9.20.22: Audio automatically transcribed by Sonix

9.20.22: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Producer:
Any examples used are for illustrative purposes only, and do not take into account your particular investment objectives, financial situation or needs, and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.

Producer:
This is another money show. Get set for another hour of the latest financial information and economic news affecting your bottom line. J.r. and Anthony are committed to helping more Americans like you optimize their income, reduce their tax risk and reach financial freedom. So let's start the show. Here are your hosts, Anthony Correa and J.R. Rochford.

Anthony Carrao:
All right, here we are, your host, Anthony Carrao and J.R. Rotchford taking a break from our day to day as financial advisors with Rochford and Associates, fully independent, fourth generation family office right here in the greater Phoenix area, bringing you information you may not hear on those other financial radio shows. We're aware the last thing you need is another money show. But we appreciate you being here. Hi, J.R. Don't we appreciate it?

J.R. Rotchford:
We do. We appreciate it. Big time. And today is going to be a really good day because we are going to flip flop on you. We're going to let Anthony go first and do some financial planning matters and then I'm going to rant. I'm very ramped up today, but before Anthony gets into the boring part of our show today, we have to thank Jim and the one and only Sam Davis. We have two producers today, so there's two of us, two producers. I guess we didn't have quite enough adult supervision recently. So thank you so much, Sam and Jim, for taking care of us. As always.

Anthony Carrao:
I thought you said you weren't going to run with it. I thought you were going to say a quick hi and then it was just going to be me.

J.R. Rotchford:
You start acknowledging Jim and Sam. I'm not going to let you go. I we're here, so I'm not going to let that go.

Anthony Carrao:
So we last week we promised a lot of we're going to give some advice and talk about income over assets and bond. And I listened to the show last week and we didn't really get to any of that. So we're going to try to start with it today and then and then we can get all ranty. But the biggest thing is I talk about setting a foundation all the time. Like, what does that mean? Right. Most financial advising is diversify stocks, rule of 4%, rule 72, rule of hundred, all these rules. But I don't care about any of that. When I talk about setting a foundation, it's about taking care of yourself first and what's important before you get into investing, because there's so much more that you should do for yourself before you even should be worried about investing. So I made a list of six things to go through. The first is have a little extra food and water. It doesn't matter if you have hundreds of thousands of dollars in the bank if you can't get food and water. If we do have these trucking shortages, if there continue to burn down farms in the Midwest, you know, you can't eat your cash, have a little extra food and water.

Anthony Carrao:
You know, if you're barely scraping by and you don't have money to invest, this is a way to invest in your self. Have a little something for survival. It doesn't have to be above and beyond. You don't have to build a bunker in your backyard. Just have a little something extra. Once you have that, have a little cash at home. We spend so much time every single episode talking about how we don't trust the banks and the potential of a bail and have access to your money should you need it, you know? And with that, we talk about gold and silver. You know, our fan base, a lot of the people that listen to this show have similar thoughts on the world's weird. You might have to go to a barter system, gold and silver, but again, you can't eat gold and silver. Who are you going to trade it with? People that have other gold and silver, that's not much. What is it like? 20% of the population grows the estimate.

J.R. Rotchford:
No, no, it's 11. I think it was 11 points. Yeah. No, it's in the range of 10% for both gold and silver. Separately, gold a little bit more than silver.

Anthony Carrao:
So again, it's not massive amounts. And again, we're not we're not opposed to it. But don't build. That's not the right thing to be stockpile.

J.R. Rotchford:
Moderation like everything else. Have it part of your diversification plan, but don't get too crazy with it.

Anthony Carrao:
I mean, if we're talking about precious metals, I'm sure J.R. said this a thousand times on this show. To lead is probably the precious metal to keep having some ammo at home.

J.R. Rotchford:
The real gold people, the precious metals people that are very passionate about it. Like I won't say his name, but I have a next door neighbor that kind of got on me. He listened to the show a couple weeks ago and he was like, you know, you're talking smack about precious metals. He's like, That's the only thing that has value. I'm like, I get that. I understand that. But, you know, first for me is food and water lead. I mean, you got to keep your precious metals. I would have a team. I would have neighbors, you know, all you know, as ready as we can be. I realize the government says we have to have F-16s and nukes, but we'll see. But moderation is the key to life.

