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Morgan Hamon, co-founder and president of EAG Dental Advisors, returns to the podcast to talk about dentistry financials. As a CPA, Morgan pulls from his experience to talk with Kiera about what it takes to be profitable (beyond revenue and expenses). Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: Kiera Dent (00:01) Hello, Dental A Team listeners. This is Kiera. And today I am so jazzed. I have one of my absolute favorite guests back on the podcast, Morgan Hamon. He used to be with HDA. They have now upgraded their name to EAG Dental Advisors. Super excited. He's an incredible CPA, does all things dental, loves airplanes. He's been on the podcast so many times. We've had some good chats. Dear friend to me, Morgan, welcome back to the show. How are you?   Morgan Hamon (00:20) Ha ha.   Kiera, I'm doing good. It is so great to be with you and looking forward to our conversation today.   Kiera Dent (00:31) to you and me both. So I have to know since you love airplanes and it's in your background, are you a fan or not a fan of Top Gun? I just need to know.   Morgan Hamon (00:35) Mm-hmm.   You know, I have a soft spot   for that movie because when it came out in 1986, I was 15. And I, you know, I sort of set my sight. That definitely influenced me. said, that's what I want to do. So I went out and did it. And so.   Kiera Dent (00:46) Mmm.   So then how did you like Top Gun Maverick? was the second? Tell me, are you fan?   Morgan Hamon (00:56) That one, the purpose   of that movie was entertainment and it was entertaining, but it was a little, you gotta suspend disbelief a little bit. It was a little nostalgic because that was set in Naval Air Station, Lamar, which is where I was for eight years. So it was pretty cool seeing that and the flying scenes were real. And so they were all filmed out. It's called restricted area 2508, which is where we always used to fly. So it was pretty nostalgic seeing some of the flying scenes back where we used to go fly.   Kiera Dent (01:17) Mm-hmm.   Morgan Hamon (01:26) But technically, there's a little, like any movie, there's a little Hollywood going on there. But it was entertaining.   Kiera Dent (01:26) No.   can't   How cool though that they like made a spot for Iceman with him having throat cancer. I thought that was incredible. Like way to go Tom Hanks. So I know you guys didn't come to the podcast to hear Morgan and I talk about top men, but we're going to segue now because Morgan does all things. We love to talk profit. We love to talk taxes. We love to talk all things nerding out on CPA land, which I have really truly fallen in love with like understanding my numbers. So this is a soft spot for me, but   Morgan Hamon (01:39) Yes   Yep.   Hahaha   Mm-hmm.   Kiera Dent (02:01) Morgan said he won the topic today, which I think is a sexy topic and I cannot wait where he said leadership relates to profitability. And I said, Morgan, sign me up. Here we go. So Morgan, this is our time. This is our topic because I absolutely agree with you that leadership does relate to profitability, but take it away. And then we're to dig into tax savings. We're going to dig into all this stuff and who knows where else we're going to go, but ⁓ it'll be a great one. It always is.   Morgan Hamon (02:16) Mm-hmm.   Yes.   Well, think   this topic has evolved with me a little bit, because we've been doing this 15 years and going now. And so a lot of conversations over the years. And I've always thought about profitability, which let's face it, that's why we own businesses. We don't own businesses to pay tax. We own businesses to make a nice living and have some control over our lives. So you've to have profit, and it's hard owning a business. So if we don't have adequate profit, why bother? ⁓   Our mission has always been to really focus on profit, give our doctors feedback on what that profit is, and diagnose if things are, you know, if there's something that could put more money in their pocket. Now, with my CPA hat on, right, there's two parts of that profit equation. There's the expense side of the equation and the revenue side of the equation. And so for a lot of years, I mean, that's where our focus has been.   But I've recently, last year or two, I've really come to the conclusion, look, there's a third component there, right? And it's not math, I can't point to the P &L. But where this comes from is I get asked all the time about, and it's from the clients either considering a startup or purchasing a practice, and they'll say, okay, Morgan, you got clients all 50 states, like where's the great area? Where should I go where folks are doing well?   Kiera Dent (03:27) Ooh, I can't wait.   Morgan Hamon (03:47) I that question. I get asked, hey, do you have a special report for pediatric dentists? Because I'm going to be pediatric, so I'm going to be making more money kind of thing. Or I'll hear a report. Or I'll get a question that, do you have a report just for your clients in California? Because it's like way different out here. And I say, look, the answer is no. We have one report. In geography and specialty,   I think they may influence profitability, but that's not the deal breaker. We have plenty of clients who are specialists. The struggle, we have plenty of clients, like one of our longest term clients is in Nob Hill, San Francisco. She recently moved across the bay, but it's like the most expensive city on the planet. She killed a 55 % profit margin for like 10 years. So geography isn't, that's not how we connect the dots. I think we connect the dots with leadership.   Kiera Dent (04:33) Yeah.   Mm-hmm.   Morgan Hamon (04:43) You know, we have a lot of clients I've known for a long time. I've been with them along with their journey as I've been on my journey, which has been very rewarding. And I've come to the opinion that if we quantify success for a doctor and let's, and we'll talk a little bit more about this when we get to tax, but you know, is it money? Is it time? Is it all the above? If we look at, who's crossed the finish line? Who has the full deal? ⁓ It's the doctor that runs a tight.   Plain and simple. Like you can tell in me talking with them, I know them real well. You can tell by their numbers. Look, they're an amazing clinician, but they're also an amazing business leader. They know how to inspire their team. Their patients feel comfortable. They lead from the front. They just, they do it all. Those are the doctors that have the high profit margin and the high quality of life. It's not geography. It's not specialty, although that can have an influence.   That's the full package. So it is, yes, revenue, expenses, and how well do you lead your practice, in my opinion.   Kiera Dent (05:50) Morgan, I was so happy when I read that and when we were talking about what to bring on because I see it as well. I tell everybody, I can tell walking into a practice even before I walk into the practice, if I've met the leader of the practice, I usually can tell if this practice will be successful or not, truly based on the leader at the helm. And it's interesting because we did, I recently did this at our summit. So people were there, awesome.   Morgan Hamon (05:52) you   Kiera Dent (06:16) If they weren't, that's okay too. But we actually broke down and me and the consultants, we went through all of our clients. Like we looked at the clients, we looked at past clients, we looked at future clients, we looked at different pieces, what were our best clients, what were our worst clients. And I actually broke down, I'm trying to pull it up here, of like common themes of great practices and like great leadership and common themes of the not so good. And so some of the things I've seen in...   Morgan, I'm super curious to hear like what you'd add to our list. Cause I, you see it from a different perspective than we see it. So on my not so good list, these are the ones that like really they always are floundering is they don't trust their office manager. They're sometimes poor clinicians. Like they need to hire somebody else or get some training for that. ⁓ Poor leaders, they have team turnover constantly. They don't implement strategies. They're highly driven by emotion. They don't look at their numbers or their results.   Morgan Hamon (06:45) Mm-hmm. Mm-hmm.   you   you   Kiera Dent (07:11) They do a lot of CE, but they never like implement. They have lots of coaches, but they don't trust and execute. They're half in on everything. So they're not like solid on anything. They want to pay to fix the problem with no self-realization identification that maybe they are the issue. They have ego fear with no accountability. And there's a lot of blame. Like everybody else is the problem. Are some of the things that I've seen and I don't know, like I know I'm putting you on the spot. didn't, I have my nice list over here, but is there anything else you see of patterns? I'm, you and I can both like,   Morgan Hamon (07:30) Mm-hmm. ⁓   Kiera Dent (07:41) in our Rolodex of humans we know are not so good leaders or the practices who aren't as profitable, are there any other things you've noticed in their leadership that maybe isn't as strong?   Morgan Hamon (07:41) No. Right.   Well, that was a very comprehensive list. Once we're done, I'm going to write all those down because I that's very good. If I were to summarize that, if we talk about leadership, it's really about ownership and engagement. You have to own it. Everything's your problem when you're the owner. There's another podcast I like.   Kiera Dent (07:58) Yeah, of course. I'll happily share. I will happily share. And if you get anything else, share back our way too.   Morgan Hamon (08:20) and it's nothing to do with dental, it's all about leadership. And there's a saying, and it's really stuck with me, and I swear I think about this every day, Kiera, when I think about my business and how do we keep doing a good job, is that if there's a problem in your organization, it's a leadership problem. You can trace it all the way back, go any direction you want, it's going to tie back to a leadership problem.   So, if something is going sideways, it ultimately comes back to your leadership as a business owner. So, maybe the staff, maybe there was a bad patient experience, something went sideways with the patient. Was that staff trained? Maybe they were trained, maybe they were not held accountable. Do you have a bad procedure? Maybe the procedure needs adapted. mean, we think about that all the time, constantly adapting, constantly tweaking, and I think you have to do that in any business. If, like you said,   in your list there if people don't want that accountability, there's always making excuses or they don't want to engage. They say, you know, and maybe they are a good clinician. They say, I'd rather just be in the operatory but my staff's a mess. Kiera, come on in here and whip them into shape and let me know when it's all good. You know, that's not how it works. That's not how it works.   Kiera Dent (09:32) Exactly. No, not   only they're part time. I'm not your manager. I'm not your leader. I'm not your boss.   Morgan Hamon (09:38) Right, or you know   what, I'm going to have an hour meeting with my accountant and that should solve it. Like, no, we're going to come up with some action items and then you need to execute those. So you have to own it. Everything's your problem when you own a business. ⁓ And if you own it and you engage, then I think we're on the right path to not be on that extensive list that you gave, which I just love.   Kiera Dent (10:03) right? Yeah, no, and I love it. And   it just made me actually think of something I heard a financial conference and they said EBITDA equals engagement. And I've thought about that a lot because the more engaged your team is, the more engaged you are, honestly, a lot of higher EBITDA there is, I won't leave our audience hanging. I do have the good list and maybe you can add to this to see. So the ones that I found like, that truly just knock it out of the park, these are our most successful right? I'm like, what is their DNA makeup that makes them this great leader?   Morgan Hamon (10:22) Mm-hmm.   Mm-hmm.   Kiera Dent (10:32) and it's their great implementers. They allow the teams to be free, like within the parameters. So they've got a great team culture. They're great at decision-making. They execute, they're consistent. They roll with the punches. They have long-term teams. They make their decisions based on numbers. They're great visionaries. And they know what they're working towards. They don't get distracted. So there's this laser focus that they have. ⁓ And on here, I would also say that they have massive ownership. And they also are not afraid to have the uncomfortable conversations with their team.   Morgan Hamon (10:52) Mm-hmm.   Thank   Mm-hmm.   Kiera Dent (11:02) So   like they truly do, they're excellent at it. They might not be excellent communicators, but they're excellent at like tidying it up, driving their team for success. Those are some of the things I see, but I'm curious if there's anything else you'd want to add to that list because I think you're right. But I think that's a DNA makeup, right? It's people who are disciplined. If I go into the gym, they probably have like strong work ethic. They are laser focused. It's just like, it's who they are in all the aspects of our life, but I don't think they're necessarily born that way.   Morgan Hamon (11:10) Mm-hmm.   Kiera Dent (11:30) I think a lot of them can be, but I think a lot of them create that over time as well. Like it's an evolution of them, not necessarily like, if I'm just born a great leader, like, no, they're constantly working on it, but I'm curious your thoughts.   Morgan Hamon (11:34) Mm-hmm.   Thanks   Yeah,   no, I think that's a good list. If I were to try to tie that together, I would say it's you lead from the front. you know, like all just a personal example for me, like responsiveness is a huge part of our culture. Like, you know, if clients reach out to us, they need to hear back like in a few hours, like today. Lead from the front. is not do what I say. It is do what I do and keep up. Keep up with me.   Kiera Dent (12:03) Yeah.   Morgan Hamon (12:12) Let me show you what I expect. You follow my example and let's go where I'm leading us. I think is when you own a dental practice, you have to do the same thing, whether that's in the daily huddle. You lead by example. If there's a certain patient experience you want your office to have, you have to lead that. They have to be emulating you and say, I sure hope I can do this as well as the doctor. ⁓ Lead from the front. I think you also have to make sure your team understands why their work is important.   Kiera Dent (12:42) cream.   Morgan Hamon (12:42) And   I do that all the time. Why is our work important as well? Because our clients are these dentists. They're drowning in debt. They don't necessarily learn how to run a dental practice in dental school. They're trying to put it all together to make a nice living. And they have probably eight or 10 employees that are accounting on them for their jobs. So our work matters. We're working with people's lives here. So you really have to... ⁓   I think articulate why the work's important and maybe that's not as challenging and don't practice because everybody knows. It's care. They're there to get care. They're in the chair. They're scared. They want to be comfortable and everything's going to be okay. I think you got to lead from the front. You got to say, look, let's do what I do and make sure you keep up with me.   Kiera Dent (13:32) Yeah, no, I love that. I just, think something that I love that you brought this up is I love when I have things internal, as much as it's annoying, that could actually help me become more profitable. It's like, hey, let me go to the gym and work out to be more disciplined. Let me read leadership books to learn how to lead. Let me practice uncomfortable conversations. Let me practice my decision-making. And the reality is like you becoming this person and leadership.   Morgan Hamon (13:34) you   Hehe.   Mm-hmm.   Kiera Dent (14:00) will equate to higher profitability. It's wild. Like I look back at maybe not so strong of leadership days and my business and profitability, I think definitely mirrored and matched where I was. And so also for us to say like, Hey, how do I maybe get to the next level? How can you evolve as a leader as well and be a bit stronger of that good version rather than the not so good version I think is really powerful.   Morgan Hamon (14:10) Mm-hmm.   Hehehe.   