Episode Transcript
[00:00:00] Speaker A: Any 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. J.R. and Anthony are committed to helping more Americans like you optimize their inc. Reduce their tax risk and reach financial freedom.
So let's start the show. Here are your hosts, Anthony Correo and J.R. rochford.
[00:00:42] Speaker B: Here we are, your hosts, Anthony Correjo Jr. Rochford, Sammy Davis Jr. Our producer, taking a break from our day to day as financial advisors with Rochford and Associates. Fully independent fourth generation family office right here in Sun City. And we are taking that break so that we can bring you information you may not find on those other financial radio shows. We are aware the last thing you need is another money show, but we appreciate you being here. Jer said he's got a lot for us today. So I will be done talking and I will see you guys all back at the end.
[00:01:15] Speaker C: I have a lot to say every week, but this week may be our busiest, most crammed show yet. By the way, I love The Sammy Davis Jr. The one and only Sam Davis with us.
So I, I mean it's, this is hard today even to start because there's a lot of breaking news. There's a lot of things I have lined up for the show. So let's get into it. You know, I always kind of start out with shout outs. Quick shout out to Joe Jaquent. He's been on the show a couple times. He's going to join us again next week at West Valley Men's Networking. He confirmed that and he is going to have us on his show. So I'm looking forward to that. We'll have a date for you soon, looks like in a few weeks. But we're going to go on his show now, so I am super excited. So unless he listens to our show today and he thinks it's a piece of you know what and he reneges on that. But we'll see.
Let's do this. And by the way, his show, we, we talk about him all the time.
There's really only two radio shows you need to hear every week. No matter what you think, you're wrong. You need to hear two shows. You need to hear our show every Saturday on 960. The Patriot at 5 in the morning and noon. And you need to hear Joe's show.
So he is, he is on 10.10am, a Salem sister station, and it's called the Patriot Radio News Hour. I promise you it is not a waste of your time. So let's get right into it. You know, this show is about current events and how they're going to affect your future. It's never, it's never been an hour long infomercial. You know, we don't give you all that crap about if you're the next 10 callers, your appointment's free. Oh, yeah, but what if I'm number 12? Well, then it's $2,000. You don't have to have saved up $500,000 or a million. If you have $5,000, you will be just as important to us as if you have 500 million. I give you my word to that. We did have a guy in the office this week, young man, I won't say his name, but we had a guy in the office and he actually said, he said that he's, he's kind of like. He feels like he's wasting our time. He doesn't have enough money with us. And I, and I tried to reiterate how it's, it's all important if it's important to him, if it's his money. I promise you. I mean, we treat everything the same. Things are a matter of principle more than they are a matter of amounts. And there's a lot of people that do what we do that they, they don't see it the same way. You know, they're spending money for demographics lists. You know, they don't want to see you unless you're jacked to come see them. Yep. Quotas, minimum pressures. It's kind of a slimy industry. And we try to buck that trend. So we, we. And you know what? One thing we don't do a great job with, and sometimes the one and only Sam Davis and I talk about afterwards, we need to ask you to help us. We need you to please share us. We need your help. We are a small family practice, so. And we don't do dinner seminars. If we ever do a dinner seminar, it's going to be a seminar on why you should never attend a dinner seminar. So we want you to share us. Share our radio show. See if you can get some people listening to us that want to hear something different. Share the fact that we want to sit down with people. We want to be a second opinion. We want to help you One person, one couple, one family at a time. Share the YouTube channel. It's fun. I mean, once in a while, I look at some of the stuff that Shelby's putting up there, and I'm like, this is good stuff. So, yeah, please don't keep us a secret or however they say that. Tell them Anthony sent you. I love that when the commercials are like, tell them I sent you. Okay, let's. Let's start getting into it. Couple of things. One, yesterday, I'm driving and I hear a commercial for aps.
Not familiar with aps. It is either Adult Protective Services or, in the case that I'm going to reference, it's Arizona Public. What is it Service? It's the utility company. There's only two main utility companies in Phoenix, SRP and aps. So you're probably on one of them. Can you switch to the other one? Can I say, I've had enough of aps. I'm going to go to srp. No, you cannot. So wherever you live dictates who you're going to get your power from. And so, A.
I don't want to hear a commercial. I want you to use my monthly money through EFTs, and I want you to bring my rate down. I don't want to hear that you exist. The second thing, and I've heard you advertise before. I've seen it in print ads. So I'm listening to this ad. All right. Right away, I'm just like, oh, you don't need to advertise. I have no choice. I'm with you. Don't worry. I'm a loyal customer. And then they say you should look at your bill because they show you what plan. There's like five different rate plans, and they say you should look at your bill and it'll say what rate plan you'd be best on. So if you need to switch, it's free. You can switch rate plans. What the abs. Do me a favor. Make one rate plan and make it as affordable as you can for the general public. Don't make me have an electrical engineering degree to figure out my bill and figure out what saves me the most money from seven at night until seven in the morning or whatever games you're playing. And I got another question for you, aps. I should say allegedly every two seconds because I. I will be sued by aps. I'm sure, after this. I have another question for you as I keep going. So I allegedly have another question for you. Let's say we all switch. Let's say Everybody that has APS looks at their bill and they're like, oh, I'd be better off in this shining star plan. And we all switch.
I know what you're going to do. You're going to raise the rates. Because if, if we all save money and you need a certain amount of profit, you're just going to raise the rates. So as soon as you come out on the air and you give a commercial saying, we have one rate plan, it's the best for you, you're good to go. And we promise you we're not going to raise rates unless we have to. Then I'm back in. All right, so I wanted to get that off my chest. Guess where I was coming from, Anthony, when I heard the commercial from aps, I was leaving the bank.
