Episode Transcript
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Speaker 1 (00:00):
You're listen Saints KFI AM six forty. The Bill handles
show on demand on the iHeartRadio app.
Speaker 2 (00:08):
CAMPI I came secretary Joe here.
Speaker 3 (00:11):
It is a Thursday morning, September eleventh, as we celebrate,
as we commemorate twenty four years of the nine eleven attacks,
also the killing of Charlie Kirk yesterday, who is the
conservative not beyond mouthpiece, but the conservative icon of the
(00:31):
youth conservative moment, particular movement, particularly among college students throughout
the country. Well, it is time now for a how
to Money segment with Joel Larsgard. Joel heard Sunday twelve
pm to two pm. His show cleverly entitled how to Money,
and his socialis as at how Too Money Joel howdomoney
(00:52):
dot com is the website.
Speaker 2 (00:54):
Joel, Good Morning, Morning Bill.
Speaker 3 (00:56):
It used to be and I was part of this,
and I guess to some extent I still am that
for you to be successful, all you have to do
is really work hard, because that is the formula in
this country. You work hard and you will succeed. There's
no way around that. People don't believe that anymore, certainly
(01:19):
my daughters don't. And I keep on telling him work hard,
and they go, Dad, that really doesn't matter anymore.
Speaker 2 (01:27):
Let's talk about that for a moment. Yeah.
Speaker 4 (01:30):
So there's this recent Wall Street Journal poll and it's
been happening for They've been doing this for like twenty
five years or thirty years or something like that, and
it's been really interesting to see when you go back
and look at the graph of the percentage of Americans
who do believe the hard work pays off and can
allow you to live the American dream. And you know,
at as recently as the year two thousand, more than
(01:52):
three quarters of Americans are like, yeah, hard work, it's
going to lead to success in this country. And now
we're just saying incredibly pessimistic times and nearly seventy percent
of Americans just believe that hard work, No, it doesn't
really have any bearing or impact on your ability to
live a meaningful life or to flourish in this country.
(02:13):
And so it's just kind of shocking to see that
rapid decline. I can't it's really hard to parse and
figure out whether or not this is actually because things
have structurally changed so much in the past twenty years
in this country that that is accurate, or if there's
just this kind of pessimistic vibe, this dark cloud that's
kind of overhanging people's perception of the economy and their
(02:36):
ability to succeed inside of it.
Speaker 3 (02:38):
You know, I see my daughters as a litmus test
to what's going on. They're both thirty twin girls and
the only thing they work very hard at is spending
money with my credit card. That way, I give you.
But the pessimism, particularly pamelas she's going for her master's
degree now in computer on computer science, and the reason
(03:02):
she is is Dad, there really is no work out
there for someone who has my skill level.
Speaker 2 (03:08):
It's you have to have a very high skill level
and short of that.
Speaker 3 (03:11):
In the world of computers because of AI, because of
the financial models they use, and it has to do
with you know, her pessimism.
Speaker 2 (03:21):
And she's not alone.
Speaker 3 (03:23):
It's out there, and it's troubling, by the way, because
we are a country that every everyone's kids we're going
to do better than us, right, And that certainly was
with me growing up, and I certainly thought that when
my kids were small, you know, the next generation was
(03:44):
going to do better. And it well, let me ask
you this, certainly, the feeling out there the belief out
there is a hard work is nearly not going to
cut it.
Speaker 2 (03:55):
What's the reality of it.
Speaker 4 (03:58):
So that's a great question, and that's exactly kind of
what I wanted to cover with you, because I think
there is some truth to just nose to the grindstone.
I on the prize working as hard as you can that, yeah,
you might not surpass the economic success that your parents had,
And you have to be even more thoughtful I think
(04:18):
in today's economy about what you pursue, the debt you
take on to pursue, to pursue that goal, to pursue
that degree, and you also have to be I think
more flexible than ever before in an economy that's kind
of constantly changing and morphing and moving. So there was
this other really interesting article in Business Insider about gen
(04:38):
Z and how they are more interested in entrepreneurship, and
I think that's got to be largely because of the
increase in the cost of college, like all the mess
of student loans, and how that debt is really really
hurting a lot of people's ability to succeed in the economy,
even if they get a job with their degree, which
(05:01):
a lot of people graduate they have the degree, they've
got the debt, and they don't really have a job
that's commensurate to the education that they've just got. So
I think you have to be really careful about what
degree you're getting, how much you're spending to get that degree.
