Stocks, Bonds & Debt: What’s Really Going On?

0:00Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation, or needs, and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy. This is another money show. Get set. For another hour of the latest financial information and economic news affecting your bottom line, JR and Anthony are committed to helping more Americans like you optimize their income, reduce their tax risk, and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correo, and JR Rochford. Here we are, your hosts, Anthony Correo and JR Rochford taking a break from our day-to-day as financial advisors with Rochford and associates, a fully independent, veteran-owned fourth-generation family office right here in Sun City, AZ. We're taking time of our day to bring you stuff you're not hearing on those other financial

1:01radio shows. We're aware the last thing you need is another money show, but we appreciate you being here. And no special guests, no surprises. Just me and JR and our buddy Sam this year or week or month or whatever today is. All right. Good intro. You're not really sure where you are every Anthony area. Today is... So that's the third. Today is the third of September as we record. And I know this is new for this show, but we have a lot to get to. So I'm going to try to get busy today. And I'm going to try to cover everything I have for us today because it's all important. So the shout outs, I want to give a big shout out to Rick Criberg. So if you tuned in to last, what are you reading? A map Anthony? What are you talking about? So yes. If you tuned in last week and you heard something different, that was our buddy Rick, who was the founder and CEO of Veterans Affinity. We had a lot of positive feedback. We had one, you know, we're always honest. So if somebody didn't like the show, we want to hear that too.

2:04We have one that the person actually put it in writing to me. Would you two, Sam, one and only Sam Davis? Anthony, would you like me to read this? It's not too long, but it's... He definitely was not in favor of the show. So let me read this real quick. When you are supporting a good cause, that's great. If there's no information or importance for 90% of your audience, limit it to 10 to 15 minutes max. After 10 minutes or so, I started fast forwarding to find when he was done and onto the next segment. Well, I got to the end and he was still talking. If I listened to it live and waited that whole time hoping for more, this would be more of a B-I-T-C-H-Out session telling you how you stole an hour of my life. Man, this person needs some help. And he knows who he is. We talk regularly. So it's a disclaimer. I didn't listen to the whole show. So maybe you got to something relevant. Wow.

3:04My point, half your show should have some relevance. What I personally sign on to here. Take my two cents and throw it out the window because that's probably not worth half that much. That was what was sent to me. I replied, wow, you suck. Send. That was my reply. And then I decided to put a real reply. And I said that that was the most articulate, intelligent, well thought out text I've had on the show. So I had to get a point. But also, I know that wasn't for everybody, but it is important. I mean, you are a veteran. So I know it's really important to you. So I know it was important to some other people to hear it because we had people reach out to us because they couldn't get a hold of Rick. I guess his email was down and his voice mail box is full. I didn't realize how busy it was all the time. But they reached out. They want to talk to him. So it helps some people, I should say.

4:07And the other thing is we are on 960, the Patriot. So who is a big part of our listening audience? I mean, Anthony, we met a bunch of them. There are retirees. A lot of them are veterans. So it was relevant to two people. And you know what, the thing is we need to spice it up once in a while. You can't just listen to Anthony every single week and not get a little burned out. So I thought it was good. So in the Colorado Valor Point, two weeks ago, we had Mark Buron. We only had Mark on for half the hour. So maybe that is the answer on guests that are more niche, niche, whatever the word is. So I just, I love that text. Thank you so much. I'm not even going to say the guy's name because you wouldn't believe his name anyway. Like what parent would name their child this guy's name? So anyway, but I do love this guy. I mean, he is one of the favorite people I met in my life, other than Sam and Anthony, of course. Anyway, moving on. So one quick shout out to one of our loyal listeners, we talk periodically.

5:09It's a young lady named Betsy and Betsy. I mean, I just, I heard feedback. I mean, the conversation we have our good. She asked me to reach out to her. So I'll be doing that hopefully today. So actually Betsy, by the time you hear this, you will have talked to me because we're recording on Thursday and you'll hear this on Saturday. So moving right along, I'm going to get to mostly financial things today on purpose. And by the way, Anthony, you said I'm a veteran. That's true. And we only have two more desert storm trading card packs. So unless one of them contain Saddam Hussein, I'm hoping one of you two becomes a future veteran because you need to get one of your needs to list. Actually, you both have come. Didn't they just bump up the elisman age from like 35 to 42? Then official thunder is that a rumor? No, I heard something that effect. I didn't vet or verify because I really don't know. You don't know, and you don't have to worry about it. I have to worry about it big time. They can call me back. They won't send me to any kind of a battle zone, but maybe they'll backfill me at Luke Air Force Base so somebody else can go fight.

6:10Who knows? I think once you've served in military, there's some loophole they could recall you. I think it's called recall. So I don't know. Let's see here. So we have, this is a great point. Sam, I just looked at the board. We have 200 plus episodes that we have online for free. So go listen to another one. We've all agreed that you suck. Okay, moving on. As long as we're on the desert storm trading cards, do you mind if we pop one open real quick? This was Sam's idea. I thought I was wonderful, but it's nearing the end. So we're going to find something else to do. So next week. So what do we have this week? Come on. Please, we have military asset. We have a F-117 stealth fighter. Pretty cool. We have a map reading. I just saw Anthony reading a paper map a few minutes ago. We have something to do with map.

