Fuld transskription af An October Surprise

of touch with where most people in that state are. Most people in that state are not going to be for socialized medicine, government-run health care. Most people in that state are not going to be for increased tax burdens on working families. Most people are not going to be for the kinds of things that he's talked about. And then you add to that some dimensionality around, you know, his, his comments in the past, his association with, uh, Hassan Piker, the crazy progressive streamer. And, and you end up with a formula that I think will, will end up really harming him in the stretch run. Now, does that mean I think Mike Rogers is going to win that race? I don't know. That race is going to be really, really close, but I do think that a lot of the shine is worn off of Al Saeed for sure. 00:03:28 Speaker 3: Clearly, Election Day or election night, we're likely to have like a half dozen Senate races that are going to be really close. And who knows which direction are going to go? Although it was pretty interesting. You said on Meet the Press the other day, you think Paxson's going to win in Texas. Why do you think that? 00:03:43 Speaker 6: Well, yeah, first of all, the fact that the Senate's even competitive at all is quite remarkable if you think about it. 00:03:49 Speaker 2: Right. 00:03:49 Speaker 6: Because the states that Democrats needed to be able to turn over to get to a Democratic Senate. are all states that President Trump won and won with pretty handy margins. You talk about places like Ohio and Iowa and Alaska and, of course, Texas, where the president won by 14 points. And the point I was making about Paxton was simply that I think there's a certain amount of basic math in Texas. Now, that math has changed a little bit as the population of Texas has changed. But you have to believe that essentially there is going to be such a significant swing in the electorate that you're wiping out both the advantage that President Trump had, but the advantage that registered Republicans have in Texas. And, you know, the theory that others go with is just that, you know, Paxton's a really bad candidate, he's got some really bad baggage, and that's all true. He has horrible baggage, and he's not a great candidate, and he seems to be a little bit lazy, too. All that being said, there are just, you'd have to believe that Democrats would historically outperform their vote share in parts of the state like the South Plains and the panhandle of Texas in order to believe that the Democrat, Talrico, is going to be able to win. And I just think that the numbers are still there, just barely. The numbers are still there for Paxton, even with all of the in-migration, all the other stuff. So, I mean, it's going to be a close race. And I think the Republican who's running for governor there is going to do much better than Paxton will in the Senate race. But all that being said, I just think he's got enough people in Texas to get him over the finish line. 00:05:23 Speaker 3: So here's something I don't fully understand, and I'm sure you do. So if the Democrats take the House but don't have the Senate, what does that mean for the next two years? If the Democrats take the House and the Senate, what does that mean for the next two years? A couple of things. 00:05:41 Speaker 6: The biggest difference in the Democrats taking the Senate or not taking the Senate will be to confirming the president's nominees. So the president's going to nominate people to executive positions in his administration. He's going to nominate judges, which has been actually one of the biggest legacies of the six years of the Trump presidency. All of those nominations are going to get stopped by the Democrats. Very, very few people are going to get through if the Democrats control the Senate versus just controlling the House. The other thing the Democrats can do if they control the Senate is they can pass legislation because they'll have majority, you know, working majorities potentially in the Senate and the House. Now, they won't have 60 votes in the Senate, which is usually what you need to pass legislation. But they'll have enough to do some bare amount of legislative activity. And that activity is then going to go to Trump and Trump's going to veto it. So it's going to create maybe not a difference in outcome, but a difference certainly in the level of conflict potentially on legislative matters. The only thing I'll say about this, Jack, is I think it doesn't really matter. Actually, if Democrats take the Senate at the end of the day. What really matters is if they take one chamber, which is the House, and it looks like they're going to take that one chamber, they are going to use that as a launching pad for investigations against the president and