TRUMP’S TARIFFS EXPLAINED: Impact on Your Wallet, Opportunities, Recession Warning & Market Crash

24:49When you see that happen, it's hard for the market to really gain its footing. Remember, those stocks are about 55 % of the SPY, about 55 % of the triple Q. So I mean, with that kind of concentration, those stocks under pressure, it's really hard for the market just to really find its footing. And you got to remember those stocks, they're not necessarily tariff sensitive, they're not necessarily inflation sensitive, but they are growth sensitive. Companies need to feel confident in their ability to grow, to spend money on cloud computing, to spend money on AI agents and take these different steps.

25:17And if you're unsure about the economy and what the administration is doing, you're not going to make those kinds of investments. If you're a CEO, it's hard to go to the board and say, I want to spend X amount of money to move my stuff to the cloud or to put these AI agents in when you don't even know what's coming up. Yeah. It's interesting when you talk about the Mac seven, that one company that would probably be right on the outside of that Netflix was almost positive today. It might've closed positive P and G like stocks like that makes sense because no matter what you're going to need your household supplies you said the tradable bottom which is interesting because we all knew that april 2nd was coming and we circled that date and obviously we saw what happened but now it feels like maybe april 9th is one of those dates that we now have to circle with the retaliatory tariffs coming back our way from all these countries that that we are now putting taxes on what's been a sentiment around the 9th now is the day that we all have to watch because we thought that was a tradable bottom a few weeks ago.

26:13Yesterday happened. Next Wednesday, who knows? Man, I mean, you got to watch the 4th, the 10th. I mean, there's still the potential for pharmaceutical tariffs, for semiconductor chip tariffs, lumber, copper. I mean, just there's so many different areas that could face tariffs. So I don't know if there's one date you can point to. I think the next date, I think a lot of people have it circled on their calendar, specifically when I'm talking to people who manage money or who try to trade is actually May the 7th. That's the Fed decision. So a lot of people are starting to think that the Fed might have to get active.

26:43Previously, it was thought very low chance of the Fed cutting in May. I think it was J.P. Morgan that came out and said they believe that the next cut will come up in July. I'm talking to a lot of people, a lot of rumblings who think that the Fed officials, Jay Powell, everybody else, they may feel like they need to get ahead of this whole tariff situation and cut as soon as May, which would certainly give the boost to the market. I don't know if you guys ever know this guy, Mark Smith from Wells Fargo Advisors, great guy. He's a guest on my show. He came on and he was talking about two areas of the market that he thinks, not recession proof, not tariff proof, but generally resistant to it.

27:13And one of them was financials. Another rate cut would significantly help the financials. I'm talking to big banks like JP Morgan, Morgan Stanley, Wells Fargo City and stuff like that. So to me, I think May 7th is the date and we'll probably have a lot of volatility until then. I think the only certainty that we may get is from the Fed if they're going to cut. Let's bring our other guest on. Friend of the show. Friend of the show. Caleb. still i didn't know frank holland was going to be here this is a full party thanks for having me we're just hanging out down in miami actually with uh chef kwame oh yeah ah nice your mom's great panel man chef kwame's a good dude salad salad guy so yeah caleb good friend of the show um chief editor of investopedia so i'm sure a lot of people have been hitting your site trying to find out what tariffs are and what risk when the recession is coming and stuff like that So from a historical standpoint, right?

28:12Can you give us some historical insight on tariffs and why America for the last 70 years has been more free trade? We haven't pushed this button of tariffs. But because people, you know, a lot of that's that's a common theme. People like, well, we've been getting ripped off for a long time. They can't understand why we haven't done this a lot earlier. Right. But there's a reason why we haven't done this. Yeah. Well, we actually have. And it was the Smoot-Hawley tariff that kicked this whole thing off about 100 years ago. So we've been a tariff nation. And in the early days of America, Alexander Hamilton, they all favored tariffs in order to raise some money for the government.

28:53But never to this extent where we're actually putting a consumptive tax on our own citizens to pay for this to raise money because they want to cut taxes. This is a very, very weird way of doing it. We have never had tariffs to this degree, but you've got to remember, Trump 1.0, there was over$300 billion worth of tariffs. The Biden administration came in and added more tariffs on top of that. But when you look around the world, it's just never been at this level. And the fact that we're coming out with this 10 % cross-the-board tariffs, which really, as I said, is a consumption tax for consumers here in the United States, that's a very big precedent right there.

29:28And I think it changes the entire global world order and it changes the way capital markets are going to work. And I'll say it for this reason. When you can't and Frank was alluding to it a little bit. The Fed meeting is super important, but you've got to wonder if this this level of tariffs and this intensity is intentional by the Trump administration that wants lower interest rates. He has said that back on the campaign trail and all along. So by forcing the economy to slow down, it forces the Fed's hand to lower interest rates so that our debt payments, which we make every quarter as a country, get reduced a little bit.

30:05We spend the second most amount of money we spend as a government is on servicing our debt, which is over a trillion dollars, just servicing the debt. So if we can lower that, then there's going to free up more money to do forced deportations, to build walls, to do whatever else is on the agenda of this administration. It feels like, is there a goal? I know there's been a lot of talk. What is the goal number or is there a goal number that they're trying to receive from the terrorists? Right. We obviously know that government spending and those was created to reduce that. But it feels like the uncertainty around the number, it kind of has no rhyme or reason.

30:39so from your perspective right is there from the the deficit which is what 37 trillion now is this the best method forward right like we i know shadi alluded to it earlier right sometimes you you can't pull the band band-aid off too fast yeah does it feel like this has happened and obviously is this the best method going forward no but it is a method and it is sort of taking a sledgehammer to a you know to a small nail because this is actually hurting lower to middle income families more than anybody out there. Peter Navarro was a Trump advisor, says it's going to raise$6 trillion. Not anytime soon, right?

31:16These companies are going to pull back on their shipments. Our companies here in the United States aren't going to order more, so you're not going to feel the impacts of that. Who's going to feel it? Consumers who have to go to the grocery store, load up like they do every single week, feed their families, right? Buy supplies to fix up their small business, order in inventory so they have enough inventory in their small business to be able to make it going forward. So this is more of a punishment against consumers and households in the United States with the intended impact of making people and other countries pay their fair share.

31:45The fact is, we've had a pretty strong economy up until about two or three months ago that was in pretty good shape, 4 % unemployment, GDP at 2.8%, right? Inflation was coming down, it wasn't to where it wanted to be, to where the Fed would like it to be, but it was on its way moving a little bit lower. So this is kind of like a complete change of the global world order. And it calls into question things like the sacredness of the 10-year treasury, right? The most widely held, most saved asset in the world, right? People own our debt because they believe that our country will grow and that we'll pay it back.

32:19Well, this is a big shot at that right now. And it's also a big shot at the dollar. So if the dollar becomes less desired and doesn't become the reserve currency anymore, which we're a long way from that. But if you lose the yield, the 10-year treasury yield, and you lose the dollar, you lose the structure of our capital markets. And that's very concerning. Well, this is some, anybody can chime in, but so this is, this is what is a little confusing because Trump has been, he's been obsessed with tariffs since the 1980s. So I don't know if this is like a, just a personal crusade of his, like, you know, kind of like a bucket list thing that he just was just obsessed with his whole entire life.

