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It’s Rush To Reason, with your host, John Rush. Presented by Hi5 Plumbing, Heating and Cooling, where every call ends with a high five.
All right, we are back. Our three Rush To Reason, Denver’s Afternoon Rush, Klz560. Britt Riley joining us now.
She is mom and founder of Haven. Welcome Britt, how are you?
Hi, I’m great. How are you doing?
I’m very well. All right, talk to us about Haven. What is it?
So Haven is a network of modern day care for families. So we provide fully licensed child care, as well as work space and fitness for the parents.
Okay, so mom or dad have younger kids, they need help in that particular area, not able to actually go to school yet. This is where you guys come in and fill in the gap. Is that what I’m hearing?
Yes, yep. They can drop off downstairs, they can come and go as they please from the campus or from the building. And then upstairs at all of our locations, we have private and shared work space, as well as fully equipped gyms, so coloton bikes and treadmills and everything.
And then they have the opportunity to to look out the window, watch their kids playing, feel connected with them. And it’s our effort to try and provide more value to families. We know how much of an investment the first five years is.
Very much so. And as you know, for a lot of families, they don’t have a ton of options when it comes to this. So I guess, first of all, what gave you this vision or this idea to do this in the first place?
Necessity is the mother of invention. I heard it somewhere, and that is exactly how this came about. So I have two daughters.
They are now seven and eight, but they were one and an infant when I had the idea to do this.
Okay.
Just looking at all of the options and looking at what was out there, and the state of the child care industry stood out to me as one which had not evolved with the needs of today’s workforce and the needs of today’s families and parents. It truly did boggle my mind how it had not quite kept up with all of the different advancements that we’ve had happen over the decades. So it hit me that I couldn’t solve for the price of child care, because really that all revolves around the child caregivers who you employ and paying them.
But what I could solve for was being able to support families to hopefully enable them to remain in a workforce, to increase and to help them with their mental health during the first five years, and then to also ensure that they’re taking care of themselves, they’re taking care of their family, and they’re feeling good about it when they go home at night.
I also see on your website that you do some things for teen parents, which, by the way, thank you for doing that, because you’re giving teenagers that, you know, it happens, kids end up, sorry, I call them kids. I’m an old guy, and I’ve raised many a kid in my day. My youngest is 32, so I can call these kids kids because they are to me.
But these young kids have kids, or they’re having kids, and in a lot of cases really have nowhere to turn. They don’t know what to do, but you guys are giving them a choice in this, correct?
We’ll welcome anyone, anyone who needs our support, absolutely.
Well, thank you, by the way, for doing that. Okay, where are you, and you guys are in our, in our local area here in the Colorado area. Where are you and how do folks get a hold of you?
So we’re not yet in the Colorado area. We are expanding quite rapidly.
Okay.
We should be there soon, that’s for sure.
Okay, all right.
But right now, they would visit yourhavenlife.com. You can certainly request a location as well, all over.
And I apologize, I was confused. I thought you guys had a Colorado location. How soon do you think you’ll be here?
Well, so hopefully within the next 12 months or so.
Okay.
There’s a huge, huge amount of demand. We get inquiries all the time from people, certainly in the Colorado area and Denver and the surrounding areas.
I can imagine this is, as you know, this is, well, you know, because you’re doing this is a huge need that folks have. What do you feel in this particular area when it comes to, you know, the whole childcare thing? What do you feel?
And you got into this for a reason. What do you feel it lacked mostly in the beginning and probably still lacks today?
What it lacks as an industry truly to me feels like support from external support. And I mean that in a couple of ways. One way is when I got into this, my background was not childcare.
I was a chief marketing officer. And so when I did get into this, it was a learning curve for me and surrounding ourselves with people who truly were born to take care of other people’s children. They were born with this inclination towards being a preschool teacher or being an early childhood caregiver.
And that is something which I feel like you are born with that. It is something which, you know, your parents taking care of other people’s kids is a major commitment, you know, and there are people who are absolutely wonderful. And you can tell that they’re totally born to do it.
So one thing which I noticed very, very quickly when we started going down the path to open our doors was our society by and large really does not hold early childhood caregivers up on the pedestal that they truly belong on. And I believe that that has contributed in a very big way to the lack of expansion of the child care industry itself, because at the end of the day, yes, it takes funds, but it also takes people and it’s always going to take people. And so because the industry hasn’t evolved, and because it hasn’t gained the support that it has, that it truly needs from public and private sector, it’s been extremely hard for the industry to keep up with wage demand.
