August 30, 2025 • 39 mins
In this episode of the Watchdog on Wall Street, Chris Markowski discusses the realities of the financial world, focusing on the persistence of fraud, government intervention in the economy, and the role of the Federal Reserve. He critiques the political influence on economic policies and emphasizes the need for accountability in financial institutions. The conversation also touches on the challenges facing the housing market and the impact of interest rates on the economy, concluding with a call to action for listeners to engage with these critical issues.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
Well, no one altered 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 true proof.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 2 (00:34):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:39):
This is the Watchdog on Wall Streets.
Speaker 3 (00:45):
Is welcome back, everybody, one of the only the Watchdog
on Wall Street Show. Before we get into I got
to get into some of the big economic stories. In particular,
we got to talk about the Fed Reserve and leads
to pay, what's gonna happen there.
Speaker 2 (01:02):
We also obviously have to.
Speaker 3 (01:03):
Talk about the government and it's a grand desire to
take steaks in American companies going to do that as well.
Speaker 2 (01:11):
I have to touch on this again. Do you think
you know?
Speaker 3 (01:16):
I guess you think you get rid of cockroaches, but
you never really get rid of cockroaches. They always kind
of find their way back. This is a firm on
Long Island. Firm on Long Island again, this was ground zero,
ground zero back in the late eighties, early to mid
nineties with all the penny stock boiler room fraud. Still
(01:38):
have it out there, obviously, I thought they did away
with most of it. Did They're there, The cockroaches didn't
go away. They're also South Florida as well, in particular
and run the Boca Ratan Palm Beach area.
Speaker 2 (01:50):
Listen this.
Speaker 3 (01:50):
For the third time this month, a fin Rock panel
again regulators has awarded a client of A. D. Morgan
Financial Advisors compensation following allegations at the firms to advisor
owners fail to make suitable investment recommendations. Yeah, first and foremost,
(02:13):
this is right out of the movie boiler Room. Why
do you think they name their firm A. G. Morgan
So when they're calling people up, they can make it
sound like they're calling from JP Morgan. They're calling retirees,
They're calling people out there that normally could never have
an account with JP Morgan because they don't have ten
(02:34):
twenty million dollars call from Morgan.
Speaker 2 (02:36):
Do you understand who you're speaking with right now? This
is an opportunity.
Speaker 3 (02:40):
Look it up. Okay, I'm giving an opportunity. You can't
work with JP Morgan unless you've got that X amount
of dollars. This is the pitch that they're giving to
people on the phone. Again, I know exactly what they're
up to, putting people into God again, in this case,
a lot of private equity fund that completely blew up
(03:01):
in people's faces. Now this is the third time this month,
the same two guys, Yet this firm is still in business.
You think that there's actually some sort of regulator out
there that actually does a decent job. They don't. They
don't stop anything. Eventually, they may step in and say, Okay,
enough's enough, that's all.
Speaker 2 (03:22):
That's it.
Speaker 3 (03:23):
We're gonna put you guys out of business. They'll pay
a fine, they'll walk away.
Speaker 1 (03:29):
Again.
Speaker 2 (03:29):
People say it again.
Speaker 3 (03:31):
Everything in life that has meaning, value and worth involves work,
time and effort. And again, if you have any questions
at all in regards to any firm, whether it's legit
or not, any investment, call us, get to our website,
send me an email. Okay, you're gonna go to the
(03:52):
top of the list. We try to save people from
harming themselves.
Speaker 2 (03:57):
All the time. That's what we do. Now, you could
choose not to listen.
Speaker 3 (04:03):
You can choose not to listen, because plenty you have
chosen not to listen to what I've had to say
here on the program.
Speaker 2 (04:08):
Yeah, they all of a sudden knew more than me.
Oh yeah.
Speaker 3 (04:11):
Did anybody ever call me up and say, Chris, you
were wrong? No? No, And I've had this show for
twenty five years. So again, choice is yours. It's up
to you, all right, big question. And I know I'm
gonna get all sorts of a catch hell because of this,
because again, people still many people still have this. They
(04:33):
pledge allegiance to a president or a political candidate. I'm
gonna put it this way. If during the campaign Donald
Trump were just to come out and say that he
was going to actively look to take equity positions in
companies here in this country, what would you have said?
(04:59):
I mean, honestly, all right, better, let me put this way.
Let's say Joe Biden's pressure Barack Obomb whatever it may be.
And they came out and they said, you know, we're
gonna start giving money to companies, and we're going to
start taking We're gonna own stock in those companies. Oh
my god, oh, Sean Hannity would have had a collective
(05:22):
freak out on the Oh, this is socialists, you can't
do this. Well, it's being done. And I'm gonna give
you the argument the other the size of it.
Speaker 2 (05:31):
You know, we're giving them giving the money to Intel.
You know the American tax payers should get something backed
for that. Totally right.
Speaker 3 (05:38):
Well, I got an idea, why don't you get rid
of the Chips Act and not give Intel a dime?
How's that sound? Don't give Intel a dime? Let Intel fail,
because that's that's how it's supposed to work. You take
a good, hard look around you and what this country
has accomplished. A type of wealth that we've created here
(06:00):
in this country two centuries and a half, okay, hasn't
been with the government.
Speaker 2 (06:10):
Stepping in and bailing out companies. That's a new thing.
That's a new thing. And how has that worked out?
Speaker 3 (06:18):
How has that worked out when we decided that we
could get a little bit pregnant, going back to two
thousand and eight, two thousand and nine, Banks, AIG, automakers,
how has that worked out? Has the country's fiscal position
has it improved? No, No, it hasn't. Again, it's become
(06:44):
be honest, what we do now on the president now,
I'll all Barack obamac I'm on the president now, and
I like green stuff.
Speaker 2 (06:52):
We like green stuff, lots and lots of green stuff.
So we're gonna start handing out money to the Clindras
and the Fiskers and all all this stuff out there.
But oh you have a Trump's gonna do it now
with the chips, Actor's gonna take gonna take an equity position. Really,
let me ask you a question.
Speaker 3 (07:12):
Let me ask the question, now that we own a
stake in Intel, what if Intel continues to do poorly?
Have you ever known a failed government program to end?
Speaker 2 (07:26):
Ever? No, I don't. I can't think of one. Quite frankly.
We just keep giving.
Speaker 3 (07:32):
I mean those tried there, those tried, they drove Elon
Musk crazy, he left.
Speaker 2 (07:39):
Failed government programs, they just keep going on. Now, let
me ask you a question.
Speaker 3 (07:44):
As far as the free market is concerned, let somebody,
let's less, somebody comes up. This is what happens here
in this country, creative destruction. It's smart people here. It's
come up with a new way of manufacturing chips, a
better way, new business, build a better mousetrap people will
be the path to your door. Do you think that company,
(08:06):
in any way, shape, matter, or form, is going to
be able to get financing? No, no way, no how.
Reason being is you can't compete against Uncle Sam.
Speaker 2 (08:21):
Uncle Sam.
Speaker 3 (08:22):
Now Uncle Sam is the umpire, the referee rights the rules.
Now we have a steak in Intel. Well, guess what
we got to protect our stake in Intel, So we
got to make it more difficult on competitors. Do you
understand what we're doing to do understand the moral hazard
of what's.
Speaker 2 (08:41):
Going on.
Speaker 3 (08:43):
The only way, the only way I thought that this,
the only way they can make this work, okay, is
if Donald Trump, Donald Trump, he's got Oh, we got
all these shares in Intel. Now, why don't you send
divide the shares up between all Americans and send them
to people like a de bait check. I didn't even
look it up and see how many shares it would
(09:04):
actually be all.
Speaker 2 (09:05):
Together, and just send them. Ah, you know, we got
an equity stake, Send it to every single American citizen.
Speaker 3 (09:12):
You get your two three shares of Intel. Wow, that's
a little dividend right there. How about that? And it
takes away the moral has that's the only way you
could do this where it makes any sense. If not, guys,
this is it's straight up socialists, man. And now they're
they're they're talking about that. I watched Howard Lutnick talking
(09:35):
about the monumental discussions that are taking place, monumental discussions
that are taking place with UH because of the defense
contractors and the amount of revenue that they're generating from
we the taxpayers, and now we're going to take a
stake in that.
Speaker 2 (09:53):
I'm like, Holy Military Industrial Complex on steroids? Are you nuts?
It was funny.
