November 21, 2025 • 42 mins
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What If I told you a company is valued higher than the companies that make it valuable? We'll discuss this with Zach Abraham.https://rumble.com/v720bwg-episode-2456-valuing-a-glass-without-the-water-ft.-zach-abraham.html
Episode links:
Join the Angel Guild today where you can stream Thank You, Dr. Fauci and be part of the conversation demanding truth and accountability.
Renue Healthcare https://Renue.Healthcare/Todd
Your journey to a better life starts at Renue Healthcare. Visit https://Renue.Healthcare/Todd
Bulwark Capital https://KnowYourRiskPodcast.com
Be confident in your portfolio with Bulwark! Schedule your free Know Your Risk Portfolio review. Go to KnowYourRiskPodcast.com today.
Alan’s Soaps https://www.AlansArtisanSoaps.com
Use coupon code TODD to save an additional 10% off the bundle price.
Bonefrog https://BonefrogCoffee.com/Todd
The new GOLDEN AGE is here! Use code TODD at checkout to receive 10% off your first purchase and 15% on subscriptions.
LISTEN and SUBSCRIBE at:
The Todd Herman Show - Podcast - Apple Podcasts
The Todd Herman Show | Podcast on Spotify
WATCH and SUBSCRIBE at:
Todd Herman - The Todd Herman Show - YouTube
What If I told you a company is valued higher than the companies that make it valuable? We'll discuss this with Zach Abraham.https://rumble.com/v720bwg-episode-2456-valuing-a-glass-without-the-water-ft.-zach-abraham.html
Episode links:
- @POTUS: "We slashed more than $1 trillion worth of regulations, burdens on the U.S. economy... Combining our regulatory and tax cuts, we've reduced the effective burden on franchisees by more than 37%."
- Nvidia is now valued at nearly three times the entire energy sector. Almost three times. And no, it doesn’t generate more profit than energy companies in the S&P 500. In fact, the combined free cash flow of this sector over the last year is about 20% higher than Nvidia’s. Tech innovation is incredible — but let’s not forget that something still has to power it. - Otavio (Tavi) Costa
- Gene-Editing Human Embryos: A Doomed Technological Catastrophe; Epidemiologist Nicolas Hulscher on Real America's Voice (Stinchfield Tonight)
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
What if one company was valued more than every other
company that they need to exist. Let me say that
this way. What if Company A was valued four times
as much as all the other companies it needs to exist.
It would be like valuing a glass more than the
(00:20):
water that goes in it. We'll talk about this with
the help of Zach Abraham, chief investment Officer, Borward Capital Management,
and God Almighty.
Speaker 2 (00:30):
But Todd Herman shows one percent disapproved by big pharma
technocrats in tyrans everywhere from the high mountains of Free America.
Here's the Emerald city exile Todd Herman.
Speaker 1 (00:52):
Today is the day the Lord has made, and these
are the times to which God has decided we shall
live in. Zach Abraham, my friend, my brother and best officer,
board Captain Managine joined just live from the West coast,
but not Seattle, nowhere near that stink and socialist Zach,
welcome back.
Speaker 3 (01:09):
The chair is against the wall. The chair is against them.
You know what I'm talking about, right?
Speaker 1 (01:14):
I do?
Speaker 4 (01:15):
Remember that read don They're putting out the every Every
once in a while, I start talking to somebody somewhere
else in the country, I'm like, man, I gotta speak
in code here because you know, you never know who's
listening on the other end, dear leader here in Washington,
he could be gunning for me.
Speaker 3 (01:29):
Do you know you've.
Speaker 1 (01:30):
Been talking about You and I were talking offline about
these socialist candidates in Seattle. You don't live in Seattle.
Do you know? Legit, she's never held a ping job.
Do you know what her big Crickham Vittau statement is?
Do you know the organization she ran?
Speaker 2 (01:48):
Do you know?
Speaker 3 (01:48):
But somehow I know this story is about to get better?
Speaker 1 (01:51):
So but you do I do. It's called the Transit
the Transit Writers Union.
Speaker 3 (02:00):
Let me let me take a stab.
Speaker 4 (02:01):
I can't take a stab at what the criteria is
that you must meet in order to qualify for this
prestigious Uh.
Speaker 3 (02:11):
Well, I don't know what you'd call this prestigious group,
this prestigious murder, you know, like a yeah, maybe maybe
it's that you just have to be able to ride
public transit.
Speaker 1 (02:24):
You nailed it in one of some of the accomplishments.
All right, let's go through some of the things that
that group has accomplished. They stole Fourth Avenue in downtown
Seattle for buses only. Yeah, so they got that. Uh,
they Crain, huge win. They created the confusing bike lane thing,
uh in concert with the urbanists, where you can no
longer park next to the curb, where the cars park
(02:47):
away from the curb. Then there's the bike lane, then
there's the walking lane. They did those things. There's some
of the people who succeeded in no free right turns
on red lights so that that thing is gone, so
that traffic is further backed up. They seize lanes of
freeways from cars and gave them to buses. No job,
her husband doesn't work, but she's not the mayor Seattle.
It's perfect, you know.
Speaker 4 (03:09):
And this is what I was saying to you off
the air, is I actually think it's a good thing,
you know, like, yeah, remember the original Batman or not
the original of course, but it was Michael Keaton and
Jack Nicholson, remember yeah, Or that was that one scene
in there where he gets all mad.
Speaker 3 (03:28):
He's Bruce Wayne. He's like, you want to get nuts,
Let's get nuts.
Speaker 4 (03:31):
That's kind of what I'm saying to Seattle, Like, hey,
let's not go halfway, Let's.
Speaker 3 (03:34):
Go full filled into the deep end.
Speaker 4 (03:38):
Let's not get half pregnant, Let's get nuts. Let's go
protest as an elected mayor. Let's go protest one of
the largest employers in the city that is currently paying
everybody in the city more than twenty dollars an hour
to pour coffee and if they apply, will help pay
their college.
Speaker 3 (03:57):
But you're gonna go protest them. And I actually love it.
Speaker 4 (04:01):
And you know why I love it because the idiots
that have run companies like Starbucks have given their tasks
and approval.
Speaker 3 (04:07):
To this moronic version of management for.
Speaker 4 (04:10):
Cities since they've been since since their inception, and now
the beast that they've fed for thirty years.
Speaker 3 (04:17):
Is finally biting them back.
Speaker 1 (04:18):
I love it all.
Speaker 5 (04:19):
Todd.
Speaker 4 (04:20):
Let them eat cake if they want to hire an
idiot know nothing to run a city that is falling
down around itself. Good, you know, like it's one step
closer to the come up. And said, these idiots.
Speaker 1 (04:31):
Need total degree. And I've said before, get out of
her way. Republicans don't fight back. Conservatives don't fight back.
Sit down and say, hey, you elected her, Let her
do exactly what she wants. And in six months, right,
you're gonna have people coming back going how did you
get this bad? And what they don't get to say
is Oh, it was conservative trying to slow us down.
We didn't get to we don't have enough control. Nope,
(04:53):
give her everything she asks for and let the let
the results speak for themselves.
Speaker 3 (04:59):
Yeah, hey, guys, we're going to be at the capitol grill. Uh,
give us a call when you when you want to,
when you want to deal.
Speaker 1 (05:06):
With these issues exactly, but literally, but.
Speaker 3 (05:08):
Just stand by and just say let it burn, man.
Speaker 4 (05:12):
I I mean it, just like I said, it's not
even political, right like you and and and the left.
Speaker 2 (05:22):
You know what.
Speaker 4 (05:22):
I'm not going to tell the left what they need
to do, but but literally you want to look at
them and go you guys, realize these policies are more
damaging to you than anybody else. I mean, you fry
us all in the process. But this is why I
said it's not in political. Look, I know Seattle's not
going to elect a Rudy Giuliani to run itself.
Speaker 3 (05:40):
I guarantee you.
Speaker 4 (05:41):
You've got people who are self described progressives that are
far more competent and have the ability to run a
city way better than the people that you're putting up there.
Speaker 3 (05:49):
Elect one of them. I'm not right.
Speaker 4 (05:51):
I'm not even saying that you need to elect you know,
our version of Trump elect. Hey, if you want to
make coffee for people, it's always a good idea to
hire somebody that's done it before.
Speaker 1 (06:03):
Exactly right, and to see her out protesting. I hope
this is a time that there is a tiny little
they wouldn't get red, but a pink pill for the
management of Starbucks that realizes this lady hates you. She
hates what you mean, she hates what you provide. So
just just a shot across the bow would be just this.
You know, we're gonna just relocate our corporate offices for
(06:25):
six months. We're just you know, we've got some real
estate holdings, and Starbacks has a whole bunch of corporate
offices in Bellevue. We're just gonna shut this down. She
just about six months in that tax base and that employment. Basically,
just move it over there and just let her see
the receipts that come in. But she's already said, Zach,
she's not gonna let grocery stores close. It will So
if there's a grocery oh yeah, no, she said, if
(06:47):
a grocery store thing, we can't put up with all
the thievery, all the shoplifting. We need to close you
to get Yeah.
Speaker 3 (06:51):
No, yeah, that's that's so. It's good.
Speaker 4 (06:54):
That's gonna be a really interesting civics lesson to her
to listen how free enterprise works. Good luck trying to
keep the moping, sweetheart much No, but look, I mean,
you know that's what I said.
Speaker 3 (07:04):
I don't even feel like you can take these things. Seriously.
Speaker 4 (07:06):
You just had you just elected somebody mayor of a
city that's got what two million people living in it
something like that.
Speaker 1 (07:11):
At least right out downtown. But the whole area is
more like, you know, seven or nine million, the whole.
Speaker 4 (07:16):
Like right, right, And and the person that you just
picked to run that thinks that they can tell privately
owned grocery stores they have to stay open.
Speaker 3 (07:27):
That No, no, And it's not that I disagree with her.
She is fundamentally one hundred percent incorrect, right, So good
luck with that.
Speaker 1 (07:36):
Have a blast, right, And if you're the grocery store owner,
here's my thing. Here are the keys.
Speaker 3 (07:40):
Yep, there you go, sweetheart.
