20 Episode results for "Dow Jones"

Dow Jones CRO Josh Stinchcomb: Platforms are finally valuing (and paying) newsrooms

Digiday Podcast

31:20 min | 10 months ago

Dow Jones CRO Josh Stinchcomb: Platforms are finally valuing (and paying) newsrooms

"Marketing surprise surprise sharing attack speaks with marketing leaders particularly those with new brands in recent weeks charene sat down with the CO founders of a brand that makes shoes before we get to this week's interview. I want to encourage you to subscribe to one of digitize other podcasts and that is making marketing every week I speak to leaders in media with this podcast and in making data that we have is digital advertising gold and I think this has been the year this past year where we finally put the focus and the investment to create Welcome to the digital podcast really interesting differentiated digiland products and we're seeing record growth as a result so that's you know sort of a growing up I think of the journal the data that we have we had one person in Ad Tech when I started just over a year ago now a sizeable team whose entire job of our content as in conflict with the advertising business but actually see our businesses selling scarcity selling access to highly engaged oversee advertising and marketing services for our media properties which are the Wall Street Journal Barron's Market Watch financial news and a clear bright spot and I think there's more upside for us in the short term because again we're we're scratching the surface of what's possible with offering highly accurate audience segments built off our first party data because of our membership business we had a product that we launched this year called fee France that is quip that podcast is making marketing subscribe now wherever you listen to your podcasts. The Dow Jones Josh and I discussed what revenue diversification looks like Dow Jones with strong subscription business data events and content marketing services are is is to create interesting digital ad products off the back of our first party data and what's an example so well in addition to just Josh on the podcast thanks for having me it's been a while it has been a while so explain exactly what's under your re-met sure so I digital ad business is growing growing shrinking it's not shrinking okay the opposite of shrink yes exactly right getting bigger so that's admittedly I think the journal and the brands have been a little sleepy on the digital ad front but the actual underlying resources that we have the advertising goal was just a mass as much scale as possible then you could see a paywall and you know sort of blocking of access to some asked him Brian Marcy before we get started I wanNA give my usual reminder that you should become a digital plus member but I have an extra inducement digitally plus gets you unlimited access due to its model and we also delve into life after the third party Cookie Hobie enjoying we also give digital plus members exclusive research and newsletters and a lot more for a limited time go to digital dot com slash subscribe attic which was a contextual targeting tool actually built off another product that Dow Jones owns called Fat Tiba so we've built a patented first professional audiences and that's exactly what we're building through our membership business okay advertising business a little challenge these days Yeah Market Watch so we can offer our advertisers the opportunity to be adjacent in real time to incredibly specific themes in terms a that sits on top affect Tiba which is a product that ingests thirty three thousand new sources from around the world million articles a day in this algorithm it creates a taxonomy of of themes and get smarter and more nuanced every day then we apply that taxonomy to every new piece of content that we publish on the journal or Barron's okay I'm on the bright spots with the good stuff first thing is I think our digital advertising offering sort of coming into its own who are content all of our content and even working on a member bonus version of this podcast that should be next year we're not quite sure how that will look but it will happen I promise you mean uh-huh media companies so the market is demarcus challenging that said we have some really interesting bright spots in the AD business contents it's much more sophisticated than keyword targeting for example and that's been sort of the hit of the year in Digital Advertising I think we over delivered on our expectations he's podcasts at checkout and you'll get thirty percent off that's thirty percent that's podcast checkup try this week I was joined by Josh thin comb the Global Sierra companies that have the access to this much quality content coming through Activa and and certainly no one has is this exact sort of machine learning algorithm we've patented it and you know we're finding that it's again not only incredibly sort of popular with advertisers by about three acts in the first year and that's something obviously that average has can't get from Google and facebook I think you know there are very few if any it's performing much better than almost any other targeting Approach that we take so on the targeting front obviously the pendulum swung very hard in global business. Not The subs business tell me why these are not an opposition what you're doing and then what what the subscription side is yeah I mean I think if if the I think that creates you know some of the brand safety issues we've seen people just chasing audiences said forgetting about anything else so I think there's a sort of a a rationalization that it does but I I think there is some truth in it you know number one audience targeting doesn't take into account in many instances context change is going to be you know the inability to establish identity at scale across the open web you know as as we enter a world with against amounts of First Party data and can establish some kind of identity on their platforms and and and our properties are in the enviable position of having around all right well you know I might be getting purser thinking I'm getting a person that I want but where did I find them and what's the context of it so that's the first thing the second and probably bigger from an audience targeting perspective you know we're going to become increasingly I think in rarefied company in terms of media companies who have I cookies and more restrictions on third party data so people are going to look for in my mind sort of one of two things one publishers who have significant pretty significant sort of logged in consumption base where we have a big digital membership business we know a lot about the people that are coming to our sites so party data at some amount of scale secondly a are the other the other way to kind of address this this coming cookie apocalypse as it were is to look for proxies towards audience targeting tell you what happened there I don't feel like Holy Shit really and you know the use of contextual targeting you know come back into vogue think broadly will be the winners of this this cookie pacalypse we're not the only ones working on products like this so I think you're gonNA see again focus on publishers who have a lot of first party data and I think you're going to see audience targeting which is contextual targeting right back to where the I guess the web started to some degree and I think contextual targeting tools are becoming more sophisticated like the one we rolled out we've been talking about it swing back to context I mean are you actually see in this in the market hopeful no I I you know I think it's it's in the interest of publishers there's a lot of things going on right now to limit the use of third party cookies in third party cookies have been the workhorse right so that digital advertising was built built on the back of among the sort of non walled garden options I think you will see sort of winners and losers you know and and winners will be the one so this will help them and you can say all right what helps them sort of hurts the rest of the publishing industry and in aggregate that may be somewhat true but we've got enough scale on which to apply this targeting to be a really interesting option for reaching sort of the the business elite and our brands are are at an all time high I'm happy to say in terms of paying members but also total digital reach so you know given the audiences we cater to they this will help them you know th they have identity at scale yes oh they're not as dependent obviously in some cases not really at all dependent on third party data who do have a lot of valuable first party data that they can bring to the party needs some scale scale yeah absolutely right there's sort of internal motivations are but you know we are seeing better commercial opportunity coming from the platforms than we ever have had I also think you know consumers are demanding more of them in terms of of what they read on those platforms and wanting to know that there's quality vetted or they are being forced to value so quality journalism and recognize they have to pay for it in some way so I think the relationship between the platforms and and Oh you know I I like to think we'll be among the the winners in the sort of non walled garden world but it is gonNA come down to sort of a half and half knots in terms of First Party data you've you know content creation support partner but also in the on the ad sailing side with you know collaborative sales teams in good terms and so you know we've we've done a couple of big deals this year with platforms I think the general environment is one where they are valued cricket or is that just something that's going on like you know at this really high level yeah no I I think it already is benefiting US actually you know I can't speak to what all in brands sort of marketing life in the following way one I can help them better understand time what's keeping them up at night a lot of which I can infer from what they're doing on my platforms and how they're using my products actual information on there it seems like apple is sort of like the favourite platform apple is is apple's very publisher friendly because they're not quality publishers is better today than it's maybe ever been and that could be a result of some of the scrutiny on them instead of doing it because they have to but let's talk about how you stitch you stitch the value proposition together because I mean you're you're coming to the market with a lot more than just yeah you sort of nascent advertising platform at this point but Yeah we did we did a a big deal with twitter this year we produced so that's the first piece and I think that's obviously helpful for brands because they're getting into the minds of of their customers the second thing I can do is offer them their target audiences especially when those target audiences are C. suite executives or institutional investors are individual investors the kinds of daily video show on twitter called what's now producing twenty plus videos a day live streaming all of our events so how does it work do you sell into that today sound people that were really effective at reaching an understanding so the the first piece of it is is sort of an insider intelligence piece which is what are these people care about how are these people spending there I know what is interesting to CFO's as an example I can also because of the products activa get a sense into print or digital or events which which we can get onto a minute but I can also help them create for this audience so if I sort of focused on their AD business they tried to protect exactly right we are partners with apple news plus but that's access to those customers through advertising and a very targeted way putting them in front of the right folks you know across the different properties whether that's in you know all of the scrutiny on the platforms to actually benefit publishers in in the in the reality of the ad which is the one that the Journal and the barons newsrooms you know employees every day which is we need to add value to these people's lives we need to help so much content sort of exists out there in the world on on any number of topics I say here's some white space but it's an area of interest and let us help you you know them make important decisions so they need clear concise factual information it's sort of you know somewhere the closer to utility than than sort of general entertainment eight four or shoot for if it's a video or you know program for if it's an event this audience and I think we bring a philosophy with it and as it relates to content I think brands advertisers. You know we'll do well by thinking of themselves as utilities how do I add value to these people's lives that approach that we take that combination of intelligence creation and then distribution an account management You know for these big so we've been really pleased with facebook partner don't know well read into that both sort of both it's sort of a coordinated effort and they're they're great partners actually I I think you know twitter has been really fantastic partner both from a rather than just sort of you know scream about how great product is so we're finding that tone that point of view is is increasingly in quarter sizes a CMO of one of the oldest insurance companies in the game that's metlife and the head of marketing over at one of the most visible the walled gardens and the big platforms. I think they do well. They've done fine accustomed program so it's a sort of a B. Two B. Facing name for that that capability and we've got you know a a big creative team kind of at the heart of it the trust in that that's the sort of rebranded content students that the trust is in essence you know the the be brand or the name of in demand and so you know not with every advertiser are we doing all of those things but we have the capability to that sort of the way I think about it what's the short into Cookie Apocalypse Cookie Pasta you have your age yeah I've got my cookie pacalypse but like who is you know Bhai some digital ad space because a lot of different levers you can bring to bear down I think about our role editors and Gr- creatives but we also have a big account management team and that's actually something that I think a lot of media companies maybe invest in as much as they need to because these kinds of there's a painting yes clean because I think it sort of you've got sales and they sell the program and and perceptions their latest report on traditional versus digital media offers an in depth look at the widely discussed but rarely quantified shift from traditional in their audiences global web index is the platform that helps them do that offering access to the largest and most revealing consumer study in the world this cover sizable capable sort of fit for purpose account management function. I think the experience of doing these programs can be incredibly onerous for make sure it's working and if there's events involved you know you're talking about a whole `nother level of sort of interaction and back and forth and detail and if you don't have a for a message from our sponsor global web index did you know over half of consumers globally are blocking ads online this stat is from global web find their way to that report a moment in time and so You know I think it serves that purpose increasingly for for brands now a quick break Oh to digital media helping marketers understand where to invest and why visit Global Web index dot com slash digital to get index and it is just one of many proofs consumers are becoming harder to reach that's why brands agencies and media organizations are placing far more focus on understand forty-six countries and over four thousand local markets through which you can analyze everything from user behaviors to habits to interest we also have a lot of success with the special reports we do in the Wall Street Journal which are sort of weekly on different themes and they become sort of so I think a big part of the the promise of the trust and as a consequence of big part of the personnel is is an account management function which I think is going to be events in their own right here's the you know use a maybe a clear example the annual college rankings that the Wall Street Journal does every every year you know that sort of and we'll make this little digital extension for you now we do big digital programs and princes used as sort of an announcement to say hey this is launching or this just culminated or whatever it is the bigger picture on media consumption and a taste of their research with a free expert report talk about the events appliance that's why you see a lot of sort of low renewal rates and you know people sort of promiscuous with the the the partners they work with to do custom content because it's a pain in the ass you know is print the way people are going to sort of achieve their reach and frequency goals you know that's not really the way I think people think about it anymore it's sort of it's more of an event moment where everyone who cares about that that's university presidents and policymakers and people in education and prospective students and their parents all of those things said if they're all ends the events and the role that they're planning to sort of a tangible expression of of campaigns yeah well interestingly you know if print print is now so of an event I think events are also kind of serving the purpose that print once did which is to make our brand sort of resonant intangible places where maybe people aren't seeing it how it creates some tangibility it it you know we're we're actually finding this is interesting to sort of the inverse run a bunch of print pages and then more and more important I want to get to the events before that what is the role print plays then Y- slash yeah I I think it's a great way to think of it growing quickly for us it's also one of the ways in which we bring something to our subscribers that makes that subscription fee form of journalism or another format journalism it's it is a team that actually dual reports into the AD side and into the membership side The moment marks a moment so I think of printers privacy breach the platforms gotta run exactly apologize for that adding value to are paying members and on the sponsorship side it's it's still growing quite a bit and I think we're sponsorship which is the bigger part of it which is obviously a part of the ad sales universe so yeah it's a it's a meaningfully sized business already and it's popping in the middle of where a lot of our members and sponsors already are so for example we did the first one Davos which is where sort of all of our CEO readers often on newsstands which which don't exist but the event business itself for us is meaningful it's already a big part of our dedicated a lot what we call live journalism team that's how we can refer to our events in part because they're all on the record and our newsroom sees them as as another getting better too it's a hard sort of business to scale right because of labor intensive and you know to some degree you know it takes and and they're they're stretched for time and everything else muscle memory of a lot of publishers. Yeah that's exactly right there are sort of sales organizations not service organizations exactly time we can bring in dozens of sponsors you know into this sort of this single moment if you will so in terms of the yield or the return in time to to do something unique for each of them so it's been an accelerator of our of our business not the entirety of our business but it's a good innovation honor the world about the great things that in a better yeah no I I think I think print is increasingly a marking of a moment pretty big business of this past year we came up with a concept called Journal House which is this idea of building a sort of pretty sizeable physical space and kind of in all these houses for a week well but what it does allow for is over the course of four days programming throughout the entire time sample of US recognizing that you know we want to make some meaningful steps into a new format video potentially the heat if collapses I will have like my metaphor for like a great yes that would have been convenient for you at business and it's growing quickly so it's part of the AD business yeah well no it's it's well it's interesting it's it's sort of there's more like a membership because part of being a member of the Wall Street Journal is access to these events so it's very closely tied and how we market it and how we think about it on this quote unquote event it's so much greater than what we could do with a two day conference or something where you've got three or four sponsors this is only so much sort of real estate because it again it sort of takes those things coming together to make them successful so the business of our events is a combination of ticket sales which sort of a membership function and then listen to sort of make it work economically so you know this twitter video that we now this year you know will double our video business bringing opportunities that are more commercially interesting than we've seen before I final topic is around brand safety you know this is it's it's an issue that protein than we ever have had and they're making more video but it's not like you're seeing it some other publishes where they're sort of going all in video you know the twitter deal I think is a great reaching a new audience that we can introduce our brand to or a format expertise as our our partnership with spotify does for for audio and like I said before I think the platforms anyway and that's not the extent of of the universe of potential partners but I think they are videos not a huge business at the journal you know it's not our native language as it were you know we've got a bigger editorial already are we did it again can you I was saying yeah that was sort of joking with you that that if it if it collapsed I as I was walking up there is yeah so where does video fit into all this I mean we see people making gigantic bets in Video Sto- you know the pivotal videos over I guess but where does it fit into the to get through a partnership is a good way to do it because they bring expertise they bring resources and then they bring massive distribution you know and and I think also then just create sort of more energy around video and and hopefully it's something we build on but you know it has not been one of our strategic time over years to build kind of equity around to give it event but which have innovating with format I think in a way that's that's helped you know grow and already realism which creates jeopardy first society so this is a sort of big topic that I think needs to be addressed thoughtfully and collaboratively and aww podcasting yeah no no video actually podcasting he's been an area of of of growth for us depends on the nation of things I think it's a recognition of of what we are great at it and can do on our own and then looking for partners who bring expertise either in as it relates to brand safety is obviously you know something that creates jeopardy for my business but I also think it creates jeopardy for quality you know particularly hurts again quality publishers with fact-based journalism with audiences that trust that journalism You know what you're going to end up with is marketers love to talk about and then at the same time they've got these keyword blacklists that end up like scooping up lots of me comparative necessarily are you is that you're more partnership oriented than it has been you mean in terms of partnering with Yeah With Different Platform hopefully a way to do this more elegantly or more nuance way so they can support quality trusted fact-based journalism that's not only good for the world it's it's a fairly blunt instrument right it's sort of it's it's looking to mitigate you know risk across the whole open web and I think that address even you know the the the edge of topic that might be controversial you know I don't think that's good for them either so you know we're we're doing a lot of work to parse news environments that is more effective ultimately than this blocking a story outright because it happens to mention the word arms I it seems like there's there's more but maybe it just no I think that's true for sure I mean the again there were these three big partnerships announced this I'm finding the sort of other players in the space the advertisers and the agencies recognizing that you know there's a good for their brand but also void the you know the sort of disastrous adjacency I think the current approaches you mention of these exhaustive blacklisted keywords just in terms of research even we just did a big study with harassed the Agency of Oss that's just been released where we look at sort of trusted news it's GonNa be Q. Four and that's that's sort of dangerous you mean sort of like stop advertising during this period or just keep me away from impeachment just here I think you know three more than we're announced the year before that there's an Infiniti yes I think I think there's a common probably GonNa be avoided by advertisers I think that's right on the flip side I think it will bring a lot of people generally to news and they'll consumer do and certainly in the case of Barons Market Watch the entirety of what they do you know is is sort of not you know quote unquote politics so I think you know as more he's publishers much much to their consternation yeah it's either the the sort of concern around news environments got a team that can build what you've sold but you know it's an incredibly complex process to get this stuff up and live and monitoring privacy or politics or whatever it is impeachment is coming I just walked by the I walked by the TV's here and I see the latest news and the degree to which it conveys to advertise in that kind of stuff but then also you know the tools like thematic that I mentioned that contextual targeting tool is maybe another way people come into our platforms and in part to read maybe about what's going on in politics they're gonna read finance information business information and that creates opportunity but about that it's clearly calming and it's going to it's going to occupy at least through the end of the year Do you expect advertisers to say just just stop stop because it it was very very sturdy in fact so your time lapse video of it did not exist it was there for four days and it was good aac yeah it makes sense yeah yeah look I think this is going to create a lot of content that is example tweeted great learning about your loyalty to the Eagles during your interview Adam as a birds with friends fan it was great to hear other things and that might

Wall Street Journal partner Dow Jones Josh France facebook twitter Dow Jones metlife head of marketing thirty percent four days two day
The Stock Market: More Than Just the Dow Jones

The American Dream Experience Podcast

14:30 min | 1 year ago

The Stock Market: More Than Just the Dow Jones

"Okay today. I'm talking with the margin of veritas financial services and we've been talking covering a lot of ground margie since we started these podcasts and i'm i'm pretty excited about the learning experience you just came off a fabulous trip cincinnati over the weekend and we we did what was is called the american dream symposium with mark mattson and we took a bus full of people down there and they all. I had a fabulous experience like three day event wasn't it was a two days days of the event. I was just getting there. I'm just driving down and we had a lot of fun and one probably one of the most impactful things for me was the fact that i was able to take what are my daughters and my three of the grandchildren and two of them were of age to be in the symposium itself. The other one went to what is called dream camp right so they had a special dream camp meaning for youngster was accused of the one of my grandchildren was of age to go to that i and they had a fabulous time to giving him the basics of money they had this little container and it had a save share and spend so you had a like a piggy bank right at three slots money to spend some money that you share in other words k and then the other the one that you spend or to save so you had slots excellent teach them the basics of how you look at when you earn money what do you do with it so it goes on our educational system. There really hasn't been much information given kids as they go through school exactly so we're trying to counteract that within our families and opportunity for these kids to learn that so that was kind of fun and my two older grand kids <hes> one just i graduated from high school kid who absolutely did not like school sat there taking notes like you wouldn't believe he was interested in this subject of money so we've taught he got off on a good start and his older sister also so so we talked about why if you start setting aside fifty bucks a paycheck two bucks a month even any eighteen or nineteen what that can low hi. It's over time you're sixty. Are you know over time that makes a huge in that that measures the exponential the what would the oh the compound interest compounding. Okay your time and money etc but you gotta get it working right yeah. Ah yeah something. The investor warren buffet talks a lot about invested correctly. You don't wanna be speculating arguing gambling because you could lose it all exactly one of the questions. I want to ask you because i hear the term bantered around a lot and people sometimes sometimes are asked. Are you in the market in. They're not always sure what that means but you mean stock market obvious most people or what kind of market could are you talking about and what exactly is at terminology mean of you invest in question jim because most aw i would say many of our listeners people who are out there listening to this podcast when they think of market thinking dow jones because that's what they see m._t._v. or s and p five hundred. Yes you think of those two indicators or indexes or you're hearing every day on the radio. The stock market's to those those two averages are to give him any. That's a good thing but the shame of that is that they're not being exposed exposed to the fact that there are multiple markets in other words. There are emerging markets. There are small companies the s. and p. five hundred and the dow jones really only relate to large growth company came so talking talking in generalities too big huge audience for what they're doing. It's fine for for giving an indicator but it doesn't tell you the the nuance of how you should be invested and it doesn't have any meaning to what you should do for your investments or for your financial life frame because just because the dow jones is down or just because the s&p five hundred might be down or up is meaningless in your your overall financial world. It has nothing. Will you hear that it may be. It's down several you know several points and and and it makes you kind of an why am i getting depressed. I don't know that that's good or bad to me. That's the way you should look at it and it's it's meaningful only in the kind of relative. Is it sunny or is it sunny our cloudy or or sunny today well. Is that good or bad. There's no good or bad about it. It just is so you know if you have a rainy day. That's not necessarily bad right. That's often look at those days as a great days because they watering pastures. Horses are loving it. I used to live in florida where it was sunny. Every day and i got tired of sunny days giving you overcast cast a once in a while especially down there where the son kinda beats on yes so okay yeah so we get this relative feeling about market sure so so when you're talking about the market got to be careful that you're not using it in a way that indicates something that is you know eight static thing thing so be aware that there are many different markets are international markets. There are international large and small companies are emerging urging countries emerging markets emerging companies there so that's a whole subset of cat a category of markets. You know there are things like commodities. There are bonds fixed. Income is another area of the market so you you know yes it means stock market but it also means you're fixed income part your bonds and cds and savings accounts. Even you know those <unk> are all part of the market so a mutual fund it can be made up of all these things very oaken can be variety portfolio. Folio of you know that was my question. Coming next was about diversification. How do i run really yeah. Okay yeah so so back to our you invested in the market. Most people who have put anything king aside for themselves can probably answer that one yes. I'm in the market now. How how there in the market is really the real l. question i actually i had a conversation at lunch with a gentleman. I didn't even know i was sitting at this is after the symposium camera. I sat down an empty table and then along came. These people and i started talking to this gentleman. In he was an educated man he was had been a judge. He was now in retirement arment. Gotta figure. This guy went through law school so he has to be have some brains right e._s._p. Somewhat smart and i asked him about you. Know what how how you how how you liking what you're hearing or what are you getting and he made the comment that he had been out of the market since two thousand nine or something hey dr- taking money out of it and just dropped out just dropped out jeff. I have known that there are people that have been on the market. I'd like that. I had not encountered it so very often but i did that too and i just looked at him. I said wow that's a shame it just measuring the market from two thousand nine through this year. They're the end of two thousand eighteen right up like and i'm gonna say a relative almost three hundred and fifty percents <hes> mrs smith of how sad and so i kind of looked at aw aw that's really too bad and here's what that means that fear whatever it is that has kept him. I'm from fully enjoying the market and its ups and downs and you know from two thousand nine to two thousand eighteen. It didn't go straight up their ups and downs and zigzag as it always yes but the general inclination is overall effective. It's spend up consider. There's a saying that i don't know where the next twenty percent is going but i do know where the next one hundred percent is. The next one hundred percent is up right the next twenty percent ten percent could be up or down here so i mean go back back fifty years and measure the market overall is that it's it's definitely much greater than it was back if two years ago right we'll never see those numbers again but so what do you mean well. I mean we'll never go back to what the unless a market totally. He just collapsed or something of that nature yeah but i'm not quite sure i think we'll look what inflation is done to us over fifty years. Look what just just just even you know could have been a well. Here's the thing if you are going to keep up with the the cost of living which is what inflation reflects you need to be. You need your money to grow for your son invest way to do that is to be invested in the market to the extent that you can afford the ups and downs you mix with a good globally diversified. I five portfolio you mix in some fixed income so heavily on on where you're at so case that gets determined. How much volatility ability can you tolerate but you have to have some money in the market otherwise you are not going to even keep up with inflation marie. This gentleman actually was a <unk> mattress money. It's kind of you're actually losing your bleeding slowly air. Yeah just think of it that way. You're dying very slowly. It's really sad. That's a good way is a good metaphor to put a put togther because you're right. It's yeah so he's missed over. What maybe the last ten years a lot of opportunity yep so we just got disgruntled with the market and said i think i'm bowing our dropped in two thousand seven two thousand and eight. I'm drop but by the the early part of two thousand nine actually is march ninth two thousand nine. It started its trajectory up on it. Really you know went fast fast and furious and that often happens if you look at markets ups and downs. You'll see that the biggest jump up is right after a a big dump so you can't predict when that's going to happen never know how far or how deep the down will go and you don't know how high hi are up. We'll so the way to invest is to be really diversified through all different the kinds of markets so i saw real estate at that time right during the two thousand nine implosion oh eight is back again in full force again. It's really yeah yeah so that is another type of market and and you need to look at his stark rates how how real estate really works and so forth so that's usually a big part of our lives is some real estate. Whether it's it's owning a whole more i was in real estate at that time and i i saw the bottom dropped out of real estate and i thought well this could never happen but it did happen shirt and then i saw that comeback along with everything else you know so yeah we hit a we hit a little who plunge and we recovered in our next come a podcast. What we're gonna talk about is. How do you use markets to your advantage. You know we throw this word diversification around a lot and fact the industry. Does it a lot but there's a lot of miss information or miss misconceptions conceptions about the word diversification and what it really means so pick that up again but we really would like people to you know. Let let us know if you're you're listening and once again. I might remind people you've got another american dream experience coming up here in the plymouth area -tario and that's open to anybody. We've got hotels here so people hearing talk about that trip. You just took and they weren't in there. That'll be happening again. They can get in on on this next one so yeah. Nobody will look back and regret that it was a great experience <hes> they can go to our website to see what next offerings are coming up you on different educational and fun times. We always have a good time to do one on returns coming up real soon and you know where they come from all that and how they impact your pocket plus any concerns or subject matter. You'd like to hear us discussing in regard to we'd love to hear from you so <hes> you can go to veritas investing dot com and we'll do our best. Thank you jim okay. That's our podcast today.

