Spin Of The Union

[SPEAKER_01]: Make no friends in the pits and you take no prisoners. [SPEAKER_01]: One minute, you're up half a minute and soybeans in the next pool. [SPEAKER_01]: Your kids don't go to college and they've registered mentally. [SPEAKER_01]: With me? [SPEAKER_01]: The revolutions start now. [SPEAKER_01]: Start. [SPEAKER_00]: We have to pass the bills so that you can find out what is in it. [SPEAKER_00]: Card does machine back off. [SPEAKER_01]: You are about to enter the Peter ship show.

[SPEAKER_01]: If we lose freedom here, there's no place to escape to. [SPEAKER_01]: This is the last stand on Earth. [SPEAKER_01]: The Peter ship shall be solved. [SPEAKER_01]: I don't know, when they decided that they wanted to make a virtue out of selfishness. [SPEAKER_01]: You're money. [SPEAKER_01]: You're storing this. [SPEAKER_01]: You're freedom. [SPEAKER_01]: The Peter ship shall.

[SPEAKER_00]: Well, come everybody, well, hopefully everybody got a chance to listen to the longest, I think, state of the union address ever, at least the longest one, I can remember watching. [SPEAKER_00]: And you know, it started even later for me here in Puerto Rico because we're an hour past East Coast time. [SPEAKER_00]: So the president started to talk at 10 o'clock. [SPEAKER_00]: So it was beyond midnight by the time he wrapped it up.

[SPEAKER_00]: And anyway, I was particularly upset about the whole thing, not just because it was unnecessarily long and I don't object to some of the metals that were awarded to some deserving people.

[SPEAKER_00]: Although I don't know when that became part of the state of the union, I don't know when they started like, I don't know if I even remember a state of the union where they handed out these presidential awards, [SPEAKER_00]: But what bothered me about the state of the union was all the lies, the exaggerations. [SPEAKER_00]: that were told. [SPEAKER_00]: I mean, it wasn't just spin. [SPEAKER_00]: I mean, they're always trying to put a good spin on stuff, right?

[SPEAKER_00]: No matter, you know, who you are, you know, you always come out and say that the economy is doing good to stay at the union strong, even when that's not the case. [SPEAKER_00]: But the lies really are just over the top. [SPEAKER_00]: I mean, not that everything that the president said was [SPEAKER_00]: But I want to focus on those because there were a lot of them.

[SPEAKER_00]: And the ones that I'm most concerned about and the ones I'm going to discuss on today's podcast are the ones that relate specifically to the economy because that's really my area of expertise, what I think is relevant to the audience, to my clients, is the economy. [SPEAKER_00]: I mean, there were lies that had nothing to do with the economy, but I'm just going to let [SPEAKER_00]: And I just don't really feel like discussing them all.

[SPEAKER_00]: I was writing down a bunch of notes as I was watching the address. [SPEAKER_00]: And I'm just going to kind of discuss what I wrote down in the order that I jotted it down, which I suppose is the order in which the president spoke these things.

[SPEAKER_00]: So one of the first things he started to talk about was housing. [SPEAKER_00]: And he talked about housing several times during his talk. [SPEAKER_00]: But one of the things he flat out came out and said, [SPEAKER_00]: And he had mentioned this before, and I pointed out the absurdity of it before, and this is not a lie. [SPEAKER_00]: This is just an example of really bad policy that he's advocating.

[SPEAKER_00]: Trump said his main goal is to keep housing prices high and to make sure they keep going [SPEAKER_00]: who want to buy a home, why is preventing real state from becoming more affordable, you know, a good objective for the president to have, you know, the first time home buyer now is 40 years old. [SPEAKER_00]: I don't know, I don't know when, but the reason people have to wait [SPEAKER_00]: There may be some young families who would like to have a home in their early thirties.

[SPEAKER_00]: The best way to make that possible is for the price to go down. [SPEAKER_00]: But Donald Trump said he doesn't want that. [SPEAKER_00]: And he specifically said the reason. [SPEAKER_00]: He wants the people who own homes to be rich, to stay rich. [SPEAKER_00]: He's very excited that people own overpriced homes. [SPEAKER_00]: Now, how do I know the homes are overpriced because they're not selling?

[SPEAKER_00]: There's a record now amount of unsold homes, real state transactions or collapsing because there's a big disconnect between the price and what people can afford to pay. [SPEAKER_00]: Now ultimately, the market will correct that disconnect with a drop in prices. [SPEAKER_00]: That's inevitable. [SPEAKER_00]: That is the free market solution. [SPEAKER_00]: when you have over-priced homes, the prices come down, because home prices are worth what the buyer can afford to pay.

[SPEAKER_00]: Because at the end of the day, if you have to sell your house, you can only sell based on what somebody is willing and able to pay. [SPEAKER_00]: Now, if you don't want to sell your house, then you don't have to sell. [SPEAKER_00]: You can't just pretend that your house is worth, let's say, a million dollars, if you can't sell it for a million dollars, if you'd have to drop the price to 600,000 to sell it, then that's what it's worth.

[SPEAKER_00]: But what Donald Trump wants is for people to keep pretending that it's worth a million. [SPEAKER_00]: He doesn't want them to have to deal with reality. [SPEAKER_00]: He wants homeowners to live in fantasy land. [SPEAKER_00]: But of course, you know, if they're in fantasy land, maybe he thinks they'll vote Republicans or something, if they think that their homes are still worth, you know, those high prices.

[SPEAKER_00]: But he wants to solve the affordability problem by forcing down mortgage rates. [SPEAKER_00]: And he bragged about that about having Fannie and Freddie. [SPEAKER_00]: by mortgages.

[SPEAKER_00]: Now, one thing he didn't mention for all you people who owned Fannie and Freddie stock, it's one of the truck trades, he didn't mention anything about any kind of Fannie and Freddie IPO or so that obviously is not something that's on the president's agenda because he would have, you know, laid it out in the state of the union. [SPEAKER_00]: But his main concern is keeping mortgage rates as low as possible.

[SPEAKER_00]: And that probably means not doing anything with Fannie and Freddie. [SPEAKER_00]: Because anything he does with Fannie and Freddie is ultimately going to lead to higher interest rates. [SPEAKER_00]: and he wants lower interest rates because he wants to enable people to overpay for homes by giving them cheap credit. [SPEAKER_00]: But that is, again, the worst economic policy. [SPEAKER_00]: We need higher interest rates, interest rates are too low and real estate prices are too high.

[SPEAKER_00]: And the reason that real estate prices are too high is because interest rates were so low. [SPEAKER_00]: The solution to this problem is not to try to maintain artificially high home prices by suppressing interest rates even more and exacerbating both problems. [SPEAKER_00]: The solution is to allow home prices to fall. [SPEAKER_00]: So that people can't afford to buy them without barring so much money. [SPEAKER_00]: So the mortgage is not as important.

