Watchdog on Wall Street: Podcast for Weekend of August 31 - September 1 2024 - Watchdog on Wall Street with Chris Markowski

Episode Transcript
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Speaker 1 (00:07):
Well, no one altered.

Speaker 2 (00:08):
Investment banker, consumer advocate, analyst, trader Chris Markowski is the
watchdog the Wall Street Do you want to answer exposing
the lines and myths that the big brokerage firms, the
mainstream press, and the government are pushing to keep Americans
away from financial freedom.

Speaker 3 (00:28):
You can't handle the true proof.

Speaker 2 (00:30):
Bringing America the truth about what really happens in the
financial world.

Speaker 4 (00:35):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.

Speaker 5 (00:39):
This is the watchdog Wall Streets.

Speaker 3 (00:44):
Yes, it is welcome, Welcome everybody.

Speaker 1 (00:46):
Ah. Last week on the show, we.

Speaker 3 (00:49):
Did a.

Speaker 1 (00:51):
Bit here on the program highlighting these anecdotal stories coming
from publications, in particular the Wall Street Journal, and I'm
starting to call it the Woe the Woe Street Journal.
Now I've been reading daily, I mean the Wall Street Journal.
Now it's over thirty five years. Over thirty five years,

(01:14):
I've been reading it every single day. I remember taking
the thirty five bus when I lived in Manhattan on
my way to work, you know, paper edition before a smartphone.
I mean this long, long, long time ago. And I
also remember when Rupert Murdoch and News Corp. Bought The
Wall Street Journal, and I said, oh, no good.

Speaker 6 (01:35):
No good, And I was right. The paper now is
a shell.

Speaker 1 (01:40):
Of what it used to be. It really is.

Speaker 6 (01:43):
And I go through.

Speaker 1 (01:44):
I read columns there on a regular basis, and I
don't even know how these people got jobs. I mean,
I take a look. You can click on the the
writer of a story and you'll give their resume there.
And they went to Northwestern, or they went to Columbia
Journalism School, or they went to Theracuse, they went to

(02:06):
some you know, journalism outfit out there, but they don't
know a darn thing it or it reminds me of
Beverly Hills cop when Axel Foley Wash was basically, you know,
talking about the coffee grinds at Victor Maidland's warehouse and
the rose Wooden Taggart didn't.

Speaker 6 (02:22):
Have a clue and he's like, oh, you guys just
got your badges and your guns.

Speaker 1 (02:25):
You don't know anything about anything. And that's basically what
we have writing columns for the Wall Street Journal. They
still have, they said, some good writers in their opinion pages,
but it's it's gotten really bad. It's gotten really bad.
And I spend a lot of time going through the media,

(02:46):
time on the podcast, time on the show, trying to
debunk all of the nonsense that is being shoved down
people's throats. And I did cover this on the podcast
this week, but I have to we have to go
over this again because I got ticked off I did.

Speaker 6 (03:03):
I'm reading this stuff. This is written by a Rachel.

Speaker 1 (03:06):
Wolf Wall Street journal The American dream feels out of
reach for most and she saw a pole. This is
what happens. She saw a pole, and she came to
a conclusion, and she went out and she found anecdotes
to fit her narrative and quite franktly that that's not journalism.

(03:29):
I learn more about journalism in my eleventh grade journalism
elective in high school.

Speaker 6 (03:37):
She starts off with this pole.

Speaker 1 (03:39):
Out there fifteen hundred US adults and a stark gap
between people's wishes and their expectations, and goes through a
various different things. And eighty nine percent of the respondent
said owning a home is essential or important to their
vision of the future. Ten said home ownership is easy

(04:02):
or somewhat easy to achieve to attain only ten percent
financial security and a comfortable retirement were essential. But easy,
only nine to eight percent. Okay, first and foremost. Okay,
it's never ever been easy. It's not supposed to be easy.

(04:23):
What do we try to teach here on the program. Okay,
everything in life that has meaning, value and worth involves work,
time and effort.

Speaker 6 (04:34):
It's just that simple.

Speaker 1 (04:35):
But she compares that Wall Street Journal poll to a
different pole not done by the Wall Street Journal, different
questions from a different organization from twelve years ago, and
there are differences between the two. And again, you can't
do that. That's like comparing apples to oranges. And then

(04:58):
she goes she finds an economist out there. It says
Emerson sprick Key, aspects of the American dreams seem out
of reach in a way that they were not in
past generations. Listen, I know a lot of my older listeners,
accomplished people that listened to this program. There were times,

(05:18):
there were times when I was building my business up
and I'm living in a railroad apartment with cockroaches and
eating ramen new there was a point in time where
things seem far away out of reach. Okay, that's just
what do you think It's different today than it ever

(05:39):
has been. It's always been hard. And in Emerson spricks, well,
you know, the issue is the decline of private sector
pensions leading to their near disappearance. Hey, Emerson, they have
They would have disappeared anyway, buddy. They were Ponzi schemes
for crying out loud, people living longer and healthier lives.

(06:02):
They didn't work out. There was one generation of bloody
pensions for crying out loud, and it didn't work because again,
people got healthier. Yeah, sure, sure you've got the government ones,
the public ones, but private no, they changed. And that's
the reason why hope that people can't get ahead in society.

(06:22):
That's a load of bunk.

Speaker 6 (06:25):
And here come the anecdotes.

Speaker 1 (06:28):
Classic. This is how they write now, Wall Street Journal,
New York Times, Washington Post. Come up with the narrative,
and then go out and find some people. So they
found a kid here, this Markel Washington, and he remembers,
he remembers that his elementary school teachers instilled in him
that high grades in a college degree would be his

(06:50):
ticket out of the Chicago neighborhood where he grew up
hearing gunshots every day. The promise, that's what they called
the promise. The twenty two years, says was that you'd
get a good job and enjoy the rest of your
life in a house with a front gate. See, Markel
went to college, but he dropped out. He dropped out

(07:12):
his junior year. He said, dropped out because three of
his close friends were killed within months of one another.
Markel now makes thirty thousand dollars a year working part
time for youth development nonprofit My Block, my hood, my city,
and he can't afford to move out of his mother's

(07:33):
Section eight apartment where he grew up. Okay, so his
mother has government subsidized government excuse me, taxpayer subsidized housing,
so they're basically not paying much for rent. Markell makes
thirty thousand dollars a year working for this nonprofit. Markel
is not married, he doesn't have kids. Hey, Markel, I

(07:58):
got an idea. Why don't you go out and find
yourself a second job? I got a better idea. Okay,
you dropped out of college your junior year. Why don't
you go back and finish I mean, this is your choice, man.
He says he hasn't given up on his American dream,
but he's finding it much less straightforward than he thought.

(08:20):
They don't tell you how hard it is to obtain
the American dream.

Speaker 6 (08:24):
You have to learn that on your own.

Speaker 1 (08:27):
Who in the world said anything in life is supposed
to be easy? And then okay, then a Wall Street
journal talks about economic mobility. Economic mobility, it's it's declined
in decades. And this I found fascinating. They said, well,
around ninety percent of children born in nineteen forty, nineteen forty, okay,

(08:52):
they were ultimately better off than their parents. Where did
their parents come from? Nineteen forty? Again, is this journalist
that vapid nineteen forty? What took place in the nineteen thirties,
for crying out life, the Great Bloody Depression, One would

(09:12):
think that kids would be better off than their parents,
not to mention the fact that all of the immigrants
that came into that to the country, my grandparents for
crying out loud, working their butts off to make a
better life for their kids. And then we all got
we gotta go to MIT in Harwood and find a

(09:33):
couple of economists here. And he said only only around
half of those born in the nineteen eighties were able
to say the same. Again, that's up to the individual
and first and foremost. I don't judge people based upon
how much money they make. You know, if someone's parents,

(09:55):
you know, are neurosurgeons and they make a decent living,
but their kids said that they want to go be
school teachers. Okay, they're not making as much as their parents,
but who cares?

Speaker 6 (10:08):
That was their choice?

Speaker 1 (10:09):
For crying out loud again, you know, the bar has
been raised. It's been raised since you had again migrants
coming into this country, Immigrants coming into this country building
better lives.

Speaker 6 (10:26):
For their kids. You have a choice.

Speaker 1 (10:31):
It's a coin flip, whether or not you'll earn more
than your parents a coin. It's not about a coin flip, man,
It's about choice. This is this is not random a
coin flip. I got three kids, and I put zero,

(10:52):
zero pressure on them to come work for the family business,
working with my brothers and myself, my nephew. My nephew
decided to come work and he's doing a phenomenal job.
My kids, they've got to figure it out on their.

Speaker 6 (11:08):
Own what they want to do.

Speaker 1 (11:13):
Again, you have choices. You don't I mean to decide. Oh, okay,
you didn't make it. It's somehow bad because you didn't
make as much money as your parents. I don't get that,
I really don't. But again, this is you know, this
is how they write nowadays. This is how we judge
people nowadays. This is how we divide people nowadays. Then

(11:35):
the Wall Street Journal finds somebody else, another couple here,
honest couple in Mount Vernon, New York. This is in
Westchester County. Richard Thomas and Cheriscoletti. They pulled off their
own version of the American dream. They bought a five
bedroom split level for six hundred and twelve thousand dollars
in twenty seventeen. It was like everything was going in

(11:56):
the right direction, says Celeti, forty two year old lawyer
who grew up I'm a poor among nine siblings. Bought
their first home. Couple's children have their own bedrooms, moved
mom in and her sister in. Now the couple's fifty
four hundred dollars mortgage, including a six hundred and eighty
nine dollars private mortgage insurance, it's becoming difficult. It was

(12:19):
tight but doable back then when they bought the house.
But now because energy prices have gone up doubled to
more than a two thousand bucks a month, and grocery
prices and insurance and other bills of the family have
now surged. HM. Well, first and foremost, you didn't put
much money down. Okay, if your mortgage is fifty four
hundred dollars, you bought the house back in twenty and

(12:42):
seventeen with ultra low interest rates. You didn't put a
lot of money down. Okay, you went house poor. You
over extended yourself. But again I looked into this because
the one fella here he was mayor, This Richard Thomas
was mayor, and I started thinking to myself, Oh, they're

(13:02):
complaining about high energy costs. So I did a little digging. Again.
I can't believe at the Wall Street Journal that they
didn't like do a Google search. As it turns out,
this fella, this mayor, was mayor, got in trouble. He's
got misdemeanors against it. They were originally felonies. They dropped
him because he was mayor of the town and he
stole money from his own campaign. Obviously doesn't have a

(13:23):
job now, tried to run again, doesn't have a job now.
Of course, they're Democrats, and they're complaining about high energy
costs and high inflation. And expensive groceries. I mean, you
can't make this stuff up. We want to stay in
our community, want to raise our kids here, but the

(13:44):
dream of being able to do that really escapes us.
We had the American dream. Now it's the American nightmare
because it feels like the country made us a promise.

Speaker 6 (13:54):
And then took it away. This was the ex mayor
spoken like.

Speaker 1 (13:58):
A true hack politician. Country made you a promise? How
many people listening out there? How many people listening to
this program right now? Anybody country make you a promise,
promise you anything at all? No, No, what the country
gives you is the opportunity to go out there to
build and create and to build a life for yourself.

