#2509 - Caleb Hammer

>> The Joe, Rogan, experience. >> Join my day, Joe Rogan, podcast, my night, all day. [MUSIC] >> Good to see you, sorry. >> Good to see you, sorry.

>> You're doing nice to meet you. >> Very nice to meet you, too. I enjoy your content. >> Thank you, a very sensible person, and you do a lot of very unsensible people. >> [LAUGH]

>> How do you keep your shit together? What do you talk to these people? You're a fun, we tell everybody, you're a finance guy. And did you start out?

“>> In debt, and then figured out how to get your shit together?”

>> Yeah, exactly. I was in college doing all the stupid American things, right? So you got that unlimited student loan debt for a Bolshevik degree. I was going for music composition, so complete Bolshevik degree. Max announced 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. >> You're a parent. >> Yeah, this is the average American experience. >> You just max out of credit card.

I don't know if your parents taught you anything about personal finances, but most don't. It's bad. So, I was just maxing 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, crazy amount, defaults are to like 7% which is insane.

7% of credit cards, defaulting. >> That's crazy. >> Yeah, and that is really nuts. >> Yeah, that's cool. >> That's cool and a 10 default.

>> Yeah, that's absolutely insane. We have more auto loan debt in this country than credit cards too. >> We're even crazier because Americans, they're big pick-up trucks and everything. But either way, I was doing that. Got my Nissan Ultima and you know, thinking I was sick driving around and going into

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, the American Dream, pick-up fence, all that shit. But there's no way to do 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, pan off the debt, fully funded emergency fund, and that's what I tried to teach people now, but again, the average American is kind of in idiot with money. >> Which is fair? >> Well, they're not persistent.

>> Which is one of the things I think your content really helps because a lot of people don't know what to do. >> Yeah. >> Like you're in debt. How the fuck do I get out of this?

And a lot of people they know are in debt, so they don't have good advice, they're not going to get from their parents, so 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." 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 the ownership. They meant it is a dig at first, but I take it, because it's fun. People don't go into financial topics, because it's boring, why are you clicking out

a video of a dude just sitting at the camera, just like, you know, IRAs or this, no one's going to get into that. Personal Finance class, like 40% of states, which is almost 40 states out of the 50 states, require personal finance class now, which is big progress over the last decade, but, I mean, I was a patient and I was going to sleep into that class, I'm not going to listen

to things there. I couldn't, I could barely pass math. Schools is 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 rows, the dramas, the relationships of couples, episodes in my favorite, because there's

always financial stresses in relationship, and I don't know if that actually gets people

into personal finances as 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, credit card debt, and the big one, student loan debt, because that's the one you can't get away from, and there's a lot of people that are just about, well, I guess I have to go to college and look, higher education is great, it's good to be educated, it's good to get an education, 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

And when you're fucking 18, you really don't know, you don't know what you want to do.

“You don't care and still 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, oh, oh, oh, where you're going to live, where you're going to buy a house, like you're going to be set, well, they don't tell you is that you are going to be saddle down within say them out to 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. Yeah, it's fucking crazy. Yeah, it's substantially higher than the initial loan part of it is lazyness, 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 let me think about it. I assume you have a mortgage, right? 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 directed to 60 years,

the interest in overall payment you're going to do is insane. Right. 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 the 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. No, those people will have forever. Forever. It'll be

forgiven in 40 years. It says, we'll see, because, you know, it's new. When people are doing that, they're going to have it forever. It's going to balloon 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. They're so scared 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 that 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. And 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% a side a month. 10% a side. They have the best housing market. College jobs. They were set up for everything. If they just put five to 10% a month aside and 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, 23. That's when the

funds dry. So payments get cut by 25%. Yeah. 233 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 233. Well, we have to pay for transgender migrants. It's really 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. I saw the video. They had taxpayer 100 boobs. That's nice. Oh, it's too late. You explained it. Or the way she explained it was hilarious. You know, like something about her, her body's priceless. So how much did they cost their free? Yeah, I can't blame her though. I mean, the program's there, right? Of course. So I'd take it

if I wanted some new tits. Of course. But it's crazy that we are. And of course, the one we filmed

that was like two days after I wrote a $4 million dollar income tax check, whatever, to the federal

government. Right. And you're thinking about this, like, where's that money go? It's going to tits not finding 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 saying, hey, go look into that garbage dump

“and clean it up. Like, 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 that's nothing done. Like, what are you doing? Which is insane, because America, the leader of the world should have incredible 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. It's crazy. Because like, nothings, but how much have they spent on the high speed rail so far? It's something bonkers. It's millions. Some of it's saying amount of money and nothing's been done.

“And there's this guy in YouTube. Do you remember the guy in 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.

Bright lines, private. Spent an order of midteens of billions, midteens so far.

On the high speed rail, roughly around $14 to $16 billion as of the mid 2020s. How much of

his done, Jamie? How much of that rail's done? Well, some of it is actually getting close to it. Oh, my God. Amazing. So what, Baker's field. Yeah. How much is completed? 14 feet. Very little. 119 miles of active construction. Oh, 119 miles. But they're a dear Baker's field or under active construction. What a great way to spend $14 billion. I bet the homeless people are pissed. You can spend

that money on us. And then once it's done, you'll get on the train. You'll have fair evaders, people that just jumped over that are doing drugs on the train. If you were 25 and 1990, you made an average US salary for 40 years, saving 5 to 10 percent per month, and the

S&P 500, how much would they have? Now, they would have around $2 to $5 billion, depending on exact

assumptions, starting at $21,000. Yeah. Like, this is hard for me to, and they, 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. That's crazy. Isn't that nuts? You imagine 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 or 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 buy into that and it just 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 401(k) where it's free money matches and everything.

“It doesn't really make sense. So, do 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, the dry YouTubers that maybe no one's watching. And yeah, I mean, you'll get a like this. It's super simple. 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, it 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 that was still listening to. That's what scary to me. What, really? Yeah, 60% podcast are giving them advice. Any personal finance? Any personal finance? No, even on like kick or twitch, there's streamers. I'll log on on the morning just see who's streaming and some of the top viewed people are day 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, black rock,

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 in there as a little scared, but it's doing really well. It's beating my own money guys. So kind of hilarious. I mean, 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 in video makes AI chips. I'm just going to buy a shit ton of the video stock and then boom, we pass this thing. Hey, look at that. 500% increase. We. I think my thousands up like 20, 30% in just a couple

It is nuts. You know, and like what are the laws? But it's like you could clearly follow her.

