38 Burst results for "About 25"
A highlight from Why FTX Might Try to Claw Back Funds From Retail Customers- Ep. 547
"I mean, these are all fraudulent transfers, potentially while the debtor was insolvent, potentially while it was coming to lift funds, so clearly all that money has to come back. I think that's pretty easy. The question is like, what's it worth now and who can actually pay it back? Hi, everyone. Welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago and as a senior editor at Forbes was the first mainstream media reporter to cover cryptocurrency full time. This is the September 22nd, 2023 episode of Unchained. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. Today's episode is brought to you by Overtime Markets, your premier Web3 sportsbook. The innovative protocol is changing the game one match at a time. Powered by Thales, explore more at OvertimeMarkets .xyz. Arbitrum's leading Layer 2 scaling solution offers you ultra -cheap and lightning -fast transactions, all with security rooted on Ethereum. Visit arbitrum .io today. With the Crypto .com app, you can buy, trade and spend crypto in one place. Download and get $25 with the code LAURA. Link in the description. Today's guest is Thomas Brazile, founder of 117 Partners. Welcome, Thomas. Hey, Laura. Good to see you again. This week, FTX sued Joseph Bankman and Barbara Fried, the parents of former FTX CEO Sam Bankman Fried, alleging that Bankman was intimately involved in a number of the allegedly fraudulent schemes such as silencing someone who threatened to expose the alleged FTX fraud, the purchase of property in the Bahamas. Barbara Fried encouraged the use of strong donors as campaign finance laws, or allegedly, and both were accused generally of either knowing or ignoring the red flags that FTX was in solvent. Was this development surprising or expected? Thanks for having me on, Laura. Good to see you, as always. Was it surprising? No, I don't think it was that surprising. I think what was in the lawsuits in bankruptcy referred to as adversary proceeding, but what was seen in the adversary proceeding was probably a bit shocking, the actual details. But I think people knew that they were pretty involved. And I think that was some of the heat they were getting post him getting a criminal complaint against him was that, you know, why is he hanging out with his parents, weren't they involved in a lot of parts of the business, and people were saying things like that. I don't think it's that unexpected. People I think long knew that there were some real estate transactions where they were gifted or given some certain real estate in the Bahamas. But to see it all laid out in the complaint or I should say in the adversary proceeding was interesting, you know. And yeah. Which items in particular really struck you? I guess it's the involvement like in the actual day -to -day stuff. I mean, if you come from a corporate background or were a tax lawyer, which is that I guess was is, and that there wasn't more, I don't know, structure to the organization. I mean, you know, the dichotomy between what people thought pre -petition, what John Ray sort of said post -petition, and now some of the revelations coming out about the pre -petition activity. I mean, it's just kind of amazing to think about people that might have been a more corporate background and saying like, if the business was so profitable, why were you cutting corners? And, you know, to be fair to these guys, like in the, you know, in the light of day, sunlight of bankruptcy court, which as, you know, people in bankruptcy say, like my parents would say, like, the last place you want to be as a criminal is in bankruptcy court because there's so much sunlight and everything, you know, everything is good scrutinized. And to be fair to people, sometimes the stuff gets overly scrutinized and they cherry pick stuff that went on. But it seems pretty damning, some of the stuff and, you know, let's see what the responses will be. I mean, it's good for the estate and it's good for creditors because I'm sure they want to see, you know, sort of retribution. But in terms of recoveries, I don't think it's going to be incredibly meaningful, you know, 10, 20, 30, 40, 50 million dollars. I mean, that's, I don't know, maybe two months of bankruptcy fees. And so, you know, earlier when we were talking about like how some of the things are particularly damning, like if you were to kind of say, FTX will win in court, you know, for these reasons, like which were the particular acts that you think probably will put things over the edge? Oh, yeah. I think almost all the stuff though, they'll win on the merits of the fraudulent conveyance. I mean, these are all fraudulent transfers, potentially while the debtor was insolvent, potentially while it was coming with funds, so clearly all that money has to come back. I think that's pretty easy. The question is like, what's it worth now and who can actually pay it back? Like if money was given to a charity, can you actually go and get it back? Like meaning, is it there? Has it been spent kind of stuff? And you know, you can only squeeze a, you know, whatever, rock so hard. So the question will be, you know, what is the real estate in the Bahamas worth? The 10 million bucks or whatever that was gifted to them, where did that money end up going? Can they trace it? So these things cost money to do and then the question is like, how much of an effort do you want to make? And of course, you know, all that can be stopped by a criminal investigation, which there isn't a complaint, but clearly some of the activity could be considered criminal. And I think, you know, I won't pretend to be a criminal lawyer or a lawyer at all, but when you're bringing lawsuits, I mean, basically these are kind of like preponderance of evidence standards versus like, you know, higher standards that you might have for criminal complaints. So it's easier for John Ray to like stitch together some stuff they know and slap an AP and sue these guys. But it's a little harder from the criminal side. But all of it, just on facially, I mean, of course, as my lawyer likes to tell me, like, you know, facts matter, Thomas. So it is more discovery happens than they take discovery. We'll see. But on the face of it, I mean, it looks pretty, pretty obvious that it's sort of slam dunk. Just the question is what they'll actually be able to recover. Yeah. I think one of the ones that stuck out at me simply because I could very easily imagine myself in a similar position with my own parents and I could just picture what my mother would say. And it was when they purchased the Bahamas property and everything was just getting billed or allegedly in the complaint to FTX. And the parents didn't even make an attempt to pay to furnish their home themselves. And I could just imagine something similar was happening with my mother. She would be like, wait, is this OK that we're doing this? Like, you know, she would have so many questions about the money and like what was OK, what was kosher, what was not. Like, I could just practically hear her in my head. But at least, you know, from what the complaint described, it didn't feel at all like the parents had any of those qualms. So that was. Yeah. It wasn't 100 percent owner of FTX. So it is bizarre that those red flags wouldn't have been or people wouldn't have been like, hey, I know that you think this is OK, but I don't like someone would have said something. Maybe they thought it was a drop in the ocean. But if FTX is so wildly profitable, I mean, it was so wildly profitable, they didn't need to cut in corners and have them picking up the checks. I mean, it would have been easy for Sam to just be like, no, I'm picking this up personally or something. Well, one thing that I also notice is that the document hedges its language, saying things like, quote, Banquin and Freed either knew or ignored bright red flags, revealing that SPF and other insiders were orchestrating the scheme. And again, you know, I saw later again, it was like they either knew or blatantly ignored. So right. Yes. That's because the standard for these civil cases is much lower. You know, like if you were trying to criminally try them, you'd have to like really show that they knew because they're going to say they didn't know, they didn't know, right? But the standard for breach of fiduciary duty or unjust enrichment, it's a much lower standard. All you have to basically show is a reasonable person should have known, you know? Oh, oh, I see. Yeah. So that's why I keep saying that. So you're saying, so basically they don't know whether or not they knew, but it doesn't matter for what they're trying to do. Is that what you're saying? I will respectfully say that I'm not a lawyer, but a stress investor. And what people usually say is the standard is usually what a reasonable person should have known, steps a reasonable person should have taken, best practices that a board should have taken. So like a board of director, if somebody runs off with money in a company, they don't have to necessarily show that they knew the person stole the money, but did they take any steps a reasonable person would have taken to like verify that the money was there, that the person wasn't absconding with money or whatever. So it's just this reasonable person standard that I think you trigger under Delaware and under a lot of jurisdictions for breach of fiduciary duty or breach of loyalty, duty of care that you have, mainly in the boardroom, but also I think as a C -suite executive and it sounds like he was sort of melding between the two. So basically, yeah, they're just trying to meet that standard for their purposes. They don't need to go beyond. And Barbara Fried, you know, also, so as far as I understand from reading this, you know, Sam Pinkman was definitely involved more in the day to day. You know, he was often listed with FTX management. He you know, could make executive decisions on his own at one point saying, oh, I'm just going to make this decision without Sam, like we don't need to involve him, that kind of thing. So Barbara Fried was not involved at that level. However, it did say that she was a key influence on the campaign donations. And I wondered what your takeaway was in that regard in terms of, you know, her involvement there. Campaign finance fraud? Yeah. Again, I don't have too much to say other than it's just bizarre that, you know, so many corners were cut in regards to stuff. I don't have a real view on. Again, it's like it helps them build a story that they can, you know, just slam dunk, take back any money that was taken out of the estate at any point in the last couple of years by Barbara and the husband. But I don't think that I don't have a real view on that. Yeah. Okay. Yeah. And as far as I understand, I don't think they're married. They're domestic partners. Just to clarify. Yeah. All right. So in a moment, we're going to talk about what the consequences could be after, you know, from this document. But first a quick word from the sponsors who make this show possible. Toku makes managing global token compensation and incentive awards simple. Are you designing your token compensation plan and grant templates with multiple law firms? Are you managing cliffs, vesting and taxable events in a spreadsheet? Are you distributing tokens to your team manually? With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Easy to use token grant award templates, vesting tracking via online dashboard, tax withholding integration with payroll, automated distributions, great employee experience. Make it simple with Toku. Learn more at toku .com slash Unchained.
Fresh update on "about 25" discussed on Thinking Crypto News & Interviews
"And so, this became very interesting for them because they could now mine Bitcoin, they could operate their own pool, and they could be really self-sovereign over their own assets. So I think we're going to see a lot of other sovereigns looking to do the same thing, which is mine their own Bitcoin, operate their own pool, and essentially control their own keys, so to say. So we're super excited about the opportunities to partner with other sovereigns, not just in the region, but outside of the region who have similar desires. That is fascinating. I did not realize that was something that was going on. Wow. And it made me think about, as you mentioned, the global macro factors and some folks moving away from using the dollar as a reserve currency and settlement of certain assets and commodities. And this seems like a trend, like you were saying, that could continue Bitcoin being that asset that no one controls and they can mine their own Bitcoin and have their own pool. That is very fascinating. And do you see potentially other countries and maybe central banks starting to do things like that? Yeah, I don't know about central banks quite yet. I think over time, definitely any asset allocator is going to look at Bitcoin as one of those things where when you look on a risk adjusted basis, whether it's 10 years, 9 years, 8 years, 7 years, et cetera, Bitcoin outperforms a lot of other alternatives. So if you want to have a portfolio model with diversification, an allocation of 1% or 2% to Bitcoin makes sense. I mean, what is the allocation most central banks have to gold, for example? And think about gold isn't transportable, it isn't fungible, doesn't have any of the benefits that a digital currency like Bitcoin does. Plus the fact that Bitcoin is fully decentralized, no government controls it, you don't have to worry about issues. For these BRICS countries who are trying to get off of the dollar as a reserve currency and a trade currency, the problem is, does India want to hold Chinese yuan? Or maybe, I don't know. Does the UAE want to hold Indian rupees? I don't know. Same thing with Russian rubles. So Bitcoin provides kind of this neutral territory. It's just that because there is a very limited supply, meaning it's capped at 21 million, Bitcoin, and there's very little liquidity available in the marketplace, the scale of the assets that sovereigns control kind of way over shadows, Bitcoin. At $500-600 billion of total market cap for Bitcoin, if you include all the Bitcoin that have been produced to date, a sovereign who wants to go park $50 billion because they happen to have a $5 trillion set of assets in their overall portfolio, that would have huge impact on the price of Bitcoin. And so I think what you're seeing today is institutional investors whether it's Fidelity, whether it's BlackRock or Franklin Templeton today just announced that they were going to file for an ETF for Bitcoin. When these traditional institutional investors decide that they need to be able to provide their investors with exposure to Bitcoin through ETFs and realize that if you're buying an ETF or you're buying spot Bitcoin, there's no difference to your exposure to Bitcoin. It's spot Bitcoin at the end of the day. The difference though is that when you buy an ETF, you're not worrying about custody, you're not worrying about what the security is, et cetera. There is a unique little difference though. When you buy spot Bitcoin, you decide the price at which you're buying. When you buy an ETF, it's the price that Bitcoin closed that day, which as Bitcoin trades 24 seven, each ETF is going to have their kind of notional, what's the price of Bitcoin at this time on this exchange somewhere, that'll be their model. But you may not get the benefit of any intraday volatility. Think about it this way, if you're a retail investor and you want to put $100 a month into Bitcoin, it doesn't really matter. But if you're going to buy a million dollars worth of Bitcoin, yeah, Bitcoin can move three, 4% in a day. So if you can buy on a dip and I mean, timing is obviously impossible to be perfect at, but sophisticated traders could potentially set price targets. And so, yeah, I think what the ETFs do is they broaden the market appetite for Bitcoin. They open it up to more people. You can now put Bitcoin into your 401k or IRA. So retirement accounts are open to it. There are trillions of dollars in retirement accounts today, a 1% of the allocation to Bitcoin from retirement accounts would have a huge impact. So obviously optimistic about the impact of ETFs. I think the impact of the FASB accounting change, which is something most retail investors have no concept for, has a much bigger impact because this affects institutional investors and corporations. FASB is essentially the body that controls how accountants account for things. They set the rules or the standards, and they have now just approved unanimously that Bitcoin will no longer be treated as an intangible asset, meaning you can only impair it, but it will be marked to market just like equities or gold. So the advantage is as an institutional investor and as a fund, you can now hold Bitcoin and it's transparent where its value is. So every quarter, when you report your numbers, you'll either adjust the dollar value of your holdings to whatever the price of Bitcoin is at the time, as opposed to an impairment. And for corporations, this is huge because if you think about Marathon, we had to do a huge impairment over the course of 2022 as the price of Bitcoin kept dropping. And we can never mark that up. But now with these new rule changes, when they take effect, which I believe will be for next year, though there may be some early adopters that get a chance to do it before then, essentially every time we report our financial statements, we'll either mark up our Bitcoin or mark it down in fiat dollar terms, depending on wherever it happens to be at the end of the period we're reporting. So I think that is going to open up the flood gates to corporations and institutions buying spot Bitcoin, which I think is going to be great. Yeah, for sure. I know you mentioned BlackRock and last year was tough for the market. You had our bear market cycle, macroeconomic, obviously one could argue you're in a recession and things are not great right now, but all of a sudden BlackRock said, we're going to file for a Bitcoin spot ETF. And then that line grew day after day and week after week. Do you believe we've hit a tipping point of institutional adoption of Bitcoin where in the past it was taboo, in the past they were saying negative things about it. I mean, even Larry Fink himself back in 2017, and now they're all trying to grab this asset in different ways and creating different products. What are your thoughts on that? And do you see that trend continuing? So it's a little bit like the first horse settled the gate is going to get the biggest benefit. Obviously if an unknown manager were to launch an ETF before BlackRock, I don't think they would necessarily beat BlackRock, but between BlackRock Fidelity, Franklin Templeton, VanEck, all of these guys, all very well known, you're going to see billions of dollars go into these funds overnight because you may very well see people sell spot Bitcoin that they hold and instead invest in these ETFs because it's just easier. You can do it in your brokerage account now. You don't have to have a separate Coinbase account. I think the biggest impact is going to be to people like Coinbase and Gemini, the retail traders. If you think about the number of people who hold less than one Bitcoin in their wallets and on exchanges, those are people who will likely prefer an ETF because the cost to trade is tiny. It's something like 20 basis points, right? Whereas trading on an exchange, you're going to pay fees going in and coming out. So I think that'll have an implication for the retail side of those companies. And that's why I think you're seeing Coinbase now come up with new businesses and do new and exciting things, but go back two middle end of 21, we were all super optimistic about institutional adoption than 22 hit. So I'm cautiously optimistic. I think that between the decisions that the judicial branch has kind of handed down recently, clearly the overbearing, overreaching regulatory regimes that have been kind of impacting the space are being checked. And I think that's an improvement, but you mentioned it, the macro economic environment is I think what drives Bitcoin price. And this is something I spoke on a panel yesterday at the HC Wainwright conference. And I was the sole contrarian in the room when a lot of people say, no, Bitcoin is going to follow the same historical pattern it has in every cycle. And that's true, but it's not a cycle that necessarily correlates to, or has causation in the having. If you look at global liquidity, global liquidity cycles have followed Bitcoin's trajectory very closely. And I think it's going to happen again the same way, but global liquidity right now, we're entering a global liquidity crisis. M2 money supply is declining and the Fed is tightening, they're doing QT, they're sucking money out of the system. High interest rates are sucking money away from things like Bitcoin. So until that changes, and will that be next year? Who knows? Hopefully, let's see. But until that changes, I think Bitcoin is not going to have this major bull run that everybody thinks is timed to the having. So I just think it's important for people to really understand that the causation of Bitcoin's price movements are supply and demand. And with the having, there'll be less supply. But at the end of the day, 900 Bitcoin a day or 450 Bitcoin a day, is that really changing the demand dynamics now? So I don't think the having has a supply impact so much, but I do think global liquidity does. I do think that until the US dollar starts dropping until the interest rates start dropping in this country, and until the Fed stops QT, assets such as Bitcoin are going to have a few people chasing them. And so at the end of the day, you can have all the ETFs in the world, but if people don't want to put money into them to buy Bitcoin, because they want Bitcoin, you won't see a big price rise. So long winded answer, but I think it's important for people to understand that. Yeah, absolutely. I appreciate that context and the details. To your point, if someone is worried about inflation and paying their bills and so forth, they're not going to be thinking about investing, well, I'm going to put some money into a Bitcoin ETF when they have this fear. And the Fed is going to keep raising rates and the price of bread or energy or gas, whatever is going up, it's the last thing they're thinking of. But maybe, like you said, hopefully early 2024 or so, the Fed pauses. At some point, they're going to start QE again. And like you said, the liquidity is going to come back. Yeah. So we'll be back in that bull cycle if you want to call it that. It'll be risk on, risk off. It's kind of how you have to look at it. And to your point, regional banks, commercial real estate, there's a liquidity crisis getting ready to happen there. The FDIC and the bank regulators are going to have to do something there. Likely, they'll have to stop QT because they've been sucking all of the money through the repo market into the bond market. And so they're going to have to shut that down. So that will cause liquidity to come back then. So fingers crossed. We see some positive momentum next year. For sure. Now, with the halving coming up and with the context of these Bitcoin spot ETF applications in play, obviously BlackRock being the biggest, some are anticipating a potential approval in Q4. Obviously, we don't know if that's going to happen. But how are you as a miner preparing for these catalysts, the halving and with the ETF approvals? Because I'm assuming that you're going to see increased demands. Is this a twofold question? How are you planning for that? And are you getting calls for possibly buying Bitcoin that you guys are selling from some of these big players? So not going to comment on whether we're getting calls or not because we get calls all the time. But I'm not going to comment on any change in that. Sure. We don't sell direct to customers. We sell typically via OTC desks. So we're not necessarily aware of who our counter parties are when we do sell Bitcoin. At the end of the day, these large buyers typically are trying to buy at a discount actually, not at a premium. So if they can find coins other places, they will. I don't think any of these ETFs, for example, have an ESG requirement that the coins are fully OFAC compliant or other things like that. Those are things that I think we may still see the SCC plug in as requirements. And that will change the nature of how they have to source coins most probably. But we'll have to see that. So I think there's a lot undecided yet. I think the nearest deadline is about 45 days or so out. I think it's ARK application that they need to respond to. But I think generally the consensus amongst most people I speak to say that if the SCC is going to approve, they're going to approve a number of them all at the same time. If they're going to approve any, they have to approve the grayscale conversion. Now, what they may say is they may do another round of questions and comments and cycle through this. I think the kind of end point of all this is sometime at the end of Q1 next year most probably. I don't think we're going to see something this year necessarily. I think Congress, for one thing, is going to be very busy with budget and the stalemate around that and the spending. And then you've got a bunch of other hoopla going on in Congress right now. We're going to see that going on. So I don't think we're going to see any real progress on crypto legislation until next year possibly, if then. But we'll see. McHenry is up for re-election. He's rather