(14:24):
Country made a promise and took it away. No, you
made poor choices, and you can either whine about them
and complain about them, or you can learn from them. Listen,
and I gotta take a break right here and listen.
I don't mean I honestly, people, Okay, I don't. I'm

(14:47):
not looking to be a down here today on the program. Again.
I want to explain this when we get back. People,
But let me tell you something, as difficult as it
is out there, tell me. You can't make it here
in this country. I'm tired of hearing this nonsense. You
gotta take a break.

Speaker 6 (15:07):
Watchdog on Wallstreet dot com.

Speaker 1 (15:08):
Watchdog on Wallstreet dot com is our site. Become a
part of the Watchdog on Wall Street family, our personal
CFO program, all sorts of great stuff.

Speaker 6 (15:19):
Watchdog on Wall Street dot.

Speaker 1 (15:20):
Com or give us a call eight hundred four seven
one fifty nine eighty.

Speaker 5 (15:25):
Four does.

Speaker 2 (15:29):
My says Listen, mister Crow, the only man who is
taking on the Wall Street establishments. You're listening to the

(15:51):
Watchdog on Wall Street with Chris Martkowski.

Speaker 1 (15:56):
I've written about this from time to time over the years,
talked about it here on the program. I did a
column years ago when when the boss shrugs, many people,
many people out there, they don't they don't see they
don't understand the backstory. They don't. Yeah, they they'll look

(16:17):
at somebody and they'll say, oh, look at their car,
look at you know, something that they have, Look at
the business that they will look at the vacations that
they can go on. And I'm not again, not the
people that are, you know, putting on the credit card
and put posting stuff all over social media. To make
themselves look good. Now, true hard workers that are out there,

(16:39):
and they envy them. They envy them very again. One
of the deadly sins envy.

Speaker 6 (16:47):
Remember the end of the movie seven, What was the
last sin?

Speaker 1 (16:50):
It was envy? And that's that's what happens. And then
everybody looks to say, well, you know what, life's not fair.
That's not fair. I'm a victim. I deserve this.

Speaker 6 (17:03):
The country owes me something.

Speaker 1 (17:07):
Again. I know. It's a bit of a smack upside
the head to maybe certain people listening to this program
then worked that way.

Speaker 6 (17:15):
Another story in this Wall Street Journal, This couple.

Speaker 1 (17:20):
Two women here complaining, oh, my dad was able to
buy an eight bedroom fixer upper in New Orleans for
one hundred and sixty thousand dollars in two thousand. We're
looking for a home in Louisville, and we thought two
hundred and fifty thousand dollars would be big enough budget.
But houses are too expensive. This one person is a

(17:41):
twenty eight year old second grade teacher. Doesn't say what
her partner does, but they make around one hundred thousand
dollars a year together. We're doing everything right, we're saving.
We went to good schools. I have a master's degree
and it's still so hard. Shut up. I know, I'm

(18:02):
going all you know, you're Don Corleoni's smacking uh.

Speaker 6 (18:07):
Fin Taine in the head at his daughter's wedding.

Speaker 1 (18:10):
You can act like a man. You can go out
and get yourself a second job. I mean, rather than
going to Starbucks and buying coffee, why don't you ask
for an application and work nights and work weekends. Because
I'm here to tell you that's what it takes. That's

(18:32):
what it takes. It's not supposed to be easy, doesn't
fall in your lap. You need to work for it,
and unfortunately many people do not. And that's your choice.
It's your choice. If you're happy in your situation, well
you're complaining. You're complaining. You're obviously not happy in your situation,

(18:55):
but you're not doing anything about it. You know. There
was this story about the Great Kobe Bryant, and Kobe
Bryant was a playoff game.

Speaker 6 (19:08):
It's a playoff game that they lost.

Speaker 1 (19:11):
That they lost.

Speaker 6 (19:12):
He missed the last three shots.

Speaker 1 (19:16):
Master, he missed the last three shots in the game,
and at the end he was he was sitting there,
sitting there on the bench and he you know, he's
had his hands on his head with his head down.
Then you know, eventually he got up and he you know,
was walking off the court. Reporter talking about how does
it feel? How does it feel? Kobe made it perfectly clear. Okay,

(19:37):
when he had his hands in his head, Okay, he
was thinking about what he did wrong and why he
missed those shots, and he said, now I know why
I missed those shots. So next time I'm not going
to miss them. Is that's what life is all about.

Speaker 6 (19:57):
You're gonna have obstacles.

Speaker 1 (19:59):
All alone along the way, and you can either decide
to blame them on someone, blame them on someone, you
can wind your way through it, or guess what you
can learn from the obstacles. You can learn from your
mistakes and you can overcome them and you can become
a success.

Speaker 6 (20:20):
This country has got to pick itself up.

Speaker 1 (20:23):
We've become a bunch of wusses for crying out loud.
Life is so hard. Suck it up, Buttercup. Watchdog on
Wallstreet dot Com. Watchdog on Wallstreet dot Com.

Speaker 6 (20:35):
Don't go anywhere, We'll be back.

Speaker 5 (20:38):
You should believe it.

Speaker 2 (20:40):
Chris Markowski is the watchdog on Wallston. All right, bringing
America finance freedom, one listener at a time. You're listening

(21:03):
to the Watchdog on Wall Street with Chris Markowski, ok
about everybody?

Speaker 6 (21:09):
It is the Watchdog on Wall Street show. You know
why not?

Speaker 1 (21:12):
I think it kind of goes along. We talked about
here for you know, past half an hour here on
the program. One of the things that we're now doing
at Markowski Investments, I'm working on a book. And no, no,
it's it's not a financial planning book. Okay, it's not.

(21:33):
We're working on a book right now about our clients.
We're working on a book about our clients and their
backstory small business owners, different walks of life, things that
they've done throughout the life to build their business. True
success stories. And again, I can't stand. I can't stand

(21:58):
all the woe is me crap.

Speaker 6 (22:02):
Around me all the time. I never could stand it.

Speaker 1 (22:06):
And again, yes, you guys are getting kind of like
a feel of when I coach kids. It's the same thing.
It's the same thing. You know, I all the time
go out on the field and make fast mistakes. When
I say, go out and make the field and make
fast mistakes the kids. One of my sayings to go
out and play as hard as you can. And I
know you're gonna make mistakes. Go out there and make

(22:27):
them and then get up and move on. Move on.
It's that that's life people. Okay, you let emotion drag
you down, and woe is me. You're not gonna make it, man,
you're not. And I'm I see these stories, these young people.
Oh yeah, I can't get ahead. I can't do this.

(22:49):
We'll work harder.

Speaker 6 (22:53):
I've told this story before.

Speaker 1 (22:54):
My father was a school teacher, but he had a
several businesses. He sold pool supplies, he had, we had
our janitorial business that I grew up.

Speaker 6 (23:08):
So when I was all a kid, I started working
for him. Yeah yeah, yeah, yeah.

Speaker 1 (23:12):
I clean toilets, clean toilets, mop floors, clean sinks. After school,
working for my dad, the different buildings in ed. I
remember when I was a kid. My dad would come home,
we'd have dinner together as a family. He'd go clean
a building. Then he'd get up before he had to
teach school. Get up at four o'clock in the morning,

(23:34):
do another building. Didn't go to work, people, I want Chris,
you get up every day. You got three thirty four
o'clock in the morning. How do you do that? Well,
you know what I just learned it. That's what you do.
That's what you do if you want to get to
a certain place. If you don't, you don't. But don't
blame others. I know the terrain is more difficult right now.

(23:59):
I know the house market is extraordinarily expensive. I understand inflation,
all of these things. I get it. I get it.
But then you take a look around the globe and
you see some of these these areas because again, we
don't get much international news.

Speaker 6 (24:16):
We'll see a little bit out of Ukraine.

Speaker 1 (24:18):
We'll see the horrors taking place there, the horrors that
are taking place in Gaza. We don't we don't get
much of the stories of people getting you know, Christians
getting hacked to death in Africa. I mean people, Okay,
sometimes you're gonna have to take a couple of steps
back and understand where you are, okay, and stop your moaning,

(24:41):
stop your complaining, and go out there and build, create,
protect and teach anyway, But you know, I gotta I
gotta mentioned it yet here on the program again for
all of our new affiliates constantly hading new stations here
which is amazing.

Speaker 6 (25:00):
This is what's going on with talk radio nowadays.

Speaker 1 (25:03):
People. We help everybody out at Markowski Investments, this radio show,
Watchgog and Watterre. We've been on the air since two thousand.
I was doing guests appearances even before that. We've never
turned anybody away. And this is why I invite each
and every one of you to get to our website.
Get to our website, sign up for our personal CFO program. Basically,

(25:26):
that's what it is, is what we do for our clients. Okay,
there are family, all kinds of our family, and we
can handle everything nuts to bolt. Say, you need accounting,
we can do that. You need legal, we can do that.
But of course managing your money. And I've said it
again and again and again, this is why I'm doing
this book about my clients. It's just you know, over

(25:48):
the years, you watch people build businesses up and nothing
makes us happier, Nothing makes us happier and see people succeed.
But guess what all of these only access stories, what
do you think that they were easy? No, no failures.
I kind I think amount of things that I've done
in my business, various different things that we tried that

(26:08):
haven't worked, han work, you know what, So what, pick
yourself up and move on. But again I invite y'all. Okay,
get to our website at Watchdog on Wallstreet dot com,
our personal CFO program, our podcast, our newsletter, all sorts
of great stuff, Watchdog on Wallstreet dot com.

Speaker 6 (26:29):
We gotta get back.

Speaker 1 (26:30):
We're gonna talk a little bit about the IPO market,
and we're gonna talk about yes, magic spells, magic spells,
investment advice, legalies, all sorts of stuff. We gotta go
Watchdog on Wall Street dot com. We'll be on.

Speaker 2 (26:44):
Mtage tick Streets, liars, crooks and cheets out behind the woodshed.

(27:04):
You're listening to the Watchdog on Wall Streets.

Speaker 1 (27:09):
All right, Welcome back, everybody.

Speaker 6 (27:10):
It is the Watchdog on Wall Street Show.

Speaker 1 (27:13):
Another column I saw on the Wall Street Journal last
week and I got to tear it apart.

Speaker 6 (27:18):
I'm talking about the ip O market.

Speaker 1 (27:22):
Yes, IPOs, the IPO market gets cold feet. True story
when I first started, when I first started in this business.
That's that's what the folks at the big firm had
us doing. They had us calling up calling old Dune
in brad Streets, calling up people and telling them we've
got an IPO, would you like one hundred chairs, a

(27:44):
couple hundred chairs, And that's what we did, and people
jumped all over it. Again and this is you know,
again early nineteen nineties, and back at that point in
time IPOs you were actually getting in at the bottom
where it's much much different today, where again, when companies
go public, more often than not, the company's been around
for a long time. I've already been around for like

(28:05):
ten years, may not be making any money, but they've
laddered the thing up, created a story.

Speaker 6 (28:11):
And the IPO is when.