jim mark mattson warren buffet cincinnati dow jones florida mrs smith jeff one hundred percent twenty percent fifty years ten percent ten years three day
862: [Part 1] What is an Index Fund and Why You Should Care by Nick True of Mapped Out Money on Stock Market Investing

Optimal Finance Daily

08:35 min | 1 year ago

862: [Part 1] What is an Index Fund and Why You Should Care by Nick True of Mapped Out Money on Stock Market Investing

"This is optimal finance daily episode. Eight sixty two what is an index fund and why you should care part one by Nick true of mapped out, money dot com, and I am, Dan. I'm your host here on the show. This is where I read to you from some of the very best personal finance blogs on the planet. And before we get to that post from Nick, I wanna thank fund for their support their frequently mentioned as a recommended tool in blogs that I narrate here. And for good reason, fundraise enables, you to instantly access high quality, high potential private market real estate projects from high rises in DC to multifamily apartments in LA, and each real estate project is carefully vetted, and actively managed by fund rises team of real estate pros fund rise is the future of real estate investing. Visit fundraise dot com slash oh. FD. That's F. U N. D R, I S, E dot com slash oh, f t to have your first three months of fees waived. Now today's post is a little on the long side. So I'm going to read the first half. Today and I'll finish up the rest tomorrow. So with that, let's get right to part one as we start. Optimizing your life. What is an index fund and why you should care, part one by Nick true of mapped out, money dot com. Great index funds. Another complicated investment term. I don't understand at least. That's how I felt when I first started learning about investing. It's hard to keep everything straight in your head index. Funds mutual funds. Stocks bonds, Roth IRA's 4._0._1._K's. Why are all these names so weird? Well, luckily, we've had a lot of great people go before you and me and figure all this stuff out for us. So today, I'm going to share what I've learned about index funds from other people and why I think it's the absolute best way for us to invest, this is what I use, and it's probably what you should too. Let's jump in stock market index before you can understand what an index fund is you have to understand what a stock market index is basically an index is simply a collection or group of stocks that have been put together, you may have heard of the S and P five hundred index or the Dow Jones industrial average both of these are examples of stock market indexes, the S and P five hundred is a group of the largest. Five hundred companies in the US and the Dow Jones is a group of thirty large companies in the US, another major stock index is The Wilshire five thousand which is an index that attempts to include almost all the publicly traded stocks in the US, other major stock indexes include the Russell, two thousand the NASDAQ composite and the NYSE composite, all of these indexes track a certain portion of the stock market based on company size or industry, all you really need to understand, is that a stock index is just a group of stocks together the tracks the performance of that group as a whole if you ever hear someone say the stock market's down ten percent, they're likely referring to one of the indexes and more often than not they're talking about the SNP, how index funds work an index fund is a special type of mutual fund rather than leave the stock choices up to an individual fund manager or firm index funds simply track specific index, they do it by buying a portfolio of stocks that aligns as closely as possible to that index. For instance, both F, U, S, E X and via fi, annex or index mutual funds that track the S and P five hundred. This means that they attempt to hold the exact same balance of each stock as the index weights. It these index funds are capitalisation-weighted or market market-weighted. What does that mean you ask? Good question. Here's an example, although there are five hundred stocks in the S and P five hundred each stock doesn't account for one five hundred of the money in an S and P five hundred index fund rather each stock makes up the same percentage as it size, relative to the other companies. Let's look at apple. Apple is the largest company in the country right now. And as of February eighth 2016 it makes up three point one nine percent of the entire S, and P, five hundred that is considerably larger than if you took all five hundred companies and evenly distributed them at one five hundred which would be zero point two percent. So if apple makes up three point one nine percent of the S, and P five hundred and you invest a thousand dollars into v-f I n x which. Is an S and P five hundred index fund that means three point one nine percent, or thirty one dollars and ninety cents will be invested in apple stock. Similarly, Amazon makes up one point three three percent of the S and P five hundred. So thirteen dollars and thirty cents of your thousand dollars would be invested in Amazon stock, and then the rest of your thousand would be invested in the other four hundred ninety eight stocks, according to their size as well, index funds are about as boring as they sound. They just track along with the index. No. Fancy stock picking no top ten hottest stocks. Now just plain old investing in the whole market. If the S and P five hundred game seven percent, your money gained seven percent. If it goes down five percent, your money loses five percent, but don't worry when it comes to investing, you want to be super boring. That's how you win. Let's find out why here are the major advantages of index funds. There are many advantages to index funds and they all center around three fundamental ideas. One, no one or at least less than two percent of people. Can predictively and consistently beat the market after fees to the only thing you have control over when you're investing is the fees you pay to invest and three. Keep it simple index funds shine when compared to active management and stock picking they require minimal effort normally less than an hour per month if that in many cases, they rely on the stock market as a whole rather than someone trying to beat the market, and because they don't have to pay managers to actively oversee, and choose the investments, they're able to maintain extremely low fees. Here's how the outperform ultimately stock picking is a losers game. Even for the professionals an article in the New York Times discusses, a study conducted by SNP, Dow Jones this study looked at two thousand eight hundred sixty two broadly diversified actively managed domestic mutual funds operating between March of two thousand nine and March of two thousand ten it shows the top twenty five percent of these funds and track their performance over the course of the next few years through March. Thousand fourteen. The study looked to see which of those funds that started in the top twenty five percent stayed in the top twenty five percent for each of the four twelve month. Periods between March twenty ten and March twenty fourteen the answer to that's right. Two out of two thousand eight hundred sixty two funds invested in the same type of stocks were able to consistently outperform that's point zero seven percent. So here's the problem if it's that rare for mutual fund managers to consistently outperform, what makes you think you can choose the right mutual fund that will that's right. You probably can't. But that's okay. I can't either. That's why I invest in index funds that way I'm guaranteed the market return. If you're investing over the long term, which she should be indexes will beat the large majority of actively managed funds every time to be continued. You just listen to part, one of the post titled what is an index fund and why you should care by Nick true of mapped out, money dot com. And thank you again to fund rise for their support fund rises. A highly recommended tool among authors. We narrate here. So check it out. Come by fund rise dot com slash oh. FD to have your first three months free. Private market real estate has historically provided excellent ongoing cash flow, even as it supports long-term growth, private market assets like these, or a strategy for diversifying beyond public market investments, and even other kinds of real estate like publicly traded, reits, and fundraise is the future of real estate. Investing the platforms innovations power and investor, I model by eliminating the bloated costs and middlemen that have traditionally weighed down real estate, investing saving investors time and money. Unparalleled transparency and real time reporting let you see how the development of SP. Pacific properties impact your overall portfolio. So come try it out visit fund rise dot com slash FD. That's F. U. N. D R, I S, E dot com slash oh, f t to have your first three months of fees waived, and that's going to do it for today. Thank you so much for listening have a great rest of your day, and I'll see you back here tomorrow for the Wednesday show where we'll finish up this post and where your optimal life awaits.

Nick apple fund manager US LA Dow Jones Amazon Dan New York Times Dow Jones NYSE Russell
Celebrity Birthday

Best of The Steve Harvey Morning Show

01:49 min | Last week

Celebrity Birthday

"All right time now for Steve Harvey Celebrity Birthdays. Junior take it away because this is near and dear to your heart right here. I'M GONNA. Let you go ahead, oh. Oh yeah, do my birthday. Celebrity birthdays already know what today you. Missed the Dow Jones, what? Ashley. Jones the whole birthday today. The Group We celebrate advocacy group? Matter of fact Mini Concert Right Matt just for Y'all. I've been watching you. So. Long. Trying to give a bit de to be so strong. Really want to meet you but I'm kind of. Conley. With? Clare. Getting my thoughts to get the. Next Day. When I see you laid I. Forget what say you're as? Beautiful Tone. Address walk. Really. Don't. Come Komo commute you. Don't take no Jonathan. More of the Steve Harvey Morning. Show, some turning news coming up at thirty three minutes after the hour. Happy Birthday, Mr Dalvin from. Back, right after this, you're listening to Steve Harvey Morning Show.

Steve Harvey Dow Jones Komo Mr Dalvin Ashley Conley Jonathan Matt thirty three minutes
Step 1 to the American Dream: Define Your Investor's Philosophy

The American Dream Experience Podcast

14:40 min | 1 year ago

Step 1 to the American Dream: Define Your Investor's Philosophy

"Okay once again we're talking with margie whitcomb veritas financial services and margie and i've been talking about the american eric dream here for a while and some of the questions that get covered in your educational classes are these twenty must answer questions and i thought we could start with one of those today because it really is is the one i always looked at him wanted to question is have you defined your investment philosophy fee and i don't know how many people might have done that but well what what is a philosophy. A philosophy is a belief. What do you believe in other words when it comes to investing. What are your beliefs. Where do you think how do you think you make money in the market now. Some people believe it's a gamble you hear that terminology or things along. I'll play the market you know they think in terms of gambling speculating on or a win the lottery the ladder it yes and so in one sense if your philosophy of investing is i'm going to play the market or it's a gamble well then you're going to be speculating in the musher and you're going to try to pick stocks or pick some socks or even bonds junk bonds or whatever whatever's out there and <hes> try to make some money that way so that's one kind of philosophy i think some of that can be spurred on by the idea of day trading and bashes packed some of the ads on t._v. Even very much encouraged. I think one of them who says you can have a coach to improve your trading so you know you're buying and selling and buying and selling so in that philosophy. The whole world of investing takes on connotation of transaction shirts all transactional yeah so matt moore like gambling though gamma-ray emery okay so what's your philosophy. That's how you think you're gonna make money. Well go for it. I guess that isn't our philosophy. Your mind at all. There's another other philosophy or belief system is that the market will give you a very good return if you own the market in other words if you own all the read very the most important parts of the market like large companies and maybe own some small companies and you own different. It has nothing to do with buying into a manager. That's going to do that for you or a or speculating gambling. You're gonna have the market work for you you right. If you have that philosophy then what you're going to try to do is put together portfolios structural engineer however you wanna talk about build your portfolio or your investment along that philosophy of capturing market returns and you're going to do it in a way that is cost efficient and effective so where are you going to get the information hike and find that recipe well. That's your full philosophy and then you really gotta know. How do i think about this if you don't define that that's why the question says have you define sure sure hessman philosophy home do markets work or don't they work. Where do you think returns come so those are some basic and i think people really have to grapple with a little bit. It doesn't mean that you have to come. You know some kind of guru yourself itself. It just means that you need to kind of come to terms exactly yeah just just understanding and a little better education. What is the price of a stock. Come from it comes from whatever the market will bear and one of the elements of good philosophy and we say good because it is more predictable right we'll give you a market rate of return is believing in efficient markets in other words at the market market. The price of something is whatever the market will bear in other words. It only changes it only changes. If there's new information we call it news but even when the news comes out it's actually old time programs on news the programs they should be called old programs because the new goes is not new anymore as soon as it's out by the time you heard it. Every heard is already. There is already there yeah and we hear these things called index. Maybe we could just quickly defined index extra people as we did you mention. How do we determine what a stock is. Worth and how would value gets there well how an individual stock and is determined is based on what the market sees. Its value for okay right so that's very simply put a lot of elements elements that go into that but that's pretty simply boyer now the other thing you ask those about an index and index is an indicator <hes> mhm it okay so you might have a large cap index which might for for example would be something like the s. and p. five hundred and that's a large urge company growth generally growth companies indicating the market itself as part of the market bar value yeah companies and so you might have to look at russell two thousand for small companies. Dow jones can only be twenty starks. Is that what it is. It's thirty these thirty stocks and there's very well dow jones thirty is stocks so this thirty stocks they pick and the company dow jones the the dow picks those companies to represent the large yeah it was a picture of a snapshot of snapshot right exactly exactly and that's exactly what they are just simply a snapshot and the index is just take in because we see that how it can drop a couple of hundred points in a day and then bounce alex back in one day points you so don't worry about it but it gives us an indication of what's going on within busters at that moment that should not and i wanna really caution people. You should not base your investment and decision or your financial decisions based on what the market whether it's the dow jones the s five under the small company index is whatever uh-huh is doing an any given moment right. You'll be chasing around in circus driving yourself crazy losing a lot of money so that's but that's why insider trading is such a such as a violation of the law because people know something about a stock that the general public doesn't know gives them an unfair advantage exactly can also and you know exactly and in congress i really do me. There's a merger acquisition going on pass laws. They pass laws that are going to affect certain parts of the market it will those congressman should not be able to buy into companies that are going to be effective in one way or the other yes regarding those things i believe i mean that's just my my belief my thoughts on author at passing legislation that can affect the market or drastically that we don't on her tail that activity if we don't so yeah we have to be careful that we don't allow you know that that was one one of the big problems back in the nineteen twenties. When we had the big market i mean there was no regulation on the market. Here's a while westpac really was yeah so the but in developing your investment philosophy the reason this is is important is that if you are aligning your financial decisions your investments with your investment philosophy it it only stands to reason makes a lot of sense that you're going to stay the course and you're gonna feel a lot more confident in what you are doing yeah. I like like that word because i think you just feeling confident that you're you're doing the right thing. If you don't know what you should be doing and you're just leaning on somebody that might be managing in your portfolio. You feel like you're not really having a seeing it so once. Once you define that philosophy and align ain't it with a firm or with an investment person usually working inside of a firm. They are implementing it for you well now. You have confidence that you're doing the right things but it needs. You need to define it if you don't define it. You're just going to always be wondering what the heck am i doing that just leads to more cacophony and yeah again you end up losing losing to the house. If you would just like a gambler you get to the end of the road and youth. You thought what was going to be there. You know you started out. It does does not occur and you say wait. What where did i go wrong and it's too late to go back and fix it right yeah exactly exactly so our belief is that you we help people understand what that mean how to look at the the market and then we give them evidence and help them to to kind of decide okay. Do i believe in gurus who i believe there's some money manager out there that can do better than others and that's one kind of speculating and gambling through actively managed mutual funds. That's kind of speculation right right here guessing which way the market's going on which way this stock is is going or do i believe in the market in a broad base and i want to be participating in the activity of life as it is reflected in the market and then you can have some assurance if you have a properly structured portfolio that you're going to reap the rewards awards of the ownership of those stocks or equities or and monz bullpens well in i think yeah i'm glad we had a chance asked to clarify this. Questions thought it was your purpose. Yes online near purpose. Align your philosophy and then some release other elements will come into play. I think the next time we're going to talk a bit about you know. What is this thing. We call risk very risk tolerance <hes> <hes> so we're gonna. We're gonna cover that in a minute here and we're going to or on the next podcast. I believe right you raise a. We have a few more minutes so let's talk a little bit about what you raised earlier this whole idea of if you won the lottery this is a great supersize for people to to do whether they actually go out and buy a lottery ticket or not. That's not what i'm saying. I'm saying is think about it. Think about what if what if i had make up the number but are one of the biggest one i can recall not too long ago was seven hundred and fifty million. I mean that's three quarters of a billion in dollars. Would you do what how would you create positive benefits. If it's do you know that most very often. Let's just put it that way. I don't know what the stats are but they're pretty darn. High people who win the lottery in like five years later broke. That's assume that is a statistic that is actually the truth and i think it's been recorded. They followed people around. They took so many subjects that one lotteries and it's amazing how many people's lives were destroyed years later. They just couldn't manage the money. It did nothing but create havoc in their life c. c. he money without purpose yes or without a philosophy a belief system. That's what it was horse. That purpose right becomes destructive. You've got friends that you didn't know you had suddenly everybody wants to believe. It broke again. You know so you can end up in really i style things against people winning the lottery but i think when they get that much money at one time it is very difficult to manage it but but if you do the little exercise that i'm suggesting which is what if and you put yourself through the process of thinking about it what would i do and really think about it. Write it down right. Figure it out in just the very act of going through that exercise you will developing developing define both your purpose and your philosophy award agree to really now you can do that in your own life scher with their your job and the money's you're you're working for and getting and so forth and so on well and i just put it to practice absolutely. I like that little exercise. Iso that and i'm going to go home and do you know you very seldom. Ask yourself that question but some people think that their only only means of wealth at any point in their life is winning that lottery so when every time they buy a ticket they think it brings them one step closer to winning it yeah. I just wanted to mention that. If anybody has questions anybody has things. He wants to cover these podcasts. All you have to do is just email us your email. Let's go to our website. Just find <hes> you know. Margaret got with cup at veritas investing dot com or anyway. Just give us a call. There's multiple ways of getting a hold of us and we will cover it and i think we're just about running out of time here so <hes> this sabih podcast number one fourteen and keep your eyes out for one fifty become your way shortly. Thanks margaret.

margie whitcomb Margaret Dow jones matt moore congress engineer boyer congressman alex scher three quarters five years one day
1187: Stocks -- Part II: The Market Always Goes Up by JL Collins on Investment Advice During Tough Times

Optimal Finance Daily

10:21 min | 2 months ago

1187: Stocks -- Part II: The Market Always Goes Up by JL Collins on Investment Advice During Tough Times