Speaker 3 (10:04):
And you watch these Republicans come up come up with
these I'm watching Kevin McCarthy, Well, you know, we gotta
you know, we gotta make sure that Intel we're making
enough chips here because we're competing with China. Now we're
competing at trying and he keeps, oh, China's gonna invade
Taiwan by twenty twenty eight, so we gotta make sure
(10:24):
that we're all ready to go and have this here.
And I'm scratching my head at the same time, I'm
saying myself, wait a second, here, you're saying that we're
gonna go to war because of China's gonna invade Taiwan
by twenty twenty seven, twenty eight, Yet we're going to
still allow six hundred thousand of their students to come
study here in the United States.
Speaker 2 (10:43):
Uh, correct me if I'm wrong here. We didn't allow six.
Speaker 3 (10:46):
Hundred thousand students from the Soviet Union to come study
during the Cold War.
Speaker 2 (10:51):
So which is it here?
Speaker 3 (10:55):
You're not to mention, You're you're again, You're you're letting,
You're letting the chips companies again.
Speaker 2 (10:59):
You're you're saying we're gonna be going to war a
couple of years with these guys. We gotta be.
Speaker 3 (11:02):
Ready, but we're going to be selling them chips as well.
There's there's no logic or reason to what they're putting out.
This is not a good deal. This is not a
good deal. Companies need to fail. The government needs to
(11:24):
act as the referee, the umpire, and get out of
the way.
Speaker 2 (11:32):
It's real simple, Okay, real simple.
Speaker 3 (11:36):
If I ask yourself the question, oh we have you start,
you start doing the whole butts.
Speaker 2 (11:40):
But but Trump but trying to do the right thing for
the American people. ME ask you a question, what what
what you know?
Speaker 3 (11:48):
We turn around here turn around twenty twenty eight, and
we've got president aok.
Speaker 2 (11:55):
President ayok, what do you think she's gonna want to buy.
Speaker 1 (11:59):
Wa?
Speaker 2 (11:59):
What do you think I mean again? New Green deal? Right?
But what say AOK.
Speaker 3 (12:04):
Wins and there's a oh, they get, they get, they
get the House, they get the Senate, and then all
of a sudden we start going to full full boar ahead.
We start financing all sorts of green nonsense or transsurgery centers.
Speaker 2 (12:17):
Okay, you do understand we have that.
Speaker 3 (12:21):
We're nation of laws for a reason, we have checks
and balances for a reason.
Speaker 2 (12:33):
It has gotten out of control.
Speaker 3 (12:35):
We do not need an executive branch of government with
this type of power, and it needs to be stopping.
You know what's it's funny is, as you watch, and
I'll talk about this later, there really isn't any sort
of Republican party with giving any sort of opposition outside
of again Thomas Massey ran Paul uh the Freedom Caucus
(12:59):
there joke. Oh, they might make a comment or two
on Fox News, but they're not gonna do anything to
stop this. You don't find that the slightest bit problematic,
And don't say you voted for this because he didn't
talk about this, never mentioned this one time.
Speaker 2 (13:15):
Okay, you didn't vote for this. I know plenty of people.
Speaker 3 (13:20):
Plenty of people say, no, way, no, how would I
vote for anything like this.
Speaker 2 (13:24):
This is not the government's job anyway.
Speaker 3 (13:29):
You know what, We're gonna take a break right here,
and I'm gonna get back in. I know, I'm gonna
get the emails on all sorts of stuff. But again, people,
you know you're new to this program. You're a super
Trump supporter or whatever it may be. You know, do
me a favor. Okay, I'm gonna delete your email if
you start giving nasty comments.
Speaker 2 (13:45):
Okay, if you have a kosion argument, yeah, I'll reply.
Speaker 3 (13:49):
I'll get into a conversation, because that's what a debate
is supposed to be.
Speaker 2 (13:52):
Debates are supposed to be.
Speaker 3 (13:53):
About coming to a truth, not about giving the West
one liner. Okay, that's what That's what fool That's what
rap battles are for, not for building any sort of intelligence.
Watchdog on Wall Street dot com. Watchdog on Wall street
dot com again, our personal CFO program, our podcast, our newsletter,
take Advantage, Watchdog on Wallstreet dot Com.
Speaker 2 (14:16):
We'll be back. I think you want to know, doesn't
matter of control.
Speaker 1 (14:36):
The only man who is taking on the Wall Street establishment.
You're listening to The Watchdog and Wall Street with Chris Markowski.
Speaker 3 (14:44):
Yes, some early nineties rhythm in blues. Sounds like it's
like a Boomerams soundtrack.
Speaker 2 (14:49):
Or something like that. Anyway, welcome back. It is the
Watchdog on Wall Street show. Okay.
Speaker 3 (14:56):
Got into a few debates about this this last week,
and you know some of the comments I began for you,
come on, Chris, come on, She's totally guilty now, at
least the cook, at least the cook.
Speaker 2 (15:08):
See totally guilty. Man, I can't believe it. Totally guilty.
What Okay, maybe maybe, but that's not the point. Not
the point. I'm talking about Trump firing at least a cook.
Speaker 3 (15:27):
She's a Federal Reserve Board governor. Federal Reserve Board governor
fired her because I guess, and again I don't. I
don't have all the details what I've seen. She listed
two homes as her primary residence, and by doing that,
supposedly allegedly she got better loan terms. Okay, where did
(15:51):
this come from? Let's break this entire thing down, Okay,
Bill Pulty. Bill Pulty went through and he went through
all the members of the FED.
Speaker 2 (16:02):
You know what this remind me of.
Speaker 3 (16:03):
This is just kind of dirty type politics. Quite frankly
kind of I said, I can ever be a politician.
I can't be around people like this. Again, I'm gen x. Okay,
Breakfast Club was one of our big movies back in
the day. There was a scene him over the Breakfast
Club where the principal was named Richard Vernon. Richard Vernon
(16:24):
is looking in the employment files, the certain employment files
of the staff at the school, and he gets caught
by Carl, the janitor like snooping around looking for dirt
on some of the school teachers.
Speaker 2 (16:38):
There a little.
Speaker 3 (16:39):
Scene in the movie that pomped into my head, and
that's what I can think about right now, is that
where right now we've got the Donald Trump wants to
do without a doubt, he wants to take control.
Speaker 2 (16:49):
He feels like it's his right.
Speaker 3 (16:50):
And there's people that will argue and say, yes, the
executive branch of government should have control of the FED.
Speaker 2 (16:55):
I disagree with that.
Speaker 3 (16:58):
I disagree with that, but people will make that argument,
and he wants to put his people in So they
found this thing on Lisa Cook. Okay, Okay, fine, this
was not too long ago. Not too long ago was
We reported on it here on the program. This going
back to twenty twenty one, do you remember do you
(17:21):
remember when members of the FED got caught making large
financial transactions at certain points time because obviously our members,
the FED, they had inside information what was going to
go on. You had Dallas FED President Robert Kaplan, Boston
FED President Eric rosenngranted, and then I think eventually it
(17:42):
was Richard de Clarita as well, buying into stocks, rotating
money into things again daked.
Speaker 2 (17:49):
You knew what was going on. Massive scandal at the time.
Speaker 3 (17:53):
Now granted it was during COVID, Okay, we covered it here.
You know, financials, it was huge, okay. And they were
asked to resign. They did, They were asked her. Jay
Powell obviously picked up the phone and said, you know what,
you guys have to go.
Speaker 2 (18:08):
Again. The information was there. As of right now, As
of right now, there hasn't been any charges filed for
Lisa Cook in the arguments.
Speaker 3 (18:21):
Well, you know, she hasn't come out and said anything
about these allegations. Yeah, let me repeat this. I said
it on the podcast this past week.
Speaker 2 (18:29):
I am not a lawyer. I'm not a lawyer.
Speaker 3 (18:31):
And no, I didn't stay in a holiday in express
last night. But I'm throwing this out there. Why would
you come out and start defending yourself, okay, in a
supposed criminal matter if you haven't even been charged.
Speaker 2 (18:52):
You haven't even been charged. And again, last.
Speaker 3 (18:57):
Time I checked, people could be me, call me crazy,
and I'm going back. I'm going back to junior high
civics for crying out loud. But this still remain the
same that you are innocent until proven guilty here in
this country. All I'm saying is this doesn't look good.
(19:19):
This is not a good look.
Speaker 2 (19:21):
You don't do this. You don't wage this.
