September 25, 2025 • 23 mins
Hosts Dave Conley and Jerremy tackle America's mounting socio-economic pressures and political divisions in this raw discussion. From public backlash over Charlie Kirk's death and misused Nazi labels to the sting of tariffs, soaring credit card debt, and unemployment, they expose economic fault lines. Ethical red flags in AI advancements emerge via Sam Altman's insights, while Congress's secretive grip on Epstein files erodes trust. Jerremy pushes for income-based gambling regulations to curb harm, wrapping with warnings on international conflicts and U.S. isolationism.
Timestamps:
- (00:00) Clips from Current Events 1-2
- (11:47) Automating Business Processes
- (12:15) Epstein Files Controversy
- (15:30) AI and Moral Frameworks
- (19:43) Gambling and Economic Impact
📢 Solving America’s Problems Podcast – Real Solutions For Real Issues
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Alex (00:00):
Dave and Jerremy grapple with the glee some felt over Charlie Kirk's death,
calling it a sign of lost humanity.
They push back on casual Nazilabels as dangerous devaluation.
But the deeper dive reveals broken mendriving national divides—how does that
fracture everything from rights to unity?
Dave (00:19):
Let's, since we're already doing it, let's flip over to, uh,
to sort of the economic stuff,the, uh, FOMC meetings this week.
Things are, you know, like thingsare funny in the economy, right?
Prices are going up, probablytariff related, but economies
having some issues like credit card.
Credit cards are, are,you keep on going up.
(00:41):
As far as issues like there's,there's clearly some stress, you know,
there's unemployment, particularlyfor young people, that's an issue.
Immigration is probably pushingsome, some levers on the jobs data.
There was a big revision there.
People make money when things arevolatile, but people don't make money
(01:01):
if everything's like really volatile.
Right.
Jerremy (01:05):
Yeah.
The majority of the people will not.
That is correct.
You're absolutely
Dave (01:08):
Yeah.
Jerremy (01:08):
So when things are really volatile and really
tumultuous, you Correct.
The majority of people will notmake money 'cause they're scared.
Volatility just in essenceshould, and it should, but it
does generally scare people.
But that's, if they don't know thedirection, Volatility when, the
direction isn't nearly as scary.
That's because, like a plane, right?
People are gonna take aplane versus take a bus.
(01:29):
'cause
Dave (01:30):
Yeah.
Jerremy (01:30):
it's faster, but faster is by definition, volatility and velocity.
So as long as people know where it's goingand they have some information tied to it.
I think it'll be perfectly fine.
The reason I don't think that we'retruly in a bubble right now, personally,
let's call it an asset bubble or stockbubble, is because earnings are going up.
(01:50):
Now, are we priced high?
Too high?
Yes, I think so.
But earnings are going up and that isbecause people are making more money.
And that is because companies are ableto reduce a lot of employee workforce.
That is because of a lot of software.
Sure, ai, certain tools are comingin making other jobs faster and more
cost effective and therefore companiesare making more money right now
(02:15):
that's why stock prices are going up.
But at the same time, if people dohave investments into stocks, 4 0 1 Ks,
IRAs, retirement accounts, so on and soforth, they're probably at this point,
most likely doing really well or atleast decently well, they're feeling it.
And so then they're spending and theyfeel safer and they're buying more things
and more people buying more things.
And you have a littlebit of tariff pricing.
(02:37):
Prices are gonna go higher'cause you have more demand.
It's all very interesting.
But with gold at all time highs,the stock market all time highs,
pretty much at all time highs.
Silver, getting back tosome of its all time highs.
It really is quite interesting to me whatis gonna take that tipping point over.
And I'm really truly at this exact stage,not entirely sure what it's gonna be.
Dave (02:59):
Reed who we're interviewing this week.
It's going out right now.
He said something that's reallystuck with me, which is Hey, you
know, these politicians, like,they don't affect your life.
This is Tyler.
He's like, man you havethe most control over you.
Like these politicians, they mightjust like affect you, just like
this little itty bitty stuff.
FOIA meetings coming up.
(03:20):
I think a lot of peoplejust get focused on that.
Like, is that gonna affect us all?
Like stock market?
Sure.
That affects a few morepeople tariffs and inflation.
That affects everybody.
What do you think are the, the biglevers or big, what are people feeling?
What are Americans feeling rightnow as far as their pocketbook
goes, or as far as the economy goes?
Do you think it's sideways, up, down?
(03:42):
Like what?
What are people, what's the vibe?
Jerremy (03:45):
I feel like the majority of individuals are mostly stressed right
now about the cost of food and housing.
Dave (03:57):
Yeah.
Jerremy (03:58):
these are the two really big ones.
Because ultimately man, like boy, oh boy.
It is expensive out there.
Mean a trip to the grocery store isgonna run you 250 bucks for yourself,
Dave (04:14):
yeah,
Jerremy (04:15):
a
Dave (04:15):
and you have a hungry family too.
Jerremy (04:16):
Yeah.
Dave (04:17):
Young boys.
Jerremy (04:18):
Yep.
For a week of food.
And then, all right, sonow the cost of housing,
Dave (04:22):
Yeah.
Jerremy (04:23):
we have more demands, we have more people coming.
We have a population that'sgrowing meaning our teenage
population is really growing, sodemand for homes is increasing.
Dave (04:33):
Yeah.
Jerremy (04:34):
yes, you definitely have immigrants into the country.
But that's a very small number,relative to people that need housing.
Is, it's just a shortage.
And then with the interest rates andthen the cost of everything, I think the
people right now, the majority of thepeople, the biggest stressor, I'm not
gonna, I won't use this as cannon foddertoo often, but I did probably watch,
(04:54):
without exaggerating a hundred hours ofCharlie Kirk videos this weekend really
to dial in on like, why did people vilifyhim so much and why did people hate him
Dave (05:03):
Yeah.
