Foreign foreign 's been helping me for a long time. I guess he doesn't know any better and speaking to help from a long time. A brand new guy in town, a guy who uh I told him that being married I think is the toughest job in America and know where you live and every time you walk in the grocery store you get questions but congratulations Mr Mayor and I think this has been doing a good job mayor Brandon Johnson look uh you know, uh there's a guy that helped me more than I can say this without equivocation helped me more than anybody in America get elected last time single person your Governor he stepped up, he raised money, he raised support Governor you're the best! Thank you for being such a good friend I Really do I like hanging around with heroines like Tammy Duckworth Tammy God Love you. He loves heroin but you know what? Uh, my good friend Dick Durbin and he is a good friend.

We've worked together a long, long time in the United States Senate He's the single most effective senator in getting things done. That's not a joke. it's not just Judiciary Committee He's made sure that we've got more judges appointed that we we've appointed more African-American women to the executive, to the federal bench and any other. every other president combined and he got the first and brightest Justice Patanji Brown she got I said I was going to put a black woman on the court and he put her on the court for me.

He put her on the court for me. Dick, you really are the best man. And by the way, when I have questions about just about any anything at all beyond the Judiciary can I still call him anyway for his advice. So thank you and uh representative Danny Davis Danny You've been a good friend for a long time.

he's always there and to all the elected officials member of Congress elected officials here today. Thank you thank you for the welcome and welcome me to Chicago You know first quarter of the 20th century. The poet Carl Sandberg described Chicago as a city of big shoulders. a city of big shoulders.

He was describing the big shoulders of the working class American town who were building this city the same time building the middle class. I'm here in Chicago today for the first quarter of the 21st century to talk about the economic vision for this country. the economy that grows the economy from the middle out the bottom up instead of just the top down. When that happens, everybody does well.

The wealthy still do it. Everybody does well the forever. Ladder Up And the wealthy still do well. We all do well.

This vision is a fundamental break of the economic theory that has failed America's middle class for decades. now. It's called trickle-down Economics Fundamental Economics trickle down. The idea was it's believe that we should cut taxes for the wealthy and big corporations.

and I know some of big corporations. There's more corporations in Delaware Incorporated than every other state in the Union combined. I Want them to do well, but I'm tired of waiting for the trickle down. It doesn't come very quickly.

Not much trickle down in my Dad's kitchen table growing up. And it's a belief that we should shrink public investment in infrastructure and public education. shrink it, That we should let good jobs get shipped overseas. and we actually have a tax policy that encourages them to go overseas to save money.

We should let big corporations amass more power while making it harder to join a union. I meant what I said when I said I'm going to be the pro, most pro-union president of American history and I make no apologies for it My predecessor, if my mom are here God bless his soul, my predecessor enacted the latest iteration of a fail of the failed Theory tax cuts for the wealthy. It wasn't paid for and an estimated cost of his tax cut was two trillion dollars. Two trillion dollars now Republicans are at it again, pushing tax cuts for large corporations and wealthy and adding trillions of dollars to the deficit.

Trillions folks, let me say it as clearly as I Can trickle-down approach failed the middle class. It failed America It blew up the deficit. It increased inequity and a week in our infrastructure it stripped to dignity, pride and hope out of communities one after another, particularly through the Midwest Western Pennsylvania And West people working as hard as ever couldn't get ahead because it's harder to buy a home, pay for college education, start a business, Retire with dignity. First time in a generation the path of middle class seemed Out Of Reach and I Don't think it's hyperbole I think it's a fact no matter whether you're a Democrat Republican or independent I Know we couldn't go back to the same failed policies when I ran.

So I came into office, determined to change the economic direction of this country to move from trickle-down economics to it. Everyone on Wall Street Journal and Financial Times began to call Vynomics I didn't come up with the name I Literally just heard about it today. It really did. I Now claim it, but they're the ones that use it first.

I Got asked by a press person this morning getting on the helicopter in. Washington Why? when I asked about bidenomics a long time you said you didn't know what it was I said I didn't name it by anomics I didn't realize the economist of the Wall Street Journal did. but I think it's a plan that I was I'm happy to call binomics and guess what Dynamics is working. When I took office, the pandemic was raging and our economy was reeling.

Supply Chains are broken. Millions of people unemployed, hundreds of thousands of small businesses on the verge of closing after so many had already closed. literally hundreds of thousands on the verge of closing today. The U.S has the highest economic growth rate leading the world economies since the pandemic, the highest in the world.

