*Trump* JUST Reset the Fed

Well, it's official. I'm leaning towards

choosing Kevin Hasset. That's right.

Kevin Hasset apparently emerging as the

quote unquote front runner for the

Federal Reserve. Scott Besset mentions

that we should be expecting Kevin Hasset

to be essentially formally announced

before Christmas. Uh and now they've

they're sort of softly leaking this

reveal. This is a very common strategy

by uh government to slowly kind of hint

that oh, we might be choosing this

purpose person. They purposefully leaked

this so they could see what the market's

reaction is. So what Donald Trump and

staff are going to do now is they're

going to monitor the reaction in markets

specifically regarding the dollar and

with treasuries. Uh the dollar is

already moving slightly lower on this

hasset rumor quote unquote rumor. Uh

that's the intention. Kevin Hasset in my

opinion is a wet blanket. I'm not trying

to be offensive here. Maybe I just, you

know, maybe we need to sit down for

dinner and and I need to be impressed

here. But I feel like he's more of a

Trump shill. He's actually the perfect

candidate for Trump to choose because he

doesn't have the balls of his own. Uh

like Myron, who you know, we'll go

through what Myron just said in a moment

as well. He's calling for Fed rate cuts.

But Myin, he we know that that's old

news. Myin, even though he's also a

shill, he has balls. like he will stand

with facts. I don't think Hasset does

that. Now, that's somewhat good and it's

somewhat bad. So, here's where it's

good. It's good because it's bullish

rate cuts. Hasset,

he's going to do whatever Trump wants.

And if this economy continues to decay

the way it is with labor statistics data

that we're seeing now, ADP report this

morning, remember what we saw with the

ADP report in consumer sales this

morning. I mean, let's do a quick recap

of the numbers. So this morning with the

ADP 4-week moving average coming in at

-3.5, we are getting data four times as

fast as we used to get it because now

we're getting data on a weekly cadence

with a 4-week moving average and it is

now on a four-week moving average

declined from -2.5 to3.5.

The Federal Reserve will be getting this

jobs data, which we just got, plus the

ADP jobs data for the full month of

November, plus the first weekly report,

which will be the day before the Fed

meeting before their presser on the 9th.

Uh they'll be getting that weekly data

as well. So, the Fed's going to get a

lot of ADP data here. You know, people

are like, "Oh my gosh, the Fed has no

official BLS labor report data." Okay,

they'll just use the ADP data and we'll

get our rate cut. It's not a big deal.

But you know the concern really is what

happens after the 25 BP rate cut which

is an 80 85% chance right now. The

concern is that the economy continues to

decay. Well, you've got this large

chorus at the Fed that's really worried

about inflation. Hasset being, you know,

the Trumpian and chill that he is, uh,

will, uh, will favor rate cuts as

opposed to worrying about inflation and

he could drive along with my and others

towards consistent more rate cuts. Now,

that's actually coincidentally

probably the right move. Like I'm of the

mindset that any kind of tariff

inflation will increase prices but then

next year we'll probably see deflation

because as the economy collapses slowly

it's slow bleeding I shouldn't say

collapsing as the economy dims I guess

is the word Bloomberg is using these

days as the economy keeps dimming uh as

we see layoffs at even like Apple now

right look at this Apple cuts jobs

across its sales organization and rare

layoff as the economy keeps dimming uh

we're likely to see a need for more rate

cuts and we're going to see more

disinflation.

So far, I know when people hear that,

they're like, "But Kevin, prices are

still high." I know it's coming. I mean,

I like using this as an example. I went

to uh Target with uh Jack. Oh boy, this

was probably like three three or so

weeks ago. I go to Target with him and

I'm like, maybe I can pull up the

picture. I go to Target, we go up the

little escalator, and they've got this

whole rack of TVs, and I'm like, I just

bought a 55 in 4K TV on Amazon for like

$340 or something like that. Uh, and

then I see in Target, I'm like, what the

hell? They have the same essentially 4K

TV for

$250 and then there's another one for

$199.

