#515 - We Became Finance Bros!

24:54Joe Santagato:hard to pay back the thing yeah and even even when there's no interest I think that's what happened with that company Klarna remember Klarna or not member I think they're still around now but I think they recently like said like we're in trouble because people are just not paying back you know how like when you go to check out it could say like you could pay in lump sum yeah or Or you could pay four interest-free payments of$120 through Klarna. Right. And apparently people with Klarna are just, like, not paying. Yeah. I mean. There actually is a term. It's called the pain of paying or the cashless effect is what they coined it as.

25:30The cashless effect.

25:31Joe Santagato:That's all I wanted to know. I got the cashless effect. I think doing that is, like, I think people would consider, like, Frankie math or, like, boy math or something like that. What the hell was that first one? Wait, what do you mean? Frankie math is legitimate. You know, it's like, oh, I didn't pay for this right now, so I didn't lose anything. Math. Like, that's Frankie math. Why are we calling this Frankie math? Because you were the one doing it. Who says I'm doing it? You said you were doing it. You did say that. When did I say that? You literally were like, what's the term? I want to know what I have.

25:57In terms of just the feeling of not, like, knowing the weight of your payments.

26:02Joe Santagato:You're talking about, like, I don't think I'm spending money if I'm just paying for it at a later date. I am spending the money. That's not Frankie math. Frankie's good at math. Frankie did great math It's just a thing The kids are saying These days Sorry guys I've I've no I know the term Girl math I've heard that term But he was Frankie And not a girl So I just called it Frankie Right Got it Frankie's good at math I'm kidding Yeah I got to calculus Four Bitch Differential equations Bitch

26:32Joe Santagato:But yeah I mean I'm not Be honest Will you be like A petty bitch And like Venmo the government like a penny why would i do that show them who's boss they're not gonna see it yeah they will nope how many people you think have actually venmoed the government i think probably a decent amount that think they're doing and like maybe some people have like a good interest in mind but like i'm not falling for this shit it's like you're not getting me bro i don't know what number ant could say if he's looking up how much they've paid that would even make me go like wow good for them because even in the grand scheme of things even if it's a million a hundred million dollars it doesn't mean anything because of the national debt no and also like fuck off like it's your debt why am i paying it i mean and i'm sure in theory they're gonna defend it as being ours because they were those decisions were made by the elected officials that we elected and you elected with your vote and your contribution is okay but we didn't bankrupt the country you did that that's right like fucking oh how is that our fault the numbers are a little tricky but what i'm getting is people have venmoed 2.7 million in gifts to pay the debt bananas dude i i have an idea that's also lower than i thought it would be no that's about where i thought it was honestly it the venmoing specifically it hasn't been around that long yeah it's been it's been like a week i'm just gonna say this i will get you a venmo account that you can venmo to to to get rid of some national debt um if the profile picture just happens to look like me whatever but you can venmo if we get to i think they said that account specifically said if we get to a million dollars do not rob our viewers you son of a bitch i'm not robbing anyone this is for the government dude you don't want to help the government you're hoodwinking you You don't want to be a patriot.

28:30Joe Santagato:A patriot. You don't want to, you know, this country has given you every single thing that you have. Everything that you have has come from, oh, see, this country and the people that have made it up. Can you see? So you owe a huge debt. Oh, you're doing background music. To the people that have made up this country. Early line. And the people that are in their position of power. But so proudly we held. so what I need you to do Joey is open up your checkbook at the twilight last gleaming is that you need to you need to stand proud chest up chin to the sky because the American people need your help and you could Venmo them at my Venmo and I'll help them I really would like to know what happens when we pay off the debt like what happens do we have a big party it's never going I'm letting you know it's never going to happen you're telling me we spent 38 trillion and like people can't afford to live so what if we pay off the 38 trillion we're trusting the same people to not put us back in the same like what do we what are you expecting to happen i didn't think we were if we if i knew we were going to get this intensely political i would have brought some fucking i just don't get it i just don't get what happens i mean you spent 38 trillion dollars well this is not just like today they spent it i'm aware of that but like you spent 38 trillion dollars and then like what like i know a lot of it is military spending and i mean we spend like triple the amount of anyone else like whoever's in second place i think china but like i'd love to hear those phone calls where they're just like hey china um 38 trillions of like i said it's a fairytale number like you're just spending shit that is made up and will never get paid back like they know it too yeah whatever people are doing to clarna is what our government is doing to whoever else we owe no one's paying that and no one cares joey's spitting facts like i said if i knew we were getting this intensely political i would have started writing down some smarter things to say some smarter things to say um you know what we do have some sponsors let's jump into that real quick which is now that's funny um but anyway uh we have zocdoc here zocdoc is a free app and website where you can search and compare high quality and network doctors and click instantly to book an appointment so this is what i was using before they were a sponsor of the show but um you know It's hard to figure out which doctors take your insurance, so ZocDoc makes that very easy.