As Dick said, it is up. We've created 13.4 million new jobs, more jobs in two years than any President has ever made in four and two Folks, it's no accident that's by nomics in action. By Dynamics is about building an economy from the middle out and the bottom up, not the top down. And there are three fundamental changes that we decided to make with help: Congress have been able to do it: first, making smart investments in America, second, educated and empowering American workers to grow the middle class, and third, promoting competition to lower costs to help small businesses.

Here's what I mean by all this under trickle-down economics. It didn't matter whether you made things, as long as you helped companies. Bottom line: any of that meant seeing jobs and industries go overseas for cheaper labor Supply chains and Key Products moved overseas like China and much of Asia the entire towns and communities from where I live all the way out there and through the Midwest were shut down hollowed out I Mean literally hollowed out all over the country. Parents have to say that many of you all elected officials heard people tell you this had to say to their children honey I Lost my job I Can't live anymore we got to move trickle down Also man slashing public investment on things that help Drive long-term growth and helped America lead the world into Innovation We used to invest two percent of our gross domestic product and research and development.

By the time I came to office, that was down to 0.7 percent. We used to be number one in the world in research and development. That's what we're known for. Now we rank number nine in the world China decades ago was number eight in the world.

Now it's number two in the world and other nations are closing in fast. We used to have the best infrastructure in the world roads Bridges Etc but then we felt a third graded 13th best. Inner say uh uh um investment and infrastructure 2-13 How can you have the best economy in the world without the best infrastructure in the world? How do you get product from one place to another? I was out in Pittsburgh recently the city of Bridges bridges collapsing all over that Nation you've seen on television railroad bridge is collapsing. Five nomics were turning this around or supporting targeted Investments or strengthening America's Economic Security Our national security, our energy security and our climate security I Designed and we signed a bipartisan infrastructure law.

It's already announced and I heard some of the speakers before touting some of it. It's already announced 35 000 projects across the country. Think of it this way: Nearly a century ago, Franklin Roosevelt's Rural Electrification Act for Electrification brought electricity to millions of Americans in Rural America 70 years ago, Dwight Eisenhower launched the Interstate Highway System, a large infrastructure project to date in history. That's what the bipartisan Infrastructure Law does.

It will be for our kids and grandkids only bigger. Just last week we announced our plan to bring affordable, high-speed internet to end the decade of unaffordable and unaccessible internet to every home in America every small business in America And so no one's surprise, it's no one's surprise. Let's bring along some converts. People strenuously opposed voting against it.

When we have had this going on, they were this was going to bankrupt America Well, there's a guy named Tuberville from Alabama from Alabama Big Insider I Strongly opposed the legislation. now he's healing his passage. Here's what he said: Quote: It's great to see Alabama receive critical funds to boost ongoing Broadband efforts. We're replacing every single lead pipe in this country and putting our husbands, our children's health back directly.

Four hundred thousand schools, 10 million homes for fixing crumbling Bridges Upgrading our power grid, renovating our airports and ports. It's ridiculous. One of you talked about that. How how important that is for the Great Lakes as well.

Last week we reopened I-95 back where I live and you go up the East Coast It's a one of the most important links in the entire East Coast Well guess what? less than we a guy driving a truck hit a but anyway knocked down a whole bridge and the whole box four lanes of the highway I went up there I said we're going to get this the number one project to get done within one week of my being there. Two weeks of happening. tanker trucks that crashed and caused this overpass that that has a hundred and fifty thousand Vehicles travel on every day and 14 000 trucks. It's critical our economy.

We did it with union workers. We closed all the loopholes we used all American products All American Materials We use federal infrastructure projects made in America made in America not a slogan. it's actually happening. You know when Roosevelt passed the legislation in the 30s about unions being able to be engaged everything to just legalize unions.

It said we should encourage unions. There was a little provision there, but very few presidents paid attention to it said buy America That meant that if a president was given money by the Congress to build, say, a new, decadent aircraft carrier, whatever it was, he or she was supposed to use 100 American labor and 100 American Products It hardly happened. They get exceptions down to 30 percent and so I changed all that. We're all now investing in key industries of the future making targeted Investments to promote domestic production of semiconductors, batteries, electric cars, clean energy.

Under the trickle-down economic theory was that public investment would discourage private investment. Give me a break. We want to see a whole lot of major corporations that are you more or less likely to invest in. The government invest Overwhelmingly, they had it backwards.

They said no, we're more likely investor the government invest. Public investment declined here at home indices that we invented started to move overseas like semiconductors I Want to remind you America invented these chips small computer chips the size of the tip of your finger, that effectively everything in your life from whether your cell phone functions your automobiles can be built, refrigerators work, it goes on and on into sophisticated weapon system. It's all in that little without that computer chip. We got a real problem, but over time we went from producing 40 percent of those World chips down to 10 percent.

