[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.
[00:00:41] Speaker C: Here we are, your hosts, Anthony Correo, 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 where the last thing you need is another money show. But we appreciate you being here and.
[00:01:04] Speaker D: That'S all we got for today, so thank you as always. We, we enjoy you being here. We don't. There's not anything going on except, you know, I mean, I told you last week I was sick. Apparently it's whooping cough. I started reading this morning that we're getting an epidemic of whooping cough. I was reading yesterday that COVID25 is on its way. So, yeah, we haven't talked about death and destruction and illness for a while.
[00:01:26] Speaker C: So I thought maybe Covid will do what it was supposed to do and start wiping people out this time.
[00:01:31] Speaker D: So disappointed the traffic is so bad in Phoenix. I'm actually, I'm, I'm fine with that.
[00:01:37] Speaker C: So, as always, your health risks, all the inheritance I stand to get from this per cannot wait.
[00:01:44] Speaker D: A lot of, a lot of people don't know this, but I am a thousand air. So you soon will be rolling in it.
[00:01:50] Speaker C: Your thousand and my thousand.
[00:01:53] Speaker D: All right, let's stop being silly today. Let's get into it. We have some really, really important stuff. Let's start out with shout outs as usual.
So one of our listeners called in. I know you talked to him for a couple of minutes and then I talked to him for almost an hour. So if you're listening again this week, Jim, thank you so much for calling us. I had a wonderful conversation with you. I need to follow up.
Jim and I talked a lot about the world and the potential pitfalls and we also talked about cryptocurrencies. I am not really at liberty to discuss it in too much depth here, but I Actually bought into a cryptocurrency few weeks ago and now I think, I think Jim's joining me, so I want to hear his experience.
And another one, Mike, from Frank's Honest Auto. Busy week for Mike. So he'll be able to retire. He'll be a thousand there after this week too, because he had my car in and that's always a expensive treasure. And then he had a truck in from our family and now Jay's car is in there. So good on you, Mike. We always, we trust you and we really, really are glad you're there.
Let's jump into it.
[00:02:59] Speaker C: I would have jump into the cryptocurrency and how you're the best crypto. You're a no bro now.
[00:03:04] Speaker D: No, no. I told you I would never go into the crypto because we've slammed it for so long. So now all of a sudden I'm doing a 180 degree. I am not doing 180 degree turn on crypto. I just know that I missed the boat on bitcoin. My office manager and I talk about it years and years ago. It was at 16 cents when we talk to each other out of it. So I would be a multi, multi gazillion billion trillionaire at this point with a lot of zeros behind my name. And yet here I sit, half homeless.
[00:03:37] Speaker C: So I, I think, and I still, I disagree. I don't think you would have, I think if you didn't believe in it then and even if you had bought it at 16 cents at a dollar, you're selling because you just yolk five times the money then when it becomes $10. But you, you and I get what you're saying. You keep your original investment always, but it's like you're going to get rid of it eventually because there's no way you're holding at 16 cents to 105 or 10,000 or whatever it is.
I don't, I don't.
[00:04:07] Speaker D: It's taken a massive dip over the last few days. It's down to only 104,000 per coin that you cannot ask for. So at least luckily people were smart.
[00:04:16] Speaker C: Enough to buy the dip when it was like 80,000 a couple months ago. Right. Because all those people that called us to buy at the peak, they bought it at 80. And they're not just trying to buy it again now that it's 104. Right. Because that's what people are so financially smart.
[00:04:34] Speaker D: And that's where you'd be incorrect. It's going as it Always goes. Now they're looking at it again because somebody will tweet or X or whatever it is that it's going to go to a million dollars a coin. So now it's time to jump in. No. And part of my thing you have and you know this. A lot of people don't know this. I do not smoke pot. Let me throw that out there for you.
[00:04:54] Speaker C: I legal now.
[00:04:56] Speaker D: Okay, well, I don't. So if you want me to manage your money, at least I'll do it with clarity. So I don't cocaine and do cocaine.
[00:05:05] Speaker C: Anthony, we watch Wolf on Wall Street. We know what this business is about. Those guys aren't stoners. They're not lazy on the couch. They're taking uppers, they're throwing midgets and they're drinking a ton of boost. That's what this life is about.
[00:05:19] Speaker D: I have a feeling that Anthony is on a little bit of the old nose candy today. This is exciting. This is the good Anthony. Last couple of weeks was the somber Anthony, although I didn't really lord his.
[00:05:29] Speaker C: Last shows and I realized that I was the best part of this show. So I should probably talk about.
[00:05:33] Speaker D: Oh, my gosh, you are high as a kite right now, aren't you? So back to a couple things. Let me clarify a couple things. One, you know this and a lot of people do not. I have been into the market, the over the counter market, pink sheet, whatever you want to call it, on marijuana stocks for over two decades. I saw 20 years ago when I was new at it, that it was coming not because of compassion, not for cancer and glaucoma, for revenue. What is, why does anything move in this country because of revenue? So I bought a portfolio of marijuana stocks. I have since lost my shirt. You know what the one thing I've done, I've never ever sold my original buy in. I have some that were delisted. Like they're literally gone. They went to zero and they went away. So that has happened to me. I've got two right now and I've bought a total of about 25.
My original purchase was 17 of them.
I have two that are actually doing pretty well right now. So I'm actually way up on my marijuana stock portfolio. Shout out to you guys over there at Schwab for letting me self manage and direct my own money.
