October 11, 2025 • 39 mins
Chris Markowski discusses the impending collapse of Germany's pension and social security system, drawing parallels to past financial crises in Europe. He emphasizes the unsustainable nature of the current social security system in the U.S. and warns of potential market volatility due to underlying issues in private equity and lending practices. The conversation shifts to the political landscape, where Markowski critiques both major parties for their handling of capitalism and government intervention in the economy. He highlights the failures of Obamacare and the ongoing government shutdown, arguing for a return to free-market principles.
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Episode Transcript
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Speaker 1 (00:06):
Well, No one alter investment banking, consumer advocate, analyst trainer
Chris Markowski is the watch dog on Wall Street. Do
you want to answer exposing the lies and myths that
the big brokerage firms, the mainstream press, and the government
are pushing to keep Americans away from financial freedom. You
(00:27):
can't handle the truth bringing America the truth about what
really happens in the financial world. 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 on Wall Streets.
Speaker 3 (00:43):
All right, welcome back, everybody. Welter back.
Speaker 2 (00:46):
I renumber two one, the only the watchdog on Wall
Street show. I saw the story this past week, did
a podcast on it. I want to share it with
you as well. Germany's pension and social security system are
on the verge of collapse. They have proposed raising the
(01:10):
retirement age to seventy three to prevent the collapse.
Speaker 3 (01:15):
Of the system.
Speaker 2 (01:17):
The chancellor, Chancellor Merz said that Germany cannot afford the
current social security system and the people will need to
pay more from their income. This happened, This happened in
other European countries. Back in twenty ten, particular Greece, with
(01:37):
the financial crisis that they had there, they had massive
cuts to the retirement and pension system. People who've been
paying attention to what we've been preaching here on the
program for over three decades, we told you it was
coming as well. My generation Generation X, I said, listen, listen, Okay,
(02:00):
talking about my generation, I said, listen, don't plan on
getting social Security. I said, if you get it and
I'm wrong, congratulations. But the numbers don't work. The numbers
don't work. I was talking about this in the nineteen nineties.
By twenty thirty two, twenty thirty three, there's going to
(02:24):
be about twenty five percent cut to our social Security system. Okay,
that are going to have to raise the retirement age.
The entire system in of itself has always been a
Ponzi scheme.
Speaker 3 (02:39):
It always has been. FDR understood this.
Speaker 2 (02:43):
FDR who put the program together, thought that the program
needed to switch come the nineteen sixties into something completely
different because he knew that the demographics wouldn't work. So
something similar is coming here as well, and either you're
going to accept it or you're not.
Speaker 3 (03:04):
We screwed up. We screwed up.
Speaker 2 (03:06):
George W. Bush tried try. He wanted to reform social security.
This is going back to two thousand and five. But
the rest of the Republican Party said, nah, you know,
that's just too much to tackle with Iraq going on.
And they might not have been wrong. I mean, Mitch
McConnell told George W. Bush, you're spending all your political
(03:27):
capital in Iraq. Think about that, people. We could have
fixed social security, but instead, what do we do? We
wasted trillions of dollars in Iraq. Great choice, guys, great choice,
super again. But what do you expect would expect out
of people in Washington, DC?
Speaker 3 (03:45):
It's coming, people, It's coming. It's a reality. Okay, Either
do you.
Speaker 2 (03:51):
Want the terrain, accept with what's going on or bury
your head in the sand?
Speaker 3 (03:55):
Your choice.
Speaker 2 (03:57):
Anyway, this I have to talk about I have been
talking about and I am me I'm not the wrong
way of phrasing it. I'm not afraid. I'm not afraid.
I'm afraid for people that are going to do stupid
things with their money. When when we get some some
(04:19):
earthquakes coming, when it comes to the financial markets, and
I see them coming, when I see the company, I
see some possible possible volatility, major volatility on the horizon.
And again people have been paying attention. We're pretty good
at calling this stuff. Why why I'm seeing cracks, people,
(04:42):
I'm seeing cracks. I'm doing my homework right now. We
talked about this a couple of weeks ago, a sub
major subprime lender Try Color. Don't know what they call
Try Color. It's a Mexican flag. This was a company.
This is a company that may aid loans to illegals.
And the funny thing is also about Tricolor too. And
(05:04):
I looked into a little bit further. They were taking advantage,
take advantage of illegals by selling them cars, overpriced used cars.
Speaker 3 (05:14):
And they were also doing the lending on them.
Speaker 2 (05:16):
Well, they blew up, and now there's another major red
flag out there. You have another major auto parts company
that all of a sudden, you know, billions of dollars
have gone missing, and this and collect There's a lot
of crazy stuff that's happening underneath the surface at this
(05:37):
point in time that we pay attention to. Now, my
concerns is not my portfolios. But if this thing obviously
shakes up the markets, it'll scare people. And when people
get scared, they do dumb things with their money. They
end up becoming short sighted. We talked about that last hour. Okay,
(05:57):
bad behavior behavior, buy individual investors. What we've got right now,
I'm going to give you a figure that's going to
blow away because I've been railing against private equity and
the excesses.
Speaker 3 (06:12):
Okay, and put this perspective. There are right now nineteen thousand, nineteen.
Speaker 2 (06:19):
Thousand private equity funds in the United States. Nineteen thousand.
You know how many McDonald's there are in the United States.
Fourteen thousand, nineteen thousand private equity funds in the United States,
and there's only fourteen thousand McDonald's.
Speaker 3 (06:41):
Do you think there might be some issues in that arena.
Speaker 2 (06:46):
Yeah, yeah, Again, you're taking a look at the performance
which has been weak. The inter industry is in deep,
deep trouble, deep trouble. And if you own private equity,
I would strongly, strongly suggest you pick up the phone,
(07:09):
you give us a call, you go to our website. Okay,
you get in contact with us. Not all of them
are bad, but most of them are. Most of them
are private equity. Private equity went like gangbusters when they
were able to borrow money at ridiculously low rates. Ridiculously
(07:34):
low rates, they offered up a bit of a shortcut.
Private equity would go to people. Again, Ah, sixty forty
portfolio is not going to work. Again, we said, the
sixty forty portfolio is not going to work. However, we
weren't about to shoot the moon and take undue risk
with our clients' money unless we knew exactly where it
(07:55):
was going.
Speaker 3 (07:57):
Because rates were zero.
Speaker 2 (08:00):
Basically, they borrowed an infinite amount of money.
Speaker 3 (08:05):
So again you had.
Speaker 2 (08:06):
Some smart people at the very beginning. But then what
eventually happens on Wall Street. They're nothing but a bunch
of copycats. They start looking, ooh, we could do this too. Well,
you get all of it, and you get all of
these I'm sorry, okay, kids right out of ivy League
schools pouring into all these private equity funds out there.
(08:28):
They have no idea, they don't understand valuations, whatever it
may be. They got their fancy degree, they think that
they're smart. They think they're going to step in and
run veterinary clinics, clinics and HVAC companies and all this
good stuff, and they bought them at moronic valuations. Okay,
they were over paying for assets and then they start
(08:53):
mismanaging those assets.
Speaker 3 (08:59):
What is going to happen?
Speaker 2 (09:01):
And again, I know I brought this up on several
occasions here on the program. I know, okay again and
I'm going to continue again. We try, We're trying to
help people as best we possibly can. Okay, try to
get people to turn into the light to see what's
actually going on. They're trying very very hard to find
(09:26):
the next sucker, very hard. They are looking to offload
as fast as they possibly can to the masses.
Speaker 3 (09:41):
And again, the model has been set. We were the
only ones in the entire country that reported on this.
Speaker 2 (09:49):
Saw this happening back in the nineteen nineties when Morgan
Stanley said, you know what, we gotta find suckers. But
it was a white shoe firm, nothing with multi, multi
multimillion dollar clients. They needed to offload all of their
dot com crap that Mary Meeker and their investment bankers
(10:11):
got involved with.