Anthony Carrao:
Again, we're not opposed in this office to gold and silver. It's just probably not at the amounts that a lot of other people will tell you to have. Once you have that an emergency fund cash is king. I say that all the time. Unfortunately, it's where do you keep that cash as? Problem. So you need to have a cash emergency fund. You need to have something liquid part of it at home, I guess part of it in the banks. And fortunately, I don't have another better place to tell you to put it unless you got a good spot in your backyard. You can be bearing it after that, right? That's to take care of your homestead directly. Now let's start talking about your finances as a whole and investing should you be investing at this point once you have all those other things taken care of? I don't know. I would say get out of debt first. Don't owe anything to anybody else. I would say your number one priority is getting out of debt. As an adviser. It's try to figure out the best way to put this, but there's only so much we can do to make you more money. But it's so much easier to limit what you have going out. You don't have to necessarily make more money if you have less money going out each month. So keep that to an absolute minimum. And the way to do that is get as far out of debt as you can.

Anthony Carrao:
I mean, even for younger people, you know, myself included, I have no debt right now outside of my mortgage. And I think that's key. I would love to not have a mortgage, but it's a little harder to do at 32 with home prices the way they are. But when you start getting into retirement age, go into retirement with no mortgage, no debt, no car payments, no credit cards, you're going to be much happier after that is when you start focusing on retirement. And I say this all the time, income over assets. If you have excess income over every month, you're going to have more possibilities in retirement. Think of your working career right now. What are you taught to do? You're taught to make more money than you spend each month. Why does that flip in retirement? You get into retirement and all of a sudden it's you've built up all of these assets and then you just pray to God that you don't lose all of these assets. Why isn't there a push for income in retirement, too? I mean, we talk about Social Security, right? Well, Social Security go away. Probably not. I mean, you'll still have people feeding into them, but it's not going to be what you're hoping it to be in two or in 2021, the Social Security and their highlight sheet of the report they put out because, you know, I love quoting, you know, exact these institutions instead of just reading articles second hand, I like to be able to quote them themselves.

Anthony Carrao:
They're saying to illustrate the magnitude of a 75 year actuarial deficit, consider that for the combined trust fund, the Social Security to remain fully solvent through the 75 year projections, revenue would have to increase by the amount equivalent to increasing payroll taxes from 3.36% to 15.76%. And when we talk about taxes as a pillar and something we need to watch in the near future, here's the Social Security Department saying this is what we're going to have to do to stay solvent. They also go on to say benefits would have to be reduced by 21% applied to all current and future beneficiaries. That means if you're listening to this show and you're on Social Security, they're going to cut your benefits by 21%, stay solvent. You think that's going to be good for this country? They say in another article that 30% of all income of the elderly right now is Social Security and handling people's finances for a living. I would say that's kind of a low number. I don't know. I think it would be much higher than that. They're saying that 37% of men and 42% of women, more than 50% of their income each year is Social Security each month. 12% of men, 15% of women rely on Social Security for 90% of their income. You imagine cutting that by 21%.

J.R. Rotchford:
And this this is getting worse, Anthony. I mean, you know, generational wealth is changing. There's going to be less generational wealth. There's going to be more people dependent on Social Security. I mean, we're seeing pensions go away. The 401. K replaced the pension and we're seeing it more and more. I mean, I've been in the office more than a quarter of a century. The changes I've seen are amazing. So and by the way, when the government puts out numbers, so when they tell you those statistics, do you think things are perhaps underinflated or overinflated?

Anthony Carrao:
You know, I would say it's under I think the problem is much worse than they're saying. Again, we see this on a day to day basis. You're going to say 30% of people's income in retirement and Social Security. I think it's a lot more than that.

J.R. Rotchford:
Yeah. Yep, I would say so.

Anthony Carrao:
So that's our big push in this office is you have to focus on you and funding that pension yourself. How do you do that? Well, through annuities. I mean, if you know anybody with assets, if you have Social Security, all that is is an annuity. There are good and bad ones out there. You hear a lot of money managers out there. Ken Fisher is a big name who said he would rather shoot his grandma than sell her an annuity. Well, if you deep dive into what he's saying, he sits, you know, he's got other interviews. He's like, oh, you know, I hate variable annuities fixed or okay, well, you have to say that annuity is such a blanket term. People love pensions. People love pensions, but they're taught to hate annuities because there's some bad ones out there. Of course there's some bad ones. There's some bad stocks out there. There's bads, all kinds of things. But you have to can't use it as a blanket term. Annuities are good. We love fixed indexed annuities. They go up. If the market goes up, you get a piece of it. You don't get the full thing because what they're doing is they're saving you from the downside. If the market goes up, you get a piece, but if it goes down, you're not losing anything. We love them. But all annuities, even the bad ones, can be turned on for a lifetime income.