But what are the laws in terms of like which 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's”

hard to track. They're getting into that shit with calcium now. Right. You know, some of the people that were in the operation from Maduro 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. But big investigation just opened up yesterday or today. Oh, he just got a pardon for something else. He bet on. He went on Instagram. He was like, hey, guys, I'm going to 100% be at the state of the union.

100% I'm going to be there. Here's my seat. And then he immediately bet that he will not be at the

state of the union. So four people close to him have been working with the FTC on that. Oh, my god. He's retarded. Yeah. That's so important and everything. That's so dumb. Bro, you got free and you're fun. You should do a podcast. Yeah. He could make millions doing a podcast. Yeah. He's been

“on another podcast. He's good. He would be great. Is this has to get his 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. We had a, there's, was it Pauli market? What was it? Where they had odds on things that we do, what we're going to say, what guests we're going to have on? Probably both of them. Probably both of them. No, look at that. We looked like a Jamie shut that fucking laptop and do not open that website ever again,

because like you could do it. Like we could, I don't 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 the odds? Like you could probably better substantial amount of money through some fucking offshore account. This episode is brought to you by simply safe. One thing you probably don't think about when you're planning the perfect summer getaway is protecting your home. But if disaster strikes, you want to be prepared,

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it's completely bipartisan. It's not like it's Blent Nancy Pelosi is the scapegoat. She's the one that everybody beats on. But if you look at it, it's red, blue across the line. They're all doing it. Yes. They're all trading. They're all making shit tons of money. They all go into Congress broke. They all come out rich as fuck. Yes. And they get $100,000 a year. Fuck off. Fuck off. It's crazy. What is uh, pull up the Santos case. Find out what's happening. I'm fascinated by that. I mean, honestly,

he uh, it's uh, it's, uh, it's just, I guess it was yesterday. He has burned it. My MPR R. And he's got my MPR. He was like, it's news to me. He said, it's news to him. He goes, reached by MPR. Uh, well, that's news to be when asked about the insider trading probe underway, this activity on calcium. Santos said, I'm not saying yes. I'm not saying no. Well, he had a question whether he had a calcium account. He wanted to say the co-founder of calcium. Luana Lopez Lara 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. You would make some real money. He would

I think it's just trying to get that. Get rich quick. Let's see. Jamie put it into complexity. It says,

he built much of his public persona on false claims about his biography finances and identity. And later also face criminal charges tied to deception and fraud. Damn. He falsely claimed degrees from Beruk. Is that how you say it? Beruk College in New York and NYU. Even though, even saying graduated, summa come Laude, oh, he has no college degree. He's said he worked at Goldman Sachs and city group. Both firms reported no record of him as an employee. Find it. The

career set tells betrayed up suffice a seasoned Wall Street finance year and successful business man 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 that his grandparents were

all cost refugees. Later backing off saying he was Jewish 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. It's crazy. What a king. There's a bunch more animal rescue claims. He said he found that a nonprofit that rescued 2,500 cats and dogs, but reporters found no records of such an organization.

Cultural and lifestyle claims, Brazilian drag performer shared photos of sensors 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 what he's a funny dude. Back to jail. 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 he make off the bet? It's very fresh this story. I heard it on the news this

morning. Hold me. I don't think it says specifically how much because it was more about what he did. So I don't think they tracked his account. I don't think they've announced like how much he bet on it. And that is hard to track. Trace. Which is why I think he did it. Right. I mean those platforms are hard to trace. I think polymark it. I think they're specifically like even just in crypto on the back end. From that if I'm not mistaken or in those similar kind of exchanges.

So like it's hard to track. So it's a good place to insider trade and he made some money but

“I think I listen on the news this morning. I said four people close to him reported them now.”

Well, 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. Yeah. If they're they're turning them in, allegedly. I think it's funny though because it's like it's really unfortunate. He had a real opportunity. Like he became a public person. And he still does maybe we'll get another pardon. No.

You know, I doubt it. I doubt it'll give him a pardon. I don't know why I got the first one. He'd probably be

so mad if Trump got a phone call from him. Yeah. Hasking for a second pardon? Why do you get the first one? Do you know? I have no idea. Let's find out what's ask. Why do you get pardoned? There's a lot of people that got pardoned where you're like, wait, what? Yeah. The Biden thing was nuts where they pardon 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, that used to be disability, I was a starter. But 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 partis? And the preemptive partis too? Oh, those are nuts. How about for crimes that just don't exist? You know, you don't have been accused of anything. What you do? He did not receive a pardon. His prison sentence

was commuted by president Donald Trump, which led him out of prison early, but left his convictions in place. Interesting. In October 25th, October of 2025, rather, Trump signed a commutation with a former representative of George Santos, ordering his immediate release from federal prison where he was serving a roughly seven years sentence for fraud and identity theft. Commutation sortans or shortens or eliminates a punishment, but does not erase the conviction

and it spent long periods in solitary confinement, which Trump framed as too harsh for a rogue

“politician compared with others. Competitors 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, it just helped people

around you or your kids, whatever it is. Or a friend of a friend. Yeah, somebody. Yeah, somebody who looks up and you know them and their cousin needs a thing and there's a guy and maybe did it. Maybe he didn't. You can get him out. I mean, I'd part in a lot of people. I was part in a fuckload of people. Yeah, I get it. Well, we've on this 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”

Ike Perometer Center for Legal Justice or Criminal Justice. So it's all people that are wrongly convicted and there's a shit ton of them. And you find out that there's these rogue politicians or the rather prosecutors, these rogue prosecutors and rogue DAs 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 to