And which has made it suffer in a very big way. And so that is what it lacked, absolutely. Is, I think of early childhood caregivers as on par with brain surgeons, except for they’re not doing work after something’s broken, they’re building it.
You know, the first 90% of your brain is formed, your confidence, your sense of security, your sense of nurture, and all of these things are developed during your first three to five years. That’s one of the absolute most critical times in any child’s life. And for some reason, we haven’t recognized the people who do the work to provide that, or the actual industry which does.
And so it struggles.
Yep. I can’t argue with anything you just said again. After raising lots of kids myself, understanding everything you’re talking about.
And I also realize that I’ve been self-employed, you know, really my whole adult life. And when you’re self-employed, as you know, you need folks like you to come alongside because when you’re running the business and trying to raise a family and do all of the same time, you need caregivers like what you guys are providing to make that happen because we didn’t have any choice but to both work. It just is the way it is when you’re starting a business.
It is that. I mean, you don’t have a choice. It is what it is, Britt.
Without a doubt. And I think that that’s one of the things which has become pretty normal. I mean, there are generations, when you look at the past 100 years, it’s fairly recently, but that it’s become standard for most households, just expect to be dual-income households.
I mean, your people are getting married, well after they’ve gone through high school or their education, it’s not something which happens right after school anymore. Everything is kind of, it’s happening in a much more intentional manner. And I think that people, when they, they’re setting their lives up around the idea and the need for a dual income household.
So we need to be able to provide a solution for that. And absolutely not everybody has, you know, a parent or a grandparent or a…
That’s right…
.on or uncle or a support network around them to help them. And so for… it’s infrastructure.
I mean, when you think about it, it truly is infrastructure for our economy to be able to thrive. And yeah, it definitely is.
Well, really quick again, for folks listening so they can keep tabs on you guys and when you actually come to Colorado, what’s your website again?
It’s yourhavenlife.com.
Perfect. I’ll put that in my notes. That way folks can follow along with you guys.
Currently, you’re back east, but you’re looking at coming out, basically looking at franchising and adding more locations is what you’re trying to do now, Britt. Is that correct?
Yes, we are. We’re launching our franchising program right now.
Awesome. So for those of you interested potentially in being a part of all of this, I would recommend you go to the website, check it out, send Britt a note. You guys can handle the rest.
And as you guys start to expand and come out this direction, please let me know. We’ll get you back on air. And Britt, I appreciate what you’re doing.
It’s much needed, I believe wholeheartedly. Again, after being down this path on my own and have now young grandkids in this same mode, I understand fully what you’re talking about, believe me.
Yeah, absolutely, without a doubt. And it’s my pleasure. It’s been the gift of my life to be able to do this work.
Well, I appreciate it very much. Keep doing the great work and we’ll have you back. Thank you, Britt, very much.
Thank you. Have a good one.
Have a great night. And that’s Britt Riley. And again, it’s yourhavenlife.com.
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This is Rush To Reason on KLZ560.
All right, we are back. Rush To Reason, Denver’s Afternoon Rush, Klz560. Joe, what’s going on?
John, I don’t know if you had a chance to listen to Bob Duko’s commentary at the top of the hour.
I know, I’m always doing something else. I did not.
Well, what he talked about was, he said, how, you know, Vance said something, it’s some insignificant thing in an interview, and the media blew it up and blew it all over. And that kind of, when I got an email the other day about my podcast, and the guy said, how come you’re always playing this, you know, stuff that Harris says and never play anything that Trump says, stupid stuff that Trump says? And then it dawned on me, what you and I do, the reason I never play anything stupid stuff that Trump says, and he says some really stupid stuff, is that when he says it, all the network’s covered.
Yeah, I don’t have to.
You don’t have to.
It’s already out there.
It’s already out there. When Harris says something stupid, outrageous, or she’s hypocritical, she’s telling too different, you’ll never hear it on the media.
And also too, I want to make sure that folks that are on that side of the aisle understand this as well. While Trump does say some things that can be outlandish and so on, the reality is, Joe, the ratio from one to the other, it’s not even comparable. As much as I don’t agree with Donald Trump and some of the outlandish things he says, it still doesn’t compare to what the other side says.
Right. And so, John, what you and I do, you do it on air, I do it on my podcast, is that, you know, I call it news in perspective you won’t hear on TV. That’s the subtitle of my podcast.
