The Breakfast Club Sits Down With John Hope Bryant To Discuss Dream Forward Event, Trump Tariffs, Financial Literacy, Economic Growth. Listen For More!
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Speaker 1 (00:00):
Wake that ass up in the morning.
Speaker 2 (00:02):
The Breakfast Club Morning.
Speaker 3 (00:05):
Everybody is the j Envy, Jess Hilarious, Charlamagne the God.
We are the Breakfast Club. We got a special guest
in the building. Yes, indeed we have John Hopebrian. Welcome back, brother,
be here.
Speaker 2 (00:15):
How you feeling bless if John O'Brien is it? I
mean that there's some good things.
Speaker 4 (00:19):
Going on in the world.
Speaker 2 (00:20):
First of all, you came gifts or bad. But at
least the things that are bad you can explain, especially
when it comes to some financial stuff.
Speaker 1 (00:27):
Rainbows only follow storms. You cannot have a rainbow without
a storm. First scientific fact.
Speaker 3 (00:32):
Actually, let's let's jump right into that. I was actually
thinking about you the other day. Shout out any socks
for us to socks.
Speaker 1 (00:38):
Yeah, you brought some gifts, so Walmart made these for us.
This is Green Socks Day. You can go online and
get them. They're April thirtieth. We've got the NBA, NFL,
thank you, Roger Goodell, and NASCAR, hockey, Major League Baseball,
major League soccer. I think that's all of them. We
have all of them. It's never happened before. All the
(00:59):
sports leagues are behind green socks. Day. So I'm asking
everybody to put a sock on and talk about financial literacy.
On April thirtieth, do something on financial literacy. Tag Green
Socks Day on your social media, Highlight a post, and
Nasdaq is going to feature the best posts on this
big board here in New York on April thirtieth. In
(01:20):
the ten top posts, We're going to fly him to
New York City. Let them ring the bell. The New
York stock has changed. So this is the way. You know,
people are arguing over black and white, red and blue.
Can we just agree on some green.
Speaker 2 (01:36):
That's why the socks are green.
Speaker 1 (01:37):
That's why, Yes, we want the whole country to come
together on April thirtieth, and this is Financial Literacy Month.
By the way I.
Speaker 3 (01:44):
Was saying, I was thinking about just speaking of the country.
With all the tariffs that that Trump is putting on
the country, right, and you know people are looking to
purchase their force homes all, what what would.
Speaker 4 (01:54):
You advise people to do?
Speaker 3 (01:55):
Right, Because they're saying with the tariffs, they're saying the
price of materials are going to go up in price.
They're saying the price of cars and the parts are
gonna be shooting up what would you advise people to
do if they're looking for home ownership at this this
this point in their life, This is.
Speaker 1 (02:09):
Gonna seem schizophrenic in my advice. I'm telling you in advance,
ignore the noise. First of all, this is just noise,
Just like DEI was a distraction, Like why are we
are getting overdi? Were fifth on the list? Why are
we the poster child for TI? Right? But they wanted
us to be the poster child Somebody did. Somebody wanted
(02:31):
black people to be because that triggers ratio overtones and
all that other kind of stuff. That wasn't even our fight.
This is not our fight. This is somebody else's problem
at the moment. This is like hitting if you want
to get in a fight. It's like hitting your face
on my fist if you want to fight. That's what
(02:55):
this is. This country is seventy percent consumer spending. Sorry,
the biggest acoutonomy on the planet America. We're twenty five
percent of the global economy. We're forty percent of global
wealth in the world. We're big ballists. Out of eight
billion people, it's only three to fifty million people, but
we lead the whole world. But seventy percent of economy.
(03:16):
It's not rich people, it's not big business. It's you
and me paying for car notes and mortgages and going
to get some coffee which didn't work outside. You know,
it's little stuff. It was a car service that brought
me here. It's a breakfast that we had this morning.
So this economy can't succeed without us succeeding, first of all.
(03:37):
So this party ultimately will pivot back to what's going
to drive the economy. Because this is a capitalist democracy,
big C, little D it's a free enterprise democracy. So
I tell people ignore the noise this stuff. If it's
not working, Washington's gonna have to pivot. There's a strategy
in Washington. I was at the Secretary of the Treasury
(03:57):
a couple days ago, who I actually like. I think
he's actually a decent guy.
Speaker 2 (04:00):
Please break that down because I need to know what
the strategy. I don't understand it.
Speaker 1 (04:03):
Well, no, no, I didn't say understood it. You're gone
too far. I said, Well, then, first of all, I said,
I like him, and he and I got to work
together on financial literacy. We don't you know, we're not
gonna agree on everything. I was with him for an hour.
I didn't break I didn't address this issue because his
boss has already made up his mind, and I know
I didn't want to put him in an uncomfortable situation
and ask him questions that he can't answer. Uh, this
(04:26):
has to play itself out. I mean, the country is
having one big colonic right dawn. So it's gonna take
as long as it will take. I don't think it's
gonna take very long. You're not talked about this, and
either he's writer or he's not. The only way terroifts work,
and I could break down what a tariff is, by
the way, most peoplen't understand it. The only way a
tariff works is if it's short term and it's tied
(04:47):
to you negotiating something from whoever you're trying to extract
something from another country. If it's your long term strategy
in a country that is consumer spending, it's a disaster
because it's a tax on you and me. I'm getting
ahead of myself.
Speaker 2 (05:04):
Let me move the tariff.
Speaker 4 (05:05):
For first of all, you ask you this question of yours,
you do the tariffs. So because that goes into this is.
Speaker 1 (05:11):
Really important for your audience. I mean, because people run
through these titles. And I did. I did a podcast
on money and wealth last week. You went to the
roof just explaining like normal terms that people recession and
tariff and inflation. Nobody people assumeing people know this stuff.
Who's teaching anybody financial literacy? You're not dumb and you're
not stupid. Is what you don't know that you don't
know is killing you. But you think you know. A
(05:32):
tariff And as simple as I can describe, it is
a tax on American businesses and American consumers. So this
concept of I'm gonna you hit me. You're a China,
you're by the way, Russia didn't get a terror interesting, Uh,
your Russia, you're wherever India you hit me, I'm gonna
(05:53):
hit you back. No, A tariff might because the cost
of the thing has gone up. Might mean we find
Chinese goods less attractive, we find Indian goods less attractive
because what costs a dollar now costs a dollar eighty.
So maybe we say I don't want any more of that.
But the importer of the thing pays the pays the
(06:15):
tach is hard to get a straight face. The import
the American business pays the tax at the duty station,
and what is that importer going to do. What is
a big company going to do when they get hit
with higher prices that there's no fault of their own.
Speaker 2 (06:30):
They increase.
Speaker 1 (06:30):
It's common sense. This is a radical movement of common sense.
They pass that on to you and me, So our
prices of everything is going to go up unless in
a month he changes his mind again, which he's apt
to do and says I was just kidding. Now, let
me go one step further and tell you how this
(06:52):
the only way this could have worked. If he's saying
he wants to promote domestic production, he wants to bring
everything back home. Fair argument. Although American American American manufacturer
very good, American as a Mattriss manufacturing hub of old
school manufacturing ended in the nineteen seventies. That's why there's
(07:12):
more poor whites in America than poor anybody else, because
they had a high school education, hustle, and the jobs
that they were doing walked away. In nineteen forty nineteen fifty,
Detroit was the richest city in the world for automotive
in the world, richer than prayers, richer than their release.
That was one of the poorest because the business plan
(07:35):
from manufacturing walked away from America. It went to places
that were cheaper. Now we can be American. We can
be a manufacturing center today, but it's gonna be high
tech manufacturing. It's gonna be artificial and tight legends and robotics,
which you need education for. Back to the story. The
only way this would have worked is if the president said,
you know, a year before elected, get all the bankers together,
(07:57):
get all the fortune five hundred companies together, and look
you good, I'm gonna be president of the year. Just
believe me. What I need you to do. Go to
your boards, Go to your governance committees at the boards,
Go to your bankers who allocate capital. Go to Wall Street,
tell them I'm coming and tell them to put capital
aside for manufacturing at home. Also, because I'm gonna have Terrace. Also,
(08:18):
I need you to go to Stanton Island. I need
you to go to little towns in Cleveland. I need
you to go to Detroit, whatever and cut deals for land.
I'm just breaking this downright, and and get the cities
to support you and we By the way, you're gonna
need you get ai. You're gonna need a bunch of
energy to fuel these AI factors. You need to get
(08:39):
some uh you know, electricity and water, things generated. But
I need to get I'm gonna give you a year
because it's gonna be tens of billions of dollars in investment.
And know that I'm committed to this my whole presidency.
This is a new America. And the CEOs go, okay,
we're with you. We want to bring this back. And
by the way, what's what's what's in it for us?
And he has these economic mo shows blah blah blah
(09:01):
period of time, this is gonna be short term pain,
long term game. Okay, none of that happened, so there's
no way. I'm just look, I'm not four against. I'm
just saying I like math. It doesn't have an opinion.
I'm just saying. Stevie, my friend Stevie Wanner can see this.
None of this is going to work long term because
(09:23):
there is no planning.
Speaker 3 (09:25):
So you think, do you think this is a ploy
for Trump to get what he wants? You think it's
a short term play and not a long term play
when it comes to the stats.
Speaker 1 (09:32):
I didn't say I understood it. I said I was
gonna explain it. Look, he's been talking about Terra since
nineteen eighty night go to interviews of him from nineteen eighties.
He's obsessed with it. I have no idea where he
got this from. It's like new math. My calculator works
pretty well. Unless he is the most intelligent being on
(09:54):
the planet, unless he has a whole new way of
viewing economics. I just don't understand it. I'm pretty good
at it. I just don't understand. That's why the markets
are in the tank. That's why you know, CEOs are
scratching their head. But no one wants to say anything
because you don't want to get on his bad side. Look,
I want him to win. I'll say it. He's my president.
Whatever the election is over, he's my president. I want
(10:19):
him to win because if he wins, if he loses.
So this, you know, trying to wish him well and
going to Louisiana hitting getting little the little dolls that
time kind of stuff. No, No, pray, pray for your president,
(10:41):
pray for your country. We're all in this thing together.
Like real talk. But and here's my way of thinking.
Talk without being offensive, Listen without being defensive, and always
leave even your adversary with their dignity, because if you don't,
they'll spend the rest of their life working to make
you miserable. It becomes personal. You got a step over
mess and not in it. He is the President of
(11:03):
the United States of America. He's as you can see
from the executive orders, he's incredibly powerful. He's not a king,
but he has incredible power. And we're going to see
that some of the stuff he's doing as a bridge
too far. It's gonna get reversed. But he has incredible
power with the pen. So we need to walk delicately here.
It's an interesting relationship. I was in a relationship years
and years ago, luckily a wonderful wife JJ. When I
(11:26):
was a kid, I was in a relationship with somebody
who was emotionally immature, which he didn't say much for me.
I picked her, but it was like an emotional Hangarnad.
But I was already in it, and I had to
really be careful. I put that hand Gernad back down
on the ground so it didn't explode and tear me up.
(11:48):
This is where we are. We have to be very
delicate about this situation, and we have to find some
way to help him feel like he won, like I
don't know what it is, but whatever in the next
thirty days, next forty five days. This is not sustainable.
We got to give him some out the country of
other leaders where he feels, yeah, my terror strategy won.
(12:13):
Otherwise this economy will slow and your prices will go up.
You already had inflation from the let's clear something else,
though it's too late for this. Biden created inflation ridiculously
completely wrong. In fact, it was Trump then the Republican
Democrat Congress and Biden. Everybody passed five six trillion dollars
(12:39):
worth of stimulus during the pandemic, so the economy didn't
stall because economy was going to stall when everybody was
in their houses. Because this consumer driven economy and that
plus the Federal Reserve, there's about six seven trillion dollars
actually more like nine to win the economy. That's where
the inflation came from. When you have an imbalance of
supply and demand, so you have too much supply money
(13:00):
the nine of the band, it inflates the cost of
things to.
Speaker 2 (13:05):
All the stimulus checks in the PvP loans. Everybody loved
that part, that.