[SPEAKER_00]: If the home price goes way down, and you don't have to borrow as much money, you can still have lower monthly payments. [SPEAKER_00]: But Trump wants to achieve home affordability by artificially suppressing the mortgage rate to make it easier for people to overpay for these homes. [SPEAKER_00]: But this is horrible economic policy. [SPEAKER_00]: that created the 2008 financial crisis.

[SPEAKER_00]: Uh, yet this is the policy that the Donald Trump is committed to pursuing and all Republicans should be against this policy, but of course they won't be because they all follow Trump almost in lockstep.

[SPEAKER_00]: And then if you don't, uh, you're going to get, you know, vilified, you're going to get primary that president is going to do everything he can to get back at anybody who doesn't [SPEAKER_00]: You know, that's why, you know, it's not just Trump that is telling lies in the state of the union. [SPEAKER_00]: It's all the Republicans that are behind these lies and that repeat these lies and then make excuses for these lies. [SPEAKER_00]: There are no excuses.

[SPEAKER_00]: I can't stand it when [SPEAKER_00]: politicians lie, which is why I just can't stand politicians, because that's pretty much all they do. [SPEAKER_00]: And that's why, you know, I don't really have a career in politics, because I don't like to lie. [SPEAKER_00]: Not only, I don't like to be lied to, and I don't like to lie. [SPEAKER_00]: And so it just really bothers me when I hear this stuff.

[SPEAKER_00]: The next thing he started talking about, he started bragging about the stock market, almost immediately, right, into the state of the Union. [SPEAKER_00]: He's bragging about 50,000 dowels. [SPEAKER_00]: When the dowels didn't even add 50,000 anymore. [SPEAKER_00]: And in fact, I think as of maybe yesterday, the market was up a bit today, but the S&P 500 was actually negative on the year. [SPEAKER_00]: So we were having a down year.

[SPEAKER_00]: almost at the end of the first two months. [SPEAKER_00]: But the Dow right now is about 49,000, 400 and change because it was up. [SPEAKER_00]: Well, over 300 boys today. [SPEAKER_00]: But he's again, he repeated. [SPEAKER_00]: He said that we achieved 50,000 Dow four years ahead of schedule. [SPEAKER_00]: First of all, what schedule was there? [SPEAKER_00]: There was never a schedule about when the Dow was supposed to go anywhere.

[SPEAKER_00]: And of course, the president's job is not to get the doubt to go up. [SPEAKER_00]: That's not why we elect a president. [SPEAKER_00]: He's not in charge of the stock market, the stock market's supposed to reflect the value of companies. [SPEAKER_00]: It's not like, you know, the president has some kind of mandate to have the stock market hit a particular level. [SPEAKER_00]: But according to Trump, we got to 50,000, four years ahead of schedule.

[SPEAKER_00]: Like, you know, but there was no schedule, but the reality is when he took office, the Dow was at 44,000. [SPEAKER_00]: He really thought that the schedule, the schedule, was for the Dow to go up 6,000 points in four years. [SPEAKER_00]: That had been like the worst four-year period in the history of the Dow. [SPEAKER_00]: I mean, other than maybe a major bear market like in the 70s or something. [SPEAKER_00]: I mean, that would be nothing.

[SPEAKER_00]: 3% a year on the Dow, that was the schedule. [SPEAKER_00]: I mean, who talked that that was the schedule? [SPEAKER_00]: I mean, everybody was way more optimistic than that. [SPEAKER_00]: And he keeps trying to take credit for this miracle that he got the Dow to 50,000 in a year. [SPEAKER_00]: When that's only about 12% higher than it was when he took office.

[SPEAKER_00]: And that's much less [SPEAKER_00]: then what the Dow went up during the first year of Biden, I mean he talks about how Biden was the worst president in the history of the world, yet the Dow did better under Biden than it's doing on the Trump. [SPEAKER_00]: So, you know, if the Dow was the benchmark, [SPEAKER_00]: We got a worse economy now than we had underbited. [SPEAKER_00]: Now, I don't think we had a good economy underbited either, but we don't have one under Trump.

[SPEAKER_00]: And you certainly can't claim we have one based on the stock market. [SPEAKER_00]: And again, I mentioned this in an earlier podcast, we've got like the worst performing stock market in the world since Trump was elected. [SPEAKER_00]: You know, my, my far and stock funds, we were up, you know, I don't have better than 10%, 10%, 11%, 12%, gold fund, you know, up, 25% or something this year, but my far and funds are up, double digit, um, the U.S. market is flat.

[SPEAKER_00]: So, if you're going to base, [SPEAKER_00]: the economy on the stock market. [SPEAKER_00]: How is he saying we got the hottest economy in the world, which he said again? [SPEAKER_00]: He repeated that. [SPEAKER_00]: We have the hottest economy in the world. [SPEAKER_00]: Well, based on the stock market, we've got the coldest, because we've certainly got the coldest stock market in the world. [SPEAKER_00]: You could easily see that in the numbers.

[SPEAKER_00]: So if you're going to, you know, grade our economy based on the stock market, which Trump wants to do, it's an F. Stock market performance is bad. [SPEAKER_00]: But Trump just pretends it's great. [SPEAKER_00]: Then even matter what the truth is, he just, you know, repeats that lie. [SPEAKER_00]: He just tells it loud and over and over again.

[SPEAKER_00]: and and and everybody just seems to accept it as if it's actually true anyway we got a quick commercial break we're coming right back i got a lot more to talk about from the spin of the union so uh... don't go away all right so i am going over uh... the various uh... lies uh... from the state of the union dress so again trump claim we have the hottest economy anywhere in the world [SPEAKER_00]: And he said, before he took over the country was dead, dead.

[SPEAKER_00]: We had this horrible country that was dead. [SPEAKER_00]: And he brought it back to life. [SPEAKER_00]: Now again, this is all BS, not that I'm a big believer in GDP, but I mean GDP is what a lot of people like to throw around as the economy. [SPEAKER_00]: So last year, 2025, that was the first year that Trump was president.

[SPEAKER_00]: I mean, yeah, it wasn't president for the whole year because he took office in January, but you know, January 20th, but let's just take the whole year. [SPEAKER_00]: during Trump's first year, 2025. [SPEAKER_00]: Okay, well, that's an example of a hot economy that has come back to life. [SPEAKER_00]: What was the cold economy we had under Biden? [SPEAKER_00]: Well, in 2024, Biden's last year, GDP was up 2.8%. [SPEAKER_00]: So the economy grew faster when it was dead.

[SPEAKER_00]: Then it did, [SPEAKER_00]: when Trump brought it back to life.

