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*Unexpected* Fed Flip, Trump FREAKS, Tesla vs UAW Strike & Ukraine | Bottom Line Report [Episode 1].

34m 23s5,759 words859 segmentsEnglish

FULL TRANSCRIPT

0:00

multiple bottom line reports to cover

0:01

today including massive flip-flopping

0:04

going on and being studied at the

0:06

Federal Reserve could this change

0:08

everything we'll also preview this

0:11

week's press conference from the FED

0:12

we'll discuss the implications of the

0:14

UAW strikes how much is it going to cost

0:17

and which two companies can actually

0:19

benefit the most we'll talk about

0:21

Ukraine we'll talk test level talk

0:23

government shutdown and we'll talk about

0:25

Trump talking fed and VP candidate and

0:29

more first up Mark Cuban was fished and

0:33

no I don't mean a reeled in by a fishing

0:36

rod I mean fishing scammed apparently he

0:40

downloaded a compromised version of

0:42

metamask making him the latest victim of

0:45

phishing attacks that are super popular

0:46

in the crypto Community apparently he

0:48

lost up to 870 thousand dollars keep in

0:51

mind just linking your wallet to

0:52

something like metamask doesn't

0:53

automatically compromise its Integrity

0:55

generally you'd have to go as far as

0:57

signing some form of contract to reveal

0:59

your private key however that could just

1:02

be a few buttons deeper so beware what

1:04

you're linking with your crypto wallets

1:05

and as usual keep the vast majority of

1:08

your crypto off wallet and keep it on a

1:12

hard cold physical wallet so that way

1:15

you limit that potential now regarding

1:18

the UAW strikes began Friday at the big

1:20

three Ford GM and stellantis we need a

1:24

good pay for our families we produce

1:27

great quality good products and

1:29

everything else we can't even afford the

1:30

products

1:34

yep so anyways if they look at the if if

1:38

you do the math it'll take like one or

1:40

four billion dollars to give us the

1:42

raise but they're willing to risk it for

1:45

5 billion to lay people off in strike

1:49

it's corporate greed up to 13 000

1:52

workers went on strike specifically at

1:54

Ford Michigan's Bronco SUV facility GM

1:57

Chevy Colorado's pickup facility in

1:59

Missouri and stalantis's Ohio plant that

2:02

builds the Jeep Wranglers Legacy

2:04

automakers face a huge problem because

2:06

they have to spend massive amounts of

2:08

money to transition their companies from

2:11

gas Legacy automakers to EVS consider

2:16

that right now Tesla has nearly 60

2:19

percent of all electric vehicle sales in

2:22

America and even though that's down

2:24

slightly over the last couple of years

2:26

the pie is expanding very rapidly and

2:29

Tesla continues to have over half of the

2:32

entire Market GM literally has just six

2:36

percent of the market Ford five percent

2:39

of the market and these companies need

2:41

to invest billions of dollars into new

2:44

factories like Ford throwing seven

2:45

billion dollars into just one new

2:47

Factory just to try to transition in to

2:50

actual profitable electric vehicles keep

2:52

in mind GM does not expect to be

2:54

profitable on electric vehicles until at

2:56

least 2025 Ford until at least 2026.