7:11Whoa, look at this. We have president. We have government president and cabinet. I believe that's Dick Cheney and George Bush. So this is our third time seeing Bush. Is that Dick Cheney or Lon Cheney? That's one creepy looking old man. I think that's Lon Cheney. No, Dick Cheney. Didn't Dick Cheney shoot like somebody or somebody shot Dick Cheney? We have geography. Hey, instead of Finland or France, we actually have the United States. That had a big part in this whole thing. So that's good. We have that. We have more geography. This time we have Pakistan. I'll buy that. I think Pakistan has been an ongoing part of that whole conflict. We have a military asset. We have a black hawk. Super cool. Black hawk delivering a couple of jeeps. So I really like that. We have a military skill, which is teamwork. What is it that Sam says to us to pep us up and prep us for every show? Teamwork is dream work or some horse, something like that. We have a leader. We have Javier Perez-Dique-Laur.

8:15Not familiar. Probably should have been. Not. Didn't really care. We have government. We have the Canadian system. So this is bad. We've got one more card. It's not Saddam. Sorry. You guys have one more chance. So we have Canadian government. Real quick while I'm showing you Canada, new tariffs start on September 8th. So if you're one of our Canadian listeners, if you're a snowbird or not, new tariffs are beginning. Do you want to know what to do between now and the 8th? Run to your local Sam's Club or Costco or BJ's or whatever you have Sam in Atlanta. Toilet paper. They expect toilet paper. This is going to remind you of 2020 to go up by 25 to 50 percent right after the tariffs kick off. The tariffs will probably be stopped. It will probably be a taco effect. But anyway, so toilet paper is supposed to be... Or people can buy a bidet and then they don't have to worry about toilet paper. That is true. So Anthony, excellent point. If you remember 2020 and there were shortages, that's where the promise.

9:18It's not the cost as much as the availability. So last card of the day, I'm sorry to say it's geography. This one is Israel. So that's kind of relevant today too. You know, we're in several different hot zones around the country. One of them being Israel. Don't forget about that. And Ukraine, Ukraine and Russia, that's the one on. The Iranian thing is heating back up. So there's a lot of tension. We are going to get to a store in a little bit here about China and Russia. So that's kind of terrifying. But to get into some financial matters to start out, did you... Are you watching SpaceX? You know, they're big buzz around SpaceX recently. That thing's moving. So they... Sam, I need to start watching what Sam... Sam's a genius. He's... This is great. Sam put... I'll just use 25 to 50% less. So good for you. Sam's going to be using leaves and phone book pages, but less toilet paper. So it's funny. I've got such ADD and stuff.

10:20I just noticed things and I stopped everything I'm doing. So SpaceX, it's moving. So a lot of the people that, you know, we're wondering if they should get it. I... We'll never ever give you any stock recommendations on the show. We cannot do that. We... I don't know, but there was a big buzz around it. What month and a half ago? So look into it. If you were wondering, it's moving. Sam is Bitcoin. Bitcoin is up. What? 81,000 dollars of coin again. So when it was 124,000 last October and people, you know, they wanted it, then it got down to what 68, I don't know, whatever it was here recently. Now it's back to 80. So get ready to start dialing up your broker and pop it into Bitcoin again. It's rising. XRP up to a buck 40 something this morning. So hang on to the cryptocurrencies. They're coming. One other one that I watched. Facebook. I'm sure you heard on Capitol Hill. Zuckerberg, you know, Facebook meta, they basically had to justify, you know, why they exist for anybody under 18 or 21.

11:23And they couldn't. So they got fine. 17 billion dollars. Billion with a B. I guess that billion of the B doesn't hold any weight anymore. We always have to work with trillions now. Played by. Because basically they said it was harming young people. So they, the government who I guess, I guess they can find whoever they want, the government basically has taken 17 billion. It's presumably. It seems like an overreach. Because don't get me wrong. I deleted my Facebook. I hate Facebook. I don't think it serves a purpose for under 18 either, but I don't also think the government can just come in and say we don't agree. We're going to find you a time. Welcome to a, we're welcome to a smaller government mindset. I good, good to hear you say that. I also don't think the government should be able to, it's a free market society. If people can't, if your parents can't monitor their own kids, it's not the government's job. So I, I agree. This will be what I hear. This will be the largest, I'm sorry, second largest government, you know, overreach

12:23settlement in history. First being big tobacco. So and I know Arizona is one of the states that got a bunch of that money. So we, we, Arizona is supposed to get something like, I don't know, $200 million out of this Facebook settlement, but we'll see. I'm guessing I'll never see any of it. And I'm sure my child was harmed by Facebook. A, a, a, a, a, a, Zuck if you're listening. My child was personally harmed, actually I'm harmed too because I can't even go to the restroom without bringing my phone. And I'm going to blame a lot of that on you. So Facebook that's weird. And then of course the first thing that I noticed after that was announced, stock goes up. It's, it's insane. I mean, this world is so crazy. Good news is bad news, bad news is good news. You know, the company gets a fine of that magnitude. You would think the stock would at least take a breather. Now of course not. And by the way, I just pulled up the old stock on my phone, the little app I have, the Dow Jones today is up right now. It is up 578 points. So and, and I'm always curious what makes the market move.

