Why yes, how come genius is doing what genius do? Cause he's a genius too. Let's go meet him. let's see his blueprints. Ever since I came in who I would wreck the game the day I met the microphone Shit, life ain't been the same.

Intellect on Cosmic levels was born with two brains I've been working hard, don't even got the time to stare at clocks Mr quality means quantity. That means I drop a lot first Ryan Gosley I lost the notebook so I won't jot nothing down I've been out here trying to put on for the time financially I'm getting Pennywise minus the clown cause I don't joke but I got a Harley Quinn riding with me who you give me. if you don't you need some big brain energy, can you see me now? bro. Good morning, good morning, good morning.

We are here a little bit early today because it is an inflation report kind of a day. Is my audio coming in loud enough? Oh there we go I had to jack it up. My apologies I hope I didn't blow out anyone's ears. Good morning, good morning, good morning CPI report going down in about this many minutes but plus also this many.

So it's like this many and then this many. or like this many, this many and this many. Basically I'm just trying to tell you that it's going to be coming out in 13 minutes, 8, 30 a.m ET today going down. If you're not watching this live, you might want to just slide ahead ever so slightly.

We're getting the CPI report I Have all the numbers, the expectations everyone's looking at 5.1 percent. That's the Line in the Sand for the year over year report for the Consumer Price Index It's gonna have a big big impact on the overall Market We'll be paying attention to the Spy. We'll be paying attention to the queues we'll be looking at Bitcoin We'll be looking at Ethereum. We'll be looking at the dollar the dollar Index And obviously some of these Mega cap companies are going to have a clear, clear, clear reaction to the inflation report And you might be thinking this sounds fun, but is that the major thing of the week Is that what we'll be looking at like is that it is today the main fun day and the rest of the week is boring.

The answer is a resounding no. Today's the CPI report, the Consumer Price Index tomorrow is the PPI the producer price index Friday is retail sales and then also on Friday we get three of the four major Banks giving us their earnings. So they're going to be commenting on the whole banking crisis. It's going to be this is it.

Monday and Tuesday We're exciting Monday We had a nice bullish follow through Tuesday was gonna be bullish and then in the final half hour we sold off the the old rug situation and that was kind of the Prelude uh, the Preamble if you will. It was just a little bit of the hype intro music to the remainder of the week. Wednesday Thursday Friday This week, buckle up. Do whatever you need to secure your socks on because we don't want to get those knocked off.

It's going to be a fun one. It's going to be a fun one. It's going to be a fun one. So yes, we started early I Appreciate you guys getting up early I'm sure many of you, just like me, got up at the crack of dawn before the crack of dawn to crush the stair stepper because you don't know where the day is going to go.

Oh I almost forgot today's Wednesday right Wednesday the 12th. We're going to be doing a whole nother specialty stream I'm calling this one a specialty stream because you guys got me up early. I Started 30 minutes early, but today at 2 p.m ET We are going to be getting the Fomc meeting minutes from the recent Fomc meeting and obviously in light of the CPI report, there's just so much going on. So there is another specialty stream today.

so I Don't know if you need to call in to your manager, move some meetings around, maybe play Sicky and get out of school early I Don't know all of your jobs I mean I Stock many of you obviously I know many of your jobs because like I'm just digitally stalking many many of you in here. But just so you know, 2 P.m ET Today Like I said, talk to your teachers, talk to your principals, talk to your managers, talk to your kids. But you're gonna have to move around some of your schedule because we're going to be going live again. So it's a two stream day, just so everyone knows.

But we're here to watch the fireworks obviously I do want to go over some of this key stuff just so you know what to listen for. So yeah, what we're going to be looking for is is basically 5.1 percent. Last time around, it was six percent we are talking about CPI Now if you look at Core CPI In terms of year over year where we're taking out energy and food, we're actually looking at 5.6 Last time around, it was 5.5 So we're seeing this interesting inversion of now. We're expecting Core CPI to be higher than just straight up CPI which is actually telling us that the inflation in the world of food and energy isn't really coming down.

Um, so we're going to be paying attention to that. If you're looking at the month-over month, respectively, we're looking at 0.2 and 0.4 That's the month over month. But what's going to be printed on all the headlines and everything is just the actually no pun intended headline CPI The Line in the Sand is 5.1 once again, year over year. If you're looking at the course, API it is 5.6 So that's the information that we're going to be getting in sub 10 minutes.

That's what we're going to be listening for. Um, obviously, when I give you those numbers, please understand that that's a median estimate. All these I could actually show it to you. We can look at some of the major individual ones right here.

Let me switch it over. Um I just for the people in here that potentially don't know how this is all computed and whatnot. Can I zoom in a little bit just to make it a little bit bigger. I Think you guys, that's a little bit more readable.

My apologies if it's not. Um, but it's all these big fancy fancy schmancy Banks And then they give you a median estimate. So some people are calling 5.4 That's what Visa is looking at and the many Barclays Bloomberg Morgan Stanley are all looking at 5.1 But these estimates we get, it's a median average value of just what all the analysts think it's going to be. It's not like they're all in agreement with each other.

