[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 J.R. rochford.
[00:00:42] Speaker A: Here we are, J.R. rochford and the one and only Sam Davis. I won't give Anthony's introduction today because it's kind of a different day, but I will tell you, Anthony is on vacation. Again, Sam, if I'm not good with math or numbers, but I believe this is vacation number three in the last six weeks, I believe that young man was in Colorado and he was in California. He's not even in the country this time. By year, you know, by the time you hear the show, he'll. He'll be back. So, no, no need to go rob his house. And I've already taken anything of value out of it, so. But, Sam, why are you and I. Wait a minute. You were in Italy a few weeks ago. How come. I'm the common thread. I get. I get Matt McClure and I get Sam sporadically. I get Anthony here and there. But why am I the only one that's always at the office?
[00:01:30] Speaker C: Yeah, those who live in glass houses should not throw stones. So I will not be pointing any fingers here. I just got back from a very enjoyable vacation. Hope Anthony's having a good time. I know Anthony likes to drive cars and he likes to drive fast. I don't know what side of the road they drive on over there in Ireland. Wherever he's at, I don't even know if they go the same direction on the track over there. But I hope he's having a good time. And I think he'll be back next week.
[00:01:59] Speaker A: I believe so. As long as everything cooperates with the world. Which boy today? I mean, I. I'm not so sure.
I. We're recording this on Thursday, 9, 11.
I know there's been a lot of news that's kind of drowned out what anniversary this is, but by the time you hear this, everything will be played out. You know, our show is. We're financial guys, but our show is on current events and how they're likely to affect your finances, your future, your kids, your grandkids. So we're a little bit different for a financial show. We're not an hour long infomercial. Part of the, part of the problem with this show, we record on Thursdays. Every once in a while because of Anthony and Sam's vacation schedule, we have to record on a Wednesday.
So. But we record on Thursday.
And if there's any kind of major news by the time you hear our show on Friday night, if you're a podcast person or Saturday morning or Saturday midday, it's already been, you know, it's been covered everywhere else. So we, we are not going to spend a lot of time digging into the biggest news, but we're going to address it because I think we have to. And it's our job to talk about current events. But let's start with the big picture.
9 11, that tragic morning was what, 24 years ago today. Sam, how old are you roughly? You don't have to say specifically, but how old were you on 9 11?
[00:03:26] Speaker C: I was in the first grade and I was going to Catholic school and this was in a small town in Kansas. And I remember we hadn't been at school long. It obviously happened early in the morning and they took all of the students and we marched over from the school to the church in our uniforms and basically sat there, didn't know what we was, what was going on for a while.
That one point some, some teacher told us there had been a bad tragedy and kind of explained the news. And then parents came and started picking kids up and I remember seeing the news on the TV when I got home and, and those are kind of the memories I have of that day. So I was young but it definitely had an impact and I am able to remember the day. It's hard to believe that was 24 years ago.
[00:04:13] Speaker A: Yes sir. Yes sir. And it, I mean my, I was working with my father and we, that morning we, we were supposed to be at the, the Phoenix Sky Harbor Airport Marriott Hotel for a training session. We obviously never made it that day.
So I got woken up by a friend back and not woken up but I got my how I first found out about this was a friend back east called me and asked what's going on? I was like, what? He's like, aren't you seeing?
And I so right away, this is before I was like heavily ingrained in social media and research and I flip on the TV and I'm like what the heck? So the first thing I did was I called a friend of mine in California who's an FBI agent since retired, but an FBI agent.
And I asked what's going on? And he was kind of different than usually when we talked and he said he didn't know. And I'm like, come on, does that mean you can't talk about it or you don't know? He, he's like, we don't know. So right away I understood that he was telling the truth. So I get ahold of my father and we wound up. We always take logbooks home and it doesn't have Social Security numbers or too much identifying information like date of birth, but it's got client's name, how old they are, what type of account they have, whether it's IRA or non qualified, you know, what company, the approximate amount. So we always have that because we were careful. We thought if, if there was ever a fire in the office, you know, we, we had enough to recreate our, our book of business at home with us every night. So we talked and we, we were both, you know, kind of in shock ourselves. But right away we said, well, we have all these clients with mutual funds. You know, we don't know how bad this is going to get, but we think it's going to put a big ripple in the financial market. So we split up and he took A through L, I took M through Z. And we started calling our securities clients. There was no need to call the clients with fixed accounts because they couldn't lose money even if a plane hit a building. So we start calling these clients saying we are going to take our own money, safer, just temporarily, hopefully. We understand short term trading fees, we'll be very aware and careful with that, but we're not sure what's going on. So do you want to join us and safeguard your money? And obviously it was so difficult because right away people were like, well, what's going on? It's like, we don't know. We really don't know and we don't have time to talk. We've got to get to 10. Our deal was we're going to get to 10 clients and then call the companies and do basically a safeguard. Take people out of stocks and bonds, put them into mutual funds, and then get to the next ones and get through as many as we can. One thing I learned about my father that that day, he, he didn't, you know, neither one of us even thought, let's call the multimillionaires first and work our way down. We didn't think, let's call our relatives and our close friends first. We just went into the book of business and started calling people. So actually some of the later people we got to were the, were some of the people that it's like, wow, why didn't you call them first? They never knew that. You know, people were just glad we called them. And we learned so much that day too on the psychology of things. And by the way, how that ended. You know, we all know that the market closed for what, four trading sessions after that. You know, a lot of people lost 10 to 20% of their money after that event. A lot of our clients that we were able to reach did not. So it worked out really well. What we learned that day, we told our clients after that, here's a good idea for you. Here's. You need to keep some information in your cell phone. You know, cell phones were newer, I get that 24 years ago, but a lot of people had them. And we told people you need to keep, like for example, if you had mutual funds with Fidelity, you need to keep Fidelity's 800 number in your phone. I wouldn't put in your account number next to it. I wouldn't put in your Social Security number. But you know that, you know your social, so you don't need your account number. If something happens and you can't get a hold of us or we can't get a hold of you, it's still your money next to your health. It's the second most important thing you have to deal with on this planet. So we told people, keep your, keep the 800 number. Keep a couple of them in your cell phone. If something happens suddenly, first come, first serve, call the company, ask them what's the safest account you can use, usually as a stable value fund or a money market. And then you can always move things back again. We understand short term trading fees. We move people into funds right next to the fund they had if there was any kind of fee to get their money back. So I don't know, it was an interesting day. The other thing we learned, we didn't have enough contact information.