Because I talk about the things that you won’t hear. If I talked about, you know, some of the Trump, Trump will exaggerate, tell a fib. If I tell you that, you’ve already heard it.
So, again, the subtitle of my podcast is News in Perspective You Won’t Hear on TV. Because they’ll never tell you the things. And by the way, every week, Kamala Harris is a gold mine in terms of stupid things, outrageous things, hypocritical things.
She’s an absolute gold mine.
I mean, Joe, just during the debate, yeah, I mean, I probably wouldn’t have said anything about the cats and the dogs, although there’s even been some reports out on that, that he’s not probably as far out there as some would say that he is. There’s even been some eyewitness reports on the ground from that area talking about how, no, he’s probably not far off. I would not have gone down that path and said it.
On the same token, Joe, she says things as stupid as, there’s not one woman in the United States of America getting a late term abortion. I mean, that’s an out and out lie.
It is an out and out lie. And the other day, I played a clip on my podcast. It’s at two clips side by side.
In the first clip, she’s talking about five or six young people, all college age, outside her tour bus. I guess they’re part of her local city camp. And she’s telling me how you’re smart, you’re leader, you’re the future of this country.
And then you cut to a speech where she’s giving to this audience, where she’s telling how stupid 18 to 24-year-old people are. I mean, she’s literally, and she goes into detail how stupid they are and why they’re stupid. So, you know, is she a hypocrite?
Was she lying to the young people or was she lying to the audience? Now, you’ll never hear that, those two statements side by side on the evening news. In fact, you may hear the first one where she was complimenting the young people.
I guarantee you, you’ll never hear the clip on TV where she was telling the audience how stupid 18 to 24-year-olds are.
Right. Then there was 21 things, by the way, Breitbart put this out about things that Kamala said during the debate, some of those being the false claims on the Trump trade deficit, the fact that Trump says that Putin can do whatever the hell that he wants, the dictator comments. I mean, there’s so many things that she said during that debate that she was never checked on, one fact checked on, you know, the botched Afghan, Afghanistan withdrawal she blamed on Trump.
Trump had nothing to do with that. That was 100% her administration that did that, Joe.
Right. And badly even, by the way, Biden was not obligated to stick to his timetable, but even if he had been, anybody with a half a brain would have said, okay, we will leave Bagram Air Force Base. By the way, the Taliban were up in the mountains.
They were 200 miles away from Kabul. And Bagram Air Force Base, which was between Kabul and the mountains, they had all the attack helicopters and the A-10 warthogs. They controlled the road network.
You couldn’t get a Volkswagen Beetle between the mountains and Kabul with that air cover. But they closed Bagram Air Force Base first. And then the Taliban literally came in hundreds of vehicles, just pre-access, streaming out of the mountains into Kabul.
Well, if you’re gonna evacuate Kabul, why did you shut down Bagram Air Force Base first instead of last? Get all this, I mean, so that’s clearly a tactical or strategic error on the part of the Biden administration for doing it back ass words instead of getting the spillings out first and the military out last. But you’ll never hear that on TV either.
So again John, I think the purpose that you serve more so than me, you have a much larger audience, is that you tell people, if people didn’t listen to you or listen to some of the other conservative talk stations, they wouldn’t hear the stuff that you tell them about because you’ll never hear it on any of the network. They might hear it on Fox, but they’re not going to hear it on CBS, ABC, NBC or CNN.
Yep. And of course I get comments all the time on I lie, I do this, I do that, blah, blah, blah. Reality Joe is, and I always ask these people back whether it’s something that’s posted on Facebook, whether it’s a text message that comes in, whether it’s an email that comes in.
Please show me what I’ve lied about. Please give me a direct quote of something that I said that is proven to be untrue. And of course, Joe, what do I ever get in response?
Yeah.
Nothing.
By the way, I have, I get accused of that all the time when I tell people that the top 1% pay more in income taxes than the bottom 90% combined. And I get people that you’re lying, that’s BS. And I have this canned response that I just copy and paste, and it goes to something like this.
Well, gee, Jack, your claim that I’m lying would imply that you fact-checked the data I gave you against some credible source and found it to be an error, because only a fool or an idiot would make a claim like that unless they had done that, and you’re not a fool or an idiot, are you, Jack? And then I go, so Jack, assuming that you’re not a fool or an idiot, please tell me what credible data you found, you came up with what credible source was different than the data I quoted you, which came from the IRS or the US Treasury. And John, all you get back is rage and anger.
