The NXR Podcast - THE LIVESTREAM - Recession Warning： Consumers Freeze Up ｜ Job Losses Pile Up Nationwide

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00:00:16.280 You and I both know that this ministry is willing to talk about things that most ministries

00:00:20.820 aren't.

00:00:21.860 We need this content for the glory of God to reach more people's ears.

00:00:30.000 about once a month we try to give a macro economic update a market update our stocks

00:00:41.120 precious metals all these different things looking at the economy as a whole it matters

00:00:46.000 because people matter we want to see christians especially christian men be successful in laying

00:00:52.340 up treasure here on earth so that they might be able to pass that down to future generations at

00:00:58.500 the end of the day, the Bible is clear that the love of money is the root of all kinds of evil.

00:01:04.120 But money itself is not inherently good or bad. Money is a tool. The wealth of the wicked should

00:01:10.660 be laid up for the righteous. We want to see those who trust in Jesus, love Jesus, want to

00:01:17.240 push forward the crown rights of King Jesus to grow in success, to grow in power, to grow in

00:01:24.020 wealth and to utilize all these things as tools, not ends in themselves, but as tools means towards

00:01:31.720 pushing for the glory of God and the good of his people. And kind of in a nutshell, not to give the

00:01:39.380 whole episode away, but one of the things that we'll be focusing on today is that in general,

00:01:44.900 if you are older, if you're of the boomer generation and you have the luxury of being

00:01:52.440 able to have extra capital, extra finances invested in the stock market, then 2025 has

00:01:59.380 probably been, in general, a pretty good year for you. But if you are a young adult and maybe

00:02:06.340 recently married or just had your first or second kid, this year has not been great for you.

00:02:13.500 Prices are more expensive than ever. Real estate, trying to own your first home, is nearly impossible.

00:02:20.620 you don't have really any extra cash to be able to invest in the stock market or anything else

00:02:25.900 and so you are struggling and the idea of maybe changing careers or switching jobs

00:02:31.480 is a risk that nobody can afford to take if you leave gainful employment you may not find it

00:02:37.920 again that's kind of what we're going to be talking about today we're also going to be

00:02:42.020 giving some predictions for what we see happening in the economy at large over the next couple of

00:02:47.580 months, over the next couple of years, and long term. In order to do this, we have invited on

00:02:53.740 Bill Armour. He's a representative of Genesis Gold. He's come on the show now a number of times.

00:02:59.460 And basically, our idea is that we would have Bill come on speaking from financial expertise

00:03:05.220 about once a month in order to help us give this macroeconomic update. So that's the episode for

00:03:11.480 to date. Let's go ahead and dive in. All right, Bill Armour, welcome to the show. I'll just right

00:03:27.600 out of the gate, I'll ask you this. What do you think? Over the last month, would you want to be

00:03:31.640 invested in Bitcoin or gold? Well, I mean, I know Bitcoin has been on quite the bear cycle here,

00:03:40.480 and gold and silver on the flip side have been on the other end of that. Silver's up about 20%,

00:03:46.000 gold's up about 6%, about 17% for silver, but still. And you see this time and time again

00:03:53.200 with Bitcoin. You kind of know what you're getting into, I think, or people should when you're in

00:03:57.600 Bitcoin, that these kind of drops are pretty regular. They happen. Metals is much more of

00:04:02.680 the conservative approach to wealth management. But over the last month, two months, obviously,

00:04:08.520 you'd be thrilled to be in gold and silver. And you're, you're probably, you know, hoping you see

00:04:12.840 that bounce back in Bitcoin for the time being. Yeah. Yeah. Well said. As far as crypto, right,

00:04:20.340 crypto, I'm not super bullish on Bitcoin. I am. And I do think that at this point, it's worth

00:04:25.900 clearly expressing the distinction between the two. There is a dynamic difference between

00:04:30.880 fart coin 3000, you know, and Bitcoin. So I do think that Bitcoin has stood the test of time.

00:04:38.960 I think it's going to be here to stay. But Bitcoin, as anybody knows, crypto following Bitcoin

00:04:45.840 follows a four year cycle. The having took place in April, every four years, April of 2024, last

00:04:53.820 year. And what we saw after the halving or actually before was a spike that was a little

00:05:00.820 bit unusual. Bitcoin kind of started rocketing up faster in this bull cycle that it has in

00:05:08.800 previous four year cycles. And I think part of that is because you had institutions entering

00:05:14.100 the game. So it wasn't just retail and some of your long standing all the way since 2012

00:05:20.980 you know, Bitcoin crypto whales, individual private parties, but you had institutions like

00:05:26.460 BlackRock, JP Morgan, different individuals purchasing mass amounts of Bitcoin. And so

00:05:34.080 it started to spike sooner than ordinarily in the four year cycle. But it seems like as

00:05:42.020 institutions are coming in, I think your Bitcoin is going to continue to grow. I think that it's

00:05:47.180 a decent investment long term. But I don't think that you're going to see some of the massive

00:05:54.040 swings that you have in the past because you're going to just, you're going to have institutions

00:05:59.280 holding on to mass amounts of Bitcoin and kind of stabilizing a little bit. You're going to see

00:06:05.060 not just institutions, hedge funds and things like that, but even nation states. I think of

00:06:11.900 El Salvador, you know, or America for that matter, buying Bitcoin. So I think it will start to

00:06:18.180 probably stabilize and not have as many massive swings. But if you follow that four-year cycle,

00:06:22.720 just looking back to 2021, it was about this time of year that Bitcoin started to go back down. And

00:06:29.720 I think everybody kind of doesn't want to admit that the bull cycle might be over in this four-year

00:06:35.880 cycle, but it's possible that it's over. I think, you know, it's possible that we get all the way

00:06:40.240 down to as low as $74,000, $75,000. And we might see another peak. We might see in December a

00:06:47.340 Santa-type rally where Bitcoin gets back over $100,000. But for it to make in the short run

00:06:55.220 a new all-time high, getting into the $130,000 or something like that just in the next few months,

00:07:00.820 I think is unlikely. If we're panning out, if someone's saying, hey, I want to invest in Bitcoin

00:07:05.080 today and i'm going to hold on to it to 2030 i yeah i mean gun to my head i'd say that's probably

00:07:10.700 a decent idea i think you'll do well with that um but right now um crypto is uh is pretty rough

00:07:18.600 there's a lot of guys the mcdonald's just posted i'll put it this way mcdonald's just posted that

00:07:23.880 they have all-time record um applications for employment so the crypto guys are going back to

00:07:30.060 mcdonald's and uh that's not great yeah and i think this is something we've talked about on

00:07:34.940 a previous episode bill but but the way that uh you know bitcoin and crypto largely trade with

00:07:40.860 equities i think is big here just if i characterize the economy economy today and even the markets

00:07:46.820 uh specifically it's just a lot of uh sort of like looming kind of impending collapse i think a lot

00:07:55.140 of people feel that whether it's the ai valuations and uh you know things going down there or if it's

00:08:00.380 the layoffs, right? We've seen corporate layoffs for the top 2,000 equities spike recently. Amazon

00:08:07.600 announcing layoffs and UPS announcing layoffs, so on and so forth. The list goes on. Thousands

00:08:13.240 and thousands of jobs here and sort of that downward pressure on wages. I think everyone

00:08:17.600 kind of just feels afraid at the moment. And so as we've seen, the stock market really got hit

00:08:23.420 pretty hard, I'd say, you know, in November. I mean, there was a pretty big drop with the tariffs

00:08:28.140 in october as well but november's been a pretty shaky month for the markets and uh bitcoin has

00:08:33.620 fallen right along with that and uh you know i just looked at gold today and gold's doing all

00:08:38.440 right and so would love one i guess to hear your characterization of the market um but also maybe

00:08:45.420 you could tease out a little bit of like how you know when i remember when i first heard of bitcoin

00:08:49.740 it was supposed to be this stable you know gold-like asset and um and it doesn't behave like

00:08:56.500 gold at all. Gold, you know, historically has been the safe haven. It's when the stock market's

00:09:01.040 tanking and bond yields are going down, all of these things, people are running to this asset

00:09:05.380 to say, this will hold my money fast, right? And so talk about, I guess, both of those things,

00:09:11.480 the market and the economy more broadly, but also gold and how it's playing into that.

00:09:18.320 Yeah, absolutely. So I think when you talk about Bitcoin as kind of a long-term store of value,

00:09:24.300 It's important just to remember how young, you know, crypto as a whole is, right?

00:09:28.020 Like when we talk, when we compare it against gold and silver, the track record is not,

00:09:31.800 you know, 20, 30 years.

00:09:33.000 We're talking, you know, 2000 plus years for gold and silver.

00:09:36.200 So there's a lot more built up trust, whether there should or shouldn't be.

00:09:40.700 I mean, you know, they're both just assets.

00:09:42.420 I got it.

00:09:43.180 You know, there's some obviously utility to gold and obviously a lot more to silver

00:09:46.740 to buoy that.

00:09:48.040 But at the end of the day, there is a level of trust worldwide with gold and silver that hasn't really arrived yet with Bitcoin.

00:09:56.120 And it may over time.

00:09:57.700 But when we start to see any sort of economic shakeout, really what it comes down to is people used to have a general sense of discomfort when they see Bitcoin dropping.

00:10:08.060 They're OK, is this going to go down?

00:10:10.300 How much further is it going to go down?

00:10:12.060 Where you see, obviously, that happens to some degree with any asset, with gold as well and silver.

00:10:15.680 But it happens a lot less because people, you know, understand, A, that there's utility involved in this, that, you know, all things aside, silver is still going to be in demand, right?

00:10:26.620 So for silver, for instance, we're in the fifth consecutive year with a deficit in terms of production versus usage.

00:10:33.960 It was just added to the 2026 strategic minerals reserve list.

00:10:37.500 You've got all these different things.

00:10:38.620 That's going to buoy the value of silver, you know, and gold has that too with semiconductors and whatnot.

00:10:44.380 But that's going to buoy it. And then you've got, with gold in particular, the really long track record. So there's always going to be some of that. And again, maybe over time, you see Bitcoin have some of these less drastic moves. It's not uncommon to just look up and Bitcoin is down 5% or 6% or up 5% or 6% in a given day. That would be huge news in gold and silver any given day if gold's up 6%.

00:11:09.180 So not to say that these things can't happen. It's just, you know, that speaks to kind of that general piece. As far as the economy as a whole, I think there is just a lot of uncertainty is the word I would use, because you've got things like, you know, just the general AI.

00:11:26.600 You know, some people think it's a bubble. Some people think it's justified. And it's really tough. I mean, no one has a crystal ball. No one knows in 20 years when we look back and say, wow, you know, we were undervaluing everything. Or do we say 20 years later, wow, that was a massive bubble. How did we not see this coming?

00:11:42.320 And because of that, there's a lot of people that are kind of anxious.

00:11:46.560 And you see that playing out across the world stage.

00:11:49.380 That's one of the reasons that gold has done so well is that institutions, central banks,

00:11:55.300 et cetera, are saying, we just really don't feel confident.

00:11:58.680 We don't love the general situations.

00:12:00.780 We'd like to find something.

00:12:03.120 It speaks a little bit also to just the general sense of the dollar and distrust in the dollar

00:12:07.560 and other countries wanting to buy metals, wanting to separate from the dollar.

00:12:11.140 We're now under 50 percent of the world's reserve currency that the countries hold, you know, in terms of non-native currency.

00:12:19.400 It's under 50 percent. So it used to be, you know, 70, 80 percent.

00:12:22.700 So countries are moving away from the dollar.

00:12:25.160 So there's just all in all, I would just paint it as a lot of uncertainty and fear is kind of ruling right now,

00:12:31.760 because no one really knows what that's going to look like,

00:12:34.380 especially when you've got all of the valuation in the market is really plugged into about seven companies, the Mag7.

00:12:41.140 well said a couple things from the chat real quick um one based homemaker asked did they

00:12:47.160 replace wes with a christmas tree and the answer of course is yes and it was a major upgrade it

00:12:53.060 cannot be understated um how much of an improvement uh we were given a choice it was a hard choice you

00:12:58.860 know we uh it was we were sad to see him go uh he's done a lot of good and we love him immensely

00:13:03.580 but um we were given a choice wes or christmas tree and uh and the answer was clear you know

00:13:10.220 and i think we made the right choice you know as much as west contributed i feel like the tree

00:13:15.620 contributes more and uh and so i'm grateful with that choice um no we miss west uh he should be

00:13:21.540 back on wednesday so uh no we didn't trade west he'll be back on wednesday um go up a little bit

00:13:26.720 in the comments uh tech crew if you will go up a little bit striker striker is very very upset with

00:13:33.080 me just so frustrated with me he said uh you were asking a gold bug and a theologian i'm just saying

00:13:39.820 they might have great general wisdom, but they may not have great insight in specifics. I know

00:13:45.760 what he's getting at. This is what Stryker's getting at some of his previous comments.