Speaker 3 (10:12):
So they bought Dean Winner.
Speaker 2 (10:16):
Dean Winner the brokerage firm that had offices in signed Sears, Roebucks.
It was a brokerage firm for the masses. They bought
Dean winner, they called it. They've changed their stock ticker
symbol to make it look legit with what they were doing. Okay,
they wanted to make their crime, and my opinion crime.
Speaker 3 (10:37):
What they did was.
Speaker 2 (10:37):
Legal, but ethically disaster. They called it MSDW. You know what,
we don't have anymore. There's no more DW. You want
to mind those no more DW because MS crushed them
with garbage dot coms. What Wall Street is trying to
do right now is they want to put these alternative assets.
(10:58):
They want to put all this private equity. And you
got Jim Kramer and.
Speaker 3 (11:03):
Here A Schucks on CNBC.
Speaker 2 (11:06):
Cheerleading this nonsense. Oh this is great, this is fantastic.
Oh yeah, yeah, it's gonna be great when you're gonna
get young people that don't have a clue about altern investments,
private equity taking out super rich people at ridiculous valuations.
Sounds like a wonderful idea. Don't be a greater fool.
(11:27):
I'm trying not to lose my temper here. I try
not to yell. Okay, maybe maybe I'll maybe I will
come across better, Okay, if I if I can, if
I speak to everybody like their small child, Okay, you
are going to get screwed. Do not participate, Do not
(11:49):
play the game of demonic musical chairs. Do you understand?
Watchdog on Wallstreet dot com. Watchdog on wallstreet dot com
is our site. Become a part of our family at
the Watchdog on Wall Street, Jo Markowski investments, our firm,
take advantage our personal CFO program, our podcast, our newsletter,
(12:12):
all sorts of great stuff Watchdog on wallstreet dot com.
That's Watchdog on Wallstreet dot com. Or give us a
call eight hundred four seven one fifty.
Speaker 3 (12:22):
Nine eighty four.
Speaker 1 (12:40):
You should believe in math not magic. You're listening to
the Watchdog in Wall Street with Chris Markowski.
Speaker 3 (12:48):
Hey, what ame back? Welcome back?
Speaker 1 (12:52):
All right?
Speaker 2 (12:52):
We got to get into we got to get into
the country and the politics of the day where we're
at as a nation. And again I gotta preface everything
that I say here is that again I'm not a
member of any political party. It's almost like I want
to say this every week, kind of repeat myself. But
we're always adding new listeners and whatnot. And we and
(13:14):
we throw people off here on the program because our
media has become one side or the other. It has
it's been one side, or you're on this team or
you're on that team.
Speaker 3 (13:23):
We don't. We don't join teams.
Speaker 2 (13:25):
We don't join little Republican clubs or Democratic clubs or
MAGA clubs or progressively, we don't. We don't do that.
We deal with the facts on the ground. We deal
with the terrain. I'm a libertarian, libertarian conservative, believe in
the Constitution at heart. I love debate, I love having discussions. Again,
(13:51):
I mentioned here on the program before, I've voted for
Donald Trump twice, but he most certainly wasn't my first choice,
and we got we have to address something right now
that you know, quite frankly, quite frankly, I'm in. The
Republican Party is so lost at this point in time.
(14:11):
You know, you go back, you go back and you
can watch you watch, you know, some of the Clinton
campaign videos. He's honestly, back in the day, he was
more Republican than the Republicans are today. We have lost
our mind and some of the things that are taking
place at this point in time.
Speaker 3 (14:31):
I happen to I happen to love capitalism. I do.
Speaker 2 (14:36):
I'm a big believer in capitalism. One of the things
that I've said again again here in the program. One
of the thing that discuss me is when the government
gets involved with the private sector, public private partnerships.
Speaker 3 (14:48):
I can't stand it. I don't like.
Speaker 2 (14:51):
It when Obama's doing it. I don't like it when
Biden's doing it. I don't like it with Trump is
doing I don't like when Bush was doing it. Don't
do it. And it's bad everywhere. And you see it
happened in your local community too. When you get the
local politician showing up with the gold shovel digging a
hole in the ground, and oh, we're giving a we're
giving a special tax deal to this company because they're
going in here. Oh yeah, what about the mom and
(15:13):
pop store that's been there for two generations.
Speaker 3 (15:16):
They're not getting the tax deal. How's that right? How's
that fair?
Speaker 2 (15:19):
Last time I checked, Thomas Jeffersons said in the Declaration
of Independence that we're supposed to be equal under the law.
Speaker 3 (15:26):
But no, no, no, no.
Speaker 2 (15:27):
You see politicians they cut these deals with these various
different businesses. Oh, we're bringing business here to the area,
and you know what, they're cutting them a check.
Speaker 3 (15:37):
It should be against the law everywhere.
Speaker 2 (15:40):
No, no, no, local government no state government. The federal
government shouldn't be allowed to subsidize. Give a tax break
to everyone. Everyone should pay the same period the end.
But it doesn't work that way. Doesn't work that way.
The handouts I mentioned when Obama had just won the presidency.
(16:04):
I said, one of the greatest investments you could have made.
I remember, it's just two thousand and eight, two thousand
and nine, is just donate to the Obama campaign and
open up a green company because Obama.
Speaker 3 (16:13):
Is gonna give you cash. And that's what he did.
Give it away cash, giving away cash. They do it
all the time. Oh yeah, they contribute to their campaign.
Speaker 2 (16:22):
Oh you got new Solindra startup, Hedio, give him cash,
Joe Biden last time around. Oh we got the chipsack,
we got the Inflation Reduction Act.
Speaker 3 (16:31):
We're giving away cast to this green company. Cast of that.
Are you nuts?
Speaker 2 (16:38):
How does that work out? Never does? Never does well.
Trump is doing it. Trump is doing it, and he's
doing it actually in a more socialist way than the
Democrats are.
Speaker 3 (16:54):
What do you mean I got all that?
Speaker 2 (16:55):
You know, I'm gonna get all the emails. The MAGA
people are gonna freak out on me. Listen, to me,
do you understand what socialism is? Donald Trump? Okay, this
administration has taken a ten percent steak in Intel, a
fifteen percent steak in MP Materials, a ten percent steak
in Lithium America's, a ten percent equity steak in Trilogy Metals,
(17:20):
a golden share, and US Steel. And they're actually floating
the idea of the defense cocktract. Your contractors giving them
a steak as well. Well, that's great, don't ret least
we're getting something for the money that that we give away. Okay,
you cannot get a little bit pregnant, you can't. Now again,
(17:43):
how does one compete? We're supposed to live in a
country where you build a better mouse trap, people will
be the path to your door. Okay, how does anyone
compete with Intel?
Speaker 3 (17:55):
Now? That uh the big kahuna? Okay.
Speaker 2 (18:00):
The United States government that has nuclear weapons and the
power to regulate and the power to tax is literally
in bed partners with that company. That's American to you, No.
Speaker 3 (18:15):
That's China.
Speaker 2 (18:17):
That that that's what they do in China. We've got
we've got republican socialism people, that's what we've got right now.
We have a federal government that shut down shut down,
they can't pass a budget. And I'm not blaming Republicans,
(18:39):
so this is both sides. But then we had the
story this past week Trilogy Medals. Trilogy Medals is getting
thirty five point six million dollars from the Trump administration
and Donald Trump, my he's the greatest deal maker. Goal
is a wheeling a deal in here. The federal government
is going to get ten percent of the company and
(19:01):
an option to buy seven point five percent. Okay, the
Trump administraty, oh, well, you know it's minerals say it's
a national security concern. Okay, Okay, I get it. Cobalt copper.