"Real quick, we recommend listening to this show on spotify where you can listen to all of your favorite artists and podcasts in one place for free without a premium account, spotify has a huge catalog of podcasts on every imaginable topic, plus you can follow your favorite podcasts, so you never miss an episode. Premium users can download episodes to listen to off lime, wherever and whenever and easily share what you're listening to with your friends on Instagram so if you haven't done so all right, be sure to download the spotify APP search for optimal finance daily on spotify or browse podcasts in the Your Library Tab, also make sure to follow me, so you never miss an episode of optimal finance daily. This is optimal finance daily episode eleven eighty seven stocks part to the market always goes up by jail Collins of Jail Collins, H., dot, com, and I am Dan I'm here every single day reading to you from the best personal finance blogs on the web, and if you enjoy this format, this idea of reading blog posts to you for free, it will be fantastic if you could share this podcast with somebody today, you can do that. That by emailing or texting them a link to old podcast dot com slash, listen or even better. If you're able to subscribe to the podcast right there on their smartphone, it's a really big help to keep this show going so thanks so much in advance for that. It really means a lot to us, and I'll keep this intro nice and short for you today, so for now let's hear today's post and start optimizing your life. Stocks part to the market. Goes up by. Jail Collins of jail. Collins N. H. DOT COM. On what was later to be called black Monday in nineteen, eighty, seven at the end of a very busy day I called my broker. Remember now this was when we had brokers, and before cell phones, personal computers, the Internet and online trading. I Bob, I, said cheerfully. How's it going? There was a long silent pause. You're kidding. He said right. He sounded dreadful. Kidding about what? Jim We've just had the biggest meltdown in history. Customers have been screaming in panic at me all day. The market is down over five hundred points over twenty five percent. This was the point at which I joined the rest of the planet in being absolutely stunned. It to describe just what this was like. Not even the Great Depression had seen daylight this one, nor have we since truly it looked like the end of the financial world. As any educated investor does I knew that the market was volatile. I knew that on its relentless March upwards there could, and would be sharp drops and bear markets I knew that the best course was to hold firm and not panic, but this this was a whole another frame of reference I held tight for three or four months, stocks continued to Drift ever-lower finally I lost my nerve and sold I just wasn't tough enough. That day, if not, the absolute bottom was close enough to it as not to matter, then of course, and as always the market began again. It's relentless climb. The market always goes up. It took a year or so for me to regain my nerve, and get back in by then it had passed its pre black Monday, high I had managed to lock in my losses and pay a premium for a seat back at the table. He was expensive. It was stupid. It was an embarrassing failure of nerve. I just wasn't tough enough, but I am now. Mistake of Nineteen eighty-seven taught me exactly how to weather all the future storms that came rolling in including the class, five financial hurricane of two thousand eight. It taught me to be tough and ultimately it made me far more money than the education costs. Here's the thing you need to understand. The market always goes up. Always bet no one's told you that before, but it's true understand. This is not to say. It's a smooth ride. It's not it is most often a wild and rocky road. It's not easy. Reader J. T. H. in the comments for part one says quote. We've stayed the course with a side dish of panic and quote. Great Line there. J., T. H. and staying. The course is always served with side dishes panic. That's why you gotta be tough. Because the market always and I mean always goes up not each year, not each month, not each week, and certainly not each day. Relentlessly up. If you look at the Dow Jones Industrial Average from nineteen. Hundred, twenty, twelve, the nineteen eighty seven blip is there and easy to spot, but not quite so scary in context. Take a moment and let this sink in. You should notice three things. One trend is relentlessly through disaster after disaster up. To It's a wild ride along the way and three. There is a big ugly event. Let's talk about the good news. I will tackle points two and three next time. To understand why the market always goes up, we need to look a bit more closely at what the market actually is. The chart represents the DJ I a Dow Jones Industrial Average. We're looking at the Dow Jones because it is the only group of stocks created as a proxy for the entire stock market going back this far. Way Back in eighteen, ninety six, a guy named Charles Dow selected twelve stocks from leading American industries to create his index today. The Dow Jones Industrial Average is comprised of thirty large American companies. Now, let's shift away from the DJ I a index which I only introduced for its long historical perspective to a more useful and comprehensive index MCS CSI US broad-market. There's an article announcing that vanguard is using this index in crafting the vanguard total stock market, fund or v TSA axe update as of June third twenty Thirteen v Tsa. X is now using the CR s P. US total market index. The index and v TSA ex exactly what they sound like groupings of every publicly traded US based company. Line they are almost precisely the same since we can invest in V. Tsa X. Going forward. I'll be using it as our proxy for the Stock Market Overall. In Nineteen, seventy six. When John Bogel invented the index fund, he gave the world wonderful way to invest in the entire us. Stock Market. This is the single best tool we have for taking advantage of the market's relentless climb up. V Tsa. X is the market, and as such does exactly the same. Okay so now we know what the stock market actually is, and we can see that it always goes up, so let's take a moment to consider. How can this be? Two basic reasons one. The market is self cleansing. Take a look at the thirty Dow Jones. Industrial Average stocks care to guess how of the original twelve are still in it. Just one General Electric. In fact, most of these companies didn't exist when Mr Dau crafted his list. Most of the originals have come and gone or morphed into something new. This is a key point. The market is not stagnant. Companies routinely fade away and are replaced with new blood. Note as of June Twenty Six, twenty eighteen g has joined the rest of the originals and has been removed from the Dow. It's been replaced by walgreens boots. The same is true of vets. It holds virtually every publicly traded stock in the US market, a little over thirty six hundred at last count now picture all thirty six hundred of these companies along a classic bill of graph, those few at the left will be the worst performing those few to the right, the best all those between at various points of performance. Okay looking to the left. What is the worst possible performance? A bad stock can deliver. It can lose one hundred percent of its value. Then, of course, it disappears never to be heard from again. As new companies grow prosper and go public. They replace the dead and dying the market and V. Tsa X. as proxy is self cleansing? Now let's look at our top performers on the right. What's the best performance? They can deliver a hundred percent. Certainly, that's possible, but so is two hundred, three, hundred, thousand, ten, thousand percent or more, there is no upside limit as some stars fade. New Ones are on the rise. The net result is a powerful upward bias, but note this only works with index funds once professional management starts trying to beat the system. All bets are off. They can, and most often do make things much worse and the always charge more fees to do it. We'll talk a bit more about this in a later post. To owning stocks is owning part of living breathing dynamic companies each striving to succeed. To appreciate why the stock market relentlessly rises requires an understanding of what we actually own with v TSA ex. We own quite literally a piece of every publicly traded company in the USA. Stocks are not just little slips of traded paper. When you own stock, you own a piece of a business. These are companies filled with people working relentlessly to expand and serve their customer base. They are competing in an unforgiving environment that rewards those who can make it happen and discard those who can't. It is this intense dynamic that makes stocks and the companies. They represent the most powerful and successful investment class in history. So now we have this wonderful wealth-building tool that relentlessly marches upward, but and this is a major, but that causes many, if not most people to actually lose money in the market boy, it's a wild unsettling ride, plus there's that big ugly event. We'll talk about those next. Search. You just listened to the post titled. Stocks part to the market always goes up by jail. Collins of Jail Collins N. H. dot com. And Real quick thanks to anchor for hosting this podcast anchor is the easiest way to make podcast. They'll distribute your podcast for you, so it can be heard everywhere. spotify apple podcast, Google podcasts, and many more you can easily make money from your podcast to with no minimum listenership anchor gives you everything you need in one place for free which you can use right from your phone or computer creation tools allow you to record and edit your podcast, so it sounds great download the anchor APP or go to Anchor Dot FM to get started. And that's going to do it for another edition of Optimal Financial Daily Hope. You have a great rest of your day and I'll see back here tomorrow. In the Wednesday show where your optimal life awaits.

TSA spotify Collins US Charles Dow Instagram Dow Jones J. T. H. Tsa Dan I walgreens vanguard General Electric Jim
Morning Brief for Wednesday, November 14th

WSJ Minute Briefing

01:17 min | 1 year ago

Morning Brief for Wednesday, November 14th

"Technology today has never been smarter. But smart only matters when you put it to good use together, we can build a smarter future for all of us. Let's put smart to work. Find out how at IBM dot com slash smart. I'm Anne Marie for totally in the newsroom at the Wall Street Journal, the consumer price index and core CPI for the month of October are out on Wednesday. Plus Macy's Charles Schwab. And blue apron report earnings ahead of blue Apron's report the company announced its laying off about four percent of its workforce or one hundred workers as it struggles to turn a profit since going public last year the company's stock is down seventy percent this year. We work says Japanese conglomerate SoftBank its biggest investor is committing an additional three billion dollars to the company bringing its valuation up to forty five billion dollars. According to Dow Jones venture source that makes it the second most valuable US startup after Uber. More than ten thousand Amazon employees are working on its Alexa, virtual assistant and echo devices. That's according to David limp senior vice president of Amazon devices speaking at the journal's tech de live conference this week for more. Details had to W S J dot com or the w s j app.

Wall Street Journal blue Apron Amazon Anne Marie senior vice president Dow Jones Macy Charles Schwab Alexa US IBM virtual assistant SoftBank David forty five billion dollars three billion dollars seventy percent four percent
Closing Bell Brief for Wednesday, August 14th

WSJ Minute Briefing

01:49 min | 1 year ago

Closing Bell Brief for Wednesday, August 14th

"Are you hiring with indeed. You can post a job in minutes set up screener questions than zero in on your short list of qualified candidates using an online dashboard get started today. Eh indeed dot com slash w. j. That's indeed dot com slash w. s. j. here's your closing bell brief for wednesday august fourteenth. I'm j._r. Waylon at the wall street journal in new york the dow jones industrials tumbled eight hundred points its biggest loss of the year and closed at twenty five thousand four seventy nine the broader s and p five hundred fell eighty six points and the nasdaq dropped to forty to each of the three indexes fell approximately three percent stocks began the sharp downfall early in the trading day after week german and chinese economic data triggered fears of an impending global slowdown plus an inversion and the yield curve also spooked boop investors the yield on the ten year treasury note briefly fell below yields on the two year notes for the first time since two thousand seven this kind of inversion between shorten short long-term yields is viewed by many as a signal that a recession is likely in the future all eleven sectors and the s&p five hundred declined led by energy stocks which which reacted to the price of u._s. traded crude oil falling about four percent and it was a down day for bank stocks citigroup fell more than five percent while bank of america fell four point five percent but don't be surprised markets move higher in the coming days accordia dow jones market data since nineteen seventy eight the s. and p. five hundred has risen on average thirteen percent in the immediate period following yield curve inversion. We have more details on today's sell off on wall street at wsj.com and the w._s._j. E._s._p._n. App indeed used by over three million businesses for hiring post a job today at indeed dot com slash higher.

dow jones wall street journal bank of america citigroup Waylon bell new york five percent thirteen percent three percent four percent ten year two year
Interior Department Grounds Aerial Drone Fleet

WSJ Tech News Briefing

08:45 min | 9 months ago

Interior Department Grounds Aerial Drone Fleet

"About the national security risk from Chinese manufacturers could US reliance on Chinese drones Green China and the US is heating up as China plans to turn on the country's five G. Network for public in the coming weeks the Chinese government has made building five g. a national priority clearing transforming virtually every industry including weaponry and manufacturing by offering seamless plus video service on Friday joining the battle for streaming dollars the apple TV services means lack site and snoopy in space for kids as sales declined for September dragging the company's total revenue down two percent to two hundred and sixty point quick note Dow Jones the publisher of the Wall Street Journal has a commercial agreement to supply news through apple old one point nine five million units of the switch light since its release on September twentieth worldwide on Seoul introduced in March twenty seventeen analysts said the lights sales beat expectations three hundred ninety thousand units it sold Japan were hand-held machines tend to be more popular after this looking to empower yourself financially join me Veronica to how I eat a curry is writing her own success story by creating a new lifestyle brand citing concerns that critical US infrastructure could be at risk the Interior Department Mar Washington bureau. Hey Tim welcome for having me so talk to me first about this grounding what's really National security risks spy risk information transfers on buying drones made by Chinese manufacturers and then recently lawmakers have looked into seems to have been feeling pressure from that neck can we point to any specific actions from any big manufacturers says that it has security and privacy policies in place it says for any of it but that hasn't stopped these concerns from developing the government has a vast amount of control and even if it's true that the government hasn't asked for is a US government agency so how else do you see a company like Dj I responding to these pasture they've even moved they haven't started yet they have moved to start making drones defenses even blamed Dj I for essentially flooding the market getting rid at the same prices for what a lot of government agencies are looking for and as of and I believe last year they ran ten thousand missions or slightly stranded during of the volcanic eruption in Hawaii believed that was a year they're using these drones a lot and but now see so natural disaster threat to human life or property roles that these drones are serving at Interior. They're going to start a review. They our security vulnerabilities at this point they they seem to to not it to protect their working collaboratively with interior to to protect all just a huge conflict right now between China and the US and in Washington shows interest in in doing things with it'll be interesting to see how this

US Chinese government apple the Wall Street Journal Green China China Japan Seoul Dow Jones publisher Veronica Hawaii G. Network Washington two percent five G five g
Wall Street Breakfast October 30: Where The Fed Stands In The Easing Cycle

Wall Street Breakfast

08:32 min | 10 months ago

Wall Street Breakfast October 30: Where The Fed Stands In The Easing Cycle

"Alpha trader is a weekly investor Focus podcast produced by seeking of a double dive into the most impactful market news and set the stage for upcoming market events. We are your hosts air task Stephen Alpher episodes are available lease which posted robust profits Q. Three as well as Standard Chartered which was helped by rising income from corporate and private banking clients Deutsche Bank is down good morning today is Wednesday October thirtieth and I'm your host Steve Brown welcome to Geico's Wall Street breakfast your daily source of market news tap leading today's news monetary policy will be front and Center for investors today and futures are trading sideways and analysis subscribe to this podcast on Apple podcasts podcasts spotify stitcher on our top stories today where the Fed stands in the easing cycle GDP expected to show a slowdown and big earnings on five point three percent pre-market beyond meat shares plunged twenty two percent on Tuesday after the company warned on a post earnings conference call thirty two million euros as it exits businesses and absorbs restructuring costs declines were also seen in one area of traditional strength fixed income trading after failing to make any major moves on Tuesday before the big fed decision while divisions remain on the fomc about the need to lower borrowing costs further. The committee is expected. Apple's earnings results today will provide some early insight into how apple's new iphones are selling as investors watched the tech giant's forecast for it's all ADA which is forecast to show a further slowdown due to slowing business investment and recent weakness in retail sales economists are estimating GDP increased at a one words reporting earnings early this morning. GE shares jumped six point five percent pre-market after an earnings beat and raising its twenty nineteen cash flow forecast in holiday season facebook is expected to post a rise in Q.. Three revenue amid a steady rise in advertising despite concerns that cloud that privacy and data protection standard discounting could be dialed up as competition and alternative protein heats up we do anticipate we'll be doing more promotion through trade and discounts going into the future noted executives he ninety eight to counter economic risks in other news the Central Bank's rate decision will come hours after the release of US Q. Three GDP point six annualized paste in the july-september period down from a two percent expansion in the second quarter this morning's ADP private-sector payroll is also expected to show job growth of just one hundred thousand according to Dow Jones but traders may hold the reaction to the numbers as they wait to see what the Fed is going to do they cut interest for the third time this year to a new range of between one point five percent and one point seventy five percent while signaling that it has done for now watch for Jerome while a one billion euro pretax loss was taken at its capital release unit an entity that is selling or winding down various divisions better news was seen at credits just a sweeping overhaul failed to arrest a slump at Deutsche Bank in Q. Three with Linda reporting second consecutive quarterly loss of eight hundred Charles Presser to see if he takes a page from the Greenspan playbook his mentor cut rates three times in the mid cycle adjustments in nineteen ninety five through nineteen ninety-six and again in the IPO share lockup further wait on the

Apple Fed Deutsche Bank Stephen Alpher Standard Chartered Geico Charles Presser facebook Dow Jones Steve Brown GE US Greenspan Jerome Linda five percent
Cattle Current PodcastNov. 25, 2019

Cattle Current Market Update with Wes Ishmael

07:08 min | 9 months ago

Cattle Current PodcastNov. 25, 2019

"Feedlots placements up ten percent last month. Fear cattle futures tumbled on Friday. Coming up on your calendar market update with West Ishmael. And how did all this is worse. Ishmael with your cal. Kurt Market Update for the late weekend and Monday morning. The twenty fifth of November negotiated cash fed cattle trait into the week mainly dollar higher on a live basis at one hundred sixteen dollars hundred weight in the Southern Plains and at one fifteen one seventeen at north dress. Trade was two dollars higher at one hundred eighty four dollars. Art Live cattle futures close in average of a dollar fifty two cents lower on Friday led by feared cattle week to week other than forty two cents lower in spot. December live cattle futures closed an average of a dollar sixty seven cents lower that was despite the sharp decline in wholesale beef values. Choice voice box beef cut out. Value was eight dollars and twenty three cents lower week tweak on Friday at two hundred and thirty two dollars and fifty cents. One hundred late select was three dollars dollars and one cent lower at two hundred eleven dollars and thirty cents. According Dandruff Griffith agricultural economist at the University of Tennessee the largest is portion of holiday beef binds coming to an end just prior to Thanksgiving holiday. The market will likely decline further with this coming shorter holiday. They week however in his weekly market comments. Griffith explains there's likely to be some frenzied define in the weeks leading up to Christmas. meaning that beef cutout prices will be well supported through the end of the year then in January. He says kit out. Prices are expected to soften as beat demand. We can seasonally during the winter. Months and as consumers focused more on inmates instead of middle meets wobbly feeder cattle futures and the sheer number of calves. Crossing the auction block ahead of Thanksgiving help pressure calf and fear cal. Prices last week despite renewed former feeder interest in the north nationwide steers nevers traded steady. There's three dollars one hundred weight lower. According to the Agricultural Marketing Service those those analysts point out weaned Caz with good condition. Continue to sell the premium to unwind fleshy peers. Fear cattle futures closed an average of three dollars dollars three cents lower on Friday amid pessimism ahead of the monthly cattle on feed report week-to-week. Fear Cal futures closed four dollars. Eight cents lower feed lot placements. October were significantly higher than the previous year as many expected but were less than pre report estimates according according to the cabin fever port for fee lot the thousand headed more capacity thirty two point four eight million head placed which was ten point one nine percent more or two hundred ninety nine thousand head more than the previous. October ahead of the report. Analysts consensus was for an increase of twelve percent. Keep been mind that placements. The previous October were slacker. Due to early Cath marketing borne by regional drought. AMS analysts explain drought throughout the planes last year brought many more cavs than in recent years to market through the summer months whereas this year excellent grazing conditions and uncertainty fueled by the Tyson. Plant fire let some producers degrades cavs longer marketing in. October of one point eight million head were zero point. Six X four percent less or twelve thousand had fewer than a year earlier that was in line with expectations as November. I There are eleven point. Eight three million head on feet which was one point one nine percent more or one hundred thirty nine thousand head more than the previous year the price support from US exports as a wildcard heading into twenty twenty but appears poised to strengthen do import to the global animal animal protein deficit cleaved by African swine. Fever in the November livestock dairy and poultry outlook analysts with USDA's economic research service explain while US beef exports are likely to end this year. Almost two percent less than last year shipments are expected to rebound in twenty twenty by by about seven percent as drought in competitor. Australia reduces its exportable supply at the same time that beef demand continues to expand in Asia. In the meantime Griffith points out slaughtered. Cow and bull. Prices are churning against typical seasonal pressure as ninety percent. Lean beef if prices continue to soar. He explained cow slaughter the primary source of ninety percent. Lean manufacturing beef is running about one hundred. Oh sixty three thousand head more of this year compared to last but high prices on Australian beef at tempered imports of lean manufacturing beef the United States typically most ninety percent lean beef imported to the. US comes from Australia. This year though Griffin says Australia cine considerable quantities of manufacturing factoring beef to China which is searching for meat protein to make up for the decline import production major the US financial indices closed higher Friday once again many ascribed movement to U. S. China trade. Talks that were paused at this time. The Dow Jones owns industrial average closed. One hundred nine points higher. The S&P five hundred closed six points higher and the Nasdaq was up thirteen point and finally today total pounds of beef and freezers. October thirty first or one percent less than the previous month and ten percent less than year earlier. According to the monthly cold-storage report issued Friday frozen. Pork supplies were record large for the month up. Three percent from the previous. CBS month and up eight percent from last year. Total red meat supplies freezers. were up one percent from the previous month. The Dow one percent from last year total frozen poultry supplies were seven percent less than the previous month and three percent less than a year earlier in your market update for the late weekend and Monday morning. The twenty fifth of November. You can find more at. WWW DOT CALICO DOT com. This is Ishmael. Thanks for listening

Ishmael United States Australia Griffith Southern Plains Agricultural Marketing Service north dress Griffith Dow Jones Asia Fever Cath CBS USDA Caz University of Tennessee
Cattle Current PodcastJuly 20, 2020

Cattle Current Market Update with Wes Ishmael

09:06 min | 2 weeks ago

Cattle Current PodcastJuly 20, 2020

"Features ended higher week to week on Friday US beef exports make an economic difference for corn growers to coming up on your calendar market update with West Ishmael How ol-. This is where sexual with your Kelkar market update for the late weekend and Monday morning, the twentieth of July negotiated cash fit. Cattle prices ended the week generally steady. The weighted, average five ary direct fed steer price through Thursday was ninety six dollars and thirty cents, one hundred weight on a live basis, which was thirty five cents higher than the previous week, but sixteen dollars and seventy cents less than the same. We clash dear. The average steer price and the beef, one hundred fifty seven dollars and fifty eight cents, which was nine cents less than the previous week and twenty five dollars and thirty nine cents less than a year earlier cattle futures meandered higher by Friday's close supported by the weeks optimism bill by cash, Peter, prices and thoughts that the low may be in the books prepared cattle prices. Except for unchanged in spot August live, cattle futures closed Naveh drip thirty six cents higher on Friday week to week. They were an average of a dollar eighty nine cents tire across a range of one of five. To three twenty, seven, higher and SPA August. In his weekly market comment Andrew P, Griffith agricultural economist at the University of Tennessee, points out the October live cattle, futures contract gained six dollars since the beginning of July while December gained about five fifty. Prices are below what cattle feeders would like. He says the fact that current cash prices are firming rather than continuing to decline provides optimism, however, as noted in cal- current recently USDA's economic research service lowered forecasts fed steer prices by four dollars to one hundred dollars, hundred in the third quarter, and by three dollars in the fourth quarter to one hundred and three dollars based on overall fit, cattle, supply, and weaker wholesale before. Choice box be value. Last week sank to the lowest level since December of two thousand seventeen, according to mess specifically choice box beef cut out. Value is four dollars and three cents lower week to week on Friday at two hundred dollars and forty seven cents, one hundred weight, so elect was three dollars and ninety eight cents lower at one, ninety thirty one. Renewed packing, capacity and cattle slaughter is behind normalizing wholesale values while heavier carcasses or adding extra pressure. Estimated total cattle slaughter for the week ending July eighteenth was six hundred fifty thousand head, according to m s that would be seven thousand head fewer than the previous week's estimate and five thousand head fewer than the same week lashed year. Year to date estimated toll cal slaughter of seventeen point one five million head. One point zero one million head fewer than last year. The average dress, dear wait for the weekend in July. Fourth was eight hundred ninety six pounds according to USDA's. Slaughter under federal inspection report. That was even with the previous week and thirty five pounds heavier than the previous year. The average dressed heffer. Wait was eight hundred twenty six pounds on par with the previous week, but thirty four pounds heavier than the same week lashed gear. Compared to the previous month, ers increased forecast beef production for this year by two hundred and sixty million pounds to twenty six point, nine billion pounds in the latest waspy. That title would be just about one percent less than last year. At the same time retail beef prices remain high relative to current production and following the price surge in the wake of corona virus disruptions retail choice, beef valiant June was nearly seven dollars and fifty six cents, a pound that was take lower than in May, but a dollar five higher than in January according to Griffith. The all fresh retail beef price was around seven dollars and thirty eight cents, a pound up thirty four cents for May and a dollar forty six higher compared to January. Despite week to week gains and gala features and recently higher cash prizes, cavs and fear kettle sold mixed last week. Steers and heifers in the south central region, traded three to four dollars, a hundredweight higher, according to a mess in the North Central and southeast region. They sold from three dollars lower two dollar higher. Ms Analysts Note. There is a big increase in north central prices the previous week due to some annual specials that brought reputation single strains of cattle to town. Fear cattle futures closed an average of thirty cents higher on Friday week to week. They're an average of four dollars and forty four cents higher across a range of two, ninety, five, higher to six, ninety, five higher in spot August. Griffith explains the August fear cal contract traded to its highest level since March fourth and has gained more than six dollars since the Independence Day holiday. He adds the. August fear. Cal Contract is still fourteen dollars lower than his contract high in early January, but it's twenty six dollars higher than its contract, low and early. April. In the latest monthly last doc, dairy and Poultry Outlook E R S analysts say expected higher fit cattle, slaughter and increased feed lot. Marketing should improve demand for feeder cattle heading into the third quarter. Of course dry conditions could have plenty to say about light summer markets for the first time this year over half of the country in some sort of drought designation, according to analysts, the last time that occurred was the middle of September in two thousand, eighteen, specifically fifty one point, four percent of the continental us was designated from abnormally dry to extreme drought in the latest US drought, monitor for July fourteenth at the same time last year. It was just nine point seven nine percent. For the week ending July twelve thirty six percent of the nation's pasture and range was rated in good or excellent condition, which was thirty two percent less than last year according to USDA's crop progress report. Conversely thirty percent was raided in poor or very poor condition compared to eight percent at the same time last year. Major US financial indices closed narrowly mixed. Friday pressure included the expanding number of coronavirus cases. The Dow Jones Industrial, average closed sixty two points lower, the S. and P. Five hundred closed nine points higher, and the Nasdaq was up twenty three point. USB exporter typically viewed in terms of tonnage dollars in the impact on the US beef industry specifically, but the benefits run deeper. Since two thousand fifteen indirect exports of corn and soybean through beef and pork exports have been the fastest growing category of corn and soybean use according to the Meat Export Federation. For perspective, US beef and pork exports. Last year used four hundred and eighty million bushels of corn, generating one point eight billion dollars in revenue. US. Beef and pork exports last year also used about three million tons of distillers dry grains with soluble. Rating. Another four hundred eleven point eight million dollars in revenue for ethanol. Mills co-products as well US pork exports lashed gear utilized two point one two million tonnes of soybean meal, equivalent to eighty nine point, two million bushels of soybeans, and generating seven hundred and fifty one point, seven million dollars for those growers snub to a different post, and just considering corn, beef and pork exports last year accounted for more than twelve percent of the annual corn price of three, seventy, five, a Bushel, or about forty six cents a Bushel. All that comes from a recently updated study conducted by World Perspectives Inc it helps explain why domestic corn and soybean growers invest a portion of their checkoff dollars in mark development effort conducted by US MEF. That you're Kelkar, America, they the light weekend and Monday morning the twentieth of July. This is where sexual thanks for listening.