Anthony Carrao:
So even if you have a bad annuity right now and you're paying a ton of fees on top of losing in the market, turn it on for an income stream. That's where the benefit comes from, from these annuities. So. After you have taken care of your income, you've gotten out of debt, you've got your emergency fund, you've got your cash at home, you've got your food and water. Now we can talk about diversification. Now, have stocks now take risks, have rental properties, or if you have money to invest but you still don't want to lose money. Look more into fixed index annuities, but set your base first before you start looking for massive growth in these 20 to 30% because 20 30%. I mean, if it can go up that high, it can go down that low, too. And can you afford to take that risk? Well, if you've set a base and you have everything else covered, you know, if your income every month is more than what you need, take a loss because now you know that you've got income coming in to replenish it. So I was glad I was able to fit that into this first segment. I didn't think I was going to get through it. Gerri, what do you got?

J.R. Rotchford:
Well, what I have is, first of all, Ken Fisher, those were the thoughts of Anthony Corio, not James Rochford. I don't think he threatened to. I really believe the same.

Anthony Carrao:
Thing I do.

J.R. Rotchford:
I think he was going to kill her. I don't know if it was necessarily a shooter, but probably some other.

Anthony Carrao:
That's what he said. He said is that one that I to find it again I'm pretty sure that's what it was.

J.R. Rotchford:
It was pretty extreme. But we got to take a break. So make sure you reach out to us at team at another money show or give us a call. 6235230444. Thanks so much for joining us on this busy Saturday. We appreciate it.

Producer:
Remember, all of Jill and Anthony's listeners receive a free financial consultation just for listening to the show. Visit another Money Show to learn more and schedule an appointment. Thanks for listening to another Money Show and subscribing wherever you listen to podcasts.

Producer:
Till you've been of man. Don't know what he wants. Another weekend, another money show visit, another money show.

Anthony Carrao:
All right. You're listening to another Money Show with Anthony Carrao and J.R. Rotchford. And I already feel like I need to apologize for that first segment because that was boring and that was the one presenting it. And I was like, I think that's good information and it's important to know. But I was, I don't know. I was drowning myself to sleep.

J.R. Rotchford:
So it may have been boring. I mean, I don't know. I fell asleep in the first 30 seconds, but I'll listen to it later and make that judgment.

Anthony Carrao:
No, actually, listen to it on Spotify or Amazon music. All the places you listen to podcasts.

J.R. Rotchford:
Wow. Way to sell the show. Yeah. Don't forget, you can find our show every single one we did. We're almost at six months, believe it or not. So yeah, you can find us on our website so you can find us on the podcast places. I just signed up for pod buying. I'm following on there, so that was real friendly. It sends me reminders in the show comes out all that way. No, it wasn't boring at all. You know, the one thing that we're always saying, we want people prepared, not scared. We want you proactive, not reactive. We want to do all these certain things. But, you know, we have to remind people when we sit with somebody, one couple, one person, one family at a time, we're doing financial advising. We're helping people with their situation. This show is more of a platform. We're sounding alarms. You know, my thing is it's always current events, you know? I mean, last week we were talking about the railroad strike, which, thank goodness, got averted at the 11th hour. Luckily, that got averted. And Anthony, you and I sat with a guy who works for the railroad. We sat with him on Friday and he said it got averted for now. He said that they placated people or the government gets involved and works with you.

Anthony Carrao:
Didn't make it sound promising like this was a permanent solution, did he?

J.R. Rotchford:
Not at all. And he talked about the raise over five years and the benefits over ten years. He said that there's still just major problems and all it did was kick another can, which is all this country does. I mean, you talk about Social Security, we kick cans, you know, I mean, I was told years and years ago, maybe 15, 20 years ago, that the government was looking into privatizing Social Security. You know, they were looking into something like giving me 50,000 for what I've paid in over my working years. Can I do better with it than they can? Well, yeah, probably even back then, I would have grabbed it. I would have put it into a fixed annuity as you bring up, you know, and then that was off the table pretty quick and then it morphed into a three pronged approach. You know what what we can seem to find sooner or later, they're going to have to raise the age. You know, this thing, if you can take it at 62, you take it at 62, and you lived in 92 or 102. No, it's going to deplete it too fast. So they're going to change the age. We think it will be 75 across the board. You know, it won't be enough. So then younger workers like you guys, sorry, you guys, they're going to make you pay more. You're paying six and a half percent right now into it. You're going to have to pay eight and a half or ten and a half. It still won't be enough. And then, Anthony, what you referenced, they're going to start cutting benefits.