So yeah, I've got two that I'm actually kind of hopeful for. I still think there's a lot on the table, but I still think it's coming legal here in the United States. When it does, it'll probably be like Canada. There'll be euphoria, pardon the pun, and the stock will skyrocket and then all the idiots will get in at the top. And then I will have gotten most of my money out. But you know what I've never done? I've never sold my original position. So with Bitcoin, I would probably still have 100 shares. That's my thinking. Yes. I would ride it up and sell. I would do it again. I would do it again. I would do it again. I would never sell my original position in it. And you know what? Janet, I shouldn't say her name. You know what? My office manager at the time and I were looking at doing like $100 each. Not a thousand or ten thousand. A small bit of money. And so we messed up this crypto. I've, I've been, I've been reading, I've been looking. It's a little bit different twist for a couple reasons. And you know what? If it's a pump and dump like the others have been so far, so be it. I'm on the ground floor. And if it's not, so be it. What I put in was an amount I expect to lose. It's legalized gambling. And in my opinion, that's all investing. Unless you have a startup business, unless you do certain things. You know, I'm still an old school believer in diversification and moderation, but I think that the system is so rigged that I think if you're, if you're taking money to a online broker or to Wells Fargo Financial Advisors or wherever you're taking money, just come with me. We'll go to Desert Diamond Casino, conveniently located on the Loop 101 in Northern. Because I can show you a way to double your money or lose it all right there. And you'll have so much more fun anyway.
[00:08:18] Speaker C: So why are we even waiting for a stock market collapse? Just take it all to the casino.
[00:08:24] Speaker D: I know, and if you want to go, we'll take an office field trip. We'll go with you.
[00:08:28] Speaker C: Well, and it's a business expense. Let's talk to people about write offs.
[00:08:31] Speaker D: Correct. I'm, you know, we're not targets enough for an audit. Let's go ahead and throw in here. Let's write off some roulette, see how it goes. All right, so enough of the crypto talk. But if you want to know more, do reach out to me and I'll tell you which one I bought and how to get it.
I have an apology. The one and only Sam Davis. I, I really feel bad about this. He gave me a little bit of homework. He gave me homework a few weeks ago to watch a Netflix series called Black Mirror. And I've been doing great. I'm about, I don't know, 10 or 12 episodes in. And it's an acquired taste, but if you like, you know, things, it's fast and furious. So a little bit sci fi ish, a little bit horror film ish. I mean, it's kind of a bunch of genres in one, but it's fascinating. You'll get to pick and choose what ones you like and what ones you don't care for. So. But Sam did me homework just last week and as we started recording, the light bulb went off. I'm like, oh, shoot. So Sam said that my hometown, the city of Chicago, Illinois, since 2008, they have been leasing the parking meters the city of Chicago has been leasing the parking meters to the United Arab emirates on a 75 year lease.
So apparently it is 70. And my notes are sketchy here because I was going to dig into this because I find it shocking that I've never heard this, but apparently it was what, $36,000ameter. They've already made $1.15 billion since 2008 and they're into it for 75 year lease. Chicago, your property taxes should be the lowest in the country.
You've got Arab money coming in. So, so, Sam, I do apologize. I really meant to dig into that and then I just found my note from last week telling me to.
[00:10:20] Speaker E: No, I think it's an interesting story. I encourage people to check it out. Just check out the. What the city of Chicago did with their parking meters in the 08 financial crisis.
[00:10:28] Speaker D: Pretty interesting.
[00:10:30] Speaker C: And how did, yeah, how did they even get involved? How does the city of Chicago get involved with.
[00:10:34] Speaker D: How did Arizona sell their, how. How do these places sell their capitol buildings and lease them to China?
You know, we just had our governor last week or early this week, I don't know when. Today, by the way, is the 6th. I'm sorry, it's the 5th of June, 2025. Our governor just turned down a bill to basically say China can't buy more than like 30% of some land holdings. And I, I mean we, this country has sold out so long ago.
And, and will it come back to haunt us? I mean, maybe no.
[00:11:07] Speaker C: Actions have no consequences.
That's the whole point of this show.
[00:11:11] Speaker E: What's interesting, like the cities like do different things with services, right? Like Where I live, the county runs waste and water, but in many parts of the country, that gets outsourced to companies like Waste Management, you know, third party, to, like, go through the neighborhoods and pick it up. I think in this case, the city of Chicago was previously regulating and enforcing parking in the city, and they just decided to put that ability up for auction.
They got a billion dollars, but made a really bad deal. It's almost like the Louisiana Purchase of bad deals.
[00:11:43] Speaker C: You win some, you lose some.
[00:11:45] Speaker D: Right? And I know where this ends. I need to buy more of the crypto that I just invested in because I want to lease my portfolio out. So lot going on, I'll move on. But again, Sam, I apologize. I meant to have a good rundown of that.
So yesterday, I know our current administration said that they're going to Block 12, the residents of 12 different countries from coming here to the United States. I was thinking about that.
I think when you, when you look at the big beautiful bill, when you look at everything going on, I think we should close the country for a while and deal with our own stuff, like 100% of the way. Like, if you're from Canada, you cannot come in Mexico, you can, you had a good run. You had four years where you could just walk in. So I, I, I mean, China, China.
There was a conversation this morning, Donald Trump again on June 5th with Donald Trump and Xi, Xi, whatever his name is. And they're still talking about the tariffs and the fair trade. They're saying there were trade now, not tariffs. I noticed. And, and it's like, we, we need to worry about this country for a while. You know, you got a couple in Michigan where the guy came into the country with some deadly fungus. Did you hear about that? I mean, there's a guy that brought in a death deadly pathogen to his wife or girlfriend or whoever she is, that, that works at, like, I don't know, University of Michigan or wherever it is, but in Michigan, we have so many issues going on. And I did notice that Trump also is basically saying to Russia and Ukraine, you know, maybe I should just let him fight, like, not be involved for a while. Let him fight it out, you think? We have so many problems of our own in this country, and yet we're still the world's piggy bank, the world's police. We're, we're everything to everybody. And it's really getting tough. You know, Elon Musk and Donald J. Trump, apparently they broke up.
I don't know if you heard about that, but apparently they were at low friction right now and they're not doing very well together.
