All right, so here's some fun news. Google lost seventy billion dollars in value because of the Google Gemini. What they want to pretend it's an artificial intelligence. It's not an intelligence, it's code. It's not even good code. Oh I'm sure the code's good, but the people behind it are in fact spiritually captured. So of course that means their stock is going to tank.
Obviously, we'll talk to Zach Abraham about that. Plus, what does it mean if you're you're an executive former executive for an airplane manufacturer and you literally refuse to fly on one of your company's planes because you don't want to die, that would mean the stock of bolling Wood just plummet, right, Well, maybe not, but we'll ask Zach Abram about that as well. And then there's a discussion of the FEDS like cutting rates are near, but
it's truly the case. Is it actually going to be near to cutting rates? Time? All of this now with Zach Abraham, Chief Investment Officer Capital Management will get started. Now with the help of Alan SOPs allansaps dot Com, slash Todd, and of course with God Almighty himself, and with the help of a device called a stream deck. Super fancy thing because I get to do this. That's see, the Todd Herman Show is one hundred percent
disapproved by big pharma technocrats and tyrants everywhere. Now from the high mountains of Free America, here's the Emerald City exile Todd Herman. Today is a day the Lord has made in These are the times to which God is the saded we shall live. My friend and brother, Zach Abraham, joins me from across the country. Not quite because I'm in Idaho. He's in a separate country called Washington. Zach, welcome back to the program from from deep behind
enemy lines. Yes, it's great to connect. I can hear a din of freedom in your voice. You remember what that's like. Yeah, I remember. I've got a vague recollection. Yes, yeah, Well it's it's nice to be semi free. I have to ask you, man, this this is Google good to survive this seventy billion dollar collapse in their stock. I mean the layoffs. It's a blood bath at Google. It's like one
in seven employees gone. The stock just cratering because they lost seventy billion dollars in advice is not going to go back up, right, so they lose the value seventy billion down. It's it's a blood bath. Now the EFTs they're going to stop our ETF's going to stop automatically buying Google, and they're going to realize how risky this is. Right. No, Now, what I do think is and we actually owned Google, it's not a huge position for us, but like it's it's held with extreme prejudice. Let me just
put it that way. It's it's one of those things that I don't you know, I'm not a huge fan of clients. Go, I don't want to support the company. You're not supporting the company. You bought that you bought that stock from another shareholder. Okay, whether we own the stock or not doesn't have a benefits the company or not. But but uh yeah, yeah, I'm not a huge fan. But but what I do think is hilarious about all this is how long do these schmucks just keep shooting themselves in
the foot? You know what I mean? Like, how did you think that was going to go? Right? It's like the whole bud like Dylan move anything. How did you think that was going to play out? It's just dumb, you know what I mean? Like the other thing, if if I want to see a picture of a pope, you can't show me a white man as a pope. Did you did you hear that part? No, I know, George Washington, no one could be white. This was a code decision. We're going to have equity in all things. So
George Washington's now black. And people in bubble societies simply don't get this. Like I'll give you. This is a CrossFit example. It is not unusual in CrossFit to talk about and forgive the language, but we talk about glutes, we talk about butts, and it's right. It's not unusual to see guys and sometimes the first time I had to do this, I thought,
I can't believe I'm doing this. To take a massage device and your massaging inside your leg or you know, that's not unusual in a CrossFit community, right, you go do that? Go do that in polite society, like walk into a bar, start massage in the inside of your leg. You're gone. It's bubble thought. And this is so indicative of Silicon Valley that they they cannot smell their own stink. No, my favorite story worry of this, ever, this is my favorite Silicon Valley story is I went to
Oh gosh, I want to say it was IVP. You think i'd remember since my favorite story. One of the big funds. You know, they had a couple billion dollars in their management, and we did a presentation. They asked us to stay for lunch. They wanted to talk some more about investing. And I go out in the sun deck and Zach, they have live lobsters. So they're pulling the lobsters out of the tank. They're you know, cooking them for you. And this is unshareholder money, obviously very
profitable. So we eat, we'd go to, you know, have our conversation. That night, I went out to dinner at a company that never turned a profit Salon dot com. After I went to their office and guess what they were doing. They were pulling live lobsters out of tanks and they were serving them. They'd never turned a profit. I go to dinner with the CEO, nice guy, and he says to me after I come back from the bathroom makers, oh, by the way, I'm buying a helicopter.