termed out as chair of his committee. And so I know he wants to get his legislation through Congress before he terms out on that. So I think we'll have to see. But and we'll have to see what happens on the Coinbase lawsuit. That's got huge implications because if the SEC decides that, hey, let's get a win here, we'll approve some ETFs and we'll settle with Coinbase. No harm, no foul, slap on the wrist. You don't admit you did anything wrong and we all move merrily on and maybe you remove some tokens that have been listed. Then I think at that point, Chair Gensler can put his hand on his chest and say, well, see, look at all the good stuff I did and maybe walk away with a win. Otherwise, if he refuses these ETFs, there's a high degree of certainty he's going to have to roll back the spot, rather the future ETFs, which would be a huge black mark. So listen, all of these people are political animals. I have a feeling he has aspirations for higher office and he needs some wins in the column because right now the judiciary certainly hasn't been giving him the wins he wants. Oh, yeah, absolutely. Now tell us about Marathon's mining that is taking place this year. Maybe how much, how many Bitcoin you've mined and also there was reports with the Texas heat wave of ramping down a bit there. Are you ramping back up now in September? If you can give us some insight on that. Sure. You can look at our production numbers. They speak for themselves. We were down 9% in August over July, which is not a whole lot considering the fact that there was a lot of curtailment that happened. What you'll see is kind of, so, you know, August and July, you had over a thousand Bitcoin each month. We did about 2,300 Bitcoin in Q2. So you should be able to infer that we'll likely do something close to 3000 Bitcoin or more if Garden City turns on here in Q3, which will be a nice uptick. And, you know, if you think about it over the past 12 months, we've through the end of Q2 year over year, we increased our hash rate from 0.8 exahash because July of last year, we were almost mining nothing. If you think about it to having over 19 exahash operationally. So significant uptick in the amount of hash rate, you know, our percentage of the global hash rate, you know, went from 0.8% to somewhere around 3.2%. And it'll continue to grow this quarter, which is in light of kind of a doubling of the difficulty rate, you know, an eightfold increase in our market share, which is great. So, you know, quadrupling of our market share, but, you know, with a double difficulty added to it. So, you know, we're very happy with the progress we've made. It took longer than we wanted to, obviously, but, you know, ourselves in the market can be impatient at times. But we have now a prudent kind of tempo, if you would, of how we look at what we're doing. You know, we're primarily focused on owned and operated sites now, moving away from kind of the asset light model. We're looking for balance in our portfolio. So we want to have a balance of third party hosted and the balance of owned and operated. We think that over time, you'll see us favor owned and operated. And, you know, as I've said on a number of calls more recently, you know, you'll see us go about 50% of our capacity domestic, 50% internationally. You know, we're looking in Latin America, we're looking in Africa, we're looking in Asia, looking in Europe, and continuing to look in the Middle East. And you know, there's some great energy prices that we can get out there. And then at the same time, we're also doing a lot of really interesting stuff around leveraging the heat that we generate, especially in our immersion systems for things like experimenting with greenhouses and experimenting with shrimp farming, which will generate profitable streams to the business. So the goal here kind of longer term, if you would, is to really look at, you know, how can we make the cost of energy disappear? Because if it doesn't cost you anything to mine, then you're going to be the last miner standing, no matter what the global hash rate is, and no matter what the price of Bitcoin is. Yeah. Can you tell us more about the farming? So would it be like integrating these additional business operations into the existing mining setup or moving the mining? Think of it as partnering with these types of operations and then having revenue shares in their product. You know, we don't want to operate shrimp farms. That's not our core competency. And I don't want our shareholders thinking we're going to invest capex in those things, but we can sell our heat to them essentially. Right. It's just like with our technology stack, our vertical technology stack. You know, we are out there talking to the third party miners about them using our firmware on their Bitmain machines. We're out there talking to sovereigns about them using our pool for them to operate their own pools. We're out there talking to people across the computing industry about using some of our immersion technology. And you know, that creates diversification. And if you think about Marathon's objectives more recently, it's been about energizing capacity. It's been about optimizing the capacity we do have, make it more productive, lower our costs of mining. And then now we're also looking at things like diversification where we can leverage what we do in mining to make money in other ways. Yeah, that absolutely makes sense. So I'm a race to get as many Bitcoin as possible from, in a profitable way, of course, ahead of the rewards being cut. Is that a strategy or a plan that you guys have that, you know, as it gets maybe in January 2024, let's ramp up our mining. Yeah. So it's, you know, the goal is always put online in as much capacity as you can before anybody else, because we operate in a zero sum game, right? It's 900 Bitcoin a day until April of next year, and then it's 450 Bitcoin a day. So you're always focused on optimizing and maximizing your production capacity. You know, I think for people who are now spending a lot of money on Bitcoin miners that they'll plug in in Q1 of next year, if the price of Bitcoin isn't where it's profitable for them to mine post having, I think they're going to be in a lot of trouble. And I think if you look across the fleet of miners out there globally, the average energy efficiency is somewhere around 33 joules a terra hash based on the nonce analysis that has been recently done. You know, our fleet operates at an average efficiency of about 25 joules a terra hash. So we're way down there, meaning we're much more efficient. You know, there is risk at the having if the price of Bitcoin doesn't appreciate significantly that anybody who is operating anything above 30 joules a terra hash will have to stop mining. And so if you start looking, you know, what machines does that mean? It'll mean anything but S 19 J pros was probably anything older than that. You won't be able to mine with unless you have free energy or very, very low cost energy. So I think it's, you know, you're going to see at the having, again, depending on where the price of Bitcoin is caveat, what most analysts out there are predicting is assuming a 25 to 30% increase in global hash rate. So that means people shutting off machines, not turning on machines. So that's certainly an opportunity, right? For those who can still continue mining and absolutely. And cause it, I mean, I know it gets more difficult as age having. So I'm curious, what's marathon's longterm strategy. And you mentioned, you know, branching out into other business layers not deepening too much in Bitcoin mining, but like you said, utilizing as much of the process to monetize it and recoup, you know, costs and things like that. What's your longterm strategy for the next having and so forth. So again, we kind of look at ourselves a little bit the way oil companies look at themselves, right? You're pumping oil out of the ground. So you have to constantly be exploring new places to find oil. So we're exploring new places to host miners. We're constantly exploring new technologies to make our mining more efficient, lower our costs to mine, increase our energy efficiency. We're constantly looking at ways to reduce our energy costs. And then like oil companies, you can either sell oil or you can refine it into products like plastic pellets and fertilizer and things like that. So we're looking at kind of the downstream opportunities, certain margin on the exhaust of our business, if you would, no pun intended because the heat is kind of an exhaust, but also Bitcoin and building things at layer two and layer three. So we think that it's very important that we continue as an industry to remove the friction of using Bitcoin and the Bitcoin blockchain, two different topics here as much as possible, because if we can make it easy for people to hold Bitcoin, the currency, meaning the store of value and use it for whether it's transacting settlement or just holding value, the more friction we can reduce and ETFs goes a long way to reducing that friction is great. And then what can we do to reduce the friction so people can build applications on top of the Bitcoin blockchain? Because at the end of the day, we need adoption to happen. Because when adoption happens, transactions happen. When transactions happen, transaction fees will go up. We've already seen this with ordinals, what happened there. And when transaction fees goes up, the security budget for Bitcoin is insured. And the security budget is essentially how Bitcoin miners are paid. And while this halving, which is near upon us, doesn't pose huge issues for that, two halvings from now, so not 2028, but go down one further, 2032. And if you look at the price that Bitcoin has to be at in 2032 for the subsidy to keep miners operating, if there isn't a substantial increase in the transaction fees, or if miners can't generate revenues via other means, then I think you're going to see a considerable restructuring of the mining industry and it will get consolidated and it will likely become very closely tied to the energy industry. And you mentioned scalability and improving real world use and adoption. What do you think about the Bitcoin Lightning Network and are you doing anything on that front? So I think the Lightning Network is a great initial foray in a way of being able to create a transaction layer that settles on the Bitcoin layer on the L1. I think there's still way too much friction to using Lightning. And I think there is a huge amount of innovation that's going on, but even more that should be going on to reduce that friction to zero. It really should be as easy as, I've got my phone here. I have fiat in my bank account. I have Bitcoin in my bank account and I go and I tap to pay and I choose, am I going to pay using Bitcoin or am I going to pay using fiat currency? Am I going to pay using some stable coin? And then I can manage my assets on my app, shifting Bitcoin to stable coin or Bitcoin to fiat. And then when I pay that transaction layer, I really don't care how it operates. It just has to be frictionless. It's kind of, think about it. The user today thinks the Visa MasterCard network is frictionless. If you talk to the merchants, you know it's not frictionless, which is why Visa and MasterCard are looking at things like Solana now and other technologies to settle because merchants pay high fees and they get their money three to four days later. So they looked at the alternatives if they were to adopt Lightning. And again, you could make the fiat to fiat payment go over Lightning and make it totally frictionless, but people have to get money transmitter licenses. There's a whole lot of regulatory rigmarole you have to go through to get that done. But technologically, you could make it magic. And Steve Jobs was famous for saying that the closer technology is to magic, the more easily it'll be adopted. And I'm paraphrasing, so I know I'll get a bunch of people on Twitter or X that'll hammer me for that now. Final question here for you. What are you most excited for in this upcoming next bull market, I should say with Bitcoin? Let me rephrase that. With the macro being in a better position, crypto market and Bitcoin following that liquidity cycle, what are you most excited about? So I'm super excited about the innovation that's going to now we'll see about Web 3.0, though. I think it's not about virtual reality and games. It's about a much bigger thing than that. It's about people owning their data, monetizing their data and having data at the edge and not siloed in centralized application. But I remember the days of I took the first company I was CEO of public, the first public company I did an IPO on was in 2000. And it was in the middle of the Internet, 1.0 wave. And people were building the equivalent of the delivery services and grocery shopping and pet stuff. And it all crashed because it was too early. There wasn't consumer adoption. Then came 2.0 and there was consumer adoption. And we had built these great companies like Salesforce.com, all of these Facebook, Google, etc. So we have gone through blockchain and crypto 1.0. That happened. Now we're moving forward into 2.0. And what's in 2.0? Well, 2.0 is where you really start seeing real use cases that cause people to leveraging blockchain to validate data for AI systems so that they won't be biased or whether that is as oracles of truth for automated transaction systems where your car is driving down the highway and paying tolls automatically and things like that without you even thinking about it. There are all sorts of reasons to leverage blockchain technology and things we do every day. Not all of those applications need to be decentralized though. And so it's how do you pick the right applications to build, deploy them on the Bitcoin blockchain.Today with Taproot and the other BIPs that have been adopted and hopefully BIP300 and BIP301 will be accepted as well because Bitcoin needs to continue to evolve. We'll see great innovation and that's what I'm talking about. I think the option drives growth and growth is a tide that floats all boats. Yeah, absolutely. Definitely agree with you there. Fred, pleasure chatting with you. I'm excited to see the future updates around Marathon and we'll try to meet again rather than two years later. Maybe sometime next year, but thank you for joining me. Absolutely. Anytime. Good catching up with you. Thank you.
Monitor Show 07:00 09-22-2023 07:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV batteries' environmental impact, behind sand, yeah, sand, you get context, and context changes everything. Go to Bloomberg .com to get context. This is Bloomberg Radio. We still think rates are somewhat too high over the long run. As long as the politics lets the U .S. be exceptional, you can have higher yields and a stronger dollar. Turning to the U .S., we are a lot weaker than consensus with U .S. growth. Inflation expectations are fairly well behaved for consumers. What we're seeing is the lagged impact of fairly aggressive monetary tightening really starting to bite. This is Bloomberg Surveillance with Tom Keane, Jonathan Farrow and Lisa Abramowitz. This is Bloomberg Surveillance live from the city of London for our audience worldwide. Good morning. Good morning. Alongside Tom Keane and Lisa Abramowitz, I'm Jonathan Farrow, your equity market positive here by 0 .2%. It's been a rough, dicey couple of days in this market. Let's put it all together. Biggest one -day loss on the S &P 500 in about six months, yields we haven't seen for more than a decade, cycle highs on a ten -year, on a two -year. This morning in today's session in Asian trading, we went through $4 .50 briefly on a ten -year. We come back about a basis point, $4 .48. TK, putting it all together, what a ride it's been over the last few trading days. I'm going to go away from the equity market. I really take issue with the worry and the doom and gloom on equities. It's barely a pullback here with a VIX at 17 .12, I believe, as a level. You think we had a 20, a 22, a 25 VIX. We got nothing. It's been resilient equity markets with the bounce back today. In the other areas, you're right, John, in foreign exchange, I can tell you it's an interesting study. It's not one or two pairs. It's like 10 or 12 pairs you can study. Sara Velles with us from Deutsche Bank.
What Can YOU Do to Bring in Money Quickly?
"So the other thing I always like to focus on when money's tight, aside from lifelines and stuff like that, is what can I do to bring in money quick? Like what can I do to bring in money quick? So if you have inventory, you can do fire sales. Fire sales is always something positive that might bring a customer to buy that one item. I wouldn't put the whole nursery up for sale, but I would do a specific item. So let's say you have an item that you did 3000 of they haven't moved. They're getting big and you're selling them at market price right now. Drop it, drop it. 25%. Oh, Willie, you're crazy. Drop it 25%. Because what that can do is bring somebody in for that item. They see everything else by you being savvy, positive, you know, moving forward. And now you tell them, Hey, I know you came for this one item, but can I show you the other items real quick? Give me two minutes, throw them on the golf cart or put them in your truck or do whatever you got to do and show them everything else you have. Now that might open other doors for them to spend money on other things that you're not, let's say putting on sale and it comes down to advertising and marketing. I know in this industry, people don't put budgets for that. That's not a thing. If you're a grower, jump on plan. And on the plan and episode that we did, they were talking about how people were complaining that they were spending $60 a month in advertising. Guys, advertising is your lifeline. That is a major, major lifeline. So some of the things that we do here, what are the things we do here? We do email campaigns. We use the social media platforms. They are free F R E E. It just takes a second of your day to think. So right now, if you're a landscaper right now, stop right now, stop right now and go do a video. If you're a grower right now, listening to this, when you get to the nursery, go do a video, go film the guys planting, go show what you have. Put a name, put it on a story, make a post, send it out. If you're scrolling on IG and you see somebody that can benefit your life, someone that you can benefit theirs with the services you provide, send them a DM. Today, I encourage you all to do that right now. Yeah. Why are people not sending lists? Like if you see a company that's pumping and pumping product, why don't you send them what you have? That way they can purchase from you guys. It's not hard.
A highlight from MAJOR Mt. Gox Update! (Bitcoin Sell Date Delayed)
"Let's discover some crypto news today. September 21st, it's 1130 AM because we always start on time here, and we got Drew and AJ on the ones and twos. How are you two doing? I'm doing great. Nice white tee, DZ. Nice white tee. Yeah, thank you. Well, I got the V. You got the regular, right? Yeah, you got the regular. Alright, so tomorrow, I'm going to have a deeper V, okay? We were just talking before the show. I want such a deep V that Salt Bae would be embarrassed. He would turn beet red from wearing the deep V, so maybe we have to get it that cut. Drew, your wife actually makes clothing. Will she make a custom deep V for you so we can match? This is absolutely going to happen. Top D with the deep V. Yours has to be in camo. Alright, guys, we're going to talk about Jerome Powell, some of the remarks after. They didn't change the rate hikes, what they mean. Also, we got Bitcoin at Mt. Gox has been moved. What's going on with that? When are these coins going to hit the market? When is this Mt. Gox Bitcoin going to hit the market? Is it going to dump Bitcoin's prices? Is it going down 10K, 1K? So we're going to talk about that as well. We got to talk about Maxine Waters and X potentially turn into a payments platform. Linda Yaccarino, the CEO, tweeted out something last night. We're going to look at that as well. And we got some XRP news. It's going to be a great episode, so please hit that like button, everybody. Are you all feeling good? Are we feeling red? You know, the market's down, but I still feel pretty good. You feeling good? I'm feeling good. Alright. Let's go to blue. Alright, alright. We're also going to have charts with Kelly at the end, too, so it's towards the beginning. Alright, well, let's talk about Fed Chairman Jerome Powell. He spoke at a critical press conference after the interest rates decision. Here are the details. We're just going to break down some of the key takeaways. As expected, they did not increase the interest rate, kept it constant between 5 .25 and 5 .5. And here are the important excerpts from Powell's statement, everybody. We cannot have strong employment market without price stability, so we got to get the price stability in line. Consumer spending is quite strong still. Rebalancing in the labor market is expected to continue. We keep scrolling here. There's a long road ahead for reducing inflation to 2%. And the fact that we decided to keep the policy rate constant does not mean that we reach the policy stance we wanted or not, so they're still leaving themselves open for an interest rate hike. A lot of people think there is going to be an interest rate hike, not the next one, maybe the one after that, maybe in the beginning of the year. And last but not least, we're pretty close to where we need to be. I wouldn't attach greater importance to an interest rate increase. So they're trying to minimize any market impact. I wouldn't attach greater importance to an interest rate increase. I wouldn't care that much if we increase rates. Does that signal that they are going to increase maybe one or two pauses from now? I think that's signaling a strong maybe with a capital M. Yeah, I think a big takeaway from this is where it says the full effects of the Fed's tightening have yet to be felt. And that is definitely the sentiment here. Like this isn't the first time we paused on the interest hikes and the markets have fallen. You know, the past two days on the live stream, everything's going up. Everyone's saying, oh, the price is going up. I'm sitting here saying, I think this is a bull trap. I think the price is coming down because I was looking at the stock market charts, looking at the DXY charts, DXY still going up because of the previous interest hikes coming into play, stock market coming down. But crypto is pumping. I'm thinking to myself, oh, this isn't this isn't going to hold up at all. We're going to come back down the reality. And that has started to happen today. So there you go. Right. All right. Well, let's talk about Japan's economy as well. Japan's economy on the brink as the end stumbles to 148 year low bond yields. So that's a decade or almost 15 decades right there. As Japan contends with depreciating in and rising 10 year bonds, its economy stands at a unique crossroads. The yen's fall to a nearly 150 year to date low against the U .S. dollar brings with it a mixed bag of economic implications. I'm surprised they had the yen that long, you know, throughout all the world wars and everything. Yeah, true. Yeah, yeah. I mean, that's I mean, but still 150 year low, 150. The Bank of Japan now faces the intricate task of maintaining currency stability and keeping yields low amidst a high public debt environment. Complicating the test further is the yen dollar carry trade, which could intensify the pressure on the yen as the interest rate difference between Japan and the U .S. widens. So we're going to be keeping an eye out on that. We did lose the Internet, but it looks like we got it back. All right, Russia. Let's talk about Russia here. Let's rush into this next area. Russian Central Bank replenishes gold reserves to 2023 highs amid economic sanctions, according to a report by Kitco. That's where I use all my silver pricing data. Data from the IMF's international financial statistics reveals that Russia's central bank increased its gold reserves in August, apparently returned to the initial levels at the start of the year. Twenty three hundred tons. It was later confirmed by the World Gold Council. That just sounds like a shadowy group right there. The World Gold Council sounds like a bunch of bond villains. Kitco also reports that Russia is bolstering its reserves to mitigate the impact of Western economic sanctions, particularly those related to its invasion of Ukraine in February. Often we see Ray Dalio made this big, bold prediction as we see an empire on the decline. Debt is relative. And so, yeah, America's debt's terrible, but Japan's is worse. China's is worse. You know, everyone else is worse. So a lot of people use that data point, say America's debt can just get as bad as it wants to be, as long as it's not that bad relative to the rest of the globe. We're in no worry whatsoever. The other side of that coin would be, well, people will eventually stop buying debt and what are they going to start buying? They're going to buy gold, maybe some digital gold as well. So I'm expecting gold to go up. But silver silver price still lags gold. Have you ever done a deep dive on gold versus silver? I wonder if people even want that. Just would you want gold, silver data or you just want only crypto? I remember like a year ago, we were talking about doing a video that was I think we did a video that was like Bitcoin compared to gold and then Bitcoin compared to silver and then silver compared to gold. And it was it wasn't the most interesting video, in my opinion.
