Martin Parlato: No B.S. Insights About Markets & Inflation

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listen learn laugh and love every minute

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welcome to fun with annuities I'm your

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host Dan the annuity man America's

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annuity agent licensed in all 50 states

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coming to you from Sunny hot Las Vegas

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Nevada

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where the home office is and you know

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also from Florida so thoughts and

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prayers to the people in Florida my

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guest today is from Florida and boy

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we're so happy to have him on I was

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telling someone the other day I get a

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lot of calls to have him back on he's

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just busy and I finally got his schedule

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to coordinate with ours and

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um I always say that that he has the

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talent that Jim Cramer wished he had

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um the fact that Martin parlato is not

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Jim Cramer is one of the biggest

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travesties the world has seen especially

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in financial journalism and financial

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thought leadership so without further

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Ado Marty welcome back to fun with

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annuities hey Stan good to see you again

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wish I was in Vegas wish I was in Vegas

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with you well it's not that glamorous

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you know I don't I don't I don't party

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in my old dude so hey let's Jump Right

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In I'm dying one of these days I'm going

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to tell you my my uh Airline Story by

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the time we flew over to Vegas and we

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met coach Nate it's a very long story so

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I can't tell on the radio okay okay

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well Marty I'm dying to hear your your

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take on everything so I don't know where

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you want to jump in I wrote down

1:48
inflation the FED markets crypto Stanley

1:51
drunken Miller uh Jeremy Siegel where do

1:54
you want to start I can't wait to hear

1:56
everything you have to say to my clients

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and listeners are like holy crap let's

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get to this thing Stanley well I just

2:02
finished our radio show a couple hours

2:04
ago

2:05
and I started with Jeremy Siegel's rant

2:09
last Thursday

2:11
then I linked it to Judy Shelton's

2:15
interview on CNBC I think it was Monday

2:18
or Tuesday this week then I wrapped it

2:21
up with Kathy Woods

2:23
um

2:24
take on it I think it was Monday or

2:26
Tuesday of this week

2:28
and um

2:30
my show I I I I I

2:33
I'm absolutely livid at what the Federal

2:36
Reserve is doing

2:38
um

2:39
I went through each one of those

2:42
columnist analysts wherever the

2:44
economist whatever the hell you want to

2:46
call them

2:47
and

2:49
these are either among the dumbest

2:51
people in the world including myself or

2:53
they're among the smartest and the FEDS

2:55
got it completely wrong I think the

2:57
fed's got it completely wrong

2:59
um

3:01
Judy Shelton made maybe the most

3:03
interesting point of the bunt Judy was

3:05
uh Donald Trump's nominee for

3:08
uh Federal Reserve chairman before

3:10
Donald Trump weaseld out and reappointed

3:13
Jay Powell

3:15
because Donald Trump is too gutless to

3:17
get rid of Jay Powell

3:19
and Judy says look

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the problem that we got is we're trying

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to get

3:27
butts back in chairs people back to work

3:30
people building things and doing things

3:34
and the Federal Reserve

3:36
is saying that the only way to fix

3:38
inflation is to cause higher

3:40
unemployment so that people cannot skip

3:42
from job to job to job getting higher

3:45
wages every time they move she says it

3:47
it makes absolutely no sense what the

3:50
Federal Reserve is trying to do and then

3:53
we got the pce numbers out this morning

3:56
and the unemployment numbers out this

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morning

3:59
and it's an Abomination and to the point

4:02
and we have a client that used to become

4:04
controller of the currency he sends me

4:06
an email saying Marty the numbers are

4:08
red these numbers are fake they're

4:10
whacked there's no pot there's no

4:11
possibility that these numbers these

4:14
economic numbers make sense you listen

4:16
to Kathy Wood at ARC Investments

4:18
gasoline oil prices are down to 25 year

4:24
lows 25 year lows on oil prices and

4:30
and and commodity prices of all types

4:32
whether it's aluminum or copper gold

4:35
yeah

4:37
and I don't know where the Federal

4:39
Reserve is going and and you know we've

4:41
got clients

4:43
jumping out of Windows calling me saying

4:45
what do I do what do I do and I told him

4:47
today I finally sent out our message to

4:48
our clients today and I said look

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I got no more spin

4:53
there's just there's just no more spin

4:56
um the last best chance that we have to

4:59
turn this around is November 8th and if

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we don't see something significantly

5:03
bouncing by by November 8th then I don't

5:07
think it's going to bounce because the

5:09
FED has said today look everything we're

5:10
doing is wrong nothing we're doing has

5:12
any effect but uh we're going to double

5:14
down we're going to do some more of it

5:16
so uh

5:18
that's what we've got that's that's the

5:19
government that somebody elected

5:21
but it wasn't me

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inflation inflation inflation I know

5:27
everyone brings that up they bring it up

5:29
to me I yell at people that have enough

5:30
money to to weather the storm and you

5:33
know people were kind of tired of me

5:35
going hey if you call me with three to

5:37
five million dollars and you start

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talking about inflation I'm gonna start

5:39
yelling at you go buy the eggs where do

5:42
you see inflation I I don't I don't mean

5:44
where you see a guy where do you

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physically see signs of inflation for me

5:48
and that's a great question that's what

5:50
I always ask people I think inflation is

5:52
personal and customized okay and the way

5:55
I look at it have two daughters that are

5:56
no longer in the house that means we

5:58
don't no longer feed them we no longer

5:59
take them to dance we no longer buy them

6:01
clothes we no longer do any of that so

6:03
that inflation part is gone I don't

6:07
drive cars okay I fly back and forth and

6:10
this and I I mean it doesn't really

6:12
affect me my wife coming from rural

6:15
Nebraska growing up in a trailer God

6:17
bless her and been married to me for 35

6:18
years will say can you believe how much

6:21
this grocery bill cost I'm like listen

6:23
we can afford it go ahead and buy it or

6:24
can can you believe how much I mean it's

6:26
it's personal now yes it's affecting the

6:29
lower end it always does and my heart

6:31
goes out to them but for everyone else

6:33
out here if you're really looking to

6:35
solve for inflation someone's going to

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sell you a crap product that doesn't

6:38
work but they're going to tell you it

6:39
does well I don't see the inflation and

6:42
I'm like you we don't have any kids at

6:43
home anymore so it doesn't matter to me

6:45
I don't see it right I don't see it

6:47
either you know I don't drive enough

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I'm on a road trip then I then I have to