[SPEAKER_00]: So how are you supposed to say that the economy was dead in 2024? [SPEAKER_00]: And now it's the hottest in the world when it actually grew more in 2024 than it did in 2025. [SPEAKER_00]: Now I don't know what it's going to be. [SPEAKER_00]: in 2026, but I know that the last quarter of 2025, or the estimate was 1.4% GDP growth. [SPEAKER_00]: Or is that, yeah, I mean, so the numbers are coming down.

[SPEAKER_00]: The economy is weak, yes, it was weak under Biden, but it's still weak under Trump. [SPEAKER_00]: This is all a fantasy that Trump has somehow believes, or maybe he doesn't believe, and it's just the art of the lie. [SPEAKER_00]: I don't know. [SPEAKER_00]: I don't know whether he believes it himself, or this is just how he's promoting everything. [SPEAKER_00]: And then after he talked about that, about how we got this hot economy.

[SPEAKER_00]: He then started talking about how everybody keeps coming up to him and saying, sir, we're winning so much, sir. [SPEAKER_00]: I don't know how to handle all this winning. [SPEAKER_00]: Can you please, please stop. [SPEAKER_00]: I can't take it anymore. [SPEAKER_00]: Like we just win a little less often. [SPEAKER_00]: We got to lose once in a while. [SPEAKER_00]: I mean, I can't handle this constant winning. [SPEAKER_00]: Like we're winning all the time.

[SPEAKER_00]: I don't know what the hell he's talking about. [SPEAKER_00]: Yeah, I know we won the hockey game, right? [SPEAKER_00]: for the that the hockey goal medal. [SPEAKER_00]: But yeah, we want a few things. [SPEAKER_00]: But is anybody really coming to Donald Trump complaining about excessive winning that we're just winning so much now that it's just ridiculous that it's unfair that we're just winning constantly? [SPEAKER_00]: What exactly have we won?

[SPEAKER_00]: You know, nothing, nothing that all of this stuff that Trump is talking about is just not happening. [SPEAKER_00]: Now he bragged about his tax cuts and he said that we had the largest tax cuts in the history of the country. [SPEAKER_00]: That's not true. [SPEAKER_00]: I mean, we've had plenty of tax cuts that were bigger than the big beautiful bill. [SPEAKER_00]: Yes, it was a significant tax cut.

[SPEAKER_00]: That was a problem because we cut taxes when we already had big deficits. [SPEAKER_00]: So we couldn't afford a tax cut yet we got one anyway. [SPEAKER_00]: So cutting taxes was not a good thing. [SPEAKER_00]: Now, not that I am in favor of high taxes, I'm not. [SPEAKER_00]: But I recognize that if we're not going to cut spending, then a tax cut is a lie. [SPEAKER_00]: that the cost of government is not measured by what it collects and tax revenue, but by what it spends.

[SPEAKER_00]: So I want real tax cuts, which means you cut government so that government cost less money because we have to pay for government. [SPEAKER_00]: whether we pay for it through taxation or through debt and inflation, we're still paying for it. [SPEAKER_00]: Taxation is actually the cheapest way to pay for government. [SPEAKER_00]: Trump's way is even more expensive.

[SPEAKER_00]: The public is going to pay more for government because of these tax cuts than they would pay to had we not cut taxes. [SPEAKER_00]: So he didn't do anybody any favors, but people think they got something, right?

[SPEAKER_00]: the fact that it's not even the biggest tax cut he can't even be honest about that why doesn't he just say one of the biggest tax cuts that would be true i mean i don't even think it was in the top five but it's probably somewhere in the top ten right might maybe it's the six to seven to eight i don't know i mean it's definitely a decent sized tax cut but it's not the biggest [SPEAKER_00]: But for Trump, everything has to be the biggest.

[SPEAKER_00]: And so if it's not, we just lie about it, right? [SPEAKER_00]: And just say it's the biggest. [SPEAKER_00]: And then he went over and said, no tax on tips, no tax on overtime, no tax on Social Security, which first of all is also a lie, because there's still taxes on Social Security. [SPEAKER_00]: A lot of people are paying taxes on Social Security, but there was a tax cut for some people on Social Security.

[SPEAKER_00]: But yes, it is no tax on over time with certain limits and no tax on tips again with certain limits. [SPEAKER_00]: But none of that is good. [SPEAKER_00]: That is not good economic policy. [SPEAKER_00]: That is canesian pump priming. [SPEAKER_00]: That is demand focused tax cuts. [SPEAKER_00]: that increases aggregate demand. [SPEAKER_00]: It doesn't increase supply. [SPEAKER_00]: These are not supply, side, targeted, economic growth tax cuts.

[SPEAKER_00]: These are tax cuts designed to stimulate spending, which is the worst thing that you would do if you're trying to fight inflation. [SPEAKER_00]: because fighting inflation means reducing spending, reducing demand, not boosting it with deficit spending. [SPEAKER_00]: So it's bad economic policy. [SPEAKER_00]: He also bragged about [SPEAKER_00]: Um, the tax deductibility of auto loans when you buy a car that's made in America. [SPEAKER_00]: Now again, that's not a lie.

[SPEAKER_00]: That's the truth, but it's bad policy because it's stimulating demand for cars by allowing people to borrow more money than they otherwise could have borrowed and [SPEAKER_00]: let's see. [SPEAKER_00]: He talked about the Trump accounts. [SPEAKER_00]: Now he claimed that he had nothing to do with naming them the Trump accounts. [SPEAKER_00]: Somebody else just decided to call them the Trump accounts.

[SPEAKER_00]: But again, a bad idea, because where does the government get the money for the Trump accounts? [SPEAKER_00]: It has the borough it. [SPEAKER_00]: Well, who's going to pay back the loans? [SPEAKER_00]: Well, the very people that are supposedly getting these accounts. [SPEAKER_00]: So we're running up the debt for the for the young kids that were supposedly setting aside these accounts for. [SPEAKER_00]: They'd be better off if we just went after the debt.

[SPEAKER_00]: Now, yeah, there are some private people like Michael Dell is putting a bunch of money into these Trump accounts. [SPEAKER_00]: So I guess that doesn't cost the taxpayer anything. [SPEAKER_00]: But the whole idea that the government should do this is raw. [SPEAKER_00]: And again, it's coming from the Trump administration. [SPEAKER_00]: And the Republicans are behind it. [SPEAKER_00]: You know, if Biden, the Democrats came up with this plan, the Republicans would oppose it.

[SPEAKER_00]: Right? [SPEAKER_00]: There are a bunch of hypocrites. [SPEAKER_00]: Then Trump talked about the turnaround in the economy. [SPEAKER_00]: He repeated himself, right? [SPEAKER_00]: That's one of the reasons that the state of the year was so long is because the president kept saying the same stuff. [SPEAKER_00]: He kept finding new ways to repeat what he had already said.