32:58And now he's just like, I just want to do this because like you said, I mean,

33:05if this continues, then we're most likely head to a recession, right? So presidents don't like to be presidents during a recession. So why would you personally tank the economy for no reason? Like we weren't in a bad spot. Like you said, we were actually in a good spot as far as the market, unemployment, a variety of different things was actually, he's actually inherited a pretty good situation. Now the debt is an issue for sure, but it wasn't needed. It wasn't needed to do it in this fashion. And a lot of people is going to cause a lot of pain. And like you said, lower to middle income people are going to feel that pain the most, right?

33:51Because it's like, okay, if you got to pay extra$500 for something, that's inconvenient. If somebody is making$40 ,000, has to pay$500 for something, that's life-changing. That could potentially be life-changing, right? So yeah, I'm trying to figure this out. So you guys, what is your thought process? You brought up the interest rates. That's interesting. But outside of that, why would he do this? Like, why would he have this much pain so early in his presidency for no apparent reason? Frank, you want to take it first? No, go ahead, Cale. You're a starter. Okay. Here's what I think. And this is my opinion, not Investopedia's opinion, but I think that they want to burn it down, you know, or at least slow the economy, take it into a recession, bring the market way down.

34:43and then through whatever mechanisms, either through privatization, which is where a lot of this is going when you look at a lot of the government job cuts, privatization, so that those that are in close can line their pockets and get rich as they rebuild it back up, but through private means, right? And then redistribute that wealth among the people that are going to help them get reelected in the future. So I think that's part of it. I think there's also a, let's burn it down so we can build it back up and say, what a great job we did rebuilding this economy, which was in tatters. It is so rare.

35:14You mentioned it, Rashad. It is so rare for a president to come into office over the last four decades that's not in a recession. This president inherited actually a pretty strong economy. Biden inherited an economy that was coming out of the COVID pandemic. And even the last two presidents, they entered the White House in very difficult times for the economy, not this time around. So by burning it down and then rebuilding it, say, we fixed this whole thing and look how we did it. Meanwhile, a lot of it's been privatized and very few people are getting very rich off of this. When I look at it, it seems to me, again, this is my opinion on CNBC, it seems like to me a president is trying to establish a legacy.

35:50You know, he felt like he was supposed to have back-to-back terms. He's come back into office now. One way to establish a legacy is to reshape global trade and put your mark on that. He's someone who has done business all around the world, whether it be casinos or golf courses. His first administration, he did hire a lot of business leaders. This time, it's even a bigger concentration of business leaders and people with very specific thoughts about the global economy as Treasury Secretary. Scott Besson's a great example of that, somebody who's just seen as a global thought leader when it comes to finance.

36:20So I think for him, it's really his chance to put his stamp not only on the presidency the second time around, but the entire world. And I think you often hear him say when he's talking to business leaders about things that he sees as accomplishments, he goes, Trump got it done. Nobody else could get it done. People are saying that Trump got it done. So a lot of it seems like his legacy, at least in his mind, is at play. And you have to remember, this is somebody based on what we saw in reports and ourselves on TV that faced a near death experience, possibly being assassinated. He's an older gentleman.

36:50He's close to about 80 years old himself. So when you get to that stage, as we all get older, we start to think more about what am I leaving behind? How are people going to see me? What accomplishments do I have? That's a very good point. That's actually both of you. That's very insightful what you just said because he puts his name on everything, right? He's the guy that puts his name on stuff that he doesn't even own. So like Trump Tower and Trump, like he's very big on branding and he's very big on legacy. So he said this before as far as like, if he can be the person that literally reshapes world trade from like how it's been for the last hundred years in a free trade market.

37:31And if he can, if he can, and now it can be like the Trump trade plan for the world, branding wise. I never, I haven't really thought about it like that, but that makes a lot of sense. That actually makes a lot of sense. It's kind of like what he alluded to, like what you were saying. He's had this ideology since the 80s. It was that Johnny Carson interview where he's sitting there talking about trade. But even watching him today, it feels like there's a certain level of delusion, right? I think Josh Brown said it today. Like he's either incredibly right or he's going to be incredibly wrong about this um as the market is tanking right the dows down 1500 points you know reporters are asking him about it he said no the market's looking great there's going to be a boom in the market and it's it just feels like a level of delusion even to the point where we're talking about making jobs come back to america and and caleb before you were on we were kind of alluding to like does that even feel fathomable at this point right the amount of time that it would take to build some of these jobs.

38:28I know Nike took a crazy hit, Apple. Does this feel like something that is even feasible over the next five years? Because yeah, 10, 15 years, you can build factory, you can build industry. But by that time, it won't, these companies are gonna take such a financial hit. People, the customers, obviously, if the company's taking a hit, they're gonna raise prices. People are gonna feel the impact. Is it even feasible to bring these jobs back? Well, we've only got like 13 million manufacturing jobs in this country right now. Now that's down from like 20 million. Even the president alluded to it himself.

38:59But there's a reason. A lot of people don't want those jobs. They don't pay that well. They're really hard jobs, right? They're very difficult. They're physically difficult. They require a lot of hours. They don't pay that great. There's no more pensions anymore. So who is doing those jobs? A lot of the people that immigrated into the United States, the same people he wants to send out of the United States, were actually taking those jobs, right? So building the factories is one thing. creating factories where you can pay a really livable, a real livable wage, where somebody can raise a family on it and maybe, God forbid, own a home at some point in time.

39:31That's asking a lot of companies who are measured on a quarterly basis based on their bottom line, right? They are responsible to shareholders. So when you have a shareholder mentality, right, and you have to answer to them every single quarter and increase your, you know, your projections and your forecast going forward and keep beating the street, and Frank knows this well, well, you're not going to pay the best wages, you're going to find the cheapest source of labor that you can. And that cheap source of labor has been Mexico, that has been Vietnam, that has been China, that has been anywhere but here.

40:02So you're asking companies to pay a lot more for that. And by putting tariffs on products coming into this country, and now the retaliatory tariffs, you're not solving that part of the problem. The part of the problem that we have to solve is, are they responsible to their shareholders? Are they responsible to their communities? Are they responsible to the United States to provide living wages for people so they can raise families. That is a real big disconnect. You can't have it both ways. You can't. I mean, you can't have a capitalist society and then say, well, we want everything to work fairly.

40:32That's not how capitalism works. This isn't, this isn't, you can't be anti-socialism and anti-communism and say, we want everybody equal. We want, no, the capitalist society is to make the most money as possible by spending as least money as possible. They're not doing anything illegal. It's not good business to spend billions of dollars more than you need to. It's more efficient to get the job done in those other countries because you can pay the people less. This is, I mean, we don't have to sugarcoat it, right? It's more efficient to get the job done in other countries because you can pay the people less and you can produce the products quicker, less red tape you don't have to go through regulation they don't it's a variety of different factors just like if you're building a home it's more effective to have illegal immigrants build a home because they don't have health benefits they're not part of a union and you can pay the people less now is that morally right or wrong you can make an argument on both sides because on one side you can say it's morally wrong on the other side you can say it's better than what they would get in the other country that's why they came to this country so it's not it may not be what you're looking for, but you're not them.