00:13:49.640 Stryker loves him some Bitcoin. It is quite obvious from the chat. And so perhaps I just

00:13:55.540 let off, you know, started on the wrong foot and was not clear. So let me be clear. I'll go out on

00:14:02.120 a limb. I love predictions because I'm perfectly comfortable coming out after the fact and saying,

00:14:06.180 you know what? I was wrong. All right. So some people don't like predictions because the phrase

00:14:10.620 I was wrong is something that they physically cannot utter. Right. And I'm, I'm looking at

00:14:15.840 you pastors. There are, there are a lot of people in this world. Many of them happen to be ministers

00:14:20.360 that can never, ever, ever, ever admit that they were wrong. By the grace of God, I'm perfectly

00:14:26.140 comfortable doing so. I've been wrong many times and I can be wrong again. But because I'm comfortable

00:14:31.260 admitting that I'm wrong, I'm also comfortable making predictions. So here's a prediction.

00:14:34.660 I think that Bitcoin will be a million dollars. And I think relatively soon, I don't think in a

00:14:41.380 couple months, but I think 2030, 2031, I think that it's possible. And I think that in my lifetime,

00:14:49.360 barring some kind of, you know, extreme tragedy, assuming that I live for another, you know, 30,

00:14:53.680 40 years, I think that we'll see a $10 million Bitcoin. So I'm not bearish on Bitcoin, just

00:14:59.720 to be abundantly clear. I think that Bitcoin is phenomenal. And I think that Bitcoin can do a lot

00:15:08.160 of good. I'm friends with some of the OG Bitcoiners, some of the guys who wrote the book,

00:15:13.240 thank God for Bitcoin. And I agree with their basic premise. I despise fiat currency.

00:15:21.080 I despise having the Fed holding a lever that can just make money cheap or make money expensive

00:15:27.980 at will, turning on a printer. I like that Bitcoin is finite. I like that Bitcoin will only be 21

00:15:35.640 million ever. So I'm aware of the concept. I am pro the concept. All I'm saying is that in terms

00:15:41.360 of the four-year cycle, it could be over. I personally don't think that even this cycle is

00:15:48.420 over. I think that we will still see Bitcoin crossing the $100,000 threshold, maybe even

00:15:54.620 getting a new all-time high, $130,000, $140,000, maybe as high as $150,000. But some of the

00:16:00.180 original projections that I saw in 2024 and early 2025, guys like Tom Lee saying that Bitcoin is

00:16:06.580 going to moon to $250,000 in this cycle by the end of this year. I think, I mean, guys,

00:16:14.480 Stryker, you tell me if I'm wrong, but am I being crazy by saying I don't think that Bitcoin hits

00:16:21.320 a quarter million in the year of our lord 2025 with 31 days left to go on the clock that's that's

00:16:28.060 all i'm saying so i'm not against bitcoin i'm not against crypto some crypto i'm against because

00:16:32.640 it's just retarded but bitcoin i think is a great asset i think ethereum also is a good asset i i

00:16:39.420 prefer some of the cryptocurrencies that actually have functionality um you know blockchain

00:16:45.080 technology or this that and the other um you know something that that you know has some sort of

00:16:50.500 utility in and of itself. I think Bitcoin is the best. And I think that Bitcoin will be a long

00:16:54.740 standing, powerful asset. But all I'm saying is that in the short run, in the next couple of

00:17:00.640 months, Bitcoin feels a little shaky. This current cycle could be at an end, at least for a little

00:17:09.020 while. And then the bigger thing that I was trying to say at the beginning is that the four year

00:17:13.320 cycle that we're used to with Bitcoin could just be forever altered as we know it. Not meaning that

00:17:20.360 there's you know that there's not you know everything has bear cycles and bull cycles but

00:17:24.320 it may not follow the trajectory that it used to where you could just every four years you could

00:17:29.280 count on bitcoin is going to go up you know some extreme percentage um i think the more that states

00:17:35.040 nations and institutions get involved you're going to see less of the traditional cycle that you've

00:17:42.560 seen with bitcoin in the past another thing i wanted to comment on uh michael burry um i think

00:17:49.400 he has some good insights. I watched The Big Short with Steve Carell like everybody else. I'm aware

00:17:54.920 of Michael Burry. I'd like to think I'm a Michael Burry expert. I saw three tweets from him, read

00:18:01.580 one Substack article and watched The Big Short. I think that makes me an expert. But this is what

00:18:06.160 I would say about Michael Burry and other people have said it as well. It's not just me. But Michael

00:18:11.000 Burry has called 15 of the last two market crashes. Michael Burry has been betting on the market to

00:18:18.460 crash with everything all the time for a couple decades. So he could be right. He could be right.

00:18:26.880 He also could be wrong. I want to do something a little bit different and then we'll go back to

00:18:30.680 Bill. But I want to handle some of the super chats so early. So Nathan, if you can pull up

00:18:35.960 some of the super chats to kind of round out this segment, because I wanted to address a couple of

00:18:40.080 them, give it back to Bill, then go to our first commercial break and then we can take another

00:18:43.620 round of super chats you know later on uh but this was from giraffe neck uh he said he gave us

00:18:51.520 a ten dollar super chat we appreciate that thank you very much he said what is the likelihood that

00:18:55.500 big ai stocks like nvidia can continue to grow is it just an ai bubble christmas tree looks good

00:19:02.740 and joel's beer game is strong west can't compete so true king um poor west west needs to be here

00:19:08.080 or he's going to get roasted um so the the big ai stocks this is my opinion and i'd like to hear

00:19:13.440 you know bill and antonio see what they think um i i think nvidia will continue to grow

00:19:18.740 that said um once a company gets to a a certain level you're not going to see you know the the

00:19:26.840 percentage jumps in in a matter of weeks or months uh that you see early on right like amazon is

00:19:35.120 still growing um but it's not like you know if you bought amazon in the 90s um that's you know

00:19:42.300 that's very different so like i'm expecting you a thousand percent return in one year you know or

00:19:47.860 18 months i think that that's probably in in the rearview mirror for companies like nvidia

00:19:54.720 but i i think if i'm looking at ai you know the question is it just a bubble and these kinds of

00:20:01.020 things i think it will prove to be a bubble in some aspect not entirely in some aspect

00:20:06.580 um meaning that that there's a lot of you know just like the dot-com bubble i think that ai is

00:20:12.540 different than the dot-com bubble uh but with the dot-com bubble it was like every company you know

00:20:17.740 every mom and pop you know business that you could think of is like we have a website oh my goodness

00:20:22.980 you know trillion dollar evaluation you know and like we have a website www.com and uh and the

00:20:30.720 reality is that yes, having a website improved business. It made it more searchable. Um, you

00:20:36.640 know, those kinds of things, maybe you could even order online. Uh, but, but then every business

00:20:40.980 started doing it and the competition still exists. And, and so, you know, so it proved to be a bubble

00:20:47.220 of sorts. Um, AI, I don't, I, I'm going to go out on a limb, another prediction here. I don't think

00:20:53.460 it's a bubble, not, not like the.com bubble or not like the housing crash of 2000, you know,

00:20:58.080 six, seven, and eight. I think that it's real. I think there's real legitimacy. That said,

00:21:04.200 I think like most things, when they become popular, when it's the talk of the town,

00:21:09.640 everybody's going to hop on board. I think that there are some companies that are doing something

00:21:14.120 real with AI that will prove to be incredibly valuable, bearing out more value than we've

00:21:21.300 ever seen multiple trillion dollar, you know, evaluation companies in the years to come. But I

00:21:28.040 do think that those companies will be ultimately few and far between. It's not going to be every

00:21:33.060 single company that claims to have, you know, some kind of AI function, right? I mean, like,

00:21:38.060 honestly, we could IPO with RightResponse and say, RightResponse has an AI function. It's like,

00:21:44.020 oh, really, what is that function? Well, we occasionally use MidJourney to use AI to make

00:21:49.760 our thumbnails oh okay like okay so you're not an ai company so i think i think there'll be some

00:21:56.400 aspect of that people saying we're an ai company or we have an ai you know wing of our company

00:22:01.320 and a lot of that will prove to just be talk but uh the companies that are really behind it um

00:22:07.760 you know in making something real i think that there will continue to be real value that said

00:22:12.140 nvidia i think will probably grow slowly i think it will grow but grow slowly i think it's big

00:22:18.500 jumps are behind it. And I think over the next few years, what you're really going to see

00:22:22.700 is going to be physical AI. I think that's where the value will lie. And that's the question that's

00:22:28.480 still kind of yet to be answered. I lean towards yes, that it is possible and that it will be

00:22:33.560 achieved. But it's going to, I think, be companies that actually take the chips and all these kinds

00:22:40.340 of things. And they're not just doing virtual AI, digital AI, visual AI, but physical AI that they

00:22:46.160 actually like to you know to be abundantly clear i'm talking like robots i think companies that

00:22:52.640 are able to actually uh from fsd you know self-driving cars that would be one level of

00:22:58.580 the physical utility to the ai but the big one would be things like optimus things like robots

00:23:04.720 um i think any any company that's able to achieve that and and i do think it's a matter of time i

00:23:10.340 don't think it's if i think it's when um now the question is is that right around the corner within

00:23:15.460 the next two to five years or are we still 20 years away so i think if there is a pop a burst

00:23:21.360 to the ai bubble um it's not the same as the dot-com bubble it would simply be institutional

00:23:27.400 money wall street waking up and realizing that these things will happen but they're going to

00:23:32.260 happen 20 years from now instead of two years from now and everything you know all the the you

00:23:37.500 know the the pe ratios of like palantir being you know 300 times you know um it's it's actual

00:23:44.300 evaluation, those things will plummet. But that doesn't mean that AI is not real. That doesn't

00:23:50.220 mean that we won't actually have real, tangible, physical AI robots and value. I think that that's

00:23:55.040 going to happen. I think it's just a matter of when. Antonio, Bill, what do you guys think?

00:23:58.720 Yeah, I think I agree with a large swath of that. When we talk about a bubble, I find the most

00:24:04.720 helpful way to think about it is a bubble is essentially the pricing in of future earnings.

00:24:10.660 A bubble occurs when we basically say, hey, I expect this company to make, you know, a million dollars in five years. And so I'm going to pay a price with that expectation in mind. And so the question becomes in terms of, is it a bubble? Is it not a bubble? Time will tell. Time will tell whether or not the company actually generates the million dollars in economic productivity over that five-year period.

00:24:36.080 And with respect to AI, I think that the jury's just still out. I, you know, NVIDIA specifically, you're totally right. Valuation is at a point. Once the mailman knows about, knows what NVIDIA is, there's probably not a lot of upside there.

00:24:51.540 And so NVIDIA, though, you can think about them as like kind of the backbone of a lot of the things you were talking about when it comes to robotics, manufacturing AI, those sorts of things.

00:25:02.240 You imagine an Amazon warehouse with completely end-to-end robotics, right?

00:25:07.100 There's virtually no person there because AI can move the box.

00:25:10.700 It can do all of these like deft, agile activities with robotics.

00:25:16.520 And AI is the backbone of those things.

00:25:18.520 There's going to be an NVIDIA chip and each one of those different, you know, robots.

00:25:22.900 And so NVIDIA is really upstream from things that have to occur to prove its value, which

00:25:28.540 is to say, are these AI companies that are functioning in robotics and manufacturing,

00:25:33.420 are they going to be able to use the NVIDIA chip to do something that is economically

00:25:37.420 productive?

00:25:37.780 It's now, the way you could say it is now up to the AI appliers.

00:25:41.680 Exactly.

00:25:42.000 So like the AI, the hardware, you know, the GPUs and CPUs and, you know, the guts.