Yeah,   I think you really have to recognize whatever industry you're in that your technical skill and your leadership skill are completely different. You have to invest in those skills to acquire those and to maintain them. And just because you could be the most amazing CPA, just brilliant practitioner, that doesn't mean you're a good leader. You could be the most amazing clinician.   Kiera Dent (14:35) 100.   Morgan Hamon (14:51) and just do the most amazing work. That doesn't mean you're gonna be running a ⁓ great tunnel practice. You have to invest in those skills. Just being a smart person with some big degrees, that doesn't do it. You have to acquire those skills. And I didn't realize, I mean, when I was a younger guy in the Navy, I I learned all this. back then, I was just trying to do a good job and...   get killed and and make it all happen. I didn't realize all these amazing lessons and training I was learning because they, mean leadership is, I mean that's first and foremost what we're there to do and so I was very fortunate in that regard but I don't, you you can't, no matter what business you're in, can't rest on your laurels. You got to always be thinking about leadership. Am I being a good leader? Okay, this is going sideways. I need to lead the team back, you know. I can't just, you know, write a memo.   Kiera Dent (15:17) Yeah   Morgan Hamon (15:44) Hey everybody, this is where we need to be. Follow me. Keep up with me.   Kiera Dent (15:49) Yeah, no Morgan, that was such a brilliant piece and I really loved how you just highlighted it and so fun to see that what we see on the team side and the success of the growth and the production and the collections also now correlates with your financial PNL, ⁓ which I think is just magic and it all just ties together. But as you listen to this list and Morgan I talking about it, I also want to just say like if this does not light you up and you're like, ⁓ gosh.   Morgan Hamon (16:05) Mm-hmm   Kiera Dent (16:17) That's okay. You actually can just be an amazing clinician and have somebody actually be the great leader. Just because you opened the practice and you do the dentistry does not mean you need to be the leader of the practice. So I've seen some doctors actually be great implementers. Like they actually would rather execute, implement, do all the ideas and have somebody else be the visionary. That's okay too. And I think like my best thing is know thyself and be free. But if you want to be more profitable, look at this. And I want to take like a sharp   Morgan Hamon (16:18) Mm-hmm.   Mm-hmm.   Hmm.   Mm-hmm.   Yes.   Kiera Dent (16:46) right turn Morgan and talk taxes. It's like, didn't know how to awkwardly like transition. So I'm just gonna like, but I want to talk taxes because I'm like, this also ties into the discipline of leadership, the ownership of leadership and like being freaking savvy to learn how to do taxes better. Like Morgan, I had this client the other day and we were talking and we built this like cute little overhead scorecard for people. We have the EBITDA on there. It comes from the CPAs. So we're like, just make it very simple, like black and white.   Morgan Hamon (16:53) Mm-hmm. Mm-hmm.   Mm-hmm.   you   Kiera Dent (17:15) And then I was like, wait a second, I should throw a tax bucket on there. So like what you're getting paid for your W-2 plus what your profit is, like that gets taxed. I have a doctor, she has been an owner, we're talking 20 plus years. She's like, Kiera, I never knew that my profit had to get taxed. Like I never knew that that extra cash, like I just thought that was cash that came to me. And I'm like, this is why doctors are always broke because they don't know how this works out. So I'm super excited to talk about.   Morgan Hamon (17:21) Mm-hmm.   Mm-hmm.   you   Mm-hmm.   No. Right. Mm hmm.   Kiera Dent (17:45) tax planning, it's mid-year, let's make sure you're not crying in December and like, popping the confetti.   Morgan Hamon (17:46) Yeah.   Yeah, right. And   crying in December. if you recall, ⁓ my topic was just kind of the psychology of tax. And again, this has evolved over time with a lot of conversations. I think...   Kiera Dent (17:54) was New York I'm   The   is like the wise sage over there, Morgan. Like you got, like, just, you're just hanging out over there.   Morgan Hamon (18:09) Well, it's always trying to,   you know, I think about my conversations. How do we kind of empower these dentists to achieve this? And it's all through, I think, education. You've got to understand why. Like this doctor, 20-year-old, didn't understand.   Kiera Dent (18:29) I was like, no, I'm not wearing a strip.   Morgan Hamon (18:30) Every initial consultation   I'm having now with a startup doctor, we do a tax 101 just real quick, takes me like five minutes. Let's get our hands on some concepts here. Why I think this is important to really understand and talk about tax, just kind of how it makes us feel, is because we've had some instances where you have a doctor, and let's just say on our previous conversation, this is how we're gonna tie it together, right? So we have the doctors on that secondary list,   They're rock star. They're killing it. They're making tons of cash. They're engaging the right people. They got the right people in place, and it ultimately results in a lot of success. I've seen people do that, but then when it comes time for tax, they lose sight of all that, and they get just really obsessed about that tax bill. They lose what I'll think of as like peace and fulfillment.   just at the start of the call, I recently got remarried and my wife and I, we talk about that a lot, peace and fulfillment. Why do we have that in life? And that's what we're working for. And I think when you own a business, you're working towards something, right? And we want to have that peace and fulfillment. And I've seen that just get destroyed with people because they get very emotional and overly focused on their tax. And I see the logic just sort of exit stage left.   and we just end up with this very emotional reaction to tax. And who I tend to really direct this conversation to is not necessarily what you just described, Bill. That's kind an interesting one. Usually if someone's been making great money 20 years, they kind of know the program. It is, Kiera, it's the newer owners making real money for the first time in their lives. And that is where there's an adjustment. There's a mental journey they have to go on.   Kiera Dent (20:21) 100.   Morgan Hamon (20:29) And so what I thought today, like, I guarantee you we have some listeners as soon as they heard tax, they're like, what's on their mind is, what's the secret? How do I save more on tax? Well, it does. So, right? So we're going to get to that. All right. Well, we'll get to that. But before we do that, I thought, let's have some straight talk.   Kiera Dent (20:40) It does feel like the CPA's hold back or the secret robot. mean, tell me your Harry Potter rules there, Morgan. I just want to know. I need to find one CPA that just knows the secrets of the trade.   Yeah.   Morgan Hamon (20:58) Let's have some straight talk on tax. Why is this emotional? Why is this hard? Let's just take the journey of a doctor that is an associate doing pretty well with their W-2. We all think that we all go in W-2s. You have mandatory withholding. It comes out of your check, gets fired off to the government. You get your net check and you might look at your paycheck and go, what's all this stuff? don't know. I got my net check. I'm to plan my life around this net check. Then we do the tax return.   There's always a little settle up. You might owe a little, get all my back. You always hope to get a little money back, but generally you just plan your life with never having your hands on that money as a W-2. So now we own a business. You get all that money and then we now have to turn around and pay it back. Now keep in mind your tax rates. Okay. If you are married, Google the 2025 tax rates, right? That's what they are. That's what they are. If you're an employee.   Kiera Dent (21:44) Yep.   Morgan Hamon (21:55) That's what they are if you're the owner of a pass-through business. They are the same. But that act of having to turn around and write a check just is, you gotta become comfortable with that and it's an adjustment. ⁓ And here's the other thing where if we just, okay, let's take all our emotions about tax, let's just kind put it over the side and let's just talk very logically.   Kiera Dent (22:12) I agree.   Morgan Hamon (22:23) If you're gonna make three times as much money, what's also going to be three times as much? Your tax. But it's actually maybe a little bit more, right? We got a progressive tax system, right? So, I think when people become high earners, and they go through the grieving process,   Kiera Dent (22:36) see what we feel. It's awesome.   Morgan Hamon (22:48) And I guarantee you, I'll just talk through this briefly, but Gary, you and I have both been through this. And the doctors that are killing it and making lots of money, they've probably been through it too. But if we think about the grieving process, what's the first step? All right, it's denial. Okay, it's the first year you went from making 200 grand as an associate and now making 700 grand. And we've already written off the equipment and now we got 700 grand income. And you get your tax plan and you're like, what? This isn't for me.   Kiera Dent (22:54) Yes.   Morgan Hamon (23:17) Honey, think our email got hacked. We got this, this can't be right. This isn't mine. You go full on denial, this can't be right. And then we're like, no, I'm sorry. I'm sorry, that is your tax plan. And then we immediately go to anger. I'm so mad. thought Morgan was, I thought Morgan was this cool guy. I'm mad at him.   Kiera Dent (23:22) I'm   Hmm?   I need a different CPA, Morgan. I'm finding a different Harry Potter wizard. I need someone better than you.   Not today, I'm out of here.   Morgan Hamon (23:45) You get angry.   You're like, what the heck? I got this tax bill. So you get kind of angry. And then you go into bargaining and say, you know what? I'm going to go buy a CEREC machine tomorrow. Say, OK. I mean, do you need that? mean, do you do a lot of grounds? So you get all, I'm going to do this, this, and then where people are really in troubles and they stop making their estimated payments. Well, this can't be right. This can't   Kiera Dent (23:53) Hahaha.   Ha   Morgan Hamon (24:14) I'm going to go, I'm going to buy this and this and this. And then we start, there's a 6,000 pound truck. I'm going to go buy this big truck. And I kind of joke around a little bit. Yeah. So you get into bargaining, right? And then you're like, OK, well, gosh, I don't need any other equipment. I'm already doing the stuff. And then you get into depression. You're like, really? Am I going to? I guess this just stinks. And then finally, get to acceptance.   Kiera Dent (24:23) G-Wagon right now. I'm gonna brand it.   Morgan Hamon (24:43) and you realize if you're a high earner, there is a corresponding bill. Now that can be managed. There are ways for legal, perfectly legal tax avoidance to get into the so-called secrets. But you go through this journey. This has just been my, I guess, my 15-year research project. I've been through it personally myself, and I'm a CPA, and I still like writing this check. Dang. ⁓   Kiera Dent (25:06) same.   you   Morgan Hamon (25:13) But,   so that's what we have to, I think, wrap our head around, you understand that. And I encourage people, look, if you're a dentist, and maybe this dentist joins the seven figure club, right? You got seven figure profit, that's pretty amazing, right? That's really good income. But you will have a six figure tax bill. And that's okay. That's okay. ⁓   Kiera Dent (25:37) You will.   Morgan Hamon (25:42) And you just, got to get through to acceptance and take comfort in that you are engaged to take advantage of the legal opportunities that are out there for proper tax avoidance. And that's the, we talk about the secrets, you know, I see these clowns on, on YouTube of like, ⁓ I know the secrets of the tax code. mean, if you see that, I mean, just run. ⁓ There are no secrets. They're all well-known. Like I know all our competitors in our, the dental field and I'm on friendly terms with many of them.   We all know these. We all know the stuff that can be done. Legal tax avoidance. here's, we'll call it the secret, ⁓ Dentists, everyone's part of it. Here's the secrets, okay? Here's the secret. When you have a pass through business, which is what these dental practices are, right? So the business, and this will shed some light on your client 20 years, right? Your business does not pay income tax. The business tax return   Kiera Dent (26:22) Everybody's perking up right now, Morgan. They're like, okay.   Morgan Hamon (26:42) is math. It's absurdly complex math, but it quantifies the profit that's passed it through and gets listed on your personal tax return. And you owe income tax on that profit. That's what it means by pass through. And it's all ordinary income tax. There's no special tax rate for business owners. It's ordinary income tax. So how do we save money? Here's the secret. We have to capture as many expenses that we're otherwise incurring and capture those as business deductions.   When we do that, that lowers profit. Less profit passes through to the personal tax return, you pay less tax. That's the secret. So you have to execute the strategies, right? The home office is perfect for doctors. Totally substantiated, totally mainstream deduction. That's what justifies the car.   You can deduct a car, but that means you have to be engaged. You have to get the mile IQ. You have to understand what is your business percentage use. You have to do this right. You have to document it. There's things you have to do right. Take your board meeting. ⁓ If the cash flow allows, have a qualified retirement plan. Take full advantage of that. ⁓ If you're okay with having staff over to your house, have those meetings at home and have the office rent it from you. again, these aren't... People know these. This isn't...   I'd love to tell you I'm some genius that went and studied the tax code and formulated all these myself. This is out there. What you're engaging with your CPA is folks that will actually bring this to you and do it, but ultimately the doctor has to do it. What I think about is if someone thinks, well, I'm just going to have an hour meeting with my account at the end of the year and they're just going to take care of all of this. That's like saying, you know what?   Kiera Dent (28:07) haha   cringe.   Morgan Hamon (28:30) I know I need to work out and eat right to be healthy but I'm just going to go meet with my doc this fall and that should do it. Maybe they'll give me a pill that'll make me in shape and healthy. But no, you got to do the stuff. So if your accountant tells you, look, take a board meeting, document it properly, there's a proper way to do it, you got to do it. That's how we say the proper legal avoidance. your account comes to you and says, look, it's time to be an S-Corp,   Kiera Dent (28:51) Mm-hmm.   Morgan Hamon (29:00) because the profit is appropriate, you gotta follow the instruction. There's a procedure there and it's gonna save a lot of money on self-employment payroll tax if it's done correctly. You gotta listen, but you gotta engage. There's action items. And so we, ⁓ every September, I made a checklist. You know, again, Navy guy, right? I got a checklist. Log in, do the checklist. I call it our business tax savings maximizer. That's the flashiest, catchiest name I could think of. But like, log in and do it. That's the secret.   Kiera Dent (29:19) I love it.   you   Morgan Hamon (29:29) So, you know, for those listeners that waiting for the secret, that's it, right? We got to capture expenses as business deductions and there is action items for the doctor. It requires that engagement. And to circle back to where what you said earlier, like you can't come into the office and just fix it for them. They've got responsibilities on things to do too and that's the same with tax policy.   Kiera Dent (29:53) I thought that was such a beautiful way. And as you were going through the phases of grief, I'm like, oh yeah, I definitely lived all of those.   Thanks for kicking it off with Top Gun, ending with like tack strategy. Thanks for sharing some of the tips. But truly super honored to work with you and love what you guys are doing for dentists out there.   Morgan Hamon (30:04) Alright.   Kiera,   I always enjoy our visits and look forward to each one. So I appreciate you having me. I really enjoyed it.   Kiera Dent (30:16) course. And for all of you listening, thank you for listening and I'll catch you next time on The Dental A Team podcast.  

