Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Front and center and the Trump administration right now is
affordability for all of us. And this time of the year,
there's a lot of spending going on, so a lot
of people are paying attention to their wallets and their accounts,
and holidays are fun, and it doesn't seem we're pulling
back anywhere, but there are some indications that, you know,
it's starting to really be a bit of a thing
that the President needs to address. And yesterday he was
speaking at the White House about the affordability before he
(00:21):
heads to Pennsylvania to continue working on this crisis.
Speaker 2 (00:24):
We inherited a mess affordability.
Speaker 3 (00:28):
But you can call it affordability or anything you want,
But the Democrats causes the affordability problem, and we're the
ones that are fixing it.
Speaker 2 (00:37):
So it's a very simple statement. They caused it, were
fixing it.
Speaker 1 (00:41):
All right, and and joining us now to talk a
little bit more about all of us. Ron Glasgow is
a financial strategist with Glasgow Investments.
Speaker 2 (00:47):
Ron, welcome in, thanks for being here.
Speaker 3 (00:49):
Yeah, thank you very much, appreciate being on.
Speaker 1 (00:51):
Yeah, So the President seems to be pretty optimistic about things.
There's some good indications that twenty twenty six will turn
the corner for all of us, and the tariff's obviously
big issue in twenty twenty five. What's the FED doing?
He's not real happy with Jerome Palell. We know that
will there be another cuts? Do you believe in the rates?
How do you think we're gonna wrap this year up?
Speaker 3 (01:09):
Yeah?
Speaker 2 (01:09):
I do you know?
Speaker 3 (01:10):
I think you know they take bets on this, almost
like the line on a football game in Vegas these days,
which is kind of interesting. But if you look at it,
I think that everybody's started to get a rate cut
now and we're already kind of keeping over this one.
I'm looking and saying, okay, what about next year? How
many rate cuts will we have one or two or three?
But this one I think is pretty much I have
it for that's that you never know. Jerome Powell has
(01:32):
for Gon to be his own man. So we'll see
what happens tomorrow.
Speaker 1 (01:35):
I was going to say, this is not today. They're
going to be talking about it and meeting about it,
but the big decision, I guess we'll all see tomorrow, right.
Speaker 3 (01:42):
Correct, Yep, Tomorrow's when it happens.
Speaker 1 (01:44):
Okay, So in your crystal ball, do you think we
go a quarter points. I don't think we see the
half point, but I think he gives us a little soon.
Speaker 3 (01:51):
Yeah, I definitely don't think we see a half point.
If I had to put money on it, i'd put
money on that quarter point cut.
Speaker 2 (01:57):
All right, when you see that, Now, that's a nice
boost for us.
Speaker 1 (02:00):
That's good. How does that roll over into twenty twenty six?
As far as you know, consumers are concerned?
Speaker 3 (02:05):
Yeah, you know, this is why I think people people
get a little too wrapped up and what the what
the rate cuts are? I mean, if you remember what
the what the rate is is this the federal funds rate,
which is the overnight rate that banks get charged to
borrow money so they have the right amount of deposits
on hand. This goes way back to the Great Depression
when they're a run on banks, So every single bank
(02:26):
has to have a certain amount of cash on hand,
depending on how many levels they have out. Now today
it's all electronic. It's like you actually have the money
stacked into a vault. But that's what that rate rate represents.
It represents the amount that those banks can borrow. So
it really doesn't doesn't directly translate to mortgage rates. Or
other things. Although I think your everyday people sort of
have adopted that belief and they think that, Okay, if
(02:49):
the rates go down to quarter points and my mortgage
rate's going to go down a quarter point. It does
not work that way. And in fact, if you look
at the last few rate cuts, what we've see in
is is kind of harmed consumers, so being that your
savings accounts have gone down, but the mortgage rates and
things have been in the state right there at that
same level. So that's just one lever that they pull
to run the rates of the economy. But people need
(03:11):
to remember what that rate really represents, because it isn't
just a bod broad spectrum cut across every interest rate
the consumers utilize, right.