Do you. You haven't heard about this yet because this just happened late yesterday afternoon. Yeah. So I'm leaving the bank, and I won't mention the name of the bank because I still really like this bank. So obviously, you know, it's not Wells Chase or B of A, and it's not the granddaddy in my little bitter butt hurt world. It's not pnc. So I'm leaving the bank. That I like. Well, do you remember about three weeks ago, I told a story about having to get a PIN sent to my cell phone while I'm at the teller window in the branch of. This happened again, same teller. So I, I'm. I. There's nobody in line. I, I walk in, and she's the first. There's two. She's the first one that says, may I help you? And I'm like, oh, man. And I. And I wanted, I didn't know how to do it. I wanted to just say, I'll wait. I'm going to wait for her. But I walked up to the window. So the same thing happens. When it happened a few weeks ago, the check was drawn. I think it was Wells Fargo. I believe it was. And it was from the Arizona lottery. You know, I'm a lottery winner, so if, if anybody wants to be my friend now, I did win $2,000 on the pick. So anyway, so that check was for $2,000, and she had my ID. I know my face is up on her screen because they have databases. And then she made me take out my cell phone and send me a pin. And then it happened yesterday for a check for $1,000. And I. So I'm like. And I. Right away, Anthony, you were right. I mean, right away, I escalate things. I really thought of you when I did this yesterday. I start in on her a little bit, and I'm like. I'm like, so. Oh, so we have to do this again. And, you know, that's not the way to approach this. I understand that I should just be, you know, gentle, but I can't help myself. So I said, what's the deal with this? I said, it's never happened to me before. And now it's happened with you twice. It was you a few weeks ago. It's you again. And I said, what's the amount of the check that triggers me having to take my cell phone out of its little cradle while I'm with you? She said, $500. Oh, $500. So now at least I know what to expect. So next week, I'm going to bring in. I'm going to bring in five $200 checks and see how this goes. So, anyway, so $500. And I said, do all the tellers do this? And she says, I don't know. And the reason I asked that, because I had been to another branch in between visits, the branch that I'm in more regularly, and I guess they know me. They've never done that. So now next time I go in there, I have to ask about this new practice that the bank has. But anyway, I said, do the other tellers do it? She doesn't know. And then wait to hear this. She said. She said, I hope something to the effect of. I'm paraphrasing. I hope they do it because we get points. And I said, what do you mean? And she said that. She said that there's an incentive for them to beef up their security. And she's getting points whenever she has to send a text number. I was like, holy crap.
So now my bank is incentivizing tellers to give me a hassle and make an easy transaction take longer.
[00:09:24] Speaker B: Really? That's interesting.
[00:09:26] Speaker C: Correct. And I took notes right away when I got home, so I'd remember to bring it up today. Not that I would forget, because it got me, you know, going, all right, you're right.
[00:09:34] Speaker B: You should be upset. And I'm upset for you. I'm Team JR this time.
[00:09:38] Speaker C: Thank you. And I want to take you with me. I'm going to take you with me when I go to that particular branch, and I'm going to make sure I get that teller. And just. I want you to see it. I'm going to ask her questions in front of you because I know this stuff never seems to happen to You. It's always me.
[00:09:51] Speaker B: So I'm likable.
[00:09:53] Speaker C: What is it, George?
Not you, it's me. Now, you should.
[00:09:57] Speaker B: If you get her again, though, just go in and be like, now, I don't care about your points. You don't need to do this. You're just giving me a hassle.
[00:10:04] Speaker C: And. And she knows me already after two visits. Because as soon as I said, you did this to me, as soon as I got her, you know, as soon as I get going, people put their heels down. I mean, nobody wants to be, you know, confrontational with somebody. So right away, she. And so now she sees me again, she's gonna be like, oh, man. We're gonna look at each other like, oh, man, here we go again. So we'll see what happened. But, you know, I did escalate a little quicker than I meant to. Instead of just calmly asking those questions, I was like, you know, why?
So. And I did. I mean, how it ended was I said that I just. I don't like going into a bank that I've been with for years and feeling like I'm doing something wrong. It's my money. I understand that. If I ask for $5,000 or 10,000 or whatever the government makes, you ask me questions, what are you going to do with it?
But for a check for two grand, and then a few weeks later, a check for 1,000, and you're going to ask me questions and you're going to see my ID and you're. And you're going to make me get a pin.
What is it? Authentication pin. For my own safety. I'm not buying it. I don't like it. I'm not buying it, and something's wrong. So I'm going to go into the branch I normally go to and I'm going to ask them some questions. And then next time I go to this branch, I'm going to bring with you with me, and we'll see how it goes.
All right? So I'll move on. I mean, I know my little third world problems are not. Are not major in light of everything going on in the world, but it's just the little annoyances I experience.
That coupled with my Napoleon complex, makes it easy for me to worry about everything.
Yesterday. Let's get on to just fast and furious with what's going on. Yesterday was the big Fed meeting. I'm sure Anthony and Sam, you guys know what happened. You know what happened, like usual, Absolutely nothing. It was baked in the cake. We all knew that. The odds were 97% they wouldn't lower interest rates.
They are so feckless and so worthless. Jerome Powell accidentally kind of said the quiet part out loud. Though he did say that the economy is in trouble. So if you go back and you read the minutes or you listen to it, it's kind of funny. He backtracked and he said, we're on track. He said, like, we're in trouble. And then he said, like, we're on track to be in trouble. I'm paraphrasing, but it was interesting. I just heard a couple of the highlights. I don't waste my time anymore listening to that and too busy listening to APS commercials and going to the bank. So with the Fed meeting, I guess we can move on. India and Pakistan, two nuclear superpowers, are fighting. So I'm hoping that leads to nothing. I mean, you know, when you look at the Fed meeting, that's like a one to me. On a scale of 1 to 10 on could a black swan occur? You know, could the economy change? Could the country go to a central bank, digital currency? None of that matters. Pakistan and India is huge, because guess what, we're already. We've got the Trump administration, you know, putting in their. Their commentary on, you know, we want peace. Our country always seems to get involved when there is a potential war around the world and we need to take care of our own affairs right now, I think. But anyway, so that, that could grow legs, you know, I mean, today, as we record, is the 8th of May. So you're listening to this on the 9th or 10th or 11th or whatever of May. So we'll see how it plays out.