This week Nick and Austin from The Odd Advantage join us. We discuss if the stigma of "ska is dead" is finally dead. Nick and Austin talk about playing in different cities in Southern California. They also discuss their new kickstarter and all the work going into the new record. We listen to a demo version of a new song called We live in a society. We talk about memorizing lyrics and the writing process. All this and of course Ska News and our Ska Picks of the Week. The Odd Advantage:https://theoddadvantage.bandcamp.comThe Odd Advantage Kickstarter: https://www.kickstarter.com/projects/509729755/the-odd-advantage-On The Upbeat:ontheupbeatska.com Ska News 2025 Playlist: https://open.spotify.com/playlist/0CLg5HvXyFxP6hQxQi9Qfs?si=fmVCy1bORNGmlle3FA4-uw&pi=u-gkNw56cQRWeaSka Picks of The Week 2025:https://open.spotify.com/playlist/4bzFTOq9JPpWk1KSEg2nqE?si=Dh0zXfgHSeqfVKsYs0HRJw&pi=u-bIgOFTm_QpaGSka News Theme by Dang!thttps://dangitband.bandcamp.comMain Theme by Millington https://millingtonband.bandcamp.com

VDVV-1818_1053 -Nhung Nguoi Noi Toi Xuat Hon Len Thien Dang Nguoi O The Gian Khong Bao Gio Tin. Dallas.mp3PodCast ChannelsVô Vi Podcast - Vấn Đạo  Vô Vi Podcast - Băn GiảngVô Vi Podcast - Nhạc Thiền 

Sau nhiều năm “đắp chiếu”, nút giao Trì Bình nối khu kinh tế Dung Quất với cao tốc Đà Nẵng – Quảng Ngãi đã chính thức được tái khởi động. Đây là một trong những mắt xích quan trọng giúp phát huy hiệu quả tuyến cao tốc và thúc đẩy phát triển kinh tế vùng. Tuy nhiên, để đưa công trình “trở lại đường đua” trong năm 2025, các đơn vị thi công đang phải chạy đua với nhiều thách thức – đặc biệt là xử lý nền đất yếu và thời tiết bất thường. 

Mark and Jonny round out the semi-final round of duels from the first season of that beloved Saturday Morning Cartoon Classic "Yu-Gi-Oh". This week the boys watch and discuss "Best of Friends, Best of Duelists 1&2".

Interview with Lily Van Dang presenting her new song JUMPN - The Culture News

Our Spaces on X had to be rescheduled due to intense storms causing power outages, so it just wasn't in the cards tonight. So I jumped on and talked for a bit to ponder a few things for future discussions. Can't wait to get back to it next week, but until then be thinking about what you want to hear!Support the show

Good morning #CarterCrew! Thank you guys so much for joining us for another episodes of The Love & Victory Show with Val! We go live every Saturday from 8-10 AM CST. For today's show, hosts Val and Brother Carter will be having a #CandidConversation about entitlement. Joining us for this conversation is Quinten Bane and Justin B. Long.Download the LVWITHVAL App! Apple: https://apps.apple.com/us/app/lvwithval/id1665733251 Google: https://play.google.com/store/apps/details?id=com.loveandvictoryCheck out our social media: @LVWITHVAL https://lvwithval.com/Inquiries: info@lvwithval.comOur non-profit L&V Enterprise Resources Inc.: https://lverinc.com/LVWITHVAL OTR TICKETS: https://www.eventbrite.com/e/lvwithval-on-the-road-tickets-993669741947?aff=oddtdtcreator

Nhungly Dang and I had a great conversation around what four careers her parents expected her to do, and how she found her way into business and ultimately leading SDR and BDR teams to great success. Now she leads PipeVisionIQ as a consultant after more than 12 years building front line sales teams.  Nhungly has developed SDR workflows that are data-driven, technology-driven and adaptable to any organization's environment. ✅ She helps growth-stage and enterprise teams fix SDR chaos fast—without a massive budget or overhauling your tech stack. ✅ She designs repeatable, scalable, and measurable outbound workflows that drive consistent lead-to-opportunity conversion. ✅ She aligns sales and marketing efforts so your SDRs are focused, productive, and delivering real pipeline. Reach her on LinkedIn - https://www.linkedin.com/in/nhunglydang/ More about Women Sales Pros - we have a website, we are on LinkedIn, Facebook, and Instagram. We are part of Score More Sales.  Subscribe to our 2x a month news, and share the podcast with others! We'd love a 5 star rating and comments on iTunes if you are so moved! It really makes a difference.  subscribe: https://bit.ly/thewspnews Contribute: https://forms.gle/v9rRiPDUtgGqKaXA6 Past News Issues: bit.ly/past_news_issues https://womensalespros.com/podcast/ 

Hello 2Legs Family, We have a very special one-off non Macca episode to share with you. As most of you know Brian Wilson, of the Beach Boys recently passed away in June 2025 at the age of 82. His music has had a profound effect in the development of Andy's musical education along the way. For this episode, Andy paired up with Jonathan Petrus (Ranking The Beatles) and vinylbenjy (of Instagram fame) as all three of us have a shared love and passion of Brian and The Beach Boys music. We share our Beach Boys origins, some deep cut favourites, and lastly our Top 10 Fav's! In the comments, let us know your Top 10! Thanks to Jonathan and Benjy for hopping on for this special tribute. You both brought back many memories! We are a Paul channel, and we know his love of Pet Sounds we feel this was a worthy special episode to drop here because of the significance, love, joy and creativity that Brian Wilson brought us. Love and Mercy Andy - Links: https://rankingthebeatles.com/ https://www.instagram.com/vinylbenjy/  

In this episode of To the Point, Jackie Garlich, OD, FAAO, and Jessilin Quint, OD, MS, MBA, FAAO, get into a deep discussion with Vin T. Dang, OD, FAAO, on the recent Tear Film & Ocular Surface Society Dry Eye Workshop (TFOS DEWS) III Report. Dr. Dang shares his top takesaways from the report and offers his thoughts on a recently FDA-approved neuromodulating agent that treats dry eye by stimulating increased tear production.