So now when we, when we have somebody that trusts us and becomes a new client, we ask for your, your cell phone. If you have a landline, if you have an email address, if you have a way to get a hold of you, if you, if you're at work, that, that is not just, you know, going to go to voicemail. So anyway, I don't know. I don't know. I guess I'm babbling On a little bit, because today is a significant day. It's been drowned out with the news of yesterday. But I mean, keep in mind, the day after 9, 11, this country came together.
I remember seeing a bunch of flags in people's vehicles. I remember, you know, hearing people. You know, a lot of it was, you need to tone down the rhetoric in some of these cities where people were being disrespectful and yelling at people that looked like they could have been Islamic or Arabic or whatever. You know, things were going on and it was like. But the country, it really. It kind of bonded people a little bit. It kind of made people. We had one common goal, and that was, this country needs to be strong and patriotic and American. And boy, has that changed over 24 years. I mean, this big news of yesterday, which. Which again, I guess there's no need for us to go too deep into it because you've heard it everywhere if you're a radio show or a TV person. But with Charlie Kirk being shot, this is. This is shocking. I've been saying on this show, we've been on here for three and a half years now, and I've been saying, this is dangerous. The country's going the wrong way. I take pride in something. I tell people, I manage money into the future without a crystal ball. Anthony's an engineer by trade. He's very intellectual, very.
He's detail driven.
Our thing, we're not optimists. We're not pessimists. We're realists. We manage your money.
And the people that think I'm so pessimistic and I'm so negative and that sort of thing, you know, I've had people call me out on it. It's like, I'm not pessimistic at all. I'm realistic. I'm trying to make sure you're proactive and not reactive. I'm trying to make sure you're prepared, not scared. Those are just taglines we use on the show. You know, we've told people to.
And I don't want to go too far down this. We've told people, if you're so inclined to get trained and so forth, you need to stock up on guns and ammo. You know, this country is so polarized, so divided, it's so dangerous, the direction we're going. And I've been saying, I think it's ramped up for years, and I think it's kind of boiling over a little bit. Several of the stories, at least just in this past week, have made Me believe that I'm on the right track. And again, I'm being realistic, not pessimistic. I think our country is in really, really deep. You know what?
And I don't, I don't know, I mean, can it come back? I have so many questions. You know, this thing with Charlie Kirk getting shot, it to me, it's like, I mean, really, you've got people coming out yesterday after it condemning political violence. When you spend years telling half the country that they're, they're Hitler esque and you're, you're saying extremists and you're saying all this stuff. Who wouldn't be a hero? That stopped that movement, you know what I'm saying? You didn't silence a man, you silenced a movement yesterday. That was the goal. I think, you know, there's already the conspiracy theorists and you know, believe me, I'm open to those. There's people that talk about Israel and Mossad and I don't know, that's way above my pay grade. What I do know is that this, this man was very influential, you know, and yes, I'm disgusted by some of what I saw on social media last night. I saw people that are, there are some directly, some roundabout justifying this, you know, that Charlie Kirk was one of the people that said, you know, if people have to die to support the second amendment and preserve it, so be it. And the irony of now that's how he goes out.
I have to tell you. I mean, it's A, it's too soon and B, it'll never be the right time. If somebody takes somebody else's life for political reasons and because they see things differently, you've lost it. You've lost your moral compass. And I'm sorry for that.
I don't know.
Yeah, I was talking to a friend of mine this morning.
We haven't said the name in a while, but believe me, we still think about him every week. We talk to him every week. Michael C. In Sun City. Who?