41:43So this is not, I don't understand this, but this is easy for people. If you haven't employed somebody, you don't have a full appreciation of this. If you are an employer, then you look at, you look at things differently. So none of these companies are going to be happy about spending more money. Yeah. It, it, it, Frank, I'm going to come to you because you've been, you've spoken to CEOs, right we looked at the first quarter it was a negative quarter now we you know we're starting quarter two how are ceos even looking at their pnls at this point right with the tariffs to every day it's changing q2 how are people going to even be reporting their earnings obviously you're going to have to you're losing you're going to lose employees right you're going to make less money what does this look like in the ceo world when q2 ends in june and this number comes in?

42:36Well, we've already seen CEOs just respond to some of this before the tariffs were announced. Their guidance is pretty weak, which often leads to their stock not doing well after earnings. Even if the numbers for the earnings they're reporting are fine, for the quarter they're reporting are fine, the guidance is weak. That leads to a sell-off on some of the stocks. So that's one of the reasons we've seen a lot of volatility. But very quickly, I want to go back to Rashad's point for just a minute. We're a capitalist country, but we're not pure. It's not a pure play capitalist situation. Remember back during the great financial crisis, we bailed out the banks.

43:04So if we were a capitalist country, the banks, they made a lot of risky bets. They lost. They bet on housing and mortgage-backed securities, and they put them together in a way that just wasn't solvent. They lost. So why don't we just let the banks go bankrupt? Because that's not going to work in the United States because people have their money in the banks. Why don't we let the auto industry go bankrupt? Well, the auto industry has tentacles in so many other industries, like we're seeing right now with the tariffs being impacted. If all the automakers went out of business. It would lead to restaurants going out of business, the trucking companies that ship the parts going out of business.

43:35So we're not a pure play capitalist country. And I think that's what a lot of CEOs are trying to figure out, at least the ones I'm talking to. They're trying to balance understanding the president's objective as much as they can. A lot of them admit they're pretty confused about the terror, specifically with Mexico and Canada, when he's the one that did USMCA and doing what's right for the company and trying not to lay off workers and trying to keep products on the shelves and things like that. So it's multi-tiered. I feel like They're almost as confused as we are, except as you mentioned, Rashad, they have the responsibility of a workforce, of a board, of shareholders that they have to try to balance.

44:08So I think this earnings season that's starting up in about a week and a half is going to be pretty interesting. The banks come up first. So the banks are going to give us a lot of insight into loan demand, the willingness of companies to go public, the credit situation. I mean, a whole lot of things. We're going to get a great read on the economy. I think it's the first day. I think it's Citi and JPMorgan, that report. don't might want you to correct me i might be wrong about that but two big banks will give us a lot of insight so okay so let's go to this part because this is there's opportunities in every crisis so i do want to because you know when i came when i i used to be a financial advisor and i started during i literally started my career during the great recession it was actually a good time to start because i had nowhere to go but up and i was putting clients and mutual funds and 529 plans and a variety of different things.

44:58And a lot of these people had never invested in the stock market before. So that was their first time invested in the stock market. They was investing when the stock market was down 30%, 35%. And it worked out for them. So there is opportunities in every crisis. And this is definitely a crisis. So let's go through these different ones. Larry Frank, Frank, Frank. Frank. BlackRock CEO. He made interesting commentary about Bitcoin. And this is interesting. Bitcoin is interesting because usually Bitcoin traditionally, previously, it wasn't directly tied to world economies and the US dollar. But now we see it's like a direct correlation.

45:45When the stock market goes down, Bitcoin goes down. they don't move opposite. Gold has been going opposite, but Bitcoin is pretty much like a tech company at this point. It moves as the stock market moves. And today it was down. But do you see a world where this is actually beneficial for Bitcoin with the dollar? Because the dollar went down also. That's another thing. Tariffs are actually supposed to make the dollar stronger from my understanding. But in this case, the dollar is actually decreasing. And I guess a lot of that is just world sentiment that's kind of turning negative across america but then a variety of other things that you talked about so okay in this world of this is hurtful to america for sure but could this be beneficial for bitcoin palo you want to take it first i'll take it first i mean we know that 50 odd million people own crypto in some way shape or form but we also know that the top one percent own the most of it right And a lot of Bitcoin is owned by publicly traded companies like the MicroStrategy of the world that are basically Bitcoin treasuries.

46:51Even Tesla is like a Bitcoin treasury. So it could be good just because of the scarcity aspect of it all. And we used to live in this world called Tina, right? There is no alternative to stocks because interest rates were so low. There was just stocks, right? You'd be a fool to invest in anything else until Bitcoin came along after the great financial crisis. Well, now you have this alternative asset. but for most people, they don't know how to turn Bitcoin, whatever Bitcoin holdings they have, into usable fiat to pay their utility bill, right? We still aren't at that level where it's just something I can just, oh, I'll just Apple pay with my Bitcoin right now.

47:27Now, you can in a very few cases, but when we're talking about the people that are going to get hurt the most by rising prices, stagflation, a potential recession, higher tariffs, Bitcoin is not going to be the answer for them. So it won't have that type of demand, that mass demand, like we thought it would at some point in time. At the same time, this is a deregulatory administration that has been promising to stockpile Bitcoin, add it to the reserves, mine its own Bitcoin, and I bet you will eventually let it into our 401ks. Fidelity announced that today or yesterday. You can now have Bitcoin in your 401k if you want.

48:03So it is going to become a little bit more ubiquitous, but it's not going to become more useful. And I think right now we need a really useful currency and a dependable currency to get through any type of crisis that we're going to go through. It's not going to be the answer for the masses. It's going to be the answer for the very rich. And that's another thing that makes me wonder. Like, usually the stock market falling, you know, into a correction was a stoplight for President Trump and Trump 1.0. It's not anymore, right? The 10-year treasury yield spiking used to be, oh, you know, maybe we've gone too far here.

48:36It's not anymore. Why is that? they're deep into cryptocurrencies in that administration in person the trump coin the melania coin the family all the different etfs that they have associated with their coins and their meme coins maybe they don't really care about what has been traditional ways of growing wealth in this country because they're into it digitally and again they're just here for now i don't know it it definitely and this is why i feel like there's something that that savior complex is coming into play at some point it's just a matter of time right there was a time in Trump 1.0, like you said, if the market was going down, it was a concerning issue, right?

49:12To hear him say that the market is looking great as the Dow is down 1 ,500 points and the Nasdaq is down 1 ,000 points, it's concerning, right? And the people that it's going to affect, and I'll let both of you guys can answer, are the middle class, right? So when we're talking about the jobs coming back and we're talking about living wages, we're talking about government funding being cut, we're talking about government programming being cut, that directly affects the middle class. And so obviously a lot of people who are watching here tonight are part of that class what what is the solace that they can take in this at this point man i mean is there any solace right now i think it's hard to find any solace right now i'm not sure about that one man um i'm gonna jump off of uh caleb's point really quick uh caleb to your point trump family is deep into crypto i mean eric trump um i think a couple maybe it was yesterday came up with a headline saying that he was thinking about turning the family business pivoting it fully into crypto.

50:04He's launching a Bitcoin mining company, just doing a lot with cryptocurrencies overall. I think when it comes to Bitcoin, at least for right now, I don't think it's the moment for Bitcoin. This is, again, my personal opinion. Caleb, again, to your point, a lot of those Bitcoin buyers, they were institutional buyers. They were companies and things like that. Right now, people are trying to de-risk their balance sheets and de-risk their portfolios, whether you're a tech company like a Tesla or you're an institutional big bank doing it right now. And also they found their new thing, private credit.