Some are a little bit higher, some are a little bit lower, but the main number people will be reacting to is 5.1 percent. Obviously, this is going to have pretty sizable implications on everything related to our current monetary policy decisions actions. So just to go over that as of now, before the numbers out. before we really started trading today, there is a 74 chance that on May 3rd, which is the conclusion of the next Fomc meeting in about three weeks, there's a 74 chance we're going to get another 25 Bips, right hike? As in the FED fund rate, we'll go up another 0.25 That might sound small.

That might sound like something that you don't care about at all. You should very much care about it because it has implications on our uh, savings accounts, our credit card payments, mortgage, and a whole host of other very, very important impactful things not only in the U.S level, but also on the global level. Speaking of the global level, I should announce that just yesterday I believe it was might have been the earliest one. No, it was yesterday.

Uh. Canada actually paused their rate hike. So some interesting decisions going on on the global level. Uh, so just want to call that out to all of you of what Canada's recent, uh, monetary policy decision was.

This is how things currently stand. Obviously, there's going to be a big change after we get this inflation report. If the number comes in hot, if the inflation number comes in high like we're talking Snoop Dogg High That's not good. That means that it'll probably cause this number the 74 number percent to spike, and in fact the leftover percentage might go over to 50 Bips if the numbers Sky High because it just kind of well hang on.

This might get a little bit theoretical. Some people will interpret that to mean what the FED is doing is not successfully fighting inflation so they have to be more aggressive. Other people are going to be like well, hang on. This is a lagging indicator so that's not completely fair and that's something we could get into the details of later.

But what you need to know is if the number comes in high, If inflation is higher than expected, that's not a good situation. Most likely things will solve and obviously vice versa. If the number comes in cool, people might be like whoa, The FED might have pulled this off. We might have pulled off the mystical soft Landing here.

So maybe the odds of no rate hike will Spike and maybe things will calm down and we'll have less of a restrictive environment. and maybe the market will pop off of that. So if the numbers High I'm looking for things to sell off if the number's low, I'm looking for things to actually pop. Speaking of popping and not popping and dropping and locking and whatever you want to call it I Do want to remind you that April is seasonally a very bullish month now.

Obviously every single April has its own news going on. Like there's not many Aprils where we had to consider a banking crisis. Super high inflation, so it's important to pay attention to. But understand, there's a reason why a lot of these times when you're looking at seasonality, it's typically better than 50 50.

but it's not like you're really getting above 65. it is the Improvement on top of something along the lines of flipping a coin. But it's not like we're getting dramatic like 90 opportunities just based on seasonality. So we have to understand the the confidence of these callouts.

So I just want to give that to you I Also wanted to quickly show you just in the this is where we were in June 9.1 As you can see, inflation has been slowly but surely trending down. Most recently we came in at six percent and once again, this time around we're looking forward to continue its downward Trend to 5.1 that is currently the Line in the Sand and then from there we can look up like all the individual sectors such as like shelter, food, energy, cars, new cars, used cars, there's all that stuff that we can look into. Uh, so that's the stage for today. That's where we're at.

The report should be coming out in three minutes. I Wanted to show you a quick snapshot of where we are basically Yesterday we had a nice bullish push and then right at the end of the day people got a little bit hesitant, a little bit of cold feet and they're like, you know what? I'm going to de-risk this situation and now we're pretty much right where we open. We're pretty much right where we closed. We've done a great job of going nowhere.

We're violently volatility going nowhere. I have Tesla up here just because it's been selling off recently had a big pop. Then we have FRC I Think that could be interesting to watch? Uh, we'll throw up Bitcoin to see if it can hold thirty thousand. Let me put the dollar over here.

All right. And actually, we'll put the cues over here. and then we're going to put the dollar over here just for this morning reaction just for the morning reaction. And in a minute or two here, we're going to be able to tap into the audio and then I will also get the CPI report as soon as it comes out.

Actually let me cue that up should be dropped literally. right at 8 30. right at 8 30.. All right, it is released just for anyone who else wants to look it up.

It is released by the U.S Bureau of Labor Statistics Uh, next release March April 12th at 8 30. All right I have it all queued up I think we're ready to go now before it comes out. you guys basically have two minutes to tell me who are the brainiacs in here is today going to be a beautiful green bullish Skyrocket type of a day? or is it going to be a very Dreadful sad like sell-off Red Brutal Bearish day. Let me know and you only have two minutes left here.

Like you have two minutes to really get this through. Um, and if you do, the call out after you have the information that's cheating. Uh Green CPI 4.9 Green Green enter Red Red hopefully Big Green Red red blood bottle but ends red Beautiful Red Hawkish Day Sad day Inside Day Moon Day Smoke and Mirrors Shrek Just Nick's calling. it's gonna be like Shrek Just Green A Green Ogre of a day.

Well folks, we're about a minute out. As of now, stock futures tick higher ahead of key March inflation data ever so slightly. Right now, you can see that everything's basically centered around zero oil still going up. uh, just want to throw out still bullish on oil.

and honestly, Bitcoin's holding I did want to let you know about the seasonality of today. uh, just so you know, right here. Kind of neutral at was neutral, pushed and then came down. so a little bit of funkiness there.

