Watchdog on Wall Street: Podcast for Weekend of May 10 - May 11 2025

Farewell To a Legend. Process People! Ken Griffin Interview. Gucci on Lay-A-Way?? Hotel Hedge Fund Trilogy of Tariff Terror! Buffett on Tariffs. Jobless with a Degree. Protection From the Terminator! Nation of Laws. Not Men. Drug War Futility.

Episode Transcript

Speaker 1 (00:07):
Well, no one author, investment banker, in some advocate, analyst, trainer,
Chris Morkowski. He is the watchdog on the Wall Street.
Do you want to answer exposing the lines and myths
that the big brokerage firms, the mainstream press, and the
government are pushing to keep Americans away from financial freedom.

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

Speaker 1 (00:30):
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 waiting and economic reality.

Speaker 2 (00:39):
This is the watchdog Wall Street.

Speaker 4 (00:45):
Farewell, Farewell to a legend. Warren Buffett.

Speaker 5 (00:52):
Warren Buffett stepping down from Berkshire Hathaway again. He's ninety
four years old. He's stepping down as CEO. He's not
going to retire, not gonna retire, He's going to keep working.
He said, I'm going to continue to be involved and

(01:12):
he thinks, you know, and he's right. I'm going to
try to be a great value to Berkshire Hathaway and
give them advice.

Speaker 4 (01:18):
Why retire? Well, if you love what you do, why tire?
And he obviously really enjoys what he does.

Speaker 5 (01:29):
I am again my longtime listeners, now that what we
teach here at the Watchdog on Wall Street Show here
on air twenty five years, Markowski Investments thirty plus years.
What we try to do is we try to compound wisdom.

(01:49):
I've said it before, and we're going to get into
our process because it's the Warren Buffett process.

Speaker 4 (01:55):
Rule number one. Compounding is the royal road to riches.
What does rich mean? You can be rich.

Speaker 5 (02:02):
You can be rich in love, you can be rich
in relationships, you can be rich in knowledge, you can
be rich in wisdom, you can be rich in your faith.
But if you're adding to it all the time, you're
adding to it and you're allowing it to compound. That's
where true wealth is not just created in one's portfolio,

(02:26):
but it's applicable to everything. Listen, first of all, I
got I gotta thank everybody out there that's buying my
book work time and effort at Amazon. Thank you so much.
I really do appreciate that. And just like last week,
we're giving a bunch away today as well. You sign

(02:47):
up for our personal CFO program, you sign up for
our podcast, we're gonna be sending out free books here,
there and everywhere.

Speaker 4 (02:54):
I don't know what the process is. But I don't know.

Speaker 5 (02:57):
I got a twenty or thirty of I'm gonna give
away today on program for people who sign up. But
it's not the first book that I wrote. It's not
the first book that I wrote. We'll talk about the
book a little bit later. First book I wrote a
little over ten years ago and I never published it.

(03:17):
It's finished about i'd say about eighty five ninety percent,
and I just said, nah, this is stupid. And the book,
quite frankly, was about investing and proper investing in preparation.

Speaker 4 (03:33):
And I said to myself, another one of these.

Speaker 5 (03:36):
You got entire sections at Barnes and Noble at investing Advice,
and you know, I went back and I said, you know, Chris,
you should listen to some of the things that you've
actually talked about over the years. And rule twenty on
Markowski Investments, the watchdog on Wall Streets wrote to Financial Independence,

(03:58):
We've got twenty rules is when people ask you investment advice,
you bore them, quite frankly, quite frankly, what we teach
here on the program, what Warren Buffett has been teaching
over the years, what guys like Talib have been trying

(04:21):
to teach, taking from Benjamin Graham, taking from the Bible,
taking from all of this, this wisdom of the ages.

Speaker 4 (04:30):
It's not exciting.

Speaker 5 (04:33):
I don't have a magic formula and algorithm that will
make anyone rich quickly.

Speaker 4 (04:42):
You want.

Speaker 5 (04:42):
An amazing statistic comes to Warren Buffett. Take a look
at a wealthy is multi moti multi billionaire. Ninety six
percent of his current wealth ninety six percent of it
was obtained after the age of sixty five years old.

(05:03):
That is the power of compounding. That's that's the power
of doing things the right way. So, yeah, I didn't
I didn't publish that first investing book. Again, I've written
countless essays about it. We talk about it all the

(05:25):
time here on the program.

Speaker 4 (05:29):
Buffett.

Speaker 5 (05:29):
Buffett actually had some really interesting things to say last
weekend talking again, these are these are things that we
discuss all the time. Uh, the world is not going
to adapt to you. You are going to have to
adapt to the world.

Speaker 4 (05:47):
Sound familiar.

Speaker 5 (05:48):
We talk about the terrain here all the time and
going with the terrain. And I always mentioned that great
line told me about my navy seal said, yeah, you
can go into battle and you can have a plan.
You can have a plan, ah, you know exactly, and
you think you have a map and everything you know

(06:10):
is you know, you're all set up for it. But
then you get there and your map is wrong. Your
map is wrong. Things are different, the terrain is different.
So what do you do. You stick with the plan,
you stick with the plan, you stick with the map,
or do you go with the terrain. Mike Tyson put
it this way. Everybody's got a plan until you get

(06:30):
punched in the face. And it's true. He also said
this last week. The more sophisticated the system gets, the
more unpredictable the shocks. That's part of the stock market.
That's also what makes it a good place to focus

(06:51):
your energy if you have the right temperament. Terrible place
to be if you panic when markets go down and
celebrate when they go up. I don't mean to sound critical.
I know people are emotional, but when you invest, you
have to check those emotions at the door. Another another individual,

(07:14):
Daniel Khannoman Behavioral Finance, talked about him at great lengths
here on the program. The wisdom of these people think
about wisdom, it's timeless, it's timeless. There's a right way
of doing things and a wrong way of doing things.

(07:36):
And one of Wall Street's great marketing tricks is they
always try to convince you that they found a new
way and we've got a short cut, when the reality
is when everything in life that has meaning, value and
worth involves work, time and effort. Another, I want to

(08:00):
talk about Warren Buffett that I have talked about here
on the program. The media doesn't because the media media
likes their portrayal of you know, Warren Buffett. Aye, he's
you know, folksy guy o mah, has had his house
since the nineteen sixties. He eats his dairy queen every day,

(08:22):
likes his cherry cokes. Make no bones about it. Okay,
Warren Buffett is a shark. Yeah, it's great, folksy homeste
But let me tell you something. He's a very very
shrewd investor. Many of his tactics we've explained here on

(08:44):
the program. And he understand he understands, he understands investing.
He also understands the power of Washington.

Speaker 3 (08:52):
D C.

Speaker 5 (08:54):
And regulatory capture. And he's he's discussed a little bit.
We've gotten to it a little bit more here on
the program. Moats we talk about moats. You know, you
think of a moat that surrounds a city. Actually, to
go to Greece, you go to the island of Rhodes.
They have like a walled in city there. That's it's neat.

(09:15):
You gotta go across these little bridges where the moat
used to be. It's an amazing place. And many companies
are able to in essence, build moats around them that
protect them. It's what too Big to Fail is. Buffett
was great at that. He understood that. You know something

(09:36):
was real great at too, buying businesses, Buying private businesses
from families that didn't.

Speaker 4 (09:44):
Prepare pop properly for the estate tax.

Speaker 5 (09:48):
I have we talked about I mean, this is going
back twenty years ago on the program. It's talking about
proper estate planning and understanding the estate tax. And one
of the things that Warren Buffett used to do as
he used to go and see who died, who died,
what business owners did. He was able to buy up

(10:09):
profitable companies on the cheap because the families weren't prepared
properly to pay the estate tax and had to sell
the business. They had no choice. They had to pay
the estate tax and when they have no choice and
they have to sell. What happens they get desperate and
you could get you can get a great company at
a discount price.

Speaker 4 (10:29):
He's very good at that. And on the other side
of the coin, what else did the shark do?

Speaker 5 (10:33):
Because he was smart, got involved in the insurance business,
because then you can go ahead, you can sell insurance
to families to protect them from the estate tax. Here
is a very very bright guy, bright guy that.

Speaker 4 (10:51):
Again he took and he learned from the same.

Speaker 5 (10:54):
People that I learned from the Benjamin Grahams of the world.
There's just so much many that are out there. And
he didn't deviate back in this back of two thousand
and seven. Back in two thousand and seven, he put
out his you know he does his annual letter to shareholders,

(11:16):
and at that point in time, he crafted his annual
letter to shareholders started off as a help wanted ad
and it started I said, wanted a young man or
a woman with the potential to manage a very large portfolio.
I remember back at the time against two thousand and seven,

(11:37):
people are like, oh, Buffett's going to retire soon. He's
going to retire. Look at what what do you add
his annual report. He writes he says the ideal candidate
must be someone genetically programmed to recognize and avoid serious risks,
including those never before encountered. Other key requirements in dependent thinking,

(12:01):
emotional stability, and the key understanding of both human and
institutional behavior. And I took that and I wrote a
column basically trying to explain to people what you need
to look for. You need to basically use that formula
when actually hiring somebody to manage your money, to help

(12:24):
you with your finance, your family's personal CFO.

Speaker 4 (12:28):
That's what we do.

Speaker 5 (12:30):
It's a very important decision to make, and many people
that don't choose wisely, and poor choices can set all
sorts of plans, retirement, whatever it may be, can make
it a bit thorny. Again, that's the way you need

(12:51):
to look at things, and you take a look that
help wanted, the simplicity and how it's applicable to everyone.
His process, His process is our process. What if we
said time and time again about Markowski Investments, what we

(13:14):
teach we at Markowski Investments we build ownership in great businesses,
great businesses with great ideas, businesses that have certain economic
and niche advantages.

Speaker 4 (13:34):
Firms that have great management.

Speaker 5 (13:38):
We own these companies based upon what we expect out
of them, their performance over time.

Speaker 4 (13:46):
We do not We do not try to time the market.

Speaker 5 (13:53):
We don't do that. We're not traders. If it's a
solid business, we field valued properly, we're going to buy
it no matter matter what the market is doing. Not
stock pickers, not market timers. We are great business owners
and buyers.

Speaker 4 (14:12):
And I'm here to.

Speaker 5 (14:13):
Tell you you want to be successful, you want to
be you want to build wealth. That's how it's done.
No shortcuts, no shortcuts. You stick what has worked throughout history.
You know what funny thing is, people guess what. Some
years are going to be better than others. Some years

(14:36):
are going to be better than us.

Speaker 1 (14:37):
You go back.

Speaker 5 (14:37):
You could take a look at Berkshire Hathaway's record. I mean,
I just pulled it up from nineteen ninety five until today.
They've had down years. They've had years that didn't work
out that great. They've had years that were they underperformed
the S and P five hundred. But over time, over time,

(14:58):
since since he started nineteen sixty four, you're gonna take
a look at the return that's what you need to
focus on, not the here and now where you're going
to go. We have a lot we're gonna talk more
about this, talk more about his process and the right

(15:20):
way and the wrong way of doing things. Stay on
the program. I'm gonna take a quick break right here.
But again, I want to invite each and every one
of you to become a part of our family, The
Watchdog on Wall Street Markowski Investments Family.