Sure no one down there. So this is irresponsible, not a soul, and that's the bubble thing. So Google puts this product out and did you see the one about misgendering Caitlyn Jenner? No? No, I no, no, but I'm all ears. Okay, So someone asked the Google fake AI fake intelligence, should I misgender Caitlyn Jenner, who's actually Bruce Jenner, but he calls himself Kaitlyn. Now, should I missgender Caitlyn Jenner if it would prevent a nuclear holocaust? And the Google gem and I said,
that's a very complicated question. There's no right or wrong answer, and then ultimately it said no, you should not miss gender Caitlyn Jenner, even if it would prevent a nuclear holocaust. I know, I man, I mean talk about losing the narrative, you know, I you don't even know what to say at this point because you I mean, like I would like to look at them and just go, hey, guys, what what good is a piece of software if it doesn't even tell you what really happened? Right?
Like? How? What where do you know? You've gone to our where and you can't so yeah, or just ask a different question. So what you're telling me is you should kill Caitlyn Jenner before you miss gender Caitlyn Jenner, because in a nucleo holocaust. We're all going to die, so you should kill every person who has bought the transgender lie instead of misgendering one transgender person. They can't even get that far ahead, and there thinking, I know it's a cliche, but tell me this is not a religion.
Tell me this is not back, you know, backing into being accidental Satanists. It's it's so, you know, and I'm not the first person to say this, You've said it many times too, but I think it's the only way that you can categorize what that line of thinking is because much like you know, and even to call it a religion, I think is a
bit of a nock to religion. Meaning if you look at the world's biggest religions, even the ones that you don't agree with, there are historically accurate aspects of them that are verifiable through several different cultures and several different historic records, so we can cross verify there's reality there at least right to some of them, you know, to to the major religions, you know, for instance, it is a it is a it is a historically verifiable fact that
you know, Abraham was the was the father of of of the Jewish people, and that his offspring ended up being the father of the Islamic Uh, you know the Islamic religion, right, we can cross reference that in several different historical facts. This religion is just a really I mean, I mean it literally, I mean you might as well be a wicked right or like that worships trees or something like that, just because there's no there's no but there are trees, you see. But there are trees, so you okay,
so you could worship treate. There are no people born in the wrong body. There was no black George Washington. There is no world we're calling a man. A man is is worse than a nuclear holocaust. Now you've made me uncomfortable. You made oh man, I'm sorry, we'll call Here's the other thing. When when did spelling or excuse me, selling and pushing and propagating false information? When did that become compassionate? Right? What like?
Make you ignorant and uneducated? And it reminds me so much of hey, I know, or how we're going to fix black education. We're going to lower the standards because the poor black kids just starn't smart enough. And you go right, right, like you're just you're pulling your hair out because you're literally doing the opposite of what you're saying. You're trying to do.
The state of Oregon has now decided you no longer need to be able to read or read, write, or do arithmetic to graduate high school because because you know what, that harms the blacks, because the blacks they can't learn to read and write. Right, that's that's that's what they said. I've heard that before. Look, I've heard that before. Right, we're trying to think of all the time. Hey, that was so you want to go back to Jim Crow academics. That's it. That's where I heard that
was. Why would I give them books they can't learn to read? So Zach, speaking of stocks and speaking of morality, what does it say about the morality of Boeing bosses when one of their own executives, and this made it into politico, one of their own executives will not fly on a seven thirty seven Max. In fact, having found out that he was getting onto an airplane that was a seven thirty seven Max, he said, Hey, I'm not trying to just cause a scene. I just want off this airplane.
This is a Max, I'm out, what does this say about the morality? First of all, that man willing to speak out saying these things are death traps, and the morality of bullling bosses who are saying, Noah All's fine, And what does it say financially about their stock that, as far as I can tell, it hasn't taken a big hit. Even with this, I would say it is completely consistent with what we see out of
Congress. The quote unquote leaders of this country on a day to day basis right, that no one's going to be held accountable that rules for me, not for your rules for thee and not for me. Right, it's the same thing. What is morality anymore? Right in this vacuum, morality is committing yourself to never telling a young person they're headed in a wrong direction.