the administration and against companies that did work with the president and against the president's family, the president's pets, if he has any. I mean, they're going to investigate everything. It only takes one chamber to do that. 00:07:12 Speaker 3: Which is why Joe and I are taking two years off, and we're going to do something, learn pottery or something, and then come back. Because, I mean, that's going to be a drag, man, the never-ending investigations. So I don't remember. Well, do you think they'll go full-on impeachment? I've read various think pieces from Democrats where they think, oh, right off the bat, we've got to start impeaching this guy. Or others that say people are tired of that. That's not the best road for us to go down. Do you think they'll impeach? 00:07:38 Speaker 2: You know, it depends on. 00:07:40 Speaker 6: It's like the devil and the angel on your shoulder, right? Do you listen to the devil or do you listen to the angel? Just strictly from a political perspective, I'm not going to. you know, opine on whether and how they should do it. But my point is that I think that there are some number of Democrats who just say, you know what, it feels good. Let's just

do it. 00:07:58 Speaker 3: Let's impeach him again. 00:08:01 Speaker 6: And those who are thinking about the long-term health of the Democratic Party and their ability to be competitive, for example, in the 2028 presidential election, I think that that depends on them taking a more measured route and one that doesn't fixate on Trump but instead fixates on what is their agenda. 00:08:17 Speaker 3: I think that crowd's right. I think the country would react very poorly to another impeachment. 00:08:22 Speaker 2: Probably. 00:08:23 Speaker 3: Oh, my God. 00:08:24 Speaker 2: We're sick of it. 00:08:24 Speaker 6: People are sick of it. I mean, you know, Trump is going to be gone in two years. And a lot of people already are more than familiar with Trump's downsides and the things they don't like about him. And, you know, the big question going into this election, and I think going into the next several elections, is what do the Democrats actually stand for beyond being the party of not Trump? Because that's pretty much in every single campaign, whether it's California or anywhere else. They basically just stand up and say, oh, by the way, I'm not Donald Trump. I mean, I see these ads for people in California saying, And other states. And it's like, whether you win or not, and whatever you do, it's got nothing to do with Donald Trump. There's nothing in your job title or description that has anything to do with Donald Trump. And that's all they've been talking about for the last, since 2016. So they've got a real challenge, which is what are they going to be for as we look ahead? And I think that's what they should focus on. 00:09:19 Speaker 3: Well, I've quoted you a bunch of times since the last time we had you on, on the whole, don't be surprised if AOC's the candidate. That's what's going to be the most interesting thing to me. Are they going to decide to double down on all the energy of the youth and the people with too many degrees who want socialism? Are they going to actually take a swing at that or not? And I can't... I'm not that interested in all these midterm races. I am super interested in who who's going to emerge as a nominee for the Democratic Party. 00:09:48 Speaker 6: Yeah, I'm fascinated by that, too. And I think the reason why AOC has a level of interest, at least as I look at the contest, is because she actually you know, there are actually things that she says she's for now. we i personally disagree with pretty much all of what she's for but at least she talks about some agenda right she talks about increases to increasing taxes and socialized medicine and wanting to make sure that government gets more involved in people's lives she's got a point of view about all of that And at the very least, whether you agree or disagree, that is an agenda. And I think she's also, you know, a pretty compelling messenger because she knows how to talk about that agenda. So it's going to be incumbent upon Democrats to figure out what it is they're

