Market mayhem or magnificent momentum? The horse is back in the hospital!
Trump's return has Wall Street watching and wondering. Will tariffs trump trade? Will deportation derail labor markets?
The 10-year Treasury tells the tale - above 5% spells trouble. But AI advances offer silver linings amid the chaos.
We're exploring everything you need to know about protecting your portfolio in these peculiar times. So tune in, take notes, and stay informed.
Your wealth could depend on it.
Click to watch: "Will Trump Tank Your Retirement Account in 2025"
Takeaways
Summary
In this episode of Money Talks News, hosts Stacy Johnson and Aaron Freeman discuss the potential impact of Donald Trump's presidency on retirement accounts and the stock market. They explore the uncertainty surrounding economic policies, tariffs, and inflation, using the metaphor of 'the horse in the hospital' to illustrate unpredictability. The conversation delves into the role of bond vigilantes, investing strategies in uncertain times, and the transformative potential of AI in the economy.
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Hey guys and welcome to Money Talks News, the podcast. We're gonna talk to you today about whether Donald Trump is going to affect your retirement account in 2025. I'm your host, Stacey Johnson. With me is my producer and my friend Aaron Freeman. Hey,
Aaron. Hey Stacy, it's good to be here with you again. Always
a pleasure, my friend.
So what are we gonna talk about today? Here, here's, here's the thing. I've been doing some studying on this before we went on the air, and I was thinking like, you know, this reminds me a lot of a comedy routine by John Mulaney. You, we've seen John Mulaney
together.
Yes we have. I think another comedy routine you're talking about, yeah,
it's
called The Horse in the hospital. This guy being the president, it's like there's a horse loose in a hospital. And the reason I mentioned this, it's a very funny thing if you guys haven't heard it.
You can see it on on uh YouTube, but just look up um Horse and Hospital, and what it's about, he, he recorded this when Donald Trump first uh became president in 2016, uh, and what it's about is like, there's a horse in the hospital, who knows what the horse is gonna do? The horse might do anything. We don't know because there's never been a horse in the hospital before, but I have no idea what's gonna happen next.
And neither do any of you. Because, you know, but the truth is, here we are again, OK, the horse is back in the hospital and the horse is saying all kinds of weird things. And
he, yeah,
I mean just this week, uh, he's talked about annexing Greenland. But nobody knows if they even have any right, title, or interest. The people are going to probably vote for independence or to come into the United States. Uh, invading Panama. It's being operated by China, China.
And we gave the Panama Canal to Panama. We didn't give it to China. Changing the name of the Gulf of Mexico, I mean, here's the thing, and this is why I bring this up. It's not that I hate Donald Trump. I'm, I'm, I'm ambivalent on who the president is, but what's important is I don't know what the hell is gonna happen.
Uh, and, and the stock market doesn't know what the hell is gonna happen either.
And he's elected. Why is he saying these
things?
Yeah, and well, I mean, and this is, this is how he got elected because he says outrageous things. But the stock market doesn't want outrageous things. It wants to know what the path forward is, and what these guys are doing is they're rolling the dice, OK? And when I say that, what I mean is they're going to try to lower taxes and make up for it with tariffs.
And this is, uh, this is what the horse is saying now. OK, I don't know what's gonna actually happen. But I mean, but I think that's the idea. Cut government regulation, cut taxes, make up for the, the deficit that would result by increasing tariffs. Now, will this
work? Well, Pep past that sort of no.
I don't know. I don't
know. OK, so when he, his first term, right?
He, uh, he went in and he put in a bunch of tariffs right off the bat, and he inherited a good economy when he was in office, right? Uh, and so between doing that and, and, and all these other things, he actually increased the deficit and the deficit actually was 100% of the economy.
Yeah the deficit, yes, but remember COVID had a lot to do with that too. But
yes, and COVID had a lot to do with it like I was going to say that too. Um, but
So, so, so explain to me how he's going to do better in the second term. Well, he's a lot of people, a lot of people are going to say is like, well, he didn't get to finish his second term the first time to really prove that his policies are going to work.