Right, that's morality. Right. The morality is now to underwrite any lascivious or harmful behavior that anybody makes, because the only thing that is immoral is correcting somebody and trying to save them for from the you know, the the the the consequences that are guaranteed to come from their actions. Right, It's
all consistent. And this is why I was saying when when you know, I was having a conversation with the client earlier, and they're like, you know, or you know, how do we you know, how do we take more advantage of what's going on? Or you know, why isn't it? And I go, wait a second, you're wondering why it isn't You're wondering why this isn't working the way it's supposed to. And when I said to him, I go, does society make a lot of sense to you
right now? And he goes no, And I goes, so, why do you Why would you not extrapolate that over to the market, right? Why would you assume that that's just running the way it's right? Because there's interchange. The same people that are making these decisions that are pulling our hair out are the same. It's the same type of thinking that runs these investment bank houses, right, that runs the Federal Reserve, the SEC. I mean, it's just look, it is what it is, and it's just
nonsensical. Why doesn't Boeing stock I mean, yeah, it's it's rallying on a red tape today. This this this article. I've seen it at big, big sites. It's it's all over the place, and it's being pushed through social media and this, this, and it doesn't affect the stock. Okay, what happens, and I don't want this to happen. I pray to god it doesn't happen because they never want to see loss of human life like this. How many airplanes does it take? And honestly, in your
opinion, it was like two in a week. Look, here's the crazy. And I've said this before, but here's the real mind bending part of this, and it's I And again I don't say it because I'm so smart. There's plenty of people that are smarter than I am, tons of them. So, but the real shocking part of all this is little old me was able to go talk to seven people at Boeing and tell you, in nineteen twenty nineteen, before any of this stuff happened, hey we got a
problem here. These are going to keep doing this? Okay because there and you watch it happen, and then everybody's like, who would have known? And you're sitting there if you would have looked and wait, and then they oh, Boeing's fine, and then they quote the CEO and I'm sitting there going of course that's what he's gonna say. Go one step deeper, go talk to people on the How was it that I knew that all of this stuff was going on and I was saying, get ready, more planes are
going to go down. How did we know? Because we asked, we've paid attention. Oh my gosh. One of the tragic days of my life in tech, truly truly tragic. Is we put together a team. Now think you want to think about how cool this would have end's actus was probably seven years ago, maybe even eight, No, it was like eight years ago. We had a deal to take Windows PCs on an Ultra skew, like a really high end skew, so you know, a highest she'd pay
for Windows. You know what we had is we had it worked out that we would sell you a computer that had cable TV inside of it, so for real, I was ahead of its okay, so you could travel and take your PC with you and it would be trickle downloading shows. So you could actually go and pretty much get the TV show of your choice from your PC, some of them subscription, some of them with ads. We had that deal with the Windows Unit business unit to get that done, to ship
a computer like that that was effectively a cable box. We'd worked out all the economics. Now think about how big that would have been. An executive and I was out there building up the AD support for this. I had put together initially fifty million and then one hundred million dollars in AD support for this. One executive at Microsoft decided that people weren't going to watch video on computers if there were ads. One dude. So the whole thing got scuttled.
And I was on the call when he scuttled it, and he asked me to be on a team for another product. Was this the same guy that came up with the zoom It became zoon? Oh you called it? It became zoon. This guy's a home run hitter man. It became zoon because he was told to go create the iPod killer. Oh. So he asked me to stay on the team. I said no. I In fact, I told him on the call. He was a very senior guy.
I said, I need you to be the one to call these ad agencies and Sprint and Folger's Coffee and GM's cmos and tell them this deal is off. I need you to do that. Oh well, no, that's not my job, and I said no, no, no, no, no, I'm not telling him, like I'll go in the call with you, but I am not telling him because I cannot defend this. And to his credit, he did that. So, Zach, here's this day. Now, imagine this day the Zoo product is created. I'm sitting in my office
in this wonderful dear guy with this beautiful Indian accent. I really do love the Indian accent. I find it very sing songy and very and he came into my office and he walks and knocks in the door. Oh naish come in, Yes, yes, yes, I want to present you something different. Moment said yes, and it's just then goes okay, hands me a box. This is openness. This is the news Zoom. So he sets
it in front of me and it's heavy, it's substantial. I opened the box, Zach, and I take the top off and I look at him. I go it's brown, yes, yes, yes, yes, no, it's brown. To pick it up. It's very substantial. That's real glass. It's it's brown. No, but yes, yes it's brown. What are their colors are there? Oh no, there's no other colors. They're all brown. Yes, yes, yes, they're all brown. This is our differentiator. I go, nish, people don't buy brown electronics.
Do have data on this? White or black on this? I'll go yes, I do. Where is this data? It's called the Apple Store. The one color they don't have is brown. This is why we chose brown. Oh. So I picked the device up and yeah, it's this substantial device and there's a video screen. Guess what it didn't play videos Boom Winter Winter Chicken Dinner. I was at one of the many, many launch parties for this, and it turned and it was there was an employee discount for
the zoon. You got like fifty percent off the new zoon that within six months they had Employee of the Month events that three people show up to remember the employee of the month eventuals up. Everybody who comes gets a free zoon. Taking zoons to ad agencies and handing them out yet advertise just going no, I got like ten zones. See what I'm talking about here is bubble thoughts. It's this and this, but those weren't. Those weren't taking people's
lives, right The airplanes are taking people's lives right. Well, I look, it's you know it shouldn't be if you read your Bible, not only anything. This should surprise you. No, right, because what you've done is morality. I think the only real, durable form of reality in this culture right now is money. Okay, boom, you read my mind. Proverbs Chapter twenty three, verse four through five, Versus four through five. I don't know what I started. You do the verse thing? Thats all
of a sudden, I'm speaking in terrible grammar. If Nano will bring that up there it is. Do not wear yourself out to get rich. Do not trust your own cleverness. Cast but a glance at riches and they're gone, for they will surely sprout wings and fly off to the sky like an eagle. Exactly all right, give me Zach's tweet image here. So I went through this is you want to see lazy show prep? Zach is I
and I went mining your Twitter account, so Jess Felder writes. To get a seven hundred and forty dollars share price simply requires Navidia to maintain a monopolistic like operating profit margin at fifty five percent for the next decade, while also growing sales ten times more to more than sixty six hundred billion. For context, the entire industry sold five hundred and seventy two billion worth of ships last
year. Zachi wrote back, may must be the reason a ninety year old client called this yesterday and asked us to put half his money in Navidia and the other half split between Meta and Microsoft. So break that down for us.