Speaker 1 (28:13):
The insiders, the venture capitalists, get out. It was very
different back in the nineteen nineties, and we called it.
We knew exactly exactly that this was going to happen.
Wall Street during the nineteen nineties, towards the end there
they went nuts with the dot coms went nuts. They

(28:34):
were taking everything public, everything was going up. Everybody was
a guru. All you need to dot com and your name,
all these garbage companies. And when the you know, the
bottom fell out because they were garbage companies. Oh no,
we had to do something. I had to do something.
Nobody went to jail. Nobody in Wall Street went to jail,
even though they were lying to people telling everyone that

(28:55):
these companies were great and fantastic when they really weren't.
What they did they came up with a bill thousands
of pages. Bush just got into office Sarbines Oxley and
basically changed the dynamic when it came to IPOs and
we said, you know what, Well, Street will find a
way around. And this is when venture capital went crazy. Oh,

(29:17):
we know what we'll do. We'll we'll take companies and
we'll build them up and we'll keep Let they need
more money, I'll say, we'll give them more money. We'll
create a bigger story, we'll create a buzz, and then
eventually we'll blow out and we'll make the public greater fools.
And that, for the most part, is what has been
taking place for a long time. You can't get in

(29:39):
at the bottom. So its Wall Street Journal article talking
about the IPO market getting cold feet. They say, oh,
ex's markets are tough, right now, Why should it matter
if a company is going public that needs money. It's
going public to raise money for a business. Okay, Well,
what difference does it make what the market's doing. Again,
you're looking five, ten, twenty years down the road, that's

(30:00):
the goal. The IPO market has gotten cold feet because
they're worried about what's gonna happen in the fourth quarter,
what's gonna happen with the election. With the markets, it's
because the insiders are concerned that they're not gonna get
out at inflated prices. Have you actually taken a look
the companies that have gone public over the past five

(30:22):
ten years. I mean, the over ninety percent of the
companies that have gone public just over the past two
and a half years are trading below their IPO prices.
Why insiders sold? Insiders sold. It's the same racket, the
same scam that Stratton Oakmont, Wolf on Wall Street. It's

(30:46):
the same thing.

Speaker 6 (30:46):
It's just bigger.

Speaker 1 (30:49):
And one of the things we try to teach people here,
try to teach you there are no shortcuts. Don't look
for them through this nonsense. These people aren't not looking
out for you. You to you are a mark. You
are a greater fool that they're looking to push their
crap deals on. Stop being a victim. Build wealth slowly

(31:17):
over time. It works every single time.

Speaker 6 (31:22):

Speaker 1 (31:24):
Watchdog on Wallstreet dot Com Again, our personal CFO program, podcast, newsletter,
Take Advantage Watchdog on Wallstreet dot Com. We'll be back
what I've been.

Speaker 2 (31:39):
You're listening to the Watchdog on Wall Street. This is

(31:59):
the Watchdog on Wall Street.

Speaker 1 (32:06):
Yeah, McK jagger and the Stones, welcome back everybody. It
is the Watchdog on Wall Street Show. I laughed again.
I read a lot of obscure stuff and studies on this.
One was from MIT. MIT study. Recent study explains why

(32:27):
laws are written in an incomprehensible style. MIT cognitive scientists
believe they have uncovered the answer to that question. Just
as quote magic spells use special rhymes and archaic terms
to signal their power, the convoluted language of legalese acts
to convey a sense of authority.

Speaker 6 (32:50):
No kidding, It's.

Speaker 1 (32:52):
Not just the law. It's simple things like financial planning
as well. What we do we don't call it plamer,
we call financial preparation. They want to make you feel
like you don't know what you're talking. They make it
on purpose, They.

Speaker 6 (33:10):
Make it complex.

Speaker 1 (33:13):
People through. I go over our process and how we
do things at Markowski Investments and.

Speaker 6 (33:21):
Are going to do an investment book.

Speaker 1 (33:23):
It wouldn't be very long because quite Frankly, it's not
that complicated. They want you to think that there's some
sort of magic trick to it. Again, that they're not
wrong on this. They'd make things complicated on purpose in
order to make you feel like that you need them

(33:44):
for certain things, when oftentimes you don't in so many ways. Again,
you watch these some of the business programs on there,
and they start talking all this, especially when I start
getting into their technical analysis, various different charts and graphs,
and people's heads are spinning. I'm like, you don't have
to pay attention to any of that. It's not for you. Okay,

(34:08):
it's not for you, So don't pay attention to that.
Build wealth over time, compounding the Royal Road to riches,
understanding to buy assets on sale, Understanding that you are
buying companies, underlying ownership in companies where you're looking to
own them over time, Understand that you need to cut
and trim as positions go up, and reallocate assets. Simple

(34:34):
stuff people. Anyway, that is an example of this. Another column.
I mean, I'm really going after the journal this week,
Holy mackel. They're talking about they call it the tried
and true sixty to forty portfolio and four percent withdrawal
rate and retirement could lead to catastrophic outcomes if markets

(34:58):
behave differently than in the past. Yeah, sixty forty portfolio.
I remember learning about this way back when I got started,
and again that was part.

Speaker 6 (35:10):
Of you know, just just try droom. This is how
you gotta do things.

Speaker 1 (35:14):
And you know, I'd be raising my hand like Tom
Hanks and uh remember in Big I.

Speaker 6 (35:20):
Don't get it.

Speaker 1 (35:21):
That's that was me asking, I don't get it. I
don't understand why this is you know, the standard. Well,
they made it the standard because everyone would do it
and it would make their jobs very easy. Yeah, it
makes it.

Speaker 6 (35:33):
Back in the day, shlockbrokers, make this the shlackbrokers jobs.

Speaker 1 (35:38):
Sixty forty portfolio. That's the way to go, and this is.

Speaker 6 (35:40):
How you do it.

Speaker 1 (35:41):
And you know, then they can go out and they
could have the another three four martini lunches, Scott Scott, Scotch,
I love Scotch or whatever they were drinking. You know
what I'm saying. I never understood it. Sixty forty portfolio,
one size fits all for everybody. It's a mode of punk.
It's like these ridiculous funds that they put together oh yeah,

(36:03):
so you put these funds in, these target date funds.

Speaker 6 (36:06):
A yeah, target date, target date? Did you?

Speaker 1 (36:12):
It's just stupid.

Speaker 6 (36:13):
That is target date. You know, the date where you're
going to retire.

Speaker 1 (36:17):
Yeah, you know.

Speaker 6 (36:18):
It's funny. Charlie Munger.

Speaker 1 (36:21):
Again, everybody knows a big fan of Charlie Munger and
the late Charlie Munger. And we had this thing, he says.
He says, I don't how did he put it? He said,
I don't. I don't know. I want to know when
I'm gonna die. I want to know where I'm going
to die, so I know not to go there. It's
kind of like, oh, yes, yes, I'm gonna target date.
This is when I'm going to retire. This is this

(36:44):
is the date when I'm gonna get married. Oh come on, people,
you want to make God laugh, tell them your plans.
That's not what we do at Markowski Investments. It's financial preparation.
We're building wealth. So guess what you can take advantage
of opportunities throughout life? Life is not Hey, hey i'm
twenty one years old, I got my first job. Let's

(37:04):
set it, forget it, let's just put life on auto pilot.

Speaker 6 (37:08):
That sounds like a hell of a lot of fun.

Speaker 1 (37:10):
That was everything everything that I hated about growing up
in Albany, New York. I want to dis it was
a lot of nice things. Albany, Sarah Tolga's wonderful Lake George,
all that good stuff. But growing up in Almney, York,
everybody wanted to play so many people, not everybody, most people,
you know high school. Well, let's just get a job
with the state, basically putting your your life on setate
forget it. Ah. Yeah, yeah, I ain't gonna work these

(37:33):
many days, work this many years, and I gotta get
my pension time. I'd rather stick a hot poker in
my eye than do that. But again, to each his own.
So I got a lot of messages Chrish. Course you
were in you were a Fox business. They've quoted you
in one of your articles this past week. Yeah. You know,
the funny thing is is that I got a phone call.

Speaker 6 (37:57):
A phone call was on vacation.

Speaker 1 (37:58):
This was like a month ago, asking me about you know,
the recession, recessions coming. You know, that was when everyone
was freaking out because the markets sold off. Recession is coming.
And I've been saying all along, people if it wasn't
for all the government spending that was taking place, we
would be in a recession. And again the you don't

(38:21):
need you do not need the economists from you know,
the NBR to tell you what you're feeling. Reach and
every one of us can be our own own little
h economists. You're gonna trust these people that are perpetually
wrong on TV with their nonsensical models when you know
exactly how you feel in your own household, and you

(38:41):
know what you're paying, and you're seeing what your car
insurance costs on, you're seeing what your food costs are,
you're seeing everything going up, your dollars not going as far.
Does does it feel like everything is going well? Oh no, no, no, no, no,
We're not in a recession unless the uh the economists
call it. Come on, people, we're all smarter than this.

(39:03):
Gotta take a break. Watchdog on Wall Street dot com.
Watchdog on Wall Street dot Com is our site. You know,
we gotta we gotta get hold some of the politics
and stuff that's taking place.

Speaker 6 (39:14):
Gotta do it, Gotta do it.

Speaker 1 (39:15):
Watchdog on Wall Street dot Com again our personal CFO program, podcast, newsletter.

Speaker 6 (39:21):
Don't go anywhere, We'll be back.

Speaker 2 (39:28):
Chris Markowski is the watchdog on Wall Streets. Well known author,
investment banker, consumer advocate, analyst, traitor, Chris Markowski is the

(39:52):
watch dog on Wall Street. Do you want to answer
exposing the lines and myths that the big brokerage firms,
the main stream press, and the government are pushing to
keep Americans away from financial freedom.

Speaker 3 (40:05):
You can't handle the truth.

Speaker 2 (40:08):
financial world.

Speaker 4 (40:12):

Speaker 5 (40:17):
This is the watchdog Wall Streets.

Speaker 7 (40:22):
As many of you have noticed past week, past week
on the podcast I did, they got long, they got long,
I got Joe Rogan long, I got three hours long.

Speaker 1 (40:34):
But we changed a little over a year ago kind
of our format for our podcast. I try to keep
them short and sweet. You know, anywhere between five ten
fifteen minutes long one topic. This past week they were
everyone half an hour forty minutes long, and multiple ones
over the course of the day. Because it's crazy things

(40:58):
going on, crazy things transpiring out there, and when it
comes to politics in this country that it's again. I
could talk about it for hours on end, and again
I'm citing history and various different things, and there's a
reality out there.

Speaker 6 (41:20):
Because I do, I catch a.

Speaker 1 (41:21):
Lot of flak, a lot of flak from from people,
you know, yelling and screaming at me. You know, this
is going to be the end of the world. Harris and
Walls get elected. I listen, it's not going to be good.
I'm not saying that it is by any stretch of
the imagination, Okay.

Speaker 6 (41:37):
But you know there was one point at the d
n C and it went viral.

Speaker 1 (41:44):
Actually, is Chris Cuomo, Chris Cuomo, you know, formerly Frado
Corleone there from CNN. Now he's Chris Cuomo at News Nation,
and he's pointing up making the point that I make
all the time. It is almost the George Carlon Bitt
you have owners. And he was pointing at the luxury
boxes at the DNC and making the point that these
people are spending millions of dollars, millions of dollars to

(42:08):
pay for those suites. And at the DNC you got
all these people saying, oh, we're going to tax the
rich people. We're going to tax them, We're going to
regulate them. And he made the point saying, really, why
are they spending millions of dollars in those suites.

Speaker 6 (42:25):
And people.