Well, we'll, we'll see what happens, but you know, the real, the point I'm really making here, Erin, I, I was a stockbroker in 1981. OK, I've been doing this for 40 years and I've and
Anyone who says this time is different is generally wrong, you know, because history does repeat itself or or at least it rhymes, uh, but here, this is really weird because I really don't know which way to turn. I mean, there are some things here that make the stock market look very attractive in 2025, for example, less regulation means more profits. Lower taxes obviously mean more profits for companies, and that can translate into higher stock prices. However, if, if these tariffs do become inflationary,
Uh, and, and if the, the deportation of millions of workers, uh, starts to affect the labor market, then that's negative, you know, and, and I'm just not sure whether, I mean, I'm assuming that a lot of this stuff is a bluff. I don't think we're gonna invade Greenland. I don't think we're going to deport 10 million people, um, and, and I don't, I hesitate to think that there's gonna be an across the board tariff of 60% on every single thing coming from China. I don't think those things are really gonna happen.
Um, but, but they might, you know, the horse is in the hospital. I don't know what he's gonna do. And of course, obviously a lot of this stuff takes congressional approval too, and I'm not sure whether that would be forthcoming or not.
Well, not always his tariffs, not all of this tariff stuff takes congressional stuff. I mean, there's a lot of
A lot of acts that supposedly he can pull from, from the 70s and the 60s that made their, you know, you mean for tariffs, the, yeah, the language is very kind of loose that Section 301,
he could declare an emergency and, and say that, you know, he's going to raise tariffs, and I think that's what he will do. And I think even if it did go before Congress, depending on how it was introduced because obviously their, their lead is very narrow in both the House and the Senate.
Uh, depending on whether it's in a reconciliation or something like that where it only takes 51 votes, he, he could get the approval of the of the uh Congress anyway. But, but here, but here's an example, OK? The other day.
The Federal Reserve lowered interest rates by 0.25%. This is widely expected. And guess what happened in the meantime, right after that. Now you would expect rates would have dropped, right? I mean, the, the Fed can only control very short term rates, OK, the Fed funds rate.
And so when, but generally when they lower that rate, rates across the economy go down, the 10 year treasury goes down, the 5 year treasury goes down, uh, which means the 10 year treasury especially means that mortgage rates are gonna go down, uh, car loan rates are gonna go down. And so that's why that's what the Fed is.
Doing they're lowering rates to stimulate the economy, so it makes it easier for people to borrow. Now, here's what's weird though that doesn't typically happen. Interest rates didn't go down. The rates that they had oversight on went down because they can't make that happen, but the 5 year interest rates are higher now than they were last spring.
Uh, and, and tenure rates are too. And now why is that?
You know why? Because the horse in the hospital. Let, let me read you something. Let me read you something. OK. This is from The Hill. I, I, I got got a few quotes to read today, um.
Fed officials expect to move more slowly on future interest rate cuts, according to December meeting minutes released yesterday, Wednesday.
Uh, as reasons for this judgment, participants cited, now, now listen to this, as reasons for this judgment, participants cited recent stronger than expected readings on inflation and the likely effects of potential changes in trade and immigration policy.
OK, so what's happening is the Fed was all ready to cut rates more and then these policy proposals came up and so now they're going like, well, wait a minute, we don't know if these are gonna be inflationary or not, therefore, we're not gonna lower rates until we have a better idea of what the hell is going on.
Now that's an example of something you don't see very often. You don't typically see the Fed lowering rates and the market responding.
With higher rates, right? And the reason, part of the, you know, part of the reason for that is the uncertainty of what the heck is gonna happen.
Right.
I guess is that, is that why also we've seen the stock market kind of like doing this because they're trying to adjust their positions, trying to figure out, well, we have no idea if this is going to be good or bad.
Yes, because we all know that higher rates are not good for stocks, right? Because if businesses, it costs businesses more to borrow, then they make less money, you know, blah blah blah, flows the bottom line. So it, so look at what we've got here. We've got a situation where regulations are going down, good for business, taxes going down, great for business.
