for us today. Ron, good morning, bud. Morning, Jeff. Yep. Never a dull moment. We’re heading, I can’t believe this is the end of Q3 and Sunday

is October, but don’t blink because things are going to start heating up real soon. Yeah.

We’re already heated up, right? Yeah there they’ve been heated up. Certainly the last two months market wise have been a complete dump.

But it’s interesting just to see, just to see [00:01:00] how reactive the markets are to every piece of information. Now you can go one direction one day, one direction the

other day. That’s the infamous headline risk, even though most of these headlines are. BS

and bogus and, okay. Yeah. Okay. That’s an interesting fact, but many of these things should not be a market movers

now, of course not. Like I said, in, in lack of news, so much of this stuff is run off

of Twitter X or whatever you want to call it now, just headlines, the computers are

reacting to headlines and, then they start reacting to each other in a lot of cases. Yeah, but I think more than anything else, forget about the top 8 stocks in the S and

P. It’s the bond market that’s been truly, I would say the undercurrent that has now

become the current in the market, truly moving things around. And I think the banks. I think

a lot of the interest rate sensitive groups out there like REITs, like utilities, things

like that are definitely getting [00:02:00] depressed. What you want to watch out for is that it’s okay if the price gets depressed and their

yield goes high. What you don’t want them to say, what you don’t want to see is when they start cutting the dividend and it’s time to get out of those out of those positions.

Yeah, especially on REITs. You got to really be very careful and understand what the nature

of the REITs are. Some, some of them will be a combination of a bunch of different, especially REIT funds.

It’ll be a combination of different things. But you really got to understand what they have undercurrent and underlying and if they’re in apartments we’ve got a, we’ve got a housing

crisis. We, we don’t have enough houses or we don’t have enough housing for people. So that’s

not so bad, but shopping malls and commercial real estate, that’s all a different animal.

I do have a solution to the housing shortage. Because the commercial properties are going

to implode, they should convert these commercial buildings into apartment and condo co ops.

That’s pretty much what they’re [00:03:00] doing in New York because there’s a massive amount Of empty buildings there and that’s what they’re starting to do is convert these

over. And I’m guessing in most of the big cities, you’re going to start seeing this too. Absolutely what do we have on the pop culture side for the I want to revisit something

from May 18th. I had to go back to the podcast slides. So this just came out in the last week and I

have a follow up and a little bit of a history segue to this that I thought would be fun

and interesting. Ha. I don’t know if you saw the new article about this. This is actually

our very, this was our very first pop culture reference by the yes. I had to , so after 87 years, there was this big thing that they had to change the Wiener

mobile name, and they’re changing it to the Frank Mobile. And there was a little bit of follow up in this article that I just read about the Wienermobile. And the reason why

they did it, they said was to pay, homage to the brands a hundred. Percent beef franks and all that other [00:04:00] bs and it’s going to be a franktastic summer

Now I didn’t read a lot of this in the original article because a lot of it was focused around the name change But I thought this was interesting in the last paragraph For some trivia on political

that paul ryan Remember we talked about college students, how they were hired to drive the

automobile around. Paul Ryan did that when he was a wiener mobile driver. That’s awesome. Yes. So after 77 days

of being called the Frank mobile. They’re now going back to call it the Wienermobile.

And I thought to myself, was this the crazy right or left wing mob coming out that they

didn’t like the Wienermobile? And then I had to go back in history a little bit and I thought about it and I’m like, maybe

this was a brilliant marketing strategy. Remember a couple of years ago. I have had this whole

thing. They’re changing it to I hob because they wanted [00:05:00] to start promoting the burgers. So instead of internet house, international house of pancakes, it was international

house of burgers. And then of course, a month or two later, they went back to I hop. They just wanted to let you know they were selling burgers. I had, I’m trying to connect the dots here

with the wiener mobile. And was this really a marketing thing? So let’s go back to 1985.

