Podcasts about Fed

What if the real threat to our economy isn't in tomorrow's headlines—but in the unstoppable march of demographics and a hidden wave of “financial eminent domain”?Lou Diamond sits down with his former mentor, Wall Street legend and the original “Convexity Maven” himself, Harley Bassman, for a riveting, honest conversation that will change how you see global markets, monetary policy, and even your own mortgage.In this candid interview, Harley Bassman unpacks how decades of government policy, economic cycles, and simple human nature keep repeating themselves—no matter how much we hope things will be different this time. From the impending strain of an aging Baby Boomer generation to why gold's recent rise signals more than market speculation, Harley shares his unfiltered perspective on where our financial system is heading and what might make it unravel.Key episode highlights include:The real drivers behind persistent deficits and why both political parties are “just going to print money”—with staggering consequences (05:00)Why Harley believes that market timing is a “terrible idea” and instead urges listeners to focus on 30,000-foot, long-horizon trends (04:17)An exclusive breakdown of Harley's innovative take on mortgage portability, and why your ultra-low-rate mortgage might soon be treated like a financial asset you can literally take with you (10:00)The surprising ways good intentions in public policy often trigger unexpected market distortions—from rent control to historic Fed moves (09:05)Behind the scenes of inventing legendary financial instruments, why the MOVE Index was created, and what it really means to stand “on the shoulders of giants” (07:06)Harley's personal reflections on the scariest economic crisis of his career, and the lasting damage the COVID era did to public trust (19:43)Plus, a speed round of personal favorites, career advice, and why you should “go on vacation with your kids—you're dead a lot longer than you think” (16:11)Whether you're a market veteran or a curious listener, get ready for an episode brimming with hard-won wisdom, sharp humor, and truths the financial news never tells you.Timestamped Episode Overview:00:00 – Intro and welcome with Lou Diamond00:26 – Harley's background and mentoring legacy02:23 – How Harley became a prolific financial writer03:45 – The power (and limits) of episodic market commentary04:08 – Geopolitics, demographics & deficits05:35 – Why history always repeats: “It's never different this time”07:03 – Creating products: Solving problems and seizing mispriced opportunities08:33 – Mortgage portability: A solution to America's housing logjam12:03 – The evolution and politics of the Fed15:38 – Where to find Harley online and why family vacations matter16:50 – Fun Street: Music, movies, lifestyle habits & favorite places19:17 – The scariest market crisis Harley ever lived through21:10 – Lou thanks Harley and wraps up22:00 – Outro and how to stay connectedListen and discover the patterns behind the chaos—only on Thrive Loud.

Shaun explains how politicians have been able to steal elections and take away our first amendment rights. PLUS, Peter Schweizer, New York Times best selling author and investigative journalist, discusses his new book, The Invisible Coup: How American Elites and Foreign Powers Use Immigration as a Weapon, and tells Shaun how the Democrats have used mass migration to gain core voters and how China is exploiting our birthright citizenship to eventually infiltrate our elections. And The Heritage Foundation's Dr. EJ Antoni tells Shaun The Fed may actually be moving in the right direction with President Trump's pick for the new Fed chair.See omnystudio.com/listener for privacy information.

Crypto News: Will Bitcoin see a relief rally soon? Wall Street firm Bernstein reiterated its $150,000 year-end price target on BTC. Jim Cramer said Trump is buying Bitcoin for the reserve. Brought to you by ✅ VeChain is a versatile enterprise-grade L1 smart contract platform https://www.vechain.org/

In this timely solo episode, Amy Sylvis breaks down what a potential shift in Federal Reserve leadership could mean for the economy, interest rates, and commercial real estate investors. With speculation swirling around a possible nomination of Kevin Warsh as the next Federal Reserve Chair, Amy walks listeners through how a more forward-looking, deregulation-friendly Fed might change monetary policy decisions and why those changes matter far beyond Wall Street.The conversation goes deeper than headlines, connecting Federal Reserve strategy to the growing pressure of U.S. national debt, refinancing timelines, and the real-world consequences of interest rate decisions. Amy also shares how she personally thinks about inflation, hard assets, and passive income strategies in uncertain economic environments, offering listeners a grounded framework for thinking long-term rather than reacting emotionally to short-term noise.Connect with Amy Sylvis:https://www.linkedin.com/in/amysylvis/Contact Us:https://www.sylviscapital.comhttps://www.sylviscapital.com/webinar00:00 Introduction to the New Federal Reserve Chair Nominee00:18 Welcome to the Secrets to Abundant Living Podcast01:20 Speculations on Kevin Warsh's Potential Impact03:59 Three Key Changes Under Kevin Warsh's Chairmanship09:58 Invitation to Passive Income Training10:57 The National Debt and Interest Rates16:01 Conclusion and Final Thoughts

Glenn reminisces about the community he had while growing up. Has childhood innocence been destroyed? Right before the Super Bowl aired, F-22 fighter jets were pulled due to other "operational assignments." That is just the beginning of military equipment headed toward the Middle East. What is going on? Committee to Unleash Prosperity co-founder Stephen Moore joins to discuss the state of the American dollar and the changes coming to the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices

Millions of people across the country made an important decision last night: Which Super Bowl halftime show did they watch? After Latin rapper Bad Bunny was announced as the headliner of this year's Super Bowl halftime show, Turning Point USA decided to put on its own show, headlined by Kid Rock. Glenn reads some of Bad Bunny's lyrics and questions how they were allowed to be sung on the air. On the other end, TPUSA's halftime show ended with Kid Rock sharing the gospel of Jesus Christ. Glenn reminisces about the community he had while growing up. Has childhood innocence been destroyed? Right before the Super Bowl aired, F-22 fighter jets were pulled due to other "operational assignments." That is just the beginning of military equipment headed toward the Middle East. What is going on? The price of Bitcoin is steadily declining as precious metals continue to rise. What does this say about the state of the economy? Committee to Unleash Prosperity co-founder Stephen Moore joins to discuss the state of the American dollar and the changes coming to the Fed.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture The Fake News lost the narrative on the climate hoax. Trump bringing back the fishing industry in Maine. Everything is being reverse, jobs are coming back. Trump is moving the pieces on the board and preparing the country to move back to sound money and the is using the market as a weapon. The [DS] cannot keep the country divided anymore. The people are awake and they are seeing the true enemy through the fog. Trump is pushing everything to win the Midterms. We are watching the final countdown. Trump is exposing the system and the election cheating system to force the RINOS to pass the save act. Once this is done it is game over.   Economy https://twitter.com/ChrisMartzWX/status/2020341736896360591?s=20 (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");   foolishly reinstated them. Since Day One, I have taken historic action to END these disastrous policies and, today, I signed a Presidential Proclamation to UNLEASH Commercial Fishing in the Atlantic Ocean, advancing the America First Fishing Policy! I am restoring nearly 5,000 square miles of Fishing access off the Coast of New England, which will revitalize our Fishing Industry, and STRENGTHEN our Booming Economy. Congratulations to all of our Great Fishermen. Please remember I did this for you, against strong Democrat opposition, and VOTE REPUBLICAN IN THE MIDTERMS! PRESIDENT DONALD J. TRUMP  https://twitter.com/unusual_whales/status/2020181009124192563?s=20   https://twitter.com/Bobby1_x/status/2020284867708350837?s=20  house: 614 oz gold Now: 82 oz 1971 Car: 86 oz gold Now: 9 oz 1971 Harvard: 63 oz gold Now: 11 oz 1971 Gas: 1 oz gold = 113 gallons Now: 1 oz gold = 1736 gallons If you saved in dollars your value inflated away to almost nothing But if you saved in gold you INCREASED your real world purchasing power MASSIVELY You didn’t see inflation, you saw deflation And you never even had to do so much as sell as stock or learn about bonds and interest rates All you had to do was save in gold Gold is and always will be the ultimate store of value https://twitter.com/KobeissiLetter/status/2020229075487322323?s=20  By comparison, the 2020 high and 2012 peak were 40.9 million and 43.4 million, respectively. Meanwhile, ETFs of gold and other precious metals attracted +$4.39 billion in inflows in January, posting their 8th consecutive monthly intake. Furthermore, investors have invested a net +$3.62 billion in gold miner ETFs, the most since at least 2009. Demand for gold investments remains robust. https://twitter.com/MrPool_QQ/status/2020219515615793465?s=20  Reserve nominee if he doesn’t lower rates. “It was a joke.” No. It was a WARNING. The Fed’s days are numbered. MOVE 3: Pentagon CUT ALL TIES with Harvard. Military training. Fellowships. Programs. ALL GONE. The Ivy League pipeline to power is DEAD. MOVE 4: Launched TrumpRx. 43 medications. Ozempic included. Big Pharma’s monopoly: BROKEN. They charged you $1,000. He’s giving it for $300. MOVE 5: DHS funding expires February 13th. 6 days from now. Controlled shutdown incoming. Why? Because you can’t RESTRUCTURE what’s still running. Connect the dots: Iran tariffs = END of petrodollar Fed threat = END of central banking control Harvard cut = END of Deep State recruitment TrumpRx = END of Big Pharma monopoly DHS shutdown = RESTRUCTURING of homeland security This isn’t chaos. This is a DEMOLITION. Piece by piece. System by system. Pillar by pillar. The old world is being dismantled in REAL TIME. And the new one is being built while you watch.  DARK TO LIGHT   Political/Rights https://twitter.com/ICEgov/status/2019804241343234265?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2019804241343234265%7Ctwgr%5Ea4849f0e923af3c8c6337a4af454066151ac3a71%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fsupposedly-autistic-womans-tale-being-abused-arrested-ice%2F   the location, continued to impede our officers, and found out the hard way. 18 U.S.C. § 111 criminalizes impeding or interfering with federal officers. Team Trump Catches Gavin Newsom in a HUGE Lie During Back-and-Forth as California Governor Releases Thousands of Violent Criminal Illegals Back into Society https://twitter.com/KristiNoem/status/2019831108511158481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2019831108511158481%7Ctwgr%5Ed4914c3e3e7d1872b32b0c54f58216356aecffd0%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fteam-trump-catches-gavin-newsom-huge-lie-during%2F https://twitter.com/CAgovernor/status/2019876274798567749?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2019876274798567749%7Ctwgr%5Ed4914c3e3e7d1872b32b0c54f58216356aecffd0%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fteam-trump-catches-gavin-newsom-huge-lie-during%2F https://twitter.com/USAttyEssayli/status/2019883966355107911?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2019883966355107911%7Ctwgr%5Ed4914c3e3e7d1872b32b0c54f58216356aecffd0%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fteam-trump-catches-gavin-newsom-huge-lie-during%2F   The law in question is the California Values Act (SB 54), signed into law in 2017 by then-Governor Jerry Brown. The legislation bars state and local resources from being used to assist federal immigratio Source: thegatewaypundit.com https://twitter.com/liz_churchill10/status/2020347917962473789?s=20 https://twitter.com/elonmusk/status/2020451356562096282?s=20 https://twitter.com/KanekoaTheGreat/status/2020249786017095995?s=20   https://twitter.com/Kimberlyrja8/status/2019799463129133362?s=20  , Savannah stated, “[Nancy] is full of kindness and knowledge. Talk to her, and you'll see.” Many have noticed that the phrasing is nearly identical to the line from the famous thriller, when Sen. Ruth Martin addresses the kidnapper of her daughter, Catherine, saying, “Catherine is very gentle and kind. Talk to her, and you'll see.” https://twitter.com/IENouwen/status/2020088584964125145?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2020088584964125145%7Ctwgr%5E35d5b78a17a39c8933cea82db5535043ef4b09ff%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fwatch-savannah-guthrie-echoed-iconic-silence-lambs-line%2F TAKE A LISTEN   https://twitter.com/RyanSaavedra/status/2019972293032833214?s=20 https://twitter.com/drawandstrike/status/2020283785451806956?s=20   is coming. Remember immediately after that last tranche of documents were released, all of a sudden our international elite class of baby-farming, baby-eating kid fucking criminals were in an increasingly untenable position, where some of ’em had to resign from important positions, and others were being forced into exceedingly awkward explanations/apologies? Well how do you stop the train? How do you arrest the progress of the exposure of your baby-eating/kid fucking activities? Wouldn’t you try to come up with a way to do damage control where you make as VERY PROMINENT PUBLIC WARNING to the mainstream media: You do NOT really want to GO THERE and keep asking us awkward questions. BACK THE FUCK OFF. It could be YOUR mother next…TAKE THE HINT… Now… Who is she? Who is she pictured with? Where was the picture taken? Will Bill Clinton be asked on February 28 who she is and why he was with her on Epstein’s plane? Stay tuned for developments. https://twitter.com/ByronYork/status/2020107433612288444?s=20   BREAKING: Pam Bondi Announces Arrest of Key Suspect in the 2012 Benghazi Attack (VIDEO)  Attorney General Pam Bondi announced on Friday morning that the FBI arrested one of the key players behind the deadly terrorist attack against the US Consulate in Benghazi. Islamic terrorists attacked the US Consulate in Benghazi on September 11, 2012, eleven years after the attacks on the World Trade Center. As noted previously, the Libyan nightmare was the result of a war that President Obama and Hillary Clinton started.  They never should have started the war in Libya, never should have placed Americans there unprotected, and when the Americans in Benghazi were under attack on 9-11, 2012 they should have provided help.  Instead, four Americans died in Benghazi as was famously portrayed in the movie 13 Hours. For days after the attack on Benghazi, President Obama and Hillary Clinton blamed the attack in Benghazi on a made up story about a US citizen who incited protests in Benghazi from a YouTube video about Islam. They continued with the story as the caskets of the four dead Americans, including Ambassador Chris Stevens, were shipped back to the US. Barack Obama and Hillary Clinton left the Consulate to fend for itself and never sent military support to rescue the men trapped at the Consulate. Attorney General Pam Bondi: On September 11th, 2012, Americans watched horrified as our embassy in Bengasi came under a vicious terror attack. We lost four American lives that day: Ambassador Chris Stevens, Sean Smith with the State Department, and two CIA contractors, Glenn Dordy and Tyrone Woods. We have never forgotten those heroes, and we have never stopped seeking justice for that crime against our nation. In fact, from day one, Cash and Dan would sit in meetings and say, We're going to get them, and they did. Today, I'm proud to announce that the FBI has arrested one of the key participants behind the Bengasi attack. Zubar Albaqash landed at Andrews Air Force Base at 03: 00 AM this morning. He is in our custody. He was greeted by Director Director Patel and US attorney Jeanine Piero. Source: thegatewaypundit.com   DOGE Geopolitical https://twitter.com/GuntherEagleman/status/2020137645339226362?s=20   supposed to GUARANTEE freedom, not RESTRICT it!” Poland standing tall against Brussels' Big Brother nonsense. This is what real leadership looks like. No bowing to globalist overlords. Poland remains a STRONG ally of the USA and a fighter for liberty.   Illegal Migrants and Gang Members out of the United States. We discussed many other issues, including Investment and Trade between our two Countries. He loves the people of Honduras, and is focused on their Health, Well-being, Education, and Economic Prosperity. I look forward to welcoming President Asfura back to the United States. Tito: Congratulations on your Great Victory! PRESIDENT DONALD J. TRUMP War/Peace https://twitter.com/BuzzPatterson/status/2020388749834965399?s=20 https://twitter.com/Osint613/status/2020238386108543128?s=20 Security Alert: Land Border Crossings (February 5, 2026) Location:  Iran, countrywide Event:  Increased security measures, road closures, public transportation disruptions, and internet blockages are ongoing. The Government of Iran continues to restrict access to mobile, landline, and national internet networks. Airlines continue to limit or cancel flights to and from Iran. U.S. citizens should expect continued internet outages, plan alternative means of communication, and, if safe to do so, consider departing Iran by land to Armenia or Türkiye. Actions to Take: Leave Iran now. Have a plan for departing Iran that does not rely on U.S. government help. Flight cancellations and disruptions are possible with little warning. Check directly with your airlines for updates. If you cannot leave, find a secure location within your residence or another safe building. Have a supply of food, water, medications, and other essential items. Avoid demonstrations, keep a low profile, and stay aware of your surroundings. Monitor local media for breaking news. Be prepared to adjust your plans. Keep your phone charged and maintain communication with family and friends to inform them of your status. Enroll in the Smart Traveler Enrollment Program (STEP)  to receive the latest updates on security in Iran. If You Plan to Leave Iran:  U.S.-Iranian dual nationals must exit Iran on Iranian passports.  The Iranian government does not recognize dual nationality  and will treat U.S.-Iranian dual nationals solely as Iranian citizens. U.S. nationals are at significant risk of questioning, arrest, and detention in Iran. Showing a U.S. passport or demonstrating connections to the United States can be reason enough for Iranian authorities to detain someone.  U.S. citizens who do not have a valid U.S. passport in their possession should apply for one at the nearest U.S. embassy or consulate after departing Iran. The U.S. government cannot guarantee your safety if you choose to depart using the following options. You should leave only if you believe it is safe to do so. As of Thursday, February 5:   Source:    Medical/False Flags China Bombshell: Patel says Biden-era FBI ‘buried' truth about CCP's ties to biolab on US soil  FBI Director Kash Patel says his agency has resumed an aggressive counterintelligence offensive against China and its Communist Party (CCP) that had been sidelined during the Biden presidency but is concerned the prior administration may have “buried” the truth about dangerous biolabs on U.S. soil tied to Beijing. The FBI boss said the renewed efforts have already resulted in a 40% increase in Chinese espionage arrests in the first year of the second Trump administration. Source: justthenews.com  [DS] Agenda ICE Humilates Far-Left Boston Mayor Michelle Wu in EPIC Fashion After She Signs Executive Order Barring Agency from Conducting “Unconstitutional and Violent” Operations ICE agents delivered a humiliating and richly deserved blow to Boston Mayor Michelle Wu's ego on Friday, one day after she tried to hamstring them for doing their jobs. As WHDH reported, Wu signed an “An Executive Order To Protect Bostonians From Unconstitutional and Violent Federal Operations.” Specifically, the order bans federal officials, including ICE, from using city property for immigration enforcement operations. Wu's office says the order is designed to “protect residents from illegal federal overreach, prioritizing de-escalation, and reaffirms that Boston will hold anyone accountable who commits violence, property damage, or any criminal conduct in the City, including federal officials.” Source: thegatewaypundit.com https://twitter.com/libsoftiktok/status/2020487139377443327?s=20 https://twitter.com/WallStreetApes/status/2019900883082031120?s=20   https://twitter.com/Badhombre/status/2019488291263823960?s=20    “People for the American Way” and Brian Tyler Cohen's “Chorus.” People for the American Way receives most of its funding from George Soros' Open Society Foundations. Brian Tyler Cohen @briantylercohen was recently exposed in a scandal for receiving dark money from the Sixteen Thirty Fund and paying up to $8,000 a month to influencers like Olivia Julianna, David Pakman, JoJo From Jerz, and Leigh “Politics Girl” McGowan to amplify coordinated content. The Sixteen Thirty Fund, managed by Arabella Advisors, receives its funding from three major sources: – Berger Action Fund (Swiss billionaire Hansjörg Wyss) – Open Society Policy Center (Hungarian Billionaire George Soros) – Democracy Fund Voice (French-born eBay founder Pierre Omidyar). Twelve people run the “HQ” account full-time. This is yet another coordinated propaganda campaign funded by leftist billionaires attempting to push their globalist agenda and sow division. Nothing organic or truly Gen-Z about it beyond the faces used to represent it. https://twitter.com/visegrad24/status/2020289816882024790?s=20 President Trump's Plan https://twitter.com/Rightanglenews/status/2020293934413680968?s=20 NBC CAUGHT IN ANOTHER LIE: VP Vance and Wife Were Not Booed at Olympics – It Was Quite the Opposite Vice President J.D. Vance, his with Usha and three children are representing the United States this week at the Winter Olympics.   J.D. was a hit at the Olympics venue.  On Friday night during the opening ceremonies NBC claimed the crowd was booing when J.D. Vance and his wife were pictured on the big screen. What disgusting people. Of course, this lie was quickly exposed by several fact-checkers online. Ovation Eddie 2 caught the media in their latest disgusting lie: https://twitter.com/EricLDaugh/status/2020155556158136778?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2020155556158136778%7Ctwgr%5Ed35db378d07d7f30cba1d9449c0da87c52040e2a%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fnbc-caught-another-lie-vp-vance-wife-were%2F   Remember: You can never trust a single word coming from the anti-Trump, Anti-American legacy media. Source: thegatewaypundit.com   https://twitter.com/MrAndyNgo/status/2020310461267202235?s=20   https://twitter.com/CynicalPublius/status/2020285717713453058?s=20   that out. Democrats Cry As Trump Makes It Easier to Fire Federal Workers The Trump administration is planning to make it easier to discipline—and potentially fire—career officials in senior positions across the government, a move that would affect roughly 50,000 federal workers. The U.S. Office of Personnel Management, which oversees the federal workforce, issued a final rule on Thursday that creates a category of worker for high-ranking career employees whose work focuses on executing the administration's policies. Workers who fall into that category would no longer be subject to rules that for decades have set a high bar for firing federal employees.  The Trump team, however, characterizes the move as one that gives the executive branch the ability to better shape the bureaucracy to help serve its agenda, instead of allowing it to clandestinely thwart it: The administration has been clear that the goal of the rule is to more easily fire workers they argue are hindering Trump policies — a nod to the president's claims of a “Deep State” within the federal government trying to undermine him. “This is not about people's views or ideas. This is about whether they are refusing to actually affect their duties on behalf of the American people consistent with the objectives of this administration,” said Scott Kupor, director of the Office of Personnel Management (OPM), which promulgated the rule.   Source: redstate.com https://twitter.com/drawandstrike/status/2020298873923567783?s=20   doesn’t agree with the 5th Circuit’s ruling. How in the world would you REINSTATE a policy where an illegal who successfully evaded detection at a port of entry has legal recourse to bond when those illegals detected at a port of entry do not? The 5th just rightfully found that NEITHER kind of illegal should have recourse to bond – whether they are detected at a port of entry or they successfully sneak into the country and are here for months/years before being caught. The fact this absurd situation persisted for decades shows you the system was rigged to allow human trafficking and to create a literal legal industry to facilitate it.      Trump can “legally” mass deport ALL illegals, whether they have committed a crime or not. “A federal appeals court ruled that Trump administration can lock up the vast majority of people it is seeking to deport without offering a chance for bond, even if they have no criminal records and have resided in the country for decades.        https://twitter.com/alexahenning/status/2020196173663867144?s=20 https://twitter.com/HansMahncke/status/2020253940374245522?s=20   https://twitter.com/DNIGabbard/status/2020227805976678574?s=20  control of the Whistleblower's complaint, so I obviously could not have “hidden” it in a safe. Biden-era IC Inspector General Tamara Johnson was in possession of and responsible for securing the complaint for months. – The first time I saw the whistleblower complaint was 2 weeks ago when I had to review it to provide guidance on how it should be securely shared with Congress. – As Vice Chair of the Senate Intelligence Committee, Senator Warner knows very well that whistleblower complaints that contain highly classified and compartmented intelligence—even if they contain baseless allegations like this one—must be secured in a safe, which the Biden-era Inspector General Tamara Johnson did and her successor, Inspector General Chris Fox, continued to do. After IC Inspector General Fox hand-delivered the complaint to the Gang of 8, the complaint was returned to a safe where it remains, consistent with any information of such sensitivity. – Either Senator Warner knows these facts and is intentionally lying to the American people, or he doesn't have a clue how these things work and is therefore not qualified to be in the U.S. Senate—and certainly not the Vice Chair of the Senate Intelligence Committee. Here is a detailed chronology of the situation: – June 2025, I became aware that a whistleblower made a complaint against me that after further investigation, neither Biden-era IC Inspector General Tamara Johnson nor current IC Inspector General Chris Fox found the complaint to be credible. – The complaint required special handling and storage in a safe because the complainant chose to include highly sensitive information within the complaint itself rather than referencing the sensitive reporting and leaving the complaint at a lower level of classification. – Security standards for complaints that include such sensitive intelligence required the Inspector General to keep the complaint and the intelligence referenced secured in a safe from the time the complaint was made, until now. – In June 2025 after Biden-era Inspector General Tamara Johnson completed her review of the complaint, no further oversight or investigative activity took place. – Biden-era Inspector General Johnson had communicated with me directly throughout the course of her investigation into this complaint, yet neither she nor anyone from her office informed me that the Whistleblower chose to send the complaint to Congress which would require me to issue security instructions. – When a complaint is not found to be credible, there is no timeline under the law for the provision of security guidance. The “21 day” requirement that Senator Warner alleges I did not comply with, only applies when a complaint is determined by the Inspector General to be both urgent AND apparently credible. That was NOT the case here. – I was made aware of the need to provide security guidance by IC Inspector General Chris Fox on December 4, 2025, which he detailed in his letter to Congress. – I took immediate action to provide the security guidance to the Intelligence Community Inspector General who then shared the complaint and referenced intelligence with relevant members of Congress last week. Senator Warner’s decision to spread lies and baseless accusations over the months for political gain, undermines our national security and is a disservice to the American people and the Intelligence Community. https://twitter.com/seanmdav/status/2020151219210137711?s=20   https://twitter.com/AlecLace/status/2019802427487027667?s=20 https://twitter.com/WallStreetMav/status/2020150184374681890?s=20 https://twitter.com/AlecLace/status/2019849309148311983?s=20 https://twitter.com/TheStormRedux/status/2019941561367191842?s=20 https://twitter.com/Rasmussen_Poll/status/2020183096667128211?s=20  2. ALL VOTERS MUST SHOW PROOF OF UNITED STATES CITIZENSHIP TO REGISTER FOR VOTING.   3. NO MAIL-IN BALLOTS (EXCEPT FOR ILLNESS, DISABILITY, MILITARY, OR TRAVEL!). https://twitter.com/WarClandestine/status/2020314452483342609?s=20     (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");

