September 4, 2025 • 9 mins
Capitalist Pig's Jonathan Hoenig on current unemployment, a push to ban lawmakers from trading stocks, American Eagle's Sidney Sweeney ads, and more!
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Le's go over to the Legacy Retirement Group dot com
phone line and say good morning to one of my faves.
He is Jonathan Honig, Capitalist Pig dot com. Jonathan, good morning,
I hope you're doing well. So Wall Street kind of
steadied a little bit yesterday after some tech stocks rally.
What's the story.
Speaker 2 (00:16):
Yeah, we had a great report from Alphabet that is Google.
It was up eight percent at one point. It was
a four percent on the close, So well through it
with steady, but got to tell some issues at the
labor front, Mike, when it comes to jobs, there's now
more Americans who are out of work than there are
jobs open. That's the first time we've had that upside
(00:36):
down since April of twenty twenty one. Wow.
Speaker 1 (00:40):
So you're saying if people who don't have a job
want one, there's not enough to go around.
Speaker 2 (00:46):
Exactly, and that is the first time since April twenty
twiney one. And in the company salesforce, that's probably the
best example of you know what's been going on. They've
cut four thousand jobs and it's been due to what
a I Mark benningoff the CEO anoul side yesterday, So
kind of a little bit of a warning sign on
(01:08):
the labor front when it comes to what's going on
in the job market.
Speaker 1 (01:11):
Mike, So with salesforce and the job stay cut, those
were all customer service jobs. So does that mean so
if you're calling you're going to get an AI agent
to you that you're spent, You're essentially going to be
talking to a bot.
Speaker 2 (01:24):
You're going to be talking to somebody exactly, Mike, either
cooking with talking with chatting with someone who is used
to be a human being now replaced with a box.
And this is just the way of the world, Like
there's truly no fighting. And we've been seeing this for
many many months now talking about it as well. And
you know we've seen it in the stock market. Mike
would have been the best performing stocks four months now.
(01:46):
For years, it's been those AI related companies and stocks
as well. Yeah, in the economy in real time.
Speaker 1 (01:56):
There's certainly no not putting the toothpaste back in the
two when it comes to AI and job replacement. There
speaking with Jonathan hoonek Capitalist pig dot com and I
saw this too. There is bipartisan support, Jonathan, both Conservatives
Democrats joining forces to create some sort of agreement on
(02:16):
banning lawmakers from trading stocks.
Speaker 2 (02:20):
Yeah, I mean they've been talking about this for years,
basically how to ban lawmakers from engaging and trading individual stocks.
In the mind, it makes sense when you think about it.
These people are regulating companies, you know, they're making rules about,
you know, how they can do business, where they can
do business. Should they be allowed to then go engage
(02:40):
in trading those companies themselves so that those actual companies.
This was actually legislation from Josh Hawley of Missouri and
it is now extending the prohibition basically creating stock on
individual stock futures and the or stock accounts. And the idea, Mike,
is that they have to invest in an index, you know,
it's something that is broadly based, that's not one individual company.
(03:03):
And it's been almost an open joke about Nancy Pelosi,
like for years about what a great stock trader she is.
She and many others are oftentimes seemingly twitting on stocks
on days and weeks in months before they passed legislation
on things those companies can actually do in the real world.
Speaker 1 (03:22):
Yeah, I'm glad you mentioned that because I was going
to if you didn't about And that's The one name
that I think that people that comes to mind when
people hear this story is Nancy Pelosi's portfolio, well documented
history of making these stock trades well before the market moves,
and she benefits every single time.
Speaker 2 (03:40):
Yeah, I mean, she's a great example. Although you know,
I have to see, Mike, there's been this a Trump
Brothers backed bitcoining company, Bitcoining Company. I should say, you know,
they've been all the rage and the Trump company, Trump organization,
and say that Trump brothers had gotten on it as well.