00:25:48.520 of ai the chips um that's that's been you can liken it to like kind of creating the railroad

00:25:54.900 before the steam engine is ever invented and so the question is is the steam engine going to exist

00:25:59.960 because if it doesn't and you're nvidia and you just laid railroad a railroad from the east coast

00:26:05.000 to the west coast and there's no engine to run on it then you're worthless and so that's kind of

00:26:10.040 like where nvidia is at and and and uh and that we just i think something that's just abundantly

00:26:15.860 clear is these large language models, these OpenAIs, ChatGPTs, they don't make money. Like

00:26:20.880 even OpenAI is, they see their natural evolution for their company into wearables and devices

00:26:26.840 because it, you know, these ChatGPT prompts, they aren't making money. They're losing billions and

00:26:32.260 billions of dollars a year because to your point, there's no real world application for those

00:26:37.160 things. It doesn't translate into moving something, into building something. And we've

00:26:44.220 seen a little this a little bit of this in self-driving cars right um and in terms of like

00:26:49.400 a vehicle being able to or way more vehicle that's why i mentioned it yeah fsd i think is

00:26:54.400 the clearest current case study of you know ai having a physical value a physical function

00:27:00.880 um aside from that it's like okay well now instead of a cat meme you know that's a still shot

00:27:07.340 now you can you know animate it as a cat meme video you know so like incredible you know but

00:27:13.500 that's you know so like that's a lot you know so it's got to be more than that for it to prove to

00:27:18.360 ultimately be valuable but i think that's why you know it's the ai appliers right now that's why

00:27:22.960 tesla you know elon musk um is kind of you know constantly you know what people are talking about

00:27:30.460 and you know in the news is like his pay package you know being approved um you know so tesla has

00:27:37.600 now secured him uh but the question is can he do it you know elon has promised many things and some

00:27:43.080 of those things he's achieved and some of them he hasn't but the question is you know can tesla

00:27:47.680 actually take all these chips and these you know the the guts of ai and actually create a physical

00:27:54.020 you know application uh that's immensely valuable because if company whether it's serve robotics or

00:28:00.460 whether it's tesla or you know these different companies if they can't do it then then it yeah

00:28:06.620 it doesn't just hurt them the company that's attempting to apply it but but the manufacturers

00:28:11.300 of the ai chips themselves like nvidia and then i've also read recently that um it seems like

00:28:16.400 there may be a shift like nvidia has certainly been the front runner um but it seems like google

00:28:21.820 might uh i mean you even have you know um what what is it jp morgan um who um what's his name

00:28:30.560 the super super old investor he just retired recently warren buffett yeah like uh they just

00:28:35.920 put a ton of investment into Google, and they were sitting on just piles of cash. Apple has

00:28:43.920 always been his favorite stock, and he exited a ton of his Apple position in the last year or so

00:28:49.460 and sat on cash for a very, very long time. And you would think he would get in after the tariff

00:28:55.980 scare in April. He didn't. He just sat on cash, sat on cash. V-shaped recovery happened. Warren

00:29:01.400 buffett's still sitting on cash google hits all-time highs and warren buffett's like all in

00:29:06.960 you know like when it's like what and you know at the end of the day it's because he's not a

00:29:12.100 short-term investor so he's thinking in 20 years it doesn't matter um doesn't matter if i got you

00:29:17.080 know the dippity dip dip dip you know um trying to catch the the falling knife or whether i did

00:29:22.540 it at all-time highs you know today but they're going to be you know not even close to all-time

00:29:28.080 highs 20 years from now but still that shift to google um not nvidia although they have some

00:29:35.640 nvidia position to be sure but a massive position staked now in google there's a lot of guys who

00:29:42.620 are saying that even with the chips and the hardware of ai uh that google has some things

00:29:48.120 in the works that may actually prove to be a formidable competitor to nvidia yeah and you can

00:29:54.520 fact check me but i believe that google is either a partial owner or an entire owner of waymo as

00:29:59.160 well so you talk about fsd and and devices and hardware and those that's the thing is google's

00:30:04.060 prolific so if google if they can pull it off they they have everything they have the search engines

00:30:10.760 they have you know the uh cloud you know they have you know data centers they had like at every

00:30:16.540 single level google you know has carved out a position for itself with everything with self

00:30:22.420 driving cars so if they can get the tech and for it to be as good or even better than nvidia's or

00:30:28.740 tesla or something like that um then they already have the market carved out in every sector right

00:30:35.280 and they would just better economics they were just running the world and i think warren buffett

00:30:39.980 you know is looking at that and saying i think uh long term i think they win um so i i think that

00:30:45.960 you know even i say that to say that even some behemoth companies like google i don't think

00:30:52.220 that they're going to go a thousand percent uh raise in their stock price you know in 18 months

00:30:56.540 but google could could potentially 10x a thousand percent over 20 years um that that actually is

00:31:03.360 possible but those are long-term investments bill what do you think yeah i mean i would start you

00:31:10.600 know just going back to nvidia like the reason that they perform so well is is because they're

00:31:15.480 beating guidance right so it's not like they are there's guidance put out on expectations and then

00:31:21.800 they exceed expectations. They, you know, continue to do that over and over and over again, even as

00:31:25.880 guidance is revised. So, you know, just kind of keep that in mind that it's not like, you know,

00:31:30.380 this is all speculation. There's, there is actual profits being generated, which is one of the big

00:31:34.320 differences from a 2000. The other thing I just want to do is reshape a little bit. When we talk

00:31:39.520 about bubble, even with the.com, it's not like the thing about how our world has changed is sent,

00:31:45.980 you know, through the advent of the internet and.com and whatnot. So it's not like nothing

00:31:51.060 came out of that. It's just that at the time, it was really hard to evaluate how companies were

00:31:56.940 going to compete, market share online, and what that was going to shake out to be. And you

00:32:00.780 understood, people understood that if they were correct, if they were right on the Amazons of

00:32:06.280 the world and what they eventually became, that they would do incredibly, incredibly, tremendously

00:32:10.420 well. And so there was this sort of mad dash to find companies that maybe didn't have to be online

00:32:17.720 or weren't going to have the space there, didn't win the competition.

00:32:21.340 And eventually, obviously, the winners shook out of that.

00:32:23.880 And I think it's not dissimilar to, in that way, what we're seeing with AI.

00:32:28.840 Again, not that AI is not going to be productive or anything like that,

00:32:32.020 but that it's really hard to tell who shakes out of this, how it shakes out, in what places.

00:32:38.640 Obviously, FSD is a great example of somewhere that we're pretty, basically 100% sure

00:32:42.440 that will continue to develop and we're going to use that.

00:32:45.240 But there's other applications, many applications that, you know, we're not sure how important that will be or what the market share on that will look like, you know, 10 years, 20 years down the road.

00:32:55.580 And so everyone wants to be the company that has it.

00:32:59.000 The question is, is there market share there?

00:33:00.940 You know, how will that develop?

00:33:02.320 So it's not so much when people talk about, you know, is this a bubble?

00:33:06.400 I mean, I would say I think that there is definitely bloat.

00:33:10.060 I don't think that we're talking, you know, 50 percent drop or something like that.

00:33:13.720 But yeah, I would say absolutely there's bloat. And I think all of these companies have made tremendous bets on AI. And another important distinction is the bets they've made, the infrastructure, we were talking about this a little bit before the show, is that over 90% of GDP comes from AI-related CapEx, so capital expenditures from companies in creating data centers and things of that nature.

00:33:36.360 So there's, I mean, basically the entirety of the GDP this year is just, okay, how do we add AI into our companies? How do we grow, you know, server farms, et cetera, which is not bad. But the expectation, the guidance on these is, you know, two to four years to start seeing turnaround and, you know, growth.

00:33:53.520 And that's why some of these jobs, people are being laid off is they're trying to repurpose

00:33:57.680 a lot of those jobs that can be done by AI to AI.

00:34:00.340 But if we get two years into these processes and they're not seeing the ability to sort

00:34:07.900 of transfer workload into AI in the way that they want to, even if it's not that quick,

00:34:12.700 then you're going to see, okay, then companies start slowing down the purchasing of chips.

00:34:17.160 They slow down the growth in these AI-related capex.

00:34:21.180 And then that's where you would see somewhere like NVIDIA, as you guys mentioned, kind of being downstream from that.

00:34:26.380 That's where they would feel it is.

00:34:27.640 If guidance is we expect Google to buy this many chips and then all of a sudden Google says, you know what, we're not seeing quite the return out of this we wanted or we're not able to develop this in the way we wanted necessarily.

00:34:38.420 Then, of course, you know, OK, we're going to cut some amount of this or some portion of the order.

00:34:42.840 Not that they would cut it entirely.

00:34:45.060 But again, that some part of that goes.

00:34:47.340 And then NVIDIA being kind of upstream from that feels that effect.

00:34:50.700 And then their guidance has to be revised down. And so I don't think it's a bubble in the sense that no one's going to be using AI. It's not going to be productive, anything like that. I think the bubble talk is more in this is such an unheard of technology space that it's impossible to really predict with any any good sense what this is going to look like 10 years, 20 years, 30 years.

00:35:13.140 And I know that you guys were talking a little bit about, you know, just again, when do we see that payoff? And right now, the general guidance is companies expect to see that in, you know, two, four years. And who knows, maybe it's there, maybe it's not. And if it's not, they scale back and then you see this kind of shrink. And then maybe over 20 years, it goes back up.

00:35:31.180 So I think it's more, it's not, I wouldn't shape it as this massive bubble, it's about to pop and people are going to lose everything. I would shape it more as going back to kind of what I was saying earlier, more into uncertainty. And, you know, it really depends for anyone, what are your goals? I mean, if your goals are, you know, is a 30 year hold, then I think we can all agree that AI has, you know, will continue to develop and be productive and be helpful over 30 years.

00:35:56.280 but if you're you know in a more conservative approach you may say you know i really don't

00:36:00.620 know that i feel as comfortable you know in four years with ai in two years these ai bets pay off

00:36:05.180 so i i would just say it's kind of investment horizons and things of that nature when people

00:36:09.900 talk about this yeah well said uh let's go ahead and round out the super chats the ones that we

00:36:15.520 have so far and then we'll go to our first commercial break we'll come back and talk some

00:36:18.720 more uh this is from dapper dan he gave us ten dollars we appreciate that dan thank you he said

00:36:24.160 i am currently in the military and putting a percentage of my earnings into a roth tsp

00:36:30.960 i am leaning towards moving it in uh into uh the s&p 500 um anything else that i should consider

00:36:40.160 s&p is usually a pretty safe bet um we are kind of nearing all-time highs uh just about a week

00:36:49.120 and a half ago you know when we were it came off of what what was it it was like a five percent

00:36:53.860 correction pretty much i think uh s&p or at least the spy spy was at like 688 was all-time high and

00:37:02.220 then it got as low as i mean it did 650s i think yeah 650s uh-huh uh somewhat not quite as severe

00:37:09.640 is the april tariff scare but somewhat significant um but has certainly recovered and bounced back

00:37:16.160 off of that i think today we closed out around 679 although i have been reliably informed that

00:37:24.500 jerome powell is supposed to speak uh at 8 p.m central uh or eastern time and uh he is a crusher

00:37:32.120 of all dreams throw a wrench in there so uh if if if you're betting short term on uh the market

00:37:38.740 going down today's a great day uh because you've got jerome powell crusher of markets crusher of

00:37:44.420 dreams uh just out of sheer spite to trump he will literally he'll be like uh ruin the entire

00:37:49.940 american economy just to spite trump worth it he'll do it yeah so anyways i i i mean yeah the

00:37:57.520 s&p 500 you can you can never go wrong with the s&p if it's long term yeah and over a long term

00:38:02.260 and obviously the the typical advice is when you're younger you can afford to be more aggressive

00:38:06.960 in your allocations and you think about like the typical sort of allocations being and now we've

00:38:11.180 got crypto in there but stocks and bonds and you say hey bonds are less aggressive stocks are more

00:38:16.260 aggressive and then within stocks you have the most aggressive being the nasdaq and these tech

00:38:21.260 companies high growth uh very sensitive to interest rates very sensitive to um the you know

00:38:26.900 long-term implications of public policy and those sorts of things and so you can think about hey if

00:38:32.180 i'm young if i'm 25 years 30 years out from investment i can afford to be more aggressive

00:38:36.880 And so I'm going to allocate money, you know, accordingly, maybe I'm 80% equities, I'm 20%,

00:38:42.340 you know, or 15% yield, you know, bonds, and then I'm 5% crypto or something like that,

00:38:47.720 or whatever you can really think.

00:38:49.260 And we've talked about this.

00:38:50.320 You can think of crypto as an equity and just kind of all bucket it together.

00:38:54.060 It's going to move the same.

00:38:55.620 And so that's like the typical advice you'd hear.

00:38:58.240 So I think depending on how close you are to retirement, that's really what you want

00:39:01.340 to be considering.

00:39:02.200 But here's the secret.