Remember new Coke. And all the backlash and the executive said, my God, we weren’t smart

enough to see that so many people had the love for the original Coke and the original

recipe. And I thought to myself maybe the marketing people said, if this fails, we could always

go back and we could always run it up. And I’m thinking that maybe the Wienermobile. Took a page out of this. I wanted to get your thoughts on it and see if we can get some

comments on this. I wish to, I would hope to think that the current crop of of advertising

executives and marketing people are that bright, but I just don’t [00:06:00] think so.

At this point. I think they didn’t really think. It was that big of a deal. And it’s Oh, I don’t think there was anything nefarious with it. And I honestly think in this case,

although we made a lot of fun of it, I don’t think it was because, Oh, it was called a wiener and that’s a bad thing and all that I honestly think.

That they just were thinking, oh, okay we want to promote the be frank. So we’re going to go ahead and call it the Frank mobile, because we, most people don’t use the term

wiener anymore. But honestly, it’s something that is a, it’s an American icon at that point.

It, although I don’t think they were smart enough to figure this out, I think they created

something for themselves where they became relevant again. And the other big difference to Oscar Meyer versus Coke, Oscar Meyer had the internet.

They got all the social media. They can make things go viral. This thing with Coke went viral and within less than three months[00:07:00] they had to get rid of it, it was and also,

if you remember the whole Cola Wars, Pepsi and Coke. After they went back to the original recipe, Coke, sword past Pepsi. Oh, yeah. Because

basically Pepsi was making some inroads with them. And so they decided to create a. New

coke was basically just a copy of Pepsi, which was our sugar content. Yeah. So for people

that Like the original classic Coke. It’s okay, I don’t like Pepsi. I don’t, I will literally, if I go to a restaurant and

I say, I want to diet Coke and they say, Oh, we only have Pepsi. I will drink iced tea instead of drinking. I don’t like Pepsi. Nothing wrong with that. Everybody has their own unique

tastes. And so don’t try and take something that’s been working for many years and, and

try and massively change it. Because you want to make it similar to your competition. You have to differentiate yourself.

Yeah. I’m a sunkissed man myself. So there you go. And there is no metaphor in that.

I’m just saying. [00:08:00] All right, I’ll let you do your pop culture. We’ll get to our good economics. Yeah, I don’t have any, I don’t have any pop culture today.

I thought you had an update. I know it’s not as good as the hamster guy, but what can I

tell you? Yeah, he’s in jail right now. So I’m sure he will be back at some point. I’m sure he’s concocting another one. So he’s been on this every couple years cycle. So

we probably won’t see anything from him for until 2025. When he goes back out there with the, he keeps reconstructing the exact same thing and it’s

still not working, but this time he was, he had his most successful run, literally run.

He went 71 miles. At that point, I want that you can imagine the effort to go 71 miles.

I am trying to move in the water. Especially in the ocean. Yeah. Coming out into the current too. Cause you’re going out

where he was at. He’s like an Amelia Island. He was offshore quite a bit here. Here’s the interesting thing about that. He did that during hurricane season. Yeah. What a schmuck.

You got to be kidding me. And they wouldn’t have [00:09:00] actually found. He was doing fine. They wouldn’t have actually found him, but it was hurricane season and the Coast Guard was out searching for

hurricanes or out looking at hurricanes. Who knows if he would have gotten in front of it? He could have gone to where he wanted to.

Yeah, because that one that actually the hurricane that was out there was coming up behind him. He could have gotten just blasted out into the middle of the Atlantic, Antarctica. Only

after about 10 weeks, he might have actually been able to get out to over across the ocean

at that point. Yeah. All right. Let me share. Yeah. And then I’ll come back to my stuff. All right do share

screen. This should be it. All right. Can you see that? I can GDP. GDP. So we’re kicking

off with our economics. I was going through the econo day calendar this morning, a lot of economic data out. One of the biggest numbers this week, of course, is GDP.

This is the, what they call the second read. So there’s basically three. [00:10:00] Reads of the G D P. One of the things we covered on our last show was, we looked at the Atlanta

Fed versus the New York Fed versus the San or the was it the Salt Lake or St. Louis Fed?