Welcome to Impact Theory with Tom Bilyeu! In this episode, Tom Bilyeu and co-host Drew dive into the wild swings shaking up the markets, from a massive selloff in sectors like gold, crypto, and AI to fears of recession and the ever-intriguing Fed policy news. They break down how rapidly advancing AI is upending both the software industry and investor expectations, and discuss whether the so-called “AI bubble” is finally popping. But it wouldn't be Impact Theory without a trip through Conspiracy Corner: Tom Bilyeu and Drew unpack the latest twists in the Epstein saga—including mysterious surveillance footage, questionable lottery wins, and strange activity on his Fortnite account—all while questioning the reliability of “official narratives.” With the Clintons preparing to testify publicly and Ghislaine Maxwell set to appear before Congress, they explore what true transparency might look like—and whether America is ready to confront the full scope of institutional corruption. Finally, special guest Nick Fuentes joins the conversation to share his take on political outrage, voter apathy, and the long-term impact of the Epstein files on American politics. The episode wraps up with a candid reflection on the state of the American dream and the importance of individual skills in an uncertain society. If you're ready for spirited debate, market insights, and a deep-dive into the rabbit hole of the week's biggest conspiracies, this is one episode you won't want to miss. Quince: Free shipping and 365-day returns at https://quince.com/impactpodShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impactBlocktrust IRA: Get up to $2,500 funding bonus to kickstart your account at https://tomcryptoira.comNetsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheoryHuel: High-Protein Starter Kit 20% off for new customers at https://huel.com/impact code impact What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER:  https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.:  https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Learn more about your ad choices. Visit megaphone.fm/adchoices

John welcomes Bulwark economics editor and MS Now host Catherine Rampell to discuss the fragile state of the Trump 2.0 economy and how the president's policies — on China, tariffs, tech, manufacturing, and more — are undermining it in both the short and long term. Catherine also explains why Wall Street's collective view that Trump's pick to be the next Fed chair, Kevin Warsh, is an inflation hawk and fierce defender of the Fed's independence may prove to be wishful thinking ... or downright delusional. 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