Not anymore. Find economics Being the industry, the future is going to grow right here at home at home. I Mean it not a joke. Under Five Nomics, we've already had over 490 billion dollars in private investment commitments.

490 billion from U.S Companies and companies around the world coming to the United States of America working with our Global Partners Americans investments in clean energy technology I could reduce carbon emissions, continue to lower the cost of. When you talked about the wind farm you're talking about, you know it's already cheaper. wind and solar already significantly cheaper than coal and oil. You're not going to see anybody building a new coal-fired plant in America Not just because I'd like to pass a law to say that it's too expensive.

It doesn't work anymore. Solar power is not just here, but around the world. and we used to be the center of building these solar panels. We're coming back and doing it again.

America is going to lead again. Sorry for the show Look not the best audio balancing The win for the world A Bill's on my decision to rejoin the Paris climb First day at first day. By the way, my predecessor talked a lot about increasing manufacturing. Remember Infrastructure Week Infrastructure We became Infrastructure Week and week.

and week. and week and week never happened. We got infrastructure decade done right off the bat, but in reality, destruction of manufacturing facilities here on U.S Soil grow only two percent on my predecessor's watch. In four years, two percent, my watch has grown nearly 100.

In two years, 100 percent. The top of all the members of Congress are here and I'm not being solicitous. look Weirton West Virginia Used to wear steel mill closed and the beginning of this century and 2001 or two in that range and employed thousands, had thousands of good paying jobs. They were lost.

but today with the help of inflection reduction inflation reduction Act a new plant is being built building iron air batteries. but you're going to help store energy and these batteries can help store energy and it's being built on the same exact site. Bringing back 750 good paying jobs, bringing back a sense of Pride and hope for the future for all the people who wear to and surrounding areas. I Believe every American willing to work hard should be able to say where they grew up and stay where they grew up.

That's binomics, you know. My dad used to have an expression to Joey and I would give my word as you say, my dad was a well-read guy, never got to go to college and a hard-working gentleman. We had dinner at where we incidentally had conversation and incidentally ate my dad. You say remember, a job's about a lot more than a paycheck I mean is to give my word a lot more than a paycheck Joey It's about your dignity.

It's about Pride It's about being able to look your kid in the eye and say honey, it's going to be okay. Think about it. I mean literal sense Think about that. It's about your dignity, how you're treated and being able to make the living.

You can tell your kids it's going to be okay. The second big part of Dynamics and empowering American workers. When I took office, unemployment was over six percent, but the American Rescue plan we provided relief and support directly to working class families. Our economy came roaring back.

Unemployment dipped below four percent by the end of my first year in office. Now it's been below four percent for the longest stretching 50 years of American history and I Must admit I concentrated on what we've seen. With the help of Jesse Jackson's Legacy and a lot of other people here, we've seen: record low unemployment for African Americans record low unemployment for African Americans and Hispanic workers with Disabilities the lowest unemployment rate in 70 years for American women and you make up half the economy and probably two-thirds of the grade. Oh, really.

think about it. You see half the economy and two-thirds of the brains to pause for a second when I was trying to get name me a time when you thought any Democrat would get the endorsement every within a week. Every single environment. Is that what he said.

Two-thirds of the brain AFL team the women's groups I mean here's the deal: One sat with the AFL-CIO when I sat with the Ibw starting when I ran last time. I Said here's the deal though: I'm going to be the most pro-american of most pro-union president history, but you've got to employ more women. You got to attract more. African-Americans You got to track more minorities in every industry from anywhere.

I've go to these sites where they're trained. and by the way, the other thing. I've told labor guys, you got to brag a little bit more about what you do you realize to get a license to be an electrician in this town or any other, you got to essentially go to four years of college. You have to go through an apprenticeship that takes you four years to five depending or you can't get a job.

You get paid a little bit, but you can't get your license to be an electrician a labor electrician. Until that happens. Look, pay for low-wage workers have grown in the fastest. Pace In over two decades, full employment means workers especially low wage workers having more bargaining power to demand good pay to secure, secure, good jobs.

And this is a thing that didn't consider. Market's really not doing anything and vomitage into the start of this talk. But since the talk hasn't done, Squad 36-year High More people are satisfied with their jobs at any time in 36 years and the shame of working age Americans in the workforce. The share of that a share of them is the highest it's been in 20 years.

Remember what we're saying Biden Policy isn't working, he's just paying people not to work people on the sidelines. Well, guess what? Every single day in four years before I took office you may remember took a lot of criticism in my presidency Republicans Charged we were encouraging people to stay home, not work well. They were wrong. The evidence is clear Americans are back to work who've been in the sidelines and they want to come back.