They were all over the fence. Atlanta was up in the fours, like 4.69. New York. You say Louis was negative? Yeah, and

then ST louis was negative and new york was so it was like the three little bears, you know This one’s too hot. This one’s too cold. This one’s just Yes new york kind of won the

won it by being just right and their consensus was around 2. 3 Which was the consensus across the board came in at 2. 1 this morning. So it’s significantly

on the bottom end of consensus range the interesting thing that I’m looking at, and I wasn’t able

to gather this info, so I’ll share that next week is what did they revise prior previous

quarters [00:11:00] at. Because that, that this is the little weird secret of the Fed is they go back in and they

start revising things back prior. And so are they going to be revising some of the previous

GDPs down as well as we spoke about last time? Yeah, they’re still revising the GDP from

2008 9. Which makes no sense to me because what’s the point at that point, but we know

it was terrible. Yeah, it was a little bit worse than we thought. Yeah, just a little worse. Corporate profits,

we got year over year again prior was negative 9. 4 today was actually a negative 7. 8. With

inventory and consumption adjustments. It was down 4. 1 versus a prior 6. 2. What I

would say is it’s just bad continually. Corporate profits have continued to be down. It’s just a little less worse than the previous.

[00:12:00] Durable goods order. This is always the part that I start to look at and say, all right, what’s, where are we at from the order side of these durable, long term, big

ticket or, bigger ticket items prior, the prior revised interest, interestingly enough.

They’re revising these things down off of the previous ones down another 5. 6 versus

5. 2 the consensus on this one was negative 0. 3 and it came in positive 0. 2 which was

in the range, but which you could drive a truck through the range once again. But once

again this is these confusing things where consensus is, okay, this is a negative on

durable goods and then it comes up to be a positive there’s some confusing data is what I would say at this point.

It’s definitely diverse. So there’s no doubt about it. And for month to month and quarter

over quarter, it’s crazy. Now, I’ve been watching these Fed manufacturing surveys. Today’s was

the Dallery. Yesterday’s was the [00:13:00] Dallas Fed manufacturing survey. And it, prior

it was down negative 17. 2. It accelerated to negative 18. 1. At this point consensus range was negative 15. 7 to

negative point 10 or 10. 0, and this one came in at negative 18. 1. So that is accelerating.

And this is this we’ve seen consistently from New York to Richmond to Philly. Now, Dallas,

we should get Atlanta Fed next week to see now I’m not how I’m not so confident with

the Atlanta Fed because they seem to be all over the place. With their numbers, but it’s just starting to show that the manufacturing side of things

is slowing down pretty significantly Yeah across the check the ism numbers next month.

Absolutely consumer confidence so consumer confidence, consensus was about 105 came in

at 103 on the index [00:14:00] 100 is basically The flat number and so if we go below 100

on this Needs to be something to keep our eye on. It’s not good. The consumers what’s propping up our economy right now. And if they’re tapped

out and they’re not feeling, they’ve already shown a decrease in retail sales. They, this

is the interesting thing. Through the surveys, they said people are going to spend less on the holidays this year, but Halloween spending is going up.

I don’t get it. Yeah, I just don’t get maybe it’s because they started celebrating or started

selling stuff for Halloween in July. So everybody still felt good at that time. But yeah we’re

rolling into Christmas time and holidays and not good. I guess they want to be naughty

nurses, but not naughty. Santa Claus is apparently not. You then you have bad Santa on top of it. Of course we’ll

finish this up my piece of it with a little bit on the home side of the house. The real estate side is 1 of the areas that I Watch [00:15:00] because I invest in real estate.

Case Shiller home price index came in a little bit above consensus. Actually it was outside the consensus range. Little bit higher there. I think, it’s interesting

to see prices continue to stabilize, even though mortgage rates, mortgages are going

down a lot of other things in the real estate side are going down, but prices have held

up throughout this. New home sales were significantly below consensus was basically 700, 000. These came in at 675

way at the bottom end of the consensus range. Certainly significantly below the prior revised

number. And, that may be revised up, but it is significantly slowing on the new home sale

side, which has really been the place. That has been booing the real estate market up because a lot of the builders have been

doing some interesting things with financing.[00:16:00] Especially if they control their finance company,

they’ve been able to go in and maybe sell a house for a little bit higher price and then buy down the rate on the mortgage 7.