And name. I mean, typically, Joe, all they do is use the F word or this word or that word, and the reality is at the end of the day, they will never come back with any kind of counter fact-checking measure that says what you say or I say. Or by the way, most people that are on the conservative side of the ILC, say they can never come back with anything factual.
It’s just a bunch of rhetoric, hysteria, name calling.
Right, and there’s a quote that’s been attributed to the Greek philosopher Socrates. There’s some dispute whether he actually said it, but it’s pretty accurate. And the quote goes, When the debate is lost, slander becomes the tool of the loser.
Yep.
And that’s all these people, basically, when they resort to name calling in vulgar language, they’re basically saying, You’re right, I give up, I don’t have anything, so I’m going to resort to childish name calling.
Which to me just shows how low your real intelligence, your IQ really is at the end of the day. Because the reality is, if you had the ability to really come back with words and have a really good, solid argument, and by the way, I’ve had some that have called in and I’ve had good discussions back and forth. Not saying I agree with everything the other side says in those cases, but at least they’ll talk intelligently.
I’ll always give somebody the floor and let them talk, Joe. I’ll have a good, nice, open discussion, but the majority of that side can’t do that.
Yeah, whatever happened to Mike from Parker, by the way?
I haven’t heard from Mike in a long time. I don’t know, Joe. Good question.
He used to at least come back with some fact-based argument. Now, his facts were skewed and taken out of court, but he at least tried to make fact-based arguments.
Correct. And I wouldn’t call Mike really a lefty. He’s probably more middle-of-the-road, leans a little left, but really for the…
probably when it’s all said and done, votes on our side more than you think.
Okay, well, but anyway… but he’s rare. Again, he’s rare.
He is rare. Absolutely. Absolutely rare.
Well, but again, like I just said, he’s not really as far left as you think.
Right. And the far left people are those who think that both Sunday’s assassination attempt and the July attempt were both staged events by the Trump campaign.
That’s as ridiculous as our far right saying that that’s a deep state stage or Iran did it. I mean, both of those are extremes. I don’t agree with Joe.
No. In fact, let me see if I can find it. I saw a great quote today about conspiracy theories.
Let me see if I can find it for you real quick.
Really quick, Joe, you would understand this as well. And I said this on the podcast this morning, but I want to reiterate it right now. The reality is, if this was a deep state stage or anything done by some foreign actor, I ran to boot, believe me, you would find sharper individuals with sharper tools.
What I mean by that is a better gun to use for sniping than what these morons are using.
Yeah, I told you the, well, again, that the SKS, which is a AK-47 variant.
Probably one of the worst sniping rifles you could go get, Joe.
Yeah, and I said, and even that, the bullet drop, they said he would have been within 500 yards of Trump. They said which would have been, quote, within the effective range. The bullet drop is 123 inches, which is 10 feet.
Yeah, that is the last thing any good sniper would go pick out to use, Joe.
Right. So you’d have to aim 10 feet over his head, and the slightest little cross breeze would have drifted that bullet, you know, 8, 10 inches either side of Trump. So it was the worst of all the possible rifles you could have picked.
That rifle and that cartridge were the worst. By the way, I found the quote about rumors and conspiracy theories, and I think I’m going to use this for my quote. I always do my podcast with the quote of the week, and here’s the one.
It says, rumors are carried by haters, spread by fools, and accepted by idiots.
There you go.
Doesn’t that sum it up?
I’ll leave it at that. I can’t close anything better than that, Joe. Appreciate you as always.
You’re welcome, John.
Thanks, man. Take care. Have a great night.
Scott Garless will join us here in just one moment. We’ll talk about the half point red cut by the Feds today. Hi-Fi plumbing is next.
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Now, back to Rush To Reason, presented by High Five Plumbing, Heating and Cooling, where every call ends with a high five.
All right, we are back. Rush To Reason, Denver’s Afternoon Rush, Klz560. We’ll get Scott Garlas rolling here in a moment.
Charlie and I were actually talking through the break. There was actually a meet and greet today. Sort of a, I think, kind of on the heels or I should say on the forefront of one of Trump’s big rallies.
And he went and met supporters at a Bitcoin bar. Actually went there, used cryptocurrency to buy everybody, you know, some burgers or whatever else they were doing at that particular time. This thing is in Manhattan.
It is a Bitcoin-themed bar. And it was right before his rally in Nassau County in New York. So from what I understand, it was a huge success.