6:51
do that but I don't drive enough that it

6:53
matters my office is five six miles from

6:55
the house and it's insignificant right

6:58
you know I tell Linda who do I what do I

7:00
care if milk costs a 35 cents a gallon

7:02
more what would you rather have a job or

7:05
a lower price of milk you know and you

7:07
look at certain things you look at

7:08
certain things like eggs right

7:10
well we keep we we quit eating plain old

7:14
generic American eggs years ago you know

7:16
we're at eglin's best family so we're

7:18
already up and up yeah we're buying the

7:20
seven dollar eggs maybe you're up to

7:22
them seven dollar chicken actually we

7:24
don't even worry about those four old

7:25
everyday white eggs

7:27
uh but it's this is a reflection of the

7:30
media talking about it and not knowing

7:32
what they're talking about and then

7:33
people call me up I'm like are you

7:35
really are you really talking to me

7:37
about inflation really and I'm still I'm

7:40
still drinking you know 10.99 a a

7:42
12-pack Miller beer because I like it

7:45
and it's cheap right you know and and I

7:47
can afford more expensive beer but but I

7:50
don't see it and you're down to 337 a

7:52
gallon for gas in Jacksonville that's

7:54
very little more than 250 gas that

7:57
Donald Trump had sure when we were in

7:59
the middle of a pandemic and you could

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drive from my office in Jacksonville to

