[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.
[00:00:18] Speaker B: 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 Correjo and JR Rochford.
[00:00:42] Speaker C: 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, fully independent fourth generation family office right here in Sun City to bring you information you may not find on those other financial shows. We're aware the last thing you need is another money show, but we appreciate you being here.
[00:01:04] Speaker D: So today I'm going to do something a little bit different than usual. And we've got our articles, we've got plenty to get to as always, but I'm gonna start a little bit on a somber note today. Recording on Thursday, 30 January. I'm sure you've heard about all this by now. You know the helicopter hitting a plane. So, and, and you know, a lot of times I snicker about stuff, I laugh at stuff, people, because it's the only thing that keeps me sane. I think the world's absolutely out of its mind. I think things are crazy and you better find a way to make light of it to a certain extent or you'll go crazy. Watching the videos, watching the helicopter go straight at the plane, my first thought was here we go again. I mean military. There's been a rash of military members that are being radicalized or disgruntled or something's going on. So 67 people have lost their lives over this little crash from Wednesday night. And it, it, I don't know why this one like got to me so strong. I started thinking about me. I started thinking about my family history. You know, I brought you a couple weeks ago that my mom died Suddenly in her mid-50s. My father had a 15 year battle with cancer. I've got a health condition that I've had for 17 years. Obviously if it's trying to kill me, it's not doing a very good job. But I think about how life is so fragile and how we don't know what's next. And I. And then it led me to thinking what we do for a living. What Anthony I do day in, day out trying to help people.
And I know this is a little bit of a stretch. 67 people. Did every single one have a will or a trust? Did every single one. And I know some of them were young, you know, I know, you know what we're looking at here. But did the families take care of each other? You know, we're in Phoenix, Arizona. I know at least in the summertime, you know, every weekend you can find a car wash because somebody didn't prepare, they didn't plan for their family. You know, we talk about generational wealth transfer via life insurance. You know what we don't talk a lot about, we also do, you know, burial policies. We also help people just to make sure in the toughest time of their life they have some help and support and don't need to pass a hat or have a GoFundMe account or a car wash. So anyway, I just, you know, the whole thing, what we do, Anthony, you know, I make fun of things that have been the show. What we do is really, really, really important. And I think being a family practice where you don't have the pressure and quotas to just sell, I think it's super important. I mean, I think what we're doing is important. I've, you know, I've been in the office almost three decades, so I've got the experience of seeing the psychology of the tech bubble bursting. A plane hitting a building. You know, the end of 07 through the beginning of March, you know, of 09, you have come in in a different generation. You grew up with, with computers and cell phones and you know, you, you grew up with NFTs and cryptocurrencies, artificial intelligence. You came into this industry after we implemented high speed, high frequency trading, computers, pot stocks, everything's changed. So a lot of people need a lot of help. And I just, I mean, get the help. Come to us, go to somebody, but, but get help. Make sure you have a will or trust. We don't do wills and trusts. We work with an attorney. We have a partner if you need a referral. But we can help you. Anthony wrote a blog during the COVID time when we were shut out of the office for a brief period on how to manage your own estate. If you can't go to a will to an attorney to get a will. So reach out to us. Let us help you. All right? That's all I got for that. I just I wanted to let you know that this morning I'm a little bit different. I've been a little bit profoundly sad. More than usual with that. Let's get it. Oh, you know what, let's not switch gears. A quick shout out. We have a listener, loyal listener in Glendale named Alex Anthony. You know who this person is? Alex brought up something that I guess is more doom and gloom than even I was ready for. Have you heard of the Doomsday Clock? Is that something Anthony you've heard of?
[00:05:04] Speaker C: Yep.
[00:05:06] Speaker D: So the Doomsday Clock, this thing. Alex put out a article from ABC 7 Eyewitness News out of Northwest Indiana. We'll send it to you if you want any of the articles we ever reference. We have them if you need them. So let's see here. Doomsday Clock moves closer to midnight Amid threats of climate change, nuclear war, pandemics and AI Earth is moving closer to destruction. A science oriented advocacy group said Tuesday as it advanced its famous doomsday clock to 89 seconds until midnight. The Bulletin of Atomic. These guys sound really smart. The Bulletin of Atomic scientists made the annual announcement which rates how close humanity is from ending, citing threats that include climate change, proliferation of nuclear weapons, instability in the Middle east, and the threat of pandemics and incorporation of AI in military operations. You know, we think about AI as like, you know, chat GPT. We think of it as like, you know, doing your homework if you're a college student. So good on you. But AI is, is going to take over our country. So one more thing from this article. Thank you so much Alex for forwarding it. Starting in 1947, the advocacy group used a clock to symbolize the potential and even likelihood of people doing something to end humanity. After the end of the Cold War, it was as close as 17 minutes to midnight. In the past few years to address rapid global changes, the group has changed from counting down the minutes into midnight till to counting down the seconds.
[00:06:51] Speaker C: So I guess sounds a lot like you. And saying that all this is going to end, it's all terrible, but there's no real timeline and it may never even actually happen. But you're just going to keep pushing forward. That at the end is near.
[00:07:07] Speaker D: The end is near. Anthony. 89 seconds away.
[00:07:09] Speaker C: We, you know, what is 89 seconds? How do they justify that? They have no idea. And it's maybe one day it'll happen and it's like, well I guess, I guess we're right now, you know, just like telling everybody they're going to die, you know, eventually you'll be right. Sure. Doesn't mean you should not enjoy all the life you have living until then.