But what if interest rates go up because of the tariffs cause inflation, right? You know, so that's why I'm kind of like a deer in the headlights. I'm not sure what to do, and the other, go ahead, go ahead.
No, I was gonna say, I mean, you're you're touching on on tariffs and
In Trump's mind, what I wrote down here, he says, uh, so this is what he says, this is quote, the higher the tariffs, the more likely that it is the companies will come to the United States and build factories in the United States and so it doesn't have to pay, so they don't have to pay tariffs. So he says he thinks that by bringing these companies, by creating higher tariffs and these other foreign entities, uh, either American companies or companies are going to put their, you know, manufacturing here in the United States to try to avoid these tariffs, which is
OK, so you can explain that one. It doesn't work.
Yeah, the thing is that that kind of thing could mean, that's the purpose of tariffs really is to protect domestic manufacturers. But if you're a domestic manufacturer of cars and all the parts that you're using come from China, then those cars are gonna get more expensive even though you're here. So, and you know, another thing too, imagine this, you and I are competing businesses. We both sell cars. You're in the United States, I'm in China.
OK, now I sell my car for $8000 you sell yours for $10,000 because my labor is cheaper. OK, now the president comes along and he says, OK, I'm gonna put a 50% tariff on all of Stacy's cars. So now my cars cost $12,000. Your cars still only cost $100.
This American
cars seem cheaper,
right? Your American cars are cheaper. Uh, but what are you gonna do though when you find out that they they're close, your competitors now dust.
I mean, I, I'm charging you $120 for something you're selling for 10. What do you, would you think you might raise your price to 11?
Well, you've got no competition. I've got no competition, so I'm gonna raise it up so that my, my stock portfolio looks better,
right? Well, I mean, you know, you're gonna, you're gonna raise your price, you're gonna make more money. And so that's inflationary. So you know, try to keep, you know, in other words, this is a complex topic with lots of different facets to it. And, and so, you know, whether raising tariffs is a good idea or not.
Historically, it has not been. I was looking at research reports last night from JP Morgan Private Banking, and they, they said, well, here's here's one thing you might remember, um, he raised the prices for aluminum or something like that. Anyway, appliances, appliances became more expensive. They went up by like 18%,
which is another ability that the president has within one of those acts is is raising tariffs on, on metals.
Yes, his other, his other weird belief though, I don't know I think it's more of like a negotiating tactic is why he's saying this stuff because he, one of the things he said is that he believes that putting tariff pressure on countries who bring them to the table because he had, he said this thing that he thinks he can thwart uh manufacturing of fentanyl in Mexico by putting tariff pressure on Mexico saying you will, you know, get rid of this fentanyl that country.
And then of course, the president of Mexico you know, replies back with, well, maybe if America didn't have a supply demand of wanting fentanyl, then we wouldn't have this problem
and that's absolutely true. Uh, yeah, I mean that's absolutely true. but, but what you said too, Erin, is, is uh is pertinent because if uh if OK, if you're Mexico.
And I'm me, and I'm the United States, and I go, you know what, Aaron, I'm gonna start charging you 25% tariffs unless you stamp out those um the the fentanyl factories, and, and then you're gonna go.
Don't tell me what you're gonna do, and I'll put tariffs on you, blah blah blah. Do you know what you will do? You'll probably get off the phone with me and call somebody up and say we need to raise some fentanyl factories, uh, and so, you know, as you said, you know, this is gonna be, this is something he may be using as a bluff and
Again, the rest of the world looks at him like I said in the beginning of this podcast. This is a horse in the hospital. I mean, he may raise these, he may raise your tariffs 25%. He may invade your country, and we don't know what he's going to do. And this is and this is a valuable bargaining chip, you know, acting crazy.
Well, I yeah, I think he acting crazy is the way he's getting people to the table to try to negotiate something that he's looking for in some other fashion. What do you think about this? Uh, OK, so let's say he does all these terrorist things.
And it blows up the world economy, uh.