8:03
my office in Hilton Head and never see a

8:04
truck or never see a car on the highway

8:06
so so that's not a terribly uh inflation

8:10
so so where's the inflation well the

8:12
inflation

8:13
is it Ford where you're going to get 60

8:16
80 90 120 000 for F250 correct and it's

8:21
not it's not too many folks demanding

8:23
120 000 trucks no it's that Ford can't

8:28
find somebody

8:29
to come in and make the component they

8:31
can't make the blue badges for the for

8:33
the logo

8:34
and they said the company that makes the

8:36
blue badges can't get people to show up

8:39
at work to make the blue badges

8:41
and here you got the Federal Reserve

8:44
trying to raise interest rates so that

8:46
businesses that make blue badges for

8:48
Ford trucks will fire their people will

8:51
fail to give them wages to keep the wage

8:53
prices down

8:54
so again it's what Judy Shelton said

8:57
what I've been saying since November

8:59
it's a supply chain stupid you know go

9:02
make more chicken eggs go make more milk

9:04
go make more Oreos go make more Ford

9:07
pickup trucks quit paying people to sit

9:10
home for God's sake you know this is

9:13
just this this is just a catastrophe of

9:16
bad government just a catastrophe a bad

9:18
government and you're killing people I

9:20
mean you you're you created another

9:22
generation of people that hate the stock

9:24
market your business ought to be doing

9:26
good I had a phone call

9:28
you know I was looking for an annuity

9:30
for one of our clients I talked about it

9:32
sure and the guy tells me that over at a

9:34
theme they're talking 90 to 100 days to

9:38
book a Miga you send them a contract for

9:40
a Meyer they're out 120 days to book a

9:42
migrant I will tell you without

9:43
mentioning companies that the the I

9:46
always tell people that it's all about

9:48
capacity with annuity companies okay

9:50
they could care less what j-pal does

9:53
they glance at him they yawn when he

9:54
talks and if they're getting enough

9:57
money in there's no incentive for them

9:59
to raise rates people say well why

10:01
didn't they raise Roots When when Jay

10:03
power because they don't care they're

10:04
getting so much money in they don't care

10:06
they're reaching capacity limits in fact

10:08
most companies are lowering their rates

10:10
yes there are some that raise them and

10:13
that's the reason that we represent all

10:15
carriers and have all carriers out here

10:17
that if someone breaks out we can get

10:20
them hey I want to talk to you about the

10:21
markets in general at the time of this

10:23
taping and and this is uh we're taping

10:25
about four days early from when you're

10:27
going to hear it

10:28
um they're getting hammered here Marty

10:31
um

10:32
well what did happen is this morning it

10:34
was just it was just terrible I mean the

10:37
pce came out the the unemployment came

10:39
out at below 200 000. and you had every

10:42
talking head from it from the FED every

10:44
single one of the Talking Heads came out

10:46
and said uh we're not dissuade uh the

10:50
United Kingdom is crazy uh the United

10:53
States insane over there now well

10:55
Japan's doing the same thing well you

10:57
know I'm on the side of you I'm on the

10:59
side of the UK initially

11:01
um because you got you got the UK and

11:05
China and Japan going we don't want to

11:07
be a mayor I I think what's happening is

11:09
those countries are saying look we don't

11:11
want anything to do with Joe Biden he's

11:13
on his way out thank God knock on wood

11:15
ding dong the witch is dead and he's

11:17
going to be gone in six weeks and we're

11:19
not hitching our we're not hitching our

11:21
economic wagon to the United States so

11:23
in defense of that this morning every

11:26
one of the FED officials came out and

11:28
said not no matter what they do over in

11:31
the UK or Japan or China we are we are

11:34
continuing on with quantitative

11:35
tightening and we'll see you in 2023 and

11:39
if your family's retirement if Granny's

11:41
retirement it goes to hell it's okay not

11:44
our problems not our money and it's a I

11:49
got to be honest with you clients are

11:50
jumping out windows they're going to

11:52
cash oh

11:53
absolutely and you know

11:56
I always tell people don't don't confuse

11:58
my business model with genius I just

12:00
like contractual guarantees I mean yes I

12:02
mean we are we are rolling because

12:04
people are flying to safety and we're at

12:06
a point now where safety can get you

12:08
with a plus rated carriers over five

12:10
percent so you know my my question is to

12:13
a lot of people is is that extra two to

12:15
three hundred basis points worth the

12:16
risk a lot of people it is like but but

12:18
it is a flight to safety here do you see

12:21
that continuing where do you see the

12:22
markets Marty from a standpoint of

12:25
volatility I know that you track things

12:27
differently than other people that's the

12:29
reason we want to have you on what do

12:30
you what are you looking at here I think

12:32
they're getting ready to break this

12:34
thing

12:35
um okay I I've told our clients today I

12:38
had to tell them that the header of our

12:39
morning commentary was no good news here

12:42
and I told him what I I'm you know every

12:46
morning two three times a day I'll send

12:48
out a message to clients

12:50
try to be optimistic but I don't have

12:52
any more optimism in me

12:54
um the last the last best chance that we

12:57
have to fix this economy

12:59
uh arrives on November 8th you're going

13:02
to get earnings that are coming out

13:03
you've got Apple down hard today rumors

13:06
that Apple's gonna miss their numbers uh

13:08
you're going to have Micron announce

13:10
earnings in a half hour so they're

13:12
obviously going to miss you're going to

13:14
have Nike report tonight they could miss

13:16
if you start getting these earnings

13:18
downgrades if they turn out to be bona

13:21
fide earnings downgrades

13:23
um

13:23
the last best chance that we have the

13:26
last Catalyst we have is the election

13:28
and

13:30
um

13:30
I don't think that's going to stop bond

13:32
yields from going up

13:34
um I I just so it's just not going to

13:37
stop it so

13:38
you know

13:40
you know let me interject real quick for

13:42
the people that don't know who we're

13:43
talking about you better his name is

13:45
Martin parlato Marty parlato to me he

13:48
runs a firm called Lighthouse retirement

13:50
it is a boutique one-on-one private

13:53
money management firm that if you don't

13:55
connect with them is lighthouse

13:56
retirement.com

13:59
um you should at least listen to what

14:01
he's saying because he's one of the

14:02
smartest people in the country and the

14:05
most dialed in I've ever heard and you

14:07
if you don't like the way he talks about

14:09
it then you don't like life he is

14:11
bringing it and it's raw and it's fresh

14:14
and it's truthful and it's factual and

14:17
he doesn't give a crap if you like it or

14:20
not and that's why I like it and that

14:22
that's kind of the way I am if people

14:24
that know me out here I mean that's

14:26
Marty so

14:27
um I'll have a link on on my site so you

14:29
can get to him if you want to and listen

14:32
he's got a great podcast and radio show

14:34
as well you can listen to those

14:35
recordings are fantastic

14:38
um in fact I think the best market-based

14:41
podcast and Radio Show in the country

14:45
um and if I mean that's I like I told

14:47
him before we went on I got a call the

14:49
other day from it's not even a client

14:50
it's just a guy that looks like he's

14:51
going to be a client from Wisconsin I'm

14:54
already sitting in in Florida this guy's

14:56
like you gotta have Marty back on so

14:58
with that money I want to go back we

14:59
talked about this before and you

15:01
hammered it you were right as rain no

15:03
pun intended about crypto can you weigh

15:07
in on the on the the gaudiness of what's

15:09
Happening Here with crypto

15:11
I'll come into it

15:13
I'll come into it in the back door I'm

15:15
gonna I'm gonna defend Jim Cramer

15:18
because I'm a fan of the show and I'm

15:21
really a fan of the interviews

15:23
but I will say as it as it pertains to

15:26
crypto