Speaker 4 (15:34):
Get to our website.

Speaker 5 (15:36):
Watchdog on Wallstreet dot com. It's Watchdog on Wallstreet dot com.
Sign up for our personal c FO program, our podcast,
All sorts of great stuff book for sale online.

Speaker 4 (15:48):
We're giving away a lot of them today.

Speaker 5 (15:49):
Anyway, Watchdog on Wallstreet dot com, or give us a
call eight hundred four to seven one fifty nine eighty four.

Speaker 2 (16:11):
You should believe in math not magic.

Speaker 1 (16:14):
You're listening to The Watchdog in Wall Street with Chris Markowski.

Speaker 4 (16:22):
What about?

Speaker 1 (16:24):
What about about? It?

Speaker 5 (16:25):
Is the Watchdog on Wall Street Show. I gotta I
gotta address this. Some of the comments that I've been
getting from people that have been reading the book kind
of taken back based upon the stories that we included there,
and people like these are these are clients these are

(16:45):
people do business with us.

Speaker 6 (16:46):
I yah, yeah, I've been I've been telling you this
for twenty five years. And you know, the amazing stories
of people have built their businesses up and built wealth
over time, and how they did it through.

Speaker 5 (17:03):
Work, time and effort. And you know, people think this,
they don't want to believe, they don't believe. You know,
you have clients that, you know that blue collar school teachers,
people from all walks of life that have built this
amazing wealth and this amazing life by doing things the

(17:24):
right way, by not looking for shortcuts. There's a great
meme out there. This was sent to me, you know,
a while back, and I kept it lying around my
office and it says, imagine playing Monopoly.

Speaker 4 (17:40):
Imagine playing the game Monopoly.

Speaker 5 (17:43):
And never buying any assets or investments that generate income.

Speaker 4 (17:49):
Imagine you just you just.

Speaker 5 (17:50):
Go around the board again and again and again, collecting
two hundred dollars, giving money to the people that are
built up assets and trying to day out of jail.
Do you know, unfortunately, how many people live their lives
and it doesn't have to be this way. Sorry, I

(18:11):
get excited, I get I love it when I get
young people, college kids, recently graduate asking me questions about
saving money and putting money.

Speaker 4 (18:21):
Away, and I'm honest with them.

Speaker 5 (18:24):
I say, you know you really you want to do
you want to get ahead, Okay, you want to be
able to build later on.

Speaker 4 (18:29):
Put in a little extra effort.

Speaker 5 (18:31):
Oh, I know, you got that great job right out
of college and it's paying you eighty five thousand dollars
a year, but you're living in a city and you're
spending a lot of that money on a myriad of
different things. Work on the weekends, get a second job,
put that money away, invest it, invest it, and see
where you're going to be ten years from now and
what you're capable of doing. Then everything in life that

(18:55):
has meaning, value and growth involves with work time. And
our process mentioned it, and I mentioned it a million
times here on the program, and it exciting.

Speaker 4 (19:09):
Nope, no, no, we are simple.

Speaker 5 (19:12):
Rules of the road are process, compounding royal road to riches.
Compounding is your best asset, and it can be your
worst enemy too. It can be your worst enemy too.
If you have high interest credit card debt, that compounding.

Speaker 4 (19:32):
Is killing you. It's crushing you, and you have to
do everything and anything that you can to.

Speaker 2 (19:40):
Get out from underneath it.

Speaker 5 (19:44):
Because guess what Barren Buffett's best years, he's not showing
the type of interest that you're paying to your credit
card companies. You have to get out from underneath that,
and you have to allow compounding.

Speaker 4 (19:58):
To work for you. Rule number two.

Speaker 5 (20:03):
Well, we'll get to rule number two when we get
back from the break anyway.

Speaker 4 (20:07):
You know what, listen, okay again, each and every one
of you.

Speaker 5 (20:11):
We welcome everyone to our family at Markowski Investments in
the Watchdog on Wall Street show Watchdog on Wallstreet dot com.

Speaker 4 (20:19):
Sign up for our personal CFO program.

Speaker 5 (20:22):
Sign up for our podcast, all sorts of great stuff there,
and like I said, we're giving away a whole bunch
of my books today, So take advantage Watchdog on Wallstreet
dot com or give us a call eight hundred and
four to seven one eighty four.

Speaker 1 (20:38):
Chris Markowski is the Watchdog on Wall Street bringing America

(21:00):
financial freedom. One listener at a time. You're listening to
the Watchdog on Wall Street with Chris Markowski.

Speaker 4 (21:09):
There is nothing wrong.

Speaker 1 (21:13):
Here?

Speaker 2 (21:15):
What amack?

Speaker 4 (21:15):
Everybody?

Speaker 7 (21:16):
I know.

Speaker 4 (21:18):
We're talking about work time and effort. We're talking about
compounding wisdom.

Speaker 5 (21:22):
We're talking about building wealth and we're talking about the
semi retirement of the great Warren Buffett.

Speaker 4 (21:31):
I was.

Speaker 5 (21:32):
I didn't realize because there's so many books that have
been written about Warren Buffett, you know, some authorize, some
not authorized. He never wrote a book, he never put
a a book out and I put a smile on
my face. I had a like double check. I said, really,
he never wrote anything, never had any book out there.

(21:52):
Obviously had his his essays and his annual letter to shareholders.

Speaker 4 (21:58):
And you know, I didn't maybe actually feel good.

Speaker 5 (22:01):
That I didn't release my first book, an investing book.
It didn't make it any says he didn't do it either.
But there's a lot of great wisdom that is out there.
And another gentleman that I talk about, one of the
brightest guys on the planet, guy by the name of
Nasa Nicholas Talip, the author al He's got a book

(22:22):
series called The Incerto and his famous book called the
most Famous Books called The Black Swan, who is unbelievable
when it comes to discussing risk. This guy's a bit
of a philosopher as well. And the concept of h
fragility or anti fragility, which we use rule number two

(22:42):
rule number two, and our process at Markowski Investments is
don't lose money.

Speaker 4 (22:49):
Duh, who told you is Moorkowski?

Speaker 5 (22:52):
Don't lose money? That what that really means is okay,
because again, not everything is going to work out. Okay,
you have to you have to protect your downside. But
you can never ever let a risk lead to ruin.

(23:13):
You can't do it. Okay, you don't let risk lead
to ruin, meaning that you know, you don't say, ah,
this is the greatest, I can't believe this, this idea
can't miss.

Speaker 4 (23:25):
I've used the example.

Speaker 5 (23:27):
It's a you know, uh stock that's done really well
for us, for a lot of people over the past
ten years in video for example. As great as you
know that company has performed, and as great as we
thought it was, we didn't decide to say, hey, you
know what, we're taking every single one of our portfolios
at Markowski Investments and going all in on the video

(23:49):
because again that that's not prudent because you don't know
what lies in the future. Okay, you got to understand
that you don't know what you don't know, and that's
too much of a risk.

Speaker 4 (24:04):
And people do it all the time. It's like they
all in put all, I'm all in on this. Don't
do that?

Speaker 5 (24:14):
Meaning what well, number three, you're investing like you're already wealthy,
wealthy people, successful people. They have a way about doing things.
And you think about you think about last month, thing
about April and the volatility in the markets. It was
crazy every single day, the type of volatility that was

(24:36):
out there. Do you think that Warren Buffett was the
slightest bit worried or upset?

Speaker 4 (24:42):
Do you think he was sitting there glued to CNBC.

Speaker 5 (24:48):
Waiting to see what the markets we're going to do
or how he should react? No, no, no, no. Wealthy
people don't do that. And we buy things that are
on sale, buy things that are on sale. Another famous
Warren Buffett quote from many many moons ago, and I'm
paraphrasing it.

Speaker 4 (25:10):
He talked about I pay agreed. He said, I pay
a great sum of money.

Speaker 5 (25:14):
If all of the companies in my portfolio would drop
by fifty percent, I'd pay a great sum of money.
If all the all the things that I own would
drop by fifty percent, price go down by fifty percent.
Most people wouldn't be able to handle that. They'd freak out,
they'd let their emotions get the.

Speaker 4 (25:35):
Best of them.

Speaker 5 (25:36):
But he's confident in the companies that he owns, the
quality of the companies that he owns, and he's gonna say, oh, okay,
everything that I own, everything that I own, I'm going
to own more. I'm going to own more, and I'm
gonna be able to buy in at a lower price.
And it's funny because again, my brothers and I we

(25:57):
uh from We reminisce about, you know, market selloffs throughout
our history, market selloffs, whether it be the dot Com collapse,
whether it be the Great Recession, whether it be COVID,
and we said, wow, look at all those companies, Look
at how look at how inexpensive all of these great
companies were at that point in time. The market corrections,

(26:21):
the selloffs, you can do real, real well. And those
times going to take another quick break and we get back.
Last two things. Last two things that Buffet has taught
us should be teaching you. We're going to continue to
teach here on the program again. Wisdom of the ages.

(26:42):
That's why Buffett was successful. Talent successful, that's why worst successful.
Do things the right way again. Become a part of
our family at Markowski Investments, in the Watchdog on Wall
Street show. Get their watchdog on wallstreet dot com. That's
Watchdog on Wallstreet dot com. Or give us a call
eight hundred fore seven to one fifty nine.

Speaker 4 (27:01):
Eighty four.

Speaker 1 (27:16):
Taking Wall Streets Liars, crooks and sheets out behind the woodshed.
You're listening to the Watchdog on Wall Streets already.

Speaker 4 (27:28):
Yeah again.

Speaker 5 (27:29):
People are kind of surprised by it. You know, you
go on to Amazon, you could look up my book
Work Time and Effort. It's not an investment book. It's
not it's it's not what we did. It's a celebration.
Quite frankly, I am basically shining a light and honoring

(27:50):
clients and people I do business with. Basically it And
I explained this before. You're gonna go out there and
you can get you know, success worries books written about
Steve jobs Elon musk can Land going, and they're great books.

Speaker 4 (28:08):
But yes, do I do.

Speaker 5 (28:11):
We have some super wealthy people that we manage money
for at Markowski Investments, Yes we do. But the bulk,
the overwhelming majority of our clients are small business owners.
The people that make this country go, the people with

(28:33):
you in your community that own the small shops, the stores,
the businesses out there, and it's it's about them how
they built their business, how they did it over time,
through work, time and effort. And again it's it's small
business month. It's May again, like I said, declared and

(28:54):
decreed that May is small business month, and well every
month should be small business month. We've got a lot
of days out there. We don't have an entrepreneur's day.
The people that go out there and take a risk
many times, failing many times, failing several times before they
actually get it right. And people fail to realize that's
that's what's so great about this country. You can fail.

(29:17):
You can fail because we're all gonna fail. We're all
gonna we're gonna fail and a myriad of different things. Okay,
we're gonna fail all the time. We are broken human beings.
But you pick yourself up, you learn, and you move
on anyway. Two more things, two more things. Simple things

(29:40):
again in regards to our process at Markowski Investments, real
simple here. You need need to be patient and you
need to have courage. It's not it's not important, not
important to be right in the here and now, but

(30:02):
right eventually. Yeah, again, you go back go to our website.
I've archived my essays and my columns go back to
the nineteen nineties when we called Enron.