So for example, uh, like South America and stuff like that, they've actually looked to China for better trade deals and so have other countries. So if it's tough to do trade deals with America because of all this stuff, wouldn't it kind of force other countries, even our European allies, to go, OK, fine, we'll we'll find better deals elsewhere.
It's possible that that's true, and they certainly 11 would assume that they will have retaliatory tariffs of their own.
Uh, and I think there's some history of that when, uh, when he made Harley Davidson's, uh, more expensive in Europe, they, they came back and, and said, you know, well, we're gonna make liquor more expensive. Uh, and so, you know, there, there will be retaliatory tariffs and certainly in the case of China, they could also refuse to sell um the um components, not the components, but the minerals that we need to make batteries. I mean, there, there's a lot of shit that can happen here, pardon my French, but and I think this is why.
You see interest rates going up and they should be going down.
Uh, and, and until these stuff gets ironed out, until we see whether this is a bluff or the real thing, we're, we're going to a we're probably gonna have higher rates because tariffs and exporting millions of people or deporting sorry, millions of people is inflationary period. So until until we find out whether this is actually going to occur, interest rates, uh you you mentioned when we were talking yesterday, I think about bond vigilantes.
Yeah, so these are people who are that this, this term, by the way, bond vigilante was coined by Ed Yardini, who I know, I mean, I don't know, he's not a friend of mine, but I met him because I worked for EF Hutton in 1981, and he was the chief economist for EF Hutton. Anyway,
he coined that in a book or something or yeah,
I don't know, but anyway, uh, a bond vigilante, so what's happening is the bond vigilante is they're selling bonds.
Which makes the which makes the rates on bonds go up.
OK, traders in general, the guys that that buy the government, you know, bonds, you know, and
it's, you know, you're picturing vigilantes as being a bunch of guys on horses hunting down, you know, the rustlers or whatever, but what these guys are really doing is they're saying, I'm uncertain of the future. I'm uncertain that you're going to be able to keep interest rates low because of the policies that you're enacting. And so they're selling bonds because bonds are risky. In other words, if interest rates go up, bond values go down.
And if you've got $10 billion in government bonds, uh, and you're a trader, then you probably don't want them to go down in value. So you're selling, selling them, and that makes interest rates go up. So this, so the market is telling you something. And, and it's really important. In fact, I think
I I don't know if you're really explaining that to people like they're called bond vigilantes because it technically seems like they actually have power over the government. They're scaring the government saying what what I'm doing my policies. So I don't know if you can explain that better. I was.
Trying to understand it myself. I was reading about it this morning, I'm trying to wrap my head around it perfectly. Let's say you're you're bond, you're you're a bond trader and you've got whatever, $10 billion.10 year treasuries and you bought them at like trying to understand this, so you explain to me if I'm right, you bought them at like
Um, let's see, 3%. OK, they're paying 3%. OK, they're paying 3% for 10 years. Now all of a sudden policies come in, you go, whoa, whoa, I don't like these policies because the policies are going to bring the yield up to 5%.
Yes, that's what you're afraid of, right? And if you think that's gonna happen, you're gonna sell your bonds.
So you're gonna sell your bonds at 3%, which forces the government to buy those back because those are the
market
is that the deal is?
Here's what's confusing about the word vigilante, it appears.
As if these guys are manipulating the government. Uh, what they're actually doing, Erin, is, OK, let's say for example, you and I, uh, everybody in the United States is freaked out about the stock market because we think this guy is a horse in the hospital. OK, so we all sell our stocks.
Now we didn't have any coordinated effort to make the government do something, but if we all sell our stocks in the stock market drops, you know, 5000 points, our interest rates go to 10% on government bonds, the government pays attention to that, and they're gonna go, oh my God, what the hell did we do? We did something wrong to freak these people out, and then they're gonna do something to keep us from being freaked out. That, that's what it means. It's not like they're directly influencing the government. They're just but when interest rates go higher, like what the Fed just did, they lowered rates, rates are up, and so that's getting their attention.