Why does the government need to have a stake in
that company? Thirty five point six million dollar investment. I
(19:26):
didn't get an opportunity. I didn't get an opportunity to
go to my clients and ask them if they wanted
to invest in Trilogy Medals. I could have I raised
that money in an afternoon. It's not a big deal.
Thirty five point six million dollars not a lot of money.
But again, why why would you want the government being
(19:49):
a partner in something like this? The government doesn't run anything, Well,
we don't have a budget. We're thirty seven trillion dollars
in debt, Yet you think the government should be involved
in running a mining company. This is not how we
became America. This is not how we became wealthy. There's
(20:14):
other issues as well with this again, I'll get to them.
We got to take a quick break right here. Watchdog
on Wallstreet dot com. Watchdog on Wallstreet dot com is
our site, our personal CFO program, podcast, newsletter, you name it.
Speaker 3 (20:30):
Watchdog on Wallstreet dot com. We'll be back.
Speaker 1 (20:40):
Chris Markowski is the Watchdog on Wall Street bringing America
(21:02):
financial freedom. One listener at a time. You're listening to
the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:11):
We're back, everybody, all right, we're talking about socialism, Republicans
and the rich. This what's happening is not capitalism. Let
me make that perfectly clear. And I've watched this. I
(21:31):
watched this erosion of what made this country truly great.
It's like watching a slow motion train wreck over the
past twenty five years. Really, yeah, it's about twenty five years.
You take a look, take a look at the things
(21:52):
that our government engaged in during the Great Recession. We
had we had a Great Recession. Well again because of government.
You can go all the way back to Graham Leach
blindly repealing the Glass Steegel Act. You can talk about
the Community Reinvestment Act. You can talk about us under
(22:12):
Bill Clinton, back when Andrew Cuomo was in charge of
housing and urban development and we started developing all these
moronic mortgages with no money down and no interest in
all this other crap which led to that disaster. Again,
Banks Scott involved with it. Hey, we're making money. We're
going to sell these products, package, these products. Actually actually
(22:35):
met Ben Bernanke. I remember the Ben Bernanke being interviewed,
interview talking about, you know, the housing market and if
the housing market collapsed and how it wouldn't affect the economy.
Speaker 3 (22:45):
And I'm laughing.
Speaker 2 (22:46):
I'm laughing because people are selling out of their retirement
accounts to buy themselves two three four pre construction condos
because the prices kept going up. And I said, this
is not going to end. Well, what do we do?
We bailed out, bailed out the big banks. Oh oh
they got their money back. What a croc. Give me
a break. They're now more powerful than they ever were.
(23:08):
Too big to fail was born. We did it with
the automakers. Oh yeah, Bush started that, Obama put it
on steroids, and it just continues on.
Speaker 3 (23:18):
Now they pick and choose of course under Biden.
Speaker 2 (23:20):
Oh yeah, you got that bank that had a lot
of lefties there, Silicon Valley Bank. Can't let them go
under gotta you know, gotta bail them out. And Republican
and go on and on and on, one thing after another. Okay,
moral hazard is the thing you can't get a little
bit pregnant. Okay, now this as well. Now I'm just
(23:46):
throwing this out there. Okay, I'm gonna let you this
is gonna be one of the old uh I report
you decide situations. John Paulson, John Paulson, big time investor
Palm Beach, Florida, big contributor to Donald Trump.
Speaker 3 (24:04):
He used to be.
Speaker 2 (24:05):
He was actually on the shortlist to lead the Treasury Department.
John Paulson owns eight point side eight point seven percent
of Trilogy. All of a sudden, his shares that were
worth thirty million are now worth over one hundred million. Again, okay,
(24:27):
I'm just reporting, reporting on what happened. Not a good look?
Speaker 1 (24:31):
Is it?
Speaker 2 (24:34):
Not a good look? This company? Okay, Race allows the
thirty five million dollars. Like I said, I could pull
that money together from my clients in an after noon.
In an afternoon. Trilogies work, and yes, well, minerals are
(24:54):
important nasal security concern exactly. You're you're not wrong if
you say that the importance of Trilogy's work is actually
an argument against giving the government even a minor stake
in what it does.
Speaker 3 (25:13):
Eric Boehm wrote about this this past.
Speaker 2 (25:15):
Week in Reason it should be experts and resource extraction,
not you know, I always go back to that last
scene in Raiders of the Lost Dark, greatest action movie
of all time. We got top men working on it
right now? Who top men?
Speaker 3 (25:34):
Yeah? Government workers.
Speaker 2 (25:35):
No, we need experts in resource extraction, logistics, people who
run mining companies, not top men.
Speaker 3 (25:45):
Not bureaucrats from the government.
Speaker 2 (25:48):
Nor even worse officials doing favors for their friends. Now,
this is what Trump did, and this was good. Okay,
this is what Trump should be doing. This is what
the government should be doing. The Trump administration approved permits
(26:08):
for a two hundred and eleven mile road that will
provide access to the remote part of Alaska where Trilogy
is hoping to mine all that cobalt, copper, et cetera,
et cetera. That's that is the job of government. That's
what they are supposed to do.
Speaker 3 (26:30):
Okay.
Speaker 2 (26:31):
Government issue permits, issue permits, allow businesses clear the playing field. Okay,
so people can do business here in the United States.
Speaker 3 (26:42):
Good, that's good government.
Speaker 2 (26:44):
Okay, government involved, public private partnership.
Speaker 3 (26:48):
No, stay out of it.
Speaker 2 (26:54):
Anyway, gotta take a break. We're gonna get back. I'm
gonna get back into an issue. And it's unfortunate, you know, well,
it's not surprising. It's unfortunate, but not surprising. The media
is not covering properly in regards.
Speaker 3 (27:08):
To the shut down, the government shutdown.
Speaker 2 (27:11):
And the problems with Obamacare, because that's the issue right now.
Speaker 3 (27:16):
And again it's.
Speaker 2 (27:17):
One big fat see I told you so a moment.
We'll get into it. We get back watch Dog on
Wallstreet dot com. Watchdog on wallstreet dot com again, our
personal CFO program, our podcast, newsletter, all sorts of great stuff.
Speaker 3 (27:29):
Watchdog on wallstreet dot Com. We'll be back.
Speaker 1 (27:34):
Soon. Shot ticking Wall streets, liars, crooks and cheets out
behind the woodshed. You're listening to the Watchdog on Wall Street.
Speaker 2 (27:58):
Welcome back, Okay, government shutdown rolls on and again this
is great for all of those people that we like,
you know, they call them congressmen, congresswomen. They you know, well,
they're more influenced pedlars at this point in time, so
(28:20):
most of them do. They're more concerned about making YouTube
videos and posting them on their social media and getting
likes and again dividing people than actually doing their job.
What is this What is this shutdown all about? The
(28:40):
shutdown is about one of the worst government initiatives outside again,
outside of all the wars that we've been engaging in.
Speaker 3 (28:52):
In my lifetime, and that's Obamacare.
Speaker 2 (28:57):
Everything that we told you was going to happen with
Obamacare has happened. Again, we don't even really hear that
much about okbamacha, Oh, we hear about our healthcare subsidies.
And I got hikeem Jeffries out there. It's a republican,
(29:18):
Republican healthcare problem.
Speaker 3 (29:21):
Dude, shut up, Okay.
Speaker 2 (29:25):
Shut up, Either you are really really dumb or you're
a liar. But again, that that's most people who are
politicians again, did they just it's like second nature.
Speaker 3 (29:38):
To them just to lie.
Speaker 2 (29:42):
This is about, This is about Joe Biden Inflation Reduction
Act gave super enhanced Obamacare subsidies, super enhanced to the
point that a family making five hundred thousand dollars could
actually get Obamacare subsidies. They want to extend that, They
(30:11):
want to extend that, And the various different numbers put
it at anywhere between a half a trillion and a
trillion dollars over the next ten years.