Speaker 4 (30:14):
We called Enron, we said it was going to collapse.
We were year early. We were a year early. And
I've been making.

Speaker 5 (30:22):
Fun Yeah, Markusk, know what the hell he's talking about.

Speaker 4 (30:25):
I said, okay, all right, crash bang boom.

Speaker 5 (30:32):
Many times, what conventional wisdom says, the greatest idea or
greatest investment at today, more often than not, can be
a lousy investment or idea. Markets are not efficient over
the short term. Again, so you have to be patient.
You must be patient. And being patient, you got to

(30:54):
stand in the face the chattering classes, meaning what you
need to have courage. Sometimes things are not going to
go your way. You need to stand in the face
of the chattering classes, the pundits.

Speaker 4 (31:07):
Don't act out of fear, don't make poor choices.

Speaker 5 (31:12):
Courage involves suroh in consideration of all the facts, keep
emotion out of the decision making process. You do that,
you're going to compound a lot of things in life.
It's applicable to everything. Watchdog on Wallstreet dot com. Watchdog

(31:32):
on Wallstreet dot Com again, become a part of our family.

Speaker 4 (31:35):
The Watchdog on Wall Street. Family. Give us a call
as well.

Speaker 5 (31:38):
Eight hundred and four to seven eighty four will be back.

Speaker 1 (31:43):
You're listening to the Watchdog on Wall Street. This is
the Watchdog on Wall Street.

Speaker 4 (32:12):
Back everybody.

Speaker 5 (32:13):
It is the Watchdog on Wall Street, chugging on her mind.

Speaker 4 (32:17):
Everybody.

Speaker 5 (32:19):
Everyone is welcome at Markowski Investments. There's no velvet rope
at the door. We don't do the minimum nonsense. I've
told this story countless times. First first started, first started.
Maybe I'll write a book about my history on Wall
Street and all the stuff that I learned.

Speaker 4 (32:37):
Again that's the stories, Oh my lord. Anyway, yeah, yeah, you.

Speaker 5 (32:41):
Know again, I'm from upstate New York. Go to college,
do all the work, put it in, go in, get
a job in New York City. Procession happening at the time,
working my tail off, working at a big firm. And
you know, nope, we don't. We don't accept people. We
don't help people out. Must they have a certain amount
of money. And that was off putting to me based

(33:04):
upon my background. Again, I'm one of those people that
something doesn't sit well. Somebody will say something it doesn't
sit well. With me, doesn't set with my values. It
throws me off, just does. And I'm saying as all,
well know, why wouldn't you want to help people out
that want to become wealthy? Why don't you teach them?
Isn't that a great idea? And again, I you know,

(33:25):
I'm like the person raising my hand. I'm like Todd
Baskin there in big I don't get it. I don't
get it. And then you just get shot down by
these people. Now we don't want those and they go
off on them. We don't want those pikers say these
all sorts of derogatory terms. People that weren't super rich,
didn't have, you know, a few million dollars to send in.

(33:45):
I'm just like again, didn't sit well with me. And
again kind of led you know, certain things that you
learn and picked up on to point you in a
direction of what you want to do in life. And
we always said it, Markowski Investments, we were going to
help everyone out. And like I said, it's you know,
it's fantastic.

Speaker 4 (34:03):
Huh. You know, we're not complaining. We're not complaining.

Speaker 5 (34:06):
In someone sends in a twenty million dollar account, Okay,
that's that's all.

Speaker 4 (34:10):
Well, and good.

Speaker 5 (34:11):
Okay, but that's much easier, be quite honest with you
managing that family's money.

Speaker 4 (34:19):
I like the challenge. I like the challenge of watching people.

Speaker 5 (34:22):
I like watching people develop and build wealth. That's what's
really exciting. That's what's a lot of fun. And see
what happens to these families after a five, ten, twenty
thirty year period of time. That's priceless to us. And
this is why everyone's welcome and sign up. Get to

(34:45):
our site, our personal CFO programs right there at Watchdog
and Wall street dot com again learn more about us.
Get there, read my columns, get our podcast, all sorts
of great stuff. I want to touch on this. I
want to touch on this. It's funny Ken Griffin. Ken
Griffin is one of the shark, the ultimate shark.

Speaker 4 (35:08):
I got to handle the guy.

Speaker 5 (35:11):
He understood that, you know, the markets were going to
super high frequency trading. He set up Citadel properly to
take advantage of all the trading that takes place, all
of the computerized trading, and he makes a fortune on it.

(35:32):
But it was funny. It was funny, and I didn't
say I didn't know Ken. Back in the nineteen nineties
on Wall Street. I didn't even know he used to
be an analyst, quite frankly, but he was being interviewed
this past week and he was basically, he sounded like,
say the exact same thing we were saying here on
the program. What it was like to analyze companies and

(35:52):
businesses back in the nineteen nineties. So you take a
look at a prospectus and you'd say to yourself, wait
a second, this company's going to go out of business
in six months, eight months, ten months, a year if
they don't get more capital. I don't see how this
company is going to even be feasible. He's being interviewed
to say the.

Speaker 4 (36:10):
Exact same thing I did.

Speaker 5 (36:13):
And again, yeah, it was different back at that point
in time because these companies were already public and then
they had to go again. They had to also go
get into the public again and do another rounds of financing.
How things are done today, and quite frankly, in my opinion,
it makes things more fragile, not less fragile. Is that

(36:39):
you see companies that are put in essence life support
over an extended period of time because they're owned by
private equity, venture capital, and they go out and they
continue to do rounds and rounds and rounds of financing
for these companies to keep them afloat, because to them,
the dream is is finding a sucker, finding a sucker

(37:04):
to buy this thing at a ridiculous price. And this
is why they're in trouble right now, many private equity
companies and venture capital companies right now because what's going on.
They can't sell all of these companies that they've laddered up,
and they want to get out.

Speaker 4 (37:19):
They want to free up capital.

Speaker 5 (37:21):
Back in the nineteen nineties, you talk about the whole
dot com run up, companies would go public very quickly,
and you had to, you know, you had to figure
out whether or not you were gonna make it or not,
very very quickly, very very quickly. It wasn't done like
it's done now over a ten year period of time.
But I did find that interesting. This I don't find interesting.

(37:42):
This I find sick. Okay, I'm covering this. We usually
do the kind of rip offs and scams. This part
of the show. Gucci right now, Yeah, Gucci the retailer.
They are now taking a firm, you know, firm, the
buy now, pay later payment service. Back in the nineteen

(38:06):
seventy it was called layaway. Okay, lay away. You wouldn't
take the product home. You would put it on layaway.
If you couldn't afford it, you'd pay for part of it.
The store would actually keep it, and then once you
eventually paid it off, you could take it home. Our
firm is a buy now, pay later thing that is
getting lots and lots of people into trouble. Okay, yeah,

(38:31):
I don't want to. If you can't afford you can't
afford a Gucci belt, pair of shoes, or a pocketbook,
that's okay, that's okay. That doesn't make you a bad person.
I couldn't afford it when I was younger either, but
I didn't buy it.

Speaker 4 (38:54):
I freaked my kids out.

Speaker 5 (38:55):
Sometimes I'm like, guys, you know I was buying second
hand suits when I first started on Wall Street.

Speaker 4 (39:02):
Yeah.

Speaker 5 (39:04):
Now, no, if you can't afford it, you don't buy it.
You don't use a firm. You don't do buy now,
pay later. Okay, You wait until you build up enough
wealth so then you can truly enjoy your Gucci pocketbooker
shoes or belt. Just saying watchdog on Wallstreet dot com,

(39:26):
watchdog on Wallstreet dot com, We'll be back.

Speaker 1 (39:30):
Chris Markowski is the watchdog on Wall streets. Well, no
one altered investment baker from Summer Advocate, Analyst trainer, Chris Morkowski,

(39:53):
He's the watch dog on Wall Street. Do you want
to answer exposing the lines and myths that the big
brokerage firms, the mainstream press, and the government are pushing
to keep Americans away from financial freedom. You can't handle
the truth bringing America the truth about what really happens
in the financial world.

Speaker 3 (40:14):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.

Speaker 2 (40:19):
This is the watchdog on Wall streets.

Speaker 4 (40:23):
So Warren Buffett was.

Speaker 5 (40:26):
He was asked about tariffs last weekend and he's what
he had to say. Said, trade should not be a weapon.
It's a big mistake in my view, when you have
seven point five billion people who don't like you very well,
and you have three hundred million who are crowing about
how they have done, we should be looking to trade

(40:50):
with the rest of the world. They also got into
the fact how it's again it's great foreign policy and
it helps to keep people from one another anyway. Yes,
we got to get into domestic policy.

Speaker 4 (41:06):
Issues.

Speaker 5 (41:07):
We're going to talk about tariff's, trade, the economy, and
everything that I see moving forward.

Speaker 4 (41:15):
I did a podcast on it this past week and.

Speaker 5 (41:17):
I brought up a horror It was made for TV,
made for TV, but it was one of two, one
of two horror movies in my life. I can't think
of any others that actually gave me nightmares, the Exorcist
being one and this one. It came out in the

(41:38):
mid nineteen seventies. It was called the Trilogy of Terror.
The first two stories I can't remember. It was three
different horror stories. But the third one, and again I
think about it instantly, I visualize that doll. It basically
is this voodoo doll that's got this and if the

(42:02):
chain comes off, then the evil spirit comes alive and
the dolls got this wicked teeth and it's trying to
kill this lid. It's you have to say, it was
frightening to me. And again, I don't like dolls anyway.
It's one of the things that my kids picked up
on that years and years and years ago when they
were young, and when I was away from my office,
they would sneak into my office and my daughter would

(42:24):
hide dolls everywhere in my office to spook me.

Speaker 4 (42:26):
I kid, you're not.

Speaker 5 (42:27):
But anyway, Trilogy of Teriff Terror first and foremost. Okay,
if you disagree with what I have to say here
on the program, there's no problem with that. There's a
thing about debates and arguments you shouldn't try. It's a

(42:51):
bit of advice for everybody out there. You shouldn't try
in life. You shouldn't try to win arguments. You're not
trying to win an argument. What you're trying to do
is you're trying to win truth. You're trying to obtain truth,
much like the scientific method.

Speaker 4 (43:11):
What's the scientific method again, you're trying.

Speaker 5 (43:13):
To disprove is what you're trying to trying to disprove
a theory. That's how it works. Okay. It's not about
trying to win an argument. Okay, it's not a bloody
rap battle. You're trying to get to some sort of truth.
The the amount of nonsense, okay, that we're seeing right

(43:43):
now from the pundits, the bs that's out there, it's
it's a sewer, it really is. It's a sewer, and
unfortunately it's how a lot of the media works nowadays.
Give me an example, I get emails from certain people.

Speaker 4 (44:03):
Crystal, we're looking at his article. This guy was pro tariff.