Speaker 1 (42:27):
I'll talk about, you know, the so called democracy that
we have. And I've made this point before. You can
look at history. You know, Rome was a republic for
a period of time and then it turned into what
turned into an empire. We have been drifting for some
time as a nation, quite frankly, in the wrong direction

(42:50):
in more ways than one. And I'm here to tell you, folks, okay,
it's it's the elephant's fault. It's the donkey's fault, both sides,
both sides to blame. We continue to give up our
freedom again. We don't even know what the word means anymore.

(43:12):
We really don't. I've done podcasts I've talked about on
the show redefining what the word means. I would say
fifty percent of America thinks freedom is oh free, freedom
means free stuff from the government, handouts, giveaways. I want
my Obama phone, I want this, I want that, Freeman.

(43:34):
But go back to FDR. But he said freedom from want.
What does that mean? Freedom from want?

Speaker 6 (43:42):
All, Maria?

Speaker 1 (43:43):
Freedom from want? That means you don't have to I mean,
are we serious here, but no, that that's the way
we've been drifting for some time. I watch, I watch
Kamala Harris. It's not even Kamala Harris, Okay, her campaign.
Her campaign comes out and they say things, they say

(44:07):
things that they are now for a border wall, they're
not for Evy mandates. I go right down a list
of complete contradictions.

Speaker 6 (44:19):
Gotta take everybody back in time.

Speaker 1 (44:21):
We'll go back to two thousand and four and George W.

Speaker 6 (44:26):
Bush versus John Curry, George W.

Speaker 1 (44:30):
Bush versus John care But again, I was at the
Republican National Convention at that time. Remember that how much
trouble Carrie got himself into because he said I was
to for the Iraq War. I voted for it before
I was against it. And at that one sentence, oh
my god, at the Bush rallies, people would bring flip flops.
You remember that twy four, twenty years ago. Twenty years ago,

(44:55):
again he flip flopped on that position. And man, oh man,
just drive that home, Harris. I mean today, with social media,
you go online, you see videos of Harris saying the
exact opposite what she stands for from what her campaign
is saying at this point in time, have we gotten

(45:21):
that dumb? Maybe again? I again, we used to back
in two thousand and four, was no social media. You know,
people would would would look look to the mainstream media
for their news and they were crooked back. That was
the year Member it was the fake but true documents scandal.

(45:43):
Remember that Dan Rather lost his job. Yeah. Yeah, They've
always had their their you know, finger on the scales.
We all know that. Okay, but I'm gonna give credit.
I've been hammering the Wall Street Journal some of their
their their articles, but Daniel Hanneger is one of their
columns for their their opinion page. And he made a

(46:06):
really good point talking about how you know you watch
people today. You watch people today and they're always on
their phones all the time. It drives me nuts, it
really does. It drives me nuts. I'm telling you people,
you want I guarantee you you want to be a
happier person on a better like put the damn phone down.

(46:29):
And he kind of explained, it's like everybody is not
looking for anything in particular, They're just looking for something new.

Speaker 6 (46:37):
I never got it.

Speaker 1 (46:38):
I can see people on Instagram. I'm just looking at
people's pictures and people taking Why why would you do that?
I don't get it. Yeah, again, I understand the use
for these things, but they're abused. And again I don't
you know. People consciously they see in Kamala Harris all

(46:59):
of these things that are coming out, all of her
new positions, and I guess they're buying into this. And again,
these positions are coming from her campaign, They're not coming
from her. What does that tell you, people? What does
that tell you about who's really running the show? I mean,
not curious at all, all of you people that are

(47:21):
behind the donkeys at this point in time, You're not
curious at all that Joe Biden has gone. I've seen
him two weeks. Who's running the country? Who's running the country?
I get the if I was a if I was,
you know, had the ability to be a journal call,
I would be calling up I would be using my

(47:42):
sources inside of China, inside of Russia, our enemies try
to find out who's actually running the country at this
point in time. And does anybody actually believe you see
Kamala out, You see when she speaks. I went this
past week, She's in front of a high school. I

(48:03):
was like, are you kidding me? Okay, this is not
a very deep person by any stretch of the imagination.
They flipped her, They flipped the fact that she makes
a fool out of herself when she speaks, and she's unpopular,
and they flipped it to Joy. And that's what you're

(48:25):
voting for. I don't know what I mean. I understand.
I'm well aware that there is a large swath of
our population that are will vote simply for the.

Speaker 6 (48:39):
Left wing sacrament of abortion.

Speaker 1 (48:41):
That's it.

Speaker 6 (48:41):
That's all they're voting on.

Speaker 1 (48:43):
That's all they care about, which, quite frankly, is pretty
disgusting if you ask me that are you know, the
pronoun people, the alphabet people, and you know, you know
which way they're voting. Okay, the overwhelming majority, how that's
going to go. What I'm saying people, is that we

(49:05):
have again, I gotta go back to that George Carlin bit,
we have owners, we have owners. We're voting for Oligarch.
So one thing about Trump, and again, I wasn't supporting
him back in two thousand and six, sixteen. I was
a ran pole guy at that point in time, and
quite frankly, I wish you know, I don't even think it.

Speaker 6 (49:28):
Would be close. I think we all agree.

Speaker 1 (49:31):
I think we all agree that, come on, if it
was Ron DeSantis, that it wouldn't be close. Right now,
we all know this, But you know, this is what
we have right now, This is what we have. And
I don't agree with all Trump's policies by any stretch
of the imagination. But I don't even know where kamalain

(49:55):
what their policies are. I don't even know who's running
the country. They're flipping around on everything. For crying out loud,
it makes no sense, it doesn't. And again I want
to get back to, you know, oligarchy, republic, capitalism, because
we got a capitalistic system here in this country. I've

(50:15):
said it again and again and again. We don't.

Speaker 6 (50:19):
We don't.

Speaker 1 (50:21):
I understand this, I understand the terrain, and you need
to as well. Okay, listen, all right, governments take it
with governments right now. Take about our government. Our government
is a big customer of tech media, social media, and

(50:43):
basically it is a great piece by Jeff Tucker on
this in the Brownstone instance, basically instilling an ethos of
political deference and cooperation resulting in what and go all
the way back to Bush Patriot Act all.

Speaker 6 (50:57):
The stuff that came out, well, Wiki leaks, Gilly.

Speaker 1 (51:00):
Clinton wanted to drone Julian Assange. She said that she
wanted to use a missile to take out Julian Ussan.
You know how sick that is. Yeah, they applaud her,
give her a speaking spot. There got surveillance, propaganda, censorship.

(51:21):
Why do you think, what do you think the government
is so interested in getting its hands on that TikTok
algorithm just to make it easier to sell the public
their bs. Take a look at the world of medicine
here in this country. Medical cartel working with regulatory agencies,

(51:43):
official institutions. Wow, poisoning people, crazy prices to cooperate with
various different business cartels, blocking any sort of alternatives that
are out there. Yeah, take a look at the health
the amount of money we spent t look at this country.
It's pathetic, quite frankly. And we'll talk about RFK Junior

(52:04):
a little bit later. Think about our educational system. Government
funded blocks, competition, forces participation, wastes students' time, pushes political agendas,
be compliant, obey in doctrination. Again, we're not not teaching
kids to be critical thinkers. Agricultural subsidies that build vast

(52:31):
industries that crush smaller farming and capture the regulatory apparatus
and voice bad food on the public.

Speaker 6 (52:37):
I say this all the time. I live here on
Long Island. Then you go out.

Speaker 1 (52:43):
East with some of the best soil farmland.

Speaker 6 (52:46):
Here, it's not big agg though, it's not big eggs.

Speaker 1 (52:50):
So what do they do. They plowed under all their
food and then they plant grapes and they make bad
wine because guess what, Long Island doesn't have the proper
climate for wine.

Speaker 6 (52:59):
They don't, So basically they make bad wine.

Speaker 1 (53:02):
And they have people going out there and pretending that
they're a NAPA and taking pictures. You're going to compare
our food to other places around the globe to joke.
Our tax system complicated, confiscatory, punishes wealth accumulation, blocks social

(53:25):
mobility in all directions. It does people. It's part of
what we do is help people to build wealth and
to navigate all the crap, all the taxes, all the nonsense,
all the obstacles that the government is doing to keep
you down. But our dollar, yeah, Fiat paper money, floating

(53:47):
exchange rate. Born in the same year I was born,
nineteen seventy one giving the government unlimited funds, unlimited funds,
spend whatever you want, print more, creating what inflation, court system,
extortionist litigation.

Speaker 6 (54:06):
The only way you can fight is you got to
have deep pockets.

Speaker 1 (54:10):
Patent system that grants private industry production cartels, stops competition
for everything from pharmaceuticals to software to industrial processes. Property rights,
they keep weakening those all the time, overridden, abolished, Not
to mention the fact that you never really own anything
in this country anyway, because if you don't pay your

(54:32):
property taxes, they take it.

Speaker 6 (54:35):
And then again you talk about the size of government, four.

Speaker 1 (54:38):
Hundred and twenty agencies, a federal budget in the trillions
of dollars where they hook each other up. Doesn't matter
how much you screw up, how bad you are at
your job, You're gonna find a landing place somewhere as
long as you're a part of the big club. Does
that sound like capitalism to you, Nah, they neither. But again,

(54:58):
that's the terrain. That's what we're dealing with right now.
I'll point it out. I'll point it out, but we'll
continue to fight it and we'll continue to navigate it.

Speaker 6 (55:08):
That's what we do. You gotta take a break.

Speaker 1 (55:11):
Watchdog on Wallstreet dot com, Watchdog on Wallstreet dot Com,
our personal CFO program, podcast, newsletter, you name it, Watchdog
on Wallstreet dot Com. We'll be back.

Speaker 2 (55:37):
The only man who is taking on the Wall Street establishment.
You're listening to the Watchdog on Wall Street with Chris Markowski.

Speaker 1 (55:46):
Here, I'm gonna give to everybody a reality Okay, this
is a reality check. This is a fact of life. Okay,
fact of life. Life isn't fair, not fair. Whoever told
you that life is fair?

Speaker 6 (56:04):
We're gonna work towards you qual I'm gonna work towards
fairness is lying to you.

Speaker 1 (56:11):
It's not. And the sooner you realize that and deal
with it, the better off you're gonna be.

Speaker 6 (56:17):
I was reminded of a was it Louis c k.

Speaker 1 (56:21):
He had a television show way back when, and he
got into this little argument with his daughter who was
upset because she didn't get a popsicle because it wasn't
a left and it's not fair, it's not fair, and
he's like, what does that mean? I don't even know
what that means. Life's not fair. And you see this
all the time. Again, we point out we point out incompetence,

(56:46):
whether it be in business, whether it be on Wall Street,
whether it be in politics. And we've been doing it
for some time. Last week he watched the Commerce Secretary
of the United States, Gail real Mundo, and she was
asked about the lies that the Labor Department was putting
out in regards to the jobs numbers that have been
reported that we told you, we told you that's all

(57:07):
food geyzy. It's a food gaysy, it's a forgezy's the
beautiful things jobs numbers. No, no, no, no, no no, it
was a beautiful thing. It was a foogazy okay, And
she blamed Trump. I don't trust anything. Trump says. She
didn't even realize. She didn't realize it came from the
Labor Department. You get this story. Oh my god, we

(57:27):
get seventeen seventeen naval ships that we have to we
have to dock. We don't have enough sailors, you know,
as it turns out, no, we got more than enough
naval sailors.

Speaker 6 (57:36):
We don't have any merchant marines for the support ships.

