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Biden’s Bumbling, The $4,000,000 trashcan study, HSBC Bank and Boeing's Criminal Conviction and Joke Fine Ep-1717

My friend and brother, Zach Abraham, joins me live in studio. We talk about Boeing after they have agreed to plead guilty to criminal fraud conspiracy charges, criminal fraud related to fatal 737 MAX crashes in 2018 and 2019, and agreed to pay a $243 million fine. Sean Davis, the managing editor of the Federalist points out, "A court fined Donald Trump two times more for accurately appraising the market value of his home than Boeing got fined for killing people." Zack also brought along several of his charts and we dive into a discussion on the economy. 

Episode 1,717 Links:



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Native Path

Duration:
55m
Broadcast on:
12 Jul 2024
Audio Format:
mp3
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Granger, for the ones who get it done. - Figurehead started two hours late, two hours. Here we are starting a little bit late for people watching and they were listening live by about two minutes and we're gonna apologize. Figurehead didn't even apologize. Zach K. Verhams with me, he did not watch, God bless him, the Big Boy Press Conference. So we're gonna get him some video from that responding live time. But there's a lot of financial stuff we'll talk about. And he's on vacation, so it didn't wear the wise council shirt. If you're watching, it's in the closet. If you have anything to go get it, I'll go get it during a break or something. Yeah, I know, you get your boar. - For us. (laughing) - We'll get into that. We'll get to Biden's bumbling, a $4 million trash can study. Zach has some wisdom about HBC Bank, Boeing's criminal conviction and joke fine, so much to get started with. We'll start with the help of alensoaps.com/todd and God almighty. (intense music) - Todd Herman's show is 100% disapproved by big pharma technocrats and tyrants everywhere. Now, from the high mountains of free America, here's the Emerald City Exile. Todd Herman. (intense music) - Today is a day the Lord has made and these are the times to which God has decided we should live. So good to have Zach in studio with me live. Those who are on the live feeds, you can even ask questions of Zach. Man, you know what? I didn't tell my friend Tom about this 'cause I was afraid he would have camped out here. (laughing) You would have been driving up in the morning, like, "Oh, Mr. Abraham is here." I'm just joking, Tom. You enjoying your vacay? - Well, I am, but I'm also, I guess I was doing my own Biden impersonation this morning. - Yeah. - It was two hours late. I was 45 lately. You thought I was gonna beg on you and that. - Oh, no, I gotta tee it up myself. I gotta hit it before you do. No, yeah. And there really is nothing to the story. I was sittin' there sittin' my coffee and then-- - Yeah, you're in this beautiful-- No, you gotta set the scene. Pull your mic up to you. You gotta set the scene. You're sittin' there. You guys have rented a 12-room mansion. (laughing) Couple different helicopter pads. You're on one of the decks. - Yeah, we flew the helicopter in by the way. - Okay, good, yeah. - No, just first of all, we've never, the only time I've been to Coeur d'Alene was last year when we came for the function of your church. - Yeah. - And as a kid, I spent some time on Ponderay. That's gorgeous, too. - Yeah. - But we'd never stayed here. And so we rented a house up in Cave Bay and a little bit out of town, but not too bad. I was tellin' my next-door neighbor, when you don't have to deal with traffic, a 40-minute drive is actually nice. - Right. - I was listening to my podcast sermons on the way in, you know? - Yeah, yeah. - So anyway, so I wake up this morning and it gets light on the lake so early. It was light at like 5.15, you know? And sip of my coffee, watchin' my sermon, takein' my time, oh, I gotta leave at 7. And then just goin' through emails again, checkin' it and I went, oh, no, no, no. We started at 7. So, yeah, I wish there was a better story to it, but here we are. - That's the way stuff happens in vacay. So you didn't get to see a moment of clarity yesterday that the figure had two hours late and he came in after, I cannot wait to show you this, because, you know, the 51st state, the boss of the 51st state, Zelensky was here. - Yup, yup. - And so you know what that means financially. - Yup. - Okay, you got to see this and hear this, and ready? - Yup. - All right, we hope this plays, 'cause we didn't get the test, here we go. Oh, turn the sound up. Okay, let's start it again, here we go. There we go. And now I want to hand it over to the president of Ukraine who has as much courage as he has determination. Ladies and gentlemen, President Putin. - President Putin. - Hey, look, it's, I can't. I don't, the human/Christian side of me. - Yeah. - I feel bad for the guy every time he talks. The fact that anybody is, the fact that, I mean, Chris Matthews is like the biblic, or the, excuse me, the dictionary definition of adult. So I just don't think he's a very smart man. You know? - Yeah. - I don't, I mean, you know him. - No, I don't know him. Do you know my Chris Matthews story? - No, but I heard you teeing it up, and I-- - You don't know the story? I don't think so. - So I'm sorry for people who've heard this before, and I just said, okay, I'll tell it, but I'm not telling it next week. - So I'm in the Acella lounge in New York City. - Okay. - Okay, so this is where people who are spending their bosses' money, or rich people, in my case, I've, well, aren't seeing money. - Other helicopter people. - Right, other helicopter people. - Yeah, there you go. - So we're sitting in the Acella lounge, we're in the business class, the first-class train, for the Acella corridor, famous corridor between New York and Washington, DC, the corridor of power. And Chris Matthews is in there, and he is lit, and the drinks keep flowing, he is loud. - Shocking. - Right, and he's instructing everybody and everything. And I'm trying to get work done, and I just find that treatment of people very obnoxious. So we get out of the, they come and get the important people, us, so that we can board the train before, you know, the stinky cometers. And we're standing there in Central Station, and he's still holding court. Okay, this is bugging me. So I get on my phone, I pretend to make a call, and I go, honey, oh my gosh, yeah, no, I'll be back in DC tonight, but I'm just, I want to let you know, man, you're not gonna believe who's standing here. It's incredible, I'm like, I'm feet from him, I'm gonna go see if I can meet him. It's a guy from MSNBC, Ed Schultz. - Yeah, I was hoping you said Dan Rather or something. - And I said that, and he's a lot taller than you think, and