Company by the name of an American Bitcoin It is
(04:00):
actually public now. It listed on the Nasdaq on a
Wednesday of about forty percent as of yesterday. So we'll
see more and more of that, Mike question, just not
under the blending of Wall Street and Washington, DC. And
bitcoin continues to be quite hot. I mean, anything with
a bitcoin related ticker has been up on Wall Street
(04:22):
these days, and the Trump brothers are getting in on
the act well.
Speaker 1 (04:25):
And it begs the interesting question Jonathan hoone Capitalist pig
dot com. If lawmakers can't trade stocks, but can they
funnel the information to a friend or a family member
who can trade make those trades and still benefit yell.
Speaker 2 (04:38):
That's a great question when it comes to the law
that was extended spouses as well. You're right, Mike, it's
almost like inside information. So this is really the new
frontier in terms of Bitcoin, in terms of mining, in
terms of companies and of course presidents their ability to
profit on this brand new technology.
Speaker 1 (04:57):
I see, American Eagle had a pretty good run there,
up twenty percent since the whole Sydney Sweeney campaign, the
blue Jeans campaign.
Speaker 2 (05:04):
Yeah, I mean not since then night. In fact, after
the retailers said after the bell yesterday, they said that
the false even season is off to a very positive start.
I should say it's fueled by stronger profit offerings and
exactly everything going on with Sydney Sweeney has made that
company very much in the news these days. People are
(05:25):
buying the stock and they're buying the genes as well.
One of the best kind of branding decisions we've seen
ever when it calls to American Eagle.
Speaker 1 (05:33):
All right, let's get into it with let's talk about
bond yields and this is I mean, this can be
pretty wonky stuff when you start talking about thirty year treasuries.
But there was a story that you found on Fortune
dot com. What's going on with the long term bond yields?
Speaker 2 (05:48):
Well, Mike gets five percent, that's the yield on the
long term bond, and it's breaching five percent, not just
here at home, but in a lot of places around
the world. And that's a signal of inflation. And you know,
it's something you kind of can't hide. We've been seeing
it here, We've been seeing in Europe, We've been seeing
it in a lot of places around the world. Or
that long term yield, and we always talk about the
(06:09):
Fed controlling yields, Mike. They've set the law the short
term interest rate. The market is what prices what consumers
pay at the long end of the curve, the thirty
year yield, and that is now testing five percent here
at home, and over five percent in for example, France.
Uh they call them oats over there. They're at four
point four nine percent, but the highest since way back
(06:33):
in twenty oh nine, and five percent across much of Europe.
Something we're keeping a sharp ion when it comes to
inflation and the interest rates as well.
Speaker 1 (06:42):
Yeah, bond typically a safe haven, and I think about that.
I also't think about gold. I mean that hit a
record high with thirty five hundred bucks for an ounce
of gold.
Speaker 2 (06:52):
That's what's where it was Wednesday morning, at an all
time high in fact, and you know, think about that.
We were talking about Costco selling bars of gold a
year ago. Well it's up some forty two percent. Ince
then you know, of course you pay you know what
they call the spread, So they're gonna pay a little
less than spots. You're also gonna pay federal income taxes
(07:14):
on it as well. But you've had gold at an
all time high, MIC, pretty amazing, and the weakness and
the dollar has been not really a big part of it.
It's been concerns about you In the long term, deficit
spending goal has been a major BENEFICIARYA We've got.
Speaker 1 (07:28):
A couple of stories left, and they're all food and
beverage related, which I love. Jonathan. We'll start with McDonald's.
Their CEO is coming out with a little bit of
a warning.
Speaker 2 (07:38):
Yeah, I mean, basically McDonald's is warning of what they're
seeing a two tiered economy. You've got a consumer who's
under a lot of pressure, lower income and consumers, but
upper income people, people who are making let's say, six
feet figures a year they're doing pretty well, but the
lower income consumer is really struggling. McDonald's is trying to
(07:58):
come up out with a lot of you know what
two deals if you will, that when you buy them
together they cost a little bit less. Uh. They're really
aiming for that consumer, mic and Uh. On the up
on the upper end, they're doing very well, but on
the lower end, the American consumer is struggling, no question there.