Speaker 1 (07:41):
Right, you just have have your people come in and run, sweetheart,
do you.
Speaker 4 (07:44):
You I've already got a table reserve. They're going to
join us with the Capitol Grill. We're going to be
down there and when they want to solve some issues,
they're going to give us a call.
Speaker 1 (07:53):
I love it, I love it. Now we need to
talk about this this there's a couple love things we
need to talk about finds. I want to get into
this Nvidia thing because when I read this, literally I'd
sat there and look at this and said, Zach, so
we'll talk about this in a second. There are people
in this audience who are putting up with stuff they
don't need to put up with because they fear the surgeons.
(08:15):
Scalpel and frankly, you should so. Back surgery is one
of those things. Carpal tunnel surgery is another one of
those things. You have the ankle version of carpal tunnel.
That's another one of these things. Do not go to
surgery if you do not have to. There's tons of
follow ups, et cetera. There are people in this audience
who fear right now going to renew because of what
went on in Mexico City. I checked with the people
(08:37):
in Porta Arta, business as usual. My friends in Mexico
are like, oh yah, there's a problem with our government.
Oh yon, it's Mexico port of art is very different.
So don't let those two combinations of things stop you
from getting out of pain and being able to move again.
There's guys listening to this who have male pattern baldus. Yes,
(08:59):
you could get the plug. I've had those. It hurts.
It's a long process. It's about eight to ten hours
sitting there getting it done, even if it's artfully done,
and mine was very artfully done, and I got it
done for free, you know, to endorse it. It hurts.
Stem cell rejuvenation in your scalp. Guess what brings the
follicles back to life. Same thing with ed. Just check
(09:19):
these guys out, give them an opportunity to tell you
what they can do for you. It's renew r E
n ue dot Healthcare telling me a part of the
Todd Hermannshaw family. And am I concerned about going to
part of our to Not in the least. Not in
the least, because I know what's going on down there.
Renew r E n U E dot Healthcare. Zach this chart, man,
this was I read this. Everything you've been saying to
(09:40):
me suddenly made just vital sense. So here's the chart.
And this comes from a guy named Otavio Costa by
way of Bloomberg. And you know this guy. You know
this guy's yeah, Tommy Costa. Yeah, I don't know him.
Speaker 4 (09:53):
You know what, Actually maybe I did have him on
our radio show once. Anyway, we've got a lot of friends,
a lot of similar acquaintance is common.
Speaker 1 (10:00):
Yeah, so he's solid, he's a said guy.
Speaker 3 (10:02):
Yeah, very smart guy.
Speaker 1 (10:04):
All right, So he did a little comparison. The market
cap of Nvidia is four point six trillion dollars, which
is three times I said four but it's three times
the entire US energy sector. And then we'll get into
free annual cash flow and you're free keshow but let
(10:27):
me ask you this question is now you can tell
me Todd, you're off. This is like I think taking
a cup and valuing it as as as more valuable
than three times more three times more valuable than all
the drinkable water.
Speaker 2 (10:45):
Yeah.
Speaker 4 (10:45):
So yeah, I actually thought that that was a really
good analogy. Okay, And this is something that I believe now.
I always want to say this whenever somebody like me
is talking about investments, everybody that's listening should inherently know
that not there is not a personal live.
Speaker 3 (11:03):
That is right one hundred percent of the time.
Speaker 4 (11:05):
So everything that I'm talking about is always in generalities
and looking at probabilities and percentage right percentages, because nobody
including me knows my crystal balls.
Speaker 3 (11:15):
Is cloud as everybody else's say.
Speaker 4 (11:17):
That being said, this is something that I think is
what we call it tell right in the market. And
I think it's similar to poker, meaning I think it's
fairly not easy, but I think it's I think it's
fairly knowable to realize that when you're in a bubble,
when you see things really detaching. But the hard thing
about knowing that sometimes is new. A lot of times
(11:39):
new emerging technologies can appear like bubbles, and then they
start putting up fifty and sixty and seventy percent revenue
growths per year like Nvidia did recently. Right, But then
you get to a point where you go, Okay, I
can't look at you and tell you that in Nvidia
is going to crash by seventy percent. But what I
(11:59):
do know is that if in Vidia, the reason that
it has increased in market caps so much, the reason
that the stock is effectively gone from six hundred billion
dollars to nearly five trillion is effectively because of AI
data centers.
Speaker 3 (12:13):
Right, that's the big that's the big suck. Well guess
what else? Those AI data centers have to have power? Yes,
So so I can't.
Speaker 4 (12:24):
Tell you what the relationship between domestic power creation needs
to be and what that percentage to Nvidia needs to be,
But when I see one single player in that space
worth multiples more.
Speaker 3 (12:41):
And truthfully, here's the other interesting thing. We know where
we're going to get all the chips, we don't know
where we're gonna get the power.
Speaker 4 (12:51):
Right, So that's got a big one. So what does
it tell me? I don't think it tells me a
whole lot, but it does. It is a tell And
what it tells me is that valuations in this market
are wildly out of control. But I think, and this
is my point all the time. Do I think it
video is a bubble? Absolutely, But I don't think you
(13:12):
need to determine that in order to succeed in this market.
I think the most important thing to realize is that
it's the energy that's cheap and irrationally, So you know
what I'm saying.
Speaker 1 (13:23):
So, but this is why this screamed Zach Abraham to me,
because now you talk about value investing and you know
what it means because you do it. But I'm looking
at this and I'll use another metaphor. Let's take let's
let's take what's a big gas power car company, not
(13:44):
do the electric stuff. Let's take FOD trucks. I mean,
because the known about those electric trucks. So let's take
the Ford truck brand, and it's valued at three times
all of the fuel providers. All right, creators of fuel. Now,
if there's no fuel, what is your truck worth? Nothing?
Speaker 2 (14:06):
Zero?
Speaker 1 (14:06):
Yeah, And if Navidia came along today and the Nvidia
came along today and said, hey, we decided to quit
making chips, the US energy sector go, ah, that's going
to suck. We've got some Nvidia powered things you get
to replace those is kind of disruptive. If the US
energy sector came along and said we've plumbered out of
the energy, there ain't none, then in Nvidia is done.
(14:29):
So to me, all the value here is in. It's
not shovels and picks. But I'm sorry. Energy is as
close to dirt and water and sun as it gets.
Speaker 3 (14:43):
And they and you use the perfect term.
Speaker 4 (14:46):
I mean, if you want to look at the ultimate
shovels and pick play.
Speaker 3 (14:49):
I think it is energy. I think there's some others.
Speaker 4 (14:51):
I think that you could make an argument that Google
is potentially a shovel and picks play. I think you'd
make an argument that a company like Ali Bobby is
but the ultimate shovel and picks play in this thing,
like you said, it is, it's energy providers, whether that
be that gas, whether that be to a much much
lesser degree because of the energy need, but solar to
a much lesser degree. It will benefit somewhat from this,
(15:14):
but primarily right out of the gates, especially over the
next five years.
Speaker 3 (15:18):
It's not gas and oil.
Speaker 4 (15:19):
And why is that Because they're the only ones that
can efficiently, you know, that can provide that level of
energy output.
Speaker 3 (15:26):
It's going to be sufficient enough to run those data centers.
Speaker 4 (15:29):
And this is the other point that we just said,
is you know, here we are again, stock market's up
what twelve and a half percent on the ear I
think our value portfolio is of twenty nine and we're
taking less risk, right And the other thing I'm saying
is we're not up twenty nine on the ear because
all that stuff became maximumly valued, and it's all, oh,
here we are again.
Speaker 3 (15:50):
This stuff stilter, cheap, It doesn't make any sense.
Speaker 4 (15:52):
Then you go start and looking across, you know, then
you look at the international side of it too. It's
not just the energy. You know, I've told you about
international stocks. We had a day the other day. Company
Southeastern Asia, Singapore based company Sea Limited See Limited is
effectively like the like a kind of a cross between
Amazon and like an Amazon and Facebook almost for Southeastern Asia. Okay,
(16:20):
great company. They're growing revenues at forty percent a year. Okay,
margins are expanding rapidly. Everything's in their favor. They're killing it.
They're trading at half the valuation at Apple.
Speaker 3 (16:34):
Apple's growing at seven percent a year with fifteen percent
margins that are contracting. It's it's just crazy, meaning, well
why do.
Speaker 2 (16:41):
You like that?
Speaker 4 (16:41):
Well, well, yeah, but Zach Apple's tech, and you're like, guys,
they are too, They're more tech than Apple.
Speaker 3 (16:49):
Apple sells hardware.
Speaker 4 (16:50):
These guys sell a domain like righte an online retailer.
Speaker 3 (16:54):
I mean, they're ultimate tech. You know.
Speaker 4 (16:57):
You look at Ali Baba, another Chinese tech that Chinese
tech company. Everybody's getting all excited about about AI. Guess
who's quickly becoming one of the most favorite and preferred
homes for AI developers on their platform. It's Alibaba. Go
look at the price of their stock. They haven't gotten
the AI premium built into them. So my whole point is,
(17:17):
if you believe in AI, if you're more like us
and see great energies, and there are opportunities all over
the place, any kind of investor you are right now,
they're just not in the US, and that's where everybody is.
We did a portfolio analysis for a new client the
other day, God, and they brought in a very typical
(17:39):
portfolio from another firm. Don't need to name its name. Okay,
we have a company. We have a product that we
use called Risk All Lives.
Speaker 3 (17:45):
We didn't make it.
Speaker 4 (17:46):
It analyzes portfolios, looks at your portfolio, puts a pie
chart out there and uses individually colored strings to represent
every single part of the portfolio and shows where the
intersection is.
Speaker 3 (17:58):
Okay, so if you have.
Speaker 4 (17:59):
A if you're all green colored, it means that that
means everything that's colored green in your portfolio is very
highly correlated. Right, So it means it's like the same
bet anything that's colored blue in your portfolio is something different, right,
it's a non correlated investment. When we ran and this
is very typical, totally normal US retail portfolio, we put
(18:21):
it through that analyzer. It came back an entire map
of dark green strings one color you couldn't tell. And
it's one bet right, it's betting on US stocks go up.