And I'm like, this is crazy. This is

literal deflation happening in TVs. Now,

TVs could be loss leaders, so it's not

necessarily an indicator of of the

economy. Uh, but uh it's wild because

Yeah, there it is. I have a picture of

Jack. I just found it. I have a picture

of Jack standing in front of it. Uh,

that was the four uh the the 43 in was

199. The uh 55 in, which was the same

size, was this other picture. Here was

one at uh $24959. So, it's like $100

less than Amazon. And I just went there

yesterday as well or two days ago and I

think the prices came down even more

maybe Black Friday sale or something

like that. But like that is going to

come more as stores realize this is my

bottom line sentiment for Target. I

think Target realized that they spent

too much time remodeling their stores

and trying to make their stores look

nice and what they've done is they've

forgotten the thing that brings people

to the store and that's everyday value.

You know, people go to Walmart because

they see the roll back advertisements in

their face every single day. People care

less about this, you know, fancy design

that Target does with their stores. They

want the bill at the checkout to be

lower. The economy, you see, like this

is Target for example. Here's like

they're trying to make their stores all

fancy with this Ulta partnership or

whatever, which that failed also. You

know, Ulta is already rugpulling Target

on that. So Target's getting hit. They

just need to lower prices. But the point

is the consumer is weakening because the

labor market is weakening. Apple's

laying off. You've got consumer

confidence plummeting. The lowest

consumer confidence since April. We've

got a retail sales miss. And that's

driven by uh the only reason you had a

little bit of a be or a match here was

because of gasoline. We looked at the

components of this. But if you remove

autos and gas, retail sales miss, you're

actually on control group negative for

September. Now, it's older data, but I

personally think this is because people

spend a lot of money worrying about, you

know, oh, they're going to raise prices

because of tariffs. Prices are going to

come down over the next few years. And

somebody like Kevin Hasset, who will

aggressively lower rates, I believe,

will actually be not only good for the

real estate industry, but it'll be

potentially in the short term good for

equity markets because people will be

like, "Yay, you know, stocks up because

rate cuts and risk assets will go up.

You know, Bitcoin's up 500 bucks since

since this asset information is out." Uh

but uh but the underlying economy is

still one that is fueled by debt. This

is just our gas price analysis here. And

there's a problem with that. See, we

talked about this quite a bit uh

yesterday. This deficit financing that

you're getting from the AI companies is

unfortunately a quite a big risk factor

for the economy because the more

companies start getting nervous about

the debt that's being loaded up, the the

less of the banks

are willing to actually finance these AI

products or projects. And that's the big

risk factor. Now, I want to listen to

what Myron said this morning uh because

he's also shilling for rate cuts. Uh

which is great. You know, we do expect

uh these rate cuts, this rate cut to

come in December and then more to come

as the economy keeps weakening after

that. In the short term, the stock

market ironically loves the idea of a

weak jobs report because you get

Treasury yields that come down uh and

you get the odds of a rate cut up, which

is short-term stimulus. But uh let's

listen to Myron here and then we'll talk

a little bit about more about AI and

data centers and what's going on with

the spend because you know obviously

there was a lot of enthusiasm about

Google this morning. Uh but surprisingly

Google actually gave up a lot of its

pre-market enthusiasm potentially as

institutions kind of start saying you

know what time to ring the bell time to

take a little bit of profit. Now in

fairness regained 414 on Tesla regained

green on the Q's. We're back at 6 uh 607

here likely because of this talk of rate

cuts. But let's listen to Byron here.

Oh, and the appointment of Hasset. In

the short term, bottom line on on

Hasset, good for stocks, good for

yields. In the long term, it's probably

also exactly what the economy needs.

Worst case scenario, you would have

gotten in my opinion somebody like um

Kevin Walsh. Kevin Walsh, he wouldn't

turn on the money printer in my opinion

if the economy crashed. So, that's what

you have to consider as well, like what

happens if we actually go into a

recession. Who do you want at the

Federal Reserve? You have a choice. You

could have, oh, there's Taylor Riggs.