Speaker 1 (08:16):
And you're still Yeah, you're starting to see McDonald's and
all of these fast food operations offer these you know,
super low, you know, priced meal deals to try to
get people to come in and spend money, maybe go
for more of a volume and a quantity not quality play.
Speaker 2 (08:31):
Uh.
Speaker 1 (08:31):
And the same is happening with Taco Bell. I mean
they're offering this this old like y two K menu.
Speaker 2 (08:37):
Yeah, I guess so funny why two K is considered
oldies now. But on September ninth, Taco Bell is relaunching
one of their most requested fan favorites from the nineties.
Do you get ready for it? Mike? The carbol apple
and panana and cool ranch, Torito logo, tacos, things like that.
And there's seven layer, seven layer burrito those were very
(09:00):
very popular back around the millennium twenty years ago, those
early two thousands, and that's what's back now when it
comes to nostalgia and Taco Bell, like Apple Apple excuse me,
I should say, like McDonald's as well, has come back
to that very frequently. When it frequently when it comes
back back to top at tapping nostalgia. So we'll see
that once again with Taco Bell and y two ks
(09:22):
starting September ninth.
Speaker 1 (09:24):
A lot of those menu items pretty fairly priced to
at about two fifty. And but you mentioned the cool
ranch to Rito's Locos Tacos those that's got my name
all over it, so is September ninth, that's next week.
Is that we said that when those hit the taco.
Speaker 2 (09:38):
Bell, they're tapping in the nostalgia September ninth, Mike, Pretty
amazing how that's come back. Everything that's old is new
once again.
Speaker 1 (09:47):
Very good, great stuff. As always, if you have a
moment today, give them a look Capitalist pig dot Com
as always, Jonathan Honig, you're very gracious to spend time
with us.
Speaker 2 (09:55):
Thank you very much.
Speaker 1 (09:56):
Have a great weekend.
Le's go over to the Legacy Retirement Group dot com
phone line and say good morning to one of my faves.
He is Jonathan Honig, Capitalist Pig dot com. Jonathan, good morning,
I hope you're doing well. So Wall Street kind of
steadied a little bit yesterday after some tech stocks rally.
What's the story.
Speaker 2 (00:16):
Yeah, we had a great report from Alphabet that is Google.
It was up eight percent at one point. It was
a four percent on the close, So well through it
with steady, but got to tell some issues at the
labor front, Mike, when it comes to jobs, there's now
more Americans who are out of work than there are
jobs open. That's the first time we've had that upside
(00:36):
down since April of twenty twenty one. Wow.
Speaker 1 (00:40):
So you're saying if people who don't have a job
want one, there's not enough to go around.
Speaker 2 (00:46):
Exactly, and that is the first time since April twenty
twiney one. And in the company salesforce, that's probably the
best example of you know what's been going on. They've
cut four thousand jobs and it's been due to what
a I Mark benningoff the CEO anoul side yesterday, So
kind of a little bit of a warning sign on
(01:08):
the labor front when it comes to what's going on
in the job market.
Speaker 1 (01:11):
Mike, So with salesforce and the job stay cut, those
were all customer service jobs. So does that mean so
if you're calling you're going to get an AI agent
to you that you're spent, You're essentially going to be
talking to a bot.
Speaker 2 (01:24):
You're going to be talking to somebody exactly, Mike, either
cooking with talking with chatting with someone who is used
to be a human being now replaced with a box.
And this is just the way of the world, Like
there's truly no fighting. And we've been seeing this for
many many months now talking about it as well. And
you know we've seen it in the stock market. Mike
would have been the best performing stocks four months now.
(01:46):
For years, it's been those AI related companies and stocks
as well. Yeah, in the economy in real time.
