The Joe Rogan experience. Train by day Joe Rogan podcast by night. All day. Good to see you. Very nice to meet you.
Very nice to meet you too. I enjoy your content. Thank you. Very sensible person. And you do a lot of very uncensable people.
How do you keep your shit together? What do you talk to these people? You're a finance guy. And did you start out in debt and then figure out how to get your shit together? Yeah, exactly.
I was in college doing all the stupid American things, right? So I got that unlimited student loan debt for a bullshit degree. I was going from music composition. So complete bullshit degree. Maxing out every credit card, one of the first pieces of financial advice I got at 18 from the parents.
Max out of credit card to get the piano I wanted. So that's smart. Yeah, it's just the average American experience. You just max out of credit card. I don't know if your parents thought you anything about personal finances, but most don't.
It's bad. So is this max out every credit card? Like everyone that comes on the show? Like every American out there, we got $1.6 trillion in credit card debt in this country, by the way. Crazy amount of, crazy amount of defaults are to like 7% which is insane.
7% of credit cards are defaulting. That's crazy. Yeah. That is really nuts. All 10 default.
Yeah, that's absolutely insane. We have more auto loan debt in this country than credit cards too. It isn't even crazier because Americans, you know, they're big pickup trucks and everything. But either way, I was doing that. Got my Nissan Altima and, you know, thinking I was sick driving around and going in and in debt for that.
Family debt, everything. It was brutal, but it was the average American life. That's what people are going through every single day. And I finally got a wake up call. I just, I was sitting in my shitty apartment that I could barely afford.
And I realized the life I wanted to live just could not be sustained this way. I wanted to be a homeowner. See the American dream, pick events, all that shit? Yep. I knew it with Max out credit cards, private student loans, public student loans, everything.
It was a mess. So got a sales job, just started grinding it out, paying off the debt, fully funded emergency funds. And that's what I try to teach people now. But, you know, again, the average American is kind of an idiot with money, which is fair. Well, they're not just formed, you know, which is one of the things I think your content really helps because a lot of people don't know what to do.
Like you're in debt. Like how the fuck do I get out of this? And a lot of people, they know we're in debt. So they don't have good advice. They're not going to get from their parents, right?
So we're, you know, they have to turn to somebody. And a lot of times like financial people online are very stiff and they're not enjoyable to listen to. But you talk shit and you're very vocal and it's like, huh, okay, I get this guy. I can relate to him. Yeah.
Tell me what to do. So there's a lot of folks out there that connect with you because of that, I think. Yeah, they call us the Jerry Springer Finance, which I like, I take it. I take ownership. They meant it as a dig at first, but I take it because it's fun.
People, people don't go into financial topics because it's boring. Why are you clicking on a video of a dude just like sitting at the camera, just like, you know, IRAs or this? No one's going to get into that. Right. So I'm not going to listen to things there.
I can barely pass math. School is just boring. So people still aren't going to pick it up there. They want something a little more interesting to get into. And we give them that with the rose, the dramas, the relationships of couples episodes are my favorite because there's always financial stresses in relationship.
And I don't know if that actually gets people into personal finances. I don't know. I don't know. I don't know. I don't know.
I don't know. I don't know. I don't know. I don't know. I don't know.
I don't know. I don't know. I don't know. I don't know. But there really is so many people into personal finances.
That's the best because we get millions of views per episode on all platforms. It's kind of a crime that they're not explaining to people when they're young and in high school how this could be a problem. They're trying to set you up for life, but they're not setting you up for one of the biggest problems that most people face. Criticard debt and the big one student loan debt. That's the one you can't get away from.
And there's a lot of people that are just like well, I guess all I have to go to college and look, higher education is great. It's good to be educated. But if you're spending hundreds of thousands of dollars for an education that you aren't going to use at all. That might not be the best thing for you. And when you're fucking 18, you really don't know. You know? You don't know what you want to do. Your parents don't know anything
either. No, they might be retarded. You might have idiot parents. Well, no, the average parent in America is go to any college to get any degree and borrow whatever it takes. Yeah, because college is the answer to all. Because it used to be. Yeah. They used to be the way that you
got a good paying job. You get out of college and hey, you've got a degree. Oh, you got your master's. Well, you're, oh, where you're going to live? Where you're going to buy a house?
Like you're going to be set. What they don't tell you is that you are going to be saddled down with insane amounts of debt and then that debt compounds. It keeps going. So like, I was reading this thing. I mean, you can tell me about what the actual numbers are, but they were talking about the average actual debt that you owed, but what you wind up paying, what you actually wind up paying over the 20 years it takes you to pay it off. It's fucking
crazy. Yeah. It's substantially higher than the initial loan. Part of it is laziness too. People get on like that 20 year payment plan or 40 year payment plan because they want to spend a little bit, you know, just a little bit less right now because I'm going to make sense. You get out of college. You want to get an apartment. You want to live it up. You
want to go on nice dates and trips, all that good stuff. So you do the little, minimum monthly payment, but we think about it. I assume you have more. Do you have a mortgage? Yeah. Okay.
If you took that 30 year mortgage, but you're like, okay, I want to pay a smaller amount. Now, so it's right. It's a 60 years, the interest in overall payment. You're going to do is insane. So the student loan, a public student loan, it's actually a 10 year payment. That's the
standard. It's a 10 year payment. You'll be done in 10, but people stretch it to 20 years. The repayment assistance under Trump, the rap plan, that can be as little as 1% of your income on a monthly basis. That'll never be paid off. Those people will have forever.
It'll be forgiven in 40 years, it says, well, see, because you know, it's new. When people are doing that, they're going to have it forever. It's going to bloom and then they're going to complain about it when they chose not to just take the standard 10 year plan. I saw an article about people with social security. So they're retired and their money.
Their social security money is getting docked. It's getting docked because they're taking money out of that to pay for your student loans. Yeah. I mean, I'm obviously didn't work out for you because you're literally in debt from that student loan while you're retired from life, which is fucking wild. It is, but I'll be candid. I'm starting to not have sympathy
for the boomers. I'm really not. Best job market ever, best stock market in the history of the world. Every single boomer, Gen X, whatever, that's been on my show. They lived it up and spent all their money to live the lifestyle they wanted. And they didn't even set 10%
aside a month, 10% aside. They had the best housing market, college, jobs. They were set up for everything. If they just put 5 to 10% a month aside in the stock market that they had that they had, they would be, they would be multi-millionaires. Most of them would be multi-millionaires. But instead, we're in a situation where I want a new BMW. Yeah, you
can't pay their student loans, social security, 2033. That's when the funds dry. So payments get cut by 25%. Yeah, 2033 is when the funds dry up for social security. Yeah, the actual fund that's sitting there. So every dollar that goes out is money that's coming in. That's
projected 2033. Well, we have to pay for transgender migrants. This episode is brought to you by Squarespace. If you're thinking about building a website, you should try Squarespace. I know because I use it. That's right. JoeRogan.com is powered
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important, some of them have back pain. They need to be on social security forever. Yeah, we just had a clip go viral two days ago. Transgender woman Colorado saw the video now taxpayer funder boobs. That's nice. What do you explain it or the way she explained
it was hilarious, you know, like something about her body's priceless. So how much they cost their free. Yeah, I can't blame her though. I mean, the program's there, right? Of course.
So I take it if I wanted to do this, of course, but it's crazy that we are. And of course, when we filmed it was like two days after I wrote $4 million, you know, income tax check, whatever to the federal government. Right. And you're thinking about this, like, where's that money go? Going to tits, not funding proper social security. Well, we're talking before
about how Gavin Newsom wouldn't do your podcast. Yes. But it's probably because like that kind of debt when you think about like California's debt and California's spending and the waste and potential fraud, I look at it like a garbage dump. Like someone's saying, Hey, go look into that garbage dump and clean it up. Oh, it's too much. And I think that's how most
people look at it. They look at it like with 24 billions missing for the homeless. How much money went to that rail that fucking high speed rail like billions of dollars later. There's nothing done. Like what are you doing? Which is insane because America, the leader of
the world should have incredible high speed rail. Yeah, I want it. I want to go to Dallas, Houston in a couple hours on high speed rail. Maybe Texas could do it, but just give California anything and they'll find a way to mess it up and lose all the money. Well, this is like, the rail one is crazy because like nothing's but how much have they spent on the high speed rail so far? There's something bonkers. Millions. Some insane amount of money and nothing's
been done. And there's this guy on YouTube. Do you remember the guy on YouTube, Jamie? He's on Instagram rather. The guy was on Instagram who says in the same amount of time that it took California to not do that. This is what China's done. And it just over and over and over again.
All the miles of high speed rail they put in all of this, all of that, like for the same amount of money that California spent, this is what could have been done. It's crazy. Fucking nuts. It's private. Spent an order of mid teens of billions. Mid teens so far on the high speed
rail roughly around 14 to 16 billion dollars as of the mid 2020s. How much of it has done, Jamie? How much of that rail's done? Well, it is actually getting close to what? Oh my God.
Amazing. So what? Bakersfield. Yeah. How much is completed? 14 feet. Very little.
Under 19 miles of active construction. Oh, 119 miles. Madeira, dear Bakersfield, are under active construction. What a great way to spend 14 billion dollars. I bet the homeless people are pissed. You could spend that money on us. And then once it's done, you'll get on
the train. You'll have fair avators, people that just jumped over that are doing drugs on the train. If you were 25 in 1990, you made an average US salary for 40 years, saving 5 to 10% per month and the S&P 500. How much would they have now? They would have around two to five million dollars, depending on exact assumptions. This is hard for me to invade. We have the best
disposable income in the history of the world. This is how crazy inflation is. The average salary in 1990 was $21,000. Isn't that nuts? You mentioned someone told you you had to live off $21,000 today. You'd be like, oh, fuck. And yeah, even still, they could retire
multi-millionaires. Even still, even with that, it's beautiful. That is nuts if you know how to do it. But how would someone start doing something like that? Honestly, low-cost index funds. I'm sure you got a money guy. But for the average American, there's these target
date retirement funds. So, fidelity, whatever you want to use, they have essentially just pick like within the five years that you think you're going to retire. You just bind to that and it just, it balances it for you. It goes more aggressive now and just more conservative by the time you retire. It's so easy. There's no reason most people aren't doing it. Even in their
401k where it's free money matches and everything. It doesn't really make sense. So, did you have to teach yourself all this stuff? I mean, I'll be honest. Pretty much any personal finance book or just like, not even a class. Just watch like a couple of YouTubers
to draw YouTubers that maybe no one's watching. And you'll get it like this. It's super simple. That kind of stuff. It gets a little harder if you're thinking like, what kind of perfect insurance do I need? You know, if you're trying to individually stock trade, you know what scares
me though, people in our position, right now, people under 30, 60%, 60% of them are doing their portfolio trades based on the podcast they're still listening to. That's what's scary to me. What? Really? Yeah, 60% podcasts are giving them advice. Any personal finance. Any
personal finance. No, even on the kick or Twitch, there's streamers. I'll log on in the morning to see who's streaming and some of the top viewed people are gate traders. Really? With like 25,000 concurrent viewers that are getting hundreds of thousands of views a day. Okay,
so the kick streamers that are doing finance, are they just essentially letting people know what they're trading and what to trade? Exactly. It's crazy. So you can basically just mirror them. So you can say, okay, buy BlackRock. Whatever you want to buy, whatever they're
doing, you'll like sort of like the Pelosi stock trader. Yes, which I bought into the Pelosi fund. Yeah, it's doing really well. I bet it is. Yeah, I only put $1,000 and that's a little scared, but it's doing really well. It's meeting my own money guys. So kind of hilarious.
She knows what she's doing or people knows what she's doing. Yeah, yeah, someone knows something. Yeah, they know something. It's just, it's crazy that it's legal. It's crazy that you could know, oh, we're going to do this big deal with AI chips. And so Nvidia makes AI chips.
I'm just going to buy a shit ton of Nvidia stock and then boom, we pass this thing. Hey, look at that 500% increase. I think my thousands up like 20 or 30% in just a couple months. It's crazy. It's crazy. S&P 500. When he searched up averages 10% a year. So it's crazy. It is
nuts. You know, like, what are the laws? But it's like, you could clearly follow her. But what are the laws in terms of what she's allowed to do? Like, how much information is she allowed to have? Yeah. Well, that's what's hard to track, right? The insider trading is hard to
track. They're getting into that shit with Calci now. Right. You know, some of the people that were in the operation from Adoro and Venezuela, they're getting in trouble. George Santos, you know, George, did you ever have George Santos? No, but he's hilarious. Yes, he's hilarious.
Big investigation just opened up yesterday or today. Oh, he just got a pardon for some guess. He bet on he went on Instagram and he was like, Hey, guys, I'm gonna 100% be at the state of the union 100%. I'm gonna be there. Here's my seat. And then he immediately bet
that he will not be at the state of the union. Yeah. So four people close to him have been working with the FTC on that. Oh my God, he's retarded. Yeah. That's so dumb.
Parton and everything. That's so dumb, bro. You got free and you're fun. You should do a podcast. That guy should make millions doing a podcast. Yeah, he's been on other podcasts. He's good.