[SPEAKER_00]: uh... but he said it was the biggest turnaround in history in it says so we we had the biggest economic turnaround in history meaning going from the worst economy to the greatest economy and it was like the biggest turn around ever and again he fell back on the dow hitting fifty thousand four years ahead of schedule again there was no schedule and fifty thousand was barely above where it was when he inherited it

[SPEAKER_00]: But again, how is it the biggest turnaround when 2.8% GDP became 2.4% GDP? [SPEAKER_00]: The economy grew slower during his first year than it did during Biden's last. [SPEAKER_00]: What got turned around? [SPEAKER_00]: Nothing. [SPEAKER_00]: Nothing got turned around. [SPEAKER_00]: Nothing got any better. [SPEAKER_00]: This is all again, a fantasy. [SPEAKER_00]: It's not even a turn around.

[SPEAKER_00]: And if it were, it certainly isn't even close to the greatest turn around in history. [SPEAKER_00]: And he credits. [SPEAKER_00]: The turnaround. [SPEAKER_00]: The reason we had this historic turnaround, according to Trump, the turnaround that doesn't exist. [SPEAKER_00]: But the reason that we had this turnaround was because of his tariffs that were just struck down correctly by the Supreme Court.

[SPEAKER_00]: So he's saying we got this great turnaround that didn't happen because of his tariffs that were actually harmful. [SPEAKER_00]: So the economy would have been better than it was, not then it was great. [SPEAKER_00]: But it would have been better than it was without the tariffs. [SPEAKER_00]: Yet he's claiming the tariffs are the reason we had this non-existent historic economic turnaround, which we did not have.

[SPEAKER_00]: Anyway, got one more commercial, so we stick around, we're coming right back. [SPEAKER_00]: All right, I'm going over the lies and just some of the bad policies that Trump was [SPEAKER_00]: in the state of the union address. [SPEAKER_00]: And you know, I just noticed, I missed one of my bullet points that was actually the third one on my list. [SPEAKER_00]: I just missed it. [SPEAKER_00]: So I'm going to go back and hit that one. [SPEAKER_00]: And that was inflation.

[SPEAKER_00]: Trump claimed that he has already ended the record high inflation that he inherited from Biden. [SPEAKER_00]: He said that under Biden, we had the worst inflation in the history of our country. [SPEAKER_00]: The way the government measures it, that's certainly not true. [SPEAKER_00]: The highest rate we got in any one year was 9.1. [SPEAKER_00]: Now, we had plenty of years in the double digits in the 70s. [SPEAKER_00]: Now, we used to measure inflation differently, more honestly.

[SPEAKER_00]: So I think had we measured inflation accurately. [SPEAKER_00]: It is possible that we may have had the worst inflation. [SPEAKER_00]: that one year. [SPEAKER_00]: But Trump didn't phrase it that way. [SPEAKER_00]: He's just talking about the CPI. [SPEAKER_00]: And so it wasn't the worst as far as modern economists would consider it.

[SPEAKER_00]: But he also didn't inherit 9.1% [SPEAKER_00]: 2024, the CPI was 2.9. [SPEAKER_00]: So what Trump actually inherited from Biden was a declining CPI that peaked out. [SPEAKER_00]: in 2022 and had been declining for a couple of years. [SPEAKER_00]: So he inherited that downtrend. [SPEAKER_00]: What Biden inherited from him was the uptrend. [SPEAKER_00]: The big spike in inflation began in 2020 and went through 2021 into 2022. [SPEAKER_00]: Biden inherited that from Trump.

[SPEAKER_00]: That started, the reason we had the big price increases was because of the monetary and fiscal stimulus of 2020 and 2021. [SPEAKER_00]: So Biden inherited a big problem and helped make it worse. [SPEAKER_00]: But he did inherit an inflation problem from Trump. [SPEAKER_00]: That was, in fact, bigger than the inflation problem that Trump inherited from Biden. [SPEAKER_00]: as measured by the CPI during Trump's first year, it fell to 2.7, from 2.9, big deal.

[SPEAKER_00]: I mean, it probably would have been 2.7 anyway. [SPEAKER_00]: If Harrison won, wouldn't have been much different

[SPEAKER_00]: that CPI measured inflation this year will be north of three percent three something maybe four so it's going to be worse so inflation is no longer trending down it's trending up so how did Trump you know solve the inflation problem obviously he didn't now what he pointed to a lot later was these low gas prices you know he claimed that there was a station where there's a dollar eighty five or forget what state no it's not true

[SPEAKER_00]: it's nowhere near that price he talked more about a dollar ninety nine yes gas prices are lower than they were when he took office but they're not that much lower and they're not gonna stay lower they're gonna be higher I think by the end of this year prices for gas will be higher than they were when Trump took office um now getting back to when he talked about the economy [SPEAKER_00]: after he talked about this record transformation.

[SPEAKER_00]: in a turnaround, going from the worst economy in history to the greatest economy in history in a matter of months. [SPEAKER_00]: He then went on to brag about how he got it right and how 22 Nobel laureates, right? [SPEAKER_00]: Nobel prize winners and economics got it wrong because nobody believed that he could turn the economy around the way he did. [SPEAKER_00]: Well, you know what, maybe they're right, because he didn't turn anything around, because nothing is changed.

[SPEAKER_00]: It's all in the president's mind, but apparently he thinks he's this economic genius, and he should have the Nobel Prize in economics, because all the actual Nobel Prize winners got it wrong. [SPEAKER_00]: And he's the only one. [SPEAKER_00]: He's the only one that knew how great this economy was going to be under his leadership. [SPEAKER_00]: When, you know, it's only great in his dreams. [SPEAKER_00]: It's not great in, in reality.

[SPEAKER_00]: Then he talked about the unfortunate ruling by the Supreme Court, right? [SPEAKER_00]: It wasn't unfortunate. [SPEAKER_00]: It was fortunate. [SPEAKER_00]: And it was, it was correct. [SPEAKER_00]: But I guess, gonna try to blame, as I said, [SPEAKER_00]: for any problems in the economy. [SPEAKER_00]: Because he claimed the tariffs were so great. [SPEAKER_00]: And so to the extent that the tariffs go away.

[SPEAKER_00]: Now of course, he's already illegally imposed some more tariffs. [SPEAKER_00]: These 15% across the board tariffs that are also unconstitutional. [SPEAKER_00]: The problem is how long is it going to take for somebody else to challenge this, right? [SPEAKER_00]: but me while they're only temporary and how it took so long for the Supreme Court to rule on these unconstitutional tariffs, which it should not have done.