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 justify it in their head while he was a drug dealer or he was of this or he was of that and he fucked off his whole life. We're better off with him beating jail. Let me go to Morton's and have a steak. You take that and then you compare it with like every violent crime that has happened in Austin

this year. Our people that have been repeat criminals just let loose. Oh, yeah. 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, I'm not a fan of that. That's a different thing. You know, so you got both things, right? You have these very liberal DAs who are letting people go if they think that they're, you know, from protected class or if they've experienced racism

or they have experienced some sort of an unjust situation as a youth and they need a second chance

and the system is racist and so you let them 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 statistic, particularly about New York City that's something like 50% of all the crimes are by a very small number of people. Oh, yeah. The very small number of repeat people. And if those people weren't jail,

literally crime, you could have violent crime. Half robberies. Half 50%. It's crazy. I saw some people doing analysis of like the kind of content in news we were getting in 2015. But people that I watched and liked like the vlog brothers and stuff on YouTube where everything was about the prison industrial complex, which not saying is not a thing. It's certainly there'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. We're also in it was beyond soft on the 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 then everything 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 is 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, it's kind of crazy. Well, it's also you find out that 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

most liberal, the most progressive. The 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, his 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 was violent crimes. This guy pulled a knife on a sheriff. He was trying to attack a sheriff of the 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. That'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 these prosecutors doing this? Why are these DAs 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 it'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. It's 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 in your investment, you can fucking tank a city by having one insane DA. Like who's the guy in LA? They got rid of was it Garza,

“Zodazane? This guy was fucking out there. I mean, he was releasing all kinds of crazy criminals.”

And you're 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 and thousands of violent offenders. And he was sounding me alarm for it. Former gang leader. He's like, uh, this is too hot. We got to get out of here.

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in their Chibu fiale and of Chibu D.E. 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 so 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 any time. I mean my girl, we drive past a bus stop and we're just like

we never ride a bus here. Right. Because I've seen people

light up a meth pipe on Southal Mar on a bus stop and there's this 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 tinfoil hat and really trying 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 musk is on this but for me, I really think this is 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

more politically extreme than any other generation in the history of the United States and they've moved to the left. You know, 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 any one that's going to prison is,

you know, just for having weed or anything like that, we're just evil. It's a society. Right. And when you get that and you start more masturbating about everything, it sounds right. Like things like rank control. It sounds good. 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 one percent, 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, because, you know, music school and all that 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

“fund tests. Right. I'm sorry if I'm an 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's still doesn't account for who's funding the DA campaigns. And the fact that Soros does get involved in these kind of things, they're not just him, but others as well. I think he truly believes in it though. Like, this is the right thing. Like, we have a prison issue. No, no, I don't think so. I think he banks on it. I think, I mean, he's, he's made money off of collapsing society.

It's like he's of, of interesting character. He seems like completely immune to the consequences, like spiritually of what he does. Fair enough. Yeah. It's a flaw, mine I guess. I just assumed the words and told I see the best. So I just, that's not a flaw. That's your good person. Well, it's fucked me over a lot of times. But like, I mean, I, 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, they think it's going to have a positive outcome because you can justify 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 politicians 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, like his perspectives 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-plan speech about where the biggest tech sector, where number four

of the world or the world economy starts moving his hands around, he's got to look fuck a 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 we want to do. And you're starting to see him come closer to center now being opposed to the billionaire tax and other things that we have to tell everyone about and leaving. They're leaving, but a lot

of everyone running for governor on the left was okay with the billionaire tax, but since he's going to be in 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's by start with billionaires. It'll work. It's way down.

It'll work. It's way down 2000aires. Yeah. Taxes typically have. They always do. As soon as they

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, he's to rally against billionaires. It always be millionaires.

“All these millionaires are the problem. They're not paying them 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.

How do you think it gets enforced? How does it work? 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. Also the people with the guns. Oh, so you want a military dictator ship 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 never worked. 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 that they're 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 with communism is they think it's like Scandinavia.

“Okay. And socialism. That's how they define it. Not like very literal. And those are”

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 danger is children at 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're not living in the real world. Like your concepts about socialism 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 polling 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 in 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 just craziness that I was around. Even though I'm slightly, you know, have those left-wing social positions, I'm vitaminly against that woke 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 your feedback. I just want honest feedback on this." And I was like, "You know, it's 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 are 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. Right. You'd be fucked. You wouldn't have friends there. Exactly. So when the ratio is something like

500 to one in certain departments, you're never going to get an alternative viewpoint. So it

makes sense that it gets more extreme. Yeah. Doesn't even have to be 50/50, but 500 to one is crazy.

“200 to one is crazy. Even 50 to one. Yeah. First, well, it's something that 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.

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 the question that doesn't get asked to these people? One of 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, but people are no longer proposing it to go to good things. When you see it advocated online, now it's that person has a lot of money. Let's take some. Well, yes, exactly. And it's also very abstract. They should pay their first share. Shouldn't we figure out where the fucking money is 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 mom Donnie's standing in front of it, like, "Yes, crazy. This guy has a 250 million dollar. You're docking his fucking house." Crazy. Which is stupid because now he's just going to take all the wealth from New York and go down to Miami. I know, but it's a weird thing where some of these, you know, Democrats, socialists,

mayors. They don't seem to think that that's a problem. Like that lady in Seattle is like, "Well, if they leave, goodbye." Okay. Actually, like, my name is a person. I really disliked 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 to cross the river where Microsoft and everyone's building

new campuses. They're living in 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. All of a sudden you end up with that and how people are leaving and the modernity thing is also interesting because one of the things you said recently is that if they have bad landlords, they might take the house. Have you seen that? Yeah, which is like, "Okay, communism. You're going to capture real estate. The farm is spending too much money for a tomato. We're going to take over the farm." Like, this is North Korea. This is how it started.

Give us your farm. We'll feed everybody. Oh, great. I love to say that. I survived the courts, but it's a crazy idea that or even there. 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. Right. So then the units fall. I mean, the the percentage of units, I don't know, 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. And 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. Oh, doing? Yeah. Yeah. American building. I mean, 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, I mean, it makes sense. In places like Texas have banned people from China doing that. But it makes sense from a wealth preservation standpoint,

“but they had shitty for the residents of the city. So, I mean, I think I think could be fair for them”

to outlaw that they wanted to. So, no lyrics, counterperspective, though. Have you heard of it? 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. Right. But they pay the property taxes into the public services, so they're just a net contributor. 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. So, it's the whole reason why they invested in the property in the first place. Yeah. There's that one that I was looking at. They built this cookie-fucking tower that's like a popsicle stick. Have you ever seen that one? And it's waving

in the wind now. And it makes weird noises and no one wants to live in it. Uh-huh. I think some

“glass falls from it too, right? Yeah. Really? I think so. The one round of central park?”