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31:24And like I said, I've used this before. I still use it if I have to go to – I want to go see a dermatologist soon. I haven't been in like two years. But, you know, I'll use ZocDoc to find a dermatologist in my area so I can see who takes my insurance and go to them. And these are all also patient-reviewed. So you can see a score. So if they have a good score, you know you're going to a good doctor and people have good experiences with them. So, you know, go check it out. We also have BetterHelp. BetterHelp is the sponsor of this show. It is online therapy. I've said this many times before, but, you know, I've been in therapy for years now.

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32:53Joe Santagato:Yeah, that's a great idea. I have another great idea for you in a little bit of a different vein. It's called Patreon, folks. Patreon.com slash Basement Yard. Okay? Listen, whatever journey you're on, health, wealth, physical, emotional, mental, let the Basement Yard be a part of that. Okay? So go to Patreon.com slash the Basement Yard. You sign up today. You get these weekly episodes one week in advance, and then that second tier. You sign up for that second tier. You get exclusive episodes every single Friday. You can start in your week with the Basement Boys. All of our crazy shenanigans, our little fun stuff that we do.

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34:53Joe Santagato:it. Okay. And, uh, let's get back to this episode. All right. Now, now, uh, Josh, what you do is I'm going to go like this. And when I do that, just cut to Joey, but like put like a cool, like a graphic in between me, like doing that. So it looks like I threw the camera. You ready? All right. Back to the episode.

35:18Joe Santagato:Anyway, you had, you had something geared up, ready to go before he started the ad do you remember what it was or is it gone oh i was you i just refreshed my whole like it's gone on the economy it just brought everything back so you were now you were a finance major right yeah so am am it never goes away dude yeah it sticks with you it's what you are a finance well like i'm not now still like i'm not in school so i'm not still a criminal you have a degree though yeah but i like you were a finance major you got your degree in it semantics sure i get it okay what do you think about this do you think there's any reality that we ever get out of this national debt well the the debts attached to our treasury bonds our treasury bonds interest rates attached to the mortgage rate if that goes away i don't know everything kind of collapses so there's there's such thing as too little debt as well technically yeah i i mean i also don't think like Like, we're like, what?

36:16I didn't know that. I've never heard of that before in my entire life. I also don't think there's, like, an immediate reason to, like, pay off the debt. I don't think that does anything.

36:25Joe Santagato:So, wait. So, if we get completely out of our national debt, the country's financial system will basically collapse? We'll adjust, but yes. Technically, it would be a very scary time for a little bit. Well, why, though? See, that's what's fucking the cyclical nature of this bullshit. Now, I'm going to get political. Okay. is they want us to be afraid that's it that's all i got honestly we're running on interest that's crazy how everyone makes money i know it's still crazy no i know i mean it's a fucking that's why i'm saying it's a the thing is it's such a joke and honestly it's ballsy move to be like oh you can venmo to whatever it's like what are you asking like you're not even gonna pay this back clearly you guys have no interest in paying back the the trillions of dollars which is again a fucking made-up number now you're asking people in a country who don't have money to help pay off a number you have no interest in paying off what are we doing like that's literally just robbing the poor yeah it's insane yeah it's like tricking a like a like a homeless person to be like hey give me 10 cents because of you know whatever what are you doing are there any other countries that have i'm sure there are countries that have national debt as much as us are there any countries that are in the green where like they are just making like they have made more money than they have owed i honestly don't know the answer to that but i i i feel like i don't even know that it would be like beneficial for you to like not be in some sort of debt you have to be spending money and like upgrading your systems and infrastructure yeah but like spend the money you have that's that's what i'm confused about is like this is this is a level of like finance bro talk that is completely lost on me yeah Where it's like, I'm like, if you have the money, spend some of the money, have enough money to have left over.

38:16Joe Santagato:Not like spend it all. Your money is, you have negative amount of funds and it's all doing something. And it's like, that, and I'm dead serious when I say this. That makes no sense to me. Maybe it's because I just don't have the knowledge of it at the moment. But like, I just, I don't understand that. Yeah. I mean, it's confusing, but there's a lot of companies that just are not profitable. And that's, I guess, one of the reasons why I'm not a CEO of one of these major companies. Yeah. I mean, that's not the only reason.