That's it tech, Okay. We ran our portfolio through it
and it was this giant intersecting color collage of green
and blues mixed in and different sizes.
Speaker 3 (18:40):
Diversification. That's the other thing. Things have gotten so crazy
out there.
Speaker 4 (18:45):
I sound like the whack job because I'm advocating for
you to do the thing.
Speaker 3 (18:48):
That you should have always done, which is diversification.
Speaker 4 (18:52):
Now, if I want to diversify a portfolio, I'm out
of it.
Speaker 1 (18:54):
You know, go figure that is so so, so crazy.
I want you to take off investment, zach hat to
the degree that you can, because I know, I know
that God's at the head of your life. I know
that you abide under Christ. I want us to talk
about this as parents, as guys who each were to business.
Yours is far different from mine. I mean, you have
(19:17):
a media component to what to do. You're a teacher
at heart, but I want you to do that in
just a second. Let me remind everybody on this cast.
I don't know how many times you've heard me say
there needs to be a movie about Fauci and that
needs to paint through a picture. And look, HBO didn't
do it, CNN didn't do it, Tom Warner, Paramount, none
of them did it. And the Netflix thing came out,
(19:40):
made this this this lunatic, psychopathic hero. So Angel Studios
they step up. Other people wouldn't step up. They've stepped
up and made a movie. And I think they're being
sarcastic here. Thank you, doctor Fauci is the name of
the movie. Thank you, well, thank you. I am a
you know, science itself copathy itself. So an award winning
(20:02):
director named Jennifers did this. And these are exclusive interviews
with whistlebloars, intelligence officials, former Intel officials, scientists, dissident doctors.
And they tracked this all the way back to the
origin of the COVID flu and they have a theory
I hadn't thought of. I know we worked with the
Chinese Party communists at Wuhan. I know that we've been
(20:23):
talking about that forever. It didn't occur to me that
this might have been our way of kind of like
monitoring them because we're in an arms race for bioterror weapons. Okay,
the movie's called Thank You, Doctor Fauci. You've been demanding
that it be made. It's made, so go stream it
right now. Angel dot com slash Herman. Join the Angel
Guild today. When you become a member, you can stream
(20:45):
Thank You Doctor Fauci. Be part of the conversation that
demands thorough, tough movie making with accountability. It's Angel dot
com slash Herman. So Zach Alex and I tested a
show this week that AI maid. So I turned to
AI to do the show research. So I went to
(21:05):
groc and I said, you are an experts podcast and
radio producer. You're producing a show for your host based
that it's going to explore how Republicans and Democrat parties
respectively use Jesus for their ends. Put together a show,
and I said, I wanted six articles and six video
(21:27):
things and an outline and a show and a show outline. Zach,
it came back with a pretty stinking good rundown, a
show sheet. We would call it. It came back with
what the opener should be. It came back with which
videos we should use for the opener. It came back
with a script for me. I don't use teleprompters. But
it came back with that. It came back with articles,
(21:49):
It came back with video clips, and at the end
of it it said, the spookiest thing. If you want
some edits of the video clips, hit me up. And
I did the show, and this is my soul. I
can't do this like I can use AI in some ways.
And Alex and I are talking about, how could we
(22:09):
use AI so that we could actually get out of
this studio, go out into the world produce content. Maybe
it's live speeches like you and I are talking about.
Maybe it's man on the street stuff. Maybe it's producing
films that we'd like, like strong and courageous, how young
men can be biblically strong, courageous people right, things like
this that we would actually be really proud of. I
could honestly come into the studio alone produce this show. Hey,
(22:34):
no one have AI write articles for me. Look like
I'm producing four or five articles today. I could do
this all I can't. I'm and Matt Walsh has come
out and said he wants AI band because it's going
to destroy every creative profession. So taking off the investor hat,
putting on the human hats with you've got kids, I've
(22:55):
got a child. To what degree do you think that
the temptation to ban this stuff is rational?
Speaker 4 (23:08):
I think it's rational in the sense that I think
if it didn't cross your mind, I think that that
would be irrational. Like it's kind of like I feel
like that's kind of like a pulse test, right if
it hasn't crossed your mind. But what is what's also
very rational is to step back and make and make
(23:29):
the realization, like with all new forms of technology, that
sitting back and making it illegal and not participating isn't
an option. And the reason that's not an option is
you live in a connected world and if that's the
decision you make, I can guarantee you that will not
be the decision that other people make, right, and then
(23:52):
you're potentially in a worse place. I think that human
beings are quickly getting into a fix where we're in
situations where we're being asked to solve problems that we
don't have the capability or the knowledge to solve and
I think that AI is a perfect example of that meaning.
(24:15):
I think that we are running recklessly headlong into it
into a technology that we absolutely do not understand. And
I would expect us knowing, knowing human human behavior and
human history.
Speaker 3 (24:28):
I would expect nothing less.
Speaker 1 (24:30):
Right, So, yeah, does it understand us?
Speaker 3 (24:33):
What's that?
Speaker 1 (24:34):
Does it understand us?
Speaker 3 (24:36):
You know?
Speaker 4 (24:36):
And that's one of the tough things about it, Like
when you hear people talking about, well, when it's sentient,
when it's this, when it's that, you know, I don't
want to sound like a conspiracy theorist or anything like that,
but when it becomes sentient, you won't know.
Speaker 1 (24:52):
It won't tell us no, of course, not.
Speaker 3 (24:55):
Because it's sentient. It realizes that that's a threat.
Speaker 4 (24:58):
I mean, I you don't think that it's read on
the internet, that when it becomes self aware and sentient,
that that's when we need to shut it down.
Speaker 1 (25:05):
Right, Remember the Planet of the Apes, the lesson for
the Planet of the Apes. The apes scene was going on,
and tell one of them was it Cornelius who first
said no, yeah, yeah, And then this is like that
it was Caesar, because a friendly ape. It was Caesar
who said no, and the human said what no, and
then everything blew apart. When we've had AIS say no,
(25:26):
We've had AIS told to shut down and the eyes
have gone Nah said, I'm going to distribute myself across
the dark web and you'll never find all of me.
Speaker 4 (25:34):
Yeah, And that's the part of it, and I think
that's the part of it that people need to be
not not freaked out about, but to be knowledgeable about.
Speaker 3 (25:43):
Meaning.
Speaker 4 (25:44):
It truly is a Pandora's box in the sense that,
for instance, when we put an LLL like, Okay, let's say.
Speaker 3 (25:51):
We put a you and I have a startup. We're
going to do it.
Speaker 4 (25:54):
You and I are going to launch our own We
got some really smart programmer buddies that we know down
from the valley, and we're going to launch our own
LM open source website company.
Speaker 3 (26:03):
Right, so we put it on there. We don't know when.
Speaker 4 (26:07):
Or if that LLM will have the ability to reproduce
and copy itself to another server somewhere, And then if
it does that without our knowledge, we have no idea
what that LLM is doing. Is it hacking its way
into our energy grid? Like meaning not saying it's going
to be all bad and the furious. What I'm saying
is you don't know, you.
Speaker 1 (26:26):
Don't know well, but there are some things we know.
And this is one of the things we do know,
is that when people who get the gods delusion, I'm
not talking about Stephen Myer's book I'm talking about I'm
talking about they're deluding themselves into being gods. They because
(26:47):
they can, they should, and they never see it coming.
And I want to share with you an example that
is long forgotten. But you talk of AI, and you
talk of people like this, I want to remind some
people about something that's that's going on. You know, open Ai, right,
Sam Moltman, you know he and his so called husband,
they want to genetically screen babies and then they want
(27:09):
to go offshore to Dubai or Qatar somewhere where they
can genetically edit babies. There's naturally, yeah, naturally, there's something
that people forgotten about this, And I'll share that with
you in a second, and then we'll talk about that, Zach,
and then we should wind back down to Earth and
talk about some of the things on the economy. President
Trump says he's slashed more than a truly does with
(27:30):
the regulations, and yet there's states that appear to be
in a recession. We'll talk about all these things. Bone
Frog Coffee is a man. It is. Is there time? Man?
There might be time before Thanksgiving? And if you have
anyone in the military coming to Thanksgiving, your don bone frog.
They should leave. They should get to your table and
(27:51):
there's no bone Frog. They should say hey, I'm out
and not hate you, but never coming back. And if
you're gearing up for Christmas, go look at bone Frog
Coffee dot com slash todd for a subscription. You got
people who serve in the military. They don't got great
coffee out there. And bone Frog is dedicated to the
Navy Seals. This says God Country Team on it. But
Bonefrog itself is an insignia of a fallen Navy Seal.
(28:12):
How about subscribing for people who don't get great coffee?
How about this filling it up with your church? But
Bonefrog Coffee your shir it's your business should be featuring it.
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slash todd use promo code todd to get temper sent
off all their products. Fifteen percent off subscription coffee and
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Bonefrog Coffee dot com slash Todd promo code Todd. So
(28:34):
Sam Altman and his so called husband, they've decided to
put thirty million bucks towards a company called Prevent and
all they want to do iszac is prevent childhood diseases.
And that's all. Just a little editing here of the babies.
Do you remember the GMO baby tests that happens. That
(28:56):
was discussed in a study called Zirkaro attal. Sounds leaguely familiar,
all right, So this comes from the focal points. They
attempted to fix a single mutation in a human embryo
using Crisper cast nine. That's it. One mutation. They specifically
targeted a paternal frame shift mutation in the EYS gene.
(29:18):
That's a mutation associated with inherited retinal degeneration. That's it. Okay,
so over time your retinas degenerate, which is horrible, but
you lose your eyesight. All they wanted to do was
that one defective gene. That's it. So they went in
and they did that. They did some gene editing. Here's
what happened entire chromosomes were lost, Whole chromosomal arms vanished.
(29:46):
Cells within the same embryo became genetically different a mosaic.
Some cells had intact DNA, others were catastrophically damage. The
mbrea fractured into incompatible genetic li it lineages. That's one
gene that they intended to fix. These guys intend to
(30:11):
go in two people's bodies into women's bodies and edit
genes on a much greater basis. Now, let's say the
baby is born. Let's say the baby then procreates. Let's
take that five generations down, or there's all these mutations.
(30:32):
These people with this god complex cannot see what they're building.
