Episode Transcript
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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 it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
We have this house of ours, this foundation that's been
built for almost two hundred and fifty years, strong, foundation, Constitution,
the Declaration of Independence. Yeah, this nation's had its ups
and downs, but we're rotting right now. The house is
(00:40):
rotting from within, and we have this enormous, tremendous opportunity
right now to change all of it, all of it.
You know. The funny thing is, I've been rant and
raven here for the past couple of weeks and excited
(01:00):
angry from time to time in regards to some of
the things that I've seen. But I've always been angry
about these things. I've always ranted and raved about the
Watchdog on Wall Street, access of evil, the criminality from
the Big Club, all of the government waste. I've written
columns going way back when talking about comparing the federal
(01:23):
bureaucracy to Steve McQueen's Blob nineteen was nineteen fifty six film.
Speaker 3 (01:29):
Bloated by the blood of its.
Speaker 2 (01:30):
Victims, so bloated by our tax dollars, and nobody has
done a damn thing about it.
Speaker 3 (01:37):
Nothing. We've gone from John Murtha airports and bridges to nowhere.
Speaker 2 (01:44):
And again a few of us would scream in yelly,
you get the Rand Pauls and a Tom Coburn's and
a few others from time to time, but everybody just
kind of like, well, that's just the way it is.
Speaker 3 (01:57):
And all of these spending projects.
Speaker 2 (01:58):
What were we told, What were we told by all
of these people.
Speaker 3 (02:02):
Oh, it's just not a big deal. Just a light
on them, it's not a big deal.
Speaker 2 (02:07):
Well, five million here, twenty million there, a couple of
billion there. It adds up, and we're thirty six trillion
dollars in debt. Yesterday and the program, I talked about
the bonds that we have to roll over at much
higher interest rates because we are, for all intensive we're
pretty much an insolvent country.
Speaker 3 (02:28):
We can change all that, but many people have to go.
Speaker 2 (02:34):
Another column I wrote years ago, title wasted Talent, and
we are so blessed here. You got to just think
of take a look at just our geography, our natural resources,
the two oceans.
Speaker 3 (02:52):
On both sides.
Speaker 2 (02:55):
We've got a lot going on here in this country,
and we're wasting our talent. I mean, I comes from
the movie The Bronx Tale. Saddest thing in the world
is wasted talent, the potential that we have if we
(03:17):
can clean up all of this waste, all of this fraud. Again,
thinking back when I was a kid, the Jetsons and
flying cars and the things that could be done if
we weren't wasting so much capital we have again, we
have we've got a poverty problem this country. We've got
(03:37):
an underclass here in this country. I think we could
most certainly do a much better job of that if
it's not being stolen money, all these funds being stolen
by people in Washington, DC and their cronies and their buddies. Now,
Elon Musk gave a discussion a couple days ago there
(03:59):
at the White House about what he's doing, and he said.
Speaker 3 (04:03):
Nothing wrong, nothing wrong. He got called out, He.
Speaker 2 (04:08):
Got called out on the fifty million dollars for condoms
because I said it was going to Gaza. It was
going to Gaza, Gaza, Mozambique. And they made the point, well, yeah,
we got that wrong, and we're going to make mistakes
and we're going to correct them as soon as possible.
But I still think fifty million dollars for condoms is
a bit much and how how can you argue with that.
(04:33):
One of the things that one of the things that
I've talked about for some time, it's just, you know,
the type of characters, type of people that we elevate.
Speaker 3 (04:43):
We decide to vote for.
Speaker 2 (04:47):
Our founders again, the people who built the foundation of
this nation. Our founders wanted people to go and serve,
Go and serve, and then get the hell out and
go back to your farm, go back to your law practice,
go do something else, exactly what Elon Musk is doing.
(05:13):
And Donald Trump as well, go and serve.
Speaker 3 (05:19):
And leave.
Speaker 2 (05:21):
I've told this story before. Look up Harry Truman. After
he left the White House, he had to move in
with his mother in law. He had to move in
with his mother in law. He refused, he wouldn't take
White House stationary a pencil because to him, and he
(05:45):
was right, I shouldn't profit at all from serving the
American people. Again, this is one of the ruses that
these people put on. They call themselves public servants, they
named buildings after themselves. They're not even dead yet. They
argue over we're gonna, well, we're gonna name a post
(06:05):
office or a bridge after That always pisses me off.
You didn't pay for that bridge. The taxpayers paid for
that bridge.
Speaker 3 (06:12):
Screw you. Alexander Stolezan Eatson again.
