[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.
[00:00:20] Speaker A: Get set for another hour of the.
[00:00:22] Speaker B: Latest financial information and economic news affecting your bottom line. J.R. and Anthony are committed to helping.
[00:00:29] Speaker A: More Americans like you optimize their inc. Reduce their tax risk and reach financial freedom.
[00:00:36] Speaker B: So let's start the show. Here are your hosts, Anthony Correio and JR Rochford.
[00:00:42] Speaker C: Here we are, your hosts Anthony Correjo 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, Arizona. And we are taking that break to bring in news that you may not hear on those other financial shows where the last thing you need is another money show. But we appreciate you being here and don't we Jared? Time for J.R. to come in and yawn and exhaust already putting up with me. It's this early in the morning.
[00:01:13] Speaker B: I've had enough of you. That is true. So yeah. Thank you so much as always for being here. Hopefully today is entertaining and enlightening and informative. We always start with shout outs.
What I really have this week a lot of you are setting appointments and we greatly appreciate that. We're actually getting to meet a lot of our listeners and and that's been exciting. We had a couple people last week from Mesa so we're actually fairly valley wide.
Two of them. There was a man and relative is that came in drove all the way from Mesa. So if you're listening we appreciate that now you know we're real, we exist, we have an office. You know we'll meet you via Zoom. The other Mesa appointment was via Zoom. Yeah, we will be accommodating to you to make it easier but we're just glad to meet you. If you've listened to us for any length of time, at least one time prior to today, you know that we are very different.
Our goal is to make sure you are prepared and not scared. Make sure you are proactive and not reactive. When it comes to financial planning, we actually do that. That's what we do in the office. On the radio we sound alarms. We're about current events and how they are likely to affect your finances, your future, etc. But in the office we focus on planning over products and education over sales so come meet with us. We'd like to help you. One person, one couple, one family at a time. With that said, I don't. I guess I'm going to get it out of the way because it's on my mind. There was another shooting yesterday. Today, by the way, as we record is 28 August and every person on the planet's covering the shooting. So I'll make it brief. I'm tired of it. I'm tired of the politicians.
It barely happens and you're talking about taking away guns. You're going to go after an inanimate object instead of mental health and psychotropic drugs. And I'm tired of it. I actually think it's almost time to. As long as they're willing to get trained, let's start arming the citizens so less of this happens. Let's start getting resource officers at every school. You know, I'm tired of it. And you politicians. Jen Sac, I'm a name you by name because I was disgusted hearing you yesterday. It's tiring. It's, you know, and a lot of yesterday what got brought up was thoughts and prayers. I'll give you my quick take on that. Yes, we still should continue to offer our thoughts and prayers to people that are, that are grieving and are hurting and are struggling. And I'll tell you why. And Anthony, we've made light of that in the past. I'm going to, I'm going to rename my part of the practice Doomsday Planners. And you're going to name yours thoughts and prayers Financial tnp. But you know what, for people that are Christians and believers, the prayers are very important. You know, and the rest of us, we should have people in our thoughts. But I'll tell you what, you know, these people out there yesterday saying that that doesn't go far enough anymore. Now we need to seize the weapons. You have no idea what you're saying. And by the way, how does it relate to financial matters? Hawaii on another money show. What do we talk about it? Well, because I told you, we talk about current events. But it does. You know, we had a stabbing where somebody passed away in Maryville last week. Somebody got stabbed at U of A. And it's all over the place. So it makes you less safe. Let's just, let's boil something down financially though. What are the costs of the media swarming yesterday around Minnesota? What are the costs of burials for the people that passed away?
I know in Phoenix, you know, if you have the luxury of living in The Phoenix area. Every summer you get to hear about car washes because people don't even have a burial policy for their kids. Adults, they don't take care of their final expense planning each. There is a cost, even if you don't see it on the surface. So there's the cost of human life and mourning and there's also a financial cost and there's a toll it's taken on people. Should I breathe now? So if you get a chance, go to the old usdebtclock.org today I'm working on my segue abilities.
I, for the first time in three and a half years, I got called out by a loyal listener on some misinformation I gave out last week. And I'm not going to shy away from it. I read articles every week. I watch YouTube videos, I have bunch of different email subscriptions. So I glean this news from other sources. I don't make it up. One of the things I did last week, I said something erroneously and I want to rectify it. I said that the PE ratios are at all time highs. They've never been this high. That is not true. The loyal listener who shall remain nameless. I thought he was anonymous. Turns out he's convinced me he's not. So anonymous. We still want to meet you, we still want more information, we still want you to send us other stuff. But anyway, so this loyal listener said that's not true. It's actually like the third, we're actually at like the third highest we've ever been and I apologize. I actually heard a guy on another financial show say that over the weekend and I, and I thought yeah, I mean, yeah, I mean that's true but it's not true and I didn't verify properly. And I apologize right now you for catching that.
[00:05:59] Speaker C: Not catching it. Good for the listener. Catching and calling you out.
[00:06:02] Speaker B: Oh yeah, absolutely. And I, I have said before that, you know, I mean we, people don't call us out because what we do, we, we. When I bring an article, I try to find two or three sources that verify what I'm bringing to you. And on this one I just, I said it and it was incorrect. But I'll tell you what, it prompted me to dig in a little further and the loyal listener also sent a graph to me.