00:39:03.220 um when it comes to and striker i kind of kind of imply like you know it's a gold guy it's a

00:39:08.140 theologian here's the secret 70 of of active uh you know uh money managers underperform the s&p

00:39:16.780 500 over over a long period and so if you look at data from 2000 to 2025 you would have been

00:39:24.280 better off giving your money to uh you know uh mutual fund s&p index mutual fund index yeah yeah

00:39:31.660 and without any uh without any cost you don't have to pay the financial advisor you just put

00:39:37.580 your money in the s&p 500 and beat out seven out of ten being a stock picker is incredibly hard

00:39:43.000 it's it's the the market just economically speaking is hyper efficient um the market

00:39:49.120 knows everything and we're we're talking about the market at writ large not any individual person

00:39:54.180 not any individual company but prices and this is like kind of the at the heart of capitalism as

00:39:58.920 adam smith defined it in the wealth of nations the idea is like capitalism is all information

00:40:04.080 throughout the economy everyone kind of putting in their little tidbit of information into the

00:40:09.260 economy via prices and those prices actually being a composite of basically all the information

00:40:16.060 anyone knows um and when you think of the market that way the the concept of you knowing more or

00:40:23.540 knowing something that the market doesn't or seeing something that the market doesn't uh seems

00:40:27.680 ludicrous and it is ludicrous actually and so this is why it's very difficult i mean even some

00:40:32.580 of the best investors in the world you can think of what warren buffett's a long-term investor so

00:40:36.360 we'll put them aside value investing aside but you think about stock pickers you think about

00:40:39.800 hedge funds you think about um you know guys like bill ackman a lot of this stuff is luck it is

00:40:46.080 fortune it is um in the sense of look i i knew that this was a risk it was probabilistic and i

00:40:53.200 put my chips on this roulette table on black and i hit black and now i look like a genius but i'm

00:40:59.900 also losing you know every other play that i'm winning over here 10x yeah but 90 of my other

00:41:06.500 investments are even or down or something like that yeah right and so if you take that approach

00:41:12.020 to the market of okay i'm investing for retirement i've got 30 years before i got 25 years or 30

00:41:17.820 years before i plan to quote unquote retire although we have perspective on retirement which

00:41:22.360 is why would you stop working if you're able-bodied um but but that aside the idea would be i've got

00:41:28.580 time and so why wouldn't i just index with the s&p 500 or why wouldn't i just if i want to be

00:41:33.980 more aggressive index with tech you know the nasdaq or something yeah qqq exactly so spy yeah

00:41:40.280 the spy so so there's a that that's basically the gist of how to think about it bill i'd welcome

00:41:45.020 your thoughts on that real quick real quick i was going to say bill if it was me i assume that the

00:41:50.860 person who's writing in is relatively young i i would do s&p 500 i think that's very wise uh s&p

00:41:58.100 500 long-term investing s&p 500 i do one uh thing that's riskier like um like qqq or spy um and then

00:42:06.760 i would do some bitcoin i would i'd probably be looking at if if i'm young i'd be looking at

00:42:12.620 probably putting 20 10 is probably more conservative but 20 of my portfolio in bitcoin

00:42:20.240 And then lastly, I would finish off with a hedge, long-term hedge, being precious metals, doing a little bit.

00:42:28.380 So S&P 500, maybe call it S&P 500, SPY, Bitcoin, and some gold is, I think, if you're young,

00:42:37.280 I think that that's a really wise way to diversify in four different arenas, Bill, to you.

00:42:44.660 Yeah.

00:42:45.100 The only thing I'll add, because I pretty much agree with what you guys have said there,

00:42:49.220 is whatever you do, I would say you almost think of I would think of it almost like you're picking

00:42:55.500 a wife, right? You're not picking it for a year or six months or you're picking it for a long time

00:42:59.980 here. And so because I think where a lot of people get hung up on is they try to look at these in

00:43:05.260 these really small time scales, you know, OK, what's the last six months, last three months,

00:43:09.560 you know, whatever that might be. And I mean, you're thinking about you guys are right to say

00:43:13.140 you're thinking about 30 plus years probably of what you want your money to do. And this is how

00:43:17.480 Warren Buffett approaches it as well, is it doesn't really matter if he's buying it at an

00:43:21.220 all-time high or on a dip or this or that, because the scale of the growth over that 20 or 30 years

00:43:28.440 really is going to minimize that entry point dramatically. So whatever you're doing, I would

00:43:33.620 be confident and committed to it for the long-term there, as opposed to sort of jumping ship at every

00:43:40.380 pretty girl you see, so to speak, as it walks by. You really want to say sort of committed.

00:43:45.000 And so whether that's, you know, if that's precious metals, great. If that's, you know, Bitcoin, great. If that's the S&P, great. But I think where a lot of people get themselves into trouble is, you know, one thing to keep in mind, think of like 2008 when the market was crashing, you know, people were running into gold.

00:44:01.880 and and yeah obviously you know gold did great there but if you hope if you hold that you know

00:44:05.700 another four years you make that back and then then you have a tremendous run after that from

00:44:09.860 like 2011 to 2015 2016 so i think it's you just don't want to play that game where you're constantly

00:44:15.600 you know it starts selling when it's going lower and buy when it's going higher uh so i would just

00:44:21.460 that that's the the one tidbit i'd add in there yep well said all right just to uh finish off the

00:44:26.800 super chats giraffe neck he gave us one more super chat he said the christmas tree might be prettier

00:44:30.800 than west that's certainly true but it can't produce any charts that is also true uh wes's

00:44:36.720 chart game is off the charts but it is okay and then we've got uh one last super chat from zach

00:44:43.280 kohlberg he wrote in and said i'm a local pastor that aligns with christian nationalism and

00:44:47.680 biblical patriarchy god bless if anyone is looking for a local church in northern colorado let me

00:44:55.040 know so zach do us a favor before we end this broadcast so that we can read it live on the air

00:45:00.480 Send us one more super chat, just a dollar, whatever, just so that it registers so that

00:45:05.660 we see it because we get lots and lots of comments and give us an email because otherwise

00:45:10.280 I'm afraid that those who are listening who are in Northern Colorado won't be able to

00:45:16.500 get in touch with you.

00:45:17.260 So if you could just give us an email address, then we'll be able to send our listeners your

00:45:22.200 way, those who are listening who live in that area.

00:45:25.600 Is that an email right there, Nathan?

00:45:28.040 No, that's not.

00:45:29.380 All right.

00:45:29.580 And then one more super chat. This is from Queenan's Revenge. And it's just a $5 gift. We

00:45:37.520 appreciate that. Thank you so much. All right. That's it for our first segment. We're going to

00:45:41.160 go to our first commercial break of the day, and then we'll come back and we'll talk a little bit

00:45:45.140 about... I would like to talk about the younger generation and some of the difficulties that

00:45:52.280 they're experiencing. Because the reality is, like I said in the cold open, if you are older

00:45:56.520 and you had some dry powder and extra capital and you had saved, you already owned your house

00:46:03.640 and those kinds of things, you were able to invest, then 2025 has probably been pretty good

00:46:08.060 for you. But if you're in your 20s or your 30s, you're younger, 2025 and 2024, it has not been

00:46:17.820 great. Not been great. So I would love to get Bill's perspective on what younger guys can do

00:46:24.780 when we're living in a country that kind of is is basically racking up debt for future younger

00:46:33.280 generations so that the boomers can continue to be comfortable and you would think you know i've

00:46:39.740 been hearing i feel like it's been a hundred for a hundred years i've been hearing you know

00:46:43.500 we've got 10 more years of the boomer generation and i'm convinced at this point i think they're

00:46:48.540 going to start harvesting organs or elon's going to figure out how to build like a digital you

00:46:52.400 heart and lungs and kidneys, and they're going to build a base on Mars or the moon. And I think

00:46:58.160 they could be here forever. I really do. So how do we live knowing that our parents' generation,

00:47:04.540 this doesn't mean that all the boomers are evil. I'm not saying that, but that our parents'

00:47:08.020 generation financially is doing pretty well, but it has objectively come at a cost. Their success

00:47:14.660 has come at a cost to younger generations. So what do those younger generations, guys who are under

00:47:20.940 40. What do they do to get ahead? I'd love to hear Bill's thoughts on that right after this

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00:50:47.660 all right we want to protect the good name of bill armor god bless him a good christian man

00:50:54.560 i took those super chats because most of them had to do with the topic at hand involved bill i think

00:51:01.940 was good to have them but we've had some episodes as you know bill where the super chats are not

00:51:06.620 related necessarily to the topic of the day and some of our followers god bless them we love them

00:51:11.280 but uh they're a bit spicy and you don't necessarily have to be associated with that

00:51:15.520 on the show so this is what i'm thinking is let's let's give it i don't know let's call it 20 minutes

00:51:20.300 in the second segment i'm going to let antonio frame it with a couple charts he's got some data

00:51:25.340 west is out so i mean well this is actually the christmas tree oh the christmas tree put together

00:51:30.500 some charts for us today antonio is just going to pull them up on the slide but the old tree uh put

00:51:34.580 it together just some christmas magic so we're going to show some charts to articulate what we

00:51:38.480 were talking about right before that last commercial break about younger generations

00:51:41.600 and the economy not being so hot for them and struggling.

00:51:45.060 So Antonio is going to frame it with a couple of charts

00:51:46.980 that the Christmas tree provided for us.

00:51:48.720 And then we'll turn it to you, Bill.

00:51:50.100 You take as much time as you want.

00:51:51.720 And then when you're done, we'll just go ahead and say goodbye.

00:51:55.580 And then we'll do the super chats on our own.

00:51:57.900 How's that sound?

00:51:59.100 Sounds like a plan.

00:52:00.460 Okay, Antonio.

00:52:01.620 Yeah, so going back to what you had talked about,

00:52:04.480 you sort of alluded to in the cold open with respect to,

00:52:08.060 hey, if you've been in the stock market for 2025,

00:52:10.100 you feel like you've had a great year. Your portfolio might have ballooned 40%

00:52:14.620 because you were invested in NVIDIA and you were invested in Google and these sort of high growth

00:52:21.200 companies. And so maybe you got a new car. Maybe you decided, hey, I'm going to buy a new house,

00:52:25.200 even though interest rates are super high. I think I can afford it because my stock portfolio looks

00:52:29.080 great. Well, it really is when we talk about the economy today. And we talked about this kind of

00:52:36.080 looming kind of fear that everyone has about what really what's real, what's not. And I think it

00:52:42.620 comes down to what you can call the tale of two streets. You have Wall Street, and that's the big

00:52:48.120 investment funds. And that's all, you know, the sales and trading desks at JP Morgan and Morgan

00:52:54.520 Stanley and these kinds of people. And then you have Main Street. And Main Street is the blue

00:53:00.380 collar guy living in rural Colorado or rural Oklahoma. And he works, maybe he's a, you know,

00:53:07.520 a truck driver. Maybe he's a, he works in an oil rig. He's in West Texas or something like that.

00:53:12.700 And this, this man works a wage job. He, he for the last, probably at this point, nearly half

00:53:19.860 decade, he has seen above average inflation. And so his dollar has been weakening and weakening

00:53:26.200 month to month. He has seen virtually no increases in his wages because what we've seen from

00:53:32.340 employment data is that the employment, sort of the state of the U.S. employment isn't very good.

00:53:39.020 Companies are conducting mass layoffs, which puts downward pressure on wages. And when there's not

00:53:43.860 a lot of labor competition, if I'm a company, I'm not really going to increase wages just out of

00:53:48.100 the goodness of my heart for my employees. I'm only going to do that if they threaten to leave

00:53:53.020 for somewhere else. But if there's nowhere to go, wages are fine and I can keep my margins where

00:53:58.540 they're at. And that's really what we're talking about. And I think that the chart that the

00:54:02.040 Christmas trees provided, and we can pull this up here, kind of gets to the heart of that.

00:54:06.380 And so what this is showing is we talk about a blowout 2025, but this is actually showing from

00:54:14.060 1990 up until 2025, the percentage of stocks and mutual funds that are held by the top 20%

00:54:21.840 of earners. And so what this is showing is we have skyrocketed up almost 80, almost 90 percent

00:54:30.680 of all stocks and mutual funds are owned by rich people, wealthy people, Wall Street. And so when

00:54:37.300 we see Wall Street shoot up 40 percent or a couple of stocks shoot up 40 percent, Wall Street, the

00:54:42.060 S&P shoots up 20 percent. What that means is that the people who own 90 percent of it are doing

00:54:47.300 really well. But of course, if you work a job, you make 100K a year, maybe less, you don't have

00:54:55.220 a ton of discretionary income between rent, between food prices going up. So how much money can you

00:55:00.460 really allocate to stocks to benefit in some of the spoils that Wall Street gets to benefit in?

00:55:05.900 Not a lot. And so you can kind of contrast this view with the next chart that I'm going to pull

00:55:12.500 up, which is a historical view back to, I think, 2010 of U.S. layoffs. And so you see this massive

00:55:21.040 spike, of course, in 2020 and the shakeout related to COVID. But what you've seen since 2022 as the

00:55:27.920 economy started to recover is a slow and steady increase in layoffs that companies are conducting.