Speaker 2 (06:21):
It was dealt with the Soviet Union and spent his
life and wrote many books about the Gulags, and his
life story is quite amazing.
Speaker 3 (06:32):
He had a line, I'm paraphrasing here. We know.
Speaker 2 (06:38):
We know they are stealing. They know that they are stealing.
They even know that we know they are stealing. But
they're still stealing. That That is that is the big club.
That's what they're doing today. The Democrats continue to melt.
(07:01):
You're watching it real time. Uh did you see that
song that they were I mean, are you kidding me?
One Democrat Representative Maxine Dexter from Oregon, she wanted to
boil down the Democrats agenda into a sound bite and
(07:22):
her her thing was to f Trump.
Speaker 3 (07:25):
That's what we're here to do. We're here to f Trump.
That's that's your agenda.
Speaker 2 (07:32):
Huh Anderson Cooper Anderson Cooper, yes, yes, yes, he is
uh again air Air to Vanderbilt money right there? He
he got he got backed into a corner by Sonunu
on his show with Socratic arguments.
Speaker 3 (07:55):
He couldn't do.
Speaker 2 (07:56):
He couldn't come out of it, so he decided to
call Sanunu a dick.
Speaker 3 (08:00):
You're being a dick.
Speaker 2 (08:03):
Oh there you Anderson Cooper shows his true intelligence not
very high.
Speaker 3 (08:12):
Again.
Speaker 2 (08:13):
Anybody tries to debate you using facts and intelligence, you
got to come back like.
Speaker 3 (08:17):
You're a dick. What do we Oh my dad can
beat up your dad. Pathetic for crying out loud. We're
watching right now. But this is again, this is nothing new,
nothing new again.
Speaker 2 (08:35):
I hope that America is finally fit up with this
or maybe they feel like they're in power, that something's
actually going to be done.
Speaker 3 (08:43):
Again.
Speaker 2 (08:43):
I never and I watched this podcast and watch them
for sometime. As these people who go crazy at political
rallies and get into all this stuff. I said, you're.
Speaker 3 (08:51):
Rooting for people that's steal.
Speaker 2 (08:55):
You want your team to steal your money rather than
the other team to steal your money because both sides
are thieves people, both Republicans and Democrats. Oh, you don't
think Republicans could have done something about this. Where the
hell was Reagan on this? Where the hell was Bush
one and Bush two on this?
Speaker 3 (09:17):
Nowhere? This is none of this is new.
Speaker 2 (09:21):
This has been ongoing, and this is why we are
in the hole that we are in as a nation.
People feel and hopefully that they're feeling empowered that these
people need to pay. They came out that Samantha Power,
(09:41):
former head of usaid her net worth goes to thirty
million dollars on a salary of under one hundred and
eighty thousand dollars.
Speaker 3 (09:55):
What what? What? What did she just?
Speaker 2 (09:56):
You know, she start buying in Vidia calls and lever
those things up.
Speaker 3 (10:03):
Show me, show me how you did it.
Speaker 2 (10:10):
Nancy Pelosi salary two hundred twenty three thousand, net worth
two hundred and two million. Mitch McConnell annual salary two
hundred thousand, net worth ninety five million dollars. Chuck Schumer
annual salary two hundred and ten thousand dollars. Net worth
is seventy five million dollars. Elizabeth Warren annual salary two
hundred and eighty five thousand dollars. She made more he
(10:31):
was working at Harvard net Worth sixty.
Speaker 3 (10:35):
Seven million dollars.
Speaker 2 (10:38):
Now, I am in the money management business, and again
we've been around for thirty years.
Speaker 3 (10:46):
Do a pretty good job. I can't do that. We
build wealth, We build wealth. But that's bullshit. Okay.
Speaker 2 (11:01):
I have to take every year to take continuing education
classes and we are constantly being asked about money laundering.
If I had clients like this, it would be setting
up red flags everywhere. They would think, the SEC would
think that I had a bunch of drug dealers as clients.
Where did the money come from? Show me there has
(11:23):
to be a paper trail. There must be a paper trail,
because this is ridiculous. You know, it's funny too. I
can right now over three times more people in Washington,
DC are in the search is going through the roof,
are googling criminal defense lawyer. This is the greatest most
(11:48):
in the United States right now, Washington DC.
Speaker 3 (11:57):
If these.