Speaker 1 (57:40):
And who's in.

Speaker 6 (57:41):
Charge of that?

Speaker 1 (57:42):
Mayor Pete mayor pete another DEI higher Anyway, people in competence,
you're gonna win. It's it's everywhere, It's everywhere. I mean
with Carly Fiorina, I highlighted that again she are so
one of the greatest business female business owners.

Speaker 6 (58:03):
I'm like, she bought Compact. Why would she do?

Speaker 1 (58:07):
I mean, Marissami, I go off on all these people,
all these failures and the incompetence, and if you ask yourself,
how in the world did they get to where they are?
And when you're younger, I admit, when I was younger,
I would be in, you know, meetings on Wall Street

(58:27):
and you meet the head analyst of some firm, the
retail antist Goldman Sachs, And I'm talking with this guy,
Ivy League, got a lot of merit badges, a lot
of merit badges, went to a lot of great schools. Oh,
he's a brilliant, brilliant guy, never even stepped foot in Walmart.
He's a head retail antist over at Goldman Sachs. They're
not smart, They're not.

Speaker 6 (58:48):
They've collected merit badges.

Speaker 1 (58:51):
And the sooner you realize, the sooner you realize that
people end up getting themselves into positions and you're gonna
get mad. This is not fair. Yeah, it's not fair.
It isn't okay, but so what, so what you move
on from it? You laugh at them, and yeah, we've

(59:14):
got a system in place here in this country where
we have many incompetent people in positions of power. And
I'm sorry, this is not This is not a donkey
thing or an elephant think, it's both sides. How in
the world you remember? Remember what was? It was Mike
Brown Remember a Brownie. You're doing a hell of a job.

(59:34):
Remember George W. Bush, He was in charge of FEMA.
The guy ran horse shows before he got that job.
How the hell did he get that job? Well, his
family probably cut George W. Bush checks. How the hell
do you become an ambassador to the Bahamas? Well you
raise a million dollars for the candidate. Your candidate wins. Okay,

(59:56):
this is our system, people, it's pay to play, which
leads to a lot of incompetent people in positions of power.

Speaker 5 (01:00:08):
It is what it is.

Speaker 1 (01:00:10):
Watchdog on Wallstreet dot com, watchdog on wallstreet dot com.

Speaker 2 (01:00:18):
You're listening to the watchdog on Wall Street. You should

(01:00:39):
believe in math, not magic. You're listening to the Watchdog
on Wall Street with Chris Markowski.

Speaker 1 (01:00:48):
Yeah, I get people. You know, I talk about these
things here on the program. I just you can't let
these things consume you. You can't. You can't let them
cons again, are our thing here, like we've been trying
to teach everybody. You want to make the country better,
Like I said, build, create, protect, and teach. You can't

(01:01:10):
let the liars. You can't let the crooks. You can't
let the thieves. You can't let the incompetence out. You
can't let them ruin your life and drag you down.
You have to rise above it all. As this past week,
you had Mark Zuckerberg come out and confirm confirm that

(01:01:30):
the Biden Harris administration told them told them to censor Americans.
The FBI put pressure to silence the Hunter Biden laptop.
The f B I we've been screaming and yelling for

(01:01:53):
years saying, hey, yet I need to be shut down.
To see he needs to be shut down. All of
these these are bad organizations. The Joe Biden got into
office less than a day. He authorized the FBI to
basically do what they want when it came to social
media scour and then they gave that information to the CIA.

(01:02:15):
Could you imagine can you imagine if the story was
Mark Zuckerberg confirmed that the Trump Pence administration pressured them,
pressured them to censor Americans. I mean it would be
it would be bold face prints in the New York Times,
like you know, man landed on the moon. All right,

(01:02:37):
we all know this. It's not fair. It's not fair,
but it's the reality. It's the reality. You have been
lied to? How many times? Again? We try to get
as much out to the people as we possibly can.
I've got my podcast, got my radio show on TV. Yeah.

Speaker 6 (01:02:57):
Do I post things that we say?

Speaker 1 (01:03:01):
Videos?

Speaker 6 (01:03:02):
Whatnot? Appearances? Podcast?

Speaker 1 (01:03:03):
Could we vlogged our podcasts as well as videos out there?
You how many times I get put into social media
jail by Mark Zuckerberg? And everything that we posted was accurate,
Everything was factual, everything, everything, Ah, this doesn't meet community standards.
What being honest? Being truthful? Again? You know, people, we

(01:03:29):
don't understand what that word freedom means anymore, and we
obviously don't understand what free speech means anymore. And it's
a shame it is. I was, uh, I was thrilled,
thrilled to see that Robert F. Kennedy is I think,
for all intents and purposes, kind of dropping out of

(01:03:50):
the race supporting Donald Trump. I've done several podcasts, I've
talked about him here on the show, and mag is
getting upset with me, real upset. I support as Kenny,
the weft wing loans tree hugger. There's tree hugger. I'm
you know, I raised my hand. I'm a tree hugger.

(01:04:11):
I'm I'm a big time tree hugger. Okay, I'm not
a I'm not a believer in carbon crap and global warming,
but I'm most certainly aligned with Robert F. Kennedy when
it comes to.

Speaker 6 (01:04:26):
Habitats.

Speaker 1 (01:04:29):
We'll get into that a little bit, and I you know,
I've actually talked about it in the program. You know,
I strongly considered voting for Robert F. Kenny this time
around if he had a shot at winning, even though
I disagree with certain things. But to watch watch his speech,
and I highly recommend you go if you hadn't seen

(01:04:50):
the entire thing. I know that the media cut away
from it, go and watch the entire thing and just
you know his story and what he's been through. Again,
these people talk about democracy and the right to vote
and all they did, all the lawsuits they filed against
him to keep him off ballots, making it nearly impossible.

(01:05:12):
Then he pulls out of the race, and now they're
suing to keep him on the ballots. Do you know
how sick and twisted these people are. See, this is
not about policies. This is about money. Do you understand
this is about power? Nobody, nobody fights that hard, Okay
for their little policy position to build a bridge somewhere.

(01:05:35):
They're doing it because they're getting paid. They're doing it
because of power. This is their career. Career politicians. They're
a damn virus for crying out loud. Anyway. Oh you
know what, before we get into the yeah I'm a

(01:05:57):
tree hugger environmentalist stuff, I wanted to get in to, well,
let's take a break right here, will. I got to
kick into some of Robert F. Kennedy's positions and again,
things that I see very much eye to eye with
the manager.

Speaker 6 (01:06:09):
Watchdog on Wallstreet dot Com.

Speaker 1 (01:06:11):
Watchdog on Wallstreet dot Com again is our site, our
personal CFO program. Learn how to navigate financial storms, corrections, volatility,
how to recognize serious risk, discern the difference this is
most important between the conventional wisdom of the day and
the reality of the terrain.

Speaker 6 (01:06:31):
Watchdog on Wallstreet dot com. Sign up there, we'll be back.

Speaker 2 (01:06:50):
Bringing America financial freedom one listener at a time. You're
listening to The Watchdog on Wall Street with Chris Markowski.

Speaker 1 (01:06:58):
Yes, I am a conservative guy, I'm a libertarian. What's
the first part of the word conservative, conserve? Conserve?

Speaker 6 (01:07:06):
I am talk.

Speaker 1 (01:07:08):
I'm green. Yeah, I'm an intelligent, green conservative. I'm not
one of you idiot environmentalists out there that thinks that
CO two is wrecking the planet, that fossil fuels is
gonna destroy us. All that is the biggest load of
bunk everywhere. Again, you don't understand how you can you

(01:07:32):
you don't even want to admit that you're wrong because
you've been doing.

Speaker 6 (01:07:36):
This for decades and you've been fleeced.

Speaker 1 (01:07:38):
We've all been fleeced.

Speaker 6 (01:07:41):
I remember back when they're all, yes, this is a
great idea.

Speaker 1 (01:07:44):
Yeah, we're gonna we're gonna get Wall Street involved, We're
gonna do carbon credits. We should trade carbon. And I'm
saying to myself, oh my god, Wall Street. They've almost
got people convinced that they're gonna actually trade air they're
gonna actually buy and sell air. I mean talking about
creating assets out of thin air. There you go, that

(01:08:05):
is creating an asset out of thin air, and Wall
Street would have made a fortune. I still wouldn't be
surprised that they don't try to resurrect that. Remember, Al
Gore is Live Earth Concert asking people to send him
cash because your carbon footprint. I'm giving fifteen thousand dollars
carbon credits in the Oscar schwag bag for all the

(01:08:30):
useful idiots out there that believe in this BS. It's crap,
all the subseeds, all the money that we've spent subsidizing
electric vehicles, like it was the answer. And I don't
have any Like I said, i'd any problem with electric vels.
They have a purpose but to force people to drive
these things. And take a look at the losses that

(01:08:52):
Ford has been taken. It's nonsensical. RFK Junior said something's
being interviewed by Carlson that that I happened to believe in.

Speaker 6 (01:09:03):
Okay, you know, God speaks to us many many ways.

Speaker 1 (01:09:09):
Anyways, Prayer profits and also I think through nature as well.
I grew up again, like I said, up in Upstate
New York and the Hudson River. Hudson River when I
was a kid, was destroyed, basically destroyed by General Electric

(01:09:29):
who dumped millions of tons of PCBs and they're still
cleaning it up to this day. Robert F.

Speaker 6 (01:09:36):
Kend it was a part of that the river keepers back.

Speaker 1 (01:09:40):
At the point in time, you take a look, like
I mentioned before, how we do farming here in this
country and what we do think about the farmland that
we waste on corn corn, the farmland we waste on
corn because we got to put corn into cars via ethanol,

(01:10:01):
and all the phosphates that get into the Mississippi River
that work their way all the way down, polluting the
Mississippi River into the Gulf of Mexico, causing all sorts
of ridiculous allergy blooms, red tide. You want, you want
to fix the environment, you fix habitats, You grow trees.

Speaker 6 (01:10:24):
Ohio River the dirtiest.

Speaker 1 (01:10:26):
River in the imagine if we spent all this money
on just maintaining habitats, cleaning up messes, how much better
we would be.

Speaker 6 (01:10:41):
And this is on both sides.

Speaker 1 (01:10:43):
I go after they see, I see, I saw this
happen big time in certain areas in Florida when you
get developers influence, and the.

Speaker 6 (01:10:52):
Time is the Republicans a, we.

Speaker 1 (01:10:54):
Gotta, we gotta pave paradise, so we gotta put up
a parking lot Joni Mitchell over a wetland somewhere, and
then they wonder why things fun. There's an intelligent way
of maintaining our environment and goes back to when I
was in boy Scouts. You go camping, you leave the
campsite better than you better when you left and when
you got there. Watchdog on Wallstreet dot Com We'll be back.

Speaker 2 (01:11:20):
Chris Markowski is the Watchdog on Wall Streets, taking Wall

(01:11:41):
Streets liars, crooks and cheets out behind the woodshed. You're
listening to the Watchdog on Wall Street.

Speaker 1 (01:11:55):
Welcome back.

Speaker 6 (01:11:57):
Listen again.