So good job on his part. Scott Garlish joining us now. Scott, welcome.
How are you?
Hey John, I’m well. How are you?
The day has finally come of what we have been waiting for for the past year. The Fed finally cut rates first time since 2020.
Yeah. And, you know, what I’m, I know we’ve been talking a lot about this part too, but I was really expecting that the Fed wouldn’t be as aggressive as they were. And I was really pleased to see that they did what they did.
Yeah, I, you know, I on Tuesday even, so yesterday was talking to, you know, Andy who’s with me on Tuesdays. And I had kind of anticipated, I knew for sure they would at least do a quarter. I really felt like they would do a half.
And here’s why I feel like they did, because they should have done a quarter point in July. They’re now trying to make up for lost ground that you and I were even talking about back then. I mean, and I’ll just say it as this, these guys are knuckleheads.
I mean, we watch Main Street, they’re watching Wall Street. And the reality is this thing is too late in coming and they’ve now had to do a half to make up for what they should have done in July.
Totally right. And they even said, so just, yeah, Powell said, you know, we probably should have cut in July as part of the press conference. And yeah, so they definitely should have, but at least they didn’t make the mistake of going a quarter and dragging their feet.
That one I agree with. Yeah, no, you know what? There was a little light there.
So now that begs the question, Scott, are they trying to fluff some things up for the election coming up here in November? Did they do this just because of all the adjusted numbers that came out in the last week or so? Also some of the numbers showing that hiring is now much lower than I think they expected, meaning not only is unemployment reaching up, it’s inching up, but also the new hiring of course is coming down.
Both of those are negatives. And is this part of why they made that decision as well?
Well, yeah, I mean, Powell referred to that in the press conference, too. He’s like, hey, look, the employment numbers and the adjustment, you know, what was it? Like the 850,000 jobs that they, they revised lower.
He did make comment about that. Like somebody asked about trusting the numbers. He’s like, well, we can’t because of that big change.
And we have to, you know, be careful and sort of go in. And whenever we see the employment numbers now, we have to look at them skeptically. And when we’re deciding on policy now.
So a couple of the big things that happened was the Fed members put out what’s called a summary of economic projections. And that’s where all the board members and all the regional president, presidents give their forecast for where they think the economy’s headed, inflation, unemployment. Now, they expect that the economy is going to slow down a bit more than they did earlier this year, actually as recently as June.
So they got it, keep growth lower for this year and the next couple of years. They did guide inflation growth lower as well. So they think they’ll get to 2% sooner than they did before, but that’s also a function of slowing economic growth.
And then they guided for unemployment to pick up. Back in June, they thought it would end the year at 4%. Now, they’re saying 4.4%.
So that’s a significant jump.
Yeah, no, absolutely. So really what they’re saying is some of the things that even you and I have talked about. I mean, do I think the economy is crashing?
No, in fact, I was talking to some folks today, some of my clients, where, you know, are we ever going to see a repeat of what happened in, you know, 1929 with the stock market crash? No, Scott, I’ll just firmly say that there’s just so much money flowing in today’s world, not only here in the US, but in the world. And there’s, of course, other safeguards that have been put in place and so on.
Are we would ever see anything like 1929? No, we would not. Could we even see what happened again in 08?
I highly doubt it. Again, enough safeguards in place. The housing market is in a totally different place today than it was then.
There is a lack of housing now. It’s a completely different situation than we had in 2008. Now could other things come along and be a disruptor?
Yeah, there’s always things out there that potentially could be. But the reality is, do I see things getting as bad as they were even in 08? No, I do not.
On the same token, consumer debt, all time high. People are now, well, this will help of course today in what people are paying interest on that credit card debt. So that is a help.
I mean, could there be huge defaults and bankruptcies and so on where people just can’t pay the debt that they’ve accumulated? Had the Fed not done today, I could see that being a much bigger risk. I do see some of that risk lowering now with what the Fed did.
It’s not eliminating the risk, but is that risk factor coming down? And do people still have a lot of equity in their homes because of those low mortgage rates they’ve had for years? Yes.
So do I see a repeat of 08? No, Scott. But is the economy definitely slowing down and are people watching their P’s and Q’s?
Absolutely, they are.
Yeah, I would agree with that. I mean, again, a lot of the economic data, sort of that, I think we talked about this a couple of weeks ago about the jobs numbers and stuff. If you go through and start putting the averages together where we are this year versus where we were pre-pandemic, we’re sort of back to that pre-pandemic point, right?