Speaker 1 (13:09):
Part and it ain't going away, And I said, ain't
on purpose, because there's never been in the history DJ
in the history of the world, there's never been a
trillion dollars of stimulus by any government at any time ever.
And we did nine trillion. Let that sink in. So
how do you think how long you are you gonnaink
(13:29):
it's gonna take for that to work through your transmission system.
So of course we're lucky we don't have twelve percent
on inflation. We're lucky we don't have eighteen percent unemployment.
Like what Biden should have done, he should have come
in and said, I'm gonna be present for four years.
I'm your dude, I'm gonna stabilize everything, I'm gonna drop
the mic, I'm a bounce. I'm only here for four years.
That's what he should have done. He should have said
that up front and been done with his legacy. Would
(13:51):
have been fantastic. But you get in that office. I've
been an advisory for three US presidents. That's intoxicated. That power.
That power is intoxicate. You don't want to leave.
Speaker 4 (14:00):
Really, ask you a question, do you think the government
will so?
Speaker 1 (14:02):
Yes, you should buy a house. By the way, people
don't change your game, don't change your plan, change your mind.
This is this noise is going to ultimately go away.
Three things have never gone down the history of America
GDP Gross Domestic product, real estate's values, and stock market values.
They've gone up. There's a recession, it corrects above the line.
(14:25):
After the recession, it recedes. Recessions, recedes, and then corrects
above the line. Every time somebody might makes an emotional decision,
it's a bad one. Poor people sell in bad times.
What did Warren Buffett say? When people are afraid, be greedy?
When people are greedy, be afraid. Okay, you're about to say.
Speaker 4 (14:42):
Something I was going to ask you.
Speaker 3 (14:43):
I was going to say, you know, with that that
type of thinking, the prices of everything are going to
go up, right in the next couple of months.
Speaker 4 (14:50):
We assume right, build and costs are expensive.
Speaker 1 (14:53):
Interest rates might come down, by the way, metals and
all that. Right, you said, what about intro r They
might come down and inter.
Speaker 4 (14:58):
Come on the same thing would cost which the pres
it is banking on. By the way, So if.
Speaker 3 (15:01):
Somebody these houses and these properties, or they buy these cars,
and they boy these materials, and the prices are up
when this game that we're thinking that he's playing, which
is a short term game, changes back in a couple
of months and he takes these towers offs, and now
those goods are less money you bought when it was high.
Does that hurt help effect? Well, you're assuming the goods
are going to come back down in price.
Speaker 4 (15:21):
If the tower's come off, shouldn't.
Speaker 1 (15:23):
You're assuming that the price is going to back down.
Greed is an interesting thing. You know. There were during
the pandemic there were container companies, the ones who put
the stuff on ships, because we're all run through international trade.
By the way, twenty five percent of the US economy
is international trade. So there was container companies who were
(15:45):
found to be gorging, gouging prices for no good reason.
The prices had, Yeah, temporarily there was not enough of them,
and the prices went up. But then when they kept
the prices high big because it was you know, layering
their pockets. So and Bash or Andrew Jung says that
(16:06):
men and women fail for three reasons arrogance, pride, and greed.
And greed is the oldest thing on the book. The
only time Jesus Christ they ever got upset was when
he turned the table over the money changers in the temple.
That's the only time you get upset. So I think
that because we're the biggest economy in the world, because
it's consumer spending, because capitalists ultimately want to win, prices
(16:27):
will come down to meet the demand of the consumer.
But it's not going to be like flipping a switch
and with somebody in somebody in Washington things. In my
opinion that if you trigger a mild recession, this is
I don't agree with this. You trigger a mi out recession,
you can blame it on the other guy. I don't
agree with that either. I hope this is translating to
(16:48):
your audience when I say the other guy. You blame
it on the other guy, not the current president. You
then get the FED the lower interest rates, which by
the way, helps wealthy people like me but doesn't help
the average every day, and then the economy's booms and
you're golden for midterm elections. Some people believe that. I
(17:12):
just I just don't think that that's rational, and I
think the timing is gonna be all messed up. Even
if that did work, I don't think it's gonna work.
Here's the problem the White House. I've known none US presidents.
I've known twelve. I've worked with twelve Secretaries of the Treasury.
I've been an advisor for three US presidents both parties.
Have been honored by five from both parties. I've never
(17:34):
seen a White House where nine nine percent of people
are either sent to millionaires or billionaires the advisors. Now again,
I'm very wealthy, but I go to the hood once
a month. Yeah, intentionally. I tell my driver wherever I'm at,
take me, take me to wherever the hood is, and
they are all freaked out. I want to see it.
(17:54):
I want to see how we're living. I want to
see those check cashes and pay day long liverers. I
want to go get out and go into a grocery
store or convenienced. I want to listen what's up. I
want to listen to the I want to get in
then uber driver, you know, I want to get in
the taxi.
Speaker 2 (18:05):
You want to talk to the people when people talk
about but never talk to that's right.
Speaker 1 (18:09):
So if you are a cented millionaire one hundred million,
if you're a billionaire, you've been taking private travel for
twenty years now. When I go through I do Delta,
But when I go through, I'm with the coach for
all one hundred thousand Delta employees at operation. I was
on Delta yesterday. Now they picked me up at the curve,
do that whole thing. So it feels like private. But
(18:32):
by the way, I had to like three months ago,
something happened. My greeter wasn't there. I had to go
through the airport term. I was traumatized.
Speaker 2 (18:40):
Cut it out, John.
Speaker 4 (18:45):
Traumatized.
Speaker 2 (18:48):
No.
Speaker 1 (18:49):
I was like, where are these people, Where these people are,
where they're coming from, what they're doing? What? When are
the kids screaming? Why are the lady in here taking
her clothes off? No, I'm just sayingstation. Yeah. My point
is that I'm pretty normal, and I still to me
(19:11):
a minute to readjust to being in an airport term
because I hadn't been there in months. Imagine if you've
been taking private planes your whole life or the last
twenty years. I'm not hate I love it. By the way,
I one day I have private playing somebody else paid for.
You have.
Speaker 2 (19:26):
People have no idea what's going on?
Speaker 1 (19:27):
That's right. You've never been in a grocery stores, right,
You've never been no gas station. You even been to
a bus station. It's impossible.
Speaker 4 (19:34):
You should fly Southwestern Spirit one time.
Speaker 1 (19:35):
You're getting no. I'm good. But it's impossible to make
policy for the average person if you.
Speaker 2 (19:41):
Don't understand not connected to them in any way. And
that's what I wanted to talk about, Like, I love
the conversation you were having, but I want to put
some boots on the ground with it. When you talk
about these working class people, the average everyday person living
check the chech, just trying to pay their rent, just
trying to buy groceries, what should they do in regards
to these tasks? Like could you tell you know you're
telling everybody else just to be cool and silace noise.
They don't have that luxury.
Speaker 1 (20:02):
Oh no, this is our time. I mean, you can't
fall from the floor. Black folks, we've been in. Brown folks,
we've been We've been doing so much with so little
for so long. We can almost do anything with nothing.
I mean, a crisis for us is Tuesday. That's right,
We've been dealing with crisis. I mean, we wake up
in Christ this is actually our asset and our problem.
Before now it was just our problem. I wrote my
(20:22):
last book of financial literacy for all, which, by the way,
thanks for helping me launch. It's still number one a
year later. In business finance, not black just black history.
If something is business finans in the world. But two
books before was a book called the Memo, And in
the Memo I said, basically, there's something that is what
we don't know that we don't know. No one gave
us a memo on how the economy works, and I said,
(20:42):
there's three times of people. There's a surviving mindset, there's
a thriving mindset as a winning building mindset. Wealthy people
talk about their ideas. Poor people talk about other people.
So if you have a surviving mindset that the glass
is half empty, not half full, it's the same glass.
But whether you believe you can and whether you believe
you can't, you're right. So to your point, in a
(21:03):
normal environment, the surviving mindset is at a significant disadvantage
because your ability to hustle has no value whatsoever. Your
ability to avoid a bill or avoid a one eight
hundred number was at Chris Rock said, I don't know
if I want a one eight hundred number. I'm not
answering the phone as a bill collector. Our ability to maneuver.
The system has no value in a growing driving economy.
(21:26):
You got to build something, buy something, do something, roll
with something, understand something. But when things are tough, that
understanding is actually an asset. So now we need to
take that understanding, pull it forward and start doing basic stuff.
Go get yourself a term life insurance policy. You can
get it for ten bucks a month for a fifty
(21:48):
dollars if you're in good health. Twenty five thousand and
fifty thousand dollars policy is little ten dollars a month
because I don't know how long you're gonna live, but
I dang sure to know you're gonna die. So there's
your generational wealth for one hundred bucks a month if
you're in good health. A million dollar policy DJ a
million dollar policy. There's your generational wealth right there. Go
get you a term life insurance policy. Create a will.
(22:10):
My mother's hid. She had a little inner will. She
worked an hourly job for thirty two years, and she
bought and sold in seven home. She had a credit
score of five eight fifty four when it went that
high she died. She had a million dollar networth in
her will was a poison pill. Anybody who pushes back
on this will is deleted from it. Crickets. Nobody said
(22:32):
anything but my mother worked an hourly job, had a
million dollar networks, which means anybody can do it. So
she had a will, she had a life insurance policy,
she got her earned income task credit. So what's that.
Anybody listening to this who make less than sixty thousand
dollars a year get EITC. If you make thirty eight
thousand dollars a year, you listening to this, and you're
(22:52):
in a town anywhere, and you have three children, the
government owes you sixty five hundred dollars cash if you
never file. Is retroactive for three years. So anybody listening
to this who makes forty thousand dollars and goes, what
did he say? You have a check.
Speaker 4 (23:06):
So that's two three children, No, no, any of the
word children.
Speaker 1 (23:09):
Anybody makes sixty thousand dollars or less, you get a check.
The less money and the more kids, as long as
you're working, the bigger the check. So the sweet spot
thirty eight forty thousand dollars three kids. But if you
have forty five thousand dollars in one kid, you still
get a check. And one of the four Americans who
qualify for EITC never asked for it. That's twenty billion
dollars a year. That's not going away. Got you child
(23:32):
task credit Local. Everybody needs to become like it. We
need to become nosy. Everybody's reading the Constitution Bill of
Rights right now, Like, what's these executive orders? I want
you to learn about financial literacy now, this is your
time to surge. Whatever the city programs are, the state programs,
the federal programs. Banks do down payment assistance for poor
people dj envy. In fact, the worse it gets, the
(23:54):
more the more the banks want to dig in. So
a bank, an FDIC insured bank, if you can get
your score up, and we can help you do that
at Operation Hope. And that's the other thing you need
is get your credit score up. The banks will give
you ten thousand dollars and a grant. Plus undermarket mortgages.
So even though the mortgage a rich person might like me,
might be six and a half percent used to be
(24:18):
I got a two. I got a two point seven
percent moving down never I'll never get rid of that one.
But you can't get that anymore. But for community reinvestment
at cra you might get it for four percent five
percent plus you get a ten thousand dollars down payment
assistance grant that's only available to the least of these
God's children. But we don't know about it. So I
just now covered home ownership earned income task credit is
(24:40):
your down payment maybe for homeownership financials. Get your credit
score up. We have this meeting on April fourth, tomorrow,
a Dream four. We will talk about it. And we
got a business plan for Black America, business plan for
Latino America, business plan for women, a business plan for Asians,
a business plan for Native American Indians. I wrote them,
A business plans for poor whites rural America. I wrote
(25:03):
all the plans, and in one plan it shows that
if you rely on the government black people, first off,
you do nothing, our network will be zero by twenty
fifty three, not poor people, everybody. If Black Americans do nothing,
but what we're doing right now, just chilling net worth
(25:23):
by twenty fifty three is zero. If we rely on
the government, which we've been obsessing about since the Civil War.