Basically, Elon Musk is saying he despises the big beautiful bill. And part of the reason we're a financial show underneath the surface. I know we bring you current events and how they're going to affect your finances, but we're still financial guys. And you would think the number one thing that I would have covered over the last three years, you know, we cover the bills under Biden, you know, the. What was it? The.
I don't, I don't remember. The massive bills. And we cover those a bit.
The big beautiful bill. I can't wrap my mind around it. We're so broke. So anything to me that doesn't start with we're going to screech to a halt on spending right now.
I still think future generations are in deep trouble. And Elon Musk, who was going to make sure Doge stopped. We didn't just want to uncover, we wanted to stop the reckless fraud, waste, abuse. So that's on hold now. So now we're not going to do that.
And now we're going to pass another big bill. We don't have a budget. I don't know if anybody realized that we still don't have a budget in this country. How in the hell do you run a family, a church, a country, a company? How do you run anything without knowing how much money you have, where it's going, what's coming in? You know, I am basically self employed. We have an office, but we're different entities in our office. I am a 1099 employee. I have to use QuickBooks, I have to do a profit loss statement every year. I have a CPA that does my personal tax return, schedule C business tax return.
You have to know what you're doing. This country has no idea. So I mean I'm just, and I hate to get crazy on this. Don't close the country to 12 new countries. Close the country to 193 countries. Let's stop breathe and reorganize this country quickly because it's going away. You know, you got.
[00:15:31] Speaker C: Now you think stopping immigration is the key to all of this right now?
[00:15:34] Speaker D: Yes. I honestly believe right now we have to keep on the deport the deporting side, stop the immigration. No, you know why? Because this stuff with like the Chinese people coming in the COVID 25, I think there's a built in excuse for another pandemic. I think there's way more on the table. And I also think looking at the News every day, Anthony, which I do closer than you, but I'm sure you're somewhat aware last week, the terrorist attack in Colorado, people that overstayed their visa. There's a lot of people here that might mean to do us harm. Let's focus on trying to find them. Let's. I don't know, let's clean our own house, let's beef up our own borders. China is still on the table to invade Taiwan. That's still a thing. So that could happen. Russia and Ukraine. Now Trump's saying let him fight it out for a while. You know, it could go nuclear.
I know that Russia has organized their. Their nukes and prepared their silos. From what I can tell, it's just everything scary. I don't want to deal with foreigners. I want to be a complete global racist for a little while. I don't. I want to slow down and worry about our money right now.
You know, when I brought up Alex. Here's a. Here's a segue and a half for you. When I brought up Alex Baldwin last week. If you were with us last week, I brought that beautiful creature up. You know, he says the quiet part out loud. He thinks we're going to go into civil war.
And if you say that, well, I mean, you didn't get the implication from that. Like we're. We're hanging by a thread.
[00:17:04] Speaker C: Why is it okay for you to build all your pillars and talk about that on the show, but Alec can't say it?
[00:17:10] Speaker D: Who said he can? I gave him kudos for saying it. I. I brought up the fact that he said it. I didn't just ignore it and sweep it on the carpet. I thought it was great that he said it. I think he's a ridiculous species, but I think it's great he has opinion. He's welcome to it. But I think a lot of people, unlike you, I think you're still so stuck in normalcy bias. Do you want me to read what normalcy bias is today? I'm gonna do that. I'm gonna find it. So I think. You think nothing could ever happen here. I think we are so ripe. When we started three years ago.
[00:17:38] Speaker C: Shutting down the borders is absolutely insane. It's a country built on immigrants. So now we're just. Now you're just gonna be uber nationalist now? And we're a little while. Everything.
[00:17:48] Speaker D: Yeah, yeah, for a little while. When the time is right.
[00:17:51] Speaker C: Why I don't talk on this show. I'm going back to sitting in my corner and I'm thinking I don't even know how to talk to you.
[00:17:57] Speaker D: And I love that. I don't need you to. We'll talk later. And you can scold me like usual. The parent has become the child and the child the parent. So. No, I mean, I just. What I'm getting at is I'm tired of everything and bringing up Alec. Did I say Alex earlier? Bringing up Alec Baldwin. Alex, Alec, who cares? You know, whichever Baldwin brother it was that I brought up last week. So, Stephen, maybe it was Steven. Isn't he the smart one, the grounded one? Anyway, so now it ramps up on steroids. I'm not the only one that think this ends with civil war number two.
Jamie. I'll say his real name. Dimon. Jamie Dimon this week is basically saying the enemy without is not the promise. The enemy within.
Sam, do you. Can you play the clip that you gathered for us? Can you play the long one first?
Let's have people hear from his own lips, his own mouth. This is Jamie Demon. And then I'll get to an article, I'll get to a couple articles I found on this matter. But Jamie Dimon, who should have very little to say on our. On our social fabric. He knows what's coming. Everybody, it seems like, except for Anthony, knows what's coming. Basic, straightforward question. And that is what's your biggest worry right now?
[00:19:17] Speaker F: The way I look at it, the big picture is the tectonic plates are shifting. We got to get our heads wrapped around that. Those tectonic plates of the geopolitics with these terrible wars, terrible proxy terrorist activity around the world, North Korea, the potential proliferation of nuclear weapons over time, which is the greatest threat to mankind. And then you have another. The other tectonic shift is the global economy. So the global military umbrella of America. And then the global economy, where trade is a part, you know, the other parts are, do people want to partner with you? Do you have your alliances, you have investment agreements and all those various things, and they're changing. And then our debt, which you just heard a bunch of folks talk about eloquently, it's large. And it's not just us. We added $10 trillion in five years. We have, you know, you had Reagan up there talking about deficits. The debt to GDP was 35%. The deficit was three and a half percent.
Today it's 100% debt to GDP net and a deficit of almost 7%. Highest peacetime ever. And when the CBO does their numbers, which I don't really trust, by the way, they. They should do the stress test, like what happens if we go into recession at 7% will be 10%. And so we, we have problems and we got to deal with them. And, and then the biggest one underlying both, that is the enemy within.