[00:07:28] Speaker D: And I agree with that. I mean, that's right. You know, my moment of somber at the start is like, I also look at my life. Is there something I want to do that I'm not doing? Is there? You know, I only have one item in my bucket list. There's one thing that I haven't done in my life that I want to do before I kick it, and that's go to Alaska. The only thing I want to do is go to Alaska. I've been to most of the 50 states. I haven't been to Alaska. And I want to do that. I guess I should set it up. And. And by the way, I know you were slamming me, you know, on what you just said. I thought you were complimenting me because I thought I look like an atomic scientist. I just thought my brilliance and the.
[00:08:03] Speaker C: Way I carry myself, positive thinking. That is the way to look at it.
Take what I said and only take the good out of it. Take the positive.
[00:08:12] Speaker D: Yes. And now back to me, because nobody wants to. You know why? People watch nascar. Come on. You know why, right? Who wants to watch a car for an hour go in a circle? They're waiting for the crash. Anthony, we slow down to look at the car accident. We don't want to. We don't admit it.
[00:08:26] Speaker C: You're right, I'm wrong. When it comes to this show, people want to hear you. They don't like. They don't like reason. They just want doom and gloom.
[00:08:33] Speaker D: Did you say you're wrong? We just moved another second towards the end. It froze over something.
So. Okay, we got a lot to get to. Let's. Are we.
[00:08:42] Speaker C: Are you done talking about Alex? Because I do want to talk about another listener, too.
[00:08:45] Speaker D: No, go ahead. You need to bring a shout out here and there as far as me. Go ahead.
[00:08:51] Speaker C: All right, here we go. This one is for Art. I think I mentioned it last week. He talked about the FDIC. And, you know, we say on this show 1.2%, we're pulling it off of the FDIC's records. And he said he read an article that said it was 0.5, and I was like, well, I'll check it out. So he gave me the article. I read it. Maybe we should clarify this because technically the article is right and we are right. When we give you that 1.2 number, we're giving you what is actually insured by the fdic, not the total amount in the Banks. The total amount in the banks is about double what the FDIC actually covers. So what the FDIC has in its coffers to cover everything in the bank is technically lower than 1%. We got 0.5 ish, you know, as rough number. But what they cover of what they actually insure, that's where the 1.2 comes into play.
So I want to clarify that for everybody. But I do appreciate him reaching out. That was a really good article. So if you guys have other articles that you want to send us, feel free.
[00:09:58] Speaker D: And we're a little bit from now, one of my articles is going to talk about the banks and I want to address that very thing. And I didn't know about this with art, so this is great timing for today. So we'll get there in a minute.
[00:10:09] Speaker C: I think the funny thing too is when we talk about the FDIC coverage, just, you know, quick reminder to SVB, which crashed in what Q1 of 2023 was 2023, right? It's been that long now.
[00:10:21] Speaker D: Yep.
[00:10:22] Speaker C: So if you remember right, when that failed, the majority of the money was not insured by the fdic. Not at all. I want to say it was less than 5%. I don't know the exact numbers. So in theory we're like, well, the FDIC will come in and at least take over what they, they were supposed to cover. But if you remember, the government came out and said, oh no, even though 90 plus percent of your bank is in FDIC covered, we're going to make you okay, Silicon Valley. We're going to make you okay, Mark Cuban. You know, these rules don't apply to you. So we've checked the FDIC's coffers since then. They didn't lose any money at all. When all of those banks failed in 2023, they've actually gained money. So that was all taxpayers. The FDIC didn't even do what the FDIC was supposed to do in that situation and cover. They didn't even cover what they were supposed to cover. Everybody else did. So that's my little rant for just a quick reminder of things that we've talked about on this show coming to light again.
[00:11:22] Speaker D: No, you're right. And I am going to show you that I'm an adult and I'm flexible enough to change the order of my articles and get to the banks right now. I'm going to, I just put these right the top. So you know, you're right. I mean that, that was a weird situation. And, and how many banks you know, did fail in that little time frame. 3 or 4. They were pleasurable ones. Yeah, they were. And the whole thing, we, we have systems. There's rules. But you know what? The rules are for me and not for thee. The rules are for thee and not for me. There. There's always a separation of people. And it's. It's odd because when you look at things, look at Medicare. I was listening to one of Joe Jaquin shows this week, and he talked a lot about, you know, the. The upcoming changes in Social Security, Medicare, Medicaid. And it was saying that, you know, they say they have $200 billion in their coffer for Medicare. That's the one he zeroed in on for Medicare. They have $200 billion in this, this slush fund. But then he said it's all baloney because the government is robbing Peter to pay Paul. They're borrowing money from other areas so they can keep that $200 billion slush fine because they're using other money. It's a giant Ponzi scheme. Welcome to the FDIC. So I'm going to get to three articles real quick. The first one is from msn.com and this was in December, the end of December 2024.
Just a general article here. It's called what does the FDIC Do? And that piqued my interest because I'm like, well, I don't think much, but let me read further. Oh, that's right.
[00:12:52] Speaker C: Because that's the one article I didn't read. Of all the articles you sent me. And then I sent you, I went and I reread every single one. I was like, I'm gonna come back to that. And I did not. So, please share with me, what does the FDS do?
[00:13:03] Speaker D: It was down on the totem pole. I just became an adult and changed the order since you. You brought this up.