Jerremy (05:04):
So I can't figure that one out.
But one
Dave (05:06):
Right.
Jerremy (05:07):
one of the things that he did mention that is broken in this
country, and he did directly mentionright, our president as someone that
could fix it although he won't is thehusband taking care of the wife and like
saying, Hey wife, if you don't want towork, have to stay home with the kids.
(05:30):
Raise them if you want to,if that's what you wanna do.
of the interviews that Charlie wassaying was, I don't believe that
we should live in a country wherethe man and the wife, in order to
afford life, have to go to work.
goes, that's a broken system.
And that is exactlywhere we're at right now.
100%, like for a couple tohave more than one child.
(05:54):
Both.
Both parents have to work unless one ofthose parents makes over $120,000 a year.
And I would say that's probably like an89% of the cities in the US and there's
probably a very small portion wherethat's probably not exactly accurate.
But it, by the majority, everyone ofour listeners probably feels that pinch
(06:15):
because again, more than one child, right?
So if you have two kids and oneperson's gonna stay home at work.
mom or dad, right?
I know a dad that stays home, butmom or dad that's gonna stay and take
care of two or more kids full time,the other individual has to make
at least $120,000 a year minimum.
And that's that's a challenge, man.
(06:35):
That's just a challenge.
Dave (06:36):
Yeah.
Jerremy (06:37):
So I think that's
Dave (06:38):
Whereas,
Jerremy (06:39):
the vibe.
Dave (06:40):
And not too long ago, we're talking, like my parents you make jokes.
I'm so old.
I'm only, like I'm atI'm early fifties, right?
Like we're only a few years apart.
Come on.
But.
But in the seventies and theeighties, you could have a
single Breadwinning household.
You didn't have to, likewomen were in the workforce.
Um, and you afforded agood middle class life.
(07:04):
And you might even have likea, a vacation, you know, place.
You'd definitely be able to go ongood vacations with your family.
You didn't have a lot of nos.
You had a lot of options, andnow it's not a lot of options.
Your money's going out the door.
It's going to food, it's going tohealthcare, it's going to, housing,
and there's nothing left over.
(07:24):
And so you need more and more people.
Jerremy (07:27):
What you just said over there.
I was like, nah, dog.
That's a quarter million dollars a year.
And your spouse has a side hustle to
Dave (07:34):
Just to do the life that was in our, my lifetime,
Jerremy (07:39):
yep.
Exactly.
And to do the whole, and again, op pairI don't wanna send my kids to school.
I wanna have constant childcare inour home 'cause I don't wanna drop 'em
off 'cause I don't trust or whatever.
Dave (07:53):
Yeah.
Jerremy (07:53):
you're talking 300,000 and then that's probably net.
say net, that means now that'sreally after taxes because, so
it's a very interesting situationand how do we really solve that?
The fortunate slash unfortunate partis, I do think it's gonna be education.
(08:13):
Meaning, meaning I think it's gonnabe a more focused on the discussion of
how does one outrun an asset inflation?
And the short answer for all of ourlisteners is create more asset inflation.
That's how you outrun it.
Meaning you, you outasset inflate the asset.
(08:35):
Assets that will inflate faster thanwhatever asset that you need to outrun.
Yeah.
Housing costs, food costs.
So that's what I've done in my life.
And I did that with the stock market.
So I said, Hey, the stockmarket's gonna move very quickly.
These stocks might move 50% this year.
If I put a hundred thousanddollars into the stock and
it moves 50%, I make $50,000.
(08:57):
That $50,000 of movementis an asset inflation.
That's what it is.
The price has
Dave (09:04):
Yeah.
Jerremy (09:05):
So if I, my cost of living is $50,000 a year and I make 50,000
trading in the stock market now,anything else I make on top of that?
That's the short answer is like you haveto do a faster asset increase to outrun
Dave (09:19):
Run faster.
Yeah.
Jerremy (09:20):
Need to learn how to do that through school
and through proper education.
Now second point of that is, Ithink the only real reason, the
only real way we do have a bigfinancial reset like we did in 2008.
not calling for that.
I don't want that to happen.
I realize that with every 1%increase of unemployment suicide
(09:42):
rates and murder rates and likejust poverty, every 1% increase.
It's a pretty dramatic number tothe bottom line of individuals
that are directly impacted.
that will happen at some point.
'cause that is human nature, right?
There is boom bus cycles.
And within the next 10 years, wewill have another large one, a
50% plus big market correction.
(10:03):
But then after that marketcorrection, we will have the
strongest 30 to 50 years in history.
And it'll be extremely powerful.
And I think that the gap willstill get wider and instead of
the top 1% being the top 1% willbe the top 2%, maybe the top 3%.
And in 50 years, Dave when we're all50 years older, 50 years from now, I
(10:26):
could easily see a normal car costinghalf a million dollars a house costing.
Three and a half, four, $5 million.
There will be more millionairesby a magnitude, except being a
millionaire will be relativelyrelevant because you'll also have
over 10 trillionaires 50 years, you'llhave tens of thousands billionaires.
(10:51):
You'll have hundreds ofthousands of billionaires, right?
And so money will just be more, andso things will cost more valuations
will be more, the Dow Jones and 50years from now be well over a quarter
million, well over a quarter million.
And this is a really good chance.
It'll be at a million that might takea hundred years, but it, that's coming.
(11:15):
And right now, this exact moment, thisexact recording, the Dow Jones is at the
highest price ever at 45,000, 46,000.
Dave (11:21):
Wow.
Jerremy (11:23):
I'm calling for it to quadruple or sepal in 50
years, but that's gonna happen.