Greetings All You Young Jazz Lovers! Another episode of the best damn Jazz music podcast on the internet has dropped, and this episode has drawn its inspiration from the world of film. A cinema masterpiece entitled "Sinners" hit theaters back in April of this year and ever since I can't seem to quench my desire for the blues (I also avoid the sunlight...strange). It's as if I have been seduced and placed under a spell! I wonder, is there such a thing as a Blues Vampire? If so...one must have bit me when I attended the Keb' Mo - Taj Mahal concert in June. Well, in any case... here it is y'all a bit of that voodoo that the Blues do so well. Enjoy!  Brian "Katzpheno" Phoenix featuring: Abbey Lincoln - The Music Is The Magic (2007) Mike Stern - Coupe De Ville (2009) Warren Wolf - Frankie & Johnny (2013) Herlin Riley - Wang, Dang, Doodle (2019) Charlie Hunter - We Don't Nobody Nobody Sent ( 2016) Jimmy Greene - No Words (2020) Randy Crawford & Joe Sample - Everyday I Have The Blues (2012) Charlie Haden, Paul Motain & Geri Allen - Blues In Motain (1987) Billy Cobham - Red Baron (1973) Allen Toussaint - Singin' The Blues (2009) Mack Avenue Superband - Test Of Time (2015) Joe Williams & Marlena Shaw - Is You Is Or Is You Ain't My Baby (1989)

Dang! The team has barely arrived and they are smack dab in the middle of another mystery… a train robbery, a run away stage coach, and 3 dead guys… sounds about par for the course! Game Master: Chad MatchetteRaúl Parera AKA Astor: Cesar AlacronSir Reginald Tippery AKA Falstaff: Morgan CollinsTerri Bliss AKA Dart: Natasha SukorokoffPat Roleman AKA Paramount: Robin “Coach” Sukorokoff“Legends” Co-Creators: Chad and Jack MatchettePodcast Editors: Matt Williamson and Emily MatchetteBUY “LEGENDS: THE SUPERHERO ROLE PLAYING GAME” NOW: https://books.friesenpress.com/store/title/119734000192338578Listen to “Legends: The Superhero Soundtrack” on Spotify: https://open.spotify.com/album/5mBxdCslTJ1u1aBHetIiem?si=lt4_4_RUSISSP4E1e_7HiwTweet about the show using #thelegendscast for the chance to have an NPC named after you!For our super fans who would like to help us make the show the best it can be, please consider becoming a patron here: https://www.patreon.com/thelegendscastCheck out our heroic merch here: https://thelegendscast.threadless.com/#Come hang out with us on Discord: https://discord.gg/jYpYhN3fTVFor more information head over to our website: https://www.matchplaygames.ca/Theme music by Omar Chakor (https://www.instagram.com/theorce/) through Fiverr (https://www.fiverr.com/ch6k0r)Underscoring by Sayer Roberts (https://www.instagram.com/roberts.the.sayer/) - check him out on Soundcloud: https://soundcloud.com/user-135673977 and SideBiz Studio!: https://bit.ly/3kdunQJCLICK HERE TO BUY “LEGENDS: THE SUPERHERO ROLE PLAYING GAME”!Support the show

It's iFanboy 20/25 — 20 years of podcasting and 25 years of iFanboy! It was an incredibly weird week of comics with not a lot to talk about, but Josh Flanagan and the returning Conor Kilpatrick do their best. Plus, how is reading comics like playing with toys when you were a kid? Note: Time codes are estimates due to dynamic ad insertion by the distributor. Running Time: 01:03:30 Pick of the Week:00:01:48 – Captain America #772 (1) Comics:00:15:12 – Godzilla vs. Thor #100:23:04 – X-Men #319 (19)00:27:55 – JSA #900:30:19 – Absolute Green Lantern #400:32:17 – Daredevil #685 (23)00:37:07 – G.I. Joe: A Real American Hero #318 Patron Pick:00:41:41 – Captain America #772 (1) Patron Thanks:00:43:11 – Plato's Cave Listener Mail:00:45:26 – Zak H. from Milwaukee, Wisconsin wonders if the iFanboys read too many comics.00:49:57 – Geoff C. wants to know if every issue of a miniseries or of a story arc have been Pick of the Week.00:54:25 – Dan G. from Pittsburgh, Pennsylvania is curious about writer submissions to iFanboy in the old days. Brought To You By: Shopify – This episode is sponsored by Shopify. Sign up for a one-dollar-per-month trial period and take your business to the next level. iFanboy Patrons – Become one today for as little as $3/month! Or join for a full year and get a discount! You can also make a one time donation of any amount! iFanboy T-Shirts and Merch – Show your iFanboy pride with a t-shirt or other great merchandise on Threadless! We've got TWENTY TWO designs! Music:“Sister Golden Hair”America   Watch The iFanboy After Show for Pick of the Week #984! Listen to Josh discuss Fargo on Movie of the Year: 1996. Watch Ron talk about pinball technology on the Daily Tech News Show. Listen to Conor, Josh, and Ron discuss The Crow (1994) on Cradle to the Grave. Watch Josh and Conor talk about how to start a podcast on OpenWater. Listen to Conor discuss Swingers on Movie of the Year: 1996. Listen to Conor discuss Ghostbusters on Movie of the Year: 1984. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week Mark and Jonny are depressed and bored to bring you more Yugioh! The boys are down this week as they watch and discuss episodes 29 and 30 Duel Identity 1&2 and 31 and 32 "Keith's Machination pt 1&2". 

Jonny and Mark are back to discuss another duel arc of the Saturday morning classic "Yu-Gi-Oh" to discuss episodes :25 Shining Friendship, 26-27 Champion vs. Creator 1 and 2 and 28 The Night Before.     

This week Cody Okonski from Millington joins us. Matt and Cody discuss a concert that reminds them of why they love ska. Cody talks about picking songs for last year's Brass Emo Vol. 2 and he tells us all about the band's upcoming new EP, Better Safe and Sorry, out July 18th. We listen to Millington's song Summer Disease. Cody also talks about keeping music fresh but still hold onto that Millington sound. And of course we have Ska News and our Ska Picks of the Week. Millington:https://millingtonband.bandcamp.com/musicOn The Upbeat: ontheupbeatska.comSka News……-Spring Heeled JackOn June 17th Spring Heeled Jack released a new track called Jenni. -ChudsonOn June 19th Chudson released a new song called Headphone Splitter.-SwigfootOn June 20th Swigfoot released a new song called Moments Ska News 2025 Playlist: https://open.spotify.com/playlist/0CLg5HvXyFxP6hQxQi9Qfs?si=fmVCy1bORNGmlle3FA4-uw&pi=u-gkNw56cQRWeaSka Picks of The Week 2025:https://open.spotify.com/playlist/4bzFTOq9JPpWk1KSEg2nqE?si=Dh0zXfgHSeqfVKsYs0HRJw&pi=u-bIgOFTm_QpaGSka News Theme by Dang!thttps://dangitband.bandcamp.comMain Theme by Millington https://millingtonband.bandcamp.com

Jacob and Drew Review another adaptation of Treasure Island, Disney's Treasure Planet! Plus the Batman The Animated Series "Birds of a Feather" and " What Is Reality?"    

This week the boys sit down with Ska Royalty, Long Beach's Own, Jessie Wilder and talk about: I dont know, Rolling your R's, Bartending, Beer, Seven and sevens, Blue Ox, Vocals, Guitar, Keys, Bass, California Ska Scene, Touring, Owning a venue, playing shows, and much much more.

VDVV-1796_1020 -Bay Gio Anh Dang Bi Hat Hui _Anh Nen Niem Phat Nhieu Di.mp3PodCast ChannelsVô Vi Podcast - Vấn Đạo  Vô Vi Podcast - Băn GiảngVô Vi Podcast - Nhạc Thiền 

In this episode I am joined by Johan Hausen, Taoist teacher, translator, Chinese medicine practitioner, and founder of Purple Cloud Press. Johan shares his life story from years of competitive Tae Kwon Do, through his travels and travails in China in search of a master, and to his eventual training and discipleship in the Wu Dang mountains. Johan reflects on his years learning Classical and spoken Chinese, considers the challenges of translating ancient literature for modern readers, and reveals the unique metaphors and analogies used in textual descriptions of Internal Alchemy. Johan also describes the Taoist quest for immortality, explains his research into the dantien and the mineralogy of cinnabar, and recounts stories of his own encounters with spiritually advanced beings. … Also available on Youtube, iTunes, & Spotify – search ‘Guru Viking Podcast'. ... Topics Include: 00:00 - Intro 00:57 - Admiration for Mattias Daly 02:56 - Learning Chinese to better learn Taoism 04:53 - How Johan learned Classical vs Spoken Chinese 08:11 - Language is about communication 08:47 - Should we consult living masters about textual translation problems? 10:24 - Metaphors and analogies used in Internal Alchemy 12:53 - Why are there different ideas about the dantian? 14:12 - Is the dantian constructed or inherent? 16:12 - Elixir fields? 17:37 - Johan's research on the mineralogy of cinnabar using Chinese texts 18:04 - The old alchemists' surprisingly good understanding of organic chemistry 20:56 - Johan's childhood and training in Tae Kwon Do 22:47 - Johan's competitive Tae Kwon Do career of over 100 fights 25:18 - Injury and travel to China for healing 26:24 - Travelling to China at 20 years old to train Shaolin kung fu 28:48 0 Training methods of Shaolin kung fu 30:35 - Demystifying the myths of Shaolin training 33:08 - Recovery routine 34:26 - Illness and leaving China 36:15 - Returning to Germany and feelings of failure 37:47 - Leaving a film course in London to train in the Wu Dang mountains 40:32 - Meeting Li Shifu at the Five Immortals Temple 41:54 - Curriculum at the Five Immortals Temple 43:08 - Studying acupuncture and dedication to learning 44:19 - Years of study under Li Shifu and joining the lineage 47:26 - Struggles with being treated as a foreigner in China 50:50 - Growing resentment and leaving China 55:26 - Johan's Dragon Gate Lineage 56:28 - The quest for immortality 58:53 - Details about Taoist Immortals 01:00:34 - Difficulty of becoming an Immortal 01:02:10 - Consolation prize if you fail to achieve immortality 01:03:38 - Ethical rules of the Dragon Gate Lineage 01:04:59 - A typical daily practice routine 01:06:47 - Singing the scriptures to communicate to spirits 01:09:26 - Taoist patron spirit of Wudang 01:14:45 - The remarkable qualities of Li Shifu 01:15:52 - Praise is bad in traditional Chinese teaching 01:17:05 - Is Li Shifu an Immortal? 01:18:02 - Johan's reverence for his teacher 01:19:29 - Explaining culture clashes to Lif Shifu 01:20:33 - Is charisma and spiritual power inherent or cultivated? 01:24:45 - Li Shifu does not have attained disciples 01:26:05 - Is it really possible to achieve success in Taoism, or is it mostly just natural talent? 01:33:11 - Using gifted practitioners as inspiration 01:34:18 - Purple Cloud Press 01:35:56 - Johan's goal to create community and preserve texts 01:37:09 - Search for location and funds
 To find out more about Johan Hausen, visit: - https://purplecloudinstitute.com/about-us/who-we-are-2/ … For more interviews, videos, and more visit. - www.guruviking.com … Music ‘Deva Dasi' by Steve James

A new Radio Ronin adventure awaits!!!!Chunga and Chandler are so excited!!!!  They're beyond excited!!!  FINALLY, that cool war show is back on the TV!!!! oooooh Iran is gonna get it!!!! DANG!!!Chris and Bren's stage production of “Annie” has opened!!  Many of you have gone to see it already! How was it!? Did you take your kids!?Gregg's car has been vandalized AGAIN!!!!  What the!?? WHY!?!  He also went to Westfest!!  Chunga wonders why they still do Westfest considering there's a shooting every damn year!!!  Glad you made it out alive Gregg!!Chunga and Chandler decided to brave the SoCal protests and go to Disneyland for Fathers Day weekend!!! It was amazing, and Disneyland was empty!!!!CHUNGA POLL: What is your favorite French fry condiment!?  Post your answers below!!!PLUS, Gregg has another legendary laser disk movie shout out!!!!  LISTEN NOW!!!It's on www.radioronin.com and everywhere you get your podcasts!!!