Speaker 3 (30:20):
Hey, what's a half a trill? What's a trill? Amongst friends?
Speaker 2 (30:23):
No big deal, and you get the usual crap, usual crap.
Speaker 4 (30:30):
Coming on the Oh, people are gonna lose their health
insurance and their premiums, their premiums are gonna skyrocket, and
they're not gonna be able to afford health insurance, and
the sky is gonna fall in the world's gonna end.
Speaker 2 (30:44):
Well, yeah, people's premiums are gonna go up. Well, the skyfall,
the world end. Now, no, they won't. But I'm just
suggesting that maybe we deal with the reality, the reality
that Obamacare is the the greatest failure, great greatest fail
(31:07):
I mean, then you gotta go, yeah, you gotta go
back to LBJ and his Warren poverty programs to compare.
Speaker 3 (31:14):
It's that bad. Okay, it's so bad.
Speaker 2 (31:18):
I'll tell you how bad it is that the Washington Post. Yes,
the democracy dies in the darkness, left wing Washington Post
and I quote, the real problem is that Obamacare was
never actually affordable.
Speaker 3 (31:36):
You don't say more on this.
Speaker 2 (31:39):
Uh, when we get back Watchdog on Wallstreet dot com,
Watchdog on Wallstreet dot com, we'll be back.
Speaker 1 (32:02):
This is the Watchdog on Wall Street.
Speaker 3 (32:08):
All right, I mean I'm.
Speaker 2 (32:09):
Gonna throw this, tell this at you. Okay, let's say,
let's say you have a refrigerator in your house that's broken.
It's broken. It's been a disaster since day one. You've
had to throw more and more money at the refrigerator,
and then you need you need to repair it again.
Speaker 3 (32:32):
You need to repair it again.
Speaker 2 (32:33):
And the repairs are gonna cost seven hundred dollars, so
an additional seven hundred dollars. You've thrown ungodly sums of
money at it since then, But a new refrigerator is
gonna cost you five hundred dollars.
Speaker 3 (32:52):
What do you do?
Speaker 2 (32:54):
Do you repair the old, crappy refrigerator that hasn't worked
if you had to throw money at it for seven
hundred dollars or do you go out and you buy
a new refrigerator for five hundred dollars?
Speaker 3 (33:04):
What do you do? This is the issue.
Speaker 2 (33:09):
How is it that I can explain this to the
American people? Yet you can't have a single Republican go
out there and actually do their job or politics involved
with us and the American people are inserting they're gonna
walk there. There are subsidies and you know somebody percent
says this, Well, you're not doing your job. Your job
(33:31):
is to lead to explain to people what the the.
Speaker 3 (33:34):
Disaster that this is.
Speaker 2 (33:36):
I am I'm hoping, I'm praying that Donald Trump holds
the line. Or you're getting mixed signals here you are,
You're getting mixed signals. White House Census, political risk on
healthcare despite shutdown, bravado. Trump open to healthcare talks with
Democrats and shut down.
Speaker 3 (33:58):
Again.
Speaker 2 (33:59):
That's that's a bridge too far for me. He does that,
I'm done, Okay, I really I can't support this guy
and what he's doing anymore because you're just not doing
your job. You're not this is this is a major
issue for this country. It's been an absolute disaster. The
(34:20):
politics that are involved hed You go back and you
take a look at the finances for Obamacare and the jump,
the jump in premiums. You got a massive jump forty
seven percent between two thousand and thirteen and two and fourteen.
That's when it really first went into effect. And then
(34:41):
you take a look at these numbers and what the
people that are what are contributing, and what the taxpayer
has to contribute.
Speaker 3 (34:49):
Yet the premiums keep going up.
Speaker 2 (34:51):
And I want to remind everybody that Barack ba Obama
said that everybody's insurance was going down by twenty five
hundred dollars.
Speaker 3 (34:58):
Okay, twenty five hundred dollars what.
Speaker 2 (35:06):
I spent over thirty thousand dollars a year, I used
to spend seven. My health insurance is nowhere near as
good as it used to be prior to Obamacare. My
deductible has gone through the roof. I got to deal
with some call center out there. God forbid, if I
gotta get an MRI or something like that and try
(35:26):
to get that through.
Speaker 3 (35:27):
It's a disaster. Who has made money on this?
Speaker 2 (35:32):
Everybody asked the question, and again, this is one of
the reasons why. Okay, so one of the reasons why.
That's part of the problem that people have on the lead.
I lot them a legion to the Republican Party. You
don't think Republicans, why don't you go take a look
you can. You don't think Republicans are getting checks from
health insurance companies. Who do you think the winners were
(35:52):
in Obamacare?
Speaker 1 (35:54):
Oh?
Speaker 3 (35:54):
You think you think they were doctors? Wrong? Wrong doctors.
I mean, I'll tell you why. I got many, many.
Speaker 2 (36:06):
Physicians, surgeons, clients all over the country.
Speaker 3 (36:09):
Friends. I mentioned it on a program. My eldest son,
that's what we wanted to go into medical school. Every
single doctor that he knew.
Speaker 2 (36:19):
And these are some of his coaches that coach with
me as his youth told him not to do it.
Speaker 3 (36:24):
Don't do it, don't do it. Are you kidding me?
You kid me?
Speaker 2 (36:31):
This is a good healthcare system we got here in
this country. No, No, it's middlemen that are making money,
hospital groups, a myriad of different things, not doctors, and
your healthcare gets worse and we just smile and take it.
Speaker 3 (36:53):
Yeah, people ask him, what would you do? What want?
How would you handle this? Well?
Speaker 2 (36:58):
If I was president, as president, they had the situation,
I tell the I'm not kidding. This is what I
would do. You want to see me solve the problem.
I'll solve the problem. It's radical.
Speaker 3 (37:09):
It's radical.
Speaker 1 (37:09):
Yeah, you know.
Speaker 3 (37:10):
The sniper end up taking me out after saying this.
It is what it is.
Speaker 2 (37:14):
But I mean, uh, I tell the entire country to
stop buying health insurance. I said, cancel it, Sarah, all
you small bit everybody out there, okay, yep, your premiums
are gonna go through the roof of you know, we
know this because the subsidies are going away. What I'm
gonna suggest everybody do is to stop buying health insurance.
Just don't buy it. Don't buy it. What would happen,
(37:37):
won't she whiz? We got this thing. It's you know,
maybe the free market would have to take an effect.
Insurance companies be.
Speaker 3 (37:43):
Like, what I mean, We're gonna go out of business.
Wies gonna be terrible. It's gonna be anarchy out there.
Oh really really no, no no.
Speaker 2 (37:53):
You might have to start pricing your product based upon
what people could afford to pay. The government would have
to say, oh geez, we can't have all of these
ridiculous mandates in this nonsense.
Speaker 3 (38:04):
Oh gee whiz. Maybe we could.
Speaker 2 (38:05):
Start offering a product like you know, I don't know
catastrophic health insurance that young people can have and they
can afford. The free market solves the problem every damn time.
Speaker 3 (38:21):
You we're again I mentioned this, We're in a hole. Okay.
Speaker 2 (38:27):
You think throwing more money at Obamacare is gonna work
any time the government subsidizes anything. Subsidies are bloody demonic, Okay,
but they're treated as they they are, like the brought
down from the angels. It's handouts and giveaways. All it
does is make the price go up. It doesn't make
(38:49):
any difference. Whether it's college education doesn't make a difference,
whether it's housing, doesn't make a difference. When it's healthcare,
anything the government subsidizes, the price is going to go
up again if you're getting the subsidy, like, oh, I
love my pol He's giving me free stuff. Weak up America.