Yeah man, so there it is really,uniquely interesting and again, that's
just my theory from an economist orwhatever you wanna call me someone
who's just aware of the markets.
But I do believe that the way to shrink inthat gap sure is really proper education
(11:44):
around all things money and all things
Dave (11:47):
Yeah.
Jerremy (11:47):
and all things inflation and all things like, here's
how one can speed up processes.
It doesn't mean it has to be anautomated online coaching business.
You can absolutely own a car wash andjust crush it for the next 50 years.
You can do very well in car washes,but you're gonna have to figure
out how to automate some things.
You're gonna figure out how to makeyour margins a little bit better and how
(12:08):
to decrease costs a little bit better.
And so all those things aregonna have to be conversations.
Dave (12:12):
Nice.
Alright, let's switch some gears.
Jerremy (12:14):
let's do it.
Dave (12:15):
Some things that didn't show up last week because the world
got blotted out by one thing.
Epstein files, they were voted on lastweek by Congress and it was voted down.
Like, we're not, nobody'sgonna release anything.
And this is a funny one, I think.
You're either like, really in this Epsteinfile world or you're like, I don't care.
(12:37):
But ultimately I think it feelssuper covered up for it's felt
like way that way for a long time.
But underneath all of that, itfeels like there's just a different
world for our political leadersthe wealthy that they play by
different rules and we don't get to.
Jerremy (12:55):
Yes.
Dave (12:55):
Can you imagine, and that somehow we're making it partisan.
Like, how is this partisan?
I like everybody, all of ourrepresentatives should be saying, of
course, we want radical transparencyexcept for this, my god, this stinks.
Jerremy (13:09):
It does stink and I don't even know if I should even say
it, but I guess I probably will.
Being on Twitter and all kinds ofdifferent social platforms and falling
all kinds of different people withall different colors of hair there
was one individual that was like,oh, tinfoil hat, good chance that
potentially Charlie knew something.
(13:31):
About the whole vote and about the whole
Dave (13:33):
Oh.
Jerremy (13:33):
list.
And he is gonna keep pushing itand pushing it, and pushing it.
And again, I will say that Trump will losea very large portion of his voter base.
And this is gonna get swept under the rug.
And this is the exact moment thatneed to get swept under the rug.
So there's, one of those unfortunate man,that's a crazy dumb, weird, insane, awful,
horrible, slightly viable coincidence
(13:55):
Because
Dave (13:56):
government.
Yeah, that's, yeah.
We've gotta take the hit sometime, right?
Jerremy (14:00):
yeah.
Dave (14:00):
We still, we're still looking for j.
K files.
They didn't release all of them yet.
We think ar like we just, yeah, youcan get blamed for, or you can get,
painted as a conspiracy theorist, butlook, just put out the information.
That's all we're askingis just put it out there.
Take the hit on the Epstein files,take the hit on UFOs and all of that.
Just release the hounds.
Jerremy (14:20):
I
Dave (14:21):
need more institutional trust and this doesn't do it.
Jerremy (14:23):
yeah, I think that correct.
We do need a lot more institutionaltrust, but I think you and I both
know why they can't release it.
And that's the unfortunate part isthere's a lot of people and very
high parts of government we'reobviously there names are on the list.
And then people that are sleuthsare gonna do some digging
Dave (14:45):
Yeah.
Jerremy (14:46):
gonna find some things that they do not like and that's
gonna rattle a lot of cages.
And that's a big cage thatnobody wants to rattle.
Dave (14:52):
Yeah.
Jerremy (14:52):
really ultimately, that's what it has to be, dude.
It has to be that same thingwith JFK and same thing with
UFOs and all the other stuff.
It's listen, reason they'renot releasing it is obvious.
Like we can't be that dumb.
We're like, wait a minute.
Trump and his entire administrationsaid that they would release it.
For sure.
Definitely.
Absolutely Would Patrickbe David Grant Cardone and
Dave (15:13):
everybody.
Jerremy (15:14):
Dana White.
Yeah, get it out.
Drain the swamp, takeall the pedophiles out,
Dave (15:20):
none of that.
Jerremy (15:21):
none of it's happened.
Dave (15:22):
None of it.
Oh my God.
Jerremy (15:24):
Super weird.
Crazy, insane.
Dave (15:27):
So I'm gonna put another link in here.
Because I listened to an interviewI wouldn't have normally like, hit
my radar, but it was fascinating.
It was on Tucker, if you all listen tothis and you're like, oh my god, Tucker
Carlson, I've never listened, man.
He's been doing some fascinatinginterviews and I'm like, give this
dude a chance on this interviewbecause it was with Sam Altman and
(15:51):
it was, it's only an hour long.
It's like 50 minutes, and it was, if youwant like the scariest look in the future,
look at one of the dudes who's driving thetrain because Sam Altman and what he said.
With very basic questionswas terrifying to me.
(16:11):
It's like most basicquestion in the world.
Okay.
You have these incredibly powerfultools that you are creating, that you
are a part of, you have to train them,you know, like the training means, it's
like you have to put on some guardrails.
You have to, you have togive it a framework and.
Tucker was like, and a moral framework.
(16:33):
You know, because otherwise you,you have this incredible tool that
is a sociopath, you know, like, andhe asked the most basic question.
It's like, okay, what'sthe moral framework?
And Sam Altman couldn't reallyanswer it, and you could see him.
Trying to answer it in real time.
(16:53):
And I'm like, dude, youare in charge of this.
Like, you haven't thought this through.
And he is like, we had this teamof people that, you know, like
Moralists, that, help us with this.
And, uh, Tucker's like,okay, who are they?
What do they believe?
And like super simple questions.
It's like, what are the beliefs and.