So overall I would argue today just individually. not for the month of April But today, this seasonality, uh, it was bullish. but like the last two years, pretty brutal selling. pretty brutal sound.

and with all that being said, we should be here to do all right. All right everyone. Buckle up. In the past you have buckled up.

buckle up the action. We're going. We're doing it. We see if it's like a tenth hotter than anticipated.

You historically look back at where it was and how Don't forget to hit the like button folks. Don't forget to subscribe. As we're waiting for this to come out, It would help me greatly. Please, please, please destroy the like.

Hit that sub if you haven't already. It means a lot to me. I Know it's annoying to remind you, but it really does help out. If we could jack up the lakes on Rumble If we could jack up the likes on YouTube it will get more people in here.

Thank you, thank you, thank you. As a matter of fact, if you look at the year-over-year numbers since they're Peaks so the peak was in June for year over year Headline: the peak was in September of year-over-year core. they have been moving lower every single month. The bad news: someone's front running a little bit.

Three grand we're at. you know, 1.1 trillion Uh, fiscal year through March which is is well ahead, almost ahead. Give us the numbers. Let me upload.

Let me reload. This page should be coming out. Where is it? Where is it? and the numbers are out. Our March Release of Consumer Price Index expected up.

Two tenths of one percent is up one tenth of one percent. Who came in? A little cool. That was in June of 22, the highest since 05 and since then the lowest has been zero. That was July of last year if you look at X Food and Energy Five came in a little Cool folks, that's bullish came in a little cool.

it came in at five. we were looking at 5.1 was the estimation 81. excuse me, the low has been up two tenths in August of 21. the biggies now five percent year over year.

that was expected to be 5.1 in the rear dollar vomiting Bitcoin ripping spy ripping cues ripping every single month as I said uh since June when it peaked at 9.1 July Well September the Bullish Bettors were right January February Now March have been and lower and if we look at 5.6 to year over year core maybe the most important number here. Here's where it gets interesting: Joe 5.66 Let's see if it holds five in the rear view mirror gone down every month of September when it's food 8.6 energy drops or that street 5.6 Many have said it doesn't be linear, so basically we understand the Core was in line. The headline was slightly cool. We have made progress but it really Market liking it thus far.

What a vomit Omaha looks at this. It really does now become an issue of spend spend spend. Yeah, how do they view the banking issues in incredible moves in? Gold uh in the dollar? Uh, it all sort of looks like it. It might give the FED some uh, some breathing rooms.

Like A Rock 10 years ago Futures were the stock futures went up immediately, gold went up. immediate. It all sort of. Is it 392.

it's down What? 14 basis points? yes and we've gone from uh, what? we're at 337. Market popping Bitcoin popping dollars back to Becky at least I'm going to talk buddy, We're all anxious to hear how Warren Buffett's going to respond to the big pop in the futures for equities. Ooh Warren Buffett For interesting, let's see what Warren Buffett has to say. All right Rick thank you very much.

we were listening intently to all of that. Warren Buffett is standing by too Warren What's up brother? Well Becky on Good Friday I was working Mark Millard who handles all the bombs in stock prices for the whole for all of Berkshire uh was there and I knew I was leaving town on on Sunday night and Mark says what do we do next week and I said here's what we do and uh on Monday we always buy treasury bills. We bought about two billion of them. We got a 499 casual to build percent Bond equivalent yield and but the only question is whether we buy three months or six months and and uh and I tell them use his own judgment on that.

So Monday I was here and he sent me a sheet as to what we did and uh I don't change anything Tuesday he does the same thing and that we happen to be in that sort of 300 and some million dollars. but we could have been in that buyer of 500 million and in stock casual, half a billy and uh, I am not going to I'm going to be traveling tomorrow over you know he's going to be operating in on Wednesday and I'm not changing any instructions there. I mean he's going to keep doing what he's been doing I mean I We don't make our decisions as to whether to own part of a company for the next 20 years. We don't have any idea what but anybody's going to do next week or next month.

and when I was buying Berkshire in between 1960, two in 1965 of control uh, didn't really have anything to do with other. You know all kinds of things were happening in the economic markets all the time and I but we haven't changed our course you know in 58 years. which is one of my good businesses, one of my people we like and trust and at a decent price. And and we'll keep doing that and we'll keep buying treasury bills every every Monday and and we haven't missed a Monday yet.

and uh, and we keep all our money short. We keep it in treasuries and we were getting four basis points which was 40 million a hundred billion dollars worth and now we get almost five percent which is 5 billion so about 100 times the earnings. but it doesn't make any difference. I mean that is there to be to be the strongest company you can imagine and and also to take opportunities.

The government is Warren Buffett like single-handedly supporting our entire government before and and I could go away for I Can go away for a couple weeks and I would tell them. Here's what we want to do on the by side. here's what we want to do on the south side and just keep doing it. And and that's what we do.

and and uh, and some periods. There was a period about a year ago I mean one incredible volumes were we. we bought 20 of a company uh, that already the index funds owned. you know, 25 or 30 percent Dodge and Cox on 10 percent and we put 20 percent.

markets still pop and something like that. no accidental yields coming down, bonds going up, dollar, vomiting, Bitcoin going up. but the bowls are showing up today. Look at those yields down down.