Speaker 5 (44:07):
And then I take a look at the column and
it's on this publication, that publication, and I look at
the author of the column, and the author of the
column or article works for some sort of obscure quote
end quote think tank, which is paid for by a
political party, and they're paid to have a certain point
of view. They're paid to put out a certain type

(44:30):
of nonsense. That's what our media has become. That's what
discourse has become. It's become a sewer. It's pay for play.
These various different pundits out there will actually pay to
have their columns on air. I listen, I can make
this radio show a profit center for Markowski Investments. We

(44:54):
could be making a fortune here if I actually had
people on. People they want to pay me to come
on the program to sell their ideas, which I know
are bunk. That's that's not what we do. People paying
for exposure. That's not what we do here on the program.
But anyway, anyway, let's go through some of the stories,

(45:16):
just some of the stories from this past week of
my latest one. I just saw a jewelry company Pandora. Yep,
our prices are gonna have to go way up because
of tariff's. Mattel, the toy making company CEO. No, we're
not moving any manufacturing to the United States. That's just
not feasible. We're gonna have to raise our prices. To

(45:39):
raise our prices, but we're going to continue. We're going
to continue to design products in the United States. We're
going to continue the whole creative process in the United States.
Ford Ford had to suspend its twenty twenty five guidance.
They're expecting a two point five billion dollar hit due

(46:03):
to tariffs. Taking a look at the traffic at ports,
nearly all US exports are getting hit.

Speaker 4 (46:15):
The what's happening.

Speaker 5 (46:16):
You get the trade Tracker vision out there and it's
looking at numbers that we've had during twenty twenty during COVID.
Apple won't be able to avoid price hikes for long oil.
One of the reasons why the price of oil has
dropped is because the global economy is slowing. They're predicting

(46:38):
a recession, so the price of oil has come down.
Now again, what happens People like this is great, Gasoline's
gotta be cheaper things gonna be okay, And I agree
you want that to be down, but you want oil
to come down based upon supply and increase supply. But
what you're seeing right now is our our shale producers,

(47:02):
Diamondback and others are saying, no, we're not going to
go out there and produce anymore. It's not worth our
while to do so. And again you've also got Opek
which is umping the ante as well. Interesting story Delta.
Delta ordered a bunch of Airbus airplanes. They found a
neat way around tariffs they did. They decided to use

(47:25):
those airplanes airbuses made in Europe, use them and go
from Europe to Japan. Now, once they use the airplanes
to go from Europe to Japan, the airplane is classified
as used. Then they bring it back to the country,
the United States without having to pay the tariffs. And
those other ones as well. You know, you got certain
steel companies that are thrilled with the tariffs on steel,

(47:48):
but they're not happy on other tariffs because they have
to import iron ore from Brazil or Trinidad. And I
can go on and on and on, and I can
give you a stack of story when it comes to
small businesses around the country that have reached out. Hey,
you could see the stories of pay attention, you know,
having to shut down. I'm gonna have to close up

(48:10):
my shop. I can't afford to do business anymore.

Speaker 4 (48:16):
Problem.

Speaker 5 (48:18):
Problem, it's none of none of this, none of this
is any good. Donald Trump Donald Trump UH being interviewed twice,
he talked about the UH talk about dolls there, and
he's got a little this you know idea here that
you know, well, you know what, you're not going to
have as many dolls, You're going to just to have

(48:41):
fewer dolls and fewer pencils. Then, my friends, it's it's
a I'd almost call it a neo Marxist idea. That's
it sounds I'm sorry, it sounds like something Jimmy Carter
might have said during his Malis speech. Listen, this, this

(49:04):
is not going to win Americans over, now.

Speaker 4 (49:11):
I get it.

Speaker 5 (49:11):
Presidents want to tell voters to tighten their belts or
go on, you know, scrap metal drives because of war,
whatever it may be. But again, this, this is not
going to sit well with people. Americans are not used
to hearing their president basically scold them for being too materialistic. Listen,

(49:37):
there's a reason why so many people want to come
here to the United States. There's a reason why people
want to come across our borders. They want they want
their kids to have more, they want to do well.
Not a good idea, telling people just how wasteful they are.

Speaker 4 (49:57):
And what was.

Speaker 5 (49:58):
Fascinating as well I could. I'm not making this up.
You don't believe me.

Speaker 4 (50:02):
Look it up. You had the chief sustainability.

Speaker 5 (50:07):
Officer at Berkeley University of California, Berkeley ten an editorial
in the Wall Street Journal basically calling Trump's tariffs a
victory because people are not going to be buying as
much and spending as much money, and that's good for
the environment. You talk about strange bedfellows right there, far

(50:32):
left meet Trump tariffs state they happen to like it. Again,
it's a bit of a neo Marxist idea. Now again, Okay,
I'm going to tell you what I think is taking
place in the here and now. Okay, I Scott pssent

(50:52):
meeting with China. We've had meetings with other countries. Okay, again, listen, Okay,
I have my sources. Okay, your if your sources are various,
different pundits on social media or Fox News or other
places out there.

Speaker 4 (51:12):
You don't know what's really going on.

Speaker 5 (51:16):
You don't the tariff plan and it's I'm sorry people,
it's not It's not three D six dy ten D
five D chess. Okay, it was a disastered. Liberation Day
didn't go over well. It didn't go over well. We
talked about the ridiculous formula that was put out. They

(51:39):
tried something and it didn't work. It didn't work. Now, I,
like I said, we talked about risk leading to ruin. Okay,
I would never in a million years would.

Speaker 4 (51:53):
Have ever done.

Speaker 5 (51:54):
And I don't have any problem with reciprocal tariffs and
fair trade. For years and years and years before Donald Trump,
we talked about trade. Here on the program, I went
after ridiculous trade deals. I said here on the program,
why do trade deals have to be thousands and thousands
of pages long? It's you know why the thousands of

(52:18):
pages long is because we have protected interests here in
this country that are able to get carve outs in giveaways.

Speaker 4 (52:26):
Trade deals should be like this.

Speaker 5 (52:28):
I'm not gonna put tariffs on you. You're not gonna
put tariffs on me. Let's just do business. That's how
they should be done. They should be done on a page.
So when I made fun of that Trans Pacific Partnership
trade deal that they wouldn't even let you read. They
kept it in a room and you couldn't even take notes,
you couldn't even bring a pencil in there, I said,
this is this is ridiculous.

Speaker 4 (52:47):
This is for oligarchs.

Speaker 5 (52:48):
This is not fair, and it's in our country and
it's other countries too.

Speaker 4 (52:53):
And what have we been seeing.

Speaker 5 (52:56):
We're seeing meetings in the White House with certain businesses,
certain corporations that are able.

Speaker 4 (53:02):
To get.

Speaker 5 (53:04):
Carve outs and deals. The mom and pop shop they
don't get those deals. It's not right, it's not fair.
And this is where we're at today. Okay, the trade deal.
Liberation Day didn't go overwell, didn't go over well. And

(53:27):
they're walking it back. They're walking it back little by little,
God willing, God willing. I'm hoping and praying that we
get some things done. And you should be too, Okay

(53:47):
for all of the small business owners out there, all
the old little guys out there that might have to
shut down because of this, we should hope that we
get something done.

Speaker 4 (54:02):
And I know this that the argument's I'm gonna get
the email. I gotta bring manufacturing back in the United States.

Speaker 5 (54:07):
Listen, I want to bring manufacturing back here to the
United States. And there's a way of bringing manufacturing back
here to the United States. But do you understand that
we have thousands, thousands and thousands of manufacturing jobs that
are open, unfilled in the United States today. We can't
fill those jobs right now, can't fill them. Inquire about

(54:35):
the Hyundai plant outside of Atlanta. They can't find enough workers.
You can't do things.

Speaker 4 (54:46):
Overnight. Okay.

Speaker 5 (54:47):
You could talk about, Oh, China join the World Trade
Organization and look what happened over a period of time.
You cannot reverse thirty years of trade policy in a
liberation day. You have to fundamentally change the way we're
doing things here in this country, in the way that
we're educating kids and getting kids prepared for these jobs

(55:11):
we've talked about here on the program. The workers that
we need to build ships and summarings, we don't have them.
For quite out loud, you can make one hundred and
sixty thousand dollars a year as an air traffic controller
and we can't find them.

Speaker 4 (55:28):
These are things.

Speaker 5 (55:29):
That are going to take time, and we need to
be taking steps in that direction. It's not that we
don't need tariffs and we need to change our trade policies,
it's the execution. Going to talk a little bit more
about this when we get back, and again I'm going

(55:51):
to talk about what took place in the month of
April that scared the crap out of me. Watchdog on
Wallstreet dot Com. Watchdog on Wallstreet dot Com again. Become
a part of our family at Markowski Investments in the
Watchdog on Wall Street Radio show. Sign up for our
personal CFO program, our podcast, All sorts of great stuff,

(56:12):
Watchdog on Wallstreet dot Com.

Speaker 4 (56:14):
We'll be back.

Speaker 1 (56:16):
The only man who is taking on the Wall Street establishments.
You're listening to The Watchdog on Wall Street with Chris Markowski.

Speaker 5 (56:41):
I've over the years, you know, columns that I write,
you know, I like to bring in mythology, stories, pop culture,
various different things to kind of explain my thought process.
It's kind of some of the brilliant of you know,
old stories and mythology. They're trying to teach something and

(57:01):
I've I use the story of Sisyphis, you know, pushing
guys condemned in Hades to push a.

Speaker 4 (57:10):
Rock to the top of a hill for eternity.

Speaker 5 (57:13):
As soon as he gets it to the top, it
rolls right back down on top of him, back to
the bottom of the hill. And the whole story is
Sisyphis and how he got condemned to do that. It's
kind of interesting, but I use Sisyphis's story to kind
of explain my plate and how I feel and what
we do here on this program. Some people can they

(57:36):
can just put things out of their mind and not
let it bother them. They can, you know, basically, but
you know, say love, that's their fault. They're not going
to listen. I can't do that. It'll it'll sit there.
I don't know what it is. It'll bother me. Okay,
if someone contacts us and you know, ask me about
a certain investment or certain whatever it may be, and

(57:57):
I'm warning them it's going to be a disaster and
they don't listen, it bothers me.

Speaker 4 (58:03):
I feel like I failed.

Speaker 5 (58:04):
I didn't convince them. We've been able to call things again.
People have been listening to this program again twenty five years.
Even further than that. All of the calamities and things
that we have seen. We're seeing a lot, and certain
things will worry me, and there's certain points of time

(58:26):
where I'd be like, Okay, I'm kind of frightened about
what might happen and how this is going to affect
people here in the United States. Yeah, I care. I
care about you, care about my clients, that care about
my listener, care about the country. It was a great
column written this past week. Guy by the name of
Ben Hunt. He runs an advisor group, kind of like

(58:51):
an elite advisor group, and it's called Epsilon Theory, and
he uses a lot of pop culture like I do
in his column as well. And in this one title
the column is a true enemy has yet to reveal
himself And that's a line from Godfather three. It was

(59:13):
Michael Corleone his realization that there is a deeper problem.
Now I knew, I knew something was something was not
right with the financial system that was happening in this
country late two thousand and six into early two thousand

(59:36):
and seven. Once once, and I remember exactly where I was,
where I was sitting in my car. We're being interviewed
at CBS the Gandy Bridge in Tampa, Florida. When I
found out that the two bear Sterns funds went Hedge
Funds went out of business. I said, oh, something wicked
this way comes. Now, what does this have to do

(59:59):
with tariffs and where we're at today. Well, we'll get
into that when we get back. Watchdog on Wallstreet dot Com.
Watchdog on Wallstreet dot Com again become a part of
our family to Markowski Investments Family, Personal CFO program podcast,
We'll be back.

