Watchdog on Wall Street: Podcast for Weekend of September 21 - September 22 2024 - Watchdog on Wall Street with Chris Markowski

Episode Transcript
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Speaker 1 (00:07):
Well, no one altered. Investment banker, consumer advocate, analyst, trainer.
Chris Markowski is the watchdog the Wall Street. Do you
want to answer exposing the lies and myths that the
big brokerage firms, the mainstream press, and the government are
pushing to keep Americans away from financial freedom.

Speaker 2 (00:28):
You can't handle the true.

Speaker 1 (00:29):
Truth bringing America the truth about what really happens in
the financial world.

Speaker 3 (00:35):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.

Speaker 1 (00:39):
This is the Watchdog Wall Streets.

Speaker 4 (00:45):
Oh, welcome, welcome all, Welcome to Watchdog on Wall Streets.
Don't you enjoy all the business news this week? All
the predictions We got your prediction, predictions on the Fed,
predictions on the market. What's going to happen next? You

(01:08):
know what, kids, it's about time. I'm gonna have to
break out the old crystal ball dust this bad boy off.
You know, the crystal ball made its first appearance, not
on the radio show. It was actually before we had
this program, was back in nineteen ninety nine. I wrote
about my crystal ball. Anyway, So this week you've got

(01:32):
JP Morgan coming out and saying, don't expect much from
the stocks over the next decade. Don't expect much. You
actually had Jamie Diamond actually come out as well and
say that with the United States faces a fate worse
worse than recession. Stagflation, the stagflation monster. We'll talk about

(01:52):
that too and what that means. But you know, I'm
gonna break out the crystal ball. Why not, you know
my crystal ball here. We're gonna make some predictions if
you will. You know what we got, you know, the
interest rate conversation this past week. I'm telling you it's

(02:13):
gonna be in about faced. Interest rates are going up, up, up, yep,
going much much higher. I'm predicting that, you know what,
I'm measured by the prime rate. This is gonna blow
a lot of people out of the water. Wait for it,
twenty three percent. Twenty three percent. Uh. Unemployment. Unemployment's going

(02:40):
way up thirteen percent, kiddos, that's where it's going. You know,
we're gonna start seeing a lot more failures in business,
More banks are going to fail. Terrorism's gonna rear. It's
ugly head. I'm you know, it's not not good. Market's
going to have a major, major correction and We're going

(03:03):
to continue to see attempts at politicians' lives. Now, Okay,
I just gave you what my crystal ball. My crystal
ball's great, fantastic. It's my one hundred percent accurate all
the time. I kid you not, never been wrong, never
been wrong. How many people want to dump all the
money they have in the market right now? Anyone bueller, bueler,

(03:26):
anybody out there? Well, well, yeah, I'm here to tell
you my crystal ball. It doesn't tell the future. It
doesn't tell the future. It tells the past. The events
that we just talked about, These terrible events we just
talked about, they occurred between nineteen seventy nine and nineteen

(03:49):
eighty nine. During that period of time, the Dow went
from eight thirty eight to twenty seven fifty eighteen percent
a year. You know the best ways to mitigate risk
in your portfolio. One of the best ways to mitigate
risk is to put time on your side. Don't try

(04:14):
to time the market. Can I just let me worry
about Let me worry about interest rates, let me worry
about world events, Let me worry about all of the noise.
You focus on what you do best. Your dollar cost
average you put money away and you own quality. Hey,

(04:39):
I saw a video this past week was sent over
to me actually interview a Warren Buffett. Interview a Warren Buffett.
I think it was a late nineteen eighties if I'm
not mistaken, and I could be wrong, I want to
get the exact year. But people who's being interviewed was
talking about the efficient market theory, Bishop market theory and

(05:01):
all you teach that at business school. And actually Gordon Gecko,
Gordon Gecko in the movie Wall Street, had a great
line about that. He was making fun of fund managers.
Memby's telling Bud Fox May the way fund managers can't
meet the S and P. Five hundred because they're sheep,
and sheep get slaughtered. All you need to do, all

(05:26):
you need to do is to focus on being a
great company buyer. That's it. That's it. You focus on
being a great company buyer. You build ownership in great
businesses with great ideas, businesses that have niche advantages, businesses

(05:48):
that have great management. Wow, you're gonna do fine. But
one thing that we do not do here is try
to time the market. It is a fool's Errand if
there's a solid business out there that we feel is
valued properly. And let me be honest with you. Okay,

(06:11):
I don't know where the bottom is. I don't know
where the bottom is. I don't know where the top is.
I look at the valuation. That's it. I'm gonna be buying.
No matter what the market is doing. Throughout the great recession,
throughout COVID, we were buying. We are not stock I'm

(06:32):
not a stockpicker, nor am I a market timer. We
are great business owners. This is simple stuff, people, it
really is. You're gonna get all these wizard of Smarten
out there, you know they're gonna come on. These portfolio
managers are algorithms, the latest greatest thing out there. Talked
about that last week here on the program. How well

(06:53):
do they do? Honestly, how well do they do? Oh
they may, they may work for a period of time,
but five, ten, fifteen, twenty years, no way, no wow.
And listen, I'm gonna be honest with you. There's gonna
be times we're things, for lack of a better word,

(07:18):
are gonna suck. You're gonna you're gonna look at You're
gonna be ah Man, markets suck. News is terrible out there,
woe is me. All sorts of issues out there. You
know how many of these things I work through in
my entire life, my career. Here the market selloffs, the panics,

(07:39):
the crashes. I can't even remember them all. I can't.
I go back sometimes I go back. Sometimes I read
some columns that I wrote years ago, or whatever it
may be. I'm doing a search and I'm doing some
homework on my computer, and I'm trying to go back
to something I said maybe ten to fifteen years ago
in my man I forgot about. I forgot about that

(08:03):
end of the world event. Each and every market, economic panic,
whatever it may be, is distinctly different, distinctly different. No,
no them are the same. The media tries to compare
them to one another, and they always give you all

(08:24):
this chart hasn't shown this in this period of time,
and when this happened, then this happened. It doesn't work
that way. Kind of reminds me of the people that
are predicting hurricanes. Right, Oh, lord Mercer, how many hurricanes
were supposed to get hit with this year, unprecedented amount.
Oh my god, the water temperatures through the roof. We
were going to get wrecked with hurricanes this year. How'd

(08:46):
that work out for you? Every single event is going
to be presented as a near death, cataclysmic event, unprecedented
in every way, shape, matter forming. You know, it's gonna
take the whole world down. Yeah. Yeah, I mentioned the
word before. They suck. Okay, they're painful if you have

(09:10):
a crappy portfolio. Okay, if you have a crappy portfolio,
it's going to really really suck because guess what, things
are not coming back. More often than not, they're not.
This is why you have to own quality. You know,
you don't want to go playing a game as well

(09:33):
where you're trying to say I should have done this
and I should have done that. It's an exercise in futility.
It's going to lead to short term bad decisions that's
going to counter the actual process where you're trying to
build for the future, being able to take advantage of opportunities.

(09:54):
Stupid emotion driven decisions blown up more portfolios that I've
ever seen. It happens all the time. So no matter
what is going on, I think markets are down, Oh
there's so you know what, you deal with it. You
embrace it. You don't have anything to worry about when

(10:19):
markets again, they're gonna happen, They're gonna reverse for periods
of time. So what your portfolios down at this point
in time, what is it there for? What is it different?
The wolve's not ending your own quality, Your companies are
gonna bounce back. You know. Again, we've we've talked about

(10:46):
I've talked about time frames and understanding time frames and
how you've got to set you know, obviously time frames
with certain pockets of money that you have, five, ten, twenty,
thirty years down the road. You gotta stop obsessing. But
I've explained this before, conventional wisdom. The people on TV,

(11:07):
they want you obsessing. They want you to search, you know,
they're that whole thing, searching for alpha, always searching to
find that perfect time to buy, the perfect stock to buy.
They don't don't do things that way. I don't have
the bloody faintest idea. I mean, I gotta see you, okay,
I don't have the faintest idea. Oh sure, I can

(11:29):
predict like everybody else, what's gonna happen when the market
opens up on Monday. I don't not good at that,
not good at that. But I am very very good
and figuring out whether or not we're getting we're getting
enough for our money. Again, the business news, the echo

(11:53):
chamber out there. You know you can't follow this, Okay,
you're not trading casino chips in when you sell a
company from your portfolio, you're selling to somebody else. And
this is a concept that still to this day, I
am amazed that people really can't get their arms around.
We've had this, and we've talked about this in returns,
in regards to the taxes that they want to have

(12:15):
unrealized gains. For crying out loud, someone sos portfolio was
worth this. You know, someone sows portfolio is worth what
somebody is willing to pay for it. For every seller,
there needs to be a buyer. And the interesting thing
is is when man, oh man, you know the only
market out there in the entire world, only market in

(12:37):
the entire world that when prices come down, prices come down,
people run, they get scared. And I always go back
to that line by JP Morgan in bear markets stocks
returned to their rightful owners, and man, that was an
arrogant statement. But he's not wrong. Well, he said when
he said rightful owners, he's basically saying, you know, smart

(13:00):
people like me, smart people like me to take advantage
of every situation. Last week on the program, we talked
about having strength through tumult, the anti fragile concept Nicholas
Talib's concept, where again, you want your portfolio to not

(13:22):
just handle shocks, but come out better on the other side.
You want to start doing things the right way. You
want to get off the hamster. Will you come to
the right place, time to take that next step, Time
to take that next step. And I'm inviting each and
every one of you, And again I gotta make this

(13:43):
perfectly clear. Again, I do it often here on the program.
We are not one of those family offices that will
laugh at you or make fun of you because you
don't have a five to ten dollar portfolio. That's not us,
that's not us. I we help everyone. Do you understand

(14:06):
We're not like all of those other guys are sure
we just want to just focure on the big ticket retail.
We're here to help everyone. Get to our website, Watchdog
on Wallstreet dot com, Watchdog on wallstreet dot com, sign
up for our personal c FO program, account repair, kiss

(14:26):
my Podcast, newsletter, Take Advantage Watchdog on Wallstreet dot com
or give us a call eight hundred four seven one
fifty nine eighty four.

Speaker 1 (14:54):
This is the Watchdog on Wall Street.

