Fed Hikes Rates, Oil Affordability Crisis & Paramount Threatens California Exit

SPEAKER_1 (0:10)

Adam, what's your point?

Patrick Bet-David (0:12)

The future looks bright.

Will Witt (0:16)

It's right here.

Jeff Snyder (0:20)

I think I've ever said this before.

Patrick Bet-David (0:27)

Okay, just so you guys know, I got some bad news. I don't know if you guys heard this or not. This just happened. A lot of people are not happy about this. Forbes 400 list billionaires.

Do you know 590 billionaires were not rich enough to make it on the Forbes 400 list? Catastrophic, times are hard. You know, and a number came out saying, Americans income hits record high. Then people are like, wait a minute, whose income is hitting record high? Top is hitting record high, but at the same time, lower earners lose ground. So the whole concept of rich getting rich, or poor getting poor affordability, we got some of that that we'll be talking about today.

Humberto came in today pissed off. He parked his car 500 yards away and he walked to you because he's trying to save money on gas. So he parked, no longer, he walks, he was sweating, it was wet, you know, he knows what I'm talking about.

Adam Sosnick (1:14)

His mustache all un-groomed.

Patrick Bet-David (1:16)

His mustache. Look, as much as we're laughing, having fun with this, people are having a challenging time with gas prices. We're seeing it with diesel and I'm sure you saw the story on JPMorgan Chase. They're asking the JPMorgan Chase analysts and they're saying, can you model what's going to happen with oil prices? I don't have a clue what the hell is going on. When have you heard an analyst saying, I can't predict what's going to happen with the marketplace? And because of that, we decided to bring two guys in, John Eider, Jeff, very smart guy. He comes here, he gives us a workout here. Him and Tom fight it out on who's more smart. It gets both of them going a little bit, which is good competition. We like that.

Tom Ellsworth (1:54)

I don't think we fight.

Patrick Bet-David (1:55)

No, you fight a lot. You guys fight hardcore.

Jeff Snyder (1:57)

That's all fair, though.

Patrick Bet-David (1:59)

That's all fair. And then we also have the good-looking handsome. Could have gone a different direction in his life. Could have gone on Hollywood, maybe done Top Gun 3 I don't know. He could have done a complete different direction, but we got the great Will Witt here with us as well. So with that being said, let's get right into it.

Adam Sosnick (2:13)

I'm glad we put them in the middle of these two, so they're not fighting over brains.

Jeff Snyder (2:16)

No, you don't need the brains.

Adam Sosnick (2:17)

Let the good-looking guys get it.

Patrick Bet-David (2:19)

When we need sports commentary, we're going to go to Will.

Jeff Snyder (2:21)

We have to. Will knows a lot about sports.

Patrick Bet-David (2:24)

He just made it very clear on how much sports he watched growing up, and maybe he'll share that story with you. Yeah, exactly. So, okay, Paramount leaving California. Where are they going? Nobody knows. There's some speculation, but what everybody knows is they're leaving California. Why would a company leave California? It's not like they're doing anything bad. Alicia, you can bring in no problem, but they're leaving California. Number two, Massey wants to impeach Hexed.

Johnson wants to shut down the government. Massey's saying, why are we doing this if we're about to lose midterms? We've got only a few months left to fix this. Others are saying, why are you going after Hexed? This is not the way of doing it. Maybe we'll have that conversation here together. Then you have the Fed rate increase that happened. Kevin Warsh, Tom was panicking for a few weeks, worried about if that was going to happen or not. It did. Rates went up. A court of a basis point, he came out, and some say he's trying to be his own man. Some say he made the right decision. Some are upset at it. The bonds folks, what's his name, Jeffery Gunlack, he thinks it needs to go up even another point. Trump thinks it needs to go down to 1%.

We'll have that conversation, how it impacts you as the individual that's going through this. And then we talked about that in a minute. Houthi's drone strike over Mecca, and Saudi's like, wait, what are you doing? That wasn't us. We would never do such a thing. It was you. No, we would never do such a thing like that. So now Saudi's coming up to ask Trump for help. Trump is saying, we're not going to be involved. We'll get into that story as well. Rogan says if AI was running the world, there would be no wars. He says he thinks AI running the government would stop all wars on the planet. You guys don't even know that's one of the stories. I kind of want to know what you think about it. Would it be better? Would we have more wars, less wars? Would there even be mankind for there to be no wars? Who knows? Maybe it sparks a good conversation. And then we got Vivek Ramaswamy, once a superstar on the Republican side, now going against Amy in Ohio. The Cauchy numbers came up, and the Cauchy numbers are not looking favorable for Vivek. And maybe we can talk about why that happened, why that's happening. And then Cash Patel, you know, I'm watching Kennedy. What's his name? What's the gentleman's name? John Kennedy? He's phenomenal. He's asking Cash, I heard you changed the requirements to be an FBI agent. We did.