But I will tell you, if there are any nukes deployed that is going to rattle your stock market, most likely. Do I have a crucible? I do not. But do I think that could be a game changer? Yes. And that would be somewhat of the definition of a black swan, because we're watching China going into Taiwan. We're always watching North Korea being foolish, rattling swords. We're watching Ukraine and Russia still. And then all of a sudden, India and Pakistan, it's like that. Oh, boy. So that. That could get interesting and it could be nothing. I guess we'll see by next week. So China and the U.S. speaking of geopolitical stuff, China and the U.S. are meeting in Switzerland. So Geneva, Switzerland, this weekend to hammer out a tariff agreement. Hopefully. We, we probably need to, as Anthony does all the time, hope and pray that there's some sort of movement here.
Because when I said a few weeks ago, a month ago. Whatever. I'm like, this terrorist stuff. I don't give a crap about all the different countries. I don't care about Taiwan. And we do have a little story about Taiwan if we have time to get to it. I don't care. What I care about is China, because that's the big player, A, with US and B, on the globe. So we need to. We need to see what happens with tariffs with China. And they're meeting in. I like Switzerland, because isn't Switzerland known for being neutral? So I love that hopefully we don't fight, and I'm gonna segue that right into something else. I've been kind of keeping my eye on stuff. Cargo ships are half full, cargo ships are empty. They're not coming. There's a lot that we have a very likely, like, more than 50, more than 50 chance of having some shelves start, you know, getting a little bit scarce in the next few weeks. So I, I. The timing is very good for this meeting, and I just hope good news comes out of it. You know, when you hear me every week and you think, jr, you can't wait for this, you know what? To the fan, that is not true at all. I just want to make sure if you're listening to us, you are awake and aware of all the things going on around you. I do not want Pakistan and India to send off a nuke. I do not want empty shelves even. What happened in, what it was it, five years ago, March 2020, if people couldn't get toilet paper, Clorox wipes, hand sanitizers, and they panicked. If that happens with food, that's my number one concern. Food, medicine, and of course, all our meds are made in China. If that happens with food and medicine, it ain't going to be pretty. So, no, I do not want it to happen. But we'll see what happens this weekend with that meeting.
What else? Pope. There's a new Pope, so I'm kind of excited. He's a native of Chicago, Illinois, so this will be our very first Pope that wears a bulletproof vest in the Pope mobile. So I'm excited. He's from Chicago, but he's a American Peruvian. He lived in Peru, and this just happened, I don't know, like an hour ago. They announced it. So I'm looking forward to digging into our new Pope, Robert Prevost. It's the easiest Pope name we've had to say in a while. I guess Francis wasn't too hard to say. But anyway, so we're going to call him Pope. Bob Pope. Robert Prevost is our new Pope. So if you're Catholic, that's big news. It happened very quickly. When they go into the conclave, it's, it's usually, it's not. It's a lengthy process. Will there be white smoke? Will there be black smoke, meaning no poke? Or will Trump be pope and there'll be orange smoke? This one went kind of quick.
So apparently, and I start digging in this morning, I start digging into who is the front runner for Pope, and it wasn't Robert Prevost. It was Pietro Parolin. And then it was next to. That was Luis Antonio Tegel. So it was other people that were likely to win. And I.
[00:16:40] Speaker B: Could you bet on this with DraftKings?
[00:16:42] Speaker C: Was this.
It was going to go that way. Last weekend was a Kentucky Derby. This weekend was the Pope Derby. Yes. There were people betting on the odds. And you know who was the. Who didn't show up in the odds? Favorites? Robert Prevost. So just like Vegas, just like, you know, the UFC and the Kentucky Derby, you know, people lost money on the Pope. The irony, the head of the Catholic Church and there's people gambling on it. I wonder if they were, like, drinking and smoking while they were in the little sports book betting on the Pope. So, yeah, yeah, I hope so, too, because life is short. So. And you know what? I'm a conservative financial advisor in Sun City, Arizona, and I love the thought that people gamble. You think, Anthony, I'm always like, I'm always mad and I can't enjoy life. I don't know. I mean, did I tell you I went to a bank with a $2,000 check from the Pick? I like to gamble. I did like to drink. I guess I got to quit. I drank too much on Sunday. So I'm still in trouble around the house. So I gotta. I gotta take a break from that for a while.
Are you glad you're getting a lot of my personal life today, if you're listening.
So let's do this. Some other stuff going on. We have a new Pope. That's great. Bankruptcies.
If you're watching the news, bankruptcies are going up quickly. Apparently there's like a. Right now we're at 9% business bankruptcy. This morning I read more about Krispy Kreme, which isn't a shock. They've filed bankruptcy before and then restructured. Popeyes chickens in trouble. We keep telling you that. You know, they say the economy strong, the unemployment numbers came out right around what they thought they were a little bit higher than they thought they were, which hurts the odds of lowering interest rates, by the way. But so, yeah, bankruptcy is going up. What shocked me was reading that there's a 16% increase year to date in personal bankruptcy. So, yeah, okay, keep telling me everything's okay. You know, Anthony, you talk about the disconnect between the stock market and the economy and the stock market, in reality, you ain't kidding. You know, as we record again on the 8th of May, the Dow Jones, the Teflon Dow that just can't ever fall, is up like 600 points. When we start recording the show today, I'm like, you got to be kidding me. What changed from two weeks ago to now? And all of a sudden we had like a 10 trading session day in a row. Upswing. That set a record.
Yeah, it's. It's all baloney, kids. So me personally, I believe in moderation and diversification. I believe in having safety to hedge your bet against your growth. I believe in certain things that seem smart. If you ever want to hear about those things and how they could apply to your own personal situation, sit down with me or sit down with Anthony or sit down with both. Sit down with Macy. If you're in the Atlanta, Georgia area, sit down with Sam Davis. He's licensed, he's a financial dude, and he's smart. Anthony and Sam are smart.