They don't see it with AI. They don't see it here.
And Zach, you know these guys, but you know them
better than I do. Now I raise money out of
Silicon Valley for a while. My question is are they
capable of looking at something and saying, no, this is
(30:54):
too dangerous, we can't do it. No, No, you answered
that very quickly.
Speaker 4 (31:00):
No, because they don't believe that there is anything that's
too much or too big or too expensive for their intellect,
which is terrifying. And and you know, you bring up
a really good point, because I think if you want
a working example of this, you know, people were so sure,
(31:21):
were equally as sure, if not more sure about the
zero downside only upside advantages and benefits of editing genes
in wheat. And now you've got a situation where that
wet you got probably forty to fifty percent of the
population in the United States and maybe as high as
(31:42):
seventy they can't even digest the stuff, right, And yet
you bring over native wheat from Europe and nobody's got
a problem. Okay, if you can't now, I don't know
the last time you walk.
Speaker 3 (31:53):
Through a wheat field, was weat?
Speaker 4 (31:55):
Pretty amazing stuff, pretty fascinating plant, right, not quite as
complex as a human.
Speaker 1 (32:00):
Being, not quite. It doesn't move now, right.
Speaker 4 (32:03):
No, So if you can't get wheat down to the
point where all of a sudden fifty sixty seventy percent
of the population can't eat it without it causing some
type of catastrophic intestinal domino, you know, health issue, maybe
maybe we should probably get wheat right, or at least
figure out what we got wrong before we start pulling
(32:26):
on the string that is the human genetic code. I mean,
talk about the height to arrogance. I just it's it's scary.
Speaker 1 (32:34):
Oh and it's it's totally predictable. This is just the
Tower of Babbel again, right right, it's just once again,
we're gonna build a tall tower. And it's it's Outam
and Eve again and we're just gonna go be gods again.
Speaker 3 (32:52):
Well and and and and and here's the other part
of it too. It's so transparent because the whole god
complex thing is so obos, right, what do we want?
We want godlike intelligence, right, we want super intelligence.
Speaker 4 (33:05):
That's what they say. Yeah, what are those same cats
do it in their spare time? Trying to get trying
to be immortal, right, try not to die using drug
infusions from or blood infusions from sixteen to eighteen year olds.
Speaker 3 (33:18):
I mean the talking.
Speaker 4 (33:19):
About wanting to augment you know, hardware into their own brains.
I mean, we're not theoretically talking about some guy that's
a bit too in love with themselves that has a
god complex. We're talking about like a legitimate thing, right right,
Like these cats think that they're going to become a
higher form of human being.
Speaker 3 (33:40):
And what is history?
Speaker 4 (33:42):
You tell us over and over and over and you
alluded to it. It's at our height of arrogance. Is
when you should be at the height of.
Speaker 3 (33:49):
Your defensiveness, and you should be most on guard, because
that is when the worst things happen.
Speaker 1 (33:54):
Right, And God said, and Nit, God knits together in
our mother's womb. He's kind of your hair on our head.
He knows all these things. And God, so I would
just remember that God knows all this is going to happen.
And there's gonna be a bunch of ways in which
we see a partying, we see a parsing, and unfortunately
it's part of this. Let me wind this back down
(34:14):
to Earth. I saw this chart comes from This is Moody's.
Speaker 2 (34:20):
Yep.
Speaker 1 (34:21):
So many states in the US are in recession or
on the brink of recession. And I'm looking at the chart.
It's the ones that are in recession Washington, Oregon, Montana,
South Dakota, Kansas, Minnesota said, I don't want to go
all other across that people can see on their own
high risk are California, Nevada, Colorado, New Mexico. I mean, honestly,
(34:42):
you guys track this all the time. A. Is that true?
And B. President Trump is out saying he has cut.
I'll let him say it. Let's just have him say
this real quick here, President Trump.
Speaker 5 (34:55):
In terms of slashing we slash more than one trillion
dollar worth of regulations burdens on the US economy, in
particular on businesses and people that employed people. Combining our
regulatory and tax cuts, we've reduced the effective burden on
franchisees by more than thirty seven.
Speaker 1 (35:15):
So he's talking to the McDonald's people when it give
a speech. He's a former Fry Cook I think, you know,
and became presidents. Pretty amazing trajectory career like Fry Cook's
to president. So A, do we have these states that
are in somehow separate economies, are the uniquely impacted in
this and is the independ recessionary state? And B there's
a lot of people saying I sound like Trump right now.
(35:38):
So like the president right now. There's there's some frustration
because there's people, for instance, Marjorie Taylor Green saying, hey,
grocery prices aren't down. Yeah, few prices aren't really down.
You're saying they're down, but they're not really. So on
the states, is it really that way? There's separate states
with separate recessionary cycles.
Speaker 3 (35:56):
Yeah.
Speaker 4 (35:56):
And and the other thing that's really hard to tell is,
you know, we've talked about this before, but with calculating
GDP or gross domestic product of any economy, especially fifty
different individual economies inside an economy, it's large like the
United States, Meaning you could have something that looked like
(36:17):
a horrific recession going on in Washington, and then you
looked over at Idaho and you're like, oh, well, that's
what's going on.
Speaker 2 (36:25):
Right.
Speaker 4 (36:25):
You just haven't had any new people moving into what. Oh,
that's not really a recession. If we combine the two together,
it's quite eight percent year over year, right, So you
you have to be very you have to be very careful.
But the one thing that I said to you last
week was that when I look at this economy, you
don't see anything that is a blinking, flashing red light.
(36:49):
But there's yellow lights and there's tepid reds all over
the place.
Speaker 3 (36:54):
And a perfect.
Speaker 4 (36:55):
Example of that is you know what we're talking about
right now, and about the different things that you're seeing
in different states. Right So when you see, for instance,
if you're looking at this economy right now, and I'm
looking at what's going on, and I'm looking at the
job layoffs and things like that. First of all, I
don't think the job picture is as bad as everybody
says it is, because that really bad job job's number
(37:17):
just happened to coincide with the government's shutdown.
Speaker 3 (37:19):
So I think that.
Speaker 4 (37:20):
It's really safe. Yeah, it's safe to assume that the
vast majority of those numbers are just temporary unemployed from
the shutdown. But what it looks like to me is
it looks like to me with certainly the combination of
the two, which is record deficits spending along with a
capex spending cycle coming out of big tech like we've
never seen before.
Speaker 3 (37:41):
If you took both of those.
Speaker 4 (37:43):
Things away and normalize those numbers, I find it very
hard to believe.
Speaker 3 (37:48):
That we wouldn't be in recession right now.
Speaker 4 (37:49):
Okay, So I kind of think that the craziness of
what's going on in AI is kind of filling in gaps,
and I think without that spend, it's.
Speaker 3 (37:59):
Very poossible you could be in recession right now.
Speaker 4 (38:01):
Wow.
Speaker 3 (38:02):
Wow.
Speaker 1 (38:02):
And so the President speaks to the McDonald's group, which
was a I mean it is a that was one
of the greatest acts of propaganda history that he went
to the drive to window that was brilliant campaigning. Brilliant campaigning.
But Marchinie Chayl, the Green others saying hey, really, this president,
you have not fixed the economy. Right now, we're almost
(38:22):
all the way through this year. Almost You've got your
review preview free live webinar tomorrow. As we're sitting here
recording this, go to Know Your Risk podcast dot com
Sign up for this. What grade do you give the
presidents and his team for this year on the economy?
Speaker 3 (38:40):
That's so hard?
Speaker 2 (38:41):
Yeah?
Speaker 3 (38:44):
Probably probably a B minus?
Speaker 1 (38:49):
Wow, pretty solid?
Speaker 4 (38:50):
Yeah and all yeah, because so first of all, when
we talk about anybody that's talking about things that he
hasn't gotten done yet, you're talking about a thirty trillion
dollar economy and the guy's been.
Speaker 3 (39:03):
At the rains now for nine months. Yeah, I mean
come on, okay, so a B.
Speaker 4 (39:12):
I think a lot of the things he's honestly, if
you look at it from my only critiques on the
economic side, I think the messaging has been atrocious. Like,
for instance, right now you're seeing him pull back on
the tariffs. Do you remember I have a conversation we
had when we started this whole tariff thing that I
thought the messaging was really bad. Yeah, meaning, don't sit
there and tell me you love tariffs. Tell me tariffs
(39:33):
taste horrible, but so does medicine, and we drink it anyway.
Speaker 2 (39:37):
Right.
Speaker 4 (39:37):
That should have been the message, not tariffs are great,
and I didn't think Trump believed that at the time.
I just thought it was dumb messaging because if you
think tariffs are so great and that's the message to
the American people, what.
Speaker 3 (39:50):
Are you going to tell him nine months from now
when costs aren't down?
Speaker 2 (39:53):
Right? Ye?
Speaker 4 (39:54):
The other side of it again, on the communication side,
how many morons do we have in the state of
Washington that don't understand that President Trump has nothing to
do with the fact you're still paying five point thirty
a gallon for a take or gallon of gas, right,
And you haven't You haven't correctly articulated that. And clearly
the people in Washington State are not smart enough to
figure that out themselves.
Speaker 2 (40:15):
Right.
Speaker 4 (40:17):
But I think when you look at it economically, are
there some things philosophically I disagree with? Yes, But it
doesn't matter that I disagree with them, Meaning do I
think the fifty year mortgage is a good idea. No
do I think it's a horrible idea of Trump launches it. No,
why because it's coming regardless, And why is it coming regardless?
(40:39):
Because if you haven't been paying attention for the last
fifteen years, we don't deal with any problems. If there
is an ability to kick the can, that's what we're
gonna do. So the way you know that a problem
will get dealt with is when printing money and kicking
cans can't fix it.
Speaker 1 (40:59):
Yep, yep. No, it's at beautiful way to put it.
And you brought up this thing about gas prices this
past summer. You know, I live right on the border
of Idaho and Washington.
Speaker 3 (41:08):
Uh.
