August 23, 2025 • 39 mins
In this episode, we delve into the critical importance of financial independence and the role skepticism plays in achieving it. Join us as we explore strategies for building a secure financial future and discuss how questioning conventional wisdom can lead to smarter financial decisions. Whether you're just starting your financial journey or looking to refine your approach, this conversation offers valuable insights and practical advice. Tune in to empower your financial mindset!
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
Well, no one all through investment banking, consumer advocate, analyst,
trader Chris Markowski is the watchdog the Wall Street. Do
you want to answer exposing the lines and myths that
the big brokerage firms, the mainstream press, and the government
are pushing to keep Americans away from financial freedom.
Speaker 2 (00:27):
You can't handle the truth.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 3 (00:34):
Ladies and gentlemen.
Speaker 2 (00:35):
We're not here to indulge in fantasy, but in political
and economic reality.
Speaker 1 (00:39):
This is the watchdog Wall Streets.
Speaker 2 (00:45):
Well, everybody, I was actually being interviewed this past week
and we're asking me about our radio program, this program
and kind of the things that makes it different in
our longevity and I have been able to stick around
for so long. Well, first, for us again, this is
(01:06):
a labor of love for me. We don't take I
don't take any advertising dollars for this program.
Speaker 3 (01:14):
Never, we just don't do it again.
Speaker 2 (01:18):
I don't want to even give any sort of idea
that we're bought and sold by anybody. And commercials you're
hearing on this program not mine, not mine, local network,
not mine. I don't I don't collect a dime from
any of this never have. The other thing is we
we would probably be a hell of a lot more successful.
(01:40):
Explain it to people. I would be a hell of
a lot more success. That will have a lot more stations.
You know, told this before get picked up by you know,
a network, So the remaining networks, because there's not many
left out there. If I picked a side, if I
picked a side and I went with that, and we
don't do that. Unfortunately, what's happened to the news today
(02:04):
is that it basically is catering to certain elements.
Speaker 3 (02:08):
If you are of.
Speaker 2 (02:09):
This persuasion, well then you know what. You go to
this station and they basically back your beliefs. If you
believe in this, they put you over there and they
really really really don't.
Speaker 3 (02:20):
Do much to challenge anybody.
Speaker 2 (02:23):
We we make people I do, and I understand this.
I make people uncomfortable here on the program because we're
brutally honest. The truth is not always easy, people, The
truth is not always easy. And I'm sure we've all
had some moments in time we've been happy with ourselves
(02:46):
or whatever it may be, and we, you know, try
to live and denial than I will. It's true. We
got to take that good, hard look in the mirror.
And that's what we really try to do here. And
it's very much in your face, and it isn't always
this way. We first started the program when I was
doing a lot of the ripoffs and scams. I spent
(03:09):
a I really got, you know, going off on these
crooks and these liars. And I still do and I
still do. They're bad people. I get all that. I
get all that, but again, nothing new under the sun.
Get rich quick con artists the world's second oldest profession,
(03:29):
and they are successful because what people are greedy. People
are greedy, they want to get rich quick. I was
doing my Bible in the year this past week, and
again I reminded me and I should have written it down.
It's popped into my head from Proverbs about the importance
(03:50):
of making money slowly. Money that has brought in little
by little over time will stick with you, whereas the
stuff that comes in quickly go away poof is gone.
The wisdom that's there, the stuff that we talk about
here on the program, I didn't come up with it.
It's timeless. And again, and Neanfro, I'm explaining that. I said,
(04:12):
you know that the things that you or what is
your portfolio philosophy all this, and I'm like, it's just
common sense. These are things that have been written about
thousands of years ago that are applicable today. And again
the change in the tone over my ears is again
(04:32):
I'm putting the onus on you out there. You're listening
to this program. You listen this program. You can either
choose to listen to what I'm telling you. And again
I highly recommend, highly recommend, do your homework on Markowski
investments and the Watchdog on Wall Street Show. Go read
(04:53):
my stuff, go back and listen, Go watch all the
calls that I've made over the year.
Speaker 3 (05:01):
They're there.
Speaker 2 (05:02):
Okay, you can choose to listen to what we're telling you,
or again, you know, you can choose to listen to
the get rich quick con guy.
Speaker 3 (05:14):
Choice is yours. Okay.
Speaker 2 (05:18):
The problem is is that when you lose money, it's
on you. Okay, don't blame don't blame the crook. Okay,
don't blame the crook. Look at it this way. I'll
put it to you this way. I remember when my
kids were little, we were at I think it was
that Bush Gardens in Florida.
Speaker 3 (05:36):
We're at the zoo, and I think.
Speaker 2 (05:38):
My son Steven, started asking, oh I remember what it
was now, Oh my god, it just came to me.
There was a vulture there, one of those big, big,
massive vultures.
Speaker 3 (05:48):
And my son asked me, that's a bad animal. And
I try to.
Speaker 2 (05:51):
Explain to him. I say, no such things as bad animals.
That that animal has a purpose in the same way
that a shark has a purpose, good, bad, indifferent. Okay, yeah, okay,
we're human beings and there are bad human beings out there,
but you have to know that they're out there. You
have to know that they exist. You don't have to
(06:13):
listen to them. Stop making excuses. Oh my god, it's
just coming up national pastime here. I'm gonna blame somebody else.
I'm gonna be the victim. You know, certain people, Okay, yeah,
they look to victimize senior sitting. They do a myriad
I get all that, but more often than not, okay,
(06:34):
more often than not, ninety plus percent of the time,
ninety percent of the time, it's someone out there that again,
why did a fast track the wealth? Why did it
get rich quick? Took on too much risk? And the
other issue as well. People listened that there's there's no
(06:54):
financial cops out there.
Speaker 3 (06:57):
Oh the sec. Here's the story from you.
Speaker 2 (07:02):
A Spartan Capital securities broker has been suspended over allegations
of churning elderly customers accounts, marking the second time he
has been sidelined for the same allegations.
Speaker 3 (07:15):
Again.
Speaker 2 (07:17):
This firm, Spartan Capital Securities, modern day chop house, modern
day chop house.
Speaker 3 (07:28):
That's all it is.
Speaker 2 (07:29):
And if you don't think, if you don't think that
Fenra and the SEC no exactly exactly what this firm
is and what it does they do. They don't do
a damn thing. They're not a cop. It is no
sort of there's not a cop on a beat. They're
not trying to prevent any crime. They come in after
(07:51):
the fact, after somebody has been ripped off, after somebody
has been scammed. Then they say, oh, look at this,
look at this, and then they go after them, they
get a fine, they throw them out of the business.
Why not be proactive? And I saw this back in
the nineties with all these boiler room operators, and again
(08:13):
they did all their clearing through bear Sterns and these
big firms, and I said, oh, everybody knows, everybody knows
the type of crooked crap that's going on. It's like
a wink, wink, nod, nod. Let's just let it go.
The sheer volume of people out there that have had
ethical bypasses at birth on Wall Street is extraordinary.
Speaker 3 (08:33):
To you, it is. But you need to know that.
You need to know that, and it's easy to avoid them.
That's the thing.
Speaker 2 (08:45):
It's not a difficult thing to avoid these grooks. All
you need to do is just to do a little
bit of homework, do a little bit of research on
who you're doing business with, who the firm is, what
are they all about, what are they giving to you?
Speaker 3 (09:01):
And I'm here, I've been here on the twenty five years.
Speaker 2 (09:08):
Send us an email, give us a call, ask us
if someone is.
Speaker 3 (09:13):
Legitimate or not.
Speaker 2 (09:14):
Yes, there are legitimate advisory firms out there, there are.
But if someone is calling you up and promising the sun,
the moon, the stars, all these various different things, you're
not the slightest bit like hmm, that doesn't seem to
make any sense. Again, they're out there, They're everywhere, and
(09:40):
you would you know, I would have thought again twenty
five years. I'm honestly I was naive. I guess twenty
five years ago when I started this show, I thought
we'd make a debt. I've been I've been trying to
empty the ocean with a with a bloody tablespoon for
crying out loud.
Speaker 3 (09:59):
And I have all the out.