Speaker 4 (15:02):
Right, so interesting, But Federal Reserve I to talk about,
you know, rates or anything like that. I want to
talk about the fact that you've got you've got about
four hundred economists, four hundred economists working at the FED,
give or take on it, ten fifty hundred. I don't

(15:22):
know at least four hundred over there, and they're perpetually
wrong time and time again. You know. The funny thing
is is that the mainstream meeting is, oh my god,
applauding them. Look at they've helped to get inflation down.
We still have inflation, folks. Okay, we still have inflation.

(15:44):
It is what it is. They didn't help to get
crud down. Be quite honest with you, they really hadn't that.
That's a bit of a joke. Where they got it
wrong was how did they not see it coming? The
basic concept, I mean, inflation is caused by printing money, printing,

(16:05):
in printing and printing. I mean was cracking jokes about
this maybe fifteen years ago here on the program where
I suggested the Federal Reserve come up with some sort
of template template on Microsoft Office where people could print
their own money off the computer. Let's just fly over
the country and drop cash. What did you think was
going to happen? What were we told? And Fleishan is

(16:28):
transitory and it was just absurd, And we told you
it was absurd as a fed learned anything at all.
Maybe nice if they came out sometime and said, well,
this is why we got it wrong. I know, we've
got our models. We've got our models, We've got our models.

(16:49):
Any mean nice, Maybe if they got rid of their
models and maybe they just actually went out into the
real world to see what's actually going on and how
people are actually living. How often here on the program
we talked about each and every one of us could
be your own do it yourself economist. You can see
for yourself what's going on. You don't need these people,

(17:13):
you really don't. But anyway, I want to touch touch
on this as well. Actually it's little econo. We'll do
a little basic economics. Why won't we? Okay, I've become
a bit of a what I like to call a
meme buster. Meme buster, Yes, and that goes for the

(17:35):
meme buster memes have become popular. We've made fun of
them here on the program. Some of them are kind
of interesting and clever, but more often than not, they've
got about the wisdom of a bumper sticker, you know that,
you know, like the coexists, bumper sticker written in religious symbols,
nonsense like that, And people that are not very bright,

(17:55):
they get a little bit of information, you're like, oh,
what political I'll put that together and I'll make myself
a mean and I'll post it on social media and
people see how clever I am. Yeah, you're making a
fool out of yourself more often than not. So there
was one this past week. So one of my listeners
sent this, uh to me, is you know, asking me

(18:18):
a favor? Is Chris, were you know, I don't. I
don't understand that this doesn't make any sense. Could you
refute this? And I had to do with oil production
in the United States and the fact that oil production
in the United States is all time highs under Joe Biden.
It was a meme. Was like, look at it, but
all time hives.

Speaker 2 (18:34):
Thank you Joe Biden.

Speaker 4 (18:37):
And I'm saying to myself again, people don't understand econ
one oh one, and I don't. I don't think they
want to. I think the people, many people are just
more concerned about their team winning no matter what that
they don't actually want to get to any sort of
reality or facts or how things actually work. Well, Yeah,

(19:01):
oil productions at all time highs right now. However, however,
oil production under Joe Biden is up ten percent, up
ten percent from when he took office. Oil production under
Donald Trump was up thirty percent plus when he was president.

(19:26):
Now there's this thing. It's it's called maybe you've heard
of it. It's called supply and demand. Now, if the
Biden administration is not allowing not allowing us to go
out and develop energy, to go out and drill and
move oil from one place to another, natural gas and
do those things, and demand continues to rise and supply

(19:50):
doesn't keep up, guess what, kiddos, the price is going up.
It's just that simple. It's how the world works. So
when you see these people out there under Joe buying
oils being produced at an all time high, what difference

(20:11):
does it make. We're not doing enough of it. That's
why you're paying more at the pump. That's why you're
paying more for heating oil. That's why you're paying more
for electricity. Okay, econ one oh one. Stuff that the
kids at the FED don't really seem to understand. Got
to take a break. Watchdog on Wallstreet dot com. Watchdog
on Wallstreet dot Com. Don't go anywhere, but if you

(20:33):
do our personal CFO program, sign up for it, we'll
be back.

Speaker 1 (20:39):
You're listening after the Watchdog on Wall Street, the only

(20:59):
man who was taking on the Wall Street establishment. You're
listening to The Watchdog and Wall Street with Chris Markowski.

Speaker 4 (21:08):
Welco about everybody? It is the one, the only the
Watchdog on Wall Street show. Yeah, it's interesting. It's interesting
quite frankly. You know, people always talk about how complicated
life is, how difficult life is. It's not. That's sorry,
it's just it's not. Life is not that complicated. It

(21:30):
really isn't, was it, Albert h No, not the books.
I forget the name of the author who said it,
talking about you want to live a half happy life.
People who live happy lives are ones that don't deviate
from their moral compass. Arthur Brooks, Oh my god, there

(21:53):
I go. Arthur Brooks. You don't deviate from your moral compass.
You deviate from your moral compass, you start doing the
wrong thing, you're you're gonna be an on the happy person.
People don't have any sort of moral compass. When I
have these sociopaths and they're they're scary. We talk about
every week care in the program. Everything in life that
has meaning, value and worth involves work, time and effort.

(22:20):
Another thing as well, Keys to success. Stuff is simple.
I don't even understand. You go to the aisles of
these bookstores and get these self help books that are
hundreds of pages long. I could do one and maybe twenty.
Quite frankly, it's not that hard, not that hard on
the keys to success. And I've mentioned this before. I

(22:41):
like dealing with people. I like dealing with adults, people
grown up, people who are grown up. People grown up
are people that take ownership, people who don't place blame.
It's it's really easy out there because we live in
a world right now. We live in a world right now. Now,
we're nothing. It's okay, nothing is your fault once you learn,

(23:04):
once you learn to take ownership of everything that happens
in your life, good and bad, good and bad. Guess
what you have control. You have control because guess what,
you can solve the problem. If it's somebody else's fault,
somebody else is you're a victim. How can you go

(23:25):
about solving the problem. There was a line in the
movie Rising the Sun. It was like Sean Connery saying,
it's you know, uh, you know, fix the problem rather
than fix the blame. These things work people, you know,
it's fascinating. I'm a big proponent of studying history. Talk

(23:48):
about these things here on the program. I wish, you know,
I wish more youngsters out there would put the damn
phone down, put the damn Instagram down, put the damn
TikTok down, whatever they're doing, and actually use their phone
for something positive and learning. We live in this wonderful,
wonderful so many things out there to learn all the time,
and we all walk around like gods with these things

(24:09):
in our pocket. The ability to look things up, the
ability to take a class at MIT at any point
in time. And what do people use it for? Selfies?
Taking pictures of their food doesn't work. People, Okay, if
you want to be successful in life, the rules that
we present here on the show when it comes to

(24:30):
financial preparation. I didn't come up with this stuff. I didn't. Again,
this stuff is in the bible of things that we
talk about here on the program, asset allocation, a myriad
of things that have been around forever. It doesn't change.
They work every single time. You know, I am as

(24:58):
a word I brought up here on the program. And
this word it's actually it's a Greek word, but it's
it's an all encompassing concept. It's called flotimo and it's
a concept that in essence gives meaning to life that
stretches well beyond ourselves. It's a it's a deep seated

(25:24):
awareness that motivates the good that a person does. A
pilotimo's person is one who conceives and enacts eagerly those
things that are good. Personal sacrifice, personal sacrifice. We all
have put everything, putting itselfs in these stupid bubbles with technology,

(25:47):
and it's all about me, me, me self self. So no, no, no, no,
no no no. People in fear out there of opening
their mouths. Oh, I don't want to be I don't
want to be thought of as being politically incorrect. I
don't want to be cancer. What do we say every
single week? Here in the program. How many times do
I say it a week on my podcast? Build, Create, Protect,

(26:07):
and teach. And the funny thing is this, It's Greek
word for timo. It's same thing, same thing as what
Jesus Christ was teaching sermon on the Mountain. It's amazing
how various different things are connected if you actually think
about them and put them into work. Stop looking for shortcuts.

(26:33):
Stop looking for shortcuts again. You don't have to. You
don't have to. Life's not that complicated. Life's not that complicated.
You just abide by simple rules. Got to take a break.
Watchdog on Wallstreet dot com. Watchdog on Wall Street dot com.
I get big, you know. Sometimes I like to wax

(26:53):
a little philosophical here on the program. Have a little
fun with that. Don't go anywhere, but if you do, again,
take advantag of our personal CFO program. Please please sign up, subscribe.
It helps people, it does, It does help me out.
We subscribe to my podcast. It gets our word out
to more people. How the algorithms work. I don't like it.

(27:13):
It is what it is. Subscribe to our podcast, sign
up for it at our website Watchdog on Wallstreet dot com,
or give us a call eight hundred four seven one
fifty nine eighty four and the lead.

Speaker 1 (27:39):
You should believe in math not magic. You're listening to
The Watchdog on Wall Street with Chris Markowski.

Speaker 4 (27:49):
I don't look back, everybody. I forgot to remember. I
should remind it John we who played on the Way Out.
It would have been better. But anyway, Yeah, in town
Well and acdc's Highway to hell I just got that
riff in my head right now? What the hell is
Markowski talking about?

Speaker 1 (28:11):
Willp?

Speaker 4 (28:11):
My longtime listeners are aware of the fact that I'm
a big fan, a big fan of Friedrich Kayak and
the Road to serf them, the Road to Serve them,
and years ago we coined it. We changed it from
the Road to Serve Them to acdc's high Way to Hell.

Speaker 3 (28:31):
Well.

Speaker 4 (28:31):
This past week, this past week, congratulations everybody. The Binding
administration has decided to take more more of your money
and give it to a private company. That's right, that's right.
They have decided decided to take more of your money,
other three billion dollars and hand it over to Intel.

(28:55):
How did you get stock in the company. Nope, nope, nope,
youre getting a d from it?

Speaker 1 (29:01):
No, no, no, no.