he gives me the double birds. - No way, right, I'm like, oh, he's waving at me. (laughing) - That's so good. - It actually bugged him. - Oh, of course it does, these people are walking egos. - I know, I know, it actually bugged him. So there's a lot more we've got to get to with the figure head than we've got to get into your charts, you brought charts, there's so much financial stuff. So let me just do a quick announcement real quick about the Native Path Krill. Native Path Krill is a thing that has replaced ibuprofen. Let me just ask you this about ibuprofen. Honestly, this is my camera right now. All right, okay, now listen. Do you actually, what? Oh, oh, oh, you don't like me to go up and down and back and forth? I can see it on the screen. I know what I'm doing to the focus. I ate a stoop. Ibuprofen, do you think it solves inflammation? No, honestly, I'm asking you. I'll do it figure it out. - No one knows the truth. - Ibuprofen doesn't solve inflammation. It covers up the symptoms wall. It causes more of it by eating away your gut lining. I know you've tried the omega-3 fish oils. It hasn't worked. This is not fish oil. It comes from a crustacean. Far more absorbable in your body. Far more potent comes from cleaner waters, the Antarctic. It is wild-caught crustacean, a krill. And my experience is it replaced ibuprofen because it actually fights inflammation. It doesn't cause it. Go to nativepathkrill.com/todds, see the specials they have for you today. It's nativepathkrill.com/todds. Just got to get to the financial stuff, HBC Bank. We got to talk about the Alex Jones versus Boeing Fine. - We ordered our native pathkrill, by the way. - You did, yes sir. - Thank you. - My wife ordered 'em. - I love it. - Awesome. - Well, you give a lot of good stuff. - Good. - A lot of good tips. - Appreciate that. - Yeah, thank you. That's awesome. Let us know how it goes. Vice President, if it works, (laughs) it's a good work. The figurehead named himself a new vice president. So, Kami's, you didn't know this? - What? - You've been totally this, wait, you didn't even know this. - I've been on the lake, man. Oh. - I don't even have cable TV out there. - Yeah. - Oh. - And I've been taking full advantage of that. - No, Kami's out. - No way. - Don't believe me? Okay, watch, watch and listen. Ready? - Yup. - I wouldn't have picked vice president Trump to be vice president, so I think she's not qualified to be president. (sighs) - Ugh. (laughs) - Calm. - Calm. - This is like a three-legged dog that has cancer and just develop glaucoma. (laughs) You know what I mean? You're like, "Put him down, man." - Right. - Right. - And I don't mean-- - Wait, no, yeah, just clarify that. - No, no, I mean his political career, okay? I don't wish ill on anybody. - Yeah, I know, you don't. - I, yeah. - So when the Secret Service comes knocking? - I know. - What I meant? - Like I need that right now. - Right, right. Yeah, you can just have your people say, "Mr. Abraham must have clarified statements." But when he says this, there is a follow-up question later, and this reporter, in fact, will get to this in a second. If you're in that room and you're his staff, and there's a video, I didn't grab this, Tony Blinken, the beleaguered and corrupt secretary of state, when Biden says that, Blinken closes his eyes and exhales like this, he goes, and you're looking next to him, there's the deeply conflicted Lloyd Austin and some other people and their faces either go blank or like shut their eyes or that slow exhale of he just called Trump, vice president. Now, this is funny until you get to the War Room scenario. - No, that's what I was gonna say. What are your thoughts sitting in that room, man, hand that man, the nuclear football? - Right, right. And it's this, you're in the situation room. You have a five-minute decision, and this is pretending the figure had to run things. - Fire keeps people warm. (laughing) - What? - No, I meant higher than put the camera up. You can look past this or you can focus on it for what it is. Who's running things? - I mean, looking at it from the outside, I've just assumed that it's just kind of the deep state doing their thing, you know what I mean? - I do too, so who's the deep state? - The entrenched powers that be, - Right, right, I shadow government deep state, and I'm gonna talk, I'm gonna just show next week about that's inspired by that thought. Here's the thing that my wife and I were kind of wargaming in the kitchen. She said to me, "Why don't they just go to Biden and say, look, we've got the goods on you, you know, we've got the FBI stuff, we're gonna go full blast, we're gonna just blast you out if you don't step aside." And I said to her, "Oh, okay, they could do that, then guess what happens?" The Chinese Communist Party's Intelligent Services goes to them and says, "Are you gonna take a guy out?" Let's have a little sit down and Nancy Pelosi, here's some pictures of your husband, this is some video we have, they sit down with other people who are in the DNC and say, "So about those bank transfers and the money we've been giving your kids, so are we gonna, do you really wanna take our guy out?" That's where this gets very, very serious because do you think there's a constitutional order with a deep state? Do you think there is an org chart? - Clearly not. - Okay. - Yeah. - So in that war room scenario, we've got this decrepit mentally, and I'm not, I don't intend to be cruel just being accurate. - Yeah. - It's, Mr. President, make the call. - Ah, you're a doc. - Let me call Beau. - Right, right, Beau might be there. - Yeah, I'm sure he is. - Well, no, the other day I saw him petting an imaginary dog on stage, you know what I mean, where he put it down? - Right, right, I know, I know. So the reporter, a reporter, follows up on that comment about calling Trump VP. So respectfully, earlier you misspoke in your opening answer for the first Vice President Harris as Vice President Trump. Right now Donald Trump is using that to mock your age and your memory. How do you combat that criticism from tonight? - Here comes the kill shot. Now Biden's been a politician his whole life. Wait, wait till you get the kill shot. Zach, listen to the kill shot. Figurehead's done his grin. Lizard brain takes over, turns his head to the left, puts his hand back on the podium. Now he's gonna, oh, okay. Oh, you're gonna make me do it? Oh, okay, I'll light you up. Ready? - Oh, here we go. - Listen to him. - This concludes tonight's press conference. Thank you, everybody. Thanks, everyone. - Wow. - Yeah, what a salvo, right? Like what a return. I listened to Trump. - Yeah. I don't, so the interesting thing that you brought up is I hadn't really thought on that angle about leverage or something. The one thing I had thought, though, is that he's got, in my