Afternoon podcast 9-23-26

SPEAKER_1 (0:00)

Welcome to the afternoon Rob Black Show podcast, a guaranteed human podcast, which can also be heard on AM 1220 KDOW weekdays at 5 p.m. and on 860 AM The Answer weeknights at 11 p.m. The views and opinions expressed in the program are not necessarily those of this radio station or its sponsors and should not be construed as legal tax or investment advice. You should always consult the appropriate advisor before making any financial decision, all rights reserved.

SPEAKER_2 (0:31)

Now, new focus on wealth, new focus on wealth, get a new focus on personal finance, wealth management, Wall Street, and the economy. Now, Rob Black.

Rob Black (0:44)

Treasury yields are soaring. Scott Besson's trying to stop them and fails. You cannot financially engineer a fix to the United States debt. And how it continues to climb and how politicians think, let's get re-elected, let's issue more debt. Wall Street's saying, hey, like your cousin, if you don't have a job and you happen to be a loser in life and you keep borrowing money, I'm going to charge you more every time you borrow money because I want to get a return on my investment. That's what's happening with treasury market right now. On top of the treasury market doesn't think the Federal Reserve is serious about fighting inflation.

That's a big story for Wall Street. Wow.

Trump right now is meeting with President Xi. Chinese automakers could be a Pandora's box for the US auto industry. What are they going to get done? Is it going to be AI.? Is it going to be the automotive industry? Is it going to be soybeans? I don't think anything.

SPEAKER_4 (1:50)

I will tell you at the time.

Rob Black (1:51)

I'll keep you in suspense. I know that in Canada, he could buy a Chinese EV, and part of me wants to go to Canada, not to live, but to get an EV.

I'd have to figure out, can I do a... Can I register in the United States? And what's that mean?

Patrick O'Hare (2:05)

Take off, you hosers.

Rob Black (2:07)

That's kind of the drama we're dealing with on Wall Street right now. There's a lot to think about, and I'm actually pretty good with that. Let's talk about what we saw in market numbers today. Yeah, and again, this is the worst part and the best part about being associated with my show. I do a TV show in the morning. I hit the morning news, and when the market's down, they're like, Rob, tell us, why's the market down? I'm so concerned. I'm like, we closed in an all-time high yesterday on the NASDAQ.

We're one half of 1% away from an all-time high on the S&P 500 Your 401k, if you opened it today, you'd be like, wow, I'm worth more than I thought a month ago, a quarter ago, a year ago.

Patrick O'Hare (2:57)

All right, all right, all right.

Rob Black (2:59)

But media doesn't get that. Media sees like, oh, we are down 100 points. We're down today. It's all red. All stocks are losing. And I'm like, you take the good, you take the bad, and there you have the facts of life. A lot like that horrible TV show in the 1980s. Your favorite song of all time. No, that's no one's favorite song. It's an awful TV show song. But you do take the good and the bad. It's part of the game with Wall Street. 70% of the time, we're hitting new highs year over year. Not every single day is a guarantee. I believe in capitalism. Would you rather, and I'm going to ask you to put your hand above your eyes right now, would you rather own Italian stocks, Russian stocks, Chinese stocks, Cambodian stocks, or the US stock market?

I hope you picked capitalism in the US stock market with the S&P 500

No, no, no, no, I do not want to become president of the United States. What an ungrateful job that would be.

SPEAKER_1 (4:13)

Washington's made things worse.

Rob Black (4:15)

Can you imagine them digging into my past? Only Mackerel is married to for less than a year to a girl who happened to be a Playboy model who happened to leave me for not, she didn't leave me. I kicked. I ended things when there was another guy reaching out to her and she wasn't being honest about it. Could you imagine me running for president?

OK, and then you see like Giada de la Renta's kicked off of dancing with the stars. You're like, I'm never running for office again.

I'm not going to say she did nothing wrong, but come on, she did nothing wrong. And I only know that because of headlines, because I can't possibly watch that show. I'm way too busy. Let's talk about what happened on Wall Street today and get back into it. The major averages finished broadly lower as a sharp increase in treasury yield and another rise in crude oil weighed on the markets. Simi Keducker and Megacap Growth Stocks gave back some of their strong gains from earlier in the week, but there's always tomorrow, as little orphan Annie would say.