Glass falls. I don't know. It's happened a few times. 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, the worry about it lifting because the wind is slowly rocking it back and forth, so it's fucking coming out of the ground.

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 going to be able to sell this. Yeah. 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. But 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 and runs for president on my show, the Pentagon hasn't passed an order in years. Even that alone. They're working on it.

The work on it for years, for going out to the decade. They've never passed a budget.

Never passed an audit. It's crazy. Like, that alone. I mean, that alone. And I know military is still, it's, what is it? 10 to 20 percent 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. Yeah. 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, 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 bit effective. It's been the opposite of effective. The homelessness increased during that time. Yeah. So you spend all that money and more people are homeless now than when you started. It's performing. It sounds good. It sounds good. It's all performative. It's also a hit about public. It's jobs. There's so many people that have jobs in non-profits

“and they make an extraordinary amount of money. Well, that's why they should look to Houston”

and set a non-profits is one central city-run organization and they've actually decreased homelessness with, like, a 10% of the budget per homeless person in the LA. But LA has all the network for every little corner of the homeless services. It's a network of different non-profits 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 to maintain the jobs like you said and not even reports certain data. This is a city organization actually held responsible by the people, by the voters, by the city council. This is one place where the money goes. It's not these endless non-profit jobs. The incentives are just misaligned across the board. Yeah. It's interesting that there are examples of cities that have done it well.

Austin had a real problem in 2020 and they did a great job in cleaning it up a little bit, but small city, you know, relatively. I'm so pretty rough downtown though. It gets rough. Listen man, I have a club on sixth street. I know I go there all the time and I almost get shanked. It's scary.

“It's a while. I think though the ones you get in, it's kind of exciting. Like, whoa, we made it.”

It adds to the show. I was, you know, I put my parents in a hotel, we went to the rooftop patio and it overlooked the alley right behind sixth 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 forced rehabilitation seems brutal, but the mental health places. Yeah. 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 sixth street is that sixth street is like this booming like bars and music and comedy. It's crazy.

And it's loud. Never is drinking. One block over is a homeless shelter. Yeah. So you got all these

people that are drug addicts and trying to stay clean, drink or 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 pulled the tents up, but you see those people they're all at the time. But imagine you're trying to stay clean and you're a block away from madness. It's the dumbest place to put them. Put them in the fucking country. Like you see squirrels and

here bird is chirp. Why 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 a

that as well. Yeah. And we just love it. It's a police station and they're doing drugs. Fucking crazy.

“It's nuts. Well, they're trying to do some things with sixth 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 act. The people do need help. But when homeless 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. Engage with themselves and others.

There's a dude constantly wielding a machete down there. That's always just twirling it. When I

had friends visiting other big podcasts, there's a took them down downtown. The first thing I saw in sixth street 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 today. 25% forever. It might not have 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 have an addiction. That's a mental health issue. There's 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. Like 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 a non-profits to make things better. They 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 were an actual private business, that was assigned a task of cleaning up the homeless issue. You wouldn't make any money if you

didn't do a good job. You would lose your business. If you had, if 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 non-profit, you can have a $700,000 a 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 across the housing, but a shelter or a room to put a homeless person that has started to get clean. In Houston,

cost a few hundred thousand dollars. It costs a million or more in California. That's as 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's very set on the housing first, which, again,

is the moral thing, a sounds moral and it really started to take off a couple of decades ago, where, okay, let's get someone into housing first and then try to get them clean because no one's going to get clean then housing. But Houston's been trying to, in Texas City, have been trying to do the opposite. And it's been working where we try to get people clean first and then get into that housing and get their lives set up. Because people have been going into

these places in LA that are multi-million dollars and trashing it. And they get like,

lore and stories off of them. Like, do those like building like chairs or something and then burn down his apartment in LA. 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 the political capture again. I don't know why we're willing to do something

for five, ten, fifteen years. See it doesn't work. And then just say we have to keep doing 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 all just gets this feedback loop where 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 pulled younger people are more okay with violence against people on the other side of the political aisle for them. Which is a very scary place to go. Yeah. It's very scary. Especially when I see death threats all the time

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 on all this stuff. It's crazy. So you get threats for 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 roast. Consentual, consentual, like I call a fat bitch of 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 for you. It is very nice. But that's because we try to run,

you know, a moral consentual show, all that good stuff. But I love to roast people and just call out their features and just dump 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 spend too much money on cars. We 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 don't remember. It's something like that. It's kind of crazy because”

Americans spend too much money on cars. Maybe sells cars. Maybe, but objectively we do check his profile is it a real person? It says San Antonio. That's all I know. That's all I know. I'm sure it was like could be a bottom. Second profile. He was he was responding to it. He was excited. You know, he got as a crazy person. Yeah. Yeah. And we get emails all the time. No people people think of me, because they say I don't talk about the issues that let 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 aware 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 health cares 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 one out, but for spending $1,000 a month, which is very normal for a person on my show. Going out to eat, you're right. You can't get apartment of your dreams. When 1,000 hours a month is going to make Donald's and other places. Cooking at homes becomes 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 it said, "Oh, young people are broke because they spent $28 going out to eat." Well, it's not that specifically only, but it's the death of a thousand cuts. And yes, just $28, three times a week becomes an actual halfway 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 as they shouldn't be able to eat. 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 and the 50s and whatever, you know, they were like the size of this room that we're in right now mass produced. Okay, that's still a home that's great. 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 ACed office. Like it's hard for me to sympathize with that, especially when I filmed three of them a week. All 100% real people

mostly Gen Z and Millennials who are absolute victims in everything. They are victims and everything. They think 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 of a sudden cars two years ago were the most dangerous things. They have to get a 60 to 70,000-hour car loan at a 20% interest rate or else their kids will die. We've actually had their conversation with every thing 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 or 2023, 2022 cars would literally go on the highway and blow up. Like I don't understand. They insist that if they don't get a brand new car, that is it is not a safe car. That is an argument every time with Americans. The $1.6 trillion or sort of $1.5 trillion in car loan debt. So do you think that's just a lack of education? Because like a car from 2020 is just

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 porches and electric outies in particular, fucking nobody wants a man. Nobody wants the use ones and they're still great. Oh yeah. Okay, 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%. So there's certain cars where you buy”

them and they're worth as much a couple years later. Like a nice BMW or 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 dollars. 2023 Audi E-Tron. 27,000 dollars.