13:25It was up 600 points of the Colorado. So I took a quick peek on the old internet and what I found, let's see here. Why, you know, this rock or a chatty G or whatever these things are, they're, they're, I'm starting to do a death. I'm starting to be really in favor of data centers, flock cameras, robotics, AI, because I'm starting to understand that it's so quick. All you do, and you can phrase it however you want. I'm like, why is the stock market going up? I didn't put today. I didn't put the day. I didn't put boom. It shoots articles to me. Stock market today. Dow rises on Fed comments. Fed comments, treasury yields retreat after Fed governor Waller remarks. That's from market watch Waller string. No, no, no, no, no. Here's another one. Fed's Waller says central banks next rate move depends on upcoming inflation report. So the one Anthony, you used to talk about this. You're like, and I think it was mostly about Trump. You're like, whenever somebody talks, that means the market's going to pop.

14:28Yes, that's where we are. And we've said to you that the financial markets are riddled with manipulation. Here's a great example. Company fundamentals be damned. PE ratio is be damned. Waller came out. Anthony, Sam, do either of you know who Waller is? One of the Fed geniuses. You know how I always kind of make front of the treasury and the Fed because like with the Federal Reserve, they're not Federal and they don't have no reserves and the these treasury people have no idea what they're doing. Maybe Waller, so maybe these people, maybe they were relevant in the 70s or 80s. When the debt was not so insurmountable and the Fed used to manipulate rates up or down, it could change things. You raise rates enough and the economy's going to crawl off. That's just simple economics 101. You lower rates enough. You're going to spur growth. But right now we have one heck of a problem. They lowered rates in the last couple years. What nine times? Anthony, we watched that stuff because we were in the financial world. Nine times I think they lost and rates went up.

15:30So don't tell me the Fed and the treasury and these people have any relevance or value anymore. They have one trick and we have brought this up for years. They're going to print more money, quantity to be easing. I don't care if they change the terminology which they're in the process of doing right now. That's all they have. We're going to we're 40 trillion in debt and the only thing they have is two and we're intervening to save the bond market. If you're not watching the bond market, you need to be right now. If you're financially savvy at all, you need to see this because the bond market is imploding. And somehow we are intervening in the Japanese yen, the Nikkei 225, their financial market, doing great. Just like the Dow. So I just want you to know and my whole thing, well, that's great. I have a 401k. It's going up. But Jerry, you can't be right. That we're at the end of the world reserve currency. We're not at the end of the Fiat dollar because my 401k. Oh, and football. Football starts right week or two. So Rome is burning behind the scenes.

16:32I honestly believe that we are going to have a market meltdown, the likes of which we have never seen. What is going to be the trigger? They prop it up so hard. And obviously people listen to this show. You're hearing one person's opinion. Do I know all this stuff? How would I know? I don't have a crystal ball. I'm barely even intelligent enough to put my shoes on the right feet. But I can tell you, as much research as I do on global debt and bonds and derivatives and anything I can, like a little financial sponge, nothing makes sense. I've told people for a long time, I am not an optimist. Really? I'm not a pessimist. I am a realist. And I'm just telling you right now, the economy is on life support. In the credit card debt, 1.2 something trillion, the highest it's ever been in history, autolone, sub-prime autolones, private credit, everything is off. And yet my 401K is up. Oh, that's good.

17:33That's perfect. You know what? A bunch of the stuff is in your 401K. If you haven't looked in a while, you got your target date 2445. So you're sitting pretty. You know what a lot of it is? NVIDIA. Oracle. Metta. We just got fine 17 billion in their stock. You're very heavy in certain sectors. You're not as diversified as you think. So if God forbid, we have another tech bubble burst and AI bubble this time, you better watch your stuff. You better be watching your stuff or you better have an advisor that's helping you watch your stuff. You just better have a plan. So the old Bilo sell high. What should you be doing right now? All time high records this year, one after the other with the markets and do whatever you see fit. I'm just shouting at you because things are going to give. I was here for 2000. I was here on 9-11 when I was playing in a building. I was here for 2008. I remember the psychology of my job. I remember the conversations I had. Anthony's been in the office over eight years and hasn't had to have any of those conversations.

18:33COVID was just a blur. He was fast and furious and it was over in 31 days. So Anthony hasn't had to see the psychology of a market correction of any size. He will. It's not going to run forever. Again, my opinion. But he will. 9-11 speaking of that, the anniversary for 9-11 is coming up what couple weeks. I mean, this is the third. So let's see, 11, I carry the six, two. So you know what I'm saying? It's coming up soon. Be aware of your surroundings. I mean, I don't know. It's the 25 year anniversary. So it's a milestone anniversary of a terrorist attack. There could be problems. I don't know. And I did watch. I know this is not a political show. Some of it is just like unreal. Like you can't make this up. I watched Kathy Hockel videos this week. The governor of New York a couple weeks before 9-11. It was this past weekend. Speaking to some groups wearing a hijab. So Anthony, I've asked you to look up Angie Nixon. You know, I've given you a couple names.