00:55:33.840 And then you see, most recently, this massive spike. And so this is what we were alluding to

00:55:38.020 in the first segment. We're talking about UPS. We're talking about Amazon. The list goes on and

00:55:42.600 on. And we're not talking about a hundred jobs here, a hundred jobs here. We're talking about

00:55:47.120 30,000 jobs here, 15,000 jobs here. Right. And so this, this is what, this is what Main Street

00:55:53.980 is feeling. Main Street is feeling, I don't know if I have a ton of job security. I don't have a

00:55:59.660 lot of opportunity to move up socially with respect to my wealth and income. And so this is

00:56:06.820 kind of the heart of i think where we're at i welcome bill's thoughts on this um what what do

00:56:12.220 you think is causing some of this uh sort of this dichotomy you could call it the widening

00:56:17.940 wealth gap the widening wealth gap yep that's right yeah i mean the first thought that comes

00:56:23.220 to mind is i think that as we see you know these these i think walmart's a good example of this and

00:56:28.400 this is not to say that the big companies are bad but this is a good example is walmart is happy

00:56:34.380 when they plug a new Walmart into, you know, an area, they are happy to lose money and lose a lot

00:56:39.140 of money in the short term to put out, you know, a nearby grocery, let's say a mom and pop grocery

00:56:43.360 chain. And that's an investment for them is to lose money until because they have deeper pockets

00:56:48.100 than the mom and the pop there. And so it's an investment for them to lose money until their

00:56:53.380 competitor, you know, mom and pop grocery store eventually can't hold anymore. They have to fold

00:56:58.120 up and then they can they can bring prices back up. So you're seeing these are this is the part

00:57:03.100 when, because capitalism is the greatest financial system in the world. But this is, to me, this is

00:57:07.660 the part when you get these companies that are so big and so powerful, where they start effectively

00:57:12.680 writing the rules. And that's a lot of what we're seeing. That's the scary part about something like

00:57:17.140 the MAG-7 to me, is that when you've got companies that dominate each space, and you see Google was

00:57:23.460 a good example, as we talked about earlier, that dominate, they get their hands into everything,

00:57:27.220 is it starts to be really hard for natural competition to occur because they can suffocate

00:57:33.160 out that natural competition. And so what that ends up being is that you don't have the option

00:57:38.500 to play as a participant in a free market economy. You almost don't have the option because you're

00:57:44.380 limited by a couple of companies that are dominating that space. And obviously, technically,

00:57:50.840 they're not allowed to collude in that way, quote unquote. But I think we all know that that

00:57:54.960 certainly happens behind closed doors. And so the average everyday person is squeezed out.

00:58:00.920 You know, on the other side of this, you think of just that, you know, generally Wall Street as a

00:58:04.660 whole, there is value in finding appropriate ways to allocate capital. That's good. That is a

00:58:12.160 positive thing. We want money going to things that will eventually be productive. I mean, you know,

00:58:16.860 things like the Ubers of the world that now people use every single day. At some points,

00:58:21.180 I wanted to find that and, you know, allocate capital and that, you know, it's the kind of

00:58:23.880 the hedge fund side of things. So that kind of thing is good. But again, there's sort of the

00:58:29.020 shadow side to all of this. And I would look back at, you know, you can do, you know, people feel

00:58:34.980 free, there's plenty of graphs on this. But, you know, leaving the gold standard, you know,

00:58:39.120 obviously, I'm a gold guy. So come take that with a great salt. But I think that we start to see

00:58:43.500 this chasm that begins to shake out over time of, you know, money becoming sort of your money

00:58:51.380 becoming devalued rather. And then the people then that have it are able to allocate it and

00:58:55.360 grow it. So I think that as life becomes more expensive, as the graphs obviously point out,

00:59:00.840 people are more and more limited. And we see, I think, the vision of, you know, like the World

00:59:08.140 Economic Bank and, you know, et cetera, of you'll own nothing and you'll be happy. And I think that's

00:59:13.380 kind of the large economic scale plan for this. And so when people talk to me, you know, what do

00:59:18.360 we do about that, I think at this point, it's really tough. I mean, we've we've and I wouldn't

00:59:25.300 say that it was so conscious, but I think that a lot of people just don't think this that much

00:59:28.780 about these kinds of things. They don't know really how to vote on these sorts of things. So

00:59:33.420 it's been allowed to occur for so long. And now we're really starting to reap what has been sown

00:59:38.700 over the last 30 years or so. You look at the national debt from 2000 today, you know, all of

00:59:44.160 these pieces are coalescing into, it is really, really hard for a normal, average, everyday

00:59:50.360 person, which is really, I think, what we want to protect in this country. So what's made this

00:59:54.260 country great is the middle class. And as that gets pushed down and destroyed over time, you

00:59:59.720 know, really stolen from even, I mean, that's what the Fed does, right? When they print money out of

01:00:03.820 thin air, they're stealing from you. It's the invisible tax. People would never vote for and

01:00:08.300 to be taxed in the way that they have been, but it's happened, you know, through again, the mass

01:00:12.020 printing. So all of that to say, I mean, it sounds like I'm just describing the problem.

01:00:17.680 That's really all you can do at this point. You know, if you're in that position, it's really

01:00:21.440 tough to get out. I think that, you know, we're going to see we get to a juncture where it's

01:00:26.780 almost, you know, these become unsustainable. People won't commit themselves to living in a

01:00:32.780 world where they can't own anything, where they can't raise a family. If our country can't provide

01:00:37.120 the ability to do that, then obviously it's not it's not a great place to be. So I think that

01:00:40.820 there's a lot of reshaping that needs to happen. How you go about that? I mean, that's a huge,

01:00:45.680 huge, huge ask. Yeah, that's a great point. I think it actually, as you were speaking,

01:00:51.220 it kind of points to something for me just in the back of my mind around the ways that our

01:00:56.040 concept even of what a flourishing economy looks like has changed. You think back to the early

01:01:02.540 20th century, sort of the trust busting that was going on at that time. You had these massive

01:01:07.320 railroad companies, massive oil companies. And they were basically buying out all of these

01:01:14.440 different local distributors and local oil companies and local railroads to create this

01:01:19.880 massive network of their own company's operations. And what they did with that was they harmed

01:01:27.900 consumers by raising prices now that there was no competition. But fast forward to where we're at

01:01:33.620 in 2025. And I think one of the reasons the FTC has had such a difficult time, to your point,

01:01:39.440 sniffing out where there's some of that corrupt non-competition happening is because we live in

01:01:46.900 a different economy where to the point of you'll own nothing and be happy, it actually more often

01:01:51.840 than not doesn't harm the consumer. You have massive companies like Google who are able to

01:01:56.860 get to the point where they're decreasing prices, they're increasing services that they're providing

01:02:02.840 to consumers or a company like Netflix, which is, you know, pumping out content and content

01:02:09.180 and the pricing hasn't changed all that much, but their IP has grown substantially.

01:02:14.020 And so we just we live in a different time where, you know, if you think back to the

01:02:18.760 20th century, 19th century, really before there was an information economy or even really

01:02:24.420 just geographic connection, you could be a local blacksmith in your sort of small county

01:02:31.660 in rural Kentucky. And you could make your way up in the world by being a great blacksmith. And

01:02:36.420 maybe you create a distribution arm or whatever the case is, and you could grow and you could

01:02:41.700 move up. But now with this cloud of massive companies with no limit geographically because

01:02:48.400 of the way that the transportation economy works and no limit to the information that they have

01:02:53.720 and how they can manage businesses on the other side of the world, you have this massive cloud of

01:02:59.460 large companies who in every corner of the country can keep the working man down. I think that's what

01:03:06.500 the economy has come to. And with no clear way to break that, break through that mold, you know,

01:03:13.820 you have the FTC, they're not going to break up a company. They're not going, you almost need

01:03:18.820 public policy that favors, it's a great idea, public policy that favors the working man,

01:03:26.340 that favors the one income household.

01:03:29.840 Otherwise, what you're going to get

01:03:31.520 is this perpetual stagnation at the back.

01:03:34.480 It's like almost like a low pressure,

01:03:36.360 like weather system,

01:03:37.140 like you're gonna get this stagnation at the bottom

01:03:39.620 and you're gonna have clouds moving 50, 60 miles an hour

01:03:44.000 overhead and there's gonna be no way out.

01:03:48.720 Yeah, I would just tack on another thing

01:03:50.740 is you mentioned sort of the information economy

01:03:53.280 and how it's grown, how interconnected we are,

01:03:54.960 is we're able to outsource so much of this.

01:03:57.500 I mean, I think of friends who are accountants

01:04:00.480 and so much of what they do now

01:04:02.600 has been outsourced to India.

01:04:04.240 And so how do you compete with that, right?

01:04:06.680 So these really are American jobs

01:04:08.820 that have been outsourced.

01:04:09.880 And that's to say nothing of obviously,

01:04:11.780 and I think Trump has curbed that a little bit,

01:04:13.660 but that's to say nothing of bringing people here

01:04:16.120 to do the same jobs for cheaper.

01:04:18.140 It's really oppressive.

01:04:19.420 It makes it really, really impossible to compete

01:04:22.300 because there is someone who is willing to do a job for far less because they're sending that

01:04:27.540 money across to India or whatever it might be. And so you're competing against that. You can't

01:04:32.260 live on the same amount that they can provide for their family across an ocean for. So what do you

01:04:37.360 do? You pick the same job, get paid nothing. So the competition that's been created is objectively

01:04:44.100 bad for the average person. Right. It's almost like you can't win in late-stage capitalism.

01:04:50.820 Either one, you have a company who's so big that the wages have just completely stagnated or you have historical capitalism, which was good, which is a race to the bottom.

01:05:01.040 How can I make something cheaper? How can I make it more affordable and get it into more people's hands?

01:05:06.200 You think of the Ford Model T. It was like, let's create an assembly line, make this really cheap, fast, sort of, you know, compartmentalized and widgets.

01:05:14.900 And then we can get it to everyone for cheap. And even in that version of capitalism, which has historically made this country great, what that's resulted in is exactly what you said. It's outsourcing jobs overseas and making things super cheap for the American worker.

01:05:30.860 but also their wages aren't going to go up and they're not going to be able to to develop any

01:05:36.200 new skills or develop professionally or grow up you know grow in in the company and so it's it's

01:05:42.720 almost like either way you go either way you take capitalism where we're at today with our current

01:05:47.580 public policy you're not going to win yeah i would even add ai being sort of a continuing this trend

01:05:56.100 And, you know, as we've talked about, this is kind of my bigger fear with AI is this

01:06:01.700 continued trend of pushing, you know, of taking jobs.

01:06:05.240 I mean, you know, think of how much you talk about manual AI.

01:06:08.200 So think we can actually do things, you know, that takes another huge chunk.

01:06:11.680 I mean, there's so much there that that can eat, you know, if you really think about it

01:06:14.940 into just the productive space that people operate in any given day.

01:06:19.460 And that can take so much there.

01:06:21.460 So what does that look like after that?

01:06:22.940 And I think that we all know the companies here, obviously, they don't have our best interest at heart, you know, nor should they necessarily.

01:06:30.060 It's not their job. You know, they're they're companies.

01:06:32.540 But I think that we reach a point where what is good for them is actively bad for the American people.

01:06:39.180 And that is, I think, the point that we've reached as a country is when most companies end goal is necessarily is bad for the average American.

01:06:49.900 And so there's this this competing sort of, you know, you know, they want more profits and we want better lives.

01:06:57.600 And those don't exactly are even cheaper things doesn't necessarily being able to pay a little less for Netflix isn't making my life better.

01:07:04.200 I can go without Netflix, but I you know, but I can't go without, you know, feeding my family, owning a home, et cetera.

01:07:09.280 So, you know, there's obviously we live in a world where we have access to a lot more things.

01:07:13.980 And that's a good thing. I mean, you know, we like that we have access to all our, you know, our toys and whatnot.

01:07:18.940 But at the same time, the minimum here to survive is becoming out of reach for most people.

01:07:25.520 And that, you know, that's the issue.

01:07:29.160 Yeah.

01:07:30.000 What you said, Bill, the point where the interest of major Fortune 100, Fortune 500 companies,

01:07:37.340 their interest becomes diametrically opposed with the general interest of the average American.

01:07:43.740 That is a point that we're not just reaching, but I think we have thoroughly reached.

01:07:48.380 and I think that it's becoming even worse by the day. And what you said in terms of the fear of

01:07:53.740 AI, especially physical application of AI, replacing average Americans in their jobs,

01:08:00.900 I think of FSD, self-driving vehicles. The number one job for men who are trying to support a family

01:08:10.040 without a college degree, which is a massive swath of the American population, average blue

01:08:16.000 collar American is, is truck driving. Well, if FSD, and here's the thing, it's not going to be,

01:08:23.120 you know, Google with Waymo or, you know, Elon with Tesla or whatever, standing up before a jury

01:08:29.340 and saying, well, my capitalism, you know, and free markets, you know, and, and we, we, you know,

01:08:39.160 let, let the best man win, you know, John Henry versus, you know, the steam engine, the locomotive,

01:08:44.920 And it's not my fault if I built something that beats the average American.

01:08:48.920 And that won't be the argument.

01:08:50.560 It won't.

01:08:51.280 I've thought about this.

01:08:52.420 The argument will be, it'll be an argument of human dignity versus human safety.

01:08:58.660 This is what it always is, right?