J.R. Rotchford:
And we work in Sun City. So we have a lot of people, you know, we've got every different level of financial wealth and lack thereof. We've got people that are on a true fixed income now, no pension, just Social Security. You know, perhaps the spouse dies, they may get more because of the spouse's benefit. It's not enough. And then we're in this huge inflationary environment. Taxes are going up. Inflation is problematic. By the way, I heard that Arizona is the number one, the highest inflation state in the nation. So, yay, we're number one. Good for us. No, this is a perfect storm coming. So, you know, I know I come off negative, but I don't know. I mean, listening to last week's show, you were the J.R. You channeled your inner J.R. You were good. I'm a good cop. You're bad cop all sudden. So. No, I mean, everything that we talk about right now currently is potentially how to avoid just saying it right out. Problematic. Will that change? I don't know. I mean, I hope so. You know, I always say I hope one day we go back to just talking about Roth conversions and, you know, wealth generation or wealth transfer via life insurance and that sort of thing. I hope we get there. Right now. We have to talk about health care, politics, borders, geopolitics. I mean, there's so much on the table. You know, a friend of mine sent me something this morning and it was it was this YouTube video on keeping calm because there's always been something to worry about. And then it went into what's that say?

Anthony Carrao:
Who's that sound like?

J.R. Rotchford:
It sounds like you. When you came in the office, you were like, well, you've been worried since I met you. Well, yeah, you were like 11 when I met you, so. Yeah, that's that's probably fair. And you know what? There always has been something to worry about. This this video also addressed Black Swan events, which we talk about all the time. You know, the ten pillars everybody's watching that we all realize that inflation's a problem. We all realize that Russia, China, North Korea, Iran, Iraq, you name it, Chicago, let's add violence. You know Chicago, they're calling it what? Instead of Iraq, they're coming at Chirac for Iraq. More. I'm from Chicago. It makes me sad. I miss the pizza, so I don't mind getting shot at as long as I'm having good pizza. So. Yeah. And then they. Talk about Black Swan events. The end of this thing, they put this little happy ending on it. There's always been stuff to worry about. As long as you keep yourself calm during uncertain times, you'll be okay. Well, there has always been something to worry about. Never like this.

Anthony Carrao:
It's easier to keep calm if you prepare yourself to. And that's kind of the whole point of the show.

J.R. Rotchford:
Yes, we are sounding alarms so people are prepared, not scared. And I think we're doing a good job because more and more I talked to a woman last week. She and her husband have been listening to the show. They're like, we need to sit down with you and talk about our finances. But we have made some changes in our life because of your show. You know, one of our one of our work colleagues who has thought I'm crazy for 20 years. I've been with these guys for 20 years. He went out and bought food, storage, food. You know what I'm talking about? I won't say. Yeah, it's so funny. He sends pictures to us of this. What was it? My Patriots supply or some some food source. And I was like, amen. If you haven't, you don't need it. So what if you need it and you and you don't have it, you have a problem. So you didn't go out and mortgage this house. I'm sure he's doing okay financially. He took a little bit of extra money and got a little bit secured and hopefully it was worth it and peace of mind.

Anthony Carrao:
But he's in that position to where it doesn't matter how much money you have if things get bad and you're not prepared, you know, food and water is key.

J.R. Rotchford:
Yep, yep. And I would say being able to stay in your home for a week, for 30 days, whatever it is, that's going to be gold. I mean, you have to be noticing if you're listening to any kind of news at night, just the mainstream news. If you do what I do and you scour ZeroHedge and epic times epoch or whatever it is, all this stuff, you have to be frightened. I mean, there was a guy at a McDonald's in New York that took out a hatchet or an axe and starts going nuts and in no bail. He's just released instantly. I mean, violence is rising everywhere. Violence is usually the indicator of a societal collapse. I mean, I hate to go to jump right to the Civil War pillar and right to the we're all going to be throwing rocks at each other.

Anthony Carrao:
But I mean, what is the Ottoman Empire, the Mongolian empire, the Ming Dynasty, Alexander the Great Napoleon? What do they all have in common?

J.R. Rotchford:
Napoleon. He's my height, little man syndrome.

Anthony Carrao:
He was probably taller than you.

J.R. Rotchford:
I think you're going towards violence, I guess. Yeah.

Anthony Carrao:
No, no, I'm just saying, those were all the world power just the way the US is, and they are not anymore. I think that we're going to stay on top for forever is very, very naive.

J.R. Rotchford:
Right. Well, and we're being you know, we were the financial powerhouse. We are the world's police. We are getting to the end of our reign on certain matters. So and one last thing about the whole with with being prepared, it's simple. Don't get overwhelmed. Baby steps. We told you a few shows back have 15 gallons of water per person and every large dog you have, there's a goal. I mean, start putting stuff away even if you never become a client, even if we never help you with traditional financial planning. You know, if you have questions on some of the the extreme thoughts we're giving you, reach out to us. You know, there's never any obligation, never any costs. We'll help you. You know, looking at the world right now, you know, I've been reading about Lebanon, the banks in Lebanon, they're being robbed. There's people literally robbing banks in Lebanon, Argentina. I mean, I know every two years Argentina's a problem. Hyperinflation is coming back in a big way. But I'm going to leave that as a cliffhanger and see where we come back because we have to take a break. So please make sure you reach out to us. Email is team at another money show dot com. You can check out our website for previous shows at another money show dot com or give us a call 6235230444. And as always, we so greatly appreciate you joining us.