I'm not as worried about China. China isn't, is a potential adversary. They're doing a lot of things well. They have a lot of problems. What I really worry about is us. Can we get our own act together, our own values, our own capability, our own management. What you heard today on stage was the amount of mismanagement is extraordinary by state, by city, for pensions, for. And that stuff is going to kill us. And you know, I always get asked this question, are we going to be the reserve currency? And no, you know, if we are not the preeminent military and the preeminent economy in 40 years, we will not be the reserve currency.
That's a fact. Just read history. You know, now I think we will be, you know, Warren Buffett here. We tell you we're enormously resilient. I agree with that. I think this time is different. This time where, you know, we have to get our act together and we have to do it very quickly. Someone said the government spends like a drunken sailor. And someone else said, no, a drunken seller spends his own money.
I forgot who said how.
[00:21:30] Speaker D: So Jamie Dimon, who is, I mean, he's probably, he's probably a fairly smart man. He's done all right with himself. I mean, he, you know, he is basically saying he's worried about this country. My bottom line, Anthony, the reason that I'm worried about borders and health care and politics and all the different stuff at once, if any excuse right now, if we have a bio weapon that comes in from China to the University of Michigan and it's released and there's a two or three day incubation like the movie outbreak, any major catastrophe right now, we are so on edge. We are so ripe for things to go off the rails. I just, I mean, I really, really am nervous. This thing with Jamie Dimon.
Let me give you a couple. And you know, I got articles. One of my online friends, Dave, sent me one from the New York Post. Michael C. In Sun City sent me one from Fox News.
Let me get to that one. Fox news.com on 30 May, JP Morgan's Jamie Dimon calls on us to stockpile bullets, rare earth instead of bitcoin.
Simi Valley, California. The United States should stockpile guns, ammunition and drones instead of bitcoin. JP Morgan Chase CEO Jamie Dimon said on Friday at an inaugural.
Easy for me to say. Reagan National Economic Forum in California. We shouldn't be stockpiling bitcoins, Dimon said when asked about how industrial policy is entwined with national security policies during a panel. We should be stockpiling guns, bullets, tanks, planes, drones, you know, rare earths. We know we need to do it. It's not a mystery. We should be stockpiling bullets. He continued, like, you know, the military guys tell you if. If there's a war in the South China Sea, we have missiles for seven days. Okay? Come on. I mean, we can't say that with a straight face and think that's okay. So we know what to do. We've just got to go about doing it, get the people together, roll up our sleeves, you know, and have the debates.
Dimon underscored during his address that he does not view China as America's top adversary and instead pointed his attention to the enemy within. That could lead to the US status as the world's leader. Crater. I'm not as worried about China. Dimon said. China is a potential adversary. They're doing a lot of things well. They have a lot of proof problems. But what I really worry about is us. Can we get our own act together, our own values, our own capability, our own management?
I mean, Anthony, do you kind of see what I'm saying? If we have a pandemic, if we have a civil war, if we have a financial collapse and we usher in the central bank digital currency, don't you see where the pain is going to be monumental? It's going to be for the rest of your life. It's going to be a different country.
And how do I tie that in with immigration? I want to focus in this country.
I don't want to focus on the big beautiful bill anymore. I want it to be scrapped. I know we're going to get to that, too. Marjorie Taylor Greene, I've got you on deck. I mean, right now we have to stop spending. We have to bring the temperature down politically. We have a lot of work to do in this country to avoid what I think is coming. Can we avoid it?
In my opinion, absolutely not.
Why?
This is going to be fun for me. Why do I see this so clearly? That we are in the early stages of Venezuela, or you name the country that's. That's had problems financially. Greece.
So because there is a little known psychological term normalcy problems, had nothing else to offer. What do we have?
[00:25:17] Speaker C: Fuel. That was it.
[00:25:18] Speaker D: What do we have to offer?
[00:25:20] Speaker C: Well, Everything. Right now we're the world reserve currency.
[00:25:24] Speaker D: And you, you think that's going to keep going in perpetuity, perpetually? No, I think that's going to keep going.
[00:25:29] Speaker C: I think it could change, but it's not going to change overnight. And it's not like we're going to go first to the very bottom of the pile.
[00:25:38] Speaker D: I, I think as bad a shape as we're in, I think we're going to go to the bottom pretty quickly. And, and who said it's going to change overnight? I was talking about it going away three years ago on the show. I was talking about seven years ago when you came in the office. I was Talking about it 15 years ago, you know, when, when you didn't understand what I did for a living. I'm not saying it's going to happen overnight. I always say it won't be next Wednesday. I'm just telling you I think it's a 40 to 50 year cycle down and I think we're in year 35. I think in the next five to 10 years you're going to have to give me great big apologies for always being mean to me.
And that's just at home. I even talk about here on another money show. I'm nine.
[00:26:13] Speaker C: So here we are. We're the greatest country in the world and we're still on top and all this and you're still miserable. So I don't want to be like that. Anyways, I don't think we're the greatest.
[00:26:21] Speaker D: Country on earth at all. What's that clip that you played for me? I can't remember the actor.
Is it newsroom? You know, we're last in education where this, we're, we're 36 trillion in debt. We've got a massive obesity and diabetes problem. You've got half the country that hates each other because orange man good or orange man bad. You had four years where clearly the leader of the free world was not in charge. All of this stuff that, that is wrong. And we're the greatest country. Oh man, I, I'd like to see the hell holes outside of this country.
Let's do this. Let's, let's take a break and then I do I want to talk for a second about normalcy bias because I think it's important. I know you hate when I bring it up, but that's all the more motivated.
[00:27:02] Speaker C: Asia, you don't accept that change is also a natural part of existence.