Speaker 4 (29:02):
No, they're deciding what to do. This this started and
really got put on steroids during the Great Recession. Let's
just be honest. Okay, let's just be honest. All of
the bailouts, all the nonsense that took place at that
point in time. Quite frankly, no wine, no good. And

(29:26):
what do we have. What do we have in our
banking sector here in the United States? We have too
big to fail, too big to fail. In essence, these
are companies that, again they tell they tell you how
great it is all. We're doing stress tests on banks,
and we're making sure of this, and we're making sure
of that whatever it may be, they're not going anywhere,

(29:48):
no matter what they do, no matter what the fines
that they pay, no matter how they strew over the
American people, They're not going anywhere. They are too big
to that sound like capitalism too. It is the antithesis
of capitalism. It is the exact opposite. Gordon Gecko, I

(30:12):
quote him a couple of times today on the show.
Remember telled our paper speech. You either get it right
or you get eliminated. That's how it is supposed to work.
Not banking. I mean, we got too big defail. What
else would we do at that point in time. W yeah,

(30:34):
w started bailing out the automakers, right son, bailing out
the on them. Oh yeah, we're gonna about the automakers.
And then Barack Obama came in and he said he's
gonna bail out the automakers who gave them even more money.
Remember he actually even broke rules like rules have been
around for a long time. He basically told the creditors,

(30:54):
the bond holders, to innocence, take a long walk off
a short pier. It's not supposed to work this way.
We're going to talk a little bit more about this
and where we're going, this highway to hell. But you
know what, I'm gonna let a c DC take it
over here. Watchdog on Wallstreet dot Com. We'll be back.

Speaker 1 (31:28):
Bringing America. Chris Markowski is the Watchdog on Wall Streets.
Were taking Wall Streets liars, crooks and cheets out behind

(31:54):
the woodshed. You're listening to the Watchdog on Wall Street.

Speaker 4 (31:59):
That's Kidos. Welcome back to the one of the only
Watchdog on Wall Street show. So yeah, eighty years eighty
years ago, Road to Serfdom was written. Frederick Hayak wrote it,
and I guess it was in a phenomenal piece this
past week written by Rainier Zimon, who's got a book

(32:23):
out as author of Hitler's National Socialism. Now hyak again
in you know they again wrote the book in nineteen
forty four. But in the nineteen forties nineteen forties, state
interventionism was on the rise in Europe and in the

(32:43):
United States, very much like today. Right. Oh, now we
got this new belief out there again. You hear it
all the time. Yes, we need more, we need more
control out of Washington. Yeah, right, aggressive government intervention in
the economy. They can fix it, right, the builder, we

(33:08):
can fix it. No, no, no, politicians, we can fix
the economy. We can tinker with it. We can do
all these things, right, all sorts of regulations. There was
a misconception again nineteen forties among intellectuals at the time
that national socialism was a form of capitalism. It's not,

(33:29):
it's not anyway, there was all the intelligentsia at the time.
Socialist intelligencia at the time thought that actually Nazism Nazism.
It was a reaction to classical socialist trends. Socialists back
in the nineteen forties avoided describing Hitler's movement and system

(33:52):
as national socialism. People today, you had to ask most
people what Nazi stands for. They don't. They don't understand
that it's a socialist party, fascist. No, it's national socialism.
And they were denying it back in the day, just
like they deny it today. The affinity between socialism and Nazism.

(34:16):
The funny thing is, and Hayak didn't know it at
the time, is that Hitler he was growing very, very
fond of the Soviet Union system. In nineteen forty two,
Hitler defended the Soviet planned economy to his inner circle,
and I quote, one has to have unqualified respect for

(34:38):
Stalin in his way. The guy is quite a genius,
and his economic planning is also encompassing that it is
only exceeded by our four year plan. I have no
doubts whatsoever that there have been no unemployed in Soviet
Union as opposed to capitalist countries like the United States.

(35:00):
This is Adolf Hitler. He's Adolf Hitler. Key sounds like
certain people that are actually in Congress today. Quite frankly,
in nineteen forty one, nineteen forty one, Hitler said a
sensible employment of the powers of a nation can only

(35:23):
be achieved with a planned economy from above. And as
far as the planning of the economy is concerned, we
are still very much at the beginning. And I imagine
it'll be something wonderfully nice to build up an encompassing
German and European economic order. Holy crap, Hitler would be all.

(35:44):
You know, he's got to wear disguise and maybe, you know,
shave his mustache, but he would be a star at Davos.
Oh my god, Oh my god, it's genius. Yes, yes,
the World Economic Forum Hayek in nineteen seventy one said

(36:04):
that his book The Road Deserved Him was his book
was focused was classical socialism, which aimed to nationalize the
means of production. But national socialism and economic terms is
a precursor of modern socialists. Because that's what we have today,
modern socialism. Because again that's who irat kids, that's the

(36:28):
United States today. We are not capitalists. Yeah, we are
in small towns in many communities, but on the grander scalpe, no,
we are a modern socialist society. The government's not looking
to take over companies. Now, you gotta keep the facade
up that you've got private property rights, but they constantly

(36:50):
erode that on a regular basis. It's just a mere formality.
Entrepreneurs are subject to what date control and direction. Again,
we'll go back to Adolf nineteen thirty seven. Hitler described
this philosophy. I tell German industry, for example, you have

(37:13):
to produce such and such. Now, I then return to
this in the four year plan. If German industry were
to answer me, we are not able to, then I
would say to it. Fine, then I will take that
over myself, but it must be done. But if industry
tells me we will do that, then I am very

(37:34):
glad that I do not need to take that on.
What's the difference between what Adolf was saying here and
what we do with the energy industry here in the
United States, or the auto industry for that matter, forcing
them to make products that people do not want to buy.

(37:57):
You know about twenty five years ago the show five
years later, As you go older, you grow wiser, I
talked about. I talked about something called the watchdog on
Wall Street, access of evil. Big business politicians in the
media work in hand in hand to serve their own needs,

(38:18):
and it's grown. They've gotten more and more powerful. I
have lamented the fact that we have this thing called
regulatory capture, where politicians will cozy up to big businesses,
they'll write regulations to protect their favored sons in industry.
That's not capitalism, that's modern socialism, kids, and that's what

(38:43):
we have in our country today. How often have I
told you, beware of this nonsense with public private partnerships
and all of this nonsense. The free market will save us.
We just got back to it. Got to take a break.
Watchdog on Wallstreet dot com, Watchdog on wallstreet dot com again,

(39:05):
become a part of the Watchdog on Wall Street family
personal CFO program, you name it, Watchdog on Wallstreet dot com.
We'll be back.

Speaker 1 (39:18):
You're listening to the Watchdog on Wall Street. Well, no
one author, investment banker, consumer advocate, analyst, trader Chris Markowski

(39:42):
is the watchdog on Wall Street.

Speaker 2 (39:44):
Do you want answer?

Speaker 1 (39:46):
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 2 (39:56):
You can't handle the true.

Speaker 1 (39:57):
Roof bringing America the truth. It's about what really happens
in the financial world.

Speaker 3 (40:03):

Speaker 1 (40:07):
This is the watchdog. Well st.

Speaker 4 (40:13):
Yes it is. Wait wait you guys, guys hear something.
You guys hear something? Wait wait here? What you know
what that sound is?

Speaker 1 (40:29):
Right?

Speaker 4 (40:30):
You know what it sound is. Oh yeah, that that's
a toilet. And we know what that toilet's doing, flushing
our money right down right down the green. Yeah. I
want you to do you do me a favorite this week.

(40:50):
Favor if you are someone that happens to get a
pasde up, someone gets paced up. And entrepreneurs, small business owners,
they know when they got to file their taxes. I
want you to take a look at your federal income
taxes on your pastub and I want you to recognize,
want you to recognize that more than half, more than

(41:15):
half of that money is going to interest payments on
the national debt. That's right, half of all federal income
taxes are going just.

Speaker 2 (41:27):
To interest on the debt.

Speaker 4 (41:33):
How in the world you tell me how in God's
creation that is sustainable? Could you imagine if half of
your income was just going to interest payments? That's right,
half half of the money that you send Washington d

(41:53):
C in federal income taxes is being spent on interest.
The budget deficit for August was ninety billion dollars worse
than I thought. It was ninety billion dollars worse. Okay,

(42:16):
fifty five cents of every dollar, every dollar, those fearless
leaders in Washington, DC. And it doesn't matter, people, this
is the problem.

Speaker 2 (42:29):
I'm a man, Team Elephant, emn team Donkey.

Speaker 4 (42:32):
It's all the same. It's all the same. I think
of Michael Corleoni and Godfather too. When he turns the well,
he doesn't turn it. Senator Geary turns that little cannon
on his desk facing him. Now, Michael tells him they're
part of the same hipocrisy. Yeah, both parties. Fifty five

(42:53):
cents out of every dollar the federal government spent in
August was borrowed. Any candidate talking about either candidate, any
candidates talking about this at all? Oh yeah, you get
analysis of various different plans. You get the Kamala Harris plan,

(43:14):
and you get the Trump plan. Do either of them,
in either of their plans talk about reducing spending in
any way, shape, matter of form. I know Trump has
mentioned cutting some agencies here and there, and that's all
well and good. There's been the conversation about bringing Elon
Musk in and trying to make the government efficient. But

(43:36):
you do understand, people, what you're doing to the future,
what you're doing to our kids and our grandkids. You're
stealing from them, is what you're doing. You're putting the
debt on their backs. Actually had this sent over to
me from a listener this past week. It's interesting about

(44:00):
in regards to adult milestones, and it was basically the
share of thirty year old's who back in Back in
nineteen eighty three, more than eighty percent, more than eighty
percent of thirty year olds lived on their own. Now
it's about sixty two percent. Thirty year olds back in

(44:23):
nineteen eighty three, more than almost eighty percent. We're married.
Now it's less than fifty percent, almost sixty percent nineteen
eighty three live with a child. It's now almost down
to thirty percent. It's fifty percent thirty year olds owned
a home. Now it's about thirty two percent. Are we

(44:49):
heading in the right direction? Huh? Now, again, these politicians,
they can talk to their blue in the face about
all the magic they can do and Kamala Harris a
funny saying she gets any economic question at all, any
economic question all. Her answer is I grew up in
a middle class family. I mean, it's more ronic, it

(45:11):
really is. It's like that is her dog. Ain't the
homework excuse for crying out loud? And then Trump, on
the other hand, he, you know, got tax gimmick scalore
quite frankly, one gimmick after another. I'm being honest here, people,
and listen. Okay, I get it, Okay, I love tax cuts.