Producer:
You're listening to Another Money Show. To learn more and contact J.R. and Anthony visit another Money Show. You're listening to Another Money Show.

Anthony Carrao:
All right. Welcome back. You're listening to another Money Show. And J.R. said that he has some surprises for not just you, but for me, because I have no idea what he's going to say next. So let's roll that over to you.

J.R. Rotchford:
Nothing I really do or say is a surprise at this point, is it, Anthony? I mean, we had a podcast when COVID got here and and we were a virtual from our office for a while. We started a podcast and they're still out there. I mean, people can find them. They kind of suck. I mean, we were never that good at it. You know, Anthony is thinking right now. Oh, but you're good on the radio. No, I mean, they were kind of garbage, but believe it or not.

Anthony Carrao:
We were worse back then.

J.R. Rotchford:
No, we weren't. We were the same. But I look, I listened to a couple of those recently. I was like, they're not as bad as I thought. I mean, we're entertaining. We're certainly funny. You know, we're talking about End of the World stuff. I mean, we really are talking about like heavy duty stuff. And I don't mean that literally. I mean biblically. Are there parallels with Revelations? Yep. I mean, you know, the people that are looking at the end of the world literally and biblically are concerned, rightfully so, when we handle finances out into the future without a crystal ball. I mean, we are trying to keep our thoughts on this plane and how to handle things, you know, for the end times financially. You know, we do believe the stock market is likely you know, this is our opinion. No specific advice ever given. In general, we are personally believing that the stock market needs a correction, not what we've had so far. I mean, we're talking 2000 and 2008 combined, maybe the 91 or whatever percent in the, you know, 1929, whatever it was. We're looking at a real heavy stock market crash is what is a possibility. And then we're looking at bank balance, which means, oh, don't worry, your money's safe, but you can only have so much a day. You know, I can point you to countries around the world where they've they've done that, where they're currently doing that. You know, Venezuela is one that's a pretty recent example of a very wealthy nation.

J.R. Rotchford:
They had oil money. Chavez was really they were doing great. And now 20 years later, they've emptied zoos and eaten animals, you know, and Venezuela. I just read something a couple of days ago here. Let me let me double down on my crazy. Apparently, Venezuela is emptying their jail cells and dropping their their criminals off at our southern border. Let that sink in. Well, luckily we have the Internet. So get on Google or Goggle or Google or whatever that thing is, or better yet, go and DuckDuckGo. A little plug for my friends over at GDG. So yeah, Google that stuff and you'll see that things are weird. You know, right before the break I said, I have so much more to talk about. I never get to half of what I put in my notes, you know? I mean, in my notes, I've got Sweden. Sweden is is currently doing energy rationing. If you get caught with your thermostat at a certain degree, you're facing fines and jail time. I mean, what if that happens here? You know, last week or the week before we talk about Colorado and the people that signed up for a program and also their they got their their stuff shut down. That's crazy. You know, I'm a veteran. Let's talk of the military for a second. Do you realize that the military is telling 25% of their people roughly? I don't know how they get these numbers.

J.R. Rotchford:
They're telling them to go on food stamps. The military, while we are giving money to Ukraine, while we are still giving foreign aid to countries, we're telling our own United States military to get on food stamps so you can make it through these inflationary times. Come on. It's more embarrassing. And you know what really sucks? You won't find it on the mainstream news. You have to do what I do. You have to scour things to find all this stuff. And once you do, you'll never go back. You'll see this stuff. You know, I've had heartburn with the Wounded Warrior Foundation. I really. I'll be careful. As a veteran, as a person who deeply respects the Dave the American Legion, the military themselves, you know, the Wounded Warrior Project, we have to pass the hat. We have to take care of people with as donations. Are you kidding me? I mean, we have money for everything under the sun, but we don't have money to take care of our people that are willing to die for us and go to other countries and die for us. This is all upside down. It's all backwards. So my ranting and raving. To me, it's important. You know, I see the direction of the country. I see how the military has been gutted. You know, I don't know how it ends, but I'm just not optimistic currently.

Anthony Carrao:
So military getting gutted when they're spending billions and trillions a year on defense. Where's all that money going?

J.R. Rotchford:
Well, yeah, that's a great question. By the way, it's been over a year since we walked away from Afghanistan and left billions of dollars of equipment there. You know, there's so much wrong.