[00:13:08] Speaker C: So the federal started all this.
[00:13:11] Speaker D: I love Alex, by the way. Alex goes to our West Valley men's networking. You need to come and meet Alex. So. And we need. We need our buddy Mike from Frank's Anisoto. You weren't there the last two. Do I have to personally invite you to each one to get you to show up? He's another one that listens every week, as far as I know. So the Federal Deposit Insurance Corporation was born during the depths of the Great Depression, a means of shoring up banks when the banks were routinely failing and erasing the wealth of Americans. The incoming Trump administration is looking to pare back or even eliminate the FDIC and other financial oversight agencies. Okay, so if you're half of the country, that's going to bother you. Here comes Trump, he's going to put us back in chains and he's going to get rid of the government, you know. But I got a question for you. So if we're going to redo systems and we're going to have DOGE and we're going to do things, why wouldn't you abolish this system? Aren't those the people that we read articles, Anthony, like a year and a half ago about that were having like, I don't, I don't want to get censored here, but sex parties at their conventions and doing ridiculous things and getting caught. These, the government has run amok. And this is one of the agencies, you know, we played for you clips from their big meeting of November like two years ago on how the public is too stupid to know that we're likely to have a bail in that we're likely to have financial problems. So I think, why not Trump? Why not somebody get rid of this? You know, they've got 1.2% coverage on their money. So this whole FDIC thing is an illusion of safety that isn't there if it's needed. You know, it's kind of like health insurance. I love health insurance because it's wonderful. Unless you ever need it. Health insurance is great. Pay your premiums, you got that peace of mind. But if you ever need it, it sucks. That's right.
[00:15:00] Speaker C: We're gonna have universal healthcare and then you don't have to worry about it.
[00:15:03] Speaker D: You want me to switch another article about cat clothing? Probably died last year waiting for care. I've got that article in queue. So anyway, to finish this up, you know what I think the FDIC is? It's a rich person's toy, right? Mark Cuban. The rich get richer, the poor hover, and the middle class are shrinking the fdic. So the banks pay into the fdic, not the general public. We don't pay into it. The banks pay into. Well, of course we do. Because when the banks charge us non sufficient fund fees, when they charge us monthly fees, when they charge us all this stuff, they're using our money for everything they do, by the way. But this, this fdic, it's broke. It is absolutely broke. It's another bloated agency that are having parties where they get in trouble. Let me continue in this article so I don't get too passionate about it. So confidence matters. The FDIC was created in 1933, to help the US navigate a catastrophe that put thousands, not hundreds, thousands of banks out of business. So what's it going to do now if we have, if we even have 10 banks this year that take a dump? The FDIC insurance is in deep trouble. This said Thousands. The guaranteed 250,000 does not come from taxpayers, said CBS News. Instead the FDIC assesses quarterly premiums on insured banks. So that is true. And again, where does that money from the banks come. That comes from us. So anything else I need to read? No, it just goes on to basically say how great they are and I'm just going to beg to differ because there's no money. So it's great for now. If we ever have a modern day run in the banks, which I'd say we've had a slow burning run on the banks for the last at least five or six years, we'll see how solvent those guys are. So good work, good work. Get rid of them. Switching gears, Anthony, you sent me an article. This was on the 23rd from Yahoo Finance. It's hard for me to say Yahoo without singing it. Yahoo Finance, JP Morgan Chase workers grouse. I like that word. They grouse over measly bonuses, 2% pay bumps as bank reels in record 58.5 billion in profits.
So while people are suffering in this country, there's record credit card late payments. There's people not making their payments. There's people that are inundated by the way, they're still living large. Go out to dinner, it's crowded everywhere you go. So people are still living on their credit cards. So you're making 58 and a half billion in profits. Yeah, you know, so I get myself worked up, I'm going to hyper their shareholders.
[00:17:37] Speaker C: Not about paying employees. It's not about the benefit of man, it's about paying shareholders.
[00:17:42] Speaker D: Amen. So and you know the FDIC where they pay in quarterly, they pay in these small amounts quarterly to, to drive up to the 1.2% of coverage in case we have a run in the banks. Got a question for you. It's supposed to be based on how much assets you have. So I hope the FDIC before they get abolished are watching this, this profit that Jamie Demon made for his company last year. Let me just read a hair from this article.
So one JP Morgan worker who has been with the bank for several years said everyone on their team got a 2% raise. The five employees from Fortune spoke with for this story did not want their names used for fear of retaliation. That's pretty sad when if you use your name because you say what you think or what you know or believe to be true, you could get fired. So none of the five are investment bankers. By the way, the employee probably got.
[00:18:37] Speaker C: Paid a ton if they were an investment banker. Oh yeah, throw off all the numbers.
[00:18:42] Speaker D: Oh yeah, and they'll never get fired. It's always going to be the entry level teller that has to watch their back anyway, the employee, who is in the Southwest, learned Wednesday that their bonus increased by just 3,000. It hasn't been a positive experience for most of us, said the worker, who said they took the rest of the day off so they wouldn't say anything they'd regret. Good for you. But shame on you. Stay there. Regret. Be like me with a short fuse at PNC bank and start fights. Apparently Anthony brought that up to you all. So I'm, you know, I'm glad you brought up last week that I can't control myself and my anger issues. A second employee, you like how I interject. Everything's about me. Have you ever noticed that I am an atomic scientist? So that's just how it is. A second employee who works in the south said they were shocked at how bad their compensation turned out. The workers said they had received stellar reviews and were prepared for a meager raise because that's how it goes when you stay at a company. But the result was still worse than what they had expected. It just feels like a slap in the face, the second employee said. I don't know, it sounds to me like they got a pretty good deal there. Sounds to me like they got the gift that keeps giving. Clark, I think they got a jelly of the month club. They're not bringing that up. So a couple more things from this article. The lackluster raises come after JPMorgan Chase posted fourth quarter results last week that surpassed Wall street estimates. The Bank's profit rose 50% to 14 billion. In one quarter. This company made 14 billion while revenue climbed 10% to 43 billion.