15:28
and again Jim Cramer I'll note that Jim

15:31
did a show this week on Mad Money on his

15:33
Mad Money show

15:35
where he attempted to

15:38
um

15:39
divest himself from the issue of these

15:43
uh spacks which is you know not the same

15:46
thing they hammered those explain what

15:48
spec is to people real quick it's a

15:50
special act special purpose acquisition

15:53
fund it's a it's a blank check fund so

15:56
the the I don't want to get the lawyers

15:59
too agenda but the the loudest and most

16:02
big mouth proponent of it was a guy

16:04
named shamoth polyopter who you guys

16:07
have probably seen on CNBC and I always

16:10
say that whenever Andrew Ross Sorkin

16:12
who's a semi-effeminate male is on CNBC

16:16
you should not watch that show but

16:19
Andrew Ross Sorkin

16:21
was

16:22
Andrew Ross Sorkin just loved dearly

16:26
bringing Shema polyopter however you

16:28
pronounce his name on the show so this

16:30
shamoth could be portrayed as some great

16:33
investor but he was actually Shilling

16:35
spacks all day long for over a year

16:40
on CNBC

16:42
and Jim Cramer tried to come out and

16:44
distance himself from it today despite

16:46
the fact that Jim Cramer is so powerful

16:48
over at CNBC that if he said I don't

16:50
want to go in the air of shamots on they

16:52
would have pulled him off in a heartbeat

16:53
oh absolutely

16:54
um so Kramer tries to distance himself

16:57
in this whole spat thing I think it was

17:00
absolutely

17:02
irresponsible to the point of being

17:04
Criminal the way that CNBC pumped and

17:08
dumped spax and crypto absolutely

17:12
criminal and I think when all of the I

17:15
think when when the when the autopsy is

17:18
done

17:19
I think you're going to find crypto had

17:21
a lot to do with this I think throw in

17:24
non-fungible tokens underneath the

17:26
crypto Banner as well that was a joke

17:28
from the start yeah right and and you

17:31
know the only the only spec that we ever

17:34
participated in and I should have known

17:36
it was a scam when I you know when I did

17:37
it was Donald Trump's uh his for for his

17:41
you know his dwac thing I should have

17:43
known that was a scam just because it

17:45
was Donald Trump but

17:49
you know I I look at what they're doing

17:51
on CNBC talking about something and they

17:54
can't get off of it it's like they're

17:55
addicted that they they continually talk

17:58
about these small stocks Roku

18:00
um you know stocks like um Peloton

18:03
constantly making headlines this morning

18:05
they're talking about Peloton signing to

18:07
deal with to sell to Dick's Sporting

18:09
Goods or something like who cares who

18:11
cares I mean it's a crap how does that

18:14
affect my life I went over to Dick's

18:15
last weekend to buy a Jaguar shirt they

18:17
must have had 12 different select the

18:19
most overpriced store on the face here

18:21
and how it survives I don't have a clue

18:22
but um

18:25
um you know there's a lot of

18:28
irresponsible reporting going on at CNBC

18:30
and a lot of folks just like what's

18:33
going on with this apple story okay

18:35
there is no way of knowing what's going

18:38
on at Apple but I will tell you

18:39
anecdotally my 18 year old granddaughter

18:42
who's in college and my daughter uh they

18:45
all have brand new high-end top of the

18:47
line uh Apple iPhones so uh there must

18:51
be some demand out there for the product

18:53
but who knows maybe I'm wrong Maybe I'm

18:56
Wrong

18:57
tell me I want to hear your take on what

18:59
Jeremy Siegel did because if go to go to

19:01
Marty's site he has the link to Jeremy

19:03
Siegel he sent that out today Jeremy

19:05
Siegel went off so factually on somebody

19:07
the other day explain and and your terms

19:11
and your the way you can do it what he

19:13
was talking about and Jeremy Siegel's

19:14
one of the smart people in the room by

19:15
the way Jeremy

19:18
hear me saying that look

19:20
what they're all saying all of them um

19:22
Jeremy Siegel Kathy Woods uh Judy

19:26
Shelton what they're all saying is that

19:28
the key indicators that the FED is

19:30
looking at are unemployment

19:33
and and um

19:37
and and and and inflation numbers core

19:39
inflation Bureau of Labor and statistics

19:41
core inflation

19:43
those are lagging economic indicators

19:47
they're always and always have been

19:49
always and the leading economic

19:53
indicators says Jeremy Siegel are all

19:56
saying that the economy is moving you

19:58
know we are technically without any

19:59
doubt in a recession as of today's

20:01
numbers sure so

20:03
so what what Jeremy's saying is all of

20:06
these things that were true a year ago

20:10
are true now but the FED didn't have any

20:12
problem with them a year ago now for

20:14
some magical mysterious reason the fed's

20:16
gone and got religion God Found Jesus

20:18
and now the FED wants to be this Uber

20:21
Hawk on inflation and then Jeremy's

20:24
question is well if it was so important

20:26
that you're going to crush the global

20:28
economy now why didn't you why didn't

20:30
you try to crush it a year ago when we

20:32
told you there were these signs of

20:33
inflation and the fed's got no answer to

20:36
that but if you look at everything that

20:38
all of these other experts tell you the

20:40
feds looking in the rearview window the

20:42
fed's looking in the wrong place

20:45
um you know look what's happening in the

20:46
stock market today you know I might have

20:48
to go back to buying plain old everyday

20:50
white eggs you know I might not be able

20:53
to afford a two hundred thousand dollar

20:55
Ford pickup truck you know people's

20:58
discretionary money vacation money any

21:02
kind of discretionary spending typically

21:05
comes from the stock market earnings

21:07
they don't buy things if they don't feel

21:09
good

21:11
um I agree that that's what Jeremy

21:13
Siegel was trying to say and his

21:15
question is

21:16
his point his other point was tell them

21:19
to shut up

21:20
just tell them to do whatever they're

21:22
going to do but shut up in the middle

21:24
why why are you making it so miserable

21:26
on a day-to-day grind why are you people

21:29
constantly running around on CNBC

21:32
talking do what you're going to do shut

21:35
up and we'll talk to you next month

21:37
that's the end of it and and you know

21:41
they just work people up into a lather

21:43
it drives me crazy did you see what

21:45
Stanley drunken drunken Miller said the

21:47
other day I didn't have a chance to

21:49
watch it what he yeah he pretty much

21:51
said that it's going to be really hard

21:54
to make money in stocks in the next two

21:55
years ish

21:57
and and he said two

22:01
but interesting you said 10 why would

22:03
you put 10 on there

22:04
I thought somebody said that uh it was

22:07
going to be 10 years before things got

22:09
better but

22:11
you know

22:13
you know at some point you get to you

22:15
got to see what the valuations are right

22:17
you know if look if you got the CEO of

22:22
Ford

22:23
saying we can't find people to make blue

22:25
badges or doorknobs or whatever the hell

22:27
the part and he said the semiconductors

22:28
are getting better if you can't find

22:31
somebody to make those components you

22:33
need to tell me why

22:34
why can't you make blue badges for a

22:37
Ford pickup truck and and I don't

22:40
understand that why why can't you get

22:42
butts in the seat right at work

22:45
um Amazon's up to 19 an hour minimum

22:48
wage starting wage nineteen dollars an

22:50
hour Starbucks is pouring coffee at

22:52
twenty two dollars an hour so I was

22:54
telling the clients last week a lot of

22:55
this wage a lot of this wage inflation

22:58
is work it's woke you got Charles

23:01
Schultz former CEO at Starbucks he wants

23:04
to pay 22 dollars an hour McDonald's is

23:07
paying 11. you don't think Starbucks

23:09
could pay 15 and and hire all the people

23:12
they wanted sure they could but they

23:13
want to pay 22 dollars an hour Amazon

23:16
wants to be the leader in minimum wage

23:18
they want to have better truck drivers

23:20
better Warehouse staff than public and

23:22
also good PR it's it's easy PR and it's

23:25
easier than buying an ad PR firm it just

23:28