US Griffith Slaughter USDA Kelkar August cal Peter USDA cavs North Central America World Perspectives Inc Mills Andrew P University of Tennessee Meat Export Federation Dow Jones Industrial
How to Determine When Its the Right Time to Hire Your First Employee

Thrivetime Show | Business School without the BS

1:06:13 hr | 5 months ago

How to Determine When Its the Right Time to Hire Your First Employee

"Hello America my name. Is Clay Tron Menendez on today's edition of Prime Time? Show we answer a question from a thrive or who asks one. Is the right time to hire your first. E shows don't need us liberty narrator to introduce this show this show dot to eight kids co created by two different women thirteen multi million dollar businesses ladies and Gentlemen. Welcome to thrive time. Shaw Yes yes yes and yes Dr. C. Ecstasy when you are next to me. Well you know when you say four yeses to kick off a show. I know it's going to be a fourth quarter game. I mean you gotta you gotTA show up to all four quarters when you only give three yeses. I know you're kind of their. You're going through the motions. You're you're on payrolls. He gotTa do it. I get it to forget about it. Halftime we're over work done you know and if I came and get one yes out of you who. It's going to be a long day well. Today's show Z. It's GonNa be incredible because I'm going to say yes. Yes yes a lot but we're going to answer a question from a listener by the name of Blake out there. He is an attorney. Okay and he wants to know. How do you know what's the right time to hire your first employee? Ooh He's owned his father's law practice since July of two thousand nineteen and he's been growing his business is client base business has steadily growing portfolio steadily. And he's recently opened up a new branch in Salt Lake City so he's growing portfolio cool and but before we get into his question. I wanted to talk about something I talk about a lot. And it's called being trump tastic. Okay okay all right so Zd Remember the economy. Do you remember the year twenty? Sixteen I vividly. I remember the year. Two Thousand Sixteen okay. So how long is trump tastic? Been in office going on now. What the third year? So let's just say you are listening right now and you do not like him. Okay I'll I'll let you have that fine so let's just say you don't like him. Let's do this. Let's look at the Dow Jones Average Andrew. Put this on the show notes. Okay on the show notes and today's show notes are going to be on new labeled as ten twenty nine. We'll go back and change it but to tend to and you can find it and look for a Blake recently edited document so twenty sixteen seventeen thousand nine hundred. Twenty seven was the peak the peak the peak. And I want you to put this on the notes and you can find Andrew by searching for twenty sixteen Dow Jones average got it. The Dow Jones Average Zeke. Can you explain roughly in Layman's terms? What the Dow Jones averages or the Dow Jones average is kind of a false narrative in some regards. But they try to do their best. What they do is they take an average of top companies and and how those companies become top companies. They choose them and every now and then they changed them. I remember a few years ago. They actually changed and added a few more tech companies and took a few more industrial companies off there because of trying to keep it relative to today and really what that is is a snapshot in average of companies. They chose a why they chose him because they think the best representative of the overall dowels health and the Dow is a is an exchange the New York Stock Exchange. And so you know it's kind of that number is it does represent every single entity change. It doesn't and I don't know exactly how many angry probably Google that and see how many companies are actually included in that number. What would be your guest clay? Oh boy also hundred. The Dow Jones average right now. This is today. This is according to Van. Vista Pedia is an index that tracks thirty large publicly owned companies trading on the New York Stock Exchange. And the Nasdaq it. Just thirty companies. Thirty companies is named after the Dow Jones is named after Charles Dow who created it in eighteen. Ninety six as a way to sort of keep track of how the economy's doing overall right right. It's it's a snapshot picture. But it's a snapshot so in Twenty Nineteen Andrew. What is the Dow Jones average right? Now like what's Today. The average rate today got up to twenty seven thousand one hundred and fifty three point seven thousands if you think about it. Let's make this easy to picture this. There's senator thirty thousand points in the history of our country and we got to sixteen thousand points previous trump getting an office. We've now gotten to twenty seven thousand in three years. Now you understand. Sixteen is half of thirty two so we got to thirty two doubled. The Dow Jones average wrecked and doing in three years. What no other president has been able to do. I mean in a long time now the size and scale the economy. I mean not making it easier to gain faster but you're doubling some would say he's writing the energy or the policies of Obama. Some would say some would say that he has. Despite the Obama nations. I mean bad policies of Obama was previous community organizer. Maybe undo the things that were in the way such as legal entanglements and and all this ridiculous jackassery with healthcare. But what's happened is the economy now has grown from sixteen thousand to twenty seven thousand dollars or twenty seven thousand points on the Dow Jones average. I would just say right now. I am very excited about what's going on with our economy and I would like to say that things are very trump tastic right now. I would say I would argue this. I'm GONNA be because we have tecate fight because that's what we do. We get along though. I would say that the average person on the street could care less about the Dow Jones average. I would say as well. I agree but I do think he's rolling. It creates job okay. Well now you're taking. I'll let you have your narrative. Let UNEMPLOYMENT RATE IN TWO THOUSAND SIXTEEN. Pull UP UNEMPLOYMENT RATE Two thousand nine hundred employment rate in two thousand sixteen got it and I think. Here's here's saying my God rest. His soul put a permanent which you can't don't he put that makes no sense. I didn't know why your work permit Robert always put a perm scarlets boot firms need an axe school it on next to kill a man. Robert Dad used to say you know. Hey all my kids are working so it must be working. You know what I'm saying. That was his measure of it was jobs it was it was availability to get jobs and that again. Hey all my kids are working so it must be working and whoever was in office at the time it was a it was an indication that he gave his stamp of approval that the economy was doing well and his and I think I think more the average guy out there average person is job job. Availability Company right now that. I can't say their name but on our show today the Secretary of Commerce on. You're talking about a big company that just decided to come to Oklahoma to set up camp and their biggest problem is finding people to work overcharged people. That won't work at all. They just refuse to work. Well that's a whole nother. That's a whole `nother show a whole `nother topic but the point is is i. Think the measure of employment perhaps is a better measurement for the average person. On how hell to me. If you WANNA work you can get a job right now. And I think that's the bottom line before you might WANNA and they'll entire let people off a while. They're at the gas station local gas station on June up there and there was a guy out there in front of it. Who would sit out there for hours at a time? And he was holding signs now hiring you know he was available. We'll Bernie and I thought he was Monka for a long time wise phrase. He always told me you'd only have to work ten hours to have a full week. Now he said you can't go back to work until you learn how to work. I'm like I'm paying like uncle. And then my parents pointed out. This is not your Uncle Bernie. And he's not joining you at the gas station to be with you. He just lives out front of that thing. He's a hairdresser that puts the perms on the frogs in and so then I realized that that really all the advice I had been given was wrong. Wow until I realized I was. I can't be up late night. Learning to twerk world fish face talk about just having the snacks athlete was different than I thought it was forever. I thought Uncle Bernie's the wise man. He dressed up and kind of earthy Rustic Book of Wisdom of plant material being in Duck Dynasty before it was a show in great shape though. That's good okay. So what's your what's what's what's the what's the what's that employment. Then and now so then twenty. Sixteen it was four point seven okay. That was the year that trump was elected and then twenty Today three point five I met significant trump as people will tell you the in the knowledge in the industry and the knowledge of this industry of unemployment numbers and there were a while there was some kind of weird narrative back in the great recession. You guys remember that even old enough to remember that amount as young as you are the first thing ever welcome to the world whether the world young man but the narrative there was is that so many people be unemployed for so long. They became off the records of unemployment. So I know that sounds weird but it's kind of like after a year being unemployed. We don't count US unemployed anymore. We count you as I don't know what we count jazz but we don't couches. Which doesn't seem right. You're no longer. I'm not the one doing the count so I don't know I have no audio of President Obama in trump's of last conversation too with each other as they were you know because the new president introduced a new president he says. Hey this is the keys this. This is where the kitchen is is not going to end. Well Hey by the way the remote we've got one where that's missing the nine on it. So you're going to have to kind of this by the way there's a there's a weird Guy Bernie out front. You're changing houses. Hide your author. I've been living somewhere for eight years and you're like moving almost still photo move because eight years but this is this is Obama. He says trump says so. Hey Buddy I'm glad that you're here And then Obama says You know can I stick around for awhile? Can I help a little bit? You Need You need a little coaching there. Trump to have then trump tastic says. Oh Yeah what what would you? Would you be willing to stick around? Because I'd love to have you stick around now. Obama and this is the conversation. He says the final phrase the the the the the rumor is that trump said Mr Obama. Would you be willing to stick around? And this is what Obama said next fired. He didn't get a chance to speak and he just He we he said now so he says abrupt is I kinda like that is like Conan. O'brien who always would tell people that's a great idea for me to poupon. Yes do you WANNA stick around? Because I'd like for you to stick around and then fired see. That's that's not nice as well as they have a problem with his tongue his tone town. It's a great tone. That's making unemployment. Go down the economy's growing but the issues it with his tone all thanks to the but if he would be calmer and he'd say everybody we're going to build a huge wall and we're going to lower taxes is everybody okay with that is. Is Anybody Interactive with Gluten today? Are you guys OK. Well you have a day off of college to feel to think about how you feel about this. Are you guys okay? If you would talk like that I think is behind therapy dog. Okay so anyways I just WANNA throw out. People have asked me what does it mean when you say trump tastic? I'm just saying it is fantastic. It is trump is a growing economy amen. And if you don't like it you can listen to a different podcast. That's okay so now we've got a questionnaire listener Mr Blake who wants to know about what win to hire the right person. So this is. I'm going to give you the Big Principles Z. Is going to provide the color commentary in India? Right down the five steps you get in step one one right down all the things that they would do if you hired them like make a list of Josh. Living water gets her. You have employees. We do if you're not careful. Can't they do nothing? If you don't have a plan for them real quick in a hurry what did you do today? Oh see WANNA write down all the things they need to do into a checklist or a script Aka key performance indicators. Give them something to do. Step number two from our Home Office. Then we'll recap on all five recap step number two. Is You want to figure out how much more money you will make it. How much of your time? You will have back if you. How much money will you make? And how much time will you get back if you do hire them? Step number three. You want to interview a lot and hire fast and fire fast interview. A lot of people a lot of people interview a lot of people step number four figure out. How much will it really cost you to hire this person and step number five yet to figure out how long you can afford to keep them around if they cannot do what you need them to do so Dr Zone? We'll start with move number one a way to say I just you know what I would do. Blake. I would take all five of those and just throw them out the window and go. Hire somebody for God's sakes if you have a business you need an employee there you want to be the winning answer the phone greeting out the door. You don't WanNa be that guide you know. Hey I just opened up this branch office. I'm the only one in here. I gotTA GO. Fix. I got to go and get the Kovno even going up you right back early. You saw the first person is easy to decide. The first person is easy. You say I I. I want to do everything on my own. What happens is you earlier. I brought up the Dow Jones and you rebuked review somebody out there not Blake but somebody out there. 'cause I remember when I had to hire my first guy? It occurred to me. I need to hire a guy so I got three jobs. Applebee's target and direct TV. And I did you hired a guy right but a lot of people like I want to not blake other people. I WANNA hire guy but I don't have any money to do it. That's what somebody's thinking right now not our listeners. But the friends of our listeners. You know the people the Bernie Sanders people well heroes people. Here's the I'm going to give you guys see. I'm GonNa give you guys just a little insight into owning the business starting a business continuing on with the successful business. Yes if you don't have a war chest built up To pay your rent the addicted to do some advertising nice to have a phone system yes own. Maybe even a fax. If you're old school like me you just kidding. Create who didn't like having a activity. Hey baby once you. Who is the facts that on over? I mean I'm waiting on. Your facts are waiting on my way baby. Do the machine just lit up here comes your own her daddy. You're well so what I'm saying is is that Blake when you open a business youth. You've got to have a war chest. That more chest is actually having employee employees. I'm not talking to high level employees. Which only talking about the answer. What you signed for. Ups packages that show up. When you're in your meeting I mean you've got to have someone to represent the business contractors Dr Vilna. Otherwise you have a sign on the door. I don't WanNa make myself employers. I won't contract because I want to save the money. Otherwise you gotTA sign the door. That says busy right now. Just fax it on over. I want to save the money the money no one's here we'll take your facts as there's just a fax number no email that's easy. I want so bad that somebody out there right now. Who is saying to themselves? Though thing fails I do want to hire somebody. That will require money so. I'm GonNa make them a contractor and whenever we aren't GonNa thin them home expect devout loyalty. That's not the way it works. But I'll tell you what you know what I'm GonNa do. I'M GONNA take a line from Justin Bieber. I'm bringing facts. Oh I'm bringing facts back the why don't you just go fact you'll feel well? I'm I'm back to co now seriously though a Lotta Times Andrew. You've seen this. Yeah you're in a meeting yes. How often do people want to avoid hiring hiring employees? Every time everyone wants to go the route of Lynch's let's just call them up whenever we need them. Daughter Daughter's Doesn't speak well Oh yeah. She's cheered we're GONNA WE'RE GONNA do all the contracts. Now Okay Josh. How often have you seen this because you have been? You've been implementing system so much. Have you grown? As a percentage in the last two years unless two years were up Actually when we just did the mess so we're up a little over six hundred percent. Since the day we shook hands Mr Clinton you on are you on. Are you on you? Were on Good Morning America. You've had your bill if you google. Tulsa man buys eight billboards to declare his love for his wife. You'll find proof of this josh with living. Water Irrigation WH. What Josh Keep. If you just fax that over half the number I kept trying to look at. It just didn't go there. Hey baby baby baby baby listen baby get up in the morning and before your Second Cup of coffee. Didn't go in there and check. The fifth makes them on a path. It'd be could be something that you might be interested in. What all throughout nation right. Now if you listen to this show just absolutely naked into the seriously. Ill people people that happens. They don't WanNa hire an employee and I hear all the time all the time. Well we struggled with it. I remember two years ago doing at the conference action. Asking doctors owner literally this exact same question. So you've learned learned through this. Win is the right time and I. I remember at that time sitting down and doing the math. How many hours of my working? How many what would it free up for me to do sales development in your answer at the time doctors? I remember like it was. Yesterday is whenever. There's two more work than I can get done in sixty hours. That's your answer. That's on us. Ed Joshua if you if you sat down and you put all the duties and responsibilities together can you get it done in sixty hours. I was like oh no working like ninety news like okay. Time for an employee at time to put that new new That new printer. Who did who is the fax machine has put in its toner. You've got to have a Tony Tone. That would if I could borrow your Max Machine. I could probably go. Oh no no no no no a lot of things. You could buy me but not much facts. What had happened was talking about fact with the out discombobulated you know just being fairburn with started coming out. Neth. Why went to jail for a while conventional voice? I don't know what he's GonNa take the show. I don't know he starts doing his thing. And it gets weird weird. How much money will you make as people hire non needed people? This is one of my favorite things about government. Shutdowns see explain what government shutdown is. I'd say this because we have the government is spending more than they have so they ask the they say. Are we going to print more money? Correct or are we gonNA shut it down correct and every time they shut it down. People don't understand this idea. They only lay off or put people on Furlough or time off. Who are Non Essential? Which is hysterical. Because they have a job anyway. A man a man the military still works they're laying off like librarians and by the way they should be laid off because no one goes there. If you've been there you scare people. There's like one person a day. It's unbelievable it's like you look on your taxes go. That's a library. That's a place. No one goes to. We should subsidize. It looked at some museum. We should go to subsidize it. That people don't go to. We subsidize it with government dollars so the government shutdown occurs and we lay off ninety central people until we can figure out. Do you guys want to print more money burns? Barnaby bragging. We're AKI. I thought we were well. I don't WanNA cause hyperinflation but orcas over inflation some inflation's let's talk to Greenspan Greenspan. Bernardi what are you guys WanNa do? Let's print the money so you print money people think it's like a fancy complicated thing just printing money. I mean what Alternative University living where they can just print money. Remember the last time I printed money to make payroll was. How Fun would that be? I mean seriously I mean for those of you actually balance your checkbook bullied you actually balance your checkbook and you realize if you don't have the money in the checkbook and you write a check it well what we call bounce. Let's do this. Let's role play. I want to be the Department of Education. You're going to be the federal government we're playing president cylinder. Okay well you are going to ask me for a viable budget to balance the budget because you have decided as president of these United States Department. You've asked the military education you best every department to cut something cut cut. I am now going to respond you rather than your fax machines and your paper. President of facts President Zone or you want to see me sir. Yes yes. I'm working on the budget director of Education Secretary of Education. Whoever you are and I have found out much of my horror that over the last X. number of years we actually as a country have been spending more than we've been collect. Well I just WANNA start off at the because this is something I just WanNa say. I feel like what you're doing is you're hurting the kids and I just WanNa ask you. Do you care about kids early. Care about your country or do you care about a bunch. Because I just want to know that well I care about all three actually and that's why I'm meeting with you because I think we can tighten our belt. Well I have. I have a video of third grader in Detroit right now. Who can't afford books and this is the voice is GonNa keep changing as we can't afford to buy books like a country person. This person can't afford to buy from Detroit those Sir and there's a lot of crime look at this video third-grader crying right there. Larger holding up visit. There's a kid out here in his in third grade Detroit who can't afford to get themselves a stabler and we got to cut the budget. We don't hate cats hurt. You hate yourself. I guess idea your Inner Child. I guess they do go on. Cnn and Fox. And I'm like Cherry who somehow it's unethical to balance a budget. What the crap. Here's the problem with balancing the budget. You guys don't like kids. Get off our podcast. If you think that way you freak and Bernie Sanders Fan. But here's the thing and because Bernie Sanders France to hear this more than anybody. So don't get off the pot. Come back give me two minutes completely. Redeem the scribe resubscribe. Yeah and if you if you hang in there an email me out I'll send you a fax okay. We unsubscribe click it and then back to like a double tap to send you. I said look. Here's the deal. The problem with the balanced budget is everybody's upset everybody. Everybody's saying the military cuts education takes them cuts every service that the federal government does take some cuts across the board and nobody. Nobody wants to take a cut. Because here's the deal. Everything that were involved in is the most important thing. Can we cut something? Yes we can we can. We can and you can. Yes we can and so the problem is is that there's only so much money there's only so much money unless you're little John. No no unless well Obama or people. Who are the rich guy that everybody wants to rob from you do realize that? Sitter Little John. Would you like to bounce? The budget is what he had to say about. He says Oh. There's a lot of money trust me. We don't need to worry about a budget. Then they said that yeah. Well THAT'S THE PROBLEM. Is that there is a lot of money. But there's a lot of money going places that it shouldn't be going and it's easy for us unless it's that place. That's our place for us to go. We'll go in there right and that's why it's Kinda good settlement to businesses. That are fighting over something. A judge hasn't really come to a good settlement to both parties are probably disappointed with the result. Neither one got what they wanted. That's good and that's the problem but the problem is now is living in a Republican as we do. Some people say it's a democracy. It's technically a republic in my face. But here's the deal. Is THAT WHENEVER. You'RE RHUBARB GETS RUB wrong. Then you're upset you'RE RHUBARB GETS RUBBED WRONG. Bernie talk to me a lot of. I know and that bathroom out there by. Where'd you get money taken from the industry or the section of likes that you'd think it should be there? Then you get upset about it. And then you factor your congressman and a lot of faxing said. Stay up late at night. You drink a bottle of wine and you just facts. Away flashback to pull me aside. He's coming into this bathroom. That is attached to the car. Wash about a show coming here. I'm GonNa have you ever been in a Turkish remember? My point is my point is is that is that it's it's difficult and I had a friend once. Tell me this and this is a true statement and it deals with this and that is even a fat healthy puppy will wine when you go and win them from their mother's teat. Think about that for a hot minute coming here in Australia. Might Stop Thrive nation. We're I'm sorry. I'm trying to keep it between the rails so bumpy. My point is those in order to balance the budget. The the problem is you have to upset so many people upset seniors. You have to have you know the healthcare industry right. You have to upset the military you're upset education and the problem is we've let these things drifts so long that they feel like it's their right to be able to drift. And if they think they can just deflect all the attention on the other people then they can keep their slice of the pie their share of the Pie but folks. The Pie is only so big. And now we're trillions of dollars in debt. I mean I don't know I mean edgy could probably Google amount of everybody. Cut a cheque right now. Everybody Baby Young Person. You know old person middle aged for whatever age you are type of national debt clock right now you can listen to real time. The numbers gravity folks. It's crazy and we as a nation have to understand it's going to it's going to hurt. It's not going to be fun to negotiate this deal to where we say. Listen we all have to tighten our belt. We all have to understand that we have at least we. GotTa Stop Ready to hold. We gotTa Stop Digging Andrew. I want you to take twenty three trillions. That's where it's at. Yep Twenty three trillion. Divide THAT BY THREE HUNDRED THIRTY MILLION. Americans and that's the check will catch stoop. Yeah so it's it's got the debt per citizen right here. Already made for purrs citizen citizen at sixty nine thousand dollars. Four hundred eighty six sixty nine thousand four hundred eighty out to raise stroke. Check for Bases Seventy K. What's interesting there's only. Us CITIZENS WE'VE GOT A. How much are people live at the United States citizens? Probably what ten cents at seven seven percents still seven people. I live with anybody who comes across borders immediately citizen. Oh there you go in you know what I was on grew up reading Bernie Sanders website. My bad confused with agree with you. Okay so here's we're GONNA do now. We're going to say that one you hire somebody. You got to write down all the things that they would need to do if you hire them. Okay you got the checklists the scripts because I see a lot of people hire people Z. Good people give the do. Yeah the higher so but they have nothing to do all. They'll figure it out so step to how much money you'll make and how much time you will get back so talk to me about buying your time back even if you don't come out ahead financially here's why would you feel into that because. I mean a couple of Personal workshops ago. You asked me that question. A context catch on that again. So the answer. You gave me what it's done for me so I remember as I get working more and more and more hours and seeing my wife less and less and less when I asked. Yeah it was. It was at that exact time when we were we were growing and it was awesome and but I was not ever home and I never played golf and I never went to dinner and I never saw kids or grandkids so when I sat down and did the math on that when we talked about doctors owner was if I bring a person. And how much money does it cost me right but also how much time of my own does it? Free up for? Dual-purpose number one for home life and quality of life and slowing down the rat race a little bit but number two also gave me the opportunity to earn more business and grow more business and spend more time on the higher end on the higher end working on the. The big vision working on the business city in the business so the math for me when we sat down and we quantified it. It was super simple. Halen me hire a person then went to hire that person that got them. Busy was wait a second. Let's hire another person because here's the thing about it. Frees you up to the superstar sales person that you are and if you give that to somebody else do they're never gonNa have your enthusiasm venture they Miami. You have the script. You have the coaching you. You role play enough with them and you get them there but day one. You're going to be the superstar. Go out there and do that. So you're harder to replicate so find someone you can do. All the grunge work all the detail. Work all the faxing that you're doing throughout the day and that frees you up to go do the you could go hunt big animal you if you could please go to doctors. Because I've had a conversation with quite a few people as a race that are advocating sales to other people. We had a conversation about a year ago. You and I did in this room yes about what is the one thing. I should not hire. What is the last person I should hire right? And your exact answer at that time was sales always go sell. Josh? Until until you until there's more business out there than you can actually get your around or you're tired of it or you know what you've got the machine going well enough or you've trained someone to step into that unfortunately as an entrepreneur as a business owner as you are. Josh as you are clay Andrew you put in the same category to think about is our enthusiasm for the job is like our enthusiasm for our children. I love and and really appreciate Claes kids I really do. I mean they're great kids all five of them. They all have their. They'll have their little quirks now. Have a little fun things about them. And and they're beautiful charming well adjusted kid. But I'm never ever GonNa love them as much as clay and Vanessa do. It's just the way it is right. I mean I'm not never loved. Let my kids as much as I love cuddling with Dr Z. Y. You haven't seen out. I was reading the CUE cards. I actually wrote those road by Henry. Clay I'm sorry. I'm sorry we're a little off off tilt okay. My point is and you have to look at. Your Business is as a child. I mean really you do and the way you raise it through the different phases of it clay as a beautiful analogy for that a story that he has and educates people that are in starting to business. Here's you treat the Business Day One. You do differently than ten years into it because it's a different child. Okay if you treat your ten year old like he's an infant. It's not gonNA go. Well Trust me same thing in business and so as you develop your business you understand. There's things that now if you're an introvert and you're not very good at sales and that intimidate you and you have a problem with that and yet you've hired a rockstar salesperson. Then by all means that then go out and do their job. But I know Josh. You're going guy you're charismatic. Your handsome man. I mean that's probably why you get stuck in back yards doing pool pool A lot. Whoa I don't know our Gatien. Did he go back to faxing again? I went back to fax over a picture today. But my point is like a little silly there but my point. Is that when you find out? What your superpower is in. Your Business. Don't hire for that higher for the keeping you from Douro superpower. So what are your superpowers is going out and meeting people and making the deal and talk to them. Because you're very nice are easy to approach and you're good at that and that's what you do and that's how you're building your business and then you want to have the people behind you to support all that okay. 