38:55But debt is good in certain instances. There are people who, I've seen some guys online, they don't believe in debt, they don't

39:05Joe Santagato:but like sort of a hot take i understand like real estate okay because technically you don't have the money you don't but like for instance if i buy a house for five hundred thousand dollars and i only put 250 down in theory i'm in debt for that 250 yeah that would be insane i know i i yes it would i'm just using roundabout numbers to just help explain it a little bit better but like every you're paying into yourself you're not paying into getting the debt down so like what you're not like you're putting my you're basically putting money into a piggy bank okay with that house that's the only place i understand it where other people are just like i have no money in my bank accounts but i'm living lavishly and it's like so then how like you don't have the money like that i don't understand like how are people honestly yeah if you have 50 million dollars in bitcoin you don't have it in your hands how are you rich because you have it in an asset i get that but you don't have it to use right now so liquidity question yeah i think so see i don't even know what i'm asking i mean if you have if you only have assets like people aren't living off of that you need to have it in some way or you can go and get a loan for that and like take money out on your money which is something that you can do, but you would pay an interest on that as well.

40:29You could put your assets up for collateral and get a loan. Yeah. So it's like, I have an asset. So you can go...

40:35Joe Santagato:But then you're a double debt. Because if you now... Now you have a loan, but you're putting your assets up to get a loan. So now you still don't have the money and now you have a loan. So now it's double debt. No. Double do. Well, that's how you're using it as money. Yeah. Still doesn't make sense to me. But like, think about this, right? You guys, guys, you're trying to explain this to me and I don't have the capacity for it. Well, I'm just saying, like if you have an asset, right, that's a million dollars, but you have no cash, you can go and be like, I have a million dollar asset that, so give me a million dollars cash.

41:08So they'll say, okay, because if you can't pay back that a million dollars by whatever, you know, terms, they'll just take your house as collateral because they'll get the million. But then you have nothing. Huh? But then you have nothing. Right. I mean, you're banking on that not happening, but like you can have the house and you can have the million dollars cash.

41:25Joe Santagato:this all seems pretty stupid and uh i think obviously we can go back and we can blame alexander hamilton because he was the founder basically and and and constructor is that a word constructor constructor it is a word right or what are you asking he's the one that made the financial system like our country's financial creator yeah that it he constructed it he We constructed our country's financial system. So like, I just, hey, Alexander Hamilton or any of your descendants that are listening. First of all, see the show. It's pretty good. So I've heard, I've never seen it. Like in person, I've watched it.

42:04Joe Santagato:Do you have any debt? No. I got the house. Oh, yeah. Some cars. Some cars. I mean, we have two cars. I know, I know. The way you said it, I was like, we got some cars. We got six cars, no big deal. But I stand by, like, I'm, I would be the type of person that'd be like, how much is this car? Here's the full amount. Now I know it might be a stupid financial thing to do, but it just feels like the smarter of the two options. Well, you also understand, so like with the, with the stock market as well, if you take money and you, let's say your, your house, you're like, I'm just going to pay for this house in cash.

42:39Right. And let's say the house is a million dollars. So you're like, I'm just going to pay a million dollars cash. And you have like, I don't know,$1.5 million. Right. So you're like, I'm just going to pay for the house in cash. Now you have$500 ,000 in your bank account and this house is completely paid off. You can get a mortgage, which isn't bad. It's debt technically, but if you still have a down payment on a million dollar house, it's like 200 grand or 250, something like that. It's 20 or 25%. You can have, what did I say? 1.5. So you'd have$750 ,000, right you could instead of putting the house and having it paid off and only having 500 you can put 700 into the market which will make money oh i could technically pay for your house i get that

43:25Joe Santagato:i get that but if i pay the million in my house right now that's a million it's paid okay if i wait put money in the market the interest that it accrues i'm going to be paying more than a million dollars right so like just pay the million now but the the idea let's make this an even like smaller number so i don't fucking bash my head against the desk a hundred dollars yep pay a hundred dollars now or pay fifty dollars with a five percent interest rate and have to pay whatever the difference is at a later point which will be more than the hundred dollars would have been up front. The idea is that if you get a 30 year mortgage, which most people do, you will make more money if you have more cash in the market.

44:16Historically, that is the case.

44:17Joe Santagato:Yes. Historically. I think it's stupid though. But you would have more money. How's that done? Because I'd rather pay the money right now if I have the ability to pay it and then just whatever money I have left over, let that do its trick. Right. Instead of putting more into the market because then I have to pay for this thing over here. What's this thing? The house. Yeah. I don't like that. But you would still have the money. You still have the million dollar house because let's say you put the million dollars down and it's like, that's a million dollars. Boom, you're done. Also, you know what grows significantly more than the stock market?