19:34Hassan Piker. I'm just saying the demographics are changing. The government's changing. And something like if we got forbid had a terrorist attack on this soil to commemorate 9-11's 25th anniversary, that could be the black swan to get the markets to have some problems. So be awake. So toilet paper's rising. Isn't it nice that Rick or Mark Burr is not here this week? Yeah, I'm back. So welcome to it. A few other general things. I used to make fun of the strategic oil reserve and lack of filling it under Biden. I'm going to bring it up again. I don't care if it's Biden, I don't care for his Trump. We are at the lowest point on the strategic oil reserve since 1982. I read this week. I didn't vet and verify I live for other sources because I know it's been being tapped. So just so you know, if we do have a problem with this country, I'm not sure what we're new about it. Before I get all the way away from politics, either of you, Anthony, Sam, have you either you heard from Mitch McConnell? We even brought that up in a few weeks.

20:36I mean, Mitch McConnell, he's still in office, right? He's still one of our representatives, our leaders, uh, Maxine water. Remember, mad Maxine waters? He, I understand if it's true that she is in an Alzheimer's facility and she has not vacated her post as one of my leaders. So I don't know. Can Maxine, can Mitch, can they still vote on matters of importance in our country? If so, I don't know. I love that corporations let go. They're staff because of old age and incompetence, but we keep electing people better, you know, one foot in the grave. Yep. That's why I believe the pendulum, the next wing, I'm frightened to say this more for you guys than me. I think we're going to get younger people and I look at the younger people running for office and it ain't, it's the DSA. I mean, I hate to say this. And Sam, you are correct. They are voted in by their peers and, you know, the golden rule, whoever has the gold

21:37makes the rules. These people are never going to vote themselves term limits. They're never going to vote themselves in age cut off where you can no longer serve like the military does, as you mentioned earlier, they're just going to sit there and, you know, cheat us and ride that gravy train until then, you know, I guess the good news is it's about right to end. So, uh, the debt ceiling brought that up a couple weeks ago. The debt ceiling is supposed to be in what 28 or whatever days from now and a September. I heard that through the house, none of this makes it to the mainstream news. So luckily, if you're listening, you have us to make sure we remind you of all the things going on. Apparently, it's going to be averted. Can you imagine country that's 40 trillion a debt is about to start printing and buying our own bonds because nobody else wants them. Everybody else is jumping their bonds and the debt ceiling is going to be averted and then it's going to be okay until like December, Sam pulled up the national debt, you know, make sure you make your way to us debt clock dot org. We are now at 40 trillion 110 billion, 536.

22:38It's unreal. The Anthony brought up the federal debt to GDP ratio a few weeks ago. I'll give you an example. In 1980, some of our listeners, you probably remember 1980, I was a sophomore in high school. It was 34.66%. Meaning our debt was a third of our GDP. It is now, oh, that's the next one 2000. 2000 wasn't that long ago. It was shortly before 9.11. So 2000, it was 56.37%. Guess what it is now? 122.73%. If you don't know what that means, it means we are debt. Is 20 something percent higher than what we're worth? Think about your credit card. If you own, I don't know, I'm sure people understand what I'm saying. We're in trouble and again, I'll bring it up again because it hasn't happened yet. So it's never going to happen. The bricks nations are getting rid of us.

23:39I ran, try to get to this later as one of my lesson porn articles. I ran is joining the bricks nations banking system as we speak. They're in the joining up process. So I don't know. We'll see what happens. I need to calm myself down because it's almost break time and I have to get to these articles. I will tell you one thing. If you're confused because the bond yields are rising, if you're confused, why, I'm going to read something to you that I got from JBT, arise in bond yields typically indicates that the price of the bonds are falling. That's the part that seems to confuse people when I talk to them. They're like, how can bond yields rise if the price is fall? So that's what this is addressing, which can happen when investors expect higher interest rates or inflation. This can affect borrowing costs and overall economic conditions. Bond yield refers to the return an investor can expect to earn from a bond.

24:43It is typically expressed as a percentage of the bond's face value. Okay. This gets a little bit deeper in the future. You made it explain it. Can you explain it? So it's real easy to understand. So there's an inverse relationship. If bond rates go, if the yields and interest go up, then the bond values go down. So if a bond was paying 4% a year ago, right? So they've already been released. So now if you're going to buy it, you're going to buy it on the secondary market and new bonds issued today are at 6%. Then why would I give you face value for an old bond paying 4% when I can buy something new at 6%. So you have to buy it at a discount to make it worth wild. So as rates go up, the value of old bonds go down. In theory, if you hold it to maturity, it's going to earn its interest. You're going to get whatever you put in back plus the interest. But for a secondary market, why would I buy? Why old stuff at lesser interest when I can buy new stuff at higher interest?