He would be great. Is this a sassy case? Perfect camera. Sassy, fun, smart, talks a lot of shit. He would be great as a host of a podcast. Don't fucking do scams like that. Yeah, insider
trading. So I guess that's his future now. Was it polymarket? What was it? Were they had odds on things that we do and what we're gonna say, what guests are gonna have on? Probably
both of them. Probably both of them. We looked at Jamie shut that fucking laptop and do not open that website ever again because like you could do it. Like we could. I want to.
But anybody could. I'm not going to. But I kind of want to bet that I would be on here. Right. Like what are they? Oh, it's like you could probably bet a substantial amount of
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simplysafe.com slash Rogan. That's half off at simplysafe.com slash Rogan. There's no safe, like Simply Safe. Both Pelosi who knows? I mean, other people in Congress, they want to pass something where they can only invest in like large cap index funds like the S&P 500.
They don't care. They don't care. It's also it's completely bipartisan. You know, it's not like it's, but Nancy Pelosi is the scapegoat she's one of everybody beats on. But if you look at it, it's red, blue, across the line. They're all doing it. They're all trading. They're
all making shit tons of money. They all go into Congress broke. They all come out richest fuck. Yes. They get $100,000 a year. Fuck off. Fuck off. It's crazy. What is a pull up
the Santos case? Why not? What's happening? I'm fascinated by that. Honestly, he, uh, it's a second. I guess it was yesterday. He was going to have to be my NPR and NPR was like, it's
news to me. He said it's news to him. He goes reached by NPR. Well, that's news to me. He went asked about the insider trading pro underway. This activity on Calshe. Santos said, I'm
not saying yes. I'm not saying no. Whether he got a calcium account. He went to the city co-founder of Calshe, Luanna Lopez, Laura is a fellow Brazilian whom he personally knows. He said he would call her to get to the bottom whether an investigation had been launched.
Santos promised to update NPR on how the call went. He did not respond to NPR's follow up messages. The thing is like he had some crazy background discrepancies that, you know, they deviated from the truth slightly, right? There was some other stuff. It wasn't just this.
Like that's what the guy does. Yeah. But meanwhile, he's in this amazing position. He's got a name. He's famous. People like him. He's fun. And he got a fucking pardon from the president.
Like bro, straight and narrow. Yeah. Get yourself a podcast. Get yourself a YouTube show. He would make some real money. He would make some real money. Yeah. I don't know. I don't
know what's going on. I don't think I really don't. I think I was just trying to get that get rich quick. Let's see. Jamie put it into perplexity. It says he built a bunch of his
public persona on false claims about his biography, finances and identity. And later also faced criminal charges tied to deception and fraud. Damn. He falsely claimed degrees from Baruch as I said, Baruch College in New York and NYU, even though even saying graduated summa cum lawdie, although he has no college degree. He said he worked at Goldman Sachs at city group. Both firms reported no record of him as an employee. Financing career, San Jose
Petritos Petritos has a seasoned Wall Street financier and successful businessman reporting a rapid jump in income and large loans to his campaign while journalists found big gaps and unclear sources of wealth. He claimed Jewish heritage and his grandparents were Holocaust refugees. Later backing off saying he was Jew-ish after his maternal family background, not actually Jewish. He also made disputed statements about being a landlord with a family real estate portfolio and about his mother's death being related to 9-11, although she died in 2016. That's crazy. What a king. I love him. There's a bunch more.
He said he founded a nonprofit that rescued 2,500 cats and dogs, but reporters found no records of such an organization. Cultural and lifestyle claims, Brazilian drag performers, shared photos of set-as-in-drag. He initially denied ever doing drag and later minimized it as just dressing up for a festival when he was young. That's a funny dude. That's a funny dude. Back to jail. Yeah, he's fucked. He was sentenced to 87 months in prison for
wire fraud and aggravated identity theft with officials describing his conduct as a mountain of lies, theft and fraud. His short house tenure ended with expulsion after an ethics report detailed misuse of campaign funds, including personal luxury spending. Fucking dude, you could have been in jail for 87 months and you got out and you blew it all on a bet. How much did you make off the bet? It's very fresh, the story. I heard it on the news this morning.
I don't think it's specifically how much? Because it was more about what he did. Do they track his account? I don't think they've announced how much he bet on it. That is hard to trace, which is why I think he did it. Those platforms are hard to trace. I think the poly market,
I think they're specific, even just in crypto on the back end. If I'm not mistaken or in those similar exchanges. It's hard to track. It's a good place to insider trade and he made some money. I listened to the news this morning. I said four people close to him reported him.
Yeah. When you're that kind of a fraudster, allegedly, and that kind of a liar, allegedly, you tend to not have close friends that you could trust. You probably fuck those guys over too. If they're turning them in, allegedly. I think it's funny though, because it's really unfortunate. He had a real opportunity. He became a public person.
Maybe he still does. Maybe he'll get another pardon. No, I got it. I got it. Give him a pardon for him. No, I got the first one. He'd probably be so mad if Trump got a phone call
from him asking for a second pardon. Why did he get the first one? Do you know? I have no idea. Let's find out. Let's ask. Yeah. Why did he get pardoned? There's a lot of people who
got pardoned where you're like, wait, what? Yeah. The Biden thing was nuts. Were they pardoned more people than ever? Ever? Any president ever? And how much of it was done with the auto
pen? So he's literally like barely there, right? We all agree at this point. I mean, there used to be to be always a starter. We all now say he was barely there. So someone
else was doing that. So what's the legality of that? What is the legality of selling pardons? And the preemptive pardons, too. Oh, those are nuts. Yeah. Those are all for crimes that
just don't exist. No, you're not accused of anything. What'd you do? He did not receive a pardon. His prison sentence was commuted by President Donald Trump, which let him out of prison early, but left his convictions in place. Interesting. In October 25, October
of 2025, rather, Trump signed a commutation with a former representative, George Santos, ordering his immediate release from federal prison, where he was serving a roughly seven year sentence for fraud and identity theft. Commutation sortings are a limited punishment, but that does not erase the conviction or declare the person innocent, unlike a full pardon. Trump said Santos had been horribly mistreated and it spent long periods in solitary confinement, which Trump framed as too harsh for a rogue politician compared with others. Commentators widely interpret the move as fitting Trump's pattern of granting clemency to political allies and loyalists, rather than based on traditional justice system criteria. I mean, look, it's a weird thing that you could do. The fact that you're the president and you
could just say, what did you do? You robbed a bank? You're sorry. Get free. Meanwhile, if you don't know the president, you're in the bank forever. Like that is a crazy loophole
that still exists that makes no logical sense whatsoever. Yeah, you just help people around you or your kids, whatever it is, or a friend of a friend. Yeah, somebody, somebody who shop and you know them and their cousin needs a thing and there's a guy and maybe didn't, maybe didn't, you can get him out. I mean, I'd pardon a lot of people. I don't know a fuck old people. Yeah, I get it. Well, we've on the show, we've done a lot of work with
my friend Josh Dubin, who used to work with the innocent project. And now he works with the Iq Pro-Meter Center for legal justice and criminal justice. So it's all people that are wrongly convicted. And there's a shit, a ton of them. And you find out that there's these rogue politicians or rather prosecutors, these rogue prosecutors and rogue DA's and rogue cops that just have fucking dozens and dozens of bullshit convictions where they fucking hid evidence. They absolutely knew the person that they arrested was the wrong person. They don't
care. They just want a conviction. They just, they don't care. They lose their ability to give a fuck whether or not the person that's in jail is actually guilty of that crime. And they justified in their head while he was a drug dealer or he was a this or he was a that and he fucked off his whole life. We're better off with him being in jail. Let me go to Morton's
and have a stake. You take that and then you compare it with like every violent crime that has happened in Austin this year are people that have been repeat. Just let loose. Oh yeah. Okay. So locking up people that don't deserve it. And then a guy, a guy off a 360 here in
Austin killed his family and he was let out a couple times before. Yeah. Yeah. I'm not a fan of that. That's a different thing. You know, you so you got both things, right? You
have these very liberal DA's who are letting people go if they think that they're, you know, from a protected class or if they think they've experienced racism or they've experienced some sort of an unjust situation as a youth and they need a second chance and the system is racist and so they let him loose. But you've got people that, you know, like the guy that pushed someone in front of the train in New York City had been arrested over a dozen times like the fuck are you doing? And there's some kind of crazy to statistic, particularly about New York City, that something like 50% of all the crimes are by a very small number of people. Very small number of repeat people. And if those people are in jail, literally crime, you could have violent crime, half robberies, half 50%. Yeah. It's crazy. I saw some people
doing analysis of like the kind of content in news we were getting in 2015 by people that I watched and liked, like the vlog brothers and stuff on YouTube, where everything was about the prison industrial complex, which I'm not saying is not a thing. It's definitely issues for sure. But it was about how, you know, we have the highest prison population and stuff. And again, these aren't untrue things, but it started putting out all this unchallenged information about how we are too critical in this country and too punishing. And then what you started to see after that was the politicians like the DA here, the DA in San Francisco coming around the 2020 stuff after the George Floyd situation and everything, where all of a sudden it was beyond soft on crime, like beyond where they could do any amount of property damage that they wanted in San Francisco and just no challenges. So the DA in
Chicago that raised, I think, the theft for felony threshold from like $50 to $500 or something. There was something crazy. So all that information was not $100. Crazy. All the information that we were all consuming was just unchallenged. All you had was like
a boomer on Fox News, just yelling. That was like the only challenge to that kind of information that was coming around 2015. And I was a fan of that information. I ate it alive. And then now we're facing the consequences of it. Yeah. Kind of crazy. Well, it's also you find out
that there's, there's sort of a dark element to it all. And there's people like George Soros in the Open Society Foundation and what they do is they invest their money in politicians. They invest their money in DA's and they get like the most liberal, the most, you know, progressive, one who's going to do the most damage to the city in terms of crime. And then he funds the next guy to compete against him who's further left and they go further and further and further until you've got people like the guy they got rid of in Los Angeles that, you know, was just violent crimes. This guy pulled a knife on a sheriff who was trying to attack a sheriff with a knife and then they let him out. And then he hacked up some guy with his kids with
a fucking machete in Malibu or in Santa Monica, wherever it was. It's like you hear these stories and you're like, this is fucking insane. When someone's a violent criminal and they commit violent crimes, they need to go to jail. And if you don't do that, you're going to encourage people to do violent crimes. So why are these prosecutors doing this? Why are these DA's
doing this? Are they doing it? Because they want to? Do they want society to fail? Well, some of them do. Some of them actually do. They would like our civilization to fall. They think
America is evil. Interesting. That's interesting. Elon's deep into it, man. I've had conversations with him about it and he explains the way Soros does it. And that's actually, it's a great
investment because like to invest in politicians in terms of like to spend money on a campaign for the president. It's a lot of money. Spend money on a campaign for becoming the governor. That's a lot of money. But a local DA, not that much money. And for a great return on your
investment, you can fucking tank a city by having one insane DA. Like who's the guy in LA that got rid of? Was it Garza? Who's the guy who was fucking out there? I mean, he was releasing all kinds of crazy criminals. And like, why would you do that? And there was
a podcast that I was listening to where there was a former gang leader who was leaving Los Angeles because he was saying it's getting too dangerous. And they're about to release thousands of people from prison because the prisons are overcrowded. So they're releasing thousands of violent offenders and he was sounding the alarm for it. For a gang leader. He's like, this is too hot. We got to get out of here. That's that's the primary reason I'm against
the things like all the funding for the train in California specifically because I actually really like I'm a big advocate for public infrastructure and even like dense living like I love when you visit a place that is like dense and really cool lots of community. I love that. We can't do that because we have these people that just let the violent criminals out. They let people hop fairs in San Francisco and smoke meth on the train. I want trains. I want to I wish Austin
had an incredible subway system. We can't if we keep letting out these horrible people that'll be everywhere. These people with mental health issues that we won't put in a place that is more humane than letting them sleep on the street. We'll let them crash at the anytime I mean my girl we drive past a bus stop and we're just like we would never ride a bus here. Right. Because just every I've seen people light up a meth pipe on South
Lamar at a bus stop and there's just people that are just sleeping there and you can't even wait for a bus. I want these nice things. We can have these nice things but we can't if we just let people overrun them. So what do you think if you had to put on your tin foil hat and really try to make an assessment of like why this is happening. Like why are they allowing this? Why isn't no one done? What is the sensible thing? Protect the peaceful
tax paying kind and compassionate people of the city from violent criminals. Why are you allowing these people to continually be released? Why are you so soft on crime? Like what are you doing? Yeah. Well honestly definitely not as deep as
Moskis on this but for me I really think it's this political capture. When you get in those ecosystems now online you can get on TikTok and it'll immediately figure out within three minutes what group to put you in and then you hear no other perspective. Right. And we know young generations especially young women they've moved more politically extreme than any other generation in the history of the United States. And they moved to left right I don't care but they've moved to the extreme version and when you're politically captured you then vote for the people that are more politically captured on that left and there is a lot of that moral masturbation that comes with it. It sounds good. We had all the
information around 2015, 2020 that anyone that's going to prison is you know just for having weed or anything like that we're just evil as a society. Right. And when you get that and you start more masturbating about everything it sounds right. Like things like rent control it sounds good. Right. It sounds like the moral thing to do not letting many not
just putting people in prison for a long time sounds nice sounds nice not kicking people off the street when they're homeless it sounds nice not doing those sweeps it sounds nice. Yeah. And people that are politically captured online especially in our algorithms it's just so brutal and they just vote for that on repeat because they hear no alternative perspective. And even still it's so politically captured now where it's like if you disagree with 1% you're a Nazi and you're you know get out of here you're not one of us. Right. It's pretty brutal. I
always considered myself like pretty left of center actually. I'm probably more centrist now economically I've moved a little to the right over the past few years but compared to the people surrounding me in college that were definitely like far left. You know music is going on with stuff but they were still algorithmically captured. I was borderline like a Nazi because I just didn't agree with everything. Yeah. You know maybe the taxes shouldn't have fun
tits. Right. I'm sorry if I'm a Nazi for that. Like we have too much bloat. I think you're absolutely correct about the political capture but I think it's also manipulated and that still doesn't account for who's funding the DA campaigns and the fact that Soros does get involved in these kind of things and not just him but others as well. I think you truly believe
that though like this is the right thing like we have a prison issue. No I don't think so. I think he banks on it. I think I mean he's made money off of collapsing societies. He's like he's of interesting character. He seems like completely immune to the consequences
like spiritually of what he does. Fair enough. It's a flaw in my guess. I just assume the worst until I see the best. So I just I saw a flaw. That's a you're good person. Well it's
talked me over a lot of times but like I mean I just assume that even if I disagree with them politically they think it actually has a positive outcome. Yeah I want to think that. I used to. I think now more they want to pretend that they think it's going to have a positive outcome because it justifies what they're doing and then it also I think with politicians it's really a self-serving thing. They just know that people are politically captured so they say the things that the politician like listen Gavin Newsom and any other world could easily be a Republican. Okay if we're living in the 1990s he might have been. Like this is
nonsense. Like this is like his perspective on things is about personal gain. It's about his campaign and his image and that's why when he addresses any of the issues with California he always goes into this pre-planned speech about we're the biggest tech sector. We're never for the world of the world economy starts moving his hands around. He's got a little fuck of voodoo dance he does because it's not really about addressing the situation. It's about framing
it in a very positive way so that he looks good so that he moves forward. That's what he wants to do. You're starting to see him come closer to center. Now being opposed to the billionaire tax and other things I'll be out of the company. Well they're fucking leaving.