Speaker 1 (01:56):
There's certainly no not putting the toothpaste back in the
two when it comes to AI and job replacement. There
speaking with Jonathan hoonek Capitalist pig dot com and I
saw this too. There is bipartisan support, Jonathan, both Conservatives
Democrats joining forces to create some sort of agreement on
(02:16):
banning lawmakers from trading stocks.
Speaker 2 (02:20):
Yeah, I mean they've been talking about this for years,
basically how to ban lawmakers from engaging and trading individual stocks.
In the mind, it makes sense when you think about it.
These people are regulating companies, you know, they're making rules about,
you know, how they can do business, where they can
do business. Should they be allowed to then go engage
(02:40):
in trading those companies themselves so that those actual companies.
This was actually legislation from Josh Hawley of Missouri and
it is now extending the prohibition basically creating stock on
individual stock futures and the or stock accounts. And the idea, Mike,
is that they have to invest in an index, you know,
it's something that is broadly based, that's not one individual company.
(03:03):
And it's been almost an open joke about Nancy Pelosi,
like for years about what a great stock trader she is.
She and many others are oftentimes seemingly twitting on stocks
on days and weeks in months before they passed legislation
on things those companies can actually do in the real world.
Speaker 1 (03:22):
Yeah, I'm glad you mentioned that because I was going
to if you didn't about And that's The one name
that I think that people that comes to mind when
people hear this story is Nancy Pelosi's portfolio, well documented
history of making these stock trades well before the market moves,
and she benefits every single time.
Speaker 2 (03:40):
Yeah, I mean, she's a great example. Although you know,
I have to see, Mike, there's been this a Trump
Brothers backed bitcoining company, Bitcoining Company. I should say, you know,
they've been all the rage and the Trump company, Trump organization,
and say that Trump brothers had gotten on it as well.
Company by the name of an American Bitcoin It is
(04:00):
actually public now. It listed on the Nasdaq on a
Wednesday of about forty percent as of yesterday. So we'll
see more and more of that, Mike question, just not
under the blending of Wall Street and Washington, DC. And
bitcoin continues to be quite hot. I mean, anything with
a bitcoin related ticker has been up on Wall Street
(04:22):
these days, and the Trump brothers are getting in on
the act well.
Speaker 1 (04:25):
And it begs the interesting question Jonathan hoone Capitalist pig
dot com. If lawmakers can't trade stocks, but can they
funnel the information to a friend or a family member
who can trade make those trades and still benefit yell.
Speaker 2 (04:38):
That's a great question when it comes to the law
that was extended spouses as well. You're right, Mike, it's
almost like inside information. So this is really the new
frontier in terms of Bitcoin, in terms of mining, in
terms of companies and of course presidents their ability to
profit on this brand new technology.
Speaker 1 (04:57):
I see, American Eagle had a pretty good run there,
up twenty percent since the whole Sydney Sweeney campaign, the
blue Jeans campaign.
Speaker 2 (05:04):
Yeah, I mean not since then night. In fact, after
the retailers said after the bell yesterday, they said that
the false even season is off to a very positive start.
I should say it's fueled by stronger profit offerings and
exactly everything going on with Sydney Sweeney has made that
company very much in the news these days. People are
(05:25):
buying the stock and they're buying the genes as well.
One of the best kind of branding decisions we've seen
ever when it calls to American Eagle.
Speaker 1 (05:33):
All right, let's get into it with let's talk about
bond yields and this is I mean, this can be
pretty wonky stuff when you start talking about thirty year treasuries.
But there was a story that you found on Fortune
dot com. What's going on with the long term bond yields?
Speaker 2 (05:48):
Well, Mike gets five percent, that's the yield on the
long term bond, and it's breaching five percent, not just
here at home, but in a lot of places around
the world. And that's a signal of inflation. And you know,
it's something you kind of can't hide. We've been seeing
it here, We've been seeing in Europe, We've been seeing
it in a lot of places around the world. Or
that long term yield, and we always talk about the
(06:09):
Fed controlling yields, Mike. They've set the law the short
term interest rate. The market is what prices what consumers
pay at the long end of the curve, the thirty
year yield, and that is now testing five percent here
at home, and over five percent in for example, France.