25:48So if you want to offload, if you have old bonds with lower interest rates, you have to sell them at a discount. That's what that means. That was beautiful. And then a bond 101, when you buy a stock, you're buying ownership in the company. You've got voting rights. When you buy a bond, you're loaning money to the company. There's some simple concepts. But right now, the bond market isn't deep, deep. You know what? It's worse than the stock market. But the stock market will generally have problems too. We're at break time. So let's do this. Let's take a break. Come back. I did just get a text from Mitch McConnell. So I guess he's okay. I'll read it to you right after the break. So I'm just stick around for that. If you want to sit down with us, we'd love to offer you a second opinion on your finances. If you've got an old 401k sit in there that you haven't looked at in a while, we'd be glad to go over it with you. See if it's where it should be. Anything you need. If you need asset-based long-term care, if you're one of our listeners in your 40s, through 90s, we can talk about that. So we're at 623-523-0444, or you can email team at another moneyshow.com.

26:53So don't forget our YouTube channel. We're sitting there around 700 subscribers. We can't seem to grow. We don't know how. But we do have like 545,000 views of our videos. So it's a powerful channel for a little tiny guy. So please support us, like, subscribe all that. But we will be right back. Thank you so much for being with us. This is another money show. Except this one's different. This one will actually keep you awake. At Rochford Enesosiaz, we know you worked hard to earn your money, and you've worked even harder to save it. When it comes to wealth management and planning for retirement, J.R. Rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran-owned firm for more than 25 years. Give us a call now at 623-523-0444. That's 623-523-0444.

28:00Welcome back to another money show. To schedule your free no obligation consultation with J.R. and Anthony, visit another money show.com or call 623-523-0444. Welcome back to another money show. Thank you so much for being with us. You know we greatly appreciate it. We're four and a half years. We're still here every week. Never we've never not done a new show every week. Christmas New Year's doesn't matter. We do a new show every week. So thank you for supporting us. I just hope you know how much we appreciate it. Right before the break, I told you that I got a text from Mitch McConnell. I mean at least I think that's what's from. Let me read it to you. Civil disobedience is not our problem. Our problem is civil obedience. Our problem is that people all over the world have obeyed the dictates of leaders. Wow Mitch, this is heavy.

29:00Millions have been killed because of this obedience. Our problem is that people are obedient all over the world in the face of poverty, starvation, stupidity, war and cruelty. Our problem is that people are obedient while the jails are full of petty thieves while grand thieves are running the country. That's our problem. Wow, this is really something that was sent to me. I'm not sure for sure that that was Mitch though. I'm gonna have to plug in that word allegedly. Maybe it was Maxing Waters. I don't know. Maybe it was Ted Nugent. I don't know, but that's a pretty good read. So, yeah. Let's move on. I've got a couple things that are very important. I guess the first thing I want to talk to you about is my biggest fear. If I had to narrow it down, my biggest fear is if we had any sort of power grid failure,

30:02you know how over the four years I've kind of sprinkled in the fact that I went to a class on EMP's electromagnetic pulse and high altitude electromagnetic pulse, I went to a class on it. This is going back about 15 years ago and I couldn't believe what I was hearing that the government is letting us be vulnerable. The government knows that our power grid is antiquated mind you 15 years ago and they haven't done anything about it. Fast forward 15 years. By the way, I retook that class two more times. One of my neighbors, a guy named John, he went with me. It was at a classroom at Cabela's. One of the ones he went to. I told him about it. I'm like, you have to hear this stuff. So yeah, crazy. And fast forward. And now when I think about, you know, we had open borders so we don't know here. We're going to have a financial collapse. The real estate market is going to cycle and you know, every bond market is going to completely implode like it's started. So there are a lot of bad news. I think the next political swing, we're taking a very, very serious chance that the DSA

31:07is going to be our next party and that's scary. They're overrunning the Democratic Party. The Republican Party has no clue what to do. You know, Trump is going to try to lower beef prices between now and the midterms. And this is the beginning of September. So he's got two months to get gas prices under control, food prices under control. I don't think it's possible. So I, but my biggest fear if we had any kind of a power grid failure. So about a month ago, we told you that like, I don't know, 13 states had some issues with their water treatment plans or their, their water supply. You know, and I said, maybe that's a test. I don't know. Well, now I'm watching the substation, you know, issue around the world. I'll take you to Germany first in Germany yesterday. I'm sorry, two days ago, I guess it was. They had a couple transformers attacked. And at first they were like, well, it might have been, you know, people are shooting rockets. Apparently, it was a big deal.