Speaker 1 (01:11:58):
There's only I only have three hours here every single
weekend on this program. And that's why again we do
our podcast every single day. Past week I went into
a great detail into many of different, many of Robert F.
Kennedy's positions that again we've been pushing here on the
program for some time. And he actually cited Calli and

(01:12:18):
Casey Means and the work that they're doing talking about
our food and what we're putting into our mouths and
how sick we are as a nation. And it's staggering.
And it's just the awful, the awful food that we
put into our mouth. I avoid it, but Americans don't

(01:12:38):
take a look at just how unhealthy we are in
comparison to other places around the globe. And again, we
want to make we want to make the country healthy again.
Everybody go into doctor's healthcare expenses through the roof. We
could get that done. You understand it. It's a national

(01:13:01):
bloody security concern. Most Americans can't even qualify for military
service young people. They're so woefully out of shape. That's
not good people. And again I cover this, and like
I said, I highly recommend sign up for our podcast.

(01:13:22):
You can go and you can get into all the time.
I don't have enough time to go over all there
on the weekend.

Speaker 6 (01:13:26):
I'd have a ten hour show. But I do have
to talk a little bit about.

Speaker 1 (01:13:32):
Some of Kamala Harris's tax increases. First and all, it
was hilarious this past week. I don't know the name
of the guy. Again, my opinion, one of the better
better news programs they call it a business, is Squawk
Box on CNBC, and again it's they do a lot

(01:13:53):
of business. Obviously it's CNBC, it's Squawkbox, but they do
a great job of holding people's feet to the fire,
and they do a lot of politics on There were
in policy as well, and they had somebody from the
Harris campaign, Harris campaign talking about the tax, the unrealized

(01:14:14):
unrealized gains tax that Kamala Harris is looking to push,
and the gag was comparing it to property taxes.

Speaker 6 (01:14:23):
I mean, the argument was so bad. I mean they
ripped them.

Speaker 1 (01:14:28):
They've got nothing. And I want to tell you again,
I get crazy callers and emails and nasty stuff and
it's part of, you know, part of the what my
job is. There was a funny one this past week
and I was debating I've never done it. I've never
played any of the crazy phone calls that I get
from people. Sometimes I read about some of the messages.

(01:14:49):
But this person was upset. It called me a moron
a hundred times after saying like, like you're a moron,
like like you're a more on, like elon must like
he should have to like pay pay unrealized like and
it was just it was hilarious. To listen to. And
again people don't understand, they don't think, they don't think.

(01:15:14):
Oh it's yeah, it's real simple. You know you're gonna
have a you know, twenty five percent tax on unrealized gains.
All right, this is what would happen. Okay, this is
what would happen. Let's just say, and this is it's unconstitutional.
For crying out loud, it's unconstitutional. The only reason why
we have an income tax, tax on income is that

(01:15:36):
they there's a constitutional amendment. So anyway, anyway, and again
that doesn't stop, that doesn't stop. You know, politics, they
don't care about the Constitution. They don't they don't care
that you know, who knows. They may put this through
and then try to pack the Supreme Court to see
things their way.

Speaker 6 (01:15:55):
But anyway, neither here nor there.

Speaker 1 (01:15:58):
If you have a massive position in a stock that's
up and you have to sell to pay that bill,
it says like you look at guys like Elon Musker,
you look at Jeff Bezos. Okay, they say that their
worth is whatever that is on paper. Okay, they don't
have it and cash. So if Jeff Bezos has to

(01:16:21):
pay an unrealized gain on his position in Amazon. He
is going to have to sell a massive amount of stock,
a massive amount of stock to pay that, which would
do what to the price of the stock? It would
take it, It would take it. It would tank people's.

Speaker 6 (01:16:45):
Portfolios all over the country.

Speaker 1 (01:16:47):
Not to mention the fact that you would get you know,
hedge fun guys starting to short stocks in anticipation that
they were going to have to sell, causing an absolute disaster.
Would be a forced sale. You remember a couple of
weeks ago onn't too long ago, the world was gonna end.
Japanese carry trade markets went down. Why there was forced selling.

(01:17:12):
That same thing would happen all the time because people
would be forced to sell. People be forced to sell
their businesses, they'd be forced to sell their real estate.

Speaker 6 (01:17:27):
Do you think these people are going to stand for that?

Speaker 1 (01:17:30):
Or do you think they're going to turn their passport
in and move to Singapore or Portugal or Tuscany. I know,
I would.

Speaker 6 (01:17:42):
I know you're gonna come at You're gonna come.

Speaker 1 (01:17:44):
After me and the business that I built because you
say it's worth something, and I'm gonna how do I
how do I liquidate?

Speaker 6 (01:17:52):
How do I liquidate a a A business?

Speaker 1 (01:17:55):
That I own with my brothers to pay your unrealized
capital gains tax.

Speaker 6 (01:17:59):
You're gonna tell me I gotta sell off my positions.

Speaker 1 (01:18:02):
Yeah, yeah, but it's only gonna be people over one
hundred million dollars.

Speaker 6 (01:18:05):
That is the biggest load of bs going.

Speaker 1 (01:18:09):
Okay, go back to see the original income tax and
who was supposed to hit and see what it does. Now.
Once at tax gets started, Okay, it just expands. It
just expands, and it never ends. It never ends. Are
gonna find more people are gonna find other ways of

(01:18:31):
getting you to send them your hard earned dollars. That's
what you're dealing with right now. It is absolutely, unequivocally
impossible to pull off anyway, morons.

Speaker 6 (01:18:49):
That's what your honestly you are.

Speaker 1 (01:18:50):
You are brain dead if you think it's possible. Watchdog
on Wallstreet dot com. Watchdog on wallstreet dot com, don't
go anywhere We'll be.

Speaker 2 (01:19:06):
You're listening to the watchdog on Wall Street. Well known
authored investment banker, consumer advocate, analyst trader Chris Markowski is

(01:19:31):
the watchdog Wall Street, exposing the lines and myths that
the big brokerage firms, the mainstream press, and the government
are pushing to keep Americans away from financial freedom.

Speaker 3 (01:19:44):
You can't handle the true.

Speaker 2 (01:19:47):
financial world.

Speaker 4 (01:19:51):

Speaker 5 (01:19:56):
This is the watchdog wall streets.

Speaker 1 (01:20:01):
Ah right. I don't saw this one either. It was again,
it was I gotta give kudos to squawk Box again.
They actually I was moving my uh moving my my
young one into college, and my wife's like, honey, we
gotta go, we gotta go, we gotta go. And I was,
you know, We're at the hotel, and I'm like, I
gotta see this, babe. I'm sorry, I gotta see this.

(01:20:23):
Elizabeth Warren. It was coming on squawk Box to defend
Kamala Harris's price gouging.

Speaker 6 (01:20:32):
Policy, and I got she got her ass whooped, you know.

Speaker 1 (01:20:37):
The way to put it. It was an old fire.

Speaker 6 (01:20:41):
I mean, she got caught in every bit of left
wing bs.

Speaker 1 (01:20:48):
Again.

Speaker 6 (01:20:48):
They put her out as being.

Speaker 1 (01:20:51):
Smart. Maybe I don't know, maybe she is, maybe she's
a really good liar, but I guess she gave made
up this whole thing about craft and Craft's profits and
looking how much profit they had, and again she's got
her feet held to the fire. Joe Cerr's like, well, yeah,
they had a big profit gain because they had to
take a charge the year earlier. It wasn't nearly as big.

(01:21:13):
And people don't understand margins and all of this stuff.
But again butt kicked because again it's just plain stupid,
and again stupid ideas appeal like they again they unrealized tax,
capital gains, tax and price gouging.

Speaker 6 (01:21:33):
Stupid ideas appeal to stupid people.

Speaker 1 (01:21:36):
And I don't mean to be me. You don't have
to be Eventually you can become smart. You can actually learn,
and you think about smart people. Let me tell you something.
Is they they understand that they don't know what they
don't know. Okay, it's it's a thing you get all
these people out there. Oh yeah, let's say that sounds good. Okay,

(01:21:58):
it sounds good. But how does it work in the
real world. How about thinking this through a little bit
and how about looking to see what she wins. Price
gouging has been tried and it fails every single time. Anyway,
I saw this story as well again and it kind

(01:22:22):
of went viral. You know, people pulling their hair out.
I don't live in California, and God bless all of
you people that live out there. So California, California is
going to UH reward illegal aliens with the zero down,
no payment home loans. And I thought about it a

(01:22:45):
little bit here because again we're talking about people complaining
about home affordability and it's a problem.

Speaker 6 (01:22:50):
I said, this is what you need to do.

Speaker 1 (01:22:53):
What you need to do. You need to go on
vacation to Mexico. Okay, so do you go on vacation,
go to Mexico. You lose your passport. Lose your passport
in Mexico. What you do is you sneak into the country.
Sneak into the country, become illegal, move to California. Then

(01:23:14):
you too, you two can get a zero down, no
payment home loan. I mean, this is hilarious to me.
It's hilarious to it, but I don't live there. Again,
you voted for this. Basically, they're gonna give you the
down payment for your home and maybe you have to

(01:23:34):
pay it back, maybe you don't. I guess when you
sell the house at some point in time, and we
know how that's gonna work out. They're never gonna recoup
any of that money. Now again, how do you think
that that's gonna work out for housing prices? Government subsidizing
down payments. What happens when the government subsidizes anything, price

(01:23:58):
goes up. Government subsidizes anything, the price is gonna go up.
So you think affordability is going to be better? Not
to mention the fact, I'm sorry, you're not entitled to
a home. Okay, I'm sorry. I don't get this. Oh yeah,
I are entitled to free health cod I don't go
a free home, and it's gonna be free food, it's

(01:24:19):
gonna be free everything. You're not entitled to it. You're
entitled to go out and get it and earn it
on your own. And yeah, you might have to work extra.
I may have to work a couple jobs. So what
I did? You can't too much to ask? You really
think that it's fair that your fellow citizen, your fellow taxpayer,

(01:24:43):
should pay for the down payment on your house, pay
for your student loans, pay for your health care? What else?
What else do you want from me? Huh?

Speaker 6 (01:24:55):
What else do you want from my listeners? My clients?

Speaker 1 (01:25:02):
Anyway? All right? You know I mentioned drop my kid
off and I'm still processing it. My wife and she's
taking it. Oh, I don't know how I get. We're
both kind of quiet about it right now. Yeah, brand new,
empty nester brand and without a doubt, I have to admit,
it's like a door shut. It's like a door shut,

(01:25:26):
book over chapter, whatever it may be. You know, you
think back, you think back.

Speaker 6 (01:25:34):
My kids for the.

Speaker 1 (01:25:35):
Past, you know, past twenty something years, lacrosse tournaments, coaching,
you know, high school game, I mean, you know everything.
The center, the center of my life, my wife's life.
And it's again, I'm processing it right now. It's not

(01:25:56):
like that they're still not the center. I would talk
to them all the time. And again I say this before,
I think kids really need you really need your parenting
once they go off to college. Quite frankly, but again,
I talked about it this past week. You know, kind
of this baby bonus nonsense that Kamala Harris and JD.

(01:26:18):
Vans are in. You know how much money baby bonuses
here Kamala Harris proposing a six thousand dollars baby bonus
after JD. Vance proposed a five thousand dollars baby bonus.
Mind you mind you earlier on this past month, Republicans
rejected and expanded child tax credit.

Speaker 6 (01:26:39):
I am quite frankly, I don't get this.