1%. Prior was up positive 0. 9. So this is something… A call with a 30 year fixed. Yep. 30 year

fixed. And, a lot of these markets are slowing down pretty significantly. It could hit 8 percent by Q1 next year. Yeah. And I think, hearing it from my Realtor buddies… It has

gotten really slow in their world. Yeah, last. That is my last slide. I think when we look at all this, what I would say

is we’re still seeing those undercurrents. And I think what we’re starting to see now

is the cracks in the consumer and the individual with. Interest rates up with, next week, we

see people’s having to start pay their, student loans back. With job [00:17:00] potentially, I think jobs are still there, but if that starts to crack,

I think we’re going to see some major cracks in this whole thing. And it’s starting to crack in at least in the home side, it’s starting to show some cracks at this point. I really

truly think it started last week and it will accelerate into next month. To get out of the Q three. I think we, we’ll definitely see a pop at the end of this year,

but I think we need to trough a little bit. And then after the pop towards the end of the year, maybe a Santa Claus rally. We’ll have to see what happens in January because

if some of the early figures start to come in about. True holiday sales being significantly lower, meaning the consumer isn’t spending. Then

we could see another down leg in in January. Yeah. But let me let me share my screen here.

Gimme one sec. No worries. Lemme know when you see it. There you go. So this came out

earlier this week. Jamie Diamond was [00:18:00] in India. Working with them on I don’t know if you saw it, but he’s going to be trying to sell Indian

bonds globally, things like that. But you know what, out of all the CEOs, you know how

much I hate the retail banks, even though Morgan is beyond a retail bank, but they’re the largest retail bank. At least Jamie diamond gives it to you straight, right?

He’s not sugarcoating anything. And I truly think that as much as he’s not sugarcoating

it, He’s also pulling back a few punches too. And he talks about 7 percent rates. My favorite

thing, and I know we’ve talked about this, all the idiot pundits that have come on to all the financial shows over the last couple of years.

Oh the terminal rate will be 5%. Yeah, we passed that. Oh, we were done in. In, in,

in May and April and May with rate hikes, we’re done. No, we’re not done. All the what

do they know? They don’t know. I understand it’s opinion based, but give me a break. If we go to 7%, if we’re already starting to bend.[00:19:00]

7 percent has got to be a breaking point. So this is what really pulled back the market

earlier this week. Things have stabilized. We’re end of weekend, a month end of quarter. So we could see a kind of a leveling off here through tomorrow. But I thought this was interesting.

I know we talked about this before. I probably show this to two other ones, but both of these have ticked up. So very quickly,

what the two are. We got the student loan moratorium lifted at the end of this month.

They’re going to have to start making payments. How much of that group also has credit card balance debt, which we know we’ve talked about to ad nauseum has already breached 1 trillion,

all the banks, the default rate is 2. 63 percent take out the top 100 banks. So you’re talking a medium sized regionals and

small banks. 7. 51 percent in a default rate, highest in over 30 years. If the default rate

is that high, I understand interest [00:20:00] penalties keeps going up. How do they expect to ever collect? Because even if they go to bankruptcy their liability on this is still

there limited, but still there. How do the banks ever expect the medium sized banks? At this point, it’s just time to cut

the credit cards, from the from that group and just say no more because you’re already having a tough time already paying us. And 7. 5 percent have already defaulted. What

are your thoughts? No, I think that, yeah. And I think that’s the difference this time from years ago is a lot of these. In the past,

most of these companies or most of these banks were using credit cards. They might have had

an arrangement with another bank on their credit cards. And I think over the last probably

5 to 6 years, more and more of these small to midsize banks started looking at this as

a profit center. For themselves and saying, Hey, you know what we can pull [00:21:00] this on. What does the future look like? There may be some consolidation. I could, I would bet money you’re going to

start seeing some of these small regionals. And, local banks just literally sell off their.