44:54Joe Santagato:Real estate market, baby. I mean, that's not always true. I mean, over the last couple of years, it has been. yeah but you could have both i don't want to have my cake and eat it too i want to have a cake that i can look at and really appreciate okay but but you're but this is what i'm saying like if you put 250 into the house or the million you if you turn around in a year and sell it you get the same amount you get the same amount no because the house will be more expensive in a year exactly but you would that would still be the end amount like the bank would just get more of the money but whatever you would make on it, it would be the same.

45:32Joe Santagato:I guess I operate in the mentality of like, I have the money now, pay for the thing now, and then whatever happens in the future, it's an added bonus. Right. It's a risk-adverse mentality. I don't like risk is. It's fair, I guess. I don't like risk is. It's like not a risk, though. I mean, it's a very short-term risk. It's not a long-term risk. It is a risk by definition, but in execution, it has proved to not be a risk. okay but if it's never a risk in the long term but it is technically still a risk okay that's why like a lot of billionaires you're like oh you have a mortgage why don't you just buy the house because they just don't like their money tied up they could put it elsewhere and it could make money and it could just that makes sense when you're a billionaire no but i'm saying like no but anybody i mean on a smaller scale it still makes sense it listen i am fully acknowledging that I like I know this stuff we've talked about this extensively like I just bought a house like I get I get all this I just think it's stupid I mean I mean I just think it but you're getting free money for having money I think it's stupid that I need to like that it needs to be this complicated to understand and that is about so much of our country right now oh say there is so much can you see that the normal people in our country hard-working men and women that need to put themselves they can't just go about their lives and understand something they need these advanced degrees and technicalities and blah blah blah what's so proud that's why i'm like saying why can't we just be a simple country that loves its people joey because what you're but but i think that it's important to like say this because i do think that investing is an important thing for people to do.

47:20And unfortunately, if you, I was lucky that I had a brother who was in finance and kind of explained these things to me. And I, I got like, you know, I was able to learn like that, but a lot of people go a lot of their life, you know, especially in this country, not making enough to even be able to invest. And that's like a luxury to be in a position to be able to do that. But if you have the money and you can invest, like it's an important thing because even if you don't, most people don't have the amount of cash to make a down payment on a sizable house. But if you're investing your money, like little by little over time, that is very helpful in the future.

47:55Instead of just tying up all your money into like, uh, one asset that could potentially like that to me sounds like a risk. If there is a crash, I think it's important to invest. Fully agree.

48:09Joe Santagato:Fully agree. You know, I invest like, you know, like I am on board with that. And I fully like, I hope that people, if they do get that luxury, do that i and i'm tying this back to what i said originally it is kind of fucking evil that like the way it is designed now is like no don't put your money in the bank where it can gain interest because the bank does better and you do better put it in this thing this cloud where we can play with it and we can have some of it and we'll give you some too if it does well i mean i don't think that's evil. I think it's evil to make people feel like, keep your money in the bank because you don't make interest.

48:49Joe Santagato:But it used to be that way. That's what I'm saying. It used to interest rate, like interest bearing savings accounts back in the day used to have like high yield interest rates. Yeah. I'm saying like now they're not because, and there, there have been economists that have said it's been because of the growth, consistent and massive growth of the stock market that people have, that, that banks in, you know, they have stopped giving high interest bearing savings accounts because they want you to put your money in this other thing. I think that's a little, in my opinion, a little predatory. Sure, they might make some money doing it, but I don't know.

49:26Joe Santagato:It feels like instead of having the money that you've earned and like keep it in this thing where it's safe and it'll make money, go put it in a risky thing where it could make money, but also it could lose some money. I just, I don't, I don't, that, that to me is a little freaky. you're so you're well you're positioning yourself by saying like don't invest no i'm saying i think it's i think that's the way it is it's responsible now to invest like that is a responsible financial decision that you should make if you get the opportunity to i just think that the idea of like saying we're not like basically devaluing interest bearing savings accounts and and overvaluing the risk because even though you say it's not a risk it is still a risk of putting your money in the market i think that's a little in doing that you're also like adding an extra like unfair education barrier that someone has like nowhere to put their money instead of just an easy bingo bang again i get that yeah but like if you're like fortunate enough to know these things like yeah but guess what you need to be on top of working fucking super hard you know like let's look at like middle america like working class and on top of working hard to make the money then they need to educate themselves on this stuff then they need to or they pay for someone to do that for them yeah you pay like a like a brokerage fee yeah like that's that's a lot you know and i i think that i mean in the in the grand scheme of things giving one percent to a financial advisor and potentially making six to ten percent a year is worth it it's more money than you would have had i fully agree i'm just saying that having it got to that point from where it came from where people used to be able to take the money that they earned and let it make its own money by sitting in an interest-bearing savings account i just think like i mean there is you can do bonds and they're like a guaranteed four percent or some shit like cd cd accounts and stuff like that like there are ways that you can do that and those are technically the market and you know what those are tied to the national debt motherfucker bro can't get rid of it and they ain't going nowhere also some people just trying to buy some cheerios you know that's what i'm saying just trying to buy cheerios just trying frosted flakes hell yeah frosted flakes i had the saddest bowl of frosted flakes the other day sad you were there oh yeah it was such a just a limp dick bowl of frosted flakes bro this hotel had a bet they're like oh breakfast in the morning we went downstairs frank was already there and he looked miserable he was the only one in the place and then it was uh two pots of coffee then there was a carafe of hot water a carafe of hot water and some tea then there was uh the hardest bagels i've ever seen in my entire life there was some cups of oatmeal and then a small fridge that had frozen like egg sandwiches i was like i'm not eating you're also bearing the lead here there were three things of cereal dispensers oh right which it was i actually gotta say the cereal choices weren't bad frosted flakes apple jacks and a raisin bran crunch which greg put in a cup and ate dry which crazy and then a bowl of green apples not red apples and you would think the other fruit that they would have would be bananas right it was like green oranges they were very unripe oh i was like what but yeah it was it was it was kind of fucked, but, you know, it is what it is.