[SPEAKER_00]: The court should have given this ruling because it was so obvious and they should have ruled it months and months ago.

[SPEAKER_00]: before all these companies paid all these illegal tariffs because now we've got a problem of how do you refund the money and how are people going to get to put in for these refunds and all the problems. [SPEAKER_00]: You know, I got, unfortunately, I left my phone on the other side of the room and somebody keeps calling me. [SPEAKER_00]: So I have no way to stop it from ringing. [SPEAKER_00]: So hopefully they'll get tired of calling me.

[SPEAKER_00]: They've called me twice now, but I don't want to get up and walk to the other side of the room. [SPEAKER_00]: But anyway, so yeah, he's going to be using the Supreme Court as a very convenient [SPEAKER_00]: a scapegoat. [SPEAKER_00]: Then he talked about all the great deals that he had negotiated are going to remain in place, even though the Supreme Court did this unfortunate thing. [SPEAKER_00]: Look, again, there are no great, great deals.

[SPEAKER_00]: I mean, nothing has really happened. [SPEAKER_00]: You know, the trade deficits are pretty much exactly the same. [SPEAKER_00]: I guess they didn't get much worse since he became president, but they didn't get any better, either. [SPEAKER_00]: It's about where they were. [SPEAKER_00]: And [SPEAKER_00]: So we haven't had any improvement. [SPEAKER_00]: We haven't had a bunch of reshoring. [SPEAKER_00]: We haven't brought manufacturing back.

[SPEAKER_00]: Manufacturing jobs have been lost. [SPEAKER_00]: In fact, all of last year, we only gained about 100 and something thousand jobs. [SPEAKER_00]: For the entire year, we barely created any jobs during Trump's first year, yet he's bragging about this boom in hiring.

[SPEAKER_00]: There is no way that you can replace the income tax with tariffs. [SPEAKER_00]: it's impossible. [SPEAKER_00]: That's the reason we don't rely on tariffs because you can't raise the kind of money that the government spends with tariffs. [SPEAKER_00]: That's the problem. [SPEAKER_00]: The reason we could run on tariffs a hundred years ago is because we didn't have so security. [SPEAKER_00]: We didn't have Medicare. [SPEAKER_00]: We didn't have Medicaid.

[SPEAKER_00]: We didn't have the Affordable Care Act. [SPEAKER_00]: We didn't have this massive defense. [SPEAKER_00]: So if we're going to have all this stuff, then we're stuck with the income tax because the only way you can afford this stuff is if you have an income tax. [SPEAKER_00]: So if you don't like paying income taxes and you want to get rid of income taxes, then you got to accept the fact that we got to get rid of all those programs because they go together.

[SPEAKER_00]: You can't have the programs without a way to pay for them. [SPEAKER_00]: And if the government wasn't taking money directly out of people's paychecks, there's no way they would get it. [SPEAKER_00]: Now, personally, yeah, I want to get rid of the income tax. [SPEAKER_00]: I also want to get all get rid of all those programs. [SPEAKER_00]: Those unconstitutional programs that the income tax is funding.

[SPEAKER_00]: But later in his speech, Donald Trump specifically said, will never cut so security. [SPEAKER_00]: We'll never cut Medicare. [SPEAKER_00]: We'll never cut Medicaid. [SPEAKER_00]: I'm going to protect those programs. [SPEAKER_00]: I'm going to make sure there are no cuts to those programs. [SPEAKER_00]: Okay. [SPEAKER_00]: Well, then he's never going to be able to eliminate the income tax. [SPEAKER_00]: is impossible. [SPEAKER_00]: We're going to have to have bigger deficits.

[SPEAKER_00]: We're going to have to have more inflation because Donald Trump refuses to cut any government spending. [SPEAKER_00]: Yet somehow, he calls, you know, a massive the Rhino, and he's supposed to be the true Republican who wants big government. [SPEAKER_00]: And any Republicans who want smaller government, well, they're supposedly the rhinos.

[SPEAKER_00]: now he also lied about prices right he claimed how all the prices are so much lower then when he took office now you know he likes to talk about eggs which had got way up I mean the egg prices went way up so then they came down and there are some prices that are lower now than they were when he took office but that's just cherry picking and I have no idea what what cherries cost they they probably went up but

[SPEAKER_00]: If you go grocery shopping, even if some of the items in your cart are cheaper than they were a year ago, more items are more expensive. [SPEAKER_00]: And when you go and check out, you're paying more money for food now. [SPEAKER_00]: then you were a year ago. [SPEAKER_00]: It doesn't matter that some of the items are cheaper when on average the price is what up.

[SPEAKER_00]: And so the president is not being honest when he's trying to claim that everything is cheaper now that he's president, they're not. [SPEAKER_00]: And then he said, he said this. [SPEAKER_00]: He said, no one can believe how good the numbers are on falling prices. [SPEAKER_00]: Yeah, you know why no one could believe it because it's not true, right? [SPEAKER_00]: That is obviously it makes sense. [SPEAKER_00]: He says no one could believe our numbers on how much prices are falling.

[SPEAKER_00]: Exactly. [SPEAKER_00]: Why would somebody believe fake numbers, right? [SPEAKER_00]: Anybody who's buying stuff knows that prices are going up. [SPEAKER_00]: So why should we believe? [SPEAKER_00]: these numbers right and that's why no one can believe them right now. [SPEAKER_00]: He thinks always because they're so great. [SPEAKER_00]: No, I'm gonna believe how great they are. [SPEAKER_00]: No, we don't believe it because it's not true, right?

[SPEAKER_00]: Then he talked about how the Affordable Care Act, he called it the Unifordable Care Act, which is true. [SPEAKER_00]: I agree with him in criticizing the Affordable Care Act. [SPEAKER_00]: But he said his plan is for the government to give money directly to the people so they can buy a health insurance. [SPEAKER_00]: How about just leaving the money with the people in the first place? [SPEAKER_00]: Let them do what they want.

[SPEAKER_00]: Let them buy or not buy health insurance in the free market. [SPEAKER_00]: I don't want the government redistributing wealth. [SPEAKER_00]: I don't want the government taking money from some people and then giving it to people to buy health insurance. [SPEAKER_00]: Leave the money in the private sector in the first place. [SPEAKER_00]: Don't take money from my right pocket and then hand it and then try to slip it back into my left pocket. [SPEAKER_00]: Just leave it alone.

[SPEAKER_00]: Leave it where it is. [SPEAKER_00]: Get the government out of health care. [SPEAKER_00]: The problem is, Trump doesn't wanna do that. [SPEAKER_00]: That's why we've never repealed. [SPEAKER_00]: The Affordable Care Act because the government Republicans, including Trump, don't have the guts to do it. [SPEAKER_00]: They don't want to take away the free lunch, even though the free lunch is very expensive.