Speaker 2 (10:00):
Agorithms that are set up to do all the news
searches across the country, whether investment fraud, Wall street fraud,
annuity scams, insurance scams. You know how many how many
stories I get a week.
Speaker 3 (10:16):
I couldn't keep up with them all.
Speaker 2 (10:19):
And it's the same thing again and again and again.
Another one here, the operator of a twenty four million
dollar investment fraud scam has been sentenced to thirty years
in prison in order to forfeit the proceeds of his
Ponzi scheme. The founder of Personal Money Management claim to
have developed a proprietary trading algorithm that promised high guaranteed
(10:43):
returns from trading stocks and bonds.
Speaker 3 (10:46):
What so this guy, he just comes up.
Speaker 2 (10:49):
With, first person in the history of the entire planet,
has got some magical, magical math formula here that is
guaranteeing returns from trading stocks, bonds. First person in the
history of the planet guaranteed. What are you kidding me.
Speaker 3 (11:11):
Again?
Speaker 2 (11:12):
Red flag, red flag, red flag people. You have to
wake up to this, you do. You have to stop
being victimized by this stuff again.
Speaker 3 (11:22):
I'll see it again.
Speaker 2 (11:23):
Everything in life that has meaning, value and worth involves work,
time and effort.
Speaker 3 (11:31):
Got to take another break.
Speaker 2 (11:32):
Watchdog on Wallstreet dot Com is a place you need
to get to again, our personal CFO program. Become a
part of our family. Build wealth the right way, the
only way. Watchdog on Wallstreet dot Com again. Our podcast
there as well our newsletter. Take advantage, do your homework
on us. Watchdog on Wallstreet dot Com.
Speaker 3 (11:54):
We'll be back.
Speaker 1 (12:11):
Taking Wall Streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Street.
Speaker 2 (12:22):
I used to call it Johnny Fontaine Investing. Oh, you're
not familiar with Johnny Fonte. If you're not familiar with
Johnny Fonte, you don't know who I'm talking about.
Speaker 3 (12:32):
Right now, do yourself a favor.
Speaker 2 (12:34):
Okay, you can shut the program off, shut the pipe,
pause it, okay, and go.
Speaker 3 (12:38):
Watch Godfather one. For crying out loud, shame on you.
Speaker 2 (12:42):
Johnny Fonte's Vito Corleone's godson, famous singer in the movie actor.
He comes comes on Vito Corleone's daughter's wedding and he
asks for a favor. Can no Sicilian can refuse to
anyone's request on their daughter's wedding. And he came in
(13:02):
from Hollywood. He wanted to be a part of this
big movie. He was basically blackballed, and he's whining. He's
whining to Vito Corleoni, and you know, Veto has no
patience for this. Stands up, grabs him, smacks him upside
the head and tells him he can act like a man.
(13:23):
That's in essence what we deliver here on the program.
We're telling you to own it and act like a man.
Look at these stories from this past week. Investors have
lost millions just over the past week. No, no, sorry, wrong,
billions billions over the past week on meme stocks as
(13:50):
pump and dump scams multiply. A handful of Nasdaq listed
Chinese companies crash last month after heavy promotion on social media.
You're buying You're buying stocks based upon what you heard
on social media.
Speaker 3 (14:11):
Really, really listen.
Speaker 2 (14:14):
Tia Castano, who runs her own executive coaching business was
added to a WhatsApp group after she clicked on an
advertarisement on Facebook. She eventually lost all of her savings
after being encouraged to invest in Austin Technology by what
she said looked like a legitimate US investment firm. Almost
every week for the past seven months, investor Link's founder
(14:36):
has emailed contacts including the ft two flag unusual social
media actipt.
Speaker 3 (14:40):
Listen, people, this is nothing new.
Speaker 2 (14:43):
It's easier for the con artists they use, you know,
send out massive amounts of emails.
Speaker 3 (14:49):
Do it via social media? Are you kidding me? Use
your head.
Speaker 2 (14:55):
It's a bloody penny stock for crying alan. What do
you think is go to happen? Oh you think you're
in the know now because you've heard about it on
social media. No, if it was worth anything, anything at all,
smart money would already.
Speaker 3 (15:16):
Be in it. And that's not you. You get it,
it's not you. Honestly, you're playing around in the pink shit.
Speaker 2 (15:25):
That's like, it's like a death wish for crying out
loud for your portfolio.
Speaker 3 (15:28):
And it's always been the case.
Speaker 2 (15:32):
Again, I know I'm yelling. I'm doing my you know,
veto you can act like a man. Okay, people, wake up.
Speaker 3 (15:41):
Wake up.
Speaker 2 (15:42):
Have to talk a little bit about this too, Dan,
I have been talking about this and again everything that
we've been telling you is again coming true, and that
has to do with private equity.
Speaker 3 (15:56):
Private equity. I want to talk about it.
Speaker 2 (15:59):
Yes again, I use this, this scenario in the past
to go back to the financial crisis. It's a place
place I love, place I love been to several times,
very fortunate, and I can't wait to go back there
again someday.
Speaker 3 (16:16):
It's that beautiful.
Speaker 2 (16:18):
It's the island of Santorini in Greece, and the island
of Santorini. I'm gonna do a little homework on it
is It's a crescent. It's a crescent island. It's got
a volcano that's out in the middle, that's in front
with there's water surrounding it. Basically, basically, over three thousand
(16:40):
years ago, that volcano blew up, blew the island to pieces,
blew the island to pieces, probably one of the largest.
They say it is one of the largest volcanic explosions
in the history of the planet. And there was a
civilization there, civilization on that island. It's called the Theren
(17:00):
and you can go. When you go there, they have
an unbelievable museum. You want to talk about how advanced
these people were. They're running all this stuff, they're digging
it all up. Had a population on that and they
estimated over thirty thousand. There is no sign, no sign
of this civilization anywhere else.
Speaker 3 (17:22):
They're just there.
Speaker 2 (17:23):
Some people said, oh, they must have been the They
must have been Atlantis. Nobody knows. Okay, advanced culture, art, architecture, indoor,
everything out there. Well, you know, they must have known.
They knew something was up. Okay, there might have been
some lava coming. How had to be some eruptions, right,
(17:47):
there must have been some issues in the same way
you go to Pompeii. Well, you mean to tell me
there was no signs that there's problems with this volcano.
The problem is is that everybody ignored it. Life was
too good. Life was too good in Pompeii. Life was
too good for the theorance. No, no, no, it's no private. No,
(18:12):
it's not gonna be a big deal. And that's that's
what happens all the time with blow ups and things
that we predict here on the program. I wrote this
column entitled Ignoring the Volcano. When back in two thousand
and eight about the financial crisis, everything that we'd been
talking about that everyone was choosing to ignore, the same
(18:35):
thing holds true right now with private equity. Oh yeah,
and it's starting to filter out right now. Private equity
investors want their money back, but it's tied up. It's
tied up in what we're calling now zombie funds. These
private equity companies are looking to find greater fools, greater suckers.
(19:00):
They're trying to sell these companies that they bought at
ridiculous valuations to somebody else. People can't get out. We've
been banging this drum for some time here on the program. Hey,
we have private equity relationships that we utilize for some
of our clients.
Speaker 3 (19:22):
However, it's not this garbage. It's not this garbage.
Speaker 2 (19:27):
In the same way that we warned you about the
sheer volume of garbage hedge funds that were out. This
is when that whole business really kicked into gear at
around what two thousand and three, two thousand and four,
two thousand and five, And we were spot on with that.
We're spot on with this as well. You better be
damn careful. And again this is why, this is why
(19:50):
they're pushing to get these these private equity companies inside
four or one case, because they're looking for suckers. I
am hoping and praying that the various different custodians are
going to take a while to figure it out. And
I hope these things implode because they deserve to implode.
(20:11):
Most of them are absolute garbage. Again, we've explained demonic
musical chairs.
Speaker 3 (20:17):
This is again, this is.
Speaker 2 (20:18):
The definition of demonic musical chairs. Gotta take a break.
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com.
Speaker 3 (20:27):
Again, become a part of our family.