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55:18That is hungryroot.com slash basement and the code is basement to get 40 % off of your first box and a free item of your choice for life. Hungryroot.com slash basement. Code is basement, folks. There you go. this has been a long episode about finance huh yeah oh i know i see that joe is going to be a

55:39Joe Santagato:finance i mean we're the finance bros that's what i think the title of this episode needs to be right the finance bros we're finance bros we're finance bros we're finance bros and it's like you as gordon gecko like smelling the money i know that name but i don't know how that is From the movie Wall Street, played by Michael Douglas. Oh. And then me as Jordan Belfort. Hmm. Could have picked anyone else. It's the only two finance bros I could think of. Who else is a finance bro? Amp, apparently. Damn. I know nothing. Did you ever have one of those shirts that it's like the collar is a different color than the rest of the shirt?

56:20Joe Santagato:You know what I'm talking about? Like those button-up shirts? No. It'll be like blue and white pinstripes, and then the collar is just solid white, and they're just like, oh my God, I got to get back to the office. I got trade, trade, trade today. Frankie, I'm here with you. Yeah. Have you ever like want to go and be like a Wall Street trader? I tried. Well, I went through the interview process and I was like, oh God. Is it like from what? You were trying to be a trader? Well, I didn't like that, but yeah, trader. You're trying to be a trader, huh? No, I wasn't saying like treason. I was saying like.

56:53Well, yeah, essentially financial analyst.

56:55Joe Santagato:Got it. Oh, so you were trying to analyze the finances. It's got to slip in there somewhere. Yeah. So it was right there. You know how it goes. So like, did you know anyone? Do you know anyone that has done it? A couple of my friends like from there, but. I imagine it's like, oh, it's the 2020s now. So it's not as intense. But like in like the early 2000s, it was like what was on like Wolf of Wall Street, where it was just like drugs and fucking steaks at noon and. Martinis. Martinis. and then trade, trade, trade, trade. Escort, escort, escort. I imagine that's what it was like. Yeah, I mean, I think that it's still some of those things probably.

57:35Steaks and martinis in the middle of the day. You ever go to Capitol Grill at like 2 p.m.? Fucking filled with dudes with vests. I've never been to Capitol Grill.

57:43Joe Santagato:The Midtown uniform, as I've heard it's been referred to as. It's like the long-sleeved shirt rolled up with the Patagonia vest. Yeah. You know? Yeah. Not for me. I did like getting dressed up though. So you liked getting dressed up for work? Yeah. What job are you referring to? Any job I had. I liked, like, except for this one, I guess I would target. I would wear a collared shirt. The red one. Yeah. Red collared shirt. You like a uniform? Oh, kind of. It honestly makes things a little bit easier. Like I, I, I used to be one of those people who was just like, it's so restrictive, but like if I worked somewhere and it was like, like, yo, you have to wear this every day.

58:25Joe Santagato:It would kind of be nice. So you would, like, enjoy, like, a Catholic high school? Maybe in my, like, older age, yeah. Yeah? Like, if I was, like, my current age. In high school? That's a weird thing. I mean, like, just, like, the idea of, like, you don't need to wake up and be, like, scrambled for, like, figuring out what to wear. Not that I do that now, but, like, I could see, like, people that wake up and they're like, oh, fuck, I need to be in work today at 9 a.m. And they're like, what do I wear? Honestly, my high school, it was a pretty good deal. It was a Catholic high school with a uniform, but they gave you a bunch of options, and it was just a polo.