That would work, too. Um, you could have

Kevin Walsh, who's somebody who is

reluctant to print money, and we we saw

him at the Federal Reserve in 2008. He

was reluctant to turn the money printer

on. Uh, do you want somebody like Kevin

Worsh, or do you want somebody like

Kevin Hasset? I mean, if you want it all

to really go to hell in great reset, you

want a Kevin Worsh who's going to go,

"No, we're not going to print money." If

you want the money burner to come and

you want some buy the dip opportunities,

you want a Kevin Hasset cuz if poop hits

the fan, not only is the guy going to

cut rates to zero, but he's going to

drive the money printer through the

roof. It'll be great. You know, risk

assets will love it. It'll be it'll be a

generational buying opportunity is what

you get if you slow bleed into a

recession and then you get Kevin Hasset

printing money. But anyway, let's listen

to um Myin.

Oh. Oh, Fox News. We got the pin wheel

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>> by at least a quarter of a point. Stocks

moving higher yesterday uh on the

expectation that we will see another

cut. Fed chief Jay Powell under pressure

from the president uh to keep cutting

interest rates as we said inflation

numbers and he

>> is exerting you know restriction on the

economy. It's holding the economy back.

It's pushing the employ the unemployment

rate gradually upward and I don't think

that's appropriate given the economic

outlook. So I think it's the

>> absolutely agree and remember the

unemployment rate is already starting to

rise and we have not seen a stock market

tank yet. That's the concern is that so

far the stock market in fairness has has

done fantastic. You know every

opportunity this year has been a buy the

dip opportunity is with the exception of

like Micro Strategy. You know Micro

Strategy posted at Realme Kevin on on X

this morning that it took 3 months to

lose 34% of its value. It's only taken

three weeks to lose the next 42.7%.

It's it's been a problem. Uh but

otherwise, stocks have broadly been a uh

by the dip uh all all of the year

almost. Uh and so that we have not

tested yet. If we end up testing that to

the downside, that's when you could

potentially get early retirees coming

off the sidelines. Then you get the

labor force participation rising and

then you really have a problem in the

labor market. So trying to get ahead of

that, especially with a Hasset

appointment, kind of smart. So you're

going to get a short-term pump out of

this, and that's exactly what Trump is

trying to engineer. I mean, you've had

three weeks of the cues going red. You

had a little bit of a bounce yesterday.

Now you're going to get a little bit of

a hasset pump here as well.

>> The right thing to cut interest rates

rather quickly. Now, I think what you'll

see on the rest of the committee is that

the labor market data that we got

recently, I hope, will move people in my

direction of thinking it's appropriate

to continue cutting interest rates. I

think that's what the data call for. And

you know, my guess would be that's what

we get, but I can only at the end of the

day speak for myself.

>> Look, I know that you're following your

mandate and your colleagues are are on a

mandate. But when you consider some of

sort of the larger issues happening,

like for example,

>> dude, who wears white socks with a suit

like that, is that a new thing? Am I

missing something?

>> Yes would be that's what we get. But I

can only at the end of the day speak for

myself.

>> Look, I know that you're following your

mandate and your colleagues are on a

mandate, but when you consider some of

>> white socks don't belong on a suit. For

example, AI AI is expected to replace

jobs in a big way. Yes, we're going to

have new jobs coming up, but that whole

structure and this issue precise numbers

on the on the the footprint of AI in the

economic data on a on a real-time basis

other than say in some of the investment

data that you get about about uh about

capital formation in the economy. Um,

but when it comes to thinking about what

AI means for the future, if you get uh

AI replacing some workers at various

parts of the of of the labor force, what

that does is it's it's both

disinflationary because you're sort of

it's disinflationary because you have a

new technology allowing you to produce

more with less those counts

in my mind to to move

>> the disinflationary argument he's making

is really a a way of reiterating that

this new Fed board is going to be very

interested in cutting rates. I wouldn't

be surprised if Hasset drives us to

zero. Mark your calendar. Okay, mark

your calendar.