(45:32):
I do because you know what I understand. I understand
that tax cuts and putting money back into productive people's
hands is much better. People are gonna do much much
better with their money than the government is going to do.
But this past week, past week, I'm being honest here,
Trump comes up. He's got a tax gimmick here. No

(45:55):
no tax zone overtime pay. So you're not going into
tax over time. Okay, all right, fine, good idea. But
you're missing part of the equation. You're missing part of
the equation. You want to cut overtime pay. Let's say
that costs. I'm gonna use the word costs, wrong word

(46:16):
to use. Let's say that that reduces government revenue by
five billion dollars over ten years. What I'd like to see,
quite frankly, is I'd like to see someone who's running
for office that said, Hey, we are gonna cut this.
We're gonna help out the middle cland we're gonna help
out people are working hard trying to build things up.
We're gonna cut your taxes on overtime. And that's that's

(46:40):
the Congressional Budget officeys it will be about ten five
billion dollars over ten years. So what we're gonna do
is we're gonna cut spending by ten billion. We're gonna
double it. We are gonna find it. We're gonna go
line on them by line on them. We are gonna
find ten billion, double double what we're gonna give you
in tax relief. We are gonna cut from the budget

(47:01):
because you know what, we do not want to mortgage
the future here in the United States. And then I
was blown away by the way. I started doing my
homework nowt around three point thirty in the morning, and
I get when that Donald Trump he puts out on
truth social that he is going to he's going to

(47:24):
bring back the salt deduction. Yeah, he vowed that he
would get salt back if re elected. Now again, this
was a part of his two thy seventeen Tax Act.
He signed it into law. Basically, what he did was

(47:44):
he capped. He capped the deduction for state and local taxes.
That's what it did. Allowed taxpayers to duct certain state
and local taxes from their federal returns. Now, I I
happened to live in a high tax blue state, that
salt deduction most certainly benefited me. So when Trump repealed it,

(48:10):
it was a smack up side the head as far
as my tax returns are concerned. But I agreed with it.
I agreed with it wholeheartedly because guess what, it's right.
I don't think it's moral, quite frankly, to force people
in low tax states to subsidize people in high tax states.
What I think high tax states you do is reduce

(48:31):
their taxes if they want to be competitive. Why should
Why should I get a tax deduction based upon the
taxes I pay to the state of New York. It's
my choice to live here, My fault, my bad. Okay.
But Trump, now he said, he's saying, here, we've got
a real chance of winning for the first time in

(48:52):
many decades, New York vote for Trump. I will turn
it around, get salt back, lower your taxes, and so
much more. Again, he signed it into law. And I understand,
you know, everybody's trying to get themselves elected at this
point in time. But for the life of me, for

(49:14):
the life of me, I don't understand how this is
not a top issue for people around the country. Interest
on our debt has surpassed one trillion dollars. We flush
more than a trillion dollars down the toilet every single year.
That's more than we spend on defense, more than we

(49:35):
spend on defense. And again, maybe a way to think
about it is just to just think about if your
household had to spend that much on interest on credit
cards and mortgage payments and car payments, and more than
half of the money that you were taking in was
just going to interest. This if money for nothing, like
dire streets saying a long time ago, money of nothing.

(49:59):
We've we've lost our way. We've lost our way again.
I try we can week out here on the program.
I try very very hard to get us back on track,
and we all need to do that. We talk about building, creating, protecting,
and teaching, and last week on the show, I read

(50:20):
to you something from Professor Scottish, professor from the late
eighteen hundreds, excuse me, late seventeen into the early eighteen hundreds,
talking about how republic's democracies that can't exist as a
permanent form of government. And he gave this the cycle

(50:43):
that takes place because it says people eventually figure out, hey,
I'm going to vote myself more money. I'm going to
vote myself more money, and then you get loose fiscal policy.
And he talks about this sequence where nations progress bondage
to spiritual faith, spiritual faith to great courage, courage to liberty,

(51:07):
liberty to abundance, abundance to selfishness, selfishness to apathy, apathy
to dependence, from dependence, back to bondage. We need to were,
quite frankly, we want to fix this. And I believe this.
I believe you know. I used to be, I mean
somewhat afraid to talk about these things on the radio show.

(51:31):
I'm not anymore. I don't care. I don't care. We
got to get back, quite frankly, to spiritual faith here
in this country. We can reset this. You want to
break this cycle. You want. We want to prove this
Alexander Fraser Tyler wrong. We've got to get back to
spiritual faith. We lost that. You lost that. You look

(51:55):
to the founders of this country. John Adams made it
perfectly clear that this country is not going to work
unless it was a moral people of faith based people.
We get back to that. I think we're going to
be able to get rid of a lot of the
other problems that we have. Got to take a break.

(52:18):
Watchdog on Wallstreet dot com, Watchdog on Wallstreet dot Com again.
I write, each and everybody. Become a part of the
Watchdog on Wall Street family, our personal cf all program.
Get that, what else? Count repair kids, podcasts, all sorts
of great stuff at our website Watchdog on Wallstreet dot
com or give us a call eight hundred four seven

(52:41):
one fifty nine.

Speaker 1 (53:04):
The only man who is taking on the Wall Street establishments.
You're listening to the Watchdog on Wall Street with Chris Markowski.

Speaker 4 (53:14):
You want to talk, you know, I'm gonna talk about
higher taxes. I presented this before here on the program.
I'm gonna present it again. I don't I don't particularly
like paying higher taxes. I really don't and One of
the reasons why more than anything else, more than anything else,

(53:39):
is that it's wasteful. That's why. But anything else out there,
it's wasteful. I feel like, how many people pay You
pay your taxes, you do the right thing. How many
people feel like you're getting your money's worth. We're thirty
five trillion dollars in debt. I feel like I'm getting

(54:01):
ripped off. That's just what the inflation does too. How
many of you out there, Okay, be honest. You go
out to dinner, You out to dinner, you have a
you know, a decent meal, but then you recognize these man,
these portions are getting small, and you get the bill
and you're like, my lord, I can't believe what I

(54:22):
just spent. And the dinner might have been you know, okay,
you know great, maybe it's even dinner was great, But
then you're saying yourself, you know what it was, It
was too much. It's too much. I talked about this
because again, I think that this is something that you
could rally the country behind. Again, something I would do,

(54:45):
something I would do if I was running for office.
You want to change the narrative bit here, I'd be
pushing for a balanced budget, amendment period, the end period,
the end. We have to balance the budget and we
have to start cutting across the board. We do, and

(55:06):
if you want to come, you want to come. People
want to come and raise their taxes. Okay, fine, okay,
all additional revenue, all additional revenue. Oftentimes it's it's counterproductive.
We know that. Okay, you raise taxes, you get less revenue.
That most certainly is the case with capital gains taxes
again and again and again. Talked about that last week

(55:28):
on the program. Kamala Harris wants to raise capital gains taxes.
Every single time that happens, less revenue comes in. But
anyway you start, you start going to people and you say, hey,
you know what, Yeah, you can get people to almost
like to have war bonds back in the day. We're
going to pay down this debt. We're going to tackle

(55:49):
this debt as a nation. It could be done. Maybe done.
I can look if you had a way where you'd say,
you know what, that's it. You make a constitution, you
got a cap you cannot spend more than you're taking in,
and you have to be allocating a certain amount of
money to tackling this debt. Do you understand what that

(56:12):
would do, What that would do for our nation as
far as credit worthiness is concerned, Solidify the greenback, a
myriad of things that would make this country so strong,
because you know what'd be looking to fix the problem
that we caused. We did it to ourselves. And yeah,

(56:33):
it's gonna take sacrifice, but it's a sacrifice I'm willing
to make. You come to me now, Kamala Elizabeth Warren,
and you're telling me you want to tax me more
so you can just turn around and flesh my money
down the toilet when you do nothing to curb your

(56:54):
profligate ways. Nah, No, I'm not. I'm not interested at
all in that anyway. Ah Yeah, I did do a
podcast on this, but we got we gotta talk about skin.
You know, people, I've used the word before. Obamacare sucks.

(57:18):
It really does. It is brutal, but it was by design, kids,
it was. Yeah, it's funny. You take a look at
spending and healthcare here in the United States, they go
back to two thousand to two thousand, and it's up
three hundred and fourteen percent, three hundred and fourteen percent

(57:42):
of US inflation, eighty three percent in that period of time.
This was by design, by design, we knew this going
in Barack Obama he made it clear. He actually said,
he said, yeah, no, this we can't do well. You know,
a single payer system here in the United States. The

(58:02):
American people wouldn't swallow it at the time. So what
they did was they put forward just like we said
they they did, was they put forth a plan that
was going to be an absolute disaster, but again put
us on that road to serve them highway to hell.
Single payer you're seeing it now, more consolidation and healthcare

(58:22):
across the board, all the waste that's involved. Now again
I went back and I took a look what I
paid in healthcare prior to Obamacare and compare it to today.
Not to mention the quality and how I mean, how
far it's fallen. How many people out there have a

(58:44):
difficult time. You know, your doctor's got you know, you
need an MRI or something done, and up rejected, rejective,
reject and then you got to you gotta push to
actually get things approved again. All by design. My hope
is this because again I was honest about this at

(59:04):
the time, and I'm gonna be honest with you now,
I don't think Obamacare is going anywhere. I think we
get this, this unfortunate thing in our country's side. Once
we start giving stuff away, nobody ever takes it away.
Nobody ever on rare occasion, do they make some cutbacks.
You go back to the last time really was with
the welfare reform that was done in the nineteen nineties

(59:25):
with New Gingridge and Bill Clinton. They're putting some work
requirements involved. My only hope is because I get this
question all the time, because this is a it's a
financial planning issue, it's a financial preparation issue. People's healthcare.
I've we're gonna end up with Medicare for all. The

(59:46):
only thing that we can hope for moving forward is
that they do not make outside private insurance illegal. People.
I'm gonna be honest with you. That's the future healthcare
right here in the United States. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com.

Speaker 2 (01:00:04):
We'll be back.

Speaker 1 (01:00:08):
Chris Markowski is the Watchdog on Wall Street. You should

(01:00:30):
believe in math, not magic. You're listening to the Watchdog
on Wall Street with Chris Markowski.

Speaker 4 (01:00:39):
Alright, welcome back, everybody. Two two stories, two stories. This
past week got my mind thinking about a classic classic
eighties film with Rodney Dangerfield. I get to the other
story later on. I'm gonna do one right now, but
actually want to I want to play a clip from
the movie Back to School. Well, this is a classic.

(01:01:01):
It's Sam Kinnison in this one as well. Let me
set this up for you, Okay, if you're not familiar
with the film, Rondy Dangerfield's a successful business owner that
never went to college. I went to college. He goes
back to college and his son is at college and
he's in a business class with the business professor in

(01:01:21):
this scene.