Their portfolios at a loss at that point, so that they don’t have to deal with the regulators.

I think there could be some consolidation going on in that. But yeah, or they’ll end up just selling the credit card business and the debt and let a bigger bank just deal with

it because that’s what I’m thinking. You easily could see that where they just start selling

off to the banks that can. Yeah, that can absorb these losses, and look at it as, hey, we’ll buy it at a fire sale.

We’ll deal with the defaults. But, the default rate when you look at it across our major loan portfolio is not as big as it would be for a small to mid size regional bank. I think,

with business, defaults going up with. The certainly the commercial loan [00:22:00] world, not looking really, as far as commercial

real estate, not looking really good. Now you add on this. I think the mid to read, mid to small regionals are going to be into some pretty heavy challenges or a lot of headwinds

going forward. Yeah, I agree. That’s a good point and. Because I, this obviously is a part of this because everybody on Amazon

for the most part is using a credit card or they’re using some other type of digital payment.

Now I thought, look, I’m not saying Amazon has done everything great and wonderful. They’ve already proven over time that, they’ve tweaked their algorithms a little bit when people

have searched for items. But I thought this was interesting because why is the FTC going after Amazon and not

Walmart? Let me explain. Walmart, at least for 20 years that I could remember has been

10 percent of the retail market, 10%, one, one out of every [00:23:00] 10, walmart has

controlled that and they have basically had complete control over all the suppliers.

Procter and Gamble has a second headquarters down the street of the Walmart headquarters

in Bentonville, Arkansas. That’s how much. Procter and Gamble does with Walmart. My point

is Amazon by total sales is less than Walmart, but Amazon has an illegal monopoly. Right

now, Amazon and walmart. com, not the brick and mortar stores. By far, they’re doing more e commerce of goods. That

probably all the others combined. I don’t have the exact numbers. So my whole point is why aren’t they going after Walmart here? There’s got to be some other obviously political

reason why they’re not doing it. And I think the funny part about it is. That Walmart’s made it or Amazon’s made it so much

easier with their purchase of whole foods.[00:24:00] They basically got on the ground, if you want

food delivered to your house, if you want, basically sundry goods and all that stuff delivered.

Boom. You can get it. Somebody made a great point of it. The other day I was watching on the news and they were talking about, in your former hometown of Philly. They’re what

targets closing like 9 stores. CVS is closing like 500 stores nationwide and it’s all because

of retail theft. At this point, and all these big cities, I think it’s getting to the point and, you go

into some of these, I’ve been to Philly in the last year. I’ve been to Seattle in the last year. You go into a CVS and either of those towns and it’s literally, they’ve got

everything locked up in cabinets. Okay, great.

Now it’s okay, I’ve got to go find an associate. Who’s probably not the nicest person I’ve ever dealt with some of them are but they’re grumpy because they got to keep going around

and doing all this [00:25:00] Yeah, every employee is a security guard or here’s the

funny thing because we’ve talked about this a few times I said to myself unless they’re coming in and targeting less than 750 goods knowing they’re not going to be prosecuted

Is it just a grab and go and I was? Listening to a couple of interviews and these thieves are coming in with calculators and

they’re going around the store with a wagon and they’re calculating up to 700 up to 747

25 in the wagons and just walking out and then they show the calculator. The security

guard are up to the camera. It’s under seven. What? What is going on here that this is even allowed? And people that are working hard

are going, why am I working? Why am I working so hard to pay for this? I could go in and take 700 worth of goods without being thrown in jail. Absolutely. And then they go and

turn around, sell it on, Facebook marketplace and. Make money from it right away. I’m not even allowing this in [00:26:00] communist nations.

This is just, this is insane. It’s just it’s not because I look at it too. I’m like, I

was watching the, there were some surveillance video and they were showing this guy literally trying to drag out the front door.