Our brains aren't always the most reliable narrators. Especially when you're knee-deep in IEP paperwork, appointments, and trying to keep a household running with whatever scraps of energy you have left.And still, it loves to whisper things like:“You're not doing enough.”“You should have handled that better.”“Other moms would be doing this differently.”But here's the truth: Those thoughts are NOT facts.In this episode, I'm walking you through 5 real, grounded, very-not-inspirational-poster signs that you're actually a dang good mom. Not in a fluffy, “believe in yourself!” kind of way. In a “here's actual evidence from your life that you're killing it in ways your brain keeps overlooking” kind of way.If you've been feeling like you're constantly dropping balls or wondering if you're getting any of this right, this one's for you.

A new Radio Ronin adventure awaits!!!!Chunga and Chandler are so excited!!!!  They're beyond excited!!!  FINALLY, that cool war show is back on the TV!!!! oooooh Iran is gonna get it!!!! DANG!!!Chris and Bren's stage production of “Annie” has opened!!  Many of you have gone to see it already! How was it!? Did you take your kids!?Gregg's car has been vandalized AGAIN!!!!  What the!?? WHY!?!  He also went to Westfest!!  Chunga wonders why they still do Westfest considering there's a shooting every damn year!!!  Glad you made it out alive Gregg!!Chunga and Chandler decided to brave the SoCal protests and go to Disneyland for Fathers Day weekend!!! It was amazing, and Disneyland was empty!!!!CHUNGA POLL: What is your favorite French fry condiment!?  Post your answers below!!!PLUS, Gregg has another legendary laser disk movie shout out!!!!  LISTEN NOW!!!It's on www.radioronin.com and everywhere you get your podcasts!!!

Tổng thống Donald Trump có thể nắm giữ chìa khóa cho sự đồng thuận hoặc chia rẽ sâu sắc giữa các quốc gia tham dự. Tuy nhiên, Tổng thống Mỹ Donald Trump đã rời hội nghị G7 sớm hơn dự kiến do căng thẳng leo thang ở Trung Đông, đặc biệt là giữa Israel và Iran. Việc ông Trump rời hội nghị cũng ảnh hưởng đến các cuộc gặp song phương, bao gồm cuộc họp dự kiến với Thủ tướng Úc Anthony Albanese để thảo luận về hiệp định AUKUS và thuế quan đối với hàng hóa Úc.

Segment Teaser – In this powerful episode of Go Gaddis Real Estate Radio, we're diving into two deeply personal and timely real estate challenges: soaring rental prices pushing families to the brink, and the emotional toll of major life transitions like divorce, loss, or separation—and the impact those events have on housing decisions.

« J'avais jamais fait le lien de la musique avec mes origines, et j'ai commencé à digger des sons de musique de mes parents. » À l'occasion de sa Release Party à La Maroquinerie le 12 juin 2024, Thérèse et Banh Mi Media se sont associés pour organiser une table ronde inédite : 9 artistes asio-descendant·es réuni·es pour répondre à une question essentielle

Yes, Baguettes, it's the long-awaited NOBBSISODE. You know him, you love(?) him, it's Albert Nobbs. We're not using the official film synopsis for this one because it's problematic so here's our summary: Albert Nobbs is a trans man who works at a swanky hotel in late 19th century Ireland. He meets another trans man who is out there thriving with a wife he loves and decides to acquire a wife of his own. Things go badly. Pop corner kernels this week include the Tony Awards, Devil's Plan season 2, The Count of Monte Cristo, ~gay cinema~ including Princess Cyd, Coyote Ugly and Water Lilies, Sabrina Carpenter's Manchild and its music video, the new cast of Traitors US, The Secret Lives of Mormon Wives and Overcompensating. Dang we watch a lot of stuff.

Lisa Dent welcomes Chef Thai Dang, owner of HaiSous Vietnamese, for this edition of Foodie Friday. Listen in while Chef Dang talks about what makes his restaurant a ‘must go' place in Chicago and talks about his 2025 James Beard Award nomination for Best Chef: Great Lakes.

This week Craig Yarnold from Buck-O-Nine joins us. We discuss the band's early years and what it was like in the 90's skating scene. Craig gives us the  breakdown of the new record and we listen to their song I'm Alive. We also discuss life on the road, playing the new songs live and where to get the best burritos in San Diego. All this and Ska News and Ska Picks of the Week. Buck-O-Nine:buckonine.comOn The Upbeat:ontheupbeatska.comSka News…..Save Ferris On  June 10th, Save Ferris released a new song called Ooh Ooh Rudi.https://open.spotify.com/album/5VE6lJlOkro12H57DssmXm?si=a9VdpEluSvmgbULTX6JZ-g-The liquidatorsOn June 6th The liquidators, released a new album called Intensified. https://open.spotify.com/album/4L79NBn8XpRm5Swl7ySQZQ?si=G4a7_VOcTu6LL_maiCeuXw-TJ and The CampersOn June 10th TJ and The Campers released a 3 song ep called Froot Loops. We're going to listen to a clip of their song the other side.https://open.spotify.com/album/6dtol3ljTItF7jvguTrRcQ?si=Kh0KjcrQR9aGn8lmMy3VPASka News 2025 Playlist: https://open.spotify.com/playlist/0CLg5HvXyFxP6hQxQi9Qfs?si=fmVCy1bORNGmlle3FA4-uw&pi=u-gkNw56cQRWeaSka Picks of The Week 2025:https://open.spotify.com/playlist/4bzFTOq9JPpWk1KSEg2nqE?si=Dh0zXfgHSeqfVKsYs0HRJw&pi=u-bIgOFTm_QpaGSka News Theme by Dang!thttps://dangitband.bandcamp.comMain Theme by Millington https://millingtonband.bandcamp.com

Dang y'all! Ever got boomer trapped! What does that mean? Well.... you'll have to listen to find out (it's embarrassing). We're talking sex when you're ready, Brad's stardom and dunkin' on haters! What's one thing you're looking forward to this week? Learn more about your ad choices. Visit megaphone.fm/adchoices

Dang, some people traveled hella far! We also bring back the segment Roles Revered! TUNE IN FOR THIS HILARIOUS EPISODE!

Griffin and Mark come together one final time to discuss the outcome of their Dang ol Space Western project and see what the cast of Firefly is up to these days and the possibilities of there being more sky in the future. 

'Mối tình đầu mong manh dễ vỡ Nên mối tình đầu dang dở khó quên'

Send us a textEmail Lennie at lennielawson2020@gmail.com

This week we discuss the rumored Fifth Harmony reunion, Sydney Sweeney's bathwater soap, Jessie J revealing the original lyrics of Party in the USA, how eating popcorn is Tom Cruise's real Impossible Mission, plus Sam Star & Britney Spears witnessing the Mile High Kids Bop Live. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Your Daily Yordan Astros Update About these Dang Hands, Houston.. 'Stros Waiting-Game Continues for the BIG Man- full 617 Sat, 31 May 2025 00:50:25 +0000 eXvjwLCro6uaeBrFfv0UpJcrHMbsD5VP mlb,houston astros,astros,mlb news,al west,yordan alvarez,altuve,astros news,espada,framber,daikin park,yordan,sports The Drive with Stoerner and Hughley mlb,houston astros,astros,mlb news,al west,yordan alvarez,altuve,astros news,espada,framber,daikin park,yordan,sports Your Daily Yordan Astros Update About these Dang Hands, Houston.. 'Stros Waiting-Game Continues for the BIG Man- 2-6PM M-F © 2025 Audacy, Inc. Sports False

Jonny returns to the Dang Ol Podcast to help Mark watch more of that beloved Saturday morning cartoon  "Yu-Gi-Oh" this week the boys watch and discuss "Face Off 1,2,3).

Dang bro.....May is already over. See omnystudio.com/listener for privacy information.

Today we're saying thanks to all our listeners and saying goodbye. To live shows, that is. Plenty more content coming starting next week, but we're switching up formats to make everyone's lives easier! It's been exhausting doing as many as five live shows a week for five years. Dang, that's a lot. :-)

Today we're saying thanks to all our listeners and saying goodbye. To live shows, that is. Plenty more content coming starting next week, but we're switching up formats to make everyone's lives easier! It's been exhausting doing as many as five live shows a week for five years. Dang, that's a lot. :-)

The Stars are down 3-1. Can they recover? Thunder are in the Finals and Pacers are in control

In this episode, we kick off Asian American and PacificIslander Heritage Month with a Health Promotion Practice Paper of the Year. Phuc To, Julia Huynh, Dr. Judy Tzu-Chun Wu, Dr. Thuy Vo Dang, Cevadne Lee, and Dr. Sora Tanjasiri discuss where their Photovoice project has taken them. They previously explored their paper in Season 2, Episode 12 before receiving this recognition, and this time they reflect back on wonderful stories of mentorship, growth, permanence, and hope. They remind us of the importance of interdisciplinary work and archiving stories. Check out other ⁠Sarah Mazelis Paper of the Year Award Winners⁠ and ⁠HPP's special collection⁠ of recently published papers, poetry, and podcast episodes ddressing health promotion that centers Asian, Asian American, and Pacific Islander communities and authors. This episode references the article titled "Through Our Eyes, Hear Our Stories: A Virtual Photovoice Project to Document and Archive Asian American and Pacific Islander Community Experiences During COVID-19" by Phuc Duy Nhu To, MA,Julia Huynh, MA, Judy Tzu-Chun Wu, PhD, Thuy Vo Dang, PhD, MA, Cevadne Lee, MPH, and Sora Park Tanjasiri, DrPh, MPH.

This week we got some Magic: The Gathering cards to reveal, we chat about TMNT: Tactical Takedown, Grandma, No!, Doom 2, typing in Warhammer: Boltgun: Words of Vengeance, The Mosquito Gang, and Grubb shares his love for driving and mud in Roadcraft. We also chat about how some Nintendo Switch 2 consoles may be out in the wild, a possible State of Play popping up in June, Alex Garland getting tapped as the director for the Elden Ring movie, and more news this week! Dang gurl!Support Giant Bomb by heading to: giantbomb.com/join

This week Ben Basile joins Anthony for a one-on-one interview. They discuss the importance of affordable bass gear,  the musicians featured on “Benergy,” hot drops in Fortnite, and what Ben's jazz friends think of him playing in Big D and the Kids Table. All this and Ska News and Ska Picks of the Week. Ben Basile: https://www.benbasile.com On The Upbeat:ontheupbeatska.com Ska News…..-Brad pittance and the piratesOn May 10th Brad pittance and the pirates released them new song Nuclear lady. https://open.spotify.com/album/5bTfIl0IGisGoB1wf0zpKD?si=9SnOQ0IaRZC2UKr4c6Actg -Chilled Monkey BrainsOn May 16th Chilled Monkey Brains released their cover of Lagwagon's May 16th.https://open.spotify.com/album/6eKXNU981vMduk0M3mqZs4?si=4t3ZFdK4RI-rQbZbaZ59Qg-Buck-O-NineOn May 16th Buck-O-Nine released their new album, Cut Out The Noise. https://open.spotify.com/album/0OO6aQfyUxEoAgOyMAAr07?si=4I3uKcTVSsGm6RbL78aprgSka News 2025 Playlist: https://open.spotify.com/playlist/0CLg5HvXyFxP6hQxQi9Qfs?si=fmVCy1bORNGmlle3FA4-uw&pi=u-gkNw56cQRWeaSka Picks of The Week 2025:https://open.spotify.com/playlist/4bzFTOq9JPpWk1KSEg2nqE?si=Dh0zXfgHSeqfVKsYs0HRJw&pi=u-bIgOFTm_QpaGSka News Theme by Dang!thttps://millingtonband.bandcamp.com/musicMain Theme by Millington: ⁠