Speaker 3 (19:23):
On truth social on social media. You call up j
Powell and you say, hey, listen, man, what's up with this? Okay,
she has to answer this, not to mention the fact.
And again this is the point that I you know,
some of the people that were sending me message, I
am consistent here on the program, consistent. Okay, Again, what
(19:47):
she did was basically a speeding ticket. It is what
it is Brooke law. But it still a speeding ticket. Again,
you know what time is it right now? I can't
even think of the amount of laws we have in
this country. What laws I've broken at this point in
time during the course of the day.
Speaker 2 (20:00):
But anyway, do you.
Speaker 3 (20:01):
Remember one long ago Donald Trump was getting in all
sorts of trouble, why for the same thing. The same
thing was he was putting ridiculous valuations on his properties
to get better, you know, loan loan terms. He said
that his apartment in New York City was bigger than
(20:22):
it actually was.
Speaker 2 (20:24):
And what did I say? This is no big deal. Okay,
it's up to the banks to figure this stuff out.
He's a real estate guy. For crying out loud. Either way,
it's not a good look. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com got a little bit more
on this when we get back. Don't go anywhere.
Speaker 1 (20:58):
You should believe in not magic. You're listening to the
Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:06):
All right, welcome back everybody.
Speaker 3 (21:07):
It is it's just this slow dance music at the proms.
Speaker 2 (21:12):
Back of there. Anyway, Welcome back.
Speaker 3 (21:13):
It is the watch Talk on Wall Street Show. Always
honored to have you tuned into the program. Now, as
far as the feder Reserve is concerned, Okay, I'm not
sticking up for J.
Speaker 2 (21:21):
Powell.
Speaker 3 (21:22):
I'm not sticking up for the Fed. Get anybody who's
been listening to this program. I have ripped into them,
and they're incompetence. I make fun of them all the time.
You got four, four or five hundred economists working for
the Federal Reserve, trying to find one that's actually ever
had a.
Speaker 2 (21:38):
Real job in their entire life.
Speaker 3 (21:40):
Someone who's actually worked in the private sector.
Speaker 2 (21:44):
You know, remember the old Dunkin Donuts commercial.
Speaker 3 (21:47):
Time to make the donuts, People that have actually gone
out and made the donuts, sign the front of a check.
How to come up with a marketing plan, how to
come up with a payroll. People that actually really understand
how the economy we no, no, no, I know.
Speaker 2 (22:01):
You go to all these people with their theories, you
get lots of degrees, lots of expensive degrees, lots of
expensive artwork on the walls.
Speaker 3 (22:08):
Those you know, those diplomas are very expensive. Yay, look
at me, We're gonna make decisions. And yet they're wrong
again and again and again. And the reality is, yes,
the Fed has become political.
Speaker 2 (22:19):
I get all that.
Speaker 3 (22:22):
I don't think the answer is making it allowing it
to even become more political. If Donald Trump is able
this goes through and again he's only able to fire
somebody for cause, but they don't stipulate what cause is. Again,
this is someone that is being fired for an allegation,
(22:44):
hasn't been charged with anything. If this goes through, well
then anything could be a cause. Right then not a
lawyer didn't stay at a holiday and express. But again,
couldn't anything be a cause?
Speaker 2 (22:59):
Meaning? What? Meaning?
Speaker 3 (23:01):
That the president basically controls the FED? And you know
this has happened in the past. People, It's happened in
places like Argentina, Turkey. How's that worked out for them?
Speaker 2 (23:16):
How's it worked out for them? Not good? Again?
Speaker 3 (23:19):
I know President's jaw bone Donald Trump jaw bones Jay
Powell for crying out loud.
Speaker 2 (23:25):
Richard Nixon owned owned the FED.
Speaker 3 (23:32):
And look at the inflation that was causing the issues
that we had there. Okay, I got the solution to
the entire thing.
Speaker 2 (23:39):
How's this sound?
Speaker 3 (23:39):
How about we just get rid of it? How about
we just get rid of it. You know, we were
constantly totally bringing up from time to time up the FED.
It's paying all this interest payments to all these banks
here in this country and around the world, to keep
them from lending. Okay, well, why don't we put a
stop to that? In that more important, why don't we
put a stop to all of that? Because the big
(24:01):
banks can just park money at the FED and get
a nice rate of return, nice rate of return with
no risk whatsoever. Sure, you know, I don't know, could
be me calling, hey, I want to force these banks
to go out and actually put that money to work
by lending to the American people and helping us start businesses.
Try to try to get a business loan from a
(24:21):
big bank. They don't bother with that stuff anymore. This
rather park the money to FED.
Speaker 2 (24:27):
Get rid of it. It's not necessary. But what about
interest rates? What's gonna happen with rates? Then what's gonna happen?
The free market will decide. The free market will decide.
One more thing, one more thing. Okay.
Speaker 3 (24:43):
If you think, if you think the President gets control
of the FED and they start lowering rates, if you
think that's going to make mortgage rates go down, you're mistaken.
Speaker 2 (24:58):
Okay, you're mistaken. But the President said it was Okay.
Speaker 3 (25:03):
The President said it was Listen, Donald Trump says lots
of things, lots of things. He's on TV every day,
he's tweeting every day, he's putting stuff out. Okay, he
just says stuff sometimes that's just patently false, just not true.
I don't know whether or not he believes his own bs.
Maybe he does. Okay, maybe he does. But let me
(25:27):
explain this to you again, all right. The FED lowered
interest rates. The FED lowered interest rates last fall by
one hundred basis points. Using Donald Trump's logic, what Donald
Trump had to say, Why in the world did mortgage
(25:47):
rates go up? Fed lowered interest rates by one hundred
basis points. Mortgage rates went up. Mortgage rates are not
determined by the FED or the FED funds rate. It's
more about what our tenure treasury is trading at or
what the thirty year treasury is training at.
Speaker 2 (26:08):
That's what matters. That's what matters.
Speaker 3 (26:12):
And we are in a position right now as a
nation where we're thirty seven trillion dollars in debt and
it's to infinity and beyond, to infinity and beyond.
Speaker 2 (26:24):
And this is quite honestly, people, that's what matters. You
want you want rates to drop, Imagine, Imagine the United
States balances our budget. Imagine think about that we go back,
if we actually fall through, if we just went back
to pre COVID spending. Pre COVID spending, you'd see mortgage
(26:47):
rates come way to hell down.
Speaker 3 (26:48):
People be like, Holy cow, the United States is being
fiscally sane at this point in time. Yeah, mortgage rates
would drop, all interest rates would drop. It's about risk, people,
and quite frankly, we are a much bigger risk. We
did this to ourselves. Watchdog on Wallstreet dot Com Watchdog
(27:14):
on Wallstreet dot Com again. Become part of the Watchdog
on Wall Street family. Sign up our personal CFO program,
my podcast, newsletter, all sorts of great stuff Watchdog on
Wallstreet dot Com, or give us a call eight hundred
four seven one fifty nine.
Speaker 2 (27:28):
Eighty four.
Speaker 1 (27:45):
Bringing America financial freedom one listener at a time. You're
listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 3 (27:55):
Our belief system, our principle do not change.
Speaker 2 (28:03):
They don't waiver. That's that's conservatism.
Speaker 3 (28:10):
Quite frankly, that's just all about I talk about it
all the time here on the program. They the knowledge
of the world that that has been here. I talk
about our investment philosophy, and I'm like, I didn't come
up with this.
Speaker 2 (28:24):
This stuff is timeless. This stuff is timeless.
Speaker 3 (28:30):
I'm going through and I do my Bible, study my Bible,
and these are things that I teach about investment that
are been there for.
Speaker 2 (28:37):
Thousands and thousands and thousands of years. And I believe
there's certain truth.
Speaker 3 (28:45):
Out there that you have to follow. And you don't
change your belief system because you voted for somebody or
your party.
Speaker 2 (28:56):
Said. So, I'm gonna give.
Speaker 3 (28:58):
You an example of this one last thing here when
it comes to the FED. Okay, Donald Trump wants to
put Steve Mirran points Steve Miran on as the FED.
All right, and again a guide to me is a lightweight. Again,
I'd look at his resume.
Speaker 2 (29:16):
Don't believe me. Take a look at his resume.
Speaker 3 (29:17):
Oh yeah, I know he spent maybe a few months
working as an investment fund strategist.
Speaker 2 (29:22):
Whatever.