2:59

problem now though is union leaders are

3:02

asking for a 40 wage increase over the

3:06

four-year life of a newly negotiated

3:08

contract when we hear 40 it sounds like

3:10

a lot but remember UPS UPS approved a 55

3:14

pay raise just weeks ago for certain

3:16

employees over a five-year term but when

3:19

you consider that these individuals

3:21

hadn't seen pay races since 2019 you're

3:25

actually talking about pay raises over

3:27

an eight to nine year period amounting

3:29

to about 55 percent when you compound

3:32

that out you're looking at about a four

3:33

to five percent annual pay increase the

3:36

difference though is that ups and the

3:39

logistics industry has grown

3:41

exponentially thanks to covid whereas

3:45

Legacy automakers are facing a shrinking

3:48

industry massive burdens of old pensions

3:52

and now the desire to transition to

3:56

electric vehicles with these burdens

3:58

it's very difficult especially since now

4:00

unions are asking for a 40 wage increase

4:02

they've negotiated down to maybe about a

4:05

35 wage increase still looking for a

4:08

32-hour work week and a restoration of

4:10

cost of living adjustments as well as

4:12

other pension demands problem with this

4:15

is now you have 13 000 workers going on

4:18

strike and Ford for example is

4:20

complaining that look if we can't get

4:22

the final Parts out of these factories

4:25

to at least weather the strikes for the

4:27

next few weeks we're going to have to

4:29

conduct layoffs and that's exactly what

4:32

Ford just did Ford just laid off 600

4:35

workers now usually if you go on strike

4:38

and you get laid off you're going to set

4:42

the company up for a massive lawsuit to

4:45

me this is somewhat of a sign that these

4:47

companies have no choice that there

4:49

backed into a corner that they have

4:51

increasing costs at every level of their

4:53

business decreasing competitiveness at

4:56

every level of their business and even

4:58

though these companies have offered 20

5:00

wage increases unions are looking for

5:03

that mid-30s number just like wed Bush

5:06

here says accepting anything north of a

5:08

20 pay increase over the life of the

5:10

contract would be a tough pill to

5:12

swallow for the business model of GM for

5:14

example but this is true for a lot of

5:16

businesses but the ones who are likely

5:18

to win are Tesla and rivien given that

5:21

both of these companies are non-union of

5:24

course it turns out that potentially 600

5:26

workers who weren't actually on strike

5:29

got laid off so it's kind of like if you

5:31

go on strike we'll fire that person huh

5:35

it's crazy all of this is leading

5:37

industry experts to suggest that no

5:40

matter what happens with the United Auto

5:42

Workers strike Elon Musk is the true

5:45

winner here this is a cover in the Wall

5:47

Street Journal where they literally say

5:49

that billionaire Tycoon isn't even

5:52

involved in these strikes yet he's the

5:55

one winning and any wage increases

5:57

further Advance Tesla's already

6:00

tremendous cost advantage over its peers

6:03

now some folks get frustrated when they

6:05

hear that Tesla might be paying less so

6:08

I threw together this tweet that I think

6:10

really encompasses what's going on here

6:12

I stated I guarantee you there's one

6:15

office winning big during the UAW

6:17

strikes and it's Tesla's human resource

6:20

department the highest quality highest

6:22

working brightest Legacy Auto Workers

6:25

will likely apply to work at Tesla where

6:28

while their nominal pay might be lower

6:31

somewhere an average of about 45 dollars

6:33

per hour versus 66 dollars per hour for

6:36

an average UAW worker profit sharing in

6:40

the UAW Industries is sharing profit in

6:43

a negative profit industry GM and Ford

6:47

don't make money on EVS who cares about

6:50

profit sharing with a money losing

6:52

company there's no profit to share

6:55

whereas when you look at a company like

6:57

Tesla where yes the nominal wage might

6:59

be 32 percent less it's worth writing in

7:02

that there are many tangibles and

7:04

intangibles especially Tesla's total

7:07

compensation thanks to Stockholm Elon

7:10

Musk has argued that many line workers

7:12

at Tesla have become millionaires simply

7:14

because of stock based compensation

7:16

consider the following intangibles at

7:19

Tesla you're at a growing company versus

7:21

dying future of sustainability versus

7:23

Legacy green versus not Tech Pioneer

7:26

versus not engineer engineering Pioneer

7:29

versus the Legacy industries of not

7:32

being engineering Pioneers plus the

7:34

tangibles stock comp upward mobility in

7:37

a massively growing business and

7:39

industry the Resume Builder of working

7:41

at Tesla and the endless educational

7:44

potential it's worth remembering that

7:46

when I sat down with the head of

7:48

investor relations at Tesla they made it

7:51

clear one of the Beauties about working