Speaker 2 (20:29):
Personal CFO program, podcast, newsletter, you name it, Watchdog on
Wallstreet dot Com.
Speaker 3 (20:34):
We'll be back.
Speaker 1 (20:37):
Chris Markowski is the Watchdog on Wall Street. This is
(20:59):
the Watchdog on Wall Street.
Speaker 3 (21:07):
All right, we gotta talk talk some domestic issues right now.
Stuff that really is. It's turning my stomach without a doubt.
Speaker 2 (21:17):
I have always been a staunch defender of capitalism, staunch
defender of capitalism, staunch defender of the United States Constitution. Politicians,
both on the left and right, for whatever reason it
may be, they like to twist things to obviously serve
their own needs. And I've been consistent, I think consistent.
(21:41):
Go back to the the financial crisis, against the bailouts
how they were handled, was against the auto bailouts, how
it was handled. It was against Barack Obamas making homes
afford again, affordable, afford making homes affordable again, for all
that Craphamp program. This against it all, against the government
(22:04):
getting involved in student loans, against the government subsidizing this
subsidized in that we are consistent here on the program
because it never ever ever works. Ever, it makes things
more expensive for us. It causes a disconnect in the
free market. The idea that the United States now is
(22:26):
going to demand, to demand equity stakes in companies that
they're handing money out to.
Speaker 3 (22:33):
Oh it sounds good.
Speaker 2 (22:35):
And again Howard Lutnick, Howard Lutnick on TV this past
week saying.
Speaker 3 (22:40):
Out the buying administration Chip sacked.
Speaker 2 (22:42):
I don't understand gave gave all this billions and billions
of dollars to all these chip companies. This gave it
to them and we didn't get any anything in return,
and now we're going to demand equity.
Speaker 3 (22:54):
And some people again, Oh yeah, that makes sense, you know,
taxpayers should get something. Hold your horses. Okay, take a
step back first and foremost. Okay, it wasn't just the
Biden administration that gave money to these chips companies. And
we beat the drum here on the program at how
(23:15):
stupid this Chips Act was. Let me, let me go
to the videotape.
Speaker 2 (23:20):
Okay, yeah, Biden initiated it, but he wouldn't have passed
unless seventeen Republican senators voted for it. Twenty four House
Republicans voted for it. You see what should be done
right now is Donald Trump should repeal the Chips Act.
(23:40):
He should repeal it. Take the money again. Intel hasn't
even spent the money. I guess there were what was it,
eight eight billion dollars and handouts eleven billion dollars in
loan guarantees for Intel.
Speaker 3 (23:58):
Anyway, he should take the money. But we can't have that.
Speaker 2 (24:01):
Why what that won't happen is is that all of
these politicians House, Oh, look at we're bringing home the bacon.
Look at oh, look at all the money we're bringing back.
Both Republicans and Democrats, same thing. It's a unit party.
Speaker 3 (24:15):
There is.
Speaker 2 (24:15):
There's a problem when our government is going to take
stakes and companies. I can't even tell you what this
opens the door to down the road. You basically ordering companies.
Speaker 3 (24:25):
What to do. I don't what next sight?
Speaker 2 (24:28):
Oh, now these are going to be non voting shares, right, sure?
But what I want to think about this way too?
Can anybody? Can anybody out there name for me? Name
for me a government program that was started that was
ever cut?
Speaker 3 (24:43):
I fail. A government program can.
Speaker 2 (24:46):
Fail and fail and fail and fail for years decades.
Keep going doesn't make any difference that once that government
program starts, not only is it get refunded, it gets
more money the next year. So the government government gives
money to certain companies and now has an equity stake
in them. Okay, what do you think is going to
happen if those companies fail, They're just going to throw
(25:07):
more money into them. Let's throw more good money after bad.
Hayek warrens in the road to serf them. That state
ownership threatens both prosperity and liberty. As he defined it,
socialism involves state ownership and the direction of the economy,
(25:30):
And unfortunately, we're starting to look more and more like that.
That That is what Zizien Ping has been doing in China,
and he has stifled the Chinese economy. China's economy prior
(25:52):
to Xijen Ping was killing it. They were doing extraordinarily well.
They were hands off when it came to tech. They
let people, They didn't pump up the real estate market. Yeah,
did they subsidize certain industries and yeah, it's been an
absolute disaster. The government being involved in Intel. What it's
(26:15):
going to do is it's going to completely run a
circle override any sort of market driven innovation. Companies are
gonna have to favor bureaucratic priorities.
Speaker 3 (26:30):
Over what the market wants. That's the free markets how
it's supposed to work.
Speaker 2 (26:37):
State ownership also does what it's gonna expand public sector employment,
more special interest groups, suppression of dissent. I don't care,
oh ten percent stake, Ah, come on, come on. You
know what's gonna happen with this democrat gets in all
(26:59):
of a sudden, is gonna have to be unionized and
they're gonna have to pay this wage and they're gonna
have to.
Speaker 3 (27:05):
Do DEEI is this something that we really want to do? People?
Speaker 2 (27:11):
You can't get a little bit pregnant. You can't or
it's gonna be great for the taxpayer. No, it's not
gonna be great for the taxpayer. It's gonna be it's
gonna be another bill for the taxpayer. You just made
Intel too big to fail. I hate too big to fail.
(27:34):
I can't stand too big to fail. That's the thing.
I want my children to grow up with a world well,
guess what, Okay, it's okay to fail.
Speaker 3 (27:42):
You can succeed beyond.
Speaker 2 (27:43):
Your wireless streams, and you can also fall fat your face.
That's what builds wealth. And a great thing about this
country is you know what, it's okay, you can pick
yourself up. But now when we start putting up all yep, yep,
you're part of the system.
Speaker 3 (28:00):
Now, now you're in trench with government.
Speaker 2 (28:02):
Who in the right mind if somebody came up with
a great idea for a great new way of manufacturing
chips and they decide to say, hey, I'm gonna raise
money for this, I'm gonna go to Wall Street. They're
gonna say, go take a hike. You're not gonna be
able to compete against Uncle Sam. Nobody can. That's what
we're getting into. This is an absolute disaster. Have to
(28:26):
take a break. Watchdog on Wallstreet dot com. Watchdog on
Wallstreet dot com. Sorry people, I will die, Will die
on the hill of the Constitution and the free market
every day of the week.
Speaker 3 (28:39):
Watchdog on Wallstreet dot Com will be back.
Speaker 1 (28:59):
The man who is taking on the Wall Street establishment.
You're listening to the Watchdog and Wall Street with Chris Markowski.
Speaker 2 (29:09):
It's a term, a modern term used a lot now.
Speaker 3 (29:15):
It's called gas lighting.
Speaker 2 (29:16):
Basically modern definition is basically psychological manipulation technique in which
a person tries to convince someone that their reality is untrue.
Speaker 3 (29:29):
And again then the definition.
Speaker 2 (29:31):
It's a tactic often used by narcissists to gain control
of their intended target. And a couple stories lines that
came out this past week and I'm thicking gas lighting
and instantly popped in my head.
Speaker 3 (29:46):
I'm not kidding.
Speaker 2 (29:47):
There was an amusement park in upstate New York out
of Lake George when I was growing up, was called
Gaslight Village, and they had this jingle and then I
got it in my head the jingle again from the commercial,
back from the nineteen seventies village where we're living in
Gaslight Village. The inflation numbers come out, come out, mister president, please, okay,
(30:11):
stop stop, just be honest.
Speaker 3 (30:14):
Stop gaslighting.
Speaker 2 (30:17):
And the inflation numbers come out, the PPI evers and
they're awful. And he comes out and he says, the
inflation is down to a perfect number. There's hardly any
inflation at all. Come on, you don't have to do that,
you don't have to pretend. And then then the other one.
(30:39):
They other genius there, Pete Navarro. Pete Navarro actually said this.
He said, tariffs are a tax cut.
Speaker 3 (30:50):
Huh, why again they say these things?
Speaker 2 (30:56):
And when he said that in the interview, it was
the name Sarah I and on CNBC she didn't even
know how to respond. She was so it was so
out of out of line, so out of left field.