Fresh update on "about 25" discussed on Bloomberg Daybreak Asia
"Yes I think good morning I think from from our perspective in our global fund we definitely are quite constructive more so than what we have huge exposure here in Australia across our Australian funds but generally speaking yes we think it is company specific but if we look at something like ConocoPhillips for example in the US we think there's a lot structural of growth still to happen in the LNG space but you have to be very I think vigilant in what's happening with prices on the ground and be very sure that you can to extrapolate some of the the prices that we've seen of late so it all boils down to do your bottom -up research and ensure that you're not overly dependent on just one part of the market so for example it's good to have a company Conoco that gives you exposure to the oil market as well as the LNG market. One of the big question marks is over over the demand issue and I know that with interest rates at elevated levels there is some concern about a much weaker economy and then with that demand destruction for energy. How you do see the interest rate environment currently feeding into economic growth going forward? I think it's been quite a balancing act clearly for the central banks to manage what's been happening on the growth front which is stronger than anybody expected and then on the other hand try and really curb inflation. I think from our point of view we think that we definitely are clearly closer to the end of that sort of hiking cycle. Growth has been stronger than previously expected so we don't necessarily expect a massive drop off in demand. I think the outlook on growth in general is probably yes it remains a tough environment and yes there are questions still around a softer landing but I think all the indicators are there that most of the economies globally are actually quite strong and then of course on the other side of the coin for oil it's really been more about supply than demand and all indications are there that OPEC will really be quite tight for some and manage that price. So we are not overly concerned around the demand supply dynamics that you will see a massive drop off in the oil price in the interim. We think it is pretty steady at the moment but we also don't want to extrapolate you know massively higher prices from here. I think companies can come up with solid earnings on the back of what we currently see then we feel more confident. But it is always a very cyclical environment so these are not companies that you hold for a long time. Shorter cycle top companies. Several economies have been struggling and I'm thinking of China one and the European economy as well. When you look at the connection between or let's talk a little bit about the trade relationship between China and Australia are you optimistic that things will remain in a way that that supports much more in the way of economic activity from the Australian side? Yes I think China has in general been very disappointing for everyone. I think even for themselves potentially just underestimating you know how long it will take to focus on a consumer demand lead recovery rather than an infrastructure as we've gotten used in the past. From our perspective we think it is really about iron ore for Australia that's really the critical thing and even though we have seen you know activity dropping dramatically in China we have of late started to see a bit of a bottoming out so we are really actively managing our exposure to the underlying sort of commodities that's very dependent on a China growth story but we also are quite diligent in not being overexposed to companies that's very dependent on that China demand continuing to play out so yes I think for the foreseeable future you need to ensure that you can get sort of more demand from other countries such as India Japan and all of these sort of countries starting to step in with higher growth whilst China is still I think battling it out and in our mind we think China can be in a lower growth environment for much longer than what people are hoping for. Elfrieda I'm so glad you mentioned Japan we have a BOJ decision later today it's been a pretty amazing year for the Japanese equity market with Nikkei up about 25 % so far this year where in Japan are you seeing opportunities and maybe as a part of that how are you seeing positioning in the market if you can accept the fact that maybe the BOJ is on the verge of tweaking its negative interest rate policy. Yes I think for as we are core investors so we look across all sectors and across all regions we currently don't have a huge amount of exposure but we continue to do a lot of work particularly in you know some of the the banks that's that's actually look quite interesting given the the interest rate environment but I think look if you at what's going to happen there and it's clearly if you look at the yen it's a clear indication it takes time and it's quite challenging for central banks to unwind policies that's been in place for a very long time so we don't necessarily expect them to have to come out with a dramatic change today probably more on a on a hold but the longer term stories is really around do they need to step in and align themselves closer to what's happening with with the rest of the world so that sort of a hawkish pause is probably what's expected from them today and we will continue to see how that plays out but i think if you look at from a valuation perspective japan is actually still one of those markets that despite the rally that you've seen this year multiples are actually still below that 20 average -year so there are definitely selectively some some good opportunities still there alfreda i'm so glad you could make the chat time to chat with us alfreda yonker from alfinity investments joining here on dba this this is bloomberg are you a next -gen it when you get your news from our you don't just get the story you get the story behind the story how your eevee's battery may not as be green as it seems why a decrease in global birth rates could send countries scrambling to increase region you get context context changes how you see things how you change things context changes everything go to bloomberg dot com to get context together we have the opportunity to build a more more sustainable and inclusive future at the bloomberg new
A highlight from Interest Rate Hikes FINISHED?! (Crypto War NOT Over)
"Welcome to Discover Crypto! It is September 20th. It's 11 .30am. How are we all doing? We got Drew and AJ on the ones and twos today, folks. We're going to talk about the Fed. We're going to talk about what are they going to be saying with the interest rate hikes. And also we're going to be talking about Bitcoin and other cryptos. AJ, how are you doing today? I'm doing great, man. Another day in the life. Let's get it. Drew, how are you doing? Oh, just great. You know, can't complain. Well, you can. You can. You complain when you get home. You'd like, you know, just really vent to your two -year -old. Yeah, that's where I do it. Deezy, did you see the tweet that went out yesterday about the show I'm doing with from George from Cryptos R Us? What? Yeah, yeah. Yeah, he's with Blockchain Boy and Neutron. Joshua Jay. Yeah, yeah, yeah. Yeah. So we're all like, it's for crew, like, plus, you know, and basically we're all doing something different. I believe, like, Josh is doing like a news kind of show and Blockchain Boys. I'm not really sure what Blockchain Boys doing, but I know the videos are going to start coming out here pretty soon. We're still like brainstorming my concept, but I have a really good, like, rough idea of what I'm doing. But it's going to be really interesting to see how, like, where this goes. And I'm just fun to excited to do something different, you know? And I'm excited. We got Frankie Candles doing the charts today. I see Frankie getting ready in his neon square. He's in his, like, little neon area. I don't know if, oh, he can hear me. He's showing some recognition and anticipation of what Deezy is going to say next. Yeah, we saw the Donald Trump Jr. tweets. It looks like he got hacked. Also, Rob, you're popping it. Hey, we're going to see you back. Can't wait till you come back. All right, let's just get right into crypto. Marc Kepson's Drew is done. Am I too tall? Am I too tall? Too tall for the camera? Look, I got to stand. I got to do these shows a lot, you know? I take the shoes off. So I shrink, you know? They come in. I'm like 6 '11", and I take the shoes off. Then I drop back down to 6 '3". I got the Tom Cruise lifts. All right, Bitcoin is falling a little bit, folks. We were in the green this morning when I first woke up. Now we are down 0 .6%, and Ethereum is down 1 .3%. But XRP looks pretty good. XRP is up. It is up 0 .8 % on the day so far. Meanwhile, Cardano, I woke up this morning. It was up, but now it's down. It is down 0 .7%. Dogecoin down 1 .3%. TonCoin finally cooling off a little bit for the week here. It is down 1 .2%. Litecoin has taken a little bit of a beating, folks. Litecoin is down 5%. We talked about Litecoin a little bit yesterday on ATB. I highly recommend you check that out after this stream. All right, let's look at the top gainers. Then we're going to look at the top losers. You know, I have a streak of keeping my coins in the losers, but not today, folks. I'm feeling good. In fact, maybe I'll have a coin in the top 10. Who knows? All right, here we have Caspa leading the way. Caspa is just on fire, folks. The people who bought Caspa at $0 .01, $0 .02, looking good. Just put in a higher high too. You got past that last one, yep. All right, we are now above a nickel, and it looks like maybe price discovery mode for a Caspa. XDC is up 4 .3%. Maker is up. Radix is up. Aave is up. I have a coin in the ties. A little Solana. I think maybe I have some Arbitrum. Maybe. I'm not even sure I have to check. Then we have, you know, XRP is up 0 .8%. We got gold. Gold's moving to the upside. The graph moving to the upside, even though Bitcoin and ETH are down. Okay, so it's not all blood in the streets, but hopefully, it's not going to be blood in Deasy's wallet, guys. And again, I promise you, I do not check this ahead of time. I kind of like being surprised. I like discovering it with you. So let's discover cryptos, Deasy's coins in here. I'm looking good today. All right, I don't know how long the streak has been continuing. I don't know when's the last. I think I last held Litecoin in 2021. Never had Thor, Phrax, eCash, or I know Frankie likes to trade Adam. I like to trade Eve. So maybe we'll talk to him about the Adam is falling 4 % here. Litecoin down 5%. Thor chained down 5%. Any of these coins, you know, peak it. Well, if you go at it, I do have two in the top 10. I got two in the top 10. Just, you know, just to make it feel good. But any of these screaming at you here? Yeah, Thor, Litecoin, Phrax. Not surprised really to see. I mean, everything kind of came up yesterday. I'm still kind of sticking to the theory that the pump we're seeing could possibly be a bull trap. I think, you know, when we get into the FOMC news, the pauses that is likely coming is going to be bullish for the sentiment. I'm just still like kind of macro worried based off of the stock market sharks. Actually, the Algorand, you know, down 2 .8%. That one's kind of obviously yelling at me a little bit. I have a theory coming up, but I'm not going to say it right now. But I'm making a video about it, about Algorand. So stay tuned for that. OK, so you're going to create more? I'm going to create more. I create more crypto content every day and some of it's about Algorand. But I like how it's a period. Create more. No exclamation point. Just create. It's more like create more. Oh, OK. Great. More. Great. Great. Yeah. All right. Well, we're going to create some stories here about the feds. What are they doing? I don't know if we've ever had an article from this news organization. ABC. Shout out to Mickey Mouse and the Disney crew here. Fed to decide on a rate hike. Testing optimism about a soft landing as inflation rises again. Upon announcing the Fed Reserve's latest rate hike decision in July, Jerome Powell spoke out a lectern in Washington, DC for a half hour before he dropped a bombshell. The Central Bank staff has abandoned its forecast of a recession. Staff at the Fed, in other words, now expect the Central Bank to achieve a soft landing, an outcome in which the US brings down inflation while avoiding a downturn. Inflation has ticked up for two consecutive months, reversing some of the progress made in the effort to bring price increases down to normal levels. Meanwhile, oil prices have soared, threatening to push inflation even higher. Well, they got like moving ads. Whoa, whoa, what's going on here? Calm down, ABC. Economists surveyed by Bloomberg expect the Fed to leave its benchmark interest rate unchanged, affording policymakers time to weigh their next move as a rapid series of previous rate hikes take full effect. I was looking at Caleb Franzen's tweets. We're at 99 % on the prediction market unchanged today, right? Have you been looking at the, when is the next one? Is it November? I can pull the calendar. I'm pretty sure it's the end of October. I think it's like maybe on Halloween. Let me double check. Oh, on Halloween is going to be spooky. Okay, Drew, are you going to give out candy this Halloween? Absolutely. You know, but actually I'll be doing candied apples. Okay, I'm going to be giving out pamphlets on inflation to children. Yeah, you know, you could have got Reese's pieces, but blame Jerome Powell. You can take advantage of the time and the season to teach your children about tax. Tax them. Like attacking kids for their pillowcases of candy? Taxing them heavily. Yeah, take 33 % of every Snickers bar they get. That's right. Yeah, that's just the way it is. Why wait? Welcome to America, you know? And yeah, the next FOMC is October 31st, November 1st, so. Okay, okay. October 31st. All right, all right. Halloween, what's Jerome Powell going to dress up as? Alex from A Clockwork Orange. Pat, do you want us to dress up on the channel? I might be willing to dress up in a costume. I might be willing. You know, every - I could break out the green spandex, go old school. You know, every Halloween, AJ disappears and a Mr. Meeseeks just shows up. Okay, I heard existence is pain though. Existence is pain. We're not fumbling around for meaning here, Deezy. All right. Well, I'm fumbling around for this rate of inflation. It eases slightly 6 .7 % despite the oil prices surging. You know, like we said, I think the oil is going to be a leading indicator, so inflation will trickle down from the oil prices. If you want to think about it, it's going to cost more money to get those bananas to drive from point A to point B because they're going to have to spend more in the gas tank. This is going to be - It's just give it a while, let it roll out to the rest of the economy. Namely, food. Oil prices really, really like to impact food prices a couple months down the line. Well, we're looking at the ONS as the Office for National Statistics, and they said the consumer price index measure slowed in the 12 months to August from the 6 .8 figure reported the previous month thanks to food rising at a weaker pace during the month compared to August 22. During the X minute, I have a tweet about Canadian food prices, and I just kind of look at where they've gone over the past 20 years. It is shocking. It is shocking. I used Bard. I was like, this doesn't feel right for the price. I went to a Canadian grocery store, and I went low. I went low. There's expensive eggs and cheap eggs. I typed in the cheap egg price. It was still very scary. All right, well, we have predictions. Jerome Powell's got his ideas. You notice I was thinking about this BlackRock. What is BlackRock thinking about all this? BlackRock and others predict the Fed's next move. What does it mean for Bitcoin though? According to Marilyn Watson, is a BlackRock's head of global fundamental income strategy. The central bank's federal funds target rate will remain roughly the same until the end of the year going through its September, November, and December meetings. For the record, I think the economic data has consistently surprised to the upside, she said. That includes GDP, the unemployment rate, and the labor market. Beware, beware of recession. The analyst has previously argued that Bitcoin's price is macroeconomic determined by conditions, including its four -year cycles, which I am still a firm believer in for this cycle. Might be less of an effect of the previous one, but I'm still a believer in the four -year cycle, going to push Bitcoin to the new high. I do think we'll set in a new all -time high. I don't think we're going to hit a quarter million dollars in two years, but I think we're going to flirt with $100K, which they do not believe are related to the Bitcoin halving. So they're saying the four -year cycle is not related. I don't know what they're saying here. Risk assets go lower in recessions. So I'd expect Bitcoin would not perform well in that environment. It has not seen a real recession in its existence. It was birthed out of a recession, but yeah, hasn't really gone through one from the beginning stages to the end there. Yeah, there's never been a Bitcoin bull run during a phase of quantitative tightening. We've always been quantitatively easing the money supply anytime Bitcoin goes up into the right. And that obviously is what it takes. I think they're kind of leaning into if we're in a recession, and that lines up with the four -year cycle. But just so far, we're three for three with the having idea playing out. And the trend hasn't broken yet, so that's why I always say sticking to November 25 as a benchmark, but that's just a benchmark. It could be behind that. It could be in front of that. We don't have a crystal ball, but we can go off the pattern that we've seen before. All right. Well, speaking of quantitative tightening, we also have calfskin tightening, the tightest calfskin in the entire world. I don't care if you have a baby cow jacket for an extra small on an 800 -pound man, there is no tighter calfskin than the man I'm looking at right now. That is Frankie Candles. Frankie Candles, welcome back. How's it doing? Does it feel good? It feels good. The calfskin is tight, and so is Bitcoin's price action. But yeah, I don't want to waste time here. Let's go ahead and jump right into the charts here. Now, here we are. Now, obviously, I talk about this all the time. I don't typically trade on newsdays like this. It is usually a complete washing machine. Usually the shorts get wrecked, then the longs get wrecked, or the longs get wrecked, and then the shorts get wrecked. So I don't typically trade. Now, I am in a few trades right now. I am in this Bitcoin long right now. I have profits locked in on this trade and my stop loss is at my entry. So kind of how I am playing this today is I'm going to be holding my long. I am long from about $25 ,000 to $50 ,000 just below this range. And again, I have taken profits on that stop loss at break even. And then I am also in a short position from somewhere up here. I am slightly in profit on the short position. So I am long up and now I am in this small short position that is in slight profit. However, this is kind of how I'm playing this today, DZ. Because basically, like I said, I never recommend people trade on these newsdays just because of the complete unpredictable volatility that you're likely to see. Now, the last FOMC meeting, I believe, was on the 25th, 26th of July. I believe someone could correct me if I'm wrong on that. But we actually have seen a few FOMC meetings where we didn't really have too much happen. And I've been telling people that we are likely in that kind of boring accumulation phase of the bear market. A lot of times, if you go back to at least the 2017 or 2018, 2019 bear market, we had that bear market rally. And once we topped off at that point, we kind of just bled out. And for the most part, if you kind of just ignore this panic wick from March of 2020, which was obviously a Black Swan event, we kind of just wiggled sideways. We got that big bear market rally, we topped off, bled out a little bit, and then we just kind of went sideways again with the exception of that panic wick. And I do think we are in somewhat of a similar situation here where the rest of this bear market may not be the most exciting thing ever. But for today, basically how I'm handling this, DZ, is I'm going to be kind of...
Fresh update on "about 25" discussed on Dennis Prager Podcasts
"Sex unattached from consequences, sex unattached from marriage, promiscuity legitimized, and more women working in the place of men. Men must be like, thank God for the sexual revolution. What was such a failure about this movement? Well, again, it overwhelmingly was a beneficial thing to men, but not to women, which social justice warriors should care about. Though, of course, it's heresy to even suggest the sexual revolution might have some downsides. Some of those downsides include that the marriage rates have gone down over the past few decades hugely. In 1948, 16.2 per 1,000 Americans were getting married. In 2000, it was eight per 1,000, so half of what it was in 1948. And then in 2022, it was six per 1,000. Marriage is an institution that, contrary to the left-wing belief, actually benefits women. Why? Because it makes a man, both legally and in the case of religious marriages, spiritually obligated to and committed to a woman. And when a woman takes a man's last name, which is deemed as so awful and bigoted in 2023, it is actually the opposite of that because it indicates a sort of exchange. The woman is saying, I will take your name as our family name, and in return of my honoring you in this way, you will honor me by protecting me, by protecting our children, by being the financial and authoritative head of the household. So women have been the casualties primarily in this war on marriage. I could go on and on. The birth rate has gone down. In 1950, it was about 25 per 1,000 people were giving birth, and now it's about 12 per 1,000. There's a proliferation of pornography. If you look at pornhub.com, that is just one porn site among many, it has 33.5 billion visits annually. The population of the world is just 7 billion, and Pornhub has become in the top five most visited websites ever in the past five years. STDs have proliferated. Since the 80s, eight new sexually transmitted diseases have been recognized and developed in the United States as a result of this constant, rampant, premarital sex. Out of wedlock, birth rates have gone up in the same time. Fatherlessness has also gone up. Hookup culture on college campuses is rampant, where fewer people are dating, more people are just having these one-off casual sexual encounters. So yes, in some ways, primarily by bringing women into the workforce, it has benefited women. But with all these other developments, can we really say that women have stood to gain as a result of this cultural and technological transformation? I'm not so sure, but let's hear from you.
A highlight from Advanced Nutrition Strategies for Inflammation and Insulin Resistance
"Hello, and welcome to the Dr. Jockers Functional Nutrition Podcast, the show designed to give you science -based solutions to improve your health and life. I'm Dr. David Jockers, doctor of natural medicine and creator of DrJockers .com, and I'm the host of this podcast. I'm here to tell you that your body was created to heal itself, and on this show, we focus on strategies you can apply today to heal and function at your best. Thanks for spending time with me, and let's go into the show. If you're struggling with stiff or aching joints, and you're tired of letting the cis -comfort steal the joy and freedom from your life, then I have a natural solution you're going to love. It's called Joint Support by Pure Health Research, and this stuff is amazing. It contains seven of Mother Nature's best superfoods for supporting comfortable, healthy, and flexible joints. It even promotes healthy cartilage growth, too. All it takes is one small capsule of joint support every day to start feeling the positive effects on your health. As a listener of our show, you can try Joint Support risk -free today and get a free 30 -day supply of Omega -3 when you take advantage of this special offer. It can promote healthy joint lubrication, making it easier to move in comfort. You're also getting two free e -books, so you can learn more about joint health. Just head over to getjointhelp .com forward slash jockers. That's G -E -T -J -O -I -N -T -H -E -L -P dot com forward slash J -O -C -K -E -R -S getjointhelp .com forward slash jockers to order Joint Support and claim your free bottle of Omega -3 while supplies last. Again, that's getjointhelp .com forward slash jockers. Welcome back to the podcast. In this episode, I'm being interviewed by Dr. Beverly Yates for her upcoming Reverse Type 2 Diabetes Summit. We talk all about the best advanced nutrition strategies to reduce inflammation and improve insulin sensitivity. There's a lot of things you can do if you are looking to lose weight, if you're looking to improve your blood sugar sensitivity. We know insulin resistance is at the root of all chronic inflammatory conditions, but there's a lot we can do from a nutrition perspective. We go through that in this interview. I talk a lot about intermittent fasting and how that helps improve mitochondrial function, helps improve blood sugar stability and turn on fat burning. We talk about how to improve your stomach acid, bile flow, pancreatic enzymes, so you can reduce the amount of endotoxins that are released from your gut and into your bloodstream that drive up inflammatory activity in your body. So this is a really powerful presentation showing you exactly what you need to do to stabilize your blood sugar, to burn fat for fuel and reduce inflammation. If you know anybody that's dealing with type 2 diabetes, prediabetes, perhaps they're overweight looking to lose weight or they're obese, please share this episode with them. And you can also check out the Reversing Type 2 Diabetes Summit that Dr. Yates is putting on. Just go to the show notes for this episode on DrJockers .com and there will be a link there where you can register for free for the Reversing Type 2 Diabetes Summit and listen to all the great interviews with top experts when it comes to blood sugar stability and type 2 diabetes. And if you have not left us a five -star review for this podcast, please do that now. When you leave us a review, it helps us reach more people and impact more lives with this message. It's really easy to do. Just go to Apple iTunes or wherever you listen to the podcast, scroll to the bottom, usually the review areas at the bottom and leave us a five -star review, leave a comment in there. That means so much to us and helps us reach more people. So thank you for doing that. Thank you for being a part of our community and let's go into the show. Hey everyone, welcome to the Reversing Type 2 Diabetes Summit. I'm your host, Dr. Beverly Yates, MD. It's my distinct privilege and honor to interview a wonderful colleague of mine, Dr. David Jockers. He's been a leader in many aspects of health and continues to help people have clarity about their health. One of the things that's so interesting as we do all the episodes here for the summit is I'm trying very consciously to give people different points of view and different aspects of what it takes for blood sugar success to be well. So with Dr. David Jockers, we're going to introduce him in just a moment here. He's a doctor of natural medicine and runs one of the most popular natural health websites online in drjockers .com and has gotten over a million views for monthly visitors and his work is really popular. It's been seen on shows like The Dr. Oz Show and Hallmark Home and Family. He's the author of the best -selling book, The Keto -Metabolic Breakthrough and also The Fasting Transformation. He's a world -renowned expert in the area of ketosis, fasting, brain health, inflammation and functional nutrition. He also hosts his popular Dr. Jockers Functional Nutrition podcast. Be sure to look up his work, check out what that he's offering. Dr. Jockers, welcome to our summit. Thanks so much, Dr. Beverly. Great to be on with you. Yeah. You know, I've really been excited for our talk because I think that there are so many ways in which people can eat and nourish themselves and some things are certainly more helpful or successful when it comes to blood sugar control and glycemic regulations than others. So with that in mind, let's dig in right away here. So please, if you would share with us your perspective here, what is inflammation and how does it develop? Yeah. Inflammation is just a natural process of healing. In fact, it's actually designed to help protect our body from some sort of chronic systemic infection and so, well, not chronic infection, but some sort of systemic acute infection from killing us quickly. And so I think we look at the history of mankind. More people have died from infections that got into our bloodstreams, bloodstreams spread throughout our body, went into major vital organs and killed us is what used to kill most of our ancestors. And so our body has created this inflammatory process to help protect against that. So the infection that gets in doesn't get into our lungs and cause pneumonia or our nervous system and cause meningitis. And so in order to do that, we created this inflammatory process to keep basically infection under control. And it's also part of the healing process. We break down damaged tissue and we try to remove that in order to build new healthy tissue. So for example, if we sprain our ankle, we're going to break down that tissue and try to rebuild new healthy tissue in that area. So inflammation itself is life saving. The issue is that it should be turned off when the appropriate area is healed. And so in our society, we have certain vectors that are turning up inflammation. For example, one is called leaky gut, right? So when somebody has leaky gut, there's damage, micro damage to the intestinal lining. And every time that person's eating food, particularly food that causes more gut irritation, they are further tearing that gut lining and they're not really allowing their body to heal properly. And therefore, they're spewing out bacteria and endotoxins into their bloodstream through that lining, through that hole. And that's driving up inflammation in the body because the body thinks that it's under attack from some sort of systemic infection or some sort of basically infectious process that could be life threatening. And so we've got to do what we can to get inflammation under control in our society. And so I think about it like a fire in a fireplace. You know, if the fire is on in the fireplace, it's great. It warms the house. You know, it creates a great environment, an ambiance. However, when we dump gasoline on the fire, right now it spreads on the walls and starts to burn our home. And obviously that's when it's a major issue. And so in our society, we have lifestyle habits that are dumping gasoline on the fire and causing us to burn up our home. And we just don't really understand it. We don't realize that's actually what we're doing to our body. And then we later, you know, after doing this for years and years and years, we get diagnosed with the chronic disease. But this is many years of chronic inflammation, damaging cells, tissues and organ systems of our body leading to, you know, that disease diagnosis. Absolutely. Absolutely. Thank you for laying that out so clearly. You know, it's so interesting in clinical work, sometimes it comes up. People are like, this just happened to me overnight, thinking that their body has attacked them or betrayed them and that their diagnosis has come on all of a sudden when in reality, nope, this was years in the making. So thank you so much for pointing that out for us. So anyone listening to this, if you have an inflammatory problem, please know. It took time for it to develop and it will take some time for it to heal. The good news is, if healing is possible, that it's likely to be a lot faster compared to the silent onset process. It's like too bad. It would