7:53

with Tesla whether as an employee or as

7:55

a contractor is you learn from Tesla's

7:58

new engineering and so then your

8:00

business or your resume grows as Tesla

8:04

grows a quick example are Tesla's heat

8:06

pumps these are a pure Tesla Innovation

8:08

and their manufacturers have to learn

8:11

with Tesla how to actually manufacture

8:13

these but now those manufacturers can go

8:16

to other potential vendors and say hey

8:17

look we were able to make this with

8:19

Tesla we can make something special with

8:21

you too now of course the uaw's

8:23

leadership responds and says that

8:25

competition is just the code word for a

8:28

race to the bottom basically how low can

8:31

you sell products and rip off your

8:33

workers that's the argument of the UAW

8:36

they say that there your greatest

8:38

concern is the working class individual

8:41

the unions go as far as calling this

8:43

price gouging by greedy corporations

8:46

this is of course leading individuals

8:48

Like Bernie Sanders to come out and say

8:50

that corporations it's time to stop and

8:53

end your greed it's time to sit down and

8:55

negotiate Fair contracts this Vermont

8:59

senator of course calling out the CEOs

9:01

who are each making over 20 million

9:02

dollars a year now ignoring the CEO

9:04

compensation the companies have about a

9:06

four percent profit margin including

9:08

their legacy businesses and the stock

9:11

market is pricing them as if they're

9:12

trending towards bankruptcy but yeah

9:15

there's probably an argument to be made

9:17

about matching the CEO compensation with

9:20

the success of not just the Legacy

9:22

business but the Legacy averaged in with

9:25

EV business and of course this is why 13

9:28

000 workers are now on strike and that's

9:30

expected to grow before it ends up

9:33

getting resolved Josh Hawley of Missouri

9:35

ended up complaining that Biden's push

9:37

for EVS was to blame for poor corporate

9:39

profits at these businesses and Biden

9:41

said that the companies have made some

9:43

significant offers but ultimately I

9:45

believe that the company should end up

9:47

going further to ensure corporate

9:49

profits also mean record contracts for

9:51

the UAW the point here is obvious Tesla

9:54

not only dominates the EV Market but

9:56

because of these strikes they're likely

9:58

to dominate the market even more because

10:01

the strikes could lead prices for legacy

10:03

vehicles to go up Supply to be

10:06

constrained which also contributes

10:08

prices going up which makes Teslas more

10:10

relatively affordable but it also likely

10:13

leads to more Talent drain from people

10:16

waking up at the Legacy Autos that the

10:19

Legacy Autos aren't your long-term

10:21

solution for a great career like they

10:23

used to be instead the next great career

10:26

could be at Tesla which leads to more

10:29

innovating for Tesla and ultimately a

10:32

greater moat for Tesla next we have to

10:35

talk about the Federal Reserve who has

10:37

their press conference and and release

10:39

of the new summary of economic

10:40

projections which will show projections

10:42

going all the way out to 2026 that's a

10:46

big deal it'll be the first time we'll

10:47

see those this Wednesday that's the 20th

10:51

the Federal Reserve by some is widely

10:54

expected to go dovish potentially

10:56

signaling that no further hikes are

10:58

needed and Morgan Stanley says the peak

11:01

is in

11:03

5.375 that's it and maybe things will

11:08

change between now and November 1st when

11:10

the next fed meeting is but they don't

11:12

believe it instead Morgan Stanley

11:13

encouraged us focus on little subtle

11:16

changes in the language such as going

11:18

from indetermining the extent of

11:21

additional policy firming to changing

11:24

that sentence to remove additional and

11:27

just say in determining the extent of

11:29

policy firming that could be appropriate

11:31

in addition the FED might choose to

11:34

remove the word highly from their highly

11:37

intentive to inflation risks somewhat

11:40

signaling that the FED is less concerned

11:43

about inflation risks and guiding

11:46

towards a soft Landing with a softer

11:49

message to individuals and to

11:52

institutions the FED is also expected to

11:55

comment on what's now being dubbed the

11:58

fed's policy Paradox essentially that

12:02

when her rates are so high you end up

12:05

crushing Innovation and that's the last

12:08

thing you would want because logic would

12:10

tell you that hey if demand is still

12:12

strong you should keep raising rates but

12:15

now there's a paradoxical argument one

12:18

that says too high of rates could

12:20

undermine inflation fighting because you

12:24

end up restricting Supply keeping prices

12:27

High that's a problem and guess what

12:30

it's literally happening everyone

12:33

remember end phase I certainly do and

12:36

guess what anaphase told us in their