actually for. And I think that's going to be the definitional question of the next couple of years. 00:10:37 Speaker 3: And that all starts right away. Oh, I don't know if you saw this. Mark Halpern wrote the other day that his sources are showing him that Pete Buttigieg is all in on kneecapping Gavin Newsom hard and early to make sure he doesn't even get out of the gate. That's exciting. 00:10:54 Speaker 6: Oh, it's so funny. You know, Jack, I was, I was actually on television the other day and, and Buttigieg did the interview right before me. And I almost fell asleep during that interview. I mean, I, I, you could not find a, a more bland kind of dry interview. Now, Look, in some ways, it's because he's got a lot of ideas and he wants to talk about those ideas. But if he wants to kneecap Gavin Newsom, go right ahead and try. I mean, I think that's going to be a very difficult endeavor because I think Newsom is still going to be a fairly significant candidate in the 2028 race for the Democrats. And I think a lot of people know who he is. He's been governor of the biggest state in the country. And a lot of Democrats like the way he's taking the fight to Trump. So it's not going to be that easy to kneecap him if that's what Buttigieg does. And certainly not with the Buttigieg energy that he projected on that interview the other day. 00:11:41 Speaker 2: Holy cow. 00:11:44 Speaker 3: And before we let you go. So, Gavin, do you think Gavin has chosen a lane or is he waiting to see how things shake out? If he should tack toward the, you know, the woke communist progressive crowd or like mainstream Democrat? Do you think he's waiting to see which way the party wants? 00:12:01 Speaker 6: That's a great question and actually a super insightful observation because a lot of people have assumed, look, Newsom, he's going to run on this platform or that. I don't actually think we know yet. And I think you're right that he's waiting because he's got some optionality. Does he want to be San Francisco Gavin? Or does he want to be very occasional Sacramento Gavin, dealmaker Gavin? 00:12:25 Speaker 3: I think he could be either. 00:12:26 Speaker 6: He could be either depending on what he needs to be. 00:12:28 Speaker 3: Yeah, that's that's an interesting one, too. I'd love to be in those meetings where they're like reading the tea leaves on that. 00:12:34 Speaker 6: Yeah, yeah. And a lot of it will depend on how the electorate shakes that into your point. Does the energy behind this democratic socialist movement continue to grow? And if it does, boy, you're going to start seeing some images of Gavin from his time as mayor. And he was the progressive champion and yada, yada, yada. If it moves in the other direction, you're going to say you're going to see someone who talks about all of the things he did to, you know, whatever, increase. 00:12:57 Speaker 3: Nobody says Latinx. You know, he'll be that guy. 00:13:00 Speaker 6: I've never said that. So anyway, it'll be

interesting. But I'll tell you what, you're absolutely right, Jack. The day after the midterm elections, November 4th, so in just two weeks, we're going to have the start of the 2028 presidential primary. 00:13:15 Speaker 3: Buckle up. It's coming. That I am interested in. Lonny Heachin, thanks for your time, is always the director of domestic policy studies at Stanford University and an all-around great guy. Thanks, Lonny. Thank you. Have a good one. Yeah, that is interesting. Is he going to go woke or is he going to go mainstream? And he doesn't know himself yet. I'll bet. We want to tell you about our friends at Blue Collar Dollar before we take a break. Great name and a great service for anyone looking for down to earth straight talk about financial planning. We're talking like, you know, regular people who have regular conversations who don't drink, who don't eat caviar. That's what we're talking about. you should make a call to Blue Collar Dollar and have a real conversation about your financial future. The consultation is complimentary if you've saved $ 250, 000 or more. No obligation at all. In just a couple of minutes, it's all it takes to get started to work with people who understand your way of life and the value of your time. They make it super easy. Just dial pound 250 on your cell phone and at the prompt say Blue Collar Dollar. Pound 250, then say Blue Collar Dollar. Take control of your financial future. Call Blue Collar Dollar, pound 250, Blue Collar Dollar. 00:14:17 Speaker 1: Armstrong and Getty are not clients of Talon. They are paid endorsers and receive compensation for this endorsement, which creates a financial incentive to promote Talon. Advisory services are offered through Talon, LLC, and SEC-registered investment advisor. Learn more at bluecollardollar.com. Armstrong and Getty. 00:14:46 Speaker 2: The Armstrong and Getty Show. 00:14:50 Speaker 3: Ah, man, I don't want to do this. I don't want to do this. I feel like if Joe were here, he might talk us out of it. Joe's not here, so I have to make the decision on my own. There is an October surprise that has just broken around Lindsey Graham. Lindsey Graham. Headline on Lindsey Graham is he's dead. He's not running for office. His sister's running for office. Have you seen the breaking news, Katie? 00:15:18 Speaker 7: Is this, are we hitting like the hashtag too soon thing? 