be great if our body, as we get more and more inflamed, gave us a sound or a noise or maybe we turned polka dotted or something so we can know that something's going on here, you know? Yeah, for sure. And many times people do have chronic symptoms that are giving them a warning sign. And we just ignore it in our society, right? It's kind of like a check engine light goes on in our car. Typically we know, okay, I need to bring this in and get it looked at. But in our society, if we have headaches, chronic headaches, if we have chronic gut pain, if we have chronic joint pain, if we have skin rashes, acne, eczema, if we are gaining weight and we try some lifestyle strategies and we're just not losing weight, if we're gaining weight and we can go on and on, in our society, oftentimes the first thing we do is we go right to some sort of medication or we try to just ignore it. It's like we just let the check engine light stay on or we take some duct tape and just kind of stick it over it and pretend that everything's okay with the car. And that's really what we're doing. We're not actually getting to the root cause. Exactly. So that brings me to my very next question for you, which is this. What are some of the root causes of inflammation and how can this be measured quantitatively with lab testing? So when we look at root causes of chronic inflammation, one, and this is what you're really addressing in this summit, is a diet and lifestyle that is not right, right? So high blood sugar and insulin resistance, primarily driven by the food that we're consuming and lack of exercise, right? Lack of movement, food that we're consuming, obviously stress plays a role. So high stress, poor sleep hygiene and poor sleep quality. Sleep quality is super important. We've got to make sure we're sleeping really well when we are sleeping, but also proper hygiene when it comes to sleep. That plays a big role with our sleep quality. For example, shift workers, they might sleep eight or nine hours, but because they're sleeping at the wrong hours that are not right with, you know, humans, natural circadian rhythm or we're supposed to be sleeping at night, they tend to have higher levels of blood sugar and insulin resistance compared to people that are sleeping the same amount of hours and working kind of a normal shift and then sleeping overnight. So those are major factors. And then beyond that, we have things like chronic infections. So we know that when we have different infections, whether it's a candida overgrowth in our gut, small intestinal bacterial overgrowth, H. pylori infections in our stomach, parasite infections, Lyme disease, things like that, that all drives up inflammatory processes in our body. Chronic overload of toxicity. All of us are exposed to chemicals in our air, water and food. So all of us have levels of toxicity coming into our system. But if our drainage and detoxification pathways are working properly, we should be eliminating a good amount of those and keeping our toxic bucket under control. And so we all have kind of like a toxic threshold. And so if we keep things under that threshold by keeping, you know, by limiting our exposure to toxins and then by allowing our body to detox and drain effectively, then, you know, that doesn't drive inflammation. However, if we're consuming lots of toxins from the food, we eat the air, we breathe the things we're putting on our skin, the water we're drinking, and then we're not doing things to help improve our lymphatic system, our liver, our gut, our kidneys. Right. We're not we're not peeing. You know, we should be urinating. Right. We should be peeing out toxins. We should be breathing them out. So respiration, perspiration, that's sweating, urination and defecation. Right. So we should be peeing, pooping, breathing. And sweating out these toxins. If we're not doing that, then our toxic load goes up, goes over that threshold, drives inflammation in the body. So toxicity is a big factor. You know, I mentioned stress. There can also be things like post -traumatic stress disorders. Right. So where somebody's had major trauma and their body never really recovered from that trauma and they're kind of reliving that trauma. Maybe somebody that was a war veteran or perhaps they were sexually abused or something along those lines. Right. They may relive those traumas on a regular basis, driving up inflammation in the body. So all of these things need to be addressed and and considered. Somebody might be living in a mold toxic house, right, breathing in mold and mycotoxins on a daily basis. They're trying to live a healthy lifestyle, but they're constantly overloading their their system with toxins. And so we've got to be able to look at all of those factors and make sure that we're addressing those to keep inflammation under control. Now, when we're measuring inflammation on labs, there's some easy labs that we can look at. You know, you can get done on blood work. For example, one of the most common is high sensitivity C reactive protein. CRP is a protein that our body, our immune system produces in response to inflammation. And, you know, so long as you don't get a false negative, like if you work out really intensely right before you get your blood test done, your CRP will be through the roof. That's actually a healthy level of inflammation, because after we exercise, we have inflammation to help our body heal and recover. So normally you want to not work out roughly 48 hours before getting the test done, ideally at least 24 hours. So you get the right measurement and your HSCRP should ideally be under one and really as close to zero as possible. And so typically it's not flag tie unless it's up over two or three, somewhere in that range. But anything over one is a sign that there's underlying inflammation there. And that's something that we definitely want to look at and address. So that's a big factor. You know, I know in this in this summit, I'm sure you've got people talking about things like hemoglobin A1C. We know hemoglobin A1C, that's a sign of the glycation process or basically when a sugar molecule binds to a major protein, like in this case, when it binds to hemoglobin, major protein that helps bring oxygen to the cells in the body and denatures the hemoglobin. And so it causes a sticky protein process. So we should have ideally like the optimal range really is is really under under 5 .2 on the hemoglobin, 5 .2 percent under. And so typically in our society, nothing is flagged until it's up over six, up over six percent. I like to keep mine under five, right? Between four point five and five. Some are in that range to make sure that my hemoglobin, my red blood cells have great capacity to bring oxygen to the cells so I can create the cellular energy I need to really thrive. So hemoglobin A1C is a really good marker. There's another one actually that you can test, too. It's it's it's called a novel marker for systemic inflammation. It's called GlycA, right? And so it's also a marker of glycosylation and again, a sugar molecule binding to proteins. In this case, GlycA looks at proteins particularly involved in the immune system. And so when that's elevated, I like to see it between one hundred and three hundred. Some are in that range, more closer to one hundred when it's up over three hundred. We know that's a sign of systemic inflammation. In fact, there are some individuals that will have normal HSCRP, but we'll see the GlycA elevated. And so that's a really good it's a novel marker. They've just been doing a number of studies on that, really starting just in the last five years. Very interesting marker. We know, for example, statin drugs will have a cholesterol lowering medications can have a mild anti -inflammatory effect that may bring CRP down, but they don't bring GlycA down. Whereas a lot of lifestyle strategies that you're talking about on the summit will help bring both of those markers down. And so that's a that's a really important thing to be looking at. Another key marker is LDH, lactate dehydrogenase, which is part of our natural energy, you know, our glycolysis and Krebs cycle. It's kind of a Krebs cycle glycolysis intermediary enzyme. And so when that's elevated, it's a sign that there's inflammation, particularly heart tissue related as well as liver. Right. Could be related to liver. And speaking of liver, liver enzymes are another really good marker. So when we're seeing liver enzymes like ALT, AST, GGT, when these when these are elevated up over roughly up over 25, that's a sign that there's inflammation affecting the liver cells. And then based on the ratios, for example, if ALT is real high, AST is kind of in the normal range, roughly 10 to 25 in that normal range. We know that inflammation is really affecting the liver when AST is high and ALT is more in the normal range or a lot lower than AST. We start thinking about that inflammation affecting muscle tissues or affecting the heart in particular. So that's a key marker for that. When GGT is real high up over 25 again and the AST and ALT are lower than the GGT, then we start thinking about biliary tree, gallbladder, bile ducts, that region. So it kind of helps us understand more of where that inflammation may be located. So these are just some of the markers. You know, if you get a good a good look, you know, you can also look at just a lipid panel, like where you're looking at your LDL, which is considered the bad cholesterol, your triglycerides, your HDL levels. We like to see the triglyceride to HDL ratio. If there was one thing I was going to look at on a lipid panel, I think all the markers can have some importance. We can get some good clinical data from all those markers. But if there was one marker I think is most important to look at, it would be the triglyceride to HDL ratio. So how many triglycerides, which are basically free fatty acids that our body can use as an energy source that are circulating in the bloodstream versus the high density lipoproteins, which are a carrier molecule that helps bring fats, lipids, all different types of molecules back to the liver from the cells. And so when we're looking at that ratio, we ideally should be under two. So under two parts triglyceride to HDL, roughly close to one. And that kind of close, as close to one as possible, one part triglyceride, one part HDL, like to see that triglyceride level certainly under a hundred. OK, and we look at that. That is a key marker for insulin resistance and inflammation. If your triglyceride to HDL ratio is up over two, if your HDL is under 50, you know, triglycerides are up over a hundred. You know, definitely a sign of insulin resistance and inflammation taking place in the body as long as the test is done fasting. Right. We always want to make sure with the lipid panel definitely can be affected if we eat a meal right before we we get that lab done. But that's a really key marker to look at and helps us understand how well our body's responding to getting nutrients into the cells. So when triglycerides are real high, we're not good at burning fat for fuel. We've got all these extra fats out in the cell or outside in the bloodstream. And those fats can become denatured and cause more reactive oxygen species and drive up oxidative stress and inflammation in the system. So all very important markers to be looking at. A lot of these tests are not expensive, but glyca is a little bit more pricey. But most of the other ones you can easily get from your physician. Just go in, ask for the high sensitivity, high sensitivity to your reactive protein, lipid panel, liver enzymes. Right. They'll run all of those. And then one other marker that we should look at as well as vitamin D levels are 25 hydroxy vitamin D. A lot of research out showing that levels on certainly under 30 nanograms per milliliter, where you're you're the lab will actually flag you as deficient, you know, linked with all cause mortality. So if you have levels under 30, you're all cause mortality, cancer, diabetes, heart disease, osteoporosis, neurodegenerative condition. We talk about any sort of chronic disease and then dying of anything goes up. Right. So it's really easy actually to bump that up. Ideally, we do it by getting in the sun. However, most of us just not getting enough sunshine. We may not be living in an area where the sun's going to impact us in a significant way to get the vitamin D if we're up. Let's say we live in Canada, we live in Maine, we live in these northern climates. It's going to be harder to get enough vitamin D from the sun. But if we are in a you know, even if we are in that location, like in the summer months, trying to get as much sun on as much of your body as possible. Obviously, you don't want to burn. But outside of that, trying to get the sunshine is key. Sun offers a lot more benefits than just a vitamin D supplement. However, taking a vitamin D supplement as well can be really helpful. I usually recommend about a thousand international units per twenty five pounds of body weight taken with meals you do at one or two doses, depending on how much of that you need. And that will definitely get your vitamin D levels up. You want to test every three to six months or so and kind of look at where you're at. Ideally, I like to see it up over 60 nanograms per milliliter, usually not concerned about overdosing. The research shows that as long as you keep it really under about 150 nanograms per milliliter, you won't deal with any sort of, you know, toxicity, vitamin D toxicity. It's really hard to get it up over 150, although it can be done if you're taking like 50 ,000 units every single day. So if you're taking roughly five, 10, 15 ,000 units every day, you're probably going to optimize your vitamin D and do really well. And so those would be some of the key labs I would definitely recommend. All right, great, thank you for that list of people listening, friends, you know, here in the audience, please do take out your notes, get your paper and pen ready, or if you're keeping a Google doc or however you're keeping track and look at this list because it'll be helpful to you to help guide your own health and be aware. And you may find you're already working with a doctor who's doing these kind of testing. It's not time to time to up level. Hey, I just wanted to interrupt this podcast to tell you about my cell liposomal glutathione. This is an amazing product because our modern world is toxic. No matter how health conscious you try to be. The truth is that every single day you and I are being bombarded by harmful toxins and stressors, things like EMF, 5G, heavy metals, chemicals, processed foods and the like. And when left to roam free, these toxins take on the form of something called free radicals. Free radicals promote an unhealthy inflammatory response and contribute to oxidative on damage the cellular level. This is kind of like the browning of an apple. This is happening inside of our bodies at all times, and it's potentially leading to premature aging, a lower quality of life and a range of health problems. But the good news is that we can fight back with antioxidants and they are crucial in combating free radicals and keeping you on track. And one of the most powerful antioxidants known to man is glutathione. You see, glutathione fights free radicals and molecules that cause cellular damage while repairing the DNA and flushing out toxins. The only thing about glutathione is that not all supplements are created equal. You want a kind of glutathione that has optimal absorption capacity. And that is why I love the Pureality Health My Cell Liposomal Technology, which delivers the nutrients into your bloodstream. And it's proven to be 800 percent more efficient than other forms of glutathione. And even better, this is backed by a 180 day money back guarantee. And today we have a 30 percent off coupon for you. Just visit PurealityHealth .com and use the coupon DRJ to access 30 percent off today. That's Pureality Health. That's P -U -R -A -L -I -T -Y H -E -A -L -T -H dot com and use the coupon code DRJ to access 30 percent off today.
Monitor Show 07:00 09-21-2023 07:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV battery's environmental impact, behind sand, yeah, sand, you get context, and context changes everything. Go to Bloomberg .com to get context. This is Bloomberg Radio. We intend to hold policy at a restrictive level until we're confident that inflation is moving down sustainably toward our objective. We're running strong growth, we're running inflation that's above target, so it makes sense to guide towards higher for longer. There is a concern on the other side of this that they're going to need a higher neutral rate. The economy has changed since the shutdown restart, and the Federal Reserve is still struggling to come to grips with that. The Fed delivered exactly what they wanted to, provide a hawkish sap that allows them to speak more dubishly. This is Bloomberg Surveillance with Tom Kean, Jonathan Farrow, and Lisa Abramowitz. Well, there's a split decision, live from London, for our audience worldwide. Good morning, good morning. This is Bloomberg Surveillance on TV and radio. Alongside Tom Kean and Lisa Abramowitz, I'm Jonathan Farrow, and I'm not talking about the Federal Reserve. Rates unchanged at the Bank of England, Tom. The votes split, nine members of the MPC, 5 -4, in favor of maintaining interest rates exactly where they are at 5 -25. This is a surprise. It'll be interesting to see the defense makeup. You see a 5 -4 in terms of maintaining. That's the kind of tension, John, may be obscured in Washington. It's very visible feet away from our offices. That's the decision. Here's the signal they want to send this morning, Lisa. Further tightening required if inflation persists. It feels like this week's CPI print, a bit of a game changer for this BOE. I want to hear, though, from you.
A highlight from A Primer on Mortgage-Backed Securities
"Welcome to Wealthy Behavior, talking money and wealth with Heritage Financial, the podcast that digs into the topics, strategies and behaviors that help busy and successful people build and protect their personal wealth. I'm your host, Sammy Azuz, the president and CEO of Heritage Financial, a Boston based wealth management firm working with high net worth families across the country for longer than 25 years. Now let's talk about the wealthy behaviors that are key to a rich life. On this episode of the Wealthy Behavior podcast, we have a special guest, Ken Shinoda, portfolio manager at Double Line Capital, where he manages and co -manages several fixed income strategies, as well as overseeing the team investing in non -agency backed mortgage securities. I can think of a few people who would be better to speak with at a moment in time like this for the market, just given the sharp moves we've had in interest rates, which have impacted bonds and stocks and mortgage rates being higher than we've seen in a long time. And be sure to stick to the end as I digest this conversation with our chief investment officer, Bob Weiss, and share his key takeaways as well. I'm excited for this conversation, so welcome to Wealthy Behavior, Ken. Thanks for having me. Appreciate it. Absolutely. Could you provide our listeners maybe with a brief overview of Double Line and your role with the firm? Absolutely. Double Line is a Los Angeles based asset manager. We predominantly manage fixed income, but we also have some passive smart beta equity strategies that have done quite well. We have a commodity strategy, but I would say about 90 % of our assets are fixed income based with a heavy tilt towards securitized products, which are things like mortgage backed securities, asset backed securities, collateralized loan obligations. We have about 95 billion under management. And what is your role specifically with the firm? I know I mentioned the bio, but how would you explain that to listeners? Yeah, I am a portfolio manager across a variety of our products, especially those that are more focused on mortgage backed securities. I also have the structured products committee, which oversees the asset allocation process on our securitized focused strategies. How did you get started on this career path? How did you get to this point? I wanted to get into something real estate related coming out of school. I had a couple of interviews. I actually was interning at Trust Company West TCW, which where many of the Double Line employees came from and just happened to stumble onto this role. I never didn't come out of school thinking, hey, I want to trade mortgage backed securities. It wasn't really something that was pushed on the West Coast. I think East Coast schools are more investment banking trading focused. So, luck happens. Pretty big asset management community out in the West Coast with a pretty big presence, especially in Southern California with PIMCO, WAMCO, Capital Group out here. So there's actually a pretty big fixed income focus, at least in the Southern California area. Great. And we've talked a couple of times already about mortgage backed securities. How would you explain those to listeners or maybe people who've read the big short and have some misconceptions about what they are and how risky they could be? If you go back a long, long, long time ago before we created the government sponsored entities, Fannie, Freddie and Jeannie Mae mortgages, if you went to a bank to get a mortgage, it was always going to be floating rate, a digestible rate mortgage because the banks didn't want to take on such a long duration risk. And what happened was Fannie and Freddie and Jeannie Mae were put into place to try to get the cost of debt down for Americans to buy homes and a goal to increase home ownership or help more people get into homes. And they introduced the 30 year fixed rate mortgage and then they would package up those mortgages eventually and create bonds backed by these mortgages. So you can basically buy a bond that's government guaranteed, that's whose cash flows come from these mortgage backed securities. And so instead of taking on credit risk, what you're really taking on is prepayment risk. If rates go down, borrowers have the ability to refinance without any cost really. And if rates go higher, then the refinancing activity slows down. So you have this kind of like uncertainty of how long your investment is. Is it a one year bond or is it a 10 year bond? It all depends on the prepayments through time. So instead of sitting around and worrying about credit risk and default risk, you're really sitting around and worrying about the direction of rates and what that means for refinancing activity. And so the direction of rates is a great place to go. You've been doing this for a while. How would you characterize the investment environment, the interest rate environment that we're in right now? Well, it's been the worst interest rate environment that I've seen from a sharp movement and rates higher. I mean, we've been in a bond bear market now for three years, the 10 year yield on a closing basis. The low was in August of 2020. Intraday, we were a little bit lower in March during kind of the fiasco when the shutdown started. And we've reached new highs in August across the curve really. So it's been a really tough market. Part of it's been driven by the Fed with their reaction to high inflation. And we've seen a pretty dramatic increase in short term rates and the long end has fallen. And we have a little rally as there was hopes and glimmers of a soft landing and data rolling over. But what we have now is the soft landing narrative is still there, but the data's coming in better than expected. So I think a couple of prints, the GDP print came in strong, you had services coming strong, you had some jobs that are still coming in strong. And so the whole curve has kind of shifted back up with the market now thinking the Fed may still have more to do. And if they don't have more than one hike, they're at least going to keep rates higher for longer. And if the economy is strong, then why should long term rates be so low? Maybe they should normalize up towards, let's say, four and a half, five percent on the 10 year. So that's kind of what's happened, I think over the last 30 days is the narrative has shifted from kind of this expectations of growth rolling over to, you know, perhaps growth is better than expected. And now the market's just waiting and watching for more data to come in to guide them. So you're not to put words in your mouth, but maybe you're more in the camp then that the higher rates that we've been seeing is a good sign for the economy versus a bad sign for the economy? I think in the near term, it's a good sign. It means that the data is coming in positively. The data is backwards looking, though. So I think inevitably the lags will kick in and higher rates will start hurting certain pockets of the market. You know, the what's happened is so many high quality companies locked in such low cost of debt and so many Americans locked in such low cost of mortgage rates. Right. Three, three and a half percent, you know, maybe a year or two years ago that it's just taking long for the transmission mechanism of higher rates to come to the economy. We just have way more fixed debt than than we used to. Europe is a place where the transmission mechanism is perhaps working faster because more of their lending to companies is floating rate at banks. So the places where we're going to see the pain and we're already seeing pain now are pockets that are more floating rate. So commercial real estate is a good example. A lot of floating rate debt there. You're talking about people that borrowed it like, two percent, three years ago, and now they got to roll their debt at like seven percent. Right. It's going to create issues. Bank loans, bank loans float and the cost of debt is effectively double. The average spread on the bank loan index going back 10 years is about 500. And short term rates are now 500 basis points. So these companies went from borrowing at five percent to now having to pay 10 percent. It doesn't happen overnight. It takes time. Those are those lags that everyone talks about. And I think that they'll still come through eventually. And it's probably going to happen sometime in the fourth quarter or first quarter next year. So right now, the move higher in rates, I think it's in reaction to the positive economic data that we're seeing. But I still think it's an attractive entry point. If you haven't owned long treasuries or assets that have interest rate risk, it's been a good thing for you. So congratulations. But now it's probably one of the cheapest parts of the market. I mean, you want to buy assets when people are pricing in all the bad things. There's not much downside left. When I think about treasuries, that's kind of how it feels right now. Like everything bad that could happen is happening or has happened. Right. The Fed is hiking. Inflation was high. Foreign buying is very low. Economic data surprisingly upside. So it's kind of like all the bad news seems to be in. Last week was interesting because you had that services PMI come in stronger than expected. It will jump up. I think it went from like 52 to 54 or something. If it's north of 50, it's expansionary. And the economy in the US is very service oriented. And off that news, the bond market didn't really move much. It's already kind of at these high levels. I think you would have expected another move higher in rates on that news, but it kind of just settled in. So the big headwind right now is the supply. There's just a ton of treasury supply coming. But if you get any data surprise to the downside come kind of Q4 or maybe Q1 of 2024, I think that could ignite a pretty strong rally in rates. So the thing to worry about is really, does growth stay stronger than expected? We grow our way out of this, right? Yeah, absolutely. So would you agree that the Fed is much more influential in determining short term rates and the market is much more influential in determining like 10 year yields? Yeah, I agree with that. I think that's accurate. So maybe back it up and help our listeners understand what makes the 10 year yield move in either direction? What does it mean when it's moving up or when it's moving down? Yeah, I mean, there's different ways to models that have come out from different participants to like estimate what the fair value for the 10 year should be. One of them is what is the neutral rate of interest that's neither accommodative or restrictive? The R star. And that's, I think, the first layer. So let's just throw a number out and say that's like 2%, right? Then sometimes people say, well, then you need to layer in what long run inflation will be over that 10 year horizon. So let's call that, that's another 2 % or so core CPI gets back down to that level. And then some term premium, maybe that's 50 basis points. So that would get you to like a 4 .5 % 10 year treasury yield. You're getting the neutral rate plus some premium for inflation over 10 years plus some term premium. And you could argue over the term premium, maybe it's supposed to be 50, maybe it's supposed to be a hundred. If you think it's going to be a hundred, then you should think 10 years going to 5%. Now on the flip side, there's buying from pensions and there's buying from money managers and other institutions that kind of can drive the fair value below that four and a half number we just came up with, things like QE, right? That's why we got to such low levels is that the buying outside of those that are just looking at that fair value coming in, maybe it's lack of supply, maybe it's foreign buying and so on and so forth. So part of it's driven by kind of expectations of inflation through time. And then part of it's just driven by the supply and demand of bonds that are out there. And that can be, things like QE can affect that, right? So that first 2 % that you called, I was picturing in my head is almost like the neutral rate. What determines that? What would cause that to be higher or lower? Or is that just fairly static across time in that assumption or that model? That's the big debate upon the context right now is, are we in a new world of higher inflation where the neutral rate would need to be higher? Whereas if you go back to like the last 20 years pre -COVID, let's call it when we were in this like world of secular stagnation, where there was arguments that maybe that neutral rates is much lower since we're living in a world of lower growth, lower inflation, so on and so forth. So depending on how things shake out and what the future looks like, maybe that neutral rates higher. What are some things that could make inflation and growth stay higher? There's like the three D's I call it. It's like demographics, right? We've had a smaller workforce every year going back the last 10 years because the baby boomers are retiring. We also stopped immigration pretty aggressively too. So demographics are part of it. You got defense spending, right? Governments are definitely spending more on defense and that could be inflationary, expansionary. We've got spending on decarbonization, right? There's going to be trillions of dollars spent on decarbonization. There's infrastructure spending that needs to happen in the US. There's all these sources of potential growth that are coming that in theory could keep growth higher, inflation higher. And this is not a bad thing for the economy, but it just means that rates will probably have to be higher. And so I guess the real truth will be shown is after we kind of get through the next 12 to 24 months, soft landing, no landing, hard landing, whatever, what comes next? And are these long -term forces that are potentially pushing through into the economy going to keep growth and inflation higher in the future? Got it. So pivoting to mortgage backed securities, what are you seeing in the mortgage backed securities market now? Yeah, mortgages look the most interesting they have in almost 10 years. If you look at the spread on current coupon mortgage backed securities, which are the bonds that are being manufactured today by the loans being made today. So these are like seven and a half coupon loans get packaged into six and a half coupon bonds. The spread on them somewhere call between it like 165 to 175 and relative to corporate spreads, which are almost a hundred or a hundred ish, maybe a little bit wide of that.