It's A S&P 500 price and earnings ratio graph and it shows that we have had a couple higher P ratios. The usual suspects. Around the tech bubble things got kind of sketchy. 2008, things got pretty, pretty Sketchy. So you know, yeah, I can understand how that happened. Anyway, so then I start looking for my own charts and I see that there's some confusion.
The chart that the listener sent was an S and P chart. There's also something called the Cape ratio. It's a little deeper into financial planning. So if you're, if you're more in depth on financial planning, you've probably heard it. It's also called the Shiller PE ratio. If you put those side by side, one takes an annual look at PE ratios, one takes a 10 year look back. So it's very interesting. And I'll just give you the quick version of the Cape or the Shiller. It is. It assesses the stock market's pricing by adjusting past earnings for inflation over a decade. Popularized by Yale's Robert Shiller, it gives investors insight into whether markets are undervalued, overvalued based on historical earnings data. So I like the Shiller index because it uses a 10 year window. So it's a little more broad. And then I kept poking because I am, that's rabbit holes are big for me. And I, and I found something that I've heard over the years that I really think you should be aware of. And then I'll get away from financial matters. So there is something called the Buffett indicator and you need to look this up. The Buffett indicator is also known as the market capitalization to GDP ratio.
It's a long term valuation indicator for stocks that has become popular in recent years thanks to Warren Buffett. Back in 2001, he remarked in a Fortune magazine interview that it is probably the single best measure of where valuations stand at any given moment. It is a measure of the total market value of all publicly traded stocks in a country divided by the country's gdp. And it can be used as a way to assess whether the country's stock market is undervalued, fair valued or overvalued.
So I will tell you something, loyal listener, if you're listening, I really hope I did this verification correct. We are at the second highest it's ever been in the month of August 2025. Once earlier in 2020, around the big Covid time, this thing got higher.
So let's see here.
Well, I guess I don't have to go too deep into that, but Yesterday on the or, I'm sorry, two days ago when I researched this, it was at 213.
So it is very high. It is way, way, way overvalued. I guess the point is you Know, you've got a country who's 37 trillion in debt, you've got banks that have no money, run a fractional reserve system which In March of 2020 the government said, oh, you don't have to worry about that. You don't have to keep any reserves. Think about how insane that is. Banks, you can take all your money, put it into mortgages, reverse mortgages, business loans, mortgage backed securities, derivatives, whatever you want. We, we don't care if you're solvent. You know, we'll print money. We have a money printer. So I know the world's fragile and loyal listener. You know who you are. Thank you for catching that. Hopefully I don't do that again.
I want to get into something kind of what I think is probably the most important thing for the week. Just sort on a run of time and then I'm going to get Anthony involved because apparently there's something he's passionate about. I know I have four articles on it and he sent two of them. So I'm sure he's passionate. So let me share with you something that's kind of important. I have an article on it from the Gateway Pundit on August 25, the title is President Trump Fires Biden Appointed Federal Reserve Governor Lisa Cook Amid Mortgage Fraud allegations.
I do want to. And in this article, Anthony, you'll like this. They shared the actual letter from the White House dated Aug. 25 to the board of Governors. So, and I just want to read a little bit of this letter because it's pretty interesting. Dear Governor Cook, pursuant to my authority under Article 2 of the Constitution of the United States and Federal Reserve act of 1913 as amended, you are hereby removed from your position on the Board of Governors and the Federal Reserve effective immediately. The Federal Reserve act provides that you may be removed at my discretion for cause. I have determined that there is sufficient cause to, to remove, to, you know, remove you from your position.
Let's see here. For example, I'm skipping ahead in the letter.
For example, as detailed in the criminal Referral, you signed one document attesting that a property in Michigan would be your primary residence for the next year. Two weeks later you signed another document for a property in Georgia stating that it would be your primary residence for the next year. It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both. The Federal Reserve has tremendous responsibility for sending interest rates and regulating reserve and member banks. The American people must be able to have full Confidence in the honesty of its members entrusted with setting policy and overseeing the Federal Reserve. Let's touch on the big picture view for this for a second. First of all, I looked it up. The President has every right to fire somebody on the board for cause. The federal law allows it.
This is very uncertain times because the President has been trying to get Powell to lower rates. Another Fed board member resigned recently.
He's going to fire Lisa Cook. She is countersuing him. And in the counter suit, from what I heard this morning, she's not saying she didn't do this. Let's talk big picture for a second. The people that are in charge of our inflation and our dollar and the banks, first of all, abolish the Fed. I should have started by end the Fed and I was remiss in saying that the people that are in charge of our monetary system, do you want them to be crooks? I don't even like the fact. I want them to like a Catholic priest. I want them to have a vow of poverty. I don't want her to have two houses in two different states that luckily are both her primary residents. I'm not sure how you. Maybe she's a clone. I don't know. So, you know, here's another case of the haves versus have nots. And the haves always do whatever the hell they want and they have nots. Anthony, Sam, you, you guys, me, we would be in trouble. We would be in trouble for this. I don't know what would happen if it's a fine or jail time or what would happen. That's mortgage fraud. You can't do that. So the people that are setting rate policy in this country, they can do it. I'm glad she got called out on it.