Speaker 3 (29:24):
Okay, last September, September, not that long ago. Okay, a
year ago, last September. Steven Mirran, the guy that Trump
wants to put on the FED, said, and I quote, Okay,
it was a mistake for the FED to cut rates
(29:44):
with underlying inflation between two and a half and three percent.
Now he is the candidate for a spot on the Fed.
We've got rates that are now one hundred basis points
lower than they were last September, and inflation is the same.
(30:07):
Yet now all of a sudden, Steve Miron's like, hey, hey,
we need to keep lower rates, and he says that
these policies are going to lower inflation. And I'm scratching
my head, Well, what's changed in the past year, Steve.
Speaker 2 (30:21):
Don't believe me? Look it up.
Speaker 3 (30:24):
How come nobody can put a microphone fromt of this
guy and ask him what has changed year over year?
Any other one? David Malpass, former President of the World Bank,
here again they might have thinking about putting him on
the Fed. He said that the Fed should cut interest
rates and unquote anchor itself in forward looking market based
(30:44):
data with a goal of defending the dollar.
Speaker 2 (30:49):
David, Okay, I don't know where you've been.
Speaker 3 (30:53):
I don't know if you've been sleeping for a while there,
I don't know. But the dollar has dropped over ten percent.
The dollar has fallen steadily this year. What do you
think is going to happen? If you lower rates? The
dollar is going to fall even further. Again, it's you know,
(31:17):
when people tell me two plus two equals twenty.
Speaker 2 (31:21):
I'm sorry, I just I can't buy it.
Speaker 3 (31:23):
I don't care if you're you're a Trump appointee, or
you're a member of the Republican Party.
Speaker 2 (31:28):
I'm I'm not buying that, guys. It's just stupidity. Anyway,
Gotta take the bring Watchdog on Wallstreet dot com.
Speaker 3 (31:37):
Watchdog on Wallstreet dot Com, our site, personal CFO program, podcast, newsletter,
twenty four hour day help Potline eight hundred four seven
one fifty nine eighty four.
Speaker 2 (31:46):
We'll be back.
Speaker 1 (32:02):
Teaking Wall streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Street.
Speaker 3 (32:14):
I mentioned this on the podcast. I think I mentioned
it last week here on the show. You gotta forgive
me sometimes people again, the amount of programs, shows, guest
appearances that I do over the course of the week. Now,
sometimes I'm gonna repeat myself on certain topics, but that's okay,
nothing wrong with that. We've talked about the housing market
(32:36):
here in the United States and what a disaster it is,
absolute disaster.
Speaker 2 (32:42):
Anyway.
Speaker 3 (32:44):
Anyway, Hey, John out of Music keeps playing for here
we go, Holy Schneikey's there. I was like, it's gonna
keep getting the bumper music forever in ten days anyway, Yeah,
it's the right now. Housing in the United States is
at its most unaffordable level ever, meaning what the cost
(33:11):
of a median priced home here in the United States
and what a median income you need to actually afford
that home. It's never been this bad and this would
be a massive winner for Trump if he could fix this,
(33:31):
clean this up.
Speaker 2 (33:32):
I don't know. I don't know.
Speaker 3 (33:35):
If the private equity money is but again we talked
about earlier on in the program, you know, basically cut
and checks to certain Republicans to allow them to get
get out of jail free cards, you know, to put
people into these things. I don't know what's going on,
but this needs to be fixed. Let me let me
explain to you how a typical scam would work. Did
a lot of homework on this, and you tell me
(33:57):
if this is okay, Okay, Blackstone, Go Blackstone. Little Blackstone
sees a new housing development being put together, and let's
say we'll play. Let's say there's five hundred units, five
hundred units in this housing development. They go to the
builder and I say, well, well, hey, listen, we'll buy
them all. And again, we will buy them all. We
(34:23):
want a discount, though, we want a discount. We'll buy
these homes. We'll buy the five hundred homes for you.
It's going to be paid for all take care of.
Rather than spend uh three seventy five, we'll spend three
hundred thousand on each home on average. And you say
that there's maybe three different types of models in this development,
in this community.
Speaker 2 (34:44):
So what they do? What they do?
Speaker 3 (34:47):
A year after they bought them? Kind of let it
sit around. It looks like they're just construction taking place there.
All of a sudden, they sell. They sell three of
those homes in that development to another fund that they
own for seven hundred thousand dollars. Why would they don't
make any sense. Why would they sell the You know,
(35:08):
they just spent three hundred Why are they gonna sell
it to themselves and pay more? That doesn't make any sense?
Oh yeah it does. What does that do?
Speaker 2 (35:17):
Oh?
Speaker 3 (35:17):
You got three comps in that neighborhood at seven hundred
thousand dollars?
Speaker 2 (35:25):
Yeah, Oh guess what. This is what they're worth.
Speaker 3 (35:29):
This is what they're worth and then they get it all.
Look at these homes that we bought. Look at us,
we're great investment managers. These homes that we bought for
three hundred thousand dollars, all five hundred an hourth seven
hundred thousand dollars, and we can make money off this
of the people that have bought into our fund.
Speaker 2 (35:44):
And ask what nobody can afford these.
Speaker 3 (35:46):
Homes, So guess what, We'll rent them out. We'll rent
them out at ridiculous rental prices. Oh, you don't think
that that's what's happening across the country, because it is
the reasons why things are so expensive. If you think
that lower mortgage rates is going to change that, you're mistaken.
Speaker 2 (36:09):
You're mistaken.
Speaker 3 (36:10):
And again, more than enough inventory out there, folks. It's
the fact is that who's bought all this stuff up
and it's manipulated to the outside.
Speaker 2 (36:18):
It's amazing.
Speaker 3 (36:19):
It's like a monopolistic type system that they've put in place,
and it could be dealt with, and it should be
dealt with. I hope the President is listening anyway, Probably not.
It's probably mad at me, mad at me because I
criticized him. I can't criticize him at all anyway, Anyway,
I don't know. Again, I mentioned this on Plass. I
(36:40):
am a kind of a dork. Okay, I don't watch
a lot of TV. I do have television on in
my office, and believe it or not, you know what
channels on quite often c SPAN.
Speaker 2 (36:54):
Yeah, yeah, I watch it. So you don't have to. Okay,
come here, break, I watch it because you don't. You know,
you don't have to watch it because I'm watching. Uh,
you know what I'm seeing, folks. You know what I'm
seeing all around the country is I am seeing Republicans.
Republican members of Congress. Oh, they're home.
Speaker 3 (37:14):
They're home, and they're giving town hall speeches in their districts.
And these places are full. These places are full. These
are people that voted for these guys. These are people
that voted for Donald Trump. And they're angry. They're angry
that this one I saw this past week. It almost
(37:35):
blew my mind. This Josh Breckeen Brickan's from Missouri.
Speaker 2 (37:42):
He was asked at a town hall.
Speaker 3 (37:44):
Asked at a town hall, can you tell me what
specific bills we have passed or worked on that would
lower grocery prices, and he gaslighted this lady, ma'am.
Speaker 2 (37:58):
You know you're talking about things to the state level.
You're mixing federal and state NEWIODA constitutions, got the tenth Amendment.
Speaker 3 (38:07):
I'm like he he absolutely gaslighted this lead. You can
go to this guy's twitter feed when Biden was president,
he's putting tweet after tweet after tweet. Overall, prices are
now up eighteen percent since Biden took office. Prices are
up nineteen percent under Joe Biden. The average family of
four is now spending thirteen hundred dollars more per month
(38:29):
to buy the exact same goods and services.
Speaker 2 (38:31):
But no, no, no, no, no anymore.
Speaker 3 (38:33):
Now he's criticized in the the Biden administration cause of inflation.
Now again his guys in, his guys in and no, no, no, no no,
it's a state problem. And I saw another one as well,
this guy Sky Where was it? It was in Iowa
for crying out loud. He had farmers standing up there saying,
you know, we used to sell stuff to China.
Speaker 2 (38:56):
We can't sell to China anymore because of these tariffs,
and selling to.
Speaker 3 (39:01):
Madagascar isn't just gonna it's not gonna cut it, and
a guy couldn't even answer people. It's gonna be a
wipe out in the midterms unless you guys get your
act together. Watchdog on wallstreet dot com, Watchdog on wallstreet
dot com.
Speaker 2 (39:19):
We'll be back.