50:36You saw a private credit ETF come out. So I think a lot of the interest when it comes to institutional buyers is private credit, which is basically private debt, loaning people money at high rates with basically higher levels of collateral. Or you buy a house, you might put down 10%. Well, a private credit deal might be, you have to put down 50 % or give collateral up to 50%. So that's becoming a lot more of a lucrative part of the market and also an area where they're trying to get, they're hoping to get retail investors through ETFs, but institutional investors, a lot of money managers are pushing them towards private credit.

51:13So it seems like Wall Street, they just find new things, whether back in the day it was mortgage-backed securities. Now it's private credit for a while it was a Bitcoin ETF. So I just don't know if right now is the time for Bitcoin. I'm going to be honest, I'm not a big cryptocurrency person. I hold some just to diversify my portfolio, but I'm not really sure which one's going to win. I don't think any of us know which one's going to win long term or Bitcoin will even be a thing 10 years from now. Maybe it'll be all about Ethereum or Solana. I'm not really sure. Right. So what is the asset besides your home that working families can hold on to to try to continue to build wealth and pass it on to their generations?

51:50We've been teaching people for 50, 60, 70 years about the stock market. First, it was mutual funds, right? Then it was index funds, then it was ETFs, right? And now there's half as many stocks on the publicly traded markets than there used to be. Why is that, Frank? Because it's a pain in the ass to be a publicly traded company, managing quarter to quarter, right? Shareholders up your butt, increasing your forecast going forward. What's wrong with your profit margins? How come you don't have enough DEI or whatever? It's a really hard thing to be a publicly traded company in this country. There's a ton of regulation.

52:23Now, they're going to remove some of that. And at the same time, you know, if there's not going to be, if there's going to be less publicly traded companies and Wall Street keeps inventing new things to sell us in the form of private credit or, or private equity in an ETF wrapper, which is like, you know, my friend Tyrone says, it's like putting a, putting a Ferrari engine in a, in like a Buick, right? It's like, you're not going to get the most out of it. What are they doing that for? They're finding different ways to securitize things because the things that we have grown up investing in that were the building blocks of our wealth are becoming scarcer.

52:58And now the public markets, I'm afraid, are becoming less trustworthy. Yeah, I don't have an answer. Obviously, your personal residence is a great investment because you can live in it. And ideally, it also appreciates the other areas. I'm not sure. I think it just really depends. I mean, education is always a great investment. But the question is, what is that education? College doesn't seem to make the same sense that once did. I know a lot of people that graduate in debt and aren't really on a trajectory to ever get out of debt with the money that they're going to make if they plan to live even just a middle class lifestyle.

53:29You know, it's one thing if you go to college and you're going to live in a shack somewhere and save every penny. But who really wants to do that after spending four years in college? I do believe that stocks are still I still believe the stock market is going to eventually return to some sort of a mean return. I don't know if it would be the 12, 13 percent. I thought you meant outside of stocks, though. Yeah, outside of stock. I still do think stocks are a great investment, especially over the long term, if you're willing to hold. Like on my show, I often question people. They go, I'm a long term investor.

53:53I'm like, OK, but this is a show for people looking to make some short term to intermediate moves. But in general, holding stocks over the long term is the safest investment by far. Has been. Yeah, for sure. OK, I'm glad you guys said that because they call me a doomsday alarmist a lot of times. But thanks, Frank, for being honest. No, it's true. It's pretty consistent. So how do you feel about investing right now as far as companies? Are you deploying money into the market right now? Or are you, because I'm always putting money into the market. My theory is that you have to force yourself to put money into the stock market every single month.

54:34That's my theory. So I'm a big believer in dollar cost averaging. Now, sometimes you put money in some things, you might not put money in other things, right? Like I might see an opportunity where it's like, okay, well, I think that it's time to be a little bit more conservative. I'm just going to put money in S &P 500 this month. I'm not going to put money in the stocks. Or I'm not fully confident in Apple. I'm not putting money in Apple. I might put money in QQQ, which Apple is a part of. but I feel more confident because it's diversified amongst a variety of other different companies besides one particular company or SMH is down a lot right now.

55:16So maybe SMH, I feel confident in putting some money in SMH or riding it out. That doesn't mean that it's not going to, because I also firmly believe that we're headed to a recession. If we don't, if this doesn't change, let me preference this by saying this. If this tariff policy does not change, if it does not change, we are going to be in a recession. and if we go into a recession we're going to a bear market and if we go into a bear market stocks are going to fall lower than what they are now i think that's that that's my that's my thesis but what are you doing i think that's safe to say right now the like i said the the number one catalyst is uncertainty and that's what we're seeing consistently over the past couple of weeks and so you always have to have your targets right so like we talk about nvidia i know ian said 105 five is the number well it hit 103 today it's headed to 90 at this rate well that's fine right if i see it at 90 it's even more attractive to me is it a company that i believe in is it a company i'm going to hold long term it's a company that i have 3 000 shares in i'm not going anywhere right and so i buy i'll buy more i told you an attractive company for the past two months has been netflix we saw how they reported after their last quarter obviously what they're doing with live sports in the WWE.

56:37We actually witnessed it at first hand. I like that company. How will tariffs affect that? I'm not sure how it will affect it long term but I see that at discount. I like it. The other one is meta, right? Obviously what they're doing and the role that they're going to play in connectivity throughout the world, not just here in America and the global landscape that they have. I like them too. And so when they get down to attractive prices, I know Nvidia just dropped 32%. Apple dropped 20 % today. The companies that you liked and you were waiting for them to be 20%, 25 % down from their all-time highs?

57:09Well, they're here. Will they go lower? They could, but they're still attractive companies. Those are the companies that will lead this economy. You already alluded to it, Caleb, when you're talking about 55 % of the S &P is in the MAG-7, right? So these companies are going to lead our economy. They're at discounted prices. Dollar-cost averaging is important, but you're staying in these companies for the long term. Those are great companies, so you stay on one. Now, are we doing options on some of them? Nvidia, it gets down to 90. I like it because I can see out to 2027. Right. So when I start seeing 2027 calls where it's deep, like December 2027, I like that.

57:45I'm always using time as a barrier to help me fight off volatility. What about puts? Puts is another one. I see everybody in chat. I feel like everybody's doing that right now. Right. Everybody kept circling April 2nd. They're looking at April 2nd as a date. They know that tariffs are going to get into effect. They start buying puts on indexes, right? So they bought a put on the S &P. They bought puts on QQQ. Why? Well, exactly what happened today. Now, we don't know what certainty looks like or uncertainty looks like for the next couple of weeks. Like you said, if this doesn't change, I mean, it's pretty safe to say that recession is headed.

58:21And that's just by definition, two negative quarters. I can't see how these tariffs are going to affect this month. And this is a positive quarter for most of these companies we're on the verge we're on the verge of a global meltdown a global recession i don't think xrp is going to be the answer i don't know why people are so obsessed with xrp it's confusing to me but out of every out of every vehicle that you can think about xrp is the one golden child it hasn't done anything in seven years it goes up it comes down and i'm just it's just this but But this goes back to the lack of education. And this also goes back to the gamblers mentality.