01:09:00.400 This was the same argument with COVID.

01:09:02.240 Well, liberty, yeah, sure, that matters.

01:09:04.860 But, I mean, your life matters.

01:09:07.760 Human safety, right?

01:09:08.620 It's always public safety pitted against individual liberty.

01:09:12.800 public safety individual liberty and that will be the art so the argument won't be well uh if

01:09:19.980 tesla you know is able to achieve you know and google with waymo is able to achieve fsd you know

01:09:26.040 and um and that you know it's cheaper to have chips in your 18 wheeler to drive across the

01:09:31.600 country than to hire a guy and pay him you know 80 90 100 grand a year uh well fair is fair and

01:09:37.140 we we beat them fair and square and so we win because you know my free markets uh that won't

01:09:41.560 be the argument the argument will be well how many people die annually in america with truck

01:09:48.080 driving accidents right and of course what will be conveniently missing from the data will be

01:09:54.460 well how many of those trucks were being driven by immigrants and not actual americans right how

01:10:01.520 many of those trucks were driven by pakistanis by indians by you know haitians by what that that'll

01:10:06.780 be conveniently missing. So literally, I mean, I think it's intentional, right? Why attribute to

01:10:11.500 ignorance when you can attribute it to sheer malice, right? The old phrase, but in reverse,

01:10:16.480 because I actually think it's just sinister. I actually think people are just evil. Not the

01:10:21.040 average person, but our elites, our leaders, I actually think it's wicked. I think flooding the

01:10:25.880 country with immigrants for multiple reasons. One, I think the great replacement is not a theory. It

01:10:31.420 is true. They've said it out loud. Another reason is to elect liberal politicians, just to buy

01:10:38.720 votes. But I think another reason is to stir up chaos so that the people will willingly, for their

01:10:47.200 safety, give more power to the state and say, save us, save us, protect us, so that you can get the

01:10:54.140 population, the entire, because the average American who are not truck drivers would sympathize

01:11:00.700 with the truck drivers and say, I don't want these guys unemployed. I don't want them homeless. I

01:11:04.720 don't want them out of a job. But if you import millions and millions and millions of third

01:11:11.440 worlders and then put them behind the wheel of a truck and they start causing accidents and all

01:11:19.760 of a sudden you can point to data and say, well, over the last decade, we've had 200,000 Americans

01:11:27.580 tragically die. Some of them burned alive, trapped in their cars because of these 18-wheel

01:11:33.920 accidents. And so the argument between Waymo and the truck driver union, these guys, blue-collar

01:11:41.200 Americans who salt of the earth that want to keep their jobs and stay employed to feed their

01:11:45.880 families, the argument won't be capitalism, free markets. No, the argument will be, well,

01:11:51.060 don't you care about the lives of your fellow Americans? And public safety matters more than

01:11:56.900 individual liberty and here's the statistics of you know at first it was a little risky but now

01:12:02.800 you know we've got a decade under our belt and with our fsd you know trucks um you know self-driving

01:12:08.520 trucks here's the casualties they've come down 90 percent from a human because there's human error

01:12:15.360 with you know and so if we have human truck when the reality is is it human error or is it more

01:12:21.100 specific? Is it a particular type of human error? Is it Pakistani error? But no, it's human error.

01:12:29.420 And at the end of the day, you guys, I know you want to stay employed, but your employment,

01:12:35.120 as important as that is, is it really worth a quarter million American lives annually who have

01:12:40.940 died in these accidents? And so not for greed, not for the bottom line, not for GDP must go up

01:12:47.720 for Waymo, but for the safety and dignity of human lives in America. We're going to have to

01:12:54.840 get rid of human, that's what's, I think that's what we're looking at. And so I'm saying all that

01:13:00.200 just to give a tangible example, right? We can play out the hypotheticals and they don't feel

01:13:04.060 that hypothetical. It feels pretty, pretty plausible. That's how it will go. That's the

01:13:09.740 lawyer's case, you know, Google's lawyers, that's how they'll argue the case in court.

01:13:14.100 they will probably win and so then what you're looking at is you know we've always quoted right

01:13:20.060 well i'm a conservative i'm a conservative christian i'm i'm a republican you know i'm

01:13:24.480 uh i'm a capitalist you know and and so we've always quoted you know verses like like the

01:13:29.540 apostle paul if uh if a man does not work then let him not eat okay but but we know that that

01:13:37.900 verse is not talking about a man who is hit by a car and is a quadriplegic and can't, well, we're

01:13:44.300 not saying the Bible says that quadriplegics should starve. The Bible says that people with

01:13:49.140 Down syndrome should starve. We've never argued that. We've always intuitively known in exegeting

01:13:54.700 the text like that, that it's the man who's not willing to work. The fully able-bodied man who

01:14:00.280 consciously of his own volition is choosing to be lazy. That that man, if he chooses not to work,

01:14:06.960 then that's a man who should be choosing not to eat. But what do you do if all of a sudden 10%,

01:14:14.120 20%, 30%, 40%, 50%, half of the country is willing to work, but simply can't?

01:14:23.220 Not because they're not able, but in all the fields that they would be able to fulfill,

01:14:30.220 there is you know some kind of ai mechanism that can do it without the human error they can do it

01:14:37.340 more safely they can do it more efficiently and we know the real reason is it they can do it more

01:14:42.840 cheaply they can do it more cheaply and and so then all of a sudden you have all these people

01:14:47.080 who are willing to work but can't find employment and the last thing that i'll say is you know i've

01:14:52.820 had this argument with some of my friends you know god bless them and they've said you know

01:14:56.600 the true, true conservatives, true capitalists, you know, and, and I'm like, guys, this time it's

01:15:01.580 different. And they're like, it's not different. Everybody has always said it was different,

01:15:04.600 you know, and then they were proven wrong. And they're like, well, the cotton gin, you know,

01:15:07.880 like people were worried that the cotton gin was going to put, you know, all these people out of

01:15:11.640 work. But what it really did was it was a tool that multiplied efforts and created, you know,

01:15:17.080 employment opportunities and whole other fields that people had not yet imagined. And that's what,

01:15:21.320 okay, this is not the cotton gin. It's not a hammer. It's not a screwdriver. It's not the

01:15:28.280 steam locomotive. Yes, AI is a tool like the cotton gin. However, here's the deal. But what

01:15:36.040 if it happens to be a tool that is shaped exactly like a human being? It has legs and arms, literally

01:15:44.320 a face can talk, right? So Joel, you're saying that a tool will replace human beings, and people

01:15:53.280 have worried about that for centuries, but no tool has ever been able to replace a human being.

01:15:57.920 Okay, what about one that's built to look and function exactly like a human being? Could that

01:16:03.140 one maybe be the first that replaces human beings? And if so, and we're more conservatives, right?

01:16:09.800 And so we're like, well, I don't like socialism.

01:16:12.140 I, you know, even Elon Musk, as rich as he is,

01:16:15.800 it's his money and he shouldn't have to give it.

01:16:18.120 And we should lower taxes.

01:16:19.360 In fact, we should get rid of property taxes.

01:16:21.660 And I've always, I've made these arguments.

01:16:23.280 I hate property taxes.

01:16:24.320 I think it's theft.

01:16:25.360 Here's the deal though.

01:16:26.320 You get rid of property taxes.

01:16:28.640 I'm just thinking, these are new thoughts for me.

01:16:30.140 I'm just going to be honest.

01:16:31.000 You get rid of property taxes

01:16:32.420 and you have AI, physical application of AI in robots

01:16:37.640 that can do what humans do.

01:16:39.800 Do they replace the highest swath of the population? Those who are 120 IQ plus, you know,

01:16:49.620 130 IQ? No. But what about guys who are 85, 90, 95 IQ who are salt of the earth? They're good

01:16:59.060 people. They're hardworking, but they're not geniuses necessarily. And they don't have a

01:17:04.460 surplus. They don't have any extra capital lying around to where like, okay, robots are coming in,

01:17:08.420 but I see the writing on the wall. So I'm going to buy 10 robots and use them to do this. And

01:17:12.920 then I'll buy 10 more. No, they don't have any free capital to do this. So all this happens

01:17:17.660 and they're not able to optimize. They're not able to capitalize on any of it because they

01:17:23.620 don't have capital. They don't have dry powder. They're living check to check to check. So all

01:17:28.380 this takes place. And then I'm looking at that. And then as conservatives, we're making the

01:17:33.820 argument that taxation is theft you know like here's the reality uh you get rid of property

01:17:39.780 taxes which i've always wanted to do i still want to do um that said you get rid of property taxes

01:17:46.380 you keep limitless immigration you also have physical ai applicant and all these you put

01:17:52.780 them all together and i think what you get this is my prediction i think what you get in 20 to

01:17:58.400 40 years is a feudal lord system yeah um without property taxes property will not turn over it

01:18:06.720 won't you can just you can just hold it forever right a wise prophet once said on um black sheep

01:18:13.000 with uh chris farley right he's playing checkers with david spade you know and he's he's on his

01:18:18.220 like fourth or fifth or sixth or seventh game losing in a row and david spade is like this

01:18:24.360 character says you know man i've never won this many times in checkers and chris farley responds

01:18:29.040 by saying well you know it's kind of easy to win when you never move your back row and here's the

01:18:35.620 thing this is how property works um no property taxes no incentive to ever move your back row

01:18:42.980 how long does it take for 10 of the population to own all the land land is finite there was only so

01:18:52.020 much land how long does it take for the gates and and then all of a sudden this feudal lord system

01:18:57.720 what you're looking at houses think of like game of thrones right you're looking at family so you

01:19:01.820 go from well i'm i'm afraid of a tyrannical state well you know what tyranny uh the state the civil

01:19:08.160 realm does not have a monopoly on tyranny right three three sovereign spheres that god instituted

01:19:13.560 the family right home church and state uh guess what all three of them historically uh have proven

01:19:21.400 quite well that they have the potential to be tyrannical. What do you call it when the state

01:19:26.580 is tyrannical, right? Like a Caesar, you know, a civil tyrant. The church, what do you call that

01:19:35.320 when the church is tyrannical? Well, you call it Roman Catholicism in the 1500s, right? Selling

01:19:40.740 indulgences, Tetzel going around every time a coin in the coffer clings, you know, a soul from

01:19:45.860 Purgatory Springs. Can you hear your great aunt screaming out in agony, you poor peasant? You're

01:19:50.640 being greedy. Give us your last shilling. So we've seen the church be tyrannical. That's possible,

01:19:56.420 entirely possible. We've seen the state be tyrannical. You don't have to look that far

01:20:00.600 back. Just look to 2020, 2021, COVID restrictions and all this kind of stuff. But the family,

01:20:06.280 what do you call a tyrannical family? Well, that can't happen. Families can't be tied. It's called

01:20:10.620 a mafia. Families ruled New York City, biggest city in America, ruled by the state. Nope. Police

01:20:18.820 were afraid to go in families ruled uh that that entire city um and and so i think you know like a

01:20:28.400 game of thrones you know like well in our case house musk house bezos house gates house zuckelberg

01:20:35.520 what what do you do when when five families private institutions conservative five families

01:20:43.500 own every square inch of land in america um and everyone ultimately is renting borrowing from

01:20:52.280 them and it's like well you know well um we we protected our our you know sacred conservatism

01:20:59.160 um it's not the state okay well you better hope you better hope that those five families are more

01:21:05.400 benevolent than the state um you know and and you're now a serf with a feudal lord you pledge

01:21:13.800 your fidelity hopefully uh he he makes some kind of provision so that you can feed your kids

01:21:20.240 so like i know it sounds a bit you know hyperbolic it sounds a bit dramatic but i i don't think that

01:21:29.480 it's, I don't think it's improbable. I think that it's absolutely possible that within 20 might be

01:21:38.380 a bit, a bit ambitious, but within 40, 40, 50 years that you could actually have a great shift

01:21:46.460 away from governments to privatized corporations. And we think, oh, corporations, like corporations

01:21:53.260 really, what they represent is families, except it's worse. The invention of the corporation

01:21:59.260 is families without any accountability it's families without any like fiscal liability

01:22:05.100 it's so like when you think corporations it's still a man it's still a family a house standing

01:22:10.920 behind it it's gates it's zuckerberg it's this except now um if if meta does something that

01:22:17.060 ends up you know killing a bunch of people uh it's it's still zuckerberg house zuckerberg

01:22:23.140 that's responsible except he doesn't have to go to jail right it's just his corporation gets some

01:22:28.620 kind of penalty and he can go and do it again so it's actually worse than the feudal lord system

01:22:33.760 it would be like because the lord still had some kind of recompense the the lord's you know you

01:22:38.920 knew who they were you knew where they slept if all the peasants under you know on on his fiefdom

01:22:43.860 were being deprived by him then they would ransack his his his mansion and pull him out of his bed

01:22:50.720 you know i think of like like braveheart you know he's rounding up all the scottish lords you know

01:22:55.200 in the middle of the night who who betrayed him you know and killing them in their sleep but what

01:22:59.500 do you do when it's these corporations and and nobody even knows where zuckerberg lives you know

01:23:05.680 and you can't find him and he's in the court system can't hold him accountable and you know

01:23:10.000 so i i think it's a big deal obviously all right there's my soapbox but i think it's a really big

01:23:15.800 deal and i'll be honest um as much as i don't like a big state because i have all my conservative

01:23:24.160 inclinations that have just been there for years and it just feels like like compromise um i'll be

01:23:32.600 honest i think a big state in some aspects not in every arena but in some aspects i think i'd rather

01:23:38.620 have a big state than five big families if we're talking about the american families right millions

01:23:45.500 of families and them holding collective power that is greater than the state i'm on board that's what

01:23:51.900 I always thought of when I was championing the family as a conservative. I was thinking about

01:23:56.700 multiple families, the average family, the American family, the Christian families.