is not that they have to pay that kind

23:30
of thing they don't you know most of the

23:33
kids at Amazon are not using the free

23:35
college or the free health care that you

23:37
know they're 18 year old men they don't

23:39
use they're not going back to college

23:40
and they're not used in health care but

23:42
so so a lot of this wage pressure is

23:46
really a symptom of how woke this

23:48
Society is and how profitable some of

23:51
these companies are

23:53
um I promise you I don't know what the

23:55
wage is but I promise you Walmart's not

23:57
paying 19 an hour in their warehouses I

24:00
I McDonald's is not paying 22 dollars an

24:03
hour poor coffee so

24:06
you know if you got a job at Starbucks

24:08
God bless you you know congratulations

24:10
but

24:11
22 an hour at the Apple Store come on

24:15
none of those guys are worth twenty two

24:16
dollars an hour to sell you an iPhone

24:19
and uh

24:21
so I I don't know I don't I don't know

24:23
where the Fed

24:25
I I don't know where the FED comes down

24:27
on all of this I I don't understand

24:30
what this is going to do to fix the

24:32
supply chain which to me and Judy

24:34
Shelton and Kathy woods and Jeremy

24:37
Siegel is clearly the problem the supply

24:39
chain is broken we need somebody to go

24:42
make more of everything that we consume

24:45
more of everything and you know how many

24:49
how many supposed illegal America aliens

24:52
that we have coming into this country

24:53
why we're not training them why these

24:55
guys are not I why they're I promise you

24:58
every one of those illegals that come

25:00
across the border will work it will work

25:02
at Amazon yes I agree I agree with that

25:05
I totally agree yeah I don't know why

25:07
they're not there I don't know why

25:08
they're not on the payroll and I don't

25:10
know if they're being counted because

25:11
they're certainly getting jobs somewhere

25:15
um so I don't know if the federal

25:16
reserve's counting them or not maybe

25:18
maybe maybe that's why the jobs number

25:21
was so low today I

25:23
it it's a mess and I don't know what the

25:26
catalyst is and you don't see the

25:28
Republicans out there screaming that

25:31
they're going to overturn Jay Powell or

25:33
they're going to take any kind of

25:34
different action so so I don't know

25:36
where the calvary is

25:37
it'll ultimately come these companies

25:40
will either make money or they will not

25:43
be making money so if you get apple and

25:45
apple misses its numbers 130 could be

25:48
the floor if they make money they could

25:50
be back up to 200 which is where the

25:52
target is in most cases but are you

25:55
still calling for the cryptos to

25:57
continue to slide downwards and and push

25:59
down

26:00
I I wouldn't be surprised if if if

26:03
there's a major blow up

26:06
somewhere in the world having to do with

26:09
crypto that has to do with this Bond

26:13
this bond market

26:15
um I you know I still have no use for it

26:19
um

26:19
you know you know I'd still rather have

26:22
apple than than crypto and I barely want

26:25
to have apple right now but um I think

26:28
when when Buffett came out and said if I

26:31
wouldn't spend 25 dollars for all of the

26:33
crypto available

26:36
I don't know what Buffett's doing with

26:38
Occidental Petroleum I mean yeah just

26:40
taking that company because he's up

26:42
almost 21

26:44
um I don't know what he sees in

26:46
Occidental Petroleum another refiner but

26:49
um and then I'll tell you the other one

26:50
that was interesting was it was

26:53
important on the show today

26:55
was who blew up these uh oil and gas

26:58
these gas pipelines yeah Russia and we

27:02
played the video clip of Joe Biden

27:04
saying it was going to be him

27:05
and I think it was Joe Biden I think Joe

27:07
Biden and the Ukraine's blew up those

27:10
pipelines I I don't see that there's

27:12
anybody else

27:13
that could benefit by blowing up those

27:15
pipelines other than the United States

27:17
and their stooge the Ukraine

27:21
um what are we doing over there Marty I

27:24
mean we keep sending so much money over

27:27
there he just sent another 12 or 15

27:29
billion dollars yeah they wrote that

27:31
into that last bill and nobody knew

27:33
about it was like 13. that was how much

27:35
they had to pay the Ukraine to blow up

27:36
the gas pipelines I think did you know

27:38
that that was a that was a just a carte

27:40
blanche amount of money that they could

27:42
do anything with there wasn't anything

27:44
the way that I understand it it was like

27:46
here's 13 billion yeah here you go and

27:49
you know we've been calling on the radio

27:51
for all the black lives matter people to

27:52
get up and ride and go burn down the

27:54
streets because when was the last time

27:55
you spent 60 70 billion dollars on black

27:58
people when was the last time you've

27:59
been into a black neighborhood and built

28:01
up the schools built up the education

28:02
system put in some decent internet put

28:04
in when was the last time you went you

28:06
know the schools in Jacksonville how

28:07
about floor how about Florida after the

28:09
hurricane how about 45 billion going

28:12
into that yeah how about that so you

28:15
know I you know I I and that's another

28:18
thing look at the inflation this

28:19
hurricane is going to cause you know

28:21
because what's going to happen look look

28:22
at the weight look at what you're going

28:24
to have to pay a uh uh look what you're

28:26
going to have to pay when we were down

28:28
in uh Vero a few years ago the last time

28:30
we had hurricanes 2008 or whatever it

28:32
was you know you have no idea they were

28:34
they were they were charged of fifteen

28:36
twenty thousand dollars to paint condos

28:38
and they would come in here kind of

28:40
start it today walk out tomorrow and go

28:43
across the hall because the guy next

28:44
door paid him ten thousand dollars more

28:46
than you were wait do you see what it's

28:48
going to cost to paint those condos and

28:50
those houses and put up sheetrock and

28:52
all of that where do you see the

28:54
inflation numbers after this hurricane

28:55
and then the analysts are going to come

28:57
and say well those numbers were attained

28:59
by the hurricane oh yes they were I

29:02
guess they were well also too A lot of

29:04
these Legacy Homes what people

29:06
understand is you can't rebuild them as

29:08
is you have to rebuild them under new

29:09
code and that is a complete disaster

29:12
we're trying to right now to do some

29:15
upgrades on our house and and Ponte

29:17
Vedra we can't find people to even work

29:20
on it Marty I wouldn't buy a house in St

29:23
John's County except the one I live in I

29:25
wouldn't repair a house or build a house

29:27
with the crooks liars and thieves in St

29:29
John's County for all the tea in China

29:32
we tried to buy a house listen we're

29:34
just looking for anybody I'll actually

29:36
take those guys and try to convert them

29:38
if they can do work I mean it's hot I

29:40
mean what's Happening Now is really

29:43
interesting and and there are times that

29:45
I look I go to stores and I go and then

29:48
these type of things happen I'm like

29:49
this isn't the country I remember man I

29:52
don't I remember being able to go to the

29:54
store and there was all stuff was always

29:55
there now I don't know if the things I

29:59
need are going to be at the store I just

30:01
don't know that anymore and that's

30:02
that's weird fortunately we're so old we

30:04
don't need very much that is true that

30:07
is true so I I don't I don't know Stan I

30:10
mean these guys down south are going to

30:13
have and then the bridges that are all

30:14
destroyed all roads that are all

30:16
destroyed down there and yet you know

30:18
but I but hey another 12 billion dollars

30:20
to get the ukrainians to blow up the gas

30:22
pipeline probably uh cheaper twice every

30:25
time I see those happening I'm thinking

30:26
there's people over there there's like a

30:28
20 or 30 people Inner Circle that are

30:30
just getting rich and they've got the

30:34
Swiss out place and they've got the boat

30:36
and they've got I mean this is Russian

30:37
oligarch stuff all over again but we're

30:39
finding it how many people how many

