November 25, 2024 • 9 mins
New York Football and our Government. www.watchdogonwallstreet.com
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Yeah, New York football and her government. I got a
confession I got to make first and foremost. I am
a Giants fan, heir neuro football Giants fan, but I
also root for the Jets as well. Talked about this.
Best friends got season tickets and I go to a
(00:37):
lot of games. You couldn't drag me to the game.
At this point in time. I don't care how great
the tailgate is. I can't watch this nonsense. I really can.
I actually mentioned I think on the radio show. I'm
thinking about becoming a part time Detroit Lions fan just
because the head coach, I think is just fantastic. But anyway,
(01:00):
New York football and our government. New York football didn't
get to this state overnight. Many many, many poor choices
compounded upon one another year after year after year, and
(01:26):
you end up with this mess. I gotta admit as well.
Six o'clock this morning, sixts when I I'm at the
gym and listen to my usual podcast there. But I
had to flip on the New York Sports station at
six a m. Boomer and Geo program to listen to
(01:49):
their analysis of what's going on with the Giants. Couldn't
help myself, couldn't help myself. But anyway, the Giants, they're
gonna run out the clock this year. They're going to
take three steps back, three steps back, and I hopefully
in order to take many steps forward, get a better
(02:10):
draft pick, have more money and I you know, there's
a myriad of different things, and again they're in a
difficult position. You have a salary cap in the NFL,
you can't do the things that you might not need
to do. You don't know who you're going to get
in the draft, all sorts of stuff. Now what am I?
What is that to do with government? Sometimes? Yeah, sometimes
(02:35):
you really things have to get worse. You know, like
I said, taking a few steps back to take many
steps forward, what's going to happen. It's going to happen,
is and I hope it happens. Reducing government spending, eliminating
(02:56):
government waste is going to have an effect. It is good.
You're gonna see g d P numbers drop, and unfortunately,
many people out there are going to take this in
the media and say, oh my god, look at Trump
took office and GDP has dropped. It was better under Biden.
(03:19):
And again they're liars. They're liars. They know exactly what's
taking place, and they're using this for political gain. You're
gonna have it's gonna it's gonna hit employment as well.
But it's what we need. It's what the doctor ordered.
(03:42):
Like the New York Giants, they don't they do not
need to win any more football games this year. What
I like, you know, everybody wants to see them. Yeah,
that's that's all well and good, but we all we
all need to understand that. Ope, it's about getting the
better draft. Russ now, who's just said that draft choice
is going to work out and you go out there
(04:03):
and you play the games, and I get it, okay,
but you're talking about you're talking about a government now,
you're talking about fifty years. Fifty years. We have gone
nuts past a few decades. Here goes since it really
the turn of the century, it's going out of its mind.
(04:25):
I mean, say you talk about it's two thousand and four,
the national det's going from eight trillion to thirty six
trillion dollars. We had everything under control in two thousand,
Clinton was on his way out the door with Newt
gingrich things were they got it under control. Why do
(04:47):
we have so much inflation? Why have things gone nuts?
And again, I even like to think about it in
terms of even even government bonds. Back in the nineteen
ninety these and the higher much higher than they were now,
and nobody really fretted over it, or really fretted over it,
didn't really bother. You know, Now we got you know,
(05:08):
interest rates and mortgage rates are up around you know,
high six is closer to seven. Everybody has a heart
attack for crying out loud, and I'm like, okay, were
that addicted? Were that addicted to you know, artificially low rates.
We have got distortions in our economy which are it's bad.
(05:36):
And we talked about consumer goods, unproductive, nonsensical government jobs,
people that are not doing anything, this facade disappearance. Here's
fougasy as I've called it here of oh yeah, Hell's
economic growth economy is just awesome, No, no interesting here,
(06:00):
And some numbers I'm going to repeat I've talked about
them before twenty twenty three, twenty five percent of all
job additions were government jobs. Last twelve months, government jobs
increase by an average of forty three thousand per month
GDP figure. Government spending accounted for thirty percent of annualized growth. Again,
(06:27):
if and I hope they do, If Vek and Elon
are successful, guess what. GDP is going to drop and
the unemployment rate is going to go up, but it
is going to be a good thing. We need to
take our medicine. I've often described it. I talked about
(06:49):
it this past weekend on the radio show. Think of
re sessions, think of and this is this is a
self We need a self inflicted recession via getting rid
of government spending, getting rid of these jobs. It is
like a lymphatic system. We're getting rid of all of
the crap that we've been doing to ourselves for decades.