He said, how do you even come back.
Speaker 3 (31:09):
With something so ridiculous?
Speaker 2 (31:11):
Actually, I'll give you a good quote, an accurate quote
from Thomas Massey. He asked the question, why is Trump
sending troops to d C to fight crime? During the recess?
Speaker 3 (31:22):
All the criminals went home to the districts.
Speaker 2 (31:25):
There's there's a line I like, anyway, Watchdog on Wallstreet
dot com, Watchdog on Wallstreet dot com, don't go anywhere
we'll be back.
Speaker 1 (31:39):
You're listening to the watch Dog on Wall Street. You
should believe in not magic. You're listening to the Watchdog
(32:03):
on Wall Street with Chris Markowski.
Speaker 3 (32:12):
All they is.
Speaker 2 (32:13):
To watch Dog on Wall Street Show. And he had
Elizabeth Warren good old Elizabeth Warren Pocahontas there being interviewed
about Zohan Mandami because she came out in full support
of him. And she's being interviewed and you know, asked
about how Mandami wants to raise taxes to the.
Speaker 3 (32:35):
UH to infinity and beyond.
Speaker 2 (32:38):
In the City of New York, and she exploded, this
is gonna bring costs down. These billionaires. All this this
nonsense again the usual, just utter stupidity. This is what
happens when you raise taxes too high. Okay, this is
what happens. I got a list here. This is Globe
(33:00):
Millionaire Migration, the UK, the UK, and I'm gonna go
off on them a little bit later. Again, I don't
even know what they do there anymore. I know they
got the Premier League soccer. I think got dua lip
as a citizen. That's great. But other than that, other
than I really don't know what they do there. Anymore
(33:22):
except stupid crap. This past year alone, they have lost
sixteen thousand, five hundred millionaires.
Speaker 3 (33:33):
Oh no, no, no, no, no, no, no, no, no, no, no no,
I'm not kidding.
Speaker 2 (33:36):
Sixteen thousand, five hundred millionaires.
Speaker 3 (33:41):
Have up and left the UK.
Speaker 2 (33:44):
Why well, they had a tax deal there in the UK,
in London where any of your foreign earnings won't be
taxed in the UK.
Speaker 3 (33:56):
They won't be taxed in the UK.
Speaker 2 (33:57):
So it attracted many, many wealthy people from all over
the world.
Speaker 3 (34:03):
To live and buy houses in the UK.
Speaker 2 (34:06):
Now it's like a mass fire sale, mass firesale of
fancy houses, you name it. I was last I spent
some time in the UK was probably about six seven
years ago. I was in London, and again I was amazed.
I talked about here on the show, the type of
wealth that was there. We had wealth in places like
New York City. But people don't. They don't double park
(34:28):
a two million dollar Bugatti on the street. They do
that there in certain areas. It's crazy, it's nuts. Go
into their department stores there, Okay, you go to Sachs Sachs.
Speaker 3 (34:39):
Fifth Avenue there on Fifth Avenue, New York.
Speaker 2 (34:42):
The department store or you know any of the other
ones that they've got there.
Speaker 3 (34:47):
Yeah, yeah, people busy.
Speaker 2 (34:49):
Nothing nothing like the money that they throw around there
at those places in the UK, nothing like I've ever seen.
Speaker 3 (34:55):
Not anymore.
Speaker 2 (34:56):
They decided to say, hey, you know what, we're going
to change our tax laws, which have been around for
what hundreds and hundreds of years, and we're gonna whack
these people.
Speaker 3 (35:04):
So what do they do? They left sixteen thousand and
five hundred left.
Speaker 2 (35:08):
The UAE actually brought in the most amalion of millionaires
nine thousand, eight hundred United States second seven thousand, five hundred.
Actually they're talking about that right now. A lot of
those UK millionaires and billionaires are buying up property in
Miami at this point in time, and in other countries
(35:28):
that are getting wise to this Italy three thousand, six
hundred millionaires, Switzerland three thousand, Greece, portrag.
Speaker 3 (35:35):
Again, people are going to move.
Speaker 2 (35:39):
There comes to a point in time when they're just like, no, no,
that's it.
Speaker 3 (35:43):
Okay, that's it, that's it, Popeye, that's holes. I can stands.
I can't stands no more.
Speaker 2 (35:49):
So again, I don't know. Again, Mandami's running on this.
I don't think he's going to follow through with it.
Speaker 3 (35:57):
I really don't. Again, it basically dry up all the
money for New York City. It really would. Anyway, I'm
gonna talk about this as well.
Speaker 2 (36:07):
This is another populous type crap and you get dim
witted Republicans. I'm talking dim witted when it comes to
money and the economy.
Speaker 3 (36:16):
And there's plenty of them out there. Ah.
Speaker 2 (36:18):
He's a real patriot, this one. And he was in
the military and he was this, and he was that.
I said, that's all well and good, but you know what,
he doesn't understand how money works. He doesn't understand how
risk works. Another one there, Josh Holly Okay, oh yeah,
good old Josh. He was on a podcast on a
podcast with the head of the Teamsters Union, Sean O'Brien,
(36:42):
and uh oh yeah, they're complaining right now.
Speaker 3 (36:45):
This is ridiculous.
Speaker 2 (36:46):
These credit card rates and twenty eight twenty nine for
its terrible and we gotta we gotta do something. We
gotta get that down to ten percent. We're gonna write
a bill. I'm saying to myself, are you kid me?
You do not understand how risk works, how you people
will complain to me?
Speaker 3 (37:04):
It's not fair it's not right.
Speaker 2 (37:05):
Wall Wait a second, you don't have to go out
and borrow money at twenty eight twenty nine percent. You
really don't have to. And the funny thing is is
that you know what the teamsters right now just signed
to deal with Capital One where they're issuing their own
credit card for teamsters, and guess where.
Speaker 3 (37:23):
The interest rate is. It's like twenty seven percent. So
shut up, man, Okay, go sell your bull excimmit somewhere else. Okay,
it's twenty eight and twenty nine percent.
Speaker 2 (37:33):
Why they cannot repossess the vacation.
Speaker 3 (37:38):
They're not going to repossess.
Speaker 2 (37:39):
Your clothes, or your television or the dinner that you
went out to.
Speaker 3 (37:44):
Okay.
Speaker 2 (37:44):
The reason why interest rates are lower on mortgages and
cars is if you don't pay the bill, they're gonna come.
Speaker 3 (37:50):
And take them.
Speaker 2 (37:53):
If they ever signed a bill saying up. Credit card
rates can't be any higher than ten percent. The overwhelming
or to people out there will lose their credit card,
it will be canceled. They're not gonna take on the
type of risk it's just not worth it, or or
you're going to have to have find some way to say, hey,
(38:13):
I'm gonna have a credit card, but if I don't pay,
I gotta assign some sort of collateral to it. Well,
they'll be able to go after and take it. That's
the only way that that's going to happen.
Speaker 3 (38:23):
You get it.
Speaker 2 (38:26):
It's very very simple. You might not like it, but
it is what it is. Okay, there's no other way
around it. They're not gonna come and again. You can
see it all the time. You go to a bankruptcy
court and watch watch the people that game the system,
that get a ton of credit cards, bang them out
(38:47):
completely and declare bankruptcy.
Speaker 3 (38:49):
It's a credit card company. Do they're gonna come get
all of your stuff? What are they gonna do with
that repossessed television? They're gonna take that.
Speaker 2 (38:57):
No again, stupid populist ideas that sound good, but if
you think about them a little bit, they don't make
any sense. Watchdog on Wallstreet dot com. Watchdog on Wallstreet
dot com is our site.
Speaker 3 (39:12):
Don't go anywhere, We'll be back.
Speaker 1 (39:22):
Chris Markowski is the Watchdog on Wall Street
Well, no one all through investment banking, consumer advocate, analyst,
trader Chris Markowski is the watchdog the Wall Street. Do
you want to answer exposing the lines and myths that
the big brokerage firms, the mainstream press, and the government
are pushing to keep Americans away from financial freedom.