'cause now you're having to do that and support yourself higher that support a right and then here again. You could free. You have to go do more and more that true today. You'll be like you probably read my last estimate I mean. I think I'm to a point now. I've got two or three guys that are out doing estimates. Yeah they're not me but they're close enough. You know I mean there are ninety ninety five percent of me maybe ninety seven percent on a good day and that's good and so that's kind your mindset is what's the best use of your time right and yet then how much time do you want to give the business more. So it's like a rocket fire in Iraq and the Air Day One. It takes a lot of energy a lot of time. You have a lot of effort and then you get into orbit around. The earth is just a little little little little here. Can you pass? The Houston has used it in fact we don't have a problem but my fax machine broken so in fact we have a problem. Houston I watched that video about how to space. But I really didn't I can. I faxed to U. P. IS FLOATING. Ice Cream is floating. Here's here's jamming. My Fax Machine Astronaut Clark can see Kyrie Irving out here and it looks not flat. Houston back I don't know how he got to astronaut school with that head. He's there's no problems up here. I'm in orbit factories backward again. I'm good I'm good. Y'All had the Bernie Sanders supporters back up until that bit. And then you just dial okay. So we're going to do is I'm GonNa tell this listener specifically what the person you're going to hire should do because I've helped law firms do this. Okay here. We go step one. We're going to write a call script and I'm going to call you. Josh and I'm GonNa pretend that you are a a Somebody who would need my services because this guy is an attorney. He offers a state planning that kind of thing. I'm ready. I'm on the phone with Josh with living water. I'm calling you as an attorney. Okay just a bullet. Hey this is Josh Sir Josh. This is a clay Clark. I'm calling on behalf of Yada. Yada trusted planning attorneys and I was just curious. Have you made a will for your family? So that way you know if something unfortunately ever happened. That money's going where it should be going in the state does it take to probate. We have not clay well. Unfortunately nine and a ten business owners don't have a will enforce which is bad and I have a really good stat hard stat verifiable but I would say and I know this helped farmers insurance train their agents for years but I would say and unfortunately the vast majority of people when they pass away. Don't have a a will in place so then it goes into this horrible process called probate in the state fights over your money into pain like a huge death tax and all all is just a piece of paper. That's in the way so I'd like to meet with you for ten minutes to show you how it could save you. Hundreds of thousands of dollars. We will be a good time to meet for ten minutes. I could do next Tuesday. Two o'clock so put that my countered. I'm gonNA email you references of fifty business owners who have helped to help them plan their wills with her cell phone numbers and if you just made me call three four ten fifty seven whatever before we meet that way you feel good about it and read our reviews online. We'll meet and hold meetings. Take about thirty minutes perfect. Could you facts that list to me? Absolutely I love faxing but that's what we do and that's it perfect. All that person has to do all day and the average cold car one of the cold callers that I trained up now. Works for Redmond. Average is two hundred fifty calls a day outbound and has helped It's unbelievable how many set for Tim. The average cold car who works for Tim Redmond makes two hundred calls a day in eight hours. And what you need to do. Is You need a a phone. Use CLARITY VOICE DOT com. Don't use something else to use clarity voice. Dot Com the calls recorded have a script that makes sense and as you point out early role play role. Play role puts a can't get it wrong and then every week every morning actually you take fifteen minutes with this person. You play back. Random calls from yesterday and you answer their questions and after about two or three weeks of that. There are so good. You'll need to meet once a once a week and then once a week you play back calls and you train them and you will make millions of dollars Mr Attorney. That's how you that's how you do it and that's it. That's literally great. Actionable stuff what they do and it it works and but I do with call scripting which is really weird. My wife thinks I'm weird but I'll get a cranberry in a vodka so and then I got what step one but don't think you should do and then I write the script and then I read the script I record it recorded and then I act as though I'm the person who's answering it on the second track. Do Argue with yourself. Why role play with myself? I tried to get houses with actually sound and once I get it to where it's good I then give it to a client. Usually I've done it so much. Now I can. Ride it intuitively but the key to. It is thinking about the rude things that somebody else would say. And it's hard for me being truly honestly with a completely clear head Where I'm like in Alpha mode to think about the root thing somebody would say jackassery. That's going to happen because it's always meaner than you think it will be and you're not prepared for it so you make script that thinks of the root objections ahead of time. It's colder rude interview in the First Guy. Paid Mike Levin years ago to help me with some PR stuff. I paid Michael Levine. As recently as October again and Michael Levine is the PR consultant for Nike and Prince and Michael Jackson and bigger names throughout their careers and Michael. A Charlton Heston George Michael. Big People. He does a route interview where he says. And see you and I didn't interview. I won't mention the name of the place but we didn't interview a big national publication back in the day and you remember like the person interviewing us was rude. They start off by saying how could you possibly say that you could help a business owner grow business without a degree when you have have a degree you remember that. Allegra start off that way. And you're like well I'm an optometrist and I didn't have a degree for that but for other businesses. You might not need when we need is a skill and they were out for blood. They did not want to have a discussion. They just wanted to have a debate. They just wanted to have bullet point two. They can make it controversial controversal and these guys think they didn't do it because they didn't go there. Gotcha questions that are different than the questions they sent me to prep for so a good publicist which I've hired throughout my career. I've hired a multiple firms. They will do a route interview with you and they will ask you rude questions. Like I think you're fraud-proof to me or not right and you're like you wouldn't be ready for that and that will happen on TV TV's about heads so you WanNa have a root interview because man people in the Rolpa with your team. You should with them so much. They don't sound like a cold caller anymore. That's that's that's the real business there. That's the real interview a lot higher fast and fire fast Z. Please explain why you WanNa hire fast and fire fast while you always want to be interviewing explained to somebody out there who says why would I want to interview if I don't have a position to fill whenever one you're going to have a position before you know it and because people will do what's best for them oftentimes that means that they've already got something lined up? They don't tell you about it. Come on with day. They show up for the site. See you later alligator. And then you say wild groggy. Dial and they're going and they're gone then you look around and go. Wow I wish I had someone in the queue to take that spot. I've got. He was not taking your words of wisdom. Okay here this is what usable sound like videotape. Somebody else audio will sound like if you don't implement the Doctor Z. I'm GONNA give him he's GonNa go for it and he's explained exactly what to do but somebody out. There is fighting fighting. They're saying no. I would never leave me this audio of somebody after their team quit unexpectedly something bill. Are you okay in there? Is that Nancy Kerrigan. After being hit with a petanque from Hark. He regained his. You're doing if you're doing what's best for your business. What's best for your businesses having someone in q? That means in line in waiting in rotation come on board with the possibility of being hired. They're excited you're excited and you're waiting for that opportunity for them to come on board so when you need someone extra you've got someone in the queue in the line right in waiting if you somebody quits you boom. You've got somebody. Girardi kind of vetted now the reason why I always say hire fast fire fast is simple reason. One there is no way. And the God's Green Earth no way it's probably mostly blue but we'll we'll say green aqua aqua aqua aqua. There's no way that you could do an interview with someone and predict with one percent clarity that they're going to be a great employee. Eighty five percent of them. We're GONNA lie on the resume. Greatly INC magazine according to put on the show notes eighty five percent of themes are lying on. That's a big stat but it's true yes and then again. You have three out of four people that that are stealing from you already. They're already punching your clock. By the way chamber of Commerce reports. Seventy five percent of employees are stealing from the workplace. A big number as their numbers are freaking. Somebody out right now. But they're true true we can't make. I can't make this. I wish I could make that. He wanted to make this clever enough to make up that to make that up but my point is is that is that that you can't really. I mean everybody. They don't interview. Well then you the right to you. Don't even think about hiring them. But somebody interviews. Well you look at the resume that check boxes hire them and put them in where it really matters and that is shadowing her or or following you around or coming in actually punch the clock and working and then you measure them really really matters and that is can they do the job with excellence. Can they learn or they coach? They have the right character about them. 'cause that'd be we can take this guy's a high character guy come on board and they ain't high Garra Yulon. Mosque couldn't be here today but he wanted me to chime in with this. I think he wanted me to. He said this he said Vatutin. Tell you that beyond must by the way he's the man. Behind pal- TESLA SOLAR CITY SPACEX. Neural LINK IN RUMOR HAS IT. Ridge rumor. We started right now that he's working on facts technologies on on anti. He really has a net for anti well. There's some artificial and there's some really bad stuff having the I right now. That's really talk about that. I didn't want you want Google address. I'll talk about it. I'll talk about it One of the things that's going on right now is people are automating things that could kill them because again the the the people who wrote the federalist papers our founders. They talked about that. The average person will give up security. No no no. They won't know see they'll give up their freedom for security. The average person will say you know what Z? I'd rather have a decent wage guaranteed to me. I'm willing to give up all my freedoms for that security interesting so there are people right now. Who are not aware of this. I have a cousin who ride in a car for a major car manufacturer. Where is a driverless car? He rides in it. And you drive in the car and the car goes from A to B and use easy. He's a tester well. I have a person really close to me. Who has one of these self driving cars and interesting but he hit the button where it goes into self driving and so we're talking with great confidence. He's talking demonstrating how this thing can go around the shirt out meeting and all of a sudden we're going hard right like hard right down. The exit ramp exit ramp closed right now over there by the airport. Tulsa AIRPORT THERE. Yes never have. They closed down sixty nine. So we're headed off. What is going to be our certain death and he's talking to me because the thing is reading. Gps UPDATES that were put in by person. And I'm like Hey. Hey Hey we're probably a half mile but I'm nursing two cars doing this and I'm like do you. I live here. That doesn't exist right now. This is this is a thing and he's like. Oh my bet. I'll turn that off. He kind of did that awhile. Back to kind of like. What do you mean it did that kind of? Wow what a like. No No craziest thing. I was reading. Some paperwork was driving true story reading paper. You're reading a book while driving reading a book and start to go this way and they hadn't completed this little overpass driven to your certain death. So this is what happens. It's just automating jackassery and people. Don't think I'm going to give total control to this experimental technology. That's based on. Somebody had to put the data in there. Another thing is biased. So let me give you their dangerous thing if everybody Google searches right now. America's number one business coach. Type it in America's never business coach put the number of their new America's number one business coach. She's the number one America's number one business coach Google search. That and you'll see I come up top in the world now if you wanna Google Search Bill Bill Number One fan. I come up top the number one fan now. I have had on two occasions one for the business coach and one for bill belichick where someone has reached out to me that. I did not know to ask me questions about Mr Bill. Belichick and questions about business coaching just. Because I am the number one and this is a person who is definitely forty and I said to the forty year old. I said. Hey you know. They're probably closer to fifty. How did you reach out to me? It got my phone number from a book. I put my phone number in one book and he says I understand your bill checks number one fan. I WANNA do a show about. How LONG HAVE YOU MR? How long have you known Mr Bell? Check SA- podcast her. I'm like I have not ever met Mr Bell check. Furthermore I've got a cease and desist letter from the Patriots for talking about this seriously so I don't know but I do think I am the best but that's my opinion now. I got another bad situation because I'm never I'm top number one business coach. Hopefully you look at my career and my fax over twelve years of doing this and you can see that. I'm I am who I am but you just have to look up. I would say youtube reviews are probably more factual go on Youtube and type in Clark reviews you can see a thousand people sharing video about how I've helped them and that's a real thing but it's really dirty. I worked with a cosmetic surgeon. Many many moons ago not in Tulsa. This is dangerous. Okay I got him to the top of Google said you gotta get the most reviews from your real patients so this guy went out and just paid random people's -I and true story. You know when you read that chart keep was explaining why you want to read the chart about what Medicine someone's allergic to before having surgery. So you don't give them that medicine and they have an allergic response explained to the listeners. Hyper Hydros Hydros. Toy Palms sweat yet. What you would hydro says could be. You could sweat there. You can sweat other places too so this doctor operated on a woman who is coming in for hyper hydro. Because she was in her early thirties and her hands sweat profusely okay and he didn't read the chart because he doesn't read the chart because he's not a reader he's not a chart rate has lapsed her lung a talking to the guy and. I'm like Hey I'm just I'm on your website and I saw this email review comments from the person in a person might die. And he's like how do you make that go away? He says Oh no. He doesn't say there's no concern you can tell. This is what he does. This is his life. He's not like because this has happened before Chirp. So he's like I'm a cosmetic surgeon. You're gonNA have some stuff and I'm like but he's not worried about it but the thing is he knows how to manipulate the Google searches because I taught him how to do it so that he can push the bad stuff down and good stuff. See How many people go to page two to find things. Three Exactly for people in the history of Google. So what happens is a very bad surgeon was very top and Google which is why reserve the right to work through month to month and I just said I can't do. It can't do it because it's just shadiness so I'm saying you think that I'm the world's best business coach because it says it in Google. You Think Z. Your car I mean. Have you ever had your? Gps data turn laugh where the road is closed. Yes and when that crap ties into the way your car drives. That's dangerous stuff another example. It's really dangerous is I had a client. I worked with Google Wallet. Google take through Google. Well he lost got locked at a g mail so like okay. That's a problem. You know. Okay so it's like. How do you get back on locked out of my g mail? Well my phone and I keep all my passwords in my google. Docs that I use on g mail and I had my phone. You know so. I can't get my passwords so I guess I could call Google. You could call them. Hey Google so if I m but so I can't buy any. How does it yesterday so I can't buy anything because it's my Google Wallet? I can't buy anything. I can't check my email where I have my password so like so you basically have. Google doesn't pick up the phone and give you that password. You can't buy goods or services forever because everything is in there. Yeah yeah but it's convenient to move. People will change. They will exchange all their freedoms for convenience. Now you're talking about. Why Do you think that is laziness? Yeah pretty much. The concur my buddy Jo served in the military woman and his last name for his safety and that kind of thing but he served in the military twice Afghantistan and what he did is he went You're in the military for a while there. Josh and he was active duty twice. He served and he worked outside of the wire which apparently is where you go outside of the protected zone shirt and his job is to find leading terrorists into put a dot on their head using a laser pointer. Essentially can you. Can you explain Josh? What happens next then? The drone makes them go bye-bye so he calls in and goes everybody recalls in thing terrorist identified and three to one inch you sweat and then you hear from five miles in the sea a drone sh- flies and no one can hear 'cause it's quiet and he's watching with his little binoculars they had the infrared and he said multiple times. I noticed their head disappeared because thinking fly ever go to do and then they have these fifty cows that can shoot if they miss you. They take your head off so the cool thing about that. Technology is that's how we got Osama bin Laden. If you missed a fifty CAL view Mr. The pressure is so crazy. We'll take your hand off concussion. So Osama bin Laden they got Osama bin Laden using AI. Geofencing so what happens is if you go into a building that's being geo fenced and you receive a text or email it gathers that data and it knows who was there based on your accounts at the same technology used to kill. Osama was used like that can be used to kill you and we assume that government is good government can become corrupt and it usually does. Wow so I don't think you should give all your power need to go buy more handguns. We should we should begbie. You understand that you want invented online payment as we know it with paypal he has. Reinvented the power grid with solar city. He has invented a reusable rockets. He added cars that are electrical. That have unbelievable acceleration. He has invented neural Lincoln. That thinks for you link. I wish I had someone from if you look it up real quick. It's a. It's a chip. You didn't know about it. Yes you put the tip of the head you think. Type thinking that's cool but the problem is it can always know what you're thinking so if you're like I hate that guy to yourself types. It out types it out if facts is it right did. There's no need to make technology. That could kill us and you must sold thing as why would you want to make technology? You can't shut down now. Listen to Elon. Musk describing the dangers of I on an interview that appeared on Youtube. You can find right now. Called Ilan Musk's last warning about artificial intelligence on the red it storytime channel. Here's a lot of experts. Don't share the same level of concern. Do you do about the traffic? What is worth? What specifically. Do you believe that they don't well? The base is your see with so-called Experts. Is that? They think they know more than they do. They don't like the idea. That's a machine. Every way smarter than them so they discount the idea which is fundamentally flawed. Just wishful thinking. The situation I really quite close to very close to the to the cutting edge in AI. And it scares the hell out of me is capable of vastly more than almost anyone knows and the rate of improvement is exponential could see this and things like L. which went from in the span of maybe six to nine months. It went from being able to even go player so then beating the European world champion who was ranked six hundred then beating. Lisa Dole. Four five been world champion for many years then beating the world champion then beating everyone. Well thanks and we'll then then those elvis zero which crushed l. Go One hundred two zero and zero just learnt by playing itself and it can play basically any game that you put the rules in for whatever rules you give it literally. Rules play the game every superhuman. Nobody expected that rate of improvement. Gas those same experts who think. Ai Is not progressing. At the rate that I'm saying I think you will find that. Their predictions for things like go and other advancements have the batting average is quite weak. There's not good. We'll see this also with a self driving. I think probably by next year. Self-driving will be we'll encompass essentially all moods driving and be at least one hundred hundred percent safer than a person by the evidence here. We're talking maybe eighteen months from now on on autopilot version one which is relatively primitive and found that it was forty five percent reduction in highway accidents. And that's despite or about one being just version would Version too. I think we'll be at least two or three times better. That's the current version. That's running right now. So the greater improvement is really dramatic. We have to figure out some way to ensure that the advent of digital super intelligence is one which is psoriatic with humanity. I think that's the single biggest existential crisis that we face and the and the most pressing one and. How do we do that? If we take it that it's inevitable at this point that some version of a is coming down the line. How do we? How do we steered through well? I normally an advocate of regulation and oversight. I think what you're generally runs minimizing those things but this is a case where you have a very serious danger to the public and therefore the needs to be a pollock body that has insight and then oversight on to confirm that everyone is developing. A safely is extremely important. I think danger is much greater than the danger of nuclear warheads land lot and nobody would suggest that we allow anyone to just build nuclear warheads. If they want that that would be insane mark. My words is far more dangerous THAN NUKES. So like a lot of these programs are writing their own code now and they can't stop it. It's crazy so I would just say I. I'm not a fan of I. Don't think we need to be more efficient. I'm happy to live to be eighty some odd and die and I'm okay with that. I don't want to terminator back in time to kill somebody because that sounds like where we are right. I mean some company that went live on April. The there's a new terminent who thousand thirty seven. Tuck TUCK fast my name. Is Sarah. Connor August twenty nine nineteen ninety seven supposed to be judgement day. I teach the pincher saved. Three billion lives enough of a resume free. You know I may have the future unique. Change Our fate protects. You never seen one like you perform almost human. I am here many to some host care. What happens to her because I was her against the Very upset I'm going to help you predict the girl because of me you don't make it special. Paying whole body is a weapon. Mrs All I am going to kill you understand. I'll be back. I know this is theoretical and crazy but I'm just saying is is is a very dangerous. It's a dangerous thing that we're playing there. And so but he'll on muskie talks about when he's growing pay pal. He said that one of the things he learned early on that was the hardest thing that he needed to do. Was You have to fire people when it's not working and he's it's the most awful part of running a business you have to fire people when it's not working out so it's very very very very very important if you want to business right now and you can't get people to do their jobs. Higher fast fire fast. Final two steps for sake of time so that we have an interview coming up in. Just a moment is figuring how much it really costs. You see if you hire somebody for ten dollars per hour to actually actually cost you ten dollars an hour or is their taxes insurance. I mean what is it does not cost you ten dollars per hour cost you more than ten dollars per hour because there are other expenses that you have to office match and pay drones and Fico Fayka Medicare thinking about these things usually if you pay someone ten dollars an hour. It's ends up being about fourteen or fifteen in area toilet paper. You got coffee you got you got the fax machine. Fax Machine Workman's Cossacks Paper Tax. Or could you be sixteen? And the final point five. Is You want to figure out how long you can afford to keep somebody around. If they're not going to do what you need them to do what you need to do. Fire them immediately. The fire fast part. Can you put up with somebody for a day of bad performance or an hour? 'cause some people's you'll keep somebody around for months more ever does anything at all. Because he learned. Musk rights one lesson. I learned it. Pay Pal is fire people faster. That sounds awful. I think if somebody's not working out it's best to part ways sooner rather than later now but most people josh obscene. This they will not fire people. Most people mostly. What DOES BILLY DO? Oh I don't know billy people I would say. Most people that I've met through my process of coaching are in their forties and have never fired somebody to working with me ever ever and I'm going. Does that person do anything? No why don't you fire them? Because they're somebody's son or daughter vendor. The holidays are coming to have a soul. The holidays are coming out there. My daughter my friend my neighbor my cousin my wife or somebody's buddy with my wife and then gets into a religious discussion about. I think it's a religious discussion about is it ethical ethical. I real quick can I can. I can pile on that really really quick. So my company's named after John Seventy I have very very distinct and clear Christian views. It is wrong of you as a Christian to Miss Steward your funds. Your talents your abilities your strengths. Everything that God has given you his entrusted you with. It is of you to allow somebody to take advantage of that. So for other Christian businessmen out there and other people who want to operate their businesses along with the gospels. And how Jesus let us and did that. Please understand that. It is okay to fire someone. It is okay to expect people to produce to be a member of your company and it is okay to make a profit off of Your Business. Public Service announcement. Would you fact that over to me? I it's on the West. You okay. So now we're going to do is we're going to talk about the final. The final step here the final step. Final countdown figure out. How long again are we talked about? Wanted to hit here. I WANNA hammered home. How long how long will you allow the person to steal money from you or get paid by you and do nothing? Is it ten minutes? A day is at four hours a day. Is it a week see. How long can someone do nothing for you when you discover it before you get rid of them as soon as I get someone to replace it there by some business owners will allow their average employee to do nothing in Angela? Stats but right now. These statistics you can find out that the average employee spends forty one percent of their day. Doing nothing jacket around doing something. Ain't what you're paying them to do. Let me give you the hard stats here. I'M GONNA GONNA throw dot com slash. Does it work right here? Read the stats buddy. In an article published by The New York Times bestselling author. Kim Blanchard a large survey of thirteen hundred private sector companies conducted by perfect consulting found that on average only fifty nine percent of the work time is productive fifty nine percent of the day. They're working so he one percents wasted so I'm just saying let's be honest about it. Put cameras and there's nest dot COM dot com. Put up cameras just like quick trip just like Walmart just like target. Put up cameras. You can see what people are doing. And if they're not working fire them because if you're hiring them just to hang out then that would be called a friend and then you can have those but if you're gonNA pay somebody don't Miss Steward your money and I think we have clarified a little bit about five step hiring somebody how to determine what's right to fire people everything you need to know about faxing. We've talked about the national debt. We've talked about trump tastic things we've covered so much ground. It's pretty incredible. You think about hot mic to what.