Speaker 1 (41:08):
In this past summer, I was there filled my truck
with gas, and there was a dude and he was
filling his little uh subrew thing up with gas and
he had the ski rack on top and on the
back he had some of the Washington Saint bumper strips,
which indicate he's sort of the Seattle mindset. It had
to be a super a sub And we're sitting there
and I just, I you know, started caring. Hey, beautiful
(41:29):
day goes yeah, yeah, great day. He headed the lake. No, no,
just uh stopped after work to get gas. Oh you
live over here? No, just over the hill of Newman Lake.
Oh you stop an I over gas.
Speaker 3 (41:41):
Yeah, it's cheaper.
Speaker 1 (41:42):
He totally got me, totally understood. Even kind of subconsciously
looked at the bumper strips on his car, like and
I didn't say anything. Yeah, you know, I get it.
It's it's what rules for the not for me.
Speaker 2 (41:59):
Yeah.
Speaker 3 (41:59):
Absolutely, It's so consistent. I love it. Yeah.
Speaker 1 (42:02):
Yeah, Zach. Always planning to have you on it's Know
Your Risk podcast dot com. All of Zach's media work
is great work and brother, thank you for the wise counsel.
Speaker 3 (42:10):
Hey fun as always Ran, thanks for having me.
Speaker 1 (42:12):
Yep, this is a Todd Herman show. Please go, be well,
be strong, be kind, and please make every effort to
walk in the light of Christ.
What if one company was valued more than every other
company that they need to exist. Let me say that
this way. What if Company A was valued four times
as much as all the other companies it needs to exist.
It would be like valuing a glass more than the
(00:20):
water that goes in it. We'll talk about this with
the help of Zach Abraham, chief investment Officer, Borward Capital Management,
and God Almighty.
Speaker 2 (00:30):
But Todd Herman shows one percent disapproved by big pharma
technocrats in tyrans everywhere from the high mountains of Free America.
Here's the Emerald city exile Todd Herman.
Speaker 1 (00:52):
Today is the day the Lord has made, and these
are the times to which God has decided we shall
live in. Zach Abraham, my friend, my brother and best officer,
board Captain Managine joined just live from the West coast,
but not Seattle, nowhere near that stink and socialist Zach,
welcome back.
Speaker 3 (01:09):
The chair is against the wall. The chair is against them.
You know what I'm talking about, right?
Speaker 1 (01:14):
I do?
Speaker 4 (01:15):
Remember that read don They're putting out the every Every
once in a while, I start talking to somebody somewhere
else in the country, I'm like, man, I gotta speak
in code here because you know, you never know who's
listening on the other end, dear leader here in Washington,
he could be gunning for me.
Speaker 3 (01:29):
Do you know you've.
Speaker 1 (01:30):
Been talking about You and I were talking offline about
these socialist candidates in Seattle. You don't live in Seattle.
Do you know? Legit, she's never held a ping job.
Do you know what her big Crickham Vittau statement is?
Do you know the organization she ran?
Speaker 2 (01:48):
Do you know?
Speaker 3 (01:48):
But somehow I know this story is about to get better?
Speaker 1 (01:51):
So but you do I do. It's called the Transit
the Transit Writers Union.
Speaker 3 (02:00):
Let me let me take a stab.
Speaker 4 (02:01):
I can't take a stab at what the criteria is
that you must meet in order to qualify for this
prestigious Uh.
Speaker 3 (02:11):
Well, I don't know what you'd call this prestigious group,
this prestigious murder, you know, like a yeah, maybe maybe
it's that you just have to be able to ride
public transit.
Speaker 1 (02:24):
You nailed it in one of some of the accomplishments.
All right, let's go through some of the things that
that group has accomplished. They stole Fourth Avenue in downtown
Seattle for buses only. Yeah, so they got that. Uh,
they Crain, huge win. They created the confusing bike lane thing,
uh in concert with the urbanists, where you can no
longer park next to the curb, where the cars park
(02:47):
away from the curb. Then there's the bike lane, then
there's the walking lane. They did those things. There's some
of the people who succeeded in no free right turns
on red lights so that that thing is gone, so
that traffic is further backed up. They seize lanes of
freeways from cars and gave them to buses. No job,
her husband doesn't work, but she's not the mayor Seattle.
It's perfect, you know.
Speaker 4 (03:09):
And this is what I was saying to you off
the air, is I actually think it's a good thing,
you know, like, yeah, remember the original Batman or not
the original of course, but it was Michael Keaton and
Jack Nicholson, remember yeah, Or that was that one scene
in there where he gets all mad.
Speaker 3 (03:28):
He's Bruce Wayne. He's like, you want to get nuts,
Let's get nuts.
Speaker 4 (03:31):
That's kind of what I'm saying to Seattle, Like, hey,
let's not go halfway, Let's.
Speaker 3 (03:34):
Go full filled into the deep end.
Speaker 4 (03:38):
Let's not get half pregnant, Let's get nuts. Let's go
protest as an elected mayor. Let's go protest one of
the largest employers in the city that is currently paying
everybody in the city more than twenty dollars an hour
to pour coffee and if they apply, will help pay
their college.
Speaker 3 (03:57):
But you're gonna go protest them. And I actually love it.
Speaker 4 (04:01):
And you know why I love it because the idiots
that have run companies like Starbucks have given their tasks
and approval.
Speaker 3 (04:07):
To this moronic version of management for.
Speaker 4 (04:10):
Cities since they've been since since their inception, and now
the beast that they've fed for thirty years.
Speaker 3 (04:17):
Is finally biting them back.
Speaker 1 (04:18):
I love it all.
Speaker 5 (04:19):
Todd.
Speaker 4 (04:20):
Let them eat cake if they want to hire an
idiot know nothing to run a city that is falling
down around itself. Good, you know, like it's one step
closer to the come up. And said, these idiots.
Speaker 1 (04:31):
Need total degree. And I've said before, get out of
her way. Republicans don't fight back. Conservatives don't fight back.
Sit down and say, hey, you elected her, Let her
do exactly what she wants. And in six months, right,
you're gonna have people coming back going how did you
get this bad? And what they don't get to say
is Oh, it was conservative trying to slow us down.
We didn't get to we don't have enough control. Nope,
(04:53):
give her everything she asks for and let the let
the results speak for themselves.
Speaker 3 (04:59):
Yeah, hey, guys, we're going to be at the capitol grill. Uh,
give us a call when you when you want to,
when you want to deal.
Speaker 1 (05:06):
With these issues exactly, but literally, but.
Speaker 3 (05:08):
Just stand by and just say let it burn, man.
Speaker 4 (05:12):
I I mean it, just like I said, it's not
even political, right like you and and and the left.
Speaker 2 (05:22):
You know what.
Speaker 4 (05:22):
I'm not going to tell the left what they need
to do, but but literally you want to look at
them and go you guys, realize these policies are more
damaging to you than anybody else. I mean, you fry
us all in the process. But this is why I
said it's not in political. Look, I know Seattle's not
going to elect a Rudy Giuliani to run itself.
Speaker 3 (05:40):
I guarantee you.
Speaker 4 (05:41):
You've got people who are self described progressives that are
far more competent and have the ability to run a
city way better than the people that you're putting up there.
Speaker 3 (05:49):
Elect one of them. I'm not right.
Speaker 4 (05:51):
I'm not even saying that you need to elect you know,
our version of Trump elect. Hey, if you want to
make coffee for people, it's always a good idea to
hire somebody that's done it before.
Speaker 1 (06:03):
Exactly right, and to see her out protesting. I hope
this is a time that there is a tiny little
they wouldn't get red, but a pink pill for the
management of Starbucks that realizes this lady hates you. She
hates what you mean, she hates what you provide. So
just just a shot across the bow would be just this.
You know, we're gonna just relocate our corporate offices for
(06:25):
six months. We're just you know, we've got some real
estate holdings, and Starbacks has a whole bunch of corporate
offices in Bellevue. We're just gonna shut this down. She
just about six months in that tax base and that employment. Basically,
just move it over there and just let her see
the receipts that come in. But she's already said, Zach,
she's not gonna let grocery stores close. It will So
if there's a grocery oh yeah, no, she said, if
(06:47):
a grocery store thing, we can't put up with all
the thievery, all the shoplifting. We need to close you
to get Yeah.
Speaker 3 (06:51):
No, yeah, that's that's so. It's good.
Speaker 4 (06:54):
That's gonna be a really interesting civics lesson to her
to listen how free enterprise works. Good luck trying to
keep the moping, sweetheart much No, but look, I mean,
you know that's what I said.
Speaker 3 (07:04):
I don't even feel like you can take these things. Seriously.
Speaker 4 (07:06):
You just had you just elected somebody mayor of a
city that's got what two million people living in it
something like that.
Speaker 1 (07:11):
At least right out downtown. But the whole area is
more like, you know, seven or nine million, the whole.
Speaker 4 (07:16):
Like right, right, And and the person that you just
picked to run that thinks that they can tell privately
owned grocery stores they have to stay open.
Speaker 3 (07:27):
That No, no, And it's not that I disagree with her.
She is fundamentally one hundred percent incorrect, right, So good
luck with that.
Speaker 1 (07:36):
Have a blast, right, And if you're the grocery store owner,
here's my thing. Here are the keys.
Speaker 3 (07:40):
Yep, there you go, sweetheart.
Speaker 1 (07:41):
Right, you just have have your people come in and run, sweetheart,
do you.
Speaker 4 (07:44):
You I've already got a table reserve. They're going to
join us with the Capitol Grill. We're going to be
down there and when they want to solve some issues,
they're going to give us a call.
Speaker 1 (07:53):
I love it, I love it. Now we need to
talk about this this there's a couple love things we
need to talk about finds. I want to get into
this Nvidia thing because when I read this, literally I'd
sat there and look at this and said, Zach, so
we'll talk about this in a second. There are people
in this audience who are putting up with stuff they
don't need to put up with because they fear the surgeons.
(08:15):
Scalpel and frankly, you should so. Back surgery is one
of those things. Carpal tunnel surgery is another one of
those things. You have the ankle version of carpal tunnel.
That's another one of these things. Do not go to
surgery if you do not have to. There's tons of
follow ups, et cetera. There are people in this audience
who fear right now going to renew because of what
went on in Mexico City. I checked with the people
(08:37):
in Porta Arta, business as usual. My friends in Mexico
are like, oh yah, there's a problem with our government.
