Fresh & Fit - Tom Nash On The RUS-UKR War, Inflation, Stock Market, and Real Estate

00:00:00.000 Welcome to the Fresh Fit Podcast.

00:00:00.000 What's up, guys?

00:00:01.000 We're with Tom Nash on Money Monday, man.

00:00:03.000 We got a lot to talk about, man.

00:00:04.000 Geopolitics, money, recession, inflation.

00:00:06.000 Let's get into it.

00:00:06.000 Let's go.

00:00:57.000 Hey, what's up?

00:00:58.000 Welcome to Pressure Podcast, guys.

00:00:59.000 Guys, we're short on time.

00:01:00.000 So we're not even going to go into the announcements, really.

00:01:02.000 We got a special guest in the house, Tom Nash.

00:01:04.000 We've been meaning to have this podcast with y'all for a bit, but you guys know we went to Romania, then we were hanging out with the Tates, we were in London, etc., and me and Tom had been talking the whole time.

00:01:13.000 So we finally were able to hit him up.

00:01:15.000 I was like, yo, we need you back on the show, man.

00:01:16.000 We're long overdue for another show on money, geopolitics, everything else like that.

00:01:21.000 So, Tom, we know who you are, man.

00:01:22.000 It's been a while.

00:01:23.000 Can you please introduce yourself to the audience for anybody that may not know you?

00:01:27.000 First of all, I love your intro.

00:01:29.000 That intro is fire.

00:01:32.000 I get hyped when I watch it.

00:01:34.000 It's absolutely a banger.

00:01:36.000 My name is Tom Nash.

00:01:37.000 I do financial and business content on YouTube.

00:01:41.000 It's my second time here in this fabulous podcast, and I'm here to talk about economics, the stock market, geopolitics, and anything that has to do with taking care of your money, pretty much. 0.98

00:01:52.000 Damn, that's what it's about, baby. 0.98

00:01:54.000 Helping you guys stop being brokies and poor. 1.00

00:01:56.000 You know what I mean?

00:01:57.000 No one tunes into this.

00:01:58.000 You guys want to see the hoes at night, but you guys are not here on the Money Mondays. 1.00

00:02:01.000 Money Mondays count, man.

00:02:03.000 This is where the real sauce comes.

00:02:04.000 So we got a couple things to talk about.

00:02:05.000 So, Tom, we'll go right into what was said yesterday when it comes to a recession and inflation, man.

00:02:11.000 I'll let you take it away.

00:02:13.000 So basically there's a big debate right now in the U.S. and basically the idea is can we battle inflation without causing everybody to lose everything?

00:02:26.000 Essentially can the U.S. get rid of inflation without causing a recession?

00:02:32.000 The problem is that this is literally impossible and yet yesterday Secretary Janet Yellen It comes out and says, hey, we will be able to battle inflation and not cause a recession because when you hear the rationale,

00:02:49.000 there's not a lot of good explanations out there.

00:02:51.000 Essentially, the government is now telling you that We will be able to get rid of this inflationary spikes without any sort of pain, which is literally impossible because if you think about it, what is inflation?

00:03:04.000 We feel it every day.

00:03:06.000 Inflation is basically when things are more expensive.

00:03:08.000 Goods and services, everything we consume, food, leisure, sports, whatever, everything is more expensive.

00:03:13.000 We all feel it, right?

00:03:14.000 Cars.

00:03:15.000 Now, there's two ways to stop the prices from going up.

00:03:19.000 By the way, prices never go down, but you can stop it from going up too fast.

00:03:23.000 And it's either by flooding the market with a massive amount of supply that can cause the prices to go down in any industry, whether it's real estate, cars, whatever.

00:03:34.000 Impossible because the supply chains are absolutely screwed post-COVID with the geopolitics right now.

00:03:39.000 China is in total lockdown still.

00:03:41.000 I mean, there's no way to really flood the market with goods and services right now at all.

00:03:44.000 So with the supply chain screwed, the other option, the only other alternative in the market right now Is to slow down demand because inflation happens when you, me and Fresh and all of us are competing for the same amount of goods.

00:03:58.000 So when there's a lot of people who want to buy the same thing, the price goes up, right?

00:04:01.000 But if you cause us to have less desire to buy things, basically the prices will come down.

00:04:07.000 But here's the problem.

00:04:08.000 We're talking about academics, right?

00:04:10.000 Well, you just cause people to demand less.

00:04:13.000 How do you cause people to demand less?

00:04:15.000 You hurt them in the pocket.

00:04:17.000 You hurt their businesses.

00:04:18.000 You hurt their jobs.

00:04:19.000 You hurt their disposable income.

00:04:21.000 And to say to the people, to sit out there, it's almost insult to people's intelligence.

00:04:26.000 It's like, say, hey, we're going to cause a demand destruction.

00:04:30.000 That's how they call it.

00:04:31.000 Demand destruction without causing a recession.

00:04:34.000 It's literally impossible.

00:04:37.000 It's almost like the opposite within itself.

00:04:40.000 I mean, the whole idea of fighting inflation is causing pain.

00:04:44.000 Now, the problem with...

00:04:45.000 In the house, by the way, as well.

00:04:46.000 I don't know if you saw him in here, Tom.

00:04:48.000 Ben Malin, real estate tycoon out of here in Florida.

00:04:51.000 Yeah, of course.

00:04:52.000 Ben Malin, man.

00:04:53.000 Prices can't go down.

00:04:54.000 Prices can't go down.

00:04:56.000 That's why you got to get those lawful offers, man, you talked about.

00:04:58.000 But sorry, Tom, I didn't mean to interrupt.

00:04:59.000 You got to live under a rock note to hear about this guy.

00:05:01.000 I've been following him for a long time.

00:05:01.000 I know him.

00:05:04.000 Hey, we need you back, man.

00:05:06.000 Yeah, he was roasting me the whole time, but it's fine, though. 1.00

00:05:08.000 Yeah, he stopped being such an idiot. 1.00

00:05:11.000 He's spending his money so bad. 1.00

00:05:11.000 Yeah, yeah. 1.00

00:05:12.000 Yeah, I'm being wise now.

00:05:13.000 I'm not being a Jew. 0.95

00:05:14.000 Yeah.

00:05:16.000 I'm not being black. 0.99

00:05:17.000 I'm not being black. 0.99

00:05:20.000 Forget I said that.

00:05:21.000 That's why we're on Rumble.

00:05:22.000 Hey, shout out to all y'all on Rumble.

00:05:23.000 Sorry, Tom.

00:05:24.000 I didn't mean to interrupt you there.

00:05:25.000 Please continue on.

00:05:25.000 No worries.

00:05:26.000 As far as inflation and everything else like that.

00:05:28.000 But I agree with you.

00:05:29.000 Yes, of course.

00:05:29.000 They have to find a way to stave it off somehow.

00:05:32.000 Sorry.

00:05:33.000 So the only way to do it, if you think about it, is to start slowly self-destroying the economy.

00:05:33.000 Continue on.

00:05:40.000 When we break down what the government is trying to do right now, they're trying to cause unemployment.

00:05:47.000 They're literally talking about it.

00:05:48.000 Cause more unemployment.

00:05:50.000 And by causing more unemployment, essentially collapse the economic insanity, the frenzy we have going on right now, hopefully then people will have less money and then hopefully that will stop inflation.

00:06:05.000 If they were upfront about it and just say, hey, we're going to cause a lot of pain, that would have been fine.

00:06:10.000 But they send out people like Janet Yellen out there and basically explaining to you how everything is fine.

00:06:15.000 To me, it seems like very similar to the Titanic when it was sinking and the band was playing to keep people calm.

00:06:21.000 It's the same thing.

00:06:22.000 It's identical.

00:06:23.000 I mean, you can just look around you.

00:06:25.000 The ship is sinking.

00:06:27.000 The question is, How can you tell if she's right or I'm right?

00:06:33.000 Now, she doesn't have good arguments to prove what she's saying, but I can tell you where to look.

00:06:37.000 And I can give you actual data points where you can actually research and vet what I'm saying.

00:06:43.000 There's a lot of...

00:06:45.000 Yeah, so there's a lot of data points you can go in Google right now and they're not super complicated.

00:06:49.000 For once, we have in the US this thing called the disposable personal income.

00:06:54.000 Basically, the government knows exactly how much money we have after tax and after we paid for everything.

00:06:59.000 So for example, if I make 100 bucks this month, I spent 30 for everyday stuff, for living, for housing, for shelter, for food, and then I paid another 40 for tax.

00:07:10.000 So I spent 70 dollars, I have 30 dollars left, that's my disposable income.

00:07:14.000 It's my kind of free cash flow for individuals, right?

00:07:16.000 So the government knows exactly these numbers, how much everybody has, because they run the books for everybody.

00:07:22.000 Now, there's a very important metric that's called disposable personal income as a percentage, sorry, personal savings as a percentage of disposable personal income.

00:07:31.000 Essentially, how much dollars are people saving as a percentage of their free cash flow?

00:07:38.000 So, let me give an example.

00:07:39.000 If I save, go ahead.

00:07:41.000 No, as you were saying with the analogy you said before, of that $30 they have that's left over, how much are they saving?

00:07:47.000 Oh, that's a great question.

00:07:48.000 So let me give you an example.

00:07:50.000 If I have $30 free cash flow, like my disposable income, and I saved $15, it's 50%, right?

00:07:59.000 Yeah, of course.

00:08:00.000 Okay.

00:08:01.000 That's never going to happen.

00:08:02.000 Obviously, this is America.

00:08:05.000 We would have the money problems we have if that was true.

00:08:08.000 I wish this was true, but in America, it's never going to happen.

00:08:12.000 So just two years ago, when things were great, we were pumping $5 trillion into the economy.

00:08:20.000 So when we were pumping money into the system, it was about 14% just two years ago.

00:08:25.000 14%.

00:08:26.000 Right now, go check me on this.

00:08:28.000 It's 2.9%.

00:08:30.000 Which is not only six and a half times lower, it's actually the lowest that we had since November 2007.

00:08:39.000 And may I remind you what happened in 2008?

00:08:43.000 Yeah, yes.

00:08:44.000 Yeah, it was a bad time in the US. Recession, yep.

00:08:47.000 It's the big crash, it's the big recession, whatever you want to call it.

00:08:50.000 So right now we're in the same spot that we had in November 2007.

00:08:55.000 Essentially what it means is that only 3% Of people's disposable income is going to savings.

00:09:00.000 It means that people are spending everything.

00:09:04.000 And it's almost a psychological trap.

00:09:07.000 Because like, look, you know how in media they always tell you, hey, we cannot be in the recession because look at the job market, right?

00:09:14.000 They always keep saying, oh, look, the job market is great.

00:09:16.000 Like it's only 3.7%.

00:09:18.000 Yeah.

00:09:19.000 But here's the problem with job market. 0.99

00:09:21.000 And you would really fuck with what I'm saying right now because you run a business. 0.81

00:09:25.000 When people have a business, whether it's a small business, a mom-and-pop shop, or a conglomerate, whatever that may be, they don't like to fire employees. 0.99

00:09:35.000 When things get bad, you don't automatically fire employees.

00:09:38.000 You try to last as much as you can because you're hoping for better times.

00:09:42.000 Saying, okay, let's try another month, another six months.

00:09:44.000 Let's get some money here.

00:09:45.000 Let's get some money there.

00:09:46.000 You don't want to fire employees.

00:09:48.000 You don't want to admit that it's too bad until it's absolutely impossible to hold on anymore.

00:09:53.000 So you're like a branch of a tree.

00:09:54.000 You bend and you bend and you bend and you bend.

00:09:57.000 And the same thing for consumers.

00:09:59.000 If you have a certain lifestyle that you've accustomed yourself to over the past three years, you want to keep it.

00:10:04.000 I mean, you don't want to go from driving a Mercedes to driving a Toyota Corolla, right?

00:10:09.000 Come on.

00:10:10.000 So you still want to drive the nice car and have nice watch and the nice shoes and you know what I mean?

00:10:15.000 So people and businesses right now are still spending the same amount of money.

00:10:20.000 Yeah.

00:10:21.000 But the problem is that this data point I just showed you shows that this money is coming out of the people's savings.

00:10:27.000 I mean, people are spending literally every dollar they have right now trying to keep up with what used to be just two years ago.

00:10:34.000 And that's why this is the beginning of the end.

00:10:37.000 Because when you start dipping into your savings to maintain a lifestyle, essentially, you're losing business.

00:10:43.000 If this was a business, you would have said, this is a bad business.

00:10:45.000 I'm not generating any positive cash flow.

00:10:47.000 So when that starts to happen, Then this branch I mentioned earlier, the branch that bends and bends and bends.

00:10:54.000 At some point, people just run out of money because the inflation keeps raising prices.

00:11:00.000 As you know, everything keeps going up.

00:11:02.000 It gets more expensive, more expensive.

00:11:04.000 And at some point, people will run out of money.

00:11:06.000 And when they run out of money, the panic sets in immediately.

00:11:10.000 The branch snaps, like the twig snaps immediately.

00:11:13.000 People just go straight up from a Mercedes, oh, I don't need a car.

00:11:18.000 They basically just stop everything right now.

00:11:20.000 They panic.

00:11:21.000 They stop everything.

00:11:22.000 Businesses, they fire immediately everybody because they're like, oh my god.

00:11:27.000 They do it late.

00:11:28.000 It's a lagging indicator.

00:11:30.000 If you go back in history and you check the job market, it never moves like this, up or down.