I am in the office too, though, so if you want to meet me, you can. So, you know, and student loans, apparently that's back on the table. So when I'm talking about Popeyes being in trouble. So there's going to be a whole bunch of families. It just started this week. Just started this week, May 5th. We had about a four year reprieve from paying your student loans under Biden's administration. And now that's back and they are not playing around. I read the little. The. I read a couple things about it. They're going to garnish wages. They're going to take your tax return.
They're going to be serious about getting your student loan money back. And I have always kind of felt, and I know Anthony and I fought about this years ago. You know, Anthony's right. They're predatory loans. They're horrible. I'm looking at what's going on in college campuses this morning. Oh, my gosh. Would you really ever send your kid to Harvard or Yale or any of these Ivy League schools? I mean, they're rioting. It's like, this is insane. The stuff with Hamas and Israel. Oh, I forgot to mention that when I Talk about geopolitical. That's not over either yet, by the way. So. But what happened to this country if you took out a loan? Let's say your parents encourage you to take out a student loan because you're too young, you didn't understand it. Then your parents, you help them pay it back. But you took out the loan. You went to school. Whether you got a degree or not is probably inconsequential, except to you. But pay it back. You know, when I hear commercials, not just for APS, when I hear commercials, do you have $10,000 or more in credit card debt? Do you have $10,000 more in IRS debt? Call us. We'll help you settle it. We'll help you restructure it. We're going to tank your FICO score. Oh, by the way, the student loan debt, if you are caught up in this right now and you owe student loan debt, at least make your minimum payments because your FICO score is going to be affected by this. Just, you know, it's not like medical debt or certain kinds of debt that are immune. So. And if you ever want to buy another car or a cell phone or a house or anything, you might want to protect that FICO score. But anyway, so you owe $10,000 more dead. Call us and we'll get you out of it.
I have a question. Did you put the stuff on the credit card? Yes. Pay it back. Do not call that number. Do the right thing if it takes you 20 years. I realize how high the interest rates are. They're over 20% average. I get that. It just doesn't matter what happened to this country that there's no accountability. You know, Anthony, you're right. They're predatory loans. What happened that school got so expensive? The whole country's foundation has changed and not for the better. But I still say if you took out a student loan, pay it back. If you have IRS debt, they take payments, pay it back. If you have credit card debt, pay it back. So that's me being get off my lawnish.
What else is going on? So annuity rescue. Let's switch to financial for just a quick second because I have articles that are really, really important today. So I'm trying to blow through my general outline information. Annuity rescue. I heard a commercial last weekend from a financial firm here in the local Phoenix area about annuity rescue. We Anthony mainly has been doing this for years. If you were caught up in the roughly 15 year window of no interest rates to be had your CDs, five year CD if you were lucky, got 1%, your one year CD got a tenth of a percent. Well, the same thing happened with fixed annuities. If you had, you know, a fixed annuity and the rates were low when you bought it, that's when they buy the rates. So it's stayed low. So if you have one that has a surrender charge, Anthony shows you, he, he calls the company with you, he does whatever he needs to to show you. You, you might have access to 10% with no charge. You might be able to do better even with a backside charge to move it into a newer one with better rates. So I just, I, the annuity rescue, now that's the buzzword and I want you to know we've been doing that for years in our office. We, we always want to maximize your safety, your returns. I mean, we understand all that. So if you heard a commercial and they say something about annuity rescue and it piques your interest, we know about it too. Give us a call if you want a family practice instead of a bigger firm.
Moving on, we are getting closer to breakdown. So I'm going to bring something up.
Not a great, not a great thing to bring up, but I'm like a child, only shorter. So last week and people, by the way, Anthony, love it when we go back and forth a little bit.
So we, we went back and forth a little bit about an article I read that talked about Texas having a bill 3, 6, 6 HB 366 and it hasn't passed the Senate yet, it passed the House. So it's not a done deal yet. But right away when I read articles and I had printed off three, now I have gathered six and I, and I said to you, I mean stuff like that, if you encroach on the first amendment that bothers me. So I want to know more about it. And you were like, yeah, but it only applies to politicians. And you know, I mean we both read the actual bill. I have questions. There's a subset B on the first page of the bill, but not an A. It's only a two page bill. We'll send it to you if you want to read it. Or just look up Senate Bill 366 out of House bill out of Texas.
So part of my poor problem with this thing, it says an office holder candidate or political committee. So your point was only those people have to worry about this. But then it continues makes expenditures during a reporting period in the aggregate to exceed $100 for political advertising. If I do a meme, Anthony, if I If I go on Facebook and I do a political meme, it's AOC with a lettuce head or something. Thank you, Ken Kevin, for that reference. If I put a political meme, so no problem. I'm a private citizen, right Anthony? So I don't have to worry about it. I'm not going to be swept up and a year in jail and a $4,000 fine. The problem. What if I boost that post? You can pay Facebook to get a wider reach for you. Most people know that by now. A lot of people ignore it, but it's there. So you can boost your post and you can pay to do that. Then I just became in this law, so it could ensnare me.
[00:25:34] Speaker B: We do still not an office holder, candidate or political committee.
[00:25:39] Speaker C: Once I spend $100 to boost that post, I've got it in six different articles ready for you. I'll send them all to you. I have six different people during a.
[00:25:47] Speaker B: Reporting period that is aggregate exceeding a hundred dollars for political advertising other than expense to cover basic cost of hardware messing software. Okay, yeah.
Articles from people that are reading it and making up their own interpretation.
[00:26:03] Speaker C: Well, that's all we can do at this point. The bill, when the bill passes, you know, Nancy will have.
[00:26:07] Speaker B: That doesn't mean any of them are right.
[00:26:09] Speaker C: Well, and read number three. Continue. It says here publishes, distributes or broadcasts.
[00:26:15] Speaker B: You're still not an office holder, candidate or political committee.
[00:26:20] Speaker C: I have made myself one. The minute I boost that post, the minute I get involved in politics as a private citizen and I spend $100. You are absolutely incorrect on that. I became in that fray. And let's do this for a second. I can read a little clip from all six articles. I don't think I need to actually. I'll read.