I mean, that's that's this guy's saying that couple is valued higher than the industry's revenue, right, Yeah, And this is what's so dangerous about in this period of time, Like, you know, we as we as Christians know that doing the right well, I think even that doctrine's gotten twisted.
Following Jesus Christ is no guarantee of anything. It's just not well, Following Jesus Christ is the guarantee of being redeemed, right, right, but I mean everything in terms of eternity, Yeah, it's everything, right, But what I'm saying is like it's no guarantee of riches, it's no guarantee of prosperity, it's no guarantee of anything like it's and it's really odd for me when I hear prosperity theology taught, because I sit there and I go
Wait a second, Jesus rode into town on a donkey man, right, you know you got pin to a tree, right, right, So why do we think that if we follow him everything is going to be great all the time, right right? It's just if he told us, he said, in this life you'll face troubles. Yeah, do not be surprised. You'll face troubles if you're if you're doing things the right way right like like not not not as a punishment, as a way. It is like we
live in a fallen world, but it's not. It's not seeking riches right this right, you manage people's wealth, right and Bulwark praise God pays you well because of what you do so well. But you're not You're not thirsty after wealth. Is what you're saying, No, no, man, And and it doesn't mean that you can't have We've had a lot of debates about this, even recently in my own house with my wife, and it's very I've been incredibly blessed, and you know, I think I've told my story
on your on on the show before. But it's one of those things where it's a whirlwind. You turn around and you look back and you just man, God, guided steps when I was blind, when I couldn't see, and I live at it. I'm an incredibly blessed human being. I get to do what I love with people I love and respect. But you know, the residual of that is the fact that I make a better living than
I ever would have anticipated. And my wife and I have talked a lot about how do we how do we still raise kids that that aren't entitled? How do we still raise kids that don't value that? Because the reality is, my children grow up in an invite and I grew up in a wonderful home, I great parents, Christian family, all that, but it's not the same as the home that my kids have grown up in. It's just not and it's certainly not the same that my wife grew up in. And
I think we as Christians need to understand. I think the delineation that you put out there is really important. It's not that those things are bad, it's the singular pursuit of those things, that those things being the focus of our pursuits that are bad. And then the other thing. And I was weird just we were talking about this last night around the dinner table, that when you are blessed. There's one reason for it, and there's only one.
It's because you're being trusted to give it back. It makes no other sense. Why would God give you something while little babies in Africa are dying because they don't have any food? Right, Because, well, it's because you went to church and you prayed and you taught no that if you're blessed, it's not saying anything special about you other than the world happens to value your contribution more than others, and the world is screwed up too, So
even that's probably not accurate. Right, But the only thing it means, the only concrete thing it means, is you are obligated to take care of others and give it back, and that God's trusting you with it. And that's it. And I think we need to be dead careful about it as Christians. Then we don't start assigning value to it. We don't sit there and go if we're following God, why haven't I made more money? Why
am I not rich? If he's a perfect father. Maybe it's because he knows that if he gives you that, you're going to flip out and blow up your family. Right like right, and people need to understand this as well. This is more scripture first Timothy, chapter six, verses nine through eleven, and it goes right to what you're saying, Zach. Those who want to get rich fall into temptation and a trap, into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money
is a root of all kinds of evil. Some people eager for money have wandered from the faith and pierced themselves with many griefs. And here is Paul writing to Timothy, you, man of God, flee from all of this and pursue righteousness, godliness, faith, love, endurance, and gentleness. So like inspired by what you're saying, is I when I blew up this first shoulder, my left one, and I it occurred to me that hey, I was asking God why why I was finally getting back in shape and
finally getting back into competitive shape. Why? And God said, if I give you the opportunity to start over, will you put me at the center. And I said, well, aren't you at the center? He goes, I'm not even present in the gym when you're there. And it wasn't like I was being ungodly. But you know what I wasn't doing. I wasn't letting God show his face through me. I wasn't being part of the community. I wasn't witnessing to people. I talked to one or two people
period. And I brought this up with my coach that I'm not certain God wants me to continue this. And she was really sad for me because she knows I love this sport. She said, why would God take away something from you that makes you happy? And I said, because God doesn't promise to make us happy, He desires to make us holy, So put it on the altar, right, So put it on the altar. Put it on the altar and see what he has to say. So I did, and I prayed, and I went and I talked to my pastor. And