I mean, Michael and I talked for a few minutes this morning before I came in here to record, and it was a very quick conversation, but it was a little bit sad, charged up. I'm angry, I'm sad, I'm confused. And so is he. And one of the things he said that really, really sticks out with me. So I wrote it down so I wouldn't forget to say it today. Michael said, when you other people, you take away their humanity. And I said, what? When you what other people? No, that's it. When you Other people. It's always other people. It's okay to dehumanize other people. You're okay. You're. You're fine. It's the other side. It's evil. It gets real dangerous.
So I don't know. I don't know how this ends. Part of my thing is I don't know how it ends. I think Charlie Kirk, you know, when people say he spewed hate speech, I don't know. I mean, I'm a huge social media person. I've met the man. I've talked to him. I mean, I've watched videos, you know, on YouTube, like I think most of us that would listen to this station have. And I didn't get the hate speech. I know he stood up for himself. I know he stood up for his Christianity. I know. I know he wanted people to go towards, you know, a more conservative lifestyle because he believed in it. That's freedom of speech. I never picked up any hate speech. So I don't know. But the people coming out, some of the people coming out last night and today condemning political violence.
For a decade, you've been basically given the green light to political violence. So you need to stop and back down.
It's. I don't know. Sam, should, should you interject before? I wanted to be careful today because even though we're on current events, we are a financial show, we're not a political show. I'm just, I'm sad, I'm mad, I'm frustrated.
[00:14:55] Speaker C: Yeah, I mean, well, it's not just current events. This is a currently happening event.
I think it was just about 24 hours ago that the shot was fired as we're recording this on Thursday.
And, you know, it's, it's pretty in intense how, how quickly this story has developed. You know, maybe by the time this show is airing or the podcast is out, there's going to be further updates. You know, right now, the local police department, they said they were going to make a update this afternoon, but then that has been delayed because they said there's some rapidly developing stuff. The FBI released a photo of a person of interest and is offering a reward. So they're trying to still identify and, and get their hands on the, the person, whoever did this.
We just, we just don't know much at this point. It's obviously tragic. It's very clearly a targeted attack. And it really, I think it brings into question what does public assembly look like in the political arena moving forward? I mean, there was an attempt, multiple attempts on the President's life and now this yesterday. So I won't be, I won't be attending any political rallies anytime soon. It just the public safety risk, it's, it just seems so high right now.
[00:16:21] Speaker A: Well, and this is very reminiscent of Trump's attempt in Pennsylvania. It's like they need to, these things need to be indoors. I don't care if it's college campus, it doesn't matter where. I don't know if anybody's safe in this world anymore. And this country is getting like the rest of the world where you're not safe. You know, when you bring that up about, you know, looking for the, the shooter, something that hit me this morning when I heard that there's a hundred thousand dollar reward on the table for information on the shooter, $100,000.
Think about something real quick. I believe it was two shows ago I brought up the bounty on the head of Maduro in Venezuela was 25 million. And the day we were recording or the day before, they bumped up to 50 million.
So think about that for a second. Our country wants to give somebody $50 million if they, if they get Maduro in custody.
So that, that's 50 million. That's pretty life changing. It's not the 1.8, you know, billion dollar Powerball that I did not win, by the way. I had 20 bucks in that drawing. But I'm not bitter. So 50 million versus a hundred thousand. Hey, hey. United States, FBI, CIA, local, national, federal government. How about make it a lot bigger?
Somebody killed somebody and it's more symbolic than it is. Just direct murder like is going on a lot in our country lately and ramping up. So I don't know, I think you ought to make it. Instead of 100,000, let's make it, I don't know, 10 million.
Let's get serious in this country where our money goes.
[00:17:48] Speaker C: But I was curious, so I just looked this up. Reward money from the FBI is considered taxable income and must be reported to the irs.
[00:17:57] Speaker A: Hey, Sam, this isn't a financial show. We don't talk about taxes and finance. You got to be kidding me right now. So if you lead to the arrest of the assassin, let's call it really.
[00:18:06] Speaker C: What it is, of that 100,000 you might be getting away with, you know, 70 to 73,000 after all said and done. Depends on how much you make, of course, and where you live. If you live in California, you might get 60,000.
[00:18:19] Speaker A: Oh my gosh. I.
Well, at least you've, you've lightened this up a hair for me. Because that's absolutely hilarious. I didn't even think of that side of it, but that's funny. So if you get that tip money, don't forget to declare it.
Oh, my gosh. You know the irs. The IRS will help identify the assassin with you.
[00:18:39] Speaker C: No tax on tips, no tax on bounty.
[00:18:43] Speaker A: I'm going to rally. Lobby. I'm going to lobby for that.
Moving on. Now that you made me chuckle, let me go back to the death and destruction which is becoming our country.
So up until yesterday at. You're right, it was 23. Right around 23 hours ago, there was another. There was a story that was very heavy on my mind that again, has little to do with finances, but it was shocking. You and I are very different in something.
I am a huge, huge sponge when it comes to what's going on around me. Not just around me, but around the country, around the state, around the world.
So I am heavily ingrained in social media. I watch the local news when I can to see what the normies are watching. I watch what my wife is watching because she is 100% normie. She is 180 degree opposite of me. You know, they say opposites attract. Boy, you ought to see me and Sandy get to know us. Talk about opposites in so many ways. So anyway, so I.