A highlight from Ep.118 - Rewind to 1967: The Year That Changed Music Forever
"Well here we are episode 118 I think I think I forgot to list a few this might be like episode 120 or 121 I don't know I guess that's a good thing when you do so many you lose count anyway on this episode we're gonna be talking about the year in music 1967 and as usual I have the wrecking two in the house Mark Smith and Lou Colicchio of the music relish show very interesting yeah a lot happened sit back relax it's gonna be another two and a half hour podcast but we love it enjoy the show the KLFB studio presents milk rate and turntables a music discussion podcast hosted by Scott McLean now let's talk music enjoy the show yes let's talk music thank you Amanda for that wonderful introduction as usual welcome back my friends to the show that never ends welcome to the podcast you know the name I'm not gonna say it was streaming live right now over Facebook YouTube X formerly known as Twitter twitch D live and again I always I don't know how many other things and this podcast will be heard on every podcast platform yeah yeah 1967 so it was quite a year think you're in for a little little ride tonight yeah and you know who wasn't born in night oh he was three in 1967 marksmen from the music relish show good evening I was two years from being on this earth so you weren't even really thought of no you thought of it 67 think of that think of that yeah you weren't even thought of you weren't even like a sparkle in as they say in your father's eye there might have been the beginning of a sparkle who knows so let me see I'm looking at my is my screen still fuzzy on my end but I'm not even seeing it on YouTube right now I'm seeing it's live but I just got the image of the vinyl really yeah what the hell wait wait wait wait yeah no it's on it's on I see it I see it but my screen looks fuzzy right yeah that's how I'm seeing you from my end yeah what the hell let me check something here hold on okay let's do a little in show my you know that smooth little March of colors next to you when you open up the show yeah happy it's all like gone really weird I'm looking at this right let's go back to this see what happens I'm supposed to be in 1080 and I'm looking at it right now now you're sharp you just got sharp it goes back and forth it's a strange see like hearing yourself huh I guess I don't know what do a refresh here I'm playing it right Tom Benwald says it looks good patty says it's blurry that was in the beginning and it looks like it's sharp now so it goes back and forth you're starting to get blurry again it's strange got any storms down there no this this would this will drive me crazy now this is it's not supposed to be like this come on it's like a Grateful Dead show warts and all rice we're talking about 1967 there's no digital so it was still waiting for Luda come on so you know I'm going to do I hate doing this but I'm going to do it to you buddy what's that no don't cut me I'm not cutting you I'm gonna I'm gonna hit a refresh which might take me off the screen so the show is yours for about I don't know 60 seconds let's see what happens here let's see reload I'm gonna reload it so I'm going off the screen I guess it's time to advertise the music roll show with my friend Perry and my friend Lou we discuss opera we have fun how am I now you look better look yeah yeah looks better yep and I just advertised my podcast is that the opera I'll pay you I'll give you the money later on then I lose my this is like okay here we go you look better though all right good yeah good you know me I the technical stuff drives me crazy especially you know it's not only sound it has to be oh it's this is a live stream so it has to look yeah good and you don't want to drop out in the middle of the show no like me and Lou do once in a while race right let's see is the chat working let's see now I'm not seeing any I'm not seeing any comments so let me try this well sorry for the podcast listeners but I gotta get this shit right hey it's okay I should be seeing I should be seeing comments because people have already made three comments you over here maybe they're bored and they don't want to comment anymore no it's there it should be showing up on my screen over here right we know that my boss you busting balls only Bono does that let's see public so it should be getting huh this is crazy seven minutes in and I'm here we haven't done anything yet let me see send comment test I just sent a text to message I see I see you as I see mine okay good we're good we're good let me switch over to my other account and do the same thing I just want to make sure yes just our audience is bored they don't want to comment actually this is all Lou's fault yeah yeah always the you know I would probably lost the other comments is because I rebooted so hmm all right well you know what we're gonna start without Lou right as I say that as I say that does he have what does he what do you let's get the full screen nose is that why you were late you had to clean your nose and he's back in Paris again you brown nose er I've been a bad dog my laptop and he's back in pair you left here in Paris you must have left it back in the United States I did I left on the plane how you doing Lou I'm doing alright how are you guys doing well I just had a little technical difficulty and we blamed you because you weren't here so you left me alone and I had to talk opera with myself talked opera yeah rigoletto did you talk about rigoletto this time I'm just really boring you know I'm like all right this is why this is a two and a half hour podcast some of us have to work tomorrow all right here we go let's jump right into 1967 musical events in 1967 and the year kicks off right away with a bomb a bomb on January 4th the doors release can arguably one of the greatest debut records ever arguably if you had a top 25 greatest debut that albums would have to be in the top 10 it would have to be yeah you know if you had a top 50 that would have to be in the top 10 right even if you don't like them you have to say that was so ahead of its time oh it's so different nothing out there was like the needle and all you hear it kicks I mean fucking what a way to start an album it's a heavy song it with a bossa nova beat yeah I mean that's pretty clever yeah 67 so you know bossa nova was pretty hip again John Densmore over underrated underrated underappreciated I think you are you are so correct you know never gets the the the consideration that I I don't know you can't put him in greatest of all time but could he be okay if there's a top there's a top 25 drummer top 25 drummers is he in it good question and in rock we'll just say in rock I think he could be I could see him making so I don't know if he's a universal pick but I could see him on some list I mean he's something you'd have to think about like you said like it doesn't get noticed so much you know yeah yeah or it I mean although his drumming wasn't shy I mean he's jazzy as hell I heard um writers on the storm yesterday and his adjustment playing is great in his adjustments during the shows just for that yeah yeah the unpredictability of you know how the how the song was gonna go right because they could rehearse it all they want once Morrison got into that zone well in the drama keeps the beat right yeah yeah the drummer has to stay up with that yeah and played to the clown so to speak right you know and my my problem is if some of the clowns don't have the beat you know at one point they've got to give in like I said Morrison or even Dylan they'll set the tone but they've got to be steady themselves you know it's yeah otherwise it's just erratic but you know yeah guy like Dan's more I mean I had skill I had a lot of a lot of technical ability right feel yes cool so obviously his drums always sounded good yeah on the earlier on the other records even you know three years worth of music whatever I guess I would be who produced some Jack Holtzman was the producer did a good job Jekyll or now wait so no what was it Paul Rothchild yes yes yes I'm sorry Holtzman was he on the record company yeah yeah was that it was that chrysalis or chrysalis I think or just like yes that's a lecture a lecture weren't they on chrysalis though also I thought they were yeah maybe maybe chrysalis was a subsidiary but uh yeah Jack Holtzman's son is Adam Holtzman he's a keyboardist right now he plays with here we go Stephen Wilson but he does a little blog on Facebook and he talks about growing up and he was like six years old and his father brought him to a club to see the tour Wow at six years old he just talks about like yeah it's a great little blog Wow all right and four days later on January 8th Elvis Presley turned 32 on January 14th the human be in right the human be e -i -n human being takes place in San Francisco's Golden Gate Park polo fields with spoken words from Timothy Leary Allen Ginsberg Gary Snyder in others live music was provided by Jefferson Airplane the Grateful Dead Big Brother in the holding company and Quicksilver Messenger Service speeches from Jerry Rubin and others were also given at the event although it's one band there I liked yeah Quicksilver Messenger Service who was it on January 15th 1967 who is your favorite poet of all them I know you're not asking me Arthur Rimbaud who influenced Jim Morrison good answer good answer way to bring that first opening segment rough full circle we're getting better Scott we're good now you guys get a lot of good trust me I'm getting a lot of good feedback so let's keep it at that I don't want you son ask for more money and on January 15th 1967 the Rolling Stones appear on the Ed Sullivan show at Ed Sullivan's request finish it he asked them to let's spend sing let's spend some time together is that the one there you go yeah and then he told him a really big shoe I hate to do this I mean I come back on penalty box I don't say just he beat my record okay look he just got on the show after late and these are either he's stuck he's frozen put the dog nose back on where'd it go are you throw it at the camera like your headphones on January 16th 1967 the monkeys begin work on headquarters the first album to give them complete artistic and technical control over their material and it was fucking horrible fucking horrible what were they thinking they know they were thinking the egos got too big they thought they were the music well the argument can be made that you know Mike Nesmith did write different drum yeah so he could write songs but I don't think he was a pop songwriter you know headquarters and they try to be all fucking like 60 ish and shit they weren't looking for pop were they they're trying to be like more psychedelic yeah I think so there were their channel on the Beatles with those quirky little yeah with anti -grizzelles on that I don't know some weird shit I'll tell you what though I don't care about it myself but it was surely a harpsichord on it because that's what all those records had they had to have a harpsichord and I have the book this the 100 best -selling records of the 60s the monkeys got a they've had quite a few albums on there oh they do yeah they were they were but I mean I thought it was just a condensed period of the show which it probably was but it's still I mean they've got I mean most of their albums sold really well yeah yeah ah you like the show what's it is like the show I did I still like it I still love it I love that that that's so that humor is great like dumbed down brilliantly done though humor yeah way was what they were supposed to act like that yeah you know what I mean there was no like these guys are bad actors they knew exactly how to do that they pulled it off great it was campy it was great for its time it's still great to watch now yeah I do think that banana splits were a better band yeah that's I'll give you the banana splits were a kick -ass band yeah yeah kick -ass man did you see the movie recently came out it's a horror movie with the banana splits the banana splits movie it's a horror movie yeah yeah it takes place in an amusement park and they're they're robotic and in Dyson and slicing baby Dyson and slicing I have to say oh man that's yeah okay yeah Dyson and slicing it's good it's kids again campy movie but I couldn't not watch it yeah I have to say I'm sure Fleagle is a total psychopath well I'm not gonna give you any and no no no spoilers here those was it just Dyson and slicing on January 17 1967 the daily mail newspaper reports four thousand potholes in Blackburn Lancashire and Guinness air Tara Brown is killed in a car wreck these articles inspire lyrics for a day in the life a day in the life yes on January 22nd 1967 Simon and Garfunkel give live can't give a live concert at Phil harmonic Phil harmonic call in New York City some of this concert is released on October 4th 1997 on their box set old friends but most is not released until July 2002 that's some more okay January 29th mantra rock dance the quote ultimate high of the hippie era is organized at the Avalon Ballroom in San Francisco featuring Janis Joplin grateful dead big brother in the holding company for three Moby grape quirky that would've been interesting that's the best man that's the best as though for they're almost like the MC five kind of I think they were just kind of but they're they're a San Francisco band and beat poet once again Allen Ginsberg shows up to do his spoken word I heard he was a member of NAMBLA I wouldn't the National Association of Marlon Brando look -alikes I heard I'd someone I remember he actually he was a sponsor of NAMBLA but anyway on January 30th 1967 the Beatles shoot a promotional film for the forthcoming single strawberry fields forever at Noel Park in Seven Oaks have you seen it I have seen it I haven't seen it in a long time it's really cool yeah yeah it's kind of dark speaking of dark on February 3rd 1967 UK record producer Joe Meek murders is it his landlady and then commits suicide by shooting himself in the head in Holloway North in London it's kind of dark didn't he produce sleepwalk yes letter Telstar some early we talked we did it bit of a genius really yeah let's see February 7th Mickey Dolan's no let me stop February 6th Mike Nesmith and Mickey Dolan's of the monkeys fly into London Dolan sees till death do us part on British TV and uses the term Randy's scouse grit from the program for the title of the monkeys next single release Randy's scouse grit not releasing it is an offensive term Britain's British census forced the title to be changed to alternate title and then the next day Mickey Dolan's meets Paul McCartney at his home in st.
A highlight from Arthur Brooks! Senators Cotton & Lankford, Fmr. Rep. Mike Rogers, Jim Geraghty and Olivia Beavers!
"Lots of channels. Nothing to watch. Especially if you're searching for the truth. It's time to interrupt your regularly scheduled programs with something actually worth watching. Salem News Channel. Straightforward, unfiltered, with in -depth insight and analysis from the greatest collection of conservative minds. Like Hugh Hewitt, Mike Gallagher, Sebastian Gorka, and more. Find truth. Watch 24 -7 on SNC .TV and on Local Now, Channel 525. Welcome to today's podcast, sponsored by Hillsdale College. All things Hillsdale at Hillsdale .edu. I encourage you to take advantage of the many free online courses there. And, of course, listen to the Hillsdale Dialogues, all of them at hughforhillsdale .com or just Google Apple, iTunes, and Hillsdale. Back now with my friend Arthur Brooks. Part two about this book, which we began yesterday, Build the Life You Want, Arthur Brooks and Oprah Winfrey. Yesterday was the intro, Arthur. Now, I want to do in part two the most important takeaway for me. Now, that's not for everybody, but for me is stop judging people. Now, you and I are both Catholics, so that means we've both been exposed to a lot of terrible church music. And I try not to judge the liturgy every time I go, but I always judge liturgy. And in confession, I always get assigned the litany of humility because it's a very good litany. But I think it is the key takeaway to being happy. Would you explain what the judgment advice is and how you came to it in the middle of Build the Life You Want? Yeah. So this book talks a lot about how you can manage your emotions through three basic techniques. Now, to begin with, you have to understand your emotions and get space between what you feel and how you understand these emotions. And you can do that through journaling and meditation and prayer and some people go to therapy and whatever. But once you actually have some space between the things that are bombarding you emotionally and what you decide to do, then you can react in several ways that are very constructive. Number one is you can decide to react differently than you feel. The second is you can substitute better emotions for the ones that you feel. And the third is what you're talking about, which is you can disregard your own judgment on the world. And this is critically important. Look, people are walking through the world saying, this is bad, this is good, this is bad. I'm bad. I'm not lovable. You're not interesting. The traffic is crummy. The coffee is bitter. And it's just exhausting because when you're doing that, you're not observing the world. You can't live in awe. And the result is that you are, in those moments, the central character in your psychodrama. The minute that you're judging everything, then the whole world is subject to the judgments of Hugh Hewitt and you can't stop thinking about Hugh. And that's just torture. We need to actually get some perspective and some peace. And the best way to do it is judge not, to quote St. Matthew. Now, he says, judge not lest you be judged. And even if people are listening to us are not Christian men and women like you and me, then judge not lest you be judged. Because when you judge everything around you, you're judging yourself as well. And it's exhausting and you will be unhappy. Stop with the opinions already. You don't need an opinion on everything. You almost don't need an opinion on anything. Let it go. Just simply allow it to roll over your back. I think it's just maybe the key chapter, but there are a lot of key chapters in here, Arthur. Let's make sure I touch on the key technique. I told him what the key takeaway, which is to keep a database of positive memories close at hand. And I employed this when my oldest, who is now 38, was a little girl and she would have a nightmare. It's happened. I would always end up with her talking about her favorite ride at Disneyland. And we would substitute a Disneyland ride for whatever it is that had woke her up with the bad dream. And I immediately referenced back to that when you talked about keeping a storehouse of good memories close at hand. That sounds so simple. It's really a wonderful idea, but people don't do it. They keep their bad memories close at hand, but they don't keep their great memories close at hand. Am I right generally? Absolutely. We have a negativity bias and that's just part of evolution. Evolution has equipped us to always pay attention to bad things and refer back to the archive of bad things that have happened in the past. And there's a reason for this, Hugh. The negativity bias that humans have is because negative emotions keep you alive, quite frankly. Your anger and your disgust and your fear and your sadness. This makes sure that threats don't hurt you, you're able to run away, that you're afraid of being sad so you don't want to be separated from your kin. So don't you walk the frozen tundra and die alone. All of these negative experiences or the negative emotions that we have are keeping us alive. The result of that is they're always getting our attention and we remember those things very distinctly as well. But that's not adapted in a functional way. The truth of the matter is that walking the frozen tundra is bad, but Twitter is no big deal. And so we're thinking about negative things that are little and insignificant using the same onboard computing hardware that was developed for the Pleistocene era. So what do we need to do? We need to be smart about it. Don't live just according to our instincts, but actually think and create a strategy that's more practical for the current moment. When you have a bad memory, when you have a bad dream, when you're feeling particularly negative, usually that's not an accurate representation of the world around you. People always say, look on the bright side. Well, actually you have to be more specific than that. You have to be more tangible than that. And the Disneyland memories are a really good place to start. I recommend that people keep a running list of the things for which they're grateful. Update it every Sunday. The top five things. I don't care how stupid they are. I got a bag of candy corn and liked it. If that's on your list, more power to you. Update it every Sunday. Look at it every single day. Literally, you'll be 25 percent happier at the end of 10 weeks because of the emotional substitution that you're undertaking.
Leo Terrell: Black Voters Simply Care About American Issues & Values
"Not controversial at all we just the do numbers are we lose 90 % of black vote which is absolutely unforgivable but when you look at people who've have done well with the black vote and both Trump and DeSantis have done well they've done okay he did very well down here in Florida the key that they I think they they they both had both of them what were they didn't treat black black voters any differently they didn't talk to black voters like they had I mean black parents care about soccer games and jobs and I it's not it's just so ridiculous I think how we overthink this thing you know I knocked on doors for two years in Maryland which has the largest population of upper -middle -class black voters anywhere in the country and then this is nothing surprising oh yeah how's the job right that's what I want to talk about jobs health care public safety I mean I think we overthink this thing and I think in this election if Trump were to win the nomination he seems to really be in the black community I don't want to get crazy you ain't gonna get probably 25 % of the vote or anything but we could really stand a really good chance at pulling anywhere from say 12 to 20 % and that would be an earthquake in a national electoral politics oh you're absolutely right Dan and your summary was perfect spot on I mean look I left the Democratic Party because they abandoned law enforcement they basically schools abandoned Dan I'm not on this radio program with you if it wasn't for quality school and that's being denied to all Americans you think inroads in with community the black by talking about American issues because everyone suffers from inflation crime, lawlessness, poor schools so what Trump is doing because I left in 2020 and yes he makes some inroads you get if Trump gets 15 to 20 % of the black vote 12 % 14 % there's no Democratic Party and I'll tell you right now he's doing much
Monitor Show 14:00 09-20-2023 14:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV battery's environmental impact, behind sand, yeah, sand, you get context, and context changes everything. Go to Bloomberg .com to get context. Trend cruising speed. We'll get the forecast from the Federal Reserve in about 20 seconds time alongside that Fed decision. Going into it, the price action looks like this on the S &P 500, positive by 0 .2%. On the NASDAQ, almost totally unchanged. To the bond market, yields on a two -year, shaping up as follows, near, in and around 5 % on a two -year in America, 5 .05%. Mike McKee has the decision. This is the very definition of a unanimous hawkish pause. The Fed leaves rates today in the range of five and a quarter to five and a half percent while saying growth is solid and inflation elevated, so hire for longer. Policymakers leave another rate move on the table for this year and take two reductions off the table for the next two years. The statement once again discusses, quote, the extent of additional policy firming that may be appropriate. And the dot plot shows that 12 members of the Open Market Committee still believes they will raise rates by another 25 basis points this year. The high dot at six and a quarter percent comes out of the dot plot with St. Louis Fed's Jim Bullard's retirement. For 2024, the committee now sees a median effective Fed funds rate of 5 .1%, up 50 basis points from their June projection. And for 2025, 3 .9%, up from 3 .4 % in June. The long -run neutral rate is unchanged at two and a half percent, although the central tendency range moves up to 3 .3 % from 2 .8, and the dots show seven members think that the neutral is higher than two and a half.
A highlight from Solutions to Student Loan Debt: Bridging the Partisan Divide with Alan Collinge
"Before the pandemic, 58 .9 % of all borrowers were not paying on their loans. That's nearly three in five of all borrowers were not making payments on their loans. That's going up. All right, thanks for tuning in, tuning in to the podcast. I got you downloading the podcast, listen to the podcast, whatever you do. We've done radio, by the way, for 25 years, if you haven't listened before. And so it's hard to shake that habit. But today, of course, it's a podcast. And we have a special guest today, which is not often that we have a special guest on our podcast. So I'm kind of looking forward to this. We have Alan College, right? He is a member of the studentloanjustice .org group. And we're going to talk a little bit about student loans and waiving them and the whole business of college, which really has turned into more of a government business, -funded which, as a result, if you see that as the wild inflation there. But we're going to talk about that and the cost and just kind of go back and forth on some of the things that you believe in, some things we believe in. So we'll kind of go from there. So Alan, let me ask you this. So we'll start off and just jump right in.