Speaker 1 (39:24):
You're listening to the Watchdog on Wall Street
Well, no one altered 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 true proof.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 2 (00:34):
Ladies and gentlemen. We're not here to indulge in fantasy,
but in political and economic reality.
Speaker 1 (00:39):
This is the Watchdog on Wall Streets.
Speaker 3 (00:45):
Is welcome back, everybody, one of the only the Watchdog
on Wall Street Show. Before we get into I got
to get into some of the big economic stories. In particular,
we got to talk about the Fed Reserve and leads
to pay, what's gonna happen there.
Speaker 2 (01:02):
We also obviously have to.
Speaker 3 (01:03):
Talk about the government and it's a grand desire to
take steaks in American companies going to do that as well.
Speaker 2 (01:11):
I have to touch on this again. Do you think
you know?
Speaker 3 (01:16):
I guess you think you get rid of cockroaches, but
you never really get rid of cockroaches. They always kind
of find their way back. This is a firm on
Long Island. Firm on Long Island again, this was ground zero,
ground zero back in the late eighties, early to mid
nineties with all the penny stock boiler room fraud. Still
(01:38):
have it out there, obviously, I thought they did away
with most of it. Did They're there, The cockroaches didn't
go away. They're also South Florida as well, in particular
and run the Boca Ratan Palm Beach area.
Speaker 2 (01:50):
Listen this.
Speaker 3 (01:50):
For the third time this month, a fin Rock panel
again regulators has awarded a client of A. D. Morgan
Financial Advisors compensation following allegations at the firms to advisor
owners fail to make suitable investment recommendations. Yeah, first and foremost,
(02:13):
this is right out of the movie boiler Room. Why
do you think they name their firm A. G. Morgan
So when they're calling people up, they can make it
sound like they're calling from JP Morgan. They're calling retirees,
They're calling people out there that normally could never have
an account with JP Morgan because they don't have ten
(02:34):
twenty million dollars call from Morgan.
Speaker 2 (02:36):
Do you understand who you're speaking with right now? This
is an opportunity.
Speaker 3 (02:40):
Look it up. Okay, I'm giving an opportunity. You can't
work with JP Morgan unless you've got that X amount
of dollars. This is the pitch that they're giving to
people on the phone. Again, I know exactly what they're
up to, putting people into God again, in this case,
a lot of private equity fund that completely blew up
(03:01):
in people's faces. Now this is the third time this month,
the same two guys, Yet this firm is still in business.
You think that there's actually some sort of regulator out
there that actually does a decent job. They don't. They
don't stop anything. Eventually, they may step in and say, Okay,
enough's enough, that's all.
Speaker 2 (03:22):
That's it.
Speaker 3 (03:23):
We're gonna put you guys out of business. They'll pay
a fine, they'll walk away.
Speaker 1 (03:29):
Again.
Speaker 2 (03:29):
People say it again.
Speaker 3 (03:31):
Everything in life that has meaning, value and worth involves work,
time and effort. And again, if you have any questions
at all in regards to any firm, whether it's legit
or not, any investment, call us, get to our website,
send me an email. Okay, you're gonna go to the
(03:52):
top of the list. We try to save people from
harming themselves.
Speaker 2 (03:57):
All the time. That's what we do. Now, you could
choose not to listen.
Speaker 3 (04:03):
You can choose not to listen, because plenty you have
chosen not to listen to what I've had to say
here on the program.
Speaker 2 (04:08):
Yeah, they all of a sudden knew more than me.
Oh yeah.
Speaker 3 (04:11):
Did anybody ever call me up and say, Chris, you
were wrong? No? No, And I've had this show for
twenty five years. So again, choice is yours. It's up
to you, all right, big question. And I know I'm
gonna get all sorts of a catch hell because of this,
because again, people still many people still have this. They
(04:33):
pledge allegiance to a president or a political candidate. I'm
gonna put it this way. If during the campaign Donald
Trump were just to come out and say that he
was going to actively look to take equity positions in
companies here in this country, what would you have said?
(04:59):
I mean, honestly, all right, better, let me put this way.
Let's say Joe Biden's pressure Barack Obomb whatever it may be.
And they came out and they said, you know, we're
gonna start giving money to companies, and we're going to
start taking We're gonna own stock in those companies. Oh
my god, oh, Sean Hannity would have had a collective
(05:22):
freak out on the Oh, this is socialists, you can't
do this. Well, it's being done. And I'm gonna give
you the argument the other the size of it.
Speaker 2 (05:31):
You know, we're giving them giving the money to Intel.
You know the American tax payers should get something backed
for that. Totally right.
Speaker 3 (05:38):
Well, I got an idea, why don't you get rid
of the Chips Act and not give Intel a dime?
How's that sound? Don't give Intel a dime? Let Intel fail,
because that's that's how it's supposed to work. You take
a good, hard look around you and what this country
has accomplished. A type of wealth that we've created here
(06:00):
in this country two centuries and a half, okay, hasn't
been with the government.
Speaker 2 (06:10):
Stepping in and bailing out companies. That's a new thing.
That's a new thing. And how has that worked out?
Speaker 3 (06:18):
How has that worked out when we decided that we
could get a little bit pregnant, going back to two
thousand and eight, two thousand and nine, Banks, AIG, automakers,
how has that worked out? Has the country's fiscal position
has it improved? No, No, it hasn't. Again, it's become
(06:44):
be honest, what we do now on the president now,
I'll all Barack obamac I'm on the president now, and
I like green stuff.
Speaker 2 (06:52):
We like green stuff, lots and lots of green stuff.
So we're gonna start handing out money to the Clindras
and the Fiskers and all all this stuff out there.
But oh you have a Trump's gonna do it now
with the chips, Actor's gonna take gonna take an equity position. Really,
let me ask you a question.
Speaker 3 (07:12):
Let me ask the question, now that we own a
stake in Intel, what if Intel continues to do poorly?
Have you ever known a failed government program to end?
Speaker 2 (07:26):
Ever? No, I don't. I can't think of one. Quite frankly.
We just keep giving.
Speaker 3 (07:32):
I mean those tried there, those tried, they drove Elon
Musk crazy, he left.
Speaker 2 (07:39):
Failed government programs, they just keep going on. Now, let
me ask you a question.
Speaker 3 (07:44):
As far as the free market is concerned, let somebody,
let's less, somebody comes up. This is what happens here
in this country, creative destruction. It's smart people here. It's
come up with a new way of manufacturing chips, a
better way, new business, build a better mousetrap people will
be the path to your door. Do you think that company,
(08:06):
in any way, shape, matter, or form, is going to
be able to get financing? No, no way, no how.
Reason being is you can't compete against Uncle Sam.
Speaker 2 (08:21):
Uncle Sam.
Speaker 3 (08:22):
Now Uncle Sam is the umpire, the referee rights the rules.
Now we have a steak in Intel. Well, guess what
we got to protect our stake in Intel, So we
got to make it more difficult on competitors. Do you
understand what we're doing to do understand the moral hazard
of what's.
Speaker 2 (08:41):
Going on.
Speaker 3 (08:43):
The only way, the only way I thought that this,
the only way they can make this work, okay, is
if Donald Trump, Donald Trump, he's got Oh, we got
all these shares in Intel. Now, why don't you send
divide the shares up between all Americans and send them
to people like a de bait check. I didn't even
look it up and see how many shares it would
(09:04):
actually be all.
Speaker 2 (09:05):
Together, and just send them. Ah, you know, we got
an equity stake, Send it to every single American citizen.
Speaker 3 (09:12):
You get your two three shares of Intel. Wow, that's
a little dividend right there. How about that? And it
takes away the moral has that's the only way you
could do this where it makes any sense. If not, guys,
this is it's straight up socialists, man. And now they're
they're they're talking about that. I watched Howard Lutnick talking
(09:35):
about the monumental discussions that are taking place, monumental discussions
that are taking place with UH because of the defense
contractors and the amount of revenue that they're generating from
we the taxpayers, and now we're going to take a
stake in that.
Speaker 2 (09:53):
I'm like, Holy Military Industrial Complex on steroids? Are you nuts?
It was funny.
Speaker 3 (10:04):
And you watch these Republicans come up come up with
these I'm watching Kevin McCarthy, Well, you know, we gotta
you know, we gotta make sure that Intel we're making
enough chips here because we're competing with China. Now we're
competing at trying and he keeps, oh, China's gonna invade
Taiwan by twenty twenty eight, so we gotta make sure
(10:24):
that we're all ready to go and have this here.