And so they could,
does that, does that cause the government deficit to go up or does it cause the government because
the government has to pay me more
interest right because they're selling at a lower rate and they're rebuying the bonds at the higher rate. Yeah,
well, I mean, if the interest rates are now 5% and the government issues debt, which they do every week, then you know, that's costing them a hell of a lot more money than it did when rates were 3. And so they're paying attention to that.
Right. And that's what a bond vigilante really is. I
want
to
now to bring that around, so now Trump is kind of, you know, he's a, he's a guy who wants to make money himself and he's made no, he hasn't hidden the fact that he he hasn't done anything these other presidents have done. He's never put, you know, his stuff in a blind trust. He's never, he's pretty much said like, you know, I'm here to make money for myself and for the rest of the world, rest of the country. So with that,
I mean, it seems like there's some pricing pressures in there that would keep him from wanting to do too many radical things because it would hurt his own.
Portfolio. So I mean, are we looking at him trying to leave a legacy in these next 4 years of something crazy or is he trying to just make money, which he wouldn't
do anything,
I don't know. I mean, you know, the horse isn't trying to cause damage in the hospital either, but you know, but the horse maybe not what that know what the hell it's doing, and I'm and I'm gonna back up. I've said this many, you know, this horse in the hospital thing. I'm not calling Donald Trump a horse. I'm not saying he's a bad guy. I'm just saying that some of the things he's doing are very
Unusual, and I'm not sure what his motives are, or whether he'll be able to follow through on them or whether he even wants to follow through. I don't know, uh, just like we don't know what happens when there's a horse in the hospital. Let let me let me read you something that came from.
I'm a JP Morgan Private Bank again.
And this is a good paragraph. I want everybody listening to this podcast to just hear this one thing, cause now we're gonna, we, we need to talk about what's gonna happen this year, what we're doing with our money, and we're going to, and, and let me, let me lead into that by reading you this. Ultimately, the 10 year treasury will be the best barometer of the new administration.
If the supply side benefits from deregulation and tax cuts.
Um, oh, if they, if that overpowers the inflationary impacts of tariffs.
A shrinking labor supply and large budget deficits.
The 10 years should remain in the 4.5 to 5% range. But if the 10 year rises meaning meaningfully above 5%,
And stays there, something will have gone very wrong. So here's something for our listeners to latch onto. You can go to CNBC or any number of other websites. You can see where the 10 year is. It's gone up.
It was 4.7. I thought I saw.
Yeah, 4.687, so 4.7.
So that's something you guys can keep an eye on and and obviously this is one bank's opinion, this is not gospel, but it but it's something that's interesting. It's because if those interest rates are going up, that's gonna hurt stocks and, and stocks right now are are priced to perfection. I mean, the stock market is super overvalued.
Yeah, well, we got like the, the, what is it called, the, the big 5 or the big 7, where are they like 40.
Was it 440 times
earnings?
Well, they're not, I don't know I don't think the whole group is 40 times earnings, but they're high. They're historically high and look at what Warren Buffett has done. He's taken money out of the market, a lot of money out of the market because, I mean, so getting into what I'm doing personally with my money is I've got millions of dollars a couple of million dollars in the stock market. I'm not taking it out. However, I'm also not buying. I'm not gonna buy when when things are this uncertain and when um.
When things are this overvalued, I'm just not. I mean, you know, you, you, in, in my opinion, the way I made the most money in the stock market is I bought when everybody else was selling.
Uh, in other words, I bought in 2009, you know, I'm not a guy who day trades super smart. Yeah, well, it's just, you know, it's, it's, it's not smart, it's, it's experience,
you know, well, for example, Trump's 1st, 1st term.
Uh, there's a bunch of different numbers on this. Some people say 16, some say 14, but, but the gist is, is that the S&P 500 went up 14% during his, his 1st 4 years, even with COVID and everything else. Now we can put a chart in the podcast or somewhere but if you look at every chart for every president.
There is basically a growth in the S&P
500,
you know, except for when there's except for times when there's like something cataclysmic, you know, like World War II or, you know, the Gulf War or COVID or the housing crisis.
Um, yeah,
but I think I don't look at me,
I'm sorry, I'm sorry I cut you off, but you sent me a good New York Times article, you know, showing why you people lost money when they got out, you know, the market during times of like, so you're kind of alluding to that when you're saying I'm not.