The year is 2032.

We look back. So that's seven years from

now. The year is 2032. We look back, we

go the labor market rolled off a cliff.

Kevin Hasset cut rates to zero. expanded

the Fed balance sheet from six, you

know, whatever trillion dollars

to

probably honestly $20 trillion.

We are 200% debt to GDP. We're way more

in debt than we've ever been before,

but we're actually at this new sort of

decade of stock euphoria and asset value

euphoria where the people who own stocks

and real estate end up even richer than

ever before than ever wildly imagined

because of the amount of money printing.

Mark it on your calendar. Tell tell your

your your phone or whatever, hey, you

know what? Remind me in seven years

>> interest rates a little bit for a little

bit lower down.

>> So what do you want to say about the

mandate as it relates to employment

because that's we're getting all this

data now after the government shutdown.

We'll get retail sales this morning.

We'll get the producer price index. What

about jobs?

>> Yes. So that's a that that is the qu

that is the key question. Now as I look

forward into 2026, I see a few reasons

for optimism, right? I see the effects

of deregulation continuing to kick in. I

see the effects of tax policy like full

expensing of investment continue to kick

in. I see the uh the effects of uh the

trade deals in which uh other countries

have committed to invest in the United

States kicking in and the the uh the

dissolution.

>> A lot of people are really enthusiastic

about this that hey, you know, we're

going to get tax cuts, maybe we get

stimulus checks or whatever in 2026.

It'll be a great year. The problem is a

lot of that starts getting priced into

the stock market now. And the the big

risk that I get worried about uh is that

we actually end up having uh a a failure

uh of financing. That's the biggest

concern that I have. So you look at uh

you know the the data center financing

we're seeing right now and really if you

stop financing Oracle or Coreweave,

you're done. You know, people got pissed

off at me yesterday on on X because I

posted this video clip of me explaining

how uh financing is done for these AI

plays. And frankly, the concern is that

as soon as the the the Kool-Aid stops

flowing, it's over. Uh because you need

the debt to keep flowing to fund uh

these uh these chip buildouts. And if

the debt stops going to companies like

Coreweave, then you've got big problems.

Now 607 seems to be a little bit of a

stopping point not a surprise for the

Q's but look at corewave I want to show

you very important lines okay so if you

go to coreweave right here that 6847

line if we keep losing these lines which

so far we've been taking out every

single line on this retracement has been

taken out so far if we keep going down

on coreweave what'll happen is you're

going to get under this 55 to 35 range

Nvidia is going to start buying

But then there's going to be a problem.

Nvidia is going to start buying a

company that's actually going down. So

Nvidia buys it just bails out existing

shareholders. Then Nvidia shares go down

because people are like, "Well, Nvidia

is the only buyer and they're buying a

money losing stock." So then they take

profits on Nvidia and you get this sort

of vice versa cycle. If Coreweave loses

its IPO price and we drive more people

to sell, it's not that the company goes

to zero because the stock goes down.

It's that bankers get nervous. It's that

all of a sudden JP Morgan, the cockroach

in disguise, starts saying, "Oh my gosh,

we can't lend to Cororeweave anymore

because their stock is going down." You

have to remember the stock is a form of

collateral. So if the collateral value

is falling

then you got problems and you stop

lending and if you stop lending now all

of a sudden coreweave can't buy Nvidia

chips anymore and that's when the growth

rate of Nvidia slows down. So really

watching Coree stock in my opinion is a

great tool for evaluating where are we

in the cycle because once Coree gets to

the point where people aren't lending on

it anymore that's when your true

problems hit. Remember that debt chart?