Speaker 5 (01:01:22):
Have a listen, all right, settled down, people, We've got
a lot to cover and time is short. There are
two kinds of people in business today, the quick and
the dead. So rather than waste your time this semester
with a lot of useless theories, we're going to jump

(01:01:45):
right in with both feet and create a fictional company
from the ground up. We'll construct our physical plant, we'll
set up an efficient administrative and executive structure. Then we'll
manufacture our product and market. I think you'll find it
very interesting and a lot of fun. So let's start
by looking at construction costs of our new factory.

Speaker 4 (01:02:09):
What's the product.

Speaker 5 (01:02:12):
That is immaterial for the purposes of our discussion here,
But if it makes you happy, Let's say we're making
tape recorders.

Speaker 6 (01:02:19):
Tape recorders so you can the chaps will kill us
on a labor course.

Speaker 5 (01:02:24):
Okay, fine, then let's just say they're widgets.

Speaker 4 (01:02:30):
What's a widget?

Speaker 5 (01:02:31):
It's a fictional product. It doesn't matter, That doesn't matter.

Speaker 4 (01:02:36):
Tell the bank, does he take it easy?

Speaker 1 (01:02:40):
On the board?

Speaker 5 (01:02:41):
You will see a cost analysis for construction of a
thirty thousand square foot facility which will encompass both factory
and office space and is fully serviced by all utilities,
a railroad spur line, and a four bay shipping dock.

Speaker 6 (01:02:54):
Hold hold the white bill here, you're better off leasing
and a book and a quarter book and a half
a square foot. Take your down payment and put it
into CDs or something else you can roll over every
couple of months.

Speaker 5 (01:03:04):
Thank you, mister melon. But we'll be concentrating on finance
a little later in the turn. For the time being,
let's just concentrate on the construction figures, shall we. You
will see the final bottom line requires the factoring in
of not just the material and construction costs, but also
the architects fees and the costs of land servicing.

Speaker 6 (01:03:26):
Oh, you're left out a bunch of stuff. Oh really.

Speaker 1 (01:03:31):
Like what? For instance?

Speaker 4 (01:03:33):
Well, first of all, you're.

Speaker 6 (01:03:35):
Going to have to grease the local politicians for the
sudden only problems that always come up. That is the
kickback to the carpenters. And if you plan on using
any CEMENTUS buildings, I'm sure the team should like to
have a little chat with you and I'll cost you.
Oh and if you're something for the building inspectors, then
there's a long term course such as waste disposal. I
don't know if you are familiar with who runs that business,
but I assure you it's not the boy scouts.

Speaker 5 (01:03:57):
That will be quite enough, mister Melon. Maybe bribed and
kickbacks and mafia payoffs are how you do business, but
they are not part of the legitimate business world, and
they're certain and not part of anything I'm teaching in
this class. Do I make myself clear?

Speaker 6 (01:04:11):
Sorry, just trying to help.

Speaker 5 (01:04:13):
It's all now, notwithstanding mister Mellon's input, the next question
for us is where to build a factory?

Speaker 6 (01:04:23):
How about fantasy life?

Speaker 4 (01:04:27):
You listen, I know it's a long clip, but again
it's a Greek clip, and this is nineteen eighties. It's
the same thing today. Fsall with those accents. Those are
our betters there in Washington, d C. These are the
people that tell you they know how to run things
and they can make everything work. And I'm seeing story

(01:04:50):
after story right now, and I laugh. I laugh at
these stories. It's all these failures in all of these
green industries that were subsidized with our tax dollars. I
laughed because I knew that they were all going to fail.
But you can also cry too, because we all spent
money on this. We're thirty five trillion dollars in debt.
We continue to subsidize nonsense. The story this past week

(01:05:14):
It's company out of Alabama would large the world's largest
wood pellet plant and had contracts worth more than twenty
billion to supply overseas power plants with an alternative to coal.
Yeah there was a problem, okay. Is that the fact

(01:05:35):
that their costs to make the pellets were more than
they could sell them for. For crying out loud.

Speaker 7 (01:05:46):
Youd, think that that might be a problem with your
overall business plan. We do everything half ass backwards here
in this country right now, and we had.

Speaker 4 (01:06:01):
So much, so many good things going on, and what
we're building and creating, we can't get out of our
own way. You know, Oracle this past week, Oracle this
past week. They need to build a data center. They
need to build a data center. And this data center
is gonna use one gigawatt of power. Now, when you

(01:06:23):
think of gigawatts, okay, think of Doc Brown from Back
to the Future, like wats no, no, no, no, no, one gigawatt
is enough to power seven hundred and fifty thousand homes.
That that's the type of demand that these these you know,
this latest tech needs. Well, you think we're gonna get

(01:06:44):
that with wood pellets and windmills in solar panels. No, no, no, no,
We got to get our proverbial heads out of our
buttocks and start building nuclear plants. Now, we gotta take
a break, kind of get a little bit deeper into
this when we get back. Watchdog on Wallstreet dot com. Yes, Yes,

(01:07:06):
reality served up cold, week in, week out, day in,
day out on our podcast. Get to our website Watchdog
on Wall Street dot Com. Sign up, Personal CFO program, podcast, newsletter,
you name.

Speaker 1 (01:07:21):
It, Howe Tad bringing America financial freedom one listener at

(01:07:43):
a time. You're listening to The Watchdog on Wall Street
with Chris Markowski.

Speaker 4 (01:07:50):
Here's another example. Okay, this is from the Wall Street Journal.
And you know, unfortunately many of the the journalists quote
unquotejournalists that work at the Wall Street Journal right now,
they really just don't know much. They really really just
just clueless in how the world works. And I always

(01:08:10):
go to that scene in Beverly Hills cop when Axel
Folly realized that Rosewood and Tagger didn't have a clue
when he's trying to explain them the coffee grounds at
Victor Maidland's warehouse. Remember that, what do you guys, God,
you guys don't know anything. I guess these journalists at
work at the Wall Street Journal they still got some
good columnists there. But here's the story. Bank of America

(01:08:33):
bets on carbon capture with big tax credit deal. Okay,
the story here is a climate technology that has struggled
to get off the ground is getting a booze from
a landmark tax credit deal with Bank of America, one
of the largest ever investments in carbon capture. Okay, first

(01:08:56):
and foremost, and this is to the kids who wrote
this article. Why do you think this climate technology has
struggled to get off the ground. Why, well, it's stupid.
It's not feasible. There's it doesn't make any money. It's
not going to work. Because this is how the world

(01:09:17):
works here in this country. If you have a good idea,
if you have a good idea and it makes sense,
you'll get money. You get finance, no problem at all,
landmark deal. The bank is providing two hundred and five
million dollars for this carbon capture deal. You don't want

(01:09:40):
you want to know why they're providing two hundred and
five million dollars. They don't care if they lose it.
They don't care. They know they know. Bank of America knows.
They know all well and good that that money is
going nowhere and the carbon capture company is going to
fall apart. They know this. Unfortunately, it's Wall Street can't
figure this out. They're given the two hundred and five

(01:10:03):
million dollar loan that they know they're gonna lose on
because they're getting tax credits. They are getting tax credits,
so it doesn't make any difference either they give them
money to this useless company, or they pay it to Washington, DC.

(01:10:23):
You know what the funny thing is is the best, dude,
you want the cherry on top of this story is
that this this, this money is going to capture carbon.
I kid you not from an ethanol plant. Yeah, yeah,
ye ethanol. That was the big green strategy that Al
Gore started way back in a day. Let's put food
into cars. Yeah, as it turns out, it's it's not

(01:10:45):
too environmentally friendly, producing too much carbon. Watchtog on Wall
Street dot com, watch dog, I want streat dot Com.
Don't go anywhere, We'll be back.

Speaker 1 (01:11:02):
You're listening to the watch dog on Wall Street. This right,

(01:11:30):
taking Wall Streets liars, crooks, and cheets out behind the woodshed.
You're listening to the watch dog on Wall Street.

Speaker 4 (01:11:40):
Then finish up with this public private partnership green nonsense,
taxpayer money being flushed down the toilet. Here. There's a
couple more stories I wanted to touch on first and foremost.
Yeah VP Yeah, British Petroleum. Yeah, they're selling off all
of their wind assets here in the United States because

(01:12:01):
they're a loser. Loser. Shell is doing the same exact thing.
And oh, by the way, more studies are coming out
saying again we told you this as well, that the
wind industry is killing sea life on the East coast.
Not great, that's fantastic. Let's kill whales. I guess they
can't even catch lobsters anymore off of Rhode Island because

(01:12:22):
they put these windmills up and it's been a mess.
They can't even find them anymore. Yeah, keep putting up
your nonsense. Now they's solar firm LUMO files for bankruptcy.
Oh no, I don't feel that the executives made money there. Yeah,
they got they got taxpayer dollars, they got subsidies. And
let me tell you something as well. I don't want
to hear any bs from either politician. We need to

(01:12:44):
have an all of the above energy plan. No, no, no, no,
no no. I don't want all of the above. Okay,
it's not a multiple choice question. I want what works.
Start building nuclear power plants now. Anyway, business stories here

(01:13:07):
Amazon this past week. It was interesting is that you
had various different pundits out there. Well, this is going
to change things for commercial real estate now that Amazon
is telling employees, you know, they want to be in
person five days a week, and that begins next year. No,
certain companies have already done that. Don't look too far

(01:13:29):
into this what Amazon is doing. I'm telling you I
bread between the lines here. This is Amazon's way of
laying people off without having to lay people off. That's
the way of doing it Amazon. We made fun of
a lot of these tech companies. They went absolutely bunkers
during COVID in overhiring. And they know, they know they

(01:13:51):
got a lot of people that are working in remote
locations that are nowhere near any of their corporate offices
and probably not going to pick up and move. Some
might where they can be close to an office again,
but this is their way of cutting their staff witholout
actually have to say, hey, we are having layoffs even
though they have been laying people off. This one I

(01:14:14):
want to talk about as well. Strike at Boeing. So
you've got thousands of machinists who build seven thirty seven,
seven seven seven and seven sixty seven jets. They walked
off the job rejecting the labor deal that was struck
between the union leaders and the Boeing executives. It was

(01:14:34):
a twenty five percent wage increases over four years. Now,
I wasn't familiar with the contracts at Boeing. I thought that, well,
that's a pretty good wage increase over four years. But
then I took a deeper look into what these people
are getting paid. And again this is this is Boeing's
outfit up there in the Pacific Northwest, starting wage twenty

(01:15:01):
one dollars an hour. Now, obviously you know you have
there's a higher cost of employing people and benefits and
everything that goes along with that. But WHOA. I'm like,
I pay my college interns more than that. These people
are putting planes together. Anyway, if Boeing, if there's company

(01:15:25):
that needs a real reset, needs a real breakup at
this point in time, that would be it. That would
be it. Boeing needs to be broken up. They've got
more problems than they know what to do with. Anyway,
Mario Droggi molto Mario, we call him. He wrote a

(01:15:45):
paper here about the EU and he's demanding that in
order to save the European Union and in order for
the European Union to be competitive, is that they're going
to have to reduce regulation. They're going to have to
do a lot of things. But he also wanted to
spend close to I don't know eight hundred billion euros
a year investing in the continent. And listen, Mario and

(01:16:07):
to everyone over in Europe. Unless you guys get out
of your own way, you're not going to be able
to fix a problem. I mean, you're you think we're
bad here with regulations, they take it to a whole
another level. You remember Angla Merkel and how waw did
she was? Oh my god, it's just this is brilliant,
brilliant leader of Germany. She's so smart, she's so great.