00:11:36.000 It's never mellow and just like a straight line, gentle move.

00:11:39.000 It's always like radical shifts.

00:11:42.000 What's about to happen based on the data point I just showed you is the job market is actually going to spike It's not going to go from 3.7 to 3.8 to 3.9 to 4 over the course of a year.

00:11:52.000 It's going to happen very quickly and very violently.

00:11:55.000 And when this happens, think about it.

00:11:58.000 It's a very vicious cycle.

00:12:00.000 If I lose my job, I have less money to spend.

00:12:03.000 I'm not going to go and buy anything.

00:12:06.000 Yeah.

00:12:06.000 So this business will now have to fire more employees because they lost business because of other people lost their jobs.

00:12:12.000 Those employees have less money to spend.

00:12:14.000 So they're going to spend less and businesses will fire more people.

00:12:16.000 It's a very, very vicious cycle.

00:12:18.000 It's hard to stop.

00:12:19.000 It's a chain reaction.

00:12:20.000 Yeah, exactly.

00:12:21.000 It's a chain reaction.

00:12:22.000 And if you look at in tech, just in the tech industry, you know, but let's look at San Francisco, right?

00:12:28.000 People like 10,000 layoffs three months ago.

00:12:33.000 23,000 layoffs two months ago, 60,000 layoffs this month.

00:12:39.000 You heard about it, Meta, you heard about Amazon, Morgan Stanley, all the banking industry.

00:12:48.000 Right now, if you take a look at this, our financial activity is as low as it was pretty much on the beginning of the pandemic.

00:12:57.000 Everything is slowly slowing down.

00:13:00.000 The government would like you to just keep your hand in the sand like an ostrich and just ignore it.

00:13:05.000 Yeah.

00:13:06.000 But smart people, they know what's going on.

00:13:08.000 Yeah.

00:13:09.000 Even in Miami, like yesterday we were at a club.

00:13:12.000 It's dead.

00:13:12.000 Yeah.

00:13:13.000 No one's spending money.

00:13:14.000 No one's pulling it with Lambo trucks anymore. 0.95

00:13:15.000 Big chains is like, oh shit, there wasn't a club anymore because the crypto money, all that money ran out with PPE money. 0.67

00:13:21.000 So like even here in Miami, we're seeing it live in color. 0.97

00:13:24.000 Yeah.

00:13:24.000 I didn't even think about that yesterday.

00:13:25.000 I didn't even think about that.

00:13:26.000 She was dead.

00:13:27.000 By the way, there's other metrics I can show you which are even scarier.

00:13:33.000 But let's keep it gentle, so I'll just show you a few. 0.94

00:13:39.000 You're not going to hear this on CNN or Fox or even on CNBC because it's just, A, they think it's too complicated, they think their audience are stupid, and they don't actually share this information.

00:13:50.000 But you can Google it, it's free to get.

00:13:52.000 So, JP Morgan has an index called the PMI, the Producers Manufacturers Index.

00:13:57.000 It's the composite PMI. And they measure global economic activity.

00:14:03.000 It's like an obscene amount of 14,000 producers, manufacturers over 40 countries.

00:14:10.000 It's basically like the top 98% of global manufacturing.

00:14:15.000 Except just the minor issues that they don't measure.

00:14:18.000 And this global PMI has been around since 2009.

00:14:22.000 This is a very elaborate timbre system, but just to tell you, the average is always 50.

00:14:27.000 It kind of hovers around 50 when things are okay.

00:14:30.000 When the pandemic hit, we went to 26.

00:14:33.000 When the pandemic money came in, the 5 trillion, we went to 60.

00:14:37.000 But except for this anomaly, it was always 50, 52, 53.

00:14:42.000 We've been going downhill for the past six months, and the downhill is accelerating more and more and more and more.

00:14:49.000 We are right now, if you carve out the pandemic time, which is an anomaly, we are right now at the lowest of all time we had the PMI, which is 48 or 49.

00:15:00.000 Based on this data, and they actually measure specific industry, everything in the US, every single industry, excluding healthcare, everything shrunk in the past two quarters, and it's shrinking more and more.

00:15:15.000 Wow.

00:15:16.000 I mean, if that isn't by the definition of recession, I don't know what is.

00:15:21.000 Think about it.

00:15:22.000 What people buy in recession?

00:15:23.000 Medicine, healthcare.

00:15:25.000 I mean, they don't spend on clubs.

00:15:27.000 Fresh mentioned it earlier, right?

00:15:29.000 They don't spend on clubs, on booze, on leisure, on travel.

00:15:33.000 They spend on necessities.

00:15:35.000 Yeah.

00:15:36.000 Which actually, that helps us get to the next topic here at hand.

00:15:41.000 So we talked about inflation.

00:15:43.000 And me as a real estate guy, when we deal with them trying to deal with inflation, one of the biggest ways that they do so is by raising interest rates.

00:15:51.000 Right now, I'm actually going to close on two houses this Friday, guys.

00:15:54.000 And the interest rates I'm going to get are right around the sixes. 0.98

00:15:57.000 But a year ago, goddammit, a year and a half ago, I was buying houses at fucking 3%, you know? 0.97

00:16:04.000 So, yeah, I'm okay. 0.97

00:16:05.000 I'm happy with my 6% or whatever, which I had to buy down, by the way, because when you buy an investment property nowadays, you're going to have to pay 7-something, and then, you know, I paid some extra money to get the points down, bring it down to 6%, you know, because I keep my properties long-term, you know, with the 30-year fixed.

00:16:18.000 So for me, I want to bring that interest rate down.

00:16:20.000 But the real estate market has also experienced some new things going on here, and me and you were discussing it right before the show.

00:16:26.000 Do you want to tell the people about it?

00:16:27.000 Yep.

00:16:28.000 So, you know there's this old saying, when God sneezes, everybody gets wet?

00:16:33.000 Yes.

00:16:34.000 It's the same.

00:16:35.000 If the economy goes to the toilet, there's not going to be any safe havens.

00:16:40.000 The only safe haven would be for patient people who are willing to stay in for years and stay true to their investment strategy and not get panicked.

00:16:49.000 True.

00:16:51.000 Short term, it's going to be very painful.

00:16:53.000 And real estate isn't going to be immune to this.

00:16:55.000 I mean, everything will take a hit, real estate included.

00:16:58.000 The first signs of this already are starting to form, and it's kind of alarming, to be honest.

00:17:04.000 So basically, You obviously know this, but I'll explain to the audience.

00:17:08.000 There's a way to invest in real estate if you don't have money to buy assets like FED does, like actual property.

00:17:16.000 You can do either syndications or you can invest in the REIT. REIT is a real estate investment trust.

00:17:23.000 Essentially, this is a pooled investment.

00:17:26.000 The simple way to describe it is everybody pulls their money, the REIT invests in real estate, that real estate generates income from rentals, and then that REIT has to distribute like 90% of it.

00:17:38.000 And when they do, the REIT doesn't pay taxes and you pay directly the tax and you get the benefits of the depreciation, whatever.

00:17:44.000 It's a huge tax benefit.

00:17:46.000 And then the REIT collects like a 1.5% management fee and another like 10%, 12%, 13% carried After a certain hurdle, 5%, 6%, whatever.

00:17:56.000 For some people, that's Chinese.

00:17:57.000 I know you speak my language to understand this perfectly.

00:18:00.000 Basically, it's a great way to get into real estate without necessarily dealing with toilets. 0.99

00:18:04.000 Exactly.

00:18:05.000 Your explanation was far better than mine, by the way.

00:18:09.000 This was the right way to do it.

00:18:12.000 You have zero headache on all the benefits.

00:18:15.000 Zero headache on all the benefits.

00:18:16.000 All the tax benefits, the depreciation, everything.

00:18:18.000 Some of the best dividend payouts are what REITs, guys, by far.

00:18:22.000 So yeah, I'm sorry, continue on, Tom.

00:18:24.000 Yeah, so that's a great way to explain it.

00:18:26.000 There's two types of REITs.

00:18:28.000 There's public REITs, which is the majority of REITs, and there's private REITs.

00:18:31.000 Not a lot, but there are out there private REITs.

00:18:35.000 The conditions to get in is mostly to be a credit investor, but for the good reach, like the one I'm going to tell you right now, it's hard to get in.

00:18:43.000 It's not that easy.

00:18:44.000 You have to know a guy.

00:18:45.000 You have to be networking with your banking to be somebody that they want in.

00:18:51.000 It's not an easy thing to get in.

00:18:53.000 So anyways, the two biggest REITs, private REITs in the US are one that's called the B-REIT. It's a Blackstone, not Blackrock, Blackstone REIT. And there's another one called Starwood Capital.

00:19:05.000 So those two REITs, they're the two biggest private REITs.

00:19:10.000 And here's the crazy part about REIT. Now, every REIT, as a standard, It has this limitation that you cannot withdraw too much money from the REIT at the same time because essentially that will force the managers to liquidate assets and they're going to be pressured to do it quickly.

00:19:27.000 And you know when you sell something super quick, you sell it for cheap.

00:19:30.000 So they have a cap and that's normal.

00:19:32.000 That's absolutely normal.

00:19:34.000 Every REIT has a cap on withdrawals.

00:19:36.000 Blackstone REIT had a 2% per month NAV withdrawal limit.

00:19:41.000 So you cannot withdraw more than 2% of net assets per month and a 5% quarterly.

00:19:47.000 Okay.

00:19:48.000 Now, Normally, you never hit this cap in a good REIT. I mean, nobody's withdrawing money out of REIT in good times.

00:19:57.000 I mean, that's crazy. 0.99

00:19:59.000 Foolish. 0.99

00:20:00.000 Why would you, right? 0.99

00:20:02.000 Just nine months ago, the total amount of money withdrawn from REITs was $380 million per quarter.

00:20:12.000 That was the fourth quarter of 2021, 380 million withdrawals, okay?

00:20:18.000 Remember this number.

00:20:19.000 In the third quarter Of 2022, which means nine months later, the withdrawals are at $3.8 billion.

00:20:28.000 Wow.

00:20:29.000 Like 10x.

00:20:30.000 10 times within nine months.

00:20:32.000 Wow.

00:20:33.000 Now, this is verifiable data.

00:20:36.000 Go.

00:20:36.000 You can check me this.

00:20:37.000 And if I'm wrong, call me out on this.

00:20:39.000 But I'm pretty confident that the data doesn't lie.

00:20:41.000 The data doesn't feel anything.

00:20:43.000 It doesn't get butthurt.

00:20:43.000 It doesn't lie.

00:20:44.000 The data is the data.

00:20:45.000 It is what it is.

00:20:46.000 You guys can go check everything you send.

00:20:48.000 You can go check it.

00:20:49.000 Google it.

00:20:49.000 Yeah.

00:20:50.000 Check me on this.

00:20:51.000 Yeah.

00:20:53.000 Now, it's a huge number, but how does it look with Blackstone and Starwood?

00:20:57.000 So Blackstone, Google this, just announced that they're selling MGM and Mandalay for $1.3 billion in Vegas.

00:21:05.000 In Vegas?

00:21:06.000 Yeah, in Vegas.

00:21:07.000 Wow.

00:21:08.000 The reason that they're selling...

00:21:10.000 Somebody's saying $30 trillion in USA debt.

00:21:13.000 We'll talk about that in a second.

00:21:15.000 So the reason that they're selling...

00:21:17.000 Is because for three months in a row, they've hit the redemption cap.

00:21:23.000 That's unheard of.

00:21:24.000 For a REIT, like a Blackstone, it's a $70 billion REIT. They're 7% of the entire existence of Blackstone that owns everything.

00:21:34.000 It's a $950 billion fund management company.

00:21:38.000 So a $70 billion REIT, an exclusive REIT, is now hitting redemption caps in October, November, December.

00:21:45.000 Month after month after month.

00:21:47.000 That doesn't happen in good times.

00:21:50.000 The same thing happened with Starwood Capital, which is the second biggest one.

00:21:53.000 So both these REITs came out and they said, we're limiting withdrawals.

00:21:57.000 We're not going to give...

00:21:59.000 Sometimes the REIT can give you like extra.

00:22:02.000 If there's like 2.7% and they're capped at two, they'll give you some.

00:22:05.000 But they basically said, no more.

00:22:08.000 And they're actually selling the Mendeley and the MGM just to pay out people that are about to withdraw and already are waiting for the money.

00:22:14.000 Wow.

00:22:15.000 Because they're capped.

00:22:16.000 holy crap so there you go to tell me that this is a good sign by Janet Yellen I mean that's I've eaten all of sandwiches in my life but this is not what i'm ready to to eat this is a what do you think the people that that bought you said the mandalay bay and what else Mendeley and MGM,

00:22:33.000 1.3 billion. 0.97

00:22:34.000 Sorry, 1.27 billion.

00:22:35.000 So the new owners, I guess they're just going to maintain and collect the rent from the tenants?

00:22:41.000 Yeah, these are good assets.

00:22:42.000 These are good assets.

00:22:43.000 The only reason they're selling is because they need liquidity to pay out people who are withdrawing money.

00:22:47.000 They would have never sold it.

00:22:49.000 It's time assets.

00:22:50.000 They didn't foresee all these people saying, you know what, man?

00:22:52.000 I just want to pull money out.

00:22:53.000 So they got to pay their investors.

00:22:55.000 Wow.

00:22:56.000 Okay.

00:22:57.000 Yeah.

00:22:57.000 So, and now, as far as like, that's, I guess, on the commercial side with, well, it's a commercial deal, but that's more with the REITs.