It's all debt fueled right now. We're

past the cash fuel phase. Cash fuel

phase was still good

>> of uncertainty over trade and and and

tax policy. However, we have to

recognize that the unemployment rate has

been drifting higher and that is a

function of monetary policy being too

tight. Now, my concern is that if we

don't continue cutting rates and do so

at a reasonably quick pace that monetary

policy will nip all those positive

developments in the bud and we will not

get the recovery in the labor market

that I think that that I think that is

appropriate.

>> Yeah, I actually totally agree with him.

I think he's right. I think if you want

to hope that we're going to have a labor

market recovery in 26, you need to cut

rates. But I'm not like 25 bips ain't

going to make a difference. You know,

you probably have to go more aggressive.

And I think Hasset, we're probably going

to end the year next year at way lower

rates.

>> Yeah.

>> Well, you make a really good point in

terms of the expensing because that is

going to dictate decisions on the part

of corporate managers. If they're able

to expense things, well then maybe they

will hire more. Maybe they will invest

more in their businesses. And we'll see

that as a result of the big beautiful

bill in 26.

>> Well, we we we may if monetary policy

doesn't get in the way. Now, I think

it's really important to understand that

if you push out the supply side of the

economy, that is all else equal

disinflationary. And when you think

about sort of things like losing

loosening regulations or or capital

deepening the economy that allows you to

produce more with less, those are things

that push out the supply side of the

economy. And in my mind, uh you know,

pushing out the supply side of the

economy means that you can accommodate

lower interest rates. Well, tell me

about the the

>> in English. If we increase the supply of

goods that we, you know, can manufacture

or provide, then we have to be less

worried about inflation. And because we

have to be less worried about inflation,

we can cut rates more aggressively. Are

you still waiting on sort of

expectations for the year? But what are

because we're going to have a new

chairman of the Fed and we expect that

you will have sort of a leaning toward

lowered rates, but are you talking about

a potential string of rate cuts in 26 or

are you talking about 50 basis point?

Oh, it's going to depend on the data

>> take to the sidelines next year. Well,

so my view is it's appropriate to get to

neutral rather quickly and I've been

very clear about that and and I thought

that was appropriate in in a series of

50 basis point cuts. As we've been

making progress, it becomes a little bit

less urgent to get to to move in in such

outsized moves because we have been

making some progress bringing interest

rates down. Um the big difference

between myself and I think where the

bulk of the committee is is not

necessarily on what the end destination

is. I think a lot of people, if you look

at where their where their projections

for the economy go in what we call the

dots, they have us getting towards

neutral rates. It's just over the

question of how quickly we get there.

And I want to get there rather quickly

because I don't see an inflation

problem. I do see potential risks to the

labor market. And many of my colleagues

sort of see the other, you know, see the

other way around where they do see

inflation problems. In my mind, almost

all of the inflation excess is is a

mirage. It's due to it's due to supply

demand imbalances in the housing market

that

>> almost all of the inflation excess is a

mirage. You know, still talking about

that lagging or lingering uh real estate

impact. Let's uh fast forward a little

bit here.

>> Supply demand imbalances from 3 years

ago.

>> Really really to to sell the securities

because takes a really long time to roll

down. At some point in the future,

>> mortgage back securities,

>> deposit redemptions, deposit flight, you

need to hold reserves against those. So

we tell the banks that they have to hold

reserves. That creates a minimum level

of reserves that the banking system

needs because if the banking system

doesn't

>> we know they want the Fed to have

reserves. Fine. Okay. So we get the

idea. My wants cuts. Hasset is going to

be the enabler of that. Trump knows

that. And it's it's like honestly if I

were Trump, Hasset is probably the

person that I would pick as well. Now my

goes on to talk about tariffs and how

Trump says, "Hey, we shouldn't, you

know, uh cut tariffs uh or or um uh you

know, ban tariffs with the Supreme

Court." All that speculation. What

matters right now is that Hasset is

probably going to continue to be seen as

bullish. It gives us nice green push in

markets. You're seeing it continue. What

a surprise. Seeing it continue because

this news is circulating. Oh, sweet.

