WEBVTT
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Any health related information on the following show provides general
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information only. Content presented on any show by any host
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or guest should not be substituted for a doctor's advice.
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Always consult your physician before beginning any new diet, exercise,
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or treatment program.
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It's time to stand up, speak out, get involved, and
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let's speak intention.
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Hello. Hello, Hello, and welcome to Intentional. I am your host,
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Mick me Ol. It is really good to see you
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guys today. You know, every Tuesday, Wednesday and Thursday two
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pm Eastern one pm Central Time, we are right here
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at W FOURHC dot com Forward Slash Shows Forward Slash Intentional.
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We just love being able to connect and engage with
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you all. Now, if you happen to catch the show afterwards,
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just subscribe, like sharing comment everywhere that you find Intentional.
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We are extremely grateful for your support. Are you ready
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because it's time let's stand up, speak out, get involved,
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and let's be intentional. So, who has noticed that things
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are are a little more expensive than they used to be, like, say,
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over the last four years. Okay, it's obvious. The latest
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Consumer Price Index report that was released just like last week,
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I think it was showed a higher rise than expected
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for the fifty second month in a row. That's month
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over month inflation rose one point eight percent in annual terms.
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That's what passes on to you and I, while the
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core wholesale inflation rose two point eight percent, and that's
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year over year. So this signals an inflationary pressure that
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is really still there bubbling underneath the surface. Now for
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those of you who are just working folks were not economist. Basically,
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this means that Americans are paying more for everyday necessities.
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We know this, we see it, we feel it when
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we pull out our wallets.
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Right.
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Housing and rent have gone up twenty two point nine
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percent over the last four years. Groceries you're either paying
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more or you're paying the same price, but you're taking
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home less. Electric and gas bills have gone up thirty
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one point three percent over the last four years. And
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the Epoch Times just reported last week that thirty percent
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of Americans say they owe more money on their credit
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cards than what they have in their retirement savings. And
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in that same report, they revealed that in August, Blackrock
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did a survey of one thousand registered voters about their
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thoughts on retirement security in America. The response for Republicans
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and Democrats when asked if they thought there was a
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retirement savings crisis in America, well, ninety three percent of Republicans,
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eighty six percent of Democrats, and ninety four percent of
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independence all said yes. There was also an agreement regarding
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not being able to maintain their standard of living in retirement,
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with three quarters of both Republicans and Democrats agreeing that
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this was a concern, and just slightly smaller amount of
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independent sharing this as a concern as well. Wow, I
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mean that's a lot of information, But you know what,
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what does that say about our quality of life? What
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about the ability to retire? And how about just the
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state of our economy. It says an awful lot to me.
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I know it does to you too. So today we're
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going to lean in with our special guest. His name
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is Joe Lombardi. He is the president, found and managing
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director of Ironhawk Financial. Okay, let's talk about it because
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it's the economy, and you please welcome with me. Joe Lombardi. Hello, Joe,
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how are you. I'm doing great. I'm doing really good.
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I'm kind of on a little bit of a roll today.
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It's Tuesday.
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Right.
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It is Tuesday, isn't it. Yeah?
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It is?
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I think so okay, great, great, I was just checking.
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You know, I sometimes lose my days. But Joe, I'm
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really glad that we have you as an expert. Your
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field is finance, and we are grateful that you would
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come on to discuss one of the biggest concerns for
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most Americans and the top issue for voters this election session.
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It is transcending both parties, and that's the economy. But first, Joe,
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I really would love it if you just got to
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tell my audience a little bit about who you are
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and what you do.
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Sure.
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I'm the owner and founder of Ironhawk Financial.
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I've been in business for twenty one years and won
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twenty seven industry awards. I've been featured in International Business Times,
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Business Insider, Market Inside of the Daily Caller. I'm on
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the cover of the top forty advisors in the country
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under forty years old through I INC.
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Magazine, which is right here.
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I also was on the cover of the Who's Who
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for Building Construction. I'm also in the Marquis Who's Who,
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which is which is an congressional library. I've also written
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and published three books, being your own bank. There's a
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better way than a four toh one K long term
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care without long term pains. Five star rated on Google,
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A plus rated, and the Better Business Bureau at zero complaints,
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thousands of clients. I had billions of dollars of protection
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and rollovers in my career, license in all fifty states.
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I have a team throughout all fifty states, and yeah,
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I'm My main goal is just try to help a
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leave taxation because I believe taxation is theft. I believe
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that since they abolish slavery, we're still in it.
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It just doesn't matter what color your skin is anymore.
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They're just taking half of everything you earn.
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And I have strategies that the ultra wealthy use, and
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I bring it to the blue collar middle class Marcus
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to try and help them alleviate taxes and can easily
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save my clients upwards of a million dollars in taxes
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over their life and about one hundred thousand dollars in
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interest over their life.
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Very simply, wow, that's amazing. That is a list. I'm
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just massively impressed. So I'm glad that you're with us today.
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I bet you've got a ton of insights and I
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know you heard my monologue. The feedback Joe that I
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get is that the state of our economy is overwhelming
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in the fact that Americans are hurting. There was a
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barber in the Bronx who told President Trump that as
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electric bill went from twenty one hundred dollars to fifteen
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thousand under the Harris economy. And I know there's many
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factors in play here, Joe. There's government over spending. We
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had the Inflation Acceleration Act, that's what I call it,
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the Green New Deal Bill. There's been supply chain crises,
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There's been the reduction of American oil energy production, and
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there's seems to be and not really seems to be.