mind, I was thinking that he has something on somebody or a bunch of people because this whole thing doesn't make any sense. The fact that he's still in. At this point, I mean, I, he's out. I don't, there's, I didn't think, I didn't think that he'd end up being on the ticket a year and a half ago. I was in Washington, D.C. for about three months. - That's three months too long. - Yeah, three months in. And I had gotten an agreement from Michael Steele before he went insane that I had P&L control full stop over digital, higher fire full stop. I had vendor selection full stop. No one could butt in. I was forced to take on one must hire. And Michael said, if you don't, you don't. I'll find some else before I, I'm asking you to. And it turned out the guy actually had skills I needed. So it actually was a blessing and he did a really, very good job with it. - Was like his dad a donor or something like that? - Yeah. - Yeah, gotcha. - Now he's been at Facebook for, you know, 15 years. He's a very successful, very smart guy, very capable man. So I've been there three months. I mean, this decision, we're gonna hire these two vendors to build a web platform. Everybody thought we were building a website. We were building an interactive platform with an API set. So any developer could build an app on our website. That's why they destroyed it later. We've spent all that money. So anybody could build a go to victory app, a voter contact app, and interact with a voter database. After we left, they destroyed the code. They burned it. They literally said we want every scrap of it taken out one on a Y because it took money away from vendors. 'Cause when we started to build this, we had vendors come up and go, "Wait, we build a home call from home app." I go, "Right." And you charge us a hundred thousand bucks a month to have it. I'm gonna get a call from home app for free. And it's gonna be better. So I'm in there three months. That's what we were building. That's ultimately what we built. Even Mother Jones gave us credit for being better than the DNC. It was a weird thing. Three months in, I made this decision. Here's the vendors. And the guy who has, he's in prison now, this guy, by the way. He'd gotten a promise in DC from the committee. He would be the vendor. He came back furious from a trip. And I'm up in the leadership meeting and there's a knock on the door and it's one of my deputies. And I realized it's one of my deputies interrupting the leadership meeting. I'm like, "What are you doing?" He goes, "I'm sorry, I'm Mr. Chairman, I'm sorry. Todd, I need to see you." I go, "We are in a leadership meeting." He goes, "This is serious. I'm sorry. Mr. Chairman, I'm sorry." And Michael is like, "You're interrupting my meeting?" - Yeah. - And I said, "Chairman, I'm sorry. This guy never does this." I go downstairs, I'm like, "What are you doing?" I go, "You know how Michael gets about this?" He goes, "Todd, blank is downstairs." And he's threatening to destroy the whole place. So I go downstairs, I walk in. Here's this guy and his lawyer brother. And he says, "I was told, no questions asked. I had this contract. You, as an outsider, come in. I'm telling you, I'm doing this for your own favor, for your own good. Reputations are currency here. I would hate for people to find out that you have a bad reputation, that you are a turncoat." So I said, "Oh, well, I appreciate you looking out for me. You know, when I rose to be a, have a title of a global GM at Microsoft, I certainly never had to play internal politics with someone who'd stab me in the back. For instance, I never had to, let's say, position one of my bosses to be taken out. And I would hate for someone to find out that you have been in India, going around saying that you built Barack Obama's website and platform and that you're a Democrat. And I'd hate for people to find out that you've been taking money from Democrats to talk about Republican technology. I'd really hate for that to come out. And then his brother, the lawyer says, "Are you saying?" I said, "I'm saying what I'm saying." So, man, I'm really sorry. I'd hate for that to come out. Are we clear? And Zach, this is three months in. This is a website build. This is maybe a couple million bucks. We're talking here about a trillion dollars or more or more. So that war game, think about it this way. You know what people will do. Pfizer, big money, people who don't have your morals for big money. Think about who has everything in it. That's why it's not an easy thing to get rid of this guy. Does that make sense? Yeah, well, and like I said, you're the Chinese comments, who knows at the end of the day, but they resonate just because you're looking at this. I can't even believe we're having, every time I have this conversation, I kind of have to pinch myself in a good way. You're sitting there going, "Wait, wait a second. This is a debate." I was reading a doctor analysis of it and he goes, "This whole thing is ridiculous. The guy's got Parkinson's. I could diagnose him from across the mall." Yeah. And he's like, "It's plain as day." Right. And we're playing this game where we're still trying to pretend that's not the case. Right. I mean, it's just, and my immediate thought is, what does he have on people? Right? Like he's got... Bo has the Chinese Communist Party. We bought that seat. We own that office. Not Bo, Hunter has it. Yeah. We own that office. I mean, and when you have cosied your life up next to the Chinese Communist Party's intelligence services and God knows who else, Zelensky. You think Zelensky doesn't come over here and demand money and get money? You think there's a reason for that? I mean, he has people figured out. So there's... We're gonna skip ahead a little bit. I mean, I know people watch the press conference and the big web conference. There's a couple of things you need to see, but man, I really want to get into some of this financial stuff with you because I think it's very, very, very important. I got yet another note and I'll get this image to you next week. A guy had a Mercedes SUV and it looks like a really, really beautiful ride in his garage. I think he said long, long time. 12 months or something or let me longer. And he hadn't opened it. He got the Oxley 2 thunderstorm devices. Four of them put him in his car and he said 48 hours, it smelled like a rainforest. Now, I don't know about you. I had a Jaguar that was garage for a long time, probably a year and cars build up stink. There are going to be your cabins. There's going to be places like dorms like that. That thing's coming out of the wall when I go with these high school boys. Yeah, it's that little box over there. I'm taking that with me to be in this room with 10 junior high boys because it's going to keep the air fresh. I want our cabin to be nice. You