So what we really saw was all the stimulus that was thrown at the economy in, especially in 2021, right? That the $2.1 trillion stimulus package. I personally never felt like we really needed.
Things were already well on their way to resounding, picking up, all these things were happening, and then all of a sudden in March, like crazy spending package. You know, those things that one in particular, it really threw everything out of whack. And so we’re going back to where we probably would have been anyway if we left everything alone.
And so, you know, when I think about things in those terms, and I look at that, and I think about the economy and everything we’ve gone through, and I think about this Fed tightening cycle that has really hurt a lot of families, right? Making ends meet because the cost of everything that they buy went up. And also, all that crazy spending with the free giveaways drove the price of everything up.
You know, when I really look at that and think about it, this would have been almost four-year, three-year process was the direct result of that spending package that went through Congress and got passed in March 2011.
That’s right. No, you’re 100% correct. And we’ve now got two candidates, one talking about pulling some of those things back, even really lowering taxes.
And what I mean by that, when you talk about Trump, when he talks about no taxes on tips, no taxes on overtime, which I talked about yesterday and Monday, no taxes on Social Security, those are actually tax-lowering measures, Scott, when it’s all said and done. Maybe not equally across the board, but these are things that lower taxes for a lot of families that are out there. It’s not a tax cut per se, but it does end up lowering taxes.
It stimulates economic growth and so on. We’ve got that on one side versus the other side, talking about giving people $25,000 to buy a home, helping people start new businesses, which, by the way, I’m not against new businesses starting, but I’m against them just giving out money to help these businesses start, because you and I both know if a business isn’t funded properly on the fun side, most likely it will fail anyways no matter how much money you give them. So at the end of the day, all one side is talking about is increasing inflation, while the other side is talking about stimulating economic growth, which, by the way, will lower inflation.
That’s exactly right. And so, you know, the other part of this equation, too. Now, look, with supply chains, you know, I understand there are supply chain shutdowns and all this other stuff that happened around COVID, but we have to remember, if you inflate demand by giving money to people…
Then you’re going to even exacerbate those supply chain woes.
Exactly, which drove prices up. And if people are spending stimulus checks on things like, you know, they’re not… They were meant for things like helping people make their mortgage payments if they can and others…
And buying toothpaste and soap. I mean, let’s face it, Scott, that stimulus wasn’t supposed to be buying big screen TVs.
That’s exactly right. Or cars or other things like that. And so, you know, and then when you hear about all these guys are price gouging, well, they’re not price gouging.
You drove, you wiped out inventories of everything, and it cost them more to get the things they needed.
That’s right.
And so as that caused more, guess what happened? Prices went up. So, you know, and what we’ve seen in the past when the government has tried to do price fixing for stuff like this, it actually makes inflation worse.
That’s right. That’s right. Absolutely.
Yeah, because it’s going to just continue to drive. Yeah. Well, number one, Scott, I said this a moment ago in the show, before you came on, there’s only one thing that drives up prices and cause inflation.
It’s called government, whether that’s through economic policy, i.e. saying we’re going to shut down the Keystone Pipeline, which drives up oil prices immediately tomorrow, or whether that’s inflating, you know, inflating the money supply, you know, driving the money supply up, creating more of, both of those create inflation at the end of the day.
Yes, they totally do. And so, like, yeah, I mean, I think there was a time a while ago, you once asked me, like, you know, hey, if you were a presidential candidate in the Republican Party right now, what are the things you would focus on? And what would be a message you would want to get out there so that people understood?
And all the things we just talked about, that is something, if I were a candidate, I would focus on those topics, because, you know, the economy and inflation and what that did destroying people’s wealth and savings, that’s really important to a lot of homeowners and a lot of individuals. And I think, you know, focusing on those issues, you know, and trying to control those going forward so that we don’t wind up in that situation again, I think that’s something voters should really think about because that’s what’s going to matter.
Absolutely. All right, before I let you go, what are some things folks should be looking at when it comes to investments here moving forward, given some of the things we’ve just talked about?
Yeah, so look, interest rates, the Fed also said they intended reduce interest rates by at least another 50 points by the end of this year. So we will see a full percentage point cut hopefully by December, if not more. So I would look to buy long gated Treasury bonds because when rates go down, their prices go up.