Wanna know what makes people stop scrolling and actually pay attention to your business?This episode is like sitting front row in a marketing masterclass—with real examples that made me go, “Dang. THAT is good.”I share 3 real-life examples of irresistible marketing—from a PayPal email that stopped me in my tracks, to a blog that made me want to hire the writer immediately, to a customer service email that turned into a sales lesson.And the best part? You can use all of them today in your own business.Here's what you'll hear:A genius way to turn an old-school flyer tactic into digital gold

"We don't have to wait and wait and wait for the fear to go away. It would certainly be more comfortable to be fearless when it is time to move forward. But, true to life as a believer, choosing to do "it" afraid asks more of us. Jesus calls us to strength and courage despite fear — and He promises His presence in the process, because He knows this is a valuable avenue for experiencing joy and growth . . . in and through Him."Leave a comment for Crista: https://incourage.me/?p=252120--It's graduation season! Shower your grad with love and reminders of the plans God has for their future. Find inspiring books, student Bibles, cards, and gifts at DaySpring.com, and celebrate your graduate's special milestone! The (in)courage podcast is brought to you by DaySpring. For over 50 years, DaySpring has created quality cards, books, and gifts that help you live your faith. Find out more at DaySpring.com.Connect with (in)courage: Facebook & Instagram for daily encouragement, videos, and more! Website for the (in)courage library, to meet our contributors, and to access the archives. Email us at incourage@dayspring.com. Leave a podcast review on Apple!