Speaker 1 (01:26:45):
I don't I don't. I don't see why and how,
because again this is this is not a tax deduction.
This is a credit. They're given away cash. United States
America's like the Oprah Winfrey Show, given stuff, have a
baby word, give it away cash. Having a baby is

(01:27:08):
Having kids are expensive and as all the first year
of the child life six thousand dollars. You know, way
do they get older? You're gonna see what things cost?
Is that gonna be next We're gonna have a Oh,
we're gonna have a high school credit, and we're gonna
have this credit. We're gonna have that credit. No again, people,

(01:27:31):
I'm just saying, if you can't afford to have children,
maybe you shouldn't have children. Since when I don't get this. Here,
we have a tax code at seventy eighty thousand pages long,
got a zillion deductions in there.

Speaker 6 (01:27:49):
You want to figure out some other deduction.

Speaker 1 (01:27:52):
And again I'm for simplifying the tax code rather making
it more complex. But what credits again? You know it's
you get both the elephants and the donkeys. Both trying
to out dumb one another, quite frankly. Anyway, Ah, talk
a little bit about inflation here. I don't know that

(01:28:15):
this was an actual Wall Street Journal Wallster. This is
the standard bearer as far as financial news is concerned.
Inflation usually hits harder for poor families. For a couple
of years, it didn't. Now I saw the headline, and
the headline to me was so bizarre. I read it again.

(01:28:37):
I don't know if that's because they're trying to make
them bizarre, making them clickbait, or whatever.

Speaker 6 (01:28:41):
It may be.

Speaker 1 (01:28:43):
Something unexpected happened during the burst of inflation that came
on the heels of the pandemic. Poorer Americans experienced a
bit less of it than others.

Speaker 6 (01:28:53):
Oh they didn't.

Speaker 1 (01:28:55):
They didn't. Basically, this column is saying because car prices
went up and wealthier people buy cars, it hit wealthier
people more. Are you kidding me? People? Inflation always hits
hardest when it's the again, the bare necessities of life,

(01:29:19):
the things that we have to survive on every single
Day's that's what hits. It's the grocery bill, it's the
car insurance, it's the home insurance, it's your energy costs.
That's where it hurts, not because a car price went up. Yeah,

(01:29:41):
from time to time you have to get a car,
and during that point and oh yeah, there was supply
chain issues and other issues out there, and car prices
when up.

Speaker 4 (01:29:49):
Come on.

Speaker 1 (01:29:49):
Man, it's a fundamentally they don't understand, they don't understand
how inflation works.

Speaker 6 (01:30:01):
And again they're always trying to talk their way around it.

Speaker 1 (01:30:07):
Inflation. I'm gonna get this skin people. Okay. All of
the spending, whether it be the tax credits, whether it
be the handouts, whether it be the giveaways to it
doesn't make any difference. All of this government spending, okay,
all of it. You take a look at that national
debt thirty five trillion dollars. Okay, it's being paid for.

(01:30:30):
It's being paid for. You pay for all of this
spending with either higher taxes or inflation. That's it. That's
how it's paid for. And the longer the government continues
to haphazardly spend money out of control, it's not gonna
get any better. And you're you're told, okay, you're told

(01:30:53):
by these wizards of smart Okay, you're told by these economists.

Speaker 6 (01:30:57):
Out there that a little bit of inflation is a
good thing. A little bit of a little bit.

Speaker 1 (01:31:03):
Of inflation, It's always a good thing. We want prices
going up? Why, how is it a good thing? How
is it a good thing that my uh my dozen
eggs continues to go up in price? Well, and then
they'll just give you this load of bunk. Oh, what's
the good Go in the opposite direction. That's deflationary, and

(01:31:24):
that's terrible. Deflationary means people aren't gonna be spending money
because they're gonna wait for things to go down in price.
People are gonna hold off on eating certain things. It's
good when the prices go down, there's nothing wrong with that.
Everybody wants food prices to come down. They should come down.

(01:31:45):
They're obscene for cra How is it people, How is
it that I can be on an island, an island
in the Mediterranean. I'm on a Greek island somewhere, and
in this more of a desert island where they're not
doing a lot of farming there outside of goats, and

(01:32:07):
they have to ship the food in from other areas
of Greece where the farms are, have to put it
on a truck, put the truck on a ferry and
bring it there. How is it that their food is
that much less than ours? And people were doing this
to ourselves. And you listen to these fools on TV

(01:32:32):
talk about inflation a little bit is actually a good thing. Oh,
inflation has come down. We whipped inflation, talking about what
a great job the Fed did. Oh give me a break.
How much more are you paying for things today than
you were a couple of years ago? And stop telling
me having prices deflate is bad because it's not well.

(01:32:56):
It means people are gonna hold off. They're not gonna
hold off on every day items. Yeah, yeah, yeah, if
you know. And people do it now. They wait for
Labor day sales on mattresses or television sets because the
price is gonna come down. But come on, people, you
gotta understand we're doing this to ourselves. We vote for

(01:33:19):
this stuff complaining about high advices. Will you know what,
maybe we start electing people that want to balance the budget,
that don't want to continue to spend haphazardly. Watchdog on
Wallstreet dot com, Watchdog on Wallstreet dot com again, Personal
CFO program, our podcast, our newsletter, all sorts of great

(01:33:42):
stuff there at the site Watchdog on wallstreet dot com
or give us a call eight hundred and four seven
to one.

Speaker 6 (01:33:47):
Fifty nine eighty four.

Speaker 3 (01:33:51):
Yourselves.

Speaker 2 (01:34:04):
This is the watchdog on Wall Street.

Speaker 1 (01:34:13):
Like you know it is one of the only watch
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We're here to help everyone out. No velvet rope at
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(01:34:35):
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our families. That's what we do, and we run it's
like we run our business like it's a family office,
except guess what family offices? What you need to have
one hundred million, two hundred million to operate? No, no,
we help everyone out and you can learn how to
navigate financial storms, corrections, volatility, avoiding risk, including stuff that

(01:35:01):
comes out of nowhere. The proverbial black swans discern the
difference between conventional wisdom of the day. Again, all of
the narratives and the garbage that are being shoved down
your throat being sold to you. What are you being sold?
You're gonna learn all about that, and you're going to
actually operate with the reality of the terrain. You know,

(01:35:22):
learn how we have positioned our clients some of history's
most turbulent markets over the past three plus decades. Again,
we talk about it often here on the program. Might
might even next week, might do a whole big financial
preparation bit. Again, it's I know, we repeat a lot
here on the program. Again, been on the air, been

(01:35:43):
on the air for twenty five years. And you know what,
the financial preparation, what we do for our clients, it
hasn't changed. It's timeless. It's timeless. The same things that
we're working thousands of years ago work to day. It's
funny how that works. But anyway, anyway, moving on, I

(01:36:05):
gotta talk about this because.

Speaker 6 (01:36:07):
It was about time. It was about time we started
seeing some letters. That's right, here come the stupid letters.

Speaker 1 (01:36:17):
And again it's still amazing to me that people pay
attention to the stuff. How many stupid letters were around.
Remember all of the all only the brain trusts, all
the intelligence people that signed a letter, signed a letter
signing at the Hunter laptop, this Russia disinformation. They all

(01:36:37):
signed off on that crap and it was all they
were all lying. So we got another one. You know,
we got another letter here, more than two hundred Bush, Bush, McCain,
Romney alums endorse Harris for president and criticize Trump. It's

(01:37:00):
so funny, it really is. And again you go take
a look at this list. Oh go ahead, go ahead,
take a look at the list. See who's on the list. Yeah,
they're all belt wag creatures. Well again, some of the
scariest you know, they get these you know, horror movies
all the time with these The scariest creatures in my
mind are beltway creatures. Career politicians, career bureaucrats that will again,

(01:37:27):
they're all how do I put it again, I don't
want to people say call them hookers or again, I
have more respect for I can't say that about hook
I got more respect for them. These people will say
or do anything to maintain their position of power, to
rise up in the ranks, maybe get a better job

(01:37:48):
or a speaking gig, or a job at a think tank,
not really thinking about anything, or a become a professor
out of school. As long as if they told the line,
they do what they're told. That's who these people are.
They don't build, they don't create. These are not business owners.
They are Beltway creatures. Both sides same thing. You get

(01:38:09):
a phone call. You get a phone call and you're
told what to do.

Speaker 4 (01:38:13):
You do it.

Speaker 1 (01:38:15):
You want to maintain that position, You want to have
that that that belt Way creature. No show job for life,
quick pro quo. And you know, the funny thing is
is that people that do this they want to get
involved in politics. Do you think it's at all about policy?

(01:38:36):
At all about policy? I was thinking about it this
past week. It was at nineteen eighties film Saint Elmo's
Fire and one of the case it took place in Washington, DC.
It was basically the recent graduates from Georgetown and Demi
Moore was in it. And who else it? Rob Lowe

(01:38:57):
or I said Judd Nelson. Judd Nelson played this. He
was working for some politician, Democrat politician, and he got
a job offer, got a job offer with a Republican
politician and it paid more, so he took it. He
took it. His girlfriend, Oh you bought it, and now
you're working for a Republican again. They're you know, kids

(01:39:19):
right at her out of college. They don't care. They
don't care. It's about getting a job in Washington.

Speaker 2 (01:39:29):
D C.

Speaker 1 (01:39:30):
Do you believe these letters? Please? Watchdog on Wallstreet dot com.

Speaker 6 (01:39:37):
Watchdog on Wall Street dot com.

Speaker 1 (01:39:40):
Don't go anywhere. We'll be back.

Speaker 2 (01:39:46):
Chris Markowski is the watchdog of the only man who

(01:40:07):
is taking on the Wall Street establishments. You are listening
to the Watchdog on Wall Street with Chris Markowski.

Speaker 1 (01:40:17):
Ah right, a CDC action Welcome back. Abody is the
watchdog on Wall Street.

Speaker 6 (01:40:23):
Show What Football Next Week?

Speaker 1 (01:40:27):
Football? NFL starts next weekend and start came out this
past week. The NFL. NFL has informed owners and investment
firms that wants to take a percentage. They want to
allow uh private private equity. They want to allow private

(01:40:48):
equity to be able to invest in the NFL. League
has never allowed private equity investment before the NBA, NHL.
They already allow air of teams to be owned by
investment firms. What does this mean then? What does this mean?

(01:41:09):
I'm going to try to explain this to people and
how all of this stuff works. Okay, why why does
the NFL? Why are these these these teams worth so
much money? Okay? First and foremost, Okay, you take a
look at the media landscape today and you know, there's
no more NBC Thursday night Must see TV doesn't work

(01:41:30):
that way, and the only thing that people really tune into.
You take a look at the top shows year over year,
it's it's football. It's football, it really is, and it's
it's because people want to watch it live. People have said,
I'm gonna tape a game. I can't if the game's over,
I'm just gonna check the score. I'm not going to

(01:41:52):
go back and I'm going to watch it. People want
to watch it live, so they can obviously have advertisements.
So again that makes these businesses very solid. But also
so it's just the valuation that they put on these things.
Who determines they let me see these lists. Who determines
what the value is? I don't know. Bankers, man, I mean, well,

(01:42:16):
the Dallas Cowboys are worth this, the New York Yankees
are worth this? Well, how do you figure that? What
is your formula?

Speaker 6 (01:42:22):
There is none?