30:41
countries do you think have the

30:43
technology to go into the North Sea and

30:46
tear up those pipelines two probably two

30:49
or three yeah the United States Russia

30:52
China maybe France that the only ones

30:54
that got the equipment and the ability

30:56
to do that that's a good point yeah I

30:59
mean it just those are not those are not

31:01
easy Waters to navigate so we're going

31:04
to find out who did that and I don't

31:06
think we will see the fact that I always

31:08
watch the news on how they're reporting

31:10
it the fact that that's not getting any

31:12
run rate at all tells me that they don't

31:14
want it to have run rate it's getting no

31:17
running what they got was Wall Street

31:18
Journal bearings everybody had it this

31:20
morning it's absolutely certain every

31:22
country in the world now knows that

31:24
sabotage and says it's sabotage sure not

31:26
one word about from whence the sabotage

31:30
came

31:35
so Marty what's what's making you happy

31:38
you're out there kicking butt you know

31:40
you're smart as heck what's what's

31:42
what's glass half full for Marty

31:44
uh we got our new Gemini performance

31:47
portal up and running which is uh cool

31:49
great for our clients we got our new

31:51
mobile app it's on the Apple Store now

31:54
it's under Lighthouse retirement okay

31:57
um

31:58
what else we got off our first cruise a

32:00
couple of weeks ago and well over

32:02
several years and didn't die the Jaguars

32:05
Jaguars are making me happy unbelievable

32:07
I mean just you mentioned that it's

32:09
probably gonna it's probably gonna mess

32:12
things up if you were the FED chairman

32:14
they just said hey you know what

32:15
chairman Powell we found a guy down in

32:17
Florida that was on the show and they

32:19
made you fed chairman how can you clean

32:21
this up and if so how would you

32:24
I'd have to take a pay cut I understand

32:27
that Marty that's the reason that's the

32:30
reason neither one of us would do that

32:31
but let's just say you took the pay cut

32:33
you wore the bad suit you hung out with

32:36
Janet Yellen what would you do

32:38
I'd say we were just kidding and cut the

32:40
interest rates tomorrow

32:42
I know exactly what the UK did I did

32:46
exactly what China's do I say look you

32:48
know I keep telling our clients we're

32:50
gonna every every now and then we Maria

32:52
bought a rum with the money honey cannot

32:53
get off of it she cannot get off of the

32:55
idea that China wants to be number one

32:57
my advice to the money honey is look

33:00
instead of complaining that China's

33:03
number one why don't we try doing what

33:06
China does why don't we go in like China

33:08
and try to stimulate our economy try to

33:11
Foster full employment try to build up

33:13
our control of this industry or that

33:15
industry why are we out here purposely

33:19
self-destructing this country and and

33:22
and and and I I honest to God I don't I

33:25
don't see the logic behind this you know

33:28
I I simply don't see the logic Beyond

33:30
but uh the same token you got to have a

33:33
president that simply cuts off any more

33:36
public support for laziness or or any

33:39
you know this whole idea that you're

33:41
going to get rid of uh you're going to

33:43
let them default they're going to let

33:44
them run through bankruptcy to get rid

33:45
of their student loans those loans were

33:48
always supposed to be non-dischargeable

33:49
it's the only reason Congress authorized

33:51
in years ago and it's against the law

33:53
and it's Rogue it's just a rogue it's

33:57
the same president that blew up the

33:58
pipeline violating all kinds of law

34:01
that's going to be overturned but I

34:04
would I would roll I would do exactly

34:06
what the UK did at the very least if I

34:09
was really serious about it

34:11
I would pause because I and I agree Judy

34:15
Shelton agrees with me they all agree

34:16
with me what you need to do at this

34:18
point

34:19
if you need to pause

34:21
and let the supply chain begin to catch

34:26
up

34:26
with the work that the Federal Reserve

34:28
has done

34:30
and you know just because the Federal

34:33
Reserve is Raising interest rates

34:36
doesn't mean that somebody's going to

34:38
open a factory making blue logos for

34:40
Ford tomorrow morning it's going to take

34:43
some time for somebody to make the blue

34:45
logo so Ford can ship their cars they're

34:47
going to completely destroy the housing

34:49
market they completely destroy the car

34:51
market any any Market where you're

34:52
loaning money is is this gonna be a

34:56
disaster well you know our my son wants

34:58
to come down and go to work first you

34:59
can't get can't afford to get rid of his

35:01
house in Massachusetts because the

35:04
difference in interest rates is going to

35:05
mean he's going to have to you know buy

35:07
several hundred thousand dollars less

35:08
house sure you're gonna have a hard time

35:10
finding a buyer so mobility in America

35:12
is is drying up

35:15
um I got clients that are telling me

35:17
that you know the the

35:20
all kinds of businesses construction

35:22
businesses of all kinds are having a

35:24
hard time

35:25
um

35:27
you've seen rocket mortgage offering

35:29
some kind of a scam deal where you can

35:31
go in and

35:32
finance a house today and

35:34
if interest rates drop over the next few

35:36
months you could refinance it for some

35:39
kind of discounted rate I don't know

35:41
what the offer is but you know you've

35:44
got you got people scrambling you got

35:45
Ford offering cars at 2.9 again

35:48
yeah where where the and that's

35:51
inflationary that's inflationary on the

35:54
high end because what you got to do in

35:56
order for Ford to subsidize interest

35:58
rates down to 2.9 they're going to have

36:00
to charge 30 40 000 more than the car is

36:02
worth

36:04
to the to the consumer so that they can

36:06
discount the the interest rate to the

36:08
consumer so so that's inflationary

36:11
um

36:13
I I see the whole thing working I see

36:15
the whole thing working at opposite ends

36:18
of where the Federal Reserve wants to go

36:20
the only ones that this is going to hurt

36:22
in the long run it's going to be it's

36:25
going to be stockholders that's for sure

36:27
and it's going to be

36:30
the lower income people that live

36:32
paycheck if you're punching a clock

36:35
uh if you live paycheck to paycheck

36:38
you're hurting and you can thank your

36:40
government for and then you got the

36:41
student I call Chris Chris had all kinds

36:43
of taxes she's got them squared away yet

36:45
so I said oh good news Chris

36:47
um you're due for twenty thousand

36:48
dollars of student Alone

36:50
um reductions by the way that's taxable

36:52
income

36:54
you're going to be taxed on that twenty

36:56
thousand dollars as income so really I

36:58
did I haven't looked into it because

37:00
it's so repulsive to me the whole thing

37:01
about it's so anti this country which is

37:05
you sign a piece of paper that you're

37:07
going to pay something back and now

37:08
you're not because it's Federal because

37:10
it's a federal forgiveness it's

37:12
considered income under federal law so

37:14
in his case that's 25 for each ten

37:17
thousand so that's five thousand dollars

37:18
in taxes to forgive twenty thousand in

37:21
loans speaking of taxes I'm still

37:23
waiting on the taxation of Bitcoin to

37:27
unwind

37:29
they're they're really they really

37:30
haven't addressed all of this yet

37:33
on bitcoin it's going to be worthless

37:35
pretty soon

37:36
but the good news is they'll be able to

37:39
they'll be able to carry over their

37:41
losses at the rate of three thousand

37:42
dollars a year

37:43
for a long time for a very long time

37:47
until the next scam comes around

37:49
so it's um that one that one's been

37:52
interesting to watch I think the last

37:54
time we're on it might have been at

37:56
forty thousand or fifty thousand I don't

37:57
know but um you know I look at it today

38:00
I think it's down again it certainly

38:02
isn't a contrarian

38:05
um place to put your money like like it

38:06
was pitched it's running straight with

38:09
the markets so that goes back to [ __ ]