(01:16:29):
And I'm saying to myself, she's an idiot. How dumb
can you be? Germany? You are, right, the basically economic powerhouse, right,
you manufacture a lot of stuff in Germany. I got
an idea, why don't we give up all of our
nuclear power reactors and rely on wind, solar and Russia. Now, listen,

(01:16:54):
you could be a middle schooler and figure out to
add to you. That might not be a very good idea,
but that's that's what they did. Until they can get
out of their own way, it's going to be more
of the same. And some of the things that are
taking place in Europe right now, unprecedented blowback in regards
to the immigration, policies Germany basically, you know, got checking

(01:17:19):
passports at the border again, which they have. I mean,
it's been a long time. I'm going to go back
to when when that that whole shankin treaty was put
into place. Regulations kill destroy any sort of growth, any
sort of innovation. This was an interesting story as well.

(01:17:39):
I don't know if you remember. This wasn't that long ago?
Was it two three months ago? Maybe a little longer.
Elon Musk decides that he's going to interview he's going
to interview Donald Trump on X and this this guy here,
this Theory Breton, he's a member of the European Mission.

(01:18:01):
He sent off to Elon Musk this strongly worded letter
and you gotta read it. It's funny, basically saying I'm
writing to you in the context of recentvents in the
UK and a relation to the plan broadcast on your
platform X. I'll a live conversation between a US presidential
candidate and yourself which will also be accessible to users

(01:18:21):
in the EU. Here he comes. He he's saving he's
saving all the citizens of the EU from this interview.
Well again, Elon Musk basically told him to again take
a long walk off a short pier, except he did
it in a much funnier way out of something from
Tropic Thunder. Well, as it turns out this theory, Breton
got fired. Good for Elon, so Elon Musk unintentionally pushed

(01:18:46):
Europe in the right direction. Gotta take a break. Watchdog
on Wallstreet dot com. Watchdog on wallstreet dot com. We'll
be back.

Speaker 1 (01:18:57):
Chris Markowski is the watchdog on wallst. Well, no one altered,
investment banker, consumer advocate, analyst, trader. Chris Markowski is the

(01:19:21):
watchdog the Wall Street. Do you want to answer exposing
the lies and myths that the big brokerage firms, the
mainstream press, and the government are pushing to keep Americans
away from financial freedom.

Speaker 2 (01:19:34):
You can't handle the true proof.

Speaker 1 (01:19:37):
Bringing America the truth about what really happens in the
financial world.

Speaker 3 (01:19:41):

Speaker 1 (01:19:46):
This is the watchdog Wall Streets.

Speaker 2 (01:19:50):
All right, I gotta talk about.

Speaker 4 (01:19:54):
This again. It's you think about this where assassinations are
becoming a common occurrence here, assassination attempts on people ex presidence,
people running for the presidency. I remember, years ago, years ago,

(01:20:14):
on the program, I played, uh, it's played an Eddie
Grant song Romancing the Stone from the film Romancing the Stone,
because that's saying we're becoming more and more like a
Banana Republic. That was a great movie. Remember Michael Douglas
And uh, is this the bus to Katahinah? Yeah? Well anyway,

(01:20:36):
it's like, yeah, it's in the news, but it's not
even covered properly. For crying out loud. I got a
bunch of quest just questions. I'm gonna I'm gonna ask
a bunch of questions here. How does how does someone
from North Carolina lives in Hawaii nowhere to be in

(01:20:59):
the state Florida at the exact place, the exact place location,
at the right golf course where Trump just so happened
to make this last minute decision to play golf. I

(01:21:20):
got other questions here, Okay, how did this would be assassin?
Here's a guy who was felon felon, didn't have any money.
I'm already get the money to fly from Hawaii to
the Ukraine, get in front of non governmental organizations, the

(01:21:45):
Ukrainian Defense Ministry. What else is Oh? Yeah, yeah, yeah, yeah,
involved in Afghanistan with mercenaries. I don't know if somebody
like this not gonna pop up on anyone's radar at
all at all. The same week we watched Israel basically

(01:22:08):
pull off probably one of the most amazing operations in
the history of the world with the deeper explosions. And
we can't figure this out, guys, not on anybody's radar
at all. This not not, not the slightest bit suspicious.
Not to mention the media, here's a guy that got

(01:22:28):
interviewed by the New York Times news week sevenphore all
these things. You guys, don't take a look at this
guy's I don't know his background at all, might think
that he might be kind of a kook. No now,
at the time, you know, he fit whatever story that
they were writing at that point in time, So they will,
you know, overlook nonsense like that. Let me ask him

(01:22:53):
the question throwing out there, and this is, you know
what's scarier, scarier than the fact that you know, just
how incompetent you know, Secret Service, FBI, CEI, how they
all are. We all know that. And again we can
also tie in, you know what happened, what happened to
that first assassination attempt? Oh wit, we all we got

(01:23:14):
all sorts of information coming out that all of a sudden,
they just that that that was a cult. The case
went cold right there. Nothing, he's got accounts, he's got
encrypted accounts, he's got stuff all about what happened to that? Huh? Anyway,
imagine and God forbid? I said, God, I mean, God forbid.

(01:23:35):
I'm gonna make this perfectly clear, because the crazy lefties
out there that love coming after me, they're gonna try
to all right, should you should have going after you
want to attack Kamala Harris, Joe Biden? No, No, I said,
what if God forbid? God forbid there was an attack
on Kamala Harris? Do you know what they'd be calling

(01:23:55):
for right now? You know the left would be calling
for right now, Oh, she's trumps fault, hey for crying
out loud. The media. Trump's assassination attempt is the fault
of Donald Trump. The media actually been pushing that. Could
you imagine they went after Kamala or Joe or Walls

(01:24:16):
or anybody like.

Speaker 8 (01:24:17):
That, Oh my god, hate crimes, terror, white supremacist threat,
they'd be shutting down x they'd be calling.

Speaker 4 (01:24:30):
For all sorts of curbs on free speech.

Speaker 2 (01:24:34):
You know this.

Speaker 4 (01:24:38):
And that quite frankly, is it is frightened. It's fright
it is. There's a study that was done. We'll talk
a little bit about this, and again.

Speaker 1 (01:24:47):
This is.

Speaker 4 (01:24:50):
Not good, not good. Recent survey that was done. Most
Americans are fuzzy. Fuzzy. I think it's a nice word.
They're fuzzy on some basic civics concepts. Yeah. Constitution Day,

(01:25:10):
September seventeenth, this past week, they take a look at
what Americans know and don't know about our government and
our constitutional rights. Two thirds only two thirds, I mean,
I think put that into perspective. One third cannot name

(01:25:32):
all three branches of government executive, legislative, and judicial. They
don't understand how power is divided here in the United States.
I got a quick question as well, I mean, ask
a lot of questions this segment. Why not another one?
Do you think somebody who is not capable of understanding
how our government works and the balance of power? Do

(01:25:54):
you think that they should be allowed to vote? Because
my answer would be not. Now I've said this before
here on the program. Yeah, I think you should have
a license to vote then to make you get a
license to go bloody fishing, for crying out loud, get
a license to get a driver's license. You know what

(01:26:15):
that license should be is you should have to be
able to pass basic citizenship tests. Any immigrant has to
take this when they come into the country, and they
should be given up in high school and high school
before you graduate. You got to take these citizenship tests.
If you can't pass it, you don't get to vote. Listen,

(01:26:39):
you can take it as many times as you want.
You can take it as many time. You could take
it every day if you want, but you have to
pass that test in order to vote. This survey. When
it came to the First Amendment, almost everybody knew about
freedom of speech. Seventy four percent could name it. The

(01:27:02):
other four rights protected are thirty nine percent mentioned freedom
of religion, twenty nine percent noted freedom of the press,
twenty seven percent were called the right to assembly, eleven
percent the right to petition the government. Believe it or not,
people incorrectly said the right to bear arms was in

(01:27:24):
the First Amendment. And these are things that quite frankly matter.
These are things that should be taught in schools. But
let's let's just be honest and upfront here, kids, shall we.
They don't like the many people. They don't like the Constitution.
The left doesn't like the Constitution at all. They don't.

(01:27:49):
It's an obstacle to them. And we talk about all
the things that they want to do. They in particularly
got a pact of Supreme Court. Yeah, we got a
clear crisis of confidence in the court. And you know
that when they don't like a case the way it's said, well,
you know what, we got to change it, change it.

(01:28:14):
Tax on the court part of a growing counter constitutional movement.
It's been happening for some time here on the program.
It was an interesting piece on this sighting various different
are betters, college professors, college professors again, think of the

(01:28:35):
college professor that we played from back to school. Irwin Chimerinsky,
dean of the UC Berkeley Law School, author of No
Democracy Lasts Forever, how the Constitution threatens the United States.
In a two thousand and one Los Angeles Time Times
off at, he described conservative justices as partisan hacks. New

(01:28:58):
York Times book critic Jennifer Saslai scoffs at what she
calls constitutional worship. She writes Americans have long assumed that
the Constitution could save us a growing course, now wonders
whether we need to be saved from it. She frets
that by limiting the power of the majority, the Constitution
can end up fostering the widespread cynicism that helps authoritarianism

(01:29:20):
grow can break. New York Times op ed. Law professors
Ryan Durfler of HOBBOD and Samuel Moyne of YEAH said
the Constitution is broken and should not be reclaimed. Broken.