Speaker 1 (03:18):
Right, and then mortgage rates not necessarily are aligned with that,
but they kind of run as cousins together.
Speaker 2 (03:23):
But all right, quick question before we go round.
Speaker 1 (03:26):
You run a big financial investment company, Glasgow Investments. What's
the one thing that keeps coming up from your investors,
your people, your client's customers of concern when you start
talking about investments.
Speaker 3 (03:37):
Yeah, so, I think I think there's too they they
think the first one is prices of the second one
is jobs and unemployment numbers, and that's kind of the
one that's scaring people looking into the future. The prices
are and you know, it's we have inflation under control
right now, and that's the great I think the Teve
administration has done a terrific job of getting out in check.
But the problem is we have that massive run up
(03:57):
under the last administration. So you know, you know, I
know I need a radio spot. A couple of months
ago and you know, inflace, you came into three point one.
I'm sorry, I came into three point zero instead of
three point one, and the market shait all time highs.
That's terrific. But if you're an everyday person just going
about your business, you're still paying that three percent on
top of that massive run up that already occurred, and
(04:19):
it's just, you know, it's really hard to fight and
pull those prices back. That's that's the big thing, is
just everything is so much more expensive than it used
to be this time last year. The other one is
looking forward. I mean, you're starting to see a lot
of companies cut jobs. I mean Amazon cut thirty thousand jobs,
thirty thousand and it virtually made no headlines. So we
see things like that, people are worry about their own
(04:41):
jobs and that is a valcan start going into the
new year.
Speaker 1 (04:43):
Yeah, it's a big number, thirty thousand, but when you
have three million employees, I mean right, I mean they're.
Speaker 2 (04:48):
Big, big, bad companies. But still a lot of people
are looking out there because of that. Ron Glasgow, thank you, buddy,
I appreciate you. Glasgow Investments
Front and center and the Trump administration right now is
affordability for all of us. And this time of the year,
there's a lot of spending going on, so a lot
of people are paying attention to their wallets and their accounts,
and holidays are fun, and it doesn't seem we're pulling
back anywhere, but there are some indications that, you know,
it's starting to really be a bit of a thing
that the President needs to address. And yesterday he was
speaking at the White House about the affordability before he
(00:21):
heads to Pennsylvania to continue working on this crisis.
Speaker 2 (00:24):
We inherited a mess affordability.
Speaker 3 (00:28):
But you can call it affordability or anything you want,
But the Democrats causes the affordability problem, and we're the
ones that are fixing it.
Speaker 2 (00:37):
So it's a very simple statement. They caused it, were
fixing it.
Speaker 1 (00:41):
All right, and and joining us now to talk a
little bit more about all of us. Ron Glasgow is
a financial strategist with Glasgow Investments.
Speaker 2 (00:47):
Ron, welcome in, thanks for being here.
Speaker 3 (00:49):
Yeah, thank you very much, appreciate being on.
Speaker 1 (00:51):
Yeah, So the President seems to be pretty optimistic about things.
There's some good indications that twenty twenty six will turn
the corner for all of us, and the tariff's obviously
big issue in twenty twenty five. What's the FED doing?
He's not real happy with Jerome Palell. We know that
will there be another cuts? Do you believe in the rates?
How do you think we're gonna wrap this year up?
Speaker 3 (01:09):
Yeah?
Speaker 2 (01:09):
I do you know?
Speaker 3 (01:10):
I think you know they take bets on this, almost
like the line on a football game in Vegas these days,
which is kind of interesting. But if you look at it,
I think that everybody's started to get a rate cut
now and we're already kind of keeping over this one.
I'm looking and saying, okay, what about next year? How
many rate cuts will we have one or two or three?
But this one I think is pretty much I have
it for that's that you never know. Jerome Powell has
(01:32):
for Gon to be his own man. So we'll see
what happens tomorrow.