Understand the Civil War, Understand Reconstruction, Understand the Civil Rights movement,
Understand the Second Reconstruction, I don't understand. Now, we're all up, uptight,
worked up about what's going on in Washington. Let's assume
they get a deathbed conversion and they decide they'd love
black people overnight. They gonna give us welfare, It'll give
(25:45):
us reparations. Everything that's not gonna happen. But no, but
it's worth three hundred billion to a maximum of six
hundred million dollars. Now hold that number by twenty fifty three,
that's only twenty five years from now. If you raise
your credit score one hundred points, a lot of people
have the lowest credit score on average in America, six
to twenty, which means half of us wake up in
the morning locked out of the free enterprise system, can't
(26:06):
get a decent car loan. You go to the car dealership,
you get a Mercedes eighteen percent interest. It's out of Mercedes.
It's Mercedes payments, and it breaks down in four months
because the number one way they make money is maintenance
and finance department. They don't even make any money selling
the car. They wait if you to bring it back
to actual literacy. But if you get your credit score
up one hundred points, that's seven hundred and fifty billion
(26:29):
dollars by twenty fifty three. That's one hundred and fifty
billion dollars more than the best estimate of the government's assistance.
And we can do that by ourselves become homeowners. That's
eight hundred billion dollars separate from the seven d and
fifty billion dollars. That's one point five, give or take
trillion dollars. And that doesn't even require the government. We
(26:49):
can do this our salves. There's another trillion dollars on
buying businesses. Am I going too far too fast? They
got to do their research.
Speaker 4 (26:57):
They break down is you know, there's tiers when it
comes to credit.
Speaker 3 (27:02):
So like when you're saying, somebody go into a car
dealership and they're trying to buy he said, a Mercedes.
It's a mercy dealership, right, a mercy note. So if
your tier is four or five or six, forget about it.
Speaker 1 (27:11):
Yep.
Speaker 3 (27:11):
Credit rate if your car is usually four hundred dollars
a month is going to be eleven hundred dollars a month.
But if you have Tier one credit, you probably have
to put down less money and your not there's only
four money just based off your credit.
Speaker 4 (27:22):
Same thing with home ownership.
Speaker 3 (27:23):
Same thing with credit cards, that you buy the store,
whether it's Nordstrom, Sears, JC, Penny Macy.
Speaker 4 (27:27):
So that's what he's saying. As far as the tiers
when it comes to credit.
Speaker 1 (27:30):
Yeah, let's go one step further. The place is where
we grow up. Check casher, next to a payday loan lender,
next to a rent own store, next to a title lender,
as in the title of your car. Yep, pawn shop,
liquor store right there, church down the street, the church,
(27:51):
your lovel therapist. They trying to make sure you don't
go craik cray once a week. Make sure you don't
go postal on Monday. All right. And by the way,
poor white same you go to a poor white real neighborhood,
check cash or pay day long line to rent their
own store, title in the liquor store, they just pray.
The church, they just pray differently. They're quietly loud.
Speaker 2 (28:10):
Oh you got about the Fried Chicks bar too, yeah?
Carry out?
Speaker 1 (28:13):
Well yeah, yeah, fast food. By the way, you lived
to sixty one years of age. I mapped every zip
code in America by credit score. You lived a sixty
one years of age in a five hundred credit score neighborhood,
you lived to eighty one years of age, fifteen minutes apart.
In a seven hundred credit score neighborhood, you live twenty
(28:34):
year longer life because of your credit score. And it's
not about the credit score, it's the trending indicators underneath
that hope, well being, faith, confidence, belief, optimism. What disease
is often diseased. Keep keep your stress level, so again,
surviving mindset. You have a surviving mindset. You're stressed out,
you're full of anxiety. If you hanging around nine bro people,
(28:55):
you'll be the tenth. You're up, you're toe up from
the flow up. You're gonna die early, and you're eating
bad food. So this is a game. Man, What did
Malcolm X say. We've been bamboozled, We've been tricked, we've
been food, we've been hoodwinked. Here's one for you. Everybody
wants to start a business. I love that. I've got
this thing called one million Black Business Initiative SHOPIFI put
(29:16):
up one hundred and thirty million dollars up to George
Flord's murder. They just announce it, putting up another sixty
million to help me get to one hundred and ninety
million because they can't be happier with all the businesses
that are black businesses that are now on the Shopifi platform.
It's not d and I is good business. By the way,
the president of Shopifi speaking at the Martin Luther King
Dream Florid Initiative, Harley Finkelstein, it's business for them, which
(29:37):
is which is.
Speaker 2 (29:38):
What we want now, inclusive economics.
Speaker 1 (29:40):
Inclusive economics, which you helped me pioneer, by the way.
So so okay, so stick with that for a minute.
So we at all these business business people. They want
to be business people now. They want to start a
pizzeria or something in I need fifty thousand dollars. You
do a GoFundMe or whatever it is, and you hustling.
It's in the bank. One give the money. They want
you to personally guarantee your house. All that stuff easier.
(30:01):
It is easier for somebody to go to Wall Street,
which is where we are, and get finance a twenty
million dollar business with non recourse debt, which means you
don't personally guarantee it, than it is to start a
pizzeria with one hundred thousand dollars loans from the bank.
Now that doesn't that to your audience sounds absolutely crazy.
Let me break it down. We have the first generation,
(30:23):
our generation where you're gonna have more people over sixty
five than underage than under eighteen. These are white, wealthy
baby boomers, all trying to go retire and play golf
at the same time. So there is a's about four
hundred three dollars of wealth in the world. About one
hundred and eighty treeing of that is in the one
hundred and eighty training that is in the United States.
(30:44):
About fifty training of that was created since twenty twenty.
I'm trying this is. These are this is are ridiculous numbers.
Fifty threeing of that was just created in the last
twenty five years. These baby boomers made a crapload of money.
They're bawling billionaire sent to millionaires. They want to go
play golf, they want to enjoy their life, they want
to be on their yacht. God bless them. They're all
(31:05):
leaving the stage at the same time. Forty percent of
this country is now black and brown. That's why everybody's nervous.
By the way, black and brown. He's the new interest
of the economy within ten years, it's going to be
a majority of minorities. By the way, A thirty economies
women seven trillion dollars. So it's black, brown women, right.
Some people are nervous about who's taken over. This is
a whole other conversation with this is fueling political the
(31:28):
political environment. By the way, in my opinion, which is
what you're singing in Washington, go back to the numbers.
So now, what's happening with this tree, the one hundred
tree and dollars with the word of wealth, DJ ANDV
is about to transition through inheritance in the next ten years.
The wives and the husbands and the kids wants the stocks,
the bonds, the cash and the houses. They don't want
(31:51):
the businesses. Elone, I'm good. I don't want I don't
understand it. I don't want to do it. I want
to go enjoy my life. Their generation makes it, taking
generation spends it, third generation loses it. But don't mind
me with the facts. I've already made up my mind.
I want the cash. That means there's about fifteen trillion dollars.
(32:11):
Please audience, listen to this. This is making smart sexy
on scale. Does fifteen trillion dollars are profitable, successful, branded
real estate, having client having nothing wrong with them, businesses
that nobody wants go buy them. They're already cash flowing.
(32:35):
There's nothing wrong with them except the kids and the family.
Speaker 4 (32:39):
Don't want them too comfortable.
Speaker 1 (32:41):
I don't know what it is, but it's an opportunity,
that's what. So I think I started this by saying
rainbows after storms. You cannot have a rainbow that a storm. First,
don't look at a problem as a problem, look at
it as an opportunity. All capitalism is is solving problems.
So yes, it's going to get tight. We used to
type black folks are born on probation in the America.
(33:04):
You gotta be twice as smart, twice as intelligence, twice
as world dressed, get up twice as early, stave twice
as late, and worked twice as hard and hustle and
getting no credit for it. Okay, what else is new?
This is? This is our life story. Everybody else is
not used the problems. They're the ones that are going
to be dropping off of one story buildings. We're going
to counsel our white friends about calm down. This is
gonna be okay, so I'm actually quite optimistic about the future.
Speaker 4 (33:29):
So what are you doing this weekend? You're doing something
specialist weekend.
Speaker 2 (33:32):
Dream Forward, a virtual town on financial inclusion. That's why
I love John because you always have a solution, you know,
one any people that's just always constantly talking about problems
and trying to profit off the problems. He's creating solutions
to the problems.
Speaker 1 (33:43):
Uh yeah, So dream Forward, thank you, Dream Forward. What
you're what you're involved in, and I would love to
have all of you involved in, by the way, because
you're all voices for this generation. This is uh, this
is a meeting between Republicans and democrat We have Second
Senator Raphael Warnock, who is the fifth chap pastor of
(34:05):
Ebenezer Church and a Democratic Senator. We have Mick Molvaney,
former chief of staff for Trump. We have the black Pope,
Bishop T. D. Jakes. We have the man who was
on the balcony with Doctor King, Ambassador Andrew Young. We
have doctor King's daughter, Doctor Bernice A. King. She's a
great person. We've got the Mayor of Memphis, Paul Young,
who's black. Now, by the way, We've got uh, the
(34:28):
CEO of Walmart. We've got Doug McMillan, who's co chair
of Financial Legacy for All, which is doing the Green
Socks Day. By the way, we can talk about if
you want, d I. I'll be happy to talk about
that as well. People have misunderstood that as well, in
my opinion. We've got killer Mike t I Van Jones.
(34:48):
I'm just going off the top of my head here
Ray MacGuire of Mazar to sign a ducket who runs
a two trillion dollar company called t I a Kraft
which is just basically pension funds, all your pension funds
and of estimas a council probably with t I a Kraft.
It is an amazing lineup. I just talked to doctor
Ben Chavis this morning. There's one hundred delegates, Bounty, delegates
(35:10):
of Mark Morele, the National Urban League, everybody who you
think of or may or may not have known about
who is at the top of the mark. They are
going to be there. In fact that we just now
yesterday the dropping the drop the Mike keynote to walk
out the stage is Sam Altman, who is the Steve
Jobs of this generation. That's AI. So it is a
(35:32):
way to honor doctor King, not by just marching in
the streets but cutting business deals in the suites. It
is continuing his unfinished work of the Poor People's Campaign.
It is his last book. Wherever we go from here,
it's answering that with a dream forward and there's no complaining.
There's no politics, there's no whining, there's no talking about politicians.
(35:56):
This is about us moving forward for two hours, a
positive plan, and we're gonna leap. Tomorrow people will be
able to download the business plans we wrote and can
and you can have it. You can talk about at
the kitchen table, you can mark it up, change it.
But this is full transparency. We wrote a plan. Typically
this happens behind closed doors. We've written these plans and
(36:17):
they will be available to everybody as of tomorrow morning.
People can register at Operation dot org and actually listen
to the global town Hall. Roland Martin is gonna be
streaming it. You guys are gonna be there. We've gotten
I think that the Associated Press is gonna be there.
We have all the networks who have moderators part of it.
We've tried to be as inclusive as we can.
Speaker 2 (36:38):
We should streaming Nick, we should screaming it. We thought
about it.
Speaker 1 (36:42):
We got a video yesterday from from the new chairman
of the Senate Bank Committee. Uh, Tim Scott Brother, what
time it's It's one to three pm Eastern Standard time
April fourth today. Yeah, and it's noon to two Central
Standard time. Doctor King, by the way, was assassinated April fourth,
(37:04):
nineteen sixty eight, at six pm Central time. That's the
exact time he He actually had a pillow fight. Right
before he was assassinated. He had just relaxed, and he
knew he was gonna be He knew he was gonna
be killed. The night before. It was the only time
he ever collapsed on stage. He gave a speech called
the Mountaintop. I've been to the mountain. I've seen the mountaintop.
(37:26):
I may not get there with you. He knew it,
and he collapsed in his and Andrew Young and Jesse
Jackson's arms and others. And the next day they Andrew
Young tells me they had this incredible pillow pillow fight
in the hotel. Will be at the Lorraine Hotel, by
the way, I will tomorrow let me today. And he
(37:46):
just thought it was eerie that Doctor King was so
light and he walked on that balcony and the world changed.
And what nobody knows is later on the FBI told
and Basher Young instructions for the shooter was if you
if you missed, the dreamer killed the strategist. That's Andrew Young.
(38:09):
So he hasn't been able to sleep for all these years. Wow.