can have this in your home. You do not need to have stink. If you smoke, gosh, please stop. If you have pets and cats, please eat them. No, I'm sorry, please, please, please clean the litter boxes. But if you'd like to not clean the litter boxes, just put an auction leaf to thunderstorm mix it. You never need to clean the litter box. Your pack, cats can urinate all over your home, and no one will know. Go to it, eatandpurdeels.com, enter code Todd3. And I'll save you 200 bucks. Whole home coverage. Three of these devices for under 200 bucks. It's eatandpurdeels.com use code Todd3. - You ever see the videotape where they take the cars like up to the Arctic and they're driving around like on ice tracks and stuff? - Oh, yeah. - Like the most. That's the equivalent of this thing. This thing's never been tested like this. A cabin full of 10 or 10 11 year old boys. I mean, my thought is you better take two. - Right. - Okay. (laughs) - I've got 11 year old boys. - Okay. - I'm just telling you. - All right. Well, then we'll make this a major, major test for the auction leaf too. So skipping ahead for a couple of things, but one is Biden at one point said, "You know, I'm falling in the orders of my commander in chief." Well, he probably is because Barack Obama is still probably stirring things in the background. He made a point that he'd been given a list of people to call on. He had the names, meaning he, those people agreed to ask specific questions. There's no other way you get in that list. - Oh, yeah. - Right? Peter Ducey surprised he didn't get called on. There is this moment, it's Biden seven, which is not on my list, but he actually, a reporter said, "You said, you called this guy president," or, "How can you say a bit for the job given the limitations you've acknowledged you have?" And he goes, "Well, the limitations." And he goes on to this, "Well, I have to go to bed earlier." But this is the thing I needed you to see. This is something that Trump posted on social media. And it's George Clooney from his role where he was an actor. And he was a guy who went around firing people. Now, watch this and or listen to this. This is so, so well done. President Trump posted this on social media. - So although I wish I were here with better news, the fact is that you and I are sitting here today because this will be your last week of employment. And this is not an assessment of your productivity. You got to try not to take this person away. - Well, I just had a bad night. (laughing) - That's so good. - Isn't that perfect? - That's so good. - Gosh, they got the looks right at everything. - Oh my God. - If you're just listening to this, the link is in the show notes. You can have a seven day free trial to the video show. So you can see this. It's video dot the Todd Herman Show dot com. I, I, I, something to me. Can we just one more time? Is that self-indulgent? Just, can we watch it one more? - Huh? - Yeah, go yeah. - All right. - So although I wish I were here with better news, the fact is that you and I are sitting here today because this will be your last week of employment. And this is not an assessment of your productivity. You got to try not to take this person away. - Well, I just had a bad night. (laughing) - I like, I always, how do people think of this? Like who came up with that? You know what I mean? - Oh, that's, someone has a ton of talent and recall. - Yeah. - And I bet you there's going to be more, it's quick. - Yeah. - And in a way, you know, it could backfire 'cause it gives you a little bit of sympathy for the guy. 'Cause if you've ever had that conversation of, we're going to need you to let you go. Those are not, and you know, having been on the other side, it's not a fun thing to sit someone down and say we're going to have to let you go. - No. - Right, that's why I never do it. I'm just walking and go, well, you know, right? (laughing) You know whoever here. So this is getting into the financial stuff. How much would you, how much do you pay consultants? And what do you think of consultants like McKinsey and Company and Delight & Tush, and they come in and they do these reports for government and for business? Like how much would you pay, for instance, to figure out if trash cans work? - Well, I mean, I've got a whole preponderance of evidence that they do. (laughing) I use them all the time. - Right. - So I probably not much. - All right, yeah. - Four million bucks. This is the Eric Adams paid McKinsey and Company four million dollars to study where the trash cans work. - Yeah, I would just immediately be like, which one of his kids or family members works for whoever he hired? - I mean, like, if people understood the hooks. - Yeah. - Right, that these companies have into these, but when I was at Microsoft, I had this proposal, wild proposal. Let's take our website, MSN. Let's view it as an operating system. Let's let people build apps for it. - Like open source? - Open source. - Yeah, yeah, that's a great idea actually. - And this happened because I walked into a room one day, there was a meeting and it was our room next and there's this thing where you lurk outside the window, you give people like five, 10 minutes grace and then you need the room and then you, it's kind of, it's culturally okay to open the door. - Yeah, you're polite but you let them know you're there. - Right, you're lurking through the window and then you open the door and I say, "Hey, you know, I'm so sorry to interrupt. We do have the room." And so, "Oh, sorry, I always saw you lurking. We'll get out." "Hey, what are you working on?" Oh, a gas calculator. Oh, cool, like you're gonna put one on this page? No, we're building one. A gas price calculator. Oh, wow, you know, there's a ton of those. Oh, I know but we're building a better one. 20 people in a room at Microsoft instead of just saying, "Hey, if you have a gas price calculator, put it on our website and we'll give you a share of ad monies." So I just write this proposal and it gets viewed. A lot of people like it and you know what the response was? We'll have Deloitte study this and they came in and I found that it was a $5 million review when what we could have done is set up a sub-site of MSN and tested it for about a million bucks. But a gas price calculator? A gas price calculator. Like trying to predict gas menses? No, finding out where the good gas was available. Like where's the cheapest gas near you? I know, I know, I know. So these companies are so tied into this. Now this is you alone are gonna respond to this. I'm gonna show you this image. You were all over Boeing early on warning about them. This is Sean M. Davis from the Federalist and if you throw that image up there, they find Donald Trump two times more for accurately praising the market value of his home than Boeing got fined for