Speaker 1 (01:42:24):
There is none. Basically, the formula is whatever their bankers
say it's going to be. Now, why is that benefit
people involved? Why has been the owners? And you also
take a look at private equity, Why do you think
they want to get involved with this, Well, if they're
a private equity firm, private equity firm, and they're getting
paid based upon the assets that they have, right and

(01:42:47):
they can put whatever price they want on it, and
if they can't sell it, not moving it. Wow, it's
a neat trick, right, not to mention the fact, not
to mention if you need money, you need money, you think,
I look at the brilliance of Jerry Jones and you
know Dallas Cowboys. He built the stadium, He's got a

(01:43:09):
side practice facility that people go to. Wait, wait, you
think he paid cash for that. No, he's borrowed against that.
I want to Dallas Cowboys, give it him money, lend
me the money. I'll pay it off later. Again, I
got this huge asset I'm borrowing against the Dallas Cowboys.
I mean, come to think of it, you know, you

(01:43:29):
think somebody's NFL franchise, somebody sports franchise are actually more valuable.
Think about a better bet than actually the United States government.
But again, that's why they're getting involved with this. Leena
Kahan again, you got to hand it to her. You know,
she you know, she constantly gets knocked down and she
gets back up and then she sues somebody else she

(01:43:51):
lost again. Yeah, uh, the FTC overstepped its authority by
issuing the UH five hundred and seventy page rule that
prohibited most non compete agreements. When this came out, I
said that there was no way, no way this was
going to stand scrutiny. And listen, I think some non

(01:44:15):
competes are absolutely ridiculous, depending upon the industry that you're in.
But I know if you get a job, you get
a job and your employer says, okay, we're going to
send you to grad school. We're going to spend all
this money training you. You're going to learn all about

(01:44:35):
our business. And then all of a sudden you say
all right, I'm out of here, and you take all
of that and you set up shop next door.

Speaker 6 (01:44:44):
Can you see the problem there?

Speaker 1 (01:44:48):
I get it. I mean non competes and like working
in restaurant or something like that, those are patently absurd,
But in certain industries they're helpful. And again, you know,
you want companies to, you know, feel free that they're
gonna be able to train people and invest in their
staff without them having to say, okay, you know what,

(01:45:09):
I'm out of here.

Speaker 6 (01:45:10):
I'm out of here.

Speaker 1 (01:45:11):
I'm taking all this intellectual property everything, I'm gonna go
somewhere else, and I'm gonna give it to the guy
next door. I'm going to start my own shop again.
It didn't make any sense latest here quickly on. Wow,
the whole office tower situation here in commercial real estate,
it's it's got a long way to go to the downside.

(01:45:33):
I'm listening to some people out there, some bankers out there,
quite frankly, and they're whistling past the graveyard. I think
I might have mentioned this past week. I was blown away.
It doesn't surprise me. Baltimore is a disaster. Imagine this
three hundred and forty five thousand square foot office tower. Okay,

(01:45:57):
you're talking a a skyride. Three hundred and forty five
thousand square foot office tour in Baltimore sold for four
million dollars. Four million dollars. That's twelve dollars a square foot,

(01:46:17):
and I guess what they probably overpaid. Can fighten people
to say these things again, this is what they're doing
right now. They're playing extend and pretend with commercial real estate,
and it's not gonna end. Well, let's just leave it
at that, gotta take a break. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com is our site. Don't go anywhere.

Speaker 2 (01:46:53):
You should believe in math, not magic. You're listening to
the Watchdog on Wall Street with Chris Markowski.

Speaker 1 (01:47:01):
Alrighty, welcome back everybody. It is the Watchdog on Wall
Street Show. So yeah, Mark Zuckerberg, I mentioned this earlier
on in the program. I want to talk about it
a little bit more. He damned social media again. I

(01:47:23):
said this before again. People always got a kick out
of it back when they first started coming out. I
compared social media to the pink slime running underneath New
York City from Ghostbusters too.

Speaker 6 (01:47:35):
That made everybody fight and argue.

Speaker 1 (01:47:37):
I saw what was going to happen, and we knew,
we knew what they were doing, who they were targeting.
You actually had people from Facebook come out to admit it.
But what do we do? We kept we kept pushing on,
kept pushing on. Couldn't couldn't put a stop to this nonsense?
How to keep pushing it and pushing it? And God,
I said, if they were to redo the movie Fight Club,

(01:47:59):
Tyler Durden would be blowing up the social media companies.
It wouldn't be the banks anyway. Mark Zuckerberg said it
was improper, you don't say, Mark, for the Biden administration
to have pressured Facebook to censor content related to the
coronavirus pandemic, and they said, oh the future, we're going

(01:48:19):
to reject any such future efforts. It's funny again, I
don't know why he's doing this now, Maybe because Elon
Musk is just just crushing him as far as basically
views are concerned destroying them. At this point in time,
Musk came out, he actually said, Yeah, these folks over
the European Union asked us to not do this and

(01:48:41):
to hand over this type of information. We told him
to take a long walk off a short bridge, and
he's fighting back against all of this stuff. Zuckerberg also
said he didn't plan to repeat efforts to fund nonprofits
to assist in state election efforts. Yeah. Again, that was

(01:49:01):
all geared to getting out the vote, getting out the
vote and helping Biden and Harris win in twenty twenty. Again,
this is part of Jim Jordan. He wrote that senior
Biden administration officials, including the White House, had repeatedly pressured
our teams for months to censor certain COVID nineteen content,

(01:49:25):
including humor and satire, and expressed a lot of frustration
with our teams when we didn't agree, and he said
he believed the pressure from the administration was wrong, and
I regret that we were not more outspoken about it.
Said that the company had made some choices that with
the benefits of hindsight and new information, we wouldn't make today. No, no, no, no, no,

(01:49:48):
Mark Okay, not the benefit. There's no hindsight involved with
right or wrong. Okay, yeah, hindsight Monday morning quarterback. Ah Man,
you know I shouldn't have made that pass. We should
have ran the ball there instead. Hindsight and new information. No, okay.

(01:50:09):
It can't have it both ways. You're either for free
speech or you're against free speech. Hindsight and new information
sults collective intelligence. Anyway, you gotta take Watchdog on Wallstreet
dot com. Watchdog on Wall Street dot com, don't go anywhere.

Speaker 5 (01:50:29):
Back you.

Speaker 2 (01:50:46):
You're listening to the Watchdog on Wall Street bringing America

(01:51:08):
financial freedom, one listener at a time. You're listening to
the Watchdog on Wall Street with Chris Markowski.

Speaker 6 (01:51:17):
Alady, welcome back for your buddy, I uh, we watched
it the DNC.

Speaker 1 (01:51:26):
Of course you had Randy Weingarten from the Teachers Union
ranton and raven and screaming, and in my if I've
said this before, one of the most dangerous people out there. Again.
You take a look here in this country. Last week
we talked about I think we touched on Chicago and
the performance at the schools in Chicago, and you see

(01:51:47):
it all over the country and just how poorly we're doing,
especially with the rest of the globe. And then how
much more we outspend the rest of the globe. Right,
you take a look at the same thing with healthcare.
Nobody comes close the amount of money we spent non
healthcare here in the United States, and we are an
unhealthy nation. This is some statistics in regards to education

(01:52:13):
and growth in various different staffing in education, going from
two thousand until today, we've seen over the past twenty
four years, almost twenty five years, a five percent increase
in students, five percent more students in public schools today

(01:52:33):
than there were in two thousand. We have seen a
increase in school teachers over that period of time ten percent,
ten percent more school teachers since two thousand to two
thousand and twenty four. This is going to blow you away.

(01:52:53):
Principles and assistants thirty nine percent more principles and assistants
since two thousand. Now again, I'm going back in time
to when I was in high school in the eighties
and my high school we had thirteen one hundred student

(01:53:14):
fourteen hundred students gilgal And High School Upstate New York.
We had the main principal and they had one, I
think an assistant. It wasn't even assistant principal. It was
like a yeah, it was like a secondary principal. Two.
Why they're thirty five percent increase in students, but a

(01:53:36):
thirty nine percent increase in principles and principal assistants. Oh,
but it gets worse. Since two thousand, there is a
ninety five percent increase in principles administrative staff what now again,

(01:53:57):
again we're going back to two thousand. I got a
question here, I mean, you guys don't use computers. I mean,
one would think that we need a lot more staffing
and whatnot. Back in the day, Remember when we had
those the way that the old dot matrix printers and

(01:54:17):
you know all the other things that they had to do.
I mean, why would you have a ninety five percent
increase in principles administrative staff. Basically, our educational system in
our country is one big jobs works program. It's not
about educating people. It's a jobs program. This proves it.

(01:54:41):
And I wrote a story about this years I was
it was talking about government programs, and it was a
Milton Friedman story. Milton Freeman he visited China in the
nineteen sixties. This is China in the nineteen sixties, and
he's watching this big public works project taking and all

(01:55:01):
these people out there working, and he asked his little
government minder there from China and says, why why aren't
you guys using bulldozers and you know, equipment to make
this job go that much smoother, that much quicker. And
his government minder said, well, you need to understand this
is a jobs project. Then Milton Friedman paused. He said, well,

(01:55:25):
I got an idea. Why don't you take the shovels
away then give him spoons? And how could you deny
this five percent increase in students since two thousand, ten
percent in teachers, thirty nine percent in principles, and ninety
five percent in administrators.

Speaker 6 (01:55:48):
The more money we spend, the worst it gets. And
it's never enough. Randy, Why I got a yell and scream?

Speaker 1 (01:55:53):
How many more money got me spending more money? Yep,
so we continue to get god awful outcomes. Okay I
had to check this story and again this is one
that This is not the Babylon bee. Okay, this is
not the bee. This is this is an actual thing,

(01:56:14):
a recent Biden Harris administration. Department of Energy. Again, I
gotta love the Department of Energy. Why do we have
a Department of manager? I mean, why did they? Did
they create any energy? Who's oh yeah, Jennifer Grant Holmes
in charge it? Department of Energy? High level higher is

(01:56:34):
publishing articles, formal articles. This is where tax dollars at work,
calling for, wait for it, the queering of nuclear weapons.
Yeah yeah, yeah, yeah yeah, word for word, actual title
on one of the papers. Your tax dollar is paying
a Department of Energy worker to put out an article

(01:56:58):
calling for the queering of nuclear weapons. What are you
gonna do. You're gonna paint the missiles in rainbow, You're
gonna put a boa on it or something like that. Yes,
there were seven Sina she Snia Nair, Special Assistant to
the National Nuclear Security Administration National Nuclear Security. I even

(01:57:23):
heard that acronym before several of her papers focusing on
the relationship between queerness and nuclear policy as substantive issues.
Yeah yeah, yeah yeah. She claims that uh in discrimination
against queer people can undermine nuclear security and increase nuclear risk.

(01:57:50):
What Equity inclusion for queer peoples not just a box
ticking exercise and ethics and social justice. It is also
essential for creating effective nuclear policy. This is real, Okay,
these are This is your your tax dollars at work.

Speaker 6 (01:58:10):
God bless everybody.

Speaker 1 (01:58:11):

Speaker 6 (01:58:13):
Watchdog on wallstreet dot com.

Speaker 1 (01:58:15):
We'll see it, say anything at all.

Speaker 2 (01:58:19):
Spot Chris Markowski is the watchdog on Wall Street

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Watchdog on Wall Street: Podcast for Weekend of August 31 - September 1 2024

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}Watchdog on Wall Street: Podcast for Weekend of August 31 - September 1 2024