The Father of Reaganomics, David Stockman, joins us to explore the complex world of international trade and its impact on investors.  Key insights include: Challenging conventional wisdom about trade policies Understanding economic forces that drive investment opportunities Gaining expert perspective on global economic trends Stockman provides a candid analysis of current trade strategies, revealing: The true drivers of economic competitiveness Potential pitfalls of protectionist approaches Critical insights for strategic investors The episode cuts through political noise to offer clear, actionable economic intelligence for informed decision-making. Smart investors look beyond headlines to understand the deeper economic forces shaping their financial future. Resources: Check out David Stockman's Contra Corner Newsletter Show Notes: GetRichEducation.com/553 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, I sit down with a long time White House occupant who was the official economic advisor to an ex president. We get the real deal on tariffs and what they mean to you. Trump gets called out and the ominous sign about what's coming six months from now, today on, Get Rich Education.   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being the flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:14   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:30   Welcome to GRE from Brookline, Massachusetts to Brooklyn, New York and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education, just another shaved mammal behind this microphone here. I recently spent some time with the father of Reaganomics, David Stockman, in New York City, and sometimes an issue so critical surfaces that real estate investors need to step back and understand a broader force in the economy. Three weeks ago, here, I told you how the second and third way, real estate pays you. Cash flow and ROA are sourced by your tenants employment and the future of your tenants employment is influenced by tariffs and other policies of this presidential administration. This is going to affect rates of inflation and a whole lot of things. Now, an organization called the American Dialect Society, they actually name their word of the year, and this year, it is shaping up to be that word, tariff. In fact, Trump has described that word as the most beautiful word in the dictionary. And I think we all know by now that a tariff is an import tax that gets passed along to consumers when it comes to materials used in real estate construction that's going to affect future real estate prices. Well, several key ones so far were exempted from recent reciprocal tariffs, including steel, aluminum, lumber and copper exempted. Not everything was exempted, but those items and some others were but who knows if even they are going to stay that way. And now, when it comes to this topic. I think a lot of people want to make immediate overreactions in even posture like they're an expert in become an armchair economist, and I guess we all do a little of that, me included. But rather than being first on this and overreacting, let's let the policy which Trump called Liberation Day last month when he announced all these new tariffs. Let's let policy simmer a little and then bring in an expert that really knows what this means to the economy and real estate. So that's why I wanted to set up this discussion for your benefit with the father of Reaganomics and I today. In fact, what did Reagan himself say about tarrifs back in 1987 this is part of a clip that's gained new life this year. It's about a minute and a half.    Speaker 1  4:13   Throughout the world, there's a growing realization that the way to prosperity for all nations is rejecting protectionist legislation and promoting fair and free competition. Now there are sound historical reasons for this. For those of us who lived through the Great Depression, the memory of the suffering it caused is deep and searing, and today, many economic analysts and historians argue that high tariff legislation passed back in that period called the Smoot Hawley tariff greatly deepened the depression and prevented economic recovery. You see at first when someone says, Let's impose tariffs on foreign imports, it looks like they're doing the patriotic thing by protecting American products and jobs, and sometimes for a short while at work. Price, but only for a short time. What eventually occurs is first, home grown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets. And then, while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition, so soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying. Then the worst happens, markets shrink and collapse, businesses and industry shut down, and millions of people lose their jobs.    Keith Weinhold  5:50   Now, from what I can tell you as a listener in the GRE audience, maybe you're split on what you think about tariffs. In fact, we ran an Instagram poll. It asks, generally speaking, tariffs are good or bad? Simply that 40% of you said good, 60% bad. Over on LinkedIn, it was different. 52% said they're good, 48% bad. So it's nearly half and half. And rather than me taking a side here, I like to bring up points that support both sides, and then let our distinguished guests talk, since he's the expert. For example, if a foreign nation wants to access the world's largest economy, the United States, does it make sense for them to pay a fee? I mean, it works that way in a lot of places, when you want to list a product on eBay or Amazon, you pay them a fee. You pay a percentage of the list price in order to get access to a ready marketplace of qualified buyers. All right. Well, that's one side, but then the other side is, come on, let's look at history. Where have tariffs ever worked like Where have they ever been a resounding, long term success? Do they have any history of a sustained, good track record? I generally like free trade. Then let's understand there's something even worse than a steep tariff. There are quotas which are imposed, import limits, trade limits, and then there are even all out import bans. What do terrorists mean to the economy that you are going to live in and that your tenants live in? It's the father of Reaganomics, and I on that straight ahead on Get Rich Education. I'm your host. Keith Weinhold.   you know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back, no weird lock ups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text, family to 66866, to learn about freedom, family investments, liquidity fund, again. Text family to 6686   Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group and MLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at Ridge lendinggroup.com, that's ridgelendinggroup.com.    Hey   Robert Helms  9:28   Hey everybody. It's Robert Helms of the real estate guys radio program. So glad you found Keith Weinhold in get rich education. Don't quit your Daydream.   Keith Weinhold  9:48   when it comes to White House economic policy like tariffs, taxes and inflation, don't you wish you could talk to someone that's often been inside the White House. Today, we are even better. He was the official advisor to an ex president on economic affairs, a Wall Street and Washington insider and Harvard grad. Today's guest is also a former two time congressman from Michigan. He's a prolific author, and he is none other than the man known as the father of Reaganomics. He was indeed President Ronald Reagan's budget advisor. He was first with us last year, but so much has happened since. So welcome back to the show. David Stockman,    David Stockman  10:26   very good to be with you, and you're certainly right about that. I think we're really in uncharted waters. Who could have predicted where we are today, and therefore it's very hard to know where we're heading, but you have to try to peer through the fog and all the uncertainty and the noise and the, you know, day to day ups and downs that's coming from this White House in a way that we've never seen before. And I started on Capitol Hill in 1970 so I've been watching this, you know, for more than a half century, actually, quite a while. And man, it's important to go through all this, but it's sort of uncharted waters.    Keith Weinhold  11:04   Sure, it's sort of like you wake up every day and all you do know is that you don't know. And David, when it comes to tariffs, I want to give you my idea, and then I want to ask you about what the tariff objective even is. Now, to be sure, no one is asking me how to advise the President. I'm an international real estate investor, but I do most of my business in the US, and I sure don't have international trade policy experience. It seems better to me, David, that rather than shocking the world with new tariffs that kick in right away, it would have been better to announce that tariffs begin in, say, 90 days, and then give nations space to negotiate before they kick in. That's my prevailing idea. My question to you is, what's the real objective here? What are terrorists proposed to do? Raise revenue, onshore companies merely a negotiation tactic? Is the objective? Something else?    David Stockman  12:00   Well, it might be all of the above, but I think it's important to start with a predicate, and that is that the problem is not high tariffs abroad or cheating by foreign competitors or exporters. There is a huge problem of a chronic trade deficit that is not benign, that does reflect a tremendous offshoring of our industrial economy, the loss of good, high paying industrial and manufacturing jobs. So the issue is an important one to address, but I have to say, very clearly, Trump is 100% wrong when he attempts to address it with tariffs, because foreign tariffs aren't the problem. Let me just give a couple of pieces of data on this, and I've been doing a lot of research on this. If you take the top 51 exporters to the United States, our top 51 trade partners, and this is Mexico and Canada and the entire EU and it's all the big far eastern China, Japan, South Korea, India, you know, all the rest of them. If you look at the and that's 90% of our trade, we have 2.9 trillion of imports coming in from all of those countries, and the tariff that we Levy, this is the United States, on those imports, is not high. It's higher than it was in the past, mainly because of what Trump did in the first term, but it's 3.9% now compared to bad times historically, decades and decades ago. That's relatively low. But here's the key point, if we look at the same 51 trading partners in terms of the tariffs they levy on our exports to China and to the EU and to Canada and Mexico and South Korea and all the rest of them. The tariff average, weighted average that they levy is 2.1% so let me restate that the average US tariff is about twice as high 4% around things as what our partners imposed 2% now the larger point is whether it's 4% or 2% doesn't make a better difference. That's not a problem when it comes to 33 trillion of world trade of which we are, you know, the United States engages in about five and a half trillion of that on a two way basis, import, export, in the nexus of a massive global trading system. So he's off base. He's wrong. The target is not high tariffs or unfair foreign trade. Now there are some people who say, Well, you're looking at monetary tariffs. So in other words, the import duty they levy on, you know, exports to South Korea or India or someplace like that, right? And that, the real issue, supposedly, is non tariff barriers. For instance, you know, some governments require you that all procurement by government agencies has to be sourced from a domestic supplier, which automatically shuts out us suppliers who might want that business. Well, the problem is we're the biggest violator of the non tariff barrier in that area. In other words, we have something like $900 billion worth of state, federal and local procurement that's under Buy America policies, which means EU, Mexico, Canada, China, none of them can compete. Now I mention that only as one example, because it's the kind of classic non tariff barrier, as opposed to import duty that some people point to, or they point to the fact that while foreign countries allegedly manipulate their currency, but you know the answer to that is that number one, overwhelming, no doubt about it, largest currency manipulator in the world, is the Federal Reserve. Okay, so it's kind of hard to say that there's a unfair trade problem in the world because of currency manipulation. And then there is, you know, an argument. Well, foreign governments subsidize their exporters. They subsidize their industrial companies, and therefore they can sell things cheaper. And therefore that's another example of unfair trade, but the biggest subsidizer of tech industry, and of a lot of other basic industry in the United States is is the Defense Department. You know, we have a trillion dollar defense budget, and we put massive amounts of dollars in, not only to buying, you know, hardware and weapons and so forth, but huge amounts of R and D that go into developing cutting edge technologies that have a lot of civilian applications that, in fact, we see all over the world. That's why we're doing this broadcast right now. The point is that problem is not high tariffs because they're only low tariffs. The problem is not unfair trade, because there's all kinds of minor little interferences with pure free markets, but both, everybody violates those one way or another due to domestic politics. But it's not a big deal. It doesn't make that big a difference. So therefore, why do we have a trillion dollar trade deficit in the most recent year, and a trade deficit of that magnitude that's been pretty continuous since the 1970s the answer is three or four blocks from the White House, not 10,000 miles away in Beijing or Tokyo. The answer is the Federal Reserve has in the ELLs building there in DC, not far from the White House. Yes, yes, right there, okay, the Eccles building the Fed has a huge, persistent pro inflation bias, sure. And as a result of that, it is pushed the wage levels and the price levels and the cost levels of the US economy steadily higher, and therefore we've become less and less competitive with practically everybody, but certainly a lower wage countries nearby, like Mexico or China, far away. And you know, there's, it's not that simple of just labor costs and wages, because, after all, if you source from China, you've got to ship things 10,000 miles. You've got supply chain management issues, you've got quality control issues, you've got timeliness issues. You have inventory carry costs, because there's a huge pipeline, and of course, you have the actual freight cost of bringing all those containers over. But nevertheless, when you factor all that in, our trade problem is our costs are too high, and that is a function of the pro inflation policies of the Fed. Give one example. Go back just to the period when the economy was beginning to recover, right after the great recession. And you know the crisis of 208209 and I started 210 unit labor costs in manufacturing in the United States. Just from 210 that's only 15 years, are up 55% that's unit labor costs. In other words, if you take wage costs and you subtract productivity growth in that 15 year period, the net wage costs less productivity growth, which is what economists call unit labor costs, are up 53% and as a result of that, we started, you know, maybe with a $15 wage difference between the United States and.China back in the late 1990s that wage gap today is $30 in other words, the fully loaded way at cost of average wages in the United States. And I'm talking about not just the pay envelope, but also the payroll taxes, the you know, charge for pension expense, health care and so forth. The whole fully loaded cost to an employer is about $40 an hour, and it's about $10 in the United States and it's about $10 an hour in China. Now that's the reason why we have a huge trade deficit with China, because of the massive cost difference, and it's not because anybody's cheating. Is because the Fed, in its wisdom, decided, well, you know, everybody will be okay. We're going to inflate the economy at 2% a year. That's their target. It's not like, well, we're trying to get low inflation or zero inflation, but we're not quite making it. No, they're proactive. Answer is, we've got to have 2% or the economy is not going to work. Well, well, 2% sounds well, that's a trivial little number. However, when you do it year after year, decade after decade, for a long period of time, and the other side is not inflating at the same rate, then in dollar terms, you have a problem, and that's where we are today. So this is important to understand, because it means the heart of the whole Trump economic policy, which is trying to bring manufacturing home, trying to bring industry back to the United States, a laudable objective is based on a false diagnosis of why this happened, and it is unleashed ball in the china shop, disruption of global economic flows in relationships that are going to cause unmitigated problems, even disaster in the US economy. Because it's too subtle, when you think about it, the world trade system just goods. Now, we've not even talking about services yet, or capital flows or financing on a short term basis. The World Trade in goods, merchandise, goods only is now 33 trillion. That is a hell of a lot of activity of parts and pieces and raw materials and finished products flowing in. You know, impossible to imagine directions back and forth between dozens and dozens of major economies and hundreds overall. And when you start, you step into that, not with a tiny little increase in the tariff. To give somebody a message. You know, if our tariffs are averaging 4% that's what I gave you a little while ago. And you raise tariffs to 20% maybe that's a message. But Trump didn't do that. He raised the tariff on China to 145% in other words, let's just take one example of a practical product, almost all the small appliances that you can find in Target or even a higher end retail stores United States or on Amazon are sourced in China because of this cost differential. I've been talking about this huge wage differential. So over the last 20, 25, years, little it went there now 80% of all small appliances are now sourced in China, and one, you know, good example would be a microwave oven, and a standard one with not a lot of fancy bells and whistles, is $100 now, when you put 145% tariff on the $100 landed microwave oven is now $245 someone's going to say, Gee, are we going to be able to sell microwaves at $245 they're not certain. I'm talking about a US importer. I'm talking about someone who sells microwaves on Amazon, for instance, or the buyers at Walmart or Target, or the rest of them, they're going to say, wait a minute, maybe we ought to hold off our orders until we see how this is going to shake out. And Trump says he's going to be negotiating, which is another whole issue that we'll get into. It's a lot of baloney. He has no idea what he's doing. Let's just face the facts about this. So if orders are suddenly cut back, and the flow that goes on day in and day out across the Pacific into the big ports in Long Beach in Los Angeles is suddenly disrupted, not in a small way, but in a big way, by 20, 30, 40, 50% six or seven months down the road, we're going to have empty shelves. We're going to have empty warehouses. We're going to have sellers who suddenly realize there's such a scarcity of products that have been hit by this blunderbuss of tariffs that we can double our price and get away with it.   Keith Weinhold  25:00   Okay, sure. I mean, ports are designed. Ports are set up for stadium flows, not for surges, and then walls and activity. That just really doesn't work.   