So let's, and, you know, let this sink in for a second. Little people that are listening to us and not, you know, big dogs that, that are, you know, going to happy hours with Lisa Cook.
What's so weird about the timing right now? If this woman leaves the board, this is pretty much, I mean, basically Donald J. Trump is going to be able to stack the Federal Reserve with people that want to lower interest rates.
And I know, Anthony, I have talked about it. There's two sides that coin. Another loyal listener. Jason, you and I have aired it out. You want rates to come down. Anthony wants rates to stay up or go higher. I mean, I see both sides of that coin. I think we better be very, very careful right now because of the inflation.
The Fed says we need to be at a target 2% inflation rate. We're not there on any measure you use. We're not there. So why are you talking about raising rates? I'm sorry? Lowering rates. You know, I don't know. I'm more worried about inflation than I am the rates for credit card debt. Sorry, but you know, the president needs this to happen and I get that and I want him to succeed. So I'm torn on this.
Let's see. I'm going to read one last thing.
[00:14:49] Speaker C: In theory, right, Rates will go down. So it's easier for the government to pay off its debt. Well, they're not going to. They didn't when they had zero rates for 15 years. They don't care. It's just going to be to inflate this bubble until it pops.
[00:15:04] Speaker B: Yes, and I think we're getting closer and closer to popping. That's, that's the main reason I want to keep this show going for a little bit longer. I would like to be here when I can tell people we gave you three and a half years of giving you instruction on how to buy hard assets, pay down debt, you know, get under the radar, buy fixed instruments so when the money in the bank gets seized via a bail in you, you don't take too big of a part in it. I do want to read one more thing from this and then I'll move on. So while the property was listed for rent, so this goes further. So one was her primary residence, the other one she was renting.
A review of Ms. Cook's federal government financial disclosures for the year 22 and 23 indicate that she has not disclosed any rental income tied to this address.
So not only are you being implicated in mortgage fraud, now you're not declaring income from a rental and you are with the Federal Reserve. Did I mention I think we should end the Fed? My inner Rand Ron and Rand Paul are coming out. You know, one more thing about the Federal Reserve, just in case you don't know this. Let's say you're not a financial, you know, an astute financial person. The Federal Reserve is private bankers. It's not federal. And they damn sure don't have any reserves. So there's, there's that. All right. I'm passionate about that, but I guess I will move on.
Oh, speaking of inflation, little sideline just because I don't want to. I don't have any articles for you today that I need to go over Venezuela, watch Venezuela very, very closely. Apparently we have about 4,500 troops right there by the Venezuelan area. We Moved warships and a whole bunch of military hardware. Venezuela is calling up 4.5 million. I think I read militia and like reserves and military and civilians and troops. And Trump has a 50 million.
50 million. If any of you are going to vacation in Venezuela soon, hear me out. It was 25 million. It just got bumped up, I guess yesterday, the day before. $50 million bounty on Maduro's head right now.
Not to kill him. Settle down, kids. If you're on vacation Venezuela, but to make sure we incarcerate him. So, and what's that about?
Tds, the trend. We haven't talked about that. Well, the drugs, the drugs that Venezuela is pushing towards this country is what Trump is trying to eradicate. So watch Venezuela because, you know, I mean, we're not in World War three with, you know, Israel and all that and Ukraine and Russia, but maybe Venezuela, that'll bring on World War iii. Don't know. But watch Venice way more closely. So let's get to what Anthony's passionate about.
Anthony, you were on a tear this weekend. You sent me several articles. I want to hit one first real quick and then I want to get to a specific company that you want to talk about. So this article you sent me was from the 20th of August, from SF Gate. I imagine that stands for San Francisco Gate, but I don't know.
Bay Area. Yeah.
All right. I think I just got my own answer. Bay Area tech titan announces layoffs just after strong revenue report. I love that you got a good revenue report. What should we do? Let's can the people that help make it happen. But something about this article that I don't know if you picked up on. Anthony, let's see here. Cisco, the San Jose based technology giant has announced another round of layoffs affecting Bay Area workers, making a familiar pattern of, of reporting skyrocketing revenue followed by drastic job cuts. That's great. The filings came the same day Cisco releases fourth quarter results. I won't read the numbers. Let's see here. Interview with CNBC CEO Chuck Robbins. Chuck, if you're a loyal listener, correct me if I get this wrong, but you addressed AI technology in the company's workforce. I just want. Here, wait till you hear this. This is from the CEO. I love this. I just want our engineers. We, we have today, the ones you didn't fire. Is that what you mean? To innovate faster and be more productive. And that gives us a competitive advantage. I was in the military. I remember the old theory of, you know, work harder, don't work smarter. I Mean, you know, everybody wants you to do more work with less people, less time, all that. Robbins said if AI keeps advancing at Cisco, the company could possibly hire fewer employees. That's true. Cisco did not respond to SF Gates request for comment on the latest rounds of layoffs. I'm guessing not. This is the part that really, really poked me. The AI boom isn't just specific to Cisco either. Some AI startups have openly admitted to replacing human workers with AI technology.
Legacy tech companies like Microsoft have joined the trend with mass layoffs or slowed hiring as part of an effort to invest more in AI. Anthony, I'll turn it over to you in just one second.
If you're fighting cryptocurrencies, I got news for you. You can say it's air and a Ponzi scheme and a tulip and a BB baby and all that, like we did for years, all you want. It's coming.