(17:15):
It goes to the conversationthat we had earlier.
It's like, okay, some people arecelebrating and like, okay and Catholic
church, like they believe this way.
These are moral frameworks.
What are you teach himthis, this beast on?
And he could not answer itwith any kind of clarity.
And I'm like, oh wow, that.
Jerremy (17:35):
Terrifying.
Dave (17:36):
Yeah, so ai, ai, and talk about not giving our kids like a hope in a future.
Like they are seeing aheadand they're seeing like, what
are my prospects in this?
Like if my future jobs aretaken away by robots and ai,
it's what am I gonna be doing?
I'm like, oh no.
Any hot takes on our AI discussion,this is definitely gonna be a
(17:57):
huge topic for us in the future.
Jerremy (17:59):
Yeah, it's gonna keep compounding for sure.
The biggest, most advantageously uniqueaspect of artificial intelligence
is not intelligent right now at
Dave (18:11):
Yeah.
Jerremy (18:13):
And that's a terrifying concept because it will become
intelligent at some point when,from who is it learning from and
Dave (18:24):
Who
Jerremy (18:25):
now.
Dave (18:26):
who's your daddy?
Jerremy (18:27):
Yeah.
Bro, if you get a Trump ai,
Dave (18:30):
Oh.
Jerremy (18:30):
I'm not subscribing to that.
That is, that's a.
Dave (18:34):
Or if you get a Ma dung if you get a Stalin ai, it's I'm
not listening to that one either.
So it's ah, he couldn't answerlike, the most basic things.
Okay, what's it gonna say on suicide?
Because there's actually like a lotof news on kids committing suicide
and using chat GPT or using AIto get into that or being talked
into it or like not being healthy.
It's oh yeah, that keeps me up at night.
(18:56):
And Tucker's okay, talk to me about that.
And he couldn't because like themorality around that is different.
In some cultures it's thisis completely forbidden.
This is yeah, there's no thing suchthing as suicide in a lot of countries
and like Europe or even Canada.
It's a physician assistedsuicide is a thing.
(19:17):
In the United States, like we don't talkabout it, but we do ensure that, that
people pass this happened with my latewife, like we ensure that people pass
well, and that is a moral discussion.
And it's like, well, what areyou training this machine to do?
You know, and he's like, ah, I don't know.
Jerremy (19:36):
It's terrifying.
Dave (19:38):
Wow.
Jerremy (19:39):
really.
Sketch big.
Sketch.
Big sketch.
Dave (19:43):
All right.
So you live in the gambling capital, oneof the gambling capitals of the world.
I haven't been to Macau, but I'd like to.
I'm already setting up a littletrip with my brother from another
mother to go out to Reno and do somepoker playing, which will also come
your way since I'll be right there.
Jerremy (19:59):
percent.
Dave (19:59):
you're.
You are in Las Vegas and lot of newsabout, ah, you know, I hear the ads all
the time for these sports betting apps.
And it's just getting bigger and bigger.
I have some prettystrong opinions on this.
If gambling is available everywhereand it doesn't lead to good things,
economy's, uh, dry, it sucks people dry.
(20:23):
Like, these are serious, addictivethings, you know, like I, I have, I
do have some strong opinions on that.
I really do think that, you know, youneed to put a bit of a fence around
this to ensure that, you know, you'renot destroying a ton of lives, but
you can pull up these apps and theseapps are targeted at people who lose.
Like if you win on theseapps, they kick you off.
And these sports betting things likethey are making bank, I don't know.
(20:50):
What do you think?
You're in Vegas.
Jerremy (20:51):
I am in Vegas.
So I've literally not evengiving it any thought until
your exact question right now.
And so I'm just gonna do
Dave (20:57):
Good
Jerremy (20:57):
of consciousness.
Dave (20:59):
hot take.
Jerremy (21:00):
I were president and I was tasked with creating rules, regulations,
or information around betting it wouldbe a vice personally that I would
put pretty stringent rules around.
And here's why.
The majority of people that bet losethe majority of people that gamble
(21:22):
lose, and there are much better economicways, much more economic viable ways.
To make money that areguaranteed AKA by assets.
I don't like gambling.
If you are a Christian a bigno-no in the Bible, right?
You're not supposed to be a gambler.
You're not supposed to gambleit's like a, no, don't do this.
(21:43):
Some people have called the stockmarket gambling, but I can come
up with 455 different mathematicalreasons why it's not gambling,
as a professional gambler, right?
Someone who does gamble and generally canget kicked off of apps because I will win
if I were to create rules around gambling,it would be credit score related.
(22:08):
And you'd have to fill out an applicationand you'd have to get approved.
So if you make $40,000 ayear, you can't gamble.
I love you.
I'm sorry.
Here's why you can't gamble.
You don't have enough money.
You're broke and you're not gonna beable to get up into the higher income
earning portions of your family.
If you gamble with $40,000.
(22:30):
You need to learn howto invest appropriately.
You make $400,000 a year, fuck it.
Roll some dice.
Who cares?
Dave (22:37):
Yeah.
Jerremy (22:37):
all of your money.
It's gonna be your fault.
I'm perfectly fine with companiesmaking money off of gamblers.
I'm all good with that.
That's why the whales, right?
These huge individuals monetarilythat bring in so much money
in revenue into casinos.
you make $10 million a yearand you wanna blow $3 million
on a sports bet, go for it.
(22:58):
Knock yourself out.
But there should be a financialthreshold in my personal opinion.
And I think that's also a way.
To allow the individuals andthe populace of any country, but
specifically the United States ofAmerica that don't make as much money.
them, Hey, listen, you can't gamble'cause you don't have enough stock assets.
Let's go increase your stock holdings.
(23:18):
Let's go make you more money in thestock world and do it appropriately.