Social media, it's really. It's a game changer in how fast we get information.
Whether that's good or not, I'm. I'm not sure because it could be dangerous. I know that if you and me were the same age, who's more likely to stroke out or have a heart attack? That would be me. Because there's so much that I'm exposed to that just freaks me out. And it is getting worse every year. When we started the radio show, did I mention that was three and a half years? Did I have. I also mentioned we have never missed a week.
Doesn't matter if it's 4th of July week, Christmas week, doesn't matter. We have brought you a new show every week for three and a half years. I'm just kind of proud of that. Thank you, Sam, for making that happen. It's been cool. Anyway, so three and a half years ago, I found a way to share with others my nightly passion on perusing YouTube and different, different YouTube channels. And a lot of it's bad, some of it is good because we need to be awake, we need to be aware, we need to be nimble. Anthony hates it and he's not here. So guess what? I'm going to do it. I don't know if Anthony ever listens to the show. I listen to it every Saturday. I don't know if Anthony does, but he hates when I bring up normalcy bias. He thinks it's just oversimplified. He thinks it's dumb. I think it describes what's going on in this country to a table. I. So let me. Let me read it to you. As long as he's not here. This is just the quick Wikipedia version of it. 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 crashes, and calamities caused by human error.
So when I think about normalcy bias, ostrich effect, you put your head in the sand. If I don't see it, doesn't mean it's not coming. That is not true. Whether you see it or not doesn't really dictate whether it's coming or not. And we do focus a lot on central bank digital currencies, which are definitely coming. Actually, they're here. We just don't know it yet. And I've given you proof of that recently when banks are able to deal with your cryptos now. So they're here. Where I was starting to head with this whole social media. One of the stories that I wanted to bring up today because I think it's of huge importance on how this road we're on plays out. There was a woman named Irina Zarutska.
And Sam, you said you didn't know that name. You said that this morning. You didn't know who that was. Well, she was murdered on a light rail train in Charlotte, North Carolina.
Part of the problem with her murder, it happened on the 22nd of August, and there's videos all over social media now. She's Ukrainian, by the way. She escaped from Ukraine where there was violence and she wanted safety is why she came to this country. She was in a pretty fairly safe part of North Carolina from her, from what I've heard, worked in a pizza place. I mean, just.
And the murder was on. I mean, she was sitting there minding her business. She was on her cell phone and she wasn't doing anything. And somebody stood up and stabbed her. And this happened on August 22nd. I didn't start hearing about it until about the 8th of September, and I think I never would have heard about it if it weren't for social media. And you're kind of proving that that point is true because as of today, you haven't heard of her. I asked Sandy last night if she's heard of her. She has. Not everybody heard of Charlie Kirk. My phone started blowing up yesterday.
I don't know. It was 1245. It wasn't long after shooting, my phone started going nuts. So anyway, the thing about this woman getting murdered is part of it is there's a lot going on.
It was a.
You can make it a racial crime. It was a black person murdering a white person. There were several other people. They all happen to be African American. And I don't know how much, you know, to go down that road.
I know in my mind that if the situation was reversed, if it was white people on the train and it was the person that was assassinated was of color, this would have gone down differently. There would have been a lot more attention to it. You know, I mean, there is some validity to the fact that. I mean, when. When you look at what's going on with race in this country, it's not good. I mean, it's. It's. You know, a lot of times people burn down cities and get rid of CBS's and stuff.
I got to. I got to get focused. I'm having real trouble focusing today.
I'll end this soon so we can get on to the articles, because that'll distract me. But this. This crime is so horrific.
I do think people should see it. I think you need to look at the pictures of her face and the fear. And the reason I say this, this is not unusual. This. I'm not sure if you're safe anywhere. I'm from Chicago, Illinois, and obviously we know there's a big, you know, ice being there and the National Guard going there and everything going on.
But when you look at the city, how unsafe you can be, you need to understand, you know, if you're going to Chicago or Detroit or Baltimore or certain cities, you kind of expect that you have to keep your head on a swivel and watch your. Your six.
You don't think that in. Nor in certain places. In Charlotte, North Carolina, you don't think it. When you're on a college. Well, I don't know. Maybe you do.
When you're on a college campus, you shouldn't have to worry. When you're in church, you shouldn't have to worry. I hate to say this to you. The direction of the country. I don't care where you are. You better start watching yourself. You know, I talk a lot about the second amendment because I was born and raised in a family that believed in it. I went to an all boys Catholic military boarding school. We trained weekly at the range. You know, I mean, I actually went in the military. I joined voluntarily. So I believe there's a reason that we should be armed in this society as long as we're trained, as long as we do things the right way, you know, do I think bad people should have guns? I do not.