I have some more articles today to prove that it's coming. Actually, I have some proof now that it's kind of here, but it's coming. AI is coming. It's going to take you from your job. How are you going to handle it if you're in your 20s, 30s, 40s, 50s, nowadays, in your 60s, if you're not in your 70s, wake up. AI is going to replace you. A lot of what I listen to on YouTube is saying, you know, I mean, doctors, lawyers, things that they can replicate the services, they're going to be gone. Anthony Financial advisors can. A robot. Well, a robot can't do what we do because of our immense passion, but they can certainly tell people how to do a Roth conversion.
I'm sorry, I just, I. A lot of people are saying AI, it's over. That's the tech bubble. It's gonna. It's a fad. It's gonna. It's gonna go away. I don't know. I don't know.
[00:21:01] Speaker C: Saying it's going away.
I'm saying.
[00:21:06] Speaker B: I don't know.
I don't know.
[00:21:09] Speaker C: That doesn't.
[00:21:09] Speaker B: Not going away. I mean, they're not worried about it not going away. It's. We're going to get used to it. It's going to be just part of life. How's it going to be? How do you get used to something.
[00:21:16] Speaker C: And we're not even there yet and all these companies are making a ton of money and they're still firing everybody. So what's the point in anything if you're going to lose your job anyways?
[00:21:27] Speaker B: We are there. This. This article ties again. Elaine Opulent AI, we are there. It's starting to replace bodies. They need fewer employees and they need to hire less people because AI is doing the work of many.
So it is there, it is what's coming, but it's already here.
So I don't know, the next two years, three years, five years, I mean, really, are we going to gut a big part of our workforce and then.
[00:21:51] Speaker C: Curious what industry will sprout out of this because there's always something new that comes along. But yeah, I mean machines, the conveyor belts and stuff took away a lot of jobs in manufacturing, then globalization, offshoring, all of that to China and Indonesia. But with AI and the thought of taking away doctors, you know, professions that'll be, that's going to be interesting.
[00:22:19] Speaker B: I think so. And I think it's coming at us like a freight train. You know what my problem is? I think everything's coming like a freight train. I, I still watch the continuous days on market. I'm watching the housing market, I'm watching the usual suspect hotspots. I, I've been saying for, I don't know, two, two and a half years on the show, realtors, you had a great run when you were representing the seller, but now you're gonna have to start representing buyers again. Things cycle, that's the way of the world. And I said dust off your foreclosure and short sale manuals.
I think within the next year you're gonna need them. I mean it's changing fast. The stock market looking at the Buffett indicator, looking at the Cape, looking at the PE ratios, it's probably, it's not gonna be the same as it is.
[00:23:02] Speaker C: Because it's not the all time pe, you know, record. Being in the top three or top whatever is not a good sign when you've got all these indicators pointing to overinflation.
But the government will do anything they can now to keep it up. And now that they've got rates at a semi decentable rate that'll, that'll look huge for them if they can drop it because that'll be substantial and give enough reason to keep overinflating, keep doing what we're doing well.
[00:23:34] Speaker B: And I guess the only reason I'm not more worried than I am, and believe me, I am worried. I mean, Travis Kelce and Taylor Swift got engaged, so I'm, I guess nothing really. I shouldn't be upset about anything. Go ahead Anthony, roll your eyes and then let's talk for a second. Let's talk a little bit about intel you said you wanted to talk about intel. Tell me what your thoughts are.
[00:23:56] Speaker C: Well, I think that's terrifying that the US Government has come in and just decided that they're going to take 10% of a major U.S. institution.
Is that not something that concerns you?
[00:24:11] Speaker B: Well, I, I talked about the last two weeks. I mean, they're also taking a stake in amd. They're, they're giving instructions to Nvidia, not that they're only part of it yet, but they're saying what they can and can't do with the CEO and Trump's asking for him to be fired and stuff.
MP materials. They're, they're the Defense Department's the biggest investor in that company or something like that.
So is it terrifying? Yeah. And there's a lot of people that they don't see the financial side of what's changing in this country.
You know, a little bit of an uproar this week because Trump said it's going to be a crime to burn a flag. So a lot of people said, well, that went through the courts and it's First Amendment protected, whether you like it or not. I mean, hate speech is protected. And Trump saying, executive order, it's no longer we're going to arrest you. You're going to get a year in jail. Not a month, not 10 years. You're going to get a year in jail if you burn a flag. So is that overreach, changing something that the courts protected, you know, naturalizing.
But I'm just, it's happening and it's like, you know, we focus more on the financial side of things and, you know, we need to get up to break time here. We, when we come back, let's dig into a second whether or not intel bothers me, and then let's talk about how it's going to affect the big picture, you know, of the, of the landscape going forward.
So with that said, please help us, please support us with something. Our YouTube channel, we're trying to grow that thing. We have like 628 subscribers. I watch it. It just keeps hovering for some reason around 625. So we need you to join up on our YouTube and I've got to work on getting some more funny little videos out there for you. I meant to do that yesterday and I got swamped, but I'll do that. And the other thing, reach out to us. We've been meeting you. We'd like to meet more of you. We'd like to meet all of you. Not at the same day. Don't all come in next Wednesday because it'll be too much for us to handle. But one at a time. Set up appointments and sit down with us. See how we can help you. We're at 623-523-0444 or you can email us at teamothermoneyshow.com and Anthony's Technology Savvy. He's got calendarly links so you can set an appointment right from our website. Or I'm old school. I'm actually old in general, so you can call me again. 623-523-0444. And I have a planner, a hard copy book that I'll plug you into. We'll be right back. Thanks for being with us.