JP Morgan's full year net income soared to 58 and a half billion, a record for the bank. Record for the bank. So if you're struggling to make your mortgage payment, if you're Sam, just put up a picture of the jelly of the month club, the gift that keeps on giving. So if you're struggling out there, we are watching the auto loan default rate climb. We're watching the subprime auto rate climb higher than it has ever been in history. That is going on currently. It's never Been this bad. Now I know what you're thinking. Well, 2007, 8, 9 and 10 it was pretty bad. Yeah, it was pretty bad. It wasn't like this so it just know that you know where you put your money to make your car payments that you can't make currently. They're doing all right. So many of the employees said they would begin searching for another job. Some think that low raises and bonuses along with the RTO. I presume that means return to office mandate mean JPMorgan Chase is looking to cut staffers. Oh, maybe that's what this is about. I do feel that as people plan to exit this was the company's plan all along.
It will save a lot of severances by just pushing people out. Is that the world we live in. It's all about the bottom line. Nothing matters except what have you done for me lately monetarily?
[00:21:37] Speaker C: It's capitalism baby.
[00:21:39] Speaker D: Capitalism. I love this country. Heck yeah.
Another article from the Daily Hodl. One of my very favorites from the 26th of January. JP Morgan, Citi, bank of America, Goldman Sachs, Wells Fargo and Morgan Stanley reap 145680 billion dollars in profit in one year. 145 billion dollars in one year. Six of the largest banks in the US recorded exceptional returns in 2024 despite recession fears and geopolitical uncertainty.
JPMorgan Chase, Citi, blah blah blah. Says here printed 145.68 billion in combined profits last year largely propelled by stellar performances and in investment banking and deal making.
Citing data from the market analysis firm FactSet, the Financial Times reports that the combined profits Posted by the six banks are a 20% increase from the earnings generated in 2023 and represent the second highest on record in 17 years. You know what I read when I read this? A you're screwing your employees to the wall as indicated in article previous. Number two, you greedy mothers get start waiving fees. Lower the credit card interest rates, you horses. 23 26% interest to the people that can't afford it yet you can buy a yacht. I don't know. You know what the biggest thing it makes me think though? This is another indication that even though you think I'm a little bit slanted negative Anthony, which I'm not sure where, you get that we are in an everything bubble on steroids. The banks have no money. You have to tie what we've said over the years together. The banks have no money. We run this country. Our banking system on a fractional reserve system means a fraction has to stay in reserves during the COVID years. In March of 2020, March 16, to be exact, the government said, you, banks, you know, JP Morgan, you just made 58 billion last year. You don't have to keep any percent in reserves.
Let that sink in. Little pause, you know, for effect. You, you four years have gone by, you make record profits, and yet the government still is not making you keep any in reserves. The fractional reserve level is at zero, and it has been for almost five years.
So you know what? And the people that talk about oil companies, we pay so much of the pump, but the oil companies are making billions in profit. Same thing. Another leg on the everything bubble. Stool. Need a stool sample of the everything bubble to see what's really going on here. This is insane, what's going on in this country. And you know, some of it, Some of it is what is important to people. Is it to look underneath the screen and see what's going on behind this country and think, I might be right. And we're going to have a biblical correction in the stock market. We're gonna have a lot of pain coming, you know, depending on what can happen with tariffs and that sort of thing. So you know what, people? You know what? In my travels this past week, I spent about 10 hours a week getting ready for the show. I know it never would sound like that, but it's true. You know what I saw a lot of, I saw a lot of Zuckerberg peeking at Lauren Sanchez's cleavage. That, that came up on a lot of my feeds. I saw. I saw something about cute winter boots. I saw Selena Gomez crying because of the deportation.
You know, is she trying to bring herself back to relevancy? You know, where was she when Lake and Riley was killed? You know, all of a sudden now she's sad. So anyway, I gotta. I gotta slow down here. One thing that I. That popped up a lot. Apparently there's a big cartel war brewing at the border. We actually had people shot. So a lot of stuff going on, good and bad, and yet all of it is just this shiny object where I can't focus on the underlying problems of this nation. With that, I think we have to take a break and then we'll come back to more of my passion because as Anthony used to say, I am on one today.
So we would love for you to reach out to us. We are going to do more than regular financial planning based on your age, income, date of birth, income taxes, risk tolerance, all that. We are going to help you with how to get a will or a trust in place. We're going to help you to make sure you understand what a personal liability umbrella policy is. What we don't sell them. But we're going to help you. If we put together the perfect financial plan for you and there's a hole in it like you should have had a kind of insurance that you don't or you shouldn't have a kind of insurance that you're wasting money on. We became salespeople like we don't care for. We want to be your financial advisor, not your pressure and quota driven salesperson. So reach out to
[email protected] or give us a call the old school way. Macy's standing by to take your call. 623-523-0444 and if you call within the next 90 minutes, there'll be a free no obligation consultation. Of course we'll do that for next week too. So reach out to us. Oh one last thing before we take a break. Our YouTube channel, we're growing, we're working on it. We're trying to figure that thing out. So please like subscribe and share that. Help us grow that thing. It's one other way. We're trying to get little fish out into a big pond. We'll be right back.