If we're buying an accidental horse, we're selling something else. but we'll just keep doing that. That's what we've been doing for 58 years and and I can't tell you what the Fed was doing when I was buying Berkshire day by day or week by week or month by month or year by year we were buying Berkshire And you know and we've kept buying things and we we don't. We don't make stock market guesses and and we don't We don't know how to profit by looking at at Broad statistics and and guessing what stock markets are Bond marketing.

but you have said that you do pay attention to interest rates and that interest rates are like gravity on Equity prices. There's no question about that. So where's the level of gravity? Are we on the moon? Are we on? Earth Well, we're in a way different position than we were good gravity question. The Op: The option was to get four basis points on on bonds and that changes the value of change the value, The real estate changes the value of equities.

It changes everything. But that's all happened in my lifetime. various ways all the way up to 21.5 Prime and down to zero which nobody thought we would ever get to. You can read the economic textbooks of of Well by Paul Simons and the other Wonderful man.

It's a 900 page textbook that every kid went to school with and you look for negative interest rates in the in the index and there's not a word on it so anything can happen. We're prepared for anything, but we like to do things. it's that simple and we always want to have money. Andrew's got a question too.

Andrew hey Warren Uh, there's actually a question that sort of moves where the economy may go and it's a question around technology. Uh, which is I I Know a space that you don't always want to go to but I Also know you're one of your best friends is Bill Gates So I'm curious if you guys talk about it. we keep talking about Chachi PT and potentially how that could transform AI how that could transform our economy in the future. And obviously there's also lots of questions about whether AI is is dangerous and we have the right policy set around it.

and I I was curious if you've given much thought to any of it. Well, I I think it's something I don't understand at all but Bill didn't come by about I don't know four or five months ago and he said you know I'm going to show you the the latest thing, what can be done and then he you know I I actually said take the song my way and write it in Spanish and you know and and uh uh have an encompassed my views on what's funny and or what's likely to happen in the economy and two seconds later you know it comes out, it comes out that rhymes and does all these wonderful things and and uh but he told me he said he said he can't tell jokes which I thought was very interesting. it just doesn't know how to tell jokes but it can tell you it's read every book. Every legal opinion I mean the amount of time it could save you if you were doing all kinds of things is unbelievable.

but but I said the bill is I I said just let me know uh but I can ask it. you know, how are you going to, how are you going to ruin the human race and uh and uh and then let me know someone unplug it or whatever I have to do at that point and of course I'll be programmed so that nobody thinks they should unplug it or something. I think so I don't really understand it I think it's an incredible technological advance in terms of showing what we can do. but I don't know whether we know what what happens and I was listening uh, feels like he's hating on AI who was it the other day? that was knows a lot about technology, you know Warren just wanted more jokes.

It scares me in terms of the possibilities of I mean we we've done amazing things like we figured out how to create an atom bomb back in 1945 I don't know what an animal? Where are we going with this one? Reel it in, brother, change the world. So I I don't want to change the world so many times without knowing having some idea of the consequences of it and this hap. I think this is extraordinary but I don't know whether it's beneficial. Was it Steve Wozniak pardon me, was it City it was.

Uh, Eric was saying. You know we don't know where this takes us and maybe we ought to pause it for a while. Well I don't know what a hundred to one percent about physics or anything else that that that Eric knows. but I come to the same conclusion, look at you Warren watching Squawk Box from Tokyo last night it sounds like because Eric was on talking about that on the broadcast.

uh one other question for you Warren because we always ask you I I don't know if that's where you were watching it but he was. he was talking about it uh just yesterday with us but but separately we always. we always have a Bitcoin question for you but I've been thinking about okay I was thinking about this with you with you Warren and I know your views about Bitcoin and I don't know. Here we go, let's come back up to close to thirty thousand dollars again.

you know when you go back to uh the Tulip Mania tulip Mania went from 34 to 1637. only lasted three years and here we have. If you're right, they're coming back so we can don't act like it's still lasted something along the lines of 15 years and so I'm I've been trying to understand if in fact, you're right and this is, um, not just rat poison squared. but it's not is not a thing.

that's not a thing that's predicting when speculation will end or you know, when the gambling Instinct will go away in one. never more people want to get out than are getting in and I have no way of if I thought I was good at that I'd put on a way to make a lot of money and different things I all I'm trying to do is buy good businesses but I the one thing I know is I you know I didn't like chain letters when I was a kid I thought why in the world should I send it along a Channel or the next time? well I could start my own I mean I've seen people do stupid things all my life and and I I and I really I empathize with that I mean people like to play the lottery. They're going to get 60 cents back on the dollar or whatever the number may be. and and States essentially the numbers rocket was something that you avoided and that then the government decided it was a source of Revenue and it's it's very hard to tell people that that if they're going to put a tax on essentially uh uh, a sure loser for Society for the for the gamblers on the lottery on the whole, but they they're they're appealing to the gambling Instinct and and uh, you know it spreads I mean people love the idea they're going to make more money tomorrow and it really drives them crazy.