killing people. Boeing agrees to plead guilty to criminal fraud conspiracy charge related to fatal 737 MAX crisis 2018-2019, agrees to pay a 243.6 million dollar fine. Just let me just shut up and have you just do what you do. - I took a lot of flack for this back in, let's see, it was March, no, it was March 1st, 2019, I remember the day. - Yeah. - And the thing that's so frustrating about this is that it was so easy to spot if you just looked. Like, you know, and I'm not gonna try to tee this up like I'm some luminary that knew the few, all you had to do is look. All you had to do was look. You realize that there, first of all, a company like Boeing at their peak was trading at 30 to 35 times earnings, which is a joke when you look at their margins, you look at the costs, and then the whole narrative was, what got us teed off on it was the narrative was, oh, but they're more profitable now, right? They're more profitable now. And you're sitting there going, wait a second, wait a second. If they're that much more profitable right now, what that means is that every management team that came prior to this management team are complete idiots, right? Because when you think about what it takes for Boeing to source material, it's just a low margin business, period, right? And so there's just not fluff there to cut, like there's a lot of fluff, but you're dealing with, you're dealing with unions and when you looked at Boeing, nothing structurally had changed. What you had to believe is that these guys all of a sudden had just made this company, you know, like, well, we're no longer the old Boeing, we're no longer the old industrial company, now we're a high profit machine, and you're sitting there going, wait a second, this something doesn't add up here, right? 'Cause it just doesn't happen. All of a sudden you don't take a company that big, that mature, and all of a sudden they don't change business, they don't offer new products, but now all of a sudden they're, you know, they're making twice the margin on their airplanes. And whenever you see something like that, especially with an industrial company, there's an old adage of just stripping the plane, ironically, right, stripping the airplane, right, to get Max fuel, we're throwing out all the stuff. And that was my first hunt, so we started looking into it and you're like, these guys are stripping the plane, literally, and they're cutting corners. So then we started talking to employees that work there, and they're like, oh yeah, they go, with their cutting corners, we're not doing this, they ran me through, in 2019 when we did the show, I was on there talking about how, you know, Boeing is basically the forefather of redundancy, right? Double and triple redundancy and everything, that's like their claim to fame. That new MCAS system that they put in on the 737 Max, they sold it with one input. So, it's not a PTO tube, but it's like a PTO tube where it's collecting air speed and stuff like that. It only had one input. And I remember looking at the engineer and I go, wait, hold on a second. What if that goes, is there anything else they've ever done that doesn't have redundancy? And how do you not have redundancy on a program that is meant to basically compensate for the lack of aerodynamics, right? So, 'cause the only reason they did the 737 Max is 'cause they didn't have to design a new airframe, right? And so they could retrofit it basically. But then they had to put the MCAS system on there to compensate for the changes, 'cause they had to move the wings back to put on bigger engines and all this kind of stuff. And you're sitting there, so that program, that they designed to compensate for the inefficiencies or the change in behavior in which the plane flies only has one input, and I remember just being blown away, going, if you have anything like an airplane for people that don't, if you have no redundancy, it will fail. It will fail, right? And things fail on planes all the time, but they've got double and triple redundancy. It's not a big deal, you wouldn't even notice it, right? And so we start going through and you start looking at, they're talking about, oh, we're increasing profits. It was all cost deferments. They were throwing out maintenance costs. They were telling me how they were finding broomsticks that would have been left behind in the tail rudder. - That was what put that plane into a turtle bay. - Oh, was that okay? - I don't know that it was a broomstick, but it was that tail rudder that the mechanics came back later and said, oh, we've been taping these things together. - Yeah, yeah. - And then there's this, so this is another image, and this is why memes are actually very helpful, because this puts society and government into a huge spotlight. Look at this from way of the world, Boeing gets fined less over the deaths of 346 people than Alex Jones got fined for saying things. - Yeah, yeah. - Now, it's a different court and Jones was wrong about the school shootings, grievously slow. So I think he emotionally harmed people. I know he did a billion bucks. - Look, it's like regulators in general, and I don't need any beef with any regulators out there, so I'm not trying to take personal shots here, but they don't, when you talk about the big boys, and this kind of was right along the same lines that we were gonna talk about, or what I was gonna talk about with HSBC. But the issue here is that if they really go after them hard, it's almost like the regulators and situations like this are part of the company. - Well, I'm saying. - Remember this, that the-- - 'Cause they signed off on it. - The FAA let Boeing regulate itself. They did, the FAA said we'll let Boeing regulate itself. All right, we're gonna shift into a chart of Palooza with Zach, because Zach is currently providing some charts. We do need to talk about HBC. It's actually in the show notes or the show title, so we need to do that, and I'm looking forward to that. You brought us a whole bunch of charts, and we're gonna go through this. We can start with HBC. You seem to think HBC is a pretty important story. HBC bank, you wanna just start there? - Yeah, so this really gets to something that we're trying to touch on all the time, which is trying to get people to understand that the economy is not what you think it is, that the financial system is not what you think it is, that it's so much more contrived and so much more, I don't wanna use the artificial's not, I mean, it is artificial, but it's so much more centrally planned, right? And one of the ways that you can look at that is, look at HBC and look at the horrible things that they've been associated with. HBC has basically single-handedly helped the Mexican, or excuse me, not just Mexican, but the drug cartels become extraordinarily more profitable. - HBC