Speaker 1 (01:35):
I was going to say, this is not today. They're
going to be talking about it and meeting about it,
but the big decision, I guess we'll all see tomorrow, right.
Speaker 3 (01:42):
Correct, Yep, Tomorrow's when it happens.
Speaker 1 (01:44):
Okay, So in your crystal ball, do you think we
go a quarter points. I don't think we see the
half point, but I think he gives us a little soon.
Speaker 3 (01:51):
Yeah, I definitely don't think we see a half point.
If I had to put money on it, i'd put
money on that quarter point cut.
Speaker 2 (01:57):
All right, when you see that, Now, that's a nice
boost for us.
Speaker 1 (02:00):
That's good. How does that roll over into twenty twenty six?
As far as you know, consumers are concerned?
Speaker 3 (02:05):
Yeah, you know, this is why I think people people
get a little too wrapped up and what the what
the rate cuts are? I mean, if you remember what
the what the rate is is this the federal funds rate,
which is the overnight rate that banks get charged to
borrow money so they have the right amount of deposits
on hand. This goes way back to the Great Depression
when they're a run on banks, So every single bank
(02:26):
has to have a certain amount of cash on hand,
depending on how many levels they have out. Now today
it's all electronic. It's like you actually have the money
stacked into a vault. But that's what that rate rate represents.
It represents the amount that those banks can borrow. So
it really doesn't doesn't directly translate to mortgage rates. Or
other things. Although I think your everyday people sort of
have adopted that belief and they think that, Okay, if
(02:49):
the rates go down to quarter points and my mortgage
rate's going to go down a quarter point. It does
not work that way. And in fact, if you look
at the last few rate cuts, what we've see in
is is kind of harmed consumers, so being that your
savings accounts have gone down, but the mortgage rates and
things have been in the state right there at that
same level. So that's just one lever that they pull
to run the rates of the economy. But people need
(03:11):
to remember what that rate really represents, because it isn't
just a bod broad spectrum cut across every interest rate
the consumers utilize, right.
Speaker 1 (03:18):
Right, and then mortgage rates not necessarily are aligned with that,
but they kind of run as cousins together.
Speaker 2 (03:23):
But all right, quick question before we go round.
Speaker 1 (03:26):
You run a big financial investment company, Glasgow Investments. What's
the one thing that keeps coming up from your investors,
your people, your client's customers of concern when you start
talking about investments.
Speaker 3 (03:37):
Yeah, so, I think I think there's too they they
think the first one is prices of the second one
is jobs and unemployment numbers, and that's kind of the
one that's scaring people looking into the future. The prices
are and you know, it's we have inflation under control
right now, and that's the great I think the Teve
administration has done a terrific job of getting out in check.
But the problem is we have that massive run up
(03:57):
under the last administration. So you know, you know, I
know I need a radio spot. A couple of months
ago and you know, inflace, you came into three point one.
I'm sorry, I came into three point zero instead of
three point one, and the market shait all time highs.
That's terrific. But if you're an everyday person just going
about your business, you're still paying that three percent on
top of that massive run up that already occurred, and
(04:19):
it's just, you know, it's really hard to fight and
pull those prices back. That's that's the big thing, is
just everything is so much more expensive than it used
to be this time last year. The other one is
looking forward. I mean, you're starting to see a lot
of companies cut jobs. I mean Amazon cut thirty thousand jobs,
thirty thousand and it virtually made no headlines. So we
see things like that, people are worry about their own
(04:41):
jobs and that is a valcan start going into the
new year.
Speaker 1 (04:43):
Yeah, it's a big number, thirty thousand, but when you
have three million employees, I mean right, I mean they're.
Speaker 2 (04:48):
Big, big, bad companies. But still a lot of people
are looking out there because of that. Ron Glasgow, thank you, buddy,
I appreciate you. Glasgow Investments
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