Dave (23:22):
I'm down with that.
Like we have age restrictions on things.
There's investment things you can'tdo if you don't have enough assets.
There's all sorts of restrictions.
Alex (23:29):
Next up, Dave probes international chaos from Somalia to the Middle
East, questioning endless conflicts.
Jerremy pushes for lettingothers sort their fights.
But as they weigh isolationismagainst globalism, the real
tension builds—if we pull back,what pressures boil over at home?
Dave and Jerremy grapple with the glee some felt over Charlie Kirk's death,
calling it a sign of lost humanity.
They push back on casual Nazilabels as dangerous devaluation.
But the deeper dive reveals broken mendriving national divides—how does that
fracture everything from rights to unity?
Dave (00:19):
Let's, since we're already doing it, let's flip over to, uh,
to sort of the economic stuff,the, uh, FOMC meetings this week.
Things are, you know, like thingsare funny in the economy, right?
Prices are going up, probablytariff related, but economies
having some issues like credit card.
Credit cards are, are,you keep on going up.
(00:41):
As far as issues like there's,there's clearly some stress, you know,
there's unemployment, particularlyfor young people, that's an issue.
Immigration is probably pushingsome, some levers on the jobs data.
There was a big revision there.
People make money when things arevolatile, but people don't make money
(01:01):
if everything's like really volatile.
Right.
Jerremy (01:05):
Yeah.
The majority of the people will not.
That is correct.
You're absolutely
Dave (01:08):
Yeah.
Jerremy (01:08):
So when things are really volatile and really
tumultuous, you Correct.
The majority of people will notmake money 'cause they're scared.
Volatility just in essenceshould, and it should, but it
does generally scare people.
But that's, if they don't know thedirection, Volatility when, the
direction isn't nearly as scary.
That's because, like a plane, right?
People are gonna take aplane versus take a bus.
(01:29):
'cause
Dave (01:30):
Yeah.
Jerremy (01:30):
it's faster, but faster is by definition, volatility and velocity.
So as long as people know where it's goingand they have some information tied to it.
I think it'll be perfectly fine.
The reason I don't think that we'retruly in a bubble right now, personally,
let's call it an asset bubble or stockbubble, is because earnings are going up.
(01:50):
Now, are we priced high?
Too high?
Yes, I think so.
But earnings are going up and that isbecause people are making more money.
And that is because companies are ableto reduce a lot of employee workforce.
That is because of a lot of software.
Sure, ai, certain tools are comingin making other jobs faster and more
cost effective and therefore companiesare making more money right now
(02:15):
that's why stock prices are going up.
But at the same time, if people dohave investments into stocks, 4 0 1 Ks,
IRAs, retirement accounts, so on and soforth, they're probably at this point,
most likely doing really well or atleast decently well, they're feeling it.
And so then they're spending and theyfeel safer and they're buying more things
and more people buying more things.
And you have a littlebit of tariff pricing.
(02:37):
Prices are gonna go higher'cause you have more demand.
It's all very interesting.
But with gold at all time highs,the stock market all time highs,
pretty much at all time highs.
Silver, getting back tosome of its all time highs.
It really is quite interesting to me whatis gonna take that tipping point over.
And I'm really truly at this exact stage,not entirely sure what it's gonna be.
Dave (02:59):
Reed who we're interviewing this week.
It's going out right now.
He said something that's reallystuck with me, which is Hey, you
know, these politicians, like,they don't affect your life.
This is Tyler.
He's like, man you havethe most control over you.
Like these politicians, they mightjust like affect you, just like
this little itty bitty stuff.
FOIA meetings coming up.
(03:20):
I think a lot of peoplejust get focused on that.
Like, is that gonna affect us all?
Like stock market?
Sure.
That affects a few morepeople tariffs and inflation.
That affects everybody.
What do you think are the, the biglevers or big, what are people feeling?
What are Americans feeling rightnow as far as their pocketbook
goes, or as far as the economy goes?
Do you think it's sideways, up, down?
(03:42):
Like what?
What are people, what's the vibe?
Jerremy (03:45):
I feel like the majority of individuals are mostly stressed right
now about the cost of food and housing.
Dave (03:57):
Yeah.
Jerremy (03:58):
these are the two really big ones.
Because ultimately man, like boy, oh boy.
It is expensive out there.
Mean a trip to the grocery store isgonna run you 250 bucks for yourself,
Dave (04:14):
yeah,
Jerremy (04:15):
a
Dave (04:15):
and you have a hungry family too.
Jerremy (04:16):
Yeah.
Dave (04:17):
Young boys.
Jerremy (04:18):
Yep.
For a week of food.
And then, all right, sonow the cost of housing,
Dave (04:22):
Yeah.
Jerremy (04:23):
we have more demands, we have more people coming.
We have a population that'sgrowing meaning our teenage
population is really growing, sodemand for homes is increasing.
Dave (04:33):
Yeah.
Jerremy (04:34):
yes, you definitely have immigrants into the country.
But that's a very small number,relative to people that need housing.
Is, it's just a shortage.
And then with the interest rates andthen the cost of everything, I think the
people right now, the majority of thepeople, the biggest stressor, I'm not
gonna, I won't use this as cannon foddertoo often, but I did probably watch,
(04:54):
without exaggerating a hundred hours ofCharlie Kirk videos this weekend really
to dial in on like, why did people vilifyhim so much and why did people hate him
Dave (05:03):
Yeah.
Jerremy (05:04):
So I can't figure that one out.
But one
Dave (05:06):
Right.
Jerremy (05:07):
one of the things that he did mention that is broken in this
country, and he did directly mentionright, our president as someone that
could fix it although he won't is thehusband taking care of the wife and like
saying, Hey wife, if you don't want towork, have to stay home with the kids.