has. - HBC, yeah. - HBC, yeah. And the way that they've done that is through being loosely affiliated with a series of launderers, financial launderers, mostly based out of China, right? And then some operating inside the US, and they've gotten it down, the efficiency levels that they've gotten down to are pretty remarkable, meaning they're laundering cartel money for one to 2%, one to 2%, which tells you how widespread it is, right? - Okay, I'm sorry, a home loan for a working American is what percent right now, three, four, five, six? - Oh, no, no, no, seven, six, seven, somewhere like that. - A home loan for a working American citizen is 7%, the home is collateralized. And the drug cartels are getting-- - Laundry. - They're paying 1% to have money laundered. - Yeah, to clean it as clean as a whistle, baby. And-- - And they know this. - Yes, and HSBC is basically enabling that, but it brings up, it gets to a point where you sit there and you go, if you have a bank that operates in a hundred different countries, who do they answer to? - Shadow government question, is there an org chart who's in control, right? Who holds fiduciary duty? - Which is a home. - Yeah, nobody, right? Who's their loyalty to? Right, what system of regulations is they adhere to? None, right? I mean, they're just open to the biggest bidder. And that's one of the biggest problems when I'm banging on these huge companies that are all multi-net. Like, it's just an observation of fact, which is when you get to that size, you are by definition, you're a risk, you're a geopolitical risk for that government, right? Just because you're not beholden to them. - Okay, you just answered your own question again about why they can't grow into a Biden. Biden's family was worth $150 million or more of these guys. Now, that's chump change to the Chinese Communist Party, but it's not something they're gonna let go. You know this, and I know this. When you're in the business of Thuggan, it doesn't matter if it's 50 bucks or five million bucks, you're gonna get paid, because you let 50 bucks go, now you develop a reputation as a guy who lets something go. - That's right. - You gotta bring some legs. - I'm sorry, but HSBC, according to you, we are analysis, they have a reputation. They've said, lowest bid in town, you're cartelin', this would mean not just drug money, 'cause the cartel's funny thing, they don't just do drugs, they do sex trafficking. - Yeah, well, and HSBC was at the heart of the Panama Papers. Remember when that came out, the Panama Papers? And so, anyway, there's some really interesting documentaries that you can find on HSBC on YouTube, but I think, and we could probably sit here and go on about HSBC for two hours, but people really need to understand that so much of this is contrived and controlled, and it's not what you think it is, that the winners are getting picked, and you look at HSBC, why doesn't anybody really go after them? They truly are too big to be regulated, right? They're too big to fail, because the economic disruption, that's the whole deal, I need to get enough liabilities on my balance sheet to where nobody can yank my chain, right? And that's the game they're playing, and if you look at the consolidation in banks since the financial crisis, right? The only banks that went out of business have been the banks that hadn't virtually nothing to do with it. - Incredible. - And so, you literally just built the power of the banks that caused and facilitated the whole thing to begin with. - That's, you and I've agreed in the phrase for our central bank of conjuring. - Yeah. - You talk about too big to fail, this is from oilfieldrando on Twitter, and he's pointing to this story, this is the Hill story. Just in, prices fell in June for first time since pandemic. Oh, cool, prices fell. And then oilfieldrando says this, you get a few paragraphs in before discovering that prices did not in fact fall, that the headline is completely false, and the grocery store article picture is grossly misleading. Prices, and this is from their own article. Prices in the consumer price index core, which removes the particularly volatile categories of energy and food, advance one-tenth of a percent in June after climbing two-tenths of a percent in May, and three-tenths of a percent in April. Average over the last three months, core CPI has advanced just 1.1% firm and noted. Food prices increased by 2.2% annually in June, while energy prices were up by 1.1%. But the headline is, prices fell in June for first time since pandemic. We've been talking about this for a long time, too, where I've been saying, "Hey, guys, inflation going down "means that prices are still going up," right? People better understand this. Yes, inflation is a rate of change. When it is positive, prices are going up. It doesn't matter how less positive it is, prices are still going up. You haven't seen a price reduction anywhere. I mean, not in mass, right? There've been some things that go up and down or whatever. But no, and then they, "Oh, look, "we brought inflation back." And you're like, "Man, prices are still 35% higher "than they were in 2019, pal." Right, and this is the continuing conjuring of what is, in fact, I think a faked-up economy. There is, I think that's probably right now, being faked up in your mind if you are extra heavy. And I mean this, because I did this to myself. I have told the story, in fact, I told a friend about this the other day when I was addicted to fast food. We were talking about addictions, and I actually opened up and said, "Yeah, here's my behaviors." When I was addicted to fast food, going to two McDonald's in a row, but making sure to hide the wrappers and making fake phone calls. So, "What? Oh, what'd you guys want?" "Oh, yeah, okay, I'll get that for you. "Hold on to my new line." And so I was a fat, you know, 400 pounds. And I was on the phone like pretending all this food is for someone else. When, in fact, it's my second stop at McDonald's in like an hour. I was that much of an addict. But I was telling myself, I don't know what lies I was telling myself, but my friend said to me, "Were you doing that for you or them?" Those lies, I go, "Gosh, I actually don't know probably for myself." If you're extra heavy, there's some lies you're probably telling yourself. Well, my family was, and I'm okay. All right, really? It's not that bad because I can still walk and do things, and I carry my weight well, and I'm just big-boned. Okay, some of that's true. People do have big bones. Sometimes it's very difficult to take off fat, but here's one thing that you probably have because 100 million Americans have it. That is fatty liver. Okay, big deal. It is. A fatty liver is an inefficient liver. An inefficient liver cannot properly cleanse your blood and cleanse your body of