They're leaving but a lot of the you know everyone running for governor on the left was okay with the billionaire tax but since he's going to be eyeing for president he needs to be a little more sane and I mean pretty much every independent report says yes it'll capture tens of billions quickly but it'll lose hundreds of billions over the long term because the wealth that you tax on a yearly basis is just leaving. It's not just that it's a slippery slope. It might start with billionaires. It'll work its way down. It'll work its way down to thousand errors. Yeah taxes typically have. They always do. And also they have the ability to change
the goalposts once the bill gets passed. The bill gets passed. They don't have to have you vote on who gets taxed more. And we can just decide like Bernie Sanders used to rally against these two rail against billionaires. It always used to be millionaires. All these millionaires
are the problem. They're not paying it and now it's billionaires. Why? Because Bernie's a millionaire now. It's adorable. It's adorable in its transparency. But like these fucking
kids don't understand. Like there's a giant number of kids today that come out of the university system that think that communism is the solution. Oh yeah. Genuinely believe in it. Yeah it's very scary. Because you're literally saying first of all how does that get enforced? How do you
think it's enforced? Who tells the people that they have to give up their money and their property? The fucking government. Then who's holding the military and the property? The government.
Oh so the people with the guns. Oh so you want a military dictatorship essentially to be able to control all the finances. Who owns a home? Who owns a farm? Where the food comes from? You think that's a good idea? It's not for work. I don't know why they're
for it. There's not even a mildly decent version of it out there. They can go well. They're not as good as us but it's not too bad. I'll give them some credit. I'll give them a little
bit of grace. Sure. I think they're a little retarded but I'll give them some grace. A lot of times when you ask them those people that come out of college what communism is, they think it's like Scandinavia. Okay. And socialism. That's how they define it. Not
like very literal. And those aren't socialist countries anyway. All their programs are funded on capitalism. That's taxed through the income that's earned on capitalism. So I'll give them that grace. But no, it is true that many people are viewing communism in general as
more favorable. Yeah. And we know college is also very politically captured. It's very politically captured. That's the danger. The dangerous children are getting a very distorted
perception of what the reality of the world is. Like right out of school by people who don't live in the world. That's what's so fucked. Like these people that are teaching, they've essentially gone from being a student to working in a university to being a professor. That's their entire life. And they're telling you about the outside world. They're literally
prisoners who are telling you about things that are going on in places where they never go and never visit. Like you are not living in the real world. Like your concepts about social ism and communism that you're teaching these kids. Like you don't live in the real world. You didn't start a business. You don't get fired by one company and hired by another.
And you try to build your own small business. You're not dealing that. You're just teaching concepts and ideas which most people that have done those things that have jobs that have started business think are fucking ridiculous and don't work and have never worked anywhere in human history. And yet that's how you're employed to shape young minds. That's crazy.
They've looked at some universities and they look at the political identification or doing pollings on different departments. And they've had like sociology departments where it's like 300 Democrats and one registered Republican. But again, I don't think there's anything wrong with having a left-wing position or viewpoint. I'm not saying that at all. Again, I agree with a lot on the left. But when something where you're spending four years has that ratio,
it's going to get overwhelming in terms of the information you get without any alternative perspective. I was in college again in music school. And this was the amount of craziness that I was around. Even though I'm like, you know, have those left-wing social positions, I'm beatingly against that wok shit because when I was there, we had a visiting professor talking about music. She played a piece of music and she was like, okay, give me feedback.
I just want honest feedback on this. I didn't really like it. I was like, you know, it's to me. I can't really describe it, but it's a little weird. Then I had to listen to a 10-minute lecture about how the word weird has been used for colonialism and slavery and imprisoning people and murdering people of color and people who have transitioned and stuff.
Because I said the word weird. It's politically captured. And there wasn't no one would speak up against that. No one would speak up against that. I don't know if there were other normal people around me, other professors that didn't believe what she was saying, but no one was willing to because you'd be ostracized. You wouldn't have friends there. Exactly.
So when the ratio is something like 501 in certain departments, you're never going to get an alternative viewpoint. So it makes sense that it gets more extreme. It doesn't even have to be 50-50. But 501 is crazy. 201 is crazy. Even 50 to 1. Yeah, for sure. Well, it's something.
You need to have alternative perspectives from respected people. They need to be able to communicate with each other. That's what the real diversity is all about. It's not just like where your fucking ancestors came from. It's also diversity of thought. And which is crazy that the people
that are really into diversity reject completely diversity of thought. This idea that no one who is more to the right of you could possibly have a point is insane. Now I'm with you socially. I'm very liberal. Financially, I agree with you. I'm more, I tend to swing more to the
right because I believe in human nature. My problem with the concept of socialism, it goes against human nature. People, if you're going to punish people who are ambitious and reward people who are not, that's not good. That's just not good for human nature. It rewards laziness.
It rewards people that feel entitled. It rewards this idea that the government, that they should pay, that these rich people should pay because they've done well. Well, why aren't you doing well is a question that doesn't get asked to these people? Well, the question of taxes is getting completely turned on and said, anyway, I've never been opposed to paying more in taxes if it went to something good. Right. But people are no longer proposing it
to go to good things. When you see an advocate online, now it's that person has a lot of money. Let's take some. Yes, exactly. And it's also very abstract. Like they should pay their
first year. Shouldn't we figure out where the fucking money's going first? When you have thousands and thousands of NGOs, you have all these billions moving around in very mysterious ways. You're not concerned with that. But instead, you want to take money from this guy who's got this giant penthouse like that Ken Griffin thing where a mom Donnie's standing in front of like, yes, crazy guy has a 250 million dollar you're doxing his fucking house crazy, which is stupid because I was going to take all that wealth from New York and go down to Miami. I know, but it's a weird thing where some of these, you know, Democrat socialist
mayors, they don't seem to think that that's a problem with that lady in Seattle is like, well, if they leave, goodbye. Okay, I actually like when down he was a person, I really just like the lady in Seattle as a person. She seems like a bad person, just laughing at people leaving, laughing at wealth, leaving laughing at jobs, leaving, they're not even leaving Washington, they're going to Bellevue. They're going across the river where Microsoft and everyone's building new campuses. They're leaving Seattle and she's laughing at it. They have the second highest
downtown office vacancy in the country and she's laughing at it. That's not a good person. Well, she's also never had a job, which is crazy. Imagine your first job, you're the head of a fucking city. Yeah. Yeah. Well, then you end up with that. And now people are leaving.
And the money thing is also interesting because one of the things you said recently is that they if they have bad landlords, they might take the house. Have you seen that? Yeah, which is like, okay, communism, you're gonna capture real estate. You know, the farm is spending too much money for a tomato. We're gonna take over the farm. Like, this is North Korea.
This is how it started. Give us your farm. We'll feed everybody. Oh, great. Yeah, I'd love to say that. I survived the courts, but it's a crazy idea that we're even there. And
of course, those bad landlords that we're talking about, they're usually like rent-controlled units where they can't bring in enough money to even maintain the units. So then the units fall, I mean, the percentage of units, you can look up the exact number, but that are just sitting empty because there's not enough money to put into them just to bring them up to date is crazy. This is the most populated city in the country. People need places to live and we have a system right now where people can't even bring units to rent up to date for people to live in. So there's like 10% of rent-controlled units or something that are not rent-controlled, but it's brutal. It's an absolute
brutal system. It's performative. There's also this weird thing that goes on in New York City with really expensive apartments where people buy them and never live in them because it's just a place to put your money. Which we do too. We do that overseas in Europe. American billionaires all over the world
do that because real estate is just a good protective asset. It's a good way to preserve. But no, it makes sense. Places like Texas have banned people from China doing that. But it makes sense from a wealth preservation standpoint, but it's shitty for the residents of the city. So I think it would be fair
for them to out-wow that. Kevin O'Leary is counter perspective though. Have you heard this? No. So on that, and I don't know if I agree with it, but it's worth considering, is that okay, but they're there. They buy it. They don't go there so they're not using any
public services, but they pay the property taxes and the public services. So they're just a net contributor. Well that does make sense. Yeah, but it is also a place that someone could live that no one is living. Right, but when you're talking about these $100 million apartments, like the Ken Griffin spot, like guess what? You're never going to live there. Yeah, and they wouldn't
have built it if they couldn't sell it to people like him anyway. Exactly. It's the whole reason why they invested in the property in the first place. There's that one that I was looking at. They built this kooky fucking tower that's like a popsicle stick if you're seeing that one and it's waving in the wind now. It makes weird noises and no one wants to live in it. I think some glass falls from it too,
right? I think so. The one right off Central Park? Glass falls? I don't know. That's happened if you
think. I don't know. I watched a video on it. The video was essentially talking about like the engineering that was involved in making sure this thing anchors to the ground. And you would think you have to worry about this big thing that's really, and you would worry about sinking, right? Well,
actually, they worry about it lifting because the wind is slowly rocking it back and forth, so it's fucking coming out of the ground. And then the people just buy there and not even live there. Well, preservation. Well, I don't think I think they're having a hard time selling spots because I think people were probably I would look at that. I go, I'm not gonna sell this. Like, so if you do buy into
it, you might be stuck with it. No, absolutely. I'm again down to pay more in taxes. Well, like you said, there is the fear of like, where's the money going? What scares me? I want to have Mr. Marco Rubio. If
he ever sees this one once for president on my show, the Pentagon hasn't passed on audit in years. Even that alone. They're working on it for years for going up to the decade. They've never passed a budget. Never passed it on. It's crazy. Like that alone. I mean that alone. And I know military still,
it's what is it? 10 to 20% of the federal budget. So it's a smaller percentage. But the fastest growing category of the federal budget is interest payments on our debt. That's the fastest growing category in the federal budget. If that's the case, why are we allowing the Pentagon to not pass an audit? We're
going to raise the fence spending to a trillion dollars a year, but it can't pass an audit. I want good defense. I want broad defense. I want a lot of benefits for our soldiers. It has to pass an audit.
Yeah. Well, this is the thing. I mean, exactly what we're talking about, like we're in favor of paying taxes. It'd be great if everything was nice. The schools were great. The streets were clean. But
when you know that there's so much waste and there's so much fraud. And then all they're saying is we need to make people pay their share to pay it to where? Where's it going? Who's benefiting from it? You know, when you see the like the $24 billion that was spent on the homeless in California, it's like, you don't have any knowledge of where that money went. You can't audit it. This is
bananas. That's so much fucking money. And not only is it not been effective, it's been the opposite of effective. The homelessness increased during that time. So you spend all that money and more people are homeless now than when you started. It's performative. It sounds good. It sounds good.