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 quadro. 27,000 dollars. It only has 37,000 miles on it. Those things don't have engines. Like a combustion engine. They don't have nearly the kind of maintenance that a regular car does. You don't have to change the oil. Just plug that bitch in. You have a fucking

“amazing car. You're the battery range. I'm just not belong. That's the excuse they use.”

20, 26 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 does the Model S have? Three, four. I can understand this argument. This person might not have anywhere than to charge it. That's an issue. They're so easy to get in your house now. Yeah, but 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, I'd have to do it every single day.

Everything. Every day. That's true. And how long does it take to charge up one of those bitches 30 to 45 minutes? So you'd have 30, 40 minutes every day. That's fair enough. That's fair. Well, I'm 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. Why is it because I'm always in here? Yeah. So when they never with a fucking car. Oh, it's gonna keep it plugged in. I don't know who it is. You can call them and flatten their tires. Don't do that. I'm just kidding. But I try to think of options right into. Because there's even the options of the place you work. I have one right outside my building. There's where we film is multiple car charging places. Park in. You got to work. So I'm not saying

everyone can do it. But if you can do it, it's a great option. But even though you can get used, use the gas cars for relatively similar, but they will defend to the death on my show. Having to get a $60,000 large SUV and an insane interest rate for an eight-year loan, eight-year term, crazy. But no, you ask me why are they 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 house and car. Your failure if you don't get a house, your failure if you don't get a car. Yeah. 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 a vehicle. So it's 20-26. Yeah. Look at these new features. It's fun. Apple CarPlay. And people actually care what the person next to them thinks is the stuff like for some reason. I don't know why. Yeah,

that's a weird one. That's a weird one, but we do. And we especially do when we're not doing that well. So you want like every single sign that shows that you're doing well. You know, a nice watch and nice this and nice that, a bag, whatever it is, whatever it is that you need like a reward for this job that sucks. Yeah, oftentimes the poorest people I know are the ones that have more souped up nicer cars. Yeah. And then they have a shitty place to live. But they prioritize

that because it's a wealth symbol. It looks good. Yeah. 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. So I'm happy. Those are great. That's it. They stopped making them. I know it's really sad. They stopped making the S2. 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 optimist 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 phenomenal car. I think. Adances. Tiffany Hadish has won and she was in the parking lot of the Commissar and the wings go up. You know, it starts dancing. It moves around like this is crazy. Like it actually moves to music. Now that I have one of the last ones ever made, I honestly block man. I really don't know. I don't want another car. It's actually really sad.

Well, he told me, Elon told me that it's super over-engineered. He's like the cars incredible.

It's like one of the safest cars you can ever drive. Well, I guess this last one I'll ever get. It's a bummer. 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. Yeah. Does anybody go, hey, 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 a 2026? People are very defensive on the show. I can convince them a 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 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 a big one.

I told people to not get a house and they're really close to 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 has some P500 and it just beats real estate. Commercial real estate is good to get for tax advantages, but the American dream is in 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, it requires a massive amount of money for a down payment. And it's just a lack of flexibility in a generation and 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 of 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 for a mortgage, you'll win every time. And then you get stuck. Let's say you got the good interest rate. Everyone with a 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 towing it. But it is not that actually incredible financial thing

“that has defined America. That being said, American socket investing. So if 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 a vacation and 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 the home. They don't feel like settled. This is not really my place. I'm just

printing it. Yeah, which is true. But I mean, I just told them to fuck off. That's your feelings. Yeah. I mean, that is just their feelings. Right. 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. Right. And that's okay. In renting you don't have to do maintenance. You don't have to get a new roof. You don't have to, you know, do what the AC going out on all the

stuff. If you're renting for, especially even like large corporations, they're actually even better to rent for than a mom and Pa because they'll have someone on standby that'll fix your shit overnight or a mom and Pa landlord, you know, kind of sucks. It might take a couple of weeks. Right. If they're not good. Yeah. 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 you know, 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 job's going to go away? And then there's those that say, it's going to

create a shit ton of new jobs. And I'll listen to you. 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 trades very smart.

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 well-divided

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 99% very similar. But what we see oftentimes, and I feel bad for the women my age with this, is statistically them, they've gone in got lower pain degrees. And now a 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 borrowed 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 parista, or if you are going to get a job it's used to your lower

pain job, where men have gone, we've fallen, this thing in our society, where men have always

tried to go to that higher income side and give up a job they like for it. So they'll go in the engineering, the math, 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 gaps 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'll allow for therapist, but it's getting that pretty quick,

people are willing to trust AI way more than we thought. And these psychology degrees and whatnot, writing degrees, things that, unfortunately, that large sector has gotten, it's their 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 it the UN? One 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 and 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, 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 thought, I have to take leak. Yeah, you're good. So one question that I have for you is, because you got a degree that's not really a good degree financially out. Yeah, well, but close, 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 and sociology, get these degrees and gender studies, get these degrees,

and things that where you're, 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 am for that. But once they got there, just, uh, fuck, why they're doing it, it's harder to say, but they definitely do more gravitate as a cohort towards those lower paying degrees like psychology and whatnot. And I don't, men just go to the higher paying degrees. I don't, if it's just 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, the need to be a provider”

and the thinking like these low paying jobs are not going to be able to give me any money. Yeah. How am I going to provide? How am I going to have a family? How am I going to pay the bills?