[SPEAKER_00]: Now he bragged about bringing drug prices down with Trump, R.X. [SPEAKER_00]: And again, just like the Trump accounts, he's like, I had nothing to do with that name. [SPEAKER_00]: I don't know why. [SPEAKER_00]: Why is called Trump R.X., you know, somebody decided to name it that, you know, but had nothing to do with me. [SPEAKER_00]: But he's bragging about about how the government is now working with industry and and and and lowering drug prices look.

[SPEAKER_00]: I'm for lower prices. [SPEAKER_00]: We should get them by deregulating the drug industry. [SPEAKER_00]: Now, yes, I mentioned on my last podcast. [SPEAKER_00]: A good thing that Trump did and I'm not going to repeat the whole thing. [SPEAKER_00]: Go listen to my last podcast. [SPEAKER_00]: I talked about about it there. [SPEAKER_00]: The FDA relaxing their requirements on efficacy from requiring two studies to just one. [SPEAKER_00]: That is a step in the right direction.

[SPEAKER_00]: But how about no studies? [SPEAKER_00]: How about going back to 1962, wherever it was? [SPEAKER_00]: where you didn't have to prove efficacy at all. [SPEAKER_00]: You only had to prove that the drugs didn't harm you. [SPEAKER_00]: Or go back even earlier where you didn't even have to prove that.

[SPEAKER_00]: And as I said, initially after we started the FDA, which we didn't even have until the 20th century, but when they initially started the FDA, [SPEAKER_00]: The FDA was authorized to take drugs off the market that it found to be unhealthy.

[SPEAKER_00]: Meaning you can put whatever drugs you wanted on the market. [SPEAKER_00]: You didn't have to prove it didn't hurt you. [SPEAKER_00]: You didn't have to prove it worked. [SPEAKER_00]: You could sell whatever you wanted because it was a free country. [SPEAKER_00]: And people were free to try whatever they wanted. [SPEAKER_00]: Now that doesn't mean you could commit fraud. [SPEAKER_00]: You can't lie about the drug.

[SPEAKER_00]: But if you think it works and you want to sell it, [SPEAKER_00]: You know, you could sell it. [SPEAKER_00]: The FDA was able to take drugs, study them. [SPEAKER_00]: And if there's any drugs that they found harmful, they can order them off the market. [SPEAKER_00]: Let's go back to that. [SPEAKER_00]: Let's go back to a free country where we have a lot of drugs that are inexpensive. [SPEAKER_00]: because it's a lot cheaper to develop them.

[SPEAKER_00]: You don't have to pay for all these studies. [SPEAKER_00]: Let's let doctors and patients decide what drugs they want. [SPEAKER_00]: Let's not outsource that to the government. [SPEAKER_00]: Because when you do that, you really run up the costs. [SPEAKER_00]: That's why prescription drugs are so expensive. [SPEAKER_00]: It's the government that is responsible for the high cost. [SPEAKER_00]: The government is not the solution.

[SPEAKER_00]: to high drug prices, the government is the reason drug prices are high. [SPEAKER_00]: So let's get out of the government. [SPEAKER_00]: And by the way, one of the podcasts, I forget I had a lot of good stuff on my podcast about President's day. [SPEAKER_00]: But for some reason that podcast, [SPEAKER_00]: You know, you know, it's not present today's Washington's birthday didn't get a lot of views.

[SPEAKER_00]: Maybe because people thought, oh, the title, it's all politics, I don't want to. [SPEAKER_00]: I got into a lot of stuff that the Washington's birthday stuff is just the first, you know, 12 13 minutes, which is also worth listening to if you don't know your history. [SPEAKER_00]: But there's a lot of great stuff in that podcast and I feel bad that a lot of it got missed.

[SPEAKER_00]: So if you didn't watch that one because the title turned you off or whatever, go back and listen to it because there's a lot of good stuff on there. [SPEAKER_00]: Trump also talked about this rate payer protection pledge. [SPEAKER_00]: He's getting tech companies apparently to agree [SPEAKER_00]: to build their own power plants and not to buy power off the grid because that's going to our run up prices look.

[SPEAKER_00]: I'm fine if we can make the permitting process less onerous so that we can build more power plants. [SPEAKER_00]: Yeah, let's make it easier for companies to build power plants. [SPEAKER_00]: But the US government should not be doing this. [SPEAKER_00]: This is not a constitutional function trying to harass or intimidate companies into building a power plant. [SPEAKER_00]: They have every right to buy power. [SPEAKER_00]: That's the free market.

[SPEAKER_00]: The consumer doesn't have a right not to have to compete with a business. [SPEAKER_00]: I mean, we want free market to operate market forces. [SPEAKER_00]: We want efficient allocation of resources. [SPEAKER_00]: all this is socialist type policies that backfire and don't work and it doesn't matter if it's Donald Trump or AOC or Bernie Sanders who is promoting it.

[SPEAKER_00]: Socialism is socialism, whether it's Republican or Democratic, it doesn't work and if you support socialist policies when they're [SPEAKER_00]: advocated by a Republican, then you can't oppose them when they're advocated by a Democrat on the basis that it's socialism. [SPEAKER_00]: Because once you've accepted that socialism is good, how do you criticize it? [SPEAKER_00]: Again, I mentioned earlier in the podcast, I hate liars. [SPEAKER_00]: I also hate hypocrites.

[SPEAKER_00]: And so what I hate the most is hypocritical liars. [SPEAKER_00]: So when you're both at once, [SPEAKER_00]: which is what Trump becomes when he is against Bernie Sanders or AOC or mandamis because they're supposedly socialist and then he proposes socialist programs himself and brags about them. [SPEAKER_00]: He's not only lying, but he is guilty of hypocrisy as well.

[SPEAKER_00]: Now, he also bragged about his executive order banning Wall Street companies from buying single-family homes, and he wants that to be made like permanent by Congress. [SPEAKER_00]: He said that homes are for people not for corporations. [SPEAKER_00]: What the hell is he talking about? [SPEAKER_00]: I mean, first of all, corporations are just a collection of people.

[SPEAKER_00]: but if the people who form a corporation want to buy houses, let them buy houses, I mean, what are they doing with the houses? [SPEAKER_00]: They're renting them out. [SPEAKER_00]: I mean, so they're adding to their rental stock. [SPEAKER_00]: A lot of people can't afford to buy a single family home. [SPEAKER_00]: Not just because they're expensive, and now they're overpriced, but there's a lot of maintenance involved in a single family home.

[SPEAKER_00]: What if you can't afford that? [SPEAKER_00]: I mean, the fact that there are single family homes that you can rent [SPEAKER_00]: That that that that that that serves a niche. [SPEAKER_00]: There are a lot of people who want to live in a single family home, but either can't afford to buy one or don't want to spend the money on buying one, but they'd like to read one. [SPEAKER_00]: And you know, sometimes to some people that live in a city, they got lousy schools in the city.