00:15:21 Speaker 3: Well, no, no. Well, so this, this is what's breaking. Lindsey Graham paid off three male escorts, including one who was 17 at the time. Explosive documentary alleges. Now this comes out of the young Turks. I don't know if you know their act, but they are. Hassan Piker was a young Turks guy and, It's very popular with the young crowd, but a lot of crazy stuff that turns out to not to be true. So I feel a little dirty about even bringing this up, helping promote this story. The other side of this would be that it's exploding on social media and it's going to be all over the place. I don't know if Fox will ever cover it or respond to it or if the. like ABC News would talk about it or whatever. We're going to play a little bit from the documentary in just a second. One response from one of my political pundits was, this is your big October surprise that Lindsey Graham was gay? First, this is not surprising. Secondly, he's dead, which is a good point. Here's a little bit from the documentary, using my finger quotes, that in theory features one of the dudes that had sex with Lindsey Graham. 00:16:28 Speaker 8: My name is Kelvin. 00:16:29 Speaker 3: I had sex with Lindsey Graham when I was 17. 00:16:32 Speaker 6: You're aware of a lot of anonymous comments made by people that may be afraid of a powerful senator. 00:16:37 Speaker 2: Regarding your sexuality? 00:16:39 Speaker 6: This is different to me. 00:16:40 Speaker 3: He's like, I really like to be degraded. The more degrading, the better. 00:16:43 Speaker 6: I believe elected officials should make those decisions when it comes to life and when it. 00:16:47 Speaker 3: Comes to marriage. He's like, I want you to state out loud again how old you are. Chelsea Handler put out a tweet about you, referring to you as National Coming Out Day. 00:16:56 Speaker 6: Three countries say what you want to say. 00:16:58 Speaker 8: I don't care. 00:16:58 Speaker 2: She knows zero about me. 00:17:00 Speaker 3: I'm not gay. 00:17:01 Speaker 6: Gave me $ 260 and my rate was $ 250. I did not have change on me for the 20, so I just kept the rest. 00:17:12 Speaker 3: So I was a Lindsey Graham fan. I didn't agree with all of his aggressive hawkishness, but most of it. And so he died unexpectedly. Hart gave out on him. His sister, I don't think this was a good idea, but ended up being the nominee because Trump put the thumb on the scale for that. But she is likely to win in South Carolina, although it's a close enough race that Trump was in South Carolina last night giving a speech. And now this drops. I don't know how South Carolina voters will react to this. I don't know what the pushback will be. That guy on that documentary better have lawyers because I assume the Graham people or the Republican Party or somebody is going to go after him and sue him because you can't just go around making claims like that. Oh, yeah. Lawyers and proof. Lawyers and proof. So we'll be hearing more about this throughout the day. I think if we don't hear anything about it and you ended up only hearing it here, I am going to feel really bad about myself because we shouldn't be putting out there crap. 00:18:13 Speaker 7: That was information, Jack. You were not putting out news. You're just letting everyone know what's happening. 00:18:18 Speaker 3: Yeah. You're fine. I didn't know Lindsey Graham had ever stated unequivocally he's not gay. Not that it matters. But anyway, that's that. Now you know that. Aren't you happy? 00:18:30 Speaker 1: Armstrong and Getty. 00:18:31 Speaker 5: The Armstrong and Getty Show. 00:18:57

Speaker 3: He's a CapTrust financial advisor. He's given me lots of advice over the years. He's Kelly Brothers. Welcome back to the Armstrong and Getty Show, Kelly. 00:19:05 Speaker 2: Jack, great to be on with you, my friend. Thanks so much. 00:19:08 Speaker 3: Quick question. When does the AI stock bubble burst? If you could give me a time and a day, that would be very handy. 00:19:16 Speaker 9: You know, I think you had me on back in, like, 09, and you asked, when does this turn? 00:19:22 Speaker 2: And I said, like, August 23rd, 2 p.m. And I wasn't far off. I wasn't far off, I must say. 00:19:29 Speaker 9: You know, it depends on what piece of the AI bubble you want to see bursting. On the one hand, as much as the market has gone up this year, Earnings have gone up more. 00:19:42 Speaker 2: On the other hand, the one thing that does bother me. 00:19:43 Speaker 9: Is the incestuousness of all this, where you have Nvidia loaning money to companies so that they can buy NVIDIA chips, and there's just a lot of incest going on financially. That doesn't feel right, but so far I'm not too worried about it. 00:20:00 Speaker 3: So that means these AI companies are actually making money then? 00:20:04 Speaker 9: Oh, they're, oh my God, they're making, yeah, this is not, this is not 2000 all over again. 