I mean there's so much here. Anthony, let me read from the actual bill.
[00:26:43] Speaker B: I don't care about other people.
[00:26:45] Speaker C: I've read it like 10 times now because I want to fight with you. So believe me, I keep reading it. People love when we bicker. People, even some people want to know if we're going to make it, if we're going to stay together. And the answer to that is absolutely not.
[00:26:58] Speaker B: With intent to influence an election knowingly cause to be published, distributed or broadcast political advertising. So again, you posting a meme is not political advertisement. And you're none of these people that include an image, audio recording or video recording of an office holder or candidate's appearance, speech or conduct that did not occur in reality. Okay?
[00:27:21] Speaker C: So you gotta take A break. We gotta take a break. Let's. Let's fight a little more on the way back and then we got to get to important stuff. But I want to address what you just said, so do this.
Reach out to us at 623-523-0444 and we will share all this stuff with you and will be a second opinion if you wish. We're also@team another money show.com and we would love to hang out with you. Thank you so much for taking time out of your weekend to be with us. We greatly appreciate it. We'll be right back.
[00:27:50] Speaker A: This is another Money show, except this one's different. This one's actually fun.
Remember, all of Junior and Anthony's listeners receive a free financial consultation just for listening to the show. Visit anothermoneyshow.com to learn more and schedule an appointment. Thanks for listening to Another Money show and subscribing wherever you listen to podcasts.
[00:28:14] Speaker C: Welcome back to Another Money Show. Thank you so much for being at Anthony and my last episode together. So we will. I'm certain we'll continue this fight off there and split up. And I mean, if you're new with us. I'm just kidding. We. We like, we see things differently. I mean, I'm. I'm what, almost 30 years older? You know, we come from different backgrounds and we see things differently. I don't think there's anything wrong with that. I think if anything, we help each other by letting each other know that.
[00:28:38] Speaker B: Well, we could help each other if you would ever listen.
[00:28:40] Speaker C: I'm not gonna. I didn't even hear what you just said. Now, I don't exactly. I mean, that whole thing. You've got two ears and one mouth and I don't care. Not when I'm talking to you anyway. So.
[00:28:49] Speaker B: Collins. Well, do I have two years and a heart?
[00:28:52] Speaker C: So I'm going to. After the show today, I'm going to send you the new articles. And I also turned all this over to Kevin, so I can't wait to hear. I want to hear Kevin's stuff because, like, I'm not smart. I admit that.
[00:29:01] Speaker B: No, I believe the First Amendment and I know it's a slippery slope, but you got it. The whole thing is you can't. If you're a politician and I'm running against you, I can't make a video that says, I. My name is J.R. rochford, and I support terrorism and I hate the America and everything. And. And then I can say, my name is Anthony Crayo and I approve this message of this video of Junior being a terrorist. Right. That's what it's saying.
[00:29:29] Speaker C: I agree. What I'm. What I'm. My problem is the overreach here. Well, I have two problems.
[00:29:34] Speaker B: One in overreach, you think in political ads I can say that you said, Stu. That you've never said. I can make a deep fake video. I can get on chat GPT and I've got a picture of you looking like you do now in front of this microphone so it looks official and my name is JR And I support Al Qaeda. And then I say that this is my political advertising. You're saying that. That. That's fine.
[00:29:57] Speaker C: I hate to say this to you, Anthony. I mean, I hate to say this because what you just said sounds so logical. You're 100% wrong. You know, let me. Let me actually.
[00:30:05] Speaker B: Free speech, though. No, no, no. Free speech is saying that I can go against the government. And I read that.
[00:30:11] Speaker C: Can I read.
[00:30:12] Speaker B: You know, I hate. I hate Trump, I hate Kamal Harris. I hate all these people. And they're not going to put me in a van.
[00:30:17] Speaker C: And may I read. I hate to say this to you. What you're saying is wrong. Free speech is protected, even if you don't like it. If I say I love the fact.
[00:30:23] Speaker B: It'S not about liking it, it's about out, it's advertising, a lie. I can't.
[00:30:28] Speaker C: I read the First Amendment to you. Let me. I'm going to read it verbatim. I'm not going to paraphrase amendment number one.
Congress shall make no law respecting an establishment of religion or prohibiting the free exercise thereof. There's your religion. Let's get on to free speech or abridging the freedom of speech or of the press or the right of the people to peaceably assemble and to petition the government for a redress of grievances. What you're saying would be so wrong if I did a AI thing saying I'm you and that I want to overthrow the government and I approve this message. It's so wrong. It is protected by the First Amendment. It is free speech.
[00:31:10] Speaker B: That's not free speech.
[00:31:12] Speaker C: All right, let me give you a real life example of something that happened in this country recently. This is one of the articles I'm going to send you afterwards. This is from news target.
On the 1st of May, Texas House passes bill threatening jail time for memes. Let me read you just a hair of this. The Texas House passed HB 366 which criminalizes sharing altered media, for example, memes. It says images in the bill. So it is memes. Deep fakes of politicians without a government mandated disclaimer. The First Amendment doesn't say you can have a government mandated disclaimer if it's a deep fake.
[00:31:48] Speaker B: It just doesn't say that is an official political ad.
[00:31:51] Speaker C: Let me continue. I didn't read in the First Amendment where it said you can have free speech except if it's in an official political ad. But continuing. So while supporters claim the bill combats election misinformation. That's you. Critics argue its broad wording. That's me. Could punish ordinary citizens for sharing satrical satire content. Chilling free speech enforcement would fall to the Texas Ethics Committee. That's my second heartburn. Who are they to judge what they think is a deep fake and all this stuff? I guess they're qualified.