It's all performative. It's all about hate about topics. It's jobs. There's so many people that have jobs in nonprofits and they make an extraordinary amount of money. Well, that's why they should look to Houston and set a nonprofit. It's one central city run organization and they've actually decreased
homelessness with like a 10% of the budget per homeless person in LA. But LA has all the network for every little corner of the homeless services. It's a network of different nonprofits and organizations. So it doesn't work. The city program, one central city program did it in Houston and it's actually been working. How do they do it? What are they doing differently? Well, instead of these different
organizations that all have these different incentives that maintain the jobs, like you said, and not even report certain data, this is a city organization actually held responsible by the people, by the voters, by the city council. It's just one place where the money goes. It's not these endless nonprofit jobs. The incentives are just misaligned across the board. Yeah. It's interesting that there are examples of cities that have done it well.
And Austin had a real problem in 2020 and they did a great job in cleaning it up a little bit, but small city, relatively. So pretty rough downtown though. It gets rough. Listen, man, I have a club on 6th Street. I know I go there all the time and I almost get shanked. It's scary.
It's why I think though that once you get in, it's kind of exciting. Like, whoa, we made it. That's the show. I was, you know, I put my parents on a hotel, went to the rooftop patio and it overlooked the alley right behind 6th Street. I don't know if it was the other side of the road or not, but the alleys are scary. Oh, yeah. It's brutal. It looks something out of like a Batman movie from
the 90s or 80s. I can't believe it's actually allowed. And it's not, and they say it's sympathetic. They say it's sympathetic and nice to it. I don't know how that's considered any more nice than any kind of force rehabilitation seems brutal, but the mental health places. I know they weren't great before
Reagan tank that. I know that a fucking alley. Exactly. It's better than an alley. Yeah. It's better than an
alley. And there's another weird thing about 6th Street is that 6th Street is like this booming like bars and music and comedy. It's crazy and it's loud. Everybody's drinking. One block over is a homeless shelter. Yeah. So you got all these people that are drug addicts and trying to stay clean,
drinker. Like that's the other thing. You can't do drugs and stay there. So people just surround it. They surround the outside area and they have their tents laid out there. Not anymore. They kind
of pull the tents up, but you see those people there all the time. But imagine you're trying to stay clean and you're a block away from madness. It's crazy. It's a dumbest place to put them. Put them in the fucking country. Like see squirrels and here burns chirp. Why are you putting them right there? That's
where I park when I go to a show. When I go to a show at the mothership, I park right next to the arc. It's scary. It's apocalyptic. It really is. Even the police station just right down the street.
They surround that as well. And we just a lot. It's a police station. I'm doing drugs. It's kind of crazy. It's nuts. Well, they're trying to do some things with 6th Street. And one of the things they're
doing, they're investing a lot of money and trying to open up high end places and restaurants and businesses. But you know, it's going to be a slow slog. Try to clean it up. I mean, I'm sympathetic. They actually, the people do need help. But when homelessness is like at minimum, 25%, this is reported
from polling done via homeless people. So can't 100% trust it. But 25% mental health issues. Like what are you going to do? You're just going to let them forever be wherever they want and do whatever they want, endanger themselves and others. There's a dude constantly wielding a machete down
there that's always just twirling at it. When I had friends visiting other big podcasters, I took them down downtown. The first thing I saw in the store was a guy spinning a machete. Like we're just allowing that. That's the sympathetic thing to do. It doesn't make any sense to me. 25% forever.
It's not them. That's a very low number. Yes, I think so. But being very kind by saying 25%, I would say it's probably 80. Listen, if you just by definition, if you're a drug addict, you have a mental health problem. Just by definition, you're an addiction. That's a mental health issue. It was a
physical aspect to it, but there's clearly a mental aspect to it. It sucks. It sucks that there's so many competing philosophies on how to make a society run correctly and a lot of them just completely ignore reality. And we deal with the consequences of it. And then you have people saying, Oh, the billionaires aren't paying their fair share. That's what's wrong. That's not what's wrong. What's wrong
is you have a completely captured government. And there's also this weird aspect to it where there's people that are working for nonprofits to make things better that don't make anything better. They don't do a good job at all because they're not beholden to all the pressures that you would have if you were an independent business. If you're an actual private business, that was assigned a task of cleaning up a homeless issue. You wouldn't make any money if you didn't do a good job. You would
lose your business. And if you had, if homelessness, cleaning up the homelessness was an actual business and you started a private business to clean up the homeless and you got all this money, nobody would invest in your company. Your company would fall apart. It wouldn't work. But because it's a nonprofit, you could have a $700,000 year salary and do a fucking terrible job and have no fear whatsoever being unemployed. Yeah, exactly. And another difference between Houston and LA that I forgot
to mention earlier, I mean, a part of it is the cost of labor, cost of housing, but a shelter, or a room to put a homeless person that is starting to get clean in Houston costs a few hundred thousand hours. It costs a million or more in California. That's just you can't compete against that. It's impossible. Now, oftentimes, that's California's own fault. Their laws and permitting issues and red tape
and environmental codes are crazy for building. And the labor unions that they use for their building contracts are very, they like to extort. So there's a lot of issues there. Houston's able to build it on the cheap, which means more people are able to get in housing. But California is very set on the housing first, which again is the moral thing, it sounds moral. And it really
started to take off a couple decades ago where, okay, let's get someone into housing first, and then try to get them cleaned because no one's going to get cleaned then housing. But Houston's been trying to, in Texas, it's been trying to do the opposite and it's been working where we try to get people clean first and then aren't getting into that housing and get their lives set up because people have been going into these places in LA that are multi-million dollars in trash in it. And they get like lower in stories off of them. Like a dude that was like building like chairs or something and then burned down his apartment and he was named like chair guy. Like everyone knew him. It's just crazy that we
allow that. People that are not getting the help and support they need because it's housing first because it sounds good. But it hasn't been working. And I don't know why, I don't know, it's a political capture again. I don't know why we're willing to do something for five, 10, 15 years. See it doesn't work and then just say we have to keep doing it and put more money towards
it. Well, I think again, what you're saying earlier about social media and these echo chambers is really important because in their world, this is the only thing to do and that's that all just gets this feedback loop where it's the right thing to do, the only thing to do. And they come up with reasons why it's not working and then call everybody Nazis. Yeah. And that's why also those echo chambers are why when polled younger people are more okay with violence against people on the other side of the political aisle from them, which is a very scary place to go. It's very scary,
especially when I see death threats all the time in my inbox and you know, doxing and shit like that. They call me a fascist for saying don't spend more money than you make. Okay, so I'm a fascist. Now, I'm afraid from my life and I have to get security and all this stuff. It's crazy. So you get threats
for like what specifically do they get upset at? It's literally just saying don't spend your money. It's everything. They don't like that. I do rose consensual, consensual rose. Like I call a fat
bitch a fat bitch. But I had the conversation with her before and if she didn't want me to, I wouldn't have done that because we have a no no list where people get to say what they don't want us to talk about. And then I just won't talk about that. But it's very nice of you. It is very nice because we try to run you know a moral consensual show, all that good stuff. But I love to
roast people and just call out their features and just dumb shit like that. So people get offended by that offended on behalf of someone who's not offended in the first place and then they get very angry. I got a death threat on Twitter yesterday for saying Americans spent too much money on cars. He said I should that it's a crazy that Caleb Hammer is still breathing air and that he should come up from San Antonio and kill me or something. I remember something like that. It's kind of
crazy because Americans spend too much money on cars. Maybe sells cars. Maybe but objectively we do. Do you check his profile? Is it a real person? It said San Antonio. That's all I know. That's all I
know. I'm sure it was like a could be a second profile. He was he was responding to it. He was excited. You know he got a crazy person. Yeah. And we get emails all the time. No people think
of people because they say I don't talk about the issues that led us here in the first place. But it's a personal responsibility show because more people have agency than they're willing to acknowledge. We're in the highest disposable income society in the history of human existence. Not everything's perfect. Cost of housing's gone up. Cost of schools gone up. Cost of healthcare's gone up. We
can acknowledge those realities. But people have agency. People have agency. The amount of going out to eat among the generation Z is insane compared to any other generation. And not only that but now for 25% of they're going out to eat multiple times a week is getting food delivered and that has a 90% markup. 90% and then they're complaining that they can't afford to pretty much do anything get
a nice apartment or one out but for spending like a thousand dollars a month which is very normal for a person on my show going out to eat. You're right. You can't get a apartment of your dreams when a thousand dollars a month is going to McDonald's and other places. Cooking at homes become like a burden. Become a victim complex now. Well actually that was another thing that triggered the internet.
I kind of agreed with Kevin O'Leary when I said oh young people are broke because they spent 28 dollars going out to eat. Well it's not that specifically only but it's the death of a small of a thousand cuts. And yes just 28 dollars three times a week becomes an actual half-decent retirement fund if you put it in the S&P 500 for a few times a week. That does put off future goals that you have. And the internet went crazy against me. They hated me for suggesting that.
That they shouldn't be able to. They're like well how do we eat groceries, meal prep, meal plan. This is what everyone's done since forever. We live in the best period ever for humans. Best period ever. Our jobs are better. Everything's better. Even when you think of like buying the
starter home in the 50s and whatever you know they were like the size of this room that we're in right now mass produce. Okay that's still a home that's where you could buy but you were going to a job that you hated that you're sweating that had no AC where you're working with your hands all day and it was miserable. They didn't like the jobs they liked that they had a good paying job. But now people go to the office and they think they're a victim for not being able to meal prep before going to the office. The AC office. Like it's hard for me to sympathize with that especially when I
film three of them a week. All 100% real people mostly genzine millennials who are absolute victims in everything. They are victims in everything. They think if they don't get a 2027 brand new car instead of a 2025 car that they're going to die. That all the time cars two years ago were the most dangerous things. They have to get a 60 to 70 thousand hour car loan at a 20% interest rate or else their
kids will die. You've actually had their conversation. Every time. Do they think that they're going to die? No, because the excuses they use is that I wanted to save car for my kids. That's fine.
But as the insinuation that 2024, 2023, 2022 cars would literally go on the highway and blow up. I don't understand. They insist that they don't get a brand new car that is not a safe car. That is an argument every time with Americans. The $1.6 trillion, $1.5 trillion in car loan debt. So do you think
that's just a lack of education? Because a car from 2020 is just as safe as a car for 2026. There's no difference. Absolutely. There's no difference in airbags, no difference in anti-lock breaks. There's
very few differences in any of the technology involved. In fact, I tell people, especially people that want a nice car, one of the best investments you can get is get an electric car that's about two years old. Electric Portia's and electric Audi's in particular. Nobody wants a man. Nobody wants to use ones. They're still great. Let's look up an Audi e-tron. Look up a 2023 Audi e-tron. How much
does it cost now to buy and what was it new? I think it's less than 50%. There's certain cars where you buy them and they're worth as much a couple years later, like a nice BMW or a Porsche. Like you could get an M5, a BMW M5, and then sell it a year or two later and lose very little money, if any. You get a fucking electric car and you try to sell that bitch in a couple years like an electric Porsche? Okay, look at this. 2022 Audi e-tron, $25,000. 2023 Audi e-tron, $27,000. Do you know how
fucking crazy that is? That is a 2023 amazing car. Those cars are fucking incredible. It's a technological tour de force. They're fast as shit. It's all-wheel drive. It's an SUV, a premium plus
Quattro, $27,000. It only has 37,000 miles on it. Those things don't have engines, like a combustion engine. They don't have nearly the economy that's the regular car does. You don't have to change the oil. Just plug that bitch in. You have a fucking amazing car. They're the battery range is not
belong. That's the excuse they use. There it is. 226 miles is plenty for you to get to work and get home. Thank you. And go out there and you can plug that bitch in. I have a Tesla and it has like,
it's a model S. What is the model SF? I can understand this though, this argument that this person might not have anywhere than to charge it unless it's after work. That's so easy to get in your house now. Yeah, and if you go to one of those charging stations, you're very vulnerable. If I was a chick, I'd never get an electric car. If I didn't have a house,
it's every single day. Every day. Every day. Every day. Every day. That's true. And like,
how long does it take to charge up one of those bitches? 30 to 45 minutes. So you have 30, 40 minutes every day. That's fair enough. That's fair. Getting a fucking bitch in car for 27 grand.
And more apartment complexes are installing those charging stations anyway that you can just leave your car overnight. I live in one and you can never actually get to the thing. Oh, why is it so much easier? Someone's always in there. So we're in there.
So we're in there. We're in there. We're in the fucking car. Oh, they keep it plugged in. I don't know who it is. You can go call them and yeah. Flat their tires. Don't do that.
But I try to think of options. Right? Because there's even the options of the place you work, might have one. Right outside my building, there's where we film is multiple car charging places. Park in, you go to work. So I'm not saying everyone can do it, but if you can do it, it's a great option.