Out of the market. Can you, can you explain to everybody, you know, what that New York Times article was saying as far as like, you know, you could lose by trying to time the
market. You know, it's, it's just as simple and I could, I, I had Apple. I mean, I owned thousands of shares of Apple. It made me a million dollars, um, but I don't have a lot of it anymore. But when, when the last recession came, 2009, whatever the Great Recession, um, I sold some Apple prior to it going down.
And it was smart, you know, I mean, I, I don't remember what the prices were now, but I sold it and I was right. It went down in value. But guess what? I didn't buy back in because when you sell something, you got another decision to make now. Are you gonna sit up cause yeah and you're often gonna find yourself sitting on the head or sitting on the sidelines watching the stock market go back up. Uh, and as a matter of fact, when, um, during the pandemic I bought Nvidia, I put $10,000 in Nvidia. I was gonna put in 20, but I was waiting for it to come down more.
Guess what? It didn't.
Now I, I made $250 million on that $10,000 but could have been $5 million. Uh, but the, the point is this, when you your point first, the market tends to go up over time but always has because the American economy expands.
To hell with the president, that's just what happens, you know, I mean, the president can help, the president can hurt, but the economy expands and and businesses become more valuable and the stock market goes up. So selling and trying to time the market is often a fool's game. The, the extent of timing I'm doing now is I'm choosing, there are stocks I want to buy right now. I'm choosing not to do that because they're overvalued and because I don't know what the horse is gonna do in the hospital.
And that's really all it all it comes down to. So if, if I'm a person listening to this podcast who's retired or gonna be retired soon and it's really matters where this stuff goes up and down, I would be cautious about uh buying more, but you know that this is why um you remember Miranda, our podcast host for many years, um, she would always say dollar cost averaging baby, you know, you, you put it in now and then if you're, you know, if, if I'm not buying now, but market keeps going up at least I put a little in.
And if the market goes down, it's gonna be cheaper and I can buy it then so averaging in is still fine.
But I, I would not take a lump sum of cash and buy the stock market right here.
Would you, OK, so let's say, let's talk about people that could be retiring within these next 4 years. What's your suggestion to
them?
I hope it's, I hope I'm one of those people. I mean, you know, I, I am underweight in stocks relative to my net worth. Um, so I would be if it, if you're gonna need this money in a year, I would take some money off the table right now. I certainly would.
I mean you've seen how volatile the market is, it goes up to 400 points one day and goes down 400 the next, and the reason for that is because of all the uncertainties out there. If I know I'm gonna need money in a year, especially if I've got nice profits, and you should, if you're invested in any of the mag 7 or whatever they're called.
Take some money off the table. Make yourself comfortable. You know, the amount of money you should have in the market is very, very easy to determine. It's not a percentage. It's the amount that makes you not worry, you know, like I, like I said, I've got significant money in the stock market, but I've got significant money not in the stock market. So I ain't worried if the stock, if the stock market falls 10 or 15%.
I, I'm not happy, you know, I'd rather be richer than poorer, but it's not gonna keep me up at night. If, if the amount of money that you're gonna lose is gonna have you staring at the ceiling, then you've got too much money in the market, and that's true, period, no matter what the market's doing.
That makes sense.
That makes sense, makes sense. Now, what about, uh, guys like me, you know, we're in my 50s and obviously we've got some time, you know, before retirement and I'm dealing with a lot of uncertainty here, you know, we've got not only we don't know what Trump's going to do in the global market, but we also have uh pressures of AI which we have no idea without disruption in the in the workforce is going to be like some people say it's going to be great and it's going to be an economic boom like we've never seen like a renaissance.
And then other people are saying, well, it's going to be a transition period that's going to be rough. I think that's true.
Um, so, so with that, I mean, like you're saying, OK, well, the market's high, should we say, OK, well, are we pulling money out and investing in other little companies that are not like the
40 be about doing that. You know, you know what you might want to do, Aaron, you might want to get an AI ETF, so you're not putting all your money on one, which in my opinion would be in video, but you're not putting all your eggs in one basket.
