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Dave: — last night, Kev. The board sat down last night. Not to look into him anymore. To decide if he's gone. Guy who started the thing in ninety-three. And there's nobody behind him— no chairman, no name on a piece of paper, nothin'. And— okay, two sources. Two sources say it. Nobody's announced anything, so it's all, uh, reported, alleged, all of it. But half the country's retirement's got a piece of that company. Kev's got a piece. Sittin' in there. 'Cause of a weekend. Hold that thought—
Dave: Morning. It's Dave. It's Thursday. Kev's here. Kev. Detector.
Kev: It's up.
Dave: Darnell?
Kev: Darnell. Took him, like, four minutes.
Dave: Week on the counter. Four minutes.
Kev: He had the chair out already.
Dave: It chirpin'?
Kev: No. It's quiet.
Dave: And the sock.
Kev: Still nobody's.
Dave: Okay. Okay, we gotta go. Let's find out who's lying to you today. Kev. What you got.
Kev: Okay so, uh— top one. Nvidia's board met last night on whether to fire Jensen Huang. Stock's down about eight percent. Fortune says four hundred fifty billion gone since he admitted the affair. And Elon Musk says he'd hire him.
Dave: Right, that's the top. Reported. Alleged. Keep the words on all of it. Two sources say the board's gettin' ready. Nobody's announced nothin'. But four hundred billion in a day—
Kev: Four fifty. And that ain't a day. That's since he admitted it. Tuesday I had two hundred.
Dave: Four fifty. Kev, pull up the chip thing. There's a second story in there.
Kev: Uh, hold on. One sec.
Dave: 'Cause I dropped this yesterday for time. And— I mean, I've had a pallet end up where the paperwork didn't say. Not on purpose. Says Singapore, pallet's in—
Kev: Okay... partner company, Megaspeed... built a, uh, network. Singapore, Malaysia. Moved... seven and a half billion in chips to Chinese companies. Reportedly. And the Journal says Nvidia quit reportin' Singapore revenue last year.
Dave: Seven and a half billion.
Kev: Reportedly.
Dave: Here's the part they skip. TV's doin' the affair. That's the weekend. Seven and a half billion in chips goin' where they ain't s'posed to— that's the business. That's, uh— that's what a board fires you for.
Kev: Okay but, come on. The guy built it. Thirty years. You fire him over his personal life, who runs it?
Dave: Nobody. Here's my take, and people disagree with me. Ray. Bridge on Route 20. Everybody's fine till the bridge goes out. Thirty years, and that board never— I mean, they never wrote down a second name. That's on the board. Half the country's retirement, and one guy knows the route.
Kev: Mine's still in there.
Dave: I know it is. So what's that do to your check? Nothin' at the register. Gina's rule— that's the stock market. Somebody's 401(k). Open it. Don't touch it. Don't sell nothin' 'cause a billionaire posted somethin'.
Kev: He'd hire him.
Dave: Good for him. Alright. Dave Scale. One to ten, how bad for your wallet... two. Two, same as Tuesday. Three for Kev. Kev, what's next.
Kev: Uh, okay. Tariffs. Class action over tariffs moved forward. Importers are one step closer to a hundred sixty-six billion dollars in refunds. Importers. Not you.
Dave: Hundred sixty-six billion.
Kev: Hundred sixty-six.
Dave: Okay. Court step. Not a check. Government's fightin' it. But say it comes. Who paid the tariff? I've paid the tariff. It's, uh— it's a bill at the dock, before the box moves. Company pays it, and then it kinda... goes on the tag. Rode the boat, so it's real. You paid it. At the register.
Kev: Wait— so they get it back and we don't?
Dave: There's no line in it for you. I looked. You paid it at the register. The refund goes to the dock.
Kev: Hold on. They paid it first, though. It's their money.
Dave: Was. For about a week. Then it was yours. Here's my take, and people disagree with me— when the refund lands, you know, watch the tag. Tommy's excuse. Sign fell, shelf didn't. I've never once seen a tag come down 'cause a cost did. So what's that do to your check? Nothin', unless the tag moves. Alright, Dave Scale... four. Four, 'cause it's slow and it's a court. Gimme the next one.