(05:30):
Raise them if you want to,if that's what you wanna do.
of the interviews that Charlie wassaying was, I don't believe that
we should live in a country wherethe man and the wife, in order to
afford life, have to go to work.
goes, that's a broken system.
And that is exactlywhere we're at right now.
100%, like for a couple tohave more than one child.
(05:54):
Both.
Both parents have to work unless one ofthose parents makes over $120,000 a year.
And I would say that's probably like an89% of the cities in the US and there's
probably a very small portion wherethat's probably not exactly accurate.
But it, by the majority, everyone ofour listeners probably feels that pinch
(06:15):
because again, more than one child, right?
So if you have two kids and oneperson's gonna stay home at work.
mom or dad, right?
I know a dad that stays home, butmom or dad that's gonna stay and take
care of two or more kids full time,the other individual has to make
at least $120,000 a year minimum.
And that's that's a challenge, man.
(06:35):
That's just a challenge.
Dave (06:36):
Yeah.
Jerremy (06:37):
So I think that's
Dave (06:38):
Whereas,
Jerremy (06:39):
the vibe.
Dave (06:40):
And not too long ago, we're talking, like my parents you make jokes.
I'm so old.
I'm only, like I'm atI'm early fifties, right?
Like we're only a few years apart.
Come on.
But.
But in the seventies and theeighties, you could have a
single Breadwinning household.
You didn't have to, likewomen were in the workforce.
Um, and you afforded agood middle class life.
(07:04):
And you might even have likea, a vacation, you know, place.
You'd definitely be able to go ongood vacations with your family.
You didn't have a lot of nos.
You had a lot of options, andnow it's not a lot of options.
Your money's going out the door.
It's going to food, it's going tohealthcare, it's going to, housing,
and there's nothing left over.
(07:24):
And so you need more and more people.
Jerremy (07:27):
What you just said over there.
I was like, nah, dog.
That's a quarter million dollars a year.
And your spouse has a side hustle to
Dave (07:34):
Just to do the life that was in our, my lifetime,
Jerremy (07:39):
yep.
Exactly.
And to do the whole, and again, op pairI don't wanna send my kids to school.
I wanna have constant childcare inour home 'cause I don't wanna drop 'em
off 'cause I don't trust or whatever.
Dave (07:53):
Yeah.
Jerremy (07:53):
you're talking 300,000 and then that's probably net.
say net, that means now that'sreally after taxes because, so
it's a very interesting situationand how do we really solve that?
The fortunate slash unfortunate partis, I do think it's gonna be education.
(08:13):
Meaning, meaning I think it's gonnabe a more focused on the discussion of
how does one outrun an asset inflation?
And the short answer for all of ourlisteners is create more asset inflation.
That's how you outrun it.
Meaning you, you outasset inflate the asset.
(08:35):
Assets that will inflate faster thanwhatever asset that you need to outrun.
Yeah.
Housing costs, food costs.
So that's what I've done in my life.
And I did that with the stock market.
So I said, Hey, the stockmarket's gonna move very quickly.
These stocks might move 50% this year.
If I put a hundred thousanddollars into the stock and
it moves 50%, I make $50,000.
(08:57):
That $50,000 of movementis an asset inflation.
That's what it is.
The price has
Dave (09:04):
Yeah.
Jerremy (09:05):
So if I, my cost of living is $50,000 a year and I make 50,000
trading in the stock market now,anything else I make on top of that?
That's the short answer is like you haveto do a faster asset increase to outrun
Dave (09:19):
Run faster.
Yeah.
Jerremy (09:20):
Need to learn how to do that through school
and through proper education.
Now second point of that is, Ithink the only real reason, the
only real way we do have a bigfinancial reset like we did in 2008.
not calling for that.
I don't want that to happen.
I realize that with every 1%increase of unemployment suicide
(09:42):
rates and murder rates and likejust poverty, every 1% increase.
It's a pretty dramatic number tothe bottom line of individuals
that are directly impacted.
that will happen at some point.
'cause that is human nature, right?
There is boom bus cycles.
And within the next 10 years, wewill have another large one, a
50% plus big market correction.
(10:03):
But then after that marketcorrection, we will have the
strongest 30 to 50 years in history.
And it'll be extremely powerful.
And I think that the gap willstill get wider and instead of
the top 1% being the top 1% willbe the top 2%, maybe the top 3%.
And in 50 years, Dave when we're all50 years older, 50 years from now, I
(10:26):
could easily see a normal car costinghalf a million dollars a house costing.
Three and a half, four, $5 million.
There will be more millionairesby a magnitude, except being a
millionaire will be relativelyrelevant because you'll also have
over 10 trillionaires 50 years, you'llhave tens of thousands billionaires.
(10:51):
You'll have hundreds ofthousands of billionaires, right?
And so money will just be more, andso things will cost more valuations
will be more, the Dow Jones and 50years from now be well over a quarter
million, well over a quarter million.
And this is a really good chance.
It'll be at a million that might takea hundred years, but it, that's coming.
(11:15):
And right now, this exact moment, thisexact recording, the Dow Jones is at the
highest price ever at 45,000, 46,000.
Dave (11:21):
Wow.
Jerremy (11:23):
I'm calling for it to quadruple or sepal in 50
years, but that's gonna happen.
Yeah man, so there it is really,uniquely interesting and again, that's
just my theory from an economist orwhatever you wanna call me someone
who's just aware of the markets.
But I do believe that the way to shrink inthat gap sure is really proper education
(11:44):
around all things money and all things
Dave (11:47):
Yeah.
Jerremy (11:47):
and all things inflation and all things like, here's
how one can speed up processes.
It doesn't mean it has to be anautomated online coaching business.