00:20:08 Speaker 2: This is not, oh, what could happen? 00:20:10 Speaker 9: This is real money coming in and it's astounding some of the numbers for NVIDIA and Microsoft and Amazon and on and on down the line. They're making real money. Even, you know, even Intel has bounced back nicely and they're trying to ramp up as fast as they can. 00:20:29 Speaker 2: These fab plants in Ohio and Arizona. 00:20:31 Speaker 9: Are, uh to to begin manufacturing in this country which is of course part of the trump platform um and they got a lot of government money to do that or a big government investment i should say but no the earnings are. 00:20:44 Speaker 3: Real well okay cool that that's a big deal because like pets.com or whatever that website was you know all those examples from the dot-com era they never made a cent they never even really existed And they were and. 00:20:56 Speaker 9: They were they were even doing multiples of sales. And this is multiples of earnings. Remember, you know, you have revenues, which is the money you bring in. And they were trying to extrapolate, do multiples on that. But that is not OK. Now, what are your actual earnings? So subtract off everything it takes to actually the cost of goods sold. 00:21:14 Speaker 2: What is the cost to make what you're doing and what are your earnings? 00:21:17 Speaker 9: These are These are real earnings that are growing at incredible rates and in some cases still accelerating for some of these companies. You know, you know, yesterday there was a lot of talk about SpaceX and Tesla merging. And oh, man, what a behemoth that would be. Well, that would at today's valuation, that would create a three and

a half trillion dollar company if the two were to merge. 00:21:42 Speaker 2: NVIDIA and Apple are both above five trillion. So, yeah. These are big companies. 00:21:46 Speaker 9: And by the way, you know, that's kind of an interesting point, too, Jack, I like to bring up. If you look at the number of publicly traded stocks that are out there today versus going. 00:21:57 Speaker 2: Back 25, 26 years. 00:22:00 Speaker 9: Today, there's about 60 percent as many publicly traded stocks as there were 26 years ago. 00:22:06 Speaker 2: Wow. So the number of publicly traded companies is shrinking. Why is that? 00:22:11 Speaker 9: Because it's easier to stay private. You don't have you don't have the same level of regulation. You don't have to report earnings every quarter. You can get private financing regularly. So the companies are bigger today, but there's fewer of them. And that worries me a little bit over the long haul because you have more and more people saving for retirement and they're chasing fewer companies. 00:22:32 Speaker 3: Yeah, I don't want to get up on this topic, but I've always been interested on the, you know, do we need to go back to the old days where you don't have to have these quarterly earnings reports that you put out all the time and how it drives a short term thinking and all that sort of stuff. But that's a. That's a complicated topic. 00:22:46 Speaker 9: It is, but it's real because most good CEOs, they take a five to 10 year view or a 30 year view in the. 00:22:53 Speaker 2: Case of Warren Buffett. 00:22:55 Speaker 9: And you're right, the CEOs today, they have to take a 90 day view. 00:23:00 Speaker 3: So this is not a like investment question so much as just like talking to a smart guy like you who understands the world. How do you see, when you hear the AI giant's Elon reading leading the way talking about, well, we'll have so much stuff. We don't even need money. I mean, the age of abundance and, and universal high income. And, you know, everybody will just have enough money to live and everything like that. 00:23:26 Speaker 2: What? 00:23:26 Speaker 3: I never hear anybody describe the mechanism for how that would work. Who's taking the money from these companies, then giving it out to who, how, I mean, how do you have any guess how that's going to work? If it's going to work. 00:23:39 Speaker 9: The state of California just raised its hand. You know, basically, California wants to take that money and then decide how it should be doled out and to whom. And I've never heard a good explanation either, Jack, when he talks about, you know, kind of that universal ultra high income where everyone just gets a check. I, I, some, someone has to do some work somewhere. Um, and, and how much, you know, how much are you going to have to pay your electrician, uh, to, to do what he does or she does or your plumber, if they can sit on a couch and just collect a check. 