Register here to attend the live virtual event "Why Central Florida is the Year's Most Compelling Housing Market" on Thursday, February 19th at 8pm Eastern. Keith looks at how a changing Federal Reserve leadership might shape the interest rate environment, then zooms in on what's really happening with homebuilders versus remodelers across the country.  You'll hear about a lesser-known strategy some investors are using to step back from day-to-day landlording while keeping their income, and then we head to Central Florida to explore why one fast-growing market is quietly becoming a hotspot for new-build rental properties.  Along the way, a longtime Florida builder joins the show to explain how they're creating affordable, investment-friendly homes and what kinds of rents and tenant demand they're seeing on the ground—plus a way you can learn more live if this opportunity fits your own portfolio plans. Resources: Register for the event at GREwebinars.com Episode Page: GetRichEducation.com/592 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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach 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— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   welcome to GRE. I'm your host. Keith Weinhold, the naming of a new Federal Reserve Chair. Then are homebuilders in trouble today? There are a dwindling number of them, and their profits are down. I'll talk to a homebuilder. Listen to what amenities tenants want today, and it's interesting. We'll learn how low of a mortgage rate builders will give you. Now there's an opportunity here today on get rich education.   Corey Coates  0:30   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 a 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   Keith Weinhold  1:14   mid south home buyers with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your return on investment as their North Star. It's no wonder smart investors line up to get their completely renovated income properties like it's the newest iPhone headquartered in Memphis, with their globally attractive cash flows, mid south has an A plus rating with the Better Business Bureau and 4000 houses renovated, there is zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate with an industry leading three and a half year average renter term. Every home they offer you will have brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter in an astounding price range, 100 to 150k GET TO KNOW mid south enjoy cash flow from day one at mid southhomebuyers.com that's mid southhomebuyers.com   Speaker 1  2:17   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  2:33   Welcome to GRE from countersport Pennsylvania to Davenport Iowa and across 488 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education now more than ever, where you learn about personal finance and real estate investing matters. There's more AI generated content out there. This show is all flesh and blood me. There's also more clickbait content out there that says something like the housing market is about to have a price crash. No, it's not. They're just there to get short term attention. So your information source really matters today. New incoming Fed chair, Kevin Warsh, was recently named. He will replace the outgoing Jerome Powell on May 15. I want to tell you more about that in a moment. But first, just imagine if this scenario were to occur, say that we get a Fed chair that has to deal with really high inflation. And so what this Fed chair does is that he successfully brings inflation down, and he does that without triggering a recession that's called a soft landing. Well, you know what? That's exactly what Jerome Powell did the past three years. Yeah, that's what he's accomplished, and he doesn't get credit for it. He only gets a lot of criticism. Now this doesn't mean that I love Powell. I don't even know that the Fed should exist at all, but Powell got a lot of criticism for calling 2022, wave of inflation transitory, and being too late to respond to it. So he gets some credit here as his term of more than eight years winds down. Let's listen in to some of Jay Powell's recent comments about succession,    Speaker 2  4:23   you've obviously experienced a lot during your time as Fed chair, served under multiple presidents. I'm wondering what advice you have for whoever your successor might be.   Speaker 3  4:34   Honestly, I'd say a couple of things. One is, you know, stay out of elected politics. Don't get pulled into elected politics don't do it. And that's another thing. Another is that you know, our window into democratic accountability is Congress, and it's not a passive burden for us to go. To Congress and talk to people. It's an affirmative, regular obligation. If you want democratic legitimacy, you earn it by your interactions with the our elected overseers. And so it's something you need to work hard at, and I have worked hard at it so and the last thing is, you know, it's easy to it's easy to criticize government institutions so many ways. I will tell whoever it is you're about to meet the most qualified group of people you not only have ever worked with, you will ever work with and when you meet fed staff. And not everybody's perfect, but, but there isn't a better cadre of professionals more dedicated to the public well being than work at the Fed.    Keith Weinhold  5:43   Yeah. So to Powell's point, the next Fed chair, worsh, does champion fed independence, much like Powell has. That is a good thing that keeps America from turning into a banana republic that maintains a strong dollar. Warsh was actually a Fed Governor back during the 2008 global financial crisis, so he's got that experience when he comes in as Fed Chair in three months, he's widely expected to lower interest rates more than Powell did, much like the president wants. Kevin Warsh looks a lot like Michael Scott from the office. He has got to be less bumbling than him, though, overall, the effect on real estate and mortgage rates by shifting from PAL to worsh, I mean, that should be pretty mild. Maybe you'll see rates go a little lower than if pal had stayed and speaking of rates, wait till you see how low the mortgage rate is that our homebuilder guest is offering today. What's really happening with homebuilders now? How much trouble are they in? Homebuilders have largely been maligned. Overall. There are fewer homebuilders today in America than there were 20 years ago, and there are more remodelers than there were 20 years ago, fewer home builders, more remodelers, and that's for a few different reasons. Over the past couple decades, we just have substantially higher labor and material costs, stricter building and energy codes, higher interest rates, and that disproportionately hurts long duration construction projects. We've got zoning constraints and land constraints that make ground up development slow and uncertain and risky. So while the number of Home Builders in America is down, the number of remodelers are up, because America's housing stock is getting older. Its median age is over 40 years, and that creates constant demand for upgrades. Capital prefers faster, lower risk cycles. That's what remodels offer, and homeowners with locked in low mortgage rates choose to stay in place. And what does that make them do? That makes them renovate and remodel, not move. So this is why, compared to 20 years ago, you have fewer home builders and more remodelers. Today, that's per the NAHB and the Census Bureau and all these forces, they've resulted in a lower profit margin for homebuilders. Yes, homebuilder margin compression for a lot of the bigger builders, including DR Horton, just as you might guess in this cycle, their profits were greatest in 2022 and they have fallen since then. Higher mortgage rates came in, and builders had to lose profits by offering more incentives to entice buyers. You're going to learn more about that today and how it really spells quite an opportunity for you and I. When the final change in national home prices was tallied for the end of last year, they had risen in 16,500 zip codes. All right, that's 63% of America's zip codes, and prices were lower from a year earlier in the other 37% home price gains were concentrated in the Northeast and Midwest, and the story there continues to be too many buyers and not enough homes. In fact, over 85% of zip codes saw price growth in Illinois, Connecticut, Wisconsin and Indiana, slow, steady, stubborn, kind of like winter refusing to leave. Losses were predominant in the Sun Belt. Prices caught their breath there. There was price attrition in Florida, with 96% of zip codes, so nearly all of Florida, then California, 78% of zip codes had a price loss. Texas, 75% of them and Arizona, 73% the biggest pocket of opportunity appears to be in Florida. Florida property is on sale. And because real estate is local. A lot of times we talk here nationally, but to get to that local level, sometimes you have to dig in to a local market to really find out what's going on. We're going to do that today. Now, central Miami, Orlando and Tampa, they're not generally the spot for obtaining cash flow from long term rentals. I've identified an opportunity. We'll get into that with this Florida homebuilder shortly. It's kind of funny. You'll run into people that say they want opportunity, but what they really want is certainty. How it plays out, though, is that once the certainty arrives, the opportunity is gone, and that's how to think about Florida and maybe Texas and some of these other markets today that have had price attrition.    Keith Weinhold  10:48   Now, three weeks ago, here on the show, I discussed the 721 exchange for the first time. So I won't get into all those details again when it comes time for you to sell your investment property, the 721 can be the best way for you to cash out. Perhaps you've been investing in real estate for a while and you have turned get rich education into got rich education. How the 721 exchange works is they basically say you have a case where you're a rental property owner and you realize that you don't want the hassles of landlording anymore. Oftentimes, this can mean you're older and real estate investing already took you where you wanted it to take you in life's journey, but you still like the financial benefit that ownership gives you. What you can do is exchange your properties into a partnership and receive shares in that partnership. Now that's different than a 1031, exchange. That's where you trade up some of your property that you directly own for what's usually more and larger property that you directly own. Well, instead, here's the big deal with exchanging your properties into a 721, partnership. The rules stipulate that this is not a taxable event, and therefore you don't have to pay any capital gains tax or depreciation recapture. Now that you're an owner in the partnership, you still get some of the benefits of owning the property, like appreciation and cash flow and such, yet no management or landlording at all like you would have with a 1031 and with a 721 you get all these benefits across a greater number of properties and markets diversification because you're a fractional owner in the other properties that are in the partnership, not only your own, and when you eventually pass away, your shares are stepped up in basis and can be distributed equally to heirs and C It's surely easier for you to divide shares among, say, your three children, than it is to divide your 18 rental houses among three children Who are going to have different goals and varying degrees of financial savvy. So the 721, exchange is a great estate planning tool too. You will have this partnership that makes an offer to buy your property. You're exchanging them for partnership shares. There's a firm that does this called flock homes, and they have a certain Buy Box to be clear with the 721, exchange, you can basically trade your rentals for shares in a diversified, professionally managed Real Estate Fund. This means that you keep your hard earned equity defer capital gains and other taxes, and you still get access to steady income and long term appreciation without the hassle of landlord duties, and you can visit flockhomes.com/gre, and get a free valuation. Get an offer for your property, see if it fits their buy box and see how much they'll pay you. There's often no need to pay to fix up or stage the property for sale or pay agent commissions for a certain investor type. This really can be a rather life changing experience for you to liquidate some or all of your property have zero tax obligation and still enjoy income and appreciation. So again, what you can do is stop by flock homes.com/gre, that's F, l, O, C, K, homes.com/g, R, E, let's discuss the home building climate today.   Keith Weinhold  14:38   I'd like to bring in a premium Florida homebuilder guest to the show, Jim, because there has been more homebuilding in Florida such that some areas of the state have excess supply. And when you add that onto the fact that the hot pandemic migration to Florida has slowed such that home prices have made a rare dip in the state, that is why it. A timely topic. Jim, you're on GRE Welcome to the show. Keith, great to be here. Thanks for having me. Yeah, and we did the IRL thing in Colorado there a few weeks ago. That was great hanging out in person. You provide entry level new build homes, mostly in Central Florida. And these are properties that are conducive to real estate pays five ways. These are properties that investors chiefly buy as rentals. So just bigger picture, tell us about that overall experience over, say, the last five years, as the pandemic wound down,    Jim Sheils  15:35   yeah, as the pandemic wound down, obviously Florida had a lot of attention. Some of it, rightly so, some of it, I think a little more inflated and commercial attention getting thrown at it. And you know, the type of deals that you and I have always stayed away from were very popular in Florida. You know, we're talking really nice houses. Keith, beautiful, nice HOAs people got in in 2021 let's say, with those very low interest rates on a six or $700,000 home, but now they're realizing that it's not going up $100,000 a year as they thought. And when they try to sell it, well, people trying to buy in $700,000 home, they're not getting that low interest rate. And if these people try to hold it and rent it, well, it doesn't cash flow, so it breaks one of those rules. It's not putting money in people's pockets, taking it out. And so we're seeing there was a large distribution of those types of houses around Florida. And then there were some builders like us that really focused on what was the most needed, and that was workforce housing. Now workforce housing, though, Keith, as you know, a lot of the builders don't want to build it. Why? Let's be straight. It's because the margins are lower right. But as you know, with me and my partner Chris, it was always let's make less margin and do more volume. That was always our model, and that was the area of the market where we felt we could build it right, we could get it financed right, and we could manage it right to hit the five things. And so we're seeing today, post pandemic, there are still key markets where the population growth is still the highest, coming into Florida, the prices are still the lowest, and there is a shortage of this type of workforce housing.   Keith Weinhold  17:11   Yes, you've identified a geography within Florida that have some of these characteristics like you're talking about. Tell us more about that region.   Jim Sheils  17:20   Yeah, we call it the Ocala region, so Central Florida, just west of Orlando. Right now, for example, u haul does their U haul top markets rankings every year? So where are the most U haul trucks going to now, you don't want to be on their side where they're coming from, Keith, because that's obviously the opposite. But for the second year in a row, the greater Ocala area has been the number 1u haul destination place in the country. So there's still a ton of population growth going there. Central Florida, I'm not going to say it sat out the growth during the pandemic that a lot of areas of Florida did, but it was starting at such a low basis with such a small amount of attention that today, even when people say, oh gosh, like I just said, house is 600 700 800,000 we're building new construction single family homes for under 300,000 the 270s a lot of the time. And we're building duplexes sometimes for under 400,000 and a lot of our you know, investors coming from the west coast. Say, are these fully built? Are they? But again, Central Florida has had a great affordability. Remain intact. It has a large population going in. There is a ton of job resource just blowing up in the area. And as you know, these are the things we look for. So we bought a lot of lots there. I'm gonna give credit to my partner, Chris. He saw calla more than I did, and we bought a lot of lots there in 2020 so before all the rises. So we got into the land basis, right? So that means we can build them at a great price. Our land basis is low, and that obviously passes along to our clients. And again, Central Florida is a perfect match for our goal. Because, you know, our goal is workforce housing, that cash flows on day one. But also nothing wrong with fixer uppers. I own a lot. I used to do a lot, but the new construction seems to have a little bit more of a less involvement, which it seems like a lot of our clients want.   Keith Weinhold  19:15   That was really prescient, as it turned out, for your business partner, Chris there to gobble up a lot of that land in 2020 before prices went soaring. And this is one reason why you can do things like offer a duplex for less than 400k That's a new build, which has some people saying like, does that thing include a roof even? But it surely does. These are very good quality livable properties. And the reason I have you here, Jim is because you are rare. There are fewer builders today than there were in decades past, and also those that build to your point earlier. They only want to build higher end properties, not the more affordable ones that you offer. We'll get more details on your price points and what properties. Products you offer later. But yeah, we have more remodelers today and fewer builders. And though it's a few years old, I found it interesting that census statistics show us that between 2007 and 2022 there are 73% more remodelers and 21% fewer builders today.    Jim Sheils  20:22   Interesting. You know, Keith, I didn't know that, and that makes me scratch my head on like when you and I were in Colorado, we were talking about future needs, even with growth that occurred during the pandemic going all the way back to oh eight when a real shortage started to start, we are still at an estimated three to 5 million homes short in the US. It really perplexes me that the amount of builders like us will be going down and not actually entering the market.   Keith Weinhold  20:47   Now, among those that are building, though, much of that is concentrated in the South, as I think we know, there's a recent resi club compilation show that 59% of current single family home building is in the south, and 41% is everywhere else. And how do you define the South? That's basically Maryland down to Florida, all the way out to Texas and Oklahoma. So you are pretty rare in some ways. However, where you're building regionally, that's not a rarity there, but yeah, having more remodelers today and fewer home builders, that's probably the result of a lot of things. You know, for one thing, just land and construction costs becoming that much more expensive over the past five years.   Jim Sheils  21:05    Yeah, we've been lucky, too, as you know, Keith, you've been with us for a decade now. But yeah, and we transitioned a piece of our company where Sumitomo forestry, large Japanese group stepped in and acquired a piece of our property. That was a very exciting thing for all of us together, because we had done well, and, you know, started small and built up to a decent sized builder for Northeast Florida and then the rest of Florida. But now, with Sumitomo coming in again, they build 17,000 homes worldwide every year, between all of their builders. Now being a part of them, we get to use their national material accounts, so they get pricing just as good, if not better, than national home builders, and they let us do our thing, stick to our build to rent, working with investor clients. We're not retail buyer guys, really. We like working with our investors, but just getting those great discounts on materials, again, we're always looking to pass on savings to our clients. Of course, we got to make margins as well, but if we're getting in with deals like that, getting into the land right, and knowing the pinpointed areas to get into, we can get the best deal for everyone. And that's been a major part having such a big, successful partner like Sumitomo keep us healthy, viable and able to do things we could have not even dreamed of five years ago.   Keith Weinhold  22:47   Yes, that gives you more capital and more options. Another unusual aberration in the market that really centers on a lot of what you do is that this fact that and this was mentioned on the show last year for the first time in my life, existing homes cost more than new build homes. Existing homes at about 420k nationally, and new build homes about 392k part of the divergence there is probably builder price cuts. So tell us more about that.    Jim Sheils  23:14   I think the issue Heath is builders built for largest spreads, and people bought very emotionally. I think you're to give you a compliment a very unemotional real estate buyer. You're not looking at, oh, this is a very nice, you know, extra his and hers porcelain sink. And we're looking at fundamental numbers a good, solid property. And I think what's caused a lot of that is people did the opposite. Builders were looking for the largest margin they could get, which was on those types of properties. And then buyers were looking very emotionally, and they were told, Hey, this is going to go up 50 to $100,000 a year. So just sit there and hold on, sure you'll lose $1,500 a month, but don't worry about it. You'll make up for that every year. And obviously we're not seeing that's true. They could have really used your class about the five ways to get paid in real estate. And I think that that's what's doing it. And this is what builders do. I mean, everyone's in a business, and a lot of builders just focus on the largest margin. Now that's eating them up now, because those types of properties are not in demand. To build them on spec would be very dangerous, but you can see that that worked for a short term. We're very glad we went to the low margin workforce housing model, because I see that falling out of favor almost never even in Oh 809, Keith, when I was in the remodel game, a lot of the properties that were new construction coming out that time they were affordable, still did very well.   Keith Weinhold  24:42   We're talking with a premium Florida homebuilder today, because they offer affordable properties that make sense for investors. But what about the demand? Where is that going to come from? Where is that going to be? And that's what's happening with the renter segment. We'll talk more about that when we. Come back. You're listening to get rich Education. I'm your host. Keith Weinhold,   Keith Weinhold  25:03   flock homes helps you retire from real estate and landlording, whether it's one problem, property or your whole portfolio through a 721, exchange, deferring your capital gains tax and depreciation recapture, it's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721, the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE, that's F, l, O, C, K, homes.com/gre.    Keith Weinhold  25:39   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom, family investments.com/gre, or send a text now it's 1-937-795-8989, yep, text their freedom coach directly. Again, 1-937-795-8989,   Keith Weinhold  26:51   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally, while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Ken McElroy  27:26   this is Rich Dad advisor, Ken McElroy. Listen to get rich education with Keith whitehold, and don't twitch your Daydream.   Keith Weinhold  27:40   Welcome back to get rich Education. I'm your host. Keith Weinhold, we're talking with Jim a premium Florida homebuilder here at such an interesting time in the cycle, since supply is up in some parts of Florida, Jim and his team has strategically chosen a place that is still fueling a lot of net in migration in Central Florida, and that's where the rental demand needs to come from as well. Now nationally, we've seen the homeownership rate fall over about the past year, from near 66% to near 65% that does not sound like much, but a 1% shift means there are 1.3 million new renters in just the past year. So with that in mind, and the fact that this low affordability for home buying means that people need to rent or stay renters longer, provides some of the Sustainable demand. So tell us more about the rental demand in Central Florida.   Jim Sheils  28:39   Yeah, you know, when we first went out there about a decade ago, Keith, I think it was 82 or 83% of all properties out there were owner occupied, which means it was a very lopsided amount of existing rental property available. And this is before the curve of population growth really took off. But when Chris and I went out there and we were assessing that small percentage of rental property that was out there. Gosh, it was old and kind of beat up. There was not a lot like the new construction that was available. So when we brought in new construction, we saw just the competition. Was hard to compete with us. You know, when it was an older, not so nice taking care of we came in and we saw a jump from, you know, doing older houses ourselves, you know, a person would stay about 13 months. But for the new construction in Central Florida, we've seen a jump to about three years. So that's really positive. People get into a new construction property they don't want to leave, whether that's half of a duplex or a single family. The duplexes are interesting because we're able to build those on infill lots and existing single family home neighborhoods, so a person who doesn't want to live in an apartment can live there, have their own yard, and they couldn't afford the whole single family, but to have half of a single family basically what a duplex is. It makes a big difference, and the people are in great demand of rental in Central Florida there because of exactly why. I said, Keith, the job. Course, continues to grow in Central Florida, extremely strong. The business incentives to come into the area by the local municipality is very, very good. So here's something interesting, Keith, the average salary in Ocala is about 72,000 and the average home price is about 298,000 that is a very healthy affordability one. Yeah, very, very good. And so that job source continues to pay very well. And we've talked about just the logistics centers and the Equestrian Center. That's the largest in the world. Now the villages are just 25 miles south. So Ocala becomes a bedroom community, and that is the second largest retirement community and growing in the US. So there's a lot of job source that allows people to live there at a good affordability. And so that combination of affordability with this extending job source has been really, really good for the Ocala region.   Keith Weinhold  30:59   It's been said that the only place you get money is from other people, and we're talking about your renters in this case. So oftentimes these renters, they had their sense of privacy there, like, for example, do the duplexes even have fenced backyards for each individual side,   Jim Sheils  31:17   depending on where they are? We will. Other times it hasn't been a requirement. We've done lots of surveys to see is it worth the price point to put in full fencing in certain areas. It can be in a lot of areas. Keith, they're just so excited with the price point not having to move into an apartment building that it hasn't even been warranted or necessary.   Keith Weinhold  31:38   Yeah. So we're talking about livability characteristics here, because oftentimes new build rental property results in a higher tenant stay that longer duration, because they're the first person that have ever lived there, and it's also difficult for them to go out and improve their living situation unless they become a home buyer, and that's difficult to do today. Tell us more about the incentives and the property types and so on, because there really are some pretty exciting ones.    Jim Sheils  32:09   One of the best things about Central Florida, Keith, combined with new construction, is insurance costs. Now you and I have laughed about the blanketed statement where you said, oh my goodness, you cannot get insurance in Florida. You can't get property insurance in Florida, or it's doubled, tripled, gone up 7x that is a true statement on certain properties. If you're buying older properties from the 1950s that are within a half mile of the beach on low lying ground, but new construction properties far away from the beach, that is a totally different things. So again, being in Central Florida, where we are, a lot of people think, oh, to insure a single family home there, that's going to be several $100 a month, when actually, you know, and you've seen a lot of our performer quotes, our insurance companies are getting a single family home done for about $65 a month on average, full coverage. And that's the advantage of new construction. Insurance companies are all about risk. They analyze risk. When you're on a new construction property built on higher ground away from the beach, they like that, and they do that a duplex. You're looking at about $100 a month. So incentive wise, we've really searched to team up with great insurance companies that get the best rates full coverage. And again, we surprise people when they say, Oh man, I thought there would be a whole nother zero at that monthly cost. And these are actual quotes, as you know, with working with a lot of GRE people. So that's one great thing, another great thing, Keith, that happened when we joined forces with Sumitomo. And again, Sumitomo 320, years old, one of the biggest powerhouses out of Asia, Warren Buffett, is very heavily invested in another one of the conglomerates, not the housing one we do, but he's very involved in one of their other companies. And when they came aboard, you know, we have no bank debt for a builder, which is rare. And since we have such a healthy balance sheet, we're actually able to work deals with mortgage companies where we'll do what's called builder forward commitments, Keith, and that means we will pre buy mortgages for our clients, for the homes we're building, and we will pass that savings along. So right now, you know, if an investment property in a duplex might be an average of 7% for anyone who walks in off the street to a bank. Right now, our most popular rate program for our investors, for single family or duplexes, is 3.75 Gosh. So as you know, for your five ways, if we want to get cash flow, there's a big difference. Yeah, we're getting affordable housing. But if the rate is over 7% compared to 375 that could eat up the cash flow with us being able to have this power to buy large tranches of money and pass it along and lock our people in again, an average right now at 3.75 is our most popular program, and that's long term money, then we're able to get that cash flow right off the bat. And you and I know how important that is   Keith Weinhold  34:50    for this super attractive 3.75% long term mortgage rate on single family homes and duplexes. How? Much does the buyer have to come out of pocket at the closing table to buy that down themselves? And how much do you the builder participate in that buy down?   Jim Sheils  35:07   You know, it depends Keith at different times, because there is a little bit of a fluctuation. Sometimes it can be as low as zero points or just one origination point to bring it in. It does vary. And also, if people say, hey, I really don't want to bring in any points. Well, that's fine. You know, if you don't want to walk in zero to 2% points for that, you can also just raise your rate up to four and a quarter and probably walk in nothing. So there's different things that we can do, but the goal of it is to have us have the brunt of it. And what I can tell you is, if the average person walked into a bank, and a bank wouldn't do this anyway. It's only for, again, builders with a certain size, but if you went into a bank right now and said, I'd like to buy my rate down to 3.75 the average Keith that this would cost a person off the street going into a bank would be 12 to 15% banks wouldn't even do it for an individual. But that's about the estimates when you look at it. So again, volume has privileged. The fact we're able to buy it down. It does cost us a good amount of money, but we're all able to save since we're kind of working together to buy these larger tranches. And again, the need of any investment for buying down the rate from the clients is very minimal.   Keith Weinhold  36:18   Tell us more about the property types, new build single family homes, new build duplexes.   Jim Sheils  36:23   You know, single family and duplexes are our main focus in 2026 for Central Florida, we've done the research. They're very high in demand. They rent quickly, and they rent long term to produce cash flow. Our average single family home under 300,000 we're aiming to after expense, make about $300 cash flow. Our duplexes should be about twice that amount, about just under $600 a month, or just over in cash flow. And then again, the prices are ranging from about 395, to 420, for a duplex. Again, these are in workforce areas where we're doing great, scattered lots. Scattered lot means there's already existing homes around. We like to go to an area where there's good a fundamental balance of homeowners and renters. So there's retail buyers that have bought their first home, and we will place our rentals in between them, whether it's a single family or a duplex.   Keith Weinhold  37:13   We sure don't need to do a complete audio pro forma here, but those cash flow amounts something near $300 for a single family home, and about double that for a duplex. Is that using, you know, a bought down rate to about 4% and some of these other inputs you're talking about, like low insurance costs and a certain property tax rate, can you tell us about that?    Jim Sheils  37:35   Yeah, property tax rate is property tax rate. We can get pretty dang close on property taxes, you know, based on millage and get that down. But when we do our performers, we absolutely go off of, you know, our average rate to be the 375, to four and a quarter. And then when GRE clients look at our performer, and they look at the insurance cost, that's an actual quote from one of our insurance companies that has insured hundreds and hundreds of these properties. Not a guess, yeah, so they know what they're doing. So yeah, those would be the assumptions made in there, and that's what we're basically getting on a week in, week out basis.    Keith Weinhold  38:09   That is really attractive as we're talking about new build. I imagine there is some sort of builder warranty as well.    Jim Sheils  38:16   There's a state mandated 210 warranty. 210 warranty is something we could talk probably a whole episode on Keith. But for what's good for people to know, basically what that means, you get two years coverage on the small stuff and 10 years coverage on the big structural stuff. And so that's why I like new construction. You know what? I used to personally just buy my own fixer up Return key properties from other people. I could get a one year warranty, and that's the best that really can be done. Now with new construction, we've gone from, you know, with our fixer upper homes, able to do a one year warranty, which is good at something. But now with new construction, we can do a 210 warranty, big difference, and also really helps the safety score of issues if they came up.    Keith Weinhold  38:59   We were talking about new build property, and we tend to project relatively low maintenance and repair costs for an obvious reason, maybe your long term vacancy rate could very well be lower as well, due to my earlier point about a tenant wanting to stay there for a long time, because it's hard for them to improve their living situation unless they went out and bought their own place. And you have the low insurance rates, and you have the low mortgage rates, all contributing to positive cash flow on a new build property. And we think about that tenant and what gets the tenant excited? We start to think about some of those amenities. So tell us about what amenities are offered, including inside, in the kitchen and so on.   Jim Sheils  39:38   Jim, yeah, great question, Keith. We've really gotten a great recipe for success for that. You know, we've been doing this a little over a decade now, and so you're always tweaking your build model. What do people like? What do they not like? What's good for durability? Let's look at maintenance and repairs. Let's look at turn costs. So our goal is always the dual focus. That's what looks good. And what lasts really well, yeah, because you want durability. When you have tenants, you want it to look good, so you sell it down the road, 510, years to a first time homebuyer, it looks great. You can sell it. But durability wise, you don't want a lot of extra expenses or maintenance and repairs. So we go durability. So what we found a couple of things. I always joke about this. I do not like the word carpet, Keith, that is a terrible swear word in real estate investing, I can tell you right now, if I could go back and this is not, you know, owning hundreds of rentals, if I could not have done carpet and just reversed it to like vinyl plank flooring, like we do now, or even tile, which was more, I probably would have been able to buy three or four of our duplexes cash with the amount of money, and that is not an exaggeration. So we do not do carpet. First of all, it seems like trends are changing. It's not in favor right now. So we do vinyl plank flooring, which looks really nice, almost like wood floors, super durable, though, for a young family that's going to be tenant occupied in your property and running around on it. That's great. Kitchen wise, again, we don't sell retail really. We like to work with investors, but down the road, our investor might want to sell to a retail buyer. So we know, you know, from our old fix and flip days of the FHA buyers, the kitchen's got a pop. So we always do, you know, we don't do the white appliances, which you know would save you quite a bit of money, and save us quite a bit of money. We do stainless steel appliances. We do all new cabinetry, you know, kind of the latest, nicer cabinetry, a little bit of an upgrade. And then, you know, butcher block countertops, those are going to wear in about a year or two. Keith, it feels really good to spend that smaller amount, you know. But we, we like to do the more durable, nice looking countertops, you know, that are, you know, just so much more esthetically pleasing and actually durable as well. Same thing in the bathrooms. A lot of new builders will do shower kit, which not a problem if you're saving money on a rehab, you know, but we would rather do tile, bring in the extra subcontractors to give tile, and then in the master we do the dual sinks, which this might sound like little stuff, Keith, but these are the micro movements that help get a tenant in quicker, stay longer and more rent. So we're always trying to do these extra things in the granite countertops, both in the kitchens and in the bathrooms. Those cost more upfront, but we see for long term of tenant we see, for the amount of rent we get, and for resale ability, because a lot of people don't think about that. You know what? In seven years you want to sell one of these properties? Well, it's a seven year old roof, it's seven year old plumbing, you're still in a great spot for an FHA buyer. And that esthetically pleasing flooring, bathrooms, kitchens. That allows an easier sale for them, because we want to look all the way around, not just a rental. I like to hold long term, but if you want to sell in five to 10 years, that's a very valid strategy.    Keith Weinhold  42:48   I like carpet in my own home, but not rentals. But what you're sharing with us, Jim, this is absolute gold that's been brought to you through experience. This over improvement versus under improvement line in rentals, and it really has a lot of balance between durability and price. These are the sort of things that really matter, but you are selling predominantly to individual investors, a lot of mom and pop investors. Why don't you make more sales to the retail, owner occupied market, or to institutional investors, even though that might be cracked down upon now. But why don't you sell to those parties?   Jim Sheils  43:26   Yeah, you know Keith, I did a lot of fix and flip to FHA buyers, and I'm an investor. I really like working with investors. So when this all really went back to is 2009 I had a lot of investors. I was in Northeast Florida. The deal flow was incredible. And I just had a lot of investors, you know, through my different networks and Masterminds, like, where you and I have met, and said, Hey, you're getting great deals in Northeast Florida. Could you help put some together for me? And so I had done quite a few fix and flips to retail buyers, and it just kind of hot on me, you know, way back then, like, Wow. I like working with investors. I like building portfolios. I also like the fact that when I'm normally building a portfolio for an investor, well, they hang out with other investors, and they're not looking to buy one property over the next five years. They're looking to buy five to eight properties over the next five years. great point. And so we just saw it as you gotta like who you work with, right? And nothing against first time homebuyers. But when I was rehabbing houses and selling them, golly, that was a lot of work. And then could be persnickety. Yeah, very persnickety. And so when Chris and I teamed up about 10 years ago, we had both gone through the same kind of aha, like going, Yeah, it seems great, but you could sell for more to a retail buyer. But again, like I go back to even the type of property we build, we'd rather do a volume with investors. Be a builder, buy investors for investors, and work that way. And I think it suits me. I think I would have probably hung up my shoes a long time ago if I was. Working with the amount of properties we've done with retail buyers compared to investors, honestly, and so I think it was just kind of, it was a preference, really, that made sense   Keith Weinhold  45:09   to your point. Investors buy multiple properties, and that way there are fewer parties to deal with. And investors tend to be less emotional than those more persnickety, owner occupied buyers. Well, Jim, you make it easy for investors. Besides all these incentives, you also offer an in house management solution for these investors, often that tend to be out of state. Well, Jim, before I ask you, if you have any closing thoughts, would you the listener like to ask Jim any question directly? Well, you can, because I have a great event to tell you about next Thursday, the 19th, at 8pm eastern Jim here and GRE investment coach, Naresh will co host a live webinar for Central Florida new build income property. In fact, Jim, I think you know Naresh longer than I have, as it turns out, but this event is free, and you the listener are invited. We've had between 250 and 550 registrants for our past webinars. Not all of them attend live. So the benefit of you attending live is that you can have any of your questions answered by either Naresh or Jim in real time, and besides learning about the Central Florida market and more about home building, you are going to see available new build income property, real addresses with some of these rather grand incentives that we've talked about here, you might end up with a long term rate of about 4% again, it is Thursday, the 19th at 8pm Eastern. Sign up is open now at grewebinars.com that's grewebinars.com Any final thoughts here, Jim, for this great event coming up next week?   Jim Sheils  46:52   I think we're going to dig a little deeper. Obviously, this is a conversation that was great, but moves pretty quickly when we talk next week, we're going to be able to dig into more of the fundamentals, some of the stats, and just get underneath the hood of why Central Florida is making so much sense, and just some of the rising stars that we're seeing there that we're very excited to be a part of.   Keith Weinhold  47:13   You've helped our listeners for close to 10 years now. It's been an informative chat as always. Thanks so much for coming back onto the show.    Jim Sheils  47:21   Thanks for having me, Keith.   Keith Weinhold  47:27   Yeah, like our guest touched on Ocala, Florida now has national recognition as the fastest growing city in America, and that's for the second year in a row. According to a new U haul report, Florida is, of course, a rather landlord friendly state. In fact, Florida is the first state to enact a law that allows law enforcement to immediately remove squatters, distinguishing them from legal tenants. Now here's what's interesting and why I've identified this opportunity if Florida prices dipped because people were leaving now, that could be a red flag, because population loss is like gravity. Once it starts falling, it is hard to escape. But that's not what's happening. Instead, what we're seeing is a temporary overbuild hangover. Builders got ambitious. We're in a brief period where supply outran demand and prices softened. That's not decay. That's a sale rack. Any vacant homes are not stranded. They're being absorbed by Florida's still growing population, which has now increased every single decade since its first census count, back in the year 1830 back in 1830 there were about 35,000 residents in the whole state. Isn't that amazing today? North of 24 million, that is 700x population growth in almost 200 years, and it's still growing. That kind of trend doesn't reverse because a few builders over ordered inventory here at GRE this made us target and find in opportunity. This isn't an accident. Central Florida is this year's most compelling. Housing market in that region, Central Florida, is growing faster than the rest of the state at large, and it really sits in the sweet spot of this temporary imbalance. One long established builder overbuilt and now they're motivated. They know what investors want. So, for example, they don't build swimming pools with their homes. They also offer property tours, and over 90% of their tour attendees buy property. They're willing to offer terrific incentives at our upcoming GRE live webinar, like we touched on new build single family rentals, 270k and up duplexes, three. 95 to 420, long term mortgage rates as low as 3.75% you get low insurance rates since they're inland and new build positive cash flow and a builder warranty at the event. You're going to learn all about the growth drivers in Central Florida, why so many renters are moving there and see available properties. This benefits anyone looking for a clear, practical view of current real estate conditions. Joining live does matter, since you can have those questions answered in real time, not after the opportunity has moved on, you are invited for next Thursday, the 19th, at 8p m Eastern. This one is worth circling, not because it's flashy, because it's timed right. Sign up is open now @grewebinars.com that's gre webinars.com. Until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 5  51:00   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, exclusively.   Keith Weinhold  51:29   The preceding program was brought to you by your home for wealth, building, get richeducation.com  