58:59And it's also how much education can we give you guys? We've been giving you education every single day for seven years. So for you to champion XRP, it's disappointing. Because it's like, I'm not saying that it has no future at all, but out of everything in the world, XRP is the one thing that you're going to die on. It doesn't cost much, right? People can load their money inside of it. There's uncertainty around it. we heard that the SEC has now settled. It's the hope, right? It's the hope of it increasing, as Frank pours a cold. There's a lot of people in Vegas with hope. Exactly. That's why we never put hope into the equation, right?

59:39You want to make sure you do enough research and you're investing long-term in some things that we know are proven to increase the GDP of our economy for sure. Well, let me ask you guys this. From a global perspective, right? How do you think the perception, how does this affect, because everybody's mad at America right now. That's another part of this equation from world leaders, but then citizens like people. I've seen Canadian citizens. That's like, they're not going to America because they're boycotting America. Like there's a global sentiment that is setting in of people that's mad at America.

1:00:12How, how, how do you think that is playing in? And what, what is the long-term effects of that? Because America was always known as like the place you want to go to. It's like the cool place to be. We were cool. We got the Fonz. We got blue jeans over here. We're a lot of fun. But right now, nobody wants to come, right? So it's going to hurt on the tourism front. It's going to hurt on the trade front. We know that. But also just on the cultural, and it's hard to put a number on this, but cultural influence has a wealth impact as well. And you can see it in entertainment obviously when movies go from here over to there, over to Europe or Asia, where certainly Marvel and those other franchises are massive.

1:00:53But they also have parks over there. Disney operates around the world, right? Coca-Cola sells its product around the world. I think half the companies in the S &P 500, 40 % of the revenue comes from overseas. So that's going to hurt both on the sentiment front, on the brand front. And also, again, what is the cultural impact from a dollar perspective that these companies are going to feel because they come from the United States or they're associated with the United States, like Mickey Mouse, like Coca-Cola, right? There's nothing more American than these companies. And I think they're going to suffer abroad as well.

1:01:28Yeah. I mean, I think that's a great point, but you got to remember we're a service economy, like the things that we export are services. And one of those things is education. So as long as we have Harvard, Stanford, you know, Georgia Tech, people will come to the United States. Well, that's on the fire. Now people with the administration doing what they're doing with Columbia and Harvard. And now people saying like that, the education thing, which we want, you were right. But now education is under attack. All of these Ivy League schools are shuffling because what they're doing is the administration is putting so much pressure on these schools that they're forcing them to change policy.

1:02:05Now they're upsetting students and they're upsetting faculty. But then on one hand, they got to satisfy administration and they got to satisfy people that's giving them money. On the other hand, they're sacrificing their credibility with the students and faculty and real academia. Right. Because that's not how the academic really works. So, yeah, you're right. But at what point do people say, well, yeah, I'm not going to school in America anymore because I might get arrested from a plainclothes police officer and sent to Houston and held in a detention center for six months? I mean, that that seems to be something that's emerging as an issue because we've seen some people, you know, according to reports, essentially get taken off the street.

1:02:46But can I say from my personal experience, this is anecdotal. When I went to business school, about three quarters of my class was from Asia. And a lot of them were very wealthy, like the parking lot. I got my MBA from Bentley University up in Boston. The parking lot had BMWs, Bentleys, things I'd never seen before. And I would ask my classmates like you're you know, why'd you come over from whether it be China or Taiwan or wherever? They're just like, you know, my parents wanted me to get an education in the US. They thought it was you know, they saw a lot of prestige in me going to school in Boston.

1:03:15So at least in the near term, I don't think that really changes. You know, I mean, the prestige of American schools, the experience of going to an American school from what I hear, I didn't go to college anywhere else. It's very different than going to college overseas. Also, just the networking ability. You get to meet people in the United States, potentially make business contacts. But that paradigm, to your point, could be changing because a lot of the people that I worked, that I went to school with, their parents sent them over here. There was the prestige of going to school in the U.S. And also you meet people here in the U.S.

1:03:43and then hopefully make business contacts that work for their businesses overseas. Is it sustainable, though? Right. I had a very insightful conversation in terms of just college. Yes, the prestige, but the battle for the future won't be from an institution. right like if we're talking about the advancement in artificial intelligence it won't be a battle for like who's more intelligent because they went to said ivy league school it'll be like who has more of a purpose and who has a skill because if an agent can learn a four-year degree in 10 minutes then i could just work with the agent and save myself the time and the money that's going to cost me to actually go to school so how how sustainable is that mindset of hey hey we we have the best schools?

1:04:26That's a tough question. At least in the near term, I think it's pretty sustainable. But I think that goes full circuit. What we were talking about, is going to college the best decision for a lot of people? And I know that this show obviously focuses on the black and brown community. Does that always make sense? Why not a trade school? I mean, when you talk to people, a lot of the millionaires that are at golf clubs and doing things, they're plumbers, they're contractors, they do HVAC. You're seeing a lot of people build their wealth that way. And then the jobs of the future really go in full circle.

1:04:53We were talking about what are those going to be? Are those going to be jobs where you need a four-year degree or you need the ability to learn and adapt? And can you learn those skills that you need to use physically better at a trade school or some type of other technical school? I have really mixed feelings about the tariffs. In theory, it kind of makes sense that it would bring jobs back here. I also hear what you're saying is that a lot of these jobs are going to be taken by robots and things like that. But I do think you have to try to bring some jobs back here so people can start with those jobs and get upskilled to the jobs that are going to exist in the future.

1:05:28I've seen various estimates, but I've seen one estimate was that 60 percent of the jobs that exist today didn't exist before World War Two. So you have to start somewhere, especially for lower income people and whether it's assembly. Nobody dreams of assembling an iPhone in some factory in Idaho or Iowa, but that's a start. And then hypothetically, you can be upskilled to the higher tech jobs of the future where you work side by side with a robot or you do augmented reality, whatever you're doing. But you do have to start somewhere. Well, you also brought up a good point where you said 70 percent of your classmates was from Asia.

1:06:05That's another thing that we talked about. That's another problem. Right. Like we as a society are actually getting dumber. This is not my personal opinion. This has just been proven. We're not even in the top 20 when it comes to education in the world. We might not even be in the top 40. So even a lot of these high, the high paying jobs are not going to Americans anyway. We came back from Silicon Valley. We was in Meta and we was in NVIDIA and all of the people there were either from China or from India. So yeah, I mean, we're bringing jobs. If we're going to try to bring jobs back to America, but like you said, those are low paying jobs for the most part, even if it's a high paying, low paying job, it's still a low paying job when you factor in inflation and variety.

1:06:45These really high paying jobs Americans aren't getting anyway because of education. We're not educated enough to actually do these jobs anyway. But you got to start somewhere like I used to work in Detroit. I spent a lot of time in Detroit. So, I mean, I think there's a lot of potential for someone to start on the assembly line at a Ford plant and get an idea like, man, I can do this better. than you create a stamping plan or you create some other part plan or you create some innovation, but you have to be in that room to get the insight. But we never moved up from that though, Frank. We've been doing that job for 150 years.