David Stockman  25:08   And let me just get in that, because you're on a good point. In other words, there is a complicated supply line, supply chain, where, you know, stuff is handed off, one hand to another, ports in China, shipping companies, ports here, rail distribution systems, regional warehouses of you know, people like Walmart and so forth, that whole supply chain is going to be hit with a shock. Everything is going to be uncertain in terms of the formulas that everybody uses right now, you know that you sell 100 units a week, so you got to replace them at the sales rate, and you put your orders in, and know that it takes six weeks to get here, and all this other stuff, all of the common knowledge that's in the supply chain that makes it work, and the handoffs smooth and efficient From one player in the supply chain to the next, it's all going to be disrupted. But the one thing we're going to have is we're going to have shortages, we're going to have empty shelves, and we're going to have price which I'm sure that Trump is not going to start saying price gouging of a you know, right? But that's not price gouging. If you have a you know, go to Florida. We have a hurricane. Where we live in Florida and New York, we have a hurricane. All of a sudden the shelves are empty and there's no goods around, because everybody's been stocking up getting ready for the storm. And then all of a sudden, the politicians are yelling that somebody's price gouging, because they raised their prices in a market that was in disequilibrium. Well, that's not price gouging. That's supply and demand trying to find a new balance basic economics. You know, when the demand is 100 and the supply is 35 okay, but I'm kind of getting ahead here, but I think there's very good likelihood that there's going to be a human cry right before, you know, maybe in the fall or right before Christmas, about price gouging and Trump then saying, Well, I was elected to bring prices down and bring inflation under control. It's out of control because all of these foreigners raised their prices. And no, they did, and it was the tariff that did it, and all the people in the supply chain are trying to take advantage of the temporary disruptions. So I think people have to understand, and I can't say this, and I don't like to say it, because I certainly didn't think the other candidate in the last election had anything to offer in terms of dealing with our serious economic problems in this country. I'm talking about Harris. But the fact is, Donald Trump has had a wrong idea for the last 40 to 50 years of his adult life. In that core idea is that trade deficits are a sign of the other side cheating. They're a sign that you're being exploited or taken advantage of or ripped off, or it's not at all okay. Trade deficits are a consequence of cost differences between different jurisdictions, and to the extent that we've artificially, unnecessarily inflated our costs. We need to fix the problem at the source. He ought to clean house at the Federal Reserve. But the problem is, Trump wants lower interest rates when, in fact, the low interest rates created all the inflation that led to our loss of competitiveness and the huge trade deficits we have today. So to summarize, it is important to understand, do not have faith in Trump's promise that we're going to have a golden age of economic prosperity. We are going to have a economic disaster, and it's a unforced error. It's self inflicted, and it's the result of the wrong fundamental idea of one guy who's in the oval office right now throwing his considerable weight around and pushing the economy into upheaval that really is totally unnecessary. He should have done what he was elected to do, and Matt's work on getting production up and costs down, that's not going to be solved with tariffs. David, I have another important point to bring up. But before we do just quickly, are those two to 4% tariffs you mentioned earlier. Those are the tariff levels pre Trump second term correct.    We could clarify that those are for the year 2023 that was the latest full year data that we have with great deal of granularity.    Keith Weinhold  29:56   The point I want to bring up is there any history? That tariffs actually work. Some people cite the Smoot Hawley Tariff Act from the 1930s and that it drove us deeper into the Great Depression. And David, on the one hand, when we think about, do tariffs actually work? If Indonesia can make shoes for us for $11 why would we want to onshore an activity like that? That is a good deal for us. And then, on the other hand, you have someone like Nvidia, the world's leading semiconductor company, they announced plans to produce some of their AI supercomputers entirely on American soil for the first time recently. And you have some other companies that have made similar announcements. So that's a small shred of evidence that tariffs could work. But my question is, historically, do tariffs actually work?    David Stockman  30:44   That's a great question, and there's a huge history. And you can go back all the way the 19th century, where Donald Trump seems to be preoccupied, but what he fails to recognize is that they worked in the 19th century because they were revenue tariffs. It wasn't an effort to, like, bring jobs back to America. We were booming at the time. Jobs were coming to America, not leaving, and it was the federal government's main source of revenue. Because, as you know, prior to 1913 there was no income tax, right? So that was one thing. Okay, then when we got into the 20th century and host World War Two, it became obvious to people that the whole idea of comparative advantage, going all the way back to Adam Smith, and that enhanced a global trade where people could specialize in whatever their more competitive advantage is, was a Good thing. And so we had round after round of negotiations after World War Two that reduced tariff levels steadily, year by year, decade by decade. So by the time we got to the 1990s when China, then, you know, arose from the disaster of Mao and Mr. Dang took over and created all the export factories and said, It's glorious to be rich and all these things is we got red capitalism. But if we start in the 1990s the average tariff worldwide, now this is weighted average on all goods that are bought and sold or imported and exported, was about 9% and there were have been various free trade deals done since then. For instance, we had NAFTA, and the tariffs on Mexico and Canada and the United States went to zero. We had a free trade deal in 212 with South Korea. This never comes up, but the tariff on South Korean goods coming the US is zero. The tariff on us, exports going to South Korea is zero because we have a free trade agreement, and it's worked out pretty well with South Korea. Now we're not the only ones doing this. Countries all over the world. The EU is a total free trade zone in economy almost as big as the United States that used to have tariff levels between countries. Now it's one big free trade zone. So if you take the entire world economy, that 9% weighted average tariff of the early 90s, which was down from maybe 2025, 30, pre World War Two in this Smoot Hawley era, was down to 2.25% by the time that Donald Trump took office, the first time around in 2017 now 2.25% is really a rounding error. It's hardly when you have $33 trillion worth of goods moving around, you know, container ships and bulk carriers and so forth all around the world, and air freight and the rest of it, rail. 2% tariff is not any kind of big deal, as I say in some of the things I write, it's not a hill of beans. So somehow, though 45 years ago, Trump got the idea that tariffs were causing a problem and that we had trade deficits, not because our costs were going up owing to bad monetary policy, but because the other guy was cheating. Remember, this is Trump's whole view of the world. It's a zero sum game. I win, you lose, and if I'm not winning, is because you're cheating. Okay? In other words, I'm inherently going to win. America's inherently going to win unless the other guy is cheating. Now, Trump sees the world the same way that I think he looked at electrical and plumbing contractors in the Bronx, you know, in the 1980s and 1990s when he was developing his various Real Estate projects. These are pretty rough and tumble guys. It's a wild, easy way to make a living. So there's a lot of, you know, there's a lot of pretty rough baseball that's played that mentality that the other guy is always trying to screw me, the other guy's always cheating, the other guy's preventing me from winning, is, is his basic mentality. And it's not Applicable. It's not useful at all to try to understand the global economy. Try to understand why America's $29 trillion economy is not chugging along as strongly and as productively as it should be, why real wages are not making the gains that workers should be experiencing and so forth. So he ought to get out of this whole trade, tariff trade war thing, which he started, I don't know how he does, it's a little late, and focus on the problems on the home front. In other words, our trade problem has been caused by too much spending, too much borrowing, too much money printing on the banks of the Potomac. It's not basically caused in Beijing or Tokyo or Seoul or even Brussels, the European Union. And we need to get back to the basic and the real culprit, which is the Federal Reserve and its current chairman, Paul, if he wants to attack somebody, go after the Fed. Go after Paul. But ought to give them a mandate to bring inflation to zero and to stop fooling around with everything else and to stop monetizing the public debt that is buying government debt, take care of your own backyard first before you start taking, yeah, sure, yeah, exactly. You know, I've been in this for a long time. I start, as I said, I started on Capitol Hill. There have been a lot of protectionist politicians, but they always argued free trade is good, but it has to be fair trade. And you know, we have this example in our steel industry, for instance, where we producers abroad are competing unfairly for one reason or another. But the point I'm getting to is they always said this is an exceptional case. Normally we would go for free trade, but we got to have protection here. We got to have a temporary quota. Even when I was in the Reagan administration, we had a big argument about voluntary quotas on Japanese car exports, and I was totally against it. I thought the US industry needed to get its act together, get its costs down. Needed to get the UAW under control, because it had pushed wages, you know, way, way, way too high terms of total cost. But they argued, yeah, well, you're right, but we have to have 10 years in order to allow things to be improved and adjusted and catch up. So this is only temporary. This is just this. Yes, this is protectionism, but it's temporary. It's expedient that we can avoid and so therefore we'll make an exception. But there is no one, and most of these people were, you know, in the payroll of the unions, or they were congressmen from south to South Carolina going to bad for the textile industry, or congressman from Ohio going to bat for the steel industry, whatever, but there was no one who ever came along and said tariffs are big, beautiful things, and we need to have permanent high tariffs, because that's the way we're going to get prosperity back in United States. It's a dumb idea. It's wrong. It's disproven by history and people. Even though Trump has done a lot of things that I like you know, he's got rid of dei he's got rid of all of this green energy, climate crisis nonsense, all of that that he's done is to the good when you come to this basic question, how do we get prosperity in America? The answer is, through free market capitalism, by getting the government out of the way, by balancing the budget and by telling the Fed not to, you know, inflate the economy to the disadvantage that it has today. That's how you get there. And Trump is not a real Republican. Trump is basically what I call a status. He's for big government, right wing status. Okay, there's left wing, Marxist status, then there's right wing status. But you know, all of this tariff business is going to create so much corruption that it's almost impossible to imagine, because every day there's someone down there, right now, I can guarantee it at the, you know, treasury department or at Commerce department saying, but we got special circumstances here in terms of the parts that we're making for aircraft that get assembled in South Korea or something, and we need special relief. Yes, every industry you're doing is putting in for everybody's going to be there the lobby. This is the greatest dream that the Washington lobbyist community ever had. Trump is literally saying he put this reciprocal tariff. You saw the whole schedule. That he had on that easel in the White House on April 2, immigration day. It was called Liberation Day. I called it Demolition Derby Day. There was a reciprocal tariff for every single country in the world based on a phony formula that said, if we have $100 million deficit with somebody, half of that was caused by cheating. So we're going to put a tariff in place closes half of the difference. I mean, just nonsense, Schoolboy idiocy. Now it is. I mean, I know everybody said, Oh, isn't it great? We've finally got rid of the bad guys, Biden, he's terrible, and the Democrats, I agree with all that, but we replaced one set of numb skulls with another set. Unfortunately, Republicans know better, but they're so intimidated, apparently buffaloed by Trump at the moment, that they're going along with this. But they know you don't put 145%tariff on anything. I mean, it's just nuts. David, I feel like you're telling us what you really think and absolutely love that.    Keith Weinhold  41:04   Interestingly, there is a Ronald Reagan clip about tariffs out there in a speech that he gave from Camp David, and it's something that's really had new life lately. In fact, we played the audio of that clip before you came onto the show today, Reagan said that he didn't like tariffs and that they hurt every American worker and consumer as Reagan's economic advisor in the White House. Did you advise him on that?    David Stockman  41:27   Yes, I did. And also I can give you a little anecdote that I think people will find interesting. Yeah, the one time that he deviated in a big way from his free trade commitments was when he put the voluntary export quota on the Japanese auto industry. That was big. I don't remember the exact number, but I think it said they couldn't export more than 1.2 million cars a year, or something like that the United States. And the number was supposed to adjust over time, but we had huge debates in the Cabinet Room about those things, and at the end of the day, here's what he said. He said, You know, I've always been for open trade, free trade. I've always felt it has to be fair trade. But, you know, in this case, the Japanese industry came to us and asked for voluntary quotas, so I didn't put up a trade barrier. I'm only accommodating their request. Well, the Japanese did come to him and ask. They did, but only when they were put up to it by the protectionists in the Reagan administration who, on this took them on the side, you know, their negotiators and maybe their foreign minister. I can't remember exactly who commerce secretary and said, If you don't ask for voluntary quotas, we're going to unleash Capitol Hill and you're going to get a real nasty wall put up against your car. So what will it be? Do you want to front for voluntary quotas? Are we going to unleash Congress? So they came to Reagan and said they were the Japanese industry said they're recommending that he impose voluntary restraints on auto exports. That was just a ruse. He wasn't naive, but he believed what you told him. He believed that everybody was honest like he was, and so he didn't understand that the Japanese industry that was brought to meet with him in the Oval Office had been put up to, it been threatened with, you know, something far worse, mandatory quote is imposed by Congress. But anyway, it's a little anecdote. What happened? On the other hand, he continued to articulate the case for small government sound money. We had deficit problems, but he always wanted a balanced budget. It was just hard to get there politically. And he believed that capitalism produces prosperity if you let capitalism work and keep the government out of the marketplace. And there is no bigger form of intervention and meddling and disruption in the capitalist system, in the free market, in the marketplace, than quotas on every product in every country at different levels. They're going to have 150 different countries negotiating bilaterally deals with the United States. That's the first thing that's ridiculous. They can't happen. The second thing is they're going to come up with deals that don't amount to a hill of beans, but they'll say, we have a deal. The White House will claim victory. Let me just give one example. As we know, one of the big things that Trump did in the first administration was he renegotiated NAFTA. And NAFTA was the free trade agreement between Mexico, Canada, United States. Before he started in 2017 the trade deficit of the US with Mexico and Canada combined with 65 billion. And he said, That's too big, and we got to fix NAFTA. We have got to rebalance the provisions so that the US comes out, not on the short end of the stick 65 billion. So they negotiated for about a year and a half, they announced a new deal, which he then renamed the United States, Mexico, Canada agreement, usmca, and, you know, made a big noise about it, but it was the same deal with the new name. They didn't change more than 2% of the underlying machinery and structure, semantics. Well now, so now we fast forward to 2024 so the usmca Trump's pride and joy, his the kind of deal that he says he's going to seek with every country in the world is now four years into effect. And what is the trade deficit with Canada and Mexico today, it's 230 5 billion okay? It's four times higher now than it was then when he put it in place. Why? Because we have a huge trade deficit with Mexico. Why because, you know, average wages there are less than $10 an hour, and they're $40 an hour here. That's why it has nothing to do with a bad trade deal. It has to do with cost differences.    Keith Weinhold  46:27   David, this has been great, and as we're winding down here, we have a lot of real estate investor listeners tell us what this administration's overall policies, not just tariffs, but overall policies, mean for future employment, and then tell us about your highly regarded contra corner newsletter.    David Stockman  46:45   Well, those are that's a big question. I think it doesn't mean good, because if they were really trying to get America back on track our economy, they would be fighting inflation tooth and nail to get it down to zero. They would be working day and night to implement what Musk came up with in the doge that is big spending cuts and balancing the budget. They're not doing that. They're letting all these announcements being made, but they're not actually cutting any spending. They would not be attempting to impose this huge apparatus of tariffs on the US economy, but they're not doing that. So I'm not confident we were going in the wrong direction under Biden, for sure, and we're going in an even worse direction right now under Trump. So that's the first thing. The second thing is, I put out a daily newsletter called David stockman's Country corner. You can yes signers on the internet, but this is what we write about every day, and I say A plague on both their houses, the Democrats, the Republicans. They're all, in many ways, just trying to justify government meddling, government spending, government borrowing, government money printing, when we would do a lot better if we went in the opposite direction, sound money, balanced budgets, free markets and so forth, so. And in the process, I'm not partisan. You know, I was a Republican congressman. I was a budget director of the Reagan administration. I have been more on the Republican side, obviously, over my career than the Democrats, but now I realize that both parties are part of the problem, and I call it the uni party when push comes to shove, the uni party has basically been for a lot of wars abroad and a lot of debt at home, and a lot of meddling in the economy That was unnecessary. So if you look at what I write every day, it tries to help people see through the pretenses and the errors of the unit party, Democrats and Republicans. And in the present time, I have to focus on Trump, because Trump is making all the noise.    Keith Weinhold  48:59   100% Yes, it sure has kept life and the news cycle exciting, whether someone likes that news or not. Well, David, this has been great. In fact, it sounds a lot like what Reagan might have told me, perhaps because you were a chief economic informant for him, smaller government, letting the free trade flow and lower inflation. Be sure to check out David stockman's contra corner newsletter if you like what we've been talking about today, just like it was last year, David, it's been a real pleasure having you on GRE today.    David Stockman  49:30   Well, thank you very much. And these are important issues, and we've got to stay on top of them.   Keith Weinhold  49:41   Oh, yeah. Well, David Stockman truly no mincing words. He doesn't like tariffs. In summary, telling GRE listeners that the problem with trade imbalances is inflation attack that instead quell inflation, don't impose tariffs. A lot of developing nations and China have distinct advantages over manufacturing in the United States, besides having the trained labor and all the factories and systems in place, think about how many of these nations have built in lower costs they don't have to deal with these regulatory agencies, no EPA, no OSHA, and not even a minimum wage law to have to comply with. And here in the US get this, 80% of American workers agree that the US would benefit from more manufacturing jobs, but almost 75% disagree that they would personally be better off working in a factory themselves. That's according to a joint Cato Institute in YouGov survey. It's sort of like how last century, Americans lamented the demise of the family farm, yeah, but yet, they sure didn't want to work on a farm themselves. Now there are some types of manufacturing, like perhaps pharmaceuticals or computer chips that could likely be onshore, because those items are high value items. Their value can exceed the cost of being produced in the USA, but a lot of these factory goods, not again. If these topics interest you do a search for David stockman's contra corner, or you can directly visit David stockman's contra corner.com. Big thanks to the father of Reaganomics, David Stockman on the show this week. As for next week, we're back more toward the center of real estate investing. Until then, I'm your host. Keith Weinhold, don't quit your Daydream. Y   Unknown Speaker  51:42   nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC   Keith Weinhold  52:02   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got paywalls and pop ups and push notifications and cookies disclaimers, it's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. 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