[00:27:26] Speaker B: If those other money advisors promise you a boatload of money, check the size of the boat and be sure it's your boat, not theirs.
[00:27:44] Speaker A: 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. Remember, all of JR 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 D: Welcome back to Another Money Show. Thank you so much for being with us. You know how much we appreciate it. So our job here, here on Another Money show, we say it all the time. We want you prepared, not scared. We want you proactive, not reactive. So that's, that's our mission. This show is not Another Money Show. It's not an hour long infomercial. It's a show on current events and how they are likely to affect your finances and your life and your kids lives and your grandkids lives. So we talk about things that are coming and things that are happening. So you're aware of them? You know, I like to say that we dig into things and then we package everything and bring it to you in one hour so you don't have to. So something big coming up in your future that I want to talk about. So Janet Yellen's gone, Anthony. I told you she would be, and she is. They put her out to pasture, I think, like a horse. They shot her and made her into glue or psychedelic soup or something, but she's gone. We have a new guy named Scott Besant, and I'm really, really going to watch what happens here in the near future. I've been saying literally for over 20 years that the tax code is broke. When you look at the size of it, when you look at the changes, when you look at the tax codes, when you look at the unfair nature of things depending on who you talk to, they're saying the rich don't pay their fair share. They're saying a lot of people don't pay anything.
I think we're actually at a point where what I've been saying for 20 years might come to fruition. I have said we need to have a flat tax. I used to, 20 years ago, I thought it would be 10%. I don't care what you make. If you make $1,000, if you make a million, you have to turn in 10% of it. The country needs you. The country needs it to have these bloated administrations like the FDIC supported. And now I would say the flat tax needs to be about 15%. It doesn't need to be 30. It doesn't need to be 65. Looking at you, Bernie, and your little mittens and chair, we don't need universal health care. If we get to that article about Canada, you'll know why. So I think it needs to be 15% Bessant. And Trump Besant was just approved to be the secretary and he's already working on the consumption tax. That was the second leg of the stool. I thought we need a flat tax and a consumption tax. If I buy a pack of gum, I'm not going to pay a lot of taxes. If you, Jamie Demon, buy a yacht, you're going to pay more. So if you mix a flat tax, everybody has to pay it, and a consumption tax, we can start stabilizing our spending, start stabilizing our taxes. Trump wants to get rid of taxes. He's saying we're going to have.
[00:30:51] Speaker C: We are going to talk about that. Good.
[00:30:53] Speaker D: Yeah. He wants to get rid of the Internal Revenue Service. What is the word service mean if you use it in a different context? So he wants to get rid of it and have the external revenue service. I agree. The tariffs, if it works, yes. I'm worried about inflation. If it works, it is going to be incredible. The engine of this country is spending. We are a debt driven nation. The people that work for a living, blue collar workers, they keep this stuff going. You know, part of how very wealthy people stay so wealthy and get wealthier, they don't, they don't do the same things a lot of America does. We need a lot of Americans to feel good about their future and their country and the companies and they need to be out there spending. You know, we don't produce anything in this country. You know, all we've done for the decades that I've been on this in this country, we raise taxes and we print money. We really, you know, steel mills are long gone. If you're from Philadelphia, your grandfather might have been a steelworker, but you're not. So I'm curious to see what's going to happen. They're talking about a gold backed currency again in this country. Maybe the current administration is actually seeing the brics nations and how they're de dollarizing, how they're getting closer. So I'm hearing about the consumption tax. I hope they add a flat tax. I really think there are ways to make America great again. You know what, today's gonna be a show about maga but make America great. It's all over the place. We're gonna make Anthony great again. Whenever I think mag and I'm gonna think make Anthony great again. So Sam, put a little infographic up on our screen here. Where does one U.S. tax dollar go? 22 cents to Social Security, 14 cents to Medicare, 14 cents to health care. 13 cents to National Defense, 13 cents to income security. What's income security? Is that different than Social Security? 11 cents to net interest. I don't know Sam. I think this, I wonder what the date is on this infographic.
[00:32:54] Speaker C: It seems old net interest should be number two.
[00:32:57] Speaker D: Yeah, yeah, 20, 23. So this is already flopping. Yeah, a newer one would show different fractions on here. But anyway, the bottom line is all of your tax dollars are going to float. Ponzi schemes and defunct broke systems and we need to fix them. I mean, I'm sorry, you know, just because you don't want to see it doesn't mean it's not coming. We also in my office for over 20 years have been sounding alarms on Medicare. Medicaid, Social Security, going broke. It doesn't happen overnight. It's not going to be January 1st of 2026. It's going to happen slowly and then all of the sudden. Like when you talk about people that filed bankruptcy, how did that happen? Well, real slowly and then all of the sudden so. And you know, companies to companies, you're going to pay your first year Boeing. Anthony, you were in the aerospace industry as an engineer. You're the atomic scientist. You're actually a smart guy. I forgot about that. I've spent, you know, almost seven years in the office with you. I forget that you're smart. So Anthony was an engineer in the aerospace industry. Boeing lost $12 billion last year.