The guy who created the OSSI and it Harrietville for
black people in the world. Atlanta, Georgia is the only
international city in the South, five hundred and fifty million
dollar economy, the same size as Singapore, by the way,
so we proven we can build a world economy. The
guy who did that brought the Olympics to Atlanta, the
(38:29):
only mayor of it, mentored by doctor King. Can't sleep,
so we owe him a debt. We owe all the
heroes and heroes and leaders who came before us a debt.
We owe those who are trying to fight for our
civil rights now a debt to carry on this work
and not just to be about me, but to be
about we. This is you can't just be selfish anymore.
(38:53):
Like we have got to be about all of us,
and this is this is our time. If you want
to be a part of history, you want to feel
like your life really mattered. It's right now m hm
in my opinion, and there are answers to these questions.
I mean, there's nothing that we talked about this morning.
That's rocket science.
Speaker 3 (39:11):
Tune in tomorrow and forward on financial inclusion. And what's
the website again?
Speaker 1 (39:17):
Uh? You can tune in at Operation Hope dot org
where you can register at Operation Hope dot org and
it will stream and hopefully the Breakfast Club and I heard,
by the way, is covering it. Black Information Network is
covering it. Uh, we have many many maybe platforms. Again,
Roland Martin is gonna be covering it, and we have
our own strength. If you get lost, just go to
(39:38):
Operation Hope dot org and you there'll be instructions there,
or just follow Charlottmane'll he'll, he'll be with us. Uh.
But but this is you know, this is this is
no time to be, This is no time to be.
I understand stress, and I understand this is serious. But
unless you just gonna give up, throw your hands up,
(40:01):
you might as well be positive about it. I can't
guarantee you that being positive is gonna make you succeed,
but I absolutely guarantee you the being negative is gonna
make you fail, absolutely, And these folks want you to
give up, by the way, they want you to throw
your hands up. That's why they did all this stuff
in the first sixty days, was to flood the system,
overwhelm you, so you throw your hands up and you
(40:23):
give up. No, no, we're not gonna give up. We're
gonna double down, and we're gonna be a north star.
What I want at this meeting is civility. I want
us to be civil. I want us to be inelegant.
I want us to be intelligent. I want us to
be thoughtful. Emmy university has already signed up to work
(40:43):
on the plan. They were so impressed with what we
were doing. Their economics department said, this is a great plan. We,
along with the clock Atlanta University Business School, will work
the builders out for six months between now in the
whole global forum in December, where we have another version
of the plan and everybody gets to participate in that.
Everybody but the one hundred delegates will get to participate
(41:04):
and help to shape the plan. So what's going to
be announced at the meeting is going to the framework
of the business plan. I talked a little bit about
that today I mentioned there's seven and fifty billion available
just for black This is the Black American plan through
credit score increases. We can do that ourselves. I'm doing
that at Operation Hope Creasing. Increasing credit score is fifty
(41:24):
to one hundred points. By the way, don't pay anybody
to raise your credits that you don't need that. We
do it for free. You can be a homeowner. Forty
four percent of Black people own a home, compared to
seventy five percent of our white counterparts. The number one
way you build wealth in America is homeownership. Brothers be
talking about oh job, Brian always talking about owner a home.
(41:47):
I don't own the home. The bank owns a home.
If you don't pay. In fact, if you don't pay,
if I own the home, if I loan you the money,
I'm on own the home. Like capitalism, we've got to
stop being emotional. Also man like capitalism is a gladiator sport.
Here's capitalism. This is a table. You're on one side, DJMIV,
(42:10):
I'm on the other. You're you're the capitalist, I'm the consumer.
Your job is to extract as much money from me
while giving me the least. My job is to pay
you the least while getting the most. This is my job,
and that is your job. And every successful negotiation is
where everybody leaves it slightly annoyed. That's a success. You know,
(42:34):
you've been in real estate. You know that to be true.
If somebody's too happy and somebody's too sad, somebody got
messed over. That's going into a car dealership in the hood. Right.
So it always drives me nuts when I hear these
artists talking about, oh, oh these I'm gonna go to
some taboo areas. Oh these jews in music business, they
(42:54):
robbing us. First of all, you weren't saying that when
you when they gave you a record contract. And this
is not the clans man, this is not this is
not nobody forced you to side a contract. You should
have got your attorney. It's that that person's job is
to negotiate the best possible deal for themselves. Their job
is not to give you anything. Their job is to
(43:15):
take every dollar they can off that table. Your job
is to read your contract and negotiating. And I don't
want to I just want to do music. Well, you're
about to get robbed. Quincy Jones told me God rest
his soul if you think you're in the music business
and you don't own music rights, publishing rights, or licensing
rights or some kind of rights. You're not in the
(43:36):
music business. You're a temporary performer. It's a music business.
It's the business of music. So your job is to
go to an attorney and read the contract, hab it reviewed,
come back with changes, redline notices. Charlemagne reads his contracts.
I know that. Go back, say no, I don't like
this part. I don't like that part. I don't want
(43:56):
that advance. That's a loan, that's what it is. It's
a loan negotiate. I want to do what they do
in the NFL. I want a signing bonus. I don't
want to loan renegotiate. But you can't come back four
years later because life didn't work out for you, and
then say you are racist all of a sudden. No, no, no, no,
that's a good negotiator. You should be applauding them. Actually,
(44:18):
they did their job. So I'm just trying to make
it plain like we have got to knock it off,
like we've got to when the rules are published in
the playing filler's level, we kill it. Look at you guys,
you're the biggest in the planet because you know what
you're doing. Sports, we kill it, the arts, entertainment, music,
(44:41):
we kill it. Faith, we kill it. Politics, even President
of the United States, we kill it. Obama, we went
to the top of the mark. Why can we do
it in capitalism? I mean, I'm just asking. It's not
like we did it ried and it didn't work. That's
(45:02):
why I started out with these numbers about the government.
We've been obsessing about the government. We've been at this
trough for too long. They're kicking us out. We should
want to leave. They're kicking us out. That's what the
that's what's happening in Washington. But we should have left
forty years ago to build our own that part. That's right.
Speaker 3 (45:21):
Well, today it's going to be a financial inclusion Dream
Forward is a virtual town hall.
Speaker 4 (45:26):
And we appreciate you for joining us. Ways, brother, thank
you so much.
Speaker 1 (45:29):
I love you.
Speaker 2 (45:29):
And make sure you subscribe to John O'Brien's podcast, the
Money and Wealth Podcast on the blackfact IEARTVEO podcast network.
You can get information like this.
Speaker 1 (45:36):
By the way, time is by the way, it's top
five percent of all podcasts. I was stunned. I was
looking at it last night. It's number thirty two on
the Entrepreneurship podcast for Everybody love It on Apple and
it's top five percent. So our people really do want
to know, like how does this stuff work? Like they
really do. I had eight hundred million video views in
two years. Now, that's nothing to you, guys, but I'm
(45:58):
talking about some boring talking for money. So every and
every week something hits a million views, one of my
videos gets and people like you used to look at
it and it's like two thousand years, eight thousand years,
ten thousand years. People are people want to know how
this game worked. Tell me how this stuff works, Joan,
(46:18):
But no one's broke it down to him. They I
don't know. I don't know what to see successful people.
I can't figure it out. I don't know if we're hiding.
I don't know if they're afraid. I don't I don't
know what it is. They want to keep it all
to themselves.
Speaker 2 (46:33):
I was in, Uh, I can't And John's giving it
to people, not selling it to people. What a difference.
Speaker 1 (46:37):
What did jay Z say, I'm giving you? His four
four four album was a financial literacy album. We're talking
to him about the way about a partnership with financial literacy.
He said, I'm giving you a million dollars or a
game for nine ninety nine. I'm giving you for no.
Ninety nine. I was at this meeting, which I can't
say what the meeting was, but it was a very
meeting of billionaires in Florida early last year, and I
(46:58):
couldn't figure out, why are these wealthy people we're discouraging
home ownership. I'm in this meeting and they don't. They
want everybody to rent, and they're trying to tell me
that people don't want to rent anymore. And I'm like, well,
you know, I was born at night, but not last night.
Like I read the newspaper and I read report and
(47:21):
I got data, and my data says that most people
actually want to own a home, they don't know how to.
And I think I figured it out because it makes
no sense to me that my rich friends would tell
you not to own a home, own a home. The
rich people telling you not to own a home, own
probably three by the way, this might be an interest,
(47:42):
by the way, it's just capitalism. I don't I'm not
I'm not hating them. When you think about uber Left,
I know. By the way, we partner with Uber. I
love I love Dana the dire of the guy who's
CEO that's renting you a ride. You can rent an
RV help me out here, you can rent, you can rent,
dang there anything. Now, it could be that people are saying,
you know what, we're gonna own all the houses and
(48:03):
all the assets. Y'all just rent, Just rent your life.
You know your generation, you just want to we'll have fun. Fine,
if you want to be ignorant. Sorry, if you want
to be cool, you gon rent your life. We'll own it.
We'll take care. Don't worry about it. We'll take care
of it. By the way, I'm a landlord, but I
(48:24):
want you to move from rent to own. I don't
want you staying with me forever. I don't want you
working in McDonald's for your entire life. I would say Walmart.
But by the way, do you know that if you're
a if you're a general manager of a Walmart, you're
making a million dollars a year. Did you know that?
(48:45):
That's stunning to me? It is. If you're working one
of these big box retailers, you're making as much as
a million all the year. I almost passed out this
opportunity everywhere. People have got to become obsessed with financial
literacy and AI Literateye, everything is going to change by
twenty fifth, twenty thirty, sorry, by the next five years.
(49:06):
If you got a high school education and you lazy,
and you chilling, you messed up, you toe up from
the flow up, this world's gonna leave you absolutely behind.
Van Jones will be at the meeting said that ninety
nine percent of white people Black people don't know a
thing about AI, but nine nine percent of white people
don't know a thing about AI either. This is mutual discrimination.
(49:28):
And if you're an accountant, your job might be gone
because AI is going to remove it. If you're in
an attorney, your job might be gone. But if you
can master artificial intelligence, everything's going to change. You want
to ride the horse of how AI accounting is going
to be next, or law's going to be next, or
what you've seen robotics and automation technology completely transform radio
(49:49):
and media. So this stuff is changing underneath our feet.
If you're working at a CVS or a grocery store,
you went into one five years, AG go ten counter
clerks at the rest of the grocery store, one tester
line for self checkout. Go to the same grocery store today,
(50:10):
ten self checkouts. One teller tell me, I'm lying. Go
to cb as a Walgreens. You might not see a
teller all at all. Go to the go to the
go to the airport, and go to the fast food restaurant.
It's a tablet. It's happening right in front of us.
(50:33):
Folks have got to be obsessed about what we're talking
about here. Your life literally depends on it. And if
we master this, this country can't survive without black and
brown people and women. God has a sense of humor.
I'm done. When I was here last I said this,
but I'm gonna double down. It's never been in the
history of the world. You cannot be a global economy.
(50:56):
You cannot be the world leader unless you're the economic leader.
There's never been a power that was in the economic
power at the same time. Rome, France, Germany, whoever it was, Britain.
We're the world leader with the economic leader. There's never
been a situation where relied on the northeast to sustain that. Ever,
in nineteen fifty America was ninety percent white, not eighteen
(51:19):
fifty nineteen fifty. America is down incredibly diverse, and there's
not enough college educated, successful white men to drive GDP
Gross domestic product for the next twenty years. There's just
not enough of them. I want every one of them
to be successful, there's just not enough of them. So,
(51:40):
unless we want to be speaking Mandarin in twenty years,
my rich friends eat, my poor friends do better, if
only to stay rich. They actually need us. I'm gonna
say something real crazy. Even the Klansmen, even the racist,
the most racist white person you've ever met, succeeds when
(52:03):
we do well.
Speaker 3 (52:06):
Today, tune into Dream Forward, a virtual town hall on
financial inclusion, and we appreciate you for joining us.
Speaker 2 (52:13):
Operation Hope.
Speaker 1 (52:14):
Thank you, John.
Speaker 4 (52:14):
It's John Hope. Brian, It's the Breakfast Club. Good morning.