00:23:05.000 What about single-family homes with traditional investing on your take?

00:23:09.000 Anything different there?

00:23:11.000 Well, just so you know, that Blackstone REIT, that B-REIT, the $70 billion REIT, they have a significant exposure to housing, to private housing.

00:23:20.000 So they have a bunch of single family homes, like buy a bunch of like, you know, three, two single family homes.

00:23:26.000 If I'm not, it was them.

00:23:28.000 One of these, I forget which company it was, but one of them just bought up a bunch of single family homes and they liquidated stuff.

00:23:34.000 It's never a bad idea to own property.

00:23:36.000 Like if you ever play Monopoly, you know, this is never a bad time to own Monopoly.

00:23:39.000 It's to own housing, right?

00:23:41.000 But I'm just saying like, you just pointed out the fact that, look, here's the problem.

00:23:47.000 And I'll play you out a scenario here, right?

00:23:49.000 Yeah.

00:23:50.000 You touched on this before and you hit the nail on the head.

00:23:54.000 Imagine I'm a normal person and I have a mortgage.

00:23:57.000 I took the mortgage when times were good and I took a massive mortgage because times were good, I was making money.

00:24:04.000 Mortgage was cheap.

00:24:05.000 Why not, right?

00:24:06.000 Yeah, let's do it.

00:24:07.000 Yeah, let's do it, right?

00:24:08.000 Why not?

00:24:09.000 Let's leave above our means, like the American dream, right?

00:24:12.000 And then now, all of a sudden, Interest rates go up.

00:24:16.000 You just mentioned six.

00:24:18.000 It will keep going up.

00:24:19.000 Double.

00:24:19.000 It will keep going up.

00:24:20.000 I was buying houses at three-something.

00:24:22.000 Yep.

00:24:23.000 It's at seven.

00:24:25.000 I have to spend another...

00:24:26.000 Every time I close on a deal, I got to spend another easily $10,000 to $11,000 to bring the points down to somewhere in the sixes, which is crazy.

00:24:34.000 And this is not the end.

00:24:35.000 We're still going up.

00:24:36.000 So now imagine...

00:24:37.000 Think about what I said in the beginning of the show.

00:24:40.000 We're heading into an economic trouble, into recessionary times, which means people will lose their jobs or at least people will not be paid as much.

00:24:50.000 When the job market is not so hot, even the people who keep their jobs are getting paid less, job security is less.

00:24:55.000 Now your disposable income will be much lower in 2023 compared to 2022.

00:25:01.000 And in 2024, probably even lower.

00:25:03.000 So now you're stuck with this massive mortgage You are not as paid as good as you were, so you're struggling to pay the mortgage.

00:25:12.000 And now real estate prices are coming down because when interest rates go up, real estate prices come down.

00:25:16.000 It's just natural progression, right?

00:25:17.000 That's one good thing for me as a buyer is I've been able to get better deals, you know what I mean?

00:25:22.000 To catch it on the downside, yeah. 0.99

00:25:24.000 Yeah, and the sellers now aren't like fucking dickheads like they used to be, dude. 0.99

00:25:28.000 They were selling houses 20, 30, $40,000 over asking, not budging. 0.99

00:25:32.000 They'd have a million offers.

00:25:33.000 Now sellers are coming back to reality.

00:25:35.000 Well, that's the proof of what I'm saying.

00:25:35.000 But sorry, please.

00:25:37.000 Why are they coming back to reality?

00:25:38.000 Because interest rates keep going up, market gets weaker, and then when market prices go up.

00:25:42.000 So you'll have a situation in about six months to a year when people are stuck with massive mortgages, they can't repay them properly.

00:25:50.000 And the price of the real estate that they have in the underlying collateral is not as much as it used to be, sometimes even underwater.

00:25:57.000 When that happens, if, God forbid, foreclosures happen, which I hope they would not see the scenario again because we saw it in 2008, it was destructive.

00:26:06.000 I know, but yes, foreclosures, let's do it, baby! 0.99

00:26:11.000 That's the best time to buy, by the way.

00:26:14.000 Yeah, absolutely.

00:26:14.000 Obviously, yeah.

00:26:15.000 So foreclosures start because of what I just described.

00:26:19.000 Because people are saying, hey, I can't afford this mortgage.

00:26:22.000 The house isn't worth what I'm paying for as far as the mortgage.

00:26:24.000 You know, screw it.

00:26:25.000 So if that happens en masse and banks are forced to foreclose, then they're going to flood the market with real estate properties, with housing properties, which is going to collapse the price even further.

00:26:36.000 So that's kind of the doomsday scenario of what can happen to real estate.

00:26:41.000 That's not necessarily going to happen.

00:26:44.000 It will depend on how high the interest rates will go up.

00:26:47.000 But if the Fed decides to put the pedal to the metal, the real estate market is going to feel the pain and housing would not be immune to that as well.

00:26:57.000 I think real estate is one of the few asset classes right now that's not getting completely destroyed by the hurt economy, but it definitely is getting a hit.

00:27:05.000 Luckily, we haven't got as bad as the stock market and cryptocurrency.

00:27:08.000 But, you know, when the market is down, it's down.

00:27:10.000 Everyone's got to feel it.

00:27:11.000 I mean, the only good thing I would say about real estate is at least you get the tax benefits.

00:27:14.000 And then on top of that, you're able to always kind of finesse the bad situation.

00:27:18.000 So, like, people have less money to buy a home.

00:27:20.000 People's credit are being checked even more.

00:27:22.000 I mean, I was under the process of getting a loan through a bank.

00:27:26.000 And they started asking me a bunch of questions that they never asked before, dude. 0.98

00:27:28.000 Damn near a tax office. 1.00

00:27:29.000 I was like, what the fuck? 1.00

00:27:30.000 So I went with another lender to get a house. 0.99

00:27:33.000 And I got a bunch of people calling me right now, right?

00:27:35.000 Because when you apply for one loan, they run your credit and everyone sees you.

00:27:37.000 They put you on a list.

00:27:39.000 I'm getting called by a million people.

00:27:40.000 So I feel that business is hurting right now because they're trying to get everyone to do a refinance or get a mortgage or whatever.

00:27:47.000 Yeah.

00:28:08.000 There's always a way to make money in a bad market in real estate, depending on what angle or what niche you're in.

00:28:13.000 But yeah, I mean, we're feeling on this side too.

00:28:15.000 I'd be lying now if I didn't say that.

00:28:17.000 And don't forget that the real estate is always going to be a lagging indicator.

00:28:19.000 Think about it this way.

00:28:20.000 If you're having trouble, the first thing you can get rid of is your car.

00:28:24.000 Then you're going to buy cheaper produce to eat.

00:28:26.000 Let's talk about this.

00:28:27.000 The last thing you're going to default on is your medicine and your housing.

00:28:31.000 Those two things you will keep buying as much as you can, as long as you can.

00:28:35.000 So when you see the real estate prices are still hovering kind of in a normal environment, that's kind of normal because that's the last piece in the domino that will fall.

00:28:43.000 You're right.

00:28:44.000 Yeah, you mentioned cars, man.

00:28:45.000 That's also another market that's actually going down.

00:28:47.000 Because now, back in the day, you can get a car going for pretty much anything.

00:28:50.000 You have a job, no matter what you're doing, $10 an hour, you can get a car.

00:28:54.000 They'll approve you.

00:28:55.000 Now it's so hard because you need half the money down at least.

00:28:58.000 And if you don't have savings to show you have money in your account, they don't give you the car either.

00:29:02.000 So it's tough.

00:29:03.000 And rates are really high too.

00:29:04.000 And you were saying right now, what we experienced in the 2008 housing market is going on right now in the car market is what you're saying.

00:29:09.000 Bro.

00:29:10.000 The same cars you could have got two years ago, like for 3%, and then put maybe like 10% down, it's 30-40% down now on the same car.

00:29:19.000 So it's like, bro, you have to have money to get these cars and...

00:29:21.000 Record high repos.

00:29:22.000 To get approved, bro, they got to trust you because people are...

00:29:26.000 Actually repos, not paying the cars off.

00:29:28.000 So it's kind of like now the trust has gone between banks and people and like loans are hard to come by now.

00:29:32.000 Wow.

00:29:33.000 The party's over.

00:29:34.000 The party's over.

00:29:35.000 The party's over.

00:29:37.000 Musical chairs is done.

00:29:38.000 Okay, so Mo, do me a quick favor because we're going to get into a little bit more of a controversial topic on this third one. 0.99

00:29:43.000 Kill the Facebook, kill the Twitch, and kill the Twitter. 0.81

00:29:45.000 We're going to go rumble on YouTube only on this one. 0.99

00:29:47.000 So Tom, this one's a little bit more controversial.

00:29:51.000 And this is kind of like the elephant in the room that no one wants to talk about, but it's very important.

00:29:55.000 And I think it's kind of a silent situation going on that's hurting the economy around the world.

00:30:02.000 The conflict between Russia and Ukraine.

00:30:04.000 Obviously, the mainstream media is not properly reporting it.

00:30:09.000 They're saying certain things that, quite frankly, aren't true as far as what's going on in the war. 0.98

00:30:13.000 They're trying to keep morale high with Western countries and like, no, the Russians are losing and all this other bullshit. 0.87

00:30:20.000 I mean, You're over there in Europe, man. 0.97

00:30:22.000 I'll just turn it to you.

00:30:23.000 Tell us what the hell is really going on and how is this war impacting the markets in general behind the scenes?

00:30:28.000 Well, look, I'm not a military strategist, but unfortunately, the first thing I can tell you is that somehow it's always the people who do not win the war, who do not care about the war and have nothing to do with this war are paying the most amount of price for this war. 0.85

00:30:44.000 Every day, Ukrainians on the ground that have zero to do with this war or care about it, they're getting the brunt of it, which kind of sucks.

00:30:53.000 The problem with the American media is that it has got... 0.52

00:30:56.000 And again, I'm not a Putin apologist.

00:30:59.000 I don't like the guy. 0.99

00:31:00.000 I think he's a horrible person. 0.99

00:31:02.000 I think his policies are atrocious. 0.98

00:31:05.000 And I think there's definitely...

00:31:08.000 Let's call it this way, harsh criticisms towards Putin and what he's doing.

00:31:13.000 The invasion is not legal and I don't think he had a justification for it of any sort.

00:31:18.000 Having said that, what's going on right now is very, very strange.

00:31:23.000 When I look at Western media, I see this kind of Hollywood movie reporting.

00:31:28.000 Basically, they're trying to sell me a movie.

00:31:31.000 About the good guys and how they're beating the bad guys, the happy ending, the ramble, killing 57,000 people in a day.

00:31:40.000 This is not how war looks.

00:31:42.000 This is not how war works. 0.96

00:31:43.000 And it's absolutely ridiculous.

00:31:45.000 There's no good guys and bad guys. 1.00

00:31:48.000 This whole narrative is absolute bullshit. 0.99

00:31:51.000 I don't have super deep inside knowledge, but here's what I can tell you. 0.99

00:31:56.000 And everybody knows this.

00:32:00.000 Ukraine, as a standalone country, is a country that's dependent, I would say, almost exclusively on the United States.

00:32:10.000 If the United States decides not to supply Ukraine with weaponry and funding, Ukraine has no way to fight this war.

00:32:18.000 I think you would agree with me on this.

00:32:19.000 Everybody with half a brain cell knows this.

00:32:21.000 So ask yourself this question.

00:32:24.000 I'm just asking a question.

00:32:27.000 To challenge the way of thought that the American media is presenting this.

00:32:31.000 Ask yourself this question.

00:32:33.000 If we control, like if the US controls what's going on with Ukrainian decision-making, because we fund them, we provide the weaponry, we put everything, and you know what? 0.54

00:32:42.000 It's fine, whatever, right?

00:32:44.000 If we control them, how can we believe when the media here tells us that Ukrainians are refusing to settle with Putin?

00:32:53.000 I mean, all of a sudden, the Ukrainians are refusing to settle, even though we're asking them to. 1.00

00:32:57.000 Like the US is saying, you need to settle Ukraine.

00:33:00.000 And Ukraine says, no, no, no.

00:33:01.000 This is the lie that they're telling you on mainstream media.

00:33:03.000 I mean, it doesn't work like this.

00:33:05.000 Go back a few months ago and look at Elon Musk's Twitter feed.

00:33:10.000 He has a tweet.

00:33:11.000 Elon Musk tweeted a few months ago and he said, guys, we need to finish this Ukraine mess.

00:33:15.000 People are dying.

00:33:17.000 There's massive amount of nuclear risk.

00:33:20.000 There's little nuclear power plants in war zones.

00:33:24.000 There's just so many things that can go wrong.

00:33:29.000 Let's put it this way.

00:33:30.000 Any mistake by Russia or NATO or the US can lead to World War III, which is an unwinnable war.

00:33:35.000 So can we stop this insanity?

00:33:37.000 And then Elon Musk tweets, look, let's find a solution.

00:33:40.000 Let's...

00:33:41.000 Russia keep whatever they have right now, the Donbas area, which is the eastern part of Ukraine, which is predominantly Russian. 0.98

00:33:50.000 And let them keep that, let them keep Crimea, and then Ukraine will keep the rest, and they will not join NATO, and then everybody can go fucking home. 0.97

00:34:02.000 Nobody would like the solution. 0.73

00:34:04.000 Putin would hate it because he's going to say it's a win, but it's not going to be a win for him because Putin's goal was always advertised as changing the regime in Ukraine and getting rid of Zelensky and all that stuff and demilitarizing Ukraine.