Raising concerns about government overreach. That's me. Opponents liken the bill to censorship in regimes like the United Kingdom. This is where they started, where people are prosecuted for offensive posts. Legal experts, including First Amendment attorneys, argue the measure is unconstitutional and could criminalize parody. Definitely. One more thing. The bill's passage recalls the prosecution of Douglas Mackey. Does that name ring a bell to you, Anthony? This happened in this country not too long ago. Jailed for a Satire 2016 meme about voting, critics warn HB 366 could similarly weaponize the law against dissent under the guise of election integrity. I want to see where this Mackie thing is. The controversy echoes the case of Douglas Mackey, who was convicted of election interference for satric. Why am I having so much trouble with this word? Satirical.
[00:33:20] Speaker B: Satirical.
[00:33:20] Speaker C: Satirical. Thank you. Satirical 2016 post suggesting that supporters of former first lady Hillary Clinton could vote by text. Mackey was sentenced to seven months in prison.
Became a symbol of government overreach, with critics arguing his prosecution set a dangerous precedent.
So there is a real life example of our government saying, you can't make jokes about Hillary.
No, I just. And Anthony, we are both right. That's what's so funny. Part of when we bicker. Both of our sards are right. I'm just telling you we are in the infancy stages in this country of being England.
I mean, there's Islamic camps in every 50 state.
Some of the people are talking about what they want to do is do this with politicians so they can get to a point where it gets wider. And it says, you can't make fun of Islam. You can't make fun of things like that.
You know, I mean, if for you, that's probably a tremendous stretch for me. It's like, no, of course we're going that way. When, when you have open borders for four years, when you have a bunch of people that, that don't like how you live, that this can grow legs and become a problem. I want it to stop before it starts. And nothing we talk about is going to, in my mind, supersede what I read to you. That abridging the freedom of speech or of the press or the right of the people to peace, Buddhism, that. That comes first. We are not following our Constitution. We haven't in decades. It's getting worse and worse. We need to go back to smaller government. We need to go back to protecting the Constitution or we're going to be in deep. You know what? And that's what I think this is about. I do want to send you the six articles. I mean, I know we have to move on. I'm admitting that I believe we're both right. I just always think I'm more right than you.
So moving on. I'm glad that. And what's funny, I don't. I mean, I'm not mad at you. I mean, I don't think you have seen what I've seen, and I don't think you can see what I think is coming. And I've said it for three years. I'm not worried about me. I'm worried about Nick and Jay and you and the one and only Sam Davis. I'm worried about the future with Medicare, Medicaid, Social Security, politics, healthcare, borders, freedom of speech, everything under the sun. I mean, I didn't like it when I first heard that you could not yell fire in a crowded movie theater. I'm like, well, you can, but somebody needs to punch you in the face, but you can. It's protected under free speech. I can say whatever I want, even if you don't like it. But our government, where you can say.
[00:35:46] Speaker B: Speeches in to talk against the government. Free speech doesn't mean you can just say whatever you want. Doesn't mean you can yell fire.
[00:35:53] Speaker C: You want me to read it again?
Where, where in the First Amendment does it say I can't say fire? Oh, man, I just got to start it again and I've got articles to get to. But no, I mean, fire in the movie theater is dumb and I think that they should escort you out and whatever and, you know, hit you with a noodle. But I mean, I'm sorry, you're. You're able to say whatever you want. You're able to Slam whatever politicians you want. And I just the gray area between being funny and being, you know, criminal. I think it's a very slippery slope.
Moving on, let's get to a couple miscellaneous articles just because people need to look into them if they wish. And then we're going to get to kind of an important one today.
Here is three different articles. My newest thing, I have to print out at least three different articles on every subject in case Anthony can test me with it. Then I have three different opinions back in mine up if I agree with it. So here's one from the independent sentinel. On 13 April of this year, Food Bank CEO made 721,000 while people went hungry, the CEO of a Minnesota food bank was making 721,000 a year at this nonprofit. Meanwhile, one in five households in Minnesota don't have enough food. Her salary spiked from 2020 to 2022. When she heard she was under investigation, she stepped down. Not suspicious at all. By the way, she's still at her post until June. These nonprofits and NGOs made a killing off of tax dollars. Getting outrageous salaries was part of the corruption in many cases.
A second article that's a little more in depth is from Alpha news on 10 April.
Food bank board member defends CEOs 721k in annual pay There's a board member that is saying it's okay when you if you look up that article on Alpha News, he backtracks. In the very short article he says here o' Toole announced her resignation last month and will officially step down in June, according to the statement.
Bum, bum, bum. No, that's not the one. Anyway, he said it was perfectly fine because she brought so much expertise and she helped him so much. If people are going hungry, you know, sometimes things are about the optics of it. I don't think it's okay that she was making three quarters of a million dollars. I think she should have voluntarily gone down to a reasonable salary.
Anyway. Let's see here. At the helm of Second, if you want to look it up and reach out to these people and let them know what you think.
At the helm of Second Harvest Heartland, the largest food bank in Minnesota, the pay scale for executives is eye popping. CEO Allison O' Toole Tacoma staggering. O' Toole Tacoma staggering 721,000 in total compensation in 2022. But it doesn't end there. The chief financial officer, that's probably something that knows about finances, earned 396,000. The chief operating officer, the old coup earned 371,000. The chief development officer, the CDO, pocketed 347,000. While these roles undoubtedly require skill and expertise, it's hard to ignore the glaring contrast between such lavish salaries and the rising number of families turning to food banks to survive.
One thought from the people. How can we continue to donate to causes like this when it seems like the money is being funneled into the pockets of those top instead of directly benefiting those in needs? That's kind of where I am. Is anyone surprised that this CEO Allison O' Toole, who makes 721,000 a year, used to work for Democrat Amy Klobuchar prior to becoming the CEO of Second Harvest? That's part of what caught my eye when I say that this country is corrupt. These people were getting tax dollars to supplement their, their system.
When you have politicians that go into non profits, you have to look at that stuff. And I, and I know she was probably very talented. She made the donations skyrocket. I don't care. I just look at like if you're making seven and look at those salaries combined, so how much food would those millions buy? So I guess I won't get to the third article for that because who cares? But it's just staggering to me that there's such corruption in this country.