We're going to continue this progress and make sure every American has the training education to participate in this new economy. We've increased. Pell Grants Made Landmark investments in historic black universities. We've invested more in registered apprenticeships and centered and career technology education program than any previous administration in American history.

Because of this new economy, we don't need everyone to have a four-year degree. It's great if you can get one. We're trying to make it easier for you to get one, but you don't need it to get a good paying job anymore. Think of this: how many of you remember going back to high school? Market's picking up a bit classes where people can learn.

if they were interested in working with their hands, they don't have them very much anywhere around the country. Well, my wife teaches at a community college full-time Still, she has an expression: She said, any country that out competes us that I'll assuming out educates us well I'll compete us. We're not going to let that happen. That's why we're investing significantly in education.

I'm determined to keep fighting for Universal Pre-K and free Community College We're also fighting to make but also trying to make child care more affordable because we know one benefit is that it opens up significant opportunities for parents to be able to go back and join the workforce. We're also making it easier to empower workers by making it easier to join a union. As I said. I Promise to be in those pro-union president history and I tell Business Leaders all the time our union workers are the best in the world.

It takes four to five years on that apprenticeship. It's like going to college. They'll do the right job on time. Long-term costs for business is less.

You know, addressing the 40-year decline in unionization by supporting project labor agreements collect the bargainy, prevailing wage laws. That's the reason today America's support Union is higher than it's been in 60 years. 60 years By the way. I Met with the Business Roundtable mothers.

they said, why am I so pro-union I said because it helps you it really does. Think about it, the total cost of a major project goes down when you have the best workers in the world doing it. Not a joke, it's true. Last long, you don't have to worry about whether that that socket's going to work.

Look, young people are organizing new companies and industries you know I've I've indicated labor to labor leaders. They must expand their ranks as I said. more women, more minorities. That's what you got to do.

Third part of Biden economics is promote promoting competition because when companies have to compete on Level Playing Field they have to work harder to attract customers. I recruit and retrain workers. Some of you business people here know that well in front of the trickle-down economic theory. Three quarters of U.S Industries grew more consecrated I mean excuse me consecrated I'm thinking I didn't go to Mass they were moving to diminish competition.

Well, that may have been things. What just happened for everybody else made it harder, more expensive. Got Carter For business small businesses to compete, it's stifle integration to reduce wages for for workers and it made our supply chains more vulnerable. So folks, that's been the Republican plan so far.

Good for big business, bad for everybody else. it's not even that good for big business anymore. When I came to office with a very different plan: a limited conservation of power at the expense of consumers I think he means concentration. We're back in the beat enforcing antitrust laws.

My Administration is working to crack down on what we used to call non-compete agreements. We still call them that. These prevent 30 million Americans from security guards to retail workers and walking across the street to the same kind of business and getting a higher pay, getting five bucks more a week or 10 bucks more a week Non-compete agreements. It's one thing to have non-competed agreements you're dealing with.

Trade Secrets It's another thing when you're doing the same thing or flipping a hamburger and then you get five cents quarter by walking across the street to a different place. We also what if it's really good or supporting small businesses you know? Vice President Harris has prioritized providing support and capital for small business owners including for Rural minorities and women entrepreneurs including through a brand new program that's already helping deliver billions of dollars in growth capital small businesses in every state. We've seen a record 10.5 million applications 10.5 million applications Folks looking to start a small business just in the last two years. 10.5 every one of those applications is an application of Hope hope.

Competition also means lowering costs for consumers. Bringing down inflation remains one of my top priorities today. Inflation is less than half, less than half of what it was a year ago. And then inflation caused by Russia attacked by the war in Ukraine and by what's going on.

but we knew we had. inflation was caused by what was going on. Technically not wrong. It was caused by what was going on Joey He said at the end of the month.

The question is, after you pay all your bills, do you have just a little left for breathing room? Just a little less for breathing room. All your bills paid. Do you have anything left? Well, inflation of eats into that obviously. But guess what? Bringing Down The cost of medication goes a long way to giving you a little more.

That's why through the Inflation Reduction Act, we finally gave Medicare the power to negotiate lower prescription drug prices like the VA does. Now if you're trying to get this done Dick and I for decades in the Senate, this time, we finally beat Big Farmer for the first time. Big Dick, you know, same drug made by the same American company sold in Chicago Nothing you can't take on with a Big Dick on your side Great Britain in uh France Germany any any City you can name for real now seniors on Medicare are paying as much as 400 less for who are paying 400 a month for insulin last year are now paying 35 a month because guess what? You know how much it cost to make that insulin? 10 t-e-n dollars package it maybe 12 total and the guy who invented this one didn't even ask for a patent because he wanted everybody to have access to it. We're just finishing the first round of negotiating.