We're going to get those rate cuts.

We're going to get a wet blanket.

Perfect. It It is what the economy

needs. So, it is actually a good thing,

especially in the wake of uh that ADP

data this morning and that softer retail

sales data. Now, the question is, can we

round out? That's going to be where, you

know, we hold our breath and say, okay,

well, you know, hopefully we round out

layoffs at Apple. Little abnormal to see

that. You know, you've got Jay Clayton,

who was uh Donald Trump's prior SEC

chair, saying that there's some funky

vehicletovehicle financing going on in

private credit that's leading to what he

calls Mark 2 myth, which is just

basically a way of saying that, you

know, you're seeing these private credit

funds that aren't actually being honest

about their losses. You've got another

uh Valley City furniture company here

that went bankrupt uh in Columbus, Ohio,

which if you look at uh if you go to,

you know, this is our stock tab in the

um uh what's it called? This is our

stock tab in the uh for course members.

And if I go to Restoration Hardware

here, RH

uh and this is only available to course

members in the Meet Kevin app. But you

can see here that the CEO of Restoration

Hardware says uh a lot of people are

going to close. A lot of jobs are going

to be lost in the furniture space. Well,

it's exactly what's happening here. It's

not a surprise that you're still seeing

pain in the underlying economy. You're

going to see that for a while. And

that's why Hasset's probably a good

choice uh for getting the rate cuts.

Again, I I don't think he's going to be

the greatest economist,

but he's going to do what needs to be

done for the economy. The risk, and this

is the part that is harder to evaluate,

the risk is when you have somebody who's

a wet blanket that the Fed, they're more

likely to pull off an Arthur Burns, and

this is the risk factor. This is very,

very long-term. Okay, this is why we're

keeping this at the end of the segment.

Most people aren't going to care about

this because in the near term, this is

just bullish. Uh in the face of, as even

CNBC reports this morning, a cyclical

weakening of the labor market. You have

to know that in the long term, if you

have a wet blanket as Fed chair,

somebody with no balls, you risk having

an Arthur Burn situation in the 1970s.

That's basically where the Fed had no

balls. They vacasillated with every

single data point, no solid forward

guidance, no mantra, no, you know,

targets, no goals, and they just changed

their mind every meeting.

And so what you ended up getting was

massive inflation. Massive inflation

that ended up having to be broken by

Paul Vulkar uh in the 82 and 80 double

dip recession. You had a double

recession at 80 and 82 because of the

failures of the Fed. uh in the 70s and

then of course the price controls at the

beginning of the 70s which which were uh

you know just basically pent up

inflation uh and and prevented us from

actually realizing the inflation until

they removed the price controls then

prices skyrocket and you have a Fed that

vacasillates all over the place and so

there is a an ironic good right now in

having a weak Fed chair pump markets

good for the short term the long term is

bad because you get somebody who might

not end up fighting inflation when we

need it because that is the risk factor

is we get to do is some sort of

weakening, we get money printing and

then we go right back to sty checks or

some kind of crazy, you know, whatever

uh uh fiscal stimulus

and we reignite the very inflation that

we've been trying to fight for 5 years.