(01:29:41):
Others railing against the rights of individuals. Yeah, all a
rights talk out there. This is a piece by Jonathan Turley.
By the way, Barbara mcad University of Michigan Law School
called for free speech America's achilles heel. In other Times
op ed the First Amendment is out of control. It's

(01:30:04):
Columbia law professor Tim Wu who was a part of
the Biden administration, for crying out loud. He said that
free speech only protects corporate interests, it threatens essential jobs
of the state. George Washington Universities Maryann Franks complains that
the First Amendment and also the second is too aggressively

(01:30:27):
individualistic and in dangers domestic tranquility and general welfare every
these people again that these are college law professor, I
canna be quite honest, I got losing more and more
respect for these lawyers and these people desires. Did you
ever even see, ever, take a look at the Soviet

(01:30:48):
Union's constitution? Just just take a look at it. You know,
it's fun, It's a fun read. Mainstream democrats listening to
radical voices. How much does the current structure benefit us?
Aoch talking about her support for a court packing bill.
Then you had Kelly Robinson, president of the Human Rights Campaign,

(01:31:11):
at the Democratic National Committee's LBGTQ kickoff, says that we've
got to reimagine democracy in a way that is more
revolutionary than that little piece of paper. You got that guy,
what's his name there, Ellie Misstell. You know he is

(01:31:31):
on He's from the nation. He's on CNN and MSNBC
all the time. He's an odd looking cat. Let's just
leave it like that. You just look it up. He
calls the constitution trash and urges the abolition of the
US Senate, and he got Rosa Brooks from Georgetown complains

(01:31:54):
that Americans are slaves to the Constitution. And again, Georgetown
is supposedly a Catholic school and whatever reason it may be,
the Catechism doesn't think that way anyway. I can go
on and on and on, but that's that's what you're
dealing with right now. That's what's out there right now.

(01:32:15):
People that want to tear it down. People that they're smarter,
they're gonna bring you their little utopia, right yeah, looking
down the barrel of a gun anyway. Watchdog on Wallstreet
dot com. Watchdog on Wallstreet dot Com is a quick

(01:32:36):
little bit of a tip here you get a chance.
There is a great movie. It's called The Lives of
Others based in East Germany and See what happened behind
the scenes. They're the very, very good movie and I
highly recommend it. But I also highly recommend getting to
our website Watchdog on Wallstreet dot com, signing up for
our personal CFO program, our podcast, our newsletter, all sorts

(01:32:59):
of great stuff Watchdog on Wall Street dot com.

Speaker 1 (01:33:18):
This is the Watchdog on Wall Street.

Speaker 4 (01:33:24):
Reoccurring theme here on the program. A topic it's near
and dear to my heart. There's education here in the
United States, and over the past several weeks we've talked
about the teachers' unions. We talked about the amount of
money being spent, the amount of money being spent on
not teachers, but administrators, and all of these different things.

(01:33:44):
And we know the problems. We could see the grades,
We know how far things have fallen here in the
United States. And what's the solution every single time? More money,
more money, more money, more money. Just throw more money
at it, and the problem continually gets worse. Now, granted,
these are societal issues as well. Remember when I've talked

(01:34:06):
about here on the program that the problems with welfare,
the addictive nature of welfare and what it does to families,
destroys families. Talked earlier today about the need to have
a spiritual awakening here in the United States. We can
fix schools, no problem. Were going to fix schools by
spending less money. We can get all the crap out

(01:34:27):
of the schools and get back to basics. All we
need to do is to employ the free market. Donald
Trump this past week he talked about a bit of
a roadmap for taking the woke out of American education,
and he said he would deploy federal powers to pressure
schools and universities that he considers to be too liberal.

(01:34:52):
One strategy that he has described, would launch civil rights
investigations of schools that have supported transgender rights and racial
diversity programs. Another tactic, we'll use the college a credation
system which sets standards for schools to scale back diversity goals.
You know what, I disagree, I do. I his heart's

(01:35:14):
in the right place, But I don't want to create
I don't want to create another bureaucracy to deal with
this problem. There's a better way of doing this, mister
President Donald Trump, much better way. It's again, it's called
the free market. Allow money to follow the kid. If

(01:35:35):
if your school district spends let's say, for example, fifteen
twenty thousand dollars on your kid, let let you decide
what school they want to go to. Let schools compete
against one another for those dollars. What do you think

(01:35:57):
will happen. Let's just say we've got two schools. Here.

Speaker 9 (01:36:00):
We got we got we got happy happy joyge or
super woke left the school, homework is optional, all sorts
of stuff, diversity programs.

Speaker 4 (01:36:12):
And then you've got another school where it is in
essence old school reading, writing, arithmetic, civics. I know you
can you can throw in various different uh, you know,
old school type stuff, industrial arts, mckennie, vocational training. What

(01:36:33):
what schools do you think will be packed? Huh? All
these this woke nonsense is going to go away. It's
going to go away because again, the product coming out
of the school is not going to compare to the
schools doing things the right way, and it's going to

(01:36:54):
translate into the job market and where kids are going
to college and a myriad of other things. And sure,
sure you're you're gonna get some parents. I gotta fund
my kid to the school, the superliberal. But again, the
school's gonna go out of business because they're not going
to have enough people. So you don't have to bring
up woke, You don't have to bring up anything to say,

(01:37:15):
you know what I'm gonna do.

Speaker 1 (01:37:17):
We're gonna let it.

Speaker 4 (01:37:17):
We're gonna let the market decide what schools our best.
And certain schools within you know, a certain community, within
a certain area, they can set themselves up however they want,
and the parents can decide where they want their kid
to go to school. I got a sinking suspicion that

(01:37:40):
will clear up many of the problems. Now again, it's
not all of them. It isn't. We've discussed this here
on the program. You could have. You gotta have a
phenomenal school, phenomenal school doing the right things with math
and science and all of those things that I have
just discussed. But if the parents don't care, parents don't

(01:38:04):
care about their kid and their kids education, it's really
really difficult. It is a hard it's very hard on teachers. Again,
this is about one hundred times here on the program.
The school district that my children went to, I'm done

(01:38:24):
with public schools. Kids are all off in college. It
was great. It was great, not because we had the
greatest teachers do. We had some great teachers in good
bad like any other school. It's great in our community.
The families, the parents care, made sure that the kids

(01:38:47):
were studying, made sure that their work was done. You know,
some of the things that I've suggested, you know, over
the years, and I actually recognize it wouldn't work. You know,
tell your kids not prepared for schools, homework's not done,
call the parent up having picked the kid up from school.
What if you call home and nobody picks up the phone.
What if the parents don't care at all? We had that,

(01:39:10):
and again we've got to get out of that cycle
here in this country. Anyway, We've got to take a break.
You know, we're gonna get back. We're gona talk a
little bit about Trump's tariffs. He keeps talking up the tariffs,
and we got much much more. Don't go anywhere Watchdog
on Wall Street dot com. We shall return.

Speaker 1 (01:39:45):
Me. You're listening to the Dog on Wall Street, the

(01:40:06):
only man who is taking on the Wall Street establishments.
You're listening to the watch Dog on Wall Street with
Chris Markowski.

Speaker 4 (01:40:17):
Alighty, uh, Trump's tariffs. I've talked a lot about tariffs
here and again. You know, if you're new to this program,
well I am. I'm an equal opportunity basher on the program.
I don't I don't take positions and say I'm going

(01:40:39):
to support a candidate wholeheartedly. I think that's partly absurd,
partently absurd. I will go after both sides. And again,
I we're in a political season. You know, new listeners
ought to know. I said I voted for Trump two times.
It wasn't my choice. It wasn't my choice this time around,
as far as Amy's concern, wasn't my choice back in

(01:41:02):
twenty sixteen. I've always been a conservative libertarian. I wanted
Ran Paul in there, so yeah, I will take apart
policies that I don't like. I'm starting to come to
the realization and I hope I'm right on this that
Trump when he talks tariffs, I think he's being a
bit general. I listened to a debate not too long ago,

(01:41:28):
and the Art Laugher was one of the participants in
the debate. He was talking about Trump's terrify ideas, and
he was saying, no, no, no, he's you know, he's
not going to do that. He's only want to do
tariffs in a tit for tat type of a situation.
And it has a bit skeptical. But then again this
past week, Howard Lutnick, who is the gentleman he used

(01:41:50):
to be. I think he's still a chairman of Canter Fitzgerald.
He's in charge of Donald Trump's transition team, basically stated saying, hey, here,
we're gonna it's tariffs are going to be you know,
you hit us with twenty percent, We're hitting you with
twenty percent. You do this to us, We're going to
do that back to you. From the get go. I
don't have any problem with that, all right. Trump was

(01:42:13):
out on the campaign trail and he's up there at
a podium and he said, Pan's getting whacked twenty percent
and China's getting whacked sixty percent. No, no, no, you
can be a little bit more clear than that. And
again we shall see because without a doubt, with without
a doubt, tariffs raise the price on all of us.