toxins. It can't eventually do that. And it can become liver disease. Right now, it's causing you to feel sluggish and slow, and guess what? That makes exercise hard. People who make liver health formula will help you with this with the 365-day money back guarantee, and every time I talk about their product, they tell me to tell you this product should not be something you take for the rest of your life. This is something you should take while you address the core issue of body fat, and this can help with that. You can go right now to getliverhelp.com/todd. You'll get two free gifts when you purchase the 30-day supply that's getliverhelp.com/todd. Just please don't lie to yourself. This stuff adds up. There is a cost to carrying that extra weight. I have paid that cost. I do understand it. We should have thought ahead and created a chart of Palooza music for you so that you could kind of walk on and now from the high mountains of free America. It's chart of Palooza. This is a three-month correlation between S&P 500 and the number of stocks advancing. So mindful that a lot of people, most people are listening, not just watching. Let's go through this, and what this indicates to you as a guy who stewards, well, my money, and that of a lot of other people. Well, look, I think that we have to be very careful not to, you know, there's a difference between assessing conditions and then drawing conclusions, right? And we cannot draw conclusions, and I want everybody to understand that that's not what I'm doing because we've never been here before. - So you see this massive drop, this dot way down at the bottom on the right-hand side of this correlation between stocks and a number of stocks advancing? - Yeah, and then you look at the only other previous mark that is relatable to that, and it happened right at the beginning of the 2000s, so 2000, 2001. If anybody has even a rudimentary, or knowledge of the market, you'll remember that there was a pretty significant event that took place at the beginning of the 2000s. - I seem to remember. - The tech crash, right? And so, look, I am not, the setup here is different because so many of those companies back then didn't even have profits, okay? And so, the differences here, the companies that are advancing now, they've got extraordinary profits. So they're not the empty suit that so many of those were, but the issue, it's still a huge issue because you've got the stock market going up, but the number of stocks going up is virtually nil, right? It's one of the, I mean, it's even worse than it was at the beginning of the 2000s. So, what it tells you, and this goes right into what we talk about in our virtual roadshow about inflation, meaning the reason for this, one of the main reasons for this is the passive investing craze. And when I say passive investing, what I mean is people are buying the S&P 500, right? People are buying the NASDAQ. They're just buying the index. And indexing was a wonderful solution for investors. Jack Bogle at Vanguard kicked it off, I believe in the '60s. It really took, started taking flight and getting some serious win in its sales in the late '80s, early '90s. And then it's exploded. Now you've got somewhere between 50 to 60% of every dollar invested is invested via index funds. Well, think about that. You don't really have to, if everybody is putting money into index funds, what does that mean? What it means is nobody is qualitatively picking stocks. We're just dumping them into the index and as we do that, more and more money, whatever stock has the biggest waiting in the index, right? Which is they're all market cap weighted, meaning Apple, every dollar you put into the S&P 500, Apple's gonna get six and a half cents. Insane. Right? Yeah. And so what you've got now is, you've got the mega seven stocks making up, so seven stocks making up about, I wanna say it's 25 to 30% of the entire weight of the S&P 500. If we look at tech as a sector, it's making up 40% of the S&P 500. People look at me and they go, oh, no, it's not because you're, there's one of the other sectors. They go tech's only making up 29%. What are you talking about? And it's communications, which used to be telephone companies, right? Well, I believe it's Facebook that gets considered a communications company. So when you really look at the tech companies, the ones that are sitting at the top of the NASDAQ, it's you're looking at about 10 to 12 stocks making up 40% of the weight of the entire index. And they're all in the same sector. Yes. And if you had a problem with core materials in that sector, or as you've pointed out, China comes along and goes, yeah, you know what, we're gonna go ahead and turn off all the apps over here. Yeah. Well, so yesterday was a perfect example of this, okay? So yesterday, there was a random sell-off in tech. NASDAQ was down 2.2% out of nowhere. The average stock in the index was up. Guess what the S&P 500 did. Now, so yesterday, the vast majority of stocks in the S&P were positive. Yeah. The S&P was down 1%. Why? 'Cause the same ride you enjoy on the way up is the same one that's kicking in the shorts on the way down. So this other chart is the S&P 500 percentage of S&P 500 members outperforming the index rolling 21-day return. So if I'm looking at this, I gotta confess, I see the line trending up on the top, and then I see the sort of EKG line down on the bottom. Yeah, just falling out of the floor, right? Okay, so you gotta explain the significance of this to me, 'cause I will confess this one loses me. So what this is basically showing you is that this is a market being pressed right now, simply by momentum, and at the stocks at the top. Because while the index is still going up, it's sort of like watching an airplane going up, and it's going up, but it's constantly losing airspeed. Oh, right. No. Yeah, because the average stock, it's not going up. Why is the average stock not going up? Generally speaking, it's because literally right now, earnings look very, very toppy. They're not accelerating, and yet the market multiples keep accelerating beyond them. Now don't get me wrong, this isn't doomsday, I'm not saying earnings are plummeting, they're not. But the stock market has truly at this point become completely disconnected from it. We've said it before and it was getting worse, but you're at a point now where the other stocks aren't even going up. But the metaphor you just used, of the airplane rising and losing airspeed, that means something to you. That means you better stop rising, or you better pick up the airspeed, because if you keep rising and losing airspeed, that seems to me to be then the nose starts to go down. Yeah, and I don't want to cite performance, but because that we can get sticky there. But our portfolios on average were up about .5.6 yesterday. Okay, S&P 