So thank you so much as always for being here. I mean, we greatly appreciate it. We need your help. We ask for your help. You know, we want to help you too. We want to be a second opinion. If you want to come in and meet us, we'd be honored. We'd love to be a second opinion for you. We're not poachers. If you have a finance advisor that's doing a wonderful job, we're not going to try to upset that apple cart. We respect people that do do the job the right way. You know, every once in a while I send people to their rep with a question or two. You know, when I look at their statements, I'm like, well, why is this this way? And I still don't try to poach. But they go back to their advisor and ask questions and sometimes things could change that way. So it might, might be a value. Reach out to us 623-523-0444 or you can always email us at team another moneyshow.com and do check out our YouTube channel. We're asking for your help with that. We're trying to put up some funny clips too. So it's entertaining and not just informational. So we'll be right back.
[00:27:07] Speaker B: All of JR and Anthony's listeners receive a free consultation just for listening to the show. Visit anothermoneyshow.com@rochford and Associates. We know you've worked hard to earn your money and you've worked even harder to save it when it comes to wealth management and planning for retirement. JR Rochford and his team of specialists have been helping individuals, families and business owners find financial freedom at their veteran owned firm for more than 25 years. Give us a call now at 623 502-30444. That's 623-523-0444.
So let's break down the big stuff without the boring. It's money time. This is another Money show.
[00:28:08] Speaker A: Welcome back to another Money Show. Thank you as always for being with us. We do greatly appreciate it we're here for you also if we can help you. We'd be honored to meet you. We'd love to talk to you. We had a we both Anthony and I separately spoke with one of our listeners. I won't say the the anything about city or gender, anything else but a person named Bobby. So shout out to Bobby. Thank you for listening. Bobby seems like a wonderful, wonderful person. So I'm looking forward to meeting.
So let's do this. Let's dig back into it. Oh, I should tell you how to find us. You can call us at 623-523-0444 or you can email us teamnothermoneyshow.com you can also go onto our websites like the one for the show is anothermoneyshow.com and book appointments. So if you're tired of the big corporations and firms and you want a family practice that knows who you are and what you have and cares about you and wants you to have your company name and your cell phone, reach out to to us and we'll be here for you. So let's finish up with our negative first half of the show. I apologize if I got a little emotional, but I will tell you what, I am a little bit emotional. I dug into this story of Kitty Genovc and it's interesting. I'm only going to read a couple things because you can look it up if you find it interesting. I found on my duck duck go search simplypsychology.org addressed it. And by the way, there are hundreds just in my limited search of articles about this. So I'm surprised. I had never heard of Kitty before. Apparently there's been movies made of her and TV shows. Anyway, on March 13, 1964, Kitty Genovese was arriving home from work in the middle of the night when she was brutally stabbed to death by Winston Mosley.
This horrific incident led to the coining of the term bystander effect, a phenomenon within social psychology that describes how people are less likely to offer help to a victim when other people are present.
I mean, think about that. On the surface, according to simply psychology, the bystander effect, a psychological phenomenon where individuals are less likely to offer help in the presence of others, is often cited as a rationale for why no one aided Kitty. Witnesses may have assumed that others would intervene, diffusing individual responsibility to act. Furthermore, uncertainty or fear of misrepresentation might have deterred action.
It can be difficult to know how to act in a high pressure situation in which an individual appears to be in danger. According to so called social psychologists John Darley and Bib Latane, a bystander progresses through a five step decision making process before intervening in any emergency situation.
The five steps are notice that something's wrong.
Define the situation as an emergency. Decide whether they are personally responsible to act. Choose how to help implement the chosen helping behavior. Another decision model is the common cost benefit analysis. Remember Daniel Penney on the subway? Here bystanders weigh the costs and benefits of helping the victim, justifying their decision based on which course of action will provide the best outcome for themselves. Man, that's a selfish, narrow minded take on this. I will tell you what. Whether you're riding the sub light rail, whether you're in church or in a school, I got an idea for you. Start thinking right now about what you would do if you were in a situation where somebody's in trouble.
This country needs to grow a pair, grow a set. I don't know how to politely say this, Sam. You know what? The world's uncertain.
It seems like we're normalizing chaos. You know California, when you didn't arrest people that stole anything under a thousand bucks. The hell's wrong with you? These cities that are having a lock up tide detergent behind glass and locks. The hell's going on with this country? Bring back law and order. So anyway, so if you're with a group and you see somebody hurt, act, don't think. Do the thinking. Now think. What will you do if you see somebody needs help? Because what if it was you? What if it was your sister or your daughter or your mom? What if it is your wife?
Sorry, I'm still passionate, aren't I? Yeah, let's move on. But the psychology of this. The woman on the light rail train arena, nobody helped her. People got up and walked around her as she bled out on the floor on the light rail train. Not acceptable.
Let's switch gears. I'll get into the. Let me get into the first article because this will give you a further example that our country might be changing rapidly right before our eyes. Dearborn Heights Police Department trots out optional patch featuring Arabic and English text. If you want to look this up and make sure I'm not making it up. I found this on fox news.com on the 8th of September. I would just read a hair of this because I guess there's not that much to say. This patch was created by Officer Emily Murdoch who designed it to reflect the honor and diversity of our community.
Especially the many residents of Arabic descent who called Dearborn Heights home. By incorporating Arabic script alongside English, this patch represents unity, respect and our shared commitment to service.
We are proud of Officer Murdoch's creativity and dedication in helping our department better represent the people we serve, the Post noted. Our officers serve all members of our community and this new design is another way we continue to celebrate the rich cultures that make our city unique, it added.