Drug crisis and we'll say the taxpayers this year: 160 billion dollars. That's like a tax bill, lowers the cost of positioning jobs and the lowers the federal deficit as well. Health care coverage for more Americans Building on Barack's Affordable Care Act You know why we're doing that I'm proud to strengthen that act, saving average families 800 a year on their health care premiums. We're also fighting in junk fees.

Most people don't think of it that well. Here's a Junk Fears: They can add up to 100 hundreds of dollars a month for family. like that. extra fee when you say I want my child to sit next to me when I take him to see Grandpa on the West Coast it's not listed now hotel Resort fees Was he talking about Airlines You know that ad in television mine is 200? his is 180.

Well guess what or the one that bothers me the most is overdraft fees for banks. The banks made 7.7 billion dollars a year. We're making some interesting jumps here Airlines hotels to Banks and he didn't really tee us up for it, but he had a he had a yacht. a name of the yacht was overdraft I Swear to God Well guess what, there'll be no more overdraft fees Folks, they're doing this doing all this, reducing the deficit at the same time.

Just in my first two years in office, my team and I have reduced the deficit by 1.7 trillion dollars. Only any president just in two years didn't the debt just hit 32 trillion? The budget agreement like a record. having to give away anything of constant reduce deaths by another trillion dollars you know, reversing 40 Years of Republicans But what about the record high debt that helped few but hurt the middle class? It's going to take some time and we're what we're in a place or some big pieces and we're moving in. a Direction Where We can get some more done and people see it what I'm doing and I knew I'd have to do this.

all those major legislations to be passed. People go. That's great but it takes time to get it out in the field, takes time for them to see it And I'm not here to declare Victory on the economy I'm here to say we have a plan that's turning things around incredibly quickly. Well, you have more work to do.

For example, does anyone here think the Federal tax system is fair? Raise your hand no matter how much money you make. We're going to make it fair by eliminating loopholes or crypto. Traders Hedge Fund Managers Big Oil made 200 billion dollars last year. Is he targeting us Thirty thousand dollars by Sheba My Doge You had billionaires to pay up a little bit at least the minimum tax.

You know when we when we began, there were 750 before the pandemic, 750 billionaires in America Now there are a thousand. You know how much your average tax is. They pay Federal tax. Eight percent taxes.

No billionaires should pay lower tax rate than a school teacher, a firefighter, a cop. I Mean this is. this is so dishonest of how this is. Yeah, their monies in the stock they own.

It's not like they're getting billions in their bank accounting. It's so dishonest. It's 130 percent. We've raised billions and billions of dollars, lowering the deficit, allowing us to pay for so much more we have to do.

That's the next phase of this fight: Making the tax code fair for everyone, making the wealthy in the super wealthy and big corporations begin to pay their fair share without raising taxes at all on the middle class. I made a commitment I Got elected Isn't the top one percent, no 50 of our taxes or some like crazy metric like that, you ever have to pay a single penny more in federal taxes As long as I'm president and I've checked that promise and four hundred thousand dollars, a lot of money where I come from. Let me close to this: I came when I came to office I had a fundamental decision to make. We're going to continue to trickle-down economic as a policy that's failed time and again and grew in inequality that saw Jobs go overseas and Shaw and you've seen it out here.

towns hollowed out I ran in the promise I was going to end this and that I began to build an economy from the middle out and the bottom up. We're not going to continue down the trickle-down path as long as I'm president. This is the moment we're finally going to make a break and move away from economy as existed in a fundamentally different direction. Here's a simple truth about trickle-down economics.

It did represent the best of American capitalism let alone America and represented a moment where we walked away how many in this country from how this country was built, how this city was built, Dynamics is about the future Right now. it's just another way of saying restore the American dream because it worked before. It's rooted in what we've always worked best at in this country. Investing in America Investing in Americans because when we invest in our people, we strengthen the middle class.

We see the economy grow that benefits all Americans That's the American dream. 40 Years of Trickle Down limited that dream. For those except for those at the top. Too many for too long have seemingly suggested that it's only available if you have a four-year college degree.

you can work at a teacher or work at a tech center. These new factories that are open. these Fabs they're opening for semiconductors. without a college degree, you're going to make 100 230 000 a year working those fast 100 230 000 a year.

I Believe that every American willing to work hard where they are and the Heartland in small towns 120 part of this country to raise their kids on a good paycheck and keep the roots where they grew up. That's fine. knowledge. I Think the economic philosophy is not going to restore the American dream that we have now that philosophy but there's new and Will it's going to help and I think it's going to help lessen the division of this country by bringing this back together.