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. Some of them are per cent, really. 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, um, 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 causing that? What's causing that? Well, the, hmm, 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 D.I. specifically

was preventing them from going to work, preventing them from going to school. The 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 recaptured. 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. It's easier to just kind of sit at moms 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, the young

women just being so anti men and young men being so anti women, ensuring against each other,

it's horrible. It is horrible. Like 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 man, no dating, no sex. There was a term for it, but they were just 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 as 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 know, you need to have a villain and the”

manner of the villain or the women of the villain. The women of 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, you know, keeping us in the kitchen and everything like that. The four B movement. Yes. Women boycotting men. Anti men movement. Four B movement is a radical feminist rebellion that emerged around 2015. It's named after four Korean terms starting with

B eye, meaning no. Be-hone, no heterosexual marriage. Be-cholson, no childbirth. Beyond A, no dating men. Be-seq, no sexual relations with men. Okay. Participants argued this is not about misandry, 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 it picked up some pretty big steam here in the United States after 2016.

But I got to think that everyone who's 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 rate, 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 and I'm like, "What's happening?”

You don't get horny?" What do you do? It's interesting. You don't like people? There are 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, they blame each other. Like, okay, Trump got elected. Many of the women in this country that lean to the left didn't like it. So they got very upset.

They blame the men for electing him. Men blame women, you know, DIY 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 where it's 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's been 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

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 capture it in these like fucking stupid echo chambers. It 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 complaining

is exciting. People do love to complain. Yeah. It's exciting to you. It gets you going. Fuckin'

“"Dif*ckin' me." 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 an octopus is 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 insell gamers throwing a fit.

So they have an insell problem in Korea too. A lot of, and also low replacement rate. Like, where's in the world? Yeah. Korea is really bad. Is it the worst? It's worse than the world. The total collapse within a few decades, yeah. Right into the century. Oh, yeah. South Korea is done. But no, it's true. And like I said, 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, then to something like the 4B movement, no one should be fired from wearing a dress or like in a post. Right. You know, it's crazy. But to become radicalized and start this thing, where it divides the genders, because we have more political division 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 when you say political division, so is it that young men are going to the right and young women are going to the left? Is that what it is? Yeah, when you do, when they've done tracking and pulling 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 millennial or gen X or boomer,

women especially, but Gen Z women have moved very far to the left. And what are 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 recognizing that there's real safety issues, there's real crime issues, they're wondering where their tax money goes, the sea 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, as soon as they have children, then they start going, hey, fuck this place. You know, there's 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. But 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 this has gone off a cliff. That's why we need an immigrant. Well, I mean,”

actually, yes. Well, we do need some immigration to like, because we need a growing population, because you don't want to be like South Korea or Japan. Right. You can't have a collapsing population because you use the argument, sorry, not you, but people could use the argument, they'll destroy our culture if we let it all these immigrants. And yes, of course, that would happen if you just let anyone in no matter what uncontrolled, sure, which also 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 and whatnot. So I think that's fair, open borders is fucking crazy. I don't know what was going on. I don't know. I didn't even realize

what was going on. It's nuts. I have friends that were down there. They went to the border and

“they said you have to come to understand it. You have to see it. It's fucking insane. Like you see”

the numbers of people come across like how is this real? Yeah. They just know betting right into

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Nubis Tomakse. 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 for sure. 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 the 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, well, the United States is like, it's like five or ten to one. It's going to the wrong direction. And if 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 gotta bring some people in, but selective, high-skilled.

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 they're born there, typically, or they even have a great there. And they become very educated. They're the ones that are going to contribute to the tax base, create jobs, do higher-skilled jobs, great doctors, everything's like that.

But they look around them. The economic policies have 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 L.A. right now with the wealth-flight and brain drain. Though the net migration L.A. 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 L.A.

“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 50 first out of all 50 states, by the way, in terms of GDP per capita, which is absolutely crazy, worse than Mississippi. And then if you're having immigration while that's happening, all you have left is just that. Just that. And all your high-skilled people went somewhere else. Same things happening in Canada. They become educated in Canada and 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 L.A. and their budget's not looking really good. It's interesting how pragmatic financial discussions are problematic. Like people don't like it and they look at it and like you're just, you're not talking really even about politics. You're just talking about pragmatic decisions in terms of like how do you invest your money, how to save your money, how to do that. That

becomes right wing. Oh yeah, that becomes somehow another cruel. It's like categorized in that way as heartless. Yeah, people will clip that last moment and say I'm anti-immigrants. Like that's gonna happen. Yeah, but it's not. It's this literal economic theory that we're seeing in the real world right now that's tracked and trackable. The labor party acknowledges the left wing labor party in the United Kingdom acknowledges the wealth-flight 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 discussions finances, someone who's like very financially used to, it gives pragmatic advice. That's a conservative person. It's a bad person. They do think so. They say I'm right-wing coded. Something I code see a lot. White-wing coded or my vibe is off. Well, 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 on to 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 fascist. There's a large group of people that want people like me or Dave

and they're in the first place. Right. 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. But that'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. Okay. So the average person can actually budget and take some personal responsibility instead of just falling on the victim mindset. So with 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.”

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 end to make a shit ton of money. But both the both of works pretty well. But yes. 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 hey, if they make more money because they save money and I make more money, that's capitalists. It's a value. Yeah. Exactly.

You're providing a value. No. I mean, that's the point. Like, I used... Did you ever use mint? No. You remember mint? Okay. So there's a big budget in 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 burdensome. That 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 need to do to change. So that's what we focus on when we, you know, engineered this thing.”

And so when you're having all these conversations with all these different people that are 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, it's not going to work.

Two certain extent, yes. Luckily in the United States, we have some tools that help. So if someone's in that situation where the dam's about the burst, everything's about to just 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

were 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 loans,

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 beatably 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 and 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 change in their behavior, they build the credit cards back to here. So now you have double the debt. That's the issue with that consolidation so not changing the behavior. So his philosophies correct. But what we tried to teach people on my show is that changed 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 in the same thing applies for bankruptcy. So that's why our show's simple stuff. It just fix the spending. You get it under control. You 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. It 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

you. 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 the 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've seen what it's like on the other side. Just like many people in your position to see 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. But 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, I went over the fuck I'm doing right now. It's not 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 prod. We'll get Jeff Bezos and his fucking yacht. Like 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 you do that? How can I do that?”