But uh and I don't think there's anything wrong buying a video either, but especially on pullbacks, but by buying an ETF and then average app because I'll tell you what.
I, I am positive. I could be wrong, I've certainly been wrong many times before, but I am positive AI is gonna change the world. I am also positive that this is like investing in the internet. I mean, I miss the internet.
I mean, I didn't because I owned, you know, I owned Apple and I own Microsoft, but the point is it was way bigger than I thought it was gonna be. Smartphones, way bigger than I thought they were gonna be, you know, I, I bought Apple because of, uh, what was a little music player they had Aaron? Oh, the little iPod iPod. I, I bought that because of iPods and it just so happened they invented iPhones right after that, and I got lucky. Um, but, but the point is this, this is gonna be a game changer, folks, and, and you should have some money in AI.
And and the safest way to do that is an AI ETF and you can easily look up, which I do stuff like this all the time, just go to go to AI or go to Google and say, what's the best AI ETF? Just like that, and then do a little reading and buy some of this, because this stuff is gonna change the world, and I, and maybe not in totally positive ways either, uh, because a lot of people, a lot of people, I, I'm doing stories now with AI that cost me less than a cent.
And and I'm paying people $500 to write stories.
Uh, for this website. So, you know, this is a game changer. It's a game changer for me as a website owner. It's also a game changer for people who are charging me $500 to write a story. Now let me hasten to add that the AI stories are not as good as the stories that are sourced by real humans and went to college and are journalists, um, but how far away is that future when it will be? So if I'm, if I'm that writer or that video producer like you, Aaron, I, I, I might be concerned about my future.
It's, it's tough. I, I read, I read a lot about this stuff, and there's there's two sides of the coin to this thing. There's a lot of people that are positive who are actually, you know, people that are pushing it, and there's a lot of people that are in the game. They're actually coders, they're actually ones doing this, and they're saying, I don't see anything good for society out of this
thing. I can't imagine that a lot of people aren't gonna lose their jobs, right?
And that's why they're saying like everybody, everybody pretty much in AI world from physicists to to mathematicians to to coders are all saying.
This is going down, if anybody ever said saw Star Trek, you know, that next generation show where, you know, pretty much everything is given to you, where, you know, technology is so free and so cheap that you can pretty much make things out of thin air.
They're saying this is where it's going eventually, but there's a utopia ahead, but the problem is is that they're saying there's going to be this middle part which is gonna be a little bit
rough.
Yeah, and this genie is out of the bottle. I mean it's gonna happen.
But I agree with you in saying like if you invest in it and you're part of the investor group.
It might help you in in what you call it hedging the uh through the turmoil.
I'm never
100% certain about any investment, but I'm pretty sure about this one.
Uh, and, and that doesn't mean I'm inviting people to sue me if it goes south, but I think AI is looking pretty good, and actually, Erin, that should be the topic of our next podcast. We should talk about AI, the pluses, the minuses, how to invest in it. Let's do that on our next podcast. Yeah,
we can
do that, we can do that.
Uh, and I want to remind everyone to make sure if you're not a member of Money Talks News, go to MoneytalksNews.com, sign up for our free newsletter. Uh, you can follow us on YouTube, which presumably you're doing if you're watching this.
Uh, and you can, we're on Instagram and we're on what else here? We're we're everywhere you can be. So, uh, subscribe, listen, and we will be back in any, any closing thoughts, Aaron? Are you good?
No, I'm, you know, I'm like you. I'm still like wondering what's gonna happen. I mean, I'm, I'm, I'm really waiting January 20th to see what this guy does right off the bat.
I think we can assume whatever it is, it's gonna be newsworthy. We're
gonna have some
headlines talking about this all year long.
So folks, keep your eye on the 10 year. Make sure you know if it started approaching 5%, get a little nervous. The stock market will probably start going down when that happens, and keep an eye on that horse in the hospital.
You guys have a great day, and we will talk to you soon, later on.
Bye.