01:24:01.400 I was not thinking about out of 300 million people in a country, five or 10 families,

01:24:09.140 none of them being Christians, having any Christian profession whatsoever to speak of,

01:24:14.680 and them replacing the state in terms of influence, power, wealth. That does not sound like capitalism

01:24:24.000 for the win. That doesn't feel like a win. That feels like Mr. President, actually we're losing

01:24:29.540 too much. Could we stop losing? So to round out the episode, I'll let you, Bill, have the final

01:24:36.980 word to that. Do you think crazy that I'm just out to lunch, that'll never happen? Or do you

01:24:41.200 think it's possible? And if it is possible, what in the world do we do? I would say it's happening.

01:24:47.560 I mean, BlackRock is doing this as we speak. I mean, one of the targeted buys here is

01:24:54.220 multifamily housing, even single family housing, with the goal to rent in large swaths, right?

01:25:01.180 And over time, you know, they continue to accumulate property. And I think that's the

01:25:05.400 end goal, right, is they don't ever want to sell that property. They want to move that into rentals.

01:25:08.920 and it continues you know you'll see you know housing prices go up as a result of that which

01:25:13.780 again if you own a house at the time that's great you know housing prices are going up but it

01:25:18.020 continues we're seeing this people getting priced out of buying a house and i think that this

01:25:22.260 continues i think you're right i don't think it happens tomorrow but i think we're on that

01:25:26.500 trajectory and i think at some point you run into i mean people decide you know if this is

01:25:35.280 untenable, then they react as such. Right now, I think a lot of people are willing participants

01:25:42.000 in the sense that they are unhappy, but not unhappy enough to necessarily do anything

01:25:47.840 to stop that. And I hope that obviously that things do change. I think that there's some

01:25:52.980 things that give me hope. But at the same time, I definitely see the shadow side to where this

01:25:57.940 can absolutely develop that way. So in the meantime, I think that the best thing people can

01:26:02.700 do is, you know, is, is I think accumulating wealth sort of insulates you in some ways from

01:26:08.300 this. And, and, you know, hopefully, hopefully, you know, you're not one of those people that

01:26:12.980 has to go. And I think about, you know, okay, well, maybe because people say, well, you know,

01:26:16.960 there's always gonna be operators for the robots and whatnot, but you don't want to have to go

01:26:20.500 into, you know, $300,000 in debt to get a, you know, a PhD in order to, you know, opt to, you

01:26:25.960 know, man, fix these robots or something. I mean, there's people, even average everyday people that

01:26:31.740 may really want to do and may be smart enough to do things, you know, eventually get priced out of

01:26:36.760 that via just the cost of education and, you know, how much schools are making. So I think there's

01:26:41.200 even more there. It's a broad subject. But I would say in the meantime, you know, planning ahead 30,

01:26:47.720 40 years, the way that you really insulate yourself from that, as weird as it sounds,

01:26:52.600 is to accumulate wealth, is to save, is to be someone that is prudent in that way, not to just

01:26:58.900 be so flippant about the way, because the way that we live now and the fact that you're not

01:27:04.400 going to have the same earning potential in the sense that maybe you can't work as much when you're

01:27:08.280 60 as you can now. So I think people that are around my age, our age, should be really productive

01:27:14.020 members of society. They should go out there, they should earn, they should save. And obviously

01:27:17.880 there will come times where we're able to push against the system. I think that I have my love

01:27:24.240 by hate for for president trump um in different ways but i would say that um in some ways he's

01:27:29.100 also been uh he has bucked that system a little bit and so i think that there there will come

01:27:34.000 forks in the road over the next you know 20 40 years where people have to choose the status quo

01:27:38.900 or something different i think a lot of this is going to have to be something different

01:27:41.900 yep well said all right right here at the end uh do us a favor thanks so much for coming on the

01:27:47.120 show we appreciate it you've been really helpful i think this is correct me if i'm wrong but is

01:27:51.080 this your fourth time joining us now or third? That sounds about right. Fourth. Yeah. Okay. Well,

01:27:56.820 you've been a blessing and your knowledge of the economy and investment has been really helpful.

01:28:02.640 These are things that a lot of young people don't necessarily want to think about or talk about.

01:28:07.120 But as you have said, as we have said, it's absolutely paramount that we think ahead.

01:28:12.920 We think about our family's legacy, that we think about provision. And we recognize that

01:28:17.320 in many ways, it's like the train is leaving the station, has already left the station.

01:28:23.160 And right now, if by the grace of God, you sprint, you might be able to catch it.

01:28:28.160 But that window is closing in real time. Every day you can feel it getting away from you.

01:28:34.800 And so making wise decisions now is absolutely vital. So right here at the end of the show,

01:28:41.220 for any of our listeners who want to diversify and, you know, maybe they don't YOLO everything,

01:28:47.320 into gold, but diversify and put some portion of their portfolio, whatever it is, even if it's

01:28:54.020 like, man, I'm barely getting by, I've got $1,000 total for all investments. I think all three of

01:29:00.960 us would agree that if you have $1,000 total for investments, a couple hundred would be wise to

01:29:06.500 invest in precious metals. Gold has stood the test of time. And so if anybody of our listeners wants

01:29:13.680 to invest with Genesis Gold Group,

01:29:16.460 could you give them a place where they can go?

01:29:20.000 Yeah, absolutely.

01:29:20.980 So I think we have a URL there

01:29:24.640 that will be in the link, if not.

01:29:27.100 In the show notes, yeah.

01:29:28.700 Yeah, and then additionally,

01:29:30.360 and that obviously we'll put out a request

01:29:32.420 and we can reach out and get you information,

01:29:34.660 figure out what your situation is,

01:29:36.480 how you might go about that, what that looks like.

01:29:39.880 Hopefully I've been presented the reality,

01:29:43.100 which is, you know, we're not some, you know, company that's going to be on there saying you

01:29:46.280 got to do every penny, you got to do it now. And we don't, I don't work at a used car dealership.

01:29:50.860 But, but certainly, you know, helping people, specifically, you know, Christians that, that,

01:29:55.880 that understand where we are now, and where we're heading and want to protect, you know,

01:30:01.420 both themselves and obviously their families, their family's future, they can reach out to

01:30:05.840 obviously via that, that link there, or request for information, or they can call 1-800-200-GOLD.

01:30:12.460 Again, that's 1-800-200-GOLD.

01:30:14.900 You can speak to a representative.

01:30:15.800 You can ask for me directly.

01:30:16.900 Again, my name is Bill.

01:30:18.120 I'm happy to break down what your situation looks like, what kind of options you might

01:30:22.840 have.

01:30:23.600 You've got, obviously, the traditional sense of money in the bank, savings and whatnot.

01:30:28.500 You want to convert that into metals.

01:30:29.980 Always an option.

01:30:31.280 Lesser known way, you've got the option of 401ks, IRAs, TSPs, all of these different

01:30:36.720 avenues that you can take some of those funds and actually convert them into metals.

01:30:42.040 opposed to maybe the market maybe you do look at the market uh maybe you disagree in some ways and

01:30:46.680 you do think we're in a bubble or even just for the time being you're not sure and you want to

01:30:50.520 park some in metals those are all options for people and again we're happy to to figure that

01:30:55.400 out and see what that looks like for any any person that's interested great well thanks again

01:30:59.320 bill for coming on the show we greatly appreciate it you are free to go you've fulfilled your

01:31:03.400 obligation we will take the rest of the super chest without you but we hope to see you again

01:31:07.240 perhaps early in the new year. I'm sure we'll have plenty to talk about. I feel like December,

01:31:13.900 November was crazy. November was incredibly volatile in the market. And I'm hoping that

01:31:19.840 December is not so negative. I'm hoping for some good news, a rate cut, things like that.

01:31:25.600 But either way, whether it's positive or negative, I do feel like December is going to make some

01:31:30.840 headline news with just the economy. And so I'd love, if you can, we'll get back together hopefully

01:31:38.580 in the new year and talk again. Sounds like a plan. God bless you guys. Have a great rest of

01:31:42.740 the show. All right. You too. Okay. Nathan, let's go ahead and throw up the super chats for the rest

01:31:48.580 of the day and we'll try to knock those out. So this is from Zach Kohlberg. Okay. So this is the

01:31:52.940 pastor. If you were with us earlier on in the episode, some guys are just now tuning in because

01:31:58.020 we're still in the live broadcast. But if you were with us from the beginning, he wrote in with a

01:32:02.980 super chat saying that he is a pastor who is Christian nationalist friendly. He is biblical

01:32:07.820 patriarchy friendly on board with these principles. So he's our guy. And he is a local pastor of a

01:32:15.200 church located in North Colorado, I believe is what he said. So the northern region of Colorado.

01:32:22.320 But he didn't give us a link for people who might be in that area and might want to check out his

01:32:26.420 church. So he's getting back now. He gave us a $2 super chat. He said, I'm trying to put

01:32:30.200 in my email, but it won't send. And then he gave us another $2 super chat. So YouTube,

01:32:35.560 we thank you from the bottom of our hearts for making things difficult so that he had to give

01:32:38.700 us more super chats. I feel like we're talking about major corporations gouging people. Well,

01:32:45.100 this one actually worked in our favor. So anyway, sorry about that, Zach. I wish it would have

01:32:49.400 worked, but he came back with a second try. He said, the name of the church, I can at least give

01:32:54.280 you that. It's Sherwood Park Baptist Church in Greeley, Colorado. So the name of the city,

01:33:02.220 Greeley, that's G-R-E-E-L-E-Y. G-R-E-E-L-E-Y, Greeley, Colorado. That's the name of his town.

01:33:10.120 And the name of the church is Sherwood, S-H-E-R-W-O-O-D, Sherwood Park Baptist Church. So

01:33:18.360 check it out. I'm sure they've got a website, and I'm sure that Pastor Zach would be happy to have

01:33:22.880 you on a sunday morning next super chat antonio you want to take it yeah uh mcvolcat sent uh

01:33:28.840 two dollars thanks for that and says xers generation x me uh and boomers should buy

01:33:34.420 our kids houses amen that's so true i actually recently learned this um rare france w no way

01:33:40.700 that france actually has uh inheritance laws i think it's something like 30 percent of your

01:33:46.120 wealth has to be passed down to your children um you couldn't give it away you know you have

01:33:51.720 all these billionaires you're like oh i'm 99 of my wealth i think there's a wealth pledge or

01:33:55.740 something like that that like warren buffett has signed and bill gates have signed which is

01:33:59.200 basically saying like i'm going to give all my wealth away 99 now to be fair 99 of 130 billion

01:34:06.520 dollars leaves quite a lot for your children but the point still stands that in western the western

01:34:12.300 tradition um in in the biblical tradition yes there is a command to leave an inheritance for

01:34:18.560 your children and so uh france's laws uh reflect that i'm sure there's other european countries i'm

01:34:23.820 not aware that have laws like that but you know who doesn't the greatest country on earth yeah

01:34:28.180 america oh america america america yep uh you're right mc volcat we appreciate that that's uh you

01:34:35.980 know as we're talking about like how is the younger generation going to make it economically

01:34:39.700 it seems like the train has already left the station feels like there's no hope um well one

01:34:44.900 hope, and it really is a major part of God's design, it is absolutely biblical, thoroughly

01:34:53.300 biblical, is that a good man, the Proverbs say, a good man leaves an inheritance not only for his

01:34:58.760 children, but his children's children. So looking two generations down the pike and wanting to set

01:35:05.820 up both your children and your grandchildren. I saw a post from someone just the other day.