The iShares 20 plus year Treasury bond ETF, the ticker symbol is TLT. And then the other thing I really like is the S&P 500 ETF. You know, the economy, like you talked about earlier, it’s slowing down, but it’s not falling apart.
Since 1928, the S&P has averaged a 9.5% gain every year when you dividend reinvest. That means you double your money every seven years. So if I’m an investor right now and I want to get started or I just want to keep making money, buy the S&P 500 Trust, the ticker symbol there is SPY and dividend reinvest.
All right, good to know. Folks, or Scott, how do folks find you?
Sure, see Scott Garlas on Twitter or LinkedIn and I recently started a company called Ben Pine Capital. I’m in the process of rolling out a website.
All right, when that gets done, let me know. We’ll put links up for that as well in our show notes. Scott, as always, I appreciate you, man.
Keep up the good work.
John, thanks so much for your time.
You’re very welcome. Have a great night. Again, Scott Garlas and Charlie, combine breaks.
I’ll take Bob right now that way. Bob, go ahead.
Hey, John. Well, let me start with this half a point. A quarter of a point, half a point doesn’t mean anything, except for people like me that have some short-term treasuries, money markets and CDs.
And businesses that have lines of credit tied to that, it helps them out immensely as well.
I’m going to have less income from that.
Yeah, you’ll have less. And that business owner that’s paying lines of credits, whether they’re small, medium, or even some of the larger guys that have lines of credit tied to that, that helps him out greatly. That puts money back into not only their pocket, but the pocket of the business that helps him reinvest, hire, do other things.
So yes, there’s a positive there as well.
Correct it tomorrow morning. A lot of those things are fixed.
No, they’re not, Bob. No, not in my world, they’re not. Most of us that have lines of credit, they’re tied directly to what the Fed just did today.
It’s called short-term lending, and that’s exactly what they adjusted today.
Talking about the average, Joe. Your credit card, they’re not gonna lower your credit card rate. They’re not gonna lower your car loan rate, so on and so forth.
Actually, those things will, they won’t happen tomorrow, but yes, those things will also be adjusted. What you would average pay, use car right now, if you go buy a used car, it’s anywhere from 8 to 10%. Yes, that rate will also come down.
Not tomorrow, but it will in the next 30 days.
Car loans are adjusted every day for market conditions. If they need to sell more cars, they lower the rate.
They’re also based upon what the lending costs for those institutions are, Bob.
Okay, let me talk about-
And believe me, I know that because I’ve lived that world my whole life.
Yeah, okay. Yeah, but $25,000 to buy a house, this is nonsense. I got help-
It’s not 25 now. I mean, $25,000 down payment assistant from Kamala Harris, which again, Bob, when you’re talking about even in non Denver areas, houses costing $250,000 to $300,000, that 25 grand is nothing as you know. And all it’s going to do is raise the price of the house 25 grand.
Well, you can’t find anything for $250,000 to $300,000. Anyway-
Well, you can’t in other parts of the country, but not here, no. But remember, when she’s talking, she’s talking countrywide. And yeah, there’s a lot of people listening around the country where yes, you can buy a home in that, you know, $200,000 to $300,000 range.
You can’t here, but you can other places.
Right, right. Let me go back to my history and you know where I’m coming from. Drafted at 18 years old, two years in the active duty, got out of there, bought a house for $17,000, got a $99 VA loan for $155 a month on a house.
Okay, I didn’t get a $25,000 gift.
Right, right.
I worked for that.
Right, and I didn’t pay as low as you did, but same thing, I worked for my down payment. I had no gifts. I had no down payment assistant.
None of that stuff existed at that time. In fact, you had to work really hard to get an FHA approved loan at that time, Bob. And that’s what we did at that time.
I got a VA loan, $99.
Yeah, and again, since I didn’t serve in the military, I didn’t have that option.
Yeah, well.
Anyways, no, all good points, Bob. With that, I got to run. We got to take our last break.
Appreciate you very much. Merica, or sorry, affordable interest mortgage, Kirk Rogers. In fact, he and I will talk more about all of this tomorrow at 5 o’clock in the meantime.
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All right, that’s it for today, guys. By the way, thank you so much for listening. I appreciate it very much.
Tomorrow, yes, we will have Sonny Kutcher, who a lot of you guys love listening to. She’s a great young lady doing a great work at Young Americans Against Socialism. She will be with us live in studio for hour one.
Have a great night. Rush To Reason, Denver’s Afternoon Rush, Klz560.