But even so you can use gas cars for relatively similar, but they will defend to the death on my show, having to get a $60,000 large SUV at an insane interest rate for an eight-year loan, eight-year term crazy. But you ask me why they're doing it. It's American, baby. That's American. That's freedom. You need a car to get to your job and you need a job to get to your car.
And our culture is built around the housing car. Your failure, if you don't get a house, your failure, if you don't get a car. It is American as it gets. That is true. And it is true that people want a new one. They want a new one. That's part of the status of owning a vehicle you
want to build. So it's 2026. Look at these new features. It's fun. Apple CarPlay.
And people actually care what the person next to them thinks of the stoplight for some reason. I don't know why. That's a weird one. That's a weird one. But we do. And we especially do
what we're not doing that well. So you want every single sign that shows that you're doing well. A nice watch, a nice this, a nice that, a bag, whatever it is that you need a reward for this job that sucks. Yeah. Oftentimes, the poorest people I know are the ones that have more souped up nicer cars. And then they have a shitty place to live. But they prioritize that because it's a wealth
symbol. It looks good. They get the expensive clothes, the flashy items. That is true. But if you have money, a car is one of the few things that you put money into that you actually enjoy.
You actually feel it when you drive it around it every day. It's exciting. It's fun. I just got my Model X. It goes fast. It's not happy. Those are great. They stop making them. I know it's really sad. They
stop making the S2. I was actually sad that day. Me too. That was a weird thing to get sad about. But I was actually sad that day. Also, I was sad because I knew it was the rise of the robots.
Because they're using it to make these fucking Optimus Prime robots. And they're going to be flooding the streets everywhere. Yeah. I honestly think the Model X is one of the best cars ever made. I love that thing. It dances. Tiffany Hadsch has one. And she was in the parking lot of the
comic store. And the wings go up. And you know, it starts dancing. It moves around. I'm like, this is crazy. Like it actually moves to music. Now that I have one of the last ones ever made that I
honestly block man. I really don't know. I don't want another car. It's actually really sad. Well, he told me that he won't tell me that it's super over-engineered. He's like,
the car is incredible. It's like one of the safest cars you can ever drive. Well, I guess it's the last one I'll ever get. The bomber. So when you are explaining to these people that a car that's just a few years old is just as good as a car that's now. Does anybody go
ahead? You're right. Or does it like a natural inclination? Like is this just this thing that they want, a status symbol that's in their head that they need at 2026? The New York Times was at the best musical I've ever seen. And now Operation Mids Me Just Heading Away. Crazy by Lin-Man Miranda.
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corporate drama over whose tablet is louder, whose charger is faster and why watching the same cartoon for the hundredth time as a human right? Yep. We totally have vehicles to handle that. Because whether it's a road trip or a business trip, where your flight's delayed, your phone's at 2% and your dinner is whether it's open. Yeah. Here for that too.
Enterprise. We're here for it. People are very defensive on the show. I can convince them of smaller things. Getting rid of a car and our culture is usually a big thing to overcome. But I'll see weeks later that they sat on it,
they thought about it. Then the video went uploaded and millions of people shit all over them in the comments and they're like, okay, you know, maybe I should get rid of this car. So some people actually, many people do change their perspective on cars. But that's a hard one to overcome. Telling them to close a credit card, it's kind of easy. Cars is a big one. I told people to not get a house and they're
really closely getting a house. That's something they will not give up. Because that's another obsession that we have in our country. So would you say not get a house today because of interest rates? It's just interest rates. The overall marketplace S&P 500, it just beats real estate. Commercial real
estate is good to get for tax advantages. But the American dream isn't owning a home anymore. It's the freedom of renting because you can live wherever you want. You can move for a job like that. Getting a house you're stuck in a house requires a massive amount of money for a down payment. And
it's just a lack of flexibility in a generation in age where people want to be more flexible and travel and explore and take new jobs everywhere. But it also just doesn't make sense as an investment anymore. It doesn't. It used to be the defining trade in the middle class and one of the largest wealth, creating things for the middle class. But now with the incredible stock market that we've had over the past 50 years or so, it beats it every time. If you rent and just put in your money
into the stock market instead of that down payment on a house with a little extra firm mortgage, you'll win every time. And then you get stuck. Let's say you've got the good interest rate. Everyone with the good interest rate is stuck right now because they're not willing to trade up for a house they actually want but with a higher interest rate. So homes become like these people's prisons. You can buy a home. That's great. If you know you're going to stay somewhere and it's
what you've ever always wanted. There's nothing wrong with doing it. But it is not that actually incredible financial thing that has defined America. That being said, American stock investing. So the only way for you to invest is put your house in a put your money in a house that you literally cannot touch. Maybe it makes sense. Because if instead you need to put an extra
20% of the market, if you rent, but Americans just want to go spend that on vacation, then maybe you're better off in a house because you need that forced investing. Yeah. Well, a lot of people don't feel they don't feel secure unless they own home. They don't feel like settled. This is not really my place. I'm just renting it. Yeah, which is true. But I mean, I just tell them to fuck off
that's your feelings. I mean, that is just their feelings. Like, I don't know, math is math in the end. Like I own, but that's because it was very affordable for me and made sense for me. But it doesn't have to for everyone. And that's okay. And renting you don't have to do maintenance. You don't
have to get a new roof. You don't have to do with the AC going out and all this stuff. If you're renting for especially even like larger corporations are actually even better to rent for their mom and pa because they'll have someone on standby that'll fix your shit overnight or a mom and pa landlord kind of sucks. It might take a couple weeks. Right. If they're not good. What do you think when you're
talking to these young people that are talking about their future, what do you think about what's happening with AI and the potential for AI to displace jobs and these people that are investing their future and going to school and getting this job that might not even exist. Yeah, totally fair. It's a big fear. So I'm going to start this part by saying I don't 100% want to listen to anyone that says they know what's going to happen because how can there's the doom and gloom that says everyone's jobs going to go away. And then there's those that say it's going to create a shit ton of jobs. I don't
listen to them. No one knows what's on the other side of the hill of AI. But we do know AI is coming. So there is the best things to prepare for it. Trade's very smart. They've been smart for a while,
but they're very smart with AI because it's probably not coming for an electrician job. Probably not. Degrees in general, what degree you get in school has been one of the largest and most consequential decisions that people have been messing up for the past few years. And it's actually one of the leading causes for that gender-wealth divide that is always talked about when compared for the same job, same person, same experience, which is never compared in that study. It's actually a 99% very similar. But what we see oftentimes and I feel I feel bad for the women my age with this
is statistically them, they've gone and got lower pain degrees. And now, degrees that are very susceptible to AI, which is going to be very damaging for a large group of people that are going to push them to become even more radical. But women have gone and brought a lot more money for degrees that provide a lot less return on investment, like sociology, psychology, the arts, things like that, where you can't maybe even get a job, you're going to be a barista, or if you are going to get a job that's usually a lower pain job, where men have gone, we've fallen this thing in our society where men have always tried to go to the higher income side and give up a job they like for it. So they'll go into engineering, the maths, the sciences, even if they don't like it, or the trades very labor intensive. And even though AI, you know, there's susceptible to some things in tech there, it's always been higher pain. And
that's what's made that gender wealth gap so heavy that and then women post birth is the second highest leading cause. But when it comes to AI, people are already making the mistakes in the degrees they've been getting over the last 10 years. And now this is just going to accelerate that even further. When it comes to data entry jobs, things that are super easy, even unfortunately, who knows if we all out for therapists, but it's getting there pretty quick. People are willing to trust AI way more than we thought in these psychology degrees and whatnot, writing degrees, things that unfortunately that large sector has gotten, it's they're much more susceptible to AI. And it's
going to lead to I think it's going to lead to a lot more political radicalization. And that's what scares me more than anything. The, what's at the UN, a reputable source said 40% of global jobs are susceptible to being replaced by AI. Now, the more developed countries were a little better, it's a little easier, but we're talking about those that are doing like customer service jobs in India and things like that, that's, you know, they're going to be damaged heavily. We're going to be a little better in Europe in the United States and Canada and Australia. But it's scary and people
need to prepare themselves by trying to borrow the least amount possible when they get their degree, go to community college if they can, and go into something that's more AI resistant, which to me is again, things like trades, things that need that extra creative edge where AI doesn't seem to be able to get there yet. Maybe it'll be able to at some point right now, they're really going through numbers and stuff, but that true creative edge actually coming up with something new, that's, that's what I think people should be going towards in college right now. Yeah, I completely agree. Hold that talk. I have to leak.
So one question that I have for you is because you've got a degree that's not really a good degree financially. Yeah, well, but close it. But going to school for something that's not viable financially. Why do you think in particularly women, why do you think so many of them get these degrees in sociology, get these degrees in gender studies, get these degrees in things that where you're just not going to be able to make a living in what you're going to school for? Yeah, I think you can do a lot of good in a lot of them. So if you're doing social work like that,
and nursing actually does pretty well, but in that a lower paid part of medical, you know, you're doing a lot of good. We spent a lot of decades doing trying to really fix the percentage of college. We were having like men, men, men, men, all it was only men going to college. And we put a lot of effort into women going to college a bit more to catch up, which is fair. That was good. I'm
for that. But once I got there, just fuck, why they're doing it, it's harder to say, but they definitely do more grab a take as a cohort towards those lower paying degrees like psychology and whatnot. And I don't know men just go to the higher paying degrees. I don't know if it's something in our culture where men feel like they need to be a breadwinner or whatnot. Yeah, that's what I'm wondering, if that's what it is, you need to be a provider and thinking like these low paying jobs are not going to be able to give me any money. How am I going to provide? How am I going to have a family? How am I
going to pay the bills? Yeah, well now men are starting to kind of fall off that platform though. I don't know if you've been watching the trends, but now it's closer to like 60, 65% of new degree holders are women and men are just not going to college anymore. They're some of them. It's pretty crazy. It's like 60 or 65%. Wow. It's getting it's getting pretty intense. And what are men doing instead?
There's a lot of losers. There are a lot of losers where they're not getting any education. They're not looking for any kind of job. They're not even collecting unemployment. They're literally just sitting on their ass. That is a big cohort of people right now. What's the cause of that?
Fuck, there is a lot of the red pill victim mentality. I don't know if I want to fully enable it, but I mean, maybe there's some justification a little bit, but they think that everything's against them. They think that DEI specifically was preventing them from going to work, preventing them from going to school that schools politically captured. There's a survey done that of people that were choosing not to go to college. 30% said that it's because 30 or 40% said it was because college was becoming too politically captured. So there is that then they don't have jobs. They don't have
skills. They don't have experience. So it's harder to get a job. These are just kind of sit-at-mom's home, play video games, do drugs. Jesus, that's bleak. It's bleak. And the gender wars are horrendous right
now. I don't know if you see any of it online, but the gender wars are the gender wars. Oh, yeah, young women just being so anti-men and young men being so anti-women and cheering against each other. It's horrible. It is horrible. It's uniquely new. Like this is much more than ever before.
What do you think is causing that? A lot of it started in 2016 election. They got a lot of women got very angry that Trump was elected and they followed something that happened in South Korea as well, where the women said, no men, no dating, no sex. There was a term for it, but they caught off everything. And there was a little bit of that movement after the 2016 election here in the United States as well. And then it gained as much traction. But it's very divisive. Then it goes back to the
algorithm that we were talking about earlier as well. A lot of people get put in those echo chambers where you need to have a villain and the men are the villain or the women are the villain. The women are the reason men aren't doing well. The men are the reason women aren't doing well. The men have been holding us back forever. They've been keeping us in the kitchen and everything like that.
The 4B movement. Yes. Women boycotting men. Anti-men movement. 4B movement is a radical feminist rebellion that emerged around 2015. It's named after four Korean terms starting with bi, meaning no.
B-hone, no heterosexual marriage. B-cholesin, no childbirth. B-yawnee, no dating men. B-secu, no sex relations with men. Okay. Participants argue this is not about misinjury, but rather a drastic
method to opt out of an intensely patriarchal society and protect themselves from gender-based violence such as digital sex crimes, spy cams, and workplace discrimination. So pick up some pretty big steam here in the United States after 2016. But I gotta think that everyone is saying no dating men and no sexual relationships with men isn't attractive. Probably not. But sexlessness among young people is so high compared to any other generation. Very high. Very high version. Which is really odd. We're
finding a lot of them identify as Christian. And that's the reason why they're saying, or Catholic. Is the reason why they're saying they're virgin? I'm like, what's happening? You don't get horny?
What are you doing? It's interesting. You don't like people? A lot of people on my show say they want to have sex, but can't have sex. So I guess they haven't used that cop, the religious cop, but I don't know. But that's another example of the radicalization. So they just blame each other. Like,
okay, Trump got elected. Many of the women in this country that lead to the left, they didn't like it. So they got very upset. They blamed the men for electing him. Men blame women. You know,
DI policies, which yeah, there are things that complain about it. I do get it. Like on both sides, probably, but they've just gone so extreme. So there's a gender war right now, whereas just trying to nuke the other side. And it is this bill over into real life as much or is this a lot of people that spend way too much time on the internet already? Definitely more that than anything. Definitely
more that. But the unfortunate real life consequences lead to that loneliness online because the real life consequences that people are staying inside and on screens and more lonely than ever. So that's the real life impact. You know, they're not going out and talking about the 4B movement on the corner of the street, but instead of going out like they used to and having more friends, they're sitting inside and complaining about it on Reddit. So that is the real life consequences. It becomes online.