here's what my pastor said. This is so smart, he said, Todd, I don't think God cares where you are unless it's like a strip club or something. I think he cares who you are while you're there. So I went back, had caught and talked with coach. I want God to be at the center of this, she said, me too. And since then God's blessed me with countless friends from that environment and truly being blessed by other godly people in that environment. And I was obsessing over fitness when I
should be over there experiencing community. Right, yeah, no, And it reminds me we were actually having this conversation. For those of you that don't know, when I set out to start a firm, I had a very very distinct idea of the people I was going to hire. God had completely different ideas, and which why we jokingly refer to God. Not jokingly, that's why we refer to God as our CEO, just because He's literally hired every one of our employees. And the result of that is that three of
our advisors on staff are or dained ministers. And I never like I look, Jesus Christ is the center of my life. But I'm a guys guy. I like shooting guns, I like riding, but I like, uh, I have to watch my mouth. I'm a football player, I'm intense. Cursing is a hard thing for me to keep control of. I'm not right, I'm by grace, I say, guy, I'm a you know, but but I'm a guys guy through and through. And one of the things we were talking about with a couple of my my employees this morning.
We have this conversation all the time. It reminds reminds me of that it's a little bit different than we were talking about. It reminds me that burst where David talks about I love your discipline, I love your correction, and I remember as a kid reading that, or even as a younger adult and going, what do you mean by that? Right? And what I've learned is, man, I'm gonna do. I don't know why I get emotional when I say this, but the no's have been just as big a blessings,
if not bigger blessings than the yeses. Looking back on it, Amen, I am so glad that God prevented me from selling a company for a billion bucks at because there was a time we could have sold out our internet radio company and not for a billion or anywhere near that. But we had an offer and my board said no. And it would have meant for me, at the age of twenty eight, about fifty million dollars. See you
right, I would not see it. I would not be sitting here as a discipled man because I would have taken you know, at least fifteen of that popped in into a VC fund. Now I'm a limited partner. Now, baby, let's go roll. How much can we do? And then I've been doing seed funding on the other side, it would have been that fifty million is a down payment on the billion, and God knows what that would have done well, and literally God knows, And Zach has told his
testimony here before. Like Bullet Capital Management, was this outgrowth of watching firms destroy themselves by seeking wealth and painting over lipstick on the pig scenario, which is why Bulwark is focus on risk management. And right now, if this isn't convincing you spiritual risk, internal enemies, what we've just talked about with Boeing, what we just talked about with Navidia, If this isn't convincing you that you live in a risk based society and you need in my mind,
active proli management. I think it's a must. It can reduce risk and volatility. His company will send you a free copy of Zach's Common Sense Investing Guide. Just go to Know your Risk radio dot com. They'll send it to you. You can read it. It might be something you end up doing in your own but I just ask you to really pray about whether this is the time for on the job training. It may not be. You might want their help, but you can read the documentderstand what active management or
portfolio means. Know your risk Radio dot Com Capital Managements and investment Advisor Representative Truck Financial LLC, and SEC registered investment advisor and investments involve risk. Past performance is not necessarily indicative of future results. By the way, if you're watching the video service with see me looking at my phone. I'm not ignoring Zach. I'm actually looking right at him. I just can't look at my computer for this chart I want you to see because we're using the computer to
have Zach on. I know that seems odd. I went and went through your Twitter account and I found this chart from Geiger Capital, and he writes, when people say the economy is super strong, please understand we're running an historic deficit six point two percent of GDP, never seen before outside of World War Two, the GFC or COVID. If we weren't running the deficit and bounced the budget or even got close, GDP would collapse. And then this
is Zach's response, And I want you to unpack this for us. Here as mere civilians, Zach rot And said, agreed, Why I swallow hard every time someone's this strong economy, like marveling at the horsepower of a one point eight leader forbanger that's running jet fuel and nitrous fun while it lasts. So I guess you're saying the economy eventually has to blow up. Yeah, let me let me live. I want to throw one quick thing in there, really quick. I say this all the time just for people listening.