This is Another Money show.
[00:26:38] Speaker A: Except this one's different. This one's actually fun.
[00:26:59] Speaker B: Hi, I'm JR Rachford, host of Another Money Show. If you've heard our show, you know it's about current events and how they're going to affect your finances and your future. What I see time and time again is people afraid of outliving their retirement assets. I've also seen the key to a happy retirement and that's good steady income. Folks with good steady income tend to be much happier and, believe it or not, healthier. Stop worrying so much about your assets that come and go. With almost 30 years in the financial services industry, I know self funding a pension is the key to a happy retirement. Let us help. Reach out to us at 623-523-0444. That number again, 623-523-0444. Or find us on the web at anothermoneyshow.com and check us out every Saturday at noon on 9 60, the Patriot.
[00:27:59] Speaker A: 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 B: Welcome back to Another Money show. Thank you so much for being with us. As you know, we greatly appreciate it. We're little teeny fish in a big huge pond and we quite frankly, we need your help and your support and we're getting it. So thank you so much. So don't forget to give us a call and come in, sit down with us if you want to sit down with Anthony, let us know that. If you want to sit down with me, let us know that if you want to sit down with both, that's the default. If you call from the radio show. Unless you tell us otherwise, you're getting both of us. So enjoy that.
So thank you. We're at 623 502-30444 or you can always reach out at team anothermoneyshow.com or go to either one of our websites. Anthony has a link to his schedule on Calendarly, so we would love to see you moving on a little bit. Actually, you know, one last thing about the shooting, because I, I. Why was I so upset yesterday? Well, there's a few reasons. I mean, one, I believe that, you know, really the Second Amendment is important. And I think this country was founded on people with guns. So I think guns, even though it's a hot topic, it's an important, you know, part of our history, our presence and our future, you know. You know what else hit me yesterday? A little harder than usual. So, like, like during Sandy Hook, I, my youngest son was in school. So it really kind of like, what would I do? What? You know, you put yourself in the position. You know how I put myself in the position yesterday? My wife's a teacher.
She's, she's works at a school.
If this happened at the school she worked at. I mean, I try to have empathy for other people on a bunch of different levels. It's like, I don't. All right, I said I'd move on from that. Everybody else is covering it. Back to Intel. Anthony, you know, I kind of, you know, I downplayed, like, how worried I am about it. I'll tell you another reason I'm a little bit worried about it.
So we're, we are 37 trillion in debt.
Should the Chips act even have happened? I'm going to say no. Should the Inflation Reduction act have happened? I'm going to say no. Should we be giving intel any money to begin with? No.
[00:30:23] Speaker C: Yeah. They're already receiving an insane amount of grants. Like, it's a private company. They should be in there to make money and to do this and do that. But we've already talked about all these other companies making a ton of money and then turning around and just firing everybody. So.
[00:30:40] Speaker B: Yeah.
[00:30:41] Speaker C: Isn't all this grant money supposed to be keeping jobs in the U.S. wasn't that the whole big pitch, looking jobs in the US Why isn't that a part of these grants?
But that, I mean, and intel, to write big, big name, they made 12.8 billion in revenue last year, which is up, but they were down 3 billion almost in net income. We talk about PE ratios and we were Joking about Carvana being like a 24,000, you know, PE ratio which is absolutely insane. But you know what a positive number is? Still a positive number. Intel's not making anything. Intel has no PE ratio because there's no profits right now.
[00:31:24] Speaker B: May I read one little segment on one of the five articles I am now looking at in front of me, two of which came from you.
Intel is dealing with multiple issues across its business. Its manufacturing division is bleeding cash just as its legacy computer chip segment forfeits market share to rivals AMD and Qualcomm. I didn't even know Qualcomm was still a thing in the PC space. Intel is also woefully behind AMD and Nvidia in the AI race. The company's market cap of 11 billion. Yeah, you just read the numbers. The troubled chip maker is the only large scale US based leading edge chip manufacturer giving it the geopolitical significance as the nation looks to restore semiconductor production. So there's the answer. It's in the US so we got to keep it afloat.
One of the things about the intel deal, you know one of my bottom lines. In a free market capitalistic country, how does the government get to meddle with the corporation ownership, CEO positions, et cetera? How does that even happen to begin with? How when we're 37 trillion do we give them money? The whole thing's crazy.
[00:32:40] Speaker C: We're not a capitalistic country, we're a socialist country, but only for the rich, for capital out to those. It's so funny how we're essentially taught to cheer against our own interests. You know who needs all this government support? Well, all of these large corporations are getting government support. It's true or not.
[00:33:01] Speaker B: It's George Carlin. It's a big club, but you ain't in it. That is a good point. Anthony. Today I like you today. I'm good with you tomorrow. We're back. We'll be back.
[00:33:09] Speaker C: But yeah, it's been interesting watching the intel thing too because there's been reports on how they think it's going to be bad for the stock. Well, I think losing 3 billion is probably what should be bad for this stock.