(39:13):
We need to blow up. Blow up Tyler Durton, fight
comp blow up Obamacare. It's a disaster. Watchdog on Wall
Street dot com.
Speaker 3 (39:29):
You feel like
Speaker 1 (39:31):
You're listening to the watch dog on Wall Street
Well, No one alter investment banking, consumer advocate, analyst trainer
Chris Markowski is the watch dog on Wall Street. Do
you want to answer exposing the lies and myths that
the big brokerage firms, the mainstream press, and the government
are pushing to keep Americans away from financial freedom. You
(00:27):
can't handle the truth bringing America the truth about what
really happens in the financial world. 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 on Wall Streets.
Speaker 3 (00:43):
All right, welcome back, everybody. Welter back.
Speaker 2 (00:46):
I renumber two one, the only the watchdog on Wall
Street show. I saw the story this past week, did
a podcast on it. I want to share it with
you as well. Germany's pension and social security system are
on the verge of collapse. They have proposed raising the
(01:10):
retirement age to seventy three to prevent the collapse.
Speaker 3 (01:15):
Of the system.
Speaker 2 (01:17):
The chancellor, Chancellor Merz said that Germany cannot afford the
current social security system and the people will need to
pay more from their income. This happened, This happened in
other European countries. Back in twenty ten, particular Greece, with
(01:37):
the financial crisis that they had there, they had massive
cuts to the retirement and pension system. People who've been
paying attention to what we've been preaching here on the
program for over three decades, we told you it was
coming as well. My generation Generation X, I said, listen, listen, Okay,
(02:00):
talking about my generation, I said, listen, don't plan on
getting social Security. I said, if you get it and
I'm wrong, congratulations. But the numbers don't work. The numbers
don't work. I was talking about this in the nineteen nineties.
By twenty thirty two, twenty thirty three, there's going to
(02:24):
be about twenty five percent cut to our social Security system. Okay,
that are going to have to raise the retirement age.
The entire system in of itself has always been a
Ponzi scheme.
Speaker 3 (02:39):
It always has been. FDR understood this.
Speaker 2 (02:43):
FDR who put the program together, thought that the program
needed to switch come the nineteen sixties into something completely
different because he knew that the demographics wouldn't work. So
something similar is coming here as well, and either you're
going to accept it or you're not.
Speaker 3 (03:04):
We screwed up. We screwed up.
Speaker 2 (03:06):
George W. Bush tried try. He wanted to reform social security.
This is going back to two thousand and five. But
the rest of the Republican Party said, nah, you know,
that's just too much to tackle with Iraq going on.
And they might not have been wrong. I mean, Mitch
McConnell told George W. Bush, you're spending all your political
(03:27):
capital in Iraq. Think about that, people. We could have
fixed social security, but instead, what do we do? We
wasted trillions of dollars in Iraq. Great choice, guys, great choice,
super again. But what do you expect would expect out
of people in Washington, DC?
Speaker 3 (03:45):
It's coming, people, It's coming. It's a reality. Okay, Either
do you.
Speaker 2 (03:51):
Want the terrain, accept with what's going on or bury
your head in the sand?
Speaker 3 (03:55):
Your choice.
Speaker 2 (03:57):
Anyway, this I have to talk about I have been
talking about and I am me I'm not the wrong
way of phrasing it. I'm not afraid. I'm not afraid.
I'm afraid for people that are going to do stupid
things with their money. When when we get some some
(04:19):
earthquakes coming, when it comes to the financial markets, and
I see them coming, when I see the company, I
see some possible possible volatility, major volatility on the horizon.
And again people have been paying attention. We're pretty good
at calling this stuff. Why why I'm seeing cracks, people,
(04:42):
I'm seeing cracks. I'm doing my homework right now. We
talked about this a couple of weeks ago, a sub
major subprime lender Try Color. Don't know what they call
Try Color. It's a Mexican flag. This was a company.
This is a company that may aid loans to illegals.
And the funny thing is also about Tricolor too. And
(05:04):
I looked into a little bit further. They were taking advantage,
take advantage of illegals by selling them cars, overpriced used cars.
Speaker 3 (05:14):
And they were also doing the lending on them.
Speaker 2 (05:16):
Well, they blew up, and now there's another major red
flag out there. You have another major auto parts company
that all of a sudden, you know, billions of dollars
have gone missing, and this and collect There's a lot
of crazy stuff that's happening underneath the surface at this
(05:37):
point in time that we pay attention to. Now, my
concerns is not my portfolios. But if this thing obviously
shakes up the markets, it'll scare people. And when people
get scared, they do dumb things with their money. They
end up becoming short sighted. We talked about that last hour. Okay,
(05:57):
bad behavior behavior, buy individual investors. What we've got right now,
I'm going to give you a figure that's going to
blow away because I've been railing against private equity and
the excesses.
Speaker 3 (06:12):
Okay, and put this perspective. There are right now nineteen thousand, nineteen.
Speaker 2 (06:19):
Thousand private equity funds in the United States. Nineteen thousand.
You know how many McDonald's there are in the United States.
Fourteen thousand, nineteen thousand private equity funds in the United States,
and there's only fourteen thousand McDonald's.
Speaker 3 (06:41):
Do you think there might be some issues in that arena.
Speaker 2 (06:46):
Yeah, yeah, Again, you're taking a look at the performance
which has been weak. The inter industry is in deep,
deep trouble, deep trouble. And if you own private equity,
I would strongly, strongly suggest you pick up the phone,
(07:09):
you give us a call, you go to our website. Okay,
you get in contact with us. Not all of them
are bad, but most of them are. Most of them
are private equity. Private equity went like gangbusters when they
were able to borrow money at ridiculously low rates. Ridiculously
(07:34):
low rates, they offered up a bit of a shortcut.
Private equity would go to people. Again, Ah, sixty forty
portfolio is not going to work. Again, we said, the
sixty forty portfolio is not going to work. However, we
weren't about to shoot the moon and take undue risk
with our clients' money unless we knew exactly where it
(07:55):
was going.
Speaker 3 (07:57):
Because rates were zero.
Speaker 2 (08:00):
Basically, they borrowed an infinite amount of money.
Speaker 3 (08:05):
So again you had.
Speaker 2 (08:06):
Some smart people at the very beginning. But then what
eventually happens on Wall Street. They're nothing but a bunch
of copycats. They start looking, ooh, we could do this too. Well,
you get all of it, and you get all of
these I'm sorry, okay, kids right out of ivy League
schools pouring into all these private equity funds out there.
(08:28):
They have no idea, they don't understand valuations, whatever it
may be. They got their fancy degree, they think that
they're smart. They think they're going to step in and
run veterinary clinics, clinics and HVAC companies and all this
good stuff, and they bought them at moronic valuations. Okay,
they were over paying for assets and then they start
(08:53):
mismanaging those assets.
Speaker 3 (08:59):
What is going to happen?
Speaker 2 (09:01):
And again, I know I brought this up on several
occasions here on the program. I know, okay again and
I'm going to continue again. We try, We're trying to
help people as best we possibly can. Okay, try to
get people to turn into the light to see what's
actually going on. They're trying very very hard to find
(09:26):
the next sucker, very hard. They are looking to offload
as fast as they possibly can to the masses.
Speaker 3 (09:41):
And again, the model has been set. We were the
only ones in the entire country that reported on this.
Speaker 2 (09:49):
Saw this happening back in the nineteen nineties when Morgan
Stanley said, you know what, we gotta find suckers. But
it was a white shoe firm, nothing with multi, multi
multimillion dollar clients. They needed to offload all of their
dot com crap that Mary Meeker and their investment bankers
(10:11):
got involved with.
Speaker 3 (10:12):
So they bought Dean Winner.
Speaker 2 (10:16):
Dean Winner the brokerage firm that had offices in signed Sears, Roebucks.