Speaker 1 (52:17):
Wake that ass up in the morning. Breakfast Club.
Wake that ass up in the morning.
Speaker 2 (00:02):
The Breakfast Club Morning.
Speaker 3 (00:05):
Everybody is the j Envy, Jess Hilarious, Charlamagne the God.
We are the Breakfast Club. We got a special guest
in the building. Yes, indeed we have John Hopebrian. Welcome back, brother,
be here.
Speaker 2 (00:15):
How you feeling bless if John O'Brien is it? I
mean that there's some good things.
Speaker 4 (00:19):
Going on in the world.
Speaker 2 (00:20):
First of all, you came gifts or bad. But at
least the things that are bad you can explain, especially
when it comes to some financial stuff.
Speaker 1 (00:27):
Rainbows only follow storms. You cannot have a rainbow without
a storm. First scientific fact.
Speaker 3 (00:32):
Actually, let's let's jump right into that. I was actually
thinking about you the other day. Shout out any socks
for us to socks.
Speaker 1 (00:38):
Yeah, you brought some gifts, so Walmart made these for us.
This is Green Socks Day. You can go online and
get them. They're April thirtieth. We've got the NBA, NFL,
thank you, Roger Goodell, and NASCAR, hockey, Major League Baseball,
major League soccer. I think that's all of them. We
have all of them. It's never happened before. All the
(00:59):
sports leagues are behind green socks. Day. So I'm asking
everybody to put a sock on and talk about financial literacy.
On April thirtieth, do something on financial literacy. Tag Green
Socks Day on your social media, Highlight a post, and
Nasdaq is going to feature the best posts on this
big board here in New York on April thirtieth. In
(01:20):
the ten top posts, We're going to fly him to
New York City. Let them ring the bell. The New
York stock has changed. So this is the way. You know,
people are arguing over black and white, red and blue.
Can we just agree on some green.
Speaker 2 (01:36):
That's why the socks are green.
Speaker 1 (01:37):
That's why, Yes, we want the whole country to come
together on April thirtieth, and this is Financial Literacy Month.
By the way I.
Speaker 3 (01:44):
Was saying, I was thinking about just speaking of the country.
With all the tariffs that that Trump is putting on
the country, right, and you know people are looking to
purchase their force homes all, what what would.
Speaker 4 (01:54):
You advise people to do?
Speaker 3 (01:55):
Right, Because they're saying with the tariffs, they're saying the
price of materials are going to go up in price.
They're saying the price of cars and the parts are
gonna be shooting up what would you advise people to
do if they're looking for home ownership at this this
this point in their life, This is.
Speaker 1 (02:09):
Gonna seem schizophrenic in my advice. I'm telling you in advance,
ignore the noise. First of all, this is just noise,
Just like DEI was a distraction, Like why are we
are getting overdi? Were fifth on the list? Why are
we the poster child for TI? Right? But they wanted
us to be the poster child Somebody did. Somebody wanted
(02:31):
black people to be because that triggers ratio overtones and
all that other kind of stuff. That wasn't even our fight.
This is not our fight. This is somebody else's problem
at the moment. This is like hitting if you want
to get in a fight. It's like hitting your face
on my fist if you want to fight. That's what
(02:55):
this is. This country is seventy percent consumer spending. Sorry,
the biggest acoutonomy on the planet America. We're twenty five
percent of the global economy. We're forty percent of global
wealth in the world. We're big ballists. Out of eight
billion people, it's only three to fifty million people, but
we lead the whole world. But seventy percent of economy.
(03:16):
It's not rich people, it's not big business. It's you
and me paying for car notes and mortgages and going
to get some coffee which didn't work outside. You know,
it's little stuff. It was a car service that brought
me here. It's a breakfast that we had this morning.
So this economy can't succeed without us succeeding, first of all.
(03:37):
So this party ultimately will pivot back to what's going
to drive the economy. Because this is a capitalist democracy,
big C, little D it's a free enterprise democracy. So
I tell people ignore the noise this stuff. If it's
not working, Washington's gonna have to pivot. There's a strategy
in Washington. I was at the Secretary of the Treasury
(03:57):
a couple days ago, who I actually like. I think
he's actually a decent guy.
Speaker 2 (04:00):
Please break that down because I need to know what
the strategy. I don't understand it.
Speaker 1 (04:03):
Well, no, no, I didn't say understood it. You're gone
too far. I said, Well, then, first of all, I said,
I like him, and he and I got to work
together on financial literacy. We don't you know, we're not
gonna agree on everything. I was with him for an hour.
I didn't break I didn't address this issue because his
boss has already made up his mind, and I know
I didn't want to put him in an uncomfortable situation
and ask him questions that he can't answer. Uh, this
(04:26):
has to play itself out. I mean, the country is
having one big colonic right dawn. So it's gonna take
as long as it will take. I don't think it's
gonna take very long. You're not talked about this, and
either he's writer or he's not. The only way terroifts work,
and I could break down what a tariff is, by
the way, most peoplen't understand it. The only way a
tariff works is if it's short term and it's tied
(04:47):
to you negotiating something from whoever you're trying to extract
something from another country. If it's your long term strategy
in a country that is consumer spending, it's a disaster
because it's a tax on you and me. I'm getting
ahead of myself.
Speaker 2 (05:04):
Let me move the tariff.
Speaker 4 (05:05):
For first of all, you ask you this question of yours,
you do the tariffs. So because that goes into this is.
Speaker 1 (05:11):
Really important for your audience. I mean, because people run
through these titles. And I did. I did a podcast
on money and wealth last week. You went to the
roof just explaining like normal terms that people recession and
tariff and inflation. Nobody people assumeing people know this stuff.
Who's teaching anybody financial literacy? You're not dumb and you're
not stupid. Is what you don't know that you don't
know is killing you. But you think you know. A
(05:32):
tariff And as simple as I can describe, it is
a tax on American businesses and American consumers. So this
concept of I'm gonna you hit me. You're a China,
you're by the way, Russia didn't get a terror interesting, Uh,
your Russia, you're wherever India you hit me, I'm gonna
(05:53):
hit you back. No, A tariff might because the cost
of the thing has gone up. Might mean we find
Chinese goods less attractive, we find Indian goods less attractive
because what costs a dollar now costs a dollar eighty.
So maybe we say I don't want any more of that.
But the importer of the thing pays the pays the
(06:15):
tach is hard to get a straight face. The import
the American business pays the tax at the duty station,
and what is that importer going to do. What is
a big company going to do when they get hit
with higher prices that there's no fault of their own.
Speaker 2 (06:30):
They increase.
Speaker 1 (06:30):
It's common sense. This is a radical movement of common sense.
They pass that on to you and me, So our
prices of everything is going to go up unless in
a month he changes his mind again, which he's apt
to do and says I was just kidding. Now, let
me go one step further and tell you how this
(06:52):
the only way this could have worked. If he's saying
he wants to promote domestic production, he wants to bring
everything back home. Fair argument. Although American American American manufacturer
very good, American as a Mattriss manufacturing hub of old
school manufacturing ended in the nineteen seventies. That's why there's
(07:12):
more poor whites in America than poor anybody else, because
they had a high school education, hustle, and the jobs
that they were doing walked away. In nineteen forty nineteen fifty,
Detroit was the richest city in the world for automotive
in the world, richer than prayers, richer than their release.
That was one of the poorest because the business plan
(07:35):
from manufacturing walked away from America. It went to places
that were cheaper. Now we can be American. We can
be a manufacturing center today, but it's gonna be high
tech manufacturing. It's gonna be artificial and tight legends and robotics,
which you need education for. Back to the story. The
only way this would have worked is if the president said,
you know, a year before elected, get all the bankers together,
(07:57):
get all the fortune five hundred companies together, and look
you good, I'm gonna be president of the year. Just
believe me. What I need you to do. Go to
your boards, Go to your governance committees at the boards,
Go to your bankers who allocate capital. Go to Wall Street,
tell them I'm coming and tell them to put capital
aside for manufacturing at home. Also, because I'm gonna have Terrace. Also,
(08:18):
I need you to go to Stanton Island. I need
you to go to little towns in Cleveland. I need
you to go to Detroit, whatever and cut deals for land.
I'm just breaking this downright, and and get the cities
to support you and we By the way, you're gonna
need you get ai. You're gonna need a bunch of
energy to fuel these AI factors. You need to get
(08:39):
some uh you know, electricity and water, things generated. But
I need to get I'm gonna give you a year
because it's gonna be tens of billions of dollars in investment.
And know that I'm committed to this my whole presidency.
This is a new America. And the CEOs go, okay,
we're with you. We want to bring this back. And
by the way, what's what's what's in it for us?
And he has these economic mo shows blah blah blah
(09:01):
period of time, this is gonna be short term pain,
long term game. Okay, none of that happened, so there's
no way. I'm just look, I'm not four against. I'm
just saying I like math. It doesn't have an opinion.
I'm just saying. Stevie, my friend Stevie Wanner can see this.
None of this is going to work long term because
(09:23):
there is no planning.
Speaker 3 (09:25):
So you think, do you think this is a ploy
for Trump to get what he wants? You think it's
a short term play and not a long term play
when it comes to the stats.
Speaker 1 (09:32):
I didn't say I understood it. I said I was
gonna explain it. Look, he's been talking about Terra since
nineteen eighty night go to interviews of him from nineteen eighties.
He's obsessed with it. I have no idea where he
got this from. It's like new math. My calculator works
pretty well. Unless he is the most intelligent being on
(09:54):
the planet, unless he has a whole new way of
viewing economics. I just don't understand it. I'm pretty good
at it. I just don't understand. That's why the markets
are in the tank. That's why you know, CEOs are
scratching their head. But no one wants to say anything
because you don't want to get on his bad side. Look,
I want him to win. I'll say it. He's my president.
Whatever the election is over, he's my president. I want
(10:19):
him to win because if he wins, if he loses.
So this, you know, trying to wish him well and
going to Louisiana hitting getting little the little dolls that
time kind of stuff. No, No, pray, pray for your president,
(10:41):
pray for your country. We're all in this thing together.
Like real talk. But and here's my way of thinking.
Talk without being offensive, Listen without being defensive, and always
leave even your adversary with their dignity, because if you don't,
they'll spend the rest of their life working to make
you miserable. It becomes personal. You got a step over
mess and not in it. He is the President of
(11:03):
the United States of America. He's as you can see
from the executive orders, he's incredibly powerful. He's not a king,
but he has incredible power. And we're going to see
that some of the stuff he's doing as a bridge
too far. It's gonna get reversed. But he has incredible
power with the pen. So we need to walk delicately here.
It's an interesting relationship. I was in a relationship years
and years ago, luckily a wonderful wife JJ. When I
(11:26):
was a kid, I was in a relationship with somebody
who was emotionally immature, which he didn't say much for me.
I picked her, but it was like an emotional Hangarnad.
But I was already in it, and I had to
really be careful. I put that hand Gernad back down
on the ground so it didn't explode and tear me up.
(11:48):
This is where we are. We have to be very
delicate about this situation, and we have to find some
way to help him feel like he won, like I
don't know what it is, but whatever in the next
thirty days, next forty five days. This is not sustainable.
We got to give him some out the country of
other leaders where he feels, yeah, my terror strategy won.
(12:13):
Otherwise this economy will slow and your prices will go up.
You already had inflation from the let's clear something else,
though it's too late for this. Biden created inflation ridiculously
completely wrong. In fact, it was Trump then the Republican
Democrat Congress and Biden. Everybody passed five six trillion dollars
(12:39):
worth of stimulus during the pandemic, so the economy didn't
stall because economy was going to stall when everybody was
in their houses. Because this consumer driven economy and that
plus the Federal Reserve, there's about six seven trillion dollars
actually more like nine to win the economy. That's where
the inflation came from. When you have an imbalance of
supply and demand, so you have too much supply money
(13:00):
the nine of the band, it inflates the cost of
things to.
Speaker 2 (13:05):
All the stimulus checks in the PvP loans. Everybody loved
that part, that.