Speaker 2 (00:27):
You can't handle the truth.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 3 (00:34):
Ladies and gentlemen.
Speaker 2 (00:35):
We're not here to indulge in fantasy, but in political
and economic reality.
Speaker 1 (00:39):
This is the watchdog Wall Streets.
Speaker 2 (00:45):
Well, everybody, I was actually being interviewed this past week
and we're asking me about our radio program, this program
and kind of the things that makes it different in
our longevity and I have been able to stick around
for so long. Well, first, for us again, this is
(01:06):
a labor of love for me. We don't take I
don't take any advertising dollars for this program.
Speaker 3 (01:14):
Never, we just don't do it again.
Speaker 2 (01:18):
I don't want to even give any sort of idea
that we're bought and sold by anybody. And commercials you're
hearing on this program not mine, not mine, local network,
not mine. I don't I don't collect a dime from
any of this never have. The other thing is we
we would probably be a hell of a lot more successful.
(01:40):
Explain it to people. I would be a hell of
a lot more success. That will have a lot more stations.
You know, told this before get picked up by you know,
a network, So the remaining networks, because there's not many
left out there. If I picked a side, if I
picked a side and I went with that, and we
don't do that. Unfortunately, what's happened to the news today
(02:04):
is that it basically is catering to certain elements.
Speaker 3 (02:08):
If you are of.
Speaker 2 (02:09):
This persuasion, well then you know what. You go to
this station and they basically back your beliefs. If you
believe in this, they put you over there and they
really really really don't.
Speaker 3 (02:20):
Do much to challenge anybody.
Speaker 2 (02:23):
We we make people I do, and I understand this.
I make people uncomfortable here on the program because we're
brutally honest. The truth is not always easy, people, The
truth is not always easy. And I'm sure we've all
had some moments in time we've been happy with ourselves
(02:46):
or whatever it may be, and we, you know, try
to live and denial than I will. It's true. We
got to take that good, hard look in the mirror.
And that's what we really try to do here. And
it's very much in your face, and it isn't always
this way. We first started the program when I was
doing a lot of the ripoffs and scams. I spent
(03:09):
a I really got, you know, going off on these
crooks and these liars. And I still do and I
still do. They're bad people. I get all that. I
get all that, but again, nothing new under the sun.
Get rich quick con artists the world's second oldest profession,
(03:29):
and they are successful because what people are greedy. People
are greedy, they want to get rich quick. I was
doing my Bible in the year this past week, and
again I reminded me and I should have written it down.
It's popped into my head from Proverbs about the importance
(03:50):
of making money slowly. Money that has brought in little
by little over time will stick with you, whereas the
stuff that comes in quickly go away poof is gone.
The wisdom that's there, the stuff that we talk about
here on the program, I didn't come up with it.
It's timeless. And again, and Neanfro, I'm explaining that. I said,
(04:12):
you know that the things that you or what is
your portfolio philosophy all this, and I'm like, it's just
common sense. These are things that have been written about
thousands of years ago that are applicable today. And again
the change in the tone over my ears is again
(04:32):
I'm putting the onus on you out there. You're listening
to this program. You listen this program. You can either
choose to listen to what I'm telling you. And again
I highly recommend, highly recommend, do your homework on Markowski
investments and the Watchdog on Wall Street Show. Go read
(04:53):
my stuff, go back and listen, Go watch all the
calls that I've made over the year.
Speaker 3 (05:01):
They're there.
Speaker 2 (05:02):
Okay, you can choose to listen to what we're telling you,
or again, you know, you can choose to listen to
the get rich quick con guy.
Speaker 3 (05:14):
Choice is yours. Okay.
Speaker 2 (05:18):
The problem is is that when you lose money, it's
on you. Okay, don't blame don't blame the crook. Okay,
don't blame the crook. Look at it this way. I'll
put it to you this way. I remember when my
kids were little, we were at I think it was
that Bush Gardens in Florida.
Speaker 3 (05:36):
We're at the zoo, and I think.
Speaker 2 (05:38):
My son Steven, started asking, oh I remember what it
was now, Oh my god, it just came to me.
There was a vulture there, one of those big, big,
massive vultures.
Speaker 3 (05:48):
And my son asked me, that's a bad animal. And
I try to.
Speaker 2 (05:51):
Explain to him. I say, no such things as bad animals.
That that animal has a purpose in the same way
that a shark has a purpose, good, bad, indifferent. Okay, yeah, okay,
we're human beings and there are bad human beings out there,
but you have to know that they're out there. You
have to know that they exist. You don't have to
(06:13):
listen to them. Stop making excuses. Oh my god, it's
just coming up national pastime here. I'm gonna blame somebody else.
I'm gonna be the victim. You know, certain people, Okay, yeah,
they look to victimize senior sitting. They do a myriad
I get all that, but more often than not, okay,
(06:34):
more often than not, ninety plus percent of the time,
ninety percent of the time, it's someone out there that again,
why did a fast track the wealth? Why did it
get rich quick? Took on too much risk? And the
other issue as well. People listened that there's there's no
(06:54):
financial cops out there.
Speaker 3 (06:57):
Oh the sec. Here's the story from you.
Speaker 2 (07:02):
A Spartan Capital securities broker has been suspended over allegations
of churning elderly customers accounts, marking the second time he
has been sidelined for the same allegations.
Speaker 3 (07:15):
Again.
Speaker 2 (07:17):
This firm, Spartan Capital Securities, modern day chop house, modern
day chop house.
Speaker 3 (07:28):
That's all it is.
Speaker 2 (07:29):
And if you don't think, if you don't think that
Fenra and the SEC no exactly exactly what this firm
is and what it does they do. They don't do
a damn thing. They're not a cop. It is no
sort of there's not a cop on a beat. They're
not trying to prevent any crime. They come in after
(07:51):
the fact, after somebody has been ripped off, after somebody
has been scammed. Then they say, oh, look at this,
look at this, and then they go after them, they
get a fine, they throw them out of the business.
Why not be proactive? And I saw this back in
the nineties with all these boiler room operators, and again
(08:13):
they did all their clearing through bear Sterns and these
big firms, and I said, oh, everybody knows, everybody knows
the type of crooked crap that's going on. It's like
a wink, wink, nod, nod. Let's just let it go.
The sheer volume of people out there that have had
ethical bypasses at birth on Wall Street is extraordinary.
Speaker 3 (08:33):
To you, it is. But you need to know that.
You need to know that, and it's easy to avoid them.
That's the thing.
Speaker 2 (08:45):
It's not a difficult thing to avoid these grooks. All
you need to do is just to do a little
bit of homework, do a little bit of research on
who you're doing business with, who the firm is, what
are they all about, what are they giving to you?
Speaker 3 (09:01):
And I'm here, I've been here on the twenty five years.
Speaker 2 (09:08):
Send us an email, give us a call, ask us
if someone is.
Speaker 3 (09:13):
Legitimate or not.
Speaker 2 (09:14):
Yes, there are legitimate advisory firms out there, there are.
But if someone is calling you up and promising the sun,
the moon, the stars, all these various different things, you're
not the slightest bit like hmm, that doesn't seem to
make any sense. Again, they're out there, They're everywhere, and
(09:40):
you would you know, I would have thought again twenty
five years. I'm honestly I was naive. I guess twenty
five years ago when I started this show, I thought
we'd make a debt. I've been I've been trying to
empty the ocean with a with a bloody tablespoon for
crying out loud.
Speaker 3 (09:59):
And I have all the out.
Speaker 2 (10:00):
Agorithms that are set up to do all the news
searches across the country, whether investment fraud, Wall street fraud,
annuity scams, insurance scams. You know how many how many
stories I get a week.
Speaker 3 (10:16):
I couldn't keep up with them all.
Speaker 2 (10:19):
And it's the same thing again and again and again.
Another one here, the operator of a twenty four million
dollar investment fraud scam has been sentenced to thirty years
in prison in order to forfeit the proceeds of his
Ponzi scheme. The founder of Personal Money Management claim to
have developed a proprietary trading algorithm that promised high guaranteed
(10:43):
returns from trading stocks and bonds.