It was a brokerage firm for the masses. They bought
Dean winner, they called it. They've changed their stock ticker
symbol to make it look legit with what they were doing. Okay,
they wanted to make their crime, and my opinion crime.
Speaker 3 (10:37):
What they did was.
Speaker 2 (10:37):
Legal, but ethically disaster. They called it MSDW. You know what,
we don't have anymore. There's no more DW. You want
to mind those no more DW because MS crushed them
with garbage dot coms. What Wall Street is trying to
do right now is they want to put these alternative assets.
(10:58):
They want to put all this private equity. And you
got Jim Kramer and.
Speaker 3 (11:03):
Here A Schucks on CNBC.
Speaker 2 (11:06):
Cheerleading this nonsense. Oh this is great, this is fantastic.
Oh yeah, yeah, it's gonna be great when you're gonna
get young people that don't have a clue about altern investments,
private equity taking out super rich people at ridiculous valuations.
Sounds like a wonderful idea. Don't be a greater fool.
(11:27):
I'm trying not to lose my temper here. I try
not to yell. Okay, maybe maybe I'll maybe I will
come across better, Okay, if I if I can, if
I speak to everybody like their small child, Okay, you
are going to get screwed. Do not participate, Do not
(11:49):
play the game of demonic musical chairs. Do you understand?
Watchdog on Wallstreet dot com. Watchdog on wallstreet dot com
is our site. Become a part of our family at
the Watchdog on Wall Street, Jo Markowski investments, our firm,
take advantage our personal CFO program, our podcast, our newsletter,
(12:12):
all sorts of great stuff Watchdog on wallstreet dot com.
That's Watchdog on Wallstreet dot com. Or give us a
call eight hundred four seven one fifty.
Speaker 3 (12:22):
Nine eighty four.
Speaker 1 (12:40):
You should believe in math not magic. You're listening to
the Watchdog in Wall Street with Chris Markowski.
Speaker 3 (12:48):
Hey, what ame back? Welcome back?
Speaker 1 (12:52):
All right?
Speaker 2 (12:52):
We got to get into we got to get into
the country and the politics of the day where we're
at as a nation. And again I gotta preface everything
that I say here is that again I'm not a
member of any political party. It's almost like I want
to say this every week, kind of repeat myself. But
we're always adding new listeners and whatnot. And we and
(13:14):
we throw people off here on the program because our
media has become one side or the other. It has
it's been one side, or you're on this team or
you're on that team.
Speaker 3 (13:23):
We don't. We don't join teams.
Speaker 2 (13:25):
We don't join little Republican clubs or Democratic clubs or
MAGA clubs or progressively, we don't. We don't do that.
We deal with the facts on the ground. We deal
with the terrain. I'm a libertarian, libertarian conservative, believe in
the Constitution at heart. I love debate, I love having discussions. Again,
(13:51):
I mentioned here on the program before, I've voted for
Donald Trump twice, but he most certainly wasn't my first choice,
and we got we have to address something right now
that you know, quite frankly, quite frankly, I'm in. The
Republican Party is so lost at this point in time.
(14:11):
You know, you go back, you go back and you
can watch you watch, you know, some of the Clinton
campaign videos. He's honestly, back in the day, he was
more Republican than the Republicans are today. We have lost
our mind and some of the things that are taking
place at this point in time.
Speaker 3 (14:31):
I happen to I happen to love capitalism. I do.
Speaker 2 (14:36):
I'm a big believer in capitalism. One of the things
that I've said again again here in the program. One
of the thing that discuss me is when the government
gets involved with the private sector, public private partnerships.
Speaker 3 (14:48):
I can't stand it. I don't like.
Speaker 2 (14:51):
It when Obama's doing it. I don't like it when
Biden's doing it. I don't like it with Trump is
doing I don't like when Bush was doing it. Don't
do it. And it's bad everywhere. And you see it
happened in your local community too. When you get the
local politician showing up with the gold shovel digging a
hole in the ground, and oh, we're giving a we're
giving a special tax deal to this company because they're
going in here. Oh yeah, what about the mom and
(15:13):
pop store that's been there for two generations.
Speaker 3 (15:16):
They're not getting the tax deal. How's that right? How's
that fair?
Speaker 2 (15:19):
Last time I checked, Thomas Jeffersons said in the Declaration
of Independence that we're supposed to be equal under the law.
Speaker 3 (15:26):
But no, no, no, no.
Speaker 2 (15:27):
You see politicians they cut these deals with these various
different businesses. Oh, we're bringing business here to the area,
and you know what, they're cutting them a check.
Speaker 3 (15:37):
It should be against the law everywhere.
Speaker 2 (15:40):
No, no, no, local government no state government. The federal
government shouldn't be allowed to subsidize. Give a tax break
to everyone. Everyone should pay the same period the end.
But it doesn't work that way. Doesn't work that way.
The handouts I mentioned when Obama had just won the presidency.
(16:04):
I said, one of the greatest investments you could have made.
I remember, it's just two thousand and eight, two thousand
and nine, is just donate to the Obama campaign and
open up a green company because Obama.
Speaker 3 (16:13):
Is gonna give you cash. And that's what he did.
Give it away cash, giving away cash. They do it
all the time. Oh yeah, they contribute to their campaign.
Speaker 2 (16:22):
Oh you got new Solindra startup, Hedio, give him cash,
Joe Biden last time around. Oh we got the chipsack,
we got the Inflation Reduction Act.
Speaker 3 (16:31):
We're giving away cast to this green company. Cast of that.
Are you nuts?
Speaker 2 (16:38):
How does that work out? Never does? Never does well.
Trump is doing it. Trump is doing it, and he's
doing it actually in a more socialist way than the
Democrats are.
Speaker 3 (16:54):
What do you mean I got all that?
Speaker 2 (16:55):
You know, I'm gonna get all the emails. The MAGA
people are gonna freak out on me. Listen, to me,
do you understand what socialism is? Donald Trump? Okay, this
administration has taken a ten percent steak in Intel, a
fifteen percent steak in MP Materials, a ten percent steak
in Lithium America's, a ten percent equity steak in Trilogy Metals,
(17:20):
a golden share, and US Steel. And they're actually floating
the idea of the defense cocktract. Your contractors giving them
a steak as well. Well, that's great, don't ret least
we're getting something for the money that that we give away. Okay,
you cannot get a little bit pregnant, you can't. Now again,
(17:43):
how does one compete? We're supposed to live in a
country where you build a better mouse trap, people will
be the path to your door. Okay, how does anyone
compete with Intel?
Speaker 3 (17:55):
Now? That uh the big kahuna? Okay.
Speaker 2 (18:00):
The United States government that has nuclear weapons and the
power to regulate and the power to tax is literally
in bed partners with that company. That's American to you, No.
Speaker 3 (18:15):
That's China.
Speaker 2 (18:17):
That that that's what they do in China. We've got
we've got republican socialism people, that's what we've got right now.
We have a federal government that shut down shut down,
they can't pass a budget. And I'm not blaming Republicans,
(18:39):
so this is both sides. But then we had the
story this past week Trilogy Medals. Trilogy Medals is getting
thirty five point six million dollars from the Trump administration
and Donald Trump, my he's the greatest deal maker. Goal
is a wheeling a deal in here. The federal government
is going to get ten percent of the company and
(19:01):
an option to buy seven point five percent. Okay, the
Trump administraty, oh, well, you know it's minerals say it's
a national security concern. Okay, Okay, I get it. Cobalt copper.
Why does the government need to have a stake in
that company? Thirty five point six million dollar investment. I
(19:26):
didn't get an opportunity. I didn't get an opportunity to
go to my clients and ask them if they wanted
to invest in Trilogy Medals. I could have I raised
that money in an afternoon. It's not a big deal.