1:07:22I hear what you're saying, but it's 2025. We don't need to start at the ground level anymore. We got to start at the highest level because we've been at the ground level forever. And that promise of moving up the ladder, we've never moved up the ladder yeah it's like preparing for a race forever like the races are it's already being ran like we can't get to the starting line and say all right we're ready no they are ready running the marathon right like we it's not even playing catch up but we got to participate in the space where it's like all right well we can't start at the ground and we can see where this is headed we have to be in this race for the long run or else we're going to stay at the finish start line I'm like, all right, I think we're ready to go.

1:08:04I think we're ready to go. No, I get what you guys are saying, but you got to also understand it. When he said they're taking black jobs, right? I mean, that's essentially what he's referring to, right? But it's like low-skilled jobs are not... Low-paying and low-skilled jobs are not a pathway. It's not a sustainable future, right? So it's like, why are we really even fighting for these jobs? They're not sustainable. They're not sustainable. like putting together an iPhone is not aspirational and it's not sustainable. That's not something that I don't think our focus should be on. I understand everything you're saying, but you got to start somewhere.

1:08:44And while Caleb was pointing out that the U.S. unemployment's at about 4%, black unemployment's higher than that. And a lot of us are skewed more towards, as you're talking about, lower paying jobs. I'm not saying that manufacturing jobs are the cure-all that's going to fix everything. but oftentimes manufacturing jobs are steady. They pay better than service jobs, even pay better than some of the warehousing jobs they've got really popular during the pandemic. They come with benefits. They provide a ladder for people that want to use it. Similar to the military. The military doesn't pay great, but if you get into the military and you learn how to use some of those resources, it can be a ladder up.

1:09:17Some people get out the military and you're right. They don't have any more skills than when they got in there. Let me ask you this, both of you guys. Before we wrap, I want to get your opinion because the political aspect plays a part too. So Elon Musk, you see, he's been under a lot of pressure and it's starting to backfire. They lost the judicial race in Wisconsin, which he put a lot of money into. 25 million. So that to me is a sign that there's some level of there's a revolt politically. This usually always happens. One party gets in, then the other party has a favor because they could just say the other party's messing up.

1:09:51But Trump, he's pretty hell bent on what he wants to do. everybody around him is is is gonna agree with it i wonder at what point if the stock market doesn't cause enough pain like if we go into recession we lose 30 percent of stock market and that's not enough pain at what point do the republic does the republican establishment put pressure on trump because they're saying that this is starting to backfire on us right because a downward economy is not beneficial for a political party that's in power so they're going to start getting blamed for it eventually. Right. So he might not care because he only has one term left.

1:10:27But if allegedly allegedly, but if but if the Republican establishment, which I don't even know if there's a public establishment at this point, it's just MAGA. Can political pressure get put on him to reverse course if things get too bad? Yeah, well, money talks, right? And as soon as, you know, some of those donors start losing some of their money and some of the big donors or some of the big governors start losing donors in their states and losing those statewide races, which doesn't allow them to do the redistricting, which doesn't allow them to do the remapping to then stay in power for the next 12 years.

1:11:05That's when I think you'll start to see a little bit of a pullback because it's clearly not the stock market. We've already seen that. It's not the bond market. We've definitely seen that. I think people are going to get angry. They're going to get hungry and they're going to get mad this summer. We'll see what that does or whether this government's just going to clap down with martial law, that remains to be seen too. Like what happens when people hit the streets because they are just so mad they can't take it anymore? That's where we're going to end up seeing how this government responds to that and how the rest of the nation observes that and says, oh, is that how we're handling our people now?

1:11:34I mean, we already talked about people being taken off the street and being deported to Houston and stuff like that. What happens when people get really mad and start taking to the streets, right? And what happens when the big money stops flowing into the people that have put this administration in power? That's probably when you're going to see some movement? That's a great question. I think the midterms, longer horizon, the midterms for congressional races is going to be a key test. If the Trump-backed candidates win the midterms, I think that extends his influence, even though he's a lame duck president.

1:12:05If they don't, I think that's going to be a clear dividing line in his influence. Before then, I'm not really sure. Because I mean, look at Tesla. Elon Musk, I mean, I can't, I don't even remember how much he's lost. I think he's lost about$600 billion. Yeah, he's certainly been impacted. And also, I think some of his plans for the future are potentially impacted. Like, you know how when you ride a car, you call it an Uber. And there's only Uber and Lyft, but you still call it an Uber. Like, I'm going to get an Uber, even when you're doing a Lyft a lot of times. he's going to put out robots and also a robo taxi the question is do people want to take them if they're associated with elon musk to caleb's point like are you so disgusted by what happened with doge and some of the other things do you do you basically boycott the tesla robo taxi do you not buy the tesla robot do you buy the hypothetical microsoft robot instead does that hurt the stock are other people in this trump orbit are they potentially going to face that kind of same consumer reaction.

1:13:01We just don't know yet. You know what I mean? It's not clear. One of the tests we might get, and I don't even know how this is going to work out, but if one of the companies where the CEO is a Trump backer gets to actually buy TikTok, do people leave TikTok and protest? I don't know. I don't think so. I think people just kind of really like TikTok. Yeah, I mean... As you were saying, exactly. It's like Twitter. Nobody's leaving Twitter. Exactly what I was thinking. And also, I mean, look at Mark Zuckerberg. He's very closely in line with the Trump administration right now. I mean, I'll be honest, you know, I don't know anybody that's left Instagram because they're against what Mark Zuckerberg's done.

1:13:37I haven't heard, I've heard people say a lot of other things about boycotting this retailer, boycott this retailer. I haven't heard one person say I'm jumping off Instagram. Frank's right. You say one thing, but do the other all the time. Frank, you nailed it, man. I was actually thinking that, right? Like Robotech, that announcement is going to be coming in June. I know they have a rollout, but you think about all those CEOs, that came to the inauguration or pre-inauguration and came and spoke to Trump and what that perspective is now that they've lost hundreds of billions of dollars from their personal wealth.

1:14:08Obviously, they're going to be fine. But it's interesting to look at. May 7th is the date you brought up the Fed chair. Caleb, I think you're one of the most educated people in this space of breaking down the correlation between inflation, between the CPI, between mortgage, not mortgage, the interest rates going up. Can you just explain that to people so they can get a clear glimpse of how all those things play a part and why the decision of how many rate cuts we get this year is going to be super important? Yeah. The Federal Reserve, our central bank, has two jobs, two mandates, right? Keep unemployment or keep the country fully employed, which is somewhere between three and a half and four percent unemployment and also keep inflation in the two to two and a half percent range.

1:14:58That's where they've traditionally wanted these things to happen. How do they do that? They do that by either raising or lowering interest rates or buying more government securities, but by raising interest rates, making money more expensive, people are going to spend less. That's a way to keep inflation from rising or to actually help bring it down. We saw that when inflation hit 8.8 % after the pandemic, they raised rates to multi-generational highs to do that. And we're still on our way back down. Now, if the economy starts to sputter because we're doing less consumer spending, and just remember that GDP, gross domestic product, is 70 % consumer spending.

1:15:36That's us going to the mall, taking a vacation, buying a new pair of Air Force Nikes, Frank. That is us spending money and businesses spending money. When we slow down our spending, the Fed lowers interest rates to juice the economy, makes money cheaper, cheaper to borrow, so we'll spend more, consume more. That usually kickstarts the economy. Now, what we've seen over the past several recessions, going back to the great financial crisis, is when the economy got into really bad shape, whether it was the fault of the banks making bad loans or whether it's just a COVID all of a sudden knocking everything offline and all of a sudden everybody's at home and the economy comes to a to a sandstill.