Speaker 3 (10:46):
What so this guy, he just comes up.
Speaker 2 (10:49):
With, first person in the history of the entire planet,
has got some magical, magical math formula here that is
guaranteeing returns from trading stocks, bonds. First person in the
history of the planet guaranteed. What are you kidding me.
Speaker 3 (11:11):
Again?
Speaker 2 (11:12):
Red flag, red flag, red flag people. You have to
wake up to this, you do. You have to stop
being victimized by this stuff again.
Speaker 3 (11:22):
I'll see it again.
Speaker 2 (11:23):
Everything in life that has meaning, value and worth involves work,
time and effort.
Speaker 3 (11:31):
Got to take another break.
Speaker 2 (11:32):
Watchdog on Wallstreet dot Com is a place you need
to get to again, our personal CFO program. Become a
part of our family. Build wealth the right way, the
only way. Watchdog on Wallstreet dot Com again. Our podcast
there as well our newsletter. Take advantage, do your homework
on us. Watchdog on Wallstreet dot Com.
Speaker 3 (11:54):
We'll be back.
Speaker 1 (12:11):
Taking Wall Streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Street.
Speaker 2 (12:22):
I used to call it Johnny Fontaine Investing. Oh, you're
not familiar with Johnny Fonte. If you're not familiar with
Johnny Fonte, you don't know who I'm talking about.
Speaker 3 (12:32):
Right now, do yourself a favor.
Speaker 2 (12:34):
Okay, you can shut the program off, shut the pipe,
pause it, okay, and go.
Speaker 3 (12:38):
Watch Godfather one. For crying out loud, shame on you.
Speaker 2 (12:42):
Johnny Fonte's Vito Corleone's godson, famous singer in the movie actor.
He comes comes on Vito Corleone's daughter's wedding and he
asks for a favor. Can no Sicilian can refuse to
anyone's request on their daughter's wedding. And he came in
(13:02):
from Hollywood. He wanted to be a part of this
big movie. He was basically blackballed, and he's whining. He's
whining to Vito Corleoni, and you know, Veto has no
patience for this. Stands up, grabs him, smacks him upside
the head and tells him he can act like a man.
(13:23):
That's in essence what we deliver here on the program.
We're telling you to own it and act like a man.
Look at these stories from this past week. Investors have
lost millions just over the past week. No, no, sorry, wrong,
billions billions over the past week on meme stocks as
(13:50):
pump and dump scams multiply. A handful of Nasdaq listed
Chinese companies crash last month after heavy promotion on social media.
You're buying You're buying stocks based upon what you heard
on social media.
Speaker 3 (14:11):
Really, really listen.
Speaker 2 (14:14):
Tia Castano, who runs her own executive coaching business was
added to a WhatsApp group after she clicked on an
advertarisement on Facebook. She eventually lost all of her savings
after being encouraged to invest in Austin Technology by what
she said looked like a legitimate US investment firm. Almost
every week for the past seven months, investor Link's founder
(14:36):
has emailed contacts including the ft two flag unusual social
media actipt.
Speaker 3 (14:40):
Listen, people, this is nothing new.
Speaker 2 (14:43):
It's easier for the con artists they use, you know,
send out massive amounts of emails.
Speaker 3 (14:49):
Do it via social media? Are you kidding me? Use
your head.
Speaker 2 (14:55):
It's a bloody penny stock for crying alan. What do
you think is go to happen? Oh you think you're
in the know now because you've heard about it on
social media. No, if it was worth anything, anything at all,
smart money would already.
Speaker 3 (15:16):
Be in it. And that's not you. You get it,
it's not you. Honestly, you're playing around in the pink shit.
Speaker 2 (15:25):
That's like, it's like a death wish for crying out
loud for your portfolio.
Speaker 3 (15:28):
And it's always been the case.
Speaker 2 (15:32):
Again, I know I'm yelling. I'm doing my you know,
veto you can act like a man. Okay, people, wake up.
Speaker 3 (15:41):
Wake up.
Speaker 2 (15:42):
Have to talk a little bit about this too, Dan,
I have been talking about this and again everything that
we've been telling you is again coming true, and that
has to do with private equity.
Speaker 3 (15:56):
Private equity. I want to talk about it.
Speaker 2 (15:59):
Yes again, I use this, this scenario in the past
to go back to the financial crisis. It's a place
place I love, place I love been to several times,
very fortunate, and I can't wait to go back there
again someday.
Speaker 3 (16:16):
It's that beautiful.
Speaker 2 (16:18):
It's the island of Santorini in Greece, and the island
of Santorini. I'm gonna do a little homework on it
is It's a crescent. It's a crescent island. It's got
a volcano that's out in the middle, that's in front
with there's water surrounding it. Basically, basically, over three thousand
(16:40):
years ago, that volcano blew up, blew the island to pieces,
blew the island to pieces, probably one of the largest.
They say it is one of the largest volcanic explosions
in the history of the planet. And there was a
civilization there, civilization on that island. It's called the Theren
(17:00):
and you can go. When you go there, they have
an unbelievable museum. You want to talk about how advanced
these people were. They're running all this stuff, they're digging
it all up. Had a population on that and they
estimated over thirty thousand. There is no sign, no sign
of this civilization anywhere else.
Speaker 3 (17:22):
They're just there.
Speaker 2 (17:23):
Some people said, oh, they must have been the They
must have been Atlantis. Nobody knows. Okay, advanced culture, art, architecture, indoor,
everything out there. Well, you know, they must have known.
They knew something was up. Okay, there might have been
some lava coming. How had to be some eruptions, right,
(17:47):
there must have been some issues in the same way
you go to Pompeii. Well, you mean to tell me
there was no signs that there's problems with this volcano.
The problem is is that everybody ignored it. Life was
too good. Life was too good in Pompeii. Life was
too good for the theorance. No, no, no, it's no private. No,
(18:12):
it's not gonna be a big deal. And that's that's
what happens all the time with blow ups and things
that we predict here on the program. I wrote this
column entitled Ignoring the Volcano. When back in two thousand
and eight about the financial crisis, everything that we'd been
talking about that everyone was choosing to ignore, the same
(18:35):
thing holds true right now with private equity. Oh yeah,
and it's starting to filter out right now. Private equity
investors want their money back, but it's tied up. It's
tied up in what we're calling now zombie funds. These
private equity companies are looking to find greater fools, greater suckers.
(19:00):
They're trying to sell these companies that they bought at
ridiculous valuations to somebody else. People can't get out. We've
been banging this drum for some time here on the program. Hey,
we have private equity relationships that we utilize for some
of our clients.
Speaker 3 (19:22):
However, it's not this garbage. It's not this garbage.
Speaker 2 (19:27):
In the same way that we warned you about the
sheer volume of garbage hedge funds that were out. This
is when that whole business really kicked into gear at
around what two thousand and three, two thousand and four,
two thousand and five, And we were spot on with that.
We're spot on with this as well. You better be
damn careful. And again this is why, this is why
(19:50):
they're pushing to get these these private equity companies inside
four or one case, because they're looking for suckers. I
am hoping and praying that the various different custodians are
going to take a while to figure it out. And
I hope these things implode because they deserve to implode.
(20:11):
Most of them are absolute garbage. Again, we've explained demonic
musical chairs.
Speaker 3 (20:17):
This is again, this is.
Speaker 2 (20:18):
The definition of demonic musical chairs. Gotta take a break.
Watchdog on Wallstreet dot com. Watchdog on Wallstreet dot com.
Speaker 3 (20:27):
Again, become a part of our family.
Speaker 2 (20:29):
Personal CFO program, podcast, newsletter, you name it, Watchdog on
Wallstreet dot Com.
Speaker 3 (20:34):
We'll be back.
Speaker 1 (20:37):
Chris Markowski is the Watchdog on Wall Street. This is
(20:59):
the Watchdog on Wall Street.
Speaker 3 (21:07):
All right, we gotta talk talk some domestic issues right now.
Stuff that really is. It's turning my stomach without a doubt.