A like 70 inch TV and a box and he’s fighting with the security guards who are trying to

take it away from him and he’s just grabbing it and trying to pull it. It’s it’s just brazen at this point. And why you would have a security guard, some of these cities. If you continue

to vote for the idiots that are running some of these cities that are saying, okay we’re going to have cashless bail and we’re going to.

We’re not going to prosecute people if it’s under seven, then you deserve whatever you voted for. I’m sorry. Yeah, the whole idea is what is it costing you versus putting that

into the court system for more judges and things like that. And so people could feel safer. All right. All right. We beat this to death.

All right. So anyway, that was my last thing. I want to see how that pans out [00:27:00]

with Amazon. I didn’t hear all the specifics, the FTC chair, I won’t even say her name,

has lost every big case that she’s tried to bring in the last couple of years. I can’t believe she would actually win this one.

I, yeah, I don’t see Amazon as a monopoly. Literally my wife and I have been shopping,

I think, and you go to a lot of stores nowadays and they just don’t have a whole lot of inventory

on the shelves. We, our target just got redone. In our area and we were walking around. She

was looking for 1 or 2 things that normally she’d be able to find and they don’t they aren’t carrying it.

And literally, I’ve got my phone and, it’s okay let’s just go on Amazon. Okay. They’ve got it. Boom. Boom. Boom. Order it. I have it at my house by the time I get back virtually.

In a lot of cases. You know what? It’s all about convenience. And Amazon has my credit card information.

They’ve got my addresses and everything else. So all I have to do is go on, find the item, buy it right away. It’s all about convenience. It’s not about them monopolizing. And I will

tell you three years ago, there [00:28:00] was a couple of things either I couldn’t find on Amazon or I thought they were pretty high priced.

I went on the walmart. com and it was cheaper. Yeah, and I think a lot of people are just

institutionalized and Amazon. They don’t even go to walmart. com because walmart. com sells

a lot of stuff. They don’t even put in their stores. Absolutely. They’re just drop. Yeah. And they typically have kind of the lower end what I would consider the lower end items.

At the stores, that’s where they’ll have for, because I think a lot of people that go into the stores are like, I don’t want to go online. I don’t want to do all this stuff. Or you

got a lot of people that tend to pay cash and those type of things. And so they’re going in and it’s just okay, I’m going to pay cash here.

It’s hard for me to do that online. But yeah, I agree with you. So many times I’ve looked and I try to find something on Amazon, couldn’t find it. And then I’ll do a Google search.

And that Google shopping and, Walmart’s there to play in a lot of instances. And I will tell you, it’s been a bit forgotten, but you’ll see it every now and then, cause they don’t

do any more TV [00:29:00] commercials. eBay is still a powerhouse. Yep. You could still find stuff on there because it’s not

just an auction site anymore. People have storefronts on there. I know people that sell a lot of stuff on Amazon, but they also have a storefront on Etsy or or with I’m sorry,

eBay and other ones, they still do that eBay is still out there and you can still get great

deals on there. And eBay’s shifted. It’s really actually more of a, an e commerce site now than it is that,

it’s almost a rarity. If you search for especially anything that’s, let’s say a little bit higher end product, I’m buying a computer or something like that. And I look on eBay. There, it’ll

be like seven listings of people that are basically just selling a newer refurbished computer.

And they’re just selling it for a price, not the auction piece of it, because people want to transact business and get it done right away. And I will tell you, I’ve owned, in

the past I owned an Amazon store and I owned an eBay store. And by the end we had shifted

[00:30:00] mostly to being on eBay because it was just so much easier to deal with. The only problem with it was. We had to, if we sold anything on the eBay store, I had

to ship it. So I was literally like, okay, I had to box all this crap up, go to the post

office. On Monday we’d box it up over the weekend, drag it to the post office where the convenience of Amazon was. I could just ship all the crap up to Amazon and they dealt

with it. And I would just split. And that’s why Amazon charges a 30 plus percent VIG. To basically

let you be, let it be hands off to you other than you mark buying. Cause I didn’t want to be a storage facility for a lot of the stuff that we were selling at the time. Honestly,

I think the world is changing and a lot of these physical stores between all the problems

with that we’re having with crime and the fact that they just. Can’t store enough in those spaces. They’re going to be a showroom for the nicer items

or the [00:31:00] higher, higher profitability type of things. And a lot of the just sundry

goods can easily be purchased through Amazon or Walmart and, they’ll deliver within a day

in most cases. We were on this podcast and I actually just remembered to order something and popped it into.