Yeah, it's just so strange that these people don't recognize that you have a finite time to exist. And you're spending all your time like captured these like fucking stupid echo chambers. Feels good to be a victim though, because everyone online that is in your little ecosystem, they give you the thumbs up. They make you feel reassured. It's good. Complaining is exciting. People do love to complain. Yeah, it excites you. It gets you
going fucking fucking man. Whether this is accurate, I think this gives a little insight into the Korean 4B movement. This is a post on Reddit from two years ago, but this paragraph here is. Oh, about Korea? Yeah. So we're talking about a country where a woman's career can be jeopardized
for something as innocuous as wearing a t-shirt that reads girls don't need a prince or for liking a woman's March post on Twitter, even if it was seven years ago. I'm not exaggerating incidents like this have occurred. And recently, as recently as last year, we're talking about literal termination of a contract due to a heart made on a post regarding women's safety issues on Twitter dating back to seven or more years ago due to in cell gamers throwing a fit. So they have an in cell problem in Korea too. A lot of also low replacement rate, like it's in the world. Korea is really bad.
Is it the worst? It's worse than Japan collapsed within a few decades. Yeah. Oh, yeah. South Korea is done. But no, it's true. And like I said, like there are valid
logics too. And I'm not saying like everyone's just doing it inherently to be evil. But if your outcome is to become radicalized into something like the 4B movement, no one should be fired from our address or like in a post, you know, it's crazy. But to become radicalized and start this thing where it divides the genders is we have more political division in our low and in the Gen Z gender than any other generation or religious division. It's crazy and to fuel that because things have been not perfect. So we say political division. So is it that young men are going to
the right and young women are going to the left as it is? Yeah, when you do when they've done tracking and polling of post election results and who how people have voted age groups and gender groups, they've seen that men have moved to the right a little bit. But women dramatically since 2016 have moved to the pretty far left young women, not not millennial or gen X or boomer women, especially. But Gen Z women have moved very far to the left. I wonder what changes if anything in that when women have children because one of the things that I found is that my friends who wound up having children, my female friends, they almost all started moving to the right. They almost started
all recognizing that there's like real safety issues, there's real crime issues, wondering where their tax money goes, they see corruption and fraud. Things that they never really talked about at all when they were single and didn't have a child, but as soon as they get married and soon as they have children, then they start going, hey, fuck this place. You know, like so many of them wound up moving out of LA right after they had children and so many of them started moving into a different sort of ideology. A lot of people have to get married and have kids for that to happen. And we just had our lowest birth rate in the United States. Is it the lowest ever replacement rate?
Yeah, if I'm not mistaken, yeah. It was before the last time we had actual replacement rate, it was before the Great Recession, and ever since then it's gone off a cliff. That's why we need immigrants. Well, I mean, actually, yes, well, we do need some immigration, of course, because we need a growing population because you don't want to be like South Korea or Japan. You can't have a collapsing population because you use the argument, sorry, not you, but if people could use the argument, they'll destroy our culture if we let in all these immigrants. And yes, of course,
that would happen if you just let anyone in no matter what uncontrolled. Sure. Jealous South Korea is also going to lose their culture because their population will not exist by the end of the century. So there's multiple ways to lose the culture, but I'm a big proponent of selective, high skilled, good proportional immigration. And I think I think that's the more bipartisan issue. That's where like Bill Clinton was in the 90s, sure not. So I think
that's fair. Open borders is fucking crazy. I don't know what was going on. I didn't even realize what was going on. It's nuts. I have friends that were down there that went to the border and then
say you have to come to understand it. You have to see it. It's fucking insane. Like you see the numbers people come across like, how is this real? They just know that right into the country.
We yeah. So I'm on an economic issue because I always go back to economics. I don't get as fired up about the social stuff, but I do like some kind of immigration force or some people are like completely anti-immigration, but I like some kind of immigration because we do need a growing job pool specifically to maintain an economy so that people my age can retire. If the dependency ratio of every person not working for every working person is getting close to one for one in South Korea. In the United States, when we implemented Social Security, it was closer to like 60 to one. Now,
the United States is like five or 10 to one. It's going to the wrong direction. And for every one working person, you have one person not working. The whole system breaks. And that's what we're starting to see in places like South Korea. So we can't become that. So if people aren't fucking, people aren't
making babies, you got to bring some people in, but selective, high skill, what gets scary is if you start fucking up an economy enough with really bad policies, you get brain drain and then immigration. So you see what happens in Italy, Spain, the United Kingdom, brain drain. Yeah, educated people. They're born there typically or they even immigrate there. And they become very educated. They're the ones that are going to contribute to the tax base, great jobs, do higher
skilled jobs, great doctors, everything's like that. But they look around on the economic policies that failed. So they come to the United States. And then there's only the immigrants that have come in that aren't able to replace that brain because they come from somewhere where no fault of their own is just less educated. So they aren't able to contribute to that tax base. We're actually
starting to see something similar in LA right now with the wealth, flight and brain drain, though the net migration, LA is not looking the absolute worst. People that were contributing there, moving away and providing to the tax base versus people that are coming in and aren't being true net contributors is becoming horrendous. And they're looking at like a billion dollar deficit coming up pretty soon for the city of LA. It becomes very scary. So that's why I rail against performative policies because I don't want to end up like a place like the UK would rank 51st out of all 50 states, by the way, in terms of GDP per capita, which is absolutely crazy. Where's the Mississippi?
Then if you're having immigration, well, that's happening. All you have left is just that. Just that. And all your high school people went somewhere else. Same thing's happening in Canada.
They become educated in Canada. They go down to Silicon Valley for a high paying job because they don't pay as well in Canada. But if we start reversing that with bad policies, you start looking a little more like LA and their budgets not looking really good. It's interesting how pragmatic financial discussions are problematic. People don't like it. And they look at it and you're just you're not
talking really even about politics. You're just talking about pragmatic decisions in terms of how to invest your money, how to save your money, how to do that. That becomes right wing. That becomes somehow another cruel. It's categorized in that way as heartless. Yeah, people will clip that last
moment and say I'm anti-immigrants. That's going to happen. But it's not. It's this literal economic theory that we're seeing in the real world right now that's tracked. Intractable. The labor party
acknowledges the left wing labor party in the United Kingdom acknowledges the wealth, light, and brain drain. This isn't a right wing position. This is just reality. It's interesting though that people like in general don't think of it that way. People in general think of it like someone who discusses finances, someone who's very financially astute gets pragmatic advice. That's a conservative person.
It's a bad person. They do think so. They say I'm right wing coated. It's something I call it a lot. Wet ring coated or my vibe is off because personal responsibility.
Yeah. But what do you think? Why do you think personal responsibility is thought of that way? Is it because people cherish this idea that they're a victim and they hold onto it that's part of their identity? And if you challenge that and say no, some of this is your fault, then you're being cruel. You're being your sociopath. You're a fascist. There's a large group of people
that want people like me or Dave Ramsey to just give them a hug and then complain about the systemic issues that got there in there in the first place. You can vote. That's great. Go vote for a policy change. Wonderful. But you do have a little bit of agency and I'm not going to talk to you about
what policy you should vote for because that's going to require millions of people to overdo a system that you don't like. What you do have control on right now is whether or not you swipe the card somewhere, whether or not you get a high interest rate credit card or get a bullshit degree from a private institution out of state. You have those controls right now. And they don't like that. One of the biggest complaints that people like me and Dave Ramsey get is why aren't you talking about the system that got you there? But that's not the conversation. It isn't. It's a one on one
personal financial conversation. Let those people fix their lives. Budget. Budget's why I made a budgeting app dollar wise, by the way, is for that kind of thing. I made a budgeting app called dollar wise with my team. It's called dollar wise. Dollar wise. Yeah. So the average person
can actually budget and take some personal responsibility instead of just falling on the victim mindset. So this app, what do you do? You put in your income, you put in your bills. Yeah. Yeah. It's that
automatic account connections through multiple different services. So you get your accounts connected and you get to immediate insights that show where your money's going, what you can do to actually improve your life and the steps you need to take it. They fully guide you in that process. So we motivated to do this just based on these conversations you've had with people that don't know what the fuck to do. That and to make a shit ton of money, but both of works pretty well. But yes, no.
Which is funny. You're making a shit ton of money by people that can't figure out how to save money. Yeah. But if they make more money because they save money and I make more money, that's capitalism. It's a value. Yeah. Exactly. You're providing value.
No. I mean, that's the point. Like I used, did you ever use Mint? No. You remember Mint? Okay. So
it's a big budgeting app a long time ago. But for some reason, the service that bought it shut it down. And that's what everyone was using. But even then I remember stopped using it. Like many people, most people fall off of budgeting apps because they're just burdened some. That it takes a long time to
figure out the systems and they're just over engineered for the personal finance nerd that loves every little detail. So the average person doesn't do it. So we just built something simple that just shows people immediately where their money is going and what they needed to do to change. So that's what we focused on when we engineered this thing. And so when you're having all these conversations with all these different people that have like these terrible budgets doing a terrible job of taking care of themselves, do you ever get this feeling like that you're not helping? Like this is like an insurmountable
problem. You're sticking your finger in a dam and there's a fucking million leaks and this is not going to work? To a certain extent, yes. Luckily in the United States, we have some tools that help. So if someone's in that situation where the dams about the burst, everything's about to blow up, they can go through bankruptcy. But bankruptcy does not make sense. And this is what a lot of people
mess up. Bankruptcy doesn't make sense unless you actually change the behavior that got you there in the first place. Because we've had people that have come on my show that have been through bankruptcy twice and now we're there again. It makes no sense. You can get rid of the dam. You can get rid of it
by bankruptcy. But you're going to build up that thing to explode again if you don't actually fix the behavior. So people take shortcuts through credit card consolidation, debt consolidation, personal and all that good stuff. Those are good tools. But if people don't actually fix their behavior first, they're going to fuck it up. So Dave Ramsey is vehemently against debt consolidation. For a reason
that is fair. I don't like being anti something 100% because personal finances is personal. But this is his argument. It's kind of fair. You build up this much in credit card debt from here to here.
And then you can consolidate it into this new debt. So this is one new debt that consolidated this down to zero. But now what happens is the credit card limit is still all the way up there. So people now have this debt. And then without changing their behavior, they build the credit cards back here.
So now you have double the debt. That's the issue with that consolidation is to not change in the behavior. So his philosophy is correct. But what we try to teach people on my show is that change the behavior that got you in that first stack in the first place. And if you can prove that you can follow a budget for a few months, then you can take that shortcut by consolidating and then probably just close those cards so you can't use them. But the same thing applies for bankruptcy.
So that's why our show is simple stuff. You just fix the spending, you get it under control, you'll live in even Elizabeth's warrants 50 30 20. She's the one that pioneered 50 30 20, which is 50% on needs 30% on wants 20% on savings. That's Elizabeth's warrants rule. And she's relatively correct on that doesn't apply to everywhere like LA New York of course. But
if you can follow that and prove you do it for a few months, then you can go through bankruptcy. You can use a personal loan and that solves the damn issue. It solves the bigger issue. Yeah, the changing your behavior thing is very hard for people. And it's also very hard for people when that spending of the money is the only reward you get for a job you hate. Yeah, it is. And I'm the
one talking to them and I'm a fat fuck. So like I get it. Like I haven't fully taken control of my health behaviors and eating behaviors. So I know that it's hard to fix it. But oftentimes the people on my show, I've been in the exact same situation. I was when I was 20, 21, and I seen what it's like
on the other side, just like many people in your position, seeing what it's like on the health, the health on the other side. You know how good it is. So you want other people to do it. And since I've been through that personal finance side and gone through the work, I can at least help hold people's hands and show them what it's like to go to the other side of that tunnel to put in the work, the temporary sacrifice of a few years and really live the rest of your life in such a better way. Yeah, it's just changing behavior requires a change in perspective. It requires something.
And for some people, they have to hit rock bottom or they have to have some, you know, they have a birth of a child like something rocks them into reality and they go, whatever the fuck I'm doing right now, it's on the right path. But it's just so hard for people when they're playing this blame game and they're looking at successful wealthy people as being the pro. We'll get Jeff Bezos in this fucking yacht. That's nothing to do with you. It's not why you're broke. And you should look at
him and go, how the fuck did he do that? How can I do that? I want you. Fuck it. Let's go. But no one's
doing that. They're instead deciding that they're a victim, deciding that the game is rigged, deciding that there's a cap on their ability. But meanwhile, this is if there's any place on earth where you have the ability to rise from the bottom to the top. This is it. This is the spot. This place better. You can
say it's not fair, but what does that mean? It's possible. You could do it. People have done it. You just have to figure it out. And like, you have to spend less time playing video games, less time
smoking weed, less time doing nonsense, and more time plotting your fucking future. Figure out what it is. I think there's also a problem in a lot of people have something that they really want to do that they're not doing. And they they're not pursuing that. And so then they're even more bitter because they're spending time doing this job that they hate, which sucks. They think it's taking away
from their ability to do this other thing, which sucks. And then they come up with all sorts of rationalizations for why they're not doing it. Yeah. But what you said is 100% correct. Well, let me let me phrase it back. Yeah, it's not fair. The world isn't fair. Now what? Right. It is what it is.