And so I think that's why you're seeing a lot
of young people pivoting. They're saying that was a path
I was told that work, but maybe I don't know,
it doesn't seem to be working out for some of
(05:23):
those younger millennials in older gen zs. So maybe I'm
going to do something a little bit different and kind
of skip that and see if maybe I can find
a better way forward. And I do think you just
have to be more willing to assess the landscape and
make changes instead of believing that the oh, great, get
the four year college degree, maybe even go to graduate
school and that's what's going to lead to economic success
(05:45):
and a significant income and then home ownership and all
that stuff. Maybe I need to conceptualize a different idea
of success and find a different path forward.
Speaker 3 (05:53):
Now as a baby boomer, which I am, I my
generation is getting blamed for basically ruining everything we have the.
Speaker 2 (06:02):
Most disposable income.
Speaker 3 (06:04):
We have the houses, we had, the great jobs or
still due before retiring. And there's a well, for example,
my wife who is younger than I am, she just
graduated high school and she is look and says to me, Bill,
you've ruined it for the rest of us. You baby
(06:24):
boomers have just wiped out all of us because you
got the good stuff. And that's the way world. The
world has changed. You want to comment on that.
Speaker 4 (06:33):
Well, she's still married you, so obviously there's something she
likes despite the fact that you've ruined it for everyone.
Speaker 1 (06:38):
Uh.
Speaker 3 (06:39):
Yeah, I'm thinking of economically, Yeah, but how does some
I bought a house when I was in my twenties,
I was able to put down a reasonable down payment,
reasonable mortgage payments.
Speaker 2 (06:48):
Those days are gone. Who can do that?
Speaker 4 (06:50):
Yeah, I mean I do. I do think there is
there is some truth to that. But then again, I
was at my next door neighbor she just turned one
hundred recently, and her son had put together this like
old school newspaper article looking thing about what and it
had like what things cost in nineteen twenty five when
she was born. And it's kind of funny and silly
(07:15):
to be like, oh, my goodness, a state costs like
thirty cents back then. But then you're you know, you
look at what investing would have done. How investing one
hundred bucks in the year nineteen twenty five would have
led to something like two point seven million dollars now.
And so I do think that we have more people
participating in the market than ever before, and we have
(07:35):
people of all stripes and income levels benefiting from their
ability to invest incredibly easily in low cost index funds.
And it's become super simple through apps like mixed feelings
about apps like Robinhood, but it makes it incredibly simple
to get into the investing space. And so I think
people have more of an ability to continue to move
(07:58):
up the when in their wealth building efforts and to
move up in the economy. Then maybe they think, yes,
there are some ways that you that you don't have
it as easy as maybe the baby boomers had it,
But then there are other ways to go out there
and proceed and do just fine for yourself. I guess
there's a lot of pessimism that I think is warranted,
and then there's a lot of pessimism that I think
(08:19):
just isn't warranted. And that there's maybe a little bit
of like pity party going on.
Speaker 2 (08:23):
Thank you for that. That's deep analysis.
Speaker 3 (08:25):
Sometimes yes, sometimes no, well said, all right, coming up
Facebook Marketplace, by the way, that's me making fun of
you in case you all right now flipping stuff on
Facebook Marketplace?
Speaker 2 (08:40):
Does that make sense?
Speaker 4 (08:41):
Because I always thought that was kind of weird, so
I think it can. There are only two things I
like about Facebook, Bill. I think most of it's wasted
time and energy. But I like the Facebook groups, like
the how to Money Facebook group is a great place
for people to go and ask money questions and help
each other out. And the Facebook Marketplace has basically taken
(09:01):
over from Craigslist is it is now the place to
buy and sell stuff and to find other people who
are buying and selling stuff at a reasonable price in
your vicinity as well. And so I do think more
people should consider using it more frequently. Like I recently
sold a few things on there, and and someone you
know comes to my house and picks it up. And
(09:22):
I didn't sell it for very much, but I got
rid of it and I didn't have to throw it
into like, you know, the dumpster, which made me feel
better about myself. But there was this article about people
flipping stuff on Facebook marketplace and so basically buying stuff
that you think is underpriced and selling it for more.
And yeah, it could be kind of a paint of
the butt. You might be driving around your town a lot.
(09:44):
But if you're kind of in this mode where you
want to pick up a side hustle and you feel
like there's you have a particular knowledge of a specific
sector of stuff that's gets sold on Facebook marketplace. Like
maybe you know a lot about dishwashers and you buy
broken dishwashers and you fix some and you sell them
to other people. Maybe you could. You could truly make
some money on Facebook marketplace if you're smart.
Speaker 3 (10:07):
And the operative word or the operative phrase is they
come to your house.
Speaker 2 (10:12):
Total total strangers come to your You can.