(01:42:36):
Even if, like I said, they put tariffs us so
we decided to go back, it's going to make our
costs go up. And I want to go back to
Trump's trade representative, Robert Bladheiser, and he's he's talked in
the past about his desire to increase prices. He gave
a speech in twenty twenty two when he was outlining

(01:42:58):
his philosophy, and I quote, we need to change the
focus of our policy away from price optimization. Our primary
objective should be policies that will build strong American families
and communities and create productive, high paying jobs. That should
be our goal, not cheap stuff. And the question and

(01:43:19):
answer session, he said, the best way to fix consumerism
is to raise prices. He has a point there, He
has a point there, and I've gone off on rants
about this over the years here on the program, the
cheap junk that people constantly buy, and hey, I'm guilty
of it too, guilty having a process of moving right now,

(01:43:41):
and again, moving is hell, but it can also be
a bit of cathartic experience. Also, we are thrown a
lot of junk out and donating a lot of stuff,
and we get into the cycle here in this country
where you know, we buy stuff and it's so inexpensive
that's here, and then we don't think about the quality
of it. We just throw it out. But you know,

(01:44:05):
anyway across the board type tariffs, no, no. The only
issue that I have, and I've explained this before when
it came to his tariff policy, is that where there's
such a mess when it comes to government subsidies here
in the United States, China, Europe, whatever it may be,
national champions. We're supporting this right now. We just sent

(01:44:26):
trade representatives over to over to China because China's just
you know, they basically hit the high speed button when
it comes to pumping out stuff and they're subsidizing all
these companies and worried about on the trade war. That's
the issue. But then again, we subsidize certain industries too.
Case in point, early on the program. Here you go

(01:44:47):
and tell here's another three billion dollars. How you untie
all of this mess? I don't know. Anyway, this was
kind of an interesting story. Again, the IRS has failed
again again. Try to get your arms around this. The
IRS came out this past week and said that it's

(01:45:08):
not going to be able to replace its Individual Master
File until twenty twenty six at the earliest. What is
the Individual Master file? Yeah, that's the digital silo which
has all of our tax returns. One hundred and fifty
four million. Tax files are held, one hundred and fifty

(01:45:29):
four million, and you need to keep it up to
date so you can get all your information properly and
speedy refunds and all that good stuff. I'm not making
this up, Okay. The computer code that this file is
written in was a database in the nineteen sixties called cobol.

Speaker 2 (01:45:50):
Yeah.

Speaker 4 (01:45:51):
IBM engineers at the same time their colleagues were working
on the Apollo program put this database software together. It's extinct.
It's a computer leg it's it's extinct and more extinctive
Aramaic for crying out loud. By twenty eighteen, the IRS
had only seventeen remaining developers considered to be experts on

(01:46:13):
the system. Okay, just get this straight. They've been trying
to fix this since the nineteen eighties. They sell have
been able to do it since the eighties. Four billion
dollars to fix a software problem. Four billion you could
have You could have hired data entry people to re
enter it into Excel for crying out loud, for less

(01:46:33):
money in a shorter period of time. Four billion dollars
over fourteen years, and I got to spend more another
two point seven billion. There's your tax dollars at work.
The irony, it's the IRS. Watchdog on Wallstreet dot com,
Watchdog on Wallstreet dot com again, take advantage of all

(01:46:54):
the great stuff that we have at our site. Watchdog
on Wallstreet dot com, or give us a call eight
hundred four seven one fifty nine eighty four.

Speaker 1 (01:47:22):
You should believe in math, not magic. You're listening to
the Watchdog on Wall Street with Chris Markowski.

Speaker 2 (01:47:29):
I don't want to give it.

Speaker 4 (01:47:33):
When when Donald Trump, when Donald Trump is out and
then wha, he's doing a debate, he's out in a
campaign trail, and you know he starts ranting and raven
about World War Three. Unfortunately, I think many people tune
it out as hyperbole. They're wrong, They're wrong. World War

(01:47:57):
three is not hyperbole, and quite for I wish, I
wish mister Trump would do a better job, quite frankly,
of getting his point across, because I'm gonna be honest
with you, I'm going to feel a hell of a
lot safer. Hell. Like I said, I disagree with him
on a myriad of issues, but I'm going to feel

(01:48:19):
a hell of a lot better when it comes to
foreign policy, hell of a lot better when he's in
the White House, if he makes it to the White House.
I actually was suggesting during the uh, you know, during
the primaries that you know, rather than, rather than I
have him run for the presidency. Have you know, I
wanted to, you know, big Ron de Santis, guy like
Vivek as well. I said, you know, make Donald Trump

(01:48:41):
secretary of State. But it's not hyperbole. For I don't
know if this didn't make it, this wasn't widely spread
out there, you had some of our allies. I've never
even heard of this before. A minister of the European

(01:49:01):
Parliament in Poland said, and I quote blinking, go home
as soon as possible, get lost. We don't want you here.
We don't want Polish people paying and dying for your wars. Again,
another another bit. Again, he should go online, he can
watch it. He's Vladimir Putin warning, warning that long rain

(01:49:27):
strikes into Russia would elevate the conflict with Ukraine into
a direct war with NATO. He said translation, this will
mean that NATO countries, the United States, and European countries
are fighting against Russia. Yet, Yeah, you go to various

(01:49:49):
different publications where you get all of these warmongers, these
doctor strangeloves out there saying that we need to send
more and more weapons and allow the Ukraine to strike
with our weapons deep into Russia. That would make us
directly involved. This is what I'm afraid. I don't think
many of these people, quite frankly, understand this. Weapons don't

(01:50:10):
work without our satellites. They don't work without our satellites
because they're you know, they're precision guided missiles. So we
would be directly involved. Did you really want to go
down that path? Watchdog on Wallstreet dot com, Watchdog on

(01:50:30):
Wallstreet dot com. Don't go anywhere. We'll be doing.

Speaker 1 (01:50:47):
Chris Markowski is the Watchdog on Wall Stars 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 4 (01:51:16):
Yeah, I'm almost certainly in the political silly season here
and again, what we try to do here at the
Watchdog on Wall Street, SOHO obviously differentiates us from the
other talk programs and programs you find on business networks
out there, as we try to pull in the political,
the social and how it's going to affect you and

(01:51:36):
your wallet, and most certainly bring in financial preparation issues
that none of these none of these networks on these
shows will ever talk about. One of the things that
I guess I kind of recognize I've been remiss in
over the past several weeks here on the programs, we
really haven't delved into the ripoffs and scams. I'm looking

(01:51:59):
at some of the numbers right now when it comes
to crypto scams here in the United States, they're pushing
close to six billion dollars and that's just the stuff
that they found out about. Again, people, I don't know
what to tell you. I really don't. Earlier on in
the program I mentioned a life lesson simple lessons. We

(01:52:20):
talked about that everything in life that has meaning, value
and worth having work time and effort. You're looking for
something new, you're looking for something quick, you're looking for
something easy. There's a pretty damn good shot that you
are going to get burned. When I'm asked.

Speaker 10 (01:52:40):
About crypto and digital assets and all this stuff, I
tell people I said, whatever you put into it, you
go into it expecting that you are going to lose
it all.

Speaker 4 (01:52:53):
It is speculative, and don't let anyone else tell you otherwise.
It is in the same way, in the same way
that if you were responsible gambler. I've used this before.
I don't gamble, okay, gamble. Never gone to a casino
to gamble, that's something that I like to do. Never

(01:53:14):
bought a lot of ticket. I don't do any of
the stuff. Okay, it's not for me. But I do
speculate on certain things, certain investments. But anytime I speculate
on something, I say, you know what, if I lose
everything on this, it's okay, okay, because I am speculating.
It's the same thing with you know, if you're a

(01:53:35):
good gambler, you say, hey, you know what, I mean,
my good gamblers, responsible gambler. I enjoy game. I like
to gamble by But you go and you like playing blackjack.
You go in and saying, you know what, I only
want to gamble three hundred dollars on my trip to
Vegas or my trip to the casino, whatever it may be.
And you walk out. You either you know, have more money,
you have some money, or have no money. But it's

(01:53:56):
entertainment dollars to you. You have to be careful seeing
more and more, you know, people getting taken in a
myriad of other Ponzi schemes with real estate and leverage
loans and all of this stuff. And again it's all
get rich quick stuff. What have we told you? Get

(01:54:19):
rich quick? Con artists the world's second oldest profession, greed
and fear set the trap. Anyway, I mentioned China a
little bit earlier on the program and some of the
trade war stuff. Again, they've got a mess on their

(01:54:39):
hands right now. You're taking a look right now at
the China ten year yield. Not good. You can also
take a look at their equity market over there, not good.
More and more companies that have flocked to China are

(01:54:59):
getting out. They're saying it's becoming more and more difficult
to do business there, and there's just the investments are
not flowing into that country by any stretch of the imagination. Again,
earlier on in the program, we talked about command and
control economies now for for a very long period of time.

(01:55:22):
And I get it.

Speaker 2 (01:55:23):
I get it.

Speaker 4 (01:55:24):
You're the CEO of a company here in the United States,
and you know the type of growth that China had
truly extraordinary where they came from and where they're at today. Okay,
their new z is he's been horrible for the country,
but prior to him, they most certainly were heading in
a much much better direction. And I get it. You're

(01:55:46):
the CEO and you make widgets, so you make baseball caps,
whatever it may be. And you see a country emerging
from poverty and there all of a sudden got a
middle class and I got a billion people there, And
you said, I want to say, it'll sell a billion
baseball caps. That's something you want to get involved with.
But as soon as soon as they start saying, you

(01:56:08):
know what, command and control, command and control, We're going
to start running things out of Beijing, that's the moment
you really got to be careful and that's what they've
done to themselves. And again you can even tie this
into some of the foreign policy stuff as well. You know,
people are worried about some of the saber rattling that's
taken place and the Chinese votes threatening some of the

(01:56:30):
Philippine area. There's a lot of that going on. But
let's said traditionally, you got to do your homework when
it comes to China, got to read about China. They've
never been in their history thousands and thousands of years,
a country that's been what we'd say imperialistic, because let's
be honest, if they wanted to roll into Taiwan, they
could roll into Taiwan anyway. Earlier on in the show,

(01:56:55):
we played a clip from Back to School and I'm
told you there's two stories, two stories today that I
was going to use for that clip. And the clip,
Ronnie Dangerfield was telling the professor about all the kickbacks
and all the money that he had to pay out
to politicians and this one and the union whatever it
may be, and the professors are it's not the legitimate

(01:57:18):
business world people that was the nineteen eighties. Things haven't changed.
We talked about last week on the program. Just what
a disaster the city of New York is with the
corruption that's involved, the corruption at city Hall, bloody police COMMISSIONEROK,
they're all bad now. Two x FD New York chiefs

(01:57:39):
arrested by FEDS for taking two hundred thousand dollars in
bribes to speed up inspections. Yeah, and this is this
is par for the court. It's par for whatever you
want to do in these corrupt states. I talked about
it here on the program by the House that I

(01:58:01):
built here in Long Island. To get things done, get
approvals done, you actually have to. They have some actual job.
You're an expeditor. You gotta you gotta pay expeditors to
pay off other people to get permits done and permits
file so you can get your work done. Pathetic anyway,
God bless everybody. Have a wonderful week. Watchdog on Wallstreet

(01:58:23):
dot com we'll see you.

Speaker 1 (01:58:28):
You're listening to the Watchdog on Wall Street

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