Thirty five point six million dollars not a lot of money.
But again, why why would you want the government being
(19:49):
a partner in something like this? The government doesn't run anything, Well,
we don't have a budget. We're thirty seven trillion dollars
in debt, Yet you think the government should be involved
in running a mining company. This is not how we
became America. This is not how we became wealthy. There's
(20:14):
other issues as well with this again, I'll get to them.
We got to take a quick break right here. Watchdog
on Wallstreet dot com. Watchdog on Wallstreet dot com is
our site, our personal CFO program, podcast, newsletter, you name it.
Speaker 3 (20:30):
Watchdog on Wallstreet dot com. We'll be back.
Speaker 1 (20:40):
Chris Markowski is the Watchdog on Wall Street bringing America
(21:02):
financial freedom. One listener at a time. You're listening to
the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:11):
We're back, everybody, all right, we're talking about socialism, Republicans
and the rich. This what's happening is not capitalism. Let
me make that perfectly clear. And I've watched this. I
(21:31):
watched this erosion of what made this country truly great.
It's like watching a slow motion train wreck over the
past twenty five years. Really, yeah, it's about twenty five years.
You take a look, take a look at the things
(21:52):
that our government engaged in during the Great Recession. We
had we had a Great Recession. Well again because of government.
You can go all the way back to Graham Leach
blindly repealing the Glass Steegel Act. You can talk about
the Community Reinvestment Act. You can talk about us under
(22:12):
Bill Clinton, back when Andrew Cuomo was in charge of
housing and urban development and we started developing all these
moronic mortgages with no money down and no interest in
all this other crap which led to that disaster. Again,
Banks Scott involved with it. Hey, we're making money. We're
going to sell these products, package, these products. Actually actually
(22:35):
met Ben Bernanke. I remember the Ben Bernanke being interviewed,
interview talking about, you know, the housing market and if
the housing market collapsed and how it wouldn't affect the economy.
Speaker 3 (22:45):
And I'm laughing.
Speaker 2 (22:46):
I'm laughing because people are selling out of their retirement
accounts to buy themselves two three four pre construction condos
because the prices kept going up. And I said, this
is not going to end. Well, what do we do?
We bailed out, bailed out the big banks. Oh oh
they got their money back. What a croc. Give me
a break. They're now more powerful than they ever were.
(23:08):
Too big to fail was born. We did it with
the automakers. Oh yeah, Bush started that, Obama put it
on steroids, and it just continues on.
Speaker 3 (23:18):
Now they pick and choose of course under Biden.
Speaker 2 (23:20):
Oh yeah, you got that bank that had a lot
of lefties there, Silicon Valley Bank. Can't let them go
under gotta you know, gotta bail them out. And Republican
and go on and on and on, one thing after another. Okay,
moral hazard is the thing you can't get a little
bit pregnant. Okay, now this as well. Now I'm just
(23:46):
throwing this out there. Okay, I'm gonna let you this
is gonna be one of the old uh I report
you decide situations. John Paulson, John Paulson, big time investor
Palm Beach, Florida, big contributor to Donald Trump.
Speaker 3 (24:04):
He used to be.
Speaker 2 (24:05):
He was actually on the shortlist to lead the Treasury Department.
John Paulson owns eight point side eight point seven percent
of Trilogy. All of a sudden, his shares that were
worth thirty million are now worth over one hundred million. Again, okay,
(24:27):
I'm just reporting, reporting on what happened. Not a good look?
Speaker 1 (24:31):
Is it?
Speaker 2 (24:34):
Not a good look? This company? Okay, Race allows the
thirty five million dollars. Like I said, I could pull
that money together from my clients in an after noon.
In an afternoon. Trilogies work, and yes, well, minerals are
(24:54):
important nasal security concern exactly. You're you're not wrong if
you say that the importance of Trilogy's work is actually
an argument against giving the government even a minor stake
in what it does.
Speaker 3 (25:13):
Eric Boehm wrote about this this past.
Speaker 2 (25:15):
Week in Reason it should be experts and resource extraction,
not you know, I always go back to that last
scene in Raiders of the Lost Dark, greatest action movie
of all time. We got top men working on it
right now? Who top men?
Speaker 3 (25:34):
Yeah? Government workers.
Speaker 2 (25:35):
No, we need experts in resource extraction, logistics, people who
run mining companies, not top men.
Speaker 3 (25:45):
Not bureaucrats from the government.
Speaker 2 (25:48):
Nor even worse officials doing favors for their friends. Now,
this is what Trump did, and this was good. Okay,
this is what Trump should be doing. This is what
the government should be doing. The Trump administration approved permits
(26:08):
for a two hundred and eleven mile road that will
provide access to the remote part of Alaska where Trilogy
is hoping to mine all that cobalt, copper, et cetera,
et cetera. That's that is the job of government. That's
what they are supposed to do.
Speaker 3 (26:30):
Okay.
Speaker 2 (26:31):
Government issue permits, issue permits, allow businesses clear the playing field. Okay,
so people can do business here in the United States.
Speaker 3 (26:42):
Good, that's good government.
Speaker 2 (26:44):
Okay, government involved, public private partnership.
Speaker 3 (26:48):
No, stay out of it.
Speaker 2 (26:54):
Anyway, gotta take a break. We're gonna get back. I'm
gonna get back into an issue. And it's unfortunate, you know, well,
it's not surprising. It's unfortunate, but not surprising. The media
is not covering properly in regards.
Speaker 3 (27:08):
To the shut down, the government shutdown.
Speaker 2 (27:11):
And the problems with Obamacare, because that's the issue right now.
Speaker 3 (27:16):
And again it's.
Speaker 2 (27:17):
One big fat see I told you so a moment.
We'll get into it. We get back watch Dog on
Wallstreet dot com. Watchdog on wallstreet dot com again, our
personal CFO program, our podcast, newsletter, all sorts of great stuff.
Speaker 3 (27:29):
Watchdog on wallstreet dot Com. We'll be back.
Speaker 1 (27:34):
Soon. Shot ticking Wall streets, liars, crooks and cheets out
behind the woodshed. You're listening to the Watchdog on Wall Street.
Speaker 2 (27:58):
Welcome back, Okay, government shutdown rolls on and again this
is great for all of those people that we like,
you know, they call them congressmen, congresswomen. They you know, well,
they're more influenced pedlars at this point in time, so
(28:20):
most of them do. They're more concerned about making YouTube
videos and posting them on their social media and getting
likes and again dividing people than actually doing their job.
What is this What is this shutdown all about? The
(28:40):
shutdown is about one of the worst government initiatives outside again,
outside of all the wars that we've been engaging in.
Speaker 3 (28:52):
In my lifetime, and that's Obamacare.
Speaker 2 (28:57):
Everything that we told you was going to happen with
Obamacare has happened. Again, we don't even really hear that
much about okbamacha, Oh, we hear about our healthcare subsidies.
And I got hikeem Jeffries out there. It's a republican,
(29:18):
Republican healthcare problem.
Speaker 3 (29:21):
Dude, shut up, Okay.
Speaker 2 (29:25):
Shut up, Either you are really really dumb or you're
a liar. But again, that that's most people who are
politicians again, did they just it's like second nature.
Speaker 3 (29:38):
To them just to lie.
Speaker 2 (29:42):
This is about, This is about Joe Biden Inflation Reduction
Act gave super enhanced Obamacare subsidies, super enhanced to the
point that a family making five hundred thousand dollars could
actually get Obamacare subsidies. They want to extend that, They
(30:11):
want to extend that, And the various different numbers put
it at anywhere between a half a trillion and a
trillion dollars over the next ten years.
Speaker 3 (30:20):
Hey, what's a half a trill? What's a trill? Amongst friends?