Speaker 2 (12:00):
These people had any any sort of again, they're not,
you know, very good human beings. You I'm I'm a
big believer. You know, if you are a former, if
you're a politician, civil servant, and you get famous and
(12:21):
you get various different connections because of your office, any
money that you you get from that should go to
the taxpayer. It should go to the tax payer. And
I don't say people.
Speaker 3 (12:39):
Talking about wealthy people in politics.
Speaker 2 (12:42):
Let me ask you a question, is it is it?
Speaker 3 (12:48):
Is it more respectable? Is it more respectable to.
Speaker 2 (12:56):
Come into politics with money, being rich coming into politics
or coming into politics with no money and then leaving rich?
Which is which is more respectable?
Speaker 3 (13:17):
Again? Oh, it's this talent and charisma bullshit? Well shit,
I am. I have a great disdain again.
Speaker 2 (13:30):
It's you know, talk about stones and shoes. It just
it's always bothered me since I was younger for injustice,
for injustice, and you call it. Some people say, oh,
it's not fair. Well, listen, I understand life's not fair.
Speaker 3 (13:49):
Okay, there's a difference. I allude to that.
Speaker 2 (13:52):
Louis c k skit where his Uh, he's got two
daughters and one daughter. There's one popsicle left, and one
daughter got the popsicle, the other daughter and get one
and she's compliant.
Speaker 3 (14:03):
It's not fair. It's not fair.
Speaker 2 (14:05):
And he's like, I don't even know what that means.
You know, sometimes you know, you know, this person's bowlful
and sometimes yours. Sometimes things are not fair. That's not
that's not the type of fairness I'm talking about. I'm
talking about genuine in justice. This is these are people
that have been stealing from us for a very long
(14:28):
period of time, and the graft is global. It's global.
Here's two I don't know if you've heard about this.
You've got a member of the European the Greek member
of the European Parliament. Dear mister Musk, we have taken
notice of your post on x concerning improper use and
(14:51):
corruption on the funds of US Federal Emergency Management FEMA
that were finally wasted on luxury hotels for elle migrants.
We are writing to formally request information regarding any identified
instances of direct or through NGOs misallocated funding intended to
assist illegal migrants in Greece. Given recent findings over the
(15:14):
improper use of public resources in similar cases, we see
clarification on any financial allocations, violations or corrective actions intended
to be taken by your department concerning this manner. The
parallel yet powerful deep state system of corruption and waste
of public money working cross border in order to enforce
the ideology of unstoppable illegal migration, must be identified and unrooted.
(15:39):
Please provide any details, reports or findings at your convenience.
These are foreign politicians that are like You've been messing
around in our country too. Robert Fico, as the Prime
Minister of the Slovak Republic, Dear Sir Elon Musk, congratulations
(16:01):
on your appointment and the decisions you make. The announced
cancellation of USAID agency also affects the internal affairs of
Slovak Republic. It is undeniable that financial resources coming from
USAID were also used in Slovakia for political purposes to
deform the political system and favor certain political parties. In
order to be able to separate useful and beneficial projects
(16:23):
from gross interference in the internal affairs of the Slovak Republic,
I considered to correct to contact you with their quest
to provide all available information about subsidies and grants provided
to NGOs media and individual journalists who worked and are
active in the territory of the Slovak Republic. It is
clear only from incomplete public sources that USAID has supported
(16:46):
these entities with several million dollars in grants in a
relatively short period of time.
Speaker 3 (16:56):
Foreign countries.
Speaker 2 (17:00):
And the United States is messing around and our internal
affairs and funding certain groups. It's freaking gross man, Okay,
it really is.
Speaker 3 (17:15):
Uh.
Speaker 2 (17:16):
I've talked about this before here on the program I'm Blessing.
You know, I spend time go away with my family
vacation summer. We often go to Greece in the various
different islands and you see these massive, massive yachts, I
(17:37):
mean just huge, and they all have names on the
back of them, and you know, we'll take a look
and they have Wikipedia pages. You know who owns these
masks and Ukraine, yeah, Kazaks, all these various different places
(17:58):
again that we're funneling money through. You know, I'm any
houses are owned here in the United States by people
in the Ukrainian government way up the ladder.
Speaker 3 (18:07):
It. Tucker Carlson was talking about that last week.
Speaker 2 (18:09):
It was in Switzerland and one of their more expensive
ski towns, the entire place. We're Ukrainians super wealthy. That's
that's your money, kids.
Speaker 3 (18:22):
That as your tax dollars at work.
Speaker 2 (18:27):
Anyway, some of the latest, latest and greatest things that
were coming up with at this point and time. This again,
every day every day I think we are that's not
going to get any worse.