(07:11):
Now again, you think about, you know, all of this
spending and all of the economists out there and everything
that's been taking away all the time, it's all been
a lie, this Kinsian nonsense that they have pushed upon us.
(07:31):
It doesn't make any sense. You want to be as
productive as possible, and all this kings has nothing to
do with productivity. It has everything to do with the
old you know, Milton Friedman digging with spoons that we've
talked about here on the program, creating jobs, you know,
digging holes and filling them up. I mean, making no
(07:54):
sense if we do this, said and God willing, I
like I said, I'm hopeful. I'm hopeful we are going
to get ourselves back to a hypergrowth type of an economy. Again,
many younger people out there, you've never experienced anything like this.
(08:16):
I mean, you've got to go back to you know,
eighties and nineties to see that type of dynamic growth.
And it's what we're capable of doing. And again I remember,
remember Obama and Biden thought that they were going to
they were going to do that, they were to get
the government grow because they were coming out of the
worst recession, going a great recession. Should have popped, except
(08:39):
they believed in all this Kingsian nonsense and government spending
and running it out of Washington, d C. And they
kept trying, and they kept trying, and they kept trying again.
The you know, definition of stupidity is doing the same
thing over and over again, expecting a different result, but
they kept doing it. Oh, Joe Biden is going out
there is touting recovery summer. Joe Biden. He was also
(08:59):
in charge ar to the the American Recovery and Reinvestment Act, right,
because nobody messes with Joe. Failure, failure, failure. Then it
came time towards the end of Obama's term and Obama
just threw his arms up in the air and he said, well,
you know what those days where America could have that
that that you know, hyper economic growth, those days, the
(09:20):
three four percent, those days are going. They weren't real
in the first place, No Barack, no leftists. They were real.
They happened. The problem is you. The problem is you
and your ridiculous belief that you can control an engineer
(09:42):
economy out of Washington, d C. Watchdog on Wall Street
dot com,
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Yeah, New York football and her government. I got a
confession I got to make first and foremost. I am
a Giants fan, heir neuro football Giants fan, but I
also root for the Jets as well. Talked about this.
Best friends got season tickets and I go to a
(00:37):
lot of games. You couldn't drag me to the game.
At this point in time. I don't care how great
the tailgate is. I can't watch this nonsense. I really can.
I actually mentioned I think on the radio show. I'm
thinking about becoming a part time Detroit Lions fan just
because the head coach, I think is just fantastic. But anyway,
(01:00):
New York football and our government. New York football didn't
get to this state overnight. Many many, many poor choices
compounded upon one another year after year after year, and
(01:26):
you end up with this mess. I gotta admit as well.
Six o'clock this morning, sixts when I I'm at the
gym and listen to my usual podcast there. But I
had to flip on the New York Sports station at
six a m. Boomer and Geo program to listen to
(01:49):
their analysis of what's going on with the Giants. Couldn't
help myself, couldn't help myself. But anyway, the Giants, they're
gonna run out the clock this year. They're going to
take three steps back, three steps back, and I hopefully
in order to take many steps forward, get a better
(02:10):
draft pick, have more money and I you know, there's
a myriad of different things, and again they're in a
difficult position. You have a salary cap in the NFL,
you can't do the things that you might not need
to do. You don't know who you're going to get
in the draft, all sorts of stuff. Now what am I?
What is that to do with government? Sometimes? Yeah, sometimes
(02:35):
you really things have to get worse. You know, like
I said, taking a few steps back to take many
steps forward, what's going to happen. It's going to happen,
is and I hope it happens. Reducing government spending, eliminating
(02:56):
government waste is going to have an effect. It is good.
You're gonna see g d P numbers drop, and unfortunately,
many people out there are going to take this in
the media and say, oh my god, look at Trump
took office and GDP has dropped. It was better under Biden.
(03:19):
And again they're liars. They're liars. They know exactly what's
taking place, and they're using this for political gain. You're
gonna have it's gonna it's gonna hit employment as well.
But it's what we need. It's what the doctor ordered.