A highlight from Shadows of a Silhouette - Fortune Favours The Fortunate
"Welcome to Let's Be Frank, the men's mental health podcast. Join us as we break the stigma, embrace vulnerability and prioritize mental health in men. Together, let's use your voice. Guys, welcome back to Let's Be Frank, the home of men's mental health. Today, we have got a brilliant rock and roll quarter in the house that go by the name of Shadows of a Silhouette. And the sound is a fusion of alternative, rebellious and personal vibes. Coming from the heart of England, this band has released over 25 original tracks on Spotify, iTunes and Amazon. We're joined by Nathan Tyler, who, along with friend Greece, have been creating music for four years, turning out more than 50 songs on SoundCloud and major platforms. Drawing inspiration from legends like Arctic Monkeys, Bowie and Nirvana, the music has even graced BBC introduces for the East Midlands. And they've rocked the Metrodome in Nottingham. They've also played the Quarry Stage during the Wyandotte Festival in front of 2000 fans, an experience that fueled their passion for music. This year, they have hit the main stage at Wyandotte Festival, producing an unforgettable show. So guys, girls, stay tuned as we dive into the guys world and discover what drives this band's unstoppable journey. But as always, let's check in with resident host Mr Ryan Smith. How are you doing, mate? What an introduction that was, eh? I'll tell you what the hell's going on. This is like the big time now, isn't it? This is just like, I'm going to say so rock and roll, but that's like, I think that's more like 60s rather than the 90s, I don't know. Anyway, I just know I'm older than most of this band put together. So, yeah, no, absolutely brilliant to get these guys on. I'm feeling good. Started watching the ice hockey today, you know, a little bit late jumping on with you just because of the ice hockey. But do you know what? I'm in a good place. So, yeah, guys, welcome to the show. How are you all doing? Well, thank you. Thank you for having us on. You say you're a lot older than us all put together, but we all know, mate, you're still 21 in that. Hard to show if it was, but we break through and still look like a one year old messing about. Bless you, bless you, bless you. Panthers or Steelers? Don't mention that second one. No, if you mention that second one, you mention that second one and we'll just stop this right now. All right. No, no, no. I didn't realise. That's all right then. That's all right then. Yeah, yeah, Panthers, Panthers through and through. No, but guys, honestly, welcome to the show. We've been throwing a couple of conversations back and forth for a bit now and it's finally here. So, you know what? Guys, introduce yourselves. Well, we're Shadows of a Silhouette and, of course, we're a four piece band from Derby. We just, Derbyshire, we try and focus on sounds that are a bit more like authentic, like through and through. Even all of us playing our own instruments on songs like you wouldn't think that to be something that you'd be lacking in the music industry. But actually, nowadays it's more dominated by electronic simulated sounds. I'm Nathan Brown, the lead singer. I've got Rhys Carter, lead guitarist. And Ferg's in Corfu at the minute, but we've also got Tyler Anderson, our drummer. Fantastic. So, yeah, guys, I managed to listen to your latest track that's going to be released, I think, later this month. You know, well, later in September. We're recording this at the beginning of September. But, you know, you're going to be releasing that one. I'll tell you what, I was listening to my car on the way back from Mansfield earlier and it's catchy and I get it. You know, it's I think it speaks. So, yeah, I'm looking forward to that being released. It's my personal favourite song that we've written for a long time. Yeah, it's fun to play in all life. Yeah, it's quite political. It's a banger. But, you know, it's really like a partial political. It doesn't really speak to supplement anybody else, any political party or belief system. It's more for the common man, isn't it? Yeah, it's just more for the common good side of politics. The politics doesn't actually get spoken about in politics. No, no. And, you know, I actually thought, you know, it actually reminded me of sort of Age of the Shadow puppets. Like Shadow puppets? Yeah, yeah, yeah, yeah. So, yeah, it's that sort of... You're sorry? It's funnily enough the first band I ever saw live, actually. Yeah, that's why it's had that sort of beat to it, that sort of rhythm to it. And it just, yeah, you know, it was good, it was good. Well, I'll take that. Anyway, no, absolutely. What was the whole process behind writing that song? So, what was your thinking behind it and kind of how long has it taken you to... Well, I had a riff kicking about from the start of lockdown, really. Obviously, we couldn't practice, so... We were writing other songs. Got me loop pedal, yeah, and got the riff down. But we didn't really touch it until about, when was it? Like January? It started kicking it about, didn't we? We got some drums on it, and then Nathan wrote, as he does with most of our tracks, wrote all the lyrics for it. And, yeah, it's... It came quite quick, though, didn't it? It was just one of them, like, kick your fingers movement when you and us rehearsing. And then it just, we just all looked at each other and just thought, this is awesome, this. And then Nathan's writing side to it. It just... Put the structure together. Put the structure together, and then, like I say, it was just about... The words just came straight out. It's this one. Yeah, it's what we opened up the main stage with one or two as well. Yeah, it's brilliant. It's quite... Yeah, like, straight in your face, isn't it? Tempo, it's got tempo, it's got attitude. It's like hitting a knockout punch in the first round. It is a cracker, it is truly a cracker. It is really a cracker. Yeah, the lyrics, the lyrics. And it was, as you say, it... It's just the whole idea of that track. Straight in your face. Yeah, that's what we wanted. It's a song to get people's attention, really. And then it's... You know, who are these? And then it's... We've got you in the palm of his hand then. Crick up your ears. Also, it's an expression of that... Those little thoughts we all have about, you know, on a daily basis, when we're considering what's going on in the world around us. It's just a... No. With our ability to create media, to add into the great ocean of it, we think certain songs come out in principle, or because of principle, that something to have been spoken like that, or in a way, just for some... It can be heard from somewhere by someone. It's just about the rich going rich and the poor going poor early on, isn't it? Well, it's about the trap. We're all trapped. It seems like we're... The fucking mouse trap's already come down over us, and we're all stuck, you know. But life keeps going by for everyone as an individual. But there's a stranglehold on a lot of us, personally, as people trying to get through this world, but it's so slow for some people who don't have to suffer it. So, looking at kind of that... You know, looking at the song, are you speaking from your own sort of backgrounds and stuff as well, your own experiences? I think it's kind of impossible not to, of course. Like, when you are writing Straight From the Heart, not all of our songs are, right? Because sometimes it's nice to write a song about an idea that doesn't paint a memory. It's just... But then again, on the other hand of that, a lot of our tunes are personal anyway. Especially over the last couple of years, with what's gone off with Reece and Nathan and stuff like that. So, it's a way that I sort of... I'm sure Nathan's probably the same as to get these thoughts that are in your head. I have to get them out on paper and write them down about lyrics or poetry and then channel that into some of that music, which then becomes something tangible. The thoughts that you've got in your head, for me, it's the perfect way to sort of... Say what you want over it. Yeah, get it out and... To make room. Then it becomes relatable, because although it's personal to you, other people can then relate to that and hear what you're saying. Like, yeah, I know what you're on about here. Well, certainly we want to know what it feels like when they can hear the fact that we're getting something off our chest in these songs. Yeah, yeah. Because it's not whitewashed at all, really. We all work full -time, full -time jobs. We didn't go to uni or study music or anything. We came together because we all... Look like rockin' art. Look like rockin' art. We think it's one of the best things in the world. It's a freedom from life. That's good the thing about music, where it doesn't matter what race you are, doesn't matter what religion you are, everybody can come together and just be in the same field or at a venue and enjoy the same thing. Everything goes out the window. It's a universal language. And there's a lot of culture where we come from, a lot of working culture of people working really hard, raising families, but not really making enough time for themselves. We come from an area in the East Midlands where lot a of insufferable mental health is right there on the surface, but people don't even talk about it. They all know what's going on with each other. I know Jack's got a question for you, but obviously we've just jumped on beforehand and where I live, it's actually, what, five, ten minutes from... Not even ten minutes, is it, from where a couple of you guys live? So I get what you're saying. You're looking at the smaller sort of outlying villages that are ex -coal mining places. It's a similar sort of state in Wales. It's a similar sort of state in Lancashire, Yorkshire and things like this. And it's these forgotten roots. And listening to that track that you've shared with us, you can really hear what you guys are trying to achieve. So it's more of an observation rather than a question. But I know Jack's got a question for you. Before we come, because obviously we're going to look at your personal journeys and kind of delve into there and prod around a little bit, but while we're on the subject of why not, I want to ask you guys, how was that experience going main stage? It didn't even seem like that much of... There was a feeling of being out of place, but also at the same time being exactly where we're going. Yeah, it wasn't imposter syndrome, but you feel like... The best thing is if you feel like you've earned it, but then you also feel that if you're not getting nervous for a gig like that, I think you've got to get nervous to some degree, because at the end of the day, you're entertaining people and everyone's around on you to put a good show out. And then we just hope we deliver. And that's like, it doesn't matter how much of a buzz we've got to have to play. And the first thing I said to people closest to me was, did you like enjoy it? It's not about us, it's about the fans. Yeah. But the experience is just... What was that feedback like? Oh, brilliant, yeah. Absolutely awesome.
A highlight from UNCHAINED: Zeke Faux's Crypto Adventures and His Relationship With Former FTX CEO SBF
"Hi, everyone, welcome to Unchained, your no -hype resource for all things crypto. I'm your host, Laura Shin, author of The Cryptopians. I started covering crypto eight years ago, and as a senior editor, Forbes was the first mainstream media reporter to cover cryptocurrency full -time. This is the September 19th, 2023 episode of Unchained. Toku makes implementing global token compensation and incentive awards simple. With Toku, you get unmatched legal and tax tech support to grant and administer your global team's tokens. Make it simple today with Toku. The game has changed. The Google Cloud Oracle built for layer zero is now securing every layer zero message by default. Their custom end -to -end solution sets itself up to bring its world -class security to web three and establish itself as the HTTPS within layer zero messaging. Visit layerzero .network to learn more. Arbitrum's leading layer two scaling solutions can provide you with lightning fast transactions at a fraction of the cost, all while ensuring security rooted on Ethereum. Arbitrum's newest addition, Orbit, enables you to build your own tailor -made layer three. Visit arbitrum .io today. Buy, trade, and spend crypto on the crypto .com app. New users can enjoy zero credit card fees on crypto purchases in the first seven days. Download the crypto .com app and get $25 with the code laura. Link in the description. Today's guest is Zeke Fox, author of Number Go Up. Welcome, Zeke. Hey, thank you so much for having me, Laura. Yeah, I'm excited to chat. You just came out with your book, Number Go Up. Congratulations. Tell us what it's about. Number Go Up. I've started out as it's my the story of like the two years I spent going down the crypto rabbit hole. And when I started out, I was just kind of curious and skeptical. And I was arguing with my friend about the reasonableness of a betting on Dogecoin. It's like the height of the pandemic. And I don't know, I got kind of sucked into investigating crypto. Two years later, I was cut to I'm in the Bahamas, going to Sam Begman Fried's penthouse just before the cops showed up interviewing him about the collapse of FTX. And so you said that this was your period of going down the crypto rabbit hole. What had you been doing before? So I've been an investigative reporter for Bloomberg for a long time. And at Bloomberg, I generally write about kind of the shady side of Wall Street. So I'd written exposes of predatory lenders, penny stock scams. One of my favorites was about a Patriots fan who stole the New York Giants Super Bowl rings after the 2008 helmet catch game. So I'd always been looking for like wild stories to tell in this world of business and finance. But I kind of resisted crypto as a potential topic. I just didn't really see it as like, I mean, you're going to laugh at me now, but I just didn't really see it as like a good target for an investigative reporter. And it wasn't because I thought crypto was like the future. It's just like this may be hard to believe if you're like a big time crypto guy, but actually maybe not because I'm sure you talk about it with your family and everybody. But like outside in the traditional finance world, a lot of people are so skeptical about crypto that they were like investigating a crypto company and finding out something bad about it, you wouldn't find anything surprising. I don't even care about that story. But what I realized was that my first crypto conference was Bitcoin 2021 in Miami. And I showed up there and I just met, I realized there were so many crazy characters in crypto. There were so many people that I'd love to write about. And I'm like, these are the kind of people who I need to get to know. One of the first people I sat down with was I met Sam Bankman -Fried there. I met Alex Mashinsky of Celsius, who was very prominent there. I had Michael Saylor saying all sorts of crazy things about Bitcoin. And I came back and I told my editor, like, I was wrong. There's all sorts of weird stuff going on in crypto. This would be a great topic and it'll be, you know, it'll be a long time before. There's too many stories to choose from. Yeah. Yeah. And it's funny in terms of the years that you, quote unquote, went down the crypto rabbit hole. Those were two of the craziest years and in a way, like some of the more unusual years of crypto, I would say. Just so before we dive into, you know, the different escapades you underwent in your book, you mentioned earlier that you were both curious about crypto, but also skeptical. So, you know, before we dive into what you were looking into, I wanted to hear your overall take on crypto. You know, when you say you're a skeptic, how much of a skeptic because there are some people who are skeptics and they completely dismiss crypto, but I didn't get that feeling from reading your book. I'm sort of like a skeptic in general. I'm skeptical of everything. That's why, like, I'm an investigative reporter. So if somebody tells me, hey, like Alex Mashinsky did, hey, I'm going to pay 18 percent interest. And if you want a loan from me, I charge like as low as zero percent. This is like in the world of traditional finance, a very backwards business model. When you say something like that to me, I'm going to say, yeah, I'm kind of, can you provide some evidence, like what, how are you investing your money? How does this how does this make sense? But I tried to keep like an open mind. And the question I was always asking was, what does your product do when I meet crypto founders? Can I see it in action? Can I talk to your users? Is it being used in the real world somewhere? That's one of my favorite questions, because as a writer, it's hard to write about things if you can't see them being used. And so that took me to El Salvador to see the Bitcoin experiment there. But it also took me to Ape Fest to see what it was like to be a member of the Bored Ape Yacht Club. And I was pleased I got one of the first reviews for the book the other day from Jeff John Roberts in Fortune. And he's, I think, feels fairly positively about crypto. He thought that my take on crypto was a little shallow, but that the book was so funny, he didn't care. And I'm like, you know what? I'll take that. I think we can all enjoy reliving these last two crazy years. And like whatever your take is on crypto, like there are crazy things that happened that we have all just like so much has happened. There's no way to like remember it all. But I have done the work of writing it down so you can go read it. Yeah. Yeah. No, it was definitely it covered the range of events. But let's actually talk about one of the main through lines. And I believe, you know, correct me if I'm wrong, that this was actually meant to be a book about Tether. And because I remember like a long time reading that it was coming out and I think that's what it said. And you kind of keep saying this to yourself that you keep saying it yourself in the book that, you know, you're getting these tips about Tether and you're trying to investigate them. You keep coming up against these dead ends. So before we go into all that, why don't you at least just tell us, so what do you feel were your main findings about Tether and like what were you trying to resolve? So probably old for like most people listening, but Tether is a big stable coin. Each coin is supposed to be worth a dollar because each coin is supposed to be backed by real dollars that are held in a bank somewhere. And I when started out, I wrote like a story for Businessweek about Tether. That was sort of the start of this project. I always thought as kind of like a good jumping off point, I pitched the book as like, this is the craziest financial mania we've ever seen in the world and it's not going to last. And I want to be there to chronicle it. And I see this like interesting central mystery that is going to like take me through. And that was Tether. At the time when I started, Tether said that they had, I think it was around 50 billion dollars in the bank. It was weird because on the one hand, it was pretty widespread to be, and correct me if I'm wrong, if I'm describing what crypto people think, because you probably know better than me, but like even people who are pretty into crypto in when they were talking to me, they'd be like, yeah, I'm not so sure about their assets like this. I don't know what's going on with Tether. This is like a good question to be asking. And it was being asked at like the highest levels of the U .S. government. Like Janet Yellen called a meeting of all the top financial regulators and the topic was like, what's going on with Tether and like, could this affect the world And I just thought it was a little when I started looking into Tether and I saw that, you know, among its co -founders was a child actor from the Mighty Ducks. I was just like, what is this in that the company I write in the book, the company was quilted out of red flags, like in the world of traditional finance, you did never you would never find a company with so many weird things to look into. And yet here it was like at the center of the crypto world. And I just thought it was it was funny to me that the heads of state were discussing this coin that was like dreamed up by a child actor from from the Mighty Ducks. And I was like, this is my kind of mystery. I want to dive in. I'm going to try and find Tether's 50 billion dollars. I see. So, you know, as we mentioned at different points in the book, you do talk about how you feel like you keep coming up against dead ends in your investigation. So what's your conclusion about that fact? Like, do you think it means that concerns about Tether are overblown? Does it make you more convinced that like the company is just really hitting everything really well or like what are your thoughts? Right now, Tether has only grown bigger. Midway through my reporting, I found that Tether had invested a lot of its assets into Chinese commercial paper. And there's kind of like this conflict of interest at the heart of Tether's business model, which is that if you give your money to Tether, you want them to keep it really safe. So it's there when you go to cash in your Tether tokens. But Tether doesn't pay any interest in the way that Tether makes money is they can take the money that you trusted them with and they can go invest it. And so there was this theory that especially when interest rates were very low, they might be doing weird things with your money in order to earn higher profits. And that so I found that they were doing some unusual things that included the Chinese commercial paper and also making loans to crypto companies like Celsius and others. So to me, that seemed like that's kind of risky. What's going to happen there? And as I followed along in the summer of 2022, like crypto companies fell one after the other and Tether did not. And there was even like a little run on Tether where users cashed in, I don't know, five, 10 billion dollars of Tether. And I'm sure if those people did not get their money back, like we would have heard about it. Right.
A highlight from Abortion Remarks From Gavin Newsom & Trump Creating Tons Of Controversy
"This is your source for breaking news and what to make of it all. This is the Mike Gallagher Show. Did you guys hear the U .S. Senate just eliminated its dress code because you got this guy from Pennsylvania who's got a lot of problems, I mean let's just be honest. This push from the UAW for a four day work week, do you see that as the future of labor in the U .S.? I happen to believe that as a nation we should begin a serious discussion about substantially lowering the work week. Now from the ReliefFactor .com studios, here's Mike Gallagher. We have a lot to keep up with a missing F -35 fighter jet that was found finally in North Charleston, South Carolina. You got all kinds of controversies involving President Trump in some of his interviews. You have the slaughter of a police, a deputy sheriff in Los Angeles, they caught the guy. A lot of breaking news, a lot of stories about the illegal immigration crisis in America. Lost in a lot of the headlines was the Speaker of the House, Kevin McCarthy, taking a bit of a pot shot at Ron DeSantis. It came during an interview over the weekend that he gave to Maria Bartiromo on Fox Business. I want you to hear this clip because I didn't catch this until last night. I was intrigued by this because all of us have to be very careful as this presidential election process plays out. As I've said over and over again, if you're a never -Trumper, what are you going to do if Trump's the nominee? If you're only in for Ron DeSantis and you hate Trump and Trump is going to be the nominee for the presidential race, what are you going to do? You're going to support Joe Biden? You're going to back a Democrat? How's that going to play out for you? I think the same standard has to apply to members of Congress, certainly members of Republican Party leadership like Kevin McCarthy. Now, I think he's pretty effective. I think he's been doing a good job and he's got a mess on his hands with this potential looming government shutdown. It's like herding cats trying to keep the various members of the caucus happy. Listen to what he said to Maria Bartiromo, though, about DeSantis and Trump. What's your take on this, that as we see more indictments of Donald Trump, he seems to be gaining in terms of popularity with the public? Will he be the nominee? I think he will be the nominee. The thing is, President Trump is stronger today than he was in 2016 or 2020. And there's a reason why they saw the policies of what he was able to do with America, putting America first, making our economy stronger. We didn't have inflation. We didn't have these battles around the world. We didn't look weak around the world. Well, it looks like Ron DeSantis is now trying to work with your colleagues who are pushing for a shutdown. Yeah, but I don't think that would work anywhere. A shutdown would only give strength to the Democrats. It would give the power to Biden. It wouldn't pay our troops. It wouldn't pay our border agents. More people would be coming across. I actually want to achieve something. And this is where President Trump is so smart that he was successful in this. You know, President Trump is beating Biden right now in the polls. Yeah, we have the poll. Let's show it. He's stronger than he has ever been in this process. And look, I served with Ron DeSantis. He's not at the same level as President Trump by any shape or form. He would not have gotten elected without President Trump's endorsement. And so I believe our best step forward, pass our appropriation bills. So we're stronger. Take the wokeism out, secure our border to make America stronger. Wow. I don't think that was on my I didn't have that on my radar. Does that surprise you that Kevin McCarthy is all in for Donald Trump? So I think to be fair and to be consistent, I have to say I have to apply the same standard to Speaker McCarthy, because if DeSantis becomes the nominee, they're going to have a bit of a bumpy relationship. Now, Ron DeSantis heard about Kevin McCarthy's position and responded as well. This is Ron DeSantis answering a question from a reporter regarding Speaker McCarthy's full -fledged endorsement of Donald Trump. Well, look, I would say I mean, I think that if you look at what's happened with D .C. Republicans, they worked very closely. You know, look, Donald Trump, he supported Kevin McCarthy very strongly for speaker. I don't think he would have won the speaker vote. Donald Trump was instrumental in him earning that speaker's gavel. And they worked hand in glove really throughout his whole presidency. They were on the same team on every major spending bill that came down the pike. And they ended up together adding seven point eight trillion dollars to our national debt. Never in a four year period has that much been added than what they did together. And so he said that we're different. We are different because in Florida we run budget surpluses. We've paid down almost 25 percent of our state's debt just since I've been governor. All the debt, all the way up for all of Florida's history, we've knocked off almost 25 percent of it. So it's a much different approach to where we're doing it right. We have the number one rated economy in the country. We've cut taxes. We've expanded school choice. And we've delivered in a way that has made the state sustainable.