Anthony Carrao:
So can we have taken that with us? I mean, we got it. They're right. They've got no logistics planning to take stuff back.

J.R. Rotchford:
Or at least we could have shipped it all over to Ukraine so we didn't have to spend $11 billion over there where we have veterans being told to get on cards and the Supplemental Nutrition Assistance Program. So, you know, we I know we're probably getting close to break. We're going to get a notice, I'm sure, any time now from Jim. But, you know, one of the things that we you know what, let's do this. Let's take a break, because I really want to get into something important. There's a cliffhanger, so let's do this. Let's take a break and then start fresh. And our main topic of the day in my eyes is coming up. So don't forget to find us at team at another money show or our website, another Money Show dot com. Or give us a call 6235230444. And as.

Producer:
Thanks for listening to another money show. If you like what you're hearing, be sure to leave us a rating and subscribe to the show wherever you listen to podcasts. I found it. The two of you. This is another money show. Except this one's different. This one will actually keep you awake.

J.R. Rotchford:
Welcome back to another Money Show. As Anthony always says, just what you needed, another money show. You know, we say that pretty tongue in cheek. I mean, we are anything but another money. So I do every weekend I listen to different shows. I'm like, we are nothing like what we're hearing. You know, some of the pressure and the quotas and all the stuff. Everybody's still in sales and we're in alarm sounding. So anyway.

Anthony Carrao:
I'm listed off, you know, six things for investing. And I don't think we get involved until a number five or six was like, here's all the things you should do for yourself. None of them involve a financial.

J.R. Rotchford:
Advisor, right? Well, and, you know, we do help people. We we don't want to lose sight of that. I mean, there's people that have a question. I've got an old 401k, what should I do with it? You know, we can explain their options. Know, I'm almost 72. I need to take RMD. What should I do? We have, we have partners. We've, we've partnered up with wills, trusts, estate planning. We have, we have a person for health insurance. We've got a few people for Medicare and Medicaid, all those planning ideas. So we are full service financial. We just we're using this platform right now to make sure people are awake. So, you know, and I apologize if I got a little bit passionate about the military thing. I have to tell you, I just I mean, it's so infuriating to me. I mean, my adrenaline gets going. During the break, Jim said he didn't know I was in the military. I was. That's how I got to Arizona. My last base was Luke Air Force Base, and I just kind of stayed here. Jim asked about with the military, so the military being gutted, which it has for a while, could the draft come back as the father of an 18 year old son? Good Lord. I mean, yeah, the draft could come back and the age, I would think is 18, you know, active duty.

J.R. Rotchford:
I believe you can join up until you're 35. So 18 to 35, you know, go to the post office, put your name in my understanding on me in my upper fifties, I think I had heard years ago that they can still call me back up until like the age of 65. And what I would do, obviously I won't fit into my uniform, but what I would do is backfill. So they'd put me in an administrative role, perhaps out at Luke Air Force Base, and then they could deploy a younger person. So these are really uncertain times for the military. But, you know, when you tell anybody in the military that they are advised to go on food stamps, when you when you pass the hat for people that got hurt and lost a leg, you know, that's just in my opinion, that's ridiculous. And it and it needs to stop. But that's just me. Somebody will fix it sooner or later, like everything else. I hope so. And speaking of the military, did you know, Anthony, that the Phoenix Police Department is teaming up with the military to do training in Phoenix and Peoria? I think it starts today, maybe tomorrow for like three days. There's going to be some training and it kind of got leaked on Facebook.

J.R. Rotchford:
And then this morning, you know, because I couldn't find a lot on it. So and that always bothers me. And then on 92.3, a station, I won't mention what, what, you know, band or anything but it I heard it they said that it will be minimal disruption to the public. But it is it is happening so that, you know, at least wake up kids. So one of the things that I really wanted to get into, a lot of times people hear our show and they they want to make it where it fits their political narrative. You know, that's been asked to us a lot. Anthony, you were with me last Friday. You know, one one person, one woman we we talked to said that, you know. Yeah, but you guys are very this. You're very that. No, we're not at all. We're financial. We we see things through a financial lens. So here and this is for her benefit. Let's talk a little bit about immigration. This this is something that this should get people going. You know, how do you make immigration financial and not political? What did Shakespeare say? Let me count the ways. You know, are you hearing anything about people being bussed and flown across the nation, Anthony? Are you reading about that? Oh.

Anthony Carrao:
I've heard something about was that place outside of Boston. Yeah, I've heard little things. I've not heard enough, though. Tell me more.