Speaker 4 (10:16):
They can stick around for dinner if you're interested in
making a new friend too.
Speaker 3 (10:21):
Yeah, there certainly seems to be an issue of security.
Speaker 2 (10:24):
They are right.
Speaker 3 (10:26):
But when I think about this, I think about small items,
I think about coins, I think about toys. Uh, that
kind of thing. I would go in that direction if
I had to guess your comments.
Speaker 4 (10:40):
Yes, sporting goods is another one. But yeah, like Pokemon
stuff is like it's hot on Facebook, and some people
just don't know what they have and so they sell
it for less than they than they should. I will say, yeah,
to keep yourself safe when you're meeting. When you're meeting someone,
sometimes I do, like you sell stuff in the driveway
at my house and I don't feel super weird about it.
(11:02):
But I also it depends on what I'm selling. So
if I'm picking, like I bought an Apple Watch for
my daughter on Facebook marketplace and we met at a
really public place, because that is it's sometimes it's those
tech items, it's specifically iPhones and Apple watches and stuff
like that, where that's when you might encounter somebody who
wants to rip you off. And so meeting at a
(11:24):
police station or a brightly lit public place makes a
lot more sense. I wouldn't want that person necessarily come
into my house. So just be really be careful. You
know what you're selling and who you're where you're interacting
with people, because yeah, I can get a little weird.
Speaker 2 (11:37):
Yeah.
Speaker 3 (11:38):
Also keep in mind that there's no warranty at all.
The people disappear very quickly. You're going to go to
small claims court and never collect. And that's the risk
you take. For example, you bought an Apple Watch, how
do you know the battery is going to last?
Speaker 2 (11:53):
Yeah, there's a guy there.
Speaker 4 (11:56):
There's a setting in the back and you can kind
of see what the battery life is like. But you're
so right. It is a buyer beware sort of thing.
And you might think you're getting a deal, but the
person selling it to you is like, I don't know.
This thing's not really working, right, That's why I'm selling it,
and I'm selling it for less because it's actually in
bad shape. So yeah, be careful about that and know
what you're buying and know what to look for it
so you're not getting a lemon.
Speaker 2 (12:17):
All right, Joel?
Speaker 3 (12:18):
This Sunday twelve to two pm. The show is How
the Money Take Care?
Speaker 4 (12:24):
Thanks Bill.
Speaker 2 (12:25):
Okay, I thinking used condoms? Would that work? There's a
joke about that.
Speaker 3 (12:31):
There is a joke that I want to I will
share with you at some point. Yeah, that's disgusting. Yeah,
that's right. Let's let's edit.
Speaker 2 (12:42):
That one out. Okay, yeah, Will, Yeah, it was a joke.
Speaker 3 (12:46):
It was a joke. Okay, well maybe not. Okay, let's
get out of here. Is that okay with you.
Speaker 4 (12:53):
Everybody listening out there in KFI.
Speaker 5 (12:55):
We just heard Bill Condom mentioned you. Bill hand Will
mention you Condom, that is an example of white privilege.
Speaker 4 (13:04):
He can say that and get away with it because
he's white privilege.
Speaker 2 (13:10):
That's that's what it sounds like.
Speaker 3 (13:13):
I don't know what that was, Christian white privilege. Oh now,
I can't be just white privilege.
Speaker 2 (13:18):
No, you've got that. That came in on a talkback.
Speaker 5 (13:22):
Somebody, I guess felt that you're mentioning of selling used
condoms was white privilege. Cono and I combined brain power
could not figure out what he was talking about, but
I thought it was worthy of getting it on the air,
you know, kick the truth out there.
Speaker 3 (13:37):
All right, thank you for that. Good Good for you folks.
All Right, I'm gonna spend a couple of topics on
this one because this is pretty important. I mean, look
at the news we have the killing of Charlie Kirk
twenty four years today nine to eleven is being commemorated.
And also what happened yesterday was completely insane, and that
(13:59):
is is bombs a building in Doha, Qatar. Qatar being
one of our primary allies in the Mid East, certainly
the premier ally arab Ally in addition to Israel, and
so our biggest ally bombs our biggest ally. And here
(14:23):
was Netting Yao who did is he unloads missile weaponry
into a building in which senior Hamas negotiators are meeting
to discuss the peace proposal that is on the table,
and we heard that it was closer than not. And
(14:46):
Netting Yao, who decides, why don't we blow this thing up?
Speaker 2 (14:51):
Now? Why would he do that?