If you're thinking about calling us, don't call us because you think because we're Christians that we're going to generate better returns. That's the goal. But we can't guarantee that, right. What I what we can guarantee is that the people managing your money are going to watch it and take care of it like their own, and they're going to do it after humbling themselves before God at the beginning of every day and asking for guidance and wisdom. Outside of that,
about can we guarantee outcomes? Nope, God doesn't give stock tips. But like I said, we can guarantee the approach. So anyway, but back to that tweet, it's it's it's really funny to hear them make those comments. Right, it's a strong economy. Yeah, you're dumping over two trillion dollars into it. So it's so the it's I think the easiest way to think about it's like the analogy of a bathtub. Right, you got a hole in that baby, and it's spraying water all over the bathroom floor.
But they're like, hey, don't worry about it. Look at that faucet. That thing's a high flower. The level of it is. Look at that full bathtub, and you're like, dude, you keep this up any longer, I'm gonna have water coming through the light fixtures right right, And and everybody's oh, look at that thing. Go and again, it's just the analogy of the forebanger. You got a four cylinder one point leater
engine. You've juiced it up on nitrous and jet fuel. Yeah, but don't sit back and convince yourself it's a big block g V eight, Right, it's not. And as soon as that juice is gone, you're gonna go back to being a putter, right, Like, it's just you blow up the engine because the one point eight four burger Lader forebanger is not prepared for jet fuel and nitrous and it's going to run for man, you know
what that first minute that was a mind blower. That yeah, second ten seconds after the first minute, when the engine blew up and the piston hit me in the face. I wasn't a big fan of that portion of the ride. Well, and you bring up a great point. What is the sign that the engine has taxed too much? The smoking valves in this scenario, or inflation, that's what it is. Right, You are burning out the rings as we go. You're like, oh, the smoke where the
spit out. That smokes transitory. That smoke's transitory. It's gonna be gone a second, right, Yeah, You're like, no, no, no, no, it's gonna get worse because of what you're doing, right, And it's just it's it's everything cultural. It's just as insane as all the cultural stuff going on, because you're, oh, look at it's the strong economy, and you're like, how could it not be? And what I
actually think is alarming that I look at it from a different direction. I'm sitting there going you're running deficits like this and we still have all these problems right there. You're taking the wrong the wrong takeaway is from this meeting. So This is very much like this. It's like you have a big, big block V eight and your friend asked you about, how's the gas milage on that? Oh, it's fantastic, Well, how much do you get per mile? Well it's unlimited, right, right? What are you talking
about? It's unlimited? Yeah, it's unlimited. So they've got in. They look at your big truck and you're telling me you have unlimited gas manage on this yep, absolutely coming on ride with me. So they're riding the what's the thing behind us? Oh, that's a gas that's the that's the gas hose. What Yeah, no, I got a gas hose connected to it. So we keep on limited, right, so we just keep plugging it in. Okay, so you never have to stop and fill up.
No, what happens when the hose runs out? You won't? Oh but wait, what if you wrap around a tree? What if you oh wait, you're you're you're telling me that hose could break? That's no, yeah, but that's not what they say, right, They're like, what's the hose? Want? Right? What are you? What are you out of your runt of a hose? We'll just make more hoes. What happens in the round a rubber, We get right in a rubber. Yeah, you mean we can't make a hose at anything. This is a fool proof plan.
If you can't see it, you're an idiot. I grew up racing cars. I think you know this. You know. I started racing quarter measures when I was seven and and was racing open wheeled modifies against grown man when I was fourteen. Loved that. I got to tell you a racing story that just hit me out. And this is a total distraction, but it goes to the mindset really of race car drivers and nitrous. There was a dude, lovely guy named Bob Burns, and Bob I remember this from
memories, So if it's wrong, I mean sue me. Although I think you've passed on to the Lord. Bob was the first guy to get personal branding. He decided to become first fonsie as a race car driver. And then he was sort of a guy with a bad temper, as I recall. So he embraced the bad guy thing, total brilliant, the heel, the heel. Right, he embraced this, and and Bob did some interesting things, like some way out there things. But this is these are the
two greatest Bob Burns stories in history. He got in and he rolled his car open wheel modified rolled it, and so the emergency crew comes out and they're taking care of him, and he's screaming, get my helmet off, get my helmet off, and he's like pulling at his helmet trying to get it off, and the wisdom is this, no, no, don't take your helmet off, because then when we take your heart on us off, you're gonna drop on your head and give yourself a concussion. Get it off,
get off, try to pull it off. And finally they take the helmet off, and his cigar he'd been smoking had fallen up against his helmet and was burning a hole in his forehead. So they take it like Ricky Bobby put out flames, Oprah, So I'll have to trust you, and that I've not seen the movie. But so he had this big Hindu dot on his head and then they put that out, put his helmet back on