Let's get to a few more articles quickly. Here's one from the straight times on 5, 6, 25 US dollars fall in Asia stuns investors and spreads globally.
Says here New York. The US Dollar received a fresh jolt this week as speculation around potential trade deals sparked an extraordinary spike in Taiwan's currency. If you watched Taiwan this past week, it was very noticeable that there were changes coming. Oh, I forgot to get to one more breaking news from this morning.
You know, there's been a big announcement. Trump said he was going to come out with, hopefully this isn't it. Hopefully there's something bigger still to come this week. But a trade deal was made with England.
The UK and the US made a trade deal. And to me it's such a nothing burger. I probably shouldn't even bring it up. You know, we're going to continue like a 10 trade. They're going to give us aluminum. I mean, when I read this, I was like, who cares? I want to get to China.
Then I'll know if we're gonna have problems with the future, if we're gonna have a trade war, if we're gonna have empty shelves, if we're gonna be able to get our medicines. That's what I care about, don't care about Taiwan, I don't care about the UK anyway, I don't care about Taiwan. But let me get to. Back to Taiwan. So the past two day sharp moves in the Taiwan dollar subsided on May 6. But Hong Kong's de facto central bank intervened. Did you hear that? Hong Kong's de facto central bank intervened. No kidding.
To stop local currency from strengthening. And China's renminbi jumped in its return from the extended break. The Taiwanese dollar on May 5 surged to a three year high of 29.59 per US dollar having leapt 8% in two days in a move that coincided with the end of the US Taiwan trade talks in Washington.
Why do I bring this up? Why did I print this and have it handy? Because I've been telling you. Anthony's take on the demise of our world reserve currency and our dollar, our fiat currency, is that it can go on forever. My take is that it cannot. Even if we keep kicking the can on.36 trillion in debt and no money in the banks and all the stuff we're doing, a manipulated stock market. The rest of the world is getting. They're wrapping a noose around our neck. The rest of the world is going to start trading with their own currencies. The BRICs are working on a central currency. We talked about China and Russia and how they're doing their own thing. It's coming.
I hope we're still on the radio show when it gets here so we can kind of tell you, you know, we gave you three years to be prepared. Pay down debt, buy hard assets, put some extra food and water away. We're not normal financial planners. We're a little more well rounded who breathe JR so here's something on May 2nd from the Washington Post.
Think the trade war with China hurts now. Just wait. This is opinion, this is speculation. I get that. This is from May 2nd. Let's step back for a moment and recognize where we are right now. The United States has launched a trade war with the world's second largest economy, China. Together the two account for almost 45% of global output and more than 20% of global trade.
And it has entered a battle with remarkably little planning or forethought, we presume. Do we have a sense of where this growing tension will lead? It would be easy to blame the Trump administration for shooting first and thinking later. More than 80% of all smartphones, 80% of all smartphones in imported by the United States come from China, as do 78% of all computer monitors. Can we find new suppliers for these in the next few months?
Meanwhile, China imports lots of oil, gas, soybeans and pork from the US which can easily be bought from other countries around the world. I highlighted a half of this article, but that's all I'm going to read. So if we're getting most of all of our cell phones and laptops and all this stuff from China and this thing goes south this weekend, for example, we have a problem.
When Trump said we're going to bring back manufacturing. We better fricking hurry. Have you ever noticed how people are attached to that cell phone? Me included. I'm not being a hypocrite. I am, too. I don't remember the last time I went into the bathroom. Like, you know, when I was a kid, you know, people made jokes. They called it the reading room or the library. And you had a magazine rack next to the toilet. Weird. Now it's all Facebook and Twitter and Instagram, man. If all of a sudden, in the next six months, you cannot get a new cell phone, think about that. Something so simple, a cell phone. It's not a phone, it's a computer. I watch what happens with these cell phones. Nobody's calling each other. We get very annoyed when the phone rings. Text me. I don't want to talk to you ever. I want you to text me. I want you to DM me, you know, so I'm just saying this is not over. And it. And it could get weird, it could get bad. And I want to make sure that you're awake and aware. So if things do start going south, first come, first serve. If the people that listen to another Money show on 9:60am, the Patriot, are first in line to get a new cell phone that's on the shelf right now because they need one in the next six months, then you might get one before and they might cost more. That might be another byproduct of what's going on, even if we don't have shortages.
So I bring all this up to make sure you know, if you're watching Last night, the Masked Singer was on. Good night. If you're watching the Masked Singer and not listen to the show, good for you, because you're not gonna have a heart attack. You're more peaceful. Everything's better in your life. But I'll tell you what you should do both. You should live for today and tomorrow. You should be prepared, not scared. You should be proactive, not reactive. And this tariff stuff is still frightening. We just. We have the attention span in this country of a flea once, once we talk about tariffs on the off, it's like people are tired of it. They're tired of, of Israel and Hamas. When's the last time you heard about it? They're tired of Russia and Ukraine. It's out of the news. We're going to replace it with Indian Pakistan. We're going to replace it today with a new pope with a big pope hat, with the bulletproof vest because he's from Chicago. So a couple more funny things and then we're going to get to the important thing.
Zero Hedge this is an article. I just found it funny.
Zero Hedge from March 28th in hot water.
Yeti Bars Conservative Group from Customizing Cups Yeti, if you're listening, first of all, YETI was known for being like Cabela's YETI was known for being like a conservative fan favorite. So when I saw this, I said, what? And a who cares? Versus the last article when you might not be able to get a cell phone in 6 months to Yeti who cares? Anyway, this is let's see here. Yeti is under fire this week after barring a conservative group from buying its product in a raw political stance. Claire Booth Claire booth, Loose Center Loose. It's spelled L U C E. Not making fun of anything. Claire booth, Loose center for conservative women previously said cups of previously had cups made with its logo, but YETI now says it was a mistake. YETI who are you to tell groups, even if they're loose women? CLAIRE booth, Loose women who are you to tell people they can't have their logo on a cup? Anthony the country's going to you know where. In a hand basket. You're too young to know that quote. So Kimberly Beg, the president, Sam wants to know, where are these loose conservative women?