Republican Representative Randy Fine of Florida responded to a post on X about the patch, though the post he was reacting to did not explain that the new patch was said to be optional for officers. They said their goal was to bring Sharia law to America. You should have believed them. Pray for Michigan, fine declared. I guess I'll end this with the fact that our country is changing and if you want to end up like France, by the way, did I mention today's 9 11? Do a little poking around at France and kind of see how it's going over there. You may want to look at Venezuela, see what's going on over there still. So England. You know, a lot of the world is having growing pains with their immigration structure, with their melting pot lifestyle.
We're heading that way as fast as we can, so at least be aware and awake to it. I won't be here to see the end result, Sam. Unfortunately, you and my kids will be here.
Let's get on to some happy news.
Why don't we go to the Daily Hodl for the 9th from the 9th of September 163,440Americans now at risk of fraud. Names, Social Security numbers, financial account numbers and more potentially exposed. I only printed off this article because it's got a tie to Georgia where my buddy, the one and only Sam Davis resides. So the personal information of about 163,000Americans is at risk. And after a hacker hit Georgia based hospital with a ransomware attack, the legal representatives of Wayne Memorial Hospital in Jessup, Georgia say an unauthorized third party gained access to the health care facilities network in May and June of 2024. So Sam, I hope you're not part of this health network, but I got a question for you. So this happened a year and a quarter ago.
So this company was hacked a year and a quarter ago and they're just now telling you about it? That's a problem. Let me read one more thing here. The hospital's lawyers note the hacker could have accessed names, dates of birth, Social Security numbers, driver's license numbers, state identification numbers, user identifications, passwords, financial account numbers, credit or debit cards numbers, credit expiration dates, cc, CVV codes, Medicare or Medicaid numbers, health insurance member numbers, healthcare provider numbers, diagnoses, medical histories, treatment information, prescription information, and lab test results and lab images. So that's kind of shocking if everything in my life has been released because I went to a hospital in this network. That's scary. As you know what. And tell me when it first happens. Don't tell me a year and a quarter later. Hey, TransUnion. If any of the TransUnion brass is listening to us today on another money show here on 960, the Patriot Intelligent Talk.
You know what, Your job is to keep my stuff. I want to say the SH word today. This is three times I've tried to hold myself back. Your job is to keep that stuff safe.
So. And this is everywhere, by the way. I think I brought up last week when Anthony was talking about TransUnion. My information has been hacked from the VA, you know, Marriott hotels, T Mobile, you name it, it's been hacked. So of our financial companies, you know, a very large insurer, it wasn't them per se, but it was where they keep data on the cloud storage. The cloud storage company was compromised. So it's everywhere and it's scary. So, Sam, hopefully that is not something you are worried about in Georgia.
[00:38:14] Speaker C: Well, I have not been to a hospital in Georgia or I should say, I have not received treatment at a hospital in Georgia, knock on wood.
So hopefully none of my information's out there. Yeah, I mean, that is a concern. I mean, I, I was, I was going through, you know, name, email address, phone number, not so worried. I feel like everybody has that.
But then when I saw CVV codes, they've got the super secret code on the back of my credit card.
Now I know someone's been in my wallet.
[00:38:46] Speaker A: As capital One would say, what's in your wallet?
[00:38:49] Speaker C: Turns out cyber criminals.
[00:38:51] Speaker A: Let's move on. We have a loyal listener from the east side of the valley, guy named Art. And Art once in a while tells me of something I should cover. I'm going to get to this real quick because I do appreciate that when you give a show ideas, I do read them. I do take that seriously. He found an article on page A17 of the Epic Times from September 3.
Central banks do not prevent financial crises or control inflation. And I bring that up because next week, you know, next week, are they going to raise rates? Are they going to lower rates? Does my entire 401k, you know, today Dow was up like 600 points today. By the way, if you're watching the financial Markets, records after record, you know, I mean, there was a big murder yesterday. We're going to war with Venezuela, Ukraine. I mean, the whole world is on fire. And yet our 401k is doing great. So don't worry, as long as that can never change, we'll be okay.
So let's talk for a second about what the Epic Times thinks. Oh, this is some tiny print art. You're going to have to find me publications with larger print because I'm an old man.
So should I read here?
Independence vanished when central banks abandoned or ignored price stabilizing, blaming inflation on various absurdities instead of government spending and money supply growth.
You know, we're really, really walking a tightrope this month, you know, with raising or lowering interest rates. Obviously the current administration wants rates lowered. People that want to buy a house want rates lowered. People with massive credit card debt want rates lowered. People in Sun City that are savers want raise rates to rise. It's crazy, this article. I could read the whole thing, but it would take half an hour. It's really interesting. If you get the Epic Times, or we can always send it to you, reach out to us and I'll email it over to you. But it's basically saying that the central banks have lost all control and they are relatively worthless in the process of what we're going through. You know, Anthony talks about the movie boom, bust, boom all the time. We are in the biggest bubble in history I would say we've ever been in. There's no easy way out of it. I think it's an everything bubble. Bubbles don't deflate is the problem. They pop.