Uh they call them oats over there. They're at four
point four nine percent, but the highest since way back
(06:33):
in twenty oh nine, and five percent across much of Europe.
Something we're keeping a sharp ion when it comes to
inflation and the interest rates as well.
Speaker 1 (06:42):
Yeah, bond typically a safe haven, and I think about that.
I also't think about gold. I mean that hit a
record high with thirty five hundred bucks for an ounce
of gold.
Speaker 2 (06:52):
That's what's where it was Wednesday morning, at an all
time high in fact, and you know, think about that.
We were talking about Costco selling bars of gold a
year ago. Well it's up some forty two percent. Ince
then you know, of course you pay you know what
they call the spread, So they're gonna pay a little
less than spots. You're also gonna pay federal income taxes
(07:14):
on it as well. But you've had gold at an
all time high, MIC, pretty amazing, and the weakness and
the dollar has been not really a big part of it.
It's been concerns about you In the long term, deficit
spending goal has been a major BENEFICIARYA We've got.
Speaker 1 (07:28):
A couple of stories left, and they're all food and
beverage related, which I love. Jonathan. We'll start with McDonald's.
Their CEO is coming out with a little bit of
a warning.
Speaker 2 (07:38):
Yeah, I mean, basically McDonald's is warning of what they're
seeing a two tiered economy. You've got a consumer who's
under a lot of pressure, lower income and consumers, but
upper income people, people who are making let's say, six
feet figures a year they're doing pretty well, but the
lower income consumer is really struggling. McDonald's is trying to
(07:58):
come up out with a lot of you know what
two deals if you will, that when you buy them
together they cost a little bit less. Uh. They're really
aiming for that consumer, mic and Uh. On the up
on the upper end, they're doing very well, but on
the lower end, the American consumer is struggling, no question there.
Speaker 1 (08:16):
And you're still Yeah, you're starting to see McDonald's and
all of these fast food operations offer these you know,
super low, you know, priced meal deals to try to
get people to come in and spend money, maybe go
for more of a volume and a quantity not quality play.
Speaker 2 (08:31):
Uh.
Speaker 1 (08:31):
And the same is happening with Taco Bell. I mean
they're offering this this old like y two K menu.
Speaker 2 (08:37):
Yeah, I guess so funny why two K is considered
oldies now. But on September ninth, Taco Bell is relaunching
one of their most requested fan favorites from the nineties.
Do you get ready for it? Mike? The carbol apple
and panana and cool ranch, Torito logo, tacos, things like that.
And there's seven layer, seven layer burrito those were very
(09:00):
very popular back around the millennium twenty years ago, those
early two thousands, and that's what's back now when it
comes to nostalgia and Taco Bell, like Apple Apple excuse me,
I should say, like McDonald's as well, has come back
to that very frequently. When it frequently when it comes
back back to top at tapping nostalgia. So we'll see
that once again with Taco Bell and y two ks
(09:22):
starting September ninth.
Speaker 1 (09:24):
A lot of those menu items pretty fairly priced to
at about two fifty. And but you mentioned the cool
ranch to Rito's Locos Tacos those that's got my name
all over it, so is September ninth, that's next week.
Is that we said that when those hit the taco.
Speaker 2 (09:38):
Bell, they're tapping in the nostalgia September ninth, Mike, Pretty
amazing how that's come back. Everything that's old is new
once again.
Speaker 1 (09:47):
Very good, great stuff. As always, if you have a
moment today, give them a look Capitalist pig dot Com
as always, Jonathan Honig, you're very gracious to spend time
with us.
Speaker 2 (09:55):
Thank you very much.
Speaker 1 (09:56):
Have a great weekend.
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