[00:27:05] Speaker D: Oh no, I accept it. I just, I think, I think the change that we're going to get is going to be shocking. And I think it's on its way rapidly. So why don't we do this? Let's take a break. Reach out to us if you would 623-523-0444 or you can email us. Team another money show.com we'll gladly sit down with you, be a second opinion, help you with your finances, give you questions to ask your broker, whatever you need. We did that this week. We helped a woman who's meeting with her agent. She wants some questions to ask. So we'll be right back. Thank you as always for being with us.
[00:27:42] Speaker B: Wouldn't you love another Money show? You would if it were as good as this one.
This is another Money show with J.R. and Anthony.
[00:27:54] Speaker D: Never die.
[00:28:00] Speaker A: 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 D: Welcome back to Another Money show. Thank you so much as always for being with us. We greatly appreciate it. As we always say, we're little tiny fish in a big pond and we need your help. We need you to go to our YouTube channel, go to YouTube.com, look up another money show. You know, check out Anthony's shorts. We are, we got 280, I think now, thousand views on our different videos and shorts. We've got over 600 subscribers. So we always say we're nipping on the heels of Joe Rogan at this point. So but we need your help, like share, subscribe, just help us out.
And if we can ever help you, one person, one couple, one family at a time, that's what we do during the week. So reach out to us. 623-523-0444 we have ideas. I bring all the doom and gloom which and all I'm doing is repackaging current events that I glean during the week. I don't make any of this up. I just bring it to you. I do give you some opinion with it because we're not journalists. So I mean, but if you're worried about things, we have solutions we can show you. If you're worried about having, you know, 1% coverage through the FDIC, we have, we have like a CD alternative with an insurance company, 100% guaranteed and we have alternatives for you. We can show you how to pay down debt. We can work with you on how much food and water to Save, we can work with you. Should you have precious metals, we have people to lead you to if you do need precious metals. So we have answers, not just questions for you. Anyway, I do want to touch on this with normalcy bias because I haven't done it in a while when I, when I say I think a thousand to one, don't understand what I'm saying, I see history, I see where we are currently. And I, and I try to look back 5 years, 10 years, 20 years, and then I try to look forward 5 years, 10 years, 20 Years. It's simple. Do I think things are going to be better, worse or the same? And unfortunately, the first five, six, seven years in the financial service industry, I didn't know enough to worry about this. I knew people should do a Roth IRA. I was passionate about that in the late 90s, told people do a Roth IRA when all you could put in was $2,000. Fast forward to 2025. I feel pretty smart for my clients that funded a Roth IRA every year. Because you know, we are 36 trillion in debt for taxes. So let me read the simple Wikipedia version of normalcy bias. Normalcy bias is a cognitive bias which leads people to disbelieve or minimize threat warnings. Consequently, individuals underestimate the likelihood of a disaster when it might affect them and its potential adverse effects. The normalcy bias causes many people to not adequately prepare for natural disasters, market crasher crashes, market crashers, wedding crashers, market crashes, and calamities caused by human error.
So during the break, my thing with normalcy bias, we don't like to be uncomfortable as a people. It's a lot easier to watch the Masked singer than it is to watch the news all the time. Not the news on TV. You got to go to YouTube, you got to go to Australia, you got to go to uk, to the BBC. You got to do a lot of digging to really find out what's going on in the world. But once you get the knack of it, it's pretty simple and pretty clear. You know, Anthony, somebody setting people on fire in Colorado doesn't show you some of the moral degradation in this country. Doesn't show you why I want closed borders.
[00:31:41] Speaker C: Wait, didn't we like just lynch people and tar and feather and hang people randomly? You know, 100 years ago to 200 years ago, this is anything, this isn't anything new. Jared. None of this is new. None of everything. Your father said, his grandfather said, complained about the next generation. Everybody's soft, everybody's this, everybody. It's only Getting worse. It's only. It's the same over and over and over again. It's just different. It's just different. So to say everything's normalcy bias. Like, you forget that things evolve and things change.
[00:32:14] Speaker D: I don't forget that.
[00:32:15] Speaker C: Yeah, you do, though, when you keep saying everything is normal is because of anything, is not fitting into what you feel the mold should be is. Everybody else has normalcy bias. But what about people that are like you, that are just too rigid to accept any sort of change and are just afraid of any change, period?
[00:32:33] Speaker D: I'm not afraid of change. I just bought cryptocurrency. Reach out to me and I'll tell you which one I bought. Well, let me. Let me. Let me give you an illustration because what you're saying. I get it. I understand what you're saying. I do, I promise you, and I agree with you to a certain extent. No, let me go for a second. Picture a funnel.
In your mind. Picture a funnel. We had the bottom end of a funnel for a long time. We didn't have the political division we had. And, you know, you've said over the.
[00:32:56] Speaker C: Years, we did have a civil war. So we have. We've gone through that.
[00:33:00] Speaker D: Can I go for a second? You never let me talk on the show. That's my biggest heartburn. It's always the Anthony show. Jared never gets to talk.
So that's actually hard for me to say that with a straight face. So picture a funnel.
Everything has gone along. You've said it forever. We had a civil war. We had a great depression.
We've been through nothing's new. Things change. They cycle. What I'm trying to get at is two things. One, we've never had them all at once. We are on the doorstep whether you want to see it or not, Anthony. Of civil war. Don't tell me we're not. If there's any kind of a. And I know, boy, your eyes are going to fall out of your head. They're going to roll so hard. If I bring up Muslim Brotherhood, if we bring up, you know, the fact that there could be a jihad or something like that in this country, we, you know, Russia, when I was a kid. This was before you were born. I'm sorry. So you didn't. You didn't get to see this. We had at school drills. We had to get under her desk. This is a true story. We actually had to get under an old metal with a wooden top desk in case Russia bombed us. We had. We had drills where we had to get in the hallway at school. We actually did this, Anthony and we had to put anything.