32:08I mean, these, these things were attacked. And so what didn't make it to the news? I'm always watching this country. I mean, I feel bad if you're German and you're in German in your listening. I feel bad for you if you go without power. But we've had a couple of states have some power interruptions here. So then on the first of September, apparently there was a company called Howard Industries. This is out of Laurel, Mississippi. They had a big fire. So could it be an accident? Yes. I talked about, you know, grain silos and food plants and, you know, we've talked about things before. Could it be an accident? Yes. I just, I'm suspect because this company Howard Industries, apparently they have 14 plants in this country. And one of them just got completely obliterated. It started as a fire into explosions, Howard Industries. I read a little bit about them. They are a renowned company that specializes in the design, manufacturing and distribution

33:11of electric transformers with a rich history and decades of experience. Howard Industries has established itself as a leading providers of high quality transformers and comprehensive service capabilities. Okay, here's the problem. We get about 80% of our transformers from overseas. Looking at you, China, we get about 80% of our transformers from overseas. So the estimate is it would take two to three years to get one here if any country would incorporate and help us. So Howard Industries in this country is extremely, extremely important. So and I read a little bit about the fire says here the fire broke out at the company's facility in Laurel, Mississippi after a paint booth caught fire next to a tanker truck carrying an explosive substance. All employees were evacuated and officials warned people to avoid the area as thick smoke rose and fire fighters from across the country responded. I'm not going to read any more here because you get the idea.

34:13But when you don't hear this stuff on the main street news, you know, I mean just yesterday there was a mass shooting in where was it this time in Minnesota Minneapolis and I didn't hear at least as of last night, I didn't hear anything on the news. You know, somebody sent it to me so I could be awake and wear an emblem and watch it. The stuff of the transformers though, this could affect the entire country. So and yes, if you're great, you've got a generac, you know, as long as there's no disruption with your propane feed or your source of energy that feeds the generac, which feeds your house, you're fine. But if we had a nationwide power outage for any length of time, people are going to get real sketchy in a big hurry. What can you do about it? Not much. I would always say talk to your representatives. You know, I mean reach out to people and say, what are you doing about this? You know, nobody seems to know about it if they did. They might care. So my other thing, make sure that you have food and water in your house. I know conservative financial planner, you know, say, say in this stuff to you, make sure

35:19you have a solar generator or two. Make sure you do some things to at least, you know, so you don't die. I mean, at least make sure you can run your cell phone. There's all kinds of stuff available. We've talked about water bladders for your tub. It's called a water bob. You can buy flashlights that are solar and they have a little port to charge your phone. Make sure you have a hand crank radio. I mean, just do some things to be safe. And then I guess I'll move on from that. But it just, it fright me, you know, the same day Germany had an attack on two different major substations. And we have a big fire at one of these plants. So I'm watching it. That's all I tell you. Let's go back to bonds for a minute. I don't think we did justice to what kind of a problem we have. So some of what I've been reading about bonds, here is something from a publication called qz.com. And apparently the name of the sources quartz. I found this on the 24th of August.

36:21The US or the title treasury could tap its near one trillion cash account to fund bond buybacks. Well, we're 40 trillion and that's so let me, let me put that in the back of mine as I read some of this. The US treasury is considering using its near $950 billion general account to help fund its recently announced bond buyback program according to CNBC citing two senior treasury officials. The officials said the account is considered available for purchases on the off the run securities, but declined to specify how much. If any would be used or when the announcement might come, I'll tell you when it's going to come the next two weeks. The TGA. Did you know there was a TGA Anthony have you heard of that? No. No, I've been in this job for almost 30 years and I didn't know we had a TGA.

37:26So, so this is called the treasury general account and it's got almost a trillion dollars in it. If we're 40 trillion in the whole or if Medicare and Medicaid and Social Security are struggling, how do we have this fund and how did I not know of it? So let's see here the prevailing expectation in markets was that the purchases would be paid for through new short term bill sales and approach best labeled as treasury twist during a CNBC appearance last week. Let's see here. The enlarged operations are set to run from September 9 through November 4. Do either of you know where the midterms are? So this is off the timing is odd. So this article from Quartz found another one because they cite it and they sourced CNBC. So once a CNBC, see what they had to say it on the same day, Besson could tap near one

38:28trillion treasury general account. I'm still stunned because I've been in the job a long time and I had never known that we had a little rainy day fund. Let me read just a little of this one. Bessons in the CNBC interview called the operation a treasury twist a reference to a government or Federal Reserve operation where long term treasuries are bought and paid for with short term issuance that also implied that the short term bonds would be sold to home. There are no buyers for our U.S. bonds. Using the TGA they've even got an acronym for this using the TGA could change that perception. The TGA is essentially the government's check in account a rainy day fund of sorts held at the Federal Reserve. It's already funded with existing tax collections. Oh my gosh. Besson told CNBC last week that the treasury's intent was to get the market to focus on the

39:31fundamentals and not trade the headlines during a quiet period in a thin market. So we're trying to keep the market in equilibrium. What on earth did I just read? So the fed that has no power other than to buy print, make things out of thin air is going to they're going to jug of this. Okay. Now do the stock market. I don't know. I found that interesting that I had never heard of the TGA and now it's going to be part of our getting more out of money. So you want to hear something crazier? I'm going to go from that to an article I got on the 20s second of August from the end time headlines. So, you know, I have but wait Phil Swift there's more. So now for something even crazier. Trump suggests he can use the military on bond markets. If we have to use that, we will. Do you want me to read that title again or just dig in there a little bit?