Speaker 2 (21:17):
I have always been a staunch defender of capitalism, staunch
defender of capitalism, staunch defender of the United States Constitution. Politicians,
both on the left and right, for whatever reason it
may be, they like to twist things to obviously serve
their own needs. And I've been consistent, I think consistent.
(21:41):
Go back to the the financial crisis, against the bailouts
how they were handled, was against the auto bailouts, how
it was handled. It was against Barack Obamas making homes
afford again, affordable, afford making homes affordable again, for all
that Craphamp program. This against it all, against the government
(22:04):
getting involved in student loans, against the government subsidizing this
subsidized in that we are consistent here on the program
because it never ever ever works. Ever, it makes things
more expensive for us. It causes a disconnect in the
free market. The idea that the United States now is
(22:26):
going to demand, to demand equity stakes in companies that
they're handing money out to.
Speaker 3 (22:33):
Oh it sounds good.
Speaker 2 (22:35):
And again Howard Lutnick, Howard Lutnick on TV this past
week saying.
Speaker 3 (22:40):
Out the buying administration Chip sacked.
Speaker 2 (22:42):
I don't understand gave gave all this billions and billions
of dollars to all these chip companies. This gave it
to them and we didn't get any anything in return,
and now we're going to demand equity.
Speaker 3 (22:54):
And some people again, Oh yeah, that makes sense, you know,
taxpayers should get something. Hold your horses. Okay, take a
step back first and foremost. Okay, it wasn't just the
Biden administration that gave money to these chips companies. And
we beat the drum here on the program at how
(23:15):
stupid this Chips Act was. Let me, let me go
to the videotape.
Speaker 2 (23:20):
Okay, yeah, Biden initiated it, but he wouldn't have passed
unless seventeen Republican senators voted for it. Twenty four House
Republicans voted for it. You see what should be done
right now is Donald Trump should repeal the Chips Act.
(23:40):
He should repeal it. Take the money again. Intel hasn't
even spent the money. I guess there were what was it,
eight eight billion dollars and handouts eleven billion dollars in
loan guarantees for Intel.
Speaker 3 (23:58):
Anyway, he should take the money. But we can't have that.
Speaker 2 (24:01):
Why what that won't happen is is that all of
these politicians House, Oh, look at we're bringing home the bacon.
Look at oh, look at all the money we're bringing back.
Both Republicans and Democrats, same thing. It's a unit party.
Speaker 3 (24:15):
There is.
Speaker 2 (24:15):
There's a problem when our government is going to take
stakes and companies. I can't even tell you what this
opens the door to down the road. You basically ordering companies.
Speaker 3 (24:25):
What to do. I don't what next sight?
Speaker 2 (24:28):
Oh, now these are going to be non voting shares, right, sure?
But what I want to think about this way too?
Can anybody? Can anybody out there name for me? Name
for me a government program that was started that was
ever cut?
Speaker 3 (24:43):
I fail. A government program can.
Speaker 2 (24:46):
Fail and fail and fail and fail for years decades.
Keep going doesn't make any difference that once that government
program starts, not only is it get refunded, it gets
more money the next year. So the government government gives
money to certain companies and now has an equity stake
in them. Okay, what do you think is going to
happen if those companies fail, They're just going to throw
(25:07):
more money into them. Let's throw more good money after bad.
Hayek warrens in the road to serf them. That state
ownership threatens both prosperity and liberty. As he defined it,
socialism involves state ownership and the direction of the economy,
(25:30):
And unfortunately, we're starting to look more and more like that.
That That is what Zizien Ping has been doing in China,
and he has stifled the Chinese economy. China's economy prior
(25:52):
to Xijen Ping was killing it. They were doing extraordinarily well.
They were hands off when it came to tech. They
let people, They didn't pump up the real estate market. Yeah,
did they subsidize certain industries and yeah, it's been an
absolute disaster. The government being involved in Intel. What it's
(26:15):
going to do is it's going to completely run a
circle override any sort of market driven innovation. Companies are
gonna have to favor bureaucratic priorities.
Speaker 3 (26:30):
Over what the market wants. That's the free markets how
it's supposed to work.
Speaker 2 (26:37):
State ownership also does what it's gonna expand public sector employment,
more special interest groups, suppression of dissent. I don't care,
oh ten percent stake, Ah, come on, come on. You
know what's gonna happen with this democrat gets in all
(26:59):
of a sudden, is gonna have to be unionized and
they're gonna have to pay this wage and they're gonna
have to.
Speaker 3 (27:05):
Do DEEI is this something that we really want to do? People?
Speaker 2 (27:11):
You can't get a little bit pregnant. You can't or
it's gonna be great for the taxpayer. No, it's not
gonna be great for the taxpayer. It's gonna be it's
gonna be another bill for the taxpayer. You just made
Intel too big to fail. I hate too big to fail.
(27:34):
I can't stand too big to fail. That's the thing.
I want my children to grow up with a world well,
guess what, Okay, it's okay to fail.
Speaker 3 (27:42):
You can succeed beyond.
Speaker 2 (27:43):
Your wireless streams, and you can also fall fat your face.
That's what builds wealth. And a great thing about this
country is you know what, it's okay, you can pick
yourself up. But now when we start putting up all yep, yep,
you're part of the system.
Speaker 3 (28:00):
Now, now you're in trench with government.
Speaker 2 (28:02):
Who in the right mind if somebody came up with
a great idea for a great new way of manufacturing
chips and they decide to say, hey, I'm gonna raise
money for this, I'm gonna go to Wall Street. They're
gonna say, go take a hike. You're not gonna be
able to compete against Uncle Sam. Nobody can. That's what
we're getting into. This is an absolute disaster. Have to
(28:26):
take a break. Watchdog on Wallstreet dot com. Watchdog on
Wallstreet dot com. Sorry people, I will die, Will die
on the hill of the Constitution and the free market
every day of the week.
Speaker 3 (28:39):
Watchdog on Wallstreet dot Com will be back.
Speaker 1 (28:59):
The man who is taking on the Wall Street establishment.
You're listening to the Watchdog and Wall Street with Chris Markowski.
Speaker 2 (29:09):
It's a term, a modern term used a lot now.
Speaker 3 (29:15):
It's called gas lighting.
Speaker 2 (29:16):
Basically modern definition is basically psychological manipulation technique in which
a person tries to convince someone that their reality is untrue.
Speaker 3 (29:29):
And again then the definition.
Speaker 2 (29:31):
It's a tactic often used by narcissists to gain control
of their intended target. And a couple stories lines that
came out this past week and I'm thicking gas lighting
and instantly popped in my head.
Speaker 3 (29:46):
I'm not kidding.
Speaker 2 (29:47):
There was an amusement park in upstate New York out
of Lake George when I was growing up, was called
Gaslight Village, and they had this jingle and then I
got it in my head the jingle again from the commercial,
back from the nineteen seventies village where we're living in
Gaslight Village. The inflation numbers come out, come out, mister president, please, okay,
(30:11):
stop stop, just be honest.
Speaker 3 (30:14):
Stop gaslighting.
Speaker 2 (30:17):
And the inflation numbers come out, the PPI evers and
they're awful. And he comes out and he says, the
inflation is down to a perfect number. There's hardly any
inflation at all. Come on, you don't have to do that,
you don't have to pretend. And then then the other one.
(30:39):
They other genius there, Pete Navarro. Pete Navarro actually said this.
He said, tariffs are a tax cut.
Speaker 3 (30:50):
Huh, why again they say these things?
Speaker 2 (30:56):
And when he said that in the interview, it was
the name Sarah I and on CNBC she didn't even
know how to respond. She was so it was so
out of out of line, so out of left field.
He said, how do you even come back.
Speaker 3 (31:09):
With something so ridiculous?
Speaker 2 (31:11):
Actually, I'll give you a good quote, an accurate quote
from Thomas Massey. He asked the question, why is Trump
sending troops to d C to fight crime? During the recess?
Speaker 3 (31:22):
All the criminals went home to the districts.
Speaker 2 (31:25):
There's there's a line I like, anyway, Watchdog on Wallstreet
dot com, Watchdog on Wallstreet dot com, don't go anywhere
we'll be back.