National Economic Council Director Kevin Hassett discusses America's economic trajectory, including the jobs market and productivity, inflation, and President Trump's pick for new Fed chair, Kevin Warsh. Direct-to-consumer telehealth Hims & Hers made waves last month when it announced a cheaper, compounded obesity pill similar to Wegovy. Now, after the FDA warned against compounded GLP-1s, Hims & Hers is backing off. Former FDA Commissioner Dr. Scott Gottlieb discusses competition in obesity drugs, Novo Nordisk's lawsuit against Hims & Hers, and the importance of vaccines. Plus, the pharma and AI ads at Super Bowl LX, Japanese Prime Minister Sanae Takaichi secured a supermajority in a snap election, and CNBC's Emily Wilkins reports on the legislative efforts to address the U.S. housing affordability crisis. Emily Wilkins - 10:09Kevin Hassett - 19:21Dr. Scott Gottlieb - 30:10In this episode:Emily Wilkins, @emrwilkinsBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Send us a textKristen and Jen are joined by Guy Adami and Dan Nathan of CNBC's Fast Money for the fifth installment of "He Said, She Said." The conversation kicks off with the so-called "SaaS Apocalypse" — the brutal selloff across software stocks — and unpacks how the market narrative shifted in just one week from "when will AI spending pay off?" to "what happens when AI destroys your core business?" The group debates whether the repricing is justified or overdone, digs into the credit market spillover with $17.7 billion in SaaS-related loans hitting distressed levels, and discusses what it all means for private credit exposure.From there, the panel takes on Bitcoin's collapse to $60,000 — roughly half its all-time high — and asks whether the "digital gold" thesis is officially dead now that crypto fell apart while precious metals hit records. They also break down the equity rotation into financials and energy, the irony of banks rallying on AI-driven deal flow while AI-adjacent companies crater, and what enterprise adoption of AI could mean for the hyperscalers longer term.The episode wraps with a look at Elon Musk's latest consolidation play, SpaceX acquiring xAI ahead of a rumored mega-IPO, and a macro check-in covering weak seasonals, a deteriorating jobs picture, rising 10-year yields, and the historical pattern of markets testing every new Fed chair.For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

In this episode of Excess Returns, we sit down with Bloomberg Opinion columnist Nir Kaissar for a wide-ranging conversation on markets, AI, interest rates, private credit, small caps, and the risks investors may be underestimating. Nir shares his unexpected predictions for 2026, challenges the consensus on Fed rate cuts, explains why high profitability may be putting a floor under valuations, and offers a thoughtful framework for thinking about AI, concentration risk, and the future of public versus private markets. This is a deep dive into today's most important investing debates, grounded in history and focused on what may come next.Topics CoveredNir's unexpected predictions for 2026 and why mass adoption of autonomous vehicles may arrive faster than investors expectWhy the consensus on lower interest rates in 2026 may be wrong and what the two year Treasury yield is signalingThe impact of tariffs, affordability pressures, and corporate margins on inflationWhy high corporate profitability may support elevated stock market valuations even if returns slowThe role of earnings growth in driving S&P 500 returns and why 2015 to 2024 may not repeatIs AI more like 1995 or 1999 in the internet cycle and what that means for long term investorsThe convergence of big tech companies around AI and the risks of a more zero sum competitive landscapeWhy companies staying private longer could hurt retail investors and distort public market indicesConcentration risk in the S&P 500 and what it means for long term portfolio constructionOpportunities and risks in small cap stocks, including the importance of quality screensThe growth of private credit markets and the hidden risks investors may not seeWhy Treasuries may still be the cleanest shirt in the laundry during a crisisLessons from 20 years of running strategies and what Nir has changed his mind aboutTimestamps00:00 Nir's 2026 predictions and the rise of Waymo05:00 Interest rates, Trump, and the outlook for Fed policy08:40 Tariffs, inflation, and corporate margins12:00 Valuations, profitability, and future S&P 500 returns16:00 AI compared to the internet era and long term investing lessons19:00 Public versus private markets and regulatory concerns32:00 Concentration risk and the Magnificent Seven39:00 Small caps, quality screens, and value opportunities47:00 Private credit risks and default cycles54:30 Nir's investment philosophy and 20 year lessons

Economic policy affects more than just spreadsheets. When leaders fail to control spending, undermine markets, or delay hard decisions, families feel it through higher prices, fewer opportunities, and slower growth. With rising concerns about affordability, the consequences of poor economic policy aren't abstract — they shape how people live, work, and plan for the future. Price controls, restrictive immigration policies, and higher taxes don't solve these problems. They make them worse.In the episode of This Week's Economy, we examine what happens when policymakers ignore first principles. I break down why recurring shutdowns expose deeper budgeting failures, how states are approaching tax relief and economic freedom, what a new pick for Fed chair could mean for inflation and stability, and why labor shortages and immigration policy matter for long-term growth. Across each issue, the lesson is the same: prosperity follows discipline, sound incentives, and trust in markets — not political shortcuts.Catch the full episode on YouTube, Apple Podcast, or Spotify, and visit my website at vanceginn.com for show notes and more information about my work at Ginn Economic Consulting.