00:34:19.000 He's not going to get that.

00:34:20.000 He's going to be unhappy.

00:34:21.000 Ukraine is not going to be happy because they're saying, rightfully so, hey, it was our land and they took it. 0.99

00:34:27.000 And they're right 100%.

00:34:27.000 Why should we give it up?

00:34:29.000 But it's a compromise.

00:34:30.000 In the compromise, nobody will be happy, but at least nobody else will have to die.

00:34:33.000 That's what he said.

00:34:34.000 And he got so much hate on Twitter. 1.00

00:34:36.000 Ukrainian officials were telling him to fuck off, like horrible shit. 1.00

00:34:40.000 Now, it's the most pragmatic solution I've heard to this problem. 1.00

00:34:44.000 And the one thing I can't understand as a thinking person is how come if we get to call the shots over there, if the US gets to call the shots with what Ukrainian policy is, How come the US isn't telling Ukraine, hey, this is the deal.

00:34:58.000 It's as good as it's gonna get.

00:34:59.000 Just take it and let everybody go home.

00:35:01.000 That's the one thing that there's no logical way to explain this to tell me that it's something that doesn't have to do with the US. And that thing bothers me.

00:35:09.000 I don't understand why.

00:35:10.000 Like, why do we need them to keep fighting?

00:35:13.000 I mean, do people in the US or in Europe care about the Donbas being in Russia or Ukraine?

00:35:22.000 I just don't understand this part.

00:35:25.000 That region is heavily populated by ethnic Russians anyways.

00:35:29.000 Yep.

00:35:30.000 Most Americans won't even know where Ukraine is on a map, you know what I mean?

00:35:33.000 But they're over here saying all this, you know, pray for Ukraine, blah, blah, blah.

00:35:36.000 They can't even point on the map.

00:35:37.000 I'll say this without getting too geopolitical.

00:35:42.000 You know, from what I understand, right, because I watch, you know, Coach Red Pill, a.k.a.

00:35:48.000 Gonzalo Lero, he's over there in Ukraine himself.

00:35:49.000 We had a discussion with him about this.

00:35:51.000 They're estimating right now somewhere between 500.

00:35:53.000 He's saying a battalion a day is getting wiped out in Ukraine, which is about a thousand men.

00:35:58.000 I wouldn't know if it was that high, but I would say somewhere probably easily 500 to a thousand men are probably dying a day in Ukraine from this war.

00:36:06.000 And then on top of that...

00:36:08.000 I got a reliable source who pretty much has a brother in the Canadian military training some of these Ukrainian troops.

00:36:14.000 They train them up, send them off, and 100 of them will go and only about 20 or 30 of them will return.

00:36:19.000 So that tells you guys right now the numbers as far as them getting decimated by Russian forces, which...

00:36:25.000 It's no surprise, guys.

00:36:26.000 Russia is a world power.

00:36:27.000 I mean, I don't know why people really think that the mainstream media keeps saying Russia runs over here and Russia's losing the war and blah, blah, blah.

00:36:33.000 No, they're 100% winning.

00:36:34.000 It's just that Russia's trying to take Ukraine over intact to a degree.

00:36:37.000 You know, they're not trying to decimate them and destroy them like, you know, the U.S. did to Iraq.

00:36:41.000 Like, if they wanted to do that, they could have just done airstrikes in 24 hours and have Ukraine. 0.76

00:36:45.000 But they didn't want to do that.

00:36:45.000 They want to capture intact.

00:36:47.000 Right.

00:36:47.000 Because at the end of the day, just like Tom said, a lot of Ukrainians are actually Russians.

00:36:50.000 So, you know, so it's Especially on the eastern side.

00:36:53.000 On the western side of Ukraine, there's not a lot of Russians at all.

00:36:57.000 But on the Donbass area, where the Donetsk, Lugansk, I bet if you do an actual poll, I told you this offer, if you do an objective poll over there, there's a good chance they might vote to go to Russia anyways without any pressure or direction.

00:37:12.000 Yeah, you know what I mean?

00:37:13.000 So they don't get the headache.

00:37:15.000 And again, I see Putin's reasons for why he invaded and everything else like that.

00:37:20.000 I'll take my personal thoughts out of it.

00:37:22.000 But what I would say is that Ukraine is losing the war emphatically.

00:37:26.000 Everyone knows this.

00:37:27.000 I mean, even Tom, who doesn't agree with Putin, knows that, you know, everyone knows that they're losing.

00:37:31.000 But for some weird reason over here in the West and Western media, we don't want to report this.

00:37:35.000 We want to keep the morale high so we can keep sending money over there.

00:37:37.000 I get it.

00:37:37.000 It's a game.

00:37:38.000 But the problem with this, you know, the problem with this policy is I think people, decision makers in the U.S., they don't understand how to fight this war.

00:37:48.000 Look, I don't agree with what's going on over there.

00:37:51.000 I think Putin and Russia had zero justification of invading Ukraine.

00:37:56.000 Russians will hate me for saying this because they've been fed the narrative of the Russians have been abused in Ukraine.

00:38:05.000 And Ukrainians will hate me for saying that Donbas is predominantly Russian. 0.90

00:38:08.000 So everybody will hate me for whatever I've been saying about this topic.

00:38:12.000 Nobody is liking what I'm saying here right now.

00:38:14.000 Both sides will hate me for this.

00:38:16.000 But it is what it is.

00:38:17.000 The problem with the decision-making in the US, they don't understand that this is like, they think that this is a boxing match when you can win by a decision.

00:38:24.000 You can win by points.

00:38:25.000 That doesn't work like that.

00:38:27.000 The only way for the US and NATO to win this war is to beat Putin in a knockout, to get him off the power.

00:38:35.000 Any other victory by points or by decision, he's not going to go home.

00:38:40.000 They're not fighting against a normal country where the public opinion can get somebody to change rule or whatever.

00:38:46.000 The whole system has been built around this man.

00:38:49.000 Unless you beat him in a knockout, you're going to lose.

00:38:55.000 They're patient, too.

00:38:57.000 Look, the winter is definitely playing in their favor.

00:39:00.000 Russia has zero sensitivity to body count.

00:39:03.000 That's the one thing people in the West have to understand.

00:39:05.000 Putin, he cares nothing about body counts.

00:39:10.000 He will lose as many soldiers as he needs to get what he needs, and he would care absolutely nothing about it.

00:39:17.000 There's no public opinion or pressure that can, you know, push him to care about all soldiers are dying.

00:39:25.000 To him, it's just numbers.

00:39:27.000 So how does this I mean, obviously, it's terrible what's going on over there.

00:39:31.000 You know, the media doesn't want to report what's really going on.

00:39:33.000 But how does that affect us economically?

00:39:35.000 I mean, you know, besides I know, obviously, gas, power, you know, Russia is one of the leading countries when it comes to natural resources.

00:39:44.000 And Ukraine is the world's leading producer of wheat.

00:39:48.000 Yes, yes.

00:39:50.000 Which basically, if you go, the entire Middle East is 90% reliant on Ukrainian wheat, by the way.

00:40:00.000 So how does that affect the world?

00:40:01.000 How does this war implicate, you know, deal?

00:40:04.000 How does that lead to the, I guess, the financial situation worldwide in the United States?

00:40:08.000 Well, obviously, it's another exacerbating factor of inflation.

00:40:12.000 When you have tensions, oil prices go up.

00:40:18.000 When you have a war, oil prices go up.

00:40:20.000 When you have a war between two countries who are the world's combined biggest producers of food, it's going to be a big problem.

00:40:28.000 Which makes me wonder why people aren't stopping this.

00:40:32.000 It's definitely not helping inflation.

00:40:36.000 It's the crazy part.

00:40:38.000 If the United States would have leaned on Ukraine to settle with the Russians, assuming the Russians would have accepted this deal, maybe the Russians wouldn't, I don't know.

00:40:46.000 If the US would have leaned on Ukraine to accept it and the Russians would have accepted this deal, we would have a much easier time to fight inflation.

00:40:53.000 I'm not even kidding.

00:40:55.000 I mean, a big part, gas prices, food prices, everything, supply chains would open up, natural gas prices, everything would get cheaper in a day, immediately, just by the war being over.

00:41:06.000 So that kind of thing, it's not helping anybody right now to keep this war going.

00:41:12.000 And it's slowly becoming like an attrition war, which is the worst kind you can imagine.

00:41:16.000 Yep.

00:41:17.000 I mean, you can see just with the trade that we did with Brittany Griner for Victor Bout, I mean, just to kind of show you how relations are.

00:41:25.000 An international arms dealer, right, that literally was going to provide weapons to FARC members, right, in an undercover DEA operation that were going to kill U.S. soldiers.

00:41:36.000 We traded that guy for a pothead WNBA player. 1.00

00:41:40.000 I mean, it's like, what the hell is going on here?

00:41:42.000 But that goes to show you how, you know, we're not even on the same footing anymore.

00:41:46.000 I mean, for decades, this isn't new, by the way, guys, where the US and Russia trade spies for each other.

00:41:50.000 Oh, you caught our guys.

00:41:51.000 We caught your guys.

00:41:52.000 All right, let's do it.

00:41:53.000 We have a guy over there and they just said no.

00:41:55.000 And we said, okay.

00:41:58.000 Yeah.

00:41:59.000 Wild.

00:41:59.000 We didn't get our Marine back, but we got this woman back.

00:42:03.000 It's just wild to me, but that goes to show you that trade is a perfect embodiment of U.S. and Russian relations right now.

00:42:11.000 It used to be, I catch your spy, you catch my spy.

00:42:13.000 We just exchange them.

00:42:14.000 We're going to continue to spy on each other.

00:42:14.000 It is what it is.

00:42:15.000 It's been that way for damn near 100 years at this point.

00:42:19.000 I don't think the Biden administration realized how bad of a PR this is going to get.

00:42:24.000 Yeah, it was an L. They thought they were getting like a brownie point.

00:42:28.000 Obviously, I'm happy that she's home.

00:42:30.000 No hate to her.

00:42:31.000 It sucks to be in the prison cell in the foreign country over some pot. 1.00

00:42:36.000 Yeah. 0.83

00:42:37.000 I'm happy that she's home with the family.

00:42:38.000 Good for her.

00:42:39.000 But I mean, the deal, the structure, it's a very, very bad deal for the US, if you ask me. 1.00

00:42:49.000 Almost every decision the Biden administration makes, they think that their voters are stupid. 0.99

00:42:54.000 I mean, didn't they realize that people are going to figure this out? 0.97

00:42:58.000 You know, it's because the thing is, and I'm really glad that social media exists because a lot of people didn't know who Victor Bout was, you know, prior to the situation going.

00:43:07.000 Like, I knew who he was because I used to work in federal law enforcement, so I knew, you know, I had known about his case way before, right?

00:43:12.000 He was kind of like a case study person.

00:43:13.000 But the common American, especially nowadays in the social media age where people are young, you got to remember, this guy was committing these crimes in the 90s before social media and all these things were, so...

00:43:22.000 I saw that he got revitalized with everything going on.

00:43:25.000 I was like, okay, now y'all really see.

00:43:26.000 I did a whole fetit on it just to explain how bad this dude really was.

00:43:29.000 It just goes to show where we are in a state right now as far as us trading damn near a guy that supplies weapons to terrorist organizations, including the Taliban, starting wars in Africa, South America, whatever it may be, and trading them for a pothead WNBA player. 0.87

00:43:46.000 It's very foolish, but Okay, so I guess the word definitely causes supply chain issues. 0.96

00:43:52.000 I'm trying to think here. 0.87

00:43:53.000 Was there anything else we were going to hit on this?

00:43:55.000 Oh, gas, supply chain issues.

00:43:57.000 Okay, um...

00:44:00.000 There was one other thing I was going to say.

00:44:03.000 Would you say this war is a distraction, Tom?

00:44:05.000 To keep our eyes off what's really going on?

00:44:09.000 It wouldn't be the first time that politicians have used military conflict to distract people from the economy.

00:44:14.000 I mean, Putin, it has been this playbook for years.

00:44:17.000 I mean, before every re-election, Putin creates a war, a crisis.

00:44:21.000 That would not be the first time.

00:44:23.000 That's not an American thing.

00:44:25.000 Every politician does that.

00:44:27.000 I don't think that...

00:44:29.000 Look, there's going to be a lot of conspiracy theories who will tell you that we pushed them into this because of...

00:44:35.000 I think it's such an elaborate... 0.95

00:44:39.000 I just think it's just a clusterfuck of horrible policy decisions of incompetent people. 0.93

00:44:44.000 That's what I was going to ask. 0.89

00:44:45.000 More than anything planned.

00:44:46.000 So we got the one Ukraine. 0.98

00:44:47.000 Obviously, that messes with the supply chain, right?

00:44:49.000 Russia, huge producer of natural resources.

00:44:51.000 Somebody's asking the Russia pipeline, who sabotaged it?

00:44:56.000 Follow the money.

00:44:58.000 Follow the money.

00:45:00.000 All the money.

00:45:01.000 Who had the interest to sabotage it?

00:45:02.000 Russia? 0.61

00:45:06.000 So that creates supply chain issues.

00:45:08.000 China, let's talk about that.

00:45:09.000 You said China's going through a lockdown right now.

00:45:12.000 They had a real estate crisis as well.

00:45:14.000 How's that going to affect things?