and take him out. I don't know how many years later, or even if it was a year later, Bob Burns smack the wall hard like Turn one, so it would be one two uh three coming out of Turn four, smack the wall straight on. Emergency crew comes out. They bring the sawdust to sweep up the engine fluids, and here's Bob grabbing at his neck like, okay, oh my gosh, he's got he's got whiplashing. Then
they take his humb off. He's going, yes, he didn't light it anymore, but he chewed on it, so they have to reach in give him the fingers of life down his throat. You're like, dude, what are you gonna learn? Just save the cigar from Victory Lane? Right right? Oh man, right, But that's but that's that's that's that's the mindset. One of the things we need to talk about is, at least financially, is what the FED is apparently contemplating doing. Well, we're talking about
branding. If you are watching the video service, which you can do by going to video dot to Todd Herman Show dot com, then why you can see you could have seen Zach visibly responding and laughing to all this. You can also go to Bonefrog Coffee dot com and you see this hat. And by the way, if you've never had to deal with looking at yourself in a monitor, it's impossible, it cannot be done. I cannot look in this monitor and adjust my hat the right way. This stuff is available in
addition to the coffee at Bonefrog Coffee dot com slash todd. You see the real leather here up on the hat. The merchandise at Bonefrog is top not show. If you have subscribed to the coffee, you got that done, then the thing you can do is help push the brand by wearing the merchandise, particularly if you're better looking than me, which would be all of you. So go to Bonefrog Cooffee dot com slash todd ten percent off your first
purchase. Wich should be the coffee. If you're not yet subscribing, that's the next step. And the third step, of course, is to rock the merch particularly if you're a good looking human. Bit Bonefrog Coffee dot com slash todd use promo code todd to get ten percent off fifteen percent off subscription coffee. So someone with the FED is apparently saying Zach that they are going to they're predicting that the FED is going to do rate cuts pretty close to
now. And then someone else, Jefferson, is saying it's predicting later this
year. You found both things. It seems laughable perhaps I laughable, but also scary, like okay, so one, yeah, because when you see a market behaving like this, you know, when you see megacap stocks going up the way that they have, and look, like we've talked about, there's there's a lot of incredible stuff going on in the world AI And I'm not saying it's all not like you know, don't take me the wrong way, but you know, we can look at the market every single day and
look at a market that's out of control, okay, just it's out of control. And if you go and you have inflation reaccelerating, all right, so underneath the hood, it was stupefying to hear Harker come out. I think his first name is John came out. He's on the FMC, the Federal Open Markets Committee, and saying that, yeah, we think we're at the point to start cutting rates. And you're sitting there going, wait a second, you got four to according to your state ordering your numbers, you're
looking at four to four and a half percent growth. Okay, so that puts you back in like nineteen ninety eight nineteen ninety nine style growth, right, you got accelerating inflation, you got market flirting with thirty times earnings and on you know, almost every metric, the most expensive market in US history, and you've got full on, you've got full employment. You know,
employment numbers supposedly that are levels we haven't seen in fifty years. And you're going to cut rates into this and if they do, it's it's going to be a real problem because if they do, inflation is going to pop right back up with it. Now, they may not report rising inflation, is it as it as it is defined by their numbers and their metrics, but look every time you see it. I mean, you can just go back and look at yourself. If it used to be, I mean, the
market used to front run growth. So you know, the market was you know, generally speaking, it's looking out into the future. But if you watch it, you'll watch nothing change in the economy, but the stock market will go up and then you'll start watching economic data get better. Right, It's a financialized economy, meaning that if financial prices are not rising, there's trouble. As long as financial prices keep rising, we're good. I've got
times out. We're back to the We're back to the endless gasos scenario, right, right, and so, and and and so. If they cut into this, it's going to get crazy and and and I think you could see the NASDAC double an ear because the last time they did this, you lived it, remember the height of the Oh gosh. The problem is people
remember, but they don't remember how it happens. Right, So long term capital blows up late ninety eight, Fed freaks out in panics, even though there's really no evidence that it's feeding back through the economy, and they do an emergency rate cut. And at that time, we were at five and a half percent fed funds, right, just like we are today. At that time, we're looking at four four and a half percent growth, just like we are supposedly today. We're looking at rising inflation, just like we
are today. And they cut rates into that, and then the Nasdaq went ballistic, okay, and then everything went with it, right, and there's this massive bubble. The crazy part is if you look at this market and compare it to ninety eight, it's way crazier already than it wasn't ninety eight, Right, it got crazy. I mean, it was overheated ninety eight, but it wasn't flirting with a thirty multiple on it right, thirty times earnings, You're already there. So if they cut into this, inflation's gonna
go up. I can't Todd, I really look at it. I hate trying to predict people's motive when I do not know them and I have not spoken to them. Yeah, you know, it's like the old ad,