I want your yacht. 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 and 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. There's no place better. You could 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're not pursuing that. And so then they're even more bitter because they're spending time doing this job at the hate which sucks. They think it's taking away

if 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 is in fair. Now what? Right. It is what it is. Like it is. Okay. So accept that. What are you going to sit on it and cry? Like that's the only option, right? Is that or do something? Well 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-coded 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. Yeah. The system based doesn'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 in personal responsibility. You are not the disabled person that actually does not have agency. Right. Because there are people that

“don't. Right. You're not that. Right. Yeah, it's so important to say. And I think 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? And 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 you explain to them what the steps that they can take. You know, and that's the correct. The fucking crazy thing is they're not getting this from school. Schools 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 counselors there because I remember being in school in high school and the student counselor I met with

that that's all they cared about. And 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 oil change. I don't why does 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 tip 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. What 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's 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, like '65, '66. He'd like 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. He'd explain it to you. It'd 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 poem? Where's the lift points on the bottom of the frame? Yeah. And home at

classes, too. Yeah. This would be a big thing. Teach you how to 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. 780s and 80s budget cuts. Major tax revolts such as California's Proposition 13 in 1978 decimated public school budgets, because maintaining workshops buying heavy machinery and securing

liability insurance were expensive. Shop programs became easy targets for elimination. 1990s 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, earlier on the shows, very important, is like trades might be”

the only secure pathway becoming a carburetor, becoming an electrician, heating and ventilation. 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. Like you can make some real fucking money. Absolutely. And even things like apprenticeships. If you get into apprenticeships, you have a 90% chance of being retained to a full-time position. Get into apprenticeships.

Yeah. Like, I know just like little fat dude with some soft hands, but it's okay to do, you know, those are good jobs. They're good pain jobs. They're good career position jobs. They are. And if you want a good job. And it's also 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, he's a plumber. Well, fuck does he know. But I'm country works. Like, I'm sorry. Some of the wealthiest people in our country that have built the largest companies are college dropouts. That's true. Like, 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 the degree. There's good degrees. There really are, but it's getting harder and harder to just respect that 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 a 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. Yeah. Just with audiobooks, just with YouTube, just with, I mean, 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 forced

debt and saying them out of money, because you're spending more money for that education,

then you're going to spend on anything else when you're fucking 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 that kind of, like, what is, how much, like, let's, what's

“Harvard a year right now? How much per year is Harvard? Was it 50, 60? Wait more than that?”

It depends if you're in stay-now stay-two. What's student loan balances, people borrow on average ranges from 25 to 40,000 dollars for just an 18 year old assignment way. Not. So through their four-year degree, it's crazy. It's crazy. And it's all administrative blood now, too. Yeah. It's not even going to anything. It's also subsidized. Like, the whole thing

is gross. 62 for undergrad. $62,000 dollars a year. What else are you spending? $62,000 a year on?

That's right. Now, imagine, what's that, Jimmy? It's without fees. Including housing, health fees, and student services. I'll tell you. 87. Including housing, health fees and student services coming to approximately 86 to 95,000 dollars before financial aid. So with housing, health fees, and human services, it could get to 95,000 dollars a year. That's fucking crazy. And if you go through that, you get a degree in gender studies. Yes. That's wild. Now, for a fact, there's a $62,000

car out there. Well, 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 a college degree. So it is 10 years. New York Times, 1983 about that's titled 1980s grads, baby boom to job bust. 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 daydreams and settle for jobs. It's not required to agree 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. You know, look at that. Look at the go back to that. It says, yeah, the Federal Bureau of Labor Statistics is 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. They was like overwhelmingly, they wanted to be famous. Yeah. I mean, we're in the world of influxers and makes sense. Everyone's trying to be a tech talker. Well, everyone's also want to do what you're doing. Yeah. You're in 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. It's 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 can 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 that are like, let me just quit my job all the morning and start recording some videos. Like you're more on your gunna fail at that. Yeah. I was to teach it. 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 to tech company. Did you hate it? Kind of. Actually, yeah, that's why I”

started applying for other jobs in a YouTuber almost hired me. Then he didn't. So I did it myself. Oh, this is kind of the path. So what was the job that you were going to get hard for the YouTuber? Do you know Tyler Olivera? No. Oh, you've probably seen his clips. He runs around and like records like, oh, look at all these Indians in Frisco. That kind of stuff. 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 be a YouTuber. You decided I'm going to just go and do it myself. Yeah, I just recorded an order a bunch of equipment and set up something and started recording financial audit because it was a show I wanted to see, but it didn't exist yet. So I decided to make it myself. Well, so no background at all in entertainment. Nothing. No, I was like making

“stuff like making music. That's why I went to college, making YouTube videos with friends and”

high school. But in an ideal world, would you be making music? No, I'm way richer than what is that would be better than the actual music. You know, this is so much more fun because

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 wing coded. And 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 beer with them. But they they kick you out. Wow. Yeah. It's pretty toxic. But, um, no, I mean,

for fun, I write a little on the side. But my passion is this thing. Do you perform music or

you just write it? I used to play trombone, but it was mostly writing at that was the passion. But my passion is building my business now. 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 a hundred thousand people to our 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 a $10 a month and they get access to we put on three premium shows that mean 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 fanfatter. 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 they're just these really cool fun things that engage with the community and they they love supporting it. So almost a hundred ten thousand people a month

subscribed to that, which is really cool. That's amazing. Yeah. And then the the budgeting

app dollar wise 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 it's much more fun. That's very interesting. So so you're doing that. You got the dollar wise app. You have this YouTube thing where people can subscribe. So but you seem like you've got some

plans to build out and take this even further. Oh yeah. We want to scale this budgeting app like 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. I, you know, 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.