If their next door neighbor is making a lot of money not knowing what they're doing and they're just sitting there and their spouse is saying, you know, why is that guy getting a second car and why why are we missing this whole thing and the gambling instinct is so strong and and I feel like he's personally talking to us millions of people and sitting home and finding out that they could have a roulette wheel in their house and they had all their peels that are used to get people to go to Las Vegas and you can do it in your home and add money. And and we've had an explosion of of of gambling essentially and and and you know I like to bet on a football game if I'm sitting in watching it makes it more interesting. but I I don't think I want to make a living trying to bet against the house ever I want to If I were to get into gambling I would want to own the roulette wheel or not be a rule out player. but but uh we haven't done that.

but but people all the time. Well actually on my on my honeymoon in in uh, my first marriage you know we're talking when I was 21 and we went through Las Vegas population then about 20 000 a bunch of fellows from Omaha uh and other places that I bought the Flamingo after Bugsy signal met his maker sooner than he expected and uh and they welcomed me in because they all knew my uncle Fred and I looked at all these people the old Uncle friends won thousands of miles to do something that unintelligent as fast as they could I mean they just they couldn't. You know they thought the dice were hot or something like that and I thought you know I'm going to get rich in this country I mean if if that's what people do I I can be smarter than that I mean and so I've watched it ever since and it's fascinating to me. But the gambling urge is so strong throughout the world and now you've created the perfect condition for it.

Where states are legalizing gambling and well, you know what a dust of the football games I mean particularly, but just you're just point shaving You know which? Uh, you know the guy gets offered a million bucks and it's like you know the the White Sox worked back in 1920s. Wait is he insinuating that all sports are now fixed because again, throwing the game I Mean you're just. you're just making sure that this the Spread has met. it's I Don't know.

You're not going to change the gambling Instinct But when the state has started sponsoring it, it's given A It's given a different A. There's a different climate than before. You think that we're all over the place of this legalized gambling and it's spreading in the states and everything that's happening right now. You think that's changing the games you think there is.

There are situations where spread's not going to be made and it's because somebody is is doing it. They've been well. I think everybody in the country spent all their time gambling. you know, flipping coins against each other.

uh you know somebody would win 20 times in a row. you know every what million times or something like that and they have 330 million people doing it. You've got 330 people that hold the coin flip correct or something I mean the urge to participate and something or it looks like easy money is it's it's a human instinct which has been Unleashed is always there I mean and when my dad was in Congress and uh in in the house office building I could go to the elevator and yell Sammy and the guy would come up to take numbers bets which were illegal you know on the fourth floor for politicians office building and it's it's people. love the idea of getting rich quick I don't blame them but uh I I've always wanted to get rich slow and I have a lot of fun along the way.

but but I don't I've been on football games I made one wager and and at the sports book in Nevada and then I was out there with a couple friends and and I went up and been on Nebraska against it and about 10 people got up behind me and said I'll have what he's having you know it's gonna make Ryan the movie. So they had a very unbalanced book when they got through that day and I got 500. My 550 and I made a profit of 500. I had somebody else catch the tickets already.

That's that's I Just uh. it's so human. and once Unleashed you can't put it back in the bottle and something like Bitcoin Ah, you know it is something. It's a gambling token and doesn't have any intrinsic value.

And and you know Larry Summers was on a week ago I Highly disagree. You can't say Bitcoin has no inherent value. It's a finite resource. Oh, and think that if there's 37, you know one zero and or double zero and that doesn't make any difference.

Yeah, it makes a difference and it just scores how fast it eats up your money if you spend the rest of your life to spending around. Well, but they feature the winners and people get excited about it and that's why the slot and sheets make a lot of noise when they're paying you out. I Don't know I don't know how to turn back the clock on that. Let's talk about some Investments that you have placed Wagers on and maybe switched your Wagers Taiwan Semiconductor is a stock that showed up in Berkshire's Holdings in a big way a couple of quarters ago and then a quarter later most of it was gone.

Yeah, that was me. That wasn't one of the two other guys. there's two other people that make decisions that he's throwing about 15 billion dollars and sometimes they get confused with me. they step off a spying this or not and there's one or two other guys.

but that was my decision. and and I think Taiwan Semiconductor is one of the best. Well, it's the best in that field and is one of the best companies in the world. It's a fabulous Enterprise and Apple buys a lot of the products from them I mean they they're good and they're coming the United States and we're We're actually I think maybe even building for one of our subsidiaries helping build facilities form.

but I do think that that, uh, there was a danger there to some I don't have any idea there's actually a danger of seismic yeah, action. I mean and and and where they're located but that's a low probability and they you know they. they're smart people. but I'd rather have it it was as U.S domicile company then then be a subject of who knows what depending on conditions outside their control I'd Rather, you know I I reevaluated that part of it I didn't reevaluate the business, the management or anything of the sort.

It is a fabulous company. Uh, and you know you re-evaluated the geopolitical risk from China stepping in to Taiwan Yeah, like I think there's any question that conditions change I just don't know what the results of conditions changing I mean China and the United States are going to be superpowers. You know, as long as your children live and yeah, and and they will always compete with each other. and uh, and they showed that and she can't really get out of control and you can't have accidents and all sorts of things.