That's a longer term risk, not a

near-term risk. Uh, a more near-term

risk is stuff like what the information

is reporting that Oracle linked

borrowing binge worries lenders. So,

construction loans are famous for

getting rugpulled. And here they talk

about a flood of new debt helping build

data centers, debt back maturity

facilities, construction lending. Here

it is. Construction lending could become

a bottleneck if stocks keep falling,

which fortunately right now under this

Hasset news they're pumping. But if

stocks return to a falling uh sort of

theme, you know, like Oracle, look at

Oracle's movement straight down since we

reported on it. I mean, we talked about

this in the alpha report, too. We

analyzed this on this channel. We

analyzed Oracle on earnings day right

here. It's down almost half now. It's

down like 45% or something like that. Uh

because we looked at the financials,

we're like, "This is a terrible balance

sheet. This is not good." And as soon as

the construction lenders wake up and

realize, oh my gosh, we are lending into

a bubble, they stop lending. The private

credit liquidity concerns don't help. Uh

and unfortunately, it likely aggravates

uh the uh the sell-off that we've seen

over the last uh 3 weeks. So hopefully

not. Hopefully not. Hopefully we could

maintain a nice bounce here. I would

like to see my test. Okay. I would like

to see AMD hold 200. Otherwise, Google

is going to do the same thing that AMD

did here. That's a real risk factor that

you get Google rocket like this just

like AMD did when people got excited

that it's the next Nvidia and then it

just curves right back down. That is a

risk factor for markets. Another risk

factor for markets is that you get an

end of the day sell off or even tomorrow

morning sell off on Nvidia. we get back

to 164 on Nvidia

and that drives down the likes of Super

Micro, Vertive, Dell, uh you know,

Corewave, Iren, the whole stack and

that's when people get nervous about

lending. So that's see like I

stabilizing here above the 100 DMA.

Fine. It's still just back to September

pricing, right? But if IRE races and we

fall back down to the 200 DMA, which is

the $23 level, which it probably will if

this cycle continues of uh liquidity

concerns, then um then lending is going

to seize up very quickly. And and that's

pay attention to lending seizing up. If

there's if you want a red flag for when

to run for the cover or run for the

exits, look for articles that start

coming out talking about lending seizing

up. We're not there yet. See,

construction lending could become a

bottleneck. Who's a big construction

lender? Oh, they said it in here. Let me

find it. JP Morgan. There it is. See,

developers have outlined plans this year

for data centers, quadrupling from last

year, according to JP Morg, there it is.

Uh, construction loans made to

developers working with Oracle are JP

Morgan and Japan's.

Okay. So what happens when JP Morgan rug

rugpulls?

Just go back to the day Charlie Kirk

diedricolor

collapses because JP Morgan rugpulls a

$700 million line of credit. When we

talked about this earlier in our live

stream, you know what people told me

that Jaime Diamond was? They said Jaime

Diamond is basically like cuz he's

warning everybody about cockroaches,

right? Well, people told me that this is

Jaime Diamond. Leaked footage right here

of Jaime Diamond from Men in Black. Will

Smith encounters Jaime Diamond

who ends up wearing a normal person's

clothes and he's actually just a giant

cockroach.

It's exceptionally disgusting. And even

Will Smith is like, "Yo, what the hell?

You were the scammer all along, dog.

[laughter]

Uh yeah, the O face. [laughter]

Um yeah, that

those are the warnings to watch for. JP

Morgan moves from rugpulling private

credit and auto lenders to rug pulling

the data centers. When that starts

happening, it's over because you're even

seeing if it here, look, one of the

three major rating agencies. Now, it

doesn't matter because right now

everything is fine because the rating

agencies have decided, you know what,

we're going to use smaller rating

agencies. We don't need to use one of

the big rating agencies. We'll use the

smaller rating agencies. Last week

warned that large cloud c contracts from

AI companies, including OpenAI, are

causing heightened customer

concentration and counterparty risk for

dead investors. Fitch is literally

sending up the warning flags. That's not

good. That's not good. That's not good.

Once that rolls over, it's bad. Now,

somebody left this facicious comment

yesterday. I think they were just poking

fun at me. They're like, "Kevin, you

know, you're you're warning about this

like AI bubble and chips, but you're you

know, you're you're talking about

launching this AI app for for uh house."

And it's true, but to me, those things

are different. Of course, I feel that

way. Oh, look. This is cool. Look at

this. Look at this beautiful picture.