I probably shouldn't say that. I shouldn't throw Sam under the bus. But Sam, you're producing for another Monday show. You have to expect that there's going to be comedy thrown in here. So Kimberly Begg, the president of the Northern Virginia based women's organization there's your answer there in Virginia, told Fox Business that YETI suddenly canceled its order for its signature sea foam mugs. After the order was placed and after they paid $1,608, she said that the use of the phrase conservative women was on the political aisle. A YETI spokesperson told FOX Business, starting with our first customized rambler drinkware in 2015, we've used our best efforts to create and adhere to a policy that prevents customizing products aligned with Any political affiliations or organizations in addition to content that could be considered obscene, vulgar, or profane.
They're violating the First Amendment, Anthony. They're saying you can't say obscene things and things about political parties on your cups. I say baloney. Anyway, yeti, good on you. Did you not learn anything from Bud Light?
So good on you. I'm gonna move these two articles out of my way because I don't want to run out of time. We do have some really, really, really important financial stuff to get to.
I was sent an email. It was forwarded to me. We're gonna. We're gonna call this guy Ron. We'll call him Ron from Sun City. I miss my buddy Michael C. From Sun City. Michael's been busy. He's gone through a lot, but he needs to start giving us more articles each week. So if you're listening, Michael, we need to start saying your name again.
Ron from Sun City. He is a retired federal employee, and this kind of shocked me. I. We only have about five minutes, so I'll try to paraphrase says here. Proposed federal benefits cuts. Understanding Congress's 2025 proposals.
What do I have to read? The proposed cuts would significantly impact both the fers. The FERS and the FEHB programs. That's the second one is the health program. In April 2025, Congress passed a budget resolution directing the House Oversight and Government Reform committee to cut $50 billion in mandatory spending. As the committee oversees federal workforce matters. These cuts would largely come from employee benefit programs. These proposals are part of a budget reconciliation process, which means changes could be implemented with just 51 Senate votes instead of the usual 60. So this. This is somewhat likely to go through at this point. It hasn't happened yet. So the part of the bottom line of this email he received was to reach out to your representatives right away.
Says here, while these proposals aren't yet law, they represent a serious threat to your benefits. Your engagement with the congressional representatives could help you shape the financial outcome. I don't know that will. We encourage you to stay informed and contact your congressional representatives if you oppose these cuts. Below is a summary of the key proposals on available information available as of April 17, 2025.
Increasing FERS contribution rates. So the retirement system for the federal employees, they're going to start making them pay more into it. Okay, that's happening everywhere.
Here's one that bothers me. Eliminating the FERS special retirement supplement proposal.
And this will apply to law enforcement officers, firefighters, air traffic controllers.
The one that really affects me and Anthony. And how we help people is number three, changing annuity calculations.
Base fers annuity calculations. On average of the highest five years, it's going to be on your highest five years. Currently, it's on three. It would reduce annuity payments. That's your pension, kids. The word annuity is synonymous with the word pension in most cases.
So they're, they're, what they're saying here is you are likely to get your pension cut. When I was talking to this man before he sent it to me, he was like, I, I mean, I retired young. I'm in my 60s. I have to make it to my 90s. Everything around me is costing more. I don't need them to cut my pension. Well, it looks like it might happen. Reforming or eliminating cost of living adjustments, they're going to, they're going to throttle back the colas. So, you know, we might have to, we might have to begin next week's show by going through this deeper because I just, I don't want to be rushed. And we only have a couple more minutes. But what, what's going on? Everybody that has a pension, including my wife, who's with the Arizona Retirement System, they talk about, my pension's guaranteed. I worked my entire life to get this pension. They can't cut it. They can't. Until they can. And this young man is getting a dose of this. It spells out how they're proposing to cut it. So if you feel like you're safe with a pension, let me tell you, when the pension guarantee fund is underwater, which it was when Anthony came to the office, when they're broke, they can do whatever they want. Well, the taxpayers voted and they guaranteed my pension. If you're a Phoenix firefighter, law officer, I'm telling you right now, if they don't have the money, they're going to have to have a new vote, and it might be without you. So I hate to rush through this article because it's really, really important, but if you are a federal retiree, you reach out to us right away and we'll send this to you. We'll scrub the client's name, but we'll send this to you. It is horrifying, and we need to get it to you quick because it hasn't passed yet. So it's on the table. But it looks like they're going to try to cut your pay, they're going to try to cut your health benefits, they're going to try to cut your cost of living adjustment increases, all at the same time. Usually we think they'll do one thing at a time? No, they're going to do all of them at once.
With that, with that. If I don't have a heart attack or stroke and Anthony, don't break up. I'm looking forward to next week. We're going to talk a little further about benefits and pensions.
[00:54:04] Speaker B: Anthony, if you remind me, finally something that actually can apply to people. Because we've said this about pensions in the past and now it's better to probably have one that you control. Control versus leaving it up to your state representatives. So anyways, that's it for today's show. If you like what you heard, you have questions about any of the topics today, especially how the First Amendment has nothing to do with YETI and only pertains to the ability to speak out against the government. Or you want to sit down with us to review your personal financial situation, you can reach us at teamothermoneyshow.com find us on the web anothermoneyshow.com give us a call 623-523-0444. The number again, 623-523-0444. Remember, there are no minimums. That one's really big in our office. No minimums to come see us. There's no cost for appointments. It's really nothing to lose by getting a second opinion on your financial situation. We'll see you again next Saturday right here on 960 the Patriot 5am and noon.
[00:55:07] Speaker A: Thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets. To schedule your free no obligation consultation, visit anothermoneyshow.com investment advisory services offered through Brookstone Capital Management LLC, BCM. A registered investment advisor. BCM and Rochford Financial are independent of each other insurance products and services. Services are not offered through BZM but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.
Fixed annuities, including multi year guaranteed rate annuities are not designed for short term investments and may be subject to restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.