It makes it awful hard to demagogue something when it's working, although they do it all the time. I've long said and I mean this: I was on the Tibetan plateau with Xi Jinping I traveled 17 000 miles from him I've spoke with him more than any other state Because it started when I was vice president and president who was the president and he was the vice president, we knew he was going to be successful. It was inappropriate for Barack to spend that time, but I I spent a lot of time I met alone with him, just he and I and a simultaneous interpreter. 68 times 68 hours 68 times more than 68 hours By the way I turned in all my notes um but it's the gods truth.

He asked me bring it to Ben plateau and he asked me. he said can you define America for me I suggest in one word and I meant it. Possibilities Possibilities we're a land of possibilities I told him has never been a good bet to bet against America never Micron Isis Mary I Can honestly say I've never heard America yeah never more optimistic America States of America everybody. Nothing nothing beyond our capacity if we work together.

So God bless you all and may God protect our troops. Thank you thank you thank you um Christopher America America America let's play that play that from America one more time for America Audio in audio out America I Like to call this a man Ruka cause that's what the hell it is America All right, how's the market looking on that? uh, bouncing a little bit now that it's done. What a vomit into it. So I got knocked out around here about 12 25.

We ended the stream I don't know 12 30s I was knocked out around 4 36.50 and this is why I'm super super super super duper happy that I had some stop losses because I would have been demolished I would have been demoed. it would have been thoroughly painful. Hang on I need to delete this so a random Biden thing doesn't pop up next time. Uh Delete Okay, cool cool.

Bean Check this out. Look how fast I can move. Where is he going next? Top, left, bottom, right. Where's he going? Where's he going? Can't catch me? Can't catch me? What? What? What? What? What? What.

What. What. What. What.

What. What. What. What.

What. What? Where's he going next? Where's he going next? Where's he going next? Where's he going next? Where's he going next? Boom surprise you losers. Didn't see that coming. Oh I need more friends I I think that's my biggest issue honestly.

Um I just don't think I was given enough attention as a child and now I'm just like forever searching for it. Uh, just forever forever searching for it. Um, so where are we at? Well I'm gonna let you in on a little secret here. I'm gonna Lich in on a little bit of a secret I bought on this breakout right here I saw so I got out early today I didn't really announce this or anything but I just want to let you know like some of my thought process whether wrong, right, or indifferent I just wanted to share some of my old Thoughts with you so we could all admit Market vomited pretty hard but I'm also looking for Longs like my my brain was geared for Longs today because of what we saw on the daily chart yesterday.

strong breakout, higher highs, higher lows. it seems like maybe we had a change of Trend will it change Trend I don't know but we saw this vomit I was like okay, interesting. maybe we could get some sort of over extension. So sold.

So so sold I was like interesting and then we seem to bounce off of the high from two days ago. Bounce right here. Okay, cool. right at 1 pm we sold into it Biden started speaking at 1pm.

we sold hard into that. basically from 12 15 to 1 pm. Market Sold! So so sold and we got a bit of a bounce here and when you get a bit of a bounce, you're like okay, is it a dead cat bounce? What is it? blah blah blah And then it seemed like we started to push at around 106.. let's get a little bit more detailed here.

We got a little bit of a push between 105 and 107. so it made this high right here. Which here I'll put this horizontal line just so you can see a little bit of what I'm talking about I'm like okay, cool. uh if it breaks above it, I'll probably get in because it's a fresh high off of higher lows.

and when I say higher lows I'm literally looking at this thingamajiggy. Nope, not that one. not that thingy. Majiggy.

this thingy majiggy. So I'm looking at this thingamajig. I'm like, okay, higher lows. let's see if we get this breakout.

I could risk this low. so I basically got some long position right here. um to play that breakout I was feeling real good about it because I was like oh wow, we broke Above This High looks like we're going up here to 436 30. I'll be able to take my profit.

Uh easy, easy peasy, lemon squeezies. uh easy. A cup of cake? uh cup of cake. cup of coffee? slice the cake.

Um obviously I got a little bit too overzealous because the market gods are punishing me because we got smacked anyway. but that was my reasoning. My reasoning was this was we sold hard, we bounced, we made a fresh High fresh High a higher high, a higher low and then on the momentum in here. this somewhere roughly in here I went long and then I was feeling real good and then at 1 30 we got crushed so that that's not so cool.

So I currently have a long position Uh, based on my entry, I should roughly be Break Even uh I am I'm actually just break even right now. So I guess if it gets much worse I might just cut it for a little bit of a baby loss. a little bit of a boo-boo but man, I was up well now I Just feel silly. but uh, that's kind of where I'm at.