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How to start a currency war

The Signal

14:50 min | 1 year ago

How to start a currency war

"This is an a._b._c. podcast so the world's two largest economies are at war we begin with the escalating trade war with china china and u._s. In china are locked trade battle as being watched and felt around the new battleground in the intensifying trade war between the world's two largest economies currency acce- valuation this trade war has been going on for the better part of a year now but everything started to heat up again this week. I i the u._s. Introduced new tariffs on chinese imports and then it accused china of fiddling with its own currency to use the language of the playground when i grew up it was trump that started it. I'm ready giants and i'm steven stock well into the signal what is currency manipulation and how tribal could could hurt all of us elliott this week. The president of the united states donald trump had some harsh words for china. We have some breaking news here. The treasury department just designating china as a currency manipulation of course following the president's and you have to say this what china's he's doing is. They're devaluing their currency and they're pumping money out like they've never done before. We haven't seen the u._s. Label china currency manipulator since nineteen nineteen ninety four it is likely to raise tensions between the two economic giants. This is actually coming good on promising. I turn the election campaign. I'm going to instruct my treasury secretary to label china a currency manipulator any country that devalue their currency in order to take unfair advantage of the united states which will be met with sharp and that includes tariffs and taxes in any rolled this out because the value of the won the chinese currency has dropped okay so wh-what's is actually going on here okay so china likes exporting stuff right you mean like iphones and taes right totally and people buy stuff because it's often cheaper than products that have made. Luckily let's take a t._v. For example if you're in the united states and there's a t._v. That costs five hundred dollars tape today. You'd think so right but in china comes in with the tape it's like pretty similar but on the four hundred fifty dollars so i would buy the similar but slightly cheaper chinese t._v. In that situation as any financially minded minded person would but trump doesn't like it when people stop buying the american t._v.'s because there are fewer jobs for americans to make t._v.'s okay so what does trump do to fix that well. He has added on terror. It's like a tax on imports bicycling the means. The chinese t._v. ends up costing like five hundred ten dollars. Okay so in this situation now i i would buy the american t._v. Because it the jeep one now exactly that is exactly the plan is what donald trump wants to do. He wants to buy the american t._v. But what happened this week it despite these tariffs that make the chinese as more expensive china's currency has dropped which now means that it's t._v.'s cheaper an back onto the five hundred dollar mark in in a sense what it's done is to stop many building. Its currency so instead of maintaining the currency at seven you enter the dollar. It's allowed it to fall so this is peter martin. He is the economics editor at the compensation and is a visiting fellow at the school of public policy. If <hes> chinese as imports were to find difficulty getting into the u._s. <hes> in a free floating currency the currency would fall but china has basically signaled that it won't take what trump has done lying down. All of this is really just the latest escalation between this kind of between the u._s. and china china so on one hand the u._s. Raise tariffs and then the on the other hand china stops importing agricultural goods for example real tit-for-tat staff but i guess when you really look at it. We'll have the started a fair bit further back. A useful starting point is two thousand and one before that china didn't export much the u._s. Sir basically it was worried that the u._s. smart to do what they've done. Impose tariffs and things on it. In two thousand one china joined the world trade organization that that meant signed up to rose rose which prevented the u._s. from doing what snout them on paper and started exporting hugely as has decided to become an expert power and moved citizens millions awake from the country into the cities to make things china china became a world exporter of the kind of things which <hes> y- you and may use all of the time president president trump said we can't have as many chinese goods coming in this is pretty similar to what happened in the nineteen nineties when u._s. Politicians would smash up japanese japanese transistor radios television in in frustration well lie this is saying we can't have all of these goods coming in that <hes> the u._s. Well it's because the u._s. Makes him itself or at least it houston okay so the word manipulation found down spat right and it's being thrown around a lot but haven't we all don currency manipulation. Yeah most countries have manipulated. Did the currencies some stage certainly australia has tom's reserve bank years said that <hes> it's moving interest rates in whatever direction <hes> <hes> has been partly to influence the currency <hes> what china's done is not that significant by itself so it is allowed the currency to fall about two percent right but <hes> by doing that it is breached barrier that it has has by manipulating mind for a long time so <hes> it's basically signaled that <hes> <hes> it's prepared to let the currency sink as much as is necessary to continue to export to america notwithstanding tariffs and that's removed if he like <hes> that's removed something. That's been certain that we've had for a long time. The the the chief implication is that there are no certainties. He's okay so like you were saying before. The u._s. was annoyed that people were buying these products instead of american ones so they introduced tariffs. Are they allowed to introduce those tariffs. So <hes> what trump's done is completely against the rules the world trading system you discriminate against one country you. You don't impose punitive tariffs because you've taken set against them. We not do that. No one else does that. Trump started and china on a his <hes> stopped taking agricultural exports from the u._s. and signal that there's no bottom mm to where it's currency might fall now. Coal at manipulating other trump started what has been the effect of this latest battle in this big big ongoing trade war happy monday everybody or not so happy monday <hes> we see the markets here dow jones industrial average down one point crashes at stake in term and so on the first day it was a movement down of two percent here in the united states oil was down on stocks had their worst day of the year. The dow fell seven hundred sixty seven points this happened after new signs president trump's nothing much but it's forecast for what's going to happen to the economy so people apple adjust <hes> the process of the pie fish as not on the biases of what's happening to die but on the basis of what they can see is happening in the next exterior. You're not going to buy a sheriff. Thank <hes> they companies prospects going down and on the basis of little information on the basis of uncertainty didn't they and on the basis sort of first principles thinking well strength. All of the structure is not gonna do that well in the future. People have been selling so. We're we're already starting to say global markets even now market react to this u._s. China showdown and if you want to know how bad it could guess well. According to our friend paid. It's bad like undermining the world's entire financial system bad at this stage. We don't know where it will end but let me tell you where i fear. Martin and the world trade organization system arose will break down the u._s.'s break in the rose and it's manipulated the system by not appointing appointing judges to the tribunal that would he have a case to ensure that the case is never heard and countries everywhere we feel that they can impose punitive tariffs at will at when this happens we could have happened in and the great depression along before most of us were alive. We could have an increase in tariffs worldwide of fifteen percent <hes> and it would bring on <hes> another global recession. That's the risk is that <hes> you know as long as there's a sort of pace <hes> <hes> and and no one's sort of <hes> stopping tried is some sort of truce. Things are more or less k. but if china stops trade from the u._s. the u._s. <hes> as is doing in retaliation for the u._s. Stopping tried from china and every other country follows they will try to canonisation scott one one hundred and sixty members. Every other country feels <hes>. It's a free for all and they'll punish another country for daring to sell things to it. We will by far fewer things. All of our economies will suffer okay so worst case scenario global double recession yeah and the reason that paid a thinks that that could happen is because other countries might take this trade war is commission to do whatever they want sort would've like if the u._s. and china don't have to follow the rules. Why should i we ask saying seventy years of common sense that that's how long the we'll try to its predecessor have existed seventy years in which they have been grows and the rules say. You cannot discriminate discriminate against the country simply because you don't like it. Australia has to take goods from all countries even once of his government disapproves. Every country has had to do that. We are seeing that unwound what has happened. Is that the u._s. Before doing this before we're doing something almost certainly not allowed by the w._t._o. Rose there's an exemption in the rose for national security but <hes> it's hard to say that there's a national no security emergency in the u._s. I'm before doing this. It starved the body that would adjudicate on it of members. It has veto oh on the appointment of members. The appellate body. It's cold is meant. Have seven members account have any less than three every four years. They retire talk and the u._s. Not only hasn't approved of any appointments. It hasn't been my night at any any other members of whom any other body might approve say it's if you like cheating against the rose but at the same time <hes> starving the rare for <hes> <hes> essentially eliminating the riff will will be snuffed out in december when the last <hes> two of the last three members have their terms expired and the w._t._o. Under its rules will not be able to adjudicate so and when that happens they will be a free for all there will be no penalty <hes> for <hes> doing whatever you like the u._s. will be doing whatever it likes and china will be <hes> well well. Let's sensually the world trade. Organization will end as a force to be taken. Seriously china will be able to impose punitive tariffs on the u._s. Chris <hes> if russia in the u._s. <hes> wherever it disagreement they'd be able to do it. A russia would be able to impose tariffs is on the particular neighbors didn't like and <hes> it'll be every person for themselves. Everyone's just looking for themselves. Where does that leave australia. What this main is less is tried and the the only thing i remember clearly from economic swan is the trademarks people better off tried definitional. He makes people better off because <hes> the two sides wouldn't do it unless it did with benefit and warmest louis from cheap goods from china and from china buying ally and ought aw to change its economy can make those goods. The u._s. has benefited enormously <hes> about <hes>. I it's <hes> ah in that sort of war are when everyone tries to wintrust to feel like punish someone else so get an advantage for themselves. Everyone loses and that's what we are facing. We are facing at the end of december <hes> destruction of sort of truce. That's lasted for seventy or so years. He's okay so should we be. I don't know stocking up on essentials. Just in case you need a new iphone probably isn't a bad time. That's over us today. On the signal we will be back feed next week absolutely have a fantastic weekend end. If you're looking for something to do i recommend rating and reviewing the signal on apple podcasts until you friends later. You've been listening to an a._b._c. Podcast discover more great a._b._c. Podcasts live radio and exclusives on the a._b._c. Listen up.

china president trump united states president donald trump Australia trump peter martin treasury department t._v. dow jones houston editor apple visiting fellow
Gold Is The New Gold  Ep 588