12:37

last earnings call they made it clear

12:40

that they don't actually expect to lower

12:42

prices instead they'll just restrict

12:45

Supply they use contract manufacturing

12:48

so they could just call up their

12:49

contract manufacturers and go hey pump

12:51

out less micro inverters this month it's

12:54

not like they own the factories and they

12:56

pay the payroll whether or not the

12:58

factory is running that's very different

12:59

from Tesla Tesla owns the vertically

13:02

integrated manufacturing stack that

13:05

encourages Tesla to lower prices because

13:07

they're paying for the factories and

13:09

people anyway whereas with end phase

13:11

endface has the choice to spend the

13:13

money or not they choose to just

13:16

restrict Supply the problem with this is

13:19

when businesses restrict Supply they

13:21

spend less time innovating and making

13:24

their manufacturing processes more

13:26

efficient this could end up leading to

13:28

longer term entrenched inflation this is

13:31

exactly the opposite of what the FED

13:34

wants to see happen okay now listen I

13:37

know that a lot of people are just gonna

13:39

go Hey Kevin Kevin are you just trying

13:42

to dig up some more bullish articles

13:44

once again suggesting oh the fans

13:47

definitely going to pause you know I get

13:49

it I get it people have that suspicion

13:51

but here's the reality

13:53

when Nick T and fed economists are

13:56

talking about this kind of stuff often

13:58

they're trying to pre-signal the flip

14:01

that the FED is actually trying to

14:04

engineer and it's a working we're seeing

14:07

the FED funds terminal rate Trend down

14:09

at the same time as oil prices are now

14:11

going up this is a sign that the FED is

14:14

communicating manipulating the market

14:16

it's really important to pay attention

14:18

to these this is where we came up with

14:20

the whole Nike Swoosh from like the

14:23

whole Nike Swoosh was based on this

14:25

gradual transition of acceptance of okay

14:27

inflation's going away and the fed's

14:30

slow transition that's why we still

14:31

believe in the Nike Swoosh so far things

14:34

have been okay Factory construction has

14:37

almost doubled in the past year with its

14:39

contribution to gross domestic product

14:41

hitting the highest level in 1981 which

14:43

is a sign that we don't yet have a lack

14:46

of Supply coming online which makes

14:48

sense because everybody wanted to

14:51

fulfill the demand that was coming in

14:53

during covid but the problem was we

14:55

didn't have enough factories now no

14:57

company wants to be caught flat-footed

14:59

again where when demand skyrockets maybe

15:01

when interest rates fall in the future

15:02

demand skyrockets again these businesses

15:05

want to be able to provide the products

15:08

and services that are being demanded of

15:09

them so they're investing in

15:11

infrastructure but at some point too

15:14

high of interest rates does the opposite

15:16

and it actually destroys Supply chains

15:18

because it increases the cost of

15:20

actually investing in new factories and

15:22

new technologies now that doesn't

15:24

necessarily harm every company take for

15:26

example Mega caps like Microsoft

15:29

Microsoft pays an average of 3.3 percent

15:32

in interest they pay about 492 million

15:36

dollars a year in interest but guess

15:38

what they make about twice that in

15:41

interest because they're making over

15:43

five percent on their cash positing

15:46

their money into money market funds

15:48

reiterating that the rich are getting

15:50

richer and Innovation especially at

15:52

smaller levels actually gets crimped in

15:55

this topsy-turvy environment we're in

15:57

where does this leave us now well big

15:59

benefits towards big companies and a

16:02

potential that the Federal Reserve may

16:04

end up flip-flopping keeping rates at

16:07

5.375 at the midpoint and starting to

16:11

work towards cutting in 2024 when nobody

16:16

knows but what we do know is the fed's

16:18

terminal rate projections based on the

16:20

bond market have recently come off their

16:22

peaks and are starting to rotate down

16:24

again downside though five-year break

16:26

even and five-year forward Break Even

16:28

both starting to Trend up again this

16:31

leaves a lot to wonder how would Donald

16:32

Trump respond to the Federal Reserve

16:34

here you go the Federal Reserve is

16:36

obviously independent but I wonder Mr

16:39

President if you are re-elected would

16:42

you direct your Federal Reserve chair to

16:43

lower interest rates well you know that

16:45

I put a lot of pressure on him it was

16:48

outside pressure because nobody knows

16:50

whether or not you can really do that

16:51

but I did because I thought his interest

16:54

rates were too high and he ultimately

16:56

dropped his interest rates the same

16:58

gentleman as you know and but it was a

17:01