They think they lost a couple planes too. Didn't a couple planes actually fall out of the sky?
[00:34:09] Speaker C: Yeah. It probably didn't affect their stock prices though.
[00:34:11] Speaker D: No, it did not. The rich get richer, the poor hover.
[00:34:14] Speaker C: Over billions in government contracting. It's not like Boeing's going anywhere.
[00:34:19] Speaker D: That is true. But it's still funny to see a company losing that kind of money. So, you know, and a lot of changes. So the tax code might be changing. We've got Elon, our friend Elon Musk, he's going to start an X money account, basically an online bank. You've got Donald J. Trump, who's going to start. I read this just yesterday. I read this on Truth Social. I don't just read articles, I go on social media to poke around Truth Social. Yesterday on the 29th, Trump Media announces expansion into financial services. They're going to offer customized separately managed accounts, customized exchange traded funds, Bitcoin and similar cryptocurrencies or crypto related securities. Let me read just one line from this true social posting.
We look forward to launching Truth.fi, introducing TMTGs, Trump media groups, investment vehicles and unlocking synergies, said TMTG CEO and chairman Devin Nunes. Does that name ring a bell? Kids, look up Devin Nunes. Truth Fi is a natural expansion of the Truth Social movement. I like it. We began by creating a free speech social media platform, added in ultra fast TV streaming service and now we're moving into investment products and decentralized finance. Developing American first investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever present threat of cancellation, censorship, debanking and privacy violations committed by big tech and woke corporations.
So obviously the polarization over this is going to be huge. Half the country is going to like the heck out of this idea. Half is not. But you know what, the political swings that we've seen are insane. You know, when you look at the days of Clinton and before, there wasn't the infighting, there wasn't the thought that this country is going to split in half one day with a modern civil war and become red states and blue states. Obama, Trump, Biden, the polar. You know, half the country is not getting along with this stuff. So I, this is going to be interesting. So, and my thinking is, in my lifetime, the only politician that said, I'm going to do this, this and this, and then they get in office, he's the only one that did this, this and this. So you better like kind of pay attention to this because odds are very good that Trump is going to have a financial services. He's going to be the Costco of all things financial.
Switching gears, this is from the business standard. On 29 January 2025, Trump administration freezes 50 million in funding for Condoms in Gaza in her first press briefing on Tuesday, U.S. secretary Caroline Levitt said that the U.S. department of Government Efficiency, the ODOJ, and Office of Management and Budget, the OMB found that about $50 million was being used to fund condoms in Gaza. Calling the funding preposterous, Levitt said that the government is focused on being good stewards of American dollars. This should have come out with the Festivus Report. I mean, it's, you know, I mean, it's, it's funny and it's not funny to me. You know, it's an odd item that we're spending so much money on. See here, DOGE leader Elon Musk expressed his doubts on the huge amount of money in a post on X. He said, my guess is that a lot of money ended up in the pockets of Hamas, not actually condoms. Adding, yes, even in the unlikely event that the money was actually spent on condoms, we should not be sending us taxpayer money to buy condoms for foreigners. Notice I don't giggle with this article because it's too obviously funny, it's too ridiculous to be true, but yet it is. I went and found several different sources that said, yeah, we really were doing that. That's really what was started under the last administration and just got scrubbed by the current administration. The money laundering going on in this world to me is out of control and insane. And I just find that absolutely incredible. Any feedback on that? You know, what other money show? Just a sideline to this. What other money show can you hear about funding for condoms too, by the way? So this is important stuff. Anthony, anything to add to that or should I move on?
[00:39:14] Speaker C: Nope, I got nothing.
[00:39:15] Speaker D: I didn't think you would on that one. Sam, anything you want to discuss on that one? That's a touchy subject. Moving on. Zero Hedge Yes, Sam, that is definitely government subsidized contraception, although it's not for this country, so that's not cool. Not cool government since this is from Zero Hedge on 28 January. These are some timely articles today. I feel good about this. Since 2018, over 75,000 Canadians died waiting for health care. So let's see here. Second street reports 15,474 Canadians died waiting for health care in 20232024 Today, Secondstreet.org released government data showing an additional 15,474 patients in Canada died in 202324 before receiving various surgeries or diagnostic scans. However, that number is incomplete as several governments provide either partial data or simply do not track the problem. Secondstreet.org collected the data by filing Freedom of Information requests across Canada. When the data collected is extrapolated across jurisdictions which did not provide data, the number actually nearly doubles to around 28,000. These figures cover everything from cancer treatment and heart operations to cataract surgery and MRI scans.
Another I'm skipping ahead on this article because you can read it for yourself if you wish. Another 15,000 plus were euthanized. Interesting. The National Review comments on Canada's I almost said Canadians social well, isn't it just North America now? Isn't it North America? So Canada's socialized healthcare culture of death. What a debacle. More than 15,000 people died in Canada in one year because they couldn't access care in the country's collapsing socialized health care system. But it gets worse. About the same number of people were euthanized in Canada in 2023. Some asked to be lethally jabbed because they couldn't access healthcare in a timely fashion.
So is that what Bernie Sanders wants here?
You know, if we did somehow merge with Canada, one of my biggest questions has been what happens to the health care system? I mean, ours is broken, theirs is broken. So I don't know how we fix this. I think we need to revamp a lot of systems.