Speaker 3 (18:44):
And this again, I think this tops the.
Speaker 2 (18:47):
Uh the study on flavored cigarettes with trans and lesbians.
Federal employee retirements are processed.
Speaker 3 (18:57):
Using paper by hand in a mine.
Speaker 2 (19:04):
In a limestone mine in Pennsylvania, seven hundred mine workers
operate two hundred and thirty feet underground to process ten
thousand applications per month, which are stored in minimal envelopes
and cardboard boxes. The retirement process takes multiple months.
Speaker 3 (19:30):
Again, I'm regulated by.
Speaker 2 (19:32):
The Securities and Exchange Commission. If I handled my clients'
funds and our paperwork in such a matter, I'd be
out of business. The maximum amount of people who can
retire from the federal government in a month is ten
thousand because the paperwork is done manually and the speed
(19:52):
I'm not making this up.
Speaker 3 (19:54):
Okay, I'm not look it up. The speed at which the.
Speaker 2 (19:59):
Mind shaft elevator can move determines how many people can
retire from the federal government.
Speaker 3 (20:08):
Yeah, this is again. It's this thing is two.
Speaker 2 (20:11):
Hundred feet deep, thirty five acre underground reservoir to create
a geothermal cooling system. They tried to digitize the process
for decades, decades.
Speaker 3 (20:24):
This is hard. To do.
Speaker 2 (20:27):
I can hand this over to my buddy at Google
and they would have it handled in a week. But
they did spend one hundred and six million dollars trying
to digitize it, but they failed, so they're continuing to
do the same thing.
Speaker 3 (20:42):
This is how the government.
Speaker 2 (20:44):
I mean, it's right out of the movie Brazil with
the paper flying all over the freaking place. Who works
in a freaking hole in the ground retiring government workers?
Speaker 3 (20:56):
How did you get that job?
Speaker 2 (21:00):
Seriously, you remember that, doug What was that that stupid
testing us that it could take when you were like
in ninth grade or eighth grade? What color is your parachute?
Is supposed to predict what job you were gonna have
in life? Did they have mine, mine worker paper pusher
on that at any point in time?
Speaker 3 (21:20):
For crying it out loud?
Speaker 2 (21:21):
That's like, that's like a punishment in purgatory. I'm curious
how much these guys are getting paid. Why what do
you do you come home like, hey, honey, I had
a great day in the mind moving paperwork.
Speaker 3 (21:35):
Around. Here's one.
Speaker 2 (21:41):
Yeah, they just termined another eighty nine contracts. Department of
Education eight hundred and eighty one million dollars. Oh yeah,
oh we need Oh can't dismantle department education the kids?
Oh my god, they need all that money. One contractor
was paid one point five million dollars and I quote
(22:02):
to observe mailing and clerical operations at a mail center.
When asked what he does, nobody knew. I cracked jokes
about office space. What exactly do you say you do here?
(22:22):
I want to know who this person is. I seriously,
why is the media not curious who is this contractor?
Speaker 3 (22:30):
Why don't we get a microphone on this person? He said?
Do you feel bad? Do you feel bad about doing
nothing and taking one and a half million dollars from
the taxpayers a year to sit there and do nothing?
Speaker 1 (22:51):
Oh?
Speaker 2 (22:51):
Yeah, NewsGuard another one, Yeah, that was the one that
helped helped you know, it would advise advertising agencies not
to spend any money on any conservative publications. Yeah, that
was funded by us AID. Again, it's it's it's gross
all the way around. It's it's injustice that's rotting our
(23:15):
house away.
Speaker 3 (23:16):
And now you get all those people. Oh, there's NGOs
do a lot of good work. And see Thomas Massey
put this out.
Speaker 2 (23:23):
If government funding think about if government funding shuts down
an NGO, It's not, nor was it ever a non
governmental organization. How could it be a non governmental organization
if government funding shut it down, you're calling it a
non governmental organization, Yet it is funded by the government,
(23:45):
making it a governmental organization. At it again, and then
the oats looking at the receipts, looking at the result,
seeing what government's spending. Oh, that's horrible, that's it, that's it.
Threat to democracy. You just saying how stupid that is.
(24:09):
I've got three kids in college. Three kids in college,
one of them my daughter. She's got a little proclivity
to spending. The boys they're very they're frugal, and they
ask my daughter not so much. If I was to
(24:29):
ask my daughter, can she show me some receipts, show
me some of the spending and what's going on? Is
she going to tell me that I'm a threat to democracy?
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