00:45:16.000 Well, China actually right now is shifting its policy.

00:45:23.000 Check this out.

00:45:24.000 So China was going deep into the zero COVID policy.

00:45:31.000 How should I explain it?

00:45:33.000 It's almost like President Xi had decided that this zero COVID policy is going to be his legacy, that this is going to be his claim to fame in the history of China.

00:45:42.000 And he would not accept the fact that this was a horrible policy decision and he would just keep doubling down and doubling down and doubling down.

00:45:50.000 Now, what ended up happening is that the entire world is pretty much, at this point, COVID is a yesteryear thing.

00:45:57.000 But in China, it's still a huge deal.

00:46:00.000 They're locking people up in their homes.

00:46:02.000 They're literally shutting down entrance to apartment buildings with chains so people can get out.

00:46:08.000 They can't buy food.

00:46:11.000 They literally are starving to death in their own apartments.

00:46:14.000 So what happened in China a couple of weeks ago, I don't know if you heard this, but there was an apartment building that caught fire and 10 people died because they couldn't get out because the building was chained because of COVID restrictions.

00:46:25.000 And it started a whole bunch of riots.

00:46:27.000 Riots have started erupting all over China.

00:46:30.000 It became kind of a national thing.

00:46:33.000 And then the crazy part is that the Chinese authorities have still not budged on this topic until, get this...

00:46:42.000 Riots have started at Foxconn.

00:46:44.000 I don't know if you heard about Foxconn.

00:46:45.000 That's the facility that produces the iPhone for Apple in China.

00:46:49.000 And the riots have started in their facility and Foxconn went to China saying, hey, we're going to lose Apple if you guys don't figure this out.

00:47:00.000 I mean, just so you know.

00:47:01.000 And then the Chinese government said, okay, okay, we're lifting a lot of these restrictions.

00:47:06.000 So it took Foxconn to basically ask them to do it because of loss of Apple.

00:47:10.000 But guess what? 0.99

00:47:11.000 Apple are not idiots. 1.00

00:47:13.000 Tim Cook is no idiot. 1.00

00:47:16.000 There's a certain savviness to being one of the largest companies in the world. 0.98

00:47:21.000 You're not going to just take China on the award of anything.

00:47:24.000 That's why Apple has been secretly diversifying out of China for a while.

00:47:28.000 They've been moving the production facilities to Vietnam, to India, to other facilities.

00:47:33.000 Apple still came out.

00:47:34.000 Google this.

00:47:35.000 Apple came out, I think, two weeks ago and they said, hey, we're going to phase out China altogether.

00:47:41.000 We're slowly starting to move production from China to other countries.

00:47:44.000 The reason obviously being because think about it this way, if you have the cheapest factories, the cheapest manpower, whatever that may be, but this craziness keeps going on every single day, Yeah. 0.95

00:47:55.000 Bureaucrats doing crazy shit, like making Jack Ma disappear. 0.81

00:48:00.000 The biggest IPO in history, Ant, was just shut down by the Chinese government for no reason. 0.99

00:48:05.000 Basically, zero COVID policy with absolutely no sense.

00:48:08.000 This insanity, as a CEO of a company, you're going to be like, I'm not going to produce in this country.

00:48:13.000 It's just too much craziness.

00:48:15.000 Apple is not the only one.

00:48:16.000 Labor is cut by the volatility.

00:48:18.000 Your profits are cut.

00:48:19.000 Of course.

00:48:20.000 Labor is like, oh yeah, it's cheap.

00:48:21.000 We could do this.

00:48:22.000 It diminishes.

00:48:23.000 It's too volatile.

00:48:24.000 Oh, yeah.

00:48:25.000 Would you put your factory in a war zone?

00:48:27.000 Hell no.

00:48:28.000 It's the same thing.

00:48:28.000 It's the same logic.

00:48:29.000 Look, Warren Buffett, who was one of the largest investors, still is, one of the largest investors in the Chinese Tesla.

00:48:36.000 It's a company called BYD. Massive, massive Chinese company.

00:48:39.000 A very good company.

00:48:40.000 Mm-hmm.

00:48:41.000 He's been slowly selling his holdings over the past three quarters.

00:48:44.000 He's been consistently selling and selling and selling his positions.

00:48:47.000 Charlie Munger, his partner, sold a whole bunch of his Alibaba holdings.

00:48:51.000 I mean, people, they can't sell like people like, oh, but they haven't sold out completely.

00:48:56.000 Of course, they're not going to dump everything and lose.

00:48:58.000 They're going to slowly try to walk back this mistake without you noticing.

00:49:03.000 But China, as the challenger of the US, is a myth. 0.97

00:49:08.000 That train is not going to come into the station.

00:49:12.000 China has too many problems.

00:49:13.000 I've talked about it last time.

00:49:15.000 The demographic issues.

00:49:17.000 I mean, the working force is older.

00:49:20.000 It's getting older.

00:49:22.000 They have a massive real estate Ponzi scheme problem.

00:49:26.000 No energy of their own.

00:49:28.000 Massive issues geopolitically.

00:49:30.000 China is dealing with so much craziness right now.

00:49:34.000 Ask yourself this question.

00:49:35.000 When Nancy Pelosi went to Taiwan and basically, I can't do the movement, but basically flipped the middle finger to China.

00:49:42.000 What did China do except talk? 0.99

00:49:45.000 What?

00:49:45.000 Yeah.

00:49:46.000 Twitter was going crazy like, we're going to go to war!

00:49:49.000 Yeah, we're going to go to war!

00:49:50.000 Oh, surprise.

00:49:51.000 They didn't go to war.

00:49:52.000 They can't afford it.

00:49:53.000 They can't afford it.

00:49:56.000 They literally have bigger problems right now than Taiwan.

00:50:00.000 Yeah, and she went right in the middle of that whole real estate thing. 1.00

00:50:02.000 Do you foresee China? 0.98

00:50:04.000 I'm not a fan of Nancy Pelosi, but I can't believe she's the only one with a pair of balls to do that. 1.00

00:50:09.000 Would you foresee that China is going to lose its position as one of the world's, you know, leading, I guess, creators of products, right? 0.70

00:50:18.000 Because, I mean, they have cheap labor. 0.99

00:50:20.000 Everything is fucking made in China. 0.98

00:50:21.000 Do you foresee this volatility is going to, you know, create more jobs in other places like India? 0.99

00:50:26.000 Definitely.

00:50:27.000 Yeah, India is one hell of a candidate to inherit this. 1.00

00:50:32.000 That's why Apple is moving to Vietnam in India.

00:50:35.000 India is an English-speaking country.

00:50:38.000 Everybody speaks English for the most part.

00:50:40.000 Labor is cheap.

00:50:41.000 They're easy to train.

00:50:43.000 The government is accommodating.

00:50:44.000 It's stable.

00:50:46.000 There's no mess going on in India. 0.52

00:50:48.000 The banking system is organized.

00:50:50.000 There's a due process.

00:50:52.000 There's a legal system.

00:50:53.000 In fact, if I was the US over the next 50 years, I would be more terrified from India, not from China, if I have to actually think about it. 0.83

00:51:00.000 India is a sleeping giant that people don't really know.

00:51:04.000 I mean, they have their own problems, but they're definitely better positioned than China. 0.80

00:51:08.000 Yeah.

00:51:09.000 But a lot of companies outsource their work to India as well.

00:51:12.000 I mean, dude, if you think about it, oh yeah, because you come from the tech industry.

00:51:12.000 Yeah.

00:51:16.000 I mean, whenever I call and I have a problem, some Indian do, hello. 1.00

00:51:19.000 Hello.

00:51:19.000 You have a problem?

00:51:20.000 I can help you.

00:51:21.000 I mean, you come from...

00:51:22.000 My name is Tom.

00:51:23.000 Did you guys outsource a lot of your stuff to Indian people for work?

00:51:26.000 Yeah, like a lot of behind the scenes stuff, they would like outsource to India.

00:51:29.000 Um...

00:51:30.000 Philippines as well.

00:51:32.000 But I will say with China, I just find it's funny because they're gonna have problems with money, of course. 0.99

00:51:38.000 So instead of eating dogs, they can eat themselves.

00:51:40.000 Save our dogs.

00:51:43.000 I think personally, China has a technology that they're not telling us about that's in their pocket.

00:51:51.000 I don't know.

00:51:52.000 I'll tell you guys, everyone knows this, but China is by far the number one stealer of US technology. 0.97

00:52:00.000 Oh, that's institutional.

00:52:01.000 The government has been encouraging and allowing this and facilitating it for decades.

00:52:07.000 Yeah, China and Russia are the two biggest counter-espionage, counter-intelligence threats to the United States, but China is by far the biggest thief of American trade secrets and American...

00:52:16.000 IP, know-how, production, everything.

00:52:20.000 Yeah, 100%. 0.90

00:52:21.000 I would wager, don't be surprised if you see Gundams flying around, shoot people. 0.82

00:52:24.000 You never know, bro. 0.85

00:52:25.000 You never know.

00:52:26.000 India, bro.

00:52:26.000 You never know.

00:52:27.000 This is 2022.

00:52:28.000 I would not be surprised by anything at this point.

00:52:31.000 We've seen everything.

00:52:32.000 Real quick.

00:52:32.000 Wild.

00:52:33.000 If you would have told me two years ago, three years ago, Russia is going to invade to Ukraine, I would have told you crazy, bro. 0.54

00:52:38.000 Speaking of money.

00:52:39.000 Yeah, speaking of money.

00:52:40.000 Quick word from our sponsor.

00:52:41.000 We'll be right back.

00:52:45.000 Rocket money, guys.

00:52:46.000 Give us one second.

00:52:47.000 To the moon.

00:52:50.000 This episode is sponsored by Rocket Money.

00:52:52.000 It's Samara Gaines here.

00:52:52.000 Hey, guys.

00:52:53.000 Are you guys wasting...

00:52:57.000 This episode is sponsored by Rocket Money.

00:52:59.000 Hey guys, this is Myron Gaines here.

00:53:00.000 Are you guys wasting money?

00:53:02.000 You guys know how much we discuss about you wasting money.

00:53:05.000 People don't understand.

00:53:20.000 This episode is sponsored by Rocket Money.

00:53:22.000 Hey guys, it's Samarion Gaines here.

00:53:24.000 Are you wasting money?

00:53:25.000 You guys know how much I yell about wasting money.

00:53:27.000 It's because Fresh and I have been there too.

00:53:29.000 And you remember us telling stories on how we used to waste money on subscriptions.

00:53:33.000 But we're not the only ones.

00:53:34.000 80% of people have subscriptions they forget about.

00:53:36.000 Maybe for you, it's unused Amazon Prime account or a Hulu account that never gets streamed.

00:53:41.000 There's this great app I use that helps me track all my expenses.

00:53:44.000 And because of it, I no longer waste money on subscriptions I don't even use.

00:53:48.000 You might have heard of it.

00:53:49.000 It's called Rocket Money, formerly known as Truebill.

00:53:51.000 The app shows all your subscriptions in one place and then cancels for you whatever you still don't want.

00:53:56.000 Rocket Money can even find subscriptions you didn't know you were paying for.

00:53:59.000 You may even find out you've been double charged for a subscription.

00:54:02.000 To cancel a subscription, all you have to do is press cancel and Rocket Money takes care of the rest.

00:54:06.000 Get rid of useless subscriptions with Rocket Money now.

00:54:09.000 Go to rocketmoney.com slash freshfit.

00:54:11.000 Seriously, it can save you hundreds per year.

00:54:13.000 That's rocketmoney.com slash freshfit.

00:54:17.000 Alright. 0.98

00:54:18.000 Yo, that was fucking funny. 0.98

00:54:20.000 So, check this out. 0.99

00:54:21.000 W Addery. 0.98

00:54:24.000 All jokes aside, so I recorded an ad read right before the show, and I gave it to Bo, but he didn't edit it, and that ad read was very difficult, so I was like, going through, I was like, what the fuck? 0.97

00:54:33.000 So, whatever. 0.96

00:54:34.000 It is what it is.

00:54:35.000 I thought this was intentional.

00:54:36.000 I thought it was funny.

00:54:37.000 Yo, we should have heard the blueprint.

00:54:39.000 I was like, this is edgy.

00:54:40.000 This is some edgy stuff. 1.00

00:54:41.000 Yeah, I should have heard the fucking... 1.00

00:54:42.000 Yeah, I'm glad we turned it off, because I was like, what the fuck? 0.99

00:54:45.000 It was frustrating me. 0.98

00:54:47.000 Make it sound like me. 1.00

00:54:48.000 Yeah, bro, that shit was stupid. 1.00

00:54:49.000 But anyway, okay, going back to what we were saying, so... 1.00

00:54:52.000 So China might lose this position as one of the world leading producers as far as like, you know, hard goods go and India might take over, which I'm kind of already seeing that with the technology stuff.

00:55:03.000 By the way, China, like people talk about China is the second largest GDP in the world after the US divided by the amount of people in China.

00:55:15.000 There's a thing called GBT per capita, kind of basically GDP per person.

00:55:20.000 China is like number 80. 0.99

00:55:22.000 Yeah.

00:55:23.000 They're somewhere in between Botswana and Montenegro.

00:55:27.000 I need to see the list.

00:55:27.000 I'm not sure.

00:55:29.000 Yeah.

00:55:29.000 Montenegro.

00:55:30.000 So this is what we'll do.

00:55:31.000 I'll hit the chats because I see some really good questions here.

00:55:33.000 We'll hit those.