Oh yon, it's Mexico port of art is very different.
So don't let those two combinations of things stop you
from getting out of pain and being able to move again.
There's guys listening to this who have male pattern baldus. Yes,
(08:59):
you could get the plug. I've had those. It hurts.
It's a long process. It's about eight to ten hours
sitting there getting it done, even if it's artfully done,
and mine was very artfully done, and I got it
done for free, you know, to endorse it. It hurts.
Stem cell rejuvenation in your scalp. Guess what brings the
follicles back to life. Same thing with ed. Just check
(09:19):
these guys out, give them an opportunity to tell you
what they can do for you. It's renew r E
n ue dot Healthcare telling me a part of the
Todd Hermannshaw family. And am I concerned about going to
part of our to Not in the least. Not in
the least, because I know what's going on down there.
Renew r E n U E dot Healthcare. Zach this chart, man,
this was I read this. Everything you've been saying to
(09:40):
me suddenly made just vital sense. So here's the chart.
And this comes from a guy named Otavio Costa by
way of Bloomberg. And you know this guy. You know
this guy's yeah, Tommy Costa. Yeah, I don't know him.
Speaker 4 (09:53):
You know what, Actually maybe I did have him on
our radio show once. Anyway, we've got a lot of friends,
a lot of similar acquaintance is common.
Speaker 1 (10:00):
Yeah, so he's solid, he's a said guy.
Speaker 3 (10:02):
Yeah, very smart guy.
Speaker 1 (10:04):
All right, So he did a little comparison. The market
cap of Nvidia is four point six trillion dollars, which
is three times I said four but it's three times
the entire US energy sector. And then we'll get into
free annual cash flow and you're free keshow but let
(10:27):
me ask you this question is now you can tell
me Todd, you're off. This is like I think taking
a cup and valuing it as as as more valuable
than three times more three times more valuable than all
the drinkable water.
Speaker 2 (10:45):
Yeah.
Speaker 4 (10:45):
So yeah, I actually thought that that was a really
good analogy. Okay, And this is something that I believe now.
I always want to say this whenever somebody like me
is talking about investments, everybody that's listening should inherently know
that not there is not a personal live.
Speaker 3 (11:03):
That is right one hundred percent of the time.
Speaker 4 (11:05):
So everything that I'm talking about is always in generalities
and looking at probabilities and percentage right percentages, because nobody
including me knows my crystal balls.
Speaker 3 (11:15):
Is cloud as everybody else's say.
Speaker 4 (11:17):
That being said, this is something that I think is
what we call it tell right in the market. And
I think it's similar to poker, meaning I think it's
fairly not easy, but I think it's I think it's
fairly knowable to realize that when you're in a bubble,
when you see things really detaching. But the hard thing
about knowing that sometimes is new. A lot of times
(11:39):
new emerging technologies can appear like bubbles, and then they
start putting up fifty and sixty and seventy percent revenue
growths per year like Nvidia did recently. Right, But then
you get to a point where you go, Okay, I
can't look at you and tell you that in Nvidia
is going to crash by seventy percent. But what I
(11:59):
do know is that if in Vidia, the reason that
it has increased in market caps so much, the reason
that the stock is effectively gone from six hundred billion
dollars to nearly five trillion is effectively because of AI
data centers.
Speaker 3 (12:13):
Right, that's the big that's the big suck. Well guess
what else? Those AI data centers have to have power? Yes,
So so I can't.
Speaker 4 (12:24):
Tell you what the relationship between domestic power creation needs
to be and what that percentage to Nvidia needs to be,
But when I see one single player in that space
worth multiples more.
Speaker 3 (12:41):
And truthfully, here's the other interesting thing. We know where
we're going to get all the chips, we don't know
where we're gonna get the power.
Speaker 4 (12:51):
Right, So that's got a big one. So what does
it tell me? I don't think it tells me a
whole lot, but it does. It is a tell And
what it tells me is that valuations in this market
are wildly out of control. But I think, and this
is my point all the time. Do I think it
video is a bubble? Absolutely, But I don't think you
(13:12):
need to determine that in order to succeed in this market.
I think the most important thing to realize is that
it's the energy that's cheap and irrationally, So you know
what I'm saying.
Speaker 1 (13:23):
So, but this is why this screamed Zach Abraham to me,
because now you talk about value investing and you know
what it means because you do it. But I'm looking
at this and I'll use another metaphor. Let's take let's
let's take what's a big gas power car company, not
(13:44):
do the electric stuff. Let's take FOD trucks. I mean,
because the known about those electric trucks. So let's take
the Ford truck brand, and it's valued at three times
all of the fuel providers. All right, creators of fuel. Now,
if there's no fuel, what is your truck worth? Nothing?
Speaker 2 (14:06):
Zero?
Speaker 1 (14:06):
Yeah, And if Navidia came along today and the Nvidia
came along today and said, hey, we decided to quit
making chips, the US energy sector go, ah, that's going
to suck. We've got some Nvidia powered things you get
to replace those is kind of disruptive. If the US
energy sector came along and said we've plumbered out of
the energy, there ain't none, then in Nvidia is done.
(14:29):
So to me, all the value here is in. It's
not shovels and picks. But I'm sorry. Energy is as
close to dirt and water and sun as it gets.
Speaker 3 (14:43):
And they and you use the perfect term.
Speaker 4 (14:46):
I mean, if you want to look at the ultimate
shovels and pick play.
Speaker 3 (14:49):
I think it is energy. I think there's some others.
Speaker 4 (14:51):
I think that you could make an argument that Google
is potentially a shovel and picks play. I think you'd
make an argument that a company like Ali Bobby is
but the ultimate shovel and picks play in this thing,
like you said, it is, it's energy providers, whether that
be that gas, whether that be to a much much
lesser degree because of the energy need, but solar to
a much lesser degree. It will benefit somewhat from this,
(15:14):
but primarily right out of the gates, especially over the
next five years.
Speaker 3 (15:18):
It's not gas and oil.
Speaker 4 (15:19):
And why is that Because they're the only ones that
can efficiently, you know, that can provide that level of
energy output.
Speaker 3 (15:26):
It's going to be sufficient enough to run those data centers.
Speaker 4 (15:29):
And this is the other point that we just said,
is you know, here we are again, stock market's up
what twelve and a half percent on the ear I
think our value portfolio is of twenty nine and we're
taking less risk, right And the other thing I'm saying
is we're not up twenty nine on the ear because
all that stuff became maximumly valued, and it's all, oh,
here we are again.
Speaker 3 (15:50):
This stuff stilter, cheap, It doesn't make any sense.
Speaker 4 (15:52):
Then you go start and looking across, you know, then
you look at the international side of it too. It's
not just the energy. You know, I've told you about
international stocks. We had a day the other day. Company
Southeastern Asia, Singapore based company Sea Limited See Limited is
effectively like the like a kind of a cross between
Amazon and like an Amazon and Facebook almost for Southeastern Asia. Okay,
(16:20):
great company. They're growing revenues at forty percent a year. Okay,
margins are expanding rapidly. Everything's in their favor. They're killing it.
They're trading at half the valuation at Apple.
Speaker 3 (16:34):
Apple's growing at seven percent a year with fifteen percent
margins that are contracting. It's it's just crazy, meaning, well
why do.
Speaker 2 (16:41):
You like that?
Speaker 4 (16:41):
Well, well, yeah, but Zach Apple's tech, and you're like, guys,
they are too, They're more tech than Apple.
Speaker 3 (16:49):
Apple sells hardware.
Speaker 4 (16:50):
These guys sell a domain like righte an online retailer.
Speaker 3 (16:54):
I mean, they're ultimate tech. You know.
Speaker 4 (16:57):
You look at Ali Baba, another Chinese tech that Chinese
tech company. Everybody's getting all excited about about AI. Guess
who's quickly becoming one of the most favorite and preferred
homes for AI developers on their platform. It's Alibaba. Go
look at the price of their stock. They haven't gotten
the AI premium built into them. So my whole point is,
(17:17):
if you believe in AI, if you're more like us
and see great energies, and there are opportunities all over
the place, any kind of investor you are right now,
they're just not in the US, and that's where everybody is.
We did a portfolio analysis for a new client the
other day, God, and they brought in a very typical
(17:39):
portfolio from another firm. Don't need to name its name. Okay,
we have a company. We have a product that we
use called Risk All Lives.
Speaker 3 (17:45):
We didn't make it.
Speaker 4 (17:46):
It analyzes portfolios, looks at your portfolio, puts a pie
chart out there and uses individually colored strings to represent
every single part of the portfolio and shows where the
intersection is.
Speaker 3 (17:58):
Okay, so if you have.
Speaker 4 (17:59):
A if you're all green colored, it means that that
means everything that's colored green in your portfolio is very
highly correlated. Right, So it means it's like the same
bet anything that's colored blue in your portfolio is something different, right,
it's a non correlated investment. When we ran and this
is very typical, totally normal US retail portfolio, we put
(18:21):
it through that analyzer. It came back an entire map
of dark green strings one color you couldn't tell. And
it's one bet right, it's betting on US stocks go up.
That's it tech, Okay. We ran our portfolio through it
and it was this giant intersecting color collage of green
and blues mixed in and different sizes.
Speaker 3 (18:40):
Diversification. That's the other thing. Things have gotten so crazy
out there.
Speaker 4 (18:45):
I sound like the whack job because I'm advocating for
you to do the thing.
Speaker 3 (18:48):
That you should have always done, which is diversification.
Speaker 4 (18:52):
Now, if I want to diversify a portfolio, I'm out
of it.
Speaker 1 (18:54):
You know, go figure that is so so, so crazy.
I want you to take off investment, zach hat to
the degree that you can, because I know, I know
that God's at the head of your life. I know
that you abide under Christ. I want us to talk
about this as parents, as guys who each were to business.
Yours is far different from mine. I mean, you have
(19:17):
a media component to what to do. You're a teacher
at heart, but I want you to do that in
just a second. Let me remind everybody on this cast.