Everybody was screaming “gold is done”… and I got on Twitter and said the opposite: this is the perfect day to BUY gold. Not trade it. BUY it. Because while the internet arguing about who the next Fed chair might be, the real story is simple: the dollar is still under pressure, the world is still unstable, and money always runs to safety when the chessboard gets messy. I'm breaking down why gold popped right after the hate, how to stop letting red days make you invent “scuba diving” price targets, and the one question you MUST ask before you sell anything: “Has the reason I bought it changed… or am I just emotional?” We're also talking Bitcoin's pressure, Strategy buying more BTC while price drops, why the IMF is stress-testing a dollar crack, and why China is bold enough to even ask the world: “Should the yuan be the next reserve currency?” This is how you stop reacting and start moving like you got a plan.Horizon Trust - Keep More. Retire BIGGER

Let's talk about Trump's Fed moves potentially backfiring in the most hilarious of ways....

Today, we are joined by Rob Carver to unpack one of the most volatile weeks seen in commodity markets in years. The conversation centers on silver's sharp rise and sudden collapse, using it as a case study in volatility targeting, liquidity risk, and disciplined position sizing. From Freaky Friday to broader dislocations across assets, they examine why systematic risk management matters when markets move faster than narratives. The discussion expands into diversification, correlation assumptions, alternative markets, and new research on trend portfolio construction, offering a grounded reminder that survival often matters more than precision.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Rob on Twitter.Episode TimeStamps:00:00 - Introduction to the Systematic Investor Series03:56 - Freaky Friday in precious metals04:29 - How Rob trades silver in a volatility adjusted framework10:25 - When volatility forces position reduction12:38 - Liquidity myths in hot commodity markets16:25 - Risk management lessons from silver's collapse22:28 - Dislocations across assets beyond metals24:54 - Fed chair speculation and muted market reactions31:33 - Discretionary versus systematic decision making34:03 - Trend barometer and market breadth update37:34 - Estimating portfolio correlation from PnL41:18 - Correlation versus volatility predictability45:13 - MAN Group paper...

Feb 6, 2026 – Chris Puplava, Chief Investment Officer at Financial Sense Wealth Management, analyzes the recent tech sector sell-off, the disruptive impact of AI advancements like Claude Legal, and the broader market implications for investors...

Feb 6, 2026 – Jim Puplava and Asbury Research's John Kosar break down the evolving stock market landscape—from the Dow's record highs and sector shifts to the underperformance of Big Tech. Kosar reveals how market internals, like the drop...

#687: Your tax refund might be $300 to $1,000 bigger this year, and that's just the beginning of what's changing with your money. The Tax Foundation estimates most Americans will see significantly larger refunds thanks to seven major tax cuts. The child tax credit increased by $200. The standard deduction jumped by $750 for individuals or $1,500 for couples. The state and local tax deduction cap now sits at $40,000. Seniors get an extra $6,000 deduction, and deductions for auto loan interest, tips, and overtime work all increased. Retirement accounts saw major changes too. Catch-up contributions for high earners now must go into Roth accounts, which pushed thousands of employers to add Roth options to their 401k plans between 2024 and 2026. Kevin Warsh, the new Fed chair nominee, thinks the Federal Reserve has been doing it all wrong. The former Fed governor and Wall Street banker believes the Fed focuses too much on backward-looking data and reacts too slowly. He wants strategic, forward-thinking policy instead of chasing lagging indicators. President Trump clarified he never asked Warsh to lower interest rates and wanted to "keep it pure." The labor market shows serious cracks. Job openings dropped by nearly one million year over year to 6.5 million. Unemployment claims jumped to 231,000 last week. January layoffs hit 108,435 people — up 118 percent from last year and the worst January since 2009 during the Great Recession. Big Tech continues its massive AI spending spree. Microsoft, Amazon, Google, Meta, and Oracle will collectively spend over $500 billion on AI infrastructure this year. Google's spending alone doubled from 2025, reaching up to $185 billion focused on data centers and Gemini development. Learn more about your ad choices. Visit podcastchoices.com/adchoices

-- On the Show -- Josh Gay from Ring of Fire fills in for David. Check out his work at https://www.youtube.com/@TheRingofFire -- Donald Trump hijacks the National Prayer Breakfast to rant about attacks, oil, and himself, exposing how hollow and weaponized his relationship with religion really is -- HHS Secretary Robert F. Kennedy Jr. promotes keto as a cure for serious mental illness, blending real critiques of food and pharma with dangerous pseudoscience that could get people hurt -- Donald Trump's late-night Truth Social meltdown pushes election lies alongside an openly racist meme targeting the Obamas, portraying them as monkeys -- Doanld Trump allegedly froze a $16 billion transit project unless it was renamed after him, showing how vanity and insecurity now outweigh jobs, infrastructure, and the public good -- Crypto is crashing as Trump's volatility, tariff chaos, Fed meddling, and self-serving crypto schemes rattle markets and destroy investor confidence -- Layoffs just hit their highest January level since 2009 as AI cuts accelerate, markets slide, and Trump downplays the damage while delaying and attacking job data -- The Clintons are daring Republicans to make Epstein hearings public, betting that sworn testimony would expose Trump and other powerful figures far more than it damages them -- On the Bonus Show: Mike Lindell's campaign is buying tons of copies of his own book, the Washington Post cuts hundreds of jobs, reactions from Josh's first day guest hosting, and much more...

Our Global Head of Fixed Income Research Andrew Sheets and Global Chief Economist Seth Carpenter unpack the inner workings of the Federal Reserve to illustrate the challenges that Fed chair nominee Kevin Warsh may face.Read more insights from Morgan Stanley.----- Transcript ----- Andrew Sheets: Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Fixed Income Research at Morgan Stanley. Seth Carpenter: And I'm Seth Carpenter, Morgan Stanley's Global Chief Economist and Head of Macro Research. Andrew Sheets: And today on the podcast, a further discussion of a new Fed chair and the challenges they may face. It's Friday, February 6th at 1 pm in New York. Seth, it's great to be here talking with you, and I really want to continue a conversation that listeners have been hearing on this podcast over this week about a new nominee to chair the Federal Reserve: Kevin Warsh. And you are the perfect person to talk about this, not just because you lead our economic research and our macro research, but you've also worked at the Fed. You've seen the inner workings of this organization and what a new Fed chair is going to have to deal with. So, maybe just for some broad framing, when you saw this announcement come out, what were some of the first things to go through your mind? Seth Carpenter: I will say first and foremost, Kevin Warsh's name was one of the names that had regularly come up when the White House was providing names of people they were considering in lots of news cycles. So, I think the first thing that's critically important from my perspective, is – not a shock, right? Sort of a known quantity. Second, when we think about these really important positions, there's a whole range of possible outcomes. And I would've said that of the four names that were in the final set of four that we kept hearing about in the news a lot. You know, some differences here and there across them, but none of them was substantially outside of what I would think of as mainstream sort of thinking. Nothing excessively unorthodox at all like that. So, in that regard as well, I think it should keep anybody from jumping to any big conclusions that there's a huge change that's imminent. I think the other thing that's really important is the monetary policy of the Federal Reserve really is made by a committee. The Federal Open Market Committee and committee matters in these cases. The Fed has been under lots of scrutiny, under lots of pressure, depending on how you want to put it. And so, as a result, there's a lot of discussion within the institution about their independence, making sure they stick very scrupulously to their congressionally given mandate of stable prices, full employment. And so, what does that mean in practice? That means in practice, to get a substantially different outcome from what the committee would've done otherwise… So, the market is pricing; what's the market pricing for the funds rate at the end of this year? About 3.2 percent. Andrew Sheets: Something like that. Yeah. Seth Carpenter: Yeah. So that's a reasonable forecast. It's not too far away from our house view. For us to end up with a policy rate that's substantially away from that – call it 1 percentage, 2 percentage points away from that. I just don't see that as likely to happen. Because the committee can be led, can be swayed by the chair, but not to the tune of 1 or 2 percentage points. And so, I think for all those reasons, there wasn't that much surprise and there wasn't, for me, a big reason to fully reevaluate where we think the Fed's going. Andrew Sheets: So let me actually dig into that a little bit more because I know our listeners tune in every day to hear a lot about government meetings. But this is a case where that really matters because I think there can sometimes be a misperception around the power of this position. And it's both one of the most public important positions in the world of finance. And yet, as you mentioned, it is overseeing a committee where the majority matters. And so, can you take us just a little bit inside those discussions? I mean, how does the Fed Chair interact with their colleagues? How do they try to convince them and persuade them to take a particular course of action? Seth Carpenter: Great question. And you're right, I sort of spent a bunch of time there at the Fed. I started when Greenspan was chair. I worked under the Bernanke Fed. And of course, for the end of that, Janet Yellen was the vice chair. So, I've worked with her. Jay Powell was on the committee the whole time. So, the cast of characters quite familiar and the process is important. So, I would say a few things. The chair convenes the meetings; the chair creates the agenda for the meeting. The chair directs the staff on what the policy documents are that the committee is going to get. So, there's a huge amount of influence, let's say, there. But in order to actually get a specific outcome, there really is a vote. And we only have to look back a couple weeks to the last FOMC meeting when there were two dissents against the policy decision. So, dissents are not super common. They don't happen at every single meeting, but they're not unheard of by any stretch of the imagination either. And if we go back over the past few years, lots going on with inflation and how the economy was going was uncertain. Chair Powell took some dissents. If we go back to the financial crisis Chair Bernanke took a bunch of dissents. If we go back even further through time, Paul Volcker, when he was there trying to staunch the flow of the high inflation of the 1970s, faced a lot of resistance within his committee. And reportedly threatened to quit if he couldn't get his way. And had to be very aggressive in trying to bring the committee along. So, the chair has to find a way to bring the committee along with the plan that the chair wants to execute. Lots of tools at their disposal, but not endless power or influence. Does that make sense? Andrew Sheets: That makes complete sense. So, maybe my final question, Seth, is this is a tough job. This is a tough job in… Seth Carpenter: You mean your job and my job, or… Andrew Sheets: [Laughs] Not at all. The chair of the Fed. And it seems especially tricky now. You know, inflation is above the Fed's target. Interest rates are still elevated. You know, certainly mortgage rates are still higher than a lot of Americans are used to over the last several years. And asset prices are high. You know, the valuation of the equity market is high. The level of credit spreads is tight. So, you could say, well, financial conditions are already quite easy, which can create some complications. I am sure Kevin Warsh is receiving lots of advice from lots of different angles. But, you know, if you think about what you've seen from the Fed over the years, what would be your advice to a new Fed chair – and to navigate some of these challenges? Seth Carpenter: I think first and foremost, you are absolutely right. This is a tough job in the best of times, and we are in some of the most difficult and difficult to understand macroeconomic times right now. So, you noted interest rates being high, mortgage rates being high. There's very much an eye of the beholder phenomenon going on here. Now you're younger than I am. The first mortgage I had. It was eight and a half percent. Andrew Sheets: Hmm. Seth Carpenter: I bought a house in 2000 or something like that. So, by those standards, mortgage rates are actually quite low. So, it really comes down to a little bit of what you're used to. And I think that fact translates into lots of other places. So, inflation is now much higher than the committee's target. Call it 3 percent inflation instead core inflation on PCE, rather than 2 percent inflation target. Now, on the one hand that's clearly missing their target and the Fed has been missing their target for years. And we know that tariffs are pushing up inflation, at least for consumer goods. And Chair Powell and this committee have said they get that. They think that inflation will be temporary, and so they're going to look through that inflation. So again, there's a lot of judgment going on here. The labor market is quite weak. Andrew Sheets: Hmm. Seth Carpenter: We don't have the latest months worth of job market data because of the government shutdown; that'll be delayed by a few days. But we know that at the end of last year, non-farm payrolls were running well below 50,000. Under most circumstances, you would say that is a clear indication of a super weak economy. But! But if we look at aggregate spending data, GDP, private-domestic final purchases, consumer spending, CapEx spending. It's actually pretty solid right now. And so again, that sense of judgment; what's the signal you're going to look for? That's very, very difficult right now, and that's part of what the chair is going to have to do to try to bring the committee together, in order to come to a decision. So, one intellectually coherent argument is – the main way you could get strong aggregate demand, strong spending numbers, strong GDP numbers, but with pretty tepid labor force growth is if productivity is running higher and if productivity is going higher because of AI, for example, over time you could easily expect that to be disinflationary. And if it's disinflationary, then you can cut it. Interest rates now. Not worry as much as you would normally about high inflation. And so, the result could be a lower path for policy rates. So that's one version of the argument that I suspect you're going to hear. On the other hand, inflation is high and it's been high for years. So what does that mean? Well. History suggests that if inflation stays too high for too long, inflation psychology starts to change the way businesses start to set. Andrew Sheets: Mm-hmm. Seth Carpenter: Their own prices can get a little bit loosey-goosey. They might not have to worry as much about consumers being as picky because everybody's got used to these price changes. Consumers might be become less picky because, well, they're kind of sick of shopping around. They might be more willing to accept those higher prices, and that's how things snowball. So, I do think that the new chair is going to face a particularly difficult situation in leading a committee in particularly challenging times. But I've gone on for a long, long time there. And one of the things that I love about getting to talk to you, Andrew, is the fact that you also talked to lots of investors all around the world. You're based in London. And so when the topic of the new Fed chair comes up, what are the questions that you're getting from clients? Andrew Sheets: So, I think that there are a few questions that stand out. I mean, I think a dominant question among investors was around the stability of the U.S. dollar. And so, you could say a good development on the back of Kevin Warsh's nomination is that the market response to that has been the price action you would associate with more stability. You've seen the dollar rise; you've seen precious metals prices fall. You've seen equity markets and credit spreads be very stable. So, I think so far everything in the market reaction is to your; to the point that you raised, you know, consistent with this still being orthodox policy. Every Fed chair is different, but still more similar than different now. I think where it gets more divergent in client opinions is just – what are we going to see from the Fed? Are we going to see a real big change in policy? And I think that this is where there are very different views of Kevin Warsh from investors. Some who say, ‘Well, he's in the past talked about fighting inflation more aggressively, which would imply tighter policy.' And he's also talked more recently about the productivity gains from AI and how that might support lower interest rates. So, I think that there's going to be a lot of interest when he starts to speak publicly, when we see testimony in front of the Senate. I think the other, the final piece, which I think again, people do not have as fully formed an opinion on yet is – how does he lead the Fed if the data is unexpected? And you know, you mentioned inflation and, you know, Morgan Stanley has this forecast that: Well, owner's equivalent rent, a really key part of inflation, might be a little bit higher than expected, which might be a distortion coming off of the government shutdown and impacts on data. But there's some real uncertainty about the inflation path over the near term. And so, in short, I think investors are going to give the benefit of the doubt. For now, I think they're going to lean more into this idea that it will be generally consistent with the Fed easing policy over time, for now. Generally consistent with a steeper curve for now. But I think there's a lot we're going to find out over the next couple of weeks and months. Seth Carpenter: Yeah. No, I agree with you. Andrew, I have to say, I'm glad you're here in New York. It's always great to sit down and talk to you. Let's do it again before too long. Andrew Sheets: Absolutely, Seth. Thanks for taking the time to talk. And to our audience, thank you as always for your time. If you find Thoughts the Market useful, let us know by leaving a review wherever you listen. And also tell a friend or colleague about us today.