00:55:33.000 Then we'll hit the last topic.

00:55:35.000 All right.

00:55:35.000 Cool.

00:55:36.000 Question for us.

00:55:36.000 We got here.

00:55:37.000 What's the best way to sell your car, finance, minimize your loss?

00:55:41.000 Honestly, bro, I'll go to CarMax, see what they offer me.

00:55:44.000 I'll offer it.

00:55:46.000 But if you finance a car, you're probably underwater, you're probably at a deficit, just pay the loss and get out as soon as possible because now with the car market, how it's going, if you keep your car, it's going to bury you to the ground.

00:55:58.000 So I would just say get out while you still can.

00:56:00.000 So if you take a small loss, just take the L. Take the L. Dude, I'm about...

00:56:04.000 Okay, for example, if I sell the Rolls Royce right now, I'll probably lose like 30k.

00:56:11.000 Keeping a thousand with you.

00:56:12.000 Yeah, so the car mark is down.

00:56:12.000 Wow.

00:56:14.000 So guys, just take a loss.

00:56:16.000 Get out where you can because it's not getting any better.

00:56:18.000 It's going to get actually worse.

00:56:19.000 So just take a loss now while you still can.

00:56:21.000 Can you get Cheyenne Reynolds on after hours for another W? Yeah, we can get her on when she's safe. 0.50

00:56:26.000 She's cool.

00:56:27.000 She's cool.

00:56:27.000 On the next after hours, can guys do the women role play as men to pick up a girl up again?

00:56:32.000 Okay.

00:56:33.000 If needed.

00:56:34.000 Inflation is affecting every commodity.

00:56:36.000 These 304 is now asking for $500 dates.

00:56:38.000 Yo, it's going to be tough, bro.

00:56:40.000 That's refreshing.

00:56:41.000 David goes, sorry, off-topic.

00:56:42.000 Myron, what is the name of the course you took for creating your online workout business?

00:56:46.000 I got with Brandon Carter.

00:56:47.000 Go check him out.

00:56:50.000 Get on one of the links at the top from our interviews with him and you'll be able to get in there.

00:56:57.000 304 currently working in pest control.

00:56:58.000 I'm tired of my current field.

00:57:00.000 Would joining the Navy get an IT rate be a good move?

00:57:02.000 Could potentially.

00:57:04.000 Jamie Ortiz.

00:57:05.000 Repent and obey Jesus. 0.75

00:57:06.000 Can y'all have Alex Stein on the show? 0.94

00:57:07.000 The right-wing IRL comedian troll.

00:57:10.000 The dude who trolled city council meetings while COVID was happening would be amazing.

00:57:13.000 I don't know who that is.

00:57:14.000 Over two-thirds of Americans live paycheck to paycheck as inflation continues to rise.

00:57:14.000 Okay.

00:57:17.000 Yes, it is.

00:57:18.000 Fresh dog.

00:57:18.000 Yep.

00:57:19.000 100K salary is the new 50K. We got to aim high, fellas.

00:57:22.000 Yep.

00:57:23.000 Josh, next dollar.

00:57:26.000 Thank you.

00:57:27.000 Kyochi Borgi.

00:57:27.000 Thank you.

00:57:28.000 And then anybody with a brain got to know Russia not losing this war. 0.80

00:57:31.000 I mean...

00:57:31.000 Yeah, bro.

00:57:32.000 Come on, man.

00:57:33.000 Shout out to Vladimir Wooten.

00:57:35.000 Okay, we got a poon supporter in here. 1.00

00:57:37.000 Joshua Christie goes, do you think Wooten is doing the right thing by pushing back against NATO? Thoughts?

00:57:42.000 I mean, he's got to do what's right by Russia. 0.93

00:57:45.000 You know what I mean?

00:57:46.000 To them, NATO's the enemy.

00:57:48.000 Paul, thank you.

00:57:49.000 Don't be fooled. 0.99

00:57:50.000 Victor Wout and Vladimir Wooten are on a yacht right now with 10 out of 10s and getting lit as fuck. 0.99

00:57:55.000 Probably. 0.68

00:57:56.000 What advice would you give the average guy in America to prepare for the unexpected?

00:58:00.000 Uh...

00:58:01.000 Tom, what's your thoughts on that?

00:58:03.000 Well, usually in the time of recession, there's a few things you can do.

00:58:07.000 Number one, you can, first of all, focus on industries that are traditionally more protective, defensive during the recession. 0.93

00:58:17.000 We mentioned this earlier, people, like shit people need every day, healthcare, Stuff like that. 0.93

00:58:23.000 Telecom does better. 0.97

00:58:25.000 Not retail stuff, not leisure, not technological speculative stocks, startups.

00:58:34.000 Basically focus on defensive classic Dow Jones stocks.

00:58:37.000 Real estate, if you're a long-term investor and you're patient, is always a good thing if you're not over leveraged.

00:58:45.000 Cash is not a bad idea to be at.

00:58:48.000 In the recession, because guess what?

00:58:50.000 When the recession hits, it's probably one of the best buying opportunities.

00:58:55.000 It's like a candy store.

00:58:56.000 You can have your pick.

00:58:57.000 Real estate will be cheaper.

00:58:58.000 Stocks will be cheaper.

00:59:00.000 So you don't want to absolutely liquidate everything and just go 100% cash, but having a nice little powder on the side is always a good thing in recession.

00:59:12.000 And obviously taking care of your own finances.

00:59:14.000 I can't stress this enough. 0.98

00:59:16.000 Look, you have to make sure that before you talk about stocks and real estate investments and cars, you have to take care of your own shit, which means you have to make sure you have some money saved up for a rainy day. 0.98

00:59:26.000 You never know what's going to happen tomorrow. 0.97

00:59:28.000 You have to make sure that we talked about in the last show, You are accountable to yourself, which means you run the budget, you make sure that you're accountable to your budget, and if you slip up, you try and figure out why you slipped up.

00:59:40.000 You try and understand how you can maximize your income by improving your skills, by doing side hustles, whatever that may be.

00:59:46.000 You have the internet.

00:59:47.000 It's so much easier to make money right now.

00:59:49.000 And you reduce or postpone your expenses as much as you can.

00:59:53.000 For example, If you're buying a subscription for something, you can pay $100 per year or $15 per month.

01:00:01.000 Maybe you decrease it by spending upfront money but less overall.

01:00:01.000 Think about it.

01:00:07.000 And basically cut out everything you don't absolutely need.

01:00:10.000 You mentioned this earlier when you talked about your sponsor. 1.00

01:00:15.000 Unnecessary shit you're paying for. 1.00

01:00:18.000 Five to six to ten different things you're paying for, you don't even know. 1.00

01:00:23.000 You have to get rid of all this shit. 0.99

01:00:25.000 Unless you have to have it, you don't need it. 0.99

01:00:28.000 I mean, you don't need like Amazon and Apple TV and Hulu and Netflix and Disney Plus. 1.00

01:00:36.000 You don't need all that shit. 0.99

01:00:37.000 Pick one or two. 0.99

01:00:38.000 You don't, like, you have to slim down, cut down, because bad times are coming.

01:00:42.000 And most importantly is just preparing mentally.

01:00:46.000 I think a lot of people are, when the bad times hit, they get caught off guard.

01:00:51.000 You know, if you've been in law enforcement, you know what I'm talking about.

01:00:53.000 Like, when you're in a bad situation and you're not mentally prepared, you freeze up.

01:00:57.000 You don't know what to do.

01:00:59.000 Like, you have to mentally prepare, okay, it's going to get bad.

01:00:59.000 You're not ready.

01:01:03.000 Don't freak out.

01:01:04.000 This is what you do.

01:01:05.000 This is my plan.

01:01:05.000 If I lose my job, this is my six months fund, and then I'm gonna find a new job.

01:01:10.000 This is my backup plan.

01:01:11.000 This is my side hustle.

01:01:12.000 This is how I can go to my parents.

01:01:14.000 I can go here.

01:01:15.000 I can reduce my payment on my car, on my residence, et cetera, et cetera.

01:01:19.000 You have to have a plan in place and be ready for what's coming.

01:01:22.000 You can't just sit and hope and pray.

01:01:25.000 It doesn't come, because if it doesn't, good.

01:01:27.000 You've been prepared and nothing happened.

01:01:29.000 Whoop-de-doo, great. 1.00

01:01:30.000 But if it does, The ones that are prepared mentally, emotionally, financially will do much better than people who just, you know, stuck their finger up their ass and hoping that shit is not going to happen. 0.98

01:01:38.000 And I'll tell you guys this too, like having cash does definitely help. 0.98

01:01:42.000 So as you guys know, I told you I have two deals.

01:01:45.000 I'm closing this Friday. 0.99

01:01:46.000 One of the deals, however, guys, I was going to do cash because one of the banks was pissing me off, asking me all these stupid questions.

01:01:52.000 And I told them, listen, guys, I can do this deal cash. 0.99

01:01:54.000 I will fucking walk. 0.98

01:01:55.000 And then they came back with better terms. 0.99

01:01:57.000 And then I was able to get another lender that pretty much matched those terms and got that loan done quickly.

01:02:02.000 So it's amazing what banks and lenders will do when they know that you don't need them and how fast they'll move to go ahead and get your stuff prioritized.

01:02:09.000 And I was able to go ahead and get like a clear to close damn near in like a week and a half, which is fucking unheard of.

01:02:14.000 Of course, they had all my other documents from another deal, but I moved that deal over to another lender.

01:02:18.000 So now I'm doing both deals with two lenders.

01:02:21.000 Both deals with one lender versus like splitting the two where one lender had one deal, the other one did.

01:02:24.000 I just moved it over because I was like, you guys are pissing me off. 0.97

01:02:27.000 But when you have the cash, you're able to do things like that because you're like, listen, I don't fucking need you guys.

01:02:31.000 And when you do that, the bank starts to respect your time a lot more and then they're going to go ahead and move heavens and mountains to make the deal happen because they get paid when they give you a loan.

01:02:39.000 So that's another thing too, as far as like...

01:02:42.000 And by the way, don't forget one thing.

01:02:43.000 When things get bad, we are old enough to remember.

01:02:47.000 Go back to 2008.

01:02:49.000 I can go back to 2000.

01:02:50.000 You guys are probably younger than me.

01:02:52.000 So at 2000, I can still have a clear vision of what happened.

01:02:55.000 When these things happen, Real estate and economy and stock market, S&P can drop 50-60%.

01:03:03.000 It's insane!

01:03:05.000 Real estate can drop 50-60%.

01:03:07.000 All of this can happen.

01:03:09.000 But guess what?

01:03:10.000 If you go to history, there's multiple studies that show that people who have stayed invested during a recession, during a crash, and have doubled down during a crash, They have made an obscene amount of money as long as they were not scared and freaked out and just sold out because they panicked.

01:03:26.000 The worst thing you can do in bad times is try to time the market.

01:03:31.000 Try to time the market by getting out before the crash, getting in after the crash is impossible.

01:03:37.000 The only thing you can do is just stay the course, know that you're doing this for the next 15 years of your life or whatever that may be, 20 years, 25 years, and just stay at it absolutely religiously.

01:03:47.000 History shows that if you do that, people who invested in the S&P 500, not anything exotic, not real estate, not stocks, S&P 500, and they started investing in 2000, and they invested the same amount every single month,

01:04:05.000 put in $100, $100, $100, did nothing.

01:04:08.000 Over the course of the last 22 years, they've done 350%.

01:04:15.000 Just that.

01:04:16.000 Before you even invest your money, look at personal finance.

01:04:19.000 Because if you can't manage the money you got from your job correctly, how are you going to manage money for an investment?

01:04:24.000 Personal finance is so important because, guys, if you don't have it right now, what's happening with the recession that's coming, you're going to need it 100%.

01:04:30.000 So if you can't manage your own money, how are you going to manage people's money for assets?

01:04:34.000 It makes no sense.

01:04:36.000 100%.

01:04:38.000 Okay, so where are we at here?

01:04:41.000 Okay, so we got here...

01:04:44.000 Message deleted.

01:04:45.000 Okay, from Paul.

01:04:45.000 Cool, thank you.

01:04:46.000 After two decades, the military industry complex needed some type of proxy war to keep selling their arms.

01:04:51.000 Very true.

01:04:53.000 Someone is thinking.

01:04:54.000 Best story time.

01:04:55.000 What going on with Walmart charging for site merch?

01:04:58.000 It's mysterious, and Walmart employees claim they don't know about it.

01:05:00.000 It was $3.

01:05:01.000 I got my money back.

01:05:02.000 People, check your receipts.

01:05:04.000 I mean, I don't know about that.

01:05:06.000 Stay hard, stay fresh.

01:05:07.000 Fantastic.

01:05:08.000 Thoughts on oil and water for both China slash India?

01:05:12.000 Oil and water for India. 0.99

01:05:14.000 I think he's talking about the energy independence problem.

01:05:18.000 China doesn't have their own energy and they're dependent on other countries, mainly Russia, to provide it.

01:05:24.000 And that dependence basically creates a A huge problem for China.

01:05:30.000 I don't know if you heard about it.

01:05:31.000 A few months ago, China had to go on rolling blackouts on its industry complex because there was just not enough power.

01:05:38.000 China has big energy problems because they don't have their own.

01:05:43.000 China's on the mirrors, man. 0.99

01:05:45.000 China is a lot of smoke and mirrors. 1.00

01:05:47.000 That's a good description.

01:05:48.000 I mean, no country that has no energy independence can be a dominant global power.