[SPEAKER_00]: And they'd have to go to private school. [SPEAKER_00]: So one of the ways to get around having to put your kids in private school is [SPEAKER_00]: to a house and so maybe you rent a house instead of paying tuition at a private school because when you rent the house you get the school for free the landlord is covering the cost when he pays the property tax.

[SPEAKER_00]: Now yes that's kind of embedded in your rent right the landlord has to charge enough rent to not to make a return which would include covering the property tax as he has to pay. [SPEAKER_00]: But, you know, if you if you ban these companies from buying up these single family homes, people are going to have a harder time renting renting renting homes.

[SPEAKER_00]: But again, this is all social is policy trying to use the power of government to stop free market voluntary transactions, what if I own the home and the person [SPEAKER_00]: or the buyer who's willing to pay me the most money is a big corporation. [SPEAKER_00]: You're telling me I can't accept that deal, I can't, you know, first of all, he starts off by saying how much he cares about the homeowner so that they can have a high price for their house, right?

[SPEAKER_00]: Well, if I want to sell my house and the government says, well, you can't sell it to these corporations, [SPEAKER_00]: You're limiting the potential buyers. [SPEAKER_00]: I'm going to get a lower price for my house if I can't sell it to the highest bidder if you're going to eliminate those. [SPEAKER_00]: So he's talking on both sides of his mouth. [SPEAKER_00]: Yeah, then he talked, I wrote, I skipped this out of order.

[SPEAKER_00]: But he said, yeah, he's always going to protect those security. [SPEAKER_00]: He's always going to protect Medicaid. [SPEAKER_00]: He's always going to protect Medicare. [SPEAKER_00]: Yeah, that's the problem. [SPEAKER_00]: I don't want to present it to protect those programs. [SPEAKER_00]: We need to cut those programs.

[SPEAKER_00]: Now, [SPEAKER_00]: What I would like to protect is the people who, unfortunately, really depend on those programs, but for those programs, they'd be starving or they'd be out on the street. [SPEAKER_00]: But the only way that you can protect the people who, unfortunately, now depend on the government provided crutch. [SPEAKER_00]: is by means testing the programs making meaningful changes to these programs that mean paying fewer benefits lower benefits.

[SPEAKER_00]: to fewer people. [SPEAKER_00]: That's what has to happen. [SPEAKER_00]: If you're going to pledge, never to touch these programs, then you've doomed everybody. [SPEAKER_00]: Even the people who really need the programs are going to get wiped out. [SPEAKER_00]: Yes, you're committed to giving them money, but what you're not committed to doing is giving them purchasing power. [SPEAKER_00]: Yes, everybody's going to get a Social Security check, but the checks are going to bounce.

[SPEAKER_00]: Not, not that, you know, bouncing the sense that you can't cash them, bouncing the sense that when you go to the store, you're not going to be able to buy much because it could be nothing there because the prices are going to be too high. [SPEAKER_00]: Then another lie Trump told was about balancing the budget. [SPEAKER_00]: He said that we could balance the entire budget, which is now two and a half trillion a year deficit.

[SPEAKER_00]: He said if we could just get rid of the fraud, we would balance the budget. [SPEAKER_00]: I mean, well, as not even close, there's not two trillion dollars a year of fraud in the budget. [SPEAKER_00]: Yeah, there's a lot of fraud, believe, but not that much. [SPEAKER_00]: I'm sure there's several hundred billion. [SPEAKER_00]: Yeah, we can make a decent dent.

[SPEAKER_00]: in the deficit if we could eliminate all of fraud, but we can't, I mean, Elon Musk tried to eliminate some of it and they ran him out of town. [SPEAKER_00]: But even if we tried to get rid of all the fraud, we couldn't do it. [SPEAKER_00]: We can get rid of a lot of it, I believe. [SPEAKER_00]: But we're not even doing that. [SPEAKER_00]: But the reason you can't get rid of all of it is because there's always gonna be fraud in government.

[SPEAKER_00]: That's the problem with government. [SPEAKER_00]: That's the nature of the beast. [SPEAKER_00]: That's why you want to keep government as small as possible, because you also keep fraud as small as possible. [SPEAKER_00]: But the more government you're going to have, the more fraud you're going to have, that's just a fact of life. [SPEAKER_00]: So you can never eliminate all the fraud. [SPEAKER_00]: But even if we could, [SPEAKER_00]: It would just make a small dent in the deficit.

[SPEAKER_00]: What we need is actual cuts to spending, not just getting rid of the fraud, which we can't really do, we got to get rid of the actual programs, we got to cut and he won't do that. [SPEAKER_00]: Then he said that the government shutdowns probably cost us 2% of our GDP. [SPEAKER_00]: 2% I mean, there's no, there's, look, [SPEAKER_00]: As far as I'm concerned, we're better off with the government shutdown.

[SPEAKER_00]: We should have stronger GDP growth when we don't have the government in our way. [SPEAKER_00]: So the government shutdowns, which he blames on Democrats, are not the reason that the economy is not growing at four or five percent. [SPEAKER_00]: Maybe the way we measure GDP, the government shutdowns are shaving 15 or 20 basis points off the GDP. [SPEAKER_00]: So one tenth of the amount that the president claims. [SPEAKER_00]: Anyway, that was the list of that I had made.

[SPEAKER_00]: But I want to end the podcast. [SPEAKER_00]: Just talk a little bit about what wasn't said. [SPEAKER_00]: That was the key. [SPEAKER_00]: I mean, there was really no talk about the out of control deficit spending that has gotten worse since they passed the big beautiful bill. [SPEAKER_00]: No talk about the weakness in the dollar, that's going to continue.

[SPEAKER_00]: No talk about the underlying weakness in the labor market, in the economy, in the fact that interest on the debt has spiraled out of control and that we're now paying more for interest on the debt than we are for Medicare or Medicaid, right? [SPEAKER_00]: The only program that's still bigger than interest on the debt for now is social security.

[SPEAKER_00]: But we are heading towards a fiscal cliff, heading for a currency crisis, a sovereign debt crisis, and all he talks about is how great everything is, how the state of the union is great, as we're nearing our 250th anniversary, and yes, I mean that is going to be a big number in July. [SPEAKER_00]: But we have some serious, serious economic problems that the president claims not only don't exist, but that the golden age of America has returned.

[SPEAKER_00]: And he mentioned that several times during the State of the Union. [SPEAKER_00]: It's here. [SPEAKER_00]: This is the golden age of America. [SPEAKER_00]: America is the greatest it's ever been, where they're richest we've ever been, we're doing the best, and our greatest days are ahead of us, and hopefully they are. [SPEAKER_00]: They're just not right ahead of us.