38:11
boy and semi Infinity feminine mail

38:13
Andrew Ross Sorkin bringing on the CEO

38:16
of microstrategy week after week after

38:18
week after week on CNBC all right and

38:22
this guy's this guy's taking

38:23
microstrategy money

38:25
and taking corporate funds

38:28
converting those funds to cryptocurrency

38:30
disease and then he's going out selling

38:32
stock bringing in the proceeds from the

38:34
stock sales buying more crypto uh and

38:38
the SEC is just sitting there with their

38:39
finger going it's okay with us this Road

38:42
to Perdition is okay with us and and I

38:45
don't know when that deal blows up I I

38:47
you know I don't know where that guy is

38:49
I don't follow it that closely but

38:51
there's no there's no way that makes

38:52
sense the only way that makes sense is

38:54
if he keeps buying more but you know I I

38:57
don't know how you're allowed to use

38:58
corporate assets to buy fake money

39:01
um Marty can you talk about bonds

39:03
without

39:05
your head popping off about BlackRock if

39:07
not go ahead and let it pop off I want

39:09
to hear I want to hear because you you

39:10
said something so funny about BlackRock

39:12
the last time I was about well

39:14
blackrocks is selling to people their

39:16
crappy bonds I had so many people email

39:19
me and go what did he just say I'm like

39:21
that's what he said yeah well

39:24
BlackRock is in the news over this thing

39:26
in the UK yesterday I you know I'd have

39:29
to read I'd have to actually read the

39:30
the Internet to read it to you but it's

39:32
in my radio program black rocks all over

39:34
that stink pot Black Rock has

39:37
um a lot of interest in pensions over

39:39
there they use different phraseology

39:40
than we use over here for in different

39:43
names audience wouldn't know who these

39:45
people are but BlackRock BlackRock

39:48
threatened to call the notes do

39:50
yesterday

39:52
if the UK proceeded with the uh with the

39:57
uh support of the guilt

40:00
and the British have so many currencies

40:02
I don't even know what they all are uh

40:04
they were going to they were going to

40:06
call their notes due

40:07
and so that's one of the reasons that

40:09
the UK stopped yesterday actually they

40:12
did this before the UK announcement

40:14
yesterday so that's in the show it's in

40:17
uh there's a Wall Street Journal article

40:18
on it so you can you can bet that

40:21
wherever there's evil and Corruption

40:23
blackrock's not far behind and and we

40:26
get every time we do this about them

40:29
we we get calls from clients saying I I

40:32
don't want anything to do with BlackRock

40:34
give me something else well they're all

40:35
the same way the I the idea is that that

40:38
BlackRock is you had to then you were

40:41
talking yeah Jim Cramer the other day or

40:43
somebody talking about uh ESG which of

40:46
course BlackRock is the core of that

40:49
that's a complete otherwise that's a

40:51
complete scam in and of itself and you

40:54
know environmental social and governance

40:56
and uh blackrock's fingerprints are all

40:58
over that sure

41:00
um

41:01
and this is and and so they're they're

41:04
large contributors to the Democrats and

41:06
the goal is to to well you're going to

41:10
hate this because you're the annuity man

41:12
that's okay blackrock's biggest goal and

41:15
well this is bad for your business

41:16
because BlackRock wants to run you out

41:19
of the annuity business BlackRock wants

41:20
to put annuities in everybody's IRA and

41:24
I don't know you know you start working

41:26
at uh it's not listen it's not going to

41:28
affect me because people just like when

41:31
they come to you they want the facts

41:33
they come to me they want the facts it's

41:34
I mean they're not going to just accept

41:36
it now yes they want to sell those type

41:39
of firms want to sell to the lower end

41:41
of the market nothing to gets them to to

41:44
instead of them putting it in a in a

41:45
Target day fund they put in an annuity

41:47
that's that's actually criminal in my

41:50
opinion that's garbage for anyone at 23

41:54
or 27 to put their money in a in a

41:57
deferred income annuity for to Pat at

42:00
age 50 that's the dumbest best most

42:02
non-fiduciary thing I've ever heard in

42:05
my life I haven't taken my shirt I'm

42:07
wrong and I'm sure I'm wrong I I haven't

42:09
taken my annuity test in a long number

42:12
of years but I I thought at some point

42:14
it was you weren't it was it wasn't

42:16
suitable to sell them to anybody under

42:18
50. that's that's what I'm about don't

42:21
call me unless you're 50. please don't

42:23
and even then

42:25
you're a little you're a little young

42:26
and they're talking about yeah if you

42:28
buy this annuity at 22 what what

42:32
are we talking about man and we look at

42:36
their we look at the alternatives for

42:37
that we look at the Target date funds

42:39
which is the other biggest piece of scan

42:41
but the point whole point was

42:42
blackrock's got to have political

42:44
permission to sell that stuff to put

42:47
that stuff in your 401k blackrock's got

42:50
to have the government's permission so

42:52
you know and you notice today that what

42:54
they did today with the budget is uh as

42:56
last I heard they they withdrew that

43:00
measure where a congressional

43:01
Representatives could not be invested in

43:03
the stock market they pulled that offer

43:05
correct correct correct and that's so

43:08
polesies plus he's having can continue

43:10
to make make less money okay here's one

43:12
for you Marty I'm sure you're pretty

43:15
happy about the 85 000 new IRS agents

43:18
yes or no

43:19
I don't think we see them I I think

43:21
there's uh okay

43:22
that's the bright spot the bright spot

43:24
is November 8th

43:27
the singular largest

43:30
contributor to inflation Joe Biden

43:33
spending

43:34
should become neutered to become

43:35
hamstringed

43:37
and that should be according to McCarthy

43:40
the first thing to go

43:42
the very first thing to go I don't trust

43:44
either party listen as long as the

43:46
Republicans have Mitt Romney and Lindsey

43:47
Graham in the party I'm like whatever

43:49
man how do you side with those two

43:53
characters come on that's that's insane

43:56
who's going to win the presidency down

43:58
the road two years from now Marty

44:00
parlato I don't even know who's gonna

44:02
run

44:03
um are your two favorite people gonna

44:05
run

44:06
who are they that would be Biden and

44:09
Trump

44:11
we have a lot of clients now you know I