1:16:14Well, what does the Fed do? It's slam. It lowers interest rates to the floor. It takes interest rates to zero to stimulate the economy to get people spending again. That's what we did. That's what produced inflation. And that's what got the economy back in gear and the stock market back in gear again. The concern to me now is that there is no moral hazard when you knew the Fed was just going to come in and take care of everything or the government was just going to put helicopter rain, helicopter money all over the economy to get us spending again, whether that was through stimulus payments or what have you, or through TARP back in the great financial crisis.

1:16:47Is this the type of administration that will do that? Are they going to come to the rescue of the economy that they're kind of burning down right now? Or are they going to let it burn and in the process destroy tens of millions of households and their wealth going forward? And that's a huge question right now. And how much control does the Fed really have? The Fed has always said it remains independent. I'm in Washington, D.C. right now, guys, tomorrow morning, I'm going to an interview with Fed Chair Powell. I'm not interviewing him, but I'm going to be in the room when it's happening because I want to hear what he has to say about this.

1:17:15But he's not going to say anything because he knows he doesn't have the power right now.

1:17:22Extremely insightful. Extremely insightful conversation. Can I hit you guys with two things really quick? Tomorrow on CNBC, we're going to have the Microsoft CEO, I believe my colleague, John Ford. He's going to be doing the interview. For anybody that doesn't know, follow John Ford, man. He's the eminent voice when it comes to tech. He's the Walter Cronkite of tech. He's the Brian Gumbel of tech, right? Any other thing you want to throw in there. To your other point about robotics and everything, personally, and this is just me, this is not, you know, I'm not instructing anybody to do this. It's just insight into what I do.

1:17:54I'm a big believer in investing in the triple Qs and the mag seven. I think at least a couple of those companies are going to win when it comes to AI agents, automation, at least a couple of them. And probably when you look at the triple Qs, a bunch of them, a bunch of them are going to either do the software, do the agents. I mean, just various companies in there. Then the other thing, mutual friend of all of us, John Hope Bryant. He's doing an event tomorrow, business plan for America. I think all of us have to come up with our personal business plan. We've got to think about what happens if we face a recession.

1:18:23It's not just about saving money. It's just what do you pivot to right now? If you're just doing a job just for a check and it may go away, how do you pivot to doing what you actually want to do and you're passionate about as you guys mentioned this is a crisis but out of all crisis or crises come opportunity new businesses will be created new industries will be created um even just new nonsense will be created people come up with new things that they're just interested in to waste time and i'm not dissing anybody but the ashton hall thing people are now buying saratoga water and squeezing lemons and dipping a face in bowls um there's going to be some other craze like that during the pan i mean during the recession if we have one.

1:18:59There's going to be so many opportunities. So I know me like and I think everybody else out there, you should be going with your own business plan. Make sure you're doing the things that you want to do and not just things you have to do. Right. Be the CEO of your own life. Never more important than right now. That's right. Well, thank you, gentlemen. First of all, everybody, Frank Holland has a show on CNBC at five o 'clock in the morning every day. And Investopedia is a website that I've been using for years and is a great resource, probably the top resource on the net when it comes to learning about different...

1:19:32It's all stuff that you can actually type in and it gives you detailed information. Up to date. Yeah, for sure. And they both have come to InvestFest. InvestFest alumni, they've done a variety of different things with us. Market Mondays alumni. Love InvestFest. We got to get John, man. We got to get him on the show. Let's do it. I mean, you guys need to connect. Absolutely. Thank you guys. Cause yeah, we talked about it before, but I said, I said, in my opinion, I think InvestFest this year, this is going to be the most important year because it's always important to get information, but it's even more important in times of crisis, the information and the relationships, those are the two most important things that's really going to propel you during times of crisis.

1:20:18So what's your guys' experience with InvestFest before we leave? Like what's your, cause you, you've both experienced it. So I'm just always interested to see how other people view it because it's kind of hard for me to view it because I'm on the out. I'm in like, you know, on the perimeter. So you guys inside of it, how is it? Well, I'll start. Excellent vibe. The energy is amazing. Everybody's there to learn. People are taking notes. They're listening. They're also engaging with each other. You know, it's just it's almost like a collegial environment. It's like you're on a college campus. Almost everybody feels comfortable to speak to each other, ask questions.

1:20:50I think the panels have been amazing. I really enjoy them. Not only the ones I moderated, but I just got to watch some of the other ones. I found it highly educational and I really would tell other people, you got to come at least for one day. You just got to come and experience it for one day. Spend the day there. Walk through the other area where you have people with booths and things like that. Marketplace, exactly. It's just a great experience. A lot of like minded people. If you're someone that wants to learn, grow, just grow yourself and also grow your wealth. Yeah, I'd say it's, you know, the greatest show in investing right now.

1:21:23And I mean that. And I go to a lot of these where you get high level speakers, really good conversation. You get into it. There's the educational part and there's the showtime part. And you do great at both of those things. But the best part for me is actually sitting in that booth area, in the marketplace area, just talking to people and having people come up and ask me questions about money and their own personal finances, make sure they're on the right track. Somebody will hear our conversation. They'll chime in. And all of a sudden, you got six, seven people I've never met in my life. I'm not even from Atlanta who want to talk and engage and help each other out.

1:21:55That spirit of generosity and reciprocity there is unbelievable. And it seems like it's totally organic. You guys just you created this amazing event. And people brought that with that energy with them when they came to it because you engendered that. And that's what you get out of that. And it's not like it's a thousand people. It's like, you know, thousands and thousands of people all feel on the same vibe. we appreciate you Caleb we must have the skateboard there with you this year please the board will be back now we appreciate you guys so much always always adding so much value extremely knowledgeable and thank you thank you so much thank you it's gonna be on the emergency tariff episode man good to be on with Frank Holland too it's a it's it's a crucial time in America right now.

1:22:44Appreciate y 'all, man. Earn your leisure, man. Hold your head. Thanks, y 'all. Keep doing what you do, man. People need you. Keep doing what you're doing. You're my guy. Frank, I'll give you a call, my brother. Appreciate you. I'll talk to y 'all soon, man. Thank you. Yes, sir. Okay. All right. Man. What did we learn today? That was a lot, man. That was a lot. But it's important, right? People, like I said, a lot of angst, a lot of uncertainty. I'm glad that the open conversation, people in the chat are even having their own conversations, but giving some type of education around what's happening.

1:23:18Because most people just hear the news and the news happens to them. They don't really know what's going on. So hopefully we got to debunk some things, give some clarity to some things, and people make investment decisions and make personal decisions about the information that they received tonight, man. And that's the power of relationships. We wasn't planning on doing an episode this week. Two phone calls, man. But within a couple of hours, we got episode. So we promoted on social media. We have good friends. So they came and we had 8 ,000 people on. So the relationship thing, I'm always going to talk about relationships because that's the key.