01:05:55.000 That's one of the preconditions to being one.

01:05:58.000 Not a problem with India, I believe.

01:05:59.000 I don't think India lacks energy independence.

01:06:03.000 By the way, the funny part is that Germany used to be energy independent.

01:06:08.000 They voluntarily gave that up, which is kind of hysterically funny.

01:06:12.000 Speaking of which, Tom, what are your thoughts on, because we've had discussions on reserve currency and the U.S. dollar being the world's reserve currency.

01:06:19.000 What are your thoughts on Russia, China, I believe, India, and I don't remember, it was one or two countries getting together to create some kind of global reserve currency.

01:06:28.000 What are your thoughts on that?

01:06:30.000 Yeah, that's the whole BRICS currency, B-R-I-C-S. They're talking about this kind of creating this counter world reserve currency. 1.00

01:06:40.000 I'm not even going to get into the whole euro debacle and how euro played out for Europe versus the dollar.

01:06:47.000 You can see what people are buying.

01:06:49.000 When things are bad, what are people buying in the world? 0.99

01:06:51.000 Why did the dollar spike when everything went to shit? 0.99

01:06:53.000 That's a good question. 0.97

01:06:55.000 Now, look, I'm also not going to get into the fact that we still have petrodollars and because of our relationship with the Saudis, it's literally impossible for them to get off the petrodollars, which pretty much ensures our position as the world reserve currency. 1.00

01:07:08.000 Not even going to talk about that.

01:07:10.000 Assuming we don't have these two issues.

01:07:12.000 Assuming it's a fair play for everyone.

01:07:14.000 Okay, let's say that there's no petrodollars and now you can choose your country and you can choose where to hold your foreign reserve currencies, right?

01:07:21.000 Which currency would you choose?

01:07:23.000 A currency run by China, a country with no due process, no legal system, no banking system, absolute chaos. 1.00

01:07:33.000 God knows what's going on in China.

01:07:36.000 Like that, fake GDP numbers, fake real estate market.

01:07:41.000 You can choose Russia, the second option, which is China. 0.86

01:07:45.000 There's BRICS. BRICS has the R is Russia. 0.93

01:07:48.000 Which is always a great place to put your money, a country that goes to war over a sovereign country.

01:07:54.000 You can choose Russia, a totalitarian country, or you can choose the other options.

01:08:01.000 You have Brazil or India.

01:08:03.000 And I mean, okay, cool.

01:08:06.000 Brazil has a lot of potential.

01:08:08.000 India has a lot of potential.

01:08:09.000 These two countries probably have more potential in their pinky than China and Russia have altogether combined right now.

01:08:14.000 But this is a potential.

01:08:17.000 This is like saying, okay, this 15-year-old kid can be an NBA player in six or seven years.

01:08:21.000 Cool.

01:08:22.000 It's a 15-year-old kid.

01:08:23.000 That's nowhere near to be there.

01:08:25.000 You would not put your money in Brazil or India right now.

01:08:27.000 They're not there yet.

01:08:29.000 Yeah.

01:08:29.000 A one-world currency?

01:08:31.000 Yeah.

01:08:32.000 That's scary, man.

01:08:32.000 And the other thing, too, is that, yeah, you're right, Tom.

01:08:35.000 It's like everything was going on crazy with the war.

01:08:37.000 Everything, the Great British Pound went down.

01:08:38.000 The euro went down.

01:08:40.000 I mean, I remember a couple of days where the U.S. dollar was pretty much neck and neck with the euro, which is unheard of.

01:08:45.000 It's always been, you know, the U.S. dollar was somewhere between 50 to 70 cents on the euro.

01:08:50.000 So we were right there.

01:08:51.000 Remember this word, tina?

01:08:53.000 There is no alternative.

01:08:56.000 There you go.

01:08:58.000 And I agree with you.

01:09:00.000 I mean, as long as we continue to have that relationship with the Saudis, I mean, yeah. 1.00

01:09:05.000 The Saudis need us more than we need their oil, if you think about it.

01:09:11.000 We are responsible for their whole...

01:09:14.000 The entire oil industry in Saudi Arabia is based on US technology, US personnel, US money.

01:09:21.000 It's so intertwined.

01:09:22.000 It's not something you can easily replace.

01:09:24.000 And also, we are the ones paying and helping them transform their economy because they're trying to shift from oil to an actual economy because they have to at some point.

01:09:32.000 We're the ones who are paying for this.

01:09:33.000 We're the ones who are helping them.

01:09:35.000 Not to mention the fact that military-wise, we're the ones who provide military support, technology.

01:09:35.000 We're creating it.

01:09:41.000 Defense alliances.

01:09:42.000 I mean, the relationship between Saudi Arabia and the US is so insane.

01:09:46.000 It's even unthinkable.

01:09:47.000 But they'll do this sort of things every once in a while where they flirt with the Chinese just to get our attention. 1.00

01:09:53.000 And then people who, you know, there's a lot of gold pumpers and stuff like that will jump on it and say, oh, this is the end of the dollar.

01:09:59.000 Come on, give me a break. 0.96

01:10:00.000 People have been announcing the death of the dollar for the past 50 years.

01:10:03.000 Yeah.

01:10:04.000 I got three words.

01:10:05.000 New world order.

01:10:06.000 Yeah, it's...

01:10:07.000 Yeah, that relationship...

01:10:09.000 If that happens, you should not be worried about the world reserve currency.

01:10:12.000 You should be worried about different things.

01:10:14.000 Other problems.

01:10:15.000 Yeah, you have other problems.

01:10:17.000 Yeah, you got other problems. 0.99

01:10:18.000 I mean, dude, they fucking... 1.00

01:10:19.000 People forget that the Saudi Arabian government killed somebody in fucking Turkey, in their fucking embassy. 1.00

01:10:25.000 Jamal... 1.00

01:10:27.000 Yeah, Khashoggi. 0.96

01:10:27.000 Khashoggi. 0.96

01:10:28.000 Like, they literally...

01:10:29.000 He walked in there to get his passport renewed. 1.00

01:10:31.000 They fucking killed his ass. 1.00

01:10:32.000 Why? 1.00

01:10:33.000 Because he was speaking bad about the Saudi Arabian government. 1.00

01:10:36.000 Yo, if you speak bad about the Saudi Arabian government, they will fucking come after you. 1.00

01:10:36.000 Oh, wow. 1.00

01:10:39.000 They will fucking murk your ass. 1.00

01:10:41.000 It's horrible. 1.00

01:10:42.000 Like, Bin Laden did that shit. 1.00

01:10:43.000 They took his citizenship away, right? 1.00

01:10:45.000 And just fucking renounced him. 0.99

01:10:47.000 And then, you know, with the Jamal guy, they killed him in a Saudi Arabian embassy in Turkey. 1.00

01:10:54.000 And they had like secret recordings and you can hear them like, they killed his ass, they choked his ass and then they fucking cut him up and everything. 1.00

01:11:00.000 It was wild. 1.00

01:11:02.000 I guess they were hungry. 1.00

01:11:02.000 And the Saudi Arabian government has still yet to face any type of like negative consequences for that shit. 1.00

01:11:08.000 But hey! 1.00

01:11:09.000 Well, I followed the money.

01:11:11.000 Yeah, exactly. 1.00

01:11:13.000 Damn. 1.00

01:11:14.000 Hey, US government, shut up. 1.00

01:11:15.000 Don't worry about it. 1.00

01:11:16.000 This dude was talking shit about the royal family. 1.00

01:11:19.000 Follow the money, bro. 1.00

01:11:20.000 All right.

01:11:21.000 DL Saint, I really want to know podcast.

01:11:23.000 Shout out to you, DL Saint.

01:11:24.000 He goes, China and India, that may be the next shooting war. 0.97

01:11:27.000 As for Russia, I'm an old soldier.

01:11:29.000 We trained hard to beat Russia.

01:11:30.000 I still can't believe they couldn't take Ukraine in 72 hours or less. 0.97

01:11:33.000 Russia's not as tough as we thought.

01:11:34.000 SMHL Russia.

01:11:35.000 I don't know, man.

01:11:36.000 They want to capture Ukraine intact, bro. 0.99

01:11:38.000 Yeah, they're holding back, bro.

01:11:40.000 They're holding back, bro.

01:11:41.000 They're not going full force.

01:11:42.000 I've heard from many reputable sources.

01:11:44.000 They're not even using first or second line technology. 0.97

01:11:48.000 They're using old shit because they know that NATO's involved and they don't want their technology being discovered. 0.98

01:11:54.000 So, I mean, it is what it is. 1.00

01:11:55.000 Keep leaning from the front, gentlemen. 0.97

01:11:56.000 Shout out to the crazy people who are off their meds.

01:11:59.000 Thank you very much, DL Saint.

01:12:00.000 And then last one here, Lopez Ezekiel.

01:12:02.000 Me and my wife got a house given to us, 100% paid off.

01:12:04.000 What's a good first move to use it as an investment?

01:12:06.000 It needs a big bit of fixing.

01:12:08.000 I'm thinking of a home equity loan to get it fixed up.

01:12:10.000 What's next?

01:12:11.000 Fix it up and do a cash out refinance.

01:12:13.000 Boom.

01:12:13.000 There you go, my friend.

01:12:15.000 I mean, rates are a little high right now, and cash out refi is one of the most riskiest ones. 0.97

01:12:18.000 They're going to give you a high interest rate on that shit, but that's a quick way to get some money and tax-free. 0.98

01:12:24.000 Top, what else? 0.99

01:12:25.000 Did you want to hit Peter Zemil?

01:12:28.000 We can do it in the next chapter.

01:12:30.000 Let's leave something for the audience.

01:12:32.000 I can do it quickly.

01:12:34.000 So we wanted to share some...

01:12:37.000 Yeah, we wanted to share with you guys a very interesting story.

01:12:40.000 So there's a guy who I think we can learn a lot about from as investors, especially people who are new to the market and are kind of figuring it out.

01:12:49.000 His name is Peter Thiel.

01:12:50.000 He was the founder of PayPal, the founder of a company called Palantir, and he was an early investor in Facebook, LinkedIn, Airbnb, Asana, a whole bunch of other companies.

01:13:01.000 This dude grew a $2,000 portfolio to a $7 billion portfolio in 20 years.

01:13:09.000 And the crazy part about it is he did it in a way that about 5 billion out of the 7 is absolutely tax exempt.

01:13:17.000 And I think there's a lesson here to be learned because anybody here in the chat can do the same thing.

01:13:22.000 I'm not saying like grow from 2000 to 7 billion.

01:13:25.000 I mean, create revenue from the stock market or investments, whether it's whatever investments may be, REITs, whatever.

01:13:34.000 Absolutely pay no tax on your investments and do it for years and years and years and protect all depreciation.

01:13:41.000 So here's the crazy part.

01:13:43.000 So the way he did it, and this is something that everybody here can do.

01:13:49.000 He used his Roth IRA, which is a pension plan.

01:13:53.000 There's a Roth IRA or 401ks.

01:13:56.000 Essentially what you can do, you can put about $20,000 to $27,000 or $30,000, depending on how old you are, Every year into an account that is tax-free.

01:14:08.000 This account you can buy stocks in or investments in, and this account will never get taxed.

01:14:15.000 Let's say you buy a stock, every year you put in $30,000.

01:14:18.000 And then you do it for years and years and years.

01:14:20.000 And every dollar that appreciates, for example, you invest in the stock and the stock goes 100x, whatever, right?

01:14:27.000 Everything that happens inside that account will never ever get taxed.

01:14:31.000 As long as you just don't withdraw it until you go to retirement age.

01:14:35.000 And then you pull it out when you retire and it's all, boom, tax-free.

01:14:39.000 And if you are thinking about investing, if you are thinking about putting the money to work for you, creating some actual parachute for you, because I know a lot of your audience are younger and they're not really thinking about pensions,

01:14:54.000 but trust me, the best time to start thinking about your pension is when you're in your 20s, not when you're in your 30s, definitely not when you're in your 30s or 50s.

01:15:01.000 Compound interest actually works in your favor the most.

01:15:03.000 Yeah, exactly.

01:15:04.000 So if you're in your 20s and you set up an IRA or 401k, and you max it out every year, I think one is capped at $7,000, the other one is capped at like $25,000, and you max it out every year as much as you can, and you invest through that just in the S&P 500,

01:15:22.000 by the time, if you just do that, by the time that you retire, you will be a millionaire.

01:15:27.000 That's just statistics speaking.

01:15:32.000 Don't pick stocks.

01:15:33.000 Don't invest in anything exotic.

01:15:35.000 Just get a Roth IRA 401k, buy the index, the S&P 500, and just keep maxing it out every year, $30,000, $30,000.

01:15:42.000 By the time you retire, you're not going to be a millionaire.

01:15:44.000 You're going to have an insane amount of money.

01:15:46.000 It's all going to be 0% tax, absolutely legal, no loopholes, no complaints, no nothing.

01:15:52.000 That's how Peter Thiel did it, and you can do the same thing.

01:15:55.000 Took $2,000 and made it what?

01:15:57.000 A couple...

01:15:58.000 Seven billion.

01:15:59.000 But look, he invested...

01:16:01.000 Look, let's be honest.

01:16:03.000 The way he did it, like he gave half a million to Mark Zuckerberg when he had like six employees and nobody heard about him.

01:16:10.000 He gave money to LinkedIn.

01:16:11.000 He invested early in a lot of companies that have blown up.

01:16:15.000 But his philosophy, I can also share with you.