But I, I disagree. I think the government coming in, like the government's gonna let them fail now at this point when they're 10 on and when does that stop? What's the exit strategy? Because I think I even read too from Intel's thing that there's a potential of an additional 5% being purchased.
So you have 15 ownership like that's.
[00:33:44] Speaker B: That'S huge on a big company.
Well, let's talk for a quick step about what the ownership buys us.
I'm going to read a line from one of these articles. This is from Intel. Oh, this. You gave me this right from intel.intel.com on the 22nd of August.
[00:34:01] Speaker C: Yeah. This was their report.
[00:34:03] Speaker B: Yeah. Well, this is hidden in their report. It's kind of important.
The government's investment in intel will be a passive ownership of. With no board representation or other governance or information rights. The government also agrees to vote with the company's board of directors on matters requiring shareholder approval. Here's the catch. With limited exceptions.
Aha. We got our nose under the tent, didn't we, government? So this is right from Intel. They're saying the government has, you know, they just want a stake in the ownership, but not in the say of the company. Well, unless they need to change that, let's move on from Intel. Staying on the same page, but here's something for you. This is from the wealth advisor on 82525.
White House's Hassett says US could take stakes in other chip companies. But wait, Phil Swift, there's more. The federal government could take stakes in other U.S. semiconductor companies or even. This is the key. Or even move over to other industries.
White House economic advisor Kevin Hassett told CNBC in an interview on Monday following its following.
Following its stake in Intel. You like how whenever I flub a word, I call myself out. I don't have to wait for you loyal listeners to call me out. So other industries. Did you hear that? So right now we're, you know, we're getting in the door with chip companies. Let's see here. The president has made it clear all the way back to the campaign that he thinks that in the end it would be great if the US could start to build a sovereign wealth fund.
And so I'm sure that at some point there'll be more transactions, if not in this industry, in other industries. Hassett said. Sam, get ready to bleep me. Holy sh. You know what? This the country we want. I mean, if you're listening to us and you enjoy us, you probably want small government. You probably want to end the fend. Did I mention that earlier? We're about to take over industry. We're going to take over the currency central bank, digital currency. Da, da, da. Or wait, I thought it was going to be a crypto. It's going to be a stable coin. What do you think that is? It's a central bank digital currency. Because the government's going to back it and the government's going to oversee it. Let's see here. Okay, I'll put that aside. Let's move on from the government owner in every single business. Oh, shoot. I just thought of something. Anthony, do you think there's any way we could get the government to buy a 10% stake in Rochford and Associates?
[00:36:36] Speaker C: I mean, we can also lose a billion dollars, I guess, if we try really hard. So I don't see why they wouldn't be interested in us.
[00:36:43] Speaker B: But do we lose like Wolf of Wall Street, a billion dollars of other people's money, or do we have to lose our own? Because I'm out if it's my money we have to lose. And when we're cashless, my question is, what are they going to do?
[00:36:54] Speaker C: Are they going to, like, print out stuff for you to throw? Like you go to a vending machine and you swipe your strip club's going to keep the dollars alive?
[00:37:02] Speaker B: I don't know. And where do you swipe your card? I mean, are they going to have some sort of a square. Sam just said tap to pay. What are you, what are you going to tap, Sam? I'd tap that too, but I mean, yeah, we're in a changing landscape. Let me give you a little further proof. This is another article I got from the wealth advisor on the 25th of August. So this was just a couple days ago. Let's see here. I don't know how to pronounce this. Societe Generale strategist Albert Edwards is once again raising alarm bells over what he views as a fragile and unsustainable rally in equities, with a particular focus on the tech sector's outsized role in driving market gains. I guess I kind of tie this in with how I think AI has just hit the scene so hard and heavy, and now we're going to get. We're going to get fatigue. We're going to get AI fatigue and not worry about it. So much known for his consistently bearish stance, Edwards observations don't always line up neatly with short term market movements, but they often highlight long term vulnerabilities that advisors and fiduciaries cannot afford to ignore when building and maintaining resilient client portfolios. Edwards latest concerns center around two irrelated dynamics. The extraordinary concentration of returns and valuations in US Technology stocks and the simultaneous surge in government bond yields that threatens to upset this delicate balance. For RIAs, I believe that's registered investment advisors such as yourself, young Anthony, and Wealth managers. These observations serve as a reminder that markets often appear the calmest just before the meaningful disruptions emerge.
Let's see here. Edwards highlights that technology stocks now account for 37% of the US equity market.
This surpasses the concentration level reached at the peak of the dot com bubble in 2000.
While this fact alone doesn't guarantee a reversal, it points to how dependent the overall market has become on a single sector.
Much of the growth has been fueled by enthusiasm for artificial intelligence. From cloud computing to semiconductor design, investors have poured capital into companies they believe will define the future economy. And as I tied in, also get rid of your job, kids.