[SPEAKER_00]: Maybe they're ahead of us in the distant future somewhere, but they are not ahead of us during his term. [SPEAKER_00]: Not even close. [SPEAKER_00]: We're headed for some dark days. [SPEAKER_00]: We're headed for a real economic crisis. [SPEAKER_00]: on an order of magnitude and one of the worst parts about this horrible crisis is who it's going to be blamed on.

[SPEAKER_00]: It's going to be blamed 100% on Trump and all the Republicans every Republican who's stood in line and cheerled. [SPEAKER_00]: You're all going down. [SPEAKER_00]: You're all going to get blamed and you know what else gets blamed capitalism because the Republicans are associated with capitalism. [SPEAKER_00]: Even though there's a bunch of socialist and the Republican [SPEAKER_00]: Republican is the brand for socialism capitalism.

[SPEAKER_00]: And so when the Republicans tank the economy or tanks on the Republicans watch, it's capitalism that takes it on the chip.

[SPEAKER_00]: And then the Democrats get to say, not only did we tell you so, right? [SPEAKER_00]: Blame it on the Republicans, but now they get to blame it on capitalism, which they don't like anyway. [SPEAKER_00]: And it enables them to offer up their socialist solutions that will just make the problems caused by socialism disguised as capitalism, even worse. [SPEAKER_00]: But that's what we're headed.

[SPEAKER_00]: And I think the Democrats, as screwed up as that party is, are headed to big victories in the midterms later this year, and an even bigger victory in the presidential election. [SPEAKER_00]: So what do you got to do? [SPEAKER_00]: You got to load up on gold and silver. [SPEAKER_00]: Silver earlier today, got above 90 again. [SPEAKER_00]: We've pulled back where at 8950, [SPEAKER_00]: um gold is got about 5200 pullback late today, but it's still trading now at 5191.

[SPEAKER_00]: You got to buy gold in silver. [SPEAKER_00]: Go to shift gold. [SPEAKER_00]: Silver. [SPEAKER_00]: I don't I guess look at 90 bucks. [SPEAKER_00]: Could it fall back down to 80? [SPEAKER_00]: Yeah, I guess so, but who the hell those? [SPEAKER_00]: But goal that 5,200, you don't got much downside. [SPEAKER_00]: Again, 5,000 is the floor. [SPEAKER_00]: Maybe it goes 4900, a little bit below, but it may just be going up. [SPEAKER_00]: You know, look at the goal stocks.

[SPEAKER_00]: I made this prediction on my podcast a week or two ago. [SPEAKER_00]: I said that goal mining stocks, [SPEAKER_00]: The GDX and GDXJ will hit new highs before Golden Silver hit new highs. [SPEAKER_00]: And a lot of the Golden Silver stocks, particularly the Goldstocks, not the Silverstocks. [SPEAKER_00]: The Goldstocks a lot of the big names hit new 52 e-cies today.

[SPEAKER_00]: And gold is still $350 below its high, silver is 30 cents below its high, and many gold stocks have hit new highs. [SPEAKER_00]: The GDX and GDXJ have not quite hit new highs yet. [SPEAKER_00]: They probably will by the end of this week. [SPEAKER_00]: I think by the end of the week, those two indexes will have hit new highs for filling another one of my predictions. [SPEAKER_00]: But this is bullish for gold and silver.

[SPEAKER_00]: The fact that [SPEAKER_00]: The stocks have now made new highs ahead of golden silver is a leading indicator. [SPEAKER_00]: And the next time gold gets to 5500, it's going there and beyond. [SPEAKER_00]: But when it gets to 5500 again, the gold stocks are going to be a lot higher than they were when it hit 5500 the first time and silver even more so. [SPEAKER_00]: The silver stocks will substantially higher the next time for a set of 120 then it was the last time.

[SPEAKER_00]: So you still got an opportunity to load up on these mining stocks by going to, you know, my yourpact.com. [SPEAKER_00]: getting a separately managed account by my gold fund, uh, the your Pacific gold fund EPG IX, which is finally now over the last couple of days starting the outperform now the GDX and GDXJ. [SPEAKER_00]: Some of the smaller stocks that we own are now starting to outperform. [SPEAKER_00]: So load up, we've been waiting for this.

[SPEAKER_00]: Our whole portfolio was predicated on these junior minors, kicking in. [SPEAKER_00]: They didn't kick in last year, but I think they're gonna kick in this year. [SPEAKER_00]: So you have a great opportunity to buy the Golf one, EPG IX is the no load symbol. [SPEAKER_00]: And also, if you're just looking for some research, if you wanna buy some golden silver stocks on your own, you gotta check out our premium research at my newsletter.

[SPEAKER_00]: we have a free newsletter that you can sign up for at shift sovereign, but we also have strategic assets, which is very inexpensive, but we give you a lot of research and we come up with a lot of suggestions in the mining space.

[SPEAKER_00]: You got to get into these stocks and you got to get into the [SPEAKER_00]: uh, the best performing stock markets are outside the United States, and that trend is going to continue, not just, you know, in spite of Trump, but in some ways because of the policies that he's pursuing are actually undermining our markets. [SPEAKER_00]: And they're causing money to be withdrawn from you. [SPEAKER_00]: He keeps talking about all the money that's coming into America.

[SPEAKER_00]: Well, if you look at the global stock markets, the money's leaving. [SPEAKER_00]: People are pulling money out of the US to invest in a broad. [SPEAKER_00]: That trend is going to continue and it's going to accelerate. [SPEAKER_00]: So you want to load up on these foreign stocks. [SPEAKER_00]: So again, look at all of my mutual funds. [SPEAKER_00]: at my website at europeac.com, my global value fund, my my emergency market fund, my dividend pairs fund.

[SPEAKER_00]: I think these are going to be delivering phenomenal returns over the next several years, especially as the US dollar really begins to decline. [SPEAKER_00]: And I think that's going to be happening for the balance of this year.

[SPEAKER_00]: Anyway, I'm going to do another [SPEAKER_00]: podcast this time on Friday again, another shift goal Friday market rap and so if I'm right about the gold and silver stocks, the GDX and GDXJ hitting new highs, new record highs, at least not well not the GDXJ, it'd be a new multi year high. [SPEAKER_00]: You know, since 2011, but on the GDX, it could be a record high. [SPEAKER_00]: But if that happens, I will wrap that up on Friday.

[SPEAKER_00]: So make sure you're also a subscriber to the shift gold YouTube channel. [SPEAKER_00]: So you get an alert when I'm going to do the shift gold Friday market wrap. [SPEAKER_00]: Bye for now.