[00:34:08] Speaker C: You're saying it's so nothing has changed. We're living in the exact same.
[00:34:12] Speaker D: I'm saying nothing changes. But we've never had it all at once. Russia literally could nuke Ukraine right now and we're going to be brought into it. We, we, we literally could be. It's, it's not a cold war anymore. It's a hot war. Very, very.
[00:34:24] Speaker C: And then it could have happened then and it could happen now or it could not happen.
[00:34:28] Speaker D: We never had 36 trillion in debt. Did you hear the Jamie diamond clip that Sam played? We gained 10 trillion in debt. I think it was in the last year.
[00:34:37] Speaker C: Disagreeing on the debt crisis that we're facing. I've never disagreed on that. I've never disagreed that there isn't things wrong. But I feel like outside of just preparing yourself, I don't follow.
[00:34:48] Speaker D: That's what I do.
[00:34:48] Speaker C: Fear mongering.
[00:34:49] Speaker D: That's what I do. The fear mongering is because we have one hour a week to wake people up. I'm trying to get people to understand if you're like my beautiful bride, Sandy. Happy anniversary, Sandy. I better not let the show go by without a shout out. Today is our anniversary. So it's been over 20 years. I have no idea what it's like living with me. But good for you, Sandy, here you're a good person. So I mean the whole thing that Anthony. And you know what? I'm going to give you some credit here. You are right. I'm going to give me some credit. I am right. The answer is probably to meet right in the middle. Be prepared, not scared. Be proactive, not reactive. Guess what I did. Guess what I did, Anthony. Before you came in the office, guess what I did. I was paying down debt. I was buying precious metals. I was. I bought land before you came in the office out of the city. I did everything I could to be prepared, not scared. I rage on the show. I want to shake people. I'm not going to lie. I wish more people would at least see what I see and get prepared and then not worry about it too.
[00:35:54] Speaker C: Is all the people that do agree with everything you say but they haven't actually done anything.
I don't think they don't listen to any of them. I think there's a lot of people like that.
[00:36:04] Speaker D: We've told people they might want to have alcohol and tobacco for barter reasons even if they don't drink and smoke and then we know for a fact that they've gone and done it. They didn't mortgage their house to dump. So I mean, I think we've come a long way. The people that agree with me that we're in unchartered territory. Yes. We've always had this stuff.
Never this close, never this powerful, never this many. The people that agree with me, it's a niche, I'll give it that. But they really agree with me. The people that agree with you are wrong. So there's two kinds of people out there. I'm just kidding. It's nice to see you smile because, you know, we still, you know, people need to understand if they're listening to this, we still care about each other. I mean, if, if the, you know.
[00:36:45] Speaker C: What hits the fan, I agree with all the things that you're watching and you're concerned like, but have prepared. You know, I've done everything they needed to do. So there's.
[00:36:53] Speaker D: Why are we doing the radio show? What's the purpose of this show, Anthony? Is it an hour long infomercial? Are we trying to get people to do a Roth convers, you know, estate planning? Are we trying to get people to build generational wealth through life insurance? Are we trying to be an alternative to your bank money? Or are we here to sound alarms and wake up the people? What does Joe Jaquin say on our sister Salem station? I'm here to comfort the disturbed and disturb the comfortable. We have one hour a week to disturb the comfortable and that's what we're doing or we are really wasting our time. I spend 10 hours a week looking for stuff all bad. I glean out everything that's positive. We tried on the show to be. We told people come in and pet the puppies. We were going to work with the Humane Society and bring rescue animals to our office and not one single person came in for that. So, you know, I spend my 10 hours a week looking for how the sky has fallen and then I bring it to you in one hour so nothing will surprise you when it happens or else we don't have a show. We can change the show. I mean, if you get me convinced that this is the new norm that, you know, it's just the debt's going to go on forever. We're going to get to 100 trillion. We're not going to have a civil war because you know the next candidate is going to be a great one and we're not going to fight anymore. If you can convince me that I'm wasting my Time by sounding alarms. I'll do it.
I've been a financial advisor for almost three decades. You are an engineer by trade and you're good at what you do. Between the two of us, we could probably contend with any advisors out there.
We probably could match up with the brightest minds in the financial services arena. That's how I see it. I know that sounds a little conceited, but I really, My experience and your smarts, I think we could do pretty well, you know. You know, Sam brought up a little fun fact. We were originally going to call the show the Truth about Money. And the name was taken, it was reserved. So Anthony came up with another money show. Tongue in cheek, where anything but an hour long infomercial where anything but another money show.
So Anthony, I agree with you and I also agree with me and I think a lot of people side with you and people side with me. But I know my objective for one hour a week is to shake people the hell up. Because if you're doing what I'm doing each week and you're not preparing well, then you're just an idiot. Then, then you've got bigger problems. If people came in our office and we told them we think they should pay down debt and we think they should, you know, do some investing through dollar cost averaging, we think they should have food and water. Whatever suggestion we give them, that's our opinion. Then we brainstorm with them and if it's suitable and it's, and it's a good recommendation and they don't do it, that's on them. Oh man, we gotta, we gotta put our feistiness aside because I do have a couple of things that are fairly important today to get to and Sam is waving the time flag, so. But Anthony, I, I, my mission in life is for Sandy, you, Nick and Jay to have a good future. Sam, you're like one of my kids at this point. I've met you in person. We, we've hugged. You know, it was kind of creepy, but you know, whatever, we'll do it again. So I, you guys are like my kids too, Sam. And I want us to have a reasonable future. I, I honestly believe it when I say I don't give a crap about me. I mean, I've seen what I've seen, so. But I, I want the future to be bright for you guys. Sam's doing the heart. He's making the little heart.
All right, we got to move on a little bit. I want to at least touch on some of these articles. I'm going to go back to trying to scare people. So you get prepared, not scared.