lot of pressure I mean I was very active

17:03

on that right now interest rates are

17:05

very high they're too high people can't

17:07

buy homes they can't do anything I mean

17:09

they can't borrow money the banks don't

17:10

have the money the banks aren't lending

17:12

the monies the banks by the way Chase

17:14

Manhattan Bank uh Bank of America they

17:17

discriminate against conservatives it's

17:19

a disgrace and they shouldn't be allowed

17:20

to and I'm going to do something about

17:21

that but you take a look at Banks

17:23

throughout the country and I think

17:25

because of The Regulators but you take a

17:27

look at Bank of America and Chase they

17:30

discriminate against conservatives

17:34

we'll give you plenty of that okay all

17:36

right well let's stay on track with this

17:38

question though so just to be very clear

17:39

if you were re-elected would you direct

17:41

your Fed chair to lower interest rates

17:43

uh it depends it depends depends where

17:46

inflation is but I would get inflation

17:47

down because drill we must Mr President

17:50

are you going to appoint a new Fed chair

17:52

if you're re-elected well I guess he

17:54

would have two years left or something

17:55

like that so we'll see okay all right

17:58

you know the word jawboning I did a lot

18:00

of jaw boning against him and he

18:03

ultimately lowered interest rates this

18:05

is Donald Trump suggesting that Joe

18:07

Biden is not jawboning Jerome Powell

18:10

that it takes someone aggressive like

18:12

Donald Trump to make sure that Jerome

18:14

Powell is reigned in of course this is

18:18

Donald Trump suggesting that others say

18:19

no Jay Powell is doing just fine under

18:22

the leadership of Joe Biden that's

18:24

ultimately for everyone individually to

18:25

decide recently there's also been talk

18:27

about Donald Trump might have hinted at

18:29

a woman vice president a lot of folks

18:31

suggesting they like the concept because

18:33

Donald Trump says he liked the concept

18:35

of a woman vice president this is

18:37

interesting because it could suggest a

18:39

lien towards someone like Nikki Haley

18:41

potentially less aggressive than the

18:44

Vivek ramaswamy that some are hoping for

18:47

putting potentially two bulls together

18:49

might not exactly be as the balance

18:53

Donald Trump is looking for say some

18:55

though others say hey don't suggest that

18:57

Nikki isn't aggressive she's a fighter

18:59

as well well although Nikki might have a

19:02

little bit more of that political

19:03

experience obviously than somebody like

19:05

Rama Swami who could once again help

19:07

balance Donald Trump out so then again

19:10

plenty say that Donald Trump has

19:11

political experience now given that he

19:13

was President for four years on the flip

19:15

side some people say that look you need

19:18

one person who's the good cop and one

19:20

person who's the bad cop to lead a

19:22

strong negotiation it's very difficult

19:24

to get anything done when you have two

19:27

bad cops now remember how Donald Trump

19:29

is trying to get the judge in the

19:31

Georgia trial to recuse herself over

19:33

alleged bias specifically setting Donald

19:36

Trump's trial to begin the day before

19:38

super Tuesday which is expected to be

19:40

televised that is the trials expect to

19:42

be televised and she also worked for the

19:44

same Law Firm that used to employ Hunter

19:46

Biden yes Hunter Biden was actually an

19:49

attorney well this judge is apparently

19:51

now facing so many threats that Marshals

19:53

are now escorting her U.S Marshals are

19:56

escorting her when she goes to get lunch

20:00

in the courthouse something that has

20:02

very rarely occurred for judges so

20:06

increased judicial protection here now

20:08

Jack Smith is suggesting he needs a

20:09

nearly tailored gag order against Donald

20:11

Trump at the same time because Donald

20:13

Trump is apparently trying to intimidate

20:14

Witnesses by suggesting he'll pay for

20:16

their legal defense costs if they uh so

20:18

to speak now judge wink wink testify

20:20

nicely against him or maybe even for him

20:23

also you see that of people on the right

20:26

are arguing this is just yet again

20:28

another attempt for the Department of

20:31

Justice to censor an American president

20:34

if they can censor an American president

20:37

how much can they censor and investigate

20:39

us of course the left is Now counter

20:41

arguing going and well they're finally

20:43

coming after Hunter Biden on lesson

20:45

charges given that others have sort of

20:47

lapsed and now maybe eventually this

20:49

will get done but first Congress is more

20:52

focused on oh that's right another

20:55

government shutdown debate yes literally

20:58

Kevin McCarthy and Republic applicants

21:00

are delaying work on Hunter Biden

21:02

because of a potential government

21:04

shutdown as usual which is a story that

21:06

not only happened during the debt