59:08If I had to do a fucking tie every day, my God. It was a blue polo. It was blue. It was black. SFP. The red SFP. Which shirt did you always wear?

59:19Joe Santagato:Blue. Navy. The Navy. There were white ones too, right? There was white. I never wore white. No one wore white. Oh, shit. Okay. Sorry, guys. No one wore the white one. His senior year, he was allowed to wear hoodies and stuff. Yeah. It got rid of that right away. Really? I think they ruined it. Well, I remember because I dated a girl that was in our grade at your school, and they took away girls' ability to wear skirts. Yeah, they got rid of skirts because they said girls were making them too short, so now the girls were in pants. They were in khaki pants and slacks. Yeah, and the same things that we would wear.

59:49Literally. We had the same uniform.

59:50Joe Santagato:Yeah, that's right. I remember that. But you had options. So you had different colored pants, different colored shirts. Could you wear any shoes that you wanted or did it have to be like loafers? They had to be black. Oh, so like people could show up in like black Jordans or something. I don't, could they? As long as they were all black. Yeah. You could wear any shoes. No like red streak through it or something like that. I think if it was like slight, then maybe you'd get away with it depending on what year you were. And then what happened? Would you get detention? They would, what would they do?

1:00:17Written up. Yeah. Warning, detentions. It depends. It depends what mood they were in, honestly. Yeah. Sometimes... Did you guys have the dude who had the fucking radio? Yeah. Yeah, that guy. What the fuck was his name? Oh, I don't know. I didn't know any of their names.

1:00:30Joe Santagato:The only thing I really remember was we weren't allowed to wear hats in school. Yeah, you can't wear hats. Yeah, I mean, yeah. I mean, you can't. Can I ask you a serious question, though? Why? Would you wear a hat in a restaurant? Yeah. Like a nice restaurant, you'd wear a hat? A nice restaurant, no. But why? It was a school. It was Bryant High School. Why would you not? Who the hell is attributing Bryant High School to a fucking three-star Michelin restaurant? But it's the same. That's the reason. Like, for whatever reason, people have decided, like, wearing hats in places. Dude, there were people fucking sucking each other off in the stairwell.

1:01:04Joe Santagato:I can't wear a hat. I agree. Oh, no. I'm offending you by showing my, you know, affiliation with the New York Yankees fan base. but fucking, you know, Stephanie and Marcelo are in the corner and they're playing jerk-off with each other. I'm the issue? Playing jerk-off. Yeah, I think it's just like they're trying to keep it, like, I don't know. Because all the, you know what it was. People have a generation, too, like everywhere they take their hat off, like when they walk into a place. Even if they're hopping into a coffee shop real quick, take their hat off. That's such a, like, 1940s, yeah, because they wore their rain hat and they'd be like, yeah, you know, and it's like, dude, just, it's okay.

1:01:46Joe Santagato:I'm not offended by you wearing a hat here. It is a strange thing to have started. Some people like making rules just so people follow them. Yeah, that's exactly what it is. Cause there's no reason that a hat offends anybody unless the hat says like suck me twice on a 14th Wednesday or something like what could that possibly mean? I don't know, but you know what I'm saying? I think it was more, it wasn't offensive. It was more of like, it's the gentlemanly thing to do. Yeah. To remove your hat? Yeah, I guess. I mean, we're doing it like when you do the, before sports games, like you take your hat off.

1:02:21Yeah.