You can absolutely own a car wash andjust crush it for the next 50 years.
You can do very well in car washes,but you're gonna have to figure
out how to automate some things.
You're gonna figure out how to makeyour margins a little bit better and how
(12:08):
to decrease costs a little bit better.
And so all those things aregonna have to be conversations.
Dave (12:12):
Nice.
Alright, let's switch some gears.
Jerremy (12:14):
let's do it.
Dave (12:15):
Some things that didn't show up last week because the world
got blotted out by one thing.
Epstein files, they were voted on lastweek by Congress and it was voted down.
Like, we're not, nobody'sgonna release anything.
And this is a funny one, I think.
You're either like, really in this Epsteinfile world or you're like, I don't care.
(12:37):
But ultimately I think it feelssuper covered up for it's felt
like way that way for a long time.
But underneath all of that, itfeels like there's just a different
world for our political leadersthe wealthy that they play by
different rules and we don't get to.
Jerremy (12:55):
Yes.
Dave (12:55):
Can you imagine, and that somehow we're making it partisan.
Like, how is this partisan?
I like everybody, all of ourrepresentatives should be saying, of
course, we want radical transparencyexcept for this, my god, this stinks.
Jerremy (13:09):
It does stink and I don't even know if I should even say
it, but I guess I probably will.
Being on Twitter and all kinds ofdifferent social platforms and falling
all kinds of different people withall different colors of hair there
was one individual that was like,oh, tinfoil hat, good chance that
potentially Charlie knew something.
(13:31):
About the whole vote and about the whole
Dave (13:33):
Oh.
Jerremy (13:33):
list.
And he is gonna keep pushing itand pushing it, and pushing it.
And again, I will say that Trump will losea very large portion of his voter base.
And this is gonna get swept under the rug.
And this is the exact moment thatneed to get swept under the rug.
So there's, one of those unfortunate man,that's a crazy dumb, weird, insane, awful,
horrible, slightly viable coincidence
(13:55):
Because
Dave (13:56):
government.
Yeah, that's, yeah.
We've gotta take the hit sometime, right?
Jerremy (14:00):
yeah.
Dave (14:00):
We still, we're still looking for j.
K files.
They didn't release all of them yet.
We think ar like we just, yeah, youcan get blamed for, or you can get,
painted as a conspiracy theorist, butlook, just put out the information.
That's all we're askingis just put it out there.
Take the hit on the Epstein files,take the hit on UFOs and all of that.
Just release the hounds.
Jerremy (14:20):
I
Dave (14:21):
need more institutional trust and this doesn't do it.
Jerremy (14:23):
yeah, I think that correct.
We do need a lot more institutionaltrust, but I think you and I both
know why they can't release it.
And that's the unfortunate part isthere's a lot of people and very
high parts of government we'reobviously there names are on the list.
And then people that are sleuthsare gonna do some digging
Dave (14:45):
Yeah.
Jerremy (14:46):
gonna find some things that they do not like and that's
gonna rattle a lot of cages.
And that's a big cage thatnobody wants to rattle.
Dave (14:52):
Yeah.
Jerremy (14:52):
really ultimately, that's what it has to be, dude.
It has to be that same thingwith JFK and same thing with
UFOs and all the other stuff.
It's listen, reason they'renot releasing it is obvious.
Like we can't be that dumb.
We're like, wait a minute.
Trump and his entire administrationsaid that they would release it.
For sure.
Definitely.
Absolutely Would Patrickbe David Grant Cardone and
Dave (15:13):
everybody.
Jerremy (15:14):
Dana White.
Yeah, get it out.
Drain the swamp, takeall the pedophiles out,
Dave (15:20):
none of that.
Jerremy (15:21):
none of it's happened.
Dave (15:22):
None of it.
Oh my God.
Jerremy (15:24):
Super weird.
Crazy, insane.
Dave (15:27):
So I'm gonna put another link in here.
Because I listened to an interviewI wouldn't have normally like, hit
my radar, but it was fascinating.
It was on Tucker, if you all listen tothis and you're like, oh my god, Tucker
Carlson, I've never listened, man.
He's been doing some fascinatinginterviews and I'm like, give this
dude a chance on this interviewbecause it was with Sam Altman and
(15:51):
it was, it's only an hour long.
It's like 50 minutes, and it was, if youwant like the scariest look in the future,
look at one of the dudes who's driving thetrain because Sam Altman and what he said.
With very basic questionswas terrifying to me.
(16:11):
It's like most basicquestion in the world.
Okay.
You have these incredibly powerfultools that you are creating, that you
are a part of, you have to train them,you know, like the training means, it's
like you have to put on some guardrails.
You have to, you have togive it a framework and.
Tucker was like, and a moral framework.
(16:33):
You know, because otherwise you,you have this incredible tool that
is a sociopath, you know, like, andhe asked the most basic question.
It's like, okay, what'sthe moral framework?
And Sam Altman couldn't reallyanswer it, and you could see him.
Trying to answer it in real time.
(16:53):
And I'm like, dude, youare in charge of this.
Like, you haven't thought this through.
And he is like, we had this teamof people that, you know, like
Moralists, that, help us with this.
And, uh, Tucker's like,okay, who are they?
What do they believe?
And like super simple questions.
It's like, what are the beliefs and.
(17:15):
It goes to the conversationthat we had earlier.
It's like, okay, some people arecelebrating and like, okay and Catholic
church, like they believe this way.
These are moral frameworks.
What are you teach himthis, this beast on?
And he could not answer itwith any kind of clarity.
And I'm like, oh wow, that.
Jerremy (17:35):
Terrifying.
Dave (17:36):
Yeah, so ai, ai, and talk about not giving our kids like a hope in a future.