500 was down one. NASDAQ was down like 2.1, 2.2%. The only reason, we didn't show anything, the only reason we were up yesterday and the market was down, is because we're improperly diversified. Okay, right. And by the way, as we are recording this program and people are watching and listening live, AT&T just announced, or The Epic Times has reported, look at this, data breach affecting nearly all customers. And there you go, that's a big company within that one tech sector, and that just came in and started talking. This is the Challenger US job announcement by industry construction, last price 46-13. So this is, again, this is a bar graph, and it goes left to right, and we see this number 46-13. So explain this to me as it relates to this economy, because we've also, in my mind, we've disconnected jobs from the stock market. In fact, the stock market's job is to increase while people lose their jobs, 'cause that's what tech does. Tech eats jobs, right, when it's operating properly. Yeah, so what this is really showing to you is something that we're watching very carefully, and the reason we're watching it very carefully. Now, again, there is no silver bullet, right? I've taken some flack because I've been calling out the yield curve for quite some time. Siding the inverted yield curve has an undefeated record up until the last two years of, when you get certain parts of the yield curve inverted for 16 months or more, 100% of the time you've had a recession, all right? That failed this time. And one of the reasons it failed, in my opinion, is because if you have central banks in there via quantitative easing. Conjuring money. Right, conjuring money, and buying trillions of dollars of US government bonds, right? So when somebody goes into a market and buys a bunch of bonds, you're gonna push the yield down on the bonds, 'cause you're gonna push the price. There's nothing in the world more frustrating than this cycle. Please, again, tell me if I had this wrong. The so-called Federal Reserve invents debt. Yes. And we owe it then. We owe that to them. Well, they, so no. So they print money and purchase debt from the US Treasury. Okay, who is the US Treasury? It's us, effectively. Okay, so they purchase debt from us? Yes. Who pays it back? Well, so technically speaking, so they collect interest payments just like anybody else does. From who? From the US government. Who's the US government? But, well, I mean, you being like the shadow US government? Where does the government get its money? They print it. Well, we tax it, yeah. From us? Yeah. Okay, so they purchase debt from us? Yep. And then we pay them for the debt they purchase? Yes. And then, they only keep the amount of interest they need to run the Fed, and then they actually give the interest back to the Treasury, the rest of it. It's a shell, I mean, it's just a giant shell game. Okay, this is the most circular and obvious money laundering for profits event in world history. Well, and this is one of the reasons that I was saying, look, maybe this inverted yield curve, it's certainly something that we need to keep an eye on, but it's why I was saying, don't put too much stock in it, because what is the yield curve right now? The yield curve used to be, because the, so when we talk inverted yield curve, what that means is that short-term debt is paying a higher interest rate than long-term debt, okay? And one of the primary drivers for that is, is that if you have people in market participants that are expecting a recession, what do central banks do in recessions? They cut interest rates. Okay, well, when you cut interest rates, you affect the long end of the curve typically more than you do the front end, the short-term debt, right? And so, just like when interest rates rise in 2022, the bond, or rose in 2020, 2022, excuse me, the bond that got hit the worst was a 30-year U.S. government treasury. I think at the bottom, it was down like 63%, okay, in like a 13, 14-month period of time. And you know how long we've been talking about get out of bonds, right? I mean, because it was an inevitability, right? The minute inflation showed up, rates were gonna pop and bonds were gonna get smoked, right? So we had the biggest bond bloodbath in history in 2022. But the reason the yield curve gets inverted is because as an investor, one of the ways that we held up, we barely got hit. I think we were down like 9% or something, 8%, 9%, something like that during the COVID crash when the market was down 36% in five weeks. And one of the reasons that we held in there so good is in middle of January, when we saw everything going on, we converted 25% of our portfolios to 20-year U.S. government bonds. Why? 'Cause we thought the economy was gonna slow and interest rates were gonna drop. And if I wanna make the most money, I buy long-term bonds because just like they get hit the hardest when rates go up, they make the most money when rates go down. And to give you an idea how much, 20-year U.S. government bonds over that five-week period of time that we own them for about seven weeks, they went up 32% in value, right? It's the same. So that's why the yield curve gets inverted. It's one of the reasons the yield curve gets inverted. There's some banking issues too, but it's investor expectations for long rates to go down, right? Well, when everybody's citing, "Oh, every time the yield curve does this," when you're like, "Hey guys, the biggest owner of that debt is now the Federal Reserve." The yield curve isn't really showing us what investor appetite is, it's showing us what the Fed wants it to be, right? And so funny enough, this time it didn't play out. You've had an inverted yield curve for two years and no recession so far. - Well, we've said many times in the program, the rules are right now, there are no rules. Zach, you've been incredibly kind with your time and coming over here and being with us, there's more charts we'll get to in another show. And I just, it's such a thrill to have you here. It is a mental relief. I mean, I love doing the show, it's easy work as my friends who are combat vets telling me, "Shut up, your job's not hard, there's no IDs, so shut up." But it is just a, it's enormous joy to be able to visit with you in the studio. Remember this, that God made real things, right? There are real common blessings. And my financial advice is this, give God thanks today for the common blessings of food, air, comfort, my financial advice. Take stock of what you have that's real, that you can touch and feel and hand on. That's my financial advice. This is the Todd Herman Show, please go be well, be strong, be kind to please, please, just stop making the effort and simply walk in the light of Christ. (upbeat music) (upbeat music) (upbeat music) (upbeat music) (upbeat music) [BLANK_AUDIO]