1:02:24Joe Santagato:I don't, I don't take your hat off. I do take it off every single time. Yeah. I don't get it. Yeah. It's just something we've kind of decided. Like, it's just a weird thing to say is like a sign of respect. Yeah. it's just a weird thing to be like i mean everything is kind of weird when you think about it like shaking hands is a sign of respect it's like why did we pick that it could have been anything else i agree i mean you know the japanese do the bow the bow i feel like it's way more respectful than shaking a hand i i want to like i i mean am i allowed to bow that's a great question if i probably have to bow when you're in japan if i if if i were to be in that setting i'm bowing you gotta bow i'm bowing because i'm not going to be the guy that does the dirty american handshake thing dirty american handshake i i think bowing hopefully that makes its way i get so amped when i see like two japanese baseball players that like respect each other so much and they have like a bow off they go back and forth they're just like oh my god like i'm so and i'm just i like i love seeing that sign of respect from that that i like yeah you know i don't care about our signs of respect how do you feel about handshakes they're fine needless needless yeah i think there should be some sort of touch do you like when you feel a handshake a new person like damn i messed that up no i've never messed up a handshake i will say some dudes get a little crazy with the handshakes when you're gonna squeeze my hand as hard as you want because you think you're like i'm so mad like you're a loser i'm sorry just shake my hand that's not me no that's not me at all i i am a very like no no no that's not me i'm i'm all business with a handshake hey how you doing and that's it but like the people that do like the yeah like they roll like your like knuckles like i'm not i mean that obviously is like those people should be shot but like it's people like who just go in it's like they're making it a point it's like oh real firm i also think that the dead hand is like ridiculous also but dead hand is is this the worst one i've ever gotten is this i've had people do that where i go to shake their hand and they go like that and i like shake this who like men or women men men go yeah i call them the squids squids yeah i have a i have a i have a cute little slur for them yeah right i don't know that i would even shake that i'd be like what are you doing am i supposed to kiss this thing you might you know what next person or if anyone ever does that you do that kiss it i'm good i'm not kissing people's hands i wouldn't even put my hands in my mouth there was a time like a plumber came through the house and we shook hands and mine like he caught here and it was like this oh no we got to do it again oh you said yeah we got you got to restart yeah we got to do it again yeah dude the worst is when you go in for like a handshake and they're going bump and then you guys switch at the same time i'm like oh my god yeah it's uncomfortable and also like if you see me approaching with one of these like a side bump don't go for handshake that happened to me recently i forgot where we were i think it was at one of the shows like one of the backstage guys i was just like hey nice to meet you and he went for a handshake and i was up here yeah but you see i'm coming in for side you got your shield up i got my shield up for side bump yeah you know don't don't like anticipate bumps kind of crazy it's not a baseball game i side bump often i mean what's going on about i I go like this.

1:05:46Joe Santagato:No, because that invites – because this is where you're going. They're thinking handshake or they're thinking you can't mistake a side bump. I mean, it's all about distance. If I'm far away – You bump hands like this? I can get them like, yo, analyze my hand and realize what's about to happen right now. You know what I mean? I've definitely grabbed a fist before and shook that. Oh, I've shaken a fist. That's happened. Yeah, yeah, yeah, 100%. Yeah, and I just like – at that point, you just got to own it. Like, I meant to do that. It is what it is. Sometimes you got – like, I think you need to make it as clear as possible.

1:06:15Joe Santagato:If you come up here for side bump, less room for confusion and ambiguity. Everything is good. What's your favorite way to greet? New person? Both. Handshake, new person. I like the... You like the dap. Love the dap. You're a good dapper. How do you guys feel about the Italian double kiss? Double kiss is crazy. I don't even know if I'm normal kissing people that are not my family. I'm not really kissing people. I'm literally putting my ear on their cheek and going out into the wind. I'm not kissing you. Yes. I mean, there have been times where I will, like, full-on kiss. Yeah, but that's, like, for a very small percentage of people.

1:06:53If it's anyone under, like, 50 currently, you're trying too hard. It's like, bro, we don't need a double kiss. This was gone a while ago.

1:07:01Joe Santagato:Yeah, double kiss is a relic of the past. I agree. Also, bro, if I walk into a group of my friends and there's, like, eight of them, I'm not dapping everybody up, bro. I'm just saying hi. This is crazy. We've got to dap up eight people. I disagree. Everyone gets a little bit. Nah, that's why. That's way too many people. But, like, each person is going to get 100. Like, I have 100 % of dap willing to give. If there's five people there, they're getting 20 % of a dap each. Like, I'm not going full 100. If it's one person and I see you, you'll get 100 % of the hello. Hug, backslap, you know, whatever.

1:07:36Joe Santagato:But if there's five people, they all get 20%. You have to limit. you have to limit the energy of your daps i'm i'm four is where i draw the line i'll dap up four people five people i'm just saying hi to the group i think and i definitely don't want to say bye that's insane god forbid what about you i think that's a fair take but yeah more than five like everybody yeah like oh what's up guys yeah oh party's here yeah i'll also like i'll do it if someone initiates like daps i'm like damn now i'm in the dap train but like i won't i won't initiate it because it's like yo there's a big group up the whole place i'm gonna next time we're amongst a group of people like that i'm i will be the dap initiator if you walk in and you're gonna you're gonna be stuck dapping everyone up yeah it's just like it's completely i think it's the right thing to do but again it's only why are you offended by that now we're talking about things where you're offended by the hat is where you draw the line no i'm not personally offended i don't you don't want to you don't want to dap me up i'm fine with that but i'm saying i like to dap people up because I like to just say hi.