And I'm scratching my head at the same time, I'm
saying myself, wait a second, here, you're saying that we're
gonna go to war because of China's gonna invade Taiwan
by twenty twenty seven, twenty eight, Yet we're going to
still allow six hundred thousand of their students to come
study here in the United States.
Speaker 2 (10:43):
Uh, correct me if I'm wrong here. We didn't allow six.
Speaker 3 (10:46):
Hundred thousand students from the Soviet Union to come study
during the Cold War.
Speaker 2 (10:51):
So which is it here?
Speaker 3 (10:55):
You're not to mention, You're you're again, You're you're letting,
You're letting the chips companies again.
Speaker 2 (10:59):
You're you're saying we're gonna be going to war a
couple of years with these guys. We gotta be.
Speaker 3 (11:02):
Ready, but we're going to be selling them chips as well.
There's there's no logic or reason to what they're putting out.
This is not a good deal. This is not a
good deal. Companies need to fail. The government needs to
(11:24):
act as the referee, the umpire, and get out of
the way.
Speaker 2 (11:32):
It's real simple, Okay, real simple.
Speaker 3 (11:36):
If I ask yourself the question, oh we have you start,
you start doing the whole butts.
Speaker 2 (11:40):
But but Trump but trying to do the right thing for
the American people. ME ask you a question, what what
what you know?
Speaker 3 (11:48):
We turn around here turn around twenty twenty eight, and
we've got president aok.
Speaker 2 (11:55):
President ayok, what do you think she's gonna want to buy.
Speaker 1 (11:59):
Wa?
Speaker 2 (11:59):
What do you think I mean again? New Green deal? Right?
But what say AOK.
Speaker 3 (12:04):
Wins and there's a oh, they get, they get, they
get the House, they get the Senate, and then all
of a sudden we start going to full full boar ahead.
We start financing all sorts of green nonsense or transsurgery centers.
Speaker 2 (12:17):
Okay, you do understand we have that.
Speaker 3 (12:21):
We're nation of laws for a reason, we have checks
and balances for a reason.
Speaker 2 (12:33):
It has gotten out of control.
Speaker 3 (12:35):
We do not need an executive branch of government with
this type of power, and it needs to be stopping.
You know what's it's funny is, as you watch, and
I'll talk about this later, there really isn't any sort
of Republican party with giving any sort of opposition outside
of again Thomas Massey ran Paul uh the Freedom Caucus
(12:59):
there joke. Oh, they might make a comment or two
on Fox News, but they're not gonna do anything to
stop this. You don't find that the slightest bit problematic,
And don't say you voted for this because he didn't
talk about this, never mentioned this one time.
Speaker 2 (13:15):
Okay, you didn't vote for this. I know plenty of people.
Speaker 3 (13:20):
Plenty of people say, no, way, no, how would I
vote for anything like this.
Speaker 2 (13:24):
This is not the government's job anyway.
Speaker 3 (13:29):
You know what, We're gonna take a break right here,
and I'm gonna get back in. I know, I'm gonna
get the emails on all sorts of stuff. But again, people,
you know you're new to this program. You're a super
Trump supporter or whatever it may be. You know, do
me a favor. Okay, I'm gonna delete your email if
you start giving nasty comments.
Speaker 2 (13:45):
Okay, if you have a kosion argument, yeah, I'll reply.
Speaker 3 (13:49):
I'll get into a conversation, because that's what a debate
is supposed to be.
Speaker 2 (13:52):
Debates are supposed to be.
Speaker 3 (13:53):
About coming to a truth, not about giving the West
one liner. Okay, that's what That's what fool That's what
rap battles are for, not for building any sort of intelligence.
Watchdog on Wall Street dot com. Watchdog on Wall street
dot com again, our personal CFO program, our podcast, our newsletter,
take Advantage, Watchdog on Wallstreet dot Com.
Speaker 2 (14:16):
We'll be back. I think you want to know, doesn't
matter of control.
Speaker 1 (14:36):
The only man who is taking on the Wall Street establishment.
You're listening to The Watchdog and Wall Street with Chris Markowski.
Speaker 3 (14:44):
Yes, some early nineties rhythm in blues. Sounds like it's
like a Boomerams soundtrack.
Speaker 2 (14:49):
Or something like that. Anyway, welcome back. It is the
Watchdog on Wall Street show. Okay.
Speaker 3 (14:56):
Got into a few debates about this this last week,
and you know some of the comments I began for you,
come on, Chris, come on, She's totally guilty now, at
least the cook, at least the cook.
Speaker 2 (15:08):
See totally guilty. Man, I can't believe it. Totally guilty.
What Okay, maybe maybe, but that's not the point. Not
the point. I'm talking about Trump firing at least a cook.
Speaker 3 (15:27):
She's a Federal Reserve Board governor. Federal Reserve Board governor
fired her because I guess, and again I don't. I
don't have all the details what I've seen. She listed
two homes as her primary residence, and by doing that,
supposedly allegedly she got better loan terms. Okay, where did
(15:51):
this come from? Let's break this entire thing down, Okay,
Bill Pulty. Bill Pulty went through and he went through
all the members of the FED.
Speaker 2 (16:02):
You know what this remind me of.
Speaker 3 (16:03):
This is just kind of dirty type politics. Quite frankly
kind of I said, I can ever be a politician.
I can't be around people like this. Again, I'm gen x. Okay,
Breakfast Club was one of our big movies back in
the day. There was a scene him over the Breakfast
Club where the principal was named Richard Vernon. Richard Vernon
(16:24):
is looking in the employment files, the certain employment files
of the staff at the school, and he gets caught
by Carl, the janitor like snooping around looking for dirt
on some of the school teachers.
Speaker 2 (16:38):
There a little.
Speaker 3 (16:39):
Scene in the movie that pomped into my head, and
that's what I can think about right now, is that
where right now we've got the Donald Trump wants to
do without a doubt, he wants to take control.
Speaker 2 (16:49):
He feels like it's his right.
Speaker 3 (16:50):
And there's people that will argue and say, yes, the
executive branch of government should have control of the FED.
Speaker 2 (16:55):
I disagree with that.
Speaker 3 (16:58):
I disagree with that, but people will make that argument,
and he wants to put his people in So they
found this thing on Lisa Cook. Okay, Okay, fine, this
was not too long ago. Not too long ago was
We reported on it here on the program. This going
back to twenty twenty one, do you remember do you
(17:21):
remember when members of the FED got caught making large
financial transactions at certain points time because obviously our members,
the FED, they had inside information what was going to
go on. You had Dallas FED President Robert Kaplan, Boston
FED President Eric rosenngranted, and then I think eventually it
(17:42):
was Richard de Clarita as well, buying into stocks, rotating
money into things again daked.
Speaker 2 (17:49):
You knew what was going on. Massive scandal at the time.
Speaker 3 (17:53):
Now granted it was during COVID, Okay, we covered it here.
You know, financials, it was huge, okay. And they were
asked to resign. They did, They were asked her. Jay
Powell obviously picked up the phone and said, you know what,
you guys have to go.
Speaker 2 (18:08):
Again. The information was there. As of right now, As
of right now, there hasn't been any charges filed for
Lisa Cook in the arguments.
Speaker 3 (18:21):
Well, you know, she hasn't come out and said anything
about these allegations. Yeah, let me repeat this. I said
it on the podcast this past week.
Speaker 2 (18:29):
I am not a lawyer. I'm not a lawyer.
Speaker 3 (18:31):
And no, I didn't stay in a holiday in express
last night. But I'm throwing this out there. Why would
you come out and start defending yourself, okay, in a
supposed criminal matter if you haven't even been charged.
Speaker 2 (18:52):
You haven't even been charged. And again, last.
Speaker 3 (18:57):
Time I checked, people could be me, call me crazy,
and I'm going back. I'm going back to junior high
civics for crying out loud. But this still remain the
same that you are innocent until proven guilty here in
this country. All I'm saying is this doesn't look good.
(19:19):
This is not a good look.
Speaker 2 (19:21):
You don't do this. You don't wage this.
Speaker 3 (19:23):
On truth social on social media. You call up j
Powell and you say, hey, listen, man, what's up with this? Okay,
she has to answer this, not to mention the fact.