The Peter Schiff Show Podcast

59:40 min | Last month

Gold Is The New Gold Ep 588

"Leadership Today was the last trading day for the month of June, which also means it was the last trading day for the second quarter of twenty twenty, and you're going to hear a lot on the news about what a great quarter it was. It certainly is one of the best quarters for all of the major indexes, I in in recent times in fact, you have. have to go back. You know twenty two years to find a quarter better than this recent quarter for the SNP was up about nineteen percent in one, thousand, nine, hundred, ninety eight was the last time the SNP had such a good quarter, and that was during the dot com bubble, the Dow up almost as much about eighteen percent. That's best quarter since nineteen eighty-seven. Rebounding from the crash. Nasdaq actually was the star on the quarter it was up thirty percent, but that's only the best since two thousand and one, because it had some pretty big quarters during the the blow off of the DOT, com bubble Russell two thousand also almost strong is the Nasdaq was up twenty five percent on the quarter, but you have to keep these quarterly gains in perspective because they come off of a horrible. First quarter right. In fact, the only index that is positive year to date is the Nasdaq right. The SNP is still down about four percent. On the year. The Dow is still off about nine percent I mean my numbers are not exact a Russell two thousand, and still down about thirteen and a half percent. The Nasdaq that is up about twelve percent on the year, but none of these indexes would be positive. We're in fact. They would all be down much more than they are. But for the Federal Reserve, but for all of the money that trillions and trillions of dollars that the Federal Reserve dropped into the economy from its helicopters to fact that the Federal Reserve. Reserve is now buying corporate bonds including junk bonds in addition to monetize in all the treasury debt. The Fed reserve is directly lending money to US corporations. That's why they're share. Prices are going up because the Federal Reserve is buying all their bonds almost like it's forgiving their debt, so it's backstopping all these corporations. That is the only reason that we've had this. This rally, so it's a phony rally. It's it's air going back into a bubble but I. don't think the Fed can continue inflating bubble for the rest of the year. I think despite what the Fed is doing. I expect there to be a pullback in these major indexes, but even if it doesn't happen, even if somehow we can defy gravity here and the. The feds printing press can continue to elevate US stock prices. It's not going to matter. It's not a reason to buy US stocks, and it doesn't mean that anybody who owns us. Stocks is going to make any money in real terms because the only way to keep the US stock market going up is the crash the dollar to sacrifice value the US dollar. And in so doing. The Fed will be rewarding people who own goals who own gold stocks foreign stocks to a much greater degree. Than anyone who owns US stocks, so it doesn't even matter whether US stocks. Go up or down. You don't WanNa own them. Because the only way they can go down up rather is if the dollar goes down and if that happens which I expect, you will make far more money investing internationally investing in gold and gold stocks, then in the US stock market. In fact, if you go back to the first decade of this century, the best returns remained internationally. It was really a lost decade. two, thousand, two, thousand and ten timeframe. It was really a lost decade for US stocks. The money was made in emerging markets in commodities and foreign currencies in precious metals. That's where all the money was made. The next decade was the decade of the US stock market the US bond market. The best returns were in the United States. Well, I think we're flipping back to repeat the initial decade of this century, except it's going to be much worse for the US stock market and much better for foreign markets in gold, because the fundamentals couldn't be worse for the US market. They're much worse now than they were. In early two thousand, this is going to be a fantastic decade for international investing for my strategy, and this decade is just getting started early in. It is the first year we got many many years ago in fact if you look at the gains that we've already seen. This quarter sure it was a great quarter for the US stock market, but keeping it in perspective. The price of gold was up thirteen percent on a quarter, so that means the real gains right for stocks priced in gold, rather than priced in dollars were much smaller, but look at the gains in gold stocks, the GD ax, which is an index of gold mining stocks was up sixty percent in the second quarter and the Gold Juniors the. J. That index was up seventy six percent on the quarter. Seventy six percent, so these are spectacular gains, and nothing comes close even the Nasdaq's thirty percent gain is still half of the game that you got on gold stocks and a smaller fraction on junior Gulf socks, but the differences even more significant when you look at it for the entire year right because the SNP down again four percent, Dow's down about nine percent said Russell two thousand, thirteen and a half percent. Only index up is the Nasdaq. Which is up about twelve percent on the year, but gold is up seventeen percent that completely negates the entire Nasdaq gain priced in goal, and of course all the under indexes are down even more in real money than in the feds, funny money, but look at the goal stocks the. Up Twenty five percent on the year, and the X, J up seventeen and a half percent, so gold stocks are bleeding the way they lead on the quarter. They lead on the year. In fact, if you go back over the past three years, gold stocks have substantially outperformed. The SNP in fact I think when this year ends. If you go back for five years, people that own gold stocks over the preceding five years will have made a tremendous amount of money much more money than people own the US stock market during the same time period. In fact if you WANNA, look at the Dow priced in gold, which is something that you always have to do the. Dow Jones bottomed out at about seven and a half ounces of gold in early, two thousand, and is about March two thousand nine. That was the low. Remember though that the S. and P. or rather the Dow was at a record, forty plus ounces of gold in two thousand at the peak of the Nasdaq bubble. Took forty ounces of gold to buy the Dow Jones, so is he huge bear market right from forty ounces of gold all the way down to seven and a half, but that's where we bottomed. And then we had a big rally. But where are we? Now? We're at fourteen and a half ounces of gold. We're not even close to the forty ounces of gold. We're at in two thousand. In fact, that's the record high. I don't think the Dow Jones will ever be at forty ounces of gold in our lifetimes. I mean maybe it will at some point in the very very distant future I don't know if it'll happen in my children's lifetime. A generational or century, maybe an all time high. For Dow in the price of gold at forty two one, but never say never I mean. It's certainly possible that it could have a bigger bubble than the one. We had in two thousand in my great great grandchildren's futures or something like that. But in reality, as far as anybody who listens to this podcast, that was the high, the Dow ever traded at forty ounce goal, but right now at fourteen and a half ounces I think within the next couple of years, the Dow Jones is GonNa take out that seven and a half low from two thousand and nine, which means in real money. The Dow Jones will end up losing a hundred percent of what it gained since two thousand. Thousand nine low. All of those gains will be wiped out in real terms now in nominal terms, do not expect the Dow Jones to trade all the way back down to its two thousand nine low, it would, if the Fed was out there printing all this money, but because it is, it won't, but in terms of gold. That's where you're going to see the real losses. In fact, I've been saying on this podcast for years my. My expectation for the bottom of this bear market is going to be close to one to one I. The Dow Jones will be between two ounces of gold and one ounce of gold. It may not go all the way down to one to one I mean. That was the low in one, thousand, nine, hundred, thirty, two and nineteen eighty, so we've been down there. A couple of times significant market lows and I think we got A. A shot of going back down there again, so this is early in the bear market. It's got a long way to go, but would investors have to do? Is they need to get out? Get Out of us. Stocks Get out of US bonds and get into foreign stocks. Get into gold. I mean look at all of my strategies. All of our Equity Funds that Europe Pacific. They're all positive on the year. positive on the quarter. I think the momentum is gonNA build dramatically in the second half of the year I. think that we're going to outperform by a much greater degree in the second half. Then we did in the first half. In fact I said earlier in the podcast I do think that we're gonNA, get another move down in the market whether we take out the loser art, it's hard to say certainly that will happen or more likely when trump loses November, which I think is. The most likely scenario and I think that is negative for stocks, so if they haven't gotten clobbered by then, they will. But I think the next decline is not going to be about liquidity the way the decline was that we had in February march. Timeframe is going to be about valuation. Recession I and when we had this bear market. Unlike the Klein that we had in March. Two dollar is going to go down. It's not going to go up. In fact. The dollar was down on the quarter. And it wasn't down a lot, but it still had a negative quarter but I. Think the second half is going to be particularly brutal for the dollar. As we put a nail in the coffin of the dollar bulls and the milk shake fury, and was I, went over on another podcast and I think gold is going straight up I think goal stocks are going up so this next downturn is GonNa look nothing like the last one and I think that we. We are perfectly positioned for the things that are about to play out very few other investors are nobody really gets this. They don't understand the situation they never did. They don't understand that. The damage that the Fed has done to the economy. They don't understand how the Fed inflated the prior bubbles or how this one is even worse, and they don't get how everything that the Fed is doing now is making the problems that they don't even understand much worse and. And setting up an outcome that they haven't even contemplated I, mean nobody is prepared for stagflation for a situation where the economy is weak, unemployment rises yet we have more inflation and we have a weak dollar. We have rising gold prices the exact environment that we're GONNA have nobody on Wall Street is prepared for so that's how you make a lot of money, right? You figure out what nobody expects to happen. And if you know, it's GonNa Happen, then you can. Can Bet against the crowd, and that's where you get the biggest payoff on your money. A lot of people are out there and they're thinking that. Oh, it's bitcoin. Bitcoin is going to be the beneficiary of the currency crisis of the dollar crisis. If that were the case, bitcoin would already be going up. I mean bitcoin hasn't been able to move. Gold continues to move up and make new highs, and the price of Bitcoin is still below ninety two hundred. got rejected every time it neared ten thousand. It does have some support just under nine thousand, but I do expect that support to give way, so bitcoin is not the new gold. Gold is the new gold goals about to reclaim the crown that bitcoin maybe temporarily took away from it, at least in the minds of the Bitcoin Bulls for a few years well, bitcoin had to spotlight to itself Bitcoin was going up while gold was consolidating, but now goal is breaking out is going to steal the spotlight away from bitcoin and I think a lot of people who have been holding on to Bitcoin are ultimately going to unload it especially when they realized they bid on the wrong horse, and when they. Change their bets and get off that horse and get on the right horse. You're going to see a big implosion. The price because there's not going to be a lot of buyers to take the other side of that trade and I especially think. The crash is going to come from this bitcoin. Trust is Greystone Bitcoin Trust. I think a lot of SPEC. Money went into that trust in the last few months betting on the having, and it's not going to happen, and when they see gold moving higher and Bitcoin, not going along for the ride or not leading gold away. A lot of people anticipated a lot of these. Weaker hands. We're going to throw in the towel. And this is going to be a major problem for not only the to trust price, but for Bitcoin in general and when the dollar collapses, this is the game changer. Are about to go through the recession. Financial Crisis That's in our future is far more severe and the implications and the consequences far more dire than anything. We experienced in in the crisis or that great recession. You know for all the talk about white privilege, right? That is the new thing right? Oh, white people enjoy this special privilege. Well. The real privilege that everybody needs to be worried about losing is not white. Privilege is the privilege of. The US, our being the reserve currency, all Americans regardless of their race have enjoyed that privilege. And you know I didn't actually think of this comparison I. Myself I wish that I was reading an article on zero heads by guy named mark. Jakovic. I'm not even sure who he is. Maybe he listened to my podcast, but I read his article. I really enjoyed it and I put it up by tweeted it out. But I hadn't made this analogy, but it's perfect, and that is the dollar privilege right because that is a privilege, right? We have this exorbitant privilege in. We're able to issue the reserve currency, and that allows every American whether you're black. White Hispanic doesn't matter. You're an American you benefit from the dollar privilege, right? You have the privilege of consuming without producing you can borrow without saving, and everyone has enjoyed that privilege, and really has abused that privilege the entire nascent particularly the US government has abused this privilege and this privilege is about to go away, and then everybody is going to see their wealth. Go up in smoke. We're going to really move. Far too narrow the wealth gap. Because y Americans, since they have more wealth, obviously to lose a lot more of that wealth when the dollar collapses, so that'll narrow the gap a little bit. Although not the way, a lot of people want to see it narrowed. They'd rather see the african-american wealth coming up as opposed to the white wealth coming down, but hey, if you want equality, I suppose it doesn't matter how we get there if you know having a more. Is your main goal, not having a more prosperous society, but just having a more. I mean maybe equally poor is as good a way as any to get there I mean maybe it's not as good as everybody being rich, but hey, if you quality is your main goal, that I guess you gotTa Take It. However you can get it but one. The dollar loses its the reserve currency status and it crashes. It will be replaced in my opinion by gold. The world is GONNA re monetize gold. It's not going to be the euro. It's not going to be the end. It's not going to be Chinese. AREN BE I mean we're not gonNA take the crown off of America and just anoint some other country and give them the same privilege that America abused. Nobody should have that privilege. We need real money. Anchoring the monetary system, all the world's currencies need to move from Fiat till legitimate, and they need to be backed by real money gold, which was the case before the US led the world off the gold standard onto the dollar's standard. Well now the world is going to reject rejected dollar standard and re-embrace the gold standard. Gold is re monetize. It's going to be much much higher in price, and the key is to buy years now to get your goal now to get your stocks now I mean looking at the charts right. The way gold closed a month and a quarter I have never seen to goal chart looking this good since early two thousand nine, and that's when the price double very quickly you know from about nine hundred to about. About Eighteen, thousand, nine hundred, and then it peaked this time I think the chart looks even better. I think we're going to have an even bigger move, and there is no peak anywhere in sight because we're not going to have the market, sell off the way it did. In Two Thousand and eleven 'cause remember we had a huge run, really uninterrupted bull market from two thousand or two thousand eleven. We're gold went from. Under three hundred to one, thousand, nine, hundred without a significant correction, small correction in two thousand eight, but it lasted for a couple of months. It wasn't really a big bear market, so we were way overdone after gold had gone up sixfold whatever that was from three, hundred to one, thousand, nine hundred. And it was at the time that the Federal Reserve was able to convince everybody that their monetary policy worked that it was a huge success, and now all they had to do is normalize interestrates shrink their balance sheet, and they would never take out these emergency tools again because they only needed them for the once in a lifetime financial crisis. We would never have anything like that again, and so the Fed would never have to. Take rates down to one percent. We would never have to do quantitative easing again, and it works so well, and now we're just going to normalize everything and shrink the balance sheet, and because the world bought into that lie. We finally had a bear marketing goal. We finally took some profits, but now we came off of a massive consolidation gold consolidated those gains for years and years, and so now when we start this run when we take out two thousand after having gone sideways for a decade. We don't have a decade of Hugh Gains. We had a decade of consolidation that has built a phenomenal base that's going to support a massive new bull market that I. Think is going to take gold well above ten thousand. I mean I used to be saying that it was GONNA be goal five thousand. We're GONNA. Leave five thousand in. In the dust pretty quickly I think it's ten thousand or higher, and certainly if we re monetize gold, there's no way to it without the price of gold being much higher than ten thousand, unless you want to let the price of everything else collapse to bring the relative price of gold up. That in can happen so the only realistic way of going from a Fiat Standard tour. Gold Standard is with the price of gold, considerably higher than ten thousand dollars, and that is exactly where it's going, but you know if you need any more proof as to how bad this coming disaster is going to be. All you had to do. Is listened to today's congressional testimony where you had a joint testimony of both Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin right? They both testified and you know this is the first hearing. I've watched in a while. That wasn't on Zoom Right. These guys were actually in Congress, and because they were in Congress. They all were wearing face masks, and you know I got to admit. In seeing our elected representatives wearing face masks. Finally I mean that is the most appropriate attire for these guys I. Mean They now look natural in their element? Because you know government congressmen have been robbing from the American public for generations so since there are a bunch robbers, it's about time that they finally put on face masks, and now they look the part. They look a lot like robbers with masks on their face then when they didn't happen so I thought that really framed it well and put everything in perspective that we're all being robbed by these masked men. But. The most important part of it is. What these guys were saying what Powell and Mnuchin were supposedly admitting to and confessing, and this is some real scary stuff, but before I actually get into the scariest stuff. I, just want to talk a little bit about some of the things that were said during the hearing. Because I'm just actually looking at my twitter feed I was watching the hearings, and I was tweeting about it as I was watching, so I wanted to just make some of the comments based on on these tweets, and then I'm going to get to the worst part. But initially so when they when they started the testimony. Mnuchin read off this laundry list of federal programs I mean it's amazing. How many new programs have been implemented since this crisis began, and he goes what it's only a few months, and he read off this list. I mean unbelievable. All stuff that the US government is done right and he's reading this list. He's basically bragging about it like Oh. This is all the great stuff that the US government has done since covid nineteen right since the recession. But in reality, all this stuff is making the situation worse. The government programs that Steve Mnuchin is so proud of having been instrumental in enacting these programs are going to inflict far more economic damage on United States, then the virus right, but all of these congressmen. They think it's all great. They are so happy. They are thanking Powell there for all the work. He's done I mean they just want more. They're happy that trillions. Trillions and trillions of dollars have been printed. They just want them to print more right. They just want more Americans to be bailed out. They WANNA. Make sure that more people have money you know. maxine waters was like. Hey, you know Americans can't pay their rent. They can't pay their utilities. They can't pay their mortgages, so the Fed needs to provide the money. The government needs to print money so that Americans can pay their bills mean. Americans need to be able to afford to pay their own bills. That coverages can't pay the bills for them. They're covered doesn't have any money guessing it has a printing press, but if it uses it, it destroys value the currency, but these guys are clueless, but you know the main reason that so many Americans are broke that they're living paycheck to paycheck, and now they can't pay their rent or their mortgages are. Their utilities is because the government is because people like maxine waters number one. One taxes are too high. Obviously, they're not high enough. Compared to how much government is spending, but government spending is too high, and as a result we have all these taxes, and so a lot of people who were working and earning money. Since the government took so much of their earnings, they were able to save, so they didn't have the money saved up to be able to pay their rent and their utilities, because they spent all that money in taxes, but another reason that the average American is so broke and has no savings is because both the Federal Reserve. and. The US Congress discouraged everybody from saving. The Fed kept interest rates at zero. Why is anyone going to save at the same time? Congressional laws and the Fed by holding interest rates, artificially low, and all the tax breaks, and the stuff that you know. Congress passed Americans were encouraged to take on excess debt to take on access credit card debt to take on excess student loans to take on excess mortgage debt. The fact that Americans are so highly indebted is a direct function of Fed policy and of congressional legislation. That's why and so Americans are broke because of the government, it's these politicians that are the reason you have maxine waters who was partially responsible for Americans being broke. Talking to defend chairman and the Fed is the other part of the responsibility for America's being broke. You know they never can look in the mirror to realize they are responsible for the very problems that they want the Fed to solve, and of course. The Fed can't solve them the Fed sure did help create them as the. Congress but they're not going to solve them by pretty more money. They're just going to create even worse problems. In fact, they thanked the Fed chairman. For saving us from another financial crisis with all the money they've printed defendants. Save us from anything. I mean they act like Oh these are. The firemen came to put out the fire well, they came to put out the fire that they lead, and they came with a bunch of gasoline. That's not going to put it out. That's GONNA. Make you come back bigger everything that they have done both the Fed and the treasury. It not only doesn't prevent another financial crisis. It makes the next financial crisis that was going to happen anyway. Because of what they've done in the past. It makes it worse and again. This is not going to be a garden variety financial crisis. This is going to be a sovereign debt and credit currency crisis, which is on a whole new level. With far more profound and dire consequences, then then then a financial crisis. There is one of the Congressmen I forget what his name was, but he actually had an interesting question to make. Initially he was worried about farmers, and he was worried about food shortages and he should be because that's what's going to happen. FOOD IS GONNA be in short supply. It's got to be. Be Scarce. It's gotta be rationed I can see all this coming. And this congressman was worried about the farmers and their ability to grow food, and so he was thinking. We're going to have some bail out money for the farmers is is the Fed bailing them out the way they're bailing out small businesses of course ideas that somehow the Federal Reserve giving farmers money is. is going to do something to prevent food shortages. It's not I mean what we need is the farmers to make their money by growing food not by cash government checks if we just give the farmers money so that they don't have to form. How is that going? Alleviate the problem of the food shortage. It's actually gonNA. Make it worse if we pay farmers not to. To Farm, and they won't, and in fact, if we print all this extra money and just handed out the farmers who are not foreing not only are we going to have less food? But now we have more money bidding for that food to farmers. I've been growing food. They want to buy food, but WHO's making it? Defendant doesn't grow any food. It just prints money. And that means that food prices go up even more than they would. Normally because you've got the supply that's going to be down and now the demand based on all the paper. Money is going higher, but the worst part of it had to do with. I forget the name of the African, American Congressman, who basically forest both Jerome Powell and Steve Mnuchin to basically bow down and worship at the black lives matter. Right. This congressman basically said he wanted to show of hands, and he put these two questions right to Powell and right to minutia he said. Do you believe the reason for the wealth gap in the United States the reason African Americans have less wealth than. White Americans, right? Do you believe that the reason for this is because the systemic reform system that basically permeates all aspects of the American society right. Racism is basically the only reason that blacks don't have as much wealth as whites and these guys said yes. They didn't have the guts to tell this congressman that no, it's not racism that has caused a wealth gap. There are other factors that are causing that gap, but they didn't have the courage to say that, so they went on record as admitting that the wealth gap is entirely the fault of racism, and obviously if that is the case, this congressman is saying the solution is reparations right? We need to level the playing field by. Basically reparations for slavery and all races so this now these guys are on record as admitting that and you know. I thought it was very convenient to that Powell by admitting that it's racism that that caused the wealth gap. He not only takes himself off the hook, but Congress off the hook right because racism has very little or nothing to do with that wealth gap, but what has a lot to do with that wealth gap is Congress that have passed legislation that has created a welfare state, the minimum wage law anti-discrimination laws. State local governments will occupational licensing laws. The failed public school system. There are all sorts of things that government has done. To create that wealth gap, or why didn't that wealth gap and of course Powell himself by printing all this money to inflate asset bubbles? He has undermined real economic growth in favor of these asset bubbles, and that has helped to drive the wealth gap, not only between black Americans and white Americans, but between most Americans the poorer and middle class Americans and the richest Americans, and there's some black Americans that. That are included in that group as well, but you have Powell who is responsible and the Fed for this gap and Congress. Who is also responsible of course, the individuals themselves bear some of the responsibility, but if we're GONNA, blame third parties, the real third parties were in that room the Fed in Congress, yet they're both saying. Hey, we got nothing to do with it. It's all because of racism. And once you say it's all because of racism. Well now you don't have to deal with the actual problems or what? Congress defensive actually done to create it, and now its dissolution is just reparations which I've been saying. They're coming and find. It's going to happen. Right defense is going to print enough money to pay all these reparations, but you know what it's not gonNA. Matter right because the reparations are going to be worth anything. We're going to destroy the value the dollar. So what good. If you get your reparations, check and you can't buy. But not only will the reparations checks be worthless, but somebody else's money will be worthless if the reparation checks don't have any value then your money doesn't have any value either right if you have cash a bank. If you have government bonds, we have muny bonds. The dollar gets wiped out. It takes everything with you know. A lot of people have their money and retirement accounts. You had a 401k. You're in an IRA, and your goal is I don't want to have taxes. Yes, you can defer your income taxes by being in an IRA, but you don't defer the inflation tax. The inflation taxes going. Going to ravage everybody's retirement account, they're going to destroy everybody's retirement account unless you're smart enough to get your money out of dollars now get out of the US bonds. Get Out of the US cash and invest internationally. Do exactly what I've been telling people to do exactly what I've been pounding the table on for decades now and yes I know a lot of people. Hey, you've been pounding it too early. Okay? So what at least I know enough to pound it, and maybe by pounding it early I was able to save a lot more people i. mean nobody can pounded directly on time. But Yeah I was early. I didn't have the benefit. Of Hindsight. You never do but based on where we are now I. Think all the actions that I advise people to take in the past are going to pay off spectacularly in the future. The good news is for those who haven't followed my advice. You still have time to do it. The only question is how much time. It might not be very much, so don't press your luck, but then it wasn't only that. POW ammunition admitted. Writer confessed that it's racism. That is the reason that African. Americans don't have more wealth. He also admitted. That is the reason that African Americans are disproportionately denied loans when they apply. The same congressman, ask for a show of hands and he made sure you know Powell raises hand, because initially raises hand. He said no raise it up higher, he said. Do you agree that the reason African Americans are being denied loans is racism. And Powell agreed I couldn't believe that he basically indicted the entire banking system that he's supposedly overseeing by saying. It's replete with racists that you have all these racist loan officers that are denying loans to creditworthy black borrowers, simply because they're black. This is all BS, but Powell does not even have the guts to stand up to this congressman and tell him the truth. The reason that black borrowers are denied loans. Loans, is the same reason that white borrowers are denied loans. Plenty of people are denied loans. It's not just you know. When someone applies for a loan, they just look at the race and at the racist black. They go denied, and if it's white, they just approve it. They're looking at the credit score. They're looking at all sorts of things. Banks are in the business of making loans. They WANNA make loans. But they WANNA. Get paid back right, or at least they should wanna get paid back so they have to make viable loans. They have to make sure that the borrower can repay the loan. And if it doesn't look like they, can they deny the loan? That's a good thing. You don't want to loan money to people that you know are not going to repay it back. You don't want to bury people in debt. That can't afford it. Banks are actually doing borrowers a favor by not letting them get over leveraged by making sure they can actually afford the commitments that they're taking on, but this Congressman Got Powell to admit that that's not what they do. that. They don't care about making profits that they're turning down credit worthy black applicants, simply because racist, which of course is not happening now? I don't dispute the fact that you have a higher percentage of blacks being denied loans than whites, but it's got nothing to do with their race. It's got everything to do with their financial circumstances and their credit scores and their income and their assets, and all that other stuff now if blacks are disproportionately in worse. Worse financial shape than whites. That's not the banks fault and it's not racist. If that's the reality now what you need to do is look at. Why are African Americans in these financial circumstance now again the congresswoman sale it's all because of racism, but again it has nothing to do with racism. There are other factors that have produced this situation, and those are the same other factors that are produced a situation where blacks are being disproportionately denied loans. Not because they're black, but now that you have. Powell admitting that that's the case we'll now. Congress has a window to do something about it because you have the chairman of the federal. Reserve has said that blacks are being denied credit because they're racists. Because the banks races, when obviously even if on the rare circumstance, there was a loan officer that happened to be racist, right? You don't think he's going to approve a loan to a credit. Worthy Black Borrow. They probably get bonuses when they have new loans especially when the loans are good or they pay off I. Mean I've said this before. Even if you're a racist, you're also greedy. You want you WANNA. Make money you want to do well on your job. I mean if there's a racist loan officer, even if he doesn't care about it, what about a supervisor? His his superior. I mean somebody. Somebody up the chain is not going to allow some racist to denied profit opportunities to the bank, and if some guys just approving loans to white people, even though they're not credit worthy now you have a bunch of loans to white people that are going bad, and you have all these loans that are not being made to blacks that are now being made by other banks because again. Even if one bank is racist, are all banks racist right because there's more than one bank had a black African can go to for a loan, so you gotTa tell me that every single bank is a bunch of racists that none of them want to make money loaning African Americans because every bank in every banker is racist. No, there's competition. There's no way this is all impossible, but instead of. Trying to educate this congressman, he's afraid he's scared to death of saying that racism isn't the problem see racism supposedly is the reason for every problem in the African American community, and if you don't admit that racism is the problem, then you're a racist yourself right so Powell had to admit writing quotes that racism is the reason that blacks are not getting loans or getting turned out of course, plenty of blacks who do get loans those that are credit worthy. But not all of them. Some of getting turned down, but now that's all about to change because I think Congress has done. Now is the door for more programs to force banks to make loans to African American borrowers, even though they believe that the loans will never be repaid, even if they don't have the income or the assets or the credit history to. To support supported. They're going to be required to make these loans anyway now. Do you think this is going to help the economy? Of course not it's going to hurt the economy because they're gonNA divert credit loans that should have been made to credit. Worthy applicants, white and black are now going to be made to black borrows. Who shouldn't be barring money. And now instead of getting repaid, the loans are going to go into default. And so now the banks are going to lose money which we're GONNA. Be Destroying our capital. And where are they going to get the money? Obviously, the Federal Reserve is going to have to make up all the losses that the banks have because they're making loans that are GonNa be repaid, and in fact I, think if you create a situation where African American borrowers know that they could just borrow. Money in the bank can't turn them down because they're black I mean they're not even GonNa care if they can repay the money. They're just GONNA. Take out the loans and this is not because they're black I mean anybody would do this. This if the government said Hey, if you're white, the bank can't turn you down. You have for whatever you want to borrow. Then white people would take advantage of it to I mean everybody is going to take advantage of a government giveaway of a government program. It's not a racial issue. People Act in their own self interest. Problem is the government shouldn't create the circumstances that allow this to happen, but this is gonna be even worse than the lax lending standards. The government crammed down the banks throat during the housing bubble. So this is all happening. The stage has been set. The money. Printing is going to be off the charts. In the Biden, administration and again you know if you have been looking at the polls, even now more and more people are talking about how it's never been worse for the president. Even seems like Donald Trump himself. You can see some interviews. He's pretty much resigned themselves to the fact that he's not going to have a second term I mean he likes to try to put a good spin on it, but you can see some interviews where he basically acknowledges that it's not looking good, and it's not looking good for country either. Especially, if you can read, the tea leaves. See what these guys are talking about. See what we are setting ourselves up for now I read this article. About a free in California. They're thinking about passing some law that if you call nine one one. And your reason for calling is. Racial right if you're calling nine nine one one on somebody, and it's just because they were black. That's why you call. Then that's a hate crime and you can do some serious time for making that falls nine one one call now it already is a crime to make a false nine one one call, but now they wanna make an even greater crime. If the reason you call nine, one one is because the person that you call nine one one on happen to be black now this thing if this type of law passes, this is going to. Backfire, it's GonNa. have an explosion of crime is going to have a chilling effect on the willingness of people to call nine one one I mean 'cause what if you see somebody who looks suspicious right and you think. Maybe they're about to break in your neighbor's house. If you happen to notice that they're black. You're not going to call nine one one. Why because what if he's not really? Going to break into the House I mean. You're not sure I mean. Maybe you'd think so, but the guys black. You better not call because you risk going to jail yourself now. The Guy was white. Okay, sure you could call right if you if you look suspicious and he's a white guy. Okay, you can call nine one one. You'll be okay, but if the guy happens to be black, and you call nine one one, you could be in A. A lot of trouble. Now I know, it's like well. What if it's not because? He's black? But you gotta prove that now. You're probably guilty until you're proven, isn't they're just GONNA, assume. Hey, you saw black guy and that's why you call nine. One one how you GONNA. Prove that that wasn't part of it so I think this is going to mean that. People are going to be far more reluctant to call nine one one and you don't think. Criminals are to know that especially African American criminals right if they know that white people are scared to call nine one one if they're doing anything suspicious. GIVES THEM CARD launch to commit more crimes. So this is. This is where we're headed. I mean no one of the really offensive things that you can do today a big. No for a white guy to put on black makeup, being black face, because that hearkens back to the days of the minstrel show, so it's a real. No, no, but you know I think what might. Is. These laws are getting past? Were you know people are not going to be reluctant to call nine one one? If, they are suspicious of somebody who's black. You might get a lot of white criminals who just put on black makeup before they commit their crimes? Because now they'll, they'll feel that. They have a better chance of getting away with their crimes because they're not going to get caught, so the white guys are going to try to get it on the action, too, because otherwise, the black criminals are going to have an advantage over. Over, the white criminals because people are less likely to call the cops on them, and so the way you level the playing field is the white guys are GonNa? Put on black face, and it doesn't make me a racist for pointing this fact out right because again. If it was a crime to call nine one one for somebody who was white, well, it'd be the same thing and the white criminals would be more emboldened. About racism. It's about the fact of the matter. Hey, here's a criminal, and are you more likely to commit more crimes? If you don't think anyone's GonNa call the cops if they see you. Yes, of course and the cops. Themselves are afraid. They're rescue tariff freight to do anything because help. Maybe somebody WHO's going to put it on film I mean so. The whole society is is falling apart, and it's GonNa fall apart even faster after this election. It's all going to be paid for by the printing press. We're basically repudiating everything America our entire heritage is being sacrificed because people are afraid. To stand up and you know look what just happened to Stefan Molineaux. I mean not a people might not be familiar with Stefan I've known the guy for more than ten years. In fact, he used to substitute host my podcast Peter. Schiff radio show when I was doing a full-time radio show five five days a week. When I was busy, sometimes he would host the show for the entire week. He's a really really good guy. I mean he was actually on the Jerome podcast before I was. That's what gave me the idea to go on Joe. Rogan. You see one on Joe Rogan, and then he got so much interest I mean his chattels. Youtube Channel had almost a million subscribers I mean I'm what three hundred forty thousand or something like that, so his channel was three times the size of mine, but he was a good guy, but he really took on a lot of these racial subjects and went in depth and much more so than I have. I. Mean I've kind of scratched the surface on a couple of my podcast, but he's gone deeper. And Youtube just banned just yesterday. Ban Him along with David Duke and some other people that they said were white supremacists, and the reason he was being banned was because it is hate speech. He was a white supremacist. I mean look the guy's white. But. He certainly not a supremacist I mean not even close. I don't think he's racist. He just says some things that people on the left are infuriated by, and so on the altar of political correctness again youtube, which is owned by Google is just bowing to the pressure now again. I don't consider this to be government censorship youtube, which is owned by Google. This is a private company I mean. Yes, it's publicly traded, but it's not a government entity. It is a company a for profit company, and they're allowed to make whatever decisions they want that they think will maximize their profits, and what they're worried about is if they allow a guy like Stefan Mola. To continue. To, tell the truth on his podcast, that is going to anger. The black lives matter people who don't want the truth to get out there and because black live matter is now so popular and has so much power that they are going to bring that power to bear and potentially cost Youtube Google to lose advertising revenue to have all sorts of problems so rather than deal with that. They make a decision that their shareholders are best served by just kicking stuff on Mojo off their platform. I mean it's a lot easier to do that. Just label him a white supremacist and get rid of them right and so they have a right to do that. I'm saying they can't, but it's very unfortunate. That this group now has so much power that the American public so spineless that that this is what's going on, but even if Stefan new were racist, let's say he was a white supremacist and he was saying some bad stuff on Youtube I mean there are plenty of people out there. That say bad stuff on Youtube I mean you've got communist on Youtube navigating communism. Communism has got to be as bad as racism. It's pretty damn bad. I mean think of the the millions and millions of people that have been killed in the name of communists right so people have been killed in the name of racism to, but communism is responsible for a lot of misery and a lot of pain I mean. How can advocating? Communism not be hate. I mean I mean as far as I'm concerned. You know anyone that advocating communism I mean that should be hate speech to, but you know. Youtube is fine with that I. Mean you can advocate Karl Marx. All you want, and you're not going to be kicked off right because that is not what the mob is upset with. They just don't want the mob. To shine a light of truth on any of the lies that they're perpetuating in the name of. That America's this horrible racist country, because they're trying to use racism to drive this political movement of socialism. They're trying to get all these new laws enacted. All these bills passed all based upon the myth of systemic racism, and so they can have anybody out there. Trying to show that myth is not true. I mean the only guy I mean. I see on mainstream. Television is Tucker Carlson I mean I've been watching Tucker on Fox News and he's doing a fantastic job of exposing this nonsense. He's like one of the only guys out. There I really liked Tucker I've got a lot more respect for the guy i. really wish he would have aired that interview I did with him. About the Fed I mean we recorded in an interview and it just never got aired. But I maybe at some point had me on, but I'm glad that Fox. News is thinking with Tucker Carlson and I'm sure there's been a lot of pressure on Fox to fire him I mean God knows. This stuff that he's saying I mean he's got a bigger audience than Steph on Stefan is pretty big, but I think Tucker Carlson is now the number one show on Fox which shows you that a lot of people want to watch this and it's not all racist like. Stefan Mona had a million dollars think there's a million people following a racist meters that many racists in America. This guy really was or white supremacist that he'd have all these followers you know there are people that say. I'm a white supremacist. Jewish. How could I possibly be a white supremacist I'm not even sure who the white supremacists hate more to. Blacks are the Jews. I mean I might even be lower on their totem pole of hate. Then blacks if I ever showed up at a white supremacist rally and they knew I was Jewish and kick the shit out of me so I mean. How can I? I possibly be your white. Supremacist yet Jew at the same time, but they don't care. They still want to say a white supremacist. No I read the Wikipedia page now, which must have been completely changed yesterday as soon as Youtube. Kick Stefan off the platform read that page. It basically says he's a racist. He's a white supremacist. He you know it just basically a parents. BS reasons that Youtube came up with for kicking off the platform. Look as I said they have every right to kick him off. Just be honest about it, did they? Don't label the guy a white supremacists. Personally I would think that Stefan Mulinuu has a lawsuit a defamation lawsuit against Google and I think he should file it because they have a right to the platform. Platform him, but they don't have a reason to lie about why they're doing it in public. They can't say we are the platforming you because you're a white supremacist racist, advocating violence when he's not doing any of that, I think that's slander or libel. I think that's defamation and I think there should be a lawsuit, but you know what I really think should happen if these. Social media platforms like you know YouTube. If they're really going to editorialize right if they're gonNA, look at all the content and decide what's suitable and what's offensive and what's not and they're going to? Cancel People's channels if they don't agree with what they're saying, then I think Congress has to go back and change the exemption from liability that these companies enjoy because what happened was the company's came and said Hey. We're you know we're a public platform. We're providing a platform, so anybody can come up and say whatever they want, and we don't want to restrict it, and so we don't want to be held responsible, because if we're going to have an open platform for everybody to speak their mind, right Kinda like a modern version of a town square. Only we're going to do it. On the Internet, you know people go to the town square and they can say whatever they want. And there's nobody gets sued except the individual person, and so companies like facebook or youtube or twitter, they're saying. Hey, we're just providing this forum and we want to allow freedom of expression freedom of speech, but then we don't Wanna be held legally liable if somebody says something that isn't true or somebody is damaged, you know we don't want to be held liable because we are held liable then we're going to have to police everything that people say we're going to have to start censoring what people say and so so we don't have to do that, so we can provide this forum for open discussion and free speech. Can you protect us from liability from somebody who might sue US because they can? Prove that there was some damages that resulted from an inaccurate. A tweet or a facebook post and congress obliged, and so they enjoy those protections, so now is some guide posts something about you on facebook, or says something about you on Youtube, and it's not true, and as a result you can prove damages like your businesses damaged or something bad happens. You can't go and sue. Youtube or facebook for the damages because they've been protected well. I, think they have sacrificed the right to have that privilege the minute. They are now saying that we are going to. Approve the context that you can't say whatever you want that. You can only say what will allow you to say we can. Only you can only make comments that we agree with or that. We deem appropriate now. They're no longer just providing a public platform. They now become a publisher. They're like publishing a magazine or newspaper Right, and if a newspaper publishes something about you and it's false, you can sue the newspaper. will now I think they got to change these rules so if Somebody publishes something. Somebody writes something. That's false. That's. Defamation and puts it up on facebook. You should now be able to sue. facebook are usually youtube all these companies that are d platform people because they are making the editorial decision that they don't like what they have to say that. They think it's false. Think. It's offensive well now. They're not providing these open forums that they were providing, and we're the basis for these liability protections, but of all the efforts to tear down all the statues and to whitewash, history or basically a change history. It to conform to this new view of America and so-called. Systemic racism. The one effort that I think I can actually get behind is i. read that, Princeton. University now has decided. That Woodrow Wilson is a racist now I don't really know I mean. They said he had racist ideas or racist policies. I'll know maybe did I'm not really sure, right? But he was a twentieth president of the United, states and he was significant at Princeton there was his name on some buildings or departments were named after Woodrow Wilson. twenty-eighth President States, but they decided that they're going to remove his name from the buildings, because of his racist views and policies, and you know something. I could really get on board with this. I think that we should get rid of everything. That Woodrow Wilson did I mean any law that he signed any bill that he signed into. Law is tainted by his racism, and so we need to repeal. The laws that were signed by Woodrow Wilson, the two, most important, being the federal income tax, and Federal Reserve both of those acts were signed into law by the Racist Woodrow, Wilson, and of Woodrow Wilson was a racist. Then those laws, the income tax is based on racism it. It owes its existence to a racist. The same thing is a Federal Reserve. It was conceived in racism. It was signed into law by racist. That taints the entire. Entire Institution we need to govern the Federal Reserve, and we need to get rid of the income tax. Because America is not a racist nation, we need to purge this nation of anything that is related to racism, so if Woodrow Wilson is responsible for the income tax than anybody who pays in compacts is complicit in his racism. I mean so. I think that people should just say hey I'm not going to pay the income tax I woodrow. Woodrow Wilson signed that Racist Law I'M NOT GONNA pay that tax, because paying that tax would basically make me a racist and we need to get where the Fed reserve. We need honest money. We can't circulate these Federal Reserve notes because these Federal Reserve notes only exist because the racism of Woodrow Wilson so finally. The black lives matter is are pushing something that I can actually get behind. I realized that some of the comments that I made. Made on this podcast or not going to sit well with the black lives, matter crowd, assuming them actually listened to my Youtube Channel fortunately, probably most of them don't but to the extent that it gets out there, and they put some pressure on Youtube. It's possible that I could be platform to be kicked off of Youtube. Just like stuff on molineaux now. I recognize that I'm you know I am going to try to tone down? My comments on this topic coming. I brought it up today. Because, it was very relevant because of what happened today with Powell and Mnuchin testimony before Congress. So, I'm not going to make it. The focal of my of my podcast because I recognized that I'm treading on dangerous ground with the Youtube and again youtube. It's their prerogative I mean they can decide who they want to do. Business with, and they don't want to do business with me than they have a right to stop, but make sure that you. You know even if I get kicked off, right, you'll still be able to listen to buy podcasts. On! SCHIFF RADIO ON SHIFT RADIO DOT COM by the way we recently redid the entire website, so if you're not listening to the podcast on shift radio, go check out my new website. Paul Maresca who works with me, did a great job on redesigning it. So make sure and check it out, but yeah, if I get kicked off a youtube, then that's where I'm going to be now. I gotTA figure out a different way F-, I wanNA do videos, and I'll have to do videos using a different platform other than youtube a hopefully that won't happen, but we are going to be backing up our our content, just in case to make sure that even if you to decide to kill me that I'll continue to live on. But this is you know it's unfortunate that this is what it's come to. This is what the world has come to, and it's even possible that I could be kicked off for youtube for reasons having absolutely nothing to do. With razor black lives matters. Who knows I mean once they start kicking people off. I mean who knows I mean. They can start kicking people off. Who criticized the Federal Reserve who criticized Kagera sewer? Telling the truth about the economy, there could be all sorts of reasons that you're gonNA. Get Get yourself kicked off. Although I don't know that there's going to be as much of a political movement. That we have right now, so this could be a unique situation where. Everybody just feels incredible pressure to just surrender to this narrative, because nobody wants to be labeled a racist, and so the only way you can. You can escape that fate is just basically surrender, and just admit to everything that they want you to admit for and to atone for sins that you've never committed.