I Mean that. Uh, it. You know it. it.

It's a dangerous world you're concerned about China and what that might mean for Taiwan Semiconductor. Are you worried about what it would mean for your largest holding? Apple Because Apple does so much of its business there, both in terms of manufacturing and sales. I Weigh that in. But but apples? Um, uh.

if somebody, if you're an Apple user and somebody offers you ten thousand dollars, uh, that's the only providers you'll never be able to. They'll take away your ass, your iPhone and you'll never be able to buy another. You're not going to take it. Uh, if they tell you if you buy another for the motor car, they'll give you ten thousand dollars not to do that.

you'll take the ten thousand dollars you buy a Chevy instead. I Mean it. It is. It's an incredibly valuable, uh, utility it.

That doesn't mean that it can't be misused by kids. and Tim Cook cares about that. I Mean everything can be used. Fire can be misused.

I Mean what fire can be misused? Good job. Warren Tim Cook is the one of the classiest Flames are hot. he understands the business and he is has a product which Steve Jobs basically another. but Tim Cook has managed that company in an extraordinary way and uh uh you know I I Love it.

You know we've got a hundred and well whatever we got, we've got 9 900 million plus 9 or 15 million shares actually and you know it's it's Warren and I together on 915 million shares of Apple It's a Wonderful book The Two Of Us Together business like that and so we all know a lot of it and uh and our ownership goes up a little bit over here because they buy on their stock and and and Tim does not issue it, he buys it in and uh and we love it. meaning you're not selling any Yes no. I there was one period actually from a taxi stand. What? it was a good idea the cell phone we sold some around 115 uh and uh it was a dumb sale I mean in the end all of us because it's all the stock situation some other way and uh uh, we actually bought a few shares last year we got a little two more shares.

when we bought we bought Allegheny Corp because they had some of the portable I only kept two stocks they owned Berkshire Hathaway had happened. they happened on they had 20, got on 27 stocks or something like they're all gone except for those two. So I We will never own a business that makes so many people happier and useful form. and you know you probably got 20 000 photos up there and that and Apple.

What's Steve Jobs that without other people can do other technical things and I don't know whether I'm when I looked at my iPhone I don't know whether it's some little guy inside that's doing thing I don't know the technical aspects at all. but I know that the Nebraska Furniture Mart if we don't have the Apple product, people leave the store and go someplace else. and uh, you know I've just stood there and watched people and and talk to the people that sell orchids. our Earth's products at the Furniture Mart and and uh, you know whether they're old, whether they're young, whether you know that that they want to have it, and and lots of people have multiple Uh products that they have, they have.

they've been come up with just one little addition after another, and who then who knows what they come up with additionally. but Tim Cook can someone Center his tie the greatest about it? Like we don't need to have it so offset about another? It's a multi-billionaire it has. You should have a tie guys. In fact, that's its only presence.

Byd or the electric car company that you've owned for a very long time. Um, you've been selling some of that. Why? Well, they've been selling it because the companies are interested in it's being valued at what the interest we had is being valued. you know, six and a half billion, whatever it may be.

And and I think it's an extraordinary company. and I think the fellow that runs it was running right along ever since we purchased it. I don't know 14 years ago or something there's an extraordinary person been over there. But but I think that uh, when you reach his level, that I'll feel better about it.

but we haven't. We haven't sold our Byd by Launcher. We're not in a hurry on something. but but uh uh, my job is to allocate the capital and within.

Berkshire Hathaway The way I would do it for my sister because she is a picture holder and and that's the way I feel about all of millions the shareholders we have very quickly. Can I just ask you about Paramount that's an another Berkshire investment that's been a relatively new one. Um, is it because of streaming? What? What happened framing that? you know it's not really a very good business and uh, you know it. Uh, the people in entertainment have made lots of money, The shareholders really haven't done that right over time and uh uh supplied the benefit.

It's a glamorous business and and uh and some president Hollywood you know? and they they look for pigeons, you know and they find them I mean it's like it attracts people and uh, you mean suckers. It's a great way to meet girls, but the Warren you Doug it isn't fundamental. it is a great way to meet girls. What a business.

Whether it was Distributing producing movies or and and you've got some people that have got Deep Pockets Shout out to Oxy the product. They're offering people a chance to watch all those movies. you know, for peanuts and all that. But can they raise prices? We'll find out.

but so far they haven't been able to. They've been able to attract subscribers, but they attract them at a terrible price. All right, you give a whole lot of reasons why not to buy? Paramount Why did you buy it? Well, we'll see what happens when you are known for somebody who has the appetite and the taste of a five-year-old you like hot dogs crazy. That was an insane weekend.