And again this is the point that I you know,
some of the people that were sending me message, I
am consistent here on the program, consistent. Okay, Again, what
(19:47):
she did was basically a speeding ticket. It is what
it is Brooke law. But it still a speeding ticket. Again,
you know what time is it right now? I can't
even think of the amount of laws we have in
this country. What laws I've broken at this point in
time during the course of the day.
Speaker 2 (20:00):
But anyway, do you.
Speaker 3 (20:01):
Remember one long ago Donald Trump was getting in all
sorts of trouble, why for the same thing. The same
thing was he was putting ridiculous valuations on his properties
to get better, you know, loan loan terms. He said
that his apartment in New York City was bigger than
(20:22):
it actually was.
Speaker 2 (20:24):
And what did I say? This is no big deal. Okay,
it's up to the banks to figure this stuff out.
He's a real estate guy. For crying out loud. Either way,
it's not a good look. Watchdog on Wallstreet dot com.
Watchdog on Wallstreet dot Com got a little bit more
on this when we get back. Don't go anywhere.
Speaker 1 (20:58):
You should believe in not magic. You're listening to the
Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:06):
All right, welcome back everybody.
Speaker 3 (21:07):
It is it's just this slow dance music at the proms.
Speaker 2 (21:12):
Back of there. Anyway, Welcome back.
Speaker 3 (21:13):
It is the watch Talk on Wall Street Show. Always
honored to have you tuned into the program. Now, as
far as the feder Reserve is concerned, Okay, I'm not
sticking up for J.
Speaker 2 (21:21):
Powell.
Speaker 3 (21:22):
I'm not sticking up for the Fed. Get anybody who's
been listening to this program. I have ripped into them,
and they're incompetence. I make fun of them all the time.
You got four, four or five hundred economists working for
the Federal Reserve, trying to find one that's actually ever
had a.
Speaker 2 (21:38):
Real job in their entire life.
Speaker 3 (21:40):
Someone who's actually worked in the private sector.
Speaker 2 (21:44):
You know, remember the old Dunkin Donuts commercial.
Speaker 3 (21:47):
Time to make the donuts, People that have actually gone
out and made the donuts, sign the front of a check.
How to come up with a marketing plan, how to
come up with a payroll. People that actually really understand
how the economy we no, no, no, I know.
Speaker 2 (22:01):
You go to all these people with their theories, you
get lots of degrees, lots of expensive degrees, lots of
expensive artwork on the walls.
Speaker 3 (22:08):
Those you know, those diplomas are very expensive. Yay, look
at me, We're gonna make decisions. And yet they're wrong
again and again and again. And the reality is, yes,
the Fed has become political.
Speaker 2 (22:19):
I get all that.
Speaker 3 (22:22):
I don't think the answer is making it allowing it
to even become more political. If Donald Trump is able
this goes through and again he's only able to fire
somebody for cause, but they don't stipulate what cause is. Again,
this is someone that is being fired for an allegation,
(22:44):
hasn't been charged with anything. If this goes through, well
then anything could be a cause. Right then not a
lawyer didn't stay at a holiday and express. But again,
couldn't anything be a cause?
Speaker 2 (22:59):
Meaning? What? Meaning?
Speaker 3 (23:01):
That the president basically controls the FED? And you know
this has happened in the past. People, It's happened in
places like Argentina, Turkey. How's that worked out for them?
Speaker 2 (23:16):
How's it worked out for them? Not good? Again?
Speaker 3 (23:19):
I know President's jaw bone Donald Trump jaw bones Jay
Powell for crying out loud.
Speaker 2 (23:25):
Richard Nixon owned owned the FED.
Speaker 3 (23:32):
And look at the inflation that was causing the issues
that we had there. Okay, I got the solution to
the entire thing.
Speaker 2 (23:39):
How's this sound?
Speaker 3 (23:39):
How about we just get rid of it? How about
we just get rid of it. You know, we were
constantly totally bringing up from time to time up the FED.
It's paying all this interest payments to all these banks
here in this country and around the world, to keep
them from lending. Okay, well, why don't we put a
stop to that? In that more important, why don't we
put a stop to all of that? Because the big
(24:01):
banks can just park money at the FED and get
a nice rate of return, nice rate of return with
no risk whatsoever. Sure, you know, I don't know, could
be me calling, hey, I want to force these banks
to go out and actually put that money to work
by lending to the American people and helping us start businesses.
Try to try to get a business loan from a
(24:21):
big bank. They don't bother with that stuff anymore. This
rather park the money to FED.
Speaker 2 (24:27):
Get rid of it. It's not necessary. But what about
interest rates? What's gonna happen with rates? Then what's gonna happen?
The free market will decide. The free market will decide.
One more thing, one more thing. Okay.
Speaker 3 (24:43):
If you think, if you think the President gets control
of the FED and they start lowering rates, if you
think that's going to make mortgage rates go down, you're mistaken.
Speaker 2 (24:58):
Okay, you're mistaken. But the President said it was Okay.
Speaker 3 (25:03):
The President said it was Listen, Donald Trump says lots
of things, lots of things. He's on TV every day,
he's tweeting every day, he's putting stuff out. Okay, he
just says stuff sometimes that's just patently false, just not true.
I don't know whether or not he believes his own bs.
Maybe he does. Okay, maybe he does. But let me
(25:27):
explain this to you again, all right. The FED lowered
interest rates. The FED lowered interest rates last fall by
one hundred basis points. Using Donald Trump's logic, what Donald
Trump had to say, Why in the world did mortgage
(25:47):
rates go up? Fed lowered interest rates by one hundred
basis points. Mortgage rates went up. Mortgage rates are not
determined by the FED or the FED funds rate. It's
more about what our tenure treasury is trading at or
what the thirty year treasury is training at.
Speaker 2 (26:08):
That's what matters. That's what matters.
Speaker 3 (26:12):
And we are in a position right now as a
nation where we're thirty seven trillion dollars in debt and
it's to infinity and beyond, to infinity and beyond.
Speaker 2 (26:24):
And this is quite honestly, people, that's what matters. You
want you want rates to drop, Imagine, Imagine the United
States balances our budget. Imagine think about that we go back,
if we actually fall through, if we just went back
to pre COVID spending. Pre COVID spending, you'd see mortgage
(26:47):
rates come way to hell down.
Speaker 3 (26:48):
People be like, Holy cow, the United States is being
fiscally sane at this point in time. Yeah, mortgage rates
would drop, all interest rates would drop. It's about risk, people,
and quite frankly, we are a much bigger risk. We
did this to ourselves. Watchdog on Wallstreet dot Com Watchdog
(27:14):
on Wallstreet dot Com again. Become part of the Watchdog
on Wall Street family. Sign up our personal CFO program,
my podcast, newsletter, all sorts of great stuff Watchdog on
Wallstreet dot Com, or give us a call eight hundred
four seven one fifty nine.
Speaker 2 (27:28):
Eighty four.
Speaker 1 (27:45):
Bringing America financial freedom one listener at a time. You're
listening to the Watchdog on Wall Street with Chris Markowski.
Speaker 3 (27:55):
Our belief system, our principle do not change.
Speaker 2 (28:03):
They don't waiver. That's that's conservatism.
Speaker 3 (28:10):
Quite frankly, that's just all about I talk about it
all the time here on the program. They the knowledge
of the world that that has been here. I talk
about our investment philosophy, and I'm like, I didn't come
up with this.
Speaker 2 (28:24):
This stuff is timeless. This stuff is timeless.
Speaker 3 (28:30):
I'm going through and I do my Bible, study my Bible,
and these are things that I teach about investment that
are been there for.
Speaker 2 (28:37):
Thousands and thousands and thousands of years. And I believe
there's certain truth.
Speaker 3 (28:45):
Out there that you have to follow. And you don't
change your belief system because you voted for somebody or
your party.
Speaker 2 (28:56):
Said. So, I'm gonna give.
Speaker 3 (28:58):
You an example of this one last thing here when
it comes to the FED. Okay, Donald Trump wants to
put Steve Mirran points Steve Miran on as the FED.
All right, and again a guide to me is a lightweight. Again,
I'd look at his resume.
Speaker 2 (29:16):
Don't believe me. Take a look at his resume.
Speaker 3 (29:17):
Oh yeah, I know he spent maybe a few months
working as an investment fund strategist.
Speaker 2 (29:22):
Whatever.