So whether the rates get raised or lowered, we're on this tightrope of inflation.
So, and I realize, I realize that, you know, the, the interest on our national debt is what, the third largest expenditure. I realize that we, we are losing our world reserve currency status. I realize we're screaming towards losing the fiat currency, the, the USD. We're heading towards a digital dollar. I get that. Whether it's going to be gold backed or not, I don't know.
I've got a friend, client who I saw Tuesday by the way, at West Valleyman's networking and he said the new currency will be gold backed. That's not what I'm hearing. It's not what I'm seeing. I'm hearing that the stable coins that are already being ushered in through the banks are going to be backed by the fiat currency, short term treasury. So that's just a joke. That's A comical thought, but anyway, so gold N. They need to audit the gold. Knox still. And government officials, if you're listening, you need to get in there just to make people like me shut the heck up. Because I don't think you have what you say you have. But who knows?
Let's move on here. Thank you for the article, Art. It's very in depth and there's a lot of really good about it. My eyes just are too bad to read it right now. I highlighted several sections, but I can't see it and I have no idea where my reading glasses are.
So anyway, it basically says the central banks are worthless. And I would agree with. It's kind of like me talking about the Federal Reserve all the time. They're not federal. They're not federal. It's a private. It's a private institution and there's no reserves. So they're not what they appear. And I don't think the central banks are either. Let's go to the Daily Hurdle for a second. On 1 September, Moody's warns US economy will be very, very uncomfortable in the next 12 months amid rising inflation and one other catalyst. I was curious what the other catalyst is. Let me see if I can find it. So let's see here. In a new CNBC television interview, Moody's Mark Zandi says that both rising inflation and Trump's immigration policies will lead to muted economic growth in the next year. So inflation. I have been watching inflation. I've been watching the government pee on our legs and try to tell us it's raining. So I know that inflation is not what they tell us it is. I know years ago we told you it's not transitory. I love that word. But it's not, you know, they have a. What is it? A 2% target? Inflation. It shouldn't. It should be zero. We need to get back to where we can afford stuff, government. But they're not going to get 2%. Now they're kind of leaning towards it's okay to have 3%. I don't think they're going to get that in a million years. Let's see here. Zandi warns that consumers will have to struggle with an increase in prices of goods and services due to Trump's tariffs. When's the last time you heard about the tariffs? Are they still on? Are they off? Is it 150% of China? Is it 45? You know, I mean, who knows with the tariffs? I can just tell you, even without tariffs, your stuff's getting more expensive, kids. So you better see me and we'll talk about alternate sources of income. You better see Anthony, who's very passionate about income, income, income, because you're going to need more of it than just your Social Security.
So you better talk to me. I'm shocked that I'm about to say this. I'll talk to you a little bit about cryptocurrencies. And as much as I believe they're baloney and they're air, people are making money. So you better figure your stuff out, because this stuff's not over.
Here's another article from the Daily Hodl. This one's from the 9th of September.
Oh, this one says, big short investor Steve Eisman issues warnings on large tech firm, overspending on AI. Here's his outlook, by the way. AI. I mean, yes, it's coming. Yes. You know, a lot of people are going to lose their job. So again, you better set up your income now because you're not going to have a W2 or a 1099 in the future. I think that's coming at us fast, too. You know, when AI gets here, when you couple AI with cryptos, is there really any need for humans anymore? Is there any need for bankers? I mean, the landscape is changing so fast. And that's financial. That's not. Let alone. You might get stabbed wherever you go or shot. So, boy, crazy world, man. I'm just a glass half full today, Sam. I'm a ray of sunshine. Say, don't you wish you were out of the country like Anthony and Matt McClure had to deal with this crap today, man.
[00:46:02] Speaker C: Right now Anthony's probably just finished dinner over in Ireland. He's got his third Guinness of the day, and he's just relaxed. And we're over here. It's the rainiest cloud overhead right now.
[00:46:13] Speaker A: Yes, and here I am chuckling. You know why I'm chuckling? Because you pay taxes on the bounty. I'm chuckling because Sam wrote up the fact that if you make a hundred grand this afternoon, you're going to owe the IRS like 26 or 28,000 of it. All right, moving on. Big short dude. What does he have to say? He's got to be a pretty smart guy. I've heard his name a bunch of times. So he's a smart dude. I just called Steve Eisman a smart dude. Hey, Steve, if you're listening, we take appointments. We'll even meet you on a Saturday if we need to because I'm pretty sure you're a busy dude. Anyway, one of the investors who called and profited off of the subprime mortgage collapse of 2008. Steve Eisman is now warning about the artificial intelligence boom. Makes sense. I've been wondering about this. I think people are getting AI fatigue. I think people are getting fatigue on a lot of different fronts.