00:24:18 Speaker 3: Right. Yeah. Yeah, exactly. There's that. And then, um, It almost seems like the government would have to be taking the money because it's hard to imagine. Now, Elon, I want to talk more about this whole Elon giving every kid a SpaceX, you know, or whatever in a second. But we have to count on the AI companies to just be generous. So, yeah, they're just going to give money back just because they like to that, that, you know, that goes against like the history of the free market, really. 00:24:46 Speaker 2: It does. 00:24:46 Speaker 9: But I think we're in this really very interesting place, Jack, where we'll look back and, you know, any time the income disparity kind of reaches where it is today, if you go back in history, between the gap between the. 00:25:00 Speaker 2: Top and the bottom on the income scale, you know. 00:25:03 Speaker 9: That usually leads to some form of revolution, whether it's the French Revolution or what. I mean, it just when the gap is that wide, that's when the seeds of revolution are kind of And we're seeing that already. We're seeing that with the rise of socialists and communists and and them actually getting traction because people are like, I don't understand this. 00:25:26 Speaker 2: Why are they so rich? And I I'm having trouble paying my bills. 00:25:30 Speaker 9: So having having said all that, you know, that that tension, I think, is leading, for example, anthropic. 00:25:39 Speaker 2: Anthropic is a huge AI company. 00:25:42 Speaker 9: It's going to go public in the next four weeks. It's probably going to go public at a $ 2 trillion valuation. It'll be the largest IPO ever in terms of that, surpassing SpaceX. And they have already said we're going to take 5%. or the value of the company and put it into a fund for the public good. Now, what that means, no one exactly knows it. They've talked about how they want to help smooth the way for those whose lives or careers are disrupted by AI to retrain them. 00:26:13 Speaker 6: Okay. 00:26:14 Speaker 3: How do you nail that down also? And we keep saying, when does it start? There's thousands of people that have already lost their jobs to AI. When does this doling out the money begin? 00:26:23 Speaker 9: Yeah. 00:26:24 Speaker 2: And I don't know. And I'm sure they're not going to have a fun. 00:26:27 Speaker 9: I mean, If I were to sit all the billionaires in a room and give them PR advice, it would be give and give conspicuously. 00:26:38 Speaker 2: This whole idea that you. 00:26:40 Speaker 9: Can take $ 100 million of your company stock and stick it into your family foundation so that your niece has a job for the next three years, that doesn't work. You need to be putting your name on hospitals and bridges and schools and Give conspicuously. 00:26:57 Speaker 2: And not enough of them are doing that. 00:27:01 Speaker 9: And there's going to be a shakeup in the way that money is doled out. Whether it just ends up being a check in your mailbox every month, Jack, I just don't see how it happens either.

00:27:11 Speaker 3: Well, so that's interesting. I hadn't heard the anthropic thing. So Elon announced the other day he was going to give every kid next year, what, a share of SpaceX or something like that? 00:27:19 Speaker 9: A share of SpaceX, and he has more than enough to do it. And, you know, I think there's a place here, given. 00:27:30 Speaker 9: Given billionaires' needs to give conspicuously, there's a spot here where maybe imagine a situation where when a child is born, he or she gets a social security number and gets an account. It could be Vanguard or Fidelity or whatever, but it's just an account is opened in their name. And then that is sitting there when a Michael Dell comes along and says, hey, I want to put $ 500 in every kid's account in the country. Or Elon Musk says, I want to put a share of SpaceX in. I want to do more next year because he said that, too. So this is just the beginning. But how do you do it? There isn't a mechanism in place. So and that and then then you just put some rules on that, like. You know, that can be used for education. It could be used for a down payment on your first house or at the age of 25, it becomes your money. 00:28:19 Speaker 2: You can do whatever the heck you want with it. 00:28:21 Speaker 3: And then you get to the politics of it, like you were talking about. So what would you say? Anthropic said they'll do 5%. Well, if the public howls, 5% is not enough. Look how rich you are. 00:28:33 Speaker 2: Yeah, that could be $ 50 billion, though, in Anthropic. Sure. 00:28:38 Speaker 9: But they don't know how that's doled out. I'm saying if each kid is getting traction in a little account, people will know that. 00:28:44 Speaker 2: Money is coming in. 00:28:47 Speaker 9: So I think there's something there in terms of a. 00:28:53 Speaker 9: You know, a wealth redistribution, but I think billionaires are underestimating the PR hole that they're in. 00:29:00 Speaker 2: Yeah. 00:29:00 Speaker 9: They, you know, the wealth tax in California is a mistake because, because billionaires are the most. 00:29:05 Speaker 2: Mobile people on the planet. 