21:08

ceiling crisis which is crazy because

21:10

you'd think it'd finally be over but

21:12

also happens every year right before

21:13

September 30th when the government's

21:15

fiscal calendar year ends and they have

21:18

to extend the budget or approve the

21:20

budget for the next year you have some

21:21

who say look we'll go for extending the

21:25

budget and signing a budget as long as

21:27

we get haircuts to current spending

21:29

levels that's a very common Republican

21:31

stance whereas on the flip side now you

21:34

have Kevin McCarthy going folks we can't

21:36

go through this again this is

21:37

self-sabotage to the Republican party we

21:40

need to get bigger priorities handled

21:42

now of course that doesn't stop

21:45

individual Republicans like Scott Perry

21:47

from saying ain't doing it unless

21:49

they're haircuts quite frankly a lot of

21:52

Americans are so fed up with how the

21:54

government spends over 50 percent of its

21:57

revenues on entitlement programs which

21:59

of course course do include things like

22:01

Social Security which individuals have

22:02

paid into people are so frustrated that

22:05

the government does not operate like a

22:07

household that is why do we have to

22:09

balance our deaths and the government

22:11

can just print more money this

22:14

unsustainable government spending has to

22:16

stop lead to a smaller government is the

22:18

argument of many others say just keep

22:21

kicking the can down the road maybe the

22:24

artificial intelligence Revolution will

22:26

boost our GDP such that our debt will

22:28

end up being nominal in the future and

22:30

while that is possible it probably makes

22:33

sense to balance the budget before

22:35

getting there just in case it doesn't

22:37

happen we don't end up having a brics

22:39

revolution and a collapse of America as

22:41

the leading country in the world on

22:43

Ukraine Biden is expected to host of

22:46

zelinski at the White House this week as

22:49

of course zelinski is asking for not

22:51

only more money but also now long-range

22:54

missiles specifically the Army tactical

22:56

missile systems or ATA CIA EMS that

23:01

Ukraine has been asking for for a very

23:03

long time these weapons by the way are

23:05

long-range guided missiles they're fired

23:07

from mlrs rocket launch pods and

23:10

launchers they carry an about 500 pound

23:14

frag Warhead fragmentation Warhead think

23:17

about it like a giant grenade and if a

23:20

maximum range of about 300 kilometers or

23:22

about 186 miles these should not at all

23:25

be confused with intercontinental

23:27

ballistic missiles icbms which have

23:30

ranges of thousands of miles Instead

23:33

This is a distance though that could be

23:35

practically functional for Ukraine given

23:37

that Ukraine would be able to strike

23:40

sevastopol a critical Black Sea port in

23:43

Crimea controlled by the Russians from

23:46

the edge of croissant this is a big deal

23:48

because it does mean Ukraine would be

23:51

able to strike over those mine and

23:54

trench Fields making it very difficult

23:56

to gain progress into russian-controlled

23:59

territory Tori you've got Senators like

24:01

Collins and Graham calling for just a

24:05

small portion of these long-range

24:07

missiles top of that the IMF is now

24:08

estimating that 90 of the oil and gas

24:11

production that comes from Ukraine

24:13

actually arises from Eastern Ukraine in

24:16

the denipro and donesque regions this is

24:19

a potential well desire of Russia to

24:23

control those natural gas and oil-rich

24:27

regions that may be one of the reasons

24:30

why the United States is fighting so

24:32

hard to preserve that particular area

24:34

limiting Russian access to these oil and

24:37

gas Fields Elizabeth Warren is now being

24:39

asked to apologize to Elon Musk because

24:41

she complained that Elon Musk was

24:43

basically moderating the Ukrainian War

24:45

by preventing Ukraine from being able to

24:48

attack Sylvester pool with starlink and

24:51

controlling their drones Elon Musk

24:53

responds and says whoa whoa whoa

24:55

international law does not allow me to

24:58

unilaterally make that decision decision

24:59

if y'all wanted me to turn on starlink

25:01

so Ukraine could go attack deeper into

25:04

russian-controlled territory that's on

25:06

the US government but they didn't give

25:07

me permission to do that so I just

25:08

followed the law other news the SEC says

25:11

binance is not cooperating with the

25:13

sec's investigation Finance is accused

25:15

of not cooperating with the SEC and

25:17

continuing to use sifu a custody service

25:20

of the international arm of binance and

25:23

the SEC says hey look we've been asking

25:26

for a ton of stuff and all you've given

25:28

us so far have been 220 documents many

25:30

of which are just unintelligible

25:32

screenshots and documents without dates

25:34