Like it is. Okay. So accept that. Where you're going to sit on it and cry. Like that's the only option, right? Is that or do something? You're denying people's feelings, Caleb. I am. You're denying
people's feelings. And that's very right coded. Yeah. That is right. That's the argument. It is. It
is like, I don't know, man. Right code is fun. If people just, if they're getting the bullshit degree and they borrow a shit ton of money for it, that's not my fault. I didn't do that. This isn't Bezos didn't do that either. They say, well, sociology and stuff should pay more. Okay, the markets determined
it didn't. So now what? You still get to choose what you do. What business you start. You might fail a thousand times, but you have so much more agency than people right now are willing to accept.
And that's all I really care about telling people in the end. That's all. You have agency. Takes a personal responsibility. You are not the disabled person that actually does not have agency.
Because there are people that don't. You're not that. Right. Yeah, it's so important to say. And I think, you know, as much as it's probably frustrating, you know, when I brought it up that you're putting your finger in this dam and there's a hundred holes, I really do think that you have a positive impact. Because I really do think there's a lot of people, I mean, you get millions of views.
There's a lot of people that are watching these conversations and it resonates. And they go, this is me. He's talking to me and he's right. Fuck. What do I do? At least it puts them in this
mindset that a change needs to take place. Yeah, exactly. And then you give them tools. You give them what you explain to them, what the steps that they can take. You know, and that's the the crazy thing is they're not getting this from school. School's not teaching you how to
organize your future, which is fucking a critical skill, a critical piece of knowledge. Like having a path that you can actually follow. I think it's a lot of the time it's the student councilor is there because I remember being in school in high school and the student councilor I met with her once a year. And the only conversation is what do you want to study in college? That's all they cared about. It's fair for most people, college does still have like a 60% premium on those without
a degree on average. But that's the only conversation and it is becoming less and less valuable as every year goes on. And if that's all school cares about, they don't care to even show you how to, okay, I mean full admission here and I'm going to look like the most beta posting in the world, but I don't know how to do a fucking little change. I don't. Why didn't school teach me that? Why?
Why wasn't there any life skills? Now I have the personal responsibility. I can go teach myself that right now, but I have a Tesla so I don't need to. But why wasn't there anything about actual life? The only thing there was to do was go to college, nothing else. That was the only conversation.
When I went to high school, we had a auto shop. Yeah. So I did learn. I think they got rid of it the year before I went. Really? Yeah. Oh my God. When I went to high school, I went to Newton South
high school and there was this guy who ran the auto shop that was a Mustang enthusiast. That's what he loved, old Mustangs and he would like fix them. And he would take his cars and teach kids how to fix his old Mustangs. He had like 1960s, early 60s, 65, 66, he liked the small Mustangs. It was a fucking very interesting guy. And he would explain to you like how spark plugs work. Like,
this is your carburetor. This is why it's jammed. This is, you know, this is how the internal combustion engine works. You'd explain it to you. Like teach you things, teach you like general maintenance stuff on cars. And it was very valuable. Teach you how to jack up a car to,
like how to do it safely. Where's the jacking point? Where's the lift points on the bottom of a frame? Yeah. And home at classes too. Yeah. This would be a big thing. Teach out a cook. It's falling away. And
now of course, now that we don't teach people how to cook, they're complaining about not eating out. So disappearance of traditional shop classes did not happen overnight. It happened in distinct phases. 70s and 80s budget cuts. Major tax revolts such as California's Proposition 13 and 1978 decimated public school budgets because maintaining workshops buying heavy machinery and securing liability insurance were expensive. Shop programs can easy targets for elimination. 90s,
Chinese college prep push high school shifted their focus to standardized testing and four year university preparation, marginalizing vocational training, which we want, which is really crazy, what you're saying earlier today or earlier on the show was very important. It's like trades might be the only secure pathway becoming a carpenter, coming to electrician, you know, heating and ventilation. Like people are going to have to have those systems installed and maintained. And we're going to need people for that. And that's a job. You start your own HVAC company. You can
make some real fucking money. Yeah, absolutely. And even things like apprenticeships. If you get an apprenticeship, you have a 90% chance of being retained to a full time position and get into apprenticeships. Yeah. Like, I know just like a little fat dude with some soft hands, but it's okay to
do it. You know, those are good jobs. They're good paying jobs. They're good career position jobs. They are. And if you want a good job, and it's also it's like, there's a weird thing with degrees,
like degrees means your value as an intellect, as a person who can think you're a smart person. You went to school and you got a degree, but if you have a degree and you're fucking poor, and you know what I'm saying? You're depressed. And this guy is a tradesman, and he's wealthy, and he's making money. People with degrees still will look down at this. Oh, is it plumber? Well, fuck this
you know, but I don't see country works. Like I'm sorry. Some of the wealthiest people in our country that have built the largest companies or college dropouts. It's true. Like I can't. I can't just
fully respect the college degree only, especially when you can get the most bullshit degrees now. And especially where the average GPA and passing tests have gone substantially higher because our standards are so much lower in universities now. It's pathetic. It's becoming harder and harder to respect a degree. There's good degrees. There really are, but it's getting harder and harder
to just respect it as a blanket statement. Yeah. No, you're absolutely making sense. And it's also education is so readily available. If you want to educate yourself, there's just YouTube alone.
You could kind of learn anything. You can learn anything about anything. And if you're really interested in actually doing the work and actually trying to absorb the information, you can get a high quality education without ever stepping into a university. Just with audiobooks, just with YouTube, just with, I mean, it's there's so much knowledge, much more than any other time in human history. So the idea that the only way to get an education is to go to these socially captured, these politically captured environments and be force fed this indoctrination of horseshit by communists who have never had a real job and also be in debt and insane amount of money because you're spending more money for that education than you're going to spend on anything else when you're 18 years old. There's nothing even remotely close to a year in a university degree unless
you're buying a new car every year. Like what the fuck are you spending back on? Like, how much, like, what's what's Harvard a year right now? How much per year is Harvard? Was it 50 60?
Way more than that. As a student loan balances people borrow on average ranges from 25 to 40,000 dollars for just an 18-year-old to sign away. Nuts. Through their four-year degree. It's crazy.
It's crazy. It's all administrative bloke now, too. It's not even going to anything. It's almost subsidized. Like, the whole thing is gross.
62 for undergrad. $62,000 a year. What else are you spending $62,000 a year on? That's what I'm talking about. Now, imagine, what's that Jimmy?
Without fees. Including housing, health fees, and student services. I'll tell you. 80, oh. Including housing, health fees and student services coming to approximately $86 to $95,000 before financial aid. So with housing, health fees, and human services, it could get to $95,000 a year.
That's fucking crazy. And if you go through that and you get a degree in gender studies, that's wild. Now, for a fact, there's a $62,000 car out there. But for a fact, they will not lend that car amount to an 18-year-old. I don't know why they would do it for college degree.
It is kind of a question. New York Times 1983, that's titled 1980s Grads Baby Boom to Job Bust. But this sounds a lot like right now. But doesn't mention anything about debt or AI. Yeah.
So more than 900,000 of them in the 1980s have discovered that they must put aside college day dreams and settle for jobs that do not require a degree if they want to work at all. So this was when? 1983. Whoa. Yeah, they're all going in for jobs and none of the jobs that they want are available.
Yeah. So they have to, you know, look at your communities. It says, yeah, the Federal Bureau of Labor Statistics has long predicted that the number of college graduates would exceed the number of technical, managerial, and professional jobs available to them, a result in part of a decade and a half long influx of well-educated baby boom generation into the labor market. The problem is like young kids, if you ask kids, the vast majority of them, what they want to do, I think, I know this isn't California. It was like overwhelmingly they want to be famous.
Yeah. I'm going to run in the world of influencers. It makes sense. Everyone's trying to be a Tiktoker. Well, everyone's also want to do what you're doing.
Yeah. You're an entertainer now. You're giving financial advice, but you're also an entertainer. Yeah, it's very cool. And I wish everyone could do it.
Most of us aren't lucky. I got lucky. I don't know. I mean, that's not a realistic thing, right? We got to be realistic.
But what does that mean? If someone could do it, you can do it. It's the numbers aren't good in terms of like the amount of people that are going to make it, but what are those factors that are keeping people from figuring out how to do it? Well, you know what though? I wasn't, I wasn't fucking retarded about it.
I had a full-time job and I only allowed myself to go full-time on this thing. Once I proved I had enough income to replace it for a few months consistent. Most people, they're like, let me just quit my job, or I'll still money and start recording some videos. Like, you're a moron. You're going to fail at that.
I was strategic. If I didn't work, or if this didn't work for me, I would still have that job. Because I didn't quit that job. What were you doing? I was a product manager at a tech company.
Did you date it? Kind of. Actually, yeah. So I started applying for other jobs and a YouTuber almost hired me. Then he did it.
So I did it myself. That was kind of the path. So what was the job that you were going to get hard for? The YouTuber. Do you know Tyler Aloevera?
No. Okay. Either way, I was going to be like a production manager for him. Good guy, but I just didn't get the job. So yeah, but I wanted to do it.
So you decided I'm going to just go and do it myself. Can I just record it? Order a bunch of equipment and set up something and started recording financial audit. This was a show I wanted to see, but it didn't exist yet. So I decided to make it myself.
Really? So no background at all entertainment. Nothing. No, I was like making stuff like making music. That's why I went to college making YouTube videos with friends in high school.
But in an ideal world, would you be making music? No, I'm way richer than. But is that much better than the actual music itself? This is so much more fun because it impacts more people's lives. It really does.
Like that's fucking cool. I mean, there's a lot of YouTubers, but being able to leave a legacy and actually say that you've helped tens of thousands of not hundreds of thousands of people actually fix their lives, that's actually something special. Yeah, that's something special. Not a lot of people get to say. So I don't want to give that up.
That is cool. But do you still do music at all? Not really. It was like concert band composition. And I'll be honest, I don't think they would let me into the world because I'm right-winged coded.
And I like it sounds like a joke, but it's actually real. Like there if you go on the music side of Facebook where they all are different band directors and different things like that, they're all very, very woke. Which is cool. I'm down. I'm down to hang out with them.
Grab a beer with them. But they kick you up. Wow. Yeah. It's pretty toxic.
But no, I mean, for fun, I write a little on the side. But my passion is this thing. Do you perform music or do you just write it? I used to play trombone, but it was mostly writing it. That was the passion.
Well, my passion is building my business now. Like I have 40 people that work for me here in Austin. It's really cool. Yeah, 40 employees? Yeah.
We're doing a lot of different things. We have over 100,000 people who are paid membership on YouTube. So that's an entire business on its own. It's crazy huge. So what is the paid membership?
What's the difference between the paid membership and the free membership? It's $10 a month. And they get access to, we put on three premium shows that me and my production staff make daily. So we have a whole, almost like network for them to consume behind the paywall. And what are these shows about?
It's a variety of things. It's breaking down financial audit episodes. We have a show called Fat and Fatter. We're me and one of my talent people or whatever. We test food from different restaurants and rank them based on finances.
They're all finance based shows. So there's just these really cool, fun things that engage with the community. And they love supporting us. So almost 110,000 people a month subscribe to that, which is really cool. That's amazing.
And then the budgeting app, DollarWise, that we're building, financial audit. And then we have these personal services on our own website as well, so people can apply for personal loans and things like that. So we're trying to really scale something. And that's much more of a passion than writing music ever was. So it's much more fun.
That's very interesting. So you're doing that. You got the DollarWise app. You have this YouTube thing where people can subscribe. But you've got some plans to build out and to take this even further.
Oh, yeah. We want to scale this budgeting app a lot. We want to really make it one of the top dogs out there and really provide a value that isn't being met in the marketplace. I'd love to build up some other YouTubers at some point. We have figured out the algorithm.
We figured out what people like. And I want to help other people that want to create different finance content. Finance content is boring, like you said. And we found a way to make it interesting and entertaining. I'd love to help some other people launch their stuff.
And then the personal financial tools. Similar to what Ramsey has. Dave Ramsey, they have. They connect people with mortgages and stuff. We want to make sure we can provide that.
But in a way that isn't so limited and stringent to a strict ideology. So there's a lot in the market that's not being met that I really want to build out. And for young people, to have a resource like that, where there's someone who doesn't have a boring, stale sort of perspective that could teach you how to budget yourself and how to take your money and invest it. And then I'm sure there's a ton of online platforms that show you how to cook. They can show you how to shop, how to, you know, how to save money by growing to a grocery store and what's cost effective and getting your nutrition in, but also saving some money.