Speaker 1 (31:39):
You're listening to the watch Dog on Wall Street. You
should believe in not magic. You're listening to the Watchdog
(32:03):
on Wall Street with Chris Markowski.
Speaker 3 (32:12):
All they is.
Speaker 2 (32:13):
To watch Dog on Wall Street Show. And he had
Elizabeth Warren good old Elizabeth Warren Pocahontas there being interviewed
about Zohan Mandami because she came out in full support
of him. And she's being interviewed and you know, asked
about how Mandami wants to raise taxes to the.
Speaker 3 (32:35):
UH to infinity and beyond.
Speaker 2 (32:38):
In the City of New York, and she exploded, this
is gonna bring costs down. These billionaires. All this this
nonsense again the usual, just utter stupidity. This is what
happens when you raise taxes too high. Okay, this is
what happens. I got a list here. This is Globe
(33:00):
Millionaire Migration, the UK, the UK, and I'm gonna go
off on them a little bit later. Again, I don't
even know what they do there anymore. I know they
got the Premier League soccer. I think got dua lip
as a citizen. That's great. But other than that, other
than I really don't know what they do there. Anymore
(33:22):
except stupid crap. This past year alone, they have lost
sixteen thousand, five hundred millionaires.
Speaker 3 (33:33):
Oh no, no, no, no, no, no, no, no, no, no, no no,
I'm not kidding.
Speaker 2 (33:36):
Sixteen thousand, five hundred millionaires.
Speaker 3 (33:41):
Have up and left the UK.
Speaker 2 (33:44):
Why well, they had a tax deal there in the UK,
in London where any of your foreign earnings won't be
taxed in the UK.
Speaker 3 (33:56):
They won't be taxed in the UK.
Speaker 2 (33:57):
So it attracted many, many wealthy people from all over
the world.
Speaker 3 (34:03):
To live and buy houses in the UK.
Speaker 2 (34:06):
Now it's like a mass fire sale, mass firesale of
fancy houses, you name it. I was last I spent
some time in the UK was probably about six seven
years ago. I was in London, and again I was amazed.
I talked about here on the show, the type of
wealth that was there. We had wealth in places like
New York City. But people don't. They don't double park
(34:28):
a two million dollar Bugatti on the street. They do
that there in certain areas. It's crazy, it's nuts. Go
into their department stores there, Okay, you go to Sachs Sachs.
Speaker 3 (34:39):
Fifth Avenue there on Fifth Avenue, New York.
Speaker 2 (34:42):
The department store or you know any of the other
ones that they've got there.
Speaker 3 (34:47):
Yeah, yeah, people busy.
Speaker 2 (34:49):
Nothing nothing like the money that they throw around there
at those places in the UK, nothing like I've ever seen.
Speaker 3 (34:55):
Not anymore.
Speaker 2 (34:56):
They decided to say, hey, you know what, we're going
to change our tax laws, which have been around for
what hundreds and hundreds of years, and we're gonna whack
these people.
Speaker 3 (35:04):
So what do they do? They left sixteen thousand and
five hundred left.
Speaker 2 (35:08):
The UAE actually brought in the most amalion of millionaires
nine thousand, eight hundred United States second seven thousand, five hundred.
Actually they're talking about that right now. A lot of
those UK millionaires and billionaires are buying up property in
Miami at this point in time, and in other countries
(35:28):
that are getting wise to this Italy three thousand, six
hundred millionaires, Switzerland three thousand, Greece, portrag.
Speaker 3 (35:35):
Again, people are going to move.
Speaker 2 (35:39):
There comes to a point in time when they're just like, no, no,
that's it.
Speaker 3 (35:43):
Okay, that's it, that's it, Popeye, that's holes. I can stands.
I can't stands no more.
Speaker 2 (35:49):
So again, I don't know. Again, Mandami's running on this.
I don't think he's going to follow through with it.
Speaker 3 (35:57):
I really don't. Again, it basically dry up all the
money for New York City. It really would. Anyway, I'm
gonna talk about this as well.
Speaker 2 (36:07):
This is another populous type crap and you get dim
witted Republicans. I'm talking dim witted when it comes to
money and the economy.
Speaker 3 (36:16):
And there's plenty of them out there. Ah.
Speaker 2 (36:18):
He's a real patriot, this one. And he was in
the military and he was this, and he was that.
I said, that's all well and good, but you know what,
he doesn't understand how money works. He doesn't understand how
risk works. Another one there, Josh Holly Okay, oh yeah,
good old Josh. He was on a podcast on a
podcast with the head of the Teamsters Union, Sean O'Brien,
(36:42):
and uh oh yeah, they're complaining right now.
Speaker 3 (36:45):
This is ridiculous.
Speaker 2 (36:46):
These credit card rates and twenty eight twenty nine for
its terrible and we gotta we gotta do something. We
gotta get that down to ten percent. We're gonna write
a bill. I'm saying to myself, are you kid me?
You do not understand how risk works, how you people
will complain to me?
Speaker 3 (37:04):
It's not fair it's not right.
Speaker 2 (37:05):
Wall Wait a second, you don't have to go out
and borrow money at twenty eight twenty nine percent. You
really don't have to. And the funny thing is is
that you know what the teamsters right now just signed
to deal with Capital One where they're issuing their own
credit card for teamsters, and guess where.
Speaker 3 (37:23):
The interest rate is. It's like twenty seven percent. So
shut up, man, Okay, go sell your bull excimmit somewhere else. Okay,
it's twenty eight and twenty nine percent.
Speaker 2 (37:33):
Why they cannot repossess the vacation.
Speaker 3 (37:38):
They're not going to repossess.
Speaker 2 (37:39):
Your clothes, or your television or the dinner that you
went out to.
Speaker 3 (37:44):
Okay.
Speaker 2 (37:44):
The reason why interest rates are lower on mortgages and
cars is if you don't pay the bill, they're gonna come.
Speaker 3 (37:50):
And take them.
Speaker 2 (37:53):
If they ever signed a bill saying up. Credit card
rates can't be any higher than ten percent. The overwhelming
or to people out there will lose their credit card,
it will be canceled. They're not gonna take on the
type of risk it's just not worth it, or or
you're going to have to have find some way to say, hey,
(38:13):
I'm gonna have a credit card, but if I don't pay,
I gotta assign some sort of collateral to it. Well,
they'll be able to go after and take it. That's
the only way that that's going to happen.
Speaker 3 (38:23):
You get it.
Speaker 2 (38:26):
It's very very simple. You might not like it, but
it is what it is. Okay, there's no other way
around it. They're not gonna come and again. You can
see it all the time. You go to a bankruptcy
court and watch watch the people that game the system,
that get a ton of credit cards, bang them out
(38:47):
completely and declare bankruptcy.
Speaker 3 (38:49):
It's a credit card company. Do they're gonna come get
all of your stuff? What are they gonna do with
that repossessed television? They're gonna take that.
Speaker 2 (38:57):
No again, stupid populist ideas that sound good, but if
you think about them a little bit, they don't make
any sense. Watchdog on Wallstreet dot com. Watchdog on Wallstreet
dot com is our site.
Speaker 3 (39:12):
Don't go anywhere, We'll be back.
Speaker 1 (39:22):
Chris Markowski is the Watchdog on Wall Street
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
New Heights with Jason & Travis Kelce
Football’s funniest family duo — Jason Kelce of the Philadelphia Eagles and Travis Kelce of the Kansas City Chiefs — team up to provide next-level access to life in the league as it unfolds. The two brothers and Super Bowl champions drop weekly insights about the weekly slate of games and share their INSIDE perspectives on trending NFL news and sports headlines. They also endlessly rag on each other as brothers do, chat the latest in pop culture and welcome some very popular and well-known friends to chat with them. Check out new episodes every Wednesday. Follow New Heights on the Wondery App, YouTube or wherever you get your podcasts. You can listen to new episodes early and ad-free, and get exclusive content on Wondery+. Join Wondery+ in the Wondery App, Apple Podcasts or Spotify. And join our new membership for a unique fan experience by going to the New Heights YouTube channel now!