1:08:36Joe Santagato:Like, that's just my way. Oh, yo, what's up, babe? Oh, how you, oh, oh. Like, if I'm at a place where there's multiple people, but they're not all standing next to each other, I'll dap up everybody. But I'm not, if there's a group of five people that I walk up to, chill. I say, I say hi and bye to every single one of them. It's just a thing I do. And I'm not saying that you're wrong for not doing it. But now that I know that you could be pressured into it. I mean, do you give the same to everybody? Do you do your what's up, baby? You do the same and everything yeah what's up babe how you doing to everybody what's up oh yo maybe we should adapt more of baseball like but if i'm coming into the place everyone put their hands up and i'll walk in and go like this you know what i mean let's get this shit over like you just hit a home run yeah just like let's get i don't mind that i don't mind that i'm kind of on board with it i'll be honest i'm not participating in that what now i gotta participate in his entrance if it's your birthday sure no i'm saying like if as a society we decided to do that like i think it would be easier let's get in and out of these fucking highs or sorry i was yawning bedtime or walk in and just be prepped with a with a pre-fab fist fist you know just like you pre-fab your fist you walk in yo down the line you know fist all your friends just keep it up though keep it up and in view and make sure everyone sees that you're doing fist so everyone's ready for the fist Yeah, yeah.

1:09:58Frankie loves the ghost wieners. Loves them. What? Oh, he's saying you're joking about ghosts. Classy. Fucking, be mature. Ant. You know what? Good lord. Written up. Detention.

1:10:12Joe Santagato:Now what? Alright. Did you have to, like, do your hair? Because you guys went to the same Catholic high school. Did you have to, like, do it coiffed? No. Some kid, his barber messed him up and gave him a zero around the sides. And they said, you can't come in tomorrow. Like, it looks too ridiculous. What? Yeah. That's the easiest way to get out of school ever. Just give me a skin fade. Yeah, it's like, I guess, I don't know. That was weird for everybody. We were like, yo, what are we doing? Yeah, I've never heard of that. They didn't believe him that it wasn't like he was messing around. Did you ever do detention at prep?

1:10:43No, I never got caught. I did. Such a good boy. I forgot why I did detention. I don't know if it was. Oh, I know why. But it was only one time. And it's like you literally just sit in a class. what did you what did i had a teacher who that i had freshman year and he he didn't like me but i should have went to summer school but he passed me but he like gave me the extra two points so i didn't because passing in that school was 75 and i had like a 73 it was like science but my next year my first day i walked into my class and it was him again and i was like oh god and he had the same reaction and there was a day where he like handed out worksheets and i was sitting down and I was filling out the worksheet and he like started the lesson and then he like was asking a question and then purposely called on me because he sees me with my head down and I was like oh I'm sorry I don't know the answer I was working on the worksheet and he was just like get out and I was like whoa what and he's like get out of my classroom and I'm like dude I was like I was doing the worksheet I'm sorry I wasn't listening out because I'm doing like work I'm not like on my phone or something and he's like get out and I was like all right so I leave and when I get to the hallway he slams the door behind me like insanely hard like slams it and i opened the door and i was like relax and i shut it behind me oh you knew what you were doing i mean i was like i was like

1:12:05Joe Santagato:chill the fuck you knew what you were doing with the relax no no no yeah no that i was just like chill like the fuck you open the door relax calm down chill out take it easy and shut the door i was just like yo chill i didn't say i said i said relax and i shut the door and he was very pissed which I get that I get why I was in detention but like throwing me out I was looking at the worksheet for god's sakes I was working high school man we became boys though when I before I left my senior year I had my uh yearbook and I walked into his classroom because you know like seniors at the end it's like class is still going on for everyone else no one cares yeah so I had my yearbook and I was like yo you gotta sign this and he's like I'm in the middle of the club I was like yeah I just put it on his desk and he signed it he was cool and you guys kissed yeah yeah yeah Yeah, we kissed and it was a fun time.

1:12:51But anyway, hope you guys learned a lot about finance this episode. Yeah, I guess.

1:12:57Joe Santagato:We're finance bros. That's the title. A little change of pace is nice every now and then. Yeah, every now and then you're like a little bit of this, a little bit of that. Yeah. You know? It's a good octave that you're at now.

1:13:13Joe Santagato:I can't do it anymore. Yeah, you ruined it. It's all right. I'm just going to be upset for the rest of the day now. Where can they find you, Frank? Well, there you have it, folks. Thank you so much for watching. Don't forget to hit the Patreon, patreon.com slash TheBaseMeYard. Also, if you're coming to a live show, go to TheBaseMeYard.com slash submit. Let us know what show you're coming to and write in some stuff. This portion of the shows that we've had has been so awesome and fun. Interacting with everyone in the crowd has been really cool. And it makes for some funny moments. So keep submitting.

1:13:47it helps for sure and yeah that is all see you guys next time

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