Advisors are acutely aware of how client conversations have shifted. AI is now as much of a portfolio talking point as inflation or interest rates. Yet as history demonstrates, periods of intense enthusiasm often result in in valuation excesses that later unwind, sometimes violently. One last thing. The path forward remains highly uncertain. Questions persist around how aggressively the Fed will cut rates, whether inflation will stabilize, and how the labor market and consumer spending will evolve. Higher tariffs also loom as a structural headwind, creating potential cost pressures that could sustain inflationary forces longer than expected. Blah, blah, blah. What does all this mean? It means we're in really uncharted territory. It means we're in really uncertain times. It re. It means if you're chasing, whether it's an industry, whether it's a certain stock, keep your eyes open right now. You know what? Our whole practice, you know, and I've been there almost 30 years, our whole practice has revolved around moderation, diversification. We protect and grow people's money in that order.
So we are very much aware of how things could be coming at us. And I've been in the office, I was there, you know, in the late 90s. I remember what people went through when the tech bubble burst. It's kind of hard to forget when you actually got to talk to clients that lost some money. I was there when a plane hit a building. I was there in 2008. October 7th through March of 09 was an unusual time. Anthony, you and I had a husband and wife come in the office this week that went through stress where they were almost at a divorce level. They were fighting so much between themselves about their money. And it was really, really, you know, this job here, this financial advisors and non alike, this job, you think it's a science. You learn the rule of 72 and the rule of 100, you learn what PE ratios are.
You learn all this stuff, you think you know what you're doing. And it's a science. It's not. It's an art when everything's going up and it's never going down. I'm looking at you 30 companies that make up the Teflon Dow. We're all geniuses, advisors and clients. We're all really smart. You know, we all want 10% return fully liquid. No, no risk. And you know, for the most part, you kind of been getting that for 15 years.
I think it might change. So I don't know. Just be ready.
Let's talk for a quick second. Oh, you know, I do want to finish up something on interest rates. You know, the whole Lisa Cook and Jerome Powell.
I found a pretty funny article. This is from the 6th of August from the Daily Hodl Bond king Jeffrey Gundloch says Fed rates incoming warns US inflation data appears to be made up. So, you know, interest rates. We have to worry about the unemployment numbers, the, the inflation numbers. It's not just all about, you know, not the interest on the debt. It's what, the third largest expense item right now. It's surpassed defense.
So yeah, we're paying over, what is it, a trillion dollars a year just on the interest on the debt that we owe. It's not sustainable anyway. Double Line Capital CEO Jeffrey Gundlach says the US Government's economic data now appears to be largely fabricated out of thin air. I feel like this data that's coming out is getting much less reliable. And this has been building for a long time. People are saying that the surveys that get it sent out to be filled out for the jobs report, only 60% are being responded to. That's been rising over time. Also, the CPI data is getting kind of suspect. Several years back, about 8% of CPI input prices were estimated. Now it's 35%.
So 35% in the most recent CPI report of the inflation endpoint are kind of made up. So people are starting to get really worried about the reliability of a lot of this data.
The Fed's data has gained a lot of attention lately after the most recent job report showed jobs grew by just 73,000 last month short of the expected 100,000. Yeah, it's 25% short. While July and May job numbers were drastically revised downward by a combined 258,000. The revisions have led some to suspect the US economy is suddenly flashing recession. Well, you know, I mean, this is one man's opinion. Well, he's also a billionaire. I mean, he's also somebody that, you know, like some of the stuff he says can Move the markets. So look up Jeffrey Gundler. He might be on the right track.
Let's see here. Bitcoin.
I was going to bring an article up about how Last Friday, the 22nd, Powell comes out. You know, I might raise. I might lower interest rates. We'll see. September. You know, I might. He never said he's going to. He's just got a little more dovish. They call it dovish instead of hawkish.
That man speaks and you're telling me in one day the broad averages go down 2%?
You know what? Fundamentals be damned. PE ratios be damned. Corporate investment from government be damned. If Powell says something, the market's going to have a tantrum or they're going to have a joyous day or, come on, give me a break. This whole thing's a house of cards, smoke and mirrors and not to be, not to be ignoring the banks. We pride ourselves on making sure you're awake when it comes to the banks and not just the stock market or the housing market.
You know when I tell people the funniest conversations I have are in the banks because the managers and the tellers, they don't believe me when I tell them that there's something from 2010 called the Dodd Frank regulation that basically says if you have money in the bank, don't get used to it. It's what it says. I summed it up for you. I paraphrased. But I tell them, I ask them, have you ever heard the term bail in? I've been at about zero. Like nobody that works in a bank knows what a bail in is. Are you kidding me right now? You didn't even learn the term when Silicon Valley bank was going south.
So I don't know. You better familiarize yourself with the term Balin. I will tell you something. If you have under $250,000 per account, under 250, which is most, I mean, most people.
Do you realize the FDIC insurance coverage covering that has 1.3% coverage? I don't know.
There's a little bit of problems with banks lately. I'm hearing it on other shows a little bit. Even so, banks are starting to debank people. My good buddy Joe Jaquin, his partner Jason, who lives in Colorado, he spent a little time in the banks trying to sort stuff out because they've debanked him. A few weeks ago, you know what? They, they accused him of putting money in cryptocurrencies. Now why would a bank give a hoot where you put your money? You know what? I'm saying if you go into a bank and you ask for a few thousand dollars and they ask you what you're going to do with it, your answer should be none of your business.
But you probably don't want to say that. You want to have an answer ready. The number one answer, just if you're paying attention, is, I'm going to buy a car.