Kev: Okay. Bonds. Bond market came back from the holiday and rates went up. Gold's down 'cause people are bettin' on a Fed hike. And... no. Still no CPI number on my sheet.
Dave: Three days.
Kev: Three days.
Dave: I owe it, I ain't got it, I ain't makin' one up. Bond market— Gina's rule, that's your rate— opened back up and rates went up. Dollar's at a, uh, nineteen-month high. Gold's down 'cause the bettors say hike. Bettors. He said "leanin' toward." The bettin' stood up. He ain't. So what's that do to your check? Nothin' yet. Kev, the card.
Kev: Twenty-somethin'.
Dave: That's the one that moves if he stands up. Three weeks after, no letter. Alright. Dave Scale on the Fed. Six holds till they do it. What else.
Kev: Oil's down again. Traders are hopin' on talks with Iran and the shippin' lane reopenin'. Paper says the "risk premium" is fadin'. No pump number on the sheet.
Dave: Risk premium, in English— the extra traders tack on 'cause they're scared. Less scared, oil drops. No pump number, no diesel, so I ain't sayin' the sign moved. So what's that do to your check? Nothin' yet. I mean— your sign didn't move 'cause a trader got less scared. Bill's rule. Down slow. Alright. Dave Scale on gas... still a five. Five holds till somebody reads me a sign. And "risk premium" goes in the lineup for tomorrow. Next.
Kev: Uh— MarketWatch reader paid extra for priority boardin'. Got on, bins were already full. Wants to know if they got scammed.
Dave: Kev. You book Thanksgiving?
Kev: Last night, actually.
Dave: You buy the boardin' thing?
Kev: Looked at it. Looked at all the add-ons. Didn't.
Dave: Good. Here's the part they skip— you bought a spot in line. The bin ain't in the sentence. It says "boards earlier." I booked forty trucks in July once, paid for forty, freight never showed. That's a reservation. It's your turn. Don't mean anything's left when it's your turn. We flew to my sister's in Phoenix once, I had a cooler of brats, 'cause she can't get the right ones out there, and the gate lady goes "is that a carry-on," and my wife just... walked away from me— doesn't matter.
Kev: Did it fit?
Dave: It fit. So what's that do to your check? You paid extra for a feelin'. Two weeks to Thanksgiving, everybody's sellin' the feelin'. Dave Scale... two. Three if you're flyin'. That the sheet?
Kev: Bezos thing. One paycheck. We're outta time.
Dave: Says who.
Dave: From the People. Kev.
Kev: Kelly. Mansfield. "Is it worth switchin' to a credit union? My bank charges me twelve dollars a month for nothin'."
Dave: Kelly. Mansfield. Twelve a month's a hundred forty-four a year. For nothin'. Rule of thumb, not advice— call first. "Waive it or I'm leavin'." More of 'em waive it than you'd think. If they don't, credit union. Same checkin', no twelve. The pain's movin' the direct deposit. Next.
Kev: Eddie. Lafayette. "What's a good credit score for real? Mine's six ninety and I don't know if that's good or bad."
Dave: Eddie. Lafayette. Six ninety's fine. It's a yes on most things. Higher gets you a better rate. Rule of thumb— pay on time, don't open nothin' new. That's the whole trick. Thanks Eddie. Kelly. It's dave at dave explains podcast dot com. Kev reads all of 'em. Under a detector that works now.
Kev: You've owed a number three days.
Dave: ...Fair.
Dave: The One Thing. One move today. Bookin' a flight this month— before you click any add-on, read the one sentence under it. Out loud. "Boards in group two." There's, uh— there's no bin in that sentence. If the sentence don't say what you think you're buyin'— you ain't buyin' it.
Dave: That's Thursday. Tomorrow's Friday, Jargon Jail— "leanin' toward" already got a cell, and "risk premium" just got booked. Kev, say bye.
Kev: Bye, y'all. It's quiet now.
Dave: That's the economy. In English. Go make some money.