President Trump's “clamoring for the Federal Reserve to lower interest rates” may finally pay off later this year when Kevin Warsh takes over as the new Fed chair.  Trump “shouldn't have to wait that long,” however, because his appeal to the Fed has been “on the grounds that inflation is much lower than what's being officially reported,” explains E.J. Antoni, Ph.D., The Heritage Foundation's chief economist.  “ It turns out Trump is spot on with today's real inflation rate being only one-third the official metrics. In fact, these numbers come from the real-time price aggregator Truflation which monitors millions of prices every single day. That is orders of magnitude more than the Bureau of Labor Statistics, or BLS, which only observes a few thousand prices just three times per month.” (00:00) Trump's Push for Lower Interest Rates (01:49) Understanding Real Inflation Rates (03:40) Comparing Truflation and CPI (06:26) Housing Costs and Inflation Metrics (09:02) The Impact of Lower Interest Rates (09:38) Conclusion and Next Steps

Today's Post - https://bahnsen.co/4rzbhrg In this episode of the Dividend Cafe, host David Bahnsen discusses the recent appointment of Kevin Warsh as the new Federal Reserve Chairman by President Donald Trump. Bahnsen explores the implications of this decision on monetary policy, sharing his optimistic view of Warsh's potential impact. He delves into Warsh's background, his stance on key economic issues, and the anticipated effects of his policies on markets and investment strategies. Bahnsen underlines the significance of Warsh's experience, his reformist mindset, and how his pragmatic approach could lead to a reduction in the Federal Reserve's footprint in the economy. 00:00 Introduction to Dividend Cafe 00:19 Kevin Warsh's Appointment as Fed Chair 03:42 Why Kevin Warsh is a Good Pick 05:06 Kevin Warsh's Monetary Policy Views 08:01 Implications for Interest Rates and QE 12:51 Market Signals and Fed Policy 18:19 Privatization of the Fed's Balance Sheet 24:16 Conclusion and Final Thoughts Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

On today's show we look at HDTV Display Technologies that are no longer with us. Some had a short run and some never made it to the market. We also read your emails and take a look at the week's news. News: LG pulls the plug on 8K OLED and 8K LCD TVs Apple's home hub could finally arrive this spring with a rather unique design Roku is Testing a New Home Screen With A New Look Google Home update brings more automation controls HDTV Display Technologies That Are No Longer With Us Over the 21 years we have been doing the show we have seen numerous HDTV display technologies come and go. Some never made it to market and some had a good run but were eventually beat out by something better. These technologies competed during the transition from bulky CRTs to flat panels, but most lost out as LCD, later becoming LED-backlit LCD, then OLED, became dominant for reasons like cost, scalability, picture quality improvements, and manufacturing ease. Technologies That Were Proposed/Demonstrated but Never Commercially Released to Consumers SED (Surface-Conduction Electron-Emitter Display)Developed primarily by a Canon and Toshiba joint venture starting in the late 1990s/early 2000s. It was essentially a flat-panel evolution of CRT technology using electron emitters for each pixel, promising CRT-like motion handling, deep blacks, high contrast, fast response times, and low power in a slim form factor. Prototypes were shown around 2005–2007 with impressive demos. Why it didn't make it: Repeated delays due to manufacturing challenges (high production costs, difficulty scaling/vacuum sealing), patent disputes, and aggressive price drops in LCD/plasma panels. Then by 2009–2010, LCD had become too dominant and cheap; Canon officially froze consumer SED development in 2010, shifting any remaining efforts to niche professional uses. FED (Field-Emission Display)Similar to SED and sometimes grouped together or seen as a precursor/variant. FED used field-emission electron sources (like microtips) for CRT-style performance in a flat panel. Demonstrated in prototypes in the 2000s by companies like Sony and Motorola. Why it didn't make it: Development took too long; manufacturing complexity and yield issues made it unviable. It was overtaken by faster-scaling plasma and then LCD/OLED technologies before reaching mass production. Technologies That Reached the Market but Were Discontinued DLP (Digital Light Processing) Rear-Projection TVsUsed Texas Instruments' DMD (digital micromirror device) chips to reflect light, often with a color wheel for sequential color (or pricier 3-chip versions). Popular in the mid-2000s for large-screen (50–70+ inch) HDTVs from brands like Samsung, Mitsubishi, RCA, and Toshiba, offering good brightness, no burn-in, and sharp images at competitive prices. Why discontinued: Bulky depth (even if thinner than CRT rear-projection), lamp replacements needed, rainbow artifacts (on single-chip models), poor off-angle viewing, and vulnerability to ambient light. As flat-panel LCD and plasma prices fell dramatically in the late 2000s, consumers preferred slim, wall-mountable designs. Rear-projection DLP TVs largely vanished by around 2010. LCOS (Liquid Crystal on Silicon) / Variants like D-ILA (JVC) and SXRD (Sony)A reflective microdisplay tech using liquid crystals on a silicon backplane, often in rear-projection or some front-projection setups. Offered excellent contrast, deep blacks, and smooth motion (better than early LCDs). Available in HDTVs from JVC, Sony, and others in the mid-2000s. Why largely discontinued for direct-view TVs: High cost, manufacturing complexity, and lower brightness compared to emerging flat panels. Rear-projection versions suffered the same bulkiness issues as DLP. While LCOS survives today in high-end projectors mostly in JVC and Sony home theater models, it never scaled to mainstream direct-view flat-panel HDTVs and was eclipsed by LCD advancements. Plasma Display Panel (PDP / Plasma TVs)Used ionized gas (plasma) cells to create light, excelling in black levels, contrast, color accuracy, wide viewing angles, and no motion blur. Very popular for HDTV in the 2000s from Panasonic, Pioneer, Samsung, and LG. Why discontinued: High power consumption, heat generation, heavier panels, burn-in risk (though mitigated later), and difficulty scaling to 4K efficiently/cost-effectively. As LCD/LED prices dropped with better brightness, efficiency, and no burn-in, plasma couldn't compete economically. Production fully ended around 2014–2015. Other Notable Mentions LCD Rear-Projection TVs — Used transmissive LCD panels; suffered from similar bulk and light issues as DLP; discontinued early-mid 2000s. Direct-view CRT HDTVs — The original standard; fully discontinued by the late 2000s/early 2010s due to size, weight, and inefficiency. Key Reasons Technologies Fail in HDTV Market Regardless of how good a display technology is, the following will keep it from the mass market: Cost & Manufacturing Yield: Technologies requiring ultra-precise processes (SED, FED, LCoS) couldn't hit competitive prices.  Competing Technologies Improve Fast: LCD and later LED/OLED got cheaper and better quicker than rivals could scale. Form Factor Shift: Direct-view panels beat rear-projection (DLP, LCoS, laser) because consumers prefer thin TVs. Performance Tradeoffs: Issues like power use, burn-in, brightness, viewing angles, or reliability hurt consumer uptake.  In summary, the winners were technologies that scaled cheaply to larger sizes, became thinner/lighter, improved efficiency, and avoided major drawbacks like high costs or reliability issues. LCD/LED dominated the 2010s due to mass production advantages, while OLED took premium segments later for superior contrast/per-pixel lighting. Many promising "next-gen" ideas from the 2000s (like SED/FED) simply arrived too late or proved too hard to manufacture affordably.

Feb 6, 2026 – What just happened to silver? After a historic crash wiped out billions, is the bull market already over? In this critical interview, Jim Puplava sits down with The Morgan Report's Dave Morgan to dissect the violent sell-off and its stunning aftermath....

Feb 3, 2026 – Are the tides turning for tech and global markets? FS Insider's Cris Sheridan and Sevens Report founder Tom Essaye dive into 2026's major market rotations, from the shifting fortunes of big tech and AI to the explosive...

Book a call: https://remnantfinance.com/calendar ! Out Print the Fed with 1% per week: https://remnantfinance.com/optionsEmail us at info@remnantfinance.com or visit https://remnantfinance.com for more informationFOLLOW REMNANT FINANCEYoutube: @RemnantFinance (https://www.youtube.com/@RemnantFinance )Facebook: @remnantfinance (https://www.facebook.com/profile.php?id=61560694316588 )Twitter: @remnantfinance (https://x.com/remnantfinance )TikTok: @RemnantFinanceDon't forget to hit LIKE and SUBSCRIBEThis episode dismantles the top seven objections one by one. We're answering them directly and showing why most criticisms reveal a fundamental misunderstanding of what whole life insurance actually is. If you've ever hesitated to explore IBC because something you read online gave you pause, this is the episode for you.Chapters: 00:00 – Opening segment 07:40 – Objection 1: Whole life is a terrible investment 15:45 – Objection 2: The rate of return is terrible 26:35 – Objection 3: You don't break even for years 34:45 – Objections 4 & 5: Why pay interest to borrow my own money? 45:25 – Objection 6: Agents make huge commissions 57:50 – Objection 7: This only works if you're rich 1:02:05 – Closing segmentKey Takeaways:It's not an investment—it's savings. Whole life has no risk of loss, which by definition means it's not an investment. It's a savings vehicle with guarantees, privacy, and a death benefit. Stop comparing it to the S&P 500.Rate of return isn't the only metric. The best-performing asset changes depending on your timeframe. Chasing returns is how people buy high and sell low. Wealthy investors prioritize control, understanding, and risk management before rate of return.Policy loans aren't "borrowing your own money." You're borrowing the insurance company's money, collateralized by your cash value. Your money keeps compounding. That's the entire point.Commissions aren't the gotcha people think. If agents wanted easy money, they'd get a securities license and collect 1% AUM fees for life. Whole life is harder to sell and pays less over time than traditional financial advising.Is Infinite Banking a scam? If you've spent five minutes researching IBC online, you've seen the accusations. These objections are everywhere—YouTube comments, Reddit threads, Dave Ramsey clips. They sound convincing. They're also wrong.

White House removes a video shared by President Donald Trump that included images showing former President Barack Obama and former first lady Michelle Obama as apes, after Republican and Democratic lawmakers denounced the posting as "racist" and "offensive"; Attorney General Pam Bondi announces the arrest of a suspect in the 2012 terrorist attack on the U.S. Embassy in Benghazi, Libya that killed four Americans; U.S. holds indirect talks with Iran in Oman, but no major breakthroughs announced; Federal Reserve Vice Chair Philip Jefferson says is "cautiously optimistic" about the 2026 economic outlook, expects growth to stay slightly above recent trends, the labor market to stabilize and inflation heading back down to the Fed's 2% target; On Wall Street, Dow jumps 1,000 points to close about 50,000 for the first time; Democrats in New Jersey call out President Trump for holding up billions of dollars for the Gateway Tunnel transit project, reportedly because Democrats did not agree to name Penn Station in NYC and Dulles Airport in Virginia after him; former House Speaker Kevin McCarthy (R-CA) speaks at a Ronald Reagan 115th birthday celebration in California about Reaganomics; Vice President JD Vance meets with the Italian Prime Minister Giorgia Meloni ahead of the Winter Olympics opening ceremony; Maryland's Senate takes an official on who will win Sunday's Super Bowl. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Reinking, Senior Market Strategist at the NYSE, recaps a volatile week marked by Fed uncertainty and sharp unwinds in speculative trades. Kevin Warsh's nomination for Fed Chair helped trigger reversals in precious metals and added to broader market turbulence. Crypto and high‑momentum themes sold off, while software stocks faced a “SAAS‑Pocalypse” amid new AI‑driven disruption concerns. Still, major indices held relatively steady with pockets of strength in small and mid‑caps. Attention now shifts to retail sales, the delayed jobs report, and CPI.

In this bonus episode of The Canadian Investor Podcast, Simon Belanger and Dan Kent break down the market turbulence driving major moves in gold and silver, and discuss why the Fed is “trapped” regardless of who replaces Jerome Powell—using the Kevin Warsh chatter as a jumping-off point for fiscal dominance, bond demand, and what it all means for risk assets. They also run through earnings and capital allocation decisions from Canada’s rail giants, dig into PayPal’s latest stumble, and close with a surprisingly strong quarter from Apple. Tickers of stocks discussed: CP.TO, CNR.TO, PYPL, AAPL Watch the full video on Our New Youtube Channel! Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Dan’s Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor Spotify - The Canadian Real Estate Investor Web player - The Canadian Real Estate Investor Asset Allocation ETFs | BMO Global Asset Management Sign up for Fiscal.ai for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

We are excited to welcome Joe Davis for this episode, currently Vanguard's Global Chief Economist and Global Head of the Investment Strategy Group. Many of you likely know various iterations of the Vanguard story, but most of the professionals I know do not know how big a research team they have.  Joe has a big influence on the company because he is also chairs the firm's Strategic Asset Allocation Committee. Ok, that was exhausting listing all of his titles, he is a busy person. Before that, he was still busy; he earned his M.A. and Ph.D at Duke University and is a graduate of the Advanced Management Program at the Wharton School of U Penn. Joe is a frequent keynote speaker and currently serves on the editorial boards of the Journal of Portfolio Management and the Journal of Fixed Income. In this episode, we are all over the place (which is normal), ranging from Vanguard's 50+ year history as a disruptor, to how many CFA charter holders are at Vanguard now (hint: a lot), their vast and under the radar research group, new CEO Salim Ramji, patents that Vanguard created in ETF space, the breakdown of active vs. passive funds in their lineup (which surprises many) and Joe's new book on AI. This was a great segue into the markets, with the impact of AI, Fed independence being potentially disrupted, a new multi-polar world, expected returns, potential market scenarios, and more. Today's hosts are Steve Curley, CFA (Co-Managing Principal, 55 North Private Wealth) & co-host Chris Cannon, CFA (CIO/Principal, FirsTrust). Please enjoy the episode. You can follow us on Twitter & LinkedIn or at investorsfirstpodcast.com

In this episode of Mining Stock Daily, Barry Knapp of Ironsides Macroeconomics examines how the nomination of Kevin Warsh as Fed Chair serves as a strategic move to stabilize federal debt and address years of balance sheet distortion,. Knapp provides a scathing critique of past Quantitative Easing (QE) programs, arguing they facilitated counterproductive fiscal policy and created a "K-shaped economy" by driving capital into stock buybacks rather than productive investment. The discussion delves into the fiscal theory of the price level, suggesting that inflation is rooted in government spending shocks and that the Fed must now work to privatize its balance sheet to restore market discipline. Listeners will gain insights into the structural shift in global capital, where the orderly decline of the dollar and China's move away from Treasuries are fueling a long-term secular bull market in gold. Finally, the conversation highlights the necessity of bank deregulation to increase the velocity of money, ensuring the financial system can fund the massive infrastructure requirements of AI and domestic manufacturing reshoring.This episode of Mining Stock Daily is brought to you by... Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠revival-dash-gold.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vizsla Silver is focused on becoming one of the world's largest single-asset silver producers through the exploration and development of the 100% owned Panuco-Copala silver-gold district in Sinaloa, Mexico. The company consolidated this historic district in 2019 and has now completed over 325,000 meters of drilling. The company has the world's largest, undeveloped high-grade silver resource. Learn more at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠https://vizslasilvercorp.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Equinox has recently completed the business combination with Calibre Mining to create an Americas-focused diversified gold producer with a portfolio of mines in five countries, anchored by two high-profile, long-life Canadian gold mines, Greenstone and Valentine. Learn more about the business and its operations at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠equinoxgold.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Integra Resources is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho, and the Nevada North Project located in western Nevada. Learn more about the business and their high industry standards over at integraresources.com

Back with my partners at Harvest ETFs and in this episode, we sit down with James Learmonth, Co-Chief Investment Officer of Harvest ETFs for a great conversation about the U.S market, Fed and what it takes to make smart, long-term decisions in the space. This video presentation is sponsored by Harvest ETFs. Nathan Kennedy is compensated under this arrangement by Harvest ETFs. Please watch the video for the full disclaimer.

President Trump has nominated former Fed Governor Kevin Warsh to succeed Jerome Powell as Fed Chair later this year. Warsh called for “regime change” at the Fed last year, reiterating his long-held criticism of the Fed's large balance sheet, data-dependence, and use of forward guidance. His tenure would begin with an already-divided FOMC and lingering worries surrounding threats to the Fed's political independence. In this episode, we talk with George Pearkes, Macro Strategist with Bespoke Investment Group, about what Kevin Warsh brings to the Fed and how his leadership could drive monetary policy in the years ahead.