So I don't know. Sam said, here you can live with medical debt in America or die debt free in Canada. That's seemingly somewhat true. Didn't Harris just say that they can't use medical debt on a negative for your credit report anymore? Is that something that just happened.
[00:42:11] Speaker C: Anthony, that's pretty nice. Yeah, I think I've heard something along those lines. I don't know if it became official.
[00:42:16] Speaker D: I'm not sure. I mean, I was hoping you knew it.
[00:42:19] Speaker C: No longer playing for medical care?
[00:42:21] Speaker D: Well, it's, I mean, watching in my own family, you know, I mean, your mom had a couple health issues to deal with and again, I, I know what I'm saying when I say we need to put her down next to Janet Yellen. So, so I mean it's, it's really. So many things are so broken. I'm not sure how we get past this.
So. But I just, I find it interesting, something. I know. I just don't want to forget to bring this up to you. In my travels when I talk about Selena Gomez and all this weird, bizarre stuff, there was one thing that popped up a few times that, that maybe we're going to get some clarification on this too. Have you heard anything about help signs? Like people that carved in the dirt help signs on the ground in LA by the Cesar Chavez Bridge? Anthony, did everybody up to your Dalton Creek?
[00:43:13] Speaker C: No, I saw that. Yeah.
[00:43:15] Speaker D: I mean it's really, really bizarre. I think when I talk about. I can't wait to see all these different things come to the surface. I think this year we might actually learn more about child trafficking and where kids are and you know, what the status of that is. But it certainly seems weird that on Google Maps they zoomed in, some people zoomed in and they found people trying to request assistance in la. So very, very scary.
Anthony, you sent me an article from 28 January from Fortune. Is it Fortune magazine? The Fed sent stocks spiraling after its last meeting and now the central bank is expected to leave interest rates untouched on Wednesday. I would like to read one little blurb from this and then I want to know from you why you sent it to me. So let's see here.
[00:44:07] Speaker C: It's a little outdated now because they had their meeting. So it's necessarily spiraling.
[00:44:12] Speaker D: Well, and it spiraled on Monday. I mean, Monday was a heck of a day, mostly Nvidia fueled. But my point was going to be, and I still want to read a little blurb from this, but my point is who on earth is watching Jerome Powell and making the retirement decisions based on what that guy does or does not say? You know, Trump is basically demanding that he lowers interest rates. I'm sure you've heard that. Yellen Powell, Jared Bernstein, we've just spent almost three years on this show poking Fun at you because you have not been good for our country's financial solvency. When we look at inflation, we look at the future of Medicare, Medicaid, Social Security, the debt that has risen under your watch. Janet, we did an article, I think under your watch, your total reign of terror, it doubled. My gosh. So who gives a crap what Powell says? He's more hawkish, he's more dovish. Who cares? The markets, the truth is they don't.
[00:45:12] Speaker C: Know what they're doing either. We knew that years ago. Covid. Oh, it's a fine. It's transitional. Or was it. Is that the word that they need? Transition? Yeah, of course they don't know. They don't know. And also Trump lowering rates. You shouldn't. Rates now are obviously much higher than they were pre Covid. But these are actually like fair, decent rates. They're still low compared to historical lows. But we need to stop punishing people for being savers by keeping rates obnoxiously low, like they were all it does. It's hurting lower class families, it's helping these big businesses borrow money for absolutely nothing. To inflate a stock market, which means that all your only option at that point is to dump money into the stock market, which obviously is this huge Ponzi scheme. It's a huge bubble. So when that bursts, everybody's gonna fail. But these large banks, record profit, they're gonna be fine. These big organizations, these big companies, they're gonna be fine. Everybody else will not be. It'll be like 2008, it'll be the dot com bubble, it'll be the Great Depression again.
[00:46:17] Speaker D: And do you think that's likely to happen soon?
[00:46:21] Speaker C: I think it could happen any day.
[00:46:23] Speaker D: Me too. Me too. And again, I mean, you know, when you came to the office saying, why am I so worried? There's always been stuff to worry about. We had a civil war. We had a great depression. I know, I know. My whole point was we've never had everything on the table at once. We've never had going back into a hot war with Russia. And by Saturday, by the time you hear this, or Sunday, as it rears on 960, the Patriot, maybe we'll know more. Maybe the helicopter, you know, was intentional. I know some of the people on the plane were Russian. You know, is this meant to poke a bear? I don't know. We don't know anything about it yet. I mean, you know, again, we're recording this, you know, early in the morning on the 30th on Thursday. So we'll know more on Saturday by the time you hear this, what happened? So let me read just a little bit of this article. So it says here, why are people losing confidence? Well, the economy is strong on paper, but we really aren't totally out of the woods where inflation is concerned. Inflation, as measured by the Consumer price index rose 2.9% in December. Plus, there's a new administration in town. Before President Donald Trump's election victory, economists warned that the policies he promised on the campaign trail were inflationary. They were worried about his policies for mass deportation, tariffs and tax cuts. Since his inauguration, Trump has begun deportation efforts and threatened countries with tariffs. All the while, Trump appears to be applying pressure on the Fed and its chair, Jerome Powell. Speaking virtually to the World Economic Forum in Davos, Switzerland, last week, Trump said he would demand that interest rates drop immediately if he's going to get rid of the fdic. Maybe the next step is to get rid of these people, too. Hours later, speaking from the Oval Office, he said, I think I know interest rates much better than they do and I think I know it's certainly much better than the ones who are primarily in charge of making that decision. Trump also said if he disagreed with a decision, he would make it known and that he thinks the Fed officials would listen to him. I hate to say this, I'm not just trying to be a Kool Aid drinking Trump supporter. The feckless administration that's gotten us into 36.4 trillion in debt. Go to your debtclock.org by the way, kids, you know the DOGE thing is spinning. We've already saved something like $30 billion on the DOGE clock. So 36.4 trillion now in debt. So somebody needs to be fired. Some, some house cleaning needs to take place. And Anthony, you hit something spot on.