01:35:09.880 um you know what i'm gonna i'm gonna look it up because it was so good i'd like to just read it

01:35:15.400 but he was talking about leaving an inheritance to your children but but the significance of the

01:35:19.660 timing of that inheritance right so if you die at 90 years old um and your children are now 65

01:35:26.360 you know um 65 years old receiving an inheritance is helpful but not super helpful um not nearly as

01:35:36.440 helpful is receiving that inheritance or at least a portion of, you don't have to liquidate

01:35:42.640 everything, but a portion of that inheritance when you're in your 20s or your 30s and buying

01:35:47.060 your first home. And so I'm going to look for this real quick. As I do, can you go ahead and

01:35:50.900 we'll come back to Volcat because I want to make a point on that about Gen Xers and boomers helping

01:35:55.560 their children and children's children by leaving an inheritance. And I want to make the point about

01:36:00.160 the timing of at least a portion of that inheritance and how it matters so much. So we'll

01:36:05.120 come back and i'll find this uh this quote and read it but in the meantime can you go on antonio

01:36:10.580 with the next super chat yep uh neno business uh great name neno business uh sent twenty dollars

01:36:16.860 we really appreciate that and says i appreciated the nod to john cooper of skillet this is we

01:36:22.780 mentioned on a couple episodes ago and i think they did uh i forget the christmas uh song was

01:36:28.320 it oh holy night uh oh come oh come oh come oh come emmanuel they did a sort of heavy metal or

01:36:34.000 at least the last portion of the song was a sort of metallic version of that song. It says,

01:36:39.780 I appreciated the nod to John Cooper of Skillet a few episodes back. It's ironic that John,

01:36:44.740 a rock artist, seems to be quite based while many quote unquote worship artists seem squishy and

01:36:49.260 fake. Future episode on Christian music, maybe, question mark. Yeah, that is something that's

01:36:56.100 true. I don't know, you know, candidly, don't know a ton about Skillet, but I have seen here

01:37:00.980 and there, references to, I think, one of the members of Skillet being pretty based. And so

01:37:06.260 we love to hear that, even if it doesn't necessarily suit our music tastes. Wes is here.

01:37:11.460 Wes is here. He'd make a different point. But no, I think that actually points to something,

01:37:17.180 you know, as we called the Be Fruit Sniffers, points to something true about the heart of that

01:37:21.840 band. And yeah, and maybe we'll do an episode on Christian music. I think that could be good.

01:37:27.180 Yeah, I'd be down for that. John Cooper is solid. He is one of the few guys who's been

01:37:32.500 in the Christian music sphere over decades now, at least two decades, and did not compromise.

01:37:39.560 Many, many, I mean, you go back and look at who was popular in the 1990s, early 2000s in the

01:37:44.800 Christian music sphere, and they're all gay furries and transvestites and XYZ. And John

01:37:51.540 has remained um theologically solid and uh yeah not my not my favorite style um so i i will not

01:37:59.560 be partaking personally um in a heavy metal version of oh come oh come emmanuel i think

01:38:05.540 they nailed it the first time um they being the the people who actually wrote the song

01:38:10.000 not skillet uh however you just i i don't you're just not going to get me to bash skillet um john

01:38:18.000 cooper has been phenomenal grateful for him um and i'm sure that they put out plenty of music that

01:38:24.760 that is that is great yeah yep uh and then we have zach kohlberg in the chat he sent another

01:38:30.500 two dollars uh just creating a thread here uh he says he's included the link right below in

01:38:36.260 the super chat is that there nathan uh i think youtube's blocking it but i put it it lets me do

01:38:40.880 okay yeah so so nathan has put the uh link there in the chat uh for folks that are interested in

01:38:48.700 again that's greeley colorado if you're in the area go ahead and uh check out um this church

01:38:54.800 zach kohlberg's church what's the name of it again it's sherwood park baptist church

01:39:00.820 yep sherwood park baptist all right are there any more super chats because i'm still not finding

01:39:05.840 this i'm trying i'm trying i like it i like to think that i'm just dangerously close but at the

01:39:12.820 same time i also feel so far so far um all right i cannot find it which is a bummer because it was

01:39:23.000 such a great post and i can't even remember who posted it but somebody said something on x

01:39:27.700 a while ago, a few days ago, and I shared it. But he was just talking about, essentially just

01:39:36.280 talking about the timing, the significance of the timing of leaving an inheritance to your children

01:39:42.040 when they're younger, in their 20s or their 30s, so that they're able to actually

01:39:46.960 purchase property, purchase a house, get ahead. And he just kind of gave a little bit of math

01:39:53.980 and some of the principles about why it makes like a life and death difference over the course

01:40:00.840 of a person's career to receive that inheritance earlier. Do you want to just generally speak to

01:40:06.680 that, the timing of money? I mean, you're an economy guy, Antonio, like just the way

01:40:12.320 compound interest and these kinds of things, the way that money works and why it's not just the

01:40:17.160 amount, like the old adage of time in the market is better than timing the market. Can you speak

01:40:23.820 to that a little bit? Give me just a couple more moments. So, and just for the record, so I studied

01:40:27.800 finance. I got my undergraduate degree in finance. And one of the core tenets of a finance degree is

01:40:34.000 something called time value of money. And it essentially, you can sort of think about it in

01:40:39.060 terms of a question. It's, would you rather have $1 million today or $2 million a year from now?

01:40:46.740 And the right answer to that, when you sort of go through all of the economic principles is you'd

01:40:51.340 rather have money today. And there's all sorts of reasons that that's the case. One is compounding

01:40:57.060 interest. You could say, if I had a million dollars today, I could invest that in a small

01:41:02.640 business. I could invest that in the stock market and I could see returns that allow me to generate

01:41:08.600 additional income. But there's also another element, which is risk. Things change through

01:41:14.220 time. And so to use the analogy of inheritance, right, you could say, I will give all of my

01:41:21.280 children's money, their inheritance to them when they're 65. But the stock market could also crash

01:41:26.940 when they're 63, and you have less to give them. And so that's that sort of risk element or time

01:41:32.200 risk element to money. And so you figure between investing and getting compound interest between

01:41:38.360 the certainty of having the money now, and being able to do something with it productive now,

01:41:43.240 Now, between those two things, how we typically talk in finance is we say money that's in the

01:41:51.340 future is discounted. So if I had $2 million 10 years from now, what I do to find the proper

01:41:57.480 valuation of the $2 million is called time value discounting. I essentially say $2 million 10 years

01:42:05.280 from now is approximately, depending on the formula you use, $1.2 million today. And that

01:42:11.380 would factor in theoretically the risk and that would factor in opportunity costs which is another

01:42:16.620 sort of economic principle that i didn't mention which is i can do something yeah exactly so um

01:42:21.800 and and it works the same way with inheritance obviously when your children are young or they

01:42:25.780 come of age they're going to lord willing have children in their early 20s or mid 20s they're

01:42:31.200 going to need to be able to provide for those children um they are going to want to buy a house

01:42:35.880 maybe have some land that those children can be raised up on. Maybe that land has elements like

01:42:42.240 a family farm or a family garden. Those things cost money. There's upfront infrastructure costs

01:42:47.040 that an inheritance today could help supply. And an inheritance when they're 65, the window of

01:42:54.220 opportunity there has far beyond close. And so that's the general sort of concept there. Of

01:43:01.560 course, to your point, it doesn't mean when my child turns 20 and I have $5 million or $2 million

01:43:07.460 or even $500,000 stored up for them, I give it all to them at that moment. There's a prudential

01:43:14.100 assessment of needs that has to be undertaken. Hey, what are you going to use this money for?

01:43:18.820 How can I help you? Those questions are important when you're giving inheritance to your children.

01:43:23.260 So because again, you're their parent and even into their young adulthood, you're there to

01:43:29.780 uh shepherd them uh financially and otherwise and so those things all come into consideration but

01:43:35.000 um but yes the point is a very true point of how can i help my children now uh which is totally

01:43:42.720 contrary to the boomer mentality of what i had to struggle i i went through it and i had to figure

01:43:49.480 it out granted it was a far better economy and a lot more opportunity and a lot more growth

01:43:54.060 potential but i had to figure it out my children will figure it out as well and that's just not

01:43:58.520 the state of the, not only is that just antithetical to sort of the biblical principles and the

01:44:03.200 general equity thereof that apply here, but it's also just flies in the face of reality.

01:44:09.420 Yep. It flies in the face of scripture and reality. Well said. I found the quote, so this

01:44:13.940 is from, I don't know anything about the guy. So like if he's got a bunch of other things that are

01:44:18.600 bad, then, you know, take it with a grain of salt. I don't know. So I can't give like a full

01:44:22.720 endorsement. But at the same time, I do want to acknowledge, give credit to the post that I'm

01:44:28.880 reading. So the handle is at Kurt, that's K-U-R-T, soup, S-U-P-E, CPA, at Kurt, Kurt Soup CPA.

01:44:40.100 He posted this. Your son makes $92,000 a year and just turned 40 in a rental apartment.

01:44:46.600 You have 5.1 million collecting dust. Explain that to me. My client watched this happen for

01:44:52.160 three years. He said, I don't want to enable him. Enable him to what? To own a home? To stop

01:44:58.460 bleeding $2,800 a month in rent? Enable him to give your grandkids their own bedrooms?

01:45:04.500 We finally structured a $225,000 gift last month. Now his son owns a home. The grandkids have a yard

01:45:13.040 to play in, and he gets to hang out with his grandkids in a space that they'll remember forever.

01:45:17.740 your kids don't need your money when they're 65 years old they need it when they're 35 when houses

01:45:24.080 cost five hundred thousand dollars on average daycare is twenty four hundred dollars a month

01:45:29.220 now we're not a fan of daycare here with right response ministries but translate that to being a

01:45:35.260 single income household right because daycare is mom which means that you know this guy he doesn't

01:45:42.460 have the same virtues and principles that we do um of wanting children to actually be raised by

01:45:47.520 their parents. But he's saying daycare is expensive. It costs $2,400 a month. And he's

01:45:52.800 assuming, right, if he's saying daycare, then that assumes that you have a two-income household.

01:45:57.600 Mom is working out of the home. So you have two incomes and you're still not making it. So

01:46:01.560 his overarching point that he's making is even more applicable for our listeners who are striving

01:46:08.680 to, you know, for wives and mothers per Titus chapter two in scripture to be keepers of home,

01:46:15.620 right so so then you're not paying the $2,400 a month for daycare but what you're the cost that

01:46:21.940 you're accumulating instead is the entire annual income of a second breadwinner because mom is

01:46:29.700 actually mom and she's actually at home so it's actually even more expensive so houses cost $500,000

01:46:34.420 average daycare is $2,400 a month student loans on average are $87,000 hope is running out why not

01:46:41.140 give your kids the inheritance while you're still alive to see them use it. Well said.

01:46:47.880 I don't want to enable him. I love that part. Enable him to what? To own a home? To stop losing

01:46:53.100 $2,800 a month in rent? To give your grandkids their own bedrooms? Now your son owns a home.

01:46:59.120 The grandkids have a yard. He can get to hang out with the grandchildren in a space that they'll

01:47:03.660 remember forever. I think that that's profoundly well said. And I hope that most of our listeners

01:47:11.780 are younger, but I hope for some of our older listeners. Now, granted, the very first part

01:47:16.600 of that post was you have $5.1 million accumulating dust. I recognize that that's probably not the

01:47:23.620 case for every one of our older listeners, right? You might be saying, well, if I had $5.1 million,

01:47:29.040 dollars then i'd give an inheritance okay well then just you know act accordingly right so it's

01:47:35.320 like okay i don't have 5.1 million dollars i have 2.1 you know i have 1 million dollars um okay well

01:47:41.600 you you don't want to be a burden financial burden on your children so you can't give all that away

01:47:47.440 or you know if you only have a million dollars you can't even give you know a significant portion

01:47:51.820 of that away but is there anything that you can do um can you help them you know with um you know

01:47:57.260 making a down payment so they can skip the PMI, you know, interest. And maybe they, you know,

01:48:02.540 you do half the down payment and they do half the down payment. So you're, you're helping them with

01:48:06.740 10% of a home purchase. You know, there are ways that you can help them, but the principle still

01:48:12.400 remains. A little bit of financial help when your children are in their thirties goes further than

01:48:20.360 a lot of bit of financial help when your children are in their sixties. And so it's not just the

01:48:25.440 amount of money, but it's also the time, the time of value and considering that. So that's it for us

01:48:32.640 today. That's the episode. I hope that you guys have been blessed by it. I hope that you make

01:48:36.540 wise financial investments and are able to accumulate wealth, not as an end in itself,

01:48:42.820 not merely for your comfort or joy or happiness. Money can't produce those things, but you

01:48:47.400 accumulate wealth as a tool in order to wield it righteously for the good of your children and

01:48:52.380 children's children and ultimately for the glory of god thanks for tuning in and lord willing we'll

01:48:57.160 see you again on wednesday at 3 p.m central time god bless hey friends gray toad tallow is a family

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The NXR Podcast - December 02, 2025

THE LIVESTREAM - Recession Warning： Consumers Freeze Up ｜ Job Losses Pile Up Nationwide

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