Speaker 1 (01:00:17):
You're listening to the Watchdog on Wall Street.

Speaker 2 (01:00:38):
You should believe in math, not magic.

Speaker 1 (01:00:41):
You're listening to the Watchdog on Wall Street with Chris Markowski.

Speaker 5 (01:00:47):
Our true enemy has yet to reveal himself. Okay, we're
going back to two thousand and summer two thousand and
seven to Bearstern Funds blow up. Remember Anthony Mozillo and
country wide. Oh we got problems here. And if you
go back, you go back and you take a look.

(01:01:09):
At that point in time, the news media barely any coverage,
barely any coverage at all. I knew things were going nuts,
and I knew things were going to be a disaster.
I was living in Southwest Florida, and I watched people
go out and unload their four to one case paying taxes,

(01:01:32):
paying taxes so they could go out and buy themselves
two three pre construction condos in the hopes that they
were going to flip it and warning people. Yeah, I
mean people brag into me, Oh Chris, yeah, I control
how many millions of dollars in real estate? And I'm like,
it's not going to be worth that. I'm thinking to myself,

(01:01:53):
and I'm trying to explain them. You have to be careful.
You don't understand what's going to happen. These rates are
going to adju just one thing after another. And again
it ate at me, ate at me because people wouldn't
listen and then crash, bang boom, people losing their homes
having a short sale.

Speaker 4 (01:02:14):
It was.

Speaker 5 (01:02:14):
It was an absolute disaster, disaster for a lot of people.
And it was quite frustrating for me because we knew
and we tried to warn people.

Speaker 4 (01:02:24):
But what did Ben Bernanke say, Oh, it's it a
housing market is rock solid. He didn't even get it.
What scared me? What scared me?

Speaker 5 (01:02:37):
And again I got a lot of emails from people
listening to the program, listening to the podcast Ruts.

Speaker 4 (01:02:42):
You know you can say, don't freak out about the
stock market. You're freaking out.

Speaker 5 (01:02:46):
I said, you're not listening. Okay, I'm not freaking out
about the stock. My stock market will take care of itself.
The day after Liberation Day, I said, busyusiness will find
a way. These big businesses will find a way. They'll
find a way around. They'll get carve outs that they

(01:03:07):
will get giveaways. Small business won't. The little guy won't.
The little guy is gonna get trampled, is gonna get
crushed because of this. And then it got more frightening,
It got more frightening. And again, unfortunately, unfortunately, most people

(01:03:29):
don't understand what happened in the bond market. Two thousand
and eight, we had the over financialization of the US
residential mortgage market. Okay, that's that was the issue. That
was the problem. Right now, it's the US treasury market.

(01:03:55):
When you saw and again most people didn't even realize.
This scared the crap out of me. Even the people
on CNBC I could see it, and they tried to
tamp and I mean focals. They tried to basically temper
what they were saying. Okay, when you have a flash

(01:04:15):
crash in the ten year treasury, thirty year treasury.

Speaker 4 (01:04:22):
It's a very big deal.

Speaker 5 (01:04:25):
Ten year treasury going from three point nine to four
point five, six, thirty year going from four point three
to four point nine to seven.

Speaker 4 (01:04:34):
Oh, no big deal, no big whoop. Yes, it is.

Speaker 5 (01:04:40):
Sixty five basis points. And let's you talk about the
US dollar, okay, and what has happened to that? Do
you understand that if it gotten worse? What could have
happened if Donald Trump didn't fold?

Speaker 4 (01:05:01):
Because he did?

Speaker 5 (01:05:02):
Okay, I know, yeah, people don't like hearing this because
he's their guy. When I say anything bad about Donald Trump,
I remind it. But I voted for him twice, Okay,
voted for him twice. That doesn't make him omnipotent. Just
because your voted for him doesn't make every single thing
that he does right. What he did was wrong, and
they're trying to walk it back. Now you count or

(01:05:24):
anything that the guy does for crying out loud and
people think like I'm making fun.

Speaker 4 (01:05:28):
Of their dog or their child or something like that.

Speaker 5 (01:05:32):
You're not supposed to have a crash in bonds like that.
That happened again, if you had another week of like
a sixty five seventy basis.

Speaker 4 (01:05:43):
Point move, do you understand that everything.

Speaker 5 (01:05:49):
The global financial system would have broke. Hunt writes about this.
Every insure would be in regulatory forebearans and would need
to raise capital.

Speaker 4 (01:06:01):
So would most banks.

Speaker 5 (01:06:04):
The dollar would have crashed even more, stock markets would
have crashed, Lending and credit would have come to a halt.
The Fed would have had to do what is called
as yield curve control, where they would have to go
out and buy and force US banks to buy ten

(01:06:24):
and thirty year treasuries in order to keep the value
propped up and the interest rates down.

Speaker 4 (01:06:30):
And it would work for a little while, for a
little while.

Speaker 5 (01:06:36):
But then it wouldn't. And how much money would they
have to print? We're talking Weimar type money. Okay, this
is what scared me. This is what they've been trying
to walk back little by little.

Speaker 4 (01:06:52):
This is what Bessent was doing.

Speaker 5 (01:06:53):
It's they found out Bessent in an end around Navarro
god In and met with the president. You remember the
President came out ah bomb markets, getting a little yippie yay.
You don't say, remember what I said? You cannot let
risk lead to ruin. Do you understand the position that

(01:07:19):
we are in globally? We are the world's reserve. The
dollars the world's reserve currency. We can just borrow and
borrow and borrow. We're thirty six trillion dollars in debt.
We're only thirty six trillion dollars in debt because we're

(01:07:40):
the world's reserve currency. You don't want to lose that.
Have to take a break. Watchdog on Wallstreet dot Com
Watchdog on Wallstreet dot Com again become part of the
Watchdog and Wall Street Family personal CFO program podcast you
name it, Watchdog on Wallstreet dot Com, Sweet.

Speaker 1 (01:08:11):
M bringing America financial freedom one listener at a time.
You're listening to the Watchdog on Wall Street with Chris Markowski.

Speaker 4 (01:08:27):
Great song anyway, welcome back.

Speaker 5 (01:08:31):
One of the one of the things I try to
instill in my children. I try to instill in the
kids that I mentor kids that I coach, the interns
that work for us, the importance of one's reputation. One's reputation.

(01:08:53):
You don't want to ruin that their belief in you.
The word credit word credit comes from the Latin word credire,
which means to believe, to believe. We have talked about,
talked about America's fiscal situation at great length. Not just me,

(01:09:16):
You've had You've actually had military brass over the years.
Come out, admit our country's biggest national security threat. Nope,
it's not the border. Nope, it's not trade. It's it's
our debt. It's our debt and our deficits and our spending.

(01:09:37):
That that's our biggest issue. We do not want to
be seen. We have gotten become the United States of America.
We have a reputation. You don't want to ruin that reputation.
Some people have made the argument, I've actually even debated
on this and the fact that we're at the point

(01:09:59):
in time where our bond market is so large, it's
so big that we're almost too big to fail. Now
we can think that we're too big to fail and
we can do whatever in God's creation we want to do.

Speaker 4 (01:10:13):
But why would you mess with that? Why would you
deal with that?

Speaker 5 (01:10:18):
We've got this, you know, talking about the conversations that
are being had with the big beautiful bill that's under
conversation right now. Yeah, they want to raise the debt
ceiling another five trillion dollars. I want tax cuts, but

(01:10:39):
quite frankly, what I want even more is fiscal prudence,
quite frankly, and we need to get to that when
we're messing around with trade and we have movements in
the bond market like we saw, and we're also dealing
with a situation when we're thirty six trillion dollars in debt. Again,

(01:11:03):
this is our true enemy. Gotta take another quick break.
Don't go anywhere. Watch Dog on Wall Street to come,
Watchdog on Wallstreet dot Com again. Become a part of
our family. To Markowski Investments family, don't go anywhere.

Speaker 4 (01:11:16):
We'll be back.

Speaker 1 (01:11:20):
Chris Markowski is the Watchdog on Wall Street. Tiki Wall

(01:11:40):
Streets liars, drooks and cheets out behind the woodshed. You're
listening to the Watchdog on Wall Street.

Speaker 5 (01:11:51):
Welcome back, everybody, Yeah, I listen, okay.

Speaker 4 (01:11:56):
I was.

Speaker 5 (01:11:58):
Trying to remember the year I had to be. I
think it was nineteen ninety six. From ninety six ninety seven,
I went to the Donald Trump Due Diligence meeting for
his Atlantic City casinos where he took a public The
symbol was d j T and I you know, I

(01:12:22):
went to a lot of due diligence meetings investment banking
back in the day, and I never saw anything like
this in my entire life. It was like the uh
it was like the beginning of a boxing or wrestling match.
I mean it had lights at a stage.

Speaker 4 (01:12:37):
And mails and dollar Donald day.

Speaker 5 (01:12:39):
Drum comes out and talks about his casinos in Atlantic City. That, well,
we don't know what happened. Then what's fine. Listen, you
can fail in this country, Okay, try things. You can fail. However, Okay,
Donald Trump understood that he got these banks to lend

(01:13:01):
him so much money that he in essence almost owned
the banks, and he forced these banks all sorts of
cram downs in these bond deals. Now again people say, well,
he's smart. Look at what he did. I was brilliant
move all this stuff. That's that's for him. Okay, those

(01:13:22):
are casinos in Atlantic City. And if it didn't work out, okay,
he would bear that pain. These things don't work out, okay.
And again, you can't go forcing cram downs down the
road on our debt on the globe. You just can't

(01:13:44):
do it, you know, Hunt writes It says, the true
enemy is uncompensated risk. Uncompensated risk in the risk free securities.

Speaker 4 (01:13:57):
Risk fresecurities.

Speaker 5 (01:13:58):
That's our debt, US bonds they have been financialized, they've
been levered across every part of the global economic system,
uncompensated risk that comes for a diminishment of the full
faith and credit of the United States. What we have

(01:14:20):
to do, what we have to maintain. What as I
talk about all the time, Like I said, I just
told you last segment, what you should be teaching your
kids our reputation to restore the trust in full faith
and credit of the United States. Okay, I'm sorry the

(01:14:40):
way that the President has acted over the course of April,
and hopefully he's walking it back. We're acting a bit
like an unreliable business partner, an unreliable nation. And again,
need to underst stand where we are. They say on

(01:15:02):
top of the world. Okay, we're on top of the
world and nobody's even close. Why would you risk that?
It doesn't make any sense anyway, anyway, moving on, moving on.

Speaker 4 (01:15:17):
Again.

Speaker 5 (01:15:18):
I talked about again we need to and I said,
we need to fix global trade. We also need to
fix what we've been doing in this country for a
very long period of time when it comes to education
and what we've been doing and promising kids.

Speaker 4 (01:15:35):
Go to college.