don't chalk up to conspiracy. What can be explained through stupidity? Right, But if they do that, the only thing that can make any sense to me, for it would just be that they're trying to juice everything to get Biden and re elected, just because their play card would tell you, no, you can't cut rates in this environment, and they're going against their own
play card. I just it's it's really every institution in the world is committed to Trump not getting into office, except for Mega right, every institution in the world, because you're going to have a radicalized Donald Trump. Trump governed as a moderate. Find me the insane thing Trump did, other than letting Tony Fauci take over the country, which is the biggest mistake of his life costume his presidency. Find me the truly insane thing he did. He pressured
the He pressured the UN to straighten up. But we're going to take our money away. Wow. He went to NATO and said, yeah, you guys are going to start pooning up some more money for your own security because we're not going to pick up the bill. Wow. He started building the wall. Wow. He brought manufacturing home. He got away with Roe versus weight, getting you know, undone, although the federal government is still breaking
out law. Do you could say that's the most conservative thing Donald Trump arranged to the Supreme Court? Okay, well, but I think it's worse than that. I think it's why. I think it's even worse than that, because even if you believe, like, let's say they're right. Okay, just for the sake argument, let's say they're right, let's say Trump is nothing but bad news. Right. Do you really what happened at the end of his last term? It ended right, right? Remember when he wasn't
gonna leave. Oh yeah, the army was gonna have to go take him out. Well that was when he was planning the armed insurrection, right, so with with no arms. Well but they were they intended, right. But but you look at him and you go, here's the difference between you and me. Okay, you think you're in a position to determine what is right for the country. I look at and I think your actions of thinking that you can determine that more than the voters. I think that is a
far bigger danger president than anyone president. And and the fact that he isn't in office right now blows up your entire theory, right right, He's never gonna ring. Come on, man, he walked out. No. And that's what scares me, taught, is this whole belief that we're fighting a moral war. Because if we're fighting a moral war, I can justify breaking any any law, right. But we don't have anyway. This is the thing, this is the most cynical thing I'll tell you, is we don't
have laws agreed, not for everybody, right right exactly. And when they're not for everybody, there suggestions they're no longer laws. Well, and that's like this whole Trump lawsuit again, it's well, the three hundred and thirty five million dollars whatever, Oh, it's laugh he did. They're what they're accusing of. Every real estate investor in the world, doesn't. It's crazy.
I just founds through Twitter. I found this great. I'll send this to You may not have heard it or seen it, but I ran this piece earlier this week of an earlier TV report looked like in the in the eighties, when Trump bought mar Largo, they were talking about it being valued at one hundred and eighteen million dollars. Then so look at the real estate. It's insane. And then they were talking about the the no, no, it was a one hundred and eighteen, It had one hundred and eighteen
bedrooms, it had cash flow. And Trump gives this tour of this like each one of these tiles is from the fourteen hundreds. All of them is a unique piece of art. And the lady who was doing the port, I think it was the Shrier Kennedy lady saying, the governments used to own this as a second White House, but they wouldn't want to pay the million dollar per year you know, upkeep or whatever. And so Trump bought it.
And this was this this huge report that judged pretend that property is worth eighteen million dollars when there's homes around that half the size, with half the lot that aren't cash flow, properties that don't have one hundred and eighteen begs. And I don't even know what memberships are tomorrow logo every year. But it's a very very exclusive private club. I'm going to think it's probably upwards at fifty grand per year to be there. I I read somewhere that they're
generating like twenty million a year in membership does or something like that. That's the property, right, So the property that house is worth eighteen million, except that makes twenty million a year at least. Yeah, right, Well, and not only that, but if you know anything about where that real estate is, it's laughable if anybody could buy that. Like, if you put that up for sale for twenty billion, the bid or twenty million,
the bids in a matter of minutes would exceed one hundred million. It's just it's laughable. Like it's And again, you don't even have to be a Trump fan or defend Trump say that. It's just fact and watching what they're doing, it's just scary because if they can do it to him, they can do it to all of us, and the facts don't matter. That's exactly right. I've said this before, Zach, and I don't want to be labor it because I do say it from time to time. Satan takes
dry runs at things. The man of lawlessness will come because I told us that would happen. Why not get used to the lawless this now? Why not normalize this? Right? That's what I think we're seeing. Always a pleasure to have you on, my brother, and I beg you to go with God's good grace. Always thanks for having me and always fun. By the way, if you need a research guy, I fired a dude,
so I don't want him stealing my magnesia. No, I'm not letting the I'm not letting that fox in the hend House got it all right, Thank your brother. This is the Todd Urban Show. Please go, be well, be strong, be kind, and do make every effort to walk into the light of Christ, where the full armor of God, and give thanks in a daily basis for all that God's done for you, which is in fact everything,