So let's see here. Some of these I guess I'll just touch on. One is from msn.com on 28 May, US Department of Education cracks down on Stuart Stewart Hunston Freud's like, isn't that your father's name? The, the Department of Education cracked on my father this week. So. U.S. department of Education cracks down on student aid fraud. Cites nearly 90 million in erroneous payments.
I'm just going to read one line. The U.S. department of Education today announced significant actions and proactive measures aiming at ensuring the integrity of the federal student aid programs, protecting the American taxpayer contributions. You know, when people say you took out a student loan, you need to pay back and then other people say you shouldn't because it's predatory and it should have never happened. I mean, I see that gray area. I also know that we're learning through doge mostly we're learning the student loans that you got are federally. They use our tax dollars to, to pay this stuff, to give people money. So it's not like if we just write it off, Biden wanted to just erase it, like it doesn't exist. No, that's. You're erasing my tax dollars. So 90 million in a world of billions with a B in trillions. That seems like an awfully amateur amount, but it's important. I'm sad that Elon and Donald broke up because I really, really think this country better get its head out. I think we need to focus on our financial matters, stop spending, stop the waste and abuse. The people that are very angry now because in the big beautiful bill, they're going to roll back the SNAP program. They're going to, they're going to get rid of some of the fraud in the Medicaid system. Anthony, you and I even know somebody who's in the Medicaid system that's definitely a fraud.
It's. We're not saying that people that legitimately have needs shouldn't be helped. I've never said that. I think people that have a good screening process and they get to the system the right way, they need help. They need help. We're a compassionate nation.
There's so many people that are scamming the system. We had one guy, he since passed away. A neighbor of mine when I was in Desert harbor, He was getting VA, 100% Veterans Administration disability. He was also somehow getting like regular disability. The guy was making, I don't remember what it was, 80 or something grand a year. He was going to buy in his cigarettes. He was smoker, bought his cigarettes off the Indian reservations, wasn't paying his taxes. He cheated every system on the planet. That's what I want to find. So stuff like this, if we can cut out this, that's what I want to find anyway. Moving on. Here's one for you, just to get people going like I am. Here's from msn.com Also on 28 May, insurer Low Balls, Hurricane Helene claim payout. Most homeowners believe their insurance policies will protect them when disaster strikes. But that illusion shattered for Natalia Migall. Testifying before the US Senate, she recalled how Hurricane Helene ravaged her Georgia home. I love this because it's in Sam's home state. Only for her insurer, Allstate, to offer mere 46,000 for repairs, despite independent assessments putting the damage at closer to $500,000. Digging into Allstate's recent financial statements, Senator Josh Hawley questioned the company's decision to reward the C suite after boosting revenue and profits, while policyholders like Miguel struggled to get compensated for their losses. CEO Tom Wilson was paid $26 million, he said during the hearing. Ms. McGall can't get her claim paid out, but Tom, whoever he is, gets 26 million. Why is his salary a priority but Ms. McGall isn't? Unfortunately, McGall's case isn't an outliner. As evidence from policymakers and industry insiders piles up, lawmakers are ramping up their scrutiny of the $1 trillion property insurance industry.
It wasn't just policyholders who testified before Congress on May 13, but also claim adjusters, industry professionals who assess damages and estimate losses. Two of these adjusters tested testified that they faced pressure to lower their initial estimates, which alarmed the committee. We've just heard testimony here, sworn testimony from multiple adjusters that your company ordered them to delete or alter damage estimates to reduce payouts to make you profits, hollywood told Michael Fiato, All State executive vice president and chief claims officer, during the hearing. It sounds to me like you're running a system of institutionalized fraud.
No surprise he pushed back. Let's see, anything else important here? I have to notice that your profits have never been better. They're really quite extraordinary, he said. Fiscal year 24, all state had 64 billion in revenue. That's 12% higher than the previous year. This growth spurt isn't limited to Allstate. Property and casualty insurers pulled in a record $169 billion in profit in 2024, according to the a.m. best, a staggering 90% jump from the year before and more than quadruple the 22 earnings. So I'll end that there. But I.
[00:45:29] Speaker C: That's the single most important part. Part right there.
[00:45:31] Speaker D: Yes. So while we're paying more and people are struggling in general, the middle class, which I've always said, the rich get richer, the poor hover. And the middle class is shrinking on steroids while the middle class is dealing with higher egg prices. Feel bad for Hickman Farms right now. They're closing down. So Arizona, get ready. Your eggs are going to go up again. So while the middle class is struggling to make ends meet and you can finance doordash. That's a real thing. Look it up. You can finance doordash. At this point in your life, the insurance companies seem to be doing all right. You know, I mean if you're running all state, you're getting 26 million here. That's. That's pretty good. It's not too shabby. I could live on 24 million here. So if you want to cut your expenses, bring me on. Get rid of that guy. So I just. People need to get mad. What is the thing? I'm mad as hell. I'm not going to take it. People need to get mad at everything. Everything, Anthony, just like me. I'm mad at everything.
So let's get to another insurance company real quick. S and P downgrades USA Ratings so usaa, which is, you know, that's one of the companies I deal with. So let's see here. In December 2024, the officer of the Comptroller of the currency issued a consent order against USAA mandating that the bank addresses various deficiencies, some of which existed and were highlighted in prior OC orders in 2019 and 2022 along with some new ones. The OCC requires the bank to take comprehensive corrective actions to enhance its risk. Government governance compliant Risk management, Information technology management, Fraud Risk management and third party affiliate Ba Ba Ba. So anyway, so usaa, you are also under fire for your shenanigans. Let's see here. According to the S and P, the property and casualty operation reported a pre tax income of 4.5 billion in 2024 and 912 million in the first quarter of 2025, making a big improvement compared to the last three years.
Let's see here. In yesterday's announcement, S and P also reported that the rating agency lowered its long term counterparty credit risk. Blah blah blah blah blah. So there's another insurance company. If you're not mad at insurance companies? I don't, I'm not sure how to tell you this, but they're great unless you ever need them.