The Situation Report for February 5, 2026. The DOJ releases millions of new Epstein documents exposing elite connections, Iran escalates regional threats while massacring protesters at home, and investigators uncover a massive Medicare hospice fraud scheme ripping off seniors in Los Angeles. All this and much more in just ten minutes.   The Department of Justice releases another massive tranche of the Epstein Files   Iran Ramps up Regional Threats as Accounts of Regime Violence Emerge   Los Angeles hospice fraud reaches billions as Medicare providers scam the federal system with fake companies   Medical Experts Come Out Against Gender Transition Surgeries for Children   NASA moves Artemis II Mission to March 2026 After Test-Run Issue   Media Bias Alert: The mainstream coverage on Alex Pretti and ICE   The Clintons agree to appear before the House Oversight Committee   A new Fed chairman   Hey Billie Eilish, what were you saying about "stolen land?"   Read of the week: "Gold Standard" by Michael D. Bordo

Newt talks with Thomas Hoenig, a former Federal Reserve official and Distinguished Senior Fellow at the Mercatus Center, about the nomination of Kevin Warsh as the new Chairman of the Federal Reserve. President Trump’s decision has sparked discussion on Warsh's economic policies. Warsh, known for his hawkish views, is concerned about national debt and quantitative easing, which may lead to tighter policies than President Trump desires. Hoenig believes Warsh is a good choice due to his understanding of markets and fiscal policies, although he will face pressure to implement rate cuts. The independence of the Federal Reserve is emphasized, with Warsh expected to maintain a balance between being friendly to the President and upholding the Fed's independence. His nomination has influenced market behavior, with significant drops in gold and silver prices, reflecting expectations of tighter monetary policy under Warsh. The political landscape is also affected, with discussions on the potential challenges Warsh might face in the Senate confirmation process and the implications of ongoing legal cases involving Federal Reserve officials. The role of the Federal Reserve in the economy is highlighted, with its policies significantly impacting inflation, interest rates, and overall economic stability.See omnystudio.com/listener for privacy information.

Our Global Head of Macro Strategy Matthew Hornbach and Chief U.S. Economist Michael Gapen discuss the path for U.S. interest rates after the nomination of Kevin Warsh for next Fed chair.Read more insights from Morgan Stanley.----- Transcript -----Matthew Hornbach: Welcome to Thoughts on the Market. I'm Matthew Hornbach, Global Head of Macro Strategy. Michael Gapen: And I'm Michael Gapen, Morgan Stanley's Chief U.S. Economist. Matthew Hornbach: Today we'll be talking about the Federal Open Market Committee meeting that occurred last week.It's Thursday, February 5th at 8:30 am in New York.So, Mike, last week we had the first Federal Open Market Committee meeting of 2026. What were your general impressions from the meeting? And how did it compare to what you had thought going in? Michael Gapen: Well, Matt, I think that the main question for markets was how hawkish a hold or how dovish a hold would this be. As you know, it was widely expected the Fed would be on hold. The incoming data had been fairly solid. Inflation wasn't all that concerning, and most of the employment data suggested things had stabilized. So, it was clear they were going to pause. The question was would they pause or would they be on pause, right? And in our view, it was more of a dovish hold. And by that, it suggests to us, or they suggested to us, I should say, that they still have an easing bias and rates should generally move lower over time. So, that really was the key takeaway for me. Would they signal a prolonged pause and perhaps suggest that they might be done with the easing cycle? Or would they say, yes, we've stopped for now, but we still expect to cut rates later? Perhaps when inflation comes down and therefore kind of retain a dovish bias or an easing bias in the policy rate path. So, to me, that was the main takeaway. Matthew Hornbach: Of course, as we all know, there are supposed to be some personnel changes on the committee this year. And Chair Powell was asked several questions to try to get at the future of this committee and what he himself was going to do personally. What was your impression of his response and what were the takeaways from that part of the press conference? Michael Gapen: Well, clearly, he's been reluctant to, say, pre-announce what he may do when his term is chair ends in May. But his term as a governor extends into 2028. So, he has options. He could leave normally that's what happens. But he could also stay and he's never really made his intentions clear on that part. I think for maybe personal or professional reasons. But he has his own; he has his own reasons and, and that's fine. And I do think the recent subpoena by the DOJ has changed the calculus in that. At least my own view is that it makes it more likely that he stays around. It may be easier for him to act in response to that subpoena by being on staff. It's a request for additional information; he needs access to that information. I think you could construct a reasonable scenario under which, ‘Well, I have to see this through, therefore, I may stay around.' But maybe he hasn't come to that conclusion yet. And then stepping back, that just complicates the whole picture in the sense that we now know the administration has put forward Kevin Warsh as the new Fed chair. Will he be replacing the seat that Jay Powell currently sits in? Will he be replacing the seat that Stephen Myron is sitting in? So yes, we have a new name being put forward, but it's not exactly clear where that slot will be; and what the composition of the committee will look like. Matthew Hornbach: Well, you beat me to the punch on mentioning Kevin Warsh… Michael Gapen: I kind of assumed that's where you were going. Matthew Hornbach: It was going to be my next question. I'm curious as to what you think that means for Fed policy later this year, if anything. And what it might mean more medium term? Michael Gapen: Yeah. Well, first of all, congratulations to Mr. Warsh on the appointment. In terms of what we think it means for the outlook for the Fed's reaction function and interest rate policy, we doubt that there will be a material change in the Fed's reaction function. His previous public remarks don't suggest his views on interest rate policy are substantively outside the mainstream, or at least certainly the collective that's already in the FOMC. Some people would prefer not to ease. The majority of the committee still sees a couple more rate cuts ahead of them. Warsh is generally aligned with that, given his public remarks. But then also all the reserve bank presidents have been renominated. There's an ongoing Supreme Court case about the ability of the administration to fire Lisa Cook. If that is not successful, then Kevin Warsh will arrive in an FOMC where there's 16 other people who all get a say. So, the chair's primary responsibility is to build a consensus; to herd the cats, so to speak. To communicate to markets and communicate to the public. So, if Mr. Warsh wanted to deviate substantially from where the committee was, he would have to build a consensus to do that. So, we think, at least in the near term, the reaction function won't change. It'll be driven by the data, whether the labor market holds up, whether inflation, decelerates as expected. So, we don't look for material change. Now you also asked about the medium term. I do think where his views differ, at least with respect to current Fed policy is on the size of the Fed's balance sheet and its footprint in financial markets. So, he has argued over time for a much smaller balance sheet. He's called the Fed's balance sheet bloated. He has said that it creates distortions in markets, which mean interest rates could be higher than they otherwise would be. And so, I think if there is a substantive change in Fed policy going forward, it could be there on the balance sheet. But what I would just say on that is it'll likely take a lot of coordination with Treasury. It will likely take changes in rules, regulations, the supervisory landscape. Because if you want to reduce the balance sheet further without creating volatility in financial markets, you have to find a way to reduce bank demand for it. So, this will take time, it'll take study, it'll take patience. I wouldn't look for big material changes right out of the box. So Matt, what I'd like to do is, if I could flip it back to you, Warsh was certainly one of the expected candidates, right? So, his name is not a surprise. But as we knew financial markets, one day we're thinking it'd be one candidate. The next day it'd be thinking at the next it was somebody else. How did you see markets reacting to the announcement of Mr. Warsh? For the next Fed share, and then maybe put that in context of where markets were coming out of the last FOMC meeting. Matthew Hornbach: Yeah, so the markets that moved the most were not the traditional, very large macro markets like the interest rate marketplace or the foreign exchange market. The markets that moved the most were the prediction markets. These newer markets that offer investors the ability to wager on different outcomes for a whole variety of events around the world. But when it comes to the implications of a Kevin Warsh led Fed – for the bigger macro markets like interest rates and currencies, the question really comes down to how? If the Fed's balance sheet policies are going to take a while to implement, those are not going to have an immediate effect, at least not an effect that is easily seen with the human eye. But it's other types of policy change in terms of his communication policy, for example. One of the points that you raised in your recent note, Mike, was how Kevin Warsh favored less communication than perhaps some of the recent, Federal Open Market Committees had with the public. And so, if there is some kind of a retrenchment from the type of over-communication to the marketplace, from either committee members or non-voters that could create a bit more volatility in the marketplace. Of course, the Fed has been one of the central banks that does not like to surprise the markets in terms of its monetary policy making. And so, that contrasts with other central banks in the G10. For example, the Swiss National Bank tends to surprise quite a lot. The Reserve Bank of Australia tends to surprise markets. More often, certainly than the Fed does. So, to the extent that there's some change in communication strategy going forward that could lead to more volatile interest rate in currency markets. And that then could cause investors to demand more risk premium to invest in those markets. If you previously were comfortable owning a longer duration Treasury security because you felt very comfortable with the future path of Fed policy, then a Kevin Warsh led Fed – if it decides to change the communication strategy – could naturally lead investors to demand more risk premium in their investments. And that, of course, would lead to a steeper U.S. Treasury curve, all else equal. So that would be one of the main effects that I could see happen in markets as a result of some potential changes that the Fed may consider going forward. So, Mike, with that said, this was the first FOMC meeting of the year, and the next meeting arrives in March. I guess we'll just have to wait between now and then to see if the Fed is on hold for a longer period of time or whether or not the data convinced them to move as soon as the March meeting. Thanks for taking time to talk, Mike. Michael Gapen: Great speaking with you, Matt. Matthew Hornbach: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

President Trump talks Minneapolis, Joe Rogan, the Fed, AI and 2028 in a wide-ranging interview; Search for Nancy Guthrie enters fourth day. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Treasury Secretary Scott Bessent will be on Capitol Hill again today for another grilling. He's scheduled to appear before the Senate Banking Committee. Yesterday, Bessent appeared before the House Financial Services Committee to talk about oversight of the U.S. financial system, where he sparred with Democrats. And later in the program, wages are making up a shrinking share of overall income. Also: discussions of Fed independence, inflation, and more.

Treasury Secretary Scott Bessent will be on Capitol Hill again today for another grilling. He's scheduled to appear before the Senate Banking Committee. Yesterday, Bessent appeared before the House Financial Services Committee to talk about oversight of the U.S. financial system, where he sparred with Democrats. And later in the program, wages are making up a shrinking share of overall income. Also: discussions of Fed independence, inflation, and more.

Thursday, February 5, 2026 In this episode: Democrats threatened to block the Homeland Security funding bill unless Republicans accepted “dramatic changes” to ICE oversight and operations; Trump said Attorney General Pam Bondi ordered Director of National Intelligence Tulsi Gabbard to attend the FBI search of Fulton County, Georgia's elections center; the last nuclear arms control treaty between the U.S. and Russia expired; the Trump administration plans to reclassify about 50,000 senior career federal workers, making them easier to fire; U.S. job openings fell to about 6.5 million in December – the lowest since September 2020; Trump insisted that the Federal Reserve is “in theory” independent and that he wouldn't have nominated Kevin Warsh to be the next Fed chair if he wanted to raise interest rates. Read more: Day 1843: "Two things can be true." Newsletter: Get the daily edition of WTFJHT in your inbox Feedback? Let me know what you think AI Policy: My AI policy

Governor Kathy Hochul has selected Adrienne Adams as her running mate in this year's gubernatorial race. President Trump sat down for an interview with NBC News anchor Tom Llamas, which remained relatively neutral and avoided partisan leanings. Mark interviews economist Steve Moore. Steve discusses whether Republicans are being transparent about the state of the economy, especially as consumers continue to feel the impact of rising prices. Trump's new Fed pick, Kevin Warsh, may also face pressure to lower interest rates to 2%. President Trump has assigned the entire FBI team, including Kash Patel, to travel to Arizona in search of TV host Savannah Guthrie's mother. Yesterday, Democrats clashed with Treasury Secretary Scott Bessent as he testified before Congress regarding the economy. Mark interviews WOR weeknight host Jimmy Failla. Jimmy shares his plans for the upcoming Super Bowl weekend. Meanwhile, singer Billie Eilish is facing backlash after speaking out about recent ICE raids during the Grammys. Is Minnesota easing up on its criticisms of ICE agents? See omnystudio.com/listener for privacy information.

Steve discusses whether Republicans are being transparent about the state of the economy, especially as consumers continue to feel the impact of rising prices. Trump's new Fed pick, Kevin Warsh, may also face pressure to lower interest rates to 2%.See omnystudio.com/listener for privacy information.

Governor Kathy Hochul has selected Adrienne Adams as her running mate in this year's gubernatorial race. President Trump sat down for an interview with NBC News anchor Tom Llamas, which remained relatively neutral and avoided partisan leanings. Mark interviews economist Steve Moore. Steve discusses whether Republicans are being transparent about the state of the economy, especially as consumers continue to feel the impact of rising prices. Trump's new Fed pick, Kevin Warsh, may also face pressure to lower interest rates to 2%. President Trump has assigned the entire FBI team, including Kash Patel, to travel to Arizona in search of TV host Savannah Guthrie's mother. Yesterday, Democrats clashed with Treasury Secretary Scott Bessent as he testified before Congress regarding the economy. Mark interviews WOR weeknight host Jimmy Failla. Jimmy shares his plans for the upcoming Super Bowl weekend. Meanwhile, singer Billie Eilish is facing backlash after speaking out about recent ICE raids during the Grammys. Is Minnesota easing up on its criticisms of ICE agents?

Governor Kathy Hochul has selected Adrienne Adams as her running mate in this year's gubernatorial race. President Trump sat down for an interview with NBC News anchor Tom Llamas, which remained relatively neutral and avoided partisan leanings. Mark takes your calls! Mark interviews economist Steve Moore. Steve discusses whether Republicans are being transparent about the state of the economy, especially as consumers continue to feel the impact of rising prices. Trump's new Fed pick, Kevin Warsh, may also face pressure to lower interest rates to 2%.

Steve discusses whether Republicans are being transparent about the state of the economy, especially as consumers continue to feel the impact of rising prices. Trump's new Fed pick, Kevin Warsh, may also face pressure to lower interest rates to 2%.

Stu Burguiere looks at the state of support for voter identification laws in America and speculates on the effect the SAVE Act could have on future elections. Then, the Bahnsen Group's David Bahnsen joins for a conversation on everything from the head of the Fed to the state of artificial intelligence. And Stu examines the latest backstabbery between Jasmine Crockett and James Talarico. Learn more about your ad choices. Visit megaphone.fm/adchoices