Yeah. And we found a way to make it interesting and entertaining. I'd love to help some other people launch their stuff. And then like the personal financial tools. Similar to like 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 like to have

a resource like that where there's someone who doesn't have a boring, stale sort of perspective. They could teach you how to budget yourself and how to like take your money and invest it. And then I'm sure there's a ton of online platforms that show you how to cook. I can show you how to shop, how to what, you know, I can save money by growing to 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, I'm so like it's like it's a beautiful time for young people if they access these things. I'm just saying that like for 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, like 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 you in case of layoffs or just losing

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 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. Okay. 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 fuck up their house is financially and emergency happens. A 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. And then 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 the three months. Then have a little bit of fun. Well, you're saving to six. Just 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. Half a rainy day for an actual emergency is terrifying. Yeah. So now what are

your thoughts on 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 mean, I like it in general. Have we hit the full bubble and pull back? I wonder. Well, it's the crypto outside of Bitcoin gets very odd. Like meme coins. And you know, I'm heavily invested in Melania coin. I don't know. Okay. Not personally. Not kidding. Not in my

portfolio. But there's like things like that where like what's going on? Like who who's putting their money into the hawk to a coin? Yes. You know what I mean? It's like this is it's a very weird gambling thing we're doing. It's like a legal pyramid scheme. Yes, exactly. And it's mostly just used by

“people for a get rich quick real quick. I don't even know she made money. I think she got fucked in her”

reputation got destroyed. Like people hated her angry at her afterwards. And she gets like 5,000 views of video now. It's pretty brutal. I think she got sucked into this idea. You know, somehow another dose going to be okay. And they're 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. Yeah. No, no, I didn't six months. Right. So, but that was one where I was like, what are they trying to sell? And how are so many people buying it? No. Well, if you can't 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 dump. Yeah. 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 85 or 15% win. Only 15% win day trading. Really? It's just hard than you think. Yeah. Wait a minute. So 85% lose a day trading. Yeah. It's actual like day trading like interday trading. It's brutal. Holy shit. Those pumping 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 like Ethereum or Bitcoin. And it's actually being utilized. Isn't it? Are these meme coins also a good way to laundry money? Oh, well, well, I'm actually that's interesting. I bad. I wouldn't be surprised. So it's certainly distribute money to people. Sure. Like if you made a Caleb coin. Yeah. And I

said, okay. What do you think? I got an idea. 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 do anyway. And now you've got that money. And now we're going to work together to do something else. Yeah. No, it's crazy. 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 pump.fun. Really?”

Pump. Fun. Something like that. You can make a coin. You can invest a coin. 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 it's, this is the wild west of unregulated currency. And my fear is people are going to eventually wind up being stuck in a centralized digital

And, you know, okay. That's scary. That's scary. That's the scary thought. Further down to scary path. Well, people have actually proposed that 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 plain tickets or if you're not,

if you're problematic, you've done some things. That's crazy. Yeah. But that's where all this

“control goes to. Sure. It definitely goes to like, what's the best way to control people”

completely eliminate their ability to spend money. Lock the money. People smoke math on the trains. You know, we have a racist system, Caleb, and all of these people have been victimized

from the time they're young. Yeah. It's, you know, I've always said that if you want to make

America great, really what you got to do is have less losers. So, figure out what's going on, like why there's so many people that are homeless, why are there so many people that are locked into these crime-infested neighborhoods and gang-infested neighborhoods. And this cycle competes 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. No politicians ever bring it up.

It's never 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 49th? I think they were 50th until recently. Oh, God. Yeah. No, it's not great. But an incredible

type of boom in one not. But when the incentives are, you know, easy to manipulate and take advantage of. What percentage of people in California unemployed? I don't know. Let's find that out. Well, it's 48 now. What are you looking for? 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. And many of the young men are not doing anything. And how do they make you money? I don't know.

Parents. I don't know. It's pretty pathetic. I'll be honest. You 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 I come in on here. And I was reading through Bureau of Labor Statistics or Gallipole, that 40% of people aged 18 to 29 regularly receive help from family and relatives. Wow. Which is an incredible percentage of that age group. That's scary. Yeah. Again, the incentive is like,

I don't know. I don't know. When I was 18, I'm not even though I'm 31. But when I was 18, I was so excited to go out there and be independent and be on my own. That was everything. I was so excited to make my way in this world. Right. I wouldn't want to reach. I wouldn't want to reach on any

“system. But maybe that's why I'm successful. I don't know. Maybe I am. That definitely has a fact.”

It's 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. And it's, I don't think we should, 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. That 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 like a family that's on hard times. It's down there like 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 a part of it. But you also have to teach people how to not be vulnerable.

“You know, I think that's a great part of what you provide. How does this 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. But that's also probably why a lot of people are unemployed. Yeah. I mean, those that get a job have it great. I mean, same thing happens in places like France where they have aggressive unemployment.

But if you get a job there with the vacation policies and worker rights, it's like the best thing on the world. It's incredible. Like even in Poland, which is one of the more capitalistic

Yeah. Like you have to let the employee you fired work for you for a couple of months, though.

I guess it's pretty brittle. So that's 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 is going to perform when he has to get paid. And he's there for

“two months. And you have to deal with this disgruntled asshole kicking around the office.”

Yeah. So that's what I'm talking about when I'm talking about performative policies. It's nice. It sounds good. I don't morally 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. How comes there never track there are not what matters. That outcome is

48th and unemployment. That's the actual outcome. You are 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 now 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 and talk about money and talk about jobs. It's just not sexy. They just don't

enjoy it. Yeah, for sure. You know, 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.”

It's that people do need to hear what the consequences are for fucking up with the consequences.

And that there's a path forward that you can actually fix your fucking situation. Everyone, we are so lenient in this country with our bank ropes, your protection laws. It's crazy. We are, if there is a place to escape a bad financial situation or end, 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 and you know what's so stupid. This is what pisses me off because I have people talk to me about it all the time. They say the student loan system is fucked in 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

garbage my way just because it went into the 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 is 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 come out 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 and creating like southern schools? Have I think in Alabama, African lazy river on their campus? It's a recruitment tool. They do that. If you can borrow

more money, they will charge more money. Was this a gentleman? You can technically get your student lungs discharged via bankruptcies. There's just a few different ways to do that. But it's not automatic. It takes extra steps and proof of undo hardship. What is that? How do they define undo hardship? Well, you've got to go to a judge. So like maybe if you got paralyzed. I 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 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 like this new avenue where you're entertaining, but you're talking about finances and giving people like really good advice, like sound advice. And if you don't follow your advice, like 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 figured 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. Dallow wise. Dallow wise. From the App Store, Android as well, so anything. And your YouTube channel is Caleb Hammer. Just straight up and then Instagram all that stuff.