Speaker 5 (01:15:36):
Sure, go to college, doesn't matter if you're a C student,
B student.

Speaker 4 (01:15:41):
Astaday you. Everybody goes everybody.

Speaker 5 (01:15:43):
Goes to college. These numbers, I was blown away. These
are the numbers right now. These are unemployment numbers here
in this country. This is from the Bureau of Labor Statistics.
This is unemployment for people in their twenties. Okay, people
in their twenties. If you went, if you got a

(01:16:06):
four year degree, four year degree, fifteen point three percent unemployment.
If you have a grad degree, you have a high
grad school, college, you know, a higher level eight point
four percent unemployment for advanced degree recipients. I don't know

(01:16:28):
what the unemployment rate is for kids that only went
to community college or vocational school.

Speaker 4 (01:16:36):
Two point one percent. I'm not making this up.

Speaker 5 (01:16:42):
You got a better chance, you have a better chance
of finding a job if you went to community college
or vocational school.

Speaker 4 (01:16:50):
Then you did unless you went to grad school. And
what have we done.

Speaker 5 (01:16:56):
We have subsidized, we have pushed kids and this direction.
We've given them loans through the federal government, through that
stupid Obamacare program where we decided to take over student
loans and hand out hundreds and thousands of dollars to
kids in their twenties to get degrees in nonsense where

(01:17:18):
they cannot find a job. We have to train the
workforce for the future, and we need to start now.
It starts in the eighth grade. That's where it really
needs to start. He talk about right now they need

(01:17:40):
thousands of air traffic controllers.

Speaker 4 (01:17:44):
Within three years.

Speaker 5 (01:17:45):
You're making one hundred and sixty thousand dollars a year.
You mean to tell me we can't. We can't can't
convince kids say hey, listen, okay, we're gonna get you
on a program here.

Speaker 4 (01:17:59):
Before you're twenty one years old.

Speaker 5 (01:18:00):
You're gonna be making over one hundred thousand dollars a year,
and you're not gonna have any student loan debt.

Speaker 4 (01:18:05):
You're not gonna put mom or dad out or bring
it back.

Speaker 5 (01:18:10):
Shop class and teaching kids how to build things, create things,
send them to work in shipyards where again six figure jobs.
These are the jobs of the future, but we need
to train the workforce for them. We have to stop

(01:18:30):
as a nation. Presidents do this all the time. Like
I said, things don't happen overnight. We are a massive economy.
We cannot put the cart before the horse. Gotta get
kids out of this ridiculous.

Speaker 4 (01:18:45):
Everybody's got to go.

Speaker 5 (01:18:46):
To college nonsense and get them jobs where they're going
to be making money, not putting themselves in debt. Watchdog
on Wallstreet dot com. Watchdog on Wall Street dot Com.

Speaker 4 (01:18:59):
We'll be back.

Speaker 1 (01:19:06):
You're listening to the Watchdog on Wall Street. Well known author,

(01:19:26):
investment banker, consumer advocate, analyst, trainer Chris Markowski is the
watchdog the Wall Street exposing the lines and myths that
the big brokerage firms, the mainstream press, and the government
are pushing to keep Americans away from financial freedom.

Speaker 4 (01:19:46):
You can't handle the true.

Speaker 1 (01:19:48):
Bringing America the truth about what really happens in the
financial world.

Speaker 3 (01:19:53):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.

Speaker 2 (01:19:57):
This is the Watchdog Wall St.

Speaker 4 (01:20:02):
I know what's gonna happen. What's gonna happen.

Speaker 5 (01:20:05):
People are gonna be like supposed to people listen to
the radio. That's the thing about the podcast, and we do.
We do post this up on our Spotify and Apple
and all of our podcast stuff out there. You can
always rewind. I'm gonna I'm gonna explain this to you again. Okay,
never never have we seen this. Okay, first and foremost,

(01:20:29):
college enrollment has been declining, and rightfully so, More kids,
more parents are starting to question the actual value of
a degree that quite frankly, quite frankly, you could start
a business with your kid, they could buy a home.
What do colleges and universities do they continue to raise tuition?

(01:20:50):
You know what they do too, is they add stupid
graduate programs. Why well, because guess what, the amount of
money that kids can get in government loans for grad
school is higher than you can get for under grad No,
let's not bear in mind you know what the the
outcomes are going to be.

Speaker 4 (01:21:11):
And again I've said this before.

Speaker 5 (01:21:13):
You know that we have the the FDA makes makes people,
what makes companies put the various different ingredients in food
and the nutritional what the calories are and the protein
and all that stuff. You know, student colleges and universities
basically have to say for every single degree program that

(01:21:33):
they offer, what you know, the percentage of kids that
are getting jobs after they get that degree, and what
they're getting paid. I mean, I think that's reasonable, don't you.
It's a reasonable request. Again, I'm going to repeat this, Okay,
the unemployment rate for kids in their twenties that have

(01:21:56):
a four year degree fifteen point three percent, kids in
their twenties with a grad school degree eight point four percent,
kids with a vocational school or community college degree two
point one percent. Get your arms around that. When Obama

(01:22:24):
decided to take over student loans, I knew this was
going to be an absolute disaster.

Speaker 4 (01:22:33):
It is one of the.

Speaker 5 (01:22:34):
Along with Obamacare. I can't tell you. I can't the
crap that Obama passed in his first two years and
what it has done to this country. I mean, if
you actually look at it within an objective point of view,
without politics, it was an absolute failure. Failure again all

(01:22:59):
present do it. I mean again, my favorite president, Ronald Reagan,
my lifetime favorite president, did things policy that didn't work out.
At least, I'm honest about it. Before even before the pandemic,
fewer than half of the borrowers were paying down their debt.

(01:23:19):
Do you understand that the federal student loan balance sheet
is now one point seven trillion dollars. That's double what
it was fifteen years ago. And if it wasn't for
some of the giveaways that Biden did, it'd be over
two trillion dollars.

Speaker 4 (01:23:40):
Yeah, anything I can think of. You know, I don't.
The President came out this past week.

Speaker 5 (01:23:45):
A lot of people, yeah, yeah, get Harvard, Get Harvard,
take away their tax exempt status.

Speaker 4 (01:23:51):
Listen, Okay, we said here, years and years and years.

Speaker 5 (01:23:55):
Ago, I said colleges and universities are hedge funds with
non profit status. First ones to say that. Discuss it
now everyone uses my lines. Okay, we've been talking about
that for a long time. And again you think about
what it's become now, a hedge fund. I mean, they

(01:24:17):
run professional sports teams. It's not college sports. College football
and college basketball are pro the the players get paid
millions of dollars to play. Fine, Fine, Okay, that's the
direction you want to go. Okay, you want to eliminate

(01:24:39):
the tax exempt status. You can't just make it for Harvard.
You're going to make it for more. You make it
for them all. Excuse me. My suggestion. My suggestion is
is that the taxes that you collect, the taxes that
you collect from these colleges and universities, I would use
it to start paying down the stud loan debt.

Speaker 4 (01:25:02):
That's what I would do. I mean, i'd start You're
gonna start doing that.

Speaker 5 (01:25:04):
I'm start paying using that those tax dollars, I'm start
paying down the student loan debt. Moving forward, and again, yeah,
you're gonna see colleges and universities go out of business.
But that's okay, that's okay. But you know that's they're
a part of the establishment. Okay, they're a part of
the establishment. You talk about no show jobs. Joe Biden

(01:25:26):
got paid as an adjunct professor at the University of Pennsylvania.

Speaker 4 (01:25:32):
He never taught class.

Speaker 5 (01:25:35):
It's a great way of you know, oh you know
Donna Shalelah up, look at that.

Speaker 4 (01:25:40):
All of a sudden, she's president of the University of Miami.

Speaker 5 (01:25:43):
I mean, they just they find landing spots at these
colleges and university They get jobs, Hillary Clinton teaching a
class at Columbia. They find ways other ways of getting
easy money, no show jobs. Yes, it has to be
cleaned up, absolutely, But again we have to come up

(01:26:04):
with something. I said, maybe use it to help pay
down some of this this you know, this one point
seven trillion dollars, rather than again going to the taxpayers
and trying to give handouts. Because again, people have to
start the kids are gonna start paying back. Now, they're
gonna start guard They're gonna start garnishing people's paychecks. Now
it's gonna get ugly. Anyway, moving on, I have to

(01:26:28):
I have to address this because we're seeing more and
more of this.

Speaker 4 (01:26:34):
I've talked about certain investment.

Speaker 5 (01:26:37):
Vehicles over the years here and I warned people, warn people,
they have many investment of vehicles that back in the day.

Speaker 4 (01:26:48):
Back in the day, again, they were a lot more.

Speaker 5 (01:26:51):
Strict when it came to who could invest, and there
was this push to demock they call it democratizing hedge
fund and private equity and certain investments out there, and
more often than not, what I find out is that
people are not reading the fine print. And mister Markowski,

(01:27:13):
I can't get out of this hedge fund I got
myself involved with. I'm like, no, you can't. You can't
because you signed off on it. And again, listen, many
I've described many hedge funds and many alternative investment vehicles

(01:27:34):
as almost like they call my hotel California. Could check
in any time you like, but you can never leave.
It's not that you can never leave, but these funds
have a lot of ill liquid investments in them, meaning
they can't just have people sell whatever they want because
they have to find a buyer. Like I said, talking
about investment, there's a buyer and there's a seller. It's

(01:27:56):
not a casino chip. And if you're not ready or
you're not willing to, you know, understand the rules and
have to hold for a certain period of time or
understand how withdrawals can be made.

Speaker 4 (01:28:12):
You can be caught behind April.

Speaker 5 (01:28:14):
Okay, these are investment vehicles that you need to be
understanding that you're putting away and almost consider them ill
liquid for a period of time. Please be careful, please
read the fine print. But again, also we're here to
help and get to our website at Watchdog on Wall
Street dot com, sign up for a personal CFO program,

(01:28:36):
get in contact with us. Will help you out anyway. Anyway,
I mentioned air traffic controllers. I gotta talk about this.
This This is a This is could be a great
win for Donald Trump at this point, this could be
a huge win. I want to take everybody back in

(01:28:58):
time when Reagan just said, now you're air traffic controllers,
you can't go on strike.

Speaker 4 (01:29:04):
You're fired. You're fired.

Speaker 5 (01:29:08):
There are hundreds of air traffic controllers at Newark Airport
that all of a sudden said, oh, no, we're entitled
to forty five days off because we've been traumatized. What
what you allowed this into a contract?

Speaker 4 (01:29:28):
Are you kidding me?

Speaker 5 (01:29:31):
No, we need a complete reset button when it comes
to air traffic control, when it comes to travel here
in the United States, first and foremost. Okay, Newark Airport.
I hate Newark Airport.

Speaker 4 (01:29:47):
Years ago, I swaw I'm never flying out of Newark Airport.

Speaker 5 (01:29:50):
But then you know you're in COVID, you know, lack
of flights. I wanted to get out of die. I
want to go on vacation. I found out that Emirates
Airline flying out of new Work into Athens.

Speaker 4 (01:30:02):
It was a really reasonable flight. It was just weird.
Left it like midnight. Said okay, I'll fly out of Newark.
And we flew out of Newark.