44:14
used to take a lot of heat you know you

44:16
may know my my advertising guy less I

44:19
don't know if you know it or not yeah

44:21
less says Marty you got to stop bashing

44:23
Trump I said well he's got to stop doing

44:24
stupid stuff and then I'll stop bashing

44:27
Trump

44:28
and um

44:30
and uh yeah and the more ice you know I

44:34
I stopped getting phone calls from

44:36
clients saying stop bashing Trump most

44:39
of them tell me now that they would

44:40
rather the party move on so if you had

44:43
if I had to guess now it'd be DeSantis

44:45
um to be the next president and um

44:48
versus versus the uh the Kindle from

44:51
California

44:53
ah

44:55
yeah I saw him today he he's gonna be

44:58
the big bad guy he's going to take it to

45:00
the Republicans yeah yeah sure listen I

45:04
was just in San Francisco on business

45:05
over the weekend this past weekend I'm

45:07
telling you right now

45:09
San Francisco is chaos

45:11
and and I didn't believe it because I

45:13
hadn't been there in a few years but I'm

45:15
literally Marty stepping over human

45:18
feces as I'm walking down through the

45:19
best District of San Francisco the

45:22
shopping district I I couldn't believe

45:24
it I was I was not assault is not the

45:27
word that means that laid hands on me

45:28
but I had conversations I talked to a

45:32
gladiator I talked to all kinds of

45:34
people so let me see if I understand

45:36
your complaint let me see if I

45:37
understand your beef yes you're okay

45:39
you're okay with people borrowing

45:42
hundreds of thousands of dollars to

45:44
finance student loans and not paying it

45:46
back but somebody accidentally poops on

45:49
the street that that that that makes you

45:51
angry I'm not I'm not I'm not okay with

45:53
either one of those

45:56
um you know

45:57
I will tell you that the uh the poop on

45:59
the Street's a little bit more visceral

46:01
and real

46:02
um you know when you're there but um I

46:05
will tell you the best and this is off

46:07
the subject so people hang in there with

46:08
me because you know Marty and I friends

46:10
and I forgot to tell Marty this story

46:12
even though it's on air and recorded the

46:14
best Street Vet the best street thing

46:16
I've ever seen you got these people

46:17
they'll play drums and some play when

46:20
some rap and some play the saxophone so

46:23
one guy was he was the most buff guy

46:25
I've ever seen he had on a pair of jeans

46:27
African-American no shirt shaved head

46:31
and um guy walks up to me goes

46:34
give me 100 push-ups gave me like 20

46:36
bucks the dude drops right there Marty

46:38
does 100 of the most cleanest perfect

46:41
push-ups I've ever seen

46:43
so of course I'm like okay that's I'm

46:45
that's pretty good because after that of

46:47
course you got to take me to the

46:48
hospital because first of all I couldn't

46:49
do a hundred percent right not like that

46:51
I watched this guy do at least 500

46:55
push-ups and about a seven to Fifteen

46:58
minute time period and he wasn't

47:00
breathing Marty and I'm thinking to

47:02
myself that's the best gig I've ever

47:04
seen I've never seen anything like that

47:06
I was mesmerized by how this person

47:09
could be in such shape and you know he

47:11
hadn't eaten in a while and whatever

47:13
he's probably drinking

47:15
it was great I know that has nothing to

47:17
do with phone annuities or markets but

47:19
I'm I'm just saying you have to look at

47:21
life

47:22
in the lens of just look pure enjoyment

47:25
you got to find some happiness in life

47:27
and that Marty I found it on the Streets

47:30
of San Francisco with Mr push-up he can

47:33
do it man we we had a little fun on the

47:36
cruise we got to go to Turks and Caicos

47:38
nice which um as far as I'm concerned we

47:42
make a good prison Colony that's about

47:44
uh especially now that it's been blown

47:46
over by the hurricane again got to see

47:48
the mules or the donkeys or whatever

47:50
rolling around and you know those are

47:54
the small things in life that you can

47:55
look forward to we got our new uh Gemini

47:58
Private Client portal golden mugs yeah

48:01
for people most are most people are

48:03
listening to some podcast platforms

48:05
they're actually working out Marty

48:06
they're driving cars and Porsches and on

48:09
pelotons he he held up a really cool

48:11
gold mug

48:13
of the golden eib microphone and then

48:17
think of a 10 ounce coffee cup

48:19
it's the same no doubt all right we're

48:22
we're coming to the end as I always do

48:25
Marty with my celebrity guest house and

48:27
you are a celebrity is I is the mic drop

48:30
moment where I hand you the mic and you

48:33
why you've been wowing the crowd anyway

48:35
but this is it man you get one last

48:37
minute to wow him and tell them walk

48:40
away and they they end the podcast and

48:43
go man that was fantastic I'm gonna

48:44
count you down mic drop moment Martin

48:47
parlato lighthouse retirement.com in

48:49
five four three two one go Kathy woods

48:53
and Arc is right

48:55
if as Fed chair Evans said this week the

49:00
Saints should be over

49:01
in the first quarter the market is

49:05
supposed to start looking

49:07
forward if you're supposed to start

49:09
buying this Market in anticipation of

49:13
things getting better as I look on my

49:15
screen lamb research is up from 365 to

49:18
over 370 at the close so a little bit of

49:21
buying must have come into the market at

49:23
the end

49:23
you gotta do it's it's it's held to be a

49:27
retirement client and and let and and

49:29
Stan will tell you it's never been easy

49:30
to be a retirement client but if you're

49:33
an investor

49:34
you just got to hold your nose and own

49:37
great stocks and hope the market comes

49:40
to you if you're an income client well

49:42
that's what they make annuities for and

49:43
that's what they make bonds for and um

49:47
stands perfectly capable of helping and

49:49
in all of those regards but um that's it

49:53
hang in there November 8th right around

49:55
the corner that is the infamous

49:57
Marty Martin Marty parlato Lighthouse

50:01
retirement.com one of the Premier

50:04
one-on-one money managers you'll ever

50:07
encounter if you don't try to hire them

50:09
I don't know what's wrong with you he's

50:11
a fantastic dude I really enjoy it Marty

50:14
thanks so much for joining us and I want

50:15
to thank everybody on the podcast both

50:17
on the fun with annuities YouTube

50:19
channel and all the major platforms we

50:21
will see you next time

50:27
[Music]