I mean because that was a hard smack I mean they didn't need us to do it like that. Geez, like let the kids play. You know, let the kids play. You know how much does the top one percent pay in taxes? Because the top one percent paid 42.3 of the total federal income tax in 2020, while receiving 22.2 percent of the total adjusted gross income? The logic says they get they're getting soaked I mean that's a big percentage.

Let's see what this one is. This is from the actual Taxfoundation.org Let's see what the stats are. Uh, this is in 2020. Do we not have the 2021 or 2022 numbers yet? This seems to be a little bit old.

Uh I mean it's just showing you that the the very top group is paying a shitload. High Income taxpayers paid the highest average income tax rates so in magnitude and also in rate. so I don't know like I don't need to chill for billionaires here I think they can protect themselves. you know like I I don't need to talk about it but I am interested in fact I'm interested in what's actually accurate I'm interested in like what are genuine, realistic statements about our tax code like uh, I I Think of it more as an interesting case study.

So this, like this concept of billionaires are just paying nothing. What? Like, it's just not true and like once again I Know this is a weird thing to like kind of I don't know, Um, talk about because it sounds like I'm just defending billionaires but like I guess whenever it comes to anything political I'm just interested in truth I'm interested in data I'm interested in like what the accurate statements are and to like this rhetoric of just like, oh, rich people don't pay anything well I don't know if there's facts that back that up and trust me, if there were facts that backed that up I'd be one of the first people to like Pitchfork And you know, like my tours are like you're a fair share, blah blah blah blah. but I I just don't know of any data set that is actually suggesting that I just can't find one. Um, and also other things that are horrifically misleading.

So like the average person, when you hear debt, when you hear deficit, the average person doesn't know the difference between the two. But for people like us who were paying attention to the economy in the market, we know that deficit and debt are interrelated, but they are two key different things. So when he's like, oh, I cut the deficit by like, whatever. Okay, that's interesting, but that's like it's almost like you're intentionally just showing a part of the story.

Why not talk about the debt that just literally hit an all-time high? Uh, U.S Debt Where's the debt clock right here? Usdeck clock dot org? Where's our big number? Where's the wait? I Thought it says 32 trillion right here. U.S National Debt We just crossed 32 trillion. Does it graph it out? This is an all-time high. So and every politician does it.

It just so happens that it seems as if we're picking on biting because Biden's currently in office. But every politician does this and they just spin things in the most egregious way that you have to be so incredibly informed to be able to nitpick between what is like, legitimate and what's And even in that discussion right there. Okay, there was interesting things that I was like I could get behind that of putting more funding in education. Yeah, no.

right now. I fully agree that the education system in the U.S is lacking and it probably needs more funding and there's probably a myriad of issues that are causing it. But I'm behind that. I'm totally behind putting more money into the education system.

and I bet there's a lot of unique ways that it could be improved across the board. I'm there for that. So like I feel like people just were no longer objective I Feel like people are put into like their little Camp their little tribe. so if you're left-leaning you're like nope I agree with everything Biden says and anything that Republicans say is and then if you happen to be in a right leaning Camp you have to be like no.

Everything Biden says is complete trash and to me I I just don't know how that's healthy like we're playing I like I just don't get it if you are right-leaning if you are Republican I Still do not believe you if you think if you a hundred percent agree with everything that is Republican and vice versa. if you're left-leaning and feel like no I like Biden There's no way on this planet you agree with everything he said, everything he's done. but yet the media and mainstream media social media and Society at a large like they act as if we have to be like all in on someone I don't understand why we can't nitpick what's good and what's bad and have realistic conversations about it. and maybe it's just the group that I run with but like it I Just don't see that at all like we don't see these objective things of like okay, we kind of like this.

This was smart. It was good thing Republicans did that. Okay, it was kind of smart that the Democrats did this over here. Well, maybe if we combine like X Y and Z that's better.

We just don't see it. It's kind Of like an All or Nothing thing where it's like as soon as you agree on one issue, they're like you have to be full Democrat Or maybe the issue you agree on is Republican you have to be full Republican And to me, that's just like lunacy I Just don't get it. I Don't understand it at all. but I guess that's the world we're in like.

So even in that conversation, there were things that Biden said that I agree with. I agree more manufacturing should be brought back to the U.S I Think the deficit should be closed I am a fan of spending more money on education. but then to conflate deficit and debt and know that most viewers don't or listeners don't understand the difference and act like you've done something so great for the economy. No, the big closure of debt that whole and also what's going on with inflation.

All that a lot of that related to Corona Like it. like that time period. the deficits come down so much because of how much money the government was like. that was no options or opinions of his.