1:23:48That's the major key in life is relationships. So, yeah, it will probably get rockier. I'm not going to lie to you. I think that we in for this is going to be a rocky road. But there's opportunities in every crisis. Stay disciplined. Don't gamble. dollar cost average, good companies, index funds, state of course, put your plan together. Don't spend money unnecessarily. Invest in your education. This is it, man. This is it. This is it. Yeah. Somebody asked what my class is. My class will be shooting for the 17th of April. So EYLU, all earners. Our class is going to be April 17th for our options class it's going to be a good one i got i got some special special uh guests joining me so it's going to be dope make sure you all tune in real quick before you go okay there is a host hotel somebody asked that in the chat okay um if you go to investfest.com i believe the hotel information is on there yeah yeah uh i know it's uh the first the sign is the city is our host hotel and you get but you get a rate yeah you get the invest go to investfest.com all the information is there make sure y 'all get the percentage off on our website to the Signia, which is actually attached to the venue.

1:25:07It's right there. It doesn't get any better than that. But this is important. Don't just book the Signia on your own because you won't get the discounted rate. Go to InvestFed.com. Go to InvestFed.com and you'll get the discounted rate. Please. The hotel is literally attached to the convention center. Absolutely. That's the best place to stay. Yeah, that was one of the best improvements over the years of InvestFed, having that hotel attached to the actual venue. People wake up. They walk downstairs. on their lunch, they go back to their rooms, get a quick nap, come back downstairs, get ready for the evening, wake up, do the same thing in the morning.

1:25:38Shout out to everybody. Everybody putting that together for us. August 22nd to August 24th. That's a fact. And it's the Signia by Hilton. Yes. I was going to ask you before we go, there's supposed to be a decision here. Maybe there'll be a delay on the TikTok. Amazon put their bid in. Larry Ellison is the front runner. What's your thoughts? I heard the Amazon play is not getting taken seriously from the administration. Yeah. Larry Ellison, somebody that is very good with Trump. So, you know, I think that's going to happen. Caleb brought a good point as far as that they might be burning this down on purpose to make, to privatize everything and to help the people, strategic people around them that's extremely rich and get very more, get more richer.

1:26:19Yeah. So that would be one of those people, right? That would be a person who would directly benefit from this situation is somebody like Larry. Yes, he said more richer, more wealthy, same thing. look I don't think grammar is important at this point I'll be honest with you I think man we're on the verge of a global depression I don't think how you spell there I don't think it's going to matter I'll be honest with you there them those I don't think if you spell two with two O's or one O you can spell it with the letter the number two at this point just the number this shit is getting serious out here for you The punctuation is not going to matter.

1:27:01Blame it on chat, GPT. When a robot is doing everybody's job. Yeah. I predicted, I asked that because in our class, I was talking about Larry Ellison's relationship with Trump, but the fact that they already had a partnership with TikTok to run their data in 2020 during the pandemic, they already have relationships there with optimizing their information for their platform. The fact that Stargate and that announcement happened in early January, right around the inauguration, larry ellison has been popping up there's some signs there that that oracle is gonna be a heavy heavy player in that tick tock uh situation so that should happen i think on the fifth um so we'll see by malcolm mondays we'll know what happens either it gets delayed or it gets it gets bought it gets bought out but for one thing for sure yeah i knew that tick tock wasn't going away and it didn't go away to oracle like he said people love tick tock people love instagram Certain things, you could boycott Target, but Instagram's off limits.

1:28:00Hey, Ian, if you're still in the chat, man, we're going to have a conversation about Nike on Monday. Nike's screwed. They're in big trouble. Nike is really screwed. They're in big trouble. Market Mondays will be very interesting. Oh my gosh. Yeah. That'll be an interesting one for sure. We're going to have a conversation about that. Yeah. Falak, are you on the clock? You're next. You're next. you next keep your composure keep your composure trump yeah hell of a guy is trump you know there's there's a thing on tiktok now is like you know the running theme was that he's a good businessman so he'd be good for the economy is he really a good businessman though he's had like over 10 bankruptcies you gotta start the question he's a great marketer we can never take that away.

1:28:50That he is. He's a great marketer. But the businessman thing is up for question at this point. Because we really got to consider that. Because of the bankruptcies? I mean, just in general, he's run a lot of companies into the ground. He lost the election last time because of the economy. They've said they've never seen a president manufacture a recession in 80 days. This is pretty historic. He's manufactured. But that's why I feel like it's going to be, all right, here it is. Here's how I save the day. The here's how I save the day moment is coming. It's just about when it happens. Until he's not able to do it.

1:29:30Until he can't save the day. Until you can't save the day. No, he's propping this thing up. Sometimes you go too far. He's going really far. Not far enough, yeah. China said, I don't know what you're doing. I want to see what they say. China literally says, I don't know what you're doing. One of the premiers from Canada said, if they drop tariffs, us we'll drop them today they're like but you've had toes he's like we'll drop everything today let's let's do this it's it's a to say it's an interesting time is an understatement this is an unprecedented time like i said like we can't predict we can look at historical analytics right like i got this almanac here that that traces the history of the market for the past 90 years ain't nothing like this guy ain't nothing like this time we've never seen it this is this is going to be in the history books.

1:30:19We're living in it. DEI. This is the real DEI. A bunch of people that have no idea what they're doing. That's the real DEI. That's the crazy thing about it. This is the real DEI plan. You got a bunch of people that have no idea what they're doing that's just running them up. We should have had Cory Booker on here. Cory Booker spoke for 27 hours. I'm not sure what that accomplished. He literally spoke for 27 hours. I've seen people cheering him on like, yeah, this is the person we need to stand up for us 27 hours i don't know what speaking for 27 hours accomplishes i don't know i i don't know i maybe they can help me chat y 'all can help i'm not sure do you remember any of it like how do you retain how do you prepare for that number one they said he didn't even sit down they said i utter utter foolishness that's what that was that was utter foolishness Oh, man.

1:31:1427 hours. That's going to be a new song. The longest filibuster in history. Yeah, you're right. I'm just not sure what it does. Did he not have to go to the bathroom? Yeah, how does that happen? Like he had a diaper on? Yeah, probably. Probably. At least he got in the history books. Yeah. You can't stop at 24. he broke Schram Thurman's record what did that accomplish when he did it I'm not sure gained attention you're right he did gain attention we're talking about it he got a lot of attention for sure he said he had the Fenty in the system Coca-Cola that Coca-Cola chat yo wilder Coca-Cola it's the only way somebody could be awake for 24 hours he off those Addy pills man allegedly he is allegedly at adderall we gotta say a legend now we've seen allegedly a couple things have happened allegedly throwing our name out there allegedly everything's alleged this is entertainment purposes only yo uh be good to each other keep your seat belt on out here we will get through this we will get through this love is love man we love y 'all thank y 'all for tuning in.

1:32:34Thank y 'all for rocking with us. We'll see y 'all Monday. See y 'all Monday. Peace. Love. Take out the audio. This is going to be audio also. Yeah, run it back. An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS-13 gang member from El Salvador accused of murdering a Texas man. A Venezuelan charged with filming and selling child pornography in Michigan. These are just sum of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Kristi Noem, the United States Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over 100 ,000 illegal aliens have been arrested.

1:33:22If you are here illegally, you're next. You will be fined nearly $1 ,000 a day, imprisoned and deported. You will never return. But if you register using our CBP Home app and leave now, you could be allowed to return legally. Do what's right. Leave now. Under President Trump, America's laws, border, and families will be protected. Sponsored by the United States Department of Homeland Security. This is an iHeart Podcast. Guaranteed human.