A highlight from "DO NOT Buy Bitcoin Now! Here's WHY..." | Gareth Soloway
"I'm back and we're one day before the FOMC Bitcoin still at 27 ,175 now Gareth says Gareth Soloway He says that Bitcoin can get back to $30 ,000 But then he also says that even though Bitcoin can get back to 30 ,000. He wouldn't actually buy it. Listen to this Now interestingly enough, let's talk about how high can price rally right? So, I mean, let's let's talk about it So if you're someone who's saying wow, do I buy Bitcoin now? Honestly the answer is no now But he does think you can go back to to $30 ,000 So listen, what we're gonna do is we're gonna get Gareth on the show a bit later on He's gonna talk to us about what he meant when he said he thinks Bitcoin can go back to 30 ,000 level But he wouldn't actually be buying Bitcoin right now and that's ahead of the FOMC now. Remember it's a big FOMC why because we haven't heard from Jerome Powell since the 25th and 26th of July, so we haven't heard anything from Jerome Powell since the 25th and 26th of July and Remember that since the 21st and 26th of July we've had two very big inflation readings So the big question is what is Jerome Powell going to do tomorrow? Is he going to engineer a soft landing that is one thing that he could be doing or or or is he going to Fly the plane like that plane that got lost I think what we need to do is we need to spend some time talking about this because honestly Honestly, honestly, honestly I Mean, how can anyone? Lose an 80 million dollar plane even the Biden administration. Like how can you lose an 80 million dollar plane? No one can lose an 80 million dollar plane. Not even the Biden administration So this we've got a lot to talk about today. We're also gonna talk about finance We're gonna talk about finance in the SEC. They did go to court yesterday There was a little bit of FUD that came out of the court case yesterday Usually as you know, I don't really pay attention to the finance FUD But this time it's coming from the same people that warned me about Celsius and they were right So I took the side of Celsius and they were right So as I said, I don't usually pay attention to finance FUD because I think it's like usually just bat And I think there's too much finance FUD But I do think we need to talk about what came out of the hearing yesterday. So listen, I'm back We've got a huge show today one day before the FOMC. Let's go guys I Mean we have to laugh we have to laugh Not only did they lose a plane But then like to make matters worse they want us to help them Find the plane now. I mean, this is a true story They lost an 80 million dollar plane and they want us to help them find a plane That's the type of discussion that I usually have with James like I lost the soundboard James. Where's the soundboard? I lost it on the way to work. Anyway, we'll talk we'll talk about the plane later. There's a lot to talk about Listen guys, I'm back. I'm back in the studio. We've got a lot to discuss today Got a big show ahead of the the FOMC Also, I want to talk to a little bit about Asia I want to talk to you about Binance I want to talk to you about altcoins because we are getting bounces in the altcoins as you can see right here on the bubbles But it seems like it's stuff going up one day and down the next day Which means that there's no new capital coming in we know that and what that also means is that we're getting Asset money rotation between between one place or another and then also as a city later on gathers Garrett's coming on the show So we've got a lot to talk about we're a lot we're gonna be here together But let's talk about remember if you haven't yet subscribed the channel help us because one of the things that I realized in Singapore Was the bigger our channel the bigger the guests we can get on the channel the more attention they pay their pay to us And so when you guys subscribe to this channel when you like this content And we get the content out there and you subscribe to the channel That helps the channel grow that helps us bring more bigger guests onto the channel. That's why we need you I'll bring you the highest alpha per minute show in the world every single day and You will just like the content and then everything's fine. Everything works. It's a symbiotic relationship. Anyway, let's talk about Where we are right now Let's go to the charts what we can see when we look at the charts is that Bitcoin is above 27 ,200 one day before the FOMC meeting now, I heard rumors earlier That the reason why Bitcoin was actually rising is because the mount gox trustee may be forced to delay the distribution of the mount Bitcoin 2024 till that was actually written up by the blocks I heard the rumors much earlier today and then the block wrote something about it They're saying Bitcoin bounce may be due to mount gox delay rumors, but still targeting 22 ,000. That's a fan manager called QCP bitcoins price is largely due to rumors of delay that mount gox may drag their payments into 2024 that's actually exactly what I heard earlier today. So it could be that we may not be getting the mount gox Bitcoin hit in the market. Now you ask yourself. Why would that happen? So you very simply why would that would happen mount gox was hacked in 2014 this this this story took place in 2014 The liquidator like the FTX liquidator earns money on The longer this drags out the more the liquidator and it's almost like think about it like a lawyer Okay so the more this thing drags out the more money that the liquidator makes and it looks like the liquidator is going to continue to Pressure the side of the year now, let's go back to the charts because I want to show you something back on the chart So then if you remember but Kyle dupes said something very interesting. He said look when we get this death cross What will happen after the death crosses, but Bitcoin will go down But then Bitcoin will go up back to the price of where the death cross happened, which is twenty seven thousand seven hundred so so far Kyle's little I don't know if you want to call it a prediction is is actually playing out and playing out exactly like said Gary says we can actually go even to 30 ,000. I actually think that both of them are wrong I think that we may at some point soon this year this this month this year We will break that 30 ,000 everyone. I've been saying it for a while I don't know if you remember but I did say at the beginning of September when everybody was completely bearish about Bitcoin and everyone said oh September's gonna finish down because it finishes down every single September. I said no guys I think September's gonna finish up so far. I'm up five point five two percent So so far it feels to me like like like like I'm gonna look I'm gonna Get this but you must realize what's actually happening here James. What what's for lunch? Scacra doesn't talk but he's chewing here. I can hear the chewing going in my one ear and out and out over there Anyway, what we are seeing here is you need to look at the open interest on Bitcoin and what you realize is that the open? interest is just Completely tracking the price which means that price goes up open interest goes up price goes down open interest goes down That's what's going on here, which means it's just short term Ups and downs so to speak that are happening in the market and it's not real volume or real buying coming in So we still I'm still not convinced that this is the pump that's gonna take us over 30 ,000 But I am convinced that bitcoins gonna go north of 30 ,000 end of September Maybe even early October and I think shaldino shares the same the same sentiment as me because he's just opening lungs and lungs and Lungs and you should I think today you opened another long on the show. Did you guys did you guys watch Sheldon show today? scarecrows Scarecrows don't talk but the children open along yes or no scarecrows He opened us a line along. Okay, so say he did open a lot the guys got big big big kahunas I think the same thing was happening with alts when I look at the alt coins It looks like we're just getting a shift from one old coin to another old coin So yesterday roll, but was up today roll, but is down yesterday rune was up today rune is down and that's exactly what's happening There's no big moves. Let's just quickly check on the one hour time frame. No big moves. No big moves in all coins it's basically just a rotation of Many the good thing is that the fundamentals of Bitcoin and I said I don't say this likely but the fundamentals of Bitcoin have actually Never ever ever been stronger and what I mean when I say the fundamentals of Bitcoin have never been stronger So there's two parts of the fundamentals. The one part of the fundamental is the research So what does the research say? What are the fundamentals behind it? The other part of the fundamentals is something that is unique to Bitcoin and unique this asset class Which is the on -chain data because if you look at other asset classes, they don't really have on -chain data Bitcoin has on -chain data So, you know like when we say fundamentals we can actually just go to the chain and we can just say look Well, what is it? What does the chain say? What is the the data on chain say and here this is where it gets a little Bit exciting so it gets very exciting. The first thing is long -term The supply held by long -term holders up to the highest that it's ever been so you can see the percentage Supply that is held by long -term holds the Bitcoin never ever ever been higher that is Also evident here where you can see that 80 % of all Bitcoin have not moved in the last six months so what we're seeing here is long -term holders keep growing and then when they lot they hold they They hold for forever because it hasn't moved for more than six months What we also see is we see the short -term holders have been capitulated. They're out of the market. We don't see them anymore They were here. They they were good tourists and then we said bye -bye and they were just sending their money back to exchanges When I look at the unchain The unchain data right now and I said I don't say this lightly the unchain data right now looks the most positive that's ever been because the coins are sitting with the people who ain't gonna sell the Coins and when I say anchor solid coins, they holding the coins for for six months plus The sentiment is also very good. And I saw this tweet by Chris Paniski and he He shares the same sentiment that I shared in Asia He was struck by how incredible and what the buzz is that happened in a token 2049. You can see his his These guys are killing my ears Thanks guys. Thanks for thanks for destroying my eardrums. I used to have eardrums now they're gone Anyway, that's his version of what happened at token 2049, but he's been around for a while He says contrasting token 25 20 49 to the first bear market conference. I went to inside Bitcoin in April 2015 the worlds are completely different and that's true because Even though from a pricing point of view, we're in a bear market I'm gonna show you something very very very interesting about where we are in the market The other thing that's happening now, which we haven't seen in Bitcoin for for for a long time Since I got into Bitcoin people have been promising me that the institutions are coming into Bitcoin. It's always been the narrative It's like look we've got to prepare ourselves got to prepare us off Because you know what the institutions are coming in when the institutions come in The price of it coins gonna go to the moon and every time the institutions never came in They launched a Bitcoin futures and bang the the price collapsed So I've always been hearing since I got you That the institutions are coming into Bitcoin when the institutions come into Bitcoin They're gonna bring all the money with him But it's been this letdown because it like as much as I've been hearing about it The institutions just haven't come but they just didn't arrive now the institutions are undoubtedly undoubtedly undoubtedly here So we have got Citibank. They are now Unveiling their own Separate blockchain which is going to which which they're going to start piloting you got this is old news But you got the LSE looking to tokenize assets in the line the stock exchange As your as you will recall if you saw my video about token 2049 in Singapore I thought hey said big bull market he predicts and if you go watch that video see what he said But he basically how he breaks down why the bull market is gonna happen in 2024 he also breaks down that AI is gonna be the narrative that's gonna lead it and then he says, okay Well, then you need to you need to be buying file coin Then a German banking giant will be able to hold a number of crypto currencies for its clients So you can see what's going on here. You can see exactly what's going on Yeah, this industry is becoming more and more institutional Deutsche Bank one step closer to launching a digital asset custody service You've got Japanese banking giant Nomura launching a Bitcoin adoption fund for institutional investors You see what's going on here the institutionals the institutions are here are finally actually getting here but we are in a very very very unique time now because this is What Michael Saylor described when I interviewed Michael Saylor last time you'll remember it if you watch the Michael Saylor discussion This is what he said about where we are now about the unique time that we are now in In the cycle able to pick up the phone and call your broker and buy 50 million dollars worth of it Right. So we're at that stage where we know it's coming but We really haven't plugged Wall Street into the asset yet We're in this in between period which in my opinion is the best time to be it's like, you know the future No one else can act on it. If you if you have a crypto account with a crypto Exchange to buy Bitcoin right now So so you hear what he's saying he's saying if you we know they're coming they just it's like it's like it's like this Imagine a concert, you know, the concerts gonna start everyone's waiting at the door, but the gates aren't open yet You know when the gates open everyone's gonna come in and go to the car the concert you have the inside information But they can't act because the doors are still closed. That is where we are. Now. The institutions are coming in this morning I saw that blockchain capital Which is one of the original og funds in crypto, these are like, you know, these are two brothers original og og og funds in crypto raised 400 and say five hundred and eighty million dollars for two new funds now if you read where did they get their money from? most of the firm's limited partners are traditional institutional investors including University endowments So they've got five hundred and eighty dollars from all of these sovereign wealth funds and guys I mean if you were here in 2017 and you were here in 2018 and you were here in 2019 and notice it you look You know in next year or in two years time you're gonna get five hundred and eighty million dollars Given to two brothers in the United States Who have got a good track record and the money's gonna be given to them by institutional university By university endowment private foundations the writing's all over the world. All you have to do is You just have to Act because it's inevitable. It's completely completely completely inevitable And I know like a lot of you may may be sitting here and going yeah But you're not crypto is full of scams and you know, you know We spoke about keeping our customers happy and how every time we get the big names in crypto coming into our into our industry We destroy them, etc, etc You need to remember that every single technology goes through the cycle and I want to read you something which I saw earlier today which made me smile and and again affirm that I was in the right direction so Visa seemed like a disaster when it was first launched the kind of people who attack new things would have been all over it from From the Wikipedia article it says listen to it says they're talking about visa However, the program was riddled with problems as Williams who had never worked in a bank's loan department had been too earnest and trusting in His belief in the basic goodness of the bank's customers and he resigned in December 1959 22 % of the accounts were delinquent not the 4 % expected the police departments around the state were confronted by numerous incidents of of a brand new crime called credit card fraud Both politicians and journalists joined the general uproar against Bank of America and its new fangled credit card Especially when it was pointed out that the card holder agreement held customers liable for all charges even those resulting from fraud Bank of America officially lost eight point eight million dollars in on on the launch of Bank of America card But when the full cost of advertising and overheads were included the bank actually lost around 20 million dollars I mean if you change the word credit card there and you replaced it with the word blockchain you'd say hell them This is exactly what's going on here.
How Diane Cotter Discovered PFAS "Forever Chemicals" in Her Husband's Protective Gear
"One day i came across a story about a new jersey firefighter who had succumbed to a horrific incident where he was out of fire and his gear failed so we know what that means it degraded now what happened to his body was that he suffered steam burns that covered i'll be conservative and say over 70 percent of his body but i think it was closer to 90 percent and that horrified me to think that his gear failed at a fire obviously if he knew it was failing he wouldn't have worn the gear so i ran down to our basement and i pulled paul's gear out of the box it had been stored in and i had turned the basement light off and i took a flashlight and i shined it through the three layers the outer shell the moisture barrier and the thermal liner and i it was specific to look in the crotch area because that's where those reproductive organs are and i'm thinking jesus did his did did toxin seep through his groin area did his gear degrade and i found these coin size quarter dime nickel pieces of fabric missing you wouldn't know what to look at it because if you couldn't see that it was missing because the gear looked fine and then i ran back upstairs and i thought holy crap this is something wrong because i understood enough about absorption in the groin area to understand that that's that area that's so absorptive you know like your neck the tissues are very thin i had educated myself a lot on cancer by that point in time and i started looking then on the computer about the the fabrics themselves and i started to look at nomex and kevlar the moisture barriers and um i came into this 1999 safety alert that the international you know the big labor union had written to manufacturers demanding that they recall a moisture barrier because the moisture barrier had degraded so i'm thinking well what's what's going on why is the iafs sending out a safety alert because in that letter they had threatened to sue the manufacturers if they didn't recall this a moisture barrier that had degraded the companies had given pushback that they they weren't gonna you know do what the iafs said now and this was counter to everything that i had understood and loved about the manufacturers from reading years worth of you know fire engineering and firehouse magazine used to come to our house and in the paperback in the paper versions and i started to look at who those names were on there and i'm like why is this so strange this is a terrible feeling that the union back then had to fight to get those moisture barriers recalled at any event then i began to contact people about cancer and in the degradation of the gear and does that have something to do with this you know the cancer that my husband had i started networking with fire fighters laughing because i have to tell you one of the things i did i became so obsessed that i was messaging 200 firehouses a day and getting kicked off of facebook because there's a limit of people that you can i was a habitual offender as a spammer because i was saying do you know about this degradation in the gear and and i was sending emails to anyone i could think of that could help me track down this degradation i sent thousands of emails thousands i think at the last count there was 25 000 emails that i had sent out and the response i received was astounding because nobody could answer my questions but i did get a response from aaron brockovich who emailed and then called and she said diana i've gotten your emails and i just got a call from the fire chief in new hampshire who has 13 firefighters with cancer and i said that doesn't surprise me because every firehouse is a cancer cluster so we spoke and she said does the gear have pfoa or pfos and i never heard that language before and i went to the computer and i googled turnout gear pfoa pfos and i found a document from the european chemical association and from an industry site in europe discussing the potential transition to non pfoa ppe so i'm here in the united states can't possibly have that stuff because you know we're the united states of america they wouldn't do that to their bravest oh but i was wrong
"about 25" Discussed on Bloomberg Radio New York
"Now accounts for about 25 % of the economy and it's going to be very difficult unwind to up most definitely and they are also uh... good students of what happened in japan thirty years ago no out doubt and it's always a pleasure and occur in bloomberg global economy reporter joining us from washington dc here on on the dvd a look at markets on the way this is bloomberg bridgebank helps break through ideas actually breakthrough and remains dedicated to providing financial solutions to the risk takers the game changers and the disruptors those committed to making the world a better place bridgebank has been providing financial solutions to technology and innovation companies from inception to IPO and beyond for over two decades through its national network of banking teams and offices bridgebank a division of western alliance bank member fdic bridgebank be bold venture wisely your business landscape is ever changing there could be lot a more selling to come ours is too just getting some headlines i want to bring to our audience we also have the unknown of how much can financial assets take we have something else in common the small caps continuing to feel the pressure we seek out the it latest is business news wherever we are but deep drop in asian equities overnight u .s. futures also pointing to the downside bloomberg radio the bloomberg business app and bloombergradio .com bloomberg the world is listening adopt us kids presents what to expect when you're expecting a teenager learning the lingo goat g o a t acronym stands for this of all time as in spaghetti sandwiches for dinner they're my fave dad you're the goat you don't have to speak teen to be a perfect parent thousands of teens in foster care will love you just the same visit adopt us kids dot org brought to you by the u .s. department of health and human services adopt
"about 25" Discussed on Bloomberg Radio New York
"About 70 % of US levels. In China today, output per hour worked is about 25 % of US levels. So even with a shrinking working -age population, China can still grow quickly just by lifting productivity. But to do so would require pro business structural reforms. Whether that happens, your guess is as good as mine. Peter, we've just got about 20 seconds left. I want to get a quick reaction if I can on NVIDIA. Just when you think can't get any higher, they do. How much room to play in the AI rally? I'm bullish on AI. I think investors are making the same mistake that they made during the pandemic. They're thinking when they should be thinking exponentially. AI is on an exponential curve and that means progress is going to come quicker and more forcefully than most people are expecting. All right, Peter Berezin, Chief Global Strategist for BCA Research. Thanks for joining us. More in a moment. This is Bloomberg. Bloomberg Radio on demand and in your podcast feed. On the latest edition of the Bloomberg Week Business podcast, a conversation with Business Week national correspondent Josh Green on his magazine story, Chris Christie is absolutely, totally 100 % anti Trump for now. He was fascinating from of an anthropological standpoint because I went down to South Carolina with Christie. You know, Trump is very popular with Republicans still. And so I was expecting a lot of kind of Trump MAGA people to be in there shouting down Christie and all sorts of confrontation. And instead, what I found was just the opposite. It was almost like a group therapy session of
"about 25" Discussed on AP News
"News. The top movie at the box office this weekend? Dad told me you found something on a train during the war. A dial that could change the course of history. But Indiana Jones and the Dial of Destiny did not attract the crowds that were expected. The final installment of Harrison Ford's iconic archaeologist brought in an estimated 60 million dollars in North America, well below estimates in about 25 % of its production budget. I am the spot. Second place goes to Spider -Man Across the Spider -Verse which added another 11 .5 million dollars. Monday Novak Djokovic begins his pursuit of a fifth consecutive Wimbledon championship and an eighth overall win. He'll also be attempting to claim an open era record 24th Grand Slam trophy over the coming two weeks. I'm Jackie Martin, AP News. Thank you for watching. News is Fox News hiring cyber rock stars to help our customers advance national security. We're hiring cyber threat analysts, engineers and support specialists. Leidos offers sign -on bonuses, enhanced benefits plans and is consistently ranked as a best place to work. Visit Leidos .com to see why. listening to the AP radio network for News news on the go. Try the AP mobile app. Get breaking U .S. and international news from the world's trusted most news source plus stories from more than 800 local media
"about 25" Discussed on Northwest Newsradio
"About 25 before the hour, welcome back to America in the morning 100° yesterday at Yuma, Arizona, minus three at Peter sinks Utah, the nation's high and low, or on the forecast from AccuWeather dot com, meteorologist Carl babinski. Much of the southeast got soaked by heavy rain this past weekend, especially in Georgia and the Carolinas you're probably well aware that the masters tournament was delayed by rain on Saturday before they completed it Sunday, which was a sun filled day. I believe Augusta, much of Georgia and the Carolinas will have plenty of sun again today and highs will be mostly in the 60s and the leading edge of some cooler air in Florida, a cold front will be getting hung up over northern parts of the sunshine state, and that will be a catalyst for multiple showers and thunderstorms today. Not only will there be some beneficial rain in Florida, but also wind advisories have been posted for the greater Jacksonville area that could be gust of up to 45 mph this afternoon. Solid area of rain has been occurring in the Pacific Northwest lately. We do expect showers to continue today near Seattle and Portland. These places could pick up an additional quarter of an inch of rain and highs will be mostly in the upper 40s, snow in the Washington cascades, which tonight could accumulate a general three to 6 inches. In the northern rockies and plain states, it will be relatively dry, but we'll have to keep an eye on rivers and streams as a warm surge occurs. There will be a lot of melting snow, and that will lead to rises on area rivers and streams. It's getting to be that spring flood season that we keep such a close eye on and we will be for the next few days across the northern tier of states. Meanwhile, in the northeast, a high pressure system continues its dominance today will be milder and cities like New York and Philadelphia, temperature should reach the mid and upper 60s. It won't be quite as warm in Boston, but still pleasant with a light wind. And in the Midwest, it will be warm with temperatures mostly in the upper 60s and lower 70s. I'm AccuWeather dot com, meteorologist curve with vinski. I'm John
"about 25" Discussed on WTOP
"Impacted in prince George's county a hundred Pepco BG and a in first energy customers in Montgomery county are still reported without power. Lead forecaster with the national weather service office in Sterling Virginia Brandon Rubin oster says the outages happening now should hopefully he says be the last. It's mostly residual effects because we actually had some severe storms moved through southern Maryland and portions in northern and northeastern Maryland. So there's probably some residual power outages from those issues due to down trees. The largely speaking the winds have dropped to about 25 to 35 mph, so we're not anticipating any additional power issues. We want to know what's happening in your area, you can share storm photos and more at WTO P on Twitter and also on Facebook. Some may be lacing up the running shoes and warming up those muscles getting ready for the cherry blossom ten miler this morning that starts in a little bit. Meteorologist Lauren ricketts says if you're going to go to the race, bundle up here this morning. It is going to be incredibly chilly for the cherry blossom ten miler if you're getting out there this morning, make sure you bundle up. The winds are still going to be about ten to 20 miles an hour gossip to 30 miles an hour throughout the entire race. Temperatures will be in the low to mid 40s, but wind chills in the 30s. Now lots of sunshine. So don't forget that sunscreen. I'm meteorologist Lauren ricketts WTO P news. Runners start taking off and just about 25 minutes now from the Washington Monument grounds and that will be the cherry blossom ten miler stick with WTO
"about 25" Discussed on 600 WREC
"Conditions where you need to grow, you need to make sure you get enough nutrients. Those are places where not going to go want to go very long. In fact, it doesn't mean you need to eat all the time. But, you know, going wrong is not recommended. The other major thing is if you're underweight, that is, if you don't have If your body mass index is, for example, less than 20, you know, And you know the body mass index about about 25 normal down below 18.5 is considered underway. If you don't have the body fat stores, and you shouldn't go that long, right? It's just logical that you shouldn't be fasting for long periods of time. But other than that, that's about it. Almost everybody else. Hand fast, because, remember our bodies have that ability to store energy. It's sort of like your refrigerator yet you put food in the fridge so that you don't have to go to the supermarket three times a day. Like that's the same thing as our body. Does. Our body put some of the food the food energy into body fat, So when you don't eat, it will just take some out. That's all. So the whole I ideas that most people can fight. That's what brought us to survive for thousands of years. Otherwise, we would never be able to survive. You know, a period where where we had no food available well, and you talk about in the book that when we were hunter gatherers, we didn't have food at the ready in the drive through. It was work. We ate more like animals of the wild, and I want to get to that in just a moment more with Dr Jason Fung coming up from Portland to Albany and all Eight cities in between. So why Michael Barry show is nationwide. Register.
"about 25" Discussed on WNYC 93.9 FM
"Wind noise. You know, as the planes flying through, I guess it gets can be kind of noisy in the cockpit with the wind about 25 minutes into the tape, the counterattack begins. Hijacker says Is there something a fight? They want to get in here? There are some guys all those guys. Then passengers and crew began to be picked up on the microphones. There are sounds of brutal fighting. Someone yells in the cockpit. If we don't we die up down up down. A hijacker says This is the point where the plane begins steep dives and rolls from side to side as the hijackers try to stop the attack. More voices. Go! Go! Move! Move! Debbie Borsa was paying attention to every sound for me. The thing I'm listening for is Dior's voice. You know, I was listening for her voice. Ken Nacke, a Baltimore County police officer, was sitting next to his sister Paula. In that auditorium. He was straining to hear their brother who the family all called Joey. Kenny had his eyes closed to better focus on listening and then Paul and I immediately just turned our heads at each other at the same moment. And looked at each other and just kind of mouth. The words that's Joey. You know, it's not like I just heard it. It was odd that we both turned and faced each other at the same time. When that part of the take was playing. For Kenny. There was some small comfort and getting confirmation that Joey was part of the revolt. Another thing Kenny took away from listening the passengers and crew or panicking The times that you heard the voices of the passengers and crew. The amazing thing for me was The columnist of their voices. I didn't send fear. You know me? I kind of just sense determination on their part when you heard their voices, the final moments of audio or commotion, fighting and what sounds like a struggle over control. Then sudden silence, actually. The end of the tape was harder than, uh, Anything else because I believe they were able to get inside the cockpit. And I think in my mind, the last word you heard was Pull it up. Pull it up. And then crash. No boom. No, nothing. It was just like the end of it. That end for Debbie Borsa was hard. She never heard Deora on the.
"about 25" Discussed on X96
"The name gene inside the jewelry store. I think it's just 9th and 9th Book of music. Do you know? So these you? Oh, So you know the place. They buy flowers from you sometimes. Yeah. Well, Dave, they said they haven't They haven't seen you for a while, they said. I mean around. Well, okay. Hi. You guys better work it out. That's all I can say. Uh, Dave, the flower guy. He's the man you see around town, he most lawns. He sells flowers. He drives old tractor with a trailer and he's a hardworking guy, and he's the one who we Decided. About 25 years ago, we decided Dave would select boner of the week because Because we didn't want to do it. We we? We didn't feel qualified. So, Dave, we only have four candidates this week. Are, you know? Are you ready? Yeah, man. Okay, number one from Tuesday. There is no functioning intelligence at work here. That's Larry Elder. Larry Elder, who's, uh, trying to run for governor of California and the recall election, who made an appearance on the radio and claimed that The former the descendants of former slave owners. Are the ones who should receive reparations of some kind from the government money from the government, because, uh, ending slavery also meant that they had their property taken away from them. Boehner, candidate number two from Wednesday. I can't fathom why anyone It's Alex Jones and I just can't fathom why anyone Would listen to Alex Jones rant on and on about Joe Rogan and and I ever met in and and I would say, Go online.