So, uh, this is our, uh, like an example

of of what we're what we're working is,

uh, scoring properties with labels. And

so, we actually think, you know, we're

not investing in data centers or or

like, you know, the what what I think is

the bubbly part. We're looking for

actual productivity where where we could

say over time, hey, you know, here's an

app where uh if you're looking for real

estate in whatever zip code or whatever

you're looking in, you're able to find a

deal based on how much it changes your

net worth. Right? That's the goal is

that it shows you, hey, here's a deal

that's a bad deal. It's minus $90,000 of

your net worth. Here's a deal that's a

good deal. it could increase your net

worth by $150,000 or whatever. Uh and

you know, here's here's just an example

of of what we're building out, right?

Like avoid the deal. Uh uh you know,

good deal, fair deal, what whatever,

right? Like those are the things uh

that,

you know, I think is part of the future

of productivity of of how people can

actually build wealth. And I'm not

trying to shill the startup house hack.

uh you know, we're we're just now

working on redesigning our our website

to put some more colors in uh for um uh

or or some more designs in for our AI,

which I'm really excited about because

we're going to launch that AI service.

Uh but uh to me it's just a tool that

we've been using for years on on like

how we prioritize deals and we can now

nationwide

uh look for deals in any zip code and go

all right well instead of looking at a

100 listings in every area we're going

to prioritize by the zip code uh and

it'll guide us. Like to me that's actual

productivity AI and everybody knows that

AI has been a boost to people's

productivity. There's no question about

that. The question, the problem is at

what point have we overbuilt data

centers by commoditizing LLMs and not

just like productive AI products that

actually help us unlock more time in our

day. Uh those are great. You know,

that's the next phase of AI. We think

we're on the next frontier of AI, the

okay, where are companies that are

actually generating value, right? Uh but

uh but the data center boom has real

risks. And the fact that Fitch is now

warning, hey, you know, JP Morgan's

lending into a bubble, it's just going

to be a matter of time before the

cockroach Jaime Diamond turns around and

says, uh yeah, you know what? We're done

lending to data centers. And if Jaime

Diamond stops lending to data centers,

do you think the smaller lenders are

going to lend to the data centers?

That's the oopsy dupsies. So anyway, uh

somebody here in the chats writes soft

lending maybe. Well, that's the hope.

See, my hope is that we can soft land.

We soft land in uh 26 and our house hack

AI blows up and then we can IPO at the

beginning of 27. Obviously, no

guarantees. It's not a solicitation. You

know, read the disclosures at house

hack.com or whatever. Uh but that's my

hope and my dream. I don't want a

recession, but I'm also very well aware

that we are a teeter totter away from

recession. That's why we don't have any

debt. uh you know no bank debt uh at the

company. I don't have any personal debt

and I think it's wise to be cautiously

optimistic in this in in in you know

this macro world that we're in. H it's

good for for like shill you know run the

printer that's good and it's it's led to

a nice pump in the stock market today

but is it going to be enough or is it

going to be too little too late? Look at

what's doing really well right now.

Mortgage plays. You know, guess who's

been bullish? Mortgage mortgage place.

Uh I have a list of top 10 stocks to buy

over the next 10 years in our alpha

report that you can get over at

mekevin.com.

And uh

yeah, let's just say uh Rocket Mortgage

uh might might be one of them. Uh yeah.

Anyway, we're also it's not on the

website yet, but we're releasing uh a uh

a ninth course by the way. Uh it is uh

going to be totally included. Maybe we

can get that beamed up now. Uh just so

you can see the teaser of it. Uh also,

uh post MK website.

Um

anyway, so

yeah, it'd be nice to show that because

it's going to be a ninth course. It's

going to be totally free for existing

members. Anybody in the Meet Kevin

membership, that'll be totally free,

which I think is uh is very cool. Um so

yeah,

there you have it. All right.

>> Why not advertise these things that you

told us here? I feel like nobody else

knows about this.

>> We'll we'll try a little advertising and

see how it goes.

>> Congratulations, man. You have done so

much. People love you. People look up to

you.

>> Kevin Praath there, financial analyst

and YouTuber. Meet Kevin. Always great

to get your take.