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There is a concerted effort by the current administration and
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what used to be the media to gaslight people with
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propaganda saying that the economy is wonderful. So we hear
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the stock market is up, and if the stock market
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is up, then the economy is great. But in real life,
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that's not what people are really feeling and what they perceive.
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So you're financial advisor, you have a long list of
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accreditation there. How did you see the evolution of the
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American economy and what should people really be aware of.
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Yeah, I mean it comes down to the new economy
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is run on derivatives, and a lot of people don't
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know what derivatives are, call options, calls, puts, long stops, warrants.
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So there's a movie, The Big Short, with a guide
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bet against the mortgage backed security industry and made a
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billion dollars.
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So our whole world is run on fluff right now.
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What a lot of wealthy people do is, let's say
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they own a building for a million dollars and it's
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paid off. They'll lean the building to buy another asset.
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So you're talking about derivatives. A lot of it is
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using collateral to make money out of thin air. I mean,
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if you have a building and nobody wants to buy it,
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but the bank will give you a lean on it
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or a levy on it, you're literally just creating money
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out of no aware and a lot of people don't
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understand how derivatives work. How gold and silver, the price
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of it has been suppressed for so long so that
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they can make profits on the smart cars, the electric cars,
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the iPhones, the androids, Because all that takes what gold
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and silver, lithium.
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Batteries and the motherboards.
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So a lot of people say, you can't just keep
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prices down, like, how does that work? It has to
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do with options, right, So if somebody buys a put,
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it's betting against it. And when I say somebody, I
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mean like Black Rock or Vanguard, where they buy puts
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in the trillions or hundreds of billions. It's hard to
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compete with that. Right all over the news was what
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game Stop member? When Game Stop shot up, AMC shot
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up because they were being suppressed and held by the
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powers that be, and then enough people came together open
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the floodgates and boom, all that money that they were
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keeping the price down was then retrieved back to the people.
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So it's that.
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Same type of concept that runs our economy. And a
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lot of people don't understand is that on one asset class,
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you can either own the asset class or you can
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own a contract on the asset class. Well, if you
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own a contract on the class, when there's a derivative
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a call along if the market were, let's say, to crash,
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you don't lose anything, but on the actual owning the stock,
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owning the position, if the market crashes, you lose.
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Dollar for dollar.
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Not only that, on the flip side, when you have
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option contractstead of just owning the actual asset, when the
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market goes up, you make more than the person that's
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actually owning the actual risk. It blows my mind that
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the average American knows nothing about options, there's nothing about derivatives.
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But yet there's more derivatives in our economy right now
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than cash instruments.
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Wow, So what does that mean for people like me
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who are just I'm not an economist, I'm a nurse,
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working class. So what should that mean to me? And
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how should I process that information?
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Yeah, I'm sure I went to college and you're still
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in third grade financially, like I am, with different aspects.
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I understand that if you talk to me on medicine,
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I'm like, huh. So what that means, basically is is
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that the four to oh one K, the IRA, even
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the roth IRA, the brokerage account, all those accounts were
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designed and manipulated when Wall Street went in collusion with
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the federal government, and when that happens right around the
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seventies early eighties, because four o one ks used to
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just be able to hold cash and they used to
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be tax free, believe it or not, and so when
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Wall Street colluded, they said, hey, government, there's like millions
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of dollars, which back then is like billions of dollars
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today sitting in cash. We want our hands on it. Right,
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So when you deal with the government, whether it's a
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four oh one K and IRA accept simple pension defer
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compt four to fifty seven to four to oh three
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B for TSP, when you deal with the government, just
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know that you're getting the raw inento the stick. There's
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no competition. It's a monopoly. There's nobody competing for your money.
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It's not like Canada is competing for your money or
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Russia is competing for your four oh one k money,
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and so.
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It's stacked up against you.
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And what people need to understand is, yes, we don't
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save a lot, but the listeners here that do save,
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they probably have one of those instruments A four oh
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one K and IRA A four h three b A
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four to fifty seven. Those accounts are the worst long
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term investment on the planet. You have fees twelve B
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one feed class a share fund, feed money manage fee
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in your account fee meat your fund expense fee, AUM fee.
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And then you have taxes when you take it out.
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You have federal tax, state tax, FICA, Medicare, unemployment, social Security.
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So if you understand that while you're funding the money,
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half your money's being stolen and fees by Wall Street,
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you're getting nothing for that. When I say nothing, I
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literally mean nothing. They're just taking anywhere with a point
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and three points to your money. Well, you do get something.
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You get the satisfaction to know you're paying for some
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schmucks Lamborghini in Manhattan.
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Maybe that makes you feel good. Probably doesn't. No, Then
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when you pull.
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The money out, it comes to as ordinary income. And
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do you guys know where taxes are going? Taxes are
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going up right now. We owe thirty five point seven
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trillion dollars in debt, we owe twenty seven point four
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trillion dollars in Medicare, which was stolen out of Medicare,
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forty trillion sold security, stolen out two hundred and twenty
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trillion of US unfunded liabilities. If your listeners can go
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to us clock dot org. It's a free resource that
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tells you where our current economy is. And one supply,
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the gold supply, everything gives you a full rundown of
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our entire economy. You don't have to be a genius
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on it. But if you just see, you'll see how
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far we are in debt. Every less than one hundred days,
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our debt goes up a trillion dollars.
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WHOA.
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In the nineteen eighties when I was born, highest marginal