and signatures the concern here is that

25:36

CZ himself probably has a lot of control

25:38

over binance U.S assets which is exactly

25:41

what the SEC is trying to prevent to

25:43

prevent another FTX disaster Finance of

25:46

course argues that this is just

25:48

clickbait fud and is not true Finance

25:50

pulling a classic defense here arguing

25:53

that the sac is just conducting a

25:55

fishing Expedition quick primer on that

25:57

that's just legal code for saying that

26:00

hey we think what the SEC is asking for

26:02

is not reasonably relevant to their

26:05

scope of the investigation in response

26:07

to this the SEC is now moving to unseal

26:11

any documents that they get their hands

26:13

on from binance now this is a 4D chess

26:16

move this means that everyone will be

26:18

able to see the documents that the SEC

26:20

is actually reviewing remember the SEC

26:23

is accusing binance of a lack of

26:25

transparency by pulling this move taking

26:28

documents and then throwing them into

26:30

the public light the SEC with judicial

26:33

approval would basically be able to say

26:35

hey look world we asked this is what

26:38

they gave us here's what we asked for

26:39

here's what they gave us you make up

26:42

your own decision basically the SEC here

26:45

is trying to pull off a trial against

26:48

binance via the court of public opinion

26:51

now while it's unlikely for any major

26:53

binance fans to actually care and most

26:56

things will still get written off as Bud

26:57

especially since a lot of people people

26:59

don't like Gary Gensler or the SEC and

27:02

they're frustrated that the SEC has

27:03

taken so long to protect individuals

27:06

especially against actual fraud

27:08

especially when you look at other

27:09

companies that have collapsed the SEC

27:11

isn't here with Clean Hands either

27:14

everybody's kind of fallen behind the

27:16

eight ball and Taiwan semiconductors is

27:19

apparently nervous about demand citing

27:21

potentially a weaker economy slower

27:22

China and likely slower cell phones PCS

27:25

and durable sales this is not great for

27:28

a company like asml as well although

27:30

asml might just sell their products to

27:32

Intel since there's like a two-year wait

27:34

for asml products anyway however it did

27:37

lead stocks to slightly sell off in the

27:39

chips industry because there's concern

27:41

that all of the AI Buzz is just a big

27:44

bubble and TSM manufactures a lot of

27:47

chips especially Nvidia gpus however it

27:51

is possible that while AI is booming

27:54

which is exactly what Taiwan

27:56

semiconductors told us in their last

27:58

earnings call that that AI chip demand

28:01

from cloud service providers and

28:03

companies like Tesla Google Microsoft

28:04

Amazon otherwise is booming it's

28:07

entirely possible that other segments

28:09

are collapsing again like cell phones

28:11

PCS and durables which are things like

28:14

washing machines and well dishwashers

28:16

and we all know that real estate sales

28:19

have plummeted look in a market like

28:21

Boise real estate sales are down 74

28:24

percent year over year now that's not

28:27

prices those are nominal sales but it

28:30

just means less people are moving which

28:32

means less people are getting new

28:33

appliances and you end up with downward

28:36

pressure on across the board chip Demand

28:39

on top of that software companies

28:43

featuring AI are still struggling to

28:45

figure out how to make a profit

28:46

snowflake can't figure it out yet and

28:49

they're uncertain about the future of AI

28:51

profitability the current ones who are

28:53

making profit again are the cloud-based

28:55

ones the again Microsoft Amazon Googles

28:57

and then of course the under underlyings

29:00

like the Nvidia but look at a company

29:01

like Adobe Adobe just fell because their

29:05

AI tools weren't really boosting Revenue

29:07

they're expected to raise prices again

29:09

on November 1st which they just did 18

29:12

months ago so a lot of people are like

29:13

oh are you going to start cannibalizing

29:15

demand and then we're going to see lower

29:17

user numbers which could be a risk to a

29:20

company growing about five to maybe 10

29:22

percent projected beer industry

29:24

executives are apparently warning that

29:26

Bud Light May soon disappear from store

29:28

shelves in places like 7-Eleven quick

29:29

trip and Walmart but light sales are

29:31

already down somewhere around 27 that's

29:33

old news but some GMS of local

29:37

Anheuser-Busch Distributors are

29:39

suggesting that the boycott is lasting a

29:41

lot longer than expected maybe Bud Light

29:44

thought the woke movement might end up

29:46

blowing over but it has not in other

29:49

news some Vegas teens filmed themselves

29:52

driving a stolen vehicle into the back

29:55

of Andres prospes

29:57

bicycle as he was riding his bike on the

30:00

side of the road apparently his wife and