00:29:06 Speaker 3: Of course they are. 00:29:07 Speaker 2: They can live anywhere. They could live on their boat. Starting tomorrow. 00:29:11 Speaker 9: Go Bay and not pay. You know, I mean, that's, you know, now, granted, they need a burner phone and someone else's credit card. But but but and as a matter of fact, yesterday, the Hoover Institute came out and said, hey, the wealth tax, if passed, not only will it not make California money, it'll cost California 40 billion because because of the not here's the death spiral for California. Jack would be not just if Mark Zuckerberg leaves. California, but if Mark Zuckerberg, as discussions clearly have happened now with Facebook, if he convinces the board at Facebook, listen, it's not just me. A lot of you guys are billionaires because of Facebook stock, too. It's time we move the headquarters of the company. That's when it gets really ugly. Yeah. 00:29:58 Speaker 3: Uh, no kidding. No kidding. 00:30:00 Speaker 2: Wow. 00:30:01 Speaker 3: Um, all that stuff is so fascinating. So I got to believe that a lot of the things you're dealing with as a guy giving out financial advice doesn't really fit in with what you studied in school, does it? I mean, aren't we into kind of a new world of some of this stuff? 00:30:17 Speaker 2: Um, we are, and it's on a number of different fronts, Jack. I mean, imagine, Imagine. 00:30:24 Speaker 9: That AI is everything we think it is, and imagine that AI helps us cure cancer. And now imagine that they come out and they have the Nobel Prize goes to this doctor who found the key to unlocking the cure. 00:30:39 Speaker 2: To cancer, which we know we're getting closer to on a number of fronts. Thank God. 00:30:45 Speaker 9: And imagine that person on your show and other shows and. 00:30:49 Speaker 2: Given the Presidential Medal of Honor. 00:30:51 Speaker 9: And then imagine, as we understand, that that cure of cancer means that that all of our social safety nets are bankrupt immediately, are completely insolvent. Because that would add, I don't know, what would that add? Would that add five years to everyone's life expectancy? 00:31:08 Speaker 2: Probably more. 00:31:08 Speaker 3: It would be very expensive. 00:31:10 Speaker 9: So imagine the hole that Medicare is in or the hole that Social Security currently is in, and we just don't have the political will to fix. Or imagine CalPERS and CalSTRS are the big pension funds around the country, you know, suddenly realizing, holy cow, we don't have enough money. And we have no way of meeting some of the future liabilities we have signed up for because it's until death. that, that's, that will, that will, that, that's when the, you know, as I, as I told one client, Hey, I'm not worried about another. 00:31:40 Speaker 2: Oh, wait, we're going to have big dips in the market. There's no, I'm worried about you living to 108. 00:31:44 Speaker 6: Yeah. 00:31:44 Speaker 2: Right. And if you live to. 00:31:47 Speaker 9: 108, well, the plan that we have for you to live to 95 doesn't go far enough. 00:31:52 Speaker 3: Yeah. Right. 00:31:53 Speaker 2: Wow. Crap. 00:31:55 Speaker 3: Here's an interesting thing I can tell you before I let you go. Uh, I'm going to think more about this. So I was talking to my kids last night about, so you know, last spring when all the graduations were happening, anytime anybody brought up AI at a college graduation, the crowd booed like crazy. And so last night I'm talking to my kids. My kids are younger than yours. I got two high schoolers. I brought up AI and one of them was talking about AI slop. And I said, well, what do most of your friends think about it? Oh, we all hate it. Everybody hates it. You too, Henry. So both of them, both of their grades, sophomore and junior in high school, everybody they know hates AI. So that is a PR problem that the AI

companies have, that this young crowd has developed a real, like, hatred for it. They didn't say people don't like it. Oh, we hate it. We hate AI. 00:32:43 Speaker 2: Yeah. 00:32:44 Speaker 3: That's interesting. They're going to be the most valuable companies in the world. 00:32:48 Speaker 2: They are. 00:32:48 Speaker 9: But once it's seen as a threat to the actual human existence, you can see how. 00:32:53 Speaker 2: Sentiment would turn. 00:32:54 Speaker 9: Although, you know, a local high school here that my kids went to this year, no more cell phones. 00:33:00 Speaker 2: Oh, yeah. No, no complaints from anyone. 00:33:03 Speaker 8: No. 00:33:04 Speaker 2: I mean, the kids are happier. 