First of all, if you're asking for two or three grand, well, what kind of car are you going to get? Hopefully it's a scale replica of a white Corvette, because you're not going to get much of a car for under 30 grand now. But anyway, so with these banks, why all of a sudden are they ramping up their scrutiny, their shenanigans? Why did I have to get a text code? You know, I complained about that a couple months ago. Twice in one month at a bank. You know what? They're watching what's happening just like we are at another money show. The fact that the government is going to bring in stable coins and the stable coins are going to be backed by the government. Where does the bank fit in? If people can use cryptocurrencies, what do we need a bank for?
So just, just so you know, the banks are starting to pay attention. Let me give you a real life example. Here's an article. Oh, boy. We had a good day over at the wealth advisor on the 28th of August. Thank you so much.
Alternative investments. You may want to, like, absorb this. I know I talk so fast, but you may want to, like, kind of absorb what I'm about to say here. Alternative investments, now available. Not coming soon. Now available in United managed accounts over at Wells Fargo. All right, so a couple things for you. One, it's not coming. It's here. It's here. You know, we talked last week, I think it was Anthony, about them starting to have alternate assets in our 401ks, which is going to be super dangerous. Will there be some opportunities? Sure. Will there be some sad stories? I believe, yeah, a lot more of those. The rich are going to get richer, the poor are going to hover, and the middle class is going to shrink. That's the direction we're going on every different front. This terrifies me. So let's see here. Wells Fargo Wealth. Wells Fargo, that's our favorite bank. How are they doing? Fake accounts. And maybe they're going to open up fake alternative accounts for people.
Let's see here. Wells. Allegedly. Sorry, allegedly. Don't sue me. Wells Fargo. So Wells Fargo wealth and Investment Management division in collaboration with Invest Cloud now offers alternative investments as an eligible investment in its personalized Unified Managed Account program. That's the personalized UMA account if you're already with them. This move demonstrates WIM that's the wealth investment leadership as one of the first large wire houses to make this option available at scale and provides both advisors and clients with greater choice and convenience. By allowing more investment types and in a single account.
We are committed to providing new technologies that deliver personalized, scalable and data driven client experiences, said Greg Maddox, WIM Investment Solutions Product Management Executive.
We are proud to offer industry leading investment capabilities and find new innovative ways to to make the company an easier place for advisors and clients to do business.
I'm going to read just a little bit more and then I'll tell you my feelings and then I guess it's almost time to go. We are thrilled to partner with Wells Fargo to further elevate the investment capabilities with cutting edge technology tools and resources, said Jeff Yabuki, chairman and CEO of InvestCloud. Yeah, I'm sure you are there Jeff. A wealth technology company, Invest Cloud is delivering innovative and which enable exceptional and personalized wealth management. Ba BA BA Alternative investments go beyond traditional investments such as stocks, bonds and cash to provide for qualified client hedging and arbitrage technologies, derivatives, long and short positions and investments in private offerings and global markets. These can include alternative I'll stop there. You know what this means.
We told you three and a half years ago when we started, we told you two years ago, we told you a year ago there's only going to be a handful of banks left. When we go to the central bank digital currency, there's going to be no community banks, no neighborhood banks. There's going to be Wells Chase, P of A, Citi, there's, you know, there's going to be a couple credit card companies that capital want to discover.
This is it.
You're going to be able to buy cryptocurrencies right through your financial advisor at Wells Fargo Financial. The bank teller should be nervous.
There's going to be no cash. It's coming at us like a freight train. So if you want to afford that article to you, but that's basically saying that it's you can go in today, bring your money into a big bank and they're going to be your one stop shop for the future of our currency. So welcome to it.
What do you think Anthony? Debanking? Tightening up loans?
Worried about stable coins? What?
[00:52:10] Speaker C: I don't know. I don't know about anything anymore.
[00:52:14] Speaker B: Well, sorry that today was a little fast and no, I'm not. You need to hear this stuff you're not getting anywhere else. All right, Anthony, I'm done.
[00:52:22] Speaker C: All right. So anyways, that's it for today's show. If you like what you hear, do you have any questions on what what you've heard, you can reach out to us at
[email protected] find us on the web anothermoneyshow.com you can book appointments with us direct from the site. Give us a call 623-523-0444. That number again is 623-523-0444. That's it for now, but we'll see you next Saturday at noon right here on Nine60, the page patriot.
[00:52:53] Speaker A: Thanks for listening to another money show.
[00:52:56] Speaker B: You deserve to work with a private.
[00:52:58] Speaker A: 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 offer through Brookstone Capital Management, LLC, BCM, a registered investment advisor. BCM and Rochford Financial are independent of each other.
[00:53:16] Speaker B: Insurance products and services are not offered through BCM, but are offered and sold.
[00:53:19] Speaker A: 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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So are you ready to consider an annuity as part of your retirement plan? It's a key question to consider as you approach what should be your golden years with the Retirement Radio Network powered by AmericanLife. I'm Matt McClure. 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. Any bonuses mentioned may be subject to additional restrictions and regulations based on the offering annuity company. You may not receive the bonuses if the contract is fully surrender rendered or if traditional annuitization payments are taken. And if the policy is partially surrendered, it could result in a partial loss of bonuses. Because these are bonus annuities, they may include higher surrender charges, longer surrender charge periods, lower caps, higher spreads or other restrictions that are not included in similar annuities that don't offer a bonus feature.