In the Amazon, because I already had saved in my thing, not that I wasn’t paying attention,

but, it’s just, it’s one of those things where I see you drifting off every now and then it’s I’m, I’m on here, buying my fuzzy bunny slippers and everything else. And but still

can keep talking while I’m doing it. But like I said, I think the world is changing and, the FTC trying to go after Amazon for

being the convenience store for the world. I think it’s beyond that. Look, they couldn’t

just break. I got to look into this a little bit more. I want to know. I have a feeling it has to do with the prime membership.

Yeah, I have a feeling. It’s you’re locking people in that they can only buy. No, you have a choice whether you want to buy. An item that is a prime item and not pay shipping

[00:32:00] or not. I don’t know. I got to look into it, but it’ll see, because obviously this will be a foundation for a Walmart or anybody else.

If they win, I just can’t imagine them winning and their batting average stinks. Go after

real monopolies, go after companies that are truly egregious in their activities. Look,

nobody does it perfectly. And certainly Amazon. Look all the crap with Facebook over the years and all the information they collect.

Google, I don’t know if people know this, but even since day one that Google started,

they have stored and tracked every search that everybody has ever done on Google. Amazon

does the same thing. That’s where they’re getting all their business and their business analytics. And they’re going to apply AI that to the future where it’ll create your own

wishlist. It’s going to happen. And honestly, it should happen. I want them to do that because a lot

of times they find things for me that I would have never found in any way, shape or form.

And, the way I look at it is, yes, is Amazon perfect?[00:33:00] No, no business is, but

it also gives a platform for a massive amount of small businesses.

Yes. To build a business without having to build all the infrastructure, yes, Amazon

sells things as direct products and sometimes they take things that, somebody else has been

doing or one of their sellers is doing and they copy and then, undercut. But in the most

cases, the people that you’re buying from on Amazon are just small businesses like mine

used to be. That’s how eBay truly got their traction was, became the world’s largest flea market. Essentially

that’s what it was, but people actually were selling new goods on their non used goods. That’s what I’m trying to say. Yeah, exactly. And once again, it’s an opportunity for people

and I am the. champion of people starting a business. My whole company is based around the fact that

I’m helping people try and find their freedom. This is a wonderful [00:34:00] opportunity where you don’t have to build the infrastructure and everything else. So you know what? FTC,

leave them alone. Let’s, the only people you’re hurting are small businesses. Yeah, the only people you’re hurting are small businesses in most cases when you start to

regulate and go crazy at this. So that only means our prime membership fee is going to keep going up. Yeah, no kidding. Yeah. Cause they’re going to have to pay for all the legal

fees of fighting the stupid government at this point. Exactly. Exactly. Let’s just stay out of the business and you guys just try and find issues

that are real issues instead of ones that hit headlines. I hear you. Until next week, we’ll have some more data. And we’ll start the new quarter real fresh. We’ll give a market

outlook and we’ll get in all the nitty gritty. And hopefully we’ll get out of this week, which has just been absolutely ugly and atrocious.

So folks, we’ll see you back here next week. We do these shows every Thursday for you.

Make sure you keep an eye out for them, hit that subscribe button. And if you would, we would appreciate it. If you’d hit that little up arrow or that [00:35:00] up thumb.

And we’re going to announce the next phase of the sense of things, which is we are going

to begin to produce these podcasts as an actual podcast as well. Whether you want to watch

them, whether you want to listen to what we’re saying. We’ll be doing that here starting next week in the October realm, and we’ll be out on all the major podcast channels.

So thanks a lot, and we’ll see you guys back here the very next time. ​