40:35Wait a minute. Let's say that again. Let me say it again. This is for end time headlines. I urge you to look this up. 20s second of August because I can't make this stuff up. I would have made something less creepy up. So Trump suggests he can use the military on bond markets. If we have to use that, we will. No new wars. Trump you did say that. President Donald Trump raised the prospect of deploying the US military as a last resort tool to intervene in the bond markets, delivering the striking remark during a brief exchange with reporters on Friday afternoon. According to a report from Mediate, the president made the comments while taking questions on the tarmac before boarding Air Force 1. The discussion centered on Treasury Secretary Scott Bessense recent efforts to push down rising yields on long-term government debt. He's not in a very good job.

41:37It's still rising. Just days earlier, the Treasury Department had surprised financial markets. Woo, surprise. By announcing plans to at least double its purchases of longer term bonds beginning next month. You're going to have to explain all this to me. Like I'm a fourth grader, you're going to have to explain to me our country that is in multiple wars has a GDP of 20% higher than what it's worth. That's 40 trillion in debt on the books. That's not the underfunded and unfunded liabilities such as Medicare Medicaid, Social Security, the biggest Ponzi schemes that ever lived. Ponzi if you're with us, or boy, you've got to be impressed. If you're not, you must be rolling around going, I never dreamed. You can do something like this. A little bit more from this article. When the reporter noted that yields had since moved higher and asked whether further intervention was under consideration, Trump expanded on the administration's options.

42:39We have many types of intervention. That's one. He said, the ultimate intervention is our military. And if we have to use that, we will. In the comments, who left open questions about the scope of tools, the administration is prepared to employ. I want to hear that too, really about. Bescent had appeared on CNBC the previous day to highlight what he described as a big toolkit available for stabilizing the bond market. The big toolkit. Tell me one, apparently outside of the military, and printing more money. And lost though he stopped short of listing the specific measures under consideration. Aha. After Trump's remarks, it remained unclear whether the president and his treasury secretary were operating from the same set of options. I don't know. I've never heard anybody talk about the TGA before this week. I've never heard the last couple weeks.

43:39I've never heard anybody talk about using the military in this country to change bond rates. How they would do that. How literally how would they do that? Anthony, if you have any guesses, every week I find new stuff for people listening. And once in a while, I am shocked myself. And today is a little bit of a shocker to me. I mean, the only thing I can even think is that they know we're going to default. They know our bond rating is going to go to junk bond. They know we're done. They know. We have to go to a digital currency, you know, the genius act. What's the new one? There's a new one. I don't remember the name. I've got an article, but I'm not going to do through things. It's over. It's game over. When do we see the dollar fail? Not tomorrow, not Wednesday. Well, maybe, maybe a Friday, Friday after five o'clock, Arizona time would be good, especially

44:39a holiday week because then by Tuesday morning, we'll be okay. I don't know. I'm just dumbfounded. What do you think, Anthony? Am I overreacting? Or is there any possible? Oh, I know where I was going with that. The only thing I can think of that would tie the military to the bond market collapsing. When the housing market screeches to a halt, which it's during now, by the way, the other part of that long term bond issue, if you have credit card debt, you know, after COVID, credit card interest rate net rates went way up. If you were sitting at 23%, 28%, hang on because apparently you can go higher because these long term rates, they're going to hurt people with car loans, people shopping for a car, people with more mortgages, people shopping for mortgage, hang on. You know, right now the interest rates went from like 6.67 on the average 30 year to 6.8 or something the last week or two. So hang on. I don't think that's going to help the housing market. I feel bad for mortgage lenders and people, but I'm sorry, realtors, that sort of thing. So the only thing I can think of, man, I'm very scattered today.

45:43I saw a squirrel and I chased it. So the only thing I can think of when all of this comes tumbling down, you know, on the Friday after 5, when there's panic, you know, the following week, when it sinks into people that we really are going to have a new currency, they're going to have to, you know, marshal lot. It's all I can put together. They're going to have to say, stay in your house. We're going to make an orderly transition. You know, they love their words orderly transition to the new currency. That's all I can figure out. Pardon me, Anthony, if you come up with anything else, I'm all ears because this one threw me for a loop. Should we move on? We still have a few minutes left. That's good to another article. I already addressed this earlier, but let's talk about it for a second. This is from the end time headlines on August 13th. If you're noticing these articles are all older because the last two weeks, we had special guests. Sorry, I did less of my article gathering. I will start on that again for next week. So this is from the end time headlines on the 13th of August. Iran looks to ramp up economic alliance with bricks nations as war with us drags on.