Speaker 1 (13:09):
Part and it ain't going away, And I said, ain't
on purpose, because there's never been in the history DJ
in the history of the world, there's never been a
trillion dollars of stimulus by any government at any time ever.
And we did nine trillion. Let that sink in. So
how do you think how long you are you gonnaink
(13:29):
it's gonna take for that to work through your transmission system.
So of course we're lucky we don't have twelve percent
on inflation. We're lucky we don't have eighteen percent unemployment.
Like what Biden should have done, he should have come
in and said, I'm gonna be present for four years.
I'm your dude, I'm gonna stabilize everything, I'm gonna drop
the mic, I'm a bounce. I'm only here for four years.
That's what he should have done. He should have said
that up front and been done with his legacy. Would
(13:51):
have been fantastic. But you get in that office. I've
been an advisory for three US presidents. That's intoxicated. That power.
That power is intoxicate. You don't want to leave.
Speaker 4 (14:00):
Really, ask you a question, do you think the government
will so?
Speaker 1 (14:02):
Yes, you should buy a house. By the way, people
don't change your game, don't change your plan, change your mind.
This is this noise is going to ultimately go away.
Three things have never gone down the history of America
GDP Gross Domestic product, real estate's values, and stock market values.
They've gone up. There's a recession, it corrects above the line.
(14:25):
After the recession, it recedes. Recessions, recedes, and then corrects
above the line. Every time somebody might makes an emotional decision,
it's a bad one. Poor people sell in bad times.
What did Warren Buffett say? When people are afraid, be greedy?
When people are greedy, be afraid. Okay, you're about to say.
Speaker 4 (14:42):
Something I was going to ask you.
Speaker 3 (14:43):
I was going to say, you know, with that that
type of thinking, the prices of everything are going to
go up, right in the next couple of months.
Speaker 4 (14:50):
We assume right, build and costs are expensive.
Speaker 1 (14:53):
Interest rates might come down, by the way, metals and
all that. Right, you said, what about intro r They
might come down and inter.
Speaker 4 (14:58):
Come on the same thing would cost which the pres
it is banking on. By the way, So if.
Speaker 3 (15:01):
Somebody these houses and these properties, or they buy these cars,
and they boy these materials, and the prices are up
when this game that we're thinking that he's playing, which
is a short term game, changes back in a couple
of months and he takes these towers offs, and now
those goods are less money you bought when it was high.
Does that hurt help effect? Well, you're assuming the goods
are going to come back down in price.
Speaker 4 (15:21):
If the tower's come off, shouldn't.
Speaker 1 (15:23):
You're assuming that the price is going to back down.
Greed is an interesting thing. You know. There were during
the pandemic there were container companies, the ones who put
the stuff on ships, because we're all run through international trade.
By the way, twenty five percent of the US economy
is international trade. So there was container companies who were
(15:45):
found to be gorging, gouging prices for no good reason.
The prices had, Yeah, temporarily there was not enough of them,
and the prices went up. But then when they kept
the prices high big because it was you know, layering
their pockets. So and Bash or Andrew Jung says that
(16:06):
men and women fail for three reasons arrogance, pride, and greed.
And greed is the oldest thing on the book. The
only time Jesus Christ they ever got upset was when
he turned the table over the money changers in the temple.
That's the only time you get upset. So I think
that because we're the biggest economy in the world, because
it's consumer spending, because capitalists ultimately want to win, prices
(16:27):
will come down to meet the demand of the consumer.
But it's not going to be like flipping a switch
and with somebody in somebody in Washington things. In my
opinion that if you trigger a mild recession, this is
I don't agree with this. You trigger a mi out recession,
you can blame it on the other guy. I don't
agree with that either. I hope this is translating to
(16:48):
your audience when I say the other guy. You blame
it on the other guy, not the current president. You
then get the FED the lower interest rates, which by
the way, helps wealthy people like me but doesn't help
the average every day, and then the economy's booms and
you're golden for midterm elections. Some people believe that. I
(17:12):
just I just don't think that that's rational, and I
think the timing is gonna be all messed up. Even
if that did work, I don't think it's gonna work.
Here's the problem the White House. I've known none US presidents.
I've known twelve. I've worked with twelve Secretaries of the Treasury.
I've been an advisor for three US presidents both parties.
Have been honored by five from both parties. I've never
(17:34):
seen a White House where nine nine percent of people
are either sent to millionaires or billionaires the advisors. Now again,
I'm very wealthy, but I go to the hood once
a month. Yeah, intentionally. I tell my driver wherever I'm at,
take me, take me to wherever the hood is, and
they are all freaked out. I want to see it.
(17:54):
I want to see how we're living. I want to
see those check cashes and pay day long liverers. I
want to go get out and go into a grocery
store or convenienced. I want to listen what's up. I
want to listen to the I want to get in
then uber driver, you know, I want to get in
the taxi.
Speaker 2 (18:05):
You want to talk to the people when people talk
about but never talk to that's right.
Speaker 1 (18:09):
So if you are a cented millionaire one hundred million,
if you're a billionaire, you've been taking private travel for
twenty years now. When I go through I do Delta,
But when I go through, I'm with the coach for
all one hundred thousand Delta employees at operation. I was
on Delta yesterday. Now they picked me up at the curve,
do that whole thing. So it feels like private. But
(18:32):
by the way, I had to like three months ago,
something happened. My greeter wasn't there. I had to go
through the airport term. I was traumatized.
Speaker 2 (18:40):
Cut it out, John.
Speaker 4 (18:45):
Traumatized.
Speaker 2 (18:48):
No.
Speaker 1 (18:49):
I was like, where are these people, Where these people are,
where they're coming from, what they're doing? What? When are
the kids screaming? Why are the lady in here taking
her clothes off? No, I'm just sayingstation. Yeah. My point
is that I'm pretty normal, and I still to me
(19:11):
a minute to readjust to being in an airport term
because I hadn't been there in months. Imagine if you've
been taking private planes your whole life or the last
twenty years. I'm not hate I love it. By the way,
I one day I have private playing somebody else paid for.
You have.
Speaker 2 (19:26):
People have no idea what's going on?
Speaker 1 (19:27):
That's right. You've never been in a grocery stores, right,
You've never been no gas station. You even been to
a bus station. It's impossible.
Speaker 4 (19:34):
You should fly Southwestern Spirit one time.
Speaker 1 (19:35):
You're getting no. I'm good. But it's impossible to make
policy for the average person if you.
Speaker 2 (19:41):
Don't understand not connected to them in any way. And
that's what I wanted to talk about, Like, I love
the conversation you were having, but I want to put
some boots on the ground with it. When you talk
about these working class people, the average everyday person living
check the chech, just trying to pay their rent, just
trying to buy groceries, what should they do in regards
to these tasks? Like could you tell you know you're
telling everybody else just to be cool and silace noise.
They don't have that luxury.
Speaker 1 (20:02):
Oh no, this is our time. I mean, you can't
fall from the floor. Black folks, we've been in. Brown folks,
we've been We've been doing so much with so little
for so long. We can almost do anything with nothing.
I mean, a crisis for us is Tuesday. That's right,
We've been dealing with crisis. I mean, we wake up
in Christ this is actually our asset and our problem.
Before now it was just our problem. I wrote my
(20:22):
last book of financial literacy for all, which, by the way,
thanks for helping me launch. It's still number one a
year later. In business finance, not black just black history.
If something is business finans in the world. But two
books before was a book called the Memo, And in
the Memo I said, basically, there's something that is what
we don't know that we don't know. No one gave
us a memo on how the economy works, and I said,
(20:42):
there's three times of people. There's a surviving mindset, there's
a thriving mindset as a winning building mindset. Wealthy people
talk about their ideas. Poor people talk about other people.
So if you have a surviving mindset that the glass
is half empty, not half full, it's the same glass.
But whether you believe you can and whether you believe
you can't, you're right. So to your point, in a
(21:03):
normal environment, the surviving mindset is at a significant disadvantage
because your ability to hustle has no value whatsoever. Your
ability to avoid a bill or avoid a one eight
hundred number was at Chris Rock said, I don't know
if I want a one eight hundred number. I'm not
answering the phone as a bill collector. Our ability to maneuver.
The system has no value in a growing driving economy.
(21:26):
You got to build something, buy something, do something, roll
with something, understand something. But when things are tough, that
understanding is actually an asset. So now we need to
take that understanding, pull it forward and start doing basic stuff.
Go get yourself a term life insurance policy. You can
get it for ten bucks a month for a fifty
(21:48):
dollars if you're in good health. Twenty five thousand and
fifty thousand dollars policy is little ten dollars a month
because I don't know how long you're gonna live, but
I dang sure to know you're gonna die. So there's
your generational wealth for one hundred bucks a month if
you're in good health. A million dollar policy DJ a
million dollar policy. There's your generational wealth right there. Go
get you a term life insurance policy. Create a will.
(22:10):
My mother's hid. She had a little inner will. She
worked an hourly job for thirty two years, and she
bought and sold in seven home. She had a credit
score of five eight fifty four when it went that
high she died. She had a million dollar networth in
her will was a poison pill. Anybody who pushes back
on this will is deleted from it. Crickets. Nobody said
(22:32):
anything but my mother worked an hourly job, had a
million dollar networks, which means anybody can do it. So
she had a will, she had a life insurance policy,
she got her earned income task credit. So what's that.
Anybody listening to this who make less than sixty thousand
dollars a year get EITC. If you make thirty eight
thousand dollars a year, you listening to this, and you're
(22:52):
in a town anywhere, and you have three children, the
government owes you sixty five hundred dollars cash if you
never file. Is retroactive for three years. So anybody listening
to this who makes forty thousand dollars and goes, what
did he say? You have a check.
Speaker 4 (23:06):
So that's two three children, No, no, any of the
word children.
Speaker 1 (23:09):
Anybody makes sixty thousand dollars or less, you get a check.
The less money and the more kids, as long as
you're working, the bigger the check. So the sweet spot
thirty eight forty thousand dollars three kids. But if you
have forty five thousand dollars in one kid, you still
get a check. And one of the four Americans who
qualify for EITC never asked for it. That's twenty billion
dollars a year. That's not going away. Got you child
(23:32):
task credit Local. Everybody needs to become like it. We
need to become nosy. Everybody's reading the Constitution Bill of
Rights right now, Like, what's these executive orders? I want
you to learn about financial literacy now, this is your
time to surge. Whatever the city programs are, the state programs,
the federal programs. Banks do down payment assistance for poor
people dj envy. In fact, the worse it gets, the
(23:54):
more the more the banks want to dig in. So
a bank, an FDIC insured bank, if you can get
your score up, and we can help you do that
at Operation Hope. And that's the other thing you need
is get your credit score up. The banks will give
you ten thousand dollars and a grant. Plus undermarket mortgages.
So even though the mortgage a rich person might like me,
might be six and a half percent used to be
(24:18):
I got a two. I got a two point seven
percent moving down never I'll never get rid of that one.
But you can't get that anymore. But for community reinvestment
at cra you might get it for four percent five
percent plus you get a ten thousand dollars down payment
assistance grant that's only available to the least of these
God's children. But we don't know about it. So I
just now covered home ownership earned income task credit is
(24:40):
your down payment maybe for homeownership financials. Get your credit
score up. We have this meeting on April fourth, tomorrow,
a Dream four. We will talk about it. And we
got a business plan for Black America, business plan for
Latino America, business plan for women, a business plan for Asians,
a business plan for Native American Indians. I wrote them,
A business plans for poor whites rural America. I wrote
(25:03):
all the plans, and in one plan it shows that
if you rely on the government black people, first off,
you do nothing, our network will be zero by twenty
fifty three, not poor people, everybody. If Black Americans do nothing,
but what we're doing right now, just chilling net worth
(25:23):
by twenty fifty three is zero. If we rely on
the government, which we've been obsessing about since the Civil War.