00:33:06 Speaker 9: Yeah. 00:33:06 Speaker 2: No, they're actually they're actually speaking to people. They can't use it as a crutch. So, you know, it's. 00:33:14 Speaker 9: It's not technology that's the hard part. It's humans understanding where and when to limit that technology. That is the hard part. 00:33:21 Speaker 3: Kelly Brothers, one of the smartest people I know. Cap Trust Financial Advisor. Appreciate your time today. 00:33:25 Speaker 2: Thank you, Jack. Appreciate the show. 00:33:27 Speaker 3: You bet. Take care, buddy. Yeah, I was surprised to find out all the young people, or at least all their friends, hate AI. That's a problem for those companies like Kelly was talking about. They got a PR problem they got to get on top of as the world changes and it's all laid at their feet. I want to tell you real quick about what you can do for your dog super easy and super fast. Make what they're eating a heck of a lot healthier. You don't have to change dog food for your dog. You just sprinkle rough greens on top of it and it's going to be a lot more healthy. a lot healthier for your dog. 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Armstrong and Getty. 00:35:00 Speaker 2: The Armstrong and Getty Show. 00:35:04 Speaker 3: Some sports news. 00:35:05 Speaker 8: Disney announced that they will air a Star Wars-themed version of Super Bowl 61 and that Darth Vader will start interviewing real players on Monday Night Football. 00:35:15 Speaker 9: What? 00:35:16 Speaker 8: Disney said that they're excited that they found a way to ruin Star Wars and football. 00:35:21 Speaker 2: Who is that for? 00:35:23 Speaker 3: Is it for Star Wars fans? 00:35:25 Speaker 4: No. 00:35:27 Speaker 3: I like it. 00:35:27 Speaker 2: I don't know who else it would be for. 00:35:29 Speaker 3: Who is that for? I feel like football people are going to hate it, and the Star Wars people are going to not see it, because if you're a real Star Wars geek, you probably don't watch football. 00:35:37 Speaker 9: I guess it's for all the men that play with Legos, that like the video games, that dress up like their favorite video game character. 00:35:44 Speaker 3: That crowd does exist, but are they NFL fans? I wouldn't think so. Or do they think they're going to lure them in? 00:35:49 Speaker 9: They aren't. 00:35:49 Speaker 2: They're going to lure them in. 00:35:50 Speaker 3: They aren't. We're going to talk to Anastasia Bowden after the top of the hour. She's Such a great legal analyst, and we'll have a good conversation. We always do. I think I have too much cologne on today. And I never want to be too much cologne guy. What's that? I didn't think so. I've asked a couple of people, and they said they couldn't smell me, which is good. I can smell me. I feel like if I can smell me, it's a bad thing. I bought this. It's ridiculously expensive. I bought a tiny bottle to get the price down. Tom Ford Leather Vanille is what it's called. I guess it's all the rage for the young people. It's crazy expensive. If you buy a bottle like this big, I'm holding my fingers a couple inches apart. It's like 200 bucks. No way. So I bought a tiny little bottle. So you bought a drop. I bought a couple of drops and I'm dressed up today. I got to go do a thing. And so when I wear a suit, I usually put a tiny bit of cologne on. But I didn't think the first squirt worked like the bottle didn't work or something. So I hit a second squirt and apparently the first squirt had worked because now I really feel like I overdid it. It's a nice smell. I feel like good cologne and good perfume is less offensive than cheap stuff. But yeah, still. 00:37:03 Speaker 7: So if you can smell it, it's not your scent. if that makes sense. 00:37:10 Speaker 3: So when you buy. 00:37:12 Speaker 7: Cologne or perfume, when you spray it on you, after a few minutes, you shouldn't be able to smell it anymore because it's your smell. 00:37:19 Speaker 2: Right. 00:37:19 Speaker 3: Yeah, I overdid it. I hope it's not offensive to anyone around. I don't want to be too much cologne guy. Of the list of guys I don't want to be, and there's a whole bunch of them, I really don't want to be too. 00:37:30 Speaker 9: Much cologne guy. 00:37:31 Speaker 3: You're very far from that list. You're fine. I might be today. 00:37:34 Speaker 7: Hey, if you were dressed like a slob, you might be... But you're sharp, so you're good. 00:37:40 Speaker 3: Usually, too much perfume, too much cologne person is wearing cheap stuff, which makes it even worse. Walmart sweatpants. And then I've talked for years about there's a particular perfume that bar chicks often wear, as a guy who used to hang around bars a lot. 00:37:55 Speaker 9: Yes. 00:37:56 Speaker 3: Your bar trollop, that was a particular perfume. It has rose in it. Anyway, we've got more in hour four. Get the podcast, Armstrong and Getty On Demand. 00:38:07 Speaker 1: Armstrong and Getty.