Speaker 3 (29:24):
Okay, last September, September, not that long ago. Okay, a
year ago, last September. Steven Mirran, the guy that Trump
wants to put on the FED, said, and I quote, Okay,
it was a mistake for the FED to cut rates
(29:44):
with underlying inflation between two and a half and three percent.
Now he is the candidate for a spot on the Fed.
We've got rates that are now one hundred basis points
lower than they were last September, and inflation is the same.
(30:07):
Yet now all of a sudden, Steve Miron's like, hey, hey,
we need to keep lower rates, and he says that
these policies are going to lower inflation. And I'm scratching
my head, Well, what's changed in the past year, Steve.
Speaker 2 (30:21):
Don't believe me? Look it up.
Speaker 3 (30:24):
How come nobody can put a microphone fromt of this
guy and ask him what has changed year over year?
Any other one? David Malpass, former President of the World Bank,
here again they might have thinking about putting him on
the Fed. He said that the Fed should cut interest
rates and unquote anchor itself in forward looking market based
(30:44):
data with a goal of defending the dollar.
Speaker 2 (30:49):
David, Okay, I don't know where you've been.
Speaker 3 (30:53):
I don't know if you've been sleeping for a while there,
I don't know. But the dollar has dropped over ten percent.
The dollar has fallen steadily this year. What do you
think is going to happen? If you lower rates? The
dollar is going to fall even further. Again, it's you know,
(31:17):
when people tell me two plus two equals twenty.
Speaker 2 (31:21):
I'm sorry, I just I can't buy it.
Speaker 3 (31:23):
I don't care if you're you're a Trump appointee, or
you're a member of the Republican Party.
Speaker 2 (31:28):
I'm I'm not buying that, guys. It's just stupidity. Anyway,
Gotta take the bring Watchdog on Wallstreet dot com.
Speaker 3 (31:37):
Watchdog on Wallstreet dot Com, our site, personal CFO program, podcast, newsletter,
twenty four hour day help Potline eight hundred four seven
one fifty nine eighty four.
Speaker 2 (31:46):
We'll be back.
Speaker 1 (32:02):
Teaking Wall streets liars, crooks and cheets out behind the woodshed.
You're listening to the Watchdog on Wall Street.
Speaker 3 (32:14):
I mentioned this on the podcast. I think I mentioned
it last week here on the show. You gotta forgive
me sometimes people again, the amount of programs, shows, guest
appearances that I do over the course of the week. Now,
sometimes I'm gonna repeat myself on certain topics, but that's okay,
nothing wrong with that. We've talked about the housing market
(32:36):
here in the United States and what a disaster it is,
absolute disaster.
Speaker 2 (32:42):
Anyway.
Speaker 3 (32:44):
Anyway, Hey, John out of Music keeps playing for here
we go, Holy Schneikey's there. I was like, it's gonna
keep getting the bumper music forever in ten days anyway, Yeah,
it's the right now. Housing in the United States is
at its most unaffordable level ever, meaning what the cost
(33:11):
of a median priced home here in the United States
and what a median income you need to actually afford
that home. It's never been this bad and this would
be a massive winner for Trump if he could fix this,
(33:31):
clean this up.
Speaker 2 (33:32):
I don't know. I don't know.
Speaker 3 (33:35):
If the private equity money is but again we talked
about earlier on in the program, you know, basically cut
and checks to certain Republicans to allow them to get
get out of jail free cards, you know, to put
people into these things. I don't know what's going on,
but this needs to be fixed. Let me let me
explain to you how a typical scam would work. Did
a lot of homework on this, and you tell me
(33:57):
if this is okay, Okay, Blackstone, Go Blackstone. Little Blackstone
sees a new housing development being put together, and let's
say we'll play. Let's say there's five hundred units, five
hundred units in this housing development. They go to the
builder and I say, well, well, hey, listen, we'll buy
them all. And again, we will buy them all. We
(34:23):
want a discount, though, we want a discount. We'll buy
these homes. We'll buy the five hundred homes for you.
It's going to be paid for all take care of.
Rather than spend uh three seventy five, we'll spend three
hundred thousand on each home on average. And you say
that there's maybe three different types of models in this development,
in this community.
Speaker 2 (34:44):
So what they do? What they do?
Speaker 3 (34:47):
A year after they bought them? Kind of let it
sit around. It looks like they're just construction taking place there.
All of a sudden, they sell. They sell three of
those homes in that development to another fund that they
own for seven hundred thousand dollars. Why would they don't
make any sense. Why would they sell the You know,
(35:08):
they just spent three hundred Why are they gonna sell
it to themselves and pay more? That doesn't make any sense?
Oh yeah it does. What does that do?
Speaker 2 (35:17):
Oh?
Speaker 3 (35:17):
You got three comps in that neighborhood at seven hundred
thousand dollars?
Speaker 2 (35:25):
Yeah, Oh guess what. This is what they're worth.
Speaker 3 (35:29):
This is what they're worth and then they get it all.
Look at these homes that we bought. Look at us,
we're great investment managers. These homes that we bought for
three hundred thousand dollars, all five hundred an hourth seven
hundred thousand dollars, and we can make money off this
of the people that have bought into our fund.
Speaker 2 (35:44):
And ask what nobody can afford these.
Speaker 3 (35:46):
Homes, So guess what, We'll rent them out. We'll rent
them out at ridiculous rental prices. Oh, you don't think
that that's what's happening across the country, because it is
the reasons why things are so expensive. If you think
that lower mortgage rates is going to change that, you're mistaken.
Speaker 2 (36:09):
You're mistaken.
Speaker 3 (36:10):
And again, more than enough inventory out there, folks. It's
the fact is that who's bought all this stuff up
and it's manipulated to the outside.
Speaker 2 (36:18):
It's amazing.
Speaker 3 (36:19):
It's like a monopolistic type system that they've put in place,
and it could be dealt with, and it should be
dealt with. I hope the President is listening anyway, Probably not.
It's probably mad at me, mad at me because I
criticized him. I can't criticize him at all anyway, Anyway,
I don't know. Again, I mentioned this on Plass. I
(36:40):
am a kind of a dork. Okay, I don't watch
a lot of TV. I do have television on in
my office, and believe it or not, you know what
channels on quite often c SPAN.
Speaker 2 (36:54):
Yeah, yeah, I watch it. So you don't have to. Okay,
come here, break, I watch it because you don't. You know,
you don't have to watch it because I'm watching. Uh,
you know what I'm seeing, folks. You know what I'm
seeing all around the country is I am seeing Republicans.
Republican members of Congress. Oh, they're home.
Speaker 3 (37:14):
They're home, and they're giving town hall speeches in their districts.
And these places are full. These places are full. These
are people that voted for these guys. These are people
that voted for Donald Trump. And they're angry. They're angry
that this one I saw this past week. It almost
(37:35):
blew my mind. This Josh Breckeen Brickan's from Missouri.
Speaker 2 (37:42):
He was asked at a town hall.
Speaker 3 (37:44):
Asked at a town hall, can you tell me what
specific bills we have passed or worked on that would
lower grocery prices, and he gaslighted this lady, ma'am.
Speaker 2 (37:58):
You know you're talking about things to the state level.
You're mixing federal and state NEWIODA constitutions, got the tenth Amendment.
Speaker 3 (38:07):
I'm like he he absolutely gaslighted this lead. You can
go to this guy's twitter feed when Biden was president,
he's putting tweet after tweet after tweet. Overall, prices are
now up eighteen percent since Biden took office. Prices are
up nineteen percent under Joe Biden. The average family of
four is now spending thirteen hundred dollars more per month
(38:29):
to buy the exact same goods and services.
Speaker 2 (38:31):
But no, no, no, no, no anymore.
Speaker 3 (38:33):
Now he's criticized in the the Biden administration cause of inflation.
Now again his guys in, his guys in and no, no, no, no no,
it's a state problem. And I saw another one as well,
this guy Sky Where was it? It was in Iowa
for crying out loud. He had farmers standing up there saying,
you know, we used to sell stuff to China.
Speaker 2 (38:56):
We can't sell to China anymore because of these tariffs,
and selling to.
Speaker 3 (39:01):
Madagascar isn't just gonna it's not gonna cut it, and
a guy couldn't even answer people. It's gonna be a
wipe out in the midterms unless you guys get your
act together. Watchdog on wallstreet dot com, Watchdog on wallstreet
dot com.
Speaker 2 (39:19):
We'll be back.
Speaker 1 (39:24):
You're listening to 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.
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!
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.