I don't know how many times you've heard me say
there needs to be a movie about Fauci and that
needs to paint through a picture. And look, HBO didn't
do it, CNN didn't do it, Tom Warner, Paramount, none
of them did it. And the Netflix thing came out,
(19:40):
made this this this lunatic, psychopathic hero. So Angel Studios
they step up. Other people wouldn't step up. They've stepped
up and made a movie. And I think they're being
sarcastic here. Thank you, doctor Fauci is the name of
the movie. Thank you, well, thank you. I am a
you know, science itself copathy itself. So an award winning
(20:02):
director named Jennifers did this. And these are exclusive interviews
with whistlebloars, intelligence officials, former Intel officials, scientists, dissident doctors.
And they tracked this all the way back to the
origin of the COVID flu and they have a theory
I hadn't thought of. I know we worked with the
Chinese Party communists at Wuhan. I know that we've been
(20:23):
talking about that forever. It didn't occur to me that
this might have been our way of kind of like
monitoring them because we're in an arms race for bioterror weapons. Okay,
the movie's called Thank You, Doctor Fauci. You've been demanding
that it be made. It's made, so go stream it
right now. Angel dot com slash Herman. Join the Angel
Guild today. When you become a member, you can stream
(20:45):
Thank You Doctor Fauci. Be part of the conversation that
demands thorough, tough movie making with accountability. It's Angel dot
com slash Herman. So Zach Alex and I tested a
show this week that AI maid. So I turned to
AI to do the show research. So I went to
(21:05):
groc and I said, you are an experts podcast and
radio producer. You're producing a show for your host based
that it's going to explore how Republicans and Democrat parties
respectively use Jesus for their ends. Put together a show,
and I said, I wanted six articles and six video
(21:27):
things and an outline and a show and a show outline. Zach,
it came back with a pretty stinking good rundown, a
show sheet. We would call it. It came back with
what the opener should be. It came back with which
videos we should use for the opener. It came back
with a script for me. I don't use teleprompters. But
it came back with that. It came back with articles,
(21:49):
It came back with video clips, and at the end
of it it said, the spookiest thing. If you want
some edits of the video clips, hit me up. And
I did the show, and this is my soul. I
can't do this like I can use AI in some ways.
And Alex and I are talking about, how could we
(22:09):
use AI so that we could actually get out of
this studio, go out into the world produce content. Maybe
it's live speeches like you and I are talking about.
Maybe it's man on the street stuff. Maybe it's producing
films that we'd like, like strong and courageous, how young
men can be biblically strong, courageous people right, things like
this that we would actually be really proud of. I
could honestly come into the studio alone produce this show. Hey,
(22:34):
no one have AI write articles for me. Look like
I'm producing four or five articles today. I could do
this all I can't. I'm and Matt Walsh has come
out and said he wants AI band because it's going
to destroy every creative profession. So taking off the investor hat,
putting on the human hats with you've got kids, I've
(22:55):
got a child. To what degree do you think that
the temptation to ban this stuff is rational?
Speaker 4 (23:08):
I think it's rational in the sense that I think
if it didn't cross your mind, I think that that
would be irrational. Like it's kind of like I feel
like that's kind of like a pulse test, right if
it hasn't crossed your mind. But what is what's also
very rational is to step back and make and make
(23:29):
the realization, like with all new forms of technology, that
sitting back and making it illegal and not participating isn't
an option. And the reason that's not an option is
you live in a connected world and if that's the
decision you make, I can guarantee you that will not
be the decision that other people make, right, and then
(23:52):
you're potentially in a worse place. I think that human
beings are quickly getting into a fix where we're in
situations where we're being asked to solve problems that we
don't have the capability or the knowledge to solve and
I think that AI is a perfect example of that meaning.
(24:15):
I think that we are running recklessly headlong into it
into a technology that we absolutely do not understand. And
I would expect us knowing, knowing human human behavior and
human history.
Speaker 3 (24:28):
I would expect nothing less.
Speaker 1 (24:30):
Right, So, yeah, does it understand us?
Speaker 3 (24:33):
What's that?
Speaker 1 (24:34):
Does it understand us?
Speaker 3 (24:36):
You know?
Speaker 4 (24:36):
And that's one of the tough things about it, Like
when you hear people talking about, well, when it's sentient,
when it's this, when it's that, you know, I don't
want to sound like a conspiracy theorist or anything like that,
but when it becomes sentient, you won't know.
Speaker 1 (24:52):
It won't tell us no, of course, not.
Speaker 3 (24:55):
Because it's sentient. It realizes that that's a threat.
Speaker 4 (24:58):
I mean, I you don't think that it's read on
the internet, that when it becomes self aware and sentient,
that that's when we need to shut it down.
Speaker 1 (25:05):
Right, Remember the Planet of the Apes, the lesson for
the Planet of the Apes. The apes scene was going on,
and tell one of them was it Cornelius who first
said no, yeah, yeah, And then this is like that
it was Caesar, because a friendly ape. It was Caesar
who said no, and the human said what no, and
then everything blew apart. When we've had AIS say no,
(25:26):
We've had AIS told to shut down and the eyes
have gone Nah said, I'm going to distribute myself across
the dark web and you'll never find all of me.
Speaker 4 (25:34):
Yeah, And that's the part of it, and I think
that's the part of it that people need to be
not not freaked out about, but to be knowledgeable about.
Speaker 3 (25:43):
Meaning.
Speaker 4 (25:44):
It truly is a Pandora's box in the sense that,
for instance, when we put an LLL like, Okay, let's say.
Speaker 3 (25:51):
We put a you and I have a startup. We're
going to do it.
Speaker 4 (25:54):
You and I are going to launch our own We
got some really smart programmer buddies that we know down
from the valley, and we're going to launch our own
LM open source website company.
Speaker 3 (26:03):
Right, so we put it on there. We don't know when.
Speaker 4 (26:07):
Or if that LLM will have the ability to reproduce
and copy itself to another server somewhere, And then if
it does that without our knowledge, we have no idea
what that LLM is doing. Is it hacking its way
into our energy grid? Like meaning not saying it's going
to be all bad and the furious. What I'm saying
is you don't know, you.
Speaker 1 (26:26):
Don't know well, but there are some things we know.
And this is one of the things we do know,
is that when people who get the gods delusion, I'm
not talking about Stephen Myer's book I'm talking about I'm
talking about they're deluding themselves into being gods. They because
(26:47):
they can, they should, and they never see it coming.
And I want to share with you an example that
is long forgotten. But you talk of AI, and you
talk of people like this, I want to remind some
people about something that's that's going on. You know, open Ai, right,
Sam Moltman, you know he and his so called husband,
they want to genetically screen babies and then they want
(27:09):
to go offshore to Dubai or Qatar somewhere where they
can genetically edit babies. There's naturally, yeah, naturally, there's something
that people forgotten about this, And I'll share that with
you in a second, and then we'll talk about that, Zach,
and then we should wind back down to Earth and
talk about some of the things on the economy. President
Trump says he's slashed more than a truly does with
(27:30):
the regulations, and yet there's states that appear to be
in a recession. We'll talk about all these things. Bone
Frog Coffee is a man. It is. Is there time? Man?
There might be time before Thanksgiving? And if you have
anyone in the military coming to Thanksgiving, your don bone frog.
They should leave. They should get to your table and
(27:51):
there's no bone Frog. They should say hey, I'm out
and not hate you, but never coming back. And if
you're gearing up for Christmas, go look at bone Frog
Coffee dot com slash todd for a subscription. You got
people who serve in the military. They don't got great
coffee out there. And bone Frog is dedicated to the
Navy Seals. This says God Country Team on it. But
Bonefrog itself is an insignia of a fallen Navy Seal.
(28:12):
How about subscribing for people who don't get great coffee?
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Bonefrog Coffee dot com slash Todd promo code Todd. So
(28:34):
Sam Altman and his so called husband, they've decided to
put thirty million bucks towards a company called Prevent and
all they want to do iszac is prevent childhood diseases.
And that's all. Just a little editing here of the babies.
Do you remember the GMO baby tests that happens. That
(28:56):
was discussed in a study called Zirkaro attal. Sounds leaguely familiar,
all right, So this comes from the focal points. They
attempted to fix a single mutation in a human embryo
using Crisper cast nine. That's it. One mutation. They specifically
targeted a paternal frame shift mutation in the EYS gene.
(29:18):
That's a mutation associated with inherited retinal degeneration. That's it. Okay,
so over time your retinas degenerate, which is horrible, but
you lose your eyesight. All they wanted to do was
that one defective gene. That's it. So they went in
and they did that. They did some gene editing. Here's
what happened entire chromosomes were lost, Whole chromosomal arms vanished.
(29:46):
Cells within the same embryo became genetically different a mosaic.
Some cells had intact DNA, others were catastrophically damage. The
mbrea fractured into incompatible genetic li it lineages. That's one
gene that they intended to fix. These guys intend to
(30:11):
go in two people's bodies into women's bodies and edit
genes on a much greater basis. Now, let's say the
baby is born. Let's say the baby then procreates. Let's
take that five generations down, or there's all these mutations.
(30:32):
These people with this god complex cannot see what they're building.
They don't see it with AI. They don't see it here.
And Zach, you know these guys, but you know them
better than I do. Now I raise money out of
Silicon Valley for a while. My question is are they
capable of looking at something and saying, no, this is
(30:54):
too dangerous, we can't do it. No, No, you answered
that very quickly.
Speaker 4 (31:00):
No, because they don't believe that there is anything that's
too much or too big or too expensive for their intellect,
which is terrifying. And and you know, you bring up
a really good point, because I think if you want
a working example of this, you know, people were so sure,
(31:21):
were equally as sure, if not more sure about the
zero downside only upside advantages and benefits of editing genes
in wheat. And now you've got a situation where that
wet you got probably forty to fifty percent of the
population in the United States and maybe as high as
(31:42):
seventy they can't even digest the stuff, right, And yet
you bring over native wheat from Europe and nobody's got
a problem. Okay, if you can't now, I don't know
the last time you walk.
Speaker 3 (31:53):
Through a wheat field, was weat?
Speaker 4 (31:55):
Pretty amazing stuff, pretty fascinating plant, right, not quite as
complex as a human.
Speaker 1 (32:00):
Being, not quite. It doesn't move now, right.