Understand the Civil War, Understand Reconstruction, Understand the Civil Rights movement,
Understand the Second Reconstruction, I don't understand. Now, we're all up, uptight,
worked up about what's going on in Washington. Let's assume
they get a deathbed conversion and they decide they'd love
black people overnight. They gonna give us welfare, It'll give
(25:45):
us reparations. Everything that's not gonna happen. But no, but
it's worth three hundred billion to a maximum of six
hundred million dollars. Now hold that number by twenty fifty three,
that's only twenty five years from now. If you raise
your credit score one hundred points, a lot of people
have the lowest credit score on average in America, six
to twenty, which means half of us wake up in
the morning locked out of the free enterprise system, can't
(26:06):
get a decent car loan. You go to the car dealership,
you get a Mercedes eighteen percent interest. It's out of Mercedes.
It's Mercedes payments, and it breaks down in four months
because the number one way they make money is maintenance
and finance department. They don't even make any money selling
the car. They wait if you to bring it back
to actual literacy. But if you get your credit score
up one hundred points, that's seven hundred and fifty billion
(26:29):
dollars by twenty fifty three. That's one hundred and fifty
billion dollars more than the best estimate of the government's assistance.
And we can do that by ourselves become homeowners. That's
eight hundred billion dollars separate from the seven d and
fifty billion dollars. That's one point five, give or take
trillion dollars. And that doesn't even require the government. We
(26:49):
can do this our salves. There's another trillion dollars on
buying businesses. Am I going too far too fast? They
got to do their research.
Speaker 4 (26:57):
They break down is you know, there's tiers when it
comes to credit.
Speaker 3 (27:02):
So like when you're saying, somebody go into a car
dealership and they're trying to buy he said, a Mercedes.
It's a mercy dealership, right, a mercy note. So if
your tier is four or five or six, forget about it.
Speaker 1 (27:11):
Yep.
Speaker 3 (27:11):
Credit rate if your car is usually four hundred dollars
a month is going to be eleven hundred dollars a month.
But if you have Tier one credit, you probably have
to put down less money and your not there's only
four money just based off your credit.
Speaker 4 (27:22):
Same thing with home ownership.
Speaker 3 (27:23):
Same thing with credit cards, that you buy the store,
whether it's Nordstrom, Sears, JC, Penny Macy.
Speaker 4 (27:27):
So that's what he's saying. As far as the tiers
when it comes to credit.
Speaker 1 (27:30):
Yeah, let's go one step further. The place is where
we grow up. Check casher, next to a payday loan lender,
next to a rent own store, next to a title lender,
as in the title of your car. Yep, pawn shop,
liquor store right there, church down the street, the church,
(27:51):
your lovel therapist. They trying to make sure you don't
go craik cray once a week. Make sure you don't
go postal on Monday. All right. And by the way,
poor white same you go to a poor white real neighborhood,
check cash or pay day long line to rent their
own store, title in the liquor store, they just pray.
The church, they just pray differently. They're quietly loud.
Speaker 2 (28:10):
Oh you got about the Fried Chicks bar too, yeah?
Carry out?
Speaker 1 (28:13):
Well yeah, yeah, fast food. By the way, you lived
to sixty one years of age. I mapped every zip
code in America by credit score. You lived a sixty
one years of age in a five hundred credit score neighborhood,
you lived to eighty one years of age, fifteen minutes apart.
In a seven hundred credit score neighborhood, you live twenty
(28:34):
year longer life because of your credit score. And it's
not about the credit score, it's the trending indicators underneath
that hope, well being, faith, confidence, belief, optimism. What disease
is often diseased. Keep keep your stress level, so again,
surviving mindset. You have a surviving mindset. You're stressed out,
you're full of anxiety. If you hanging around nine bro people,
(28:55):
you'll be the tenth. You're up, you're toe up from
the flow up. You're gonna die early, and you're eating
bad food. So this is a game. Man, What did
Malcolm X say. We've been bamboozled, We've been tricked, we've
been food, we've been hoodwinked. Here's one for you. Everybody
wants to start a business. I love that. I've got
this thing called one million Black Business Initiative SHOPIFI put
(29:16):
up one hundred and thirty million dollars up to George
Flord's murder. They just announce it, putting up another sixty
million to help me get to one hundred and ninety
million because they can't be happier with all the businesses
that are black businesses that are now on the Shopifi platform.
It's not d and I is good business. By the way,
the president of Shopifi speaking at the Martin Luther King
Dream Florid Initiative, Harley Finkelstein, it's business for them, which
(29:37):
is which is.
Speaker 2 (29:38):
What we want now, inclusive economics.
Speaker 1 (29:40):
Inclusive economics, which you helped me pioneer, by the way.
So so okay, so stick with that for a minute.
So we at all these business business people. They want
to be business people now. They want to start a
pizzeria or something in I need fifty thousand dollars. You
do a GoFundMe or whatever it is, and you hustling.
It's in the bank. One give the money. They want
you to personally guarantee your house. All that stuff easier.
(30:01):
It is easier for somebody to go to Wall Street,
which is where we are, and get finance a twenty
million dollar business with non recourse debt, which means you
don't personally guarantee it, than it is to start a
pizzeria with one hundred thousand dollars loans from the bank.
Now that doesn't that to your audience sounds absolutely crazy.
Let me break it down. We have the first generation,
(30:23):
our generation where you're gonna have more people over sixty
five than underage than under eighteen. These are white, wealthy
baby boomers, all trying to go retire and play golf
at the same time. So there is a's about four
hundred three dollars of wealth in the world. About one
hundred and eighty treeing of that is in the one
hundred and eighty training that is in the United States.
(30:44):
About fifty training of that was created since twenty twenty.
I'm trying this is. These are this is are ridiculous numbers.
Fifty threeing of that was just created in the last
twenty five years. These baby boomers made a crapload of money.
They're bawling billionaire sent to millionaires. They want to go
play golf, they want to enjoy their life, they want
to be on their yacht. God bless them. They're all
(31:05):
leaving the stage at the same time. Forty percent of
this country is now black and brown. That's why everybody's nervous.
By the way, black and brown. He's the new interest
of the economy within ten years, it's going to be
a majority of minorities. By the way, A thirty economies
women seven trillion dollars. So it's black, brown women, right.
Some people are nervous about who's taken over. This is
a whole other conversation with this is fueling political the
(31:28):
political environment. By the way, in my opinion, which is
what you're singing in Washington, go back to the numbers.
So now, what's happening with this tree, the one hundred
tree and dollars with the word of wealth, DJ ANDV
is about to transition through inheritance in the next ten years.
The wives and the husbands and the kids wants the stocks,
the bonds, the cash and the houses. They don't want
(31:51):
the businesses. Elone, I'm good. I don't want I don't
understand it. I don't want to do it. I want
to go enjoy my life. Their generation makes it, taking
generation spends it, third generation loses it. But don't mind
me with the facts. I've already made up my mind.
I want the cash. That means there's about fifteen trillion dollars.
(32:11):
Please audience, listen to this. This is making smart sexy
on scale. Does fifteen trillion dollars are profitable, successful, branded
real estate, having client having nothing wrong with them, businesses
that nobody wants go buy them. They're already cash flowing.
(32:35):
There's nothing wrong with them except the kids and the family.
Speaker 4 (32:39):
Don't want them too comfortable.
Speaker 1 (32:41):
I don't know what it is, but it's an opportunity,
that's what. So I think I started this by saying
rainbows after storms. You cannot have a rainbow that a storm. First,
don't look at a problem as a problem, look at
it as an opportunity. All capitalism is is solving problems.
So yes, it's going to get tight. We used to
type black folks are born on probation in the America.
(33:04):
You gotta be twice as smart, twice as intelligence, twice
as world dressed, get up twice as early, stave twice
as late, and worked twice as hard and hustle and
getting no credit for it. Okay, what else is new?
This is? This is our life story. Everybody else is
not used the problems. They're the ones that are going
to be dropping off of one story buildings. We're going
to counsel our white friends about calm down. This is
gonna be okay, so I'm actually quite optimistic about the future.
Speaker 4 (33:29):
So what are you doing this weekend? You're doing something
specialist weekend.
Speaker 2 (33:32):
Dream Forward, a virtual town on financial inclusion. That's why
I love John because you always have a solution, you know,
one any people that's just always constantly talking about problems
and trying to profit off the problems. He's creating solutions
to the problems.
Speaker 1 (33:43):
Uh yeah, So dream Forward, thank you, Dream Forward. What
you're what you're involved in, and I would love to
have all of you involved in, by the way, because
you're all voices for this generation. This is uh, this
is a meeting between Republicans and democrat We have Second
Senator Raphael Warnock, who is the fifth chap pastor of
(34:05):
Ebenezer Church and a Democratic Senator. We have Mick Molvaney,
former chief of staff for Trump. We have the black Pope,
Bishop T. D. Jakes. We have the man who was
on the balcony with Doctor King, Ambassador Andrew Young. We
have doctor King's daughter, Doctor Bernice A. King. She's a
great person. We've got the Mayor of Memphis, Paul Young,
who's black. Now, by the way, We've got uh, the
(34:28):
CEO of Walmart. We've got Doug McMillan, who's co chair
of Financial Legacy for All, which is doing the Green
Socks Day. By the way, we can talk about if
you want, d I. I'll be happy to talk about
that as well. People have misunderstood that as well, in
my opinion. We've got killer Mike t I Van Jones.
(34:48):
I'm just going off the top of my head here
Ray MacGuire of Mazar to sign a ducket who runs
a two trillion dollar company called t I a Kraft
which is just basically pension funds, all your pension funds
and of estimas a council probably with t I a Kraft.
It is an amazing lineup. I just talked to doctor
Ben Chavis this morning. There's one hundred delegates, Bounty, delegates
(35:10):
of Mark Morele, the National Urban League, everybody who you
think of or may or may not have known about
who is at the top of the mark. They are
going to be there. In fact that we just now
yesterday the dropping the drop the Mike keynote to walk
out the stage is Sam Altman, who is the Steve
Jobs of this generation. That's AI. So it is a
(35:32):
way to honor doctor King, not by just marching in
the streets but cutting business deals in the suites. It
is continuing his unfinished work of the Poor People's Campaign.
It is his last book. Wherever we go from here,
it's answering that with a dream forward and there's no complaining.
There's no politics, there's no whining, there's no talking about politicians.
(35:56):
This is about us moving forward for two hours, a
positive plan, and we're gonna leap. Tomorrow people will be
able to download the business plans we wrote and can
and you can have it. You can talk about at
the kitchen table, you can mark it up, change it.
But this is full transparency. We wrote a plan. Typically
this happens behind closed doors. We've written these plans and
(36:17):
they will be available to everybody as of tomorrow morning.
People can register at Operation dot org and actually listen
to the global town Hall. Roland Martin is gonna be
streaming it. You guys are gonna be there. We've gotten
I think that the Associated Press is gonna be there.
We have all the networks who have moderators part of it.
We've tried to be as inclusive as we can.
Speaker 2 (36:38):
We should streaming Nick, we should screaming it. We thought
about it.
Speaker 1 (36:42):
We got a video yesterday from from the new chairman
of the Senate Bank Committee. Uh, Tim Scott Brother, what
time it's It's one to three pm Eastern Standard time
April fourth today. Yeah, and it's noon to two Central
Standard time. Doctor King, by the way, was assassinated April fourth,
(37:04):
nineteen sixty eight, at six pm Central time. That's the
exact time he He actually had a pillow fight. Right
before he was assassinated. He had just relaxed, and he
knew he was gonna be He knew he was gonna
be killed. The night before. It was the only time
he ever collapsed on stage. He gave a speech called
the Mountaintop. I've been to the mountain. I've seen the mountaintop.
(37:26):
I may not get there with you. He knew it,
and he collapsed in his and Andrew Young and Jesse
Jackson's arms and others. And the next day they Andrew
Young tells me they had this incredible pillow pillow fight
in the hotel. Will be at the Lorraine Hotel, by
the way, I will tomorrow let me today. And he
(37:46):
just thought it was eerie that Doctor King was so
light and he walked on that balcony and the world changed.
And what nobody knows is later on the FBI told
and Basher Young instructions for the shooter was if you
if you missed, the dreamer killed the strategist. That's Andrew Young.
(38:09):
So he hasn't been able to sleep for all these years. Wow.