J.R. Rotchford:
Well, in Chicago, or as I refer to it lately, I'm stealing this from others. Chirac So you're actually safer in Iraq than Chicago. Now wake up, kids. So, sanctuary cities, you said you're safe here. We don't care about your immigration status. You said you're safe. You found a happy place. Well, Martha's Vineyard supposedly was a happy place, and these people were pissed. They got the National Guard, from what I understand, together, and rounded them up and took them off of Martha's Vineyard and I guess put them on a military installation or something. So I don't know. I mean, I can't keep up with all the news, but. So you're friendly until you are called out on it and then you're not so friendly. Lori? Lori Lightfoot, Chicago Mayor, you know, same with you. You know, you're having a great time saying everybody is welcome until until they get there and then you're saying we're going to go after you and, you know, Martha's Vineyard. Do you know that they're getting lawyers and they're going to start suing like you're trafficking? First of all, when did people that came into the country without citizenship, proper citizenship, when did they become legal citizens? And now they can sue us? And, you know, here here we go. I mean, that sounded kind of. It's not political all it's financial. Who's putting in the money to sue anybody that's bussing or flying people to Martha's Vineyard? Taxpayers. Hello, taxpayers. When you get to Martha's Vineyard and they didn't stay long, they were there a day or two.

J.R. Rotchford:
Sure, it was nice. And the Martha's Vineyard people said there's no housing, there's no lodging, there's no jobs. And then all said, I love Facebook. There's my primary source of news. I'm just kidding. So also, when it comes out oh, no, no, no, no. You have plenty of jobs. There's plenty of jobs. You just want to make sure they go to certain people. Shame on you. So let me let me take you back for a second. When I talk about money and people being here, the common thread, when you get here, you've kind of won the lottery. So if you're from another country where there's violence and you're escaping certain things, I get that we all we're all humanitarian, we're all good, caring people. But I think there's a whole bunch of people that also want to get here and get food and medical care and a much better shot at a better living than they have there. And that's what's going on. I printed off an article from The Washington Examiner. This is on September 14th. I'd like to read a little bit of it. I know, Anthony, you hate when I read, but this is important. This will really kind of shed light on why I think what we say is financial and not political. So in the latest in its latest effort to remove barriers to immigration, the Department of Homeland Security is finalizing the long awaited public charge rule. So if you're bored in your restless research public charge rule, codifying a weak standard that upends congressional intent, decades of precedents and the core American value of as I turn the page, the term public charge data first appeared in a statute in 1882, when Congress barred the admission of any person unable to take care of himself or herself without becoming a public charge.

J.R. Rotchford:
What does all that mean? I mean, what is a public charge? More than 100 years later, Congress issued a statement of national policy on self sufficiency and immigration when it enacted the Personal Responsibility and Work Opportunity Reconciliation Act of 1996. The statement confirmed that aliens within the United States should not be reliant on public resources, lest those public benefits become an incentive for immigration. You know, this is a couple of pages long article, but I'll stop there. So basically what this is saying, the intent of our immigration system, we've always welcomed people to immigrate, but we've welcomed it legally. We welcomed it a certain way. We haven't welcomed it just to have anybody come across the border which is currently going on this. This article, though, says The reason that we need to maintain our sovereign nation is financial. You know, if you come here just to be on public assistance, that's a problem. We're 30 trillion in debt. So if we're 30 trillion in debt, where is the money going to come to help the influx of millions of people? By the way, I heard this morning that over 2 million people have been arrested at the border. I need to read more details. So I don't you know.

Anthony Carrao:
That seems like a lot million.

J.R. Rotchford:
Yeah. Well, let's add in this year, so far this year, maybe it was since the current political administration, I don't know, that sounded political. But again, so arresting, you know, who's paying the salary of the arresting ICE agents or officers, who's paying for the lodging? I mean, what on earth is going on? So anyway, but and I do tie it to financial. We are broke. We are we are getting ready to basically lose the dollar as the world reserve currency. We think we're going to have some massive financial pain and and everything is doubling down. Everything is getting worse. You've got people that are here illegally. I don't know if this is still going on. I have a feeling it is that are being put up in hotels. You know, let me let me tie illegal immigration in with the military. You're putting illegal aliens at the taxpayer dime in hotels while you're telling the military to get on food stamps. And we don't see an issue with this. So I'm sorry. I do. So I think it's more financial than political.

Anthony Carrao:
And I'm seeing one this is Wall Street Journal. Border Patrol agents have made about 1.2 or I'm sorry, 1.82 million arrests at the southern border in the government's fiscal year, which ends September 30th.

J.R. Rotchford:
So that's right under 2 million. What was that dated? Because this morning I heard.

Anthony Carrao:
This was I think in August is when this article came out. So they yeah, that would make sense if we're at two but just that's insane. In one year, 2 million people. That's a lot of people.

J.R. Rotchford:
It is because that would be a small portion of the overall people is my thinking you're not arresting borders.