So anyway, Wall Street Investors says on his YouTube channel that large tech firms are investing massive amounts in AI. But if the innovation doesn't start delivering on results, the market may implode like the dot com bust of the early 2000s. I've been wondering about that. We seem to be ahead of our skis. We seem to be growing much faster than what I know to be the results. Let's see here. If you go back to 1999, the Internet Analysis back then were all pontific analysts, I'm sorry, were all pontificating, I like the word pontificating, that the Internet would conquer the world. And they were right eventually. But at the time there was massive investment in that gold rush. Too much too soon, it turned out. And overinvestment largely caused the recession of 2001, by the way. Even after that recession was over, tech stocks then did nothing for a number of years. There is something of an analogy to be drawn potentially, and I emphasize potentially to current day, some critics out there who are arguing that the current model of building AI is just to keep scaling large language models. And that method, some argue, is beginning to lose steam, such that that the new ChatGPT 5.0 that was just released is apparently not much better than ChatGPT 4.0.
What we just don't know is what the return on investment is going to be for all of this spending. And if it turns out that the returns are at least at first disappointing, that investment will slow from the current torrid pace and we will go through a painful digestion period just like in 2001. That is my fear. And you know, I fear everything. So that makes sense that I fear that. But I think that's another bubble. So we'll see how it plays out.
But Steve, if you're listening, I agree with you. I think it's too much too soon. And I want to see how it ends. I, I think we're in an everything bubble. I think the housing market is going to continue slowing at the rapid pace we're seeing now. Even if they lower interest rates, lowering interest rates, a lot of people are held captive to their three and a half and poor 4% mortgage. You know, what if they lower interest rates enough and it spurs activity in the housing market, everybody starts listing their houses, guess what that could do? That could raise the price. And these houses in general seem to be about 30 to 40% overvalued.
A house in Sun City built in 1970, 1300 square feet, 350 grand.
That's insane. What's going on? So these houses are already way too expensive and if interest rates lower, they could get worse. I guess we'll see.
We'll see how it plays out. I think we're in a stock market bubble. I think the 30 companies that make out make up the Dow Jones Industrial Average are full of hui. I think when 10 stocks can float 90% of the S&P 500, you better not take it too seriously for too long. We've had a good run, we've had a 15 year run, so it's been good. I do know that money goes down a lot faster than it goes up. So boy, after going up for 15 years, watch your six like you do on the subway. So who knows? Let's get to. Let's get to something different, something interesting. Sam and this is more upbeat from the New York Post on 3rd September, furious homeowner says her insurance company flew a drone over her house and refused renewal for one minor reason.
So when Lynn Schuler looked up at the branches of the beloved tree in her Massachusetts yard, she never expected that a drone might be looking down on her. Schuler, who held a policy with the same insurer for more than a decade, was shocked to receive an email containing an aerial photo of her home and a warning that she had six weeks to cut back the limbs hanging over her roof or lose her coverage. It was very invasive because they had taken a picture of my home without letting me know, which was really kind of crazy.
Read a little bit more from this the longtime policyholder said she felt trapped removing the branches cost $1,200, but losing coverage could have jeopardized her mortgage.
I had insurance with this company for the last 12 years with no claims, she said. I've been a good customer to them. Industry critics say Shuler's experience is increasingly common as insurers adopt aerial imaging to assess risk. I think it's becoming very, very common, Amy Bach, executive director of the consumer group United Policyholders, told cbs.
My experience with insurance, whether it's medical, health, property and casualties such as this, insurance companies like 100% profit insurance, is one wonderful unless you ever need it. If you know me well enough, ask me next time you see me about my experience with Sandy and her health insurance. When Sandy had a bout with cancer. I got to learn that insurance is great unless you need it. Are we almost out of time, Sam?
Oh boy. Sam says we're out of time, so I'll stop on that. Let me tell you one more thing. I got a notice yesterday in my APS bill. So when you talk about inflation, APS is going up so about 16%. Come in. I'll read one real quick thing and then Sam, take us out. APS proposes to establish new general service rate structures to mitigate cross subsidiation by customer classes that are not directly contributing to the costs caused by significant and concentrated system load growth managing large load factor customers such as data centers. Remind me, Sam, to bring this up next week.
[00:53:07] Speaker C: All right? If you like what you heard, you can follow the show. It's another Money show wherever you listen to podcasts. All the episodes Also available@AnotherMoney Show.com if you'd like to write into the show, say hi, tell us what you like. Tell us what you don't like. It's
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[email protected] call the guys directly. 623-523-0444. That number's on the website. Here it is again. 623-523-0 444 and we'll be back next week with a whole other episode. Thanks J.R. it's been fun.
[00:53:45] Speaker A: Thanks Sam.
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[00:54:27] Speaker A: Hi, I'm Anthony Crayo, co host of another Money show airing on 960 the Patriot Saturdays at noon and partner of Rochford and Associates in Sun City. If you've heard our show, you know it's more news based and how current events could affect your finances versus an hour long infomercial. Well now it's time for that infomercial but I don't need an hour each week to tell you what I can say in 60 seconds. The key key to a Happy retirement is income. Income, income, income. Clients with low assets and those with high assets all have one thing in common, a fear of running out. Assets come and go. Income is forever. Self funding pensions is the key to a happy retirement and we can help you do it. Reach out to us at 623-523-0444. That number again is 623-523-0444, or find us on the web at anothermoneyshow.com and let us help you not worry about your retirement.
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