The guy who created the OSSI and it Harrietville for
black people in the world. Atlanta, Georgia is the only
international city in the South, five hundred and fifty million
dollar economy, the same size as Singapore, by the way,
so we proven we can build a world economy. The
guy who did that brought the Olympics to Atlanta, the
(38:29):
only mayor of it, mentored by doctor King. Can't sleep,
so we owe him a debt. We owe all the
heroes and heroes and leaders who came before us a debt.
We owe those who are trying to fight for our
civil rights now a debt to carry on this work
and not just to be about me, but to be
about we. This is you can't just be selfish anymore.
(38:53):
Like we have got to be about all of us,
and this is this is our time. If you want
to be a part of history, you want to feel
like your life really mattered. It's right now m hm
in my opinion, and there are answers to these questions.
I mean, there's nothing that we talked about this morning.
That's rocket science.
Speaker 3 (39:11):
Tune in tomorrow and forward on financial inclusion. And what's
the website again?
Speaker 1 (39:17):
Uh? You can tune in at Operation Hope dot org
where you can register at Operation Hope dot org and
it will stream and hopefully the Breakfast Club and I heard,
by the way, is covering it. Black Information Network is
covering it. Uh, we have many many maybe platforms. Again,
Roland Martin is gonna be covering it, and we have
our own strength. If you get lost, just go to
(39:38):
Operation Hope dot org and you there'll be instructions there,
or just follow Charlottmane'll he'll, he'll be with us. Uh.
But but this is you know, this is this is
no time to be, This is no time to be.
I understand stress, and I understand this is serious. But
unless you just gonna give up, throw your hands up,
(40:01):
you might as well be positive about it. I can't
guarantee you that being positive is gonna make you succeed,
but I absolutely guarantee you the being negative is gonna
make you fail, absolutely, And these folks want you to
give up, by the way, they want you to throw
your hands up. That's why they did all this stuff
in the first sixty days, was to flood the system,
overwhelm you, so you throw your hands up and you
(40:23):
give up. No, no, we're not gonna give up. We're
gonna double down, and we're gonna be a north star.
What I want at this meeting is civility. I want
us to be civil. I want us to be inelegant.
I want us to be intelligent. I want us to
be thoughtful. Emmy university has already signed up to work
(40:43):
on the plan. They were so impressed with what we
were doing. Their economics department said, this is a great plan. We,
along with the clock Atlanta University Business School, will work
the builders out for six months between now in the
whole global forum in December, where we have another version
of the plan and everybody gets to participate in that.
Everybody but the one hundred delegates will get to participate
(41:04):
and help to shape the plan. So what's going to
be announced at the meeting is going to the framework
of the business plan. I talked a little bit about
that today I mentioned there's seven and fifty billion available
just for black This is the Black American plan through
credit score increases. We can do that ourselves. I'm doing
that at Operation Hope Creasing. Increasing credit score is fifty
(41:24):
to one hundred points. By the way, don't pay anybody
to raise your credits that you don't need that. We
do it for free. You can be a homeowner. Forty
four percent of Black people own a home, compared to
seventy five percent of our white counterparts. The number one
way you build wealth in America is homeownership. Brothers be
talking about oh job, Brian always talking about owner a home.
(41:47):
I don't own the home. The bank owns a home.
If you don't pay. In fact, if you don't pay,
if I own the home, if I loan you the money,
I'm on own the home. Like capitalism, we've got to
stop being emotional. Also man like capitalism is a gladiator sport.
Here's capitalism. This is a table. You're on one side, DJMIV,
(42:10):
I'm on the other. You're you're the capitalist, I'm the consumer.
Your job is to extract as much money from me
while giving me the least. My job is to pay
you the least while getting the most. This is my job,
and that is your job. And every successful negotiation is
where everybody leaves it slightly annoyed. That's a success. You know,
(42:34):
you've been in real estate. You know that to be true.
If somebody's too happy and somebody's too sad, somebody got
messed over. That's going into a car dealership in the hood. Right.
So it always drives me nuts when I hear these
artists talking about, oh, oh these I'm gonna go to
some taboo areas. Oh these jews in music business, they
(42:54):
robbing us. First of all, you weren't saying that when
you when they gave you a record contract. And this
is not the clans man, this is not this is
not nobody forced you to side a contract. You should
have got your attorney. It's that that person's job is
to negotiate the best possible deal for themselves. Their job
is not to give you anything. Their job is to
(43:15):
take every dollar they can off that table. Your job
is to read your contract and negotiating. And I don't
want to I just want to do music. Well, you're
about to get robbed. Quincy Jones told me God rest
his soul if you think you're in the music business
and you don't own music rights, publishing rights, or licensing
rights or some kind of rights. You're not in the
(43:36):
music business. You're a temporary performer. It's a music business.
It's the business of music. So your job is to
go to an attorney and read the contract, hab it reviewed,
come back with changes, redline notices. Charlemagne reads his contracts.
I know that. Go back, say no, I don't like
this part. I don't like that part. I don't want
(43:56):
that advance. That's a loan, that's what it is. It's
a loan negotiate. I want to do what they do
in the NFL. I want a signing bonus. I don't
want to loan renegotiate. But you can't come back four
years later because life didn't work out for you, and
then say you are racist all of a sudden. No, no, no, no,
that's a good negotiator. You should be applauding them. Actually,
(44:18):
they did their job. So I'm just trying to make
it plain like we have got to knock it off,
like we've got to when the rules are published in
the playing filler's level, we kill it. Look at you guys,
you're the biggest in the planet because you know what
you're doing. Sports, we kill it, the arts, entertainment, music,
(44:41):
we kill it. Faith, we kill it. Politics, even President
of the United States, we kill it. Obama, we went
to the top of the mark. Why can we do
it in capitalism? I mean, I'm just asking. It's not
like we did it ried and it didn't work. That's
(45:02):
why I started out with these numbers about the government.
We've been obsessing about the government. We've been at this
trough for too long. They're kicking us out. We should
want to leave. They're kicking us out. That's what the
that's what's happening in Washington. But we should have left
forty years ago to build our own that part. That's right.
Speaker 3 (45:21):
Well, today it's going to be a financial inclusion Dream
Forward is a virtual town hall.
Speaker 4 (45:26):
And we appreciate you for joining us. Ways, brother, thank
you so much.
Speaker 1 (45:29):
I love you.
Speaker 2 (45:29):
And make sure you subscribe to John O'Brien's podcast, the
Money and Wealth Podcast on the blackfact IEARTVEO podcast network.
You can get information like this.
Speaker 1 (45:36):
By the way, time is by the way, it's top
five percent of all podcasts. I was stunned. I was
looking at it last night. It's number thirty two on
the Entrepreneurship podcast for Everybody love It on Apple and
it's top five percent. So our people really do want
to know, like how does this stuff work? Like they
really do. I had eight hundred million video views in
two years. Now, that's nothing to you, guys, but I'm
(45:58):
talking about some boring talking for money. So every and
every week something hits a million views, one of my
videos gets and people like you used to look at
it and it's like two thousand years, eight thousand years,
ten thousand years. People are people want to know how
this game worked. Tell me how this stuff works, Joan,
(46:18):
But no one's broke it down to him. They I
don't know. I don't know what to see successful people.
I can't figure it out. I don't know if we're hiding.
I don't know if they're afraid. I don't I don't
know what it is. They want to keep it all
to themselves.
Speaker 2 (46:33):
I was in, Uh, I can't And John's giving it
to people, not selling it to people. What a difference.
Speaker 1 (46:37):
What did jay Z say, I'm giving you? His four
four four album was a financial literacy album. We're talking
to him about the way about a partnership with financial literacy.
He said, I'm giving you a million dollars or a
game for nine ninety nine. I'm giving you for no.
Ninety nine. I was at this meeting, which I can't
say what the meeting was, but it was a very
meeting of billionaires in Florida early last year, and I
(46:58):
couldn't figure out, why are these wealthy people we're discouraging
home ownership. I'm in this meeting and they don't. They
want everybody to rent, and they're trying to tell me
that people don't want to rent anymore. And I'm like, well,
you know, I was born at night, but not last night.
Like I read the newspaper and I read report and
(47:21):
I got data, and my data says that most people
actually want to own a home, they don't know how to.
And I think I figured it out because it makes
no sense to me that my rich friends would tell
you not to own a home, own a home. The
rich people telling you not to own a home, own
probably three by the way, this might be an interest,
(47:42):
by the way, it's just capitalism. I don't I'm not
I'm not hating them. When you think about uber Left,
I know. By the way, we partner with Uber. I
love I love Dana the dire of the guy who's
CEO that's renting you a ride. You can rent an
RV help me out here, you can rent, you can rent,
dang there anything. Now, it could be that people are saying,
you know what, we're gonna own all the houses and
(48:03):
all the assets. Y'all just rent, Just rent your life.
You know your generation, you just want to we'll have fun. Fine,
if you want to be ignorant. Sorry, if you want
to be cool, you gon rent your life. We'll own it.
We'll take care. Don't worry about it. We'll take care
of it. By the way, I'm a landlord, but I
(48:24):
want you to move from rent to own. I don't
want you staying with me forever. I don't want you
working in McDonald's for your entire life. I would say Walmart.
But by the way, do you know that if you're
a if you're a general manager of a Walmart, you're
making a million dollars a year. Did you know that?
(48:45):
That's stunning to me? It is. If you're working one
of these big box retailers, you're making as much as
a million all the year. I almost passed out this
opportunity everywhere. People have got to become obsessed with financial
literacy and AI Literateye, everything is going to change by
twenty fifth, twenty thirty, sorry, by the next five years.
(49:06):
If you got a high school education and you lazy,
and you chilling, you messed up, you toe up from
the flow up, this world's gonna leave you absolutely behind.
Van Jones will be at the meeting said that ninety
nine percent of white people Black people don't know a
thing about AI, but nine nine percent of white people
don't know a thing about AI either. This is mutual discrimination.
(49:28):
And if you're an accountant, your job might be gone
because AI is going to remove it. If you're in
an attorney, your job might be gone. But if you
can master artificial intelligence, everything's going to change. You want
to ride the horse of how AI accounting is going
to be next, or law's going to be next, or
what you've seen robotics and automation technology completely transform radio
(49:49):
and media. So this stuff is changing underneath our feet.
If you're working at a CVS or a grocery store,
you went into one five years, AG go ten counter
clerks at the rest of the grocery store, one tester
line for self checkout. Go to the same grocery store today,
(50:10):
ten self checkouts. One teller tell me, I'm lying. Go
to cb as a Walgreens. You might not see a
teller all at all. Go to the go to the
go to the airport, and go to the fast food restaurant.
It's a tablet. It's happening right in front of us.
(50:33):
Folks have got to be obsessed about what we're talking
about here. Your life literally depends on it. And if
we master this, this country can't survive without black and
brown people and women. God has a sense of humor.
I'm done. When I was here last I said this,
but I'm gonna double down. It's never been in the
history of the world. You cannot be a global economy.
(50:56):
You cannot be the world leader unless you're the economic leader.
There's never been a power that was in the economic
power at the same time. Rome, France, Germany, whoever it was, Britain.
We're the world leader with the economic leader. There's never
been a situation where relied on the northeast to sustain that. Ever,
in nineteen fifty America was ninety percent white, not eighteen
(51:19):
fifty nineteen fifty. America is down incredibly diverse, and there's
not enough college educated, successful white men to drive GDP
Gross domestic product for the next twenty years. There's just
not enough of them. I want every one of them
to be successful, there's just not enough of them. So,
(51:40):
unless we want to be speaking Mandarin in twenty years,
my rich friends eat, my poor friends do better, if
only to stay rich. They actually need us. I'm gonna
say something real crazy. Even the Klansmen, even the racist,
the most racist white person you've ever met, succeeds when
(52:03):
we do well.
Speaker 3 (52:06):
Today, tune into Dream Forward, a virtual town hall on
financial inclusion, and we appreciate you for joining us.
Speaker 2 (52:13):
Operation Hope.
Speaker 1 (52:14):
Thank you, John.
Speaker 4 (52:14):
It's John Hope. Brian, It's the Breakfast Club. Good morning.
Speaker 1 (52:17):
Wake that ass up in the morning. Breakfast Club.
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My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.