30:02

daughter received an Apple Watch alert

30:04

and ended up finding his lifeless body

30:07

this video obviously speaks to a greater

30:09

problem in America that people would

30:11

even find it acceptable to attack

30:13

somebody with a vehicle while they're

30:15

riding a bike it let alone film it it's

30:18

a complete disgrace and it's a sign that

30:21

our Criminal Justice System needs

30:22

substantial work now it's worth noting

30:24

that video of this bicycle attack with a

30:27

vehicle didn't surface until August 29th

30:30

of course then there's an easy way to

30:32

get popularity on social media and that

30:34

is to take screenshots of news articles

30:36

from earlier in August where people

30:39

didn't know yet that these individuals

30:41

violently attacked the biker with a car

30:43

and they throw pictures up on Twitter

30:45

going I can't believe the mainstream

30:47

media wouldn't mention that he was

30:48

attacked that data wasn't known yet at

30:51

the time the video wasn't available yet

30:53

at the time but if you want popularity

30:55

on Twitter something wild is that

30:57

community notes doesn't actually catch

30:58

up with this kind of stuff usually for a

31:00

good 48 hours and by then people have

31:03

got 20 30 40 50 000 likes making fun of

31:07

the MSM but then again I personally

31:10

think that sometimes the depth that you

31:11

get on just kind of scrolling through

31:13

Twitter

31:14

it's not that great armed man also

31:16

threatened to assassinate RFK the

31:18

individual showed up to an RFK event

31:20

dressed in a black EMS shirt but then

31:24

having a U.S Marshals badge which is

31:26

kind of weird like why would you show up

31:27

with an EMS shirt and a Marshalls badge

31:30

like at least a line to do but anyway

31:31

showed up at a Hispanic heritage event

31:34

as a U.S Marshal dressed as a U.S

31:36

Marshal with two loaded cross draw

31:39

shoulder-strapped Firearms the man

31:42

claimed to be employed for the event but

31:45

RFK security didn't recognize the

31:47

individual and immediately called LAPD

31:50

rfk's security is Gavin de Baker and

31:53

Associates it's a company that RFK hired

31:55

to protect him they do private security

31:57

some people are suggesting this

31:59

individual was so loony that maybe this

32:01

was just a marketing Stunt by Gavin de

32:03

Becker others say no RFK just

32:05

desperately wants Secret Service

32:06

protection so he's pulling stunts to try

32:08

to get secret service production those

32:10

on the right to say or those who support

32:12

RFK say no this is just the body

32:14

Administration trying to step on RFK to

32:17

prevent legitimizing his campaign and

32:19

providing him Secret Service protection

32:21

instead now here's a real person coming

32:23

to try to assassinate him who knows also

32:26

a lot of you have really appreciated my

32:28

Daily Wealth emails my Daily Wealth

32:31

emails are something you can click on

32:32

the links down below for they're totally

32:34

free and what I'm going to do now is

32:36

we're every single day my goal is at 4am

32:39

to release a bottom line report and in

32:43

the daily bottom line report which is

32:45

what you've just been watching I want to

32:47

include a snippet of the Daily Wealth

32:49

email so here's an example one of the

32:52

Daily Wealth emails we sent out was the

32:54

question how can I make sure that I'm

32:56

successful and my argument is that in

33:00

capitalism we are incentivized to come

33:03

up with new ideas

33:05

the problem is those new ideas often

33:07

come with massive inefficiencies

33:10

and the beauty about capitalism is those

33:13

who succeed are the ones who find ways

33:16

to provide value or to make things more

33:19

efficient if you start now whether you

33:23

fail fast or you equip yourself to

33:25

provide value quickly if you start now

33:28

by asking yourself what can I do to

33:29

provide more value to my company to my

33:31

boss to the company that I'm helping

33:34

start whatever you can do to ask

33:36

yourself how can I provide more value

33:38

how can I make things less inefficient

33:41

and more efficient the more of a success

33:44

you'll end up becoming this is where

33:46

some go as far in twisting Kennedy's

33:49

line and suggesting ask not what

33:52

capitalism can do for you if you want to

33:55

succeed ask what you can do for

33:59

capitalism I hope you enjoyed the bottom

34:01

line report give me some feedback in the

34:02

comments down below and we'll see you

34:04

again at 4am tomorrow why not advertise

34:06

these things that you told us here I

34:08

feel like nobody else knows about this

34:09

we'll try a little advertising and see

34:11

how it Go congratulations man you have

34:13

done so much people love you people look

34:15

up to you financial analyst and YouTuber

34:18

meet Kevin always great to get your take

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