Like they are seeing aheadand they're seeing like, what
are my prospects in this?
Like if my future jobs aretaken away by robots and ai,
it's what am I gonna be doing?
I'm like, oh no.
Any hot takes on our AI discussion,this is definitely gonna be a
(17:57):
huge topic for us in the future.
Jerremy (17:59):
Yeah, it's gonna keep compounding for sure.
The biggest, most advantageously uniqueaspect of artificial intelligence
is not intelligent right now at
Dave (18:11):
Yeah.
Jerremy (18:13):
And that's a terrifying concept because it will become
intelligent at some point when,from who is it learning from and
Dave (18:24):
Who
Jerremy (18:25):
now.
Dave (18:26):
who's your daddy?
Jerremy (18:27):
Yeah.
Bro, if you get a Trump ai,
Dave (18:30):
Oh.
Jerremy (18:30):
I'm not subscribing to that.
That is, that's a.
Dave (18:34):
Or if you get a Ma dung if you get a Stalin ai, it's I'm
not listening to that one either.
So it's ah, he couldn't answerlike, the most basic things.
Okay, what's it gonna say on suicide?
Because there's actually like a lotof news on kids committing suicide
and using chat GPT or using AIto get into that or being talked
into it or like not being healthy.
It's oh yeah, that keeps me up at night.
(18:56):
And Tucker's okay, talk to me about that.
And he couldn't because like themorality around that is different.
In some cultures it's thisis completely forbidden.
This is yeah, there's no thing suchthing as suicide in a lot of countries
and like Europe or even Canada.
It's a physician assistedsuicide is a thing.
(19:17):
In the United States, like we don't talkabout it, but we do ensure that, that
people pass this happened with my latewife, like we ensure that people pass
well, and that is a moral discussion.
And it's like, well, what areyou training this machine to do?
You know, and he's like, ah, I don't know.
Jerremy (19:36):
It's terrifying.
Dave (19:38):
Wow.
Jerremy (19:39):
really.
Sketch big.
Sketch.
Big sketch.
Dave (19:43):
All right.
So you live in the gambling capital, oneof the gambling capitals of the world.
I haven't been to Macau, but I'd like to.
I'm already setting up a littletrip with my brother from another
mother to go out to Reno and do somepoker playing, which will also come
your way since I'll be right there.
Jerremy (19:59):
percent.
Dave (19:59):
you're.
You are in Las Vegas and lot of newsabout, ah, you know, I hear the ads all
the time for these sports betting apps.
And it's just getting bigger and bigger.
I have some prettystrong opinions on this.
If gambling is available everywhereand it doesn't lead to good things,
economy's, uh, dry, it sucks people dry.
(20:23):
Like, these are serious, addictivethings, you know, like I, I have, I
do have some strong opinions on that.
I really do think that, you know, youneed to put a bit of a fence around
this to ensure that, you know, you'renot destroying a ton of lives, but
you can pull up these apps and theseapps are targeted at people who lose.
Like if you win on theseapps, they kick you off.
And these sports betting things likethey are making bank, I don't know.
(20:50):
What do you think?
You're in Vegas.
Jerremy (20:51):
I am in Vegas.
So I've literally not evengiving it any thought until
your exact question right now.
And so I'm just gonna do
Dave (20:57):
Good
Jerremy (20:57):
of consciousness.
Dave (20:59):
hot take.
Jerremy (21:00):
I were president and I was tasked with creating rules, regulations,
or information around betting it wouldbe a vice personally that I would
put pretty stringent rules around.
And here's why.
The majority of people that bet losethe majority of people that gamble
(21:22):
lose, and there are much better economicways, much more economic viable ways.
To make money that areguaranteed AKA by assets.
I don't like gambling.
If you are a Christian a bigno-no in the Bible, right?
You're not supposed to be a gambler.
You're not supposed to gambleit's like a, no, don't do this.
(21:43):
Some people have called the stockmarket gambling, but I can come
up with 455 different mathematicalreasons why it's not gambling,
as a professional gambler, right?
Someone who does gamble and generally canget kicked off of apps because I will win
if I were to create rules around gambling,it would be credit score related.
(22:08):
And you'd have to fill out an applicationand you'd have to get approved.
So if you make $40,000 ayear, you can't gamble.
I love you.
I'm sorry.
Here's why you can't gamble.
You don't have enough money.
You're broke and you're not gonna beable to get up into the higher income
earning portions of your family.
If you gamble with $40,000.
(22:30):
You need to learn howto invest appropriately.
You make $400,000 a year, fuck it.
Roll some dice.
Who cares?
Dave (22:37):
Yeah.
Jerremy (22:37):
all of your money.
It's gonna be your fault.
I'm perfectly fine with companiesmaking money off of gamblers.
I'm all good with that.
That's why the whales, right?
These huge individuals monetarilythat bring in so much money
in revenue into casinos.
you make $10 million a yearand you wanna blow $3 million
on a sports bet, go for it.
(22:58):
Knock yourself out.
But there should be a financialthreshold in my personal opinion.
And I think that's also a way.
To allow the individuals andthe populace of any country, but
specifically the United States ofAmerica that don't make as much money.
them, Hey, listen, you can't gamble'cause you don't have enough stock assets.
Let's go increase your stock holdings.
(23:18):
Let's go make you more money in thestock world and do it appropriately.
Dave (23:22):
I'm down with that.
Like we have age restrictions on things.
There's investment things you can'tdo if you don't have enough assets.
There's all sorts of restrictions.
Alex (23:29):
Next up, Dave probes international chaos from Somalia to the Middle
East, questioning endless conflicts.
Jerremy pushes for lettingothers sort their fights.
But as they weigh isolationismagainst globalism, the real
tension builds—if we pull back,what pressures boil over at home?
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