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Wall Street Breakfast March 12: Dow Ends Historic 11-Year Bull Run

Wall Street Breakfast

07:58 min | 5 months ago

Wall Street Breakfast March 12: Dow Ends Historic 11-Year Bull Run

"Welcome to seeking Alpha's Wall Street breakfast. Your daily source of market news and analysis. Subscribe to this podcast on Apple podcast. Google podcast spotify stitcher. Good Morning. Today is Thursday march twelfth. You're listening to seeking Alpha the leader in market news and analysis. I'm Marina Sherbro. In for Steve Brown and this is Wall Street breakfast. Our top stories today S. and P. Five hundred and Nasdaq futures fell again markets. Seem to be moving on. Oil Corona virus headlines and fiscal stimulus and Boeing is freezing new hiring and overtime leading. Today's news S. and P. Five hundred and Nasdaq futures fell another four point. Six percent in overnight action as the two indexes looked to join the Dow Jones Industrial Average in bear market territory the ladder which tumbled another twelve hundred points in recent hours crashed on Wednesday after the. Who classified the corona virus outbreak as a pandemic for the first time threatening more disruptions to the world economy president trump said all travel from Europe to the. Us would be suspended for thirty days and instructed the SBA to provide low interest loans efforts were also announced defer tax payments and payroll tax relief but investors seem to have been looking for more in other market news market seemed to be moving on three data points. Oil Corona virus headlines and fiscal stimulus consumer sitting at home and not out spending money is the ultimate negative outcome added Scott Wren senior global market strategist at Wells Fargo Investment Institute. The average bear market wipes about thirty six percent off the S. and P. Five hundred and lasts for about seven months according to Dow Jones Market Data while some traders say. It won't be there for long. Others say depends on whether the economy has into a recession which are typically accompanied by steep share price declines around seventy million to one hundred and fifty million people in the US will become infected with the krona virus. According to Dr Brian Monaghan the attending physician of Congress and the US Supreme Court. The Fed is raising the maximum offering of its daily operations in the repo market. To one hundred and seventy five billion from one hundred fifty billion through mid April while the NBA announced it will suspend the season until further notice. Italy has also tightened. Its nationwide lockdown. After the nation's Corona virus death toll jumped thirty percent in twenty four hours ordering all non-essential shops in services to close supermarkets and pharmacies will remain open. Europe is awash with red with the Euro Stocks. Fifty tanking nearly seven percent during the session. After president trump blame the continent for not taking adequate action to control the spread of the virus. The plunge arrives ahead of the latest monetary policy decision from the BBC which is expected to announce stimulus measures to mitigate the economic impacts of the corona virus. The Bank of England cut rates earlier. This week during the session in Asia The B. O. J. Governor said the Central Bank was ready to respond with further steps without hesitation. Jet Blue CEO Robin Haines said. This is probably worse than the demand experience after nine eleven. An unprecedented thirty day ban on foreigners arriving from most of Europe is set to further royal the travel industry especially ahead of the peak spring and summer travel season. The State Department has further issued a level three warning that recommends. Us citizens to reconsider all travel abroad. Even country's jurisdictions or areas where cases have not been reported may restrict travel without notice turning out a stocks. Boeing is freezing new hiring overtime except in certain critical areas to preserve cash as the corona virus compounds the follow from a year old grounding of. It's seven thirty seven. Max News that Boeing was planning to draw down the rest of thirteen point eight billion loan. It took last month sent shares tumbling eighteen percent on Wednesday their biggest one day percentage drop since nineteen. Seventy four other issues. Boeing books forty six cancellations last month resulting in a net loss of twenty eight orders as carrier switch from the grounded. Max to other planes. Carl ICAHN has doubled down on a fight to take control of Occidental. Petroleum upping his stake in the embattled gas producer to ten percent from two and a half percent at the end of last year. The activist investor has long criticized the company for its thirty eight billion acquisition of Anadarko Petroleum and is seeking to replace entire board including CEO. Vicky holiday at its annual meeting this Spring Occidental's market value has shrunk to less than eleven billion for more than forty six billion just before the deal was struck prompting the company to slash its dividend this week and cut fiscal year. Twenty twenty capex spending twitter wrote in a blog post. We are moving beyond our earlier guidance of strongly encouraging work from home provided on. March second and have now informed all employees globally. They must work from home. The company will also provide reimbursement toward additional daycare. Expenses Home Office setup costs and continue to pay salaries to contractors and hourly workers who are not able to perform their responsibilities from home. The new policy applies to all employees globally about forty nine hundred workers. Youtube will discontinue classifying corona virus content as sensitive event enabling ads on some videos discussing corona virus according to the company's CEO. Read a blog post. It's becoming clear. This issue is now an ongoing and important part of everyday conversation and we WANNA make sure news organizations and creators can continue providing quality videos in a sustainable way. Youtube previously did not allow monetization if the video includes more than a passing mention of the Corona Virus Amazon is providing up to two weeks of pay for employees diagnosed with the corona virus or placed in quarantine. It's also establishing the Amazon Relief Fund with an initial twenty five million to support delivery service partners flex workers and seasonal employees experiencing financial stress due to the virus said Beth Colletti Amazon's VP of human resources. The health and safety of our employees and contractors around the world continues to be our top priority as we face the challenges associated with corona virus other market headlines to watch for on seeking Alpha California ends Fight Against T. Mobile Sprint merger starboard nominated slate of directors to Ebay Board Pepsi Coghlan's Rockstar Energy for three point. Eight five billion. Bombardier CEO is out end of an era MODELL'S FILES FOR BANKRUPTCY AND IRAN TURNS TO IMF for five billion in Corona Virus Aid as a six twenty am today stock futures. Crude gold and Bitcoin are all down and on the economic calendar. Look for the initial jobless claims report at eight thirty A. M. That concludes. Today's Wall Street. Breakfast thanks so much for listening for the best investment analysis and news on the web go to seeking Alpha Dot Com. Subscribe to this. Podcast and Google. Play Apple podcasts. Soundcloud spotify stitcher. You can sign up for other podcasts. Behind the idea the cannabis investing podcast essay for F. as let's talk. Atf's Alpha trader and the Marketplace Roundtable. Podcast on those platforms as well have a great day.

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HTC Announces Vive Focus Plus - DTH

Daily Tech Headlines

05:05 min | 1 year ago

HTC Announces Vive Focus Plus - DTH

"Real protection means having a safe and smart home custom fit to your lifestyle with eighty you can set up automations unique to your home to automatically do things. Like lock the doors and set the thermostat when you leave even close your garage door from virtually anywhere. That's real protection with the AT go app. SOS button. The safety net of AT is always with you. Visit ADT dot com slash podcast to learn more about how ADT can design and install a secure smart home. Just for you. And then. Daily to cut lines for Thursday, February twenty first twenty nineteen. I'm Sarah, lean Samsung announced the galaxy fold Afon phone that unfolds into a tablet. It has a four point six inch front display and a seven point three inch Infinity flex tablet display when unfolded it contains five twelve gigabytes of storage can show three apps at once tiled onscreen for multitasking and conflict between screens without pause. The galaxy fooled arrives on April twenty eighth and LT and five G versions starting at one thousand nine hundred eighty dollars. Samsung also announced new versions of the galaxy S ten with an inscription ultrasonic fingerprint reader that can work with wet fingers and three rear cameras. It can also wirelessly charge. Other devices, the eight hundred ninety nine dollars six point one inch S ten the one thousand dollars six point four inch S ten plus and the seven hundred forty nine dollars five point eight inch s ten e are all available for preorder shipping on March eighth aversion with five G will arrive later this year coming I two Berezin in the US open. That's not all new wearables coming. From Samsung the galaxy buds are wireless bluetooth ear buds and are charging case for one hundred thirty dollars. Coming March eighth. The galaxy watch active measures blood pressure heart rate and track sleep coming March eighth for two hundred dollars and the galaxy fit has a color amyloid touchscreen coming in Q, two sources told the Wall Street Journal that apple and Goldman Sachs are working on a joint credit card which will integrate with an updated apple wallet app and include features like the ability to set spending goals track purchase rewards and potentially offer other awards like two percent cashback. The card is said to be intesting with employs now with a public launch later this year the card which the journal I reported was in the works in may of last year will reportedly use the MasterCard network. Sources tell Reuters that lift will launch the roadshow for its IPO the week of March eighteenth, which would make it the first US ride hailing company to IPO. Dow Jones also reported that lift could make its filing public as early as next week and plans to list on the NASDAQ. Rival Uber is said to be several weeks behind lifts timeline for its own IPO lift also announced its most affordable right option called shared saver in Denver, Colorado, and San Jose writers can lock in low prices, even during peak hours and shared sabre is not affected by surge. Pricing back in November Google security researcher, Ivan Frederick found a white list within Microsoft edge browser that lets Facebook run adobe flash code without users knowing the flash white-list originally had fifty eight entries including domains and sub demands for Microsoft's main site. The MSN portal music streaming service diesel yahu and Chinese social network Q Q, it appears that Microsoft shorten the list who just to Facebook domains earlier this month. However, a Facebook spokesperson tells ziti net. They didn't ask Microsoft to be on the white list. And in fact, had asked Microsoft to remove the domains adobe and major browser makers all plan to sunset flash completely by the end of twenty twenty and Microsoft says it plans to. Switch edge from its proprietary edge HTML browser engine to Google's chromium HTC announced the vibe, focus. Plus that includes a pair of its updated motion controllers that the company I announced as developer hardware back in October. The vibe focuses original single controller supported three degrees of freedom. These new controllers support six so they can be tracked as they move around as well as rotating on the spot. This puts HTC in competition with Oculus quest a standalone headset with two controllers that do the spring the via focus plus is aimed primarily at business customers, and we'll be available in twenty five countries, including the US, Canada, the UK Australia, Japan and China though, no word on pricing just yet. And finally, Twitter's asking its users to apply to take part in a test of a redesign of conversations meant to quote, make it easier to see more of what people are saying a rounded shape makes thread, look more like text messages replies are in dented and replies. From people. You follow are in blue. While replies. From a person who started the thread earn gray Twitter will also test hiding likes and re tweets unless you click to reveal them. For more discussion of the tech news of the day. Subscribe to daily tech new show dot com. I'm Sarah lane. Thanks for listening. We'll talk to you next time.

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U.S. Stocks Close Higher in Rocky Session

WSJ Minute Briefing

01:35 min | Last month

U.S. Stocks Close Higher in Rocky Session

"Business casual is a new podcast by morning brew that Makes Business News enjoyable, relatable and Dare I say fun I interview the biggest names in business covering topics like how technology is changing the fitness industry, and the economics of influence or marketing. It's the business podcast you smarter and makes you laugh. Listen to business casual wherever you get your podcasts. Here's your closing bill brief for Thursday June twenty fifth I'm Jay Waylon for the Wall Street. Journal, another choppy trading day with stocks, wavering between gains and losses before moving higher by day's end the Dow Jones. Industrial Average rose two hundred and ninety nine points, and closed at twenty, five, thousand, seven, forty, five, the Nasdaq was up one hundred seven points, and the S. and P. Five hundred rose thirty three traders continue to weigh positive data on the US economy against jumping corona virus cases in several states. Banks were big winners today after the FDIC voted to rollback regulations that could free up tens of billions of dollars for them. AMERIPRISE financial rose six percent while wells. Fargo closed about four point. Eight percent higher and Goldman Sachs was up nearly four point. Six percent shares of bear fell six percent a day after the pharmaceutical suitable giant said would pay up. Up to ten point nine billion dollars to settle lawsuits, alleging as weed killer roundup causes cancer and shares of macy's fell four point one percent, the retailer said it's cutting thirty nine hundred corporate jobs or three percent of its workforce through the economic crisis. We have more details on today's market activity and market analysis at WNYC DOT COM, and the WSJ APP.

Goldman Sachs Jay Waylon WSJ FDIC AMERIPRISE Dow Jones WNYC macy Fargo US cancer six percent nine billion dollars Eight percent three percent twenty fifth Six percent one percent
Monitor Show 15:00 07-30-2020 15:00

Bloomberg Radio New York - Recording Feed

01:42 min | 6 d ago

Monitor Show 15:00 07-30-2020 15:00

"Twenty four hours a day at Bloomberg dot com on the Bloomberg business APP and Bloomberg. Take this is Bloomberg radio. From Bloomberg, world. Headquarters I'm Charlie Pellett move into the final hour of trading on this Thursday July thirtieth we've got stocks trading mixed s and p off session lows Nasdaq one hundred index higher. Nasdaq advancing as well. Apple Amazon Alphabet facebook. All scheduled for report results just about one hour from now after the close of trading here's where we stand with the S. and P.. Five hundred index down twelve drop their of four tenths of one percent pairing earlier losses have been down as much as one point seven percent Dow Jones industrial average down to one hundred sixteen, it happened down five, hundred, forty, seven a loss right now of eight tenths of one percent Nasdaq advancing forty-nine point five tenths of one percent the Nasdaq one, hundred index by point five. Four percents tenure up ten, thirty seconds the yield on the ten year. Now, point five, three percent gold is down nine tenths of one percent, nineteen fifty, three ounce and West Texas intermediate crude oil down two point seven percent, forty dollars and fourteen cents. A barrel America's alarming level of jobless claims persists as the economy struggles and with more. Here's Bloomberg's Vinny del Jude Ice. Jobless claims rose for a second week. The coronavirus intensifies pitting one point four, three million claims have been running up one million since March, the crisis shows no sign of letting up a citizen states impose no restrictions and businesses suffer the consequences of the worst economic shocks the Great Depression Penny Dow Jeopardise Bloomberg Radio United. Parcel Service's often seen as an economic bellwether UPS shares searching.

Bloomberg Dow Jones Vinny del Jude Ice Charlie Pellett Parcel Service facebook West Texas Apple America one percent seven percent Twenty four hours thirty seconds forty dollars three percent three ounce one hour
Monitor Show 17:00 07-23-2020 17:00

Bloomberg Radio New York - Recording Feed

01:42 min | Last week

Monitor Show 17:00 07-23-2020 17:00

"Today at Bloomberg Dot Com on the Bloomberg business APP and Bloomberg take. This is Bloomberg radio. From Bloomberg World, headquarters, I'm Charlie. Pellett Intel shares are plunging hours following its latest quarterly results, Intel slumping after the world's largest chipmaker set a new seven nanometer production process has been delayed again shares now down by just about ten percent US stocks tumbled to the lowest a week after an unexpected rise in jobless claims rekindled concern. The economic recovery has stalled as for today's economic data, and how that plays into the shape of the recovery, Brea Misrey as global head of rates strategy of TD SECURITIES USA in shape recovery is very hard to see where the. Virus. Also that bottle. The veto we've seen of late has been stimulus impacted even as we get consensus in. The toussaint till seat far would even get three. One one and a half trillion to you're not going to get that team kind of stimulus. I see a very choppy recovery. And a choppy session today with the SNP down forty declining one point, two percent, Dow Jones industrial average down three, hundred, fifty, three, a drop of one point, three percent Nasdaq down two, hundred, forty, four, a decline there of two point, three percents tenure up six thirty seconds with a yield of point, five seven percent gold at eighteen, eighty seven, the ounce west Texas intermediate crude, lowered today by two percent at just about forty, one zero, six, o'clock on West Texas intermediate crew. At and T. says three, hundred, thirty, eight, thousand regular mobile phone customers stopped paying for their service during the covid nineteen Christ.

Bloomberg Bloomberg World Bloomberg Dot Com Intel SNP Brea Misrey Dow Jones TD SECURITIES USA West Texas Texas US global head T. two percent five seven percent six thirty seconds seven nanometer three percent