"about 25" Discussed on MyTalk 107.1
"Bar. Yeah, she's in her twenties. She's in her twenties, so interesting. That it's being position that she's just story. Lofland little girl. Yeah, Here's the Yeah. Here are the headlines really quick. Olivia Jade reveals how Lori Laughlin is reacting to her dancing with the stars casting And then the next one is Olivia. Jade, says Lori Laughlin is quote in total mom mode. So yes, yes, that is all making sense. Let's move on to our next celebrity gossip. This permanent a list actors who played an iconic character wants to quit acting just because she's tired of the promotional game. She hates talking to the press, and after several decades of it doesn't want to do it anymore. As it is, she turns down as much as she can, without making her employer's hate her. That was a lot. Okay. So what are we? Who are we? It's an iconic character, a permanent a list actress Okay, who is famous for playing an iconic character. A list iconic character like she's only known for the character or no. She's known for other things, but recently known for the character or is this from a long time ago, the character was from about 25 years ago. God, but she can't shake. The character will always know her as this character, but she's TV movie. A TV character was like Jennifer Aniston. Uh Hmm. Yeah. Oh, so Jennifer Aniston wants to quit acting just because she's tired of the promo game. Jennifer Aniston hates talking to the press. And after several decades of it, she doesn't want to do it anymore. As it is Jennifer Aniston turns down as much as she can, without making her employer's hate her. Wow. That's interesting. That's an inside. Look. Okay. Today, Jennifer Aniston's awkward TV interview leaves viewers cringing. What was it for you? I want to know more about that. She's doing promo for Season two. The Morning show. Yes over on Apple TV. Plus, that makes sense Mhm, and apparently, she was doing some press. On something called the one show over in the UK and it looks like things got a little awkward haven't watched the clip myself. But she did give a face that said. I'm not here for this. Oh, God. This is like the worst, too, because this just feeds the narrative that you know. Especially in shows like this, like it's the least you could do to actually promote what you're there to promote. Do it with a happy face, because that's your job, right? It does make me wonder what line of questioning. They You know, wandered down. Yeah, that put her in that place. Not that it's their fault, Right? Like your job as the actor is to feel that stuff right? Because you're there to promote something, but I am curious like what it was. That was awkward about it. I'll be watching that later. Thank you. Yeah, I A I'm dead.
"about 25" Discussed on WBUR
"Starry sky as regular as possible because they'll never failed to want to act on it after seeing it, So what does it actually take to look after your night skies in practical terms? Dan gave me a tour of the nearby village of Britain, which is also in the dark Sky reserve could see the lights up here. Britain has actually been really active, looking at the lighting they've got, and they've actually got really good street lighting. That is the right kind of color, The right kind of direction and things like that. Have a massive amount of difference. So these new nights these are kind of like Heritage style. Yes. So it looks like one of those sort of old fashioned like that you would see in nine year or something. Yeah. The old coach House kind of nights. The important thing. The big differences is the old style. Had these big glass bottoms he used to hang down about 8% of the light went up into the air. That's just waste like because it's not doing anything. You'll see with this one. Actually, the led itself is actually tucked up in the top of the the lights had no light is going up into the air anymore. And all that, like this is going to come down. Yes, is what you want. They're already DS, which is the light emitting diodes just more efficient. They last longer. They're easier to replace, and you can control them. So lots of good reasons to use them. Now leads are actually a huge revolution, and they're replacing all the light bulbs across the planet. But they are a double edged sword when it comes to light pollution because on the one hand they're highly controllable, so it's easy to turn them down when you don't need them, but because they're so energy efficient, people are sometimes tempted to make them brighter or use more of them. Another huge problem with led is that they often give off a lot of blue light, which is particularly damaging to the night sky, as well as to human health and to wildlife at night. So baritone Street lights used leads with warmer tones instead. And the best thing about the lights here, so they're going down to about 25% about midnight. You can measure it when you're out in the down to the like meeting, you can see a little blip. The measurements. When the sky.
"about 25" Discussed on KGO 810
"Call us at Triple A plan. Rick That's triple Eight plan, Rick So, yeah, that does sound a little scary, doesn't it? But her point Woz, you're putting ideas into Congress is head Don't talk about it because it's scary. I'm afraid she's missing the point. And perhaps you may be a swell. I've been talking about this issue of social Security for years here on this program, and it is why I went to the trouble of creating the funding our future coalition. We need to understand what is actually the fax the facts of the following Under current law If Congress takes no action if everything stays exactly the way that it is Social Security retirement benefits are going to be reduced about 25%. In as little as eight years. This is the law. And this has nothing to do with my trying to scare anybody. It has nothing to do with fearmongering. It has nothing to do with planting ideas into Congress, his head, if any idea is going to be planted, it's to get Congress to do something about it and fix it. We need to understand how Social Security works. It's really very simple. Everybody who's working pays taxes into Social Security. Social Security Administration takes that money and distributes it to America's retirees. So the money you pay into the system doesn't go for your benefit. It goes for your parents and grandparents benefit those already retired the generations behind you, your Children and grandchildren their social Security taxes will pay for your benefit..
"about 25" Discussed on 600 WREC
"Call us at Triple A plan. Rick That's Triple Eight plan, Rick So, yeah, that does sound a little scary, doesn't it? But her point Woz, you're putting ideas into Congress his head. Don't talk about it because it's scary. I'm afraid she's missing the point. And perhaps you may be a swell. I've been talking about this issue of social Security for years here on this program, and it is why I went to the trouble of creating the funding our future coalition. We need to understand what is actually the fax the facts of the following Under current law If Congress takes no action if everything stays exactly the way that it is Social Security retirement benefits are going to be reduced about 25%. And as little as eight years. This is the law. And this has nothing to do with my trying to scare anybody. It has nothing to do with fearmongering. It has nothing to do with planting ideas in the Congress, his head, if any idea is going to be planted, it's to get Congress to do something about it and fix it. We need to understand how Social Security works. It's really very simple. Everybody who's working pays taxes into Social Security. Social Security Administration takes that money and distributes it to America's retirees. So the money you pay into the system doesn't go for your benefit. It goes for your parents and grandparents benefit those already retired the generations behind you, your Children and grandchildren their social Security taxes will pay for your benefit. This is not a pay as you go system. This is current workers paying for current retirees. But at the moment their arm or retirees receiving morbidity Fitz than are being paid into the system by American workers. That's a shortfall. Well, where is the Social Security Administration getting the money to make up the difference if they're paying out more in benefits than they're collecting in taxes, where they're getting the extra money? From the Social Security Trust fund. You see, For decades, American workers were paying Maurin to the system than the system needed to pay out in benefits. But now there are so many more retirees living so much longer and relatively fewer Americans working. We aren't collecting enough in taxes anymore to pay all the benefits so the Social Security administration is tapping into the trust fund. And if the current pace that trust fund will be depleted by 2029, according to the bipartisan policy Center. When that happens, no more trust fund than the only money that retirees congrats is the money being collected from taxes, and that's about 25% less. Then the current Social security benefits. You need to understand this A. So you can tell your representatives in Congress to fix it and be so that you can plan your personal finances. And the assumption that Congress doesn't fix it. If you're entirely dependent on social Security for your retirement income, you are at risk of a 25% cut of your income in his little is eight years. That is why we're encouraging you to come talk to us Engage with us now on your retirement planning so that you don't have a crisis when Social security benefits get cut a years from now. Because I don't know about you, but I'm not so sure how confident I am that Congress is going to fix it for the moment. They're not even talking about it. How can they fix something that not even talking about so? We're not trying to scare you with this ad. We're trying to inform you and warn you so that you could take action before it's too late. I don't know how many other financial advisors are going to the trouble of talking about these major policy issues affecting the country as a whole, because let's face it. Ah lot of rich people who have a lot of assets and income don't really care about Social Security very much. It's not a big part of their money. But for lower income Americans, lower income retirees who are entirely or almost entirely dependent on social Security. This is a real crisis and oh, by the way for those rich folks who say they don't care because they have plenty of other assets and income. Guess what happens when Congress does decide to deal with this? They're going to raise taxes and who are they going to raise the taxes on the people that assets and income? In other words were all in this together, and that's why we're raising the issue, bringing it to everybody's attention so that you can deal with it because the sooner we deal with it, the easier it is to resolve. And that's why we talk about it. So no, not trying to scare him A dear. I'm not trying to put ideas into Congress, his head at least, not any ideas we don't want him to have. Instead, we're recognizing this is a huge issue facing America. It's getting worse as time goes on. And we need to address it. That's the focus of my work with the funding our future coalition. It's the basis of my solution for retirement income security for everyone, and it was a big part of the focus of the round table on the future of retirement at the Milken Institute this past week. One thing I can promise you. I will continue to be working on this issue for years to come until we in fact, provide financial security for all Americans. You're listening to the wreck. Gentleman show. I'd like to bring you some of the latest advances in the field of exponential technologies. This one from the American crossword puzzle tournament. It was held last week. 1000 participants all trying to be the fastest to complete a crossword puzzle. The winner. Was artificial intelligence. Yes, The new software computer program has defeated all the human contestants. Computers have already defeated humans that checkers, backgammon, chess, the game, go poker and jeopardy. Now computers are best at crossword puzzles and DARPA, The military defense agency, focusing on developments and innovation has developed a new form of artificial intelligence. That can detect sarcasm. It's called the computational simulation of online social behavior, and then allows the U. S military to know whether the Russians are serious or not. When they say they're going to nuke us, you're listening to the record. Ullman Show Triple Eight.
"about 25" Discussed on Bloomberg Radio New York
"About 25%, though so far this year. All right, Charlie, Thank you so much. So Mother's Day on Sunday and I got to say when I worked at the Wall Street Journal reported Dow Jones. We have a tradition for our show. That aired on Mother's Day, and we think our moms in the credits in it was kind of just a very, very sweet tradition. Another tradition at the Journal was always always checking the column of our next guest to ran. Lub Land was the Wall Street Journal's career columnist for many years. Also editor covering workplace issues from the C suite on down Pulitzer Prize winning journalist to still a contributor to the journal author of two books about female business executives. She understands this so well her latest book, Power Moms, How Executive Mother's Navigate Working Life. And Julian joins us on the phone from suburban Philadelphia. Joanne, So nice to have you here with us. How are you? And what's what's the last year been like for you? Well, thank you very much for having me on the show. Well, the last year has been sort of anticlimactic for me because I turn in the manuscript for this new book, literally on the day before America shut down. And I had been a hermit for the prior nine months writing the book, and I thought, Oh, great. Now I can go out and party and socialize and take some trips and and how in the world kind of turned on its head, And so I've been doing what everyone else has been doing, which is basically, you know, quarantining in place. I've Taken flight twice in the last year to visit my out of town grown Children and grandchildren, But that's about it. Yeah, interesting. And I do wonder. How are you thinking about women right now? We We talked about some data earlier. That showed that women dropped out of the U. S Labor Force in April for the first time since January. It was I think initially, we thought Joanne, the pandemic would be may be helpful for women, you know, finally giving them some flexibility and how they worked. And took care of their families. And yet we're finding out that that's not the case necessarily. Unfortunately, that is indeed correct and infect. The Wall Street Journal did an analysis. Of US data on Lee a week or so ago, And they concluded that there nearly 1.5 million fewer working mothers in the work force and before covert 19 And this is especially hitting women hard, who have school age Children. They're having a difficult time returning to work, because, frankly, the balance of power in the home As much as has shifted somewhat. Dads have certainly picked up a bigger share responsibility. While everyone's been working from home. The burden is still squarely on Mom's shoulders, particularly when it comes to school age Children is that even for younger generations of couples that it's still the case. Well, overall, That's what the studies I've seen have suggested. But certainly in the women that I interviewed for the book, I saw a marked difference between generations for this book. I interviewed women from the baby Boom generation my generation to look at the first wave of women who had gotten an executive level roles in business and also had kids. And then I compared that to it, somewhere sized group of women who were millennials and Gen Xers anywhere from their early 30 Chill early forties altogether. 86 such women plus 25 adult daughters of the Boomers, and I was looking to see what had gotten better. What had stayed the same and what had gotten worse in terms of how they navigated work and life. Into your point. Yes, I did see that. There were improvements among the younger generation when it comes to sharing the duties at home, But we haven't gotten all the way to the you know, old line yet know exactly what's interesting is talk to me a bit about your book. What did you set out to do? You've written books before. What was your hope to do with this? Well, my hope was to explore just that, because my first book, which was called earning it hard won lessons from trailblazing women at the top of the business world looked at 52 high ranking corporate executive women, all but one of whom were baby boomers and 80% of those women. It turned out, had Children. Among those who have become public. How many CEOs the proportion was even higher. So what was their secret sauce? Well, they were Trailblazers. They were the pacesetters. They were the first frankly of their generation to get into the executive suite. And in many cases did so while having Children and it just made me wonder have things changed all that much for that younger way. The women who in more recent years have become executives after having Children or having Children when they became executive. And when I found was that definitely things have gotten better. Think of one reason is because people are Entering into relationships was much more supportive Spouse is whether it's a life partner or husband or, in one case of wife. They're also our money, more supportive word places. We have many more women in positions off high level jobs, who can act as role miles and sponsors and mentors. Thirdly, we have seen huge advances in technology, and it's why we've been able to work from home for the last year. Those of us with white collar jobs who conduced so Joe and sit tight for a second, I'm going to live in a world of national news, but we'll come back and continue the conversation cause I know you spoke to some really well known within high powered women, and I want to get to some of those conversations were to come back to Joanne Liu Berlin Wall Street Journal Contributor Her new book, Power Moms How Executive Mother's Navigate Work in Life. In the meantime, back to roll the National News,.
"about 25" Discussed on News Radio 920 AM
"Let's go to our brushes with death Hotline and Jeremy is in Jamestown, North Dakota. Jeremy, Welcome to Coast. Good morning. Little Richard. How you doing? I'm well yourself. I want to tell you something that nearly took my life 17 years, two months and 85 days ago. All right. What happened? Um, I was driving my curio from your lead from Casper to do let to me with some landowners to talk about drilling coalbed methane wells of Atlanta. I was heading up an icy hill. A Ford pickup started five. Down the hell up. Meet the Ford was clear. Crushed my lane hit Mikey Real. Had on my shoulder and about 25 miles an hour. The air Bagan seatbelt to my curio did not work at all. Immediately. I was in a coma for 2.5 months when I will go from the coma. They told me you broke both emerge shattered both kneecaps. Broken foot almost got my last piece of Terra. And injured my little brain. My Oh, my Who would have months You were in a coma. Do you have any Any memory while you were in that coma. Um I woke up from my coma with my now ex wife there by my side, and it was my Impression. When I woke up that we were walking up my own trail in we're almost at the Pete and all of a sudden of bunch of boldness started coming down the Well, when I pushed my accent Mountain crevice, I was hit by a bunch of boulders and off the clip. So that's what you thought happened to you after you awoke from your coma. When I woke up, I.
"about 25" Discussed on KFI AM 640
"So she said she got to skip the line a little bit and was in and out in about 25 minutes. But I asked her about the skeptic. It's what would she say to anyone that's still worried about taking the vaccine? Here's what she thought. I think it's important for our country and it's important for our mental health. As well as prevent, you know, physical health. I don't people are fearful of A lot of things, and nowadays we don't know what's right or wrong. What's the truth? What's not the truth? But this is the right thing to do. And I'm just very happy to The fortune to be here the first day. The science makes all the difference and I've taken a lot of here out of my life. I mean, I might be frightened of getting a coded shot, but I would not want to die with coded and then a lot of people said sort of the same thing. That's what I was hearing today. Yeah, alright. And so again, they're setting this up in which part of Disney dosing lands. Huge the plants that The toy story parking light. I think you interviewed all the information you can find on this Athena app. But for people that may have trouble getting the APP again, officials pointed out that this is the group that's allowed to go now. The 65 older group may have some issues with going on the app. Some of the guys I talked to said they had to have, you know others. Log on for them. But if if you don't you can also go toe. Oh see Gove dot com. Oh, see god dot com and it's really easy to navigate your way to the app and get more information on where all this stuff is hooked up. I see. Okay, all right. And and so you have to be in the first group then. I mean, you have to be, you know, 90.
"about 25" Discussed on NewsRadio WIOD
"We actually don't charge anything extra for creating these notes for our clients. It's just part of our you know, annual fee that we charge her clients. It's a lot more work than creating a cookie cutter portfolio. But we don't mind, you know, because we're not concerned about how much work that we have to do to create a good portfolio. We want to make sure that our clients get the best portfolios of anything. It would be much easier for us to stick our clients in a cookie cutter portfolio and not deal with his nose and having to bid them and replace them if they get called. But when people want fixed income, we can give that to them more than you know, most other advisors. They're not using these kinds of notes, right? It's very, very hard to generate seven or 8%. With a lot without a lot of risk. And this is one of the ways that I think is very underappreciated, though he agree. Steve Radio Keith. I had a client the other day, who asked me what happens when the note gets called, and I simply said that it's my job and our job to find you. Another note to replace it. Right. Sometimes the banks call these notes. Don't wanna know kids called you Get your money back. If sometimes that we sell notes at a discount if we can get him in a discount, and you get more than your money back, Plus, you made the interest for the time that the note was in your possession, So you know these were really, really good ways, too. If you need a lot of income. More than you want to get for on Treasury's, You know, you think about it. What is the risk of losing money on the structure? No. Well, obviously, it's subject to the credit risk of the issuing bank. So these are big banks. You know, we're using major banks. You know, Once you heard of Citibank, Goldman Sachs. TD Bank Morgan Stanley. They're They're all issuing these kinds of notes. And You know if you are comfortable with that they're going to be in business. And you feel like that's less risk in the stock market going down, then you know, this could be something you might want to consider. If you want to get on her note list. By the way, we have no. So we create a lot of people like Whoa. You know what they look like? What are my options If you want to see a list of our notes Text the word profits to 474747 text the word profits to 474747. So you know these those could be used as a also was a substitute to growth, right? You know, Sometimes people see No, I wanna invest in stocks for growth. But when you get growth, you're just getting, you know, money back more than hopefully then you put in. Let's say you're convinced that now that we're getting vaccines that we're going to have a good recovery in the economy and some of the beat up stocks, maybe some of the retail stocks that people stopped going to Could come back right? And you're nervous. Like what if they come back? What if they don't come back as much as I think, well, one of the ways to do that is to use A new income. No, we just had an interesting note against Nordstrom's North Simpson's department stores down about 25% for the year. Ah lot of the other department stores of going out of business. So there's less competition and recently North was actually has done very well because they just announced really good earnings based on their online sales. So that could be a nice recovery play so you could go out by Nordstrom's. Or you could buy a note lengthen Nordstrom's with a 50% barrier. That means at the end of three years, you get your money back as long as Nordstrom's isn't down 50% from where it is today. In the meantime, you make 17.5% a year. Why you hold the note. So if you're comfortable making 17.5% where the Nordstrom's goes up or down, you just want to make us 17.5%. Now the northlands goes up 20% a year you're only making 17.5 because of 30 a year. You're only making 17.5. But if it doesn't do anything, you're still making 17.5 if it goes down 10 or 20%, or 30%, or even 40%. 45%. You're still making 17.5. So these are some very, very interesting notes that you could use for a variety of purposes, either as a substitute for growth. Or as a substitute for income that you might be making other places now. Obviously, there's some other things we can do to try to create more steady income. We have some clients that Aaron Private mortgages, you know, they lend money. They're secured by real estate. And they make 70% a year for one or two year mortgages. We have private credit created by large financial institutions that lend money to very prominent, non public companies that are doing very well but one of expands And those airways to make 70% a year on a very consistent basis as well. So many of the strategies can provide very high levels of income like we stated much higher than you get. And many of the traditional investments were used to when you're trying to create income in this type of interest rate environment. If you can create high levels of income, it can career Lee help stretch retirement dollars. Speaking of income, it's very important have a written plan of how much income you can reasonably take from your portfolio and what accounts to take from and how to minimize taxes on the plan. One of the things we do for our clients is creator a written complaint that shows exactly how much income you can afford to spend each year without running out and how to minimize the tax impact for you and your family. Now we normally charge a fee for these types of plans. But if you call us within the next 30 minutes and 866 wealthy that's 866 wealthy. Simply leave a message and say You want to take advantage of our offer for.
"about 25" Discussed on WBZ NewsRadio 1030
"Now president elect Biden today also said he considered Vermont Senator Bernie Sanders to be serving as the role of labor secretary. But he says they mutually decided not to go that route as they did not want to disrupt the Democrats. Control of the Senate. It is 603 time once again for traffic and weather together. Still a bit tough out there. Subaru retailers of New England all wheel drive traffic on the threes. Maybe not a happy Friday. My king. Well, we had our moments earlier in the day here, Nicole, But things have certainly quieted down within the last 30 minutes or so. Here you can judge for yourself. The expressway South is good coming out of the tunnel. Slow going mass have to self pay. But then you pick up speed. I've got 16 minutes. Boston to Braintree for a Friday night certainly could be worse. North found his slow from Braintree up to East Milton. It's really jammed up before granted, have Passing upon sits circle and then you're good up towards the tunnel. 1 28 fine. Coming down through need him and dead. Um, and routes. 24 95 south are both good coming down from 93 up to the north. Through one's always doubt through Saugus was just a while ago. We had a problem up up after Essex Street sold on 1 20 eight's good. Won't them all the way up into Danvers 93 is clear. I've got 34 minutes from the second bridge up to 4 95. Downtown store. Oh, Dr Eastbound Backed up a little bit coming in to leverage Circle. Ei it slow on the Leverett up, Brant. But when is it not? The lower deck of 93 is wide open. The O'Neill tunnels are good. So is the Tobin Bridge and the Sumner Tunnel. My king. Deputy busies traffic on the three. Alright, we'll get back to you in about 10 minutes. See if things are any better there, But when it comes to the forecast, looks like we're gonna have another beautiful clear night out there tonight. Perfect for stargazing. If you bundle up quite a bit and bring yourself a hot drink. Low tonight about 25 downtown. I'm right by the coast. We got some teens if you're north and West,.