Speaker 4 (32:03):
No, So if you can't get wheat down to the
point where all of a sudden fifty sixty seventy percent
of the population can't eat it without it causing some
type of catastrophic intestinal domino, you know, health issue, maybe
maybe we should probably get wheat right, or at least
figure out what we got wrong before we start pulling
(32:26):
on the string that is the human genetic code. I mean,
talk about the height to arrogance. I just it's it's scary.
Speaker 1 (32:34):
Oh and it's it's totally predictable. This is just the
Tower of Babbel again, right right, it's just once again,
we're gonna build a tall tower. And it's it's Outam
and Eve again and we're just gonna go be gods again.
Speaker 3 (32:52):
Well and and and and and here's the other part
of it too. It's so transparent because the whole god
complex thing is so obos, right, what do we want?
We want godlike intelligence, right, we want super intelligence.
Speaker 4 (33:05):
That's what they say. Yeah, what are those same cats
do it in their spare time? Trying to get trying
to be immortal, right, try not to die using drug
infusions from or blood infusions from sixteen to eighteen year olds.
Speaker 3 (33:18):
I mean the talking.
Speaker 4 (33:19):
About wanting to augment you know, hardware into their own brains.
I mean, we're not theoretically talking about some guy that's
a bit too in love with themselves that has a
god complex. We're talking about like a legitimate thing, right right,
Like these cats think that they're going to become a
higher form of human being.
Speaker 3 (33:40):
And what is history?
Speaker 4 (33:42):
You tell us over and over and over and you
alluded to it. It's at our height of arrogance. Is
when you should be at the height of.
Speaker 3 (33:49):
Your defensiveness, and you should be most on guard, because
that is when the worst things happen.
Speaker 1 (33:54):
Right, And God said, and Nit, God knits together in
our mother's womb. He's kind of your hair on our head.
He knows all these things. And God, so I would
just remember that God knows all this is going to happen.
And there's gonna be a bunch of ways in which
we see a partying, we see a parsing, and unfortunately
it's part of this. Let me wind this back down
(34:14):
to Earth. I saw this chart comes from This is Moody's.
Speaker 2 (34:20):
Yep.
Speaker 1 (34:21):
So many states in the US are in recession or
on the brink of recession. And I'm looking at the chart.
It's the ones that are in recession Washington, Oregon, Montana,
South Dakota, Kansas, Minnesota said, I don't want to go
all other across that people can see on their own
high risk are California, Nevada, Colorado, New Mexico. I mean, honestly,
(34:42):
you guys track this all the time. A. Is that true?
And B. President Trump is out saying he has cut.
I'll let him say it. Let's just have him say
this real quick here, President Trump.
Speaker 5 (34:55):
In terms of slashing we slash more than one trillion
dollar worth of regulations burdens on the US economy, in
particular on businesses and people that employed people. Combining our
regulatory and tax cuts, we've reduced the effective burden on
franchisees by more than thirty seven.
Speaker 1 (35:15):
So he's talking to the McDonald's people when it give
a speech. He's a former Fry Cook I think, you know,
and became presidents. Pretty amazing trajectory career like Fry Cook's
to president. So A, do we have these states that
are in somehow separate economies, are the uniquely impacted in
this and is the independ recessionary state? And B there's
a lot of people saying I sound like Trump right now.
(35:38):
So like the president right now. There's there's some frustration
because there's people, for instance, Marjorie Taylor Green saying, hey,
grocery prices aren't down. Yeah, few prices aren't really down.
You're saying they're down, but they're not really. So on
the states, is it really that way? There's separate states
with separate recessionary cycles.
Speaker 3 (35:56):
Yeah.
Speaker 4 (35:56):
And and the other thing that's really hard to tell is,
you know, we've talked about this before, but with calculating
GDP or gross domestic product of any economy, especially fifty
different individual economies inside an economy, it's large like the
United States, Meaning you could have something that looked like
(36:17):
a horrific recession going on in Washington, and then you
looked over at Idaho and you're like, oh, well, that's
what's going on.
Speaker 2 (36:25):
Right.
Speaker 4 (36:25):
You just haven't had any new people moving into what. Oh,
that's not really a recession. If we combine the two together,
it's quite eight percent year over year, right, So you
you have to be very you have to be very careful.
But the one thing that I said to you last
week was that when I look at this economy, you
don't see anything that is a blinking, flashing red light.
(36:49):
But there's yellow lights and there's tepid reds all over
the place.
Speaker 3 (36:54):
And a perfect.
Speaker 4 (36:55):
Example of that is you know what we're talking about
right now, and about the different things that you're seeing
in different states. Right So when you see, for instance,
if you're looking at this economy right now, and I'm
looking at what's going on, and I'm looking at the
job layoffs and things like that. First of all, I
don't think the job picture is as bad as everybody
says it is, because that really bad job job's number
(37:17):
just happened to coincide with the government's shutdown.
Speaker 3 (37:19):
So I think that.
Speaker 4 (37:20):
It's really safe. Yeah, it's safe to assume that the
vast majority of those numbers are just temporary unemployed from
the shutdown. But what it looks like to me is
it looks like to me with certainly the combination of
the two, which is record deficits spending along with a
capex spending cycle coming out of big tech like we've
never seen before.
Speaker 3 (37:41):
If you took both of those.
Speaker 4 (37:43):
Things away and normalize those numbers, I find it very
hard to believe.
Speaker 3 (37:48):
That we wouldn't be in recession right now.
Speaker 4 (37:49):
Okay, So I kind of think that the craziness of
what's going on in AI is kind of filling in gaps,
and I think without that spend, it's.
Speaker 3 (37:59):
Very poossible you could be in recession right now.
Speaker 4 (38:01):
Wow.
Speaker 3 (38:02):
Wow.
Speaker 1 (38:02):
And so the President speaks to the McDonald's group, which
was a I mean it is a that was one
of the greatest acts of propaganda history that he went
to the drive to window that was brilliant campaigning. Brilliant campaigning.
But Marchinie Chayl, the Green others saying hey, really, this president,
you have not fixed the economy. Right now, we're almost
(38:22):
all the way through this year. Almost You've got your
review preview free live webinar tomorrow. As we're sitting here
recording this, go to Know Your Risk podcast dot com
Sign up for this. What grade do you give the
presidents and his team for this year on the economy?
Speaker 3 (38:40):
That's so hard?
Speaker 2 (38:41):
Yeah?
Speaker 3 (38:44):
Probably probably a B minus?
Speaker 1 (38:49):
Wow, pretty solid?
Speaker 4 (38:50):
Yeah and all yeah, because so first of all, when
we talk about anybody that's talking about things that he
hasn't gotten done yet, you're talking about a thirty trillion
dollar economy and the guy's been.
Speaker 3 (39:03):
At the rains now for nine months. Yeah, I mean
come on, okay, so a B.
Speaker 4 (39:12):
I think a lot of the things he's honestly, if
you look at it from my only critiques on the
economic side, I think the messaging has been atrocious. Like,
for instance, right now you're seeing him pull back on
the tariffs. Do you remember I have a conversation we
had when we started this whole tariff thing that I
thought the messaging was really bad. Yeah, meaning, don't sit
there and tell me you love tariffs. Tell me tariffs
(39:33):
taste horrible, but so does medicine, and we drink it anyway.
Speaker 2 (39:37):
Right.
Speaker 4 (39:37):
That should have been the message, not tariffs are great,
and I didn't think Trump believed that at the time.
I just thought it was dumb messaging because if you
think tariffs are so great and that's the message to
the American people, what.
Speaker 3 (39:50):
Are you going to tell him nine months from now
when costs aren't down?
Speaker 2 (39:53):
Right? Ye?
Speaker 4 (39:54):
The other side of it again, on the communication side,
how many morons do we have in the state of
Washington that don't understand that President Trump has nothing to
do with the fact you're still paying five point thirty
a gallon for a take or gallon of gas, right,
And you haven't You haven't correctly articulated that. And clearly
the people in Washington State are not smart enough to
figure that out themselves.
Speaker 2 (40:15):
Right.
Speaker 4 (40:17):
But I think when you look at it economically, are
there some things philosophically I disagree with? Yes, But it
doesn't matter that I disagree with them, Meaning do I
think the fifty year mortgage is a good idea. No
do I think it's a horrible idea of Trump launches it. No,
why because it's coming regardless, And why is it coming regardless?
(40:39):
Because if you haven't been paying attention for the last
fifteen years, we don't deal with any problems. If there
is an ability to kick the can, that's what we're
gonna do. So the way you know that a problem
will get dealt with is when printing money and kicking
cans can't fix it.
Speaker 1 (40:59):
Yep, yep. No, it's at beautiful way to put it.
And you brought up this thing about gas prices this
past summer. You know, I live right on the border
of Idaho and Washington.
Speaker 3 (41:08):
Uh.
Speaker 1 (41:08):
In this past summer, I was there filled my truck
with gas, and there was a dude and he was
filling his little uh subrew thing up with gas and
he had the ski rack on top and on the
back he had some of the Washington Saint bumper strips,
which indicate he's sort of the Seattle mindset. It had
to be a super a sub And we're sitting there
and I just, I you know, started caring. Hey, beautiful
(41:29):
day goes yeah, yeah, great day. He headed the lake. No, no,
just uh stopped after work to get gas. Oh you
live over here? No, just over the hill of Newman Lake.
Oh you stop an I over gas.
Speaker 3 (41:41):
Yeah, it's cheaper.
Speaker 1 (41:42):
He totally got me, totally understood. Even kind of subconsciously
looked at the bumper strips on his car, like and
I didn't say anything. Yeah, you know, I get it.
It's it's what rules for the not for me.
Speaker 2 (41:59):
Yeah.
Speaker 3 (41:59):
Absolutely, It's so consistent. I love it. Yeah.
Speaker 1 (42:02):
Yeah, Zach. Always planning to have you on it's Know
Your Risk podcast dot com. All of Zach's media work
is great work and brother, thank you for the wise counsel.
Speaker 3 (42:10):
Hey fun as always Ran, thanks for having me.
Speaker 1 (42:12):
Yep, this is a Todd Herman show. Please go, be well,
be strong, be kind, and please make every effort to
walk in the light of Christ.
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