Someone wrote in on Twitter and wants to know what you've been eating in. Japan Oh, that's that's an interesting question. I I have a Coke here and uh I'd be I had some Hershey kisses before I came over here and a few things like that and uh and you know I I've gotten the 92 with the habits of a six-year-old and so far it's working Charlie's 99 and he doesn't need any better and I do pretty much. but I just get more attention with my dad and you know at uh I think I mean you know your roller dice I've been lucky in life I haven't really gotten that sick and the only terrible things happen when people die or get sick that should care about.

and if you can make it a decent living in this country you know just been lucky and and you know I make all kinds of money because I'm good at some game where the crumbs of capitalism just fall off the table and and uh, and you know what, What people contribute to society is not proportional to somebody that you know gives their life fighting a war that they don't need to get that I always admire to Hank Greenberg Get away. Just remember the question was what have you been eating here upward in order to go in the army? Any land or the norm of the that is, that's really uh, something So I've been lucky and uh, you know I is he about to join the military everything I like to eat by the time I was sick I mean I mean why should I pull her out with all these other Foods I know all these people eat all these green things and everything but if somebody told me I would live an extra year if I ate nothing but broccoli and a few other things all my life instead of eating what I liked eater I would say technically take a year off the end of my life. and let me amount of difference in terms of you can't measure very well in terms of longevity and I'm happier when I'm eating hot fun Sundays or drinking Coke or whatever long on hot fudge sundaes investors pause on hot fudge sundaes I Want to thank you for your time today before the Market opens. you invited us but thank you Warren Buffett and uh Joe we'll send it back over to you.

All right, we've got some movement after that uh CPI number thanks Beck Uh well there you have it for. Mr Warren Buffett His takeaway from the recent CPI report his opinions on AI and as always, he's gonna besmirch the name of Bitcoin basically calling it valueless. that's our boy. Warren I agree with him on some of the stuff and I disagree with others.

but speaking specifically about the CPI report I Just want to show you folks where we are at right now. the market pop. This is the Futures market for the S P 500. Right when it came out, the report came in slightly cool, which is good inflation coming down even more than expected Market Huge pop.

To the upside as I'm filming this right now. A little bit of bleeding down, but overall we're still looking pretty good. You could take a look at the NASDAQ as well, essentially doing the same thing if we take a look at Yields. Yields vomited, which means Bond prices went up.

We also saw at first the dollar vomited, but now also rebounding. and just because we are talking about Bitcoin which I very much like, but I know Charlie Munger referred to it as a venereal disease either Buffett or Munger called it rat poison squared. it's actually looking still pretty good. so it might be rat poison, but it seems like the fun kind of stuff, but holding above thirty thousand.

So that's the not only the update on the report CPI coming in lower than expected as in inflation coming down more than expected in June of 2022, we peaked at 9.1 percent and we are now successfully coming down in the realm of five percent as things currently stand. Obviously fingers crossed that this trend continues to go down and down and down. Beyond that Buffett Talked about AI I'm a big proponent of AI He seemed to think that he was a convoluted connection to gambling and Pandora's Box and then obviously we were able to wrap it up with apparently how much he hates Bitcoin uh, something I vehemently disagree with him on, but that's what's going on as of now. Hope you enjoy the update.

He understands Skynet maybe he does. Uh, when he started talking about that AI related stuff I got like strong Boomer vibes from them seemed like very very strong Boomer Vibes where I just don't get the stuff my friend Bill Gates Came by a couple months ago and he showed it to me and I made it make a song and tell me about the economy. and I don't know, where's my Coca-Cola Where's my Hershey Kiss I'm not really making fun of them because by probably every single metric, this dude is way more successful like that's a Mo. that's not just a billionaire, that's like a top three billionaire.

a top five billionaire. He's crushed it. But that doesn't mean he doesn't say weird things. like he definitely does say strange things.

Um, what was the what was the quote that he had about streaming in movies and and like it's a good place to meet girls like he's just, uh, dropping some of his own uh, pickup tips. He's like Hey whenever I Go on Tinder I Always know to bring chicks to the theater. It's a great place to meet girls old warm. Old Warren What a guy! What a freaking guy Would this do the banking sector or Banks popping now.

Oh, banks are up a little bit now. Remember we get a lot of banking reports Friday this Friday in two days now, you might be thinking to yourself, ah, that was. that was a blast Matt It says it's a shame that the fund's currently over and I'm here to tell you that the fund is not over at all. Tomorrow we're streaming early again.

we're gonna get the PPI report. Friday We're streaming early again. We're going to get the retail sales report on top of all the banks. and then today if you're like, well, that sounds great but I don't want to wait till tomorrow just for more fun.

Well boy oh boy do I have something for you Today we're doing a specialty stream at 2 p.m ET Uh, we're gonna get the meeting minutes from the most recent Fomc meeting. so we're going to be streaming that to see what happens in the market right now. Things are bullish. Does that mean today? we'll remain bullish? Well, the odds are probably favoring it, but it's by no means a guaranteed the mark.

That's not open. We still have 25 minutes to really see how things are going to end up shaking out. So it's gonna be a wild one. It's gonna be a wild one.

I Guess with that being said, right before the CPI report came out, I asked all of you beautiful folks, how are you feeling bullish? bearish and it seemed like a lot of you were in the middle. A lot of you like you guys were net neutral, some of you variable, some of you very bearish but you know now I'm gonna ask you again. please let me know in a comment on both Rumble and YouTube how are you guys now feeling now knowing that the CPI report came in a little bit cool and also knowing that Warren Buffett ate some Hershey kisses before speaking with Becky quick of CNBC with those two pieces of information. how are you feeling about the market now and you should weigh the whole Hershey Kiss thing properly I want that out there I want that out there for sure.