Speaker 3 (14:54):
Well, the obvious answer is he does not want a
piece of chord. If there is no piece of cord,
then he can move forward with his military success because
they're wiping out Israel's wiping out Palestinians. Now, over sixty
four thousand Palestinian has been killed in eighty percent of
the country has either been destroyed or severely damaged. And
(15:17):
so he moves ahead because he's But this is a
war cabinet of Natanyahu's. There's never been such a right
wing government in Israel that straight out wants to take
out Jamas, except to take out Hamas means thousands more
Palestinians will die because Mohammas is simply not leaving Israel
(15:41):
demands that Ramas basically leaves, leaves Gaza.
Speaker 2 (15:45):
Gives up his military strength, it.
Speaker 3 (15:49):
Demolishes itself or it certainly disembowels itself, and then the
leaders go into exile.
Speaker 2 (15:56):
And that's the last thing.
Speaker 3 (15:57):
The last thing, Nataya who is doing so was what
were these negotiators doing well?
Speaker 2 (16:03):
Negotiating peace? Right? Wait a minute.
Speaker 3 (16:06):
If I'm natagnyah who I don't want peace, that ruins
everything for me, because the move to get rid of
the Palestinians from Gaza is stopped cold.
Speaker 2 (16:16):
Also at the return of the hostages. Although I don't know.
Speaker 3 (16:18):
How important that is inn Taennahoo. I mean, there certainly
is talk about it. He certainly babbles about it. Do
I think it's important to him? No to I think
the hostage families believe that's important to him.
Speaker 2 (16:34):
No, I mean, is this a political move? Yeah, and let.
Speaker 3 (16:39):
Me come back and I'll finish that up, because there's
a lot to say. This is big, big stuff going
on in that part of the world. God, what a
day last day or two, it's been enormous. These were
peace nicks. These were not heads of military arms. This
was not those engaged in political attacks, not that they can.
(17:00):
It was to wipe out the peace process, and a
lot of people think Natagnya, who specifically wanted to do that.
Peace does not help Nintenyahu. Once peace is declared, he's
going to lose his government. He's on trial right now
for corruption. But while he's prime minister, much like the
(17:21):
United States, you can't do anything prime minister, my prime
minister legally, much like the Supreme Court said, you can't
go after the president while he is president.
Speaker 2 (17:31):
You have to wait till afterwards. Same thing in Israel,
and he is.
Speaker 3 (17:34):
Trying to save his ass N'taya who is And what
the officials from the Qatari government said is that the
we're out of it basically, even though officially were on
the table. Still it's not going to happen, and the
hostages are history at this point because Ninitaenna, who doesn't
(17:58):
want a peace and he wants or peace to him,
is in many ways looking at taking over Hamas and
moving all of the Palestinians out of Gaza. Well, that
sure seems like ethnic cleansing to me, and that is well,
(18:19):
it's going to change the world.
Speaker 2 (18:20):
See, I think there's an answer here, I really do.
Speaker 3 (18:23):
And it could be fairly simple, and that is a
peace process does take place. Hamas still stays in power,
and Israel says to Hamas, one more time, you do this,
and I'm referring to October seventh, you try this one
more time, there will not be a building left in Gaza.
(18:46):
The entire country will be a refugee camp. Every single
person in Gaza will be living intents and Israel has
the power to do that.
Speaker 2 (19:01):
Camas.
Speaker 3 (19:02):
Oh and when the attack October seventh happened, you know,
all of Gaza started cheering, there were parties, there was
just joy in the streets. That was dancing in the streets.
I mean, that's where the political reality is between Camas
and Israel.
Speaker 2 (19:22):
All Right, we're done, guys. That's it.
Speaker 3 (19:25):
Gary and Shannon are up next time. Back tomorrow. Hopefully
I feel a little bit better tomorrow. It's a little
bit under the weather. Yesterday, I was gone. Today I
wanted to be here and I was sort of almost
not here. Tomorrow I'll be better. And tomorrow's my last
broadcast until they fire me. No, that's not gonna happen,
not anytime soon, unfortunately, Neil.
Speaker 2 (19:48):
That's not anytime soon.
Speaker 5 (19:50):
It's hard to believe, sir, I'm not gonna lie, but yeah,
I don't think it's happening.
Speaker 3 (19:54):
Yeah, yeah, Okay, guys, that's it.
Speaker 2 (19:57):
Tomorrow morning, we're all back again.
Speaker 3 (19:59):
We start at this and it all happens one more time.
This is KFI AM sixty.
Speaker 2 (20:10):
You've been listening to The Bill Handle Show.
Speaker 1 (20:11):
Catch my Show Monday through Friday, six am to nine am,
and anytime on demand on the iHeartRadio app