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture Conspiracy no more, Germany and the EU shutting down energy production while China was increasing theirs. This tells you everything you need to know. Trump tariff system is getting stronger, it’s improving the economy and this is something the [CB] does not want. The [CB]s are losing control over the Fed, watch gold and silver. Trump need to wake the people of this country up. The only way to do this was to have the people go down a path that would make the uncomfortable, scared and angry, this is how you break the brainwashing. People can now see it is the tryrants against the people of this country. The picture is clear. Every step of the way the [DS] is losing their grip on the people. The people are ready to take back the country.   Economy https://twitter.com/HansMahncke/status/2018402875693580744?s=20   (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/KobeissiLetter/status/2018664901959462953?s=20   ended in June 2025, when missed payments began appearing on credit reports. Meanwhile, the percentage of student loans transitioning into 90+ days of serious delinquency is up to 14.3%, an all-time high. This significantly exceeds the 2013 peak of 10.5% and 2008 levels of 7.5%. The student loan crisis is accelerating. https://twitter.com/profstonge/status/2018663257675018691?s=20 Political/Rights https://twitter.com/AnthonyGalli/status/2018716797864661049?s=20 https://twitter.com/luvgod/status/2018390600475644333?s=20  Code of Conduct explicitly requires justices to avoid impropriety and the appearance of impropriety, including political activity that undermines public confidence in judicial independence. https://twitter.com/RichardStiller4/status/2018460663329472526?s=20   https://twitter.com/amuse/status/2018673649985683709?s=20   https://twitter.com/WallStreetApes/status/2018551227416756485?s=20   drive from these people?” This is what she said happened: ‘My friend told us about a dive burger place in Minnesota that we absolutely had to try. As we were driving in, we passed a small group of maybe 30 people holding large “F ICE” signs, spelled out. Many of the houses in the neighborhood also had signs saying “F ICE” and similar messages. When we were leaving to drive back to the hotel, we passed the group again. At that point, the resistance group stepped out in front of our car and would not let us drive. One woman appeared to be looking at our license plate and doing something on her phone. She was standing directly in front of the car, blocking us — I cannot imagine being a sane person and living in this city. We were with my brother-in-law's family, and they said that restaurants and other places are empty because of this, the resistance is out doing their thing, and the normal people are just staying home and not going out.' https://twitter.com/CynicalPublius/status/2018412853435527587?s=20 https://twitter.com/CynicalPublius/status/2018416970111311967?s=20 the execution of federal laws. Further, as we have all seen in innumerable videos, this conspiracy includes the use of violent force. I think everyone–even Democrats–must agree that what I just said is true. Now read 18 U.S.C. § 2384 (Seditious conspiracy): “If two or more persons in any State or Territory, or in any place subject to the jurisdiction of the United States, conspire to overthrow, put down, or to destroy by force the Government of the United States, or to levy war against them, or to oppose by force the authority thereof, or by force to prevent, hinder, or delay the execution of any law of the United States, or by force to seize, take, or possess any property of the United States contrary to the authority thereof, they shall each be fined under this title or imprisoned not more than twenty years, or both.” Draw your own conclusions as to what is required here. https://twitter.com/BNONews/status/2018389609563017674?s=20   CBS News is parting ways with contributor Dr. Peter Attia, a prominent longevity physician, after Epstein documents revealed over 1,700 mentions of his name and emails showing a close friendship, including Attia’s 2015 note on Epstein’s “outrageous” life he couldn’t share and a 2016 lewd quip about “pussy” being low-carb.   https://twitter.com/FFT1776/status/2018490549733322850?s=20  interview instead of sworn testimony • Withdrawal of the subpoena before testifying • A pause on contempt proceedings • A hard 4-hour time limit • 30-minute alternating question blocks • A personal transcriber of Clinton's choosing • No video recording • Written statements for Hillary Clinton instead of appearing in person Congress said no.: No carve-outs. No special rules. No special treatment. Testify under oath. Thank you Rep. Comer https://twitter.com/RepJamesComer/status/2018740003501678769?s=20  Secretary Clinton will appear for a deposition on February 26, 2026. After delaying and defying duly issued subpoenas for six months, the House Oversight Committee moved swiftly to initiate contempt of Congress proceedings in response to their non-compliance. We look forward to now questioning the Clintons as part of our investigation into the horrific crimes of Epstein and Maxwell, to deliver transparency and accountability for the American people and for survivors. NO BODY IS ABOVE THE LAW 2725 Feb 14, 2019 11:46:33 PM EST Q !!mG7VJxZNCI ID: 46cb93 No. 5182398  Chatter – Bill & Hillary's ‘public' HEALTH will begin to rapidly deteriorate. Q DOGE   illegalities that they have committed. This should be a Criminal, not Civil, event, and Harvard will have to live with the consequences of their wrongdoings. In any event, this case will continue until justice is served. Dr. Alan Garber, the President of Harvard, has done a terrible job of rectifying a very bad situation for his institution and, more importantly, America, itself. He was hired AFTER the antisemitism charges were brought – I wonder why??? We are now seeking One Billion Dollars in damages, and want nothing further to do, into the future, with Harvard University. As The Failing New York Times clearly stated, “Some connected to the University, however, think Harvard has no option but to eventually cut a deal. The Administration has repeatedly attempted to cut off research grants, which would be an untenable crises. Like many major research universities, Harvard relies on federal funding for its financial model.” Thank you for your attention to this matter! President DONALD J. TRUMP  Macron's Authorities Raid Elon Musk's X French Offices in Paris Under the direction of France's globalist President Macron, French authorities escalated their confrontation with American tech entrepreneur Elon Musk this week, launching high-profile raids of X's offices in Paris and summoning Musk himself for what prosecutors termed a “voluntary interview.” The move marks a dramatic intensification of France's long-running effort to rein in the America-based free-speech platform. According to the Paris public prosecutor's office, the operation was carried out by French cybercrime units with assistance from Europol, targeting the French premises of X. Authorities claim the investigation centers on whether X's algorithm improperly influenced French political discourse. Summonses were issued to Musk and former X CEO Linda Yaccarino, calling them to Paris in April 2026 to answer questions related to the probe. Yaccarino, who stepped down last year, is listed alongside Musk as a manager during the period under review.   French prosecutors later broadened their inquiry, citing concerns related to X's AI chatbot Grok, including claims it produced offensive or false content. Musk's company responded by correcting errors, removing disputed posts, and publicly documenting its moderation actions—steps critics say would have been praised had they come from a European firm. Source: thegatewaypundit.com https://twitter.com/disclosetv/status/2018625815114567850?s=20 https://twitter.com/JudiciaryGOP/status/2018683758006665352?s=20   far-reaching Digital Services Act thread   https://twitter.com/elonmusk/status/2018732491125727232?s=20   with social media platforms to pressure them to censor political speech in the days before the vote. Leading up to the Dutch elections of 2023 the EU commission even made the then Dutch Interior Ministry @hugodejonge a “trusted flagger” entitled to make priority censorship requests under the DSA. What kind of political speech did they want to censor, you ask? – “Populist rhetoric” – “Anti-government/anti-EU content” – “Anti-elite” content – “Political satire” – “Anti-migrant and Islamophobic content” – “Anti-refugee content/anti-immigrant sentiment” – “Anti-LGBTQI content” – “Meme subculture” In other words, anything that goes against their agenda, anything remotely right-wing or conservative, and anything pertaining to the disastrous migrant situation we have here in Europe. And guess what the only platform was that did not cooperate? @X , of course. The same platform that the EU is fining for 120 million euros under the DSA and the same platform that is currently having its offices raided in France. This is the type of stuff over which governments should resign and institutions like the EU should fall. Democracy is dead. Abolish the EU! Now! https://twitter.com/disclosetv/status/2018644283096523244?s=20  turning “algorithmic manipulation and amplification of illegal content into a new criminal offense” and developing a new system to monitor hate, “because spreading hate must come at a cost.” Geopolitical https://twitter.com/JackInTully/status/2018663771213086808?s=20   https://twitter.com/Geiger_Capital/status/2018711873240105407?s=20 War/Peace https://twitter.com/BehizyTweets/status/2018029749889638850?s=20 https://twitter.com/SteveGuest/status/2018505966765924723?s=20 https://twitter.com/nicksortor/status/2018750332231131642?s=20  has a range of options, including military force. Iran knows that better than anyone. Look no further than Operation Midnight Hammer!”    U.N. Facing ‘Imminent Financial Collapse' Admits Secretary General as Countries Won't Cough Up Membership Fees The United Nations is facing an “imminent financial collapse” as member states refuse to cough up billions of dollars in mandatory contributions. The financial woes were laid out in an emergency letter from Secretary-General António Guterres sent to all 193 member countries. Guterres said the organisation's financial crisis is worsening rapidly, threatening the delivery of core programmes and potentially leaving the U.N. bankrupt by July. He urged member states to either pay what they owe in full or agree to sweeping changes to the UN's financial rules to avoid collapse. “Either all member states honour their obligations to pay in full and on time—or member states must fundamentally overhaul our financial rules to prevent an imminent financial collapse,” he wrote. The warning comes as the United States, the U.N.'s largest contributor, has refused to fund the organisation's regular and peacekeeping budgets and has withdrawn from multiple UN agencies.    The Trump administration has repeatedly criticised the U.N. for wasting taxpayer dollars, appeasing criminal regimes and infringing on the sovereignty of the U.S. and other member nations. Several other member states are also in arrears or have declined to pay their assessed contributions. Source: thegatewaypundit.com Medical/False Flags https://twitter.com/liz_churchill10/status/2018439093420536119?s=20 FBI Raids ILLEGAL Biolab Inside a Private Home in Las Vegas — Authorities Discover THOUSANDS of Vials, Links to CCP-Connected California Lab Federal agents with the FBI and the Las Vegas Metropolitan Police Department executed a dramatic early-morning raid on a residential property in northeast Las Vegas this weekend after investigators uncovered what appears to be a fully operational illegal biological laboratory inside a private home. Refrigerators containing unknown liquids and vials of suspected biological material were found inside the residence, prompting an aggressive response from HazMat teams, SWAT units, and FBI specialists due to the potential threat presented by the materials, The Hill reported. At least one individual was taken into custody in connection with the Las Vegas raid, identified by local officials as a 55-year-old property manager, Ori Solomon. He is currently booked on felony charges linked to the improper disposal of hazardous waste, though investigators continue to determine the full scope of charges that may arise. Property records reveal that the Las Vegas home is owned by “David Destiny Discovery, LLC,” according to The Sun. If that name sounds familiar, it should. It is a shell company registered to Jia Bei Zhu (also known as David He), the very same Chinese national who ran the illegal Reedley, California biolab exposed in 2023. Zhu, a fugitive from Canada with deep ties to the Chinese government, is currently in federal custody. The FBI has taken the lead in analyzing the more than 1,000 samples collected from the scene, with evidence transported to federal laboratories for further testing. https://twitter.com/RepKiley/status/2018514131876213199?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2018514131876213199%7Ctwgr%5E1616a599ecdcff26961307ece268007bf47acbbc%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Ffbi-raids-illegal-biolab-inside-private-home-las%2F Source: thegatewaypundit.com https://twitter.com/WarClandestine/status/2018714265247453494?s=20 https://twitter.com/liz_churchill10/status/2018321118000476222?s=20   https://twitter.com/elonmusk/status/2017614901028786500?s=20   [DS] Agenda BREAKING: Jill Biden's Ex-Husband Arrested and Charged with Murder of His Wife Jill Biden's ex-husband Bill Stevenson was charged with first-degree murder of his wife, Linda Stevenson. Last month police swarmed Stevenson's home after his wife died amid a domestic dispute. Police removed several items from the Stevenson home last month. 64-year-old Linda Stevenson, wife of Jill Biden's ex-husband Bill Stevenson, was found unresponsive after police arrived to the New Castle, Delaware, residence late Sunday night. According to TMZ, Linda Stevenson was found dead in the living room. TMZ obtained 911 dispatch audio, which references cardiac arrest: According to TMZ, Stevenson is being held on a $500,000 bond. Fox 29 reported:   Source: thegatewaypundit.com https://twitter.com/WallStreetApes/status/2018513235868299678?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2018513235868299678%7Ctwgr%5E6abdb9eedc5852ca532cc2c248c01795a00b5389%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F02%2Fjust-days-before-ayanna-pressley-was-sworn-her%2F https://twitter.com/MrAndyNgo/status/2018549471160734081?s=20 https://twitter.com/TriciaOhio/status/2018419624295960839?s=20 https://twitter.com/libsoftiktok/status/2018741593071648855?s=20 Media's Bogus Minneapolis Narrative About to Be Nuked As DHS Turns on the Cameras Department of Homeland Security (DHS) Secretary Kristi Noem announced Monday that all immigration officers working in Minneapolis will start wearing body cameras as an added layer of protection for those officers and, presumably, against the false narratives being pushed by the left after a series of deadly officer-involved incidents in the sanctuary city. Source: redstate.com https://twitter.com/libsoftiktok/status/2018536832489889937?s=20 https://twitter.com/TriciaOhio/status/2018502877321334812?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2018502877321334812%7Ctwgr%5Efce8ad7eb6d8fb345b1483e2b135162684061896%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fredstate.com%2Fsmoosieq%2F2026%2F02%2F03%2Ftps-decision-n2198777 for decades.   Temporary means temporary and the final word will not be from an activist judge legislating from the bench. https://twitter.com/grok/status/2018537805073330361?s=20 cases like Haitians may face ongoing challenges. President Trump's Plan https://twitter.com/profstonge/status/2018490184677900551?s=20 https://twitter.com/profstonge/status/2018680520549257396?s=20   better. He is running because he realizes Thomas Massie has been totally disloyal to the President of the United States, and the Republican Party. He never votes for us, he always goes with the Democrats. Thomas Massie is a Complete and Total Disaster, we must make sure he loses, BIG! https://twitter.com/MarioNawfal/status/2018488252219699617?s=20 https://twitter.com/seanmdav/status/2018397484209635625?s=20  to defund ICE   OPPOSE: 58% https://twitter.com/nicksortor/status/2018712280645484664?s=20 https://twitter.com/TheStormRedux/status/2018473020835192964?s=20   complying voluntarily – They are suing the states that are not complying in the next couple weeks – 24 states + DC in current litigation because they are making all kinds of excuses Gee I wonder why these states won't share their voter rolls? Because it's all a fraud. The jig is up. Harmeet went on to specifically discuss the FBI raid in Georgia. “We're going to figure out the logistics there with the court and with our colleagues and see what those ballots show. I think it was highly unusual. A lot of things that happened in 2020 in the swing states… We're going to see what we see and whatever the evidence shows, I think it's important for the American people to know what happened in Fulton County and in Georgia…”  Don't tell me nothing is happening! WSJ Anonymous Hit Piece On Gabbard Is Based On Complaints That ‘Weren't Credible' ‘Here's the truth: There was no wrongdoing by @DNIGabbard, a fact that WSJ conveniently buried 13 paragraphs down,' a DNI official said. https://twitter.com/alexahenning/status/2018313944360702063?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2018313944360702063%7Ctwgr%5E2d40da39babc1191fd219e747e9e7022814c8641%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fthefederalist.com%2F2026%2F02%2F03%2Fwsj-anonymous-hit-piece-on-gabbard-is-based-on-complaints-that-werent-credible%2F   Gabbard were not credible. Source: thefedearlist.com https://twitter.com/HansMahncke/status/2018367694823735378?s=20   fabricated source feeding supposedly ultra-sensitive information that sends everyone chasing a lie. So yes, exactly like a le Carré novel (by the way, the fraudulent Steele dossier followed the same le Carre blueprint).   https://twitter.com/DNIGabbard/status/2018504435769520156?s=20   nation and ensure the integrity of our elections  https://twitter.com/TheStormRedux/status/2018463747095003285?s=20  willfully defrauds the residents of a state of a fair and impartial election process. “In other words, the focus of this investigation, the focus of that raid, the reason that federal judge approved that raid, was that they're looking at possible crimes related by election workers and the administration of that election in 2020.” Can't wait to see how this plays out  https://twitter.com/realLizUSA/status/2018692087345025302?s=20 https://twitter.com/MarioNawfal/status/2018553787036623201?s=20   South, Midwest, and Mountain West. Democrats are largely confined to the coasts and a handful of Midwest holdouts like Illinois and Minnesota. This is where policy actually gets made. Abortion, elections, education, guns. It all starts here. https://twitter.com/CollinsforTX/status/2018698529036808560?s=20 https://twitter.com/EricLDaugh/status/2018703572016287879?s=20   https://twitter.com/Geiger_Capital/status/2018717121425834279?s=20 https://twitter.com/RepLuna/status/2018480826741055929?s=20  is through the standing filibuster. This would effectively keep the government open while allowing Republican senators to break through the “zombie” filibuster and put the SAVE America Act up for a vote on the Senate floor. The standing filibuster is not common parliamentary procedure, but it is one of the only mechanisms available to go around senators who want to block voter ID. @LeaderJohnThune we are very pleased that you are discussing the standing filibuster, and we believe you will go down in history if this is pulled off as one of the best leaders the Senate has ever had. Voter ID is a must, and the ball is now in your court. https://twitter.com/AwakenedOutlaw/status/2018510290653155445?s=20 https://twitter.com/CynicalPublius/status/2018439757227819347?s=20   IMMEDIATELY blasted off like gangbusters. In one year we have seen more productive conservative change in the federal government than with every other GOP president since Reagan combined. Trump has significantly degraded the Deep State in a way most of us could only dream of ten years ago. Moreover, Trump's economic policies are bearing fruit right now and we will likely see a very strong economy by the midterms. But… Ah yes, the midterms. I know so many of you will only be happy when Bill Clinton, Hillary, Obama and Joe Biden are in jail, but you need to join the world of reality. Right now Trump and his team are gauging everything they do through the lens of “How will this effect the midterms?” They have sophisticated polling that you and I will never see, and at the moment every Trump action is tempered by “Let's be aggressive but not in such a way it turns public opinion against us before the midterms.” Trump knows that if he loses the midterms, all is lost. The Dems will constantly impeach him and most of his cabinet, and even if the Senate never convicts, the acts of impeachment will grind the Trump machine to a halt. The midterms are everything. So I'm warning you, from now until November you are going to see a less aggressive Trump If you are a Doomster for whom nothing is ever enough, you need to understand why that is. But here is the good news. I believe that one day after the midterms Trump will once again go shock and awe for a year, and then back off again in 2028 to get JD or Rubio elected. (For example, I can easily see Trump taking zero drastic action in the near term to further inflame the Minnesota situation, but invoking the Insurrection Act the day after the midterms and sending in the 82nd.) Since the Super Bowl is coming up, consider it this way: In the first quarter, Trump ran up the score. In the second quarter, he went prevent defense to hold onto the lead. After halftime, once again in the third quarter he will run up the score, and then hold the lead in the fourth quarter to win the game. This is not Qtard “trust the plan” nonsense. This is simply good political strategy. Everyone needs to realize two things: (1) the Constitution includes checks and balances that inherently weaken the absolute power of each branch and (2) even though they are in the minority, Democrats still have a HUGE say. Our system is DESIGNED THIS WAY. We have to account for the opposition—you cannot ignore them. With that in mind, I have every confidence that Trump and his team will navigate through a treacherous course and come out on the winning side. I’m hoping this post makes the things you see in the months ahead more comprehensible. Have a nice day. https://twitter.com/nicksortor/status/2018742785017336107?s=20   the SAVE Act is not included in the government funding bill that advanced via the 217-215 House procedural vote on February 3, 2026. That legislation is a $1.2 trillion spending package funding most federal agencies through September 30, 2026, while extending funding for the Department of Homeland Security only through February 13, 2026, to allow for further negotiations on immigration enforcement. Efforts by some conservative Republicans to attach the SAVE Act—a separate bill requiring proof of U.S. citizenship for federal voter registration—were rejected during the process, following calls from President Trump to pass the package without changes.  (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");