It ties in with what I've said forever. The rich get rich, the poor hover, the middle class shrinks. We are hurting that the low rates for as long as they were hurt this country so bad. Giving Covid stimulus checks out hurt this country so bad. When we're in Sun City, we have people on a true fixed income. They just have a small pension or they just have Social Security or whatever. They don't have enough assets to get by. We help people regularly that other advisors refuse to help. We don't buy demographics lists of just millionaires. We help people and some of what we see is Sad. They need 4, 5, 6% CDs. They need it just to get by with the inflationary pressure. So the middle class, the ones with a lot of money, the upper middle class are still going to be okay. The lower middle class, the middle class which is still shrinking, they're hurting. So. And you know what, when, when you got a mortgage few years back and it was 3%, whatever 2.75 to 3 and a 15 year fixed, you know, 3 to 4 on a 30 year fixed. You're captive.
The house prices have boom, they've skyrocketed. So the price of the home is unattainable for most. And then you add 6 to 7% note, it's just you're stuck in your house. So you had two more kids in the last four years. Sorry. Share a bedroom, buy bunk beds, buy a trundle bed. Anthony, have you ever heard of a trundle bed or am I dating myself?
Yeah, trundle bed, you need to look at it. Don't ask me what it is. You need to look it up. So trundle Sam already put what it is. Trundle bed. Well what it is, it's a bed and underneath it instead of like drawers that some beds have or nothing, you know, just storage.
[00:50:37] Speaker C: It's a pull up bed under the bed.
[00:50:38] Speaker D: Yeah, they're so cool. I like Murphy beds and trundle beds. When I'm president I'm going to bring back trundle beds and Murphy beds in a big way that'll stimulate the economy because when people realize how cool a trundle bed is, they're going to want one. It's getting hard to say the word trundle starting to sound like a made up word. So anyway Anthony, we doing safe alternative to CDs. We also have been able to help people. We've got. And today is the 30th of January. Do not hold me to this rate. Even tomorrow you have to call. We have a one year CD alternative right now that's paying 4.25%. You know what the difference is between some of what we show people and the banks? Your bank has 1.2% in the coverage from the insurance coffers. Our products cannot be sold unless they have 100% guarantee on your money. They have to keep dollar for dollar or more in reserves to be able to operate in your state. So come see us. We have solutions. That was kind of financial, wasn't it?
[00:51:41] Speaker C: There you go.
[00:51:42] Speaker D: Yeah. So. And you know what we. This was a good week. We helped, we helped people with a lot of different stuff. We did help a woman who is on a true 15 also.
[00:51:51] Speaker C: They confirmed I'm on their website Now. It is 4 to 5 through 28 February. Now. They announced it.
[00:51:59] Speaker D: I pulled it up yesterday. We are. I'm ahead of the game. I'm an atomic scientist. You're only an engineer back down. So, yeah, four and a quarter, that's pretty good. And then you have 30 day window, one year later to decide what to do. Do you want to pull it out? Do you want to pull some of it out? Do you want to let it roll over? And we'll talk to you about the terms of that so we can help you. Anthony's big push. We this week was a good week for financial planning. We got to talk to one person about food and water. We got to talk to a person about who's on a true fixed income, about how to start rearranging things to make sure, you know, life is easier. And we talked to a guy who's fairly well off. So we hit the spectrum this week. So Anthony's big push. Income. Income over assets. Assets can shrink. Assets can be subject to lawsuits in some cases. There's a lot to this stuff. So come sit with us and Anthony will talk to you about income you can never outlive and diversification. And he's a fiduciary and he does all these different things and he's wonderful.
Anything you have to add, Anthony, before we take this whole thing and wrap it up for the week?
[00:53:05] Speaker C: Oh, no. That was it. Well, second half went fast.
[00:53:08] Speaker D: It went really fast. Every week goes faster, Sam. We need at least two hours. I used to think six hours, but the older I get, even three years later, I'm like, I'm too tired.
[00:53:18] Speaker C: If you like what you heard, you have questions about any of the topics today or you want to sit down with us to review your personal financial situation, you can reach
[email protected]. find us on the web anothermoney show.com. there's a little contact button there.
Our phone numbers on there, 623-523-0444. The number again, 623-523-0444. There are no minimums to reach out to us to sit down with us. There's no cost for appointments. There's nothing to lose by getting a second opinion on your financial situation. We'll see you again next Saturday at noon right here on 960, the Patriot and re airing Sundays at 1.
[00:53:59] Speaker B: Still, thanks for listening to another money show. You deserve to work with a private wealth management firm that will strategically, magically work to protect your hard earned assets. To schedule your free no obligation consultation visit anothermoneyshow.com investment advisory services offer through Brookstone Capital Management LLC. BCM a registered investment advisor. BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM 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.
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[00:54:56] Speaker D: We want to ask you to prepare for economic chaos. We want you to prepare for bank volatility. We want you to ensure and protect your assets. With a smart plan.
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