Speaker 2 (30:23):
No big deal, and you get the usual crap, usual crap.
Speaker 4 (30:30):
Coming on the Oh, people are gonna lose their health
insurance and their premiums, their premiums are gonna skyrocket, and
they're not gonna be able to afford health insurance, and
the sky is gonna fall in the world's gonna end.
Speaker 2 (30:44):
Well, yeah, people's premiums are gonna go up. Well, the skyfall,
the world end. Now, no, they won't. But I'm just
suggesting that maybe we deal with the reality, the reality
that Obamacare is the the greatest failure, great greatest fail
(31:07):
I mean, then you gotta go, yeah, you gotta go
back to LBJ and his Warren poverty programs to compare.
Speaker 3 (31:14):
It's that bad. Okay, it's so bad.
Speaker 2 (31:18):
I'll tell you how bad it is that the Washington Post. Yes,
the democracy dies in the darkness, left wing Washington Post
and I quote, the real problem is that Obamacare was
never actually affordable.
Speaker 3 (31:36):
You don't say more on this.
Speaker 2 (31:39):
Uh, when we get back Watchdog on Wallstreet dot com,
Watchdog on Wallstreet dot com, we'll be back.
Speaker 1 (32:02):
This is the Watchdog on Wall Street.
Speaker 3 (32:08):
All right, I mean I'm.
Speaker 2 (32:09):
Gonna throw this, tell this at you. Okay, let's say,
let's say you have a refrigerator in your house that's broken.
It's broken. It's been a disaster since day one. You've
had to throw more and more money at the refrigerator,
and then you need you need to repair it again.
Speaker 3 (32:32):
You need to repair it again.
Speaker 2 (32:33):
And the repairs are gonna cost seven hundred dollars, so
an additional seven hundred dollars. You've thrown ungodly sums of
money at it since then, But a new refrigerator is
gonna cost you five hundred dollars.
Speaker 3 (32:52):
What do you do?
Speaker 2 (32:54):
Do you repair the old, crappy refrigerator that hasn't worked
if you had to throw money at it for seven
hundred dollars or do you go out and you buy
a new refrigerator for five hundred dollars?
Speaker 3 (33:04):
What do you do? This is the issue.
Speaker 2 (33:09):
How is it that I can explain this to the
American people? Yet you can't have a single Republican go
out there and actually do their job or politics involved
with us and the American people are inserting they're gonna
walk there. There are subsidies and you know somebody percent
says this, Well, you're not doing your job. Your job
(33:31):
is to lead to explain to people what the the.
Speaker 3 (33:34):
Disaster that this is.
Speaker 2 (33:36):
I am I'm hoping, I'm praying that Donald Trump holds
the line. Or you're getting mixed signals here you are,
You're getting mixed signals. White House Census, political risk on
healthcare despite shutdown, bravado. Trump open to healthcare talks with
Democrats and shut down.
Speaker 3 (33:58):
Again.
Speaker 2 (33:59):
That's that's a bridge too far for me. He does that,
I'm done, Okay, I really I can't support this guy
and what he's doing anymore because you're just not doing
your job. You're not this is this is a major
issue for this country. It's been an absolute disaster. The
(34:20):
politics that are involved hed You go back and you
take a look at the finances for Obamacare and the jump,
the jump in premiums. You got a massive jump forty
seven percent between two thousand and thirteen and two and fourteen.
That's when it really first went into effect. And then
(34:41):
you take a look at these numbers and what the
people that are what are contributing, and what the taxpayer
has to contribute.
Speaker 3 (34:49):
Yet the premiums keep going up.
Speaker 2 (34:51):
And I want to remind everybody that Barack ba Obama
said that everybody's insurance was going down by twenty five
hundred dollars.
Speaker 3 (34:58):
Okay, twenty five hundred dollars what.
Speaker 2 (35:06):
I spent over thirty thousand dollars a year, I used
to spend seven. My health insurance is nowhere near as
good as it used to be prior to Obamacare. My
deductible has gone through the roof. I got to deal
with some call center out there. God forbid, if I
gotta get an MRI or something like that and try
(35:26):
to get that through.
Speaker 3 (35:27):
It's a disaster. Who has made money on this?
Speaker 2 (35:32):
Everybody asked the question, and again, this is one of
the reasons why. Okay, so one of the reasons why.
That's part of the problem that people have on the lead.
I lot them a legion to the Republican Party. You
don't think Republicans, why don't you go take a look
you can. You don't think Republicans are getting checks from
health insurance companies. Who do you think the winners were
(35:52):
in Obamacare?
Speaker 1 (35:54):
Oh?
Speaker 3 (35:54):
You think you think they were doctors? Wrong? Wrong doctors.
I mean, I'll tell you why. I got many, many.
Speaker 2 (36:06):
Physicians, surgeons, clients all over the country.
Speaker 3 (36:09):
Friends. I mentioned it on a program. My eldest son,
that's what we wanted to go into medical school. Every
single doctor that he knew.
Speaker 2 (36:19):
And these are some of his coaches that coach with
me as his youth told him not to do it.
Speaker 3 (36:24):
Don't do it, don't do it. Are you kidding me?
You kid me?
Speaker 2 (36:31):
This is a good healthcare system we got here in
this country. No, No, it's middlemen that are making money,
hospital groups, a myriad of different things, not doctors, and
your healthcare gets worse and we just smile and take it.
Speaker 3 (36:53):
Yeah, people ask him, what would you do? What want?
How would you handle this? Well?
Speaker 2 (36:58):
If I was president, as president, they had the situation,
I tell the I'm not kidding. This is what I
would do. You want to see me solve the problem.
I'll solve the problem. It's radical.
Speaker 3 (37:09):
It's radical.
Speaker 1 (37:09):
Yeah, you know.
Speaker 3 (37:10):
The sniper end up taking me out after saying this.
It is what it is.
Speaker 2 (37:14):
But I mean, uh, I tell the entire country to
stop buying health insurance. I said, cancel it, Sarah, all
you small bit everybody out there, okay, yep, your premiums
are gonna go through the roof of you know, we
know this because the subsidies are going away. What I'm
gonna suggest everybody do is to stop buying health insurance.
Just don't buy it. Don't buy it. What would happen,
(37:37):
won't she whiz? We got this thing. It's you know,
maybe the free market would have to take an effect.
Insurance companies be.
Speaker 3 (37:43):
Like, what I mean, We're gonna go out of business.
Wies gonna be terrible. It's gonna be anarchy out there.
Oh really really no, no no.
Speaker 2 (37:53):
You might have to start pricing your product based upon
what people could afford to pay. The government would have
to say, oh geez, we can't have all of these
ridiculous mandates in this nonsense.
Speaker 3 (38:04):
Oh gee whiz. Maybe we could.
Speaker 2 (38:05):
Start offering a product like you know, I don't know
catastrophic health insurance that young people can have and they
can afford. The free market solves the problem every damn time.
Speaker 3 (38:21):
You we're again I mentioned this, We're in a hole. Okay.
Speaker 2 (38:27):
You think throwing more money at Obamacare is gonna work
any time the government subsidizes anything. Subsidies are bloody demonic, Okay,
but they're treated as they they are, like the brought
down from the angels. It's handouts and giveaways. All it
does is make the price go up. It doesn't make
(38:49):
any difference. Whether it's college education doesn't make a difference,
whether it's housing, doesn't make a difference. When it's healthcare,
anything the government subsidizes, the price is going to go
up again if you're getting the subsidy, like, oh, I
love my pol He's giving me free stuff. Weak up America.
(39:13):
We need to blow up. Blow up Tyler Durton, fight
comp blow up Obamacare. It's a disaster. Watchdog on Wall
Street dot com.
Speaker 3 (39:29):
You feel like
Speaker 1 (39:31):
You're listening to the watch dog on Wall Street
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