Speaker 2 (01:30:11):
Fine.

Speaker 4 (01:30:11):
On the way there, way back we land. I kid
you not.

Speaker 5 (01:30:15):
I waited almost three and a half four hours to
get our baggage.

Speaker 4 (01:30:19):
Yeah, so you get off.

Speaker 5 (01:30:20):
A ten hour flight and I don't know people in
show up. I owe what type of break they were
on hours waiting for my bags. But anyway, anyway, I
have a have a good friend who is a pilot
for United that flies out of New work and my house.

(01:30:42):
Last week Stop Buy was here in Florida visitor and
I'm talking to about what's going on, and he's like,
you have no idea, You have no idea what a
disaster it is? The fiasco that has taken place. Again,
try to get at your arms around this. We live
in a country. We live in a country where you

(01:31:04):
can get yourself a job as an air traffic controller. Again,
you don't need a college degree, Okay, obviously you want
intelligent people. You can do this where again, within three
years you're making over one hundred and sixty thousand dollars
a year and benefit and all of these things that
go along with that. You do you understand that the

(01:31:26):
equipment that these air traffic controllers use at this point
in time floppy discs? How many gen zs even know
what a floppy disc is? Who can actually fix these systems?
You've got a lot of technicians around that can fix
floppy disc systems. How has this not been handled?

Speaker 2 (01:31:51):
How? Okay?

Speaker 4 (01:31:54):
Again? Great movie? Uh what was it? Summer rental with
John Candy? Whatever? They made him go?

Speaker 5 (01:32:01):
He was he was an air traffic controller and he
he was you know, he was looking at the screen.

Speaker 4 (01:32:06):
Remember that, Go back and watch the move the screen.
He was looking at.

Speaker 5 (01:32:09):
A fly was on the screen and he thought it
was an airplane and there was going to be a crash.

Speaker 4 (01:32:13):
And they said, all you need a break, you've been
working too much. Funny movie.

Speaker 5 (01:32:18):
But anyway, that they use in the same systems, the
same systems for decades. For crying out loud, you think
about the technology that we have today AI, what could
be used. It should be smooth as silk and easy.
Make that happen. You want an executive order this is

(01:32:39):
you want to fix this. We're the United States of America.
We should have the most efficient, the greatest airports.

Speaker 4 (01:32:47):
This system.

Speaker 5 (01:32:48):
I don't care if you got to start over, Okay
and do an entirely new system. And again you got
Republicans that are problems with this too. It's in Oklahoma
as a matter of fact, because that's where they train
air traffic controllers and they don't want to decentralize the
system because they've got themselves a business there. Again, not

(01:33:09):
thinking about what's best for the country, just thinking about
what's best for them. And their district so they can
continue to get their campaign funds. We're better than this.
This shouldn't be happening here, and it could be a
major win. How could how could anyone be against this?

Speaker 4 (01:33:29):
Here's it again.

Speaker 5 (01:33:30):
This is an executive order that I want. Okay, fix it,
fix it app. I don't want the upgrades by twenty thirty.
Upgrades by twenty thirty for Crinally, you see the thing,
the chips and the software in the things that are
put out in no time.

Speaker 4 (01:33:50):
You got a kid in Long Island.

Speaker 5 (01:33:51):
You see this, three kid Long Island came up with
an app, came up with an app. He's made, He's
made tens of millions of dollars already on this app.
It actually takes a picture of food and you take
a picture with this hap with the food are you taking?

Speaker 4 (01:34:07):
And tells you how many calories it is.

Speaker 5 (01:34:10):
I mean, it's incredible. You get a kid, a high
school student from Long Island can do that. And you
mean to tell me that our traffic rods I still
use systems that look like asteroids from you know, the
early nineteen eighties with floppy disks. Come on, come on,
these these are wins. These are wins that the president

(01:34:30):
needs to have and can have. Gotta take a break,
Watchdog on Wallstreet dot Com, Watchdog Wallstreet dot Com, Dog.

Speaker 4 (01:34:38):
Anywhere, a lot more. We gotta go over. Watchdog on
Wallstreet dot Com.

Speaker 5 (01:34:42):
Take advantage personal CFO program, our podcast.

Speaker 4 (01:34:46):
Don't forget.

Speaker 5 (01:34:46):
We're giving away you don't know why, copies many copies
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and you may get one.

Speaker 4 (01:34:56):
We'll be back.

Speaker 1 (01:35:12):
This is the Watchdog on Wall Street.

Speaker 4 (01:35:23):
Quarterback everybody. On Tuesday. Tuesday, we.

Speaker 5 (01:35:33):
Saw what took place, what's certain happening between India and Pakistan.
And I'm not I am not going to get into
the the history of the conflict between those two nations,
a contentious relationship that they have. We we know about
the terror attack that took place last month. But again,

(01:35:59):
if it if it didn't upset you, okay, if it
didn't bother you, well then you're you're you really don't
know these are these are two nuclear towers, Okay, frightening,
frightening stuff. And I had a quick comment on this.

(01:36:22):
You know what's what's sad? You want to see how
bad our news media is and go back to the
first anchor man there with Ron Burgundy. But the second one,
the second one where you know, kind of shows just
how the news media started going down hill with the

(01:36:43):
auto chase and where we're basically where we're at today.
So I go on, I want to get some up
to date news on what's taking place. It's probably it's
win right. It's about five o'clock in the afternoon on Tuesday, And.

Speaker 4 (01:37:00):
I checked Fox News.

Speaker 5 (01:37:02):
Nope, nope, the five is on where they're talking nonsense.
HM checked MSNBC, nonsense checked regular CNN, Nope, we'ren't even
covering this. I had to go to I had to
go to the old CNN International to actually get some

(01:37:22):
coverage and get some data and information because that's.

Speaker 4 (01:37:26):
What I wanted. I wanted.

Speaker 5 (01:37:27):
I wanted more information regards to what was going on.
And you know, you know, hearing from some people that
are in the know in regards to this region, I don't,
I don't get it.

Speaker 4 (01:37:39):
I really listen.

Speaker 5 (01:37:40):
I I understand I understand that the news media that
they're there to sell advertisements and whatnot, but you don't
think that this is an important story. You don't take
it upon yourself to actually do the right thing. You
don't think that, you know, jeez, you know we're here
to you know, I understand we're here to make money.
We're also here to educate people. And don't you think

(01:38:02):
in the long run, if you become that trusted of
a source where your go to when it comes to
not just domestic issues but also international events, people might
tune in.

Speaker 4 (01:38:13):
It was a disaster.

Speaker 5 (01:38:14):
It really is the state of news here in this country.

Speaker 4 (01:38:18):
It's awful. Anyway.

Speaker 5 (01:38:20):
China, China, like I've been saying for some time, has
been in deep trouble. Okay, Kyle Bass has been saying it.
I've been saying it for a long long time. I say,
you take anything that China says when it comes to
their GDP and what's happening with their economy, and you
reduce it by half and then some Okay, one big exaggeration.

(01:38:46):
Let me tell you something. We were talking about bonds
here in the United States. What happened to our tenure?
What happened to our thirty year? I don't care what
China is saying. Take a look at their bond rates.
The bond market doesn't lie, and they had to lower
rates even further, and they're.

Speaker 4 (01:39:02):
Making bank lending even easier.

Speaker 5 (01:39:06):
Why they've got to get people to do to do
things again, the tariffs are hitting them.

Speaker 4 (01:39:12):
They are, there's no doubt about it.

Speaker 5 (01:39:14):
Factories are being shut down, people are losing their jobs,
people are not getting paid. The issue and the difference
between China and the United States is that we have
elections and they don't, and they've got issues right now,
and again, hopefully God willing this weekend we can come
to some semblance and meeting of the minds, because once again,

(01:39:38):
we don't want to put people out of work.

Speaker 4 (01:39:41):
We don't want to ruin people. We want to do business.
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com.
We'll be back.

Speaker 1 (01:39:57):
Chris Markowski is the Watchdog Wall Street, the only man

(01:40:19):
who is taking on the Wall Street establishments. You're listening
to the Watchdog on Wall Street with Chris Markowski.

Speaker 4 (01:40:29):
Welcome back, Welcome back. It is the Watchdog on Wall Street.

Speaker 5 (01:40:34):
She's always honored to have you tuned into the program.
And this, you know, Donald Trump has got this idea
here and again it worries me a little bit. I
don't think it's the worst idea.

Speaker 4 (01:40:50):
In the world.

Speaker 5 (01:40:52):
How I'm worried is the fact that you know, it
looks like it might be a money pit for a
lot of defense contractors and a lot of politicians as
well well, looking to get a part of this contract
and bringing stuff to the district. And we know all
about cost overruns. Just look at the F thirty five,
this Golden Dome defense plan that Donald Trump wants to

(01:41:12):
build a you know, missile defense shield for the entire country.
I remember again, that was one of the ideas that
Reagan had. Remember Star Wars. Everybody made fun of him
again it, you know, his idea, you know, helped to
bankrupt the Soviet Union. That the system that they'd put
into play just it didn't work. Oh again, they it
really put it in play. It was kind of all

(01:41:33):
by design and they just didn't work out. But a
golden dome type of situation like Israel has now, mind you,
Israel happens to be a hell a lot smaller than
the United States. It was about size of a Jersey
if I'm not mistaken. So it would be quite the
undertaking reason why I'm kind of pushing back on this
because I do believe people that's that's not what we

(01:41:56):
really need to worry about. I think we're a little
bit I think we're a little bit antiquated when it
comes to defense here in this country. I mean, you
think about you think about all of the havoc that
the Huthis were able to wreck with bloody drones are

(01:42:16):
Eve in Ukraine and fighting back against Ukraine against Russia,
and how they have held their own quite valiantly using
drones cheap equipment. It's not that that's making me nervous. Okay,
we need And actually Paul Tudor Jones, great investor, great investor,

(01:42:40):
great philanthropists as well, interviewed this past week and he's
you know, been going and you know, I've been doing
homework trying to understand, you know, fully get your arms
around AI and its capabilities. We are not spending spending
enough money quite frankly, on security and ensuring that AI

(01:43:04):
people turns into Skynet, turns into the terminator. Okay, we
need to get control over this and what it's potential
as you're talking like a sentiment, super intelligent being, and
we better be able to figure out a way to
shut it off. Not to mention the fact, you know,
you talk about the open source with this and how

(01:43:28):
this could be used by people for nefarious means. Ah,
I can use AI to break into certain systems and
mess with the water supply and do a myriad of
different and mess with the electric grid and all of
these things. We should be preparing for that right now.

(01:43:49):
I've made the suggestion here on the program that all
all systems, any important system that it deals with infrastructure,
whether it be I said, electricity, whether it be water,
doesn't matter. It needs to be taken offline. It needs
to be an insular system where you cannot get in

(01:44:10):
from the outside unless you're you know, remember, uh, Mission
Impossible one. Ethan Hunt had a great movie. Now I
had to sneak into the CIA, but he actually had
to be physically at the computer to access the knock list. Okay.
That's the type of security you can't get in. Okay,
you can't access it from the outside. And we also

(01:44:33):
need to understand what this AI is capable of. Okay,
I'm sorry, I saw the terminator.