46:47Mind you, this was the 13th. So this was more than two weeks ago. It's gotten way worse over the last 10 days. This is likely alive and well. Iran is moving to deep. It's economic ties with the bricks block by joining the group's new development bank. A step to Iran is Tehran, Tehran, whatever it is, is taking as its conflict with the United States and Israel stretches into its six month and places mounting that war. Apparently it's becoming less transitory, like the inflation. It's a little less transitory than we thought. And places mounting strain on the Iranian economy. According to a report from CNBC, Iran's central bank governor, Abdul Nasr Hamadi announced Thursday that the country is set to become a member of the bricks new development bank. Hamadi Hamadi, whatever, is currently in India at of next month's bricks summit. Iranian state media reported the bricks grouping originally formed by Brazil, Russia, India,

47:50China, before South Africa joined, has expanded in recent years to include Iran. Egypt, Ethiopia, Saudi Arabia, the United Arab Emirates, and Indonesia. Additional nations participate as partner countries. It is the next world reserve currency that works likely going to be the bricks block. That's probably who's next. So it's not going to be us. Anything else important here? The new development bank was created by the original bricks members to finance infrastructure and sustainable development projects in emerging and developing economies. The reason this bank part is important to me, we've talked about the unit, the currency, we've talked about these countries buying gold, repatriating gold they had in different places, you know, that sort of thing. So it's going to be a financial takeover of the globe is what I think. China remains Iran's largest trading partner and has purchased the vast majority of its oil exports in recent years, though it is unclear how that relationship has evolved since

48:54the conflict began. So I mean, China and Russia are partners to Iran. You know, Russia just kind of squared off a little bit further like a week, week and a half ago saying, yeah, they're given supplies to Iran, they're partners. They're strategic partners. So I mean, are we sure we can win this one? I mean, I'm a little bit frightened that we're not going to be able to... Well, how do you judge who wins because it's not a true war? Well, who wins is if we're completely isolated and we have a new currency and all of our systems collapse and the government needs to use the military to make sure we don't go into Venezuela's type civil war and there's not a power grid failure. And I mean, I'm winning right now. I don't know if there's any winning or losing. I mean, the entire world is sketchy. I don't know who's winning and losing. You know, I'm focused on the 40 trillion of debt. I'm focused on the stock markets, ridiculous exuberance. I'm focused a lot of things, you know, financially. But I think winners and losers are going to come more into play in this world.

49:57This country, our country, and I'm making a sweep in generalization. I realize this. Our country is so asleep, so dumbed down the education system for decades. The college experience has been all about telling you to make sure your parents know you're wrong. It's about everything's changing. It's not making a smarter. We're fat, lazy, instant gratification. If your Netflix is down, we'll talk about a month ago and you don't have Doritos, you're going to rise up. Why don't you rise up when we're not buying substations now proactively from China or whoever will sell them to us still? Why aren't we buying it now? Well, we don't have the money. JR, you said we're 40 trillion in debt. Well, how did we have 180 billion to put into Ukraine in the last four years? We're only broke when we want to be broke. How do we have money to put up flaunt cameras on every corner on 111 Avenue?

50:59We have money when we want to. The school system is broke. They didn't pass a bond. So the teachers are going to get raised. We're always broke when people want us to be broke. But we always have money for things we want to. So like endless wars, that's what I said. Thank you. I appreciate that. That's one of the rare problems I've gotten from Anthony. I think I'm going to drop my pen. I don't have a mic that is detachable. I just did a pen drop. I'm not sure where to go this week, Anthony. I know we only have a couple more minutes. I can tell you, if people are listening to any of this peaks, their interest, we're always willing to send you a link to the episode. Some of the people that reach out to me, they don't know how to do podcasts. So I will be glad to share the link with you. We have people that want to know more about the articles I read. I'll send them to you. There's a reason I capture them. I keep them. I print them out when I need for the show and then I can forward them.

51:59So with that said, I guess I'm going to turn a rant. This as you listen to this on Friday afternoon on your favorite podcast like Amazon or Google or Spotify or whatever, or if you're listening at five in the morning, Betsy on a Saturday or noon, have a great. I just told you the whole world's ending. You know, 9 or 11 is coming up, but do have a good, safe, happy, relaxing, fun, labor day weekend. It'll be a good long weekend. Make sure you buy a truck, buy a mattress. You'll see a lot of those commercials. So have a good one. We'll see you next week. Anthony, let me stop talking now. Well, that's it for this week's show. If you like, we heard you have any questions. Reach out to us. Team at another money show.com. Find us on the web. Another money show.com. You can book appointments straight from the website or give us a call. 63-523-0444. That number again is 623-523-0444. We appreciate you listening. And we'll see you again next Saturday at 5 a.m. and noon right here on 960-30.

53:03Happy Labor Day. Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your heart or assets. To schedule your free no obligation consultation, visit anothermoneyshow.com. Investment Advisory Services offer through Brookstone Capital Management and LLC BCM, a registered investment advisor, BCM, and Rochester Financial are independent of each other. Insurance products and services are not offered through BCM but are offered in Seoul through an individually licensed and appointed agents. Investment involved risk and unless otherwise stated are not guaranteed. Pass performance cannot be used as an indicator to determine future results. I think we can all agree, losing money sucks. No one likes to lose money, but outside of the one month downturn in 2020, the biggest blacks want event in modern times has anyone really felt the pain of a stock market loss? Has everyone forgotten how devastating 2008 was?

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