(03:42):
Like the New York Giants, they don't they do not
need to win any more football games this year. What
I like, you know, everybody wants to see them. Yeah,
that's that's all well and good, but we all we
all need to understand that. Ope, it's about getting the
better draft. Russ now, who's just said that draft choice
is going to work out and you go out there
(04:03):
and you play the games, and I get it, okay,
but you're talking about you're talking about a government now,
you're talking about fifty years. Fifty years. We have gone
nuts past a few decades. Here goes since it really
the turn of the century, it's going out of its mind.
(04:25):
I mean, say you talk about it's two thousand and four,
the national det's going from eight trillion to thirty six
trillion dollars. We had everything under control in two thousand,
Clinton was on his way out the door with Newt
gingrich things were they got it under control. Why do
(04:47):
we have so much inflation? Why have things gone nuts?
And again, I even like to think about it in
terms of even even government bonds. Back in the nineteen
ninety these and the higher much higher than they were now,
and nobody really fretted over it, or really fretted over it,
didn't really bother. You know, Now we got you know,
(05:08):
interest rates and mortgage rates are up around you know,
high six is closer to seven. Everybody has a heart
attack for crying out loud, and I'm like, okay, were
that addicted? Were that addicted to you know, artificially low rates.
We have got distortions in our economy which are it's bad.
(05:36):
And we talked about consumer goods, unproductive, nonsensical government jobs,
people that are not doing anything, this facade disappearance. Here's
fougasy as I've called it here of oh yeah, Hell's
economic growth economy is just awesome, No, no interesting here,
(06:00):
And some numbers I'm going to repeat I've talked about
them before twenty twenty three, twenty five percent of all
job additions were government jobs. Last twelve months, government jobs
increase by an average of forty three thousand per month
GDP figure. Government spending accounted for thirty percent of annualized growth. Again,
(06:27):
if and I hope they do, If Vek and Elon
are successful, guess what. GDP is going to drop and
the unemployment rate is going to go up, but it
is going to be a good thing. We need to
take our medicine. I've often described it. I talked about
(06:49):
it this past weekend on the radio show. Think of
re sessions, think of and this is this is a
self We need a self inflicted recession via getting rid
of government spending, getting rid of these jobs. It is
like a lymphatic system. We're getting rid of all of
the crap that we've been doing to ourselves for decades.
(07:11):
Now again, you think about, you know, all of this
spending and all of the economists out there and everything
that's been taking away all the time, it's all been
a lie, this Kinsian nonsense that they have pushed upon us.
(07:31):
It doesn't make any sense. You want to be as
productive as possible, and all this kings has nothing to
do with productivity. It has everything to do with the
old you know, Milton Friedman digging with spoons that we've
talked about here on the program, creating jobs, you know,
digging holes and filling them up. I mean, making no
(07:54):
sense if we do this, said and God willing, I
like I said, I'm hopeful. I'm hopeful we are going
to get ourselves back to a hypergrowth type of an economy. Again,
many younger people out there, you've never experienced anything like this.
(08:16):
I mean, you've got to go back to you know,
eighties and nineties to see that type of dynamic growth.
And it's what we're capable of doing. And again I remember,
remember Obama and Biden thought that they were going to
they were going to do that, they were to get
the government grow because they were coming out of the
worst recession, going a great recession. Should have popped, except
(08:39):
they believed in all this Kingsian nonsense and government spending
and running it out of Washington, d C. And they
kept trying, and they kept trying, and they kept trying again.
The you know, definition of stupidity is doing the same
thing over and over again, expecting a different result, but
they kept doing it. Oh, Joe Biden is going out
there is touting recovery summer. Joe Biden. He was also
(08:59):
in charge ar to the the American Recovery and Reinvestment Act, right,
because nobody messes with Joe. Failure, failure, failure. Then it
came time towards the end of Obama's term and Obama
just threw his arms up in the air and he said, well,
you know what those days where America could have that
that that you know, hyper economic growth, those days, the
(09:20):
three four percent, those days are going. They weren't real
in the first place, No Barack, no leftists. They were real.
They happened. The problem is you. The problem is you
and your ridiculous belief that you can control an engineer
(09:42):
economy out of Washington, d C. Watchdog on Wall Street
dot com,
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