Yeah. What's the question? I'm sorry. No, it's like it's a beautiful time for young people if they access these things. I'm just saying that for young people that are listening to you and like, I don't know what to do.
Oh, you're right. Oh, I do spend, like, let me look at the amount of money I spend just getting door-dash. Holy shit. That's actually a large percentage of my check. And how much would it be if I just went to the grocery store once a week and I got all my food for the week, Jesus Christ, I'd save $300.
Here's the reality. You don't get to have fun if you don't have a fully funded emergency fund. That's a basic reality. Only 60% of Americans can cover a $400 emergency, meaning 40% can't. That's $400.
So when you say emergency fund, what do you consider an emergency fund? So there's a debate between three months to six months of everything you need to live for a month. I'm on that six months side because, you know, things like the pandemic and shutdowns, we're in that kind of world now. So we may as well go that full way, get a six month emergency fund that protects in case of layoffs or just losing money or a medical emergency, whatever it may be, you got a lifeline. But that's basic.
Like that is so critical to life for like a sick pet or a broken car that if you don't have that, I don't want to see you in a drive through. That can't be acceptable. Going on a vacation is not acceptable. If you can't protect you and your family at the basic level, I'll give you a little bit of grace if you're not fully investing. OK, but this is like basic survival shit.
It needs to be just as critical as having like a first aid kit in the house because it's that serious. And that's what causes Americans to just flock up their houses financially and emergency happens. The layoff happens and they're not ready. It's scary and people are not ready. I know, it's like that the problem is hearing that with young people, it's like that's boring.
It is. I know. They don't want to think that way. They just want to go have fun. They want to play video games.
They want to go to the bar, which is fair. But a six month emergency fund isn't that crazy. It's not saving millions for retirement. Do that. Then have some fun.
Get to three months. Then have a little bit of fun while you're saving to six. Adjust that. Or at least at a minimum, be able to cover your highest insurance deductible or like a one month emergency fund. Have something.
The fact that 40% don't have $400 set aside, not for a rainy day for an actual emergency is terrifying. Yeah. So now what are your thoughts on crypto? I like crypto. I have a small amount of Bitcoin in my portfolio.
It's pretty good. 10% of Americans use it as an investment tool. So it's still pretty small for the overall American public. But I like it in general. Have we hit the full bubble in pullback?
I wonder. Well, the crypto outside of Bitcoin gets very odd. Like meme coins. And I'm heavily invested in Melania Coin. I don't know what to do.
Not personally. Not in my portfolio. But there's things like that where like what's going on? Like who's putting their money into the Hock to a coin? Yes.
You know what I mean? It's a very weird gambling thing we're doing. It's like a legal peer-ments game. Yes, exactly. And it's mostly just used by people for get rich quick.
Real quick. I don't even know. She made money. I think she got fucked. I think she got fucked.
And her reputation got destroyed. Like people hated her. They're angry at her afterwards. Yes, she gets like 5,000 views of video. Now it's pretty brutal.
I think she got sucked into this idea. You know, somehow or another day was going to be OK. Like the people that got sucked into the NFT thing. I mean, man, how many conversations do we have about NFTs where I was trying to get someone to explain it to me? Like no one can explain this to me in a way that makes sense.
Why I can get that same picture and put it on my phone. And it's free. But you have that picture on your phone and you own it. And then it died in six months. But that was one where I was like, what are they trying to sell?
And how are so many people buying it? If you can explain to me what you're selling. But yet, millions of dollars. I know a guy made over a million dollars in art NFTs. Yeah.
No, it's an actual thing. And I think what every single person that gets in every pump and dump thinks they're going to do is get the pump and not the dump. They think they're going to be that exception. They're not going to be. It's like day trading.
Day trading is even better. And that's still only 15% win. Only 15% win day trading. Really? It's higher than you think.
Yeah. Wait a minute. So 85% lose at day trading? Yeah. It's actual day trading, like, day trading.
Like, day trading. Like, day trading. It's brutal. Holy shit. Those pump and dumps are even worse.
But everyone's a special little snowflake. They think they're going to be the one. They're going to beat the system. Yeah. It doesn't work.
But I think there's some good value in Ethereum or Bitcoin. It's actually being utilized. Aren't these meme coins also a good way to launder money? Oh, well, well, Honda, actually, that's interesting. I bet.
I wouldn't be surprised. So it certainly distribute money to people. Sure. Like, if you made a Caleb coin. Yeah.
And I said, oh, what do you think? We're going to have an idea. Well, you and I collaborate. I'll finance your Caleb coin. And you dump out early and you get all this money from it.
And fuck all these other people that thought they were going to make money. And they're not going to anyway. And now you've got that money. And now we're going to work together to do something else. Yeah.
It's a way to move money around in a way that's not directly financially compensating someone. But yet you are. And there's entire websites dedicated to the pump funds. I think it's like pumped out fund. Really?
That fund? Sounds like that. You can make a coin. You can invest in one. It's all for pumps.
But they just, everyone thinks they're going to be a part of the pump. Not the dump. It's crazy. But this is the Wild West of unregulated currency. My fear is people are going to eventually wind up being stuck in a centralized digital currency that the government controls and it's attached to a social credit score system.
And you know. OK. That's scary. That's scary. That's a very thought.
Further down a scary path. Well, people have actually proposed that. It's saying that we need this to compete with China. I've heard this. Really?
Yeah. I've heard this being proposed by politicians. It's quite terrifying. Because if they can turn your money off or on, if they have it and turn your ability off or on to buy things, whether you can buy plane tickets or if you're not, if you're problematic, you've done something that's crazy. Yeah.
But that's where all this control goes to. Sure. It definitely goes to what's the best way to control people, completely eliminate their ability to spend money. Lock them money. People smoke meth on the trains.
We have a racist system, Caleb. And all these people have been victimized from the time they're young. I've always said that if you want to make America great, really, what you've got to do is have less losers. So figure out what's going on. Like why are there so many people at a homeless?
Why are there so many people that are locked into these crime infested neighborhoods and gang infested neighborhoods? And this cycle completes itself over and over again, decade after decade. Like invest money in that. You want to make the world a better place? Fix all that.
But there's no effort to do that whatsoever. And no politicians ever bring it up. It's never a discussion. Yeah. And it's good to set up incentives in the system as well.
So California is moral on a lot of things with their social programs. But because a lot of their social programs and everything they've set up and safety nets, they're 49th in unemployment. Like it's not great. The incentive isn't there for people to go out. Is that really what they're at?
49? I think they were 50th until recently. Oh, God. Yeah. No, it's not great.
Well, an incredible type of movement, why not? But when the incentives are easy to manipulate and take advantage of. What percentage of people in California are unemployed? I don't know. Let's find that out.
It's 48 now. 48. And California is moving on up 5.3%. But that's also 5.3% of people that are actively looking for jobs. Exactly.
They drop off as soon as they stop looking for a job. Which many of the young men are not? They're not doing anything. And how's they making money? I don't know.
Parents. I don't know. It's pretty pathetic, I'll be honest. Imagine if you're a fucking parent in your 60s, and your 40-year-old son is living at home with you? No.
I was pulling up some nerd stats before coming on here. And I was reading through Bureau of Labor Statistics or Gallup poll that 40% of people aged 18 to 29 regularly receive help from family relatives. Wow. Which is an incredible percentage of that age group. That's scary.
Yeah. Again, the incentive is like, I don't know. When I was 18, I'm not even at all in 31. But when I was 18, I was so excited to go out there and be independent of me on my own. That was everything.
I was so excited to make my way in this world. Right. I wouldn't want to leech. I wouldn't want to leech on any system. But maybe that's why I'm successful.
I don't know. Maybe I am. That definitely has a part of it. It's a factor. But there's a lot of people that just do nothing.
And they're not looking for anything else. I don't think we should support those who need help. I'm for robust social safety systems, people that become unemployed, people that need help getting food on the table for the family. That stuff is important. But if we are enabling bad behavior, it doesn't work.
And then we have a failed society because people aren't going and creating things. Luckily, we're not there yet. But I just don't want to head there. Yeah. And the recognition of human nature is not cruelty.
It's just you really can't help people all the time. They have to be able to help themselves. And one of the best motivating factors for helping yourself is desperation. Yeah. People don't like to hear that.
But that's true. If you bail people out every time, they're never going to bail themselves out. And that's just a fact. Yeah. Now, this doesn't mean that a family that's on hard times, it's down their luck, shouldn't get social safety nets.
Of course they should. That's a big part of a community. A community should help its vulnerable people. It's part of it. But you also have to teach people how to not be vulnerable.
I think that's a great part of what you provide. Oh, does it make any sense? What does it say? I mean, it's a California holds contrasting unemployment rankings depending on the metric. It ties for the highest unemployment rate in the nation.
But places second overall for the best states to work due to strong wage policies and worker rights. That's also probably why a lot of people are unemployed. Yeah. I mean, so does that get a job? Have a great.
A job there with the vacation policies and worker rights, it's like the best thing in the world. It's incredible. Like even in Poland, which is one of the more capitalistic countries in the EU, if you get fired, they still got to let you work for them for a month or two. Yeah. You have to let the employee, you fired, work for you for a couple months though.
It's pretty brutal. So that's a still show up? Yeah, they still have to show up. So when you get fired, you have a two month grace period? Basically.
Basically. Wow. Imagine how bad that guy's going to perform. When he has to get paid and he's there for two months, and you deal with this disgruntled asshole kicking around the office. Yeah.
And that's what I'm really really disagree with, most of anything California does. All I care about is outcomes. But politicians don't get elected based on outcomes. They get elected based on what sounds good in an election cycle, what they can promise, the performative things they promise. Outcomes are never tracked or not what matters.
That outcome is 48th and unemployment. That's the actual outcome. You were a little anti-California when I see clips. And you didn't even know it was 48th. Like that is crazy.
Like we should know that. But outcomes is not what's tracked here. We don't track that. It's not in our nature. It's not in the politicians nature either.
Well, it's just such a problem with people that finance and talking about money and talking about jobs is just not sexy. They just don't enjoy it. And it's part of the reason why so many people are on these bad paths is that they don't have these thoughts in their head. They don't really understand. And I think that's one of the more important things about these conversations that you're having, is that people do need to hear what their consequences are for fucking up, what their consequences end, that there's a path forward that you can actually fix your fucking situation.
Everyone, we are so lenient in this country with our pink corruption protection laws, it's crazy. We are, if there is a place to escape a bad financial situation you're in, the United States is pretty damn good. Except for student loans. Except for student loans. 11% of current federal student loans are under default.
That's the biggest of any kind of debt category in the country. It's bad. And people don't understand the consequences. You know what's so stupid? This is what pissing me off, because I have people talk to me about it all the time.
They say the student loan system is fuck. And relatively it is, but they get why? Wrong. They say this is too expensive. I can't pay it.
And if I don't pay it, then they're going to garnish my wages because of when did they default? Brother, Republican Donald Trump signed in the Big Beautiful Bill the repayment assistance program, which is different than the previous program. But that allows as little as 1% of your income, depending on your income situation, to qualify as the minimum monthly payment. 1%. You won't default.
Do 1%. But they're complaining that it's too expensive. They're just not willing to look into the actual reality and just say, hey, give me only repayment assistance program. They just want to be victims. Say it's all bad.
It's all evil. It's not perfect. But they don't understand why. They complain about the wrong thing. What's wrong is we'll let you borrow whatever you want to get whatever bullshit degree at whatever college you want to go to.
That's what's wrong. Every time we raise how much you can borrow for school, schools conveniently raise how much it costs to go to school. When it was cheap to go to school, when everyone was like, back on my day, it was cheap to go to school. You couldn't borrow money to go to school. It's set in line.
Right. Right. Why wouldn't they charge more for administrative blow in creating like southern schools have? I think in Alabama, a freaking lazy river on their campus. It's a recruitment tool.
They do that. If you can borrow more money, they will charge more money. What does it say, Jimmy? You can technically get your student loans discharged via bankruptcy. There's just a few different ways to do it.
But it's not automatic. It takes extra steps and proof of undue hardship. What is that? How do they define undue hardship? Well, you've got to go to a judge.
So maybe if you got paralyzed? Honestly, it's going to be case by case. But I've looked it up a couple times. And it's not. It's just difficult.
It's just an impossible. A trudge. It's pretty rare as far as I know. Yeah, as far as I know as well. Listen, Caleb, I think what you provide is very valuable.
I really do. And I like it. And then you've found this new avenue where you're entertaining, but you're talking about finances and giving people really good advice, sound advice. And if you don't follow your advice, people are going to continue down the same fucking shitty road and their life will be ruined. And I think it's awesome that you do that.
And it's awesome that you figure out a way to do it and make it entertaining and fun. Thank you. I appreciate that. So my pleasure. Thank you.
Thanks for being here. And one more time, your app. Tell everybody. Tell the wise. Tell the wise.
Tell the wise from the app store, Android as well, or something. And your YouTube channel is just straight up. And then Instagram, all that stuff. All right, let's go. Thanks, guys.
All right, bud. All right, bud.