Should we jump into the banks for a minute? Haven't hit the banks today and I think that that's important. So here's something on May 30th from the Daily Hodl for some of these numbers. There's no way people can absorb this or wrap their mind around it. $413 billion in unrealized losses hit US banks as FDIC warns rising rates, adding pressure. US banks are now saddled with $413.2 billion with a B in unrealized losses on their balance sheets.
Rebel Coal, who worked in the Federal reserve system for 10 years, tells Fortune that today's levels of unrealized losses represent a serious ongoing danger for lenders. You think all it takes is one bad news story about any of these banks and we could have another banking crisis like we had in March of 2023. A lot of people are out there, including another money show warning you to keep what you need for operating capital in your bank. We're telling you, I know you need to pay your mortgage or pay your rent or pay your car payment, pay your insurance to USAA or Allstate. They rely on you. But we're telling you there's other solutions to protect your money. We, we have them for you. So let's see here. I'm amazed we haven't had one since then. They're talking about Silicon Valley bank and all that unrealized losses represent the difference between the price banks paid for securities and the current market value of those assets.
So if we had a different president, you know, they were talking about unrealized gains. They were talking about taxing unrealized gains. Like say you bought your house for 200 grand, now it's worth 400, but you haven't sold it. But they could start having you pay taxes on that spread.
So things could be much worse. There's a moment of positivity for me, Anthony, for you. So things could be worse.
Let's see. Here's something else from the Daily Hodl. This is on the 31st of May, Billionaire with a B, Warren Buffett pours $305 billion into safe haven assets while dumping states in Citigroup, bank of America and Capital One. We're always slamming the banks, but Warren Buffett's a pretty smart dude. Just called Warren Buffett a dude. That dude is pretty smart and he is being care for the banks we told you about B of A last year, Coca Cola, some of his big companies. So billionaire Warren Buffett has funneled 305 billion into a safe haven asset class while slashing stakes in bank and giant Citigroup, bank of America, Capital one. The new U.S. securities Exchange Commission filings show Berkshire Hathaway's holdings in short dated Treasuries increased from 286 billion to 305 billion, a 6.64 increase.
Who cares? Berkshire's push for yield on its cash comes after the firm offloaded 3.2 billion worth of shares in the three banking giants last quarter. Filings now show that the investment firm fully exited Citigroup after dumping its remaining shares worth 1 billion. The firm also sold 48.7 million bank of America shares worth about 219 billion and cashed out 300 shares in Capital One, which were worth roughly 46 million. Do you remember when Michael Burry from the movie the Big Short, remember when that dude was trying to tell you there's an issue with mortgage backed securities, Collateralized loan obligations, collateralized debt obligations. There's some really smart people, Jamie Dimon, Jamie Demon, Warren Buffett, that are telling you get out of the banks, be very careful. The banks be very, very careful with the stock market. I'm just, that's my thought, that's my opinion. I don't know. I don't have a crystal ball.
I did pull up the FDIC statistics at a glance yesterday and I noticed that we have some good news. The depositor insurance fund went up a little bit. Remember when I was saying last year it was like at 1.2% coverage, it's up to 1.31.
So if you have $100 in the bank and we have to exercise the 2010 Dodd Frank regulation and we do a bail in, if you're not familiar with that term, look it up.
If we have a bail in for $100, you are going to get $1 is what they have in coverage. I have a feeling it'll be first come, first serve and you're not going to get squat. But that's just me. So anyway, so if you feel like you're safe, reach out to me and I'll give you articles. I'll give you ways to find everything I say.
I know we're getting short on time. So let me hit one more thing, Anthony, and then I'll let you take us away. So this is from the Hill on 3 June.
Representative Marjorie Taylor Greene out of Georgia. Today's A big day for Georgia and the Diamondbacks yesterday beat the Braves is calling on Senate to eliminate a provision that would ban the state regulation of artificial intelligence from President Trump's big beautiful bill, arguing it violates state rights. When we did touch on the bbb, one thing we didn't bring up was some of the weirdness in there. It's like a thousand 116 page bill, so it's kind of hard to get through. So let's see here. Full transparency. I did not know about this section on pages 278 and 279 of the bill that strips states the right to make laws or regulate AI for 10 years. Green wrote on Tuesday in a post on the social platform X.
Yes, Sam, that's correct. They did say the bill was big. As Elon Musk says, it can either be beautiful or can be big.
So, and let me just summarize this because I know we're getting short on time.
The federal government aren't those are people that kind of oversee the post office, aren't they? The people that, you know, they, they got us involved with the Affordable Care act, aren't they the people that in charge of the irs, you know, that used to flag the accounts of conservatives, aren't they the people that we all kind of agree with now? I don't care what side of the aisle you're on, you probably favor a little bit smaller government at this point. You, you probably understand that they are a behemoth that can't be controlled. So for 10 years they're taking away states rights to deal with AI and they're going to make it a federal program.
Sorry.
You know, my whole thing about the BBB is, is I want it to say we're going to immediately cut spending, we're going to get refraud. I want it all to be financial.
But on AI, I don't know. I mean I should have saved a little more time for this. But I can tell you right now it's whenever the federal government gets bigger through a bill and not smaller, it, it perturbs me.
All right, Anthony, I think we've run out of what I have to say for today.
[00:54:40] Speaker C: Oh good. I don't have anything to say. So give JR a call at 623-523-0444. You can reach
[email protected] or
[email protected] and I'll just forward the emails over to him.
Find us on the web anothermoneyshow.com Listen to past episodes There's a little contact box on there too, you can find us. So if you have questions, if you want to tell me I'm wrong too, please reach out. We'll talk to you next Saturday at noon and at 5am on 9 60.
[00:55:19] Speaker B: The Patriot thanks for listening to another 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 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.