So basically the government spended flooded the economy. and now that it's no longer flooding the economy, you go. look at me. I Cut the deficit by so much like whatever.

Well, that's just because you're taking a relative fall off. The same thing of saying: I've cut inflation in half. we're still double or two and a half X the inflation that we should be at and that's what I'm saying. It just seems so deceitful.

and I know I'm using examples of Biden right now. So if you like are a fan of Biden you're probably thinking why are you picking on the guy I like well, it's just because he's the dude who spoke and who happened to also be like in office right now it was another guy we would be talking about their speech right now. sorry I'm just referring to what's happening in real time, so don't get your panties in and twist over it I Just it drives me so so crazy that it's borderline predatory I Feel like many politicians left right in the middle in outer space? It doesn't really matter I Feel as if they're continually attempting to take advantage of people who are uninformed and really I think in their mind, they're attempting to take advantage of people who are stupid I Really feel that in my core that they're attempting to Pander for votes with the most low brow that like, doesn't really have an impact like they say so much with saying so little and I think they do that because like, well, hang on If we're actually legitimately never saying anything, we could always walk back and like blah blah blah it's always that political flip-flopping. And to the people who just I all in my mind I have this like average picture or picture of an average American family who they're just simply too busy Mom Dad Working nine to five.

they pick up their kids after school or some like daycare program, take them to sports, come home, cook dinner, watch a little. TV talk to their spouse. There's no time in the average day for people to Doom scroll on the internet as much as I do and talk to the people who like, like share all this information. So I I just feel like the average person time and time is getting because they don't have the time in their lives to stay on top of everything going on.

and when that happens, that's how political power like runs awry. I I Just don't get it I Think about it so so much and just like the current Trend and how this goes it. It's basically only possible on the fact that our current politicians really ride on the fact that they think no one's paying attention and a lot of people aren't paying attention and then all of a sudden like opinions are made by just like literally mainstream. like headlines like That's it.

People like vote in many elections. They pick their political affiliation, they pick their friend group based on biases that mainstream media is just shoving down our throat, and then they're not shoving it down our throat for any quote-unquote good. They're They're for-profit businesses. Obviously, they're for-profit businesses so all they care about is how do I get engagement? And there's been so many studies that expressed to everyone in the world that you only get engagement or at least you get more engagement.

I Should say you can get more engagement, but the most engagement comes from Nega negative feedback, not positive feedback. So there is a financial incentive in our world right now for all media to put out the most heinous argumentative things they possibly can because it pushes their bottom line up. and now all of a sudden you have people who don't pay attention. They're only getting that as their little pit of news.

and like, then we sit there and we're like, why is it? Why is it so polarized right now? Why is our world so polarized? But in reality, if you think about it for a second, it's arguably almost surprising. More surprising that we're not more polarized based on all the that our politicians and mainstream media do. and I just like it can't I I Don't see how it lasts forever I Think at a certain point there's almost going to be like a societal cultural shift where people are like, well, mainstream media is politicians are and all of a sudden you're going to see almost like a new class of politician of people who are like try to put honesty at a as a Paramount virtue and then all. Also I Think mainstream media is going to shift as like, all.

the classic names I'm talking about. CNN MSNBC Fox CNBC I Think they all die. You give it five or ten years. I Think media is gonna end up pivoting to individuals who people just trust in that individual brand.

Um, that's my big five-year 10-year projection on the media and political landscape. But I mean I I Just don't think the current path is unsustainable. Granted, maybe I'm off a little bit in my projections. maybe I'm completely off I don't know, but I would be willing to like bet that at least the current landscape.

I I Just don't think it's really sustainable whatsoever. But anywho, um, that's where I'm at I don't know why I went on such a long spiel. it just seemed to have got away. I Think it's because I don't want to check my position because I know now it's underwater and I was just hoping that the market would bounce back so my position would go back to being green.

But with that being said, I will be streaming again 3 30 PM ET So in 90 minutes, set your timer, get on your old whatever whatever kind of watch you have set a 90 minute timer. I will be streaming once again at 3 30 PM ET To do the normal market wrap up if this is your first time hanging out with me. Hey happy you're here. Hope you're having a great day.

I'll catch you again at 3 30 to kind of wrap up everything that happened in the market today, in politics today, the economy today, and maybe we could come up with some sort of hopefully profitable game plan for the end of the day. I Would also love it if the market could turn around, so ideally I could make some money here I don't know what's going on, things are looking a little rough right now, but anyway, that's what I have for you now. Uh, become a goonie Macquares.locals.com pinned to the top of Chat in the description of the video. Love you all uh bye uh, some other way.

ciao. Whatever else I could say but peace out Foreign.