01:16:18.000 Basically, the philosophy is very simple.

01:16:20.000 It's like...

01:16:22.000 If you hear hype, this is what it says.

01:16:24.000 If you hear hype about a company, stay away. 0.99

01:16:27.000 If everybody's talking about a company, about a stock, stay the fuck away. 0.98

01:16:30.000 FTX. That's a good one. 0.98

01:16:36.000 Although it was never publicly traded, it was a private company.

01:16:39.000 You couldn't invest directly in FTX. But I mean, stay away from hype.

01:16:42.000 If your family tells you about a stock, if your friends, if influencers on YouTube, whatever, stay away.

01:16:47.000 Find the stocks that nobody's talking about.

01:16:50.000 Find the stocks that nobody's talking about.

01:16:52.000 You can even go for the ones with high risk as long as there's a high potential as well, but only if you understand the risk, if you're willing to lose the money, if you don't need the money to pay rent or to pay food or to pay for your kids tuition, if you can afford to lose the money and you are patient and you are a long-term investor and you're going to do this for the 20-year period that it requires to do that,

01:17:15.000 If you pick 10 companies based on this methodology of actually analyzing company, looking at the management, looking at the business model, not just the charts and stuff like that, and you stay for the long term and you've done the process, then there's a good chance that six or seven out of those 10 companies will be successful.

01:17:31.000 And if they are successful over the course of 20 years, their upside is going to be absolutely phenomenal.

01:17:36.000 Nobody thought that Facebook is going to be one of the largest companies in the world when he gave them half a million.

01:17:42.000 That's the whole idea.

01:17:44.000 It's like patient, long-term, and contrarian investing.

01:17:49.000 Don't do the hype.

01:17:51.000 Don't do the Jim Cramer stuff.

01:17:52.000 Do the ones that you found that nobody has ever heard about.

01:17:55.000 For example, I'm looking at a stock right now.

01:17:57.000 I'm not going to say which because I don't want to give advice here.

01:18:02.000 But there's a company that makes smart light bulbs.

01:18:06.000 Super not sexy stuff, right?

01:18:08.000 Okay.

01:18:08.000 But it's absolutely insane, the potential.

01:18:11.000 Smart houses.

01:18:13.000 So they need smart labels, bro.

01:18:15.000 Stuff like that.

01:18:18.000 Nobody's talking about this stock, this company, anywhere.

01:18:22.000 No, that's what's happening.

01:18:23.000 Getting in early without people knowing is really half the game.

01:18:27.000 I mean, I troll a little bit.

01:18:29.000 I'm like, oh yeah, I'm going to invest in Chewy because there's going to be more single women than ever before. 1.00

01:18:32.000 But I mean, there's a little bit of truth to it, man.

01:18:34.000 Bro, do I see these girls on this pod? 1.00

01:18:36.000 I'm just like, bro, these women are going to need fucking... 1.00

01:18:38.000 I mean, a smart light bulb is kind of a good idea because it's like, women don't change their light bulbs. 1.00

01:18:42.000 They don't change their smoke detectors. 1.00

01:18:43.000 They don't know how to do their shit. 1.00

01:18:45.000 So that's a good investment shot. 1.00

01:18:47.000 They have a man do it. 0.96

01:18:48.000 Yeah.

01:18:49.000 All right.

01:18:49.000 So, Tom, anything else you want to let...

01:18:51.000 I know we held you way beyond what we...

01:18:53.000 This was fun.

01:18:54.000 Every time I come on, I stay longer than I have to because it's just too much fun.

01:18:58.000 Yeah, I feel bad.

01:18:59.000 I mean, is there anything else you want to hit or did you want to...

01:19:01.000 You got to dip out.

01:19:02.000 I just want to say one thing.

01:19:02.000 It's up to you, man.

01:19:04.000 I'm launching a new product and I've talked to you about it off-air.

01:19:08.000 Me and my partner, Pete, we are launching a new platform for research for investors in the stock market.

01:19:14.000 If you are interested in the stock market, check it out.

01:19:17.000 It's called StockMVP.

01:19:19.000 You can find it at stock-mvp.com.

01:19:22.000 It basically will allow you to look at stocks like you have never before.

01:19:26.000 We created this platform because we couldn't find anything like this on the internet.

01:19:29.000 Essentially, you could look at stocks, you could look at financials, you could look at how much the CEO, the CFO, and the insiders are dumping shares or buying shares.

01:19:38.000 You could look at how much institutionals like the Black Rocks and the Black Stones are buying up or selling.

01:19:43.000 You can see how much short interest is in the company, how much people are betting against it.

01:19:48.000 You can see, you can run models, discounted cash flow valuation models on the company, see what the fair value of the stock is.

01:19:54.000 You can do a whole bunch of stuff with this platform, essentially set up your own profile to kind of tell you what's the price-to-earnings ratio, what's the free cash flow ratio, how much debt, how much cash, and basically within 30 seconds to have like an idea about the stock.

01:20:08.000 We have a stock screener.

01:20:10.000 When you can say, I just want to see companies with very low price to earnings ratio, a lot of cash, no debt, blah, blah, blah.

01:20:15.000 Show me all these stocks.

01:20:16.000 So we have a screener.

01:20:18.000 And yeah, this is a full picture on a potential stock that you might be looking at.

01:20:24.000 You can go in informed.

01:20:25.000 You know what I mean?

01:20:26.000 You can kind of go in informed.

01:20:27.000 We have a code.

01:20:28.000 I didn't tell you this, but we've created a code.

01:20:30.000 The code is FRESH25. Bam.

01:20:33.000 FRESH25. 25% off if you're watching this for the next 24 hours.

01:20:39.000 And we have basically a refund policy.

01:20:42.000 If you don't like it for any reason, no questions asked, give your money back.

01:20:46.000 Try it out, no risk.

01:20:47.000 Speaking of the stock market, man, do you want to tell the people anything? 0.96

01:20:51.000 Because the stock market has been tumbling, man, for the past damn years. 0.94

01:20:53.000 I just tweeted about this. 0.99

01:20:55.000 I said, the stock market is like an ex-wife. 1.00

01:20:59.000 It's absolutely volatile, angry, unexpected, and it will happily take your money.

01:21:06.000 Yeah, I mean, with the volatility, you know, there's no better time to, you know, be able to know what the hell you're really, you know, potentially getting investing into, right?

01:21:13.000 Unless you're like me, trolling, getting chewy just for the LOLs.

01:21:15.000 But no, Tom, where can people find you, man? 0.99

01:21:19.000 Oh, actually, shit, wait, we hit these super chats real quick. 0.91

01:21:21.000 Someone had a good question here, and then we'll close this, wrap this thing up. 0.69

01:21:24.000 Mo, can you pull it up?

01:21:25.000 Do-Wop goes, is the Robinhood IRA a good one to invest money into?

01:21:30.000 Can you repeat the question?

01:21:32.000 He said the Robinhood IRA. Robinhood IRA? Look, I'm not going to talk about specific IRAs, which I think is what he's asking.

01:21:45.000 In general, let me just answer this super general, because we don't want to give financial advice here.

01:21:50.000 In general, an IRA or 401k, they're very, very similar.

01:21:55.000 They all work almost identically.

01:22:00.000 It's a closed account.

01:22:02.000 You put your money there.

01:22:04.000 You buy investments from that account.

01:22:05.000 You never take it out until you retire.

01:22:07.000 And when you retire, you take it out tax-free.

01:22:09.000 And there's a cap on how much you can use, how much you can contribute every year.

01:22:13.000 And if you have a good job, they'll match your contributions, by the way, which is pretty cool.

01:22:18.000 All of them, they work the same.

01:22:20.000 I don't think I've ever talked about differences.

01:22:23.000 They're all identical.

01:22:25.000 They're regulated.

01:22:26.000 They're highly supervised.

01:22:27.000 There's no, like...

01:22:29.000 It's just convenience.

01:22:30.000 It's whatever you add.

01:22:33.000 There's no difference.

01:22:35.000 It's like using Vanguard to invest in S&P 500 versus another brokerage account.

01:22:40.000 Exactly.

01:22:41.000 They're all the same.

01:22:43.000 It really comes down to what you're more comfortable with.

01:22:43.000 You know what I mean?

01:22:45.000 They're extremely regulated.

01:22:46.000 They're well protected.

01:22:47.000 Essentially, the government wants you to invest.

01:22:50.000 Why the government gives you this benefit?

01:22:51.000 They give you $30,000 per year to invest in this tax because they want you to have retirement money.

01:22:57.000 Because when you retire, they don't want you to basically be broke.

01:22:59.000 It's like, oh my God, what I'm doing.

01:23:01.000 Crime and, you know, cost of dealing with people with no retirement money.

01:23:05.000 They want you to be rich.

01:23:08.000 Yeah, but typically, Robin Hood is an L, though. 0.52

01:23:11.000 But news just came in.

01:23:12.000 Sam Bank Freeman, the guy from SPF and FTX got arrested.

01:23:16.000 Oh, he got arrested in the Bahamas?

01:23:17.000 Yeah, someone was there spamming it in the chat.

01:23:17.000 Yeah, he got arrested.

01:23:20.000 From FTX got arrested.

01:23:21.000 I mean, I'm not...

01:23:21.000 Is anyone here surprised?

01:23:23.000 Fox Business, CNN. Next thing you know...

01:23:26.000 Well, I will say this.

01:23:27.000 Coffezilla did a number of videos on him and...

01:23:30.000 Yo, Coffezilla did...

01:23:31.000 He's the only one...

01:23:33.000 Look, Coffezilla did the DOJ's job for them because he's the only one out of the entire set of mainstream media who interviewed him.

01:23:41.000 He got the least amount of time The least amount of cooperation.

01:23:45.000 He had to literally fool the guy to get into an interview from the back door.

01:23:50.000 He's the only guy who got Sam Bankman free to admit on the live interview that he commingled funds.

01:23:56.000 He said it.

01:23:56.000 From one company to another.

01:23:58.000 That's criminal.

01:23:59.000 Look, David Sachs.

01:24:00.000 I don't know if you heard about David Sachs.

01:24:01.000 Google him later.

01:24:02.000 David Sachs was talking about PayPal.

01:24:04.000 He was the one with Peter Thiel and Elon Musk in PayPal in the old days.

01:24:07.000 David Sachs was saying, hey, we were in trouble in PayPal.

01:24:09.000 We were thinking about bankruptcy.

01:24:11.000 And our lawyers told us, if you dare touch customers' deposits to save yourself from bankruptcy, you're all going to prison.

01:24:17.000 And CoffeeZilla, a YouTuber, he's the only one who got sent bankruptcy to admit that that's exactly what he did.

01:24:23.000 He used people's deposits and he took it from one company and literally gave it to another company, which is absolutely insane to think about.

01:24:31.000 This is like...

01:24:32.000 Mind-blowingly unthinkable for a company to do something like that.

01:24:36.000 Imagine your bank showing you a balance sheet on your computer when you go to the app, but the money isn't really there.

01:24:42.000 They just gave it to hedge funds to bet.

01:24:45.000 Wow.

01:24:45.000 That's the power of YouTube, man.

01:24:48.000 Yeah, CoffeeZilla, huge W. Huge W for CoffeeZilla.

01:24:51.000 Yeah.

01:24:51.000 All right.

01:24:52.000 Well, with that said, man, Tom, it's great having you on the show, man.

01:24:55.000 It's always, you know, we'll bring you back.

01:24:56.000 It's always good to have these periodic talks and talk about geopolitics, money, how it affects, you know, the world and the economies.

01:25:03.000 But yeah, man, guys, here's Tom Nash.

01:25:04.000 Check him out on YouTube, man.

01:25:05.000 Go check out his app as well.

01:25:07.000 All his links are going to be below.

01:25:08.000 Subscribe to his YouTube channel.

01:25:09.000 I watch his content.

01:25:10.000 I like it.

01:25:11.000 It's good stuff, man.

01:25:12.000 And yo, Tom...

01:25:13.000 You reached out to me after my video about the reserve currency.

01:25:15.000 I know you actually watch my stuff.

01:25:16.000 Yeah.

01:25:17.000 Absolutely.

01:25:18.000 Any last words, man, before we close out?

01:25:20.000 Yeah, I love what you guys are doing.

01:25:22.000 Keep killing it.

01:25:23.000 Everybody in my community, in my Discord, were pumped when they said I'm coming on again. 0.81

01:25:28.000 Everybody...

01:25:29.000 I'm mainly, like, my audience is 97% male, mainly North American, like 30 to 50.

01:25:36.000 That's the age group, and they all freaking love you and...

01:25:39.000 No, we love what you guys are doing.

01:25:41.000 The message is very powerful and I think more important than ever in this day and age.

01:25:46.000 So keep up the good work.

01:25:48.000 Appreciate it.

01:25:48.000 Thank you, Tom, man.

01:25:49.000 Guys, we'll be back on After Hours with some lovely ladies. 1.00

01:25:52.000 Chris is going to show up because Chris is a bum very soon and we'll get going.

01:25:54.000 But no, Tom, thank you for coming on the show.

01:25:56.000 We'll catch you, man.

01:25:57.000 Thanks, Tom.

01:25:58.000 Peace.

01:25:59.000 Peace.

01:25:59.000 I ran, I ran so far away I just ran, I ran all night and day

Fresh & Fit - December 12, 2022

Tom Nash On The RUS-UKR War, Inflation, Stock Market, and Real Estate

Episode Stats

Summary

Transcript