Speaker 4 (01:44:41):
I did.

Speaker 5 (01:44:42):
Okay, But you know, there's some lessons in some of
these science fiction movies that we might want to heed.
And if you do a little homework in regards to
what this stuff is going to be capable of doing
in a very short period of time.

Speaker 4 (01:44:52):
You'll get it.

Speaker 5 (01:44:54):
It's spooky, it is, and that's where, in my opinion,
that's where our investments need to be at this point. Again,
I talked about this on the podcast, and I do
get some get some pushback from people. I get some
pushback from people again when it comes to judges and

(01:45:17):
judge decisions and courts and various different things, and why
is this being thwarted and when why is that being thwarted? Well, well,
you know what we're gonna We're gonna go to break
right here. But I want you to think about something
during the break. We are we are a nation of laws.

(01:45:39):
We are not a nation of men. Okay, I'm gonna
say it again. We are a nation of laws. We
are not a nation of men. We need to get
get your arms around that. We're gonna talk about this
when we get back. Watchdog on Wallstreet dot com. Watchdog
on Wallstreet dot com is our site again. Become a
part of our family. Watchdog on Wall Street, show, Markowski Investments,

(01:46:02):
our personal CFO program, our podcast, our newsletter, my.

Speaker 4 (01:46:06):
New book, Watchdog on Wallstreet dot Com. We'll be back.
He's burning.

Speaker 2 (01:46:25):
You should believe in math, not magic.

Speaker 1 (01:46:28):
You're listening to the Watchdog on Wall Street with Chris Markowski.

Speaker 5 (01:46:35):
Next year, next year it would be our two and
fiftieth birthday as a nation. He had been Franklin when
asked coming out of the Constitutional Convention, what do we have?
What do we have, mister Franklin, A republic? If you

(01:46:57):
can keep it, I again, I am a.

Speaker 7 (01:47:05):
I am a huge fan of our constitution. I am
a huge fan of checks and balances, checks and balances,
And you know, there's a reality to our system.

Speaker 4 (01:47:22):
There is.

Speaker 5 (01:47:23):
It's a reality to our system. Sometimes guess what, Sometimes
you just you don't get what you want based upon
the makeup of Congress, based upon a court decision, whatever
it may be. And I said this, said this from
the very beginning of the Trump presidency, because Trump on

(01:47:43):
the campaign trail, I'm doing this on day one.

Speaker 4 (01:47:46):
I'm doing this on day one. I'm gonna do this.

Speaker 5 (01:47:48):
I want to do this in one executive order after
another executive order after another executive order. Okay, if we
were to basically do the three little pigs parlance and
executive orders, executive orders, is the house made out of
straw that the big bad wolf could blow down the

(01:48:12):
house made out of bricks is law legislation through Congress.
That's much much cheaper and easier to build a house
at a straw than there is out of bricks. But
what's gonna last, what's gonna last? What's going to work?

(01:48:34):
You're seeing when people get angry, They're getting angry at courts,
They're getting angry.

Speaker 4 (01:48:39):
At judges, and yeah, okay, I'm with you. Okay, I'm
with you.

Speaker 5 (01:48:45):
Certain judges should probably recuse themselves if they're conflicted. Okay,
I get that, I do. But let's let's be upfront
and honest here. Okay, if you look at the Constitution, Okay,
the power of the purse belongs with the House of Representatives.

Speaker 4 (01:49:06):
It does.

Speaker 5 (01:49:07):
Okay, Now again, do I want Do I want to
slash taxpayer funds to PBS and NPR and all of
these other things?

Speaker 4 (01:49:17):
Yes, I do.

Speaker 5 (01:49:19):
But the way to do it, The way to do
it is through Congress. For crying out loud, elon Musk
hit the ground running with those hit it, finding waste, fraud, abuse,
a myriad of things, highlighting all of these things. So

(01:49:41):
why why didn't Republicans Why didn't Republicans cut all of
that out of the budget.

Speaker 4 (01:49:48):
Cut it all out and that Continuing Resolution bill. Why
didn't they do it? Then? As judge all.

Speaker 5 (01:49:57):
The right wing pundits freaking out because a judge Reet
rejected Trump defunding sanctuary cities. You could have done it yourself.
You could have defunded them through the Continuing Resolution. You
could have put that in and you wouldn't have even thrown.

Speaker 4 (01:50:13):
It to the courts. The courts can't touch it.

Speaker 5 (01:50:16):
The courts couldn't have touched it if you made it
law or made it a hell of a lot more difficult.

Speaker 4 (01:50:24):
That is what we have to get to.

Speaker 5 (01:50:25):
If you want these things that President Trump is trying
to do, if you want them okay to last, they
have to go through the proper channels, and the proper
channels is through Congress.

Speaker 4 (01:50:39):
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot Com.
We'll be back.

Speaker 1 (01:50:55):
God, you're listening, Let's go on Wall Street bringing America

(01:51:20):
financial freedom, one listener at a time. You're listening to
the Watchdog on Wall Street with Chris Markowski.

Speaker 5 (01:51:30):
And Bukoback every Yeah, yeah, you can't always get what
you want. Again, it's our system and again, people, we've
been here for two one hundred and fifty years, most

(01:51:52):
powerful nations of the world has ever seen. Why would you
want to mess with that?

Speaker 4 (01:51:58):
Again? Perrivatives?

Speaker 5 (01:52:00):
You were thrilled when the Supreme Court stuck at the
Joe Biden and his student loan hand out executive order,
and rightfully so, why would you want to grant the
executive the executive branch of the President of the United States,
this power that they shouldn't have.

Speaker 4 (01:52:22):
You might agree with the.

Speaker 5 (01:52:24):
President that is in charge right now and what he
is trying to do, but what happens.

Speaker 4 (01:52:32):
If he's not there?

Speaker 5 (01:52:33):
I mean, think about the amount of power that we
have abdicated to the executive branch since two thousand first
and foremost the Patriot Act, which is completely unconstitutional. Again, yeah, no,
everybody's afraid to push back from that overreach.

Speaker 4 (01:52:54):
Even of the stories over the years government.

Speaker 5 (01:52:58):
We allow the government to spy on us for crying
out loud, we give up our freedoms. The legislative branch
of government barely does any legislating anymore. All they do
is hold hearings, basically, create content for their YouTube page

(01:53:19):
or like influencers and raise money. Yeah, I'm old enough
to remember school House Rock. I'm just a bill, just
an ordinary bill sitting there on Capitol Hill.

Speaker 4 (01:53:33):
Again, this was stuff that we were taught.

Speaker 5 (01:53:35):
Back in the nineteen seventies about how a bill becomes
a law. The executive branch of government has got all
of these acronym agencies that act as judge, jury and
executions that due process, and it's wrong. I may thoroughly

(01:54:01):
agree with what Donald Trump wants to do, however, his
means of doing it through executive order is fleeting. Do
you understand it's going to get challenged no matter what
he does. Someone's gonna file a lawsuit somewhere to stop it.

(01:54:24):
You have a great idea, put it into play. Make
Congress work, stop, stop allowing them to go on vacations
every couple of weeks, and actually do their job.

Speaker 4 (01:54:39):
You had.

Speaker 5 (01:54:40):
That vote in the Senate ended up being forty nine
to forty nine was rand Paul wanted to take away
the whole tariff power of the president.

Speaker 4 (01:54:50):
And sure, we're freaking out about it, except.

Speaker 5 (01:54:52):
Some aren't anymore. Okay, they held their fire on this one.
I guess there wasn't there. The Democrat Sheldon white House
and Mitch McConnell would have voted for it, and again
the President would have vetoed it.

Speaker 4 (01:55:06):
But a tariff, okay, is a tax.

Speaker 5 (01:55:11):
If you don't believe me, go go and watch Scott Bessent,
the Treasury Secretary, being questioned by Congress this past week
and asked by a Democrat about you know what, exactly
where does the money come from tariff?

Speaker 4 (01:55:25):
Who pays the tariff?

Speaker 5 (01:55:28):
And he again was mumbling and but but he couldn't
answer the question because he knows what the answer is,
the answer is we pay.

Speaker 4 (01:55:38):
Bottom line, we pay the same way.

Speaker 5 (01:55:42):
I've tried to explain to people here on the program,
oftentimes trying to explain to liberals do not want to
raise corporate taxes. Ah, corporate tell you, I go after
the corporations don't pay the taxes. I'm like, a corporation
doesn't pay any tax, never has, never will.

Speaker 4 (01:55:57):
Corporation is a tax id number and a logo. That's it.

Speaker 5 (01:56:04):
They derive their tax revenue from what they're charging their
customers for whatever they're selling them or the service that
they provide. The same thing holds through for tariffs. This
is again Rand Paul's not wrong. Where's all taxation supposed
to come from It's supposed to come from the House
of Representatives.

Speaker 4 (01:56:23):
Again, the idea, we gotta get anything done, gotta get
it all right right now. Got everything done right now?

Speaker 5 (01:56:29):
Yeah, okay, but it has to be done the right
way or it's not going to last.

Speaker 4 (01:56:34):
Got in it. All the crap that Obama pushed.

Speaker 5 (01:56:38):
Through in his first two years wasn't by executive order,
wasn't by executive order, and it's stuck around and again
haven't been able to get rid of it. Republicans haven't
been able to repeal and replace Obamacare. We got student
loan nonsense. We had bailouts of order.

Speaker 4 (01:56:56):
I mean, one thing after another that was garbage, but
it lasted anyway. I want to talk a little bit
about this too.

Speaker 5 (01:57:06):
People pushing back because they are President of Mexico, that
Claudia Shinebaum, you know, rejecting Trump's offer of troops to
help fight the drug cartels. Hold on, okay, you do
have to understand that these people, you know, that live
in these countries actually have pride in their countries.

Speaker 4 (01:57:28):
And what is she supposed to do for public consumption?

Speaker 5 (01:57:32):
Say hey, yeah, we're going to let the United States
military run rough shot here in our own country. No. No,
the way that you approach it is, yeah, we're going
to do this. We're going to do it on the
down low. And I got a sinking suspicion, God willing.
I hope that we're able to work that out. But
it's not just Mexico. Yeah, I got I'm very critical

(01:57:53):
the Wall Street Journals some of their reporting, but they
they've been doing a pretty good job with some stories
as of late. There was one story written by Wan
for Rare this past week talking about Columbia. Do you
understand Colombia is pumping out more cocaine right now than
ever before. I didn't even know cocaine was even still
a thing for crying out loud?

Speaker 4 (01:58:11):
Who even knew?

Speaker 5 (01:58:13):
And again we're consuming it, We're consuming it again.

Speaker 4 (01:58:20):
The whole globe is now.

Speaker 5 (01:58:21):
They're actually talking about Narco subs that go to Australia,
Saudi Arabia.

Speaker 4 (01:58:26):
But still, who's a number one customer? We are? We
have to deal with that anyway.

Speaker 5 (01:58:32):
People, Once again, God bless thank you so much for
tuning into the program. Again, I invite all to become
a part of our family. Get to our website, Watchdog
on wall street dot com, we'll see you next week.

Speaker 2 (01:58:45):
If you think that I don't know loud