Anthony Carrao:
Are secure, right? Isn't that Kamala Harris just had an interview recently?

J.R. Rotchford:
Correct. And then you do realize that we dropped off a bunch of people that are guests of the country by her house. You realize that, right? It's so funny because you. Yep. Yeah. Twice now from what I've read. So and by the way, if you were stationed at Camp Lejeune, you're about to be wealthy. Have you heard those commercials on TV? Like, I guess people that drank water at Camp Lejeune are all getting class action lawsuits going, yeah, the world is weird. Puerto Rico, are you following Puerto Rico right now with the flooding and the power outages? I mean, I don't know where to stop. I read something two days ago. I'm sifting through my notes here because there's so much. So I read something that 89 countries have just signed up to this fossil fuels database. If you know anything about this, it started oh, it must have been yesterday, because it started yesterday coinciding with a UN meeting in New York. So, you know, we forget I talk about all this different stuff today. I'm ranting up the military and and you're doing common sense financial planning. So good cop, bad cop. You know, we also have to still worry about the Disinformation Governance Board. It's officially disbanded. I heard unofficially it's still going and a say Patriot Act or all the stuff that made me think that that's true. You have to worry about the ESG, the environmental social governance scores. So that makes perfect sense. Also now we have a fossil fuels database where anybody in the public can go in this database and kind of get an idea of what's going on. Oh, and, you know, we did.

Anthony Carrao:
Do what's the database? I mean, what are you what are they tracking? What?

J.R. Rotchford:
Well, it's brand new, but from what I've seen so far in my reading so far, it basically we're going to start shaming companies that are doing things that that aren't, you know, green. Bottom line, the green the Inflation Reduction Act. Do you think that has anything to do with inflation? That's the new green deal. We can call things whatever we want. That doesn't make them different. That's the new Green Deal. That's the very first leg of this.

Anthony Carrao:
California isn't for inflation, that's for sure.

J.R. Rotchford:
No, quite the opposite.

Anthony Carrao:
Which is great, though. We're we're recording last week while they're partying over that and the markets dropping because of the inflation numbers.

J.R. Rotchford:
And I'm sure you saw the video clips of the president speaking. And, you know, and by the way, they were partying on the taxpayer dollar, all the food and beverage and all that. We paid for that. So thanks. As the as the president's talk in the scroller down there, Dow down 879 points. And if you can't make all this stuff up, but luckily it's fun. Lovely, luckily, lovely, lovely. We still have a good sense of humor in all of this or I don't know what we do. I mean, I'm sure I'd have a heart attack. I'm going to have a heart attack anyway, but it would be faster. You know what? We talk the last couple of weeks about drought. We can never get to it. Drought is way down on our list because they're not going to start rationing the water in Arizona until next year. You know, so this is what September getting.

Anthony Carrao:
We're telling people right now to plan ahead for stuff like that. We haven't directly said because of the drought, but we've been talking about the trucking issues and supply chain issues that all ties in together. Yeah.

J.R. Rotchford:
Speaking of which, why don't we? I wish we had one more hour so I can get into the drought. And if you want to narrow in on something when when we start water rationing next year, a thing that you may want to look into, research the word fundament, if you remember that fundament. It's a Saudi Arabian company that has bought water rights in Arizona for pennies on the dollar. It'll start shocking you. You know, there's shenanigans with water. So I talked last week about training at the Air Force Base on water. You know, I hate to do this, but we are running out of time again. So?

Producer:
So.

Anthony Carrao:
I was going to say, that's it for today's show. If you like what you heard, you have questions about any of the topics today or want to sit down with us to review your personal situation. You can reach us at team at another money show dot com. Find us on the web at another money show dot com. Listen to another Money Show wherever you listen to podcasts. There are no minimums. No cost for appointments. Nothing to lose by getting a second, second opinion. So until then, we will see you next Saturday right here on 960, The Patriot at noon. Take care.

Producer:
Thanks for listening to another Money Show. You deserve to work with a private wealth management firm that will strategically work to protect your hard earned assets, to schedule your free no obligation consultation. Visit another Money Show dot com Investment Advisory Services offered through Brookstone Capital Management LLC. Bcm, a registered investment advisor, BCM and Rochford Financial are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance cannot be used as an indicator to determine future results.

Sonix is the world’s most advanced automated transcription, translation, and subtitling platform. Fast, accurate, and affordable.

Automatically convert your mp3 files to text (txt file), Microsoft Word (docx file), and SubRip Subtitle (srt file) in minutes.

Sonix has many features that you'd love including share transcripts, collaboration tools, automated translation, secure transcription and file storage, and easily transcribe your Zoom meetings. Try Sonix for free today.