Where's the rum chat? The rum chat is right here. We could do the old Switcheroo man I feel like I'm really nail in the new chart set up here I think in the middle of it uh my algo started trading. Did I make any money? Did I make any make anyone? Oh looks like I made some money on the NASDAQ locked in a nice trade There it like caught the pop which is awesome. Let me just get this all centered up but it looks like it lost the money overnight because I'm apparently net down a hundred buckaroos which is super not cool, super not cool I didn't find something else though that I want to share with you for those of you who are late to class.

first of all, Demerit. but here's what you need to know: CPI spiked at 9.1 percent in June of 2022. Uh, it came down to six percent last month. now down a whole nother percent to five right now, let's see how the odds change of the next Fomc meeting.

All right, 34 and 66. So apparently the odds of maybe not doing anything, uh, increasing. And that makes sense because inflation is trending down, so maybe we don't need another rate hike. But obviously this is very much.

um, gonna be what's that Sat word I I Recently studied and I wanted to see smart. The numbers you see in front of you here are very much going to be based on the vicissitudes of inflation either going up or going down of which we have two important reports. and on top of that, the vagarities of people's interpretation of what the bank announcements are about to be on. Friday So those are your S.a.t words of the day.

I Just wanted to share that in all reality, the only reason I know that word is because I heard it on what was it? Where did I hear it yesterday? What show was I watching? Uh well, that's gonna. It's weird that I remember the word. but I forget where I actually heard it Anyway, look it up. It's a great word.

Vicissitudes: Uh, to the whims of two opposite things. two polar things. But the whims are like the I don't know political vicissitudes. It's just the whims of two going back and forth.

typically the opposite polarity. So hey, we all learned something a little bit today. All right, All right, All right. All right.

we are coming down a little bit but we're still holding green and I just want to give you the Tesla So I got screwed on my spy put I got screwed on my Tesla But but that's what it is to be a gambler. the dang gamblers that Mr Buffett was referring to. Here, you can see the CPI report. All items came in at five percent.

The median expectation was 5.1 so it came in cooler than expected. Uh, food is still up 8.5 energy coming down 6.4 Uh, core came in inline at 5.6 That was expected. Um, so basically you could tell from this that actually food and energy. Um, this is where food and energy was encounted.

So it's the other aspects that are keeping it up right now. I Don't know why that's there. Uh, new vehicles up 6.1 but used cars actually coming down pretty dramatically coming down 11 year over year. So that's a quick and if you want a quick screenshot of the inflation report, if you want to check it out, you could just go to the Bureau of Labor Statistics website.

Or you could just Google CPI report and it will show up for you if you want to dive into the numbers a little bit more intimately. All right we have that we could talk about the Bitcoin having a little bit later. I Just got I Want you guys to know home buyer mortgage demand jumps after interest rates dropped to a two months low. so just want to keep you apprised of what's going on in the world of real estate.

Do not forget today the seasonality. It's neutral leaning, bullish. It was kind of flat. Then It popped past two years.

Not so good. But this is the seasonality of today individually. I Also want you to know we got all these 8 30 reports at 9 00 a.m All right. So Barkin is speaking right now.

Then we have Daley out of San Francisco she's speaking at noon o'clock Treasury budget comes out at 2 p.m and then right here minutes of the Fomc meeting that's at 2 p.m I will be streaming this. Uh, Speaking of which, this is the newsletter within the Locals Community Where we have other stuff going on. It is pinned to the top of tab. it's in the description of the video.

Sign up. Sign up. Sign up. Uh, we're doing a push right now where you could get the premium.

Sign up for free. Just put in the code Goonie. When you sign up G-o-n-i-e you could become a premium member for free. The code is goonie.

it's pinned to the top of chat. It's in the description of the video. or just go to Macquares.locals.com Um, all right. And then with that being said, I did want to share a video that I saw earlier today.

This one all right. let me switch this over just so it's a little bit better for those of you who missed it. Elon Musk the pseudo celebrity CEO of Tesla SpaceX neuro link and probably many other companies including Twitter. He is in no way afraid of being in the Limelight and a lot of that.

Recently has been Elon battling with various journalists and recently in his crosshairs, it's been the BBC which actually led to an interesting discussion that I think we all could laugh at. So I want to share it with you BBC Journalism at its finest. There's been a rise in hateful content on Twitter Elon Give me an example Journalist: I Can't musk. You just lied.

This very much happened. It is absolutely hilarious. Give it a listen. Content: you don't like or or hateful.

What do you mean to describe a hateful thing? Yeah, I mean you know this content that will solicit a react action Something that may include something that is slightly racist or slightly sexist. Those kinds of those kinds of things. So you think if something is slightly sexist, it should be banned I'm asking for specific examples. Um, and if and you just said that if something is slightly sexist, that's hateful content.

does that mean that it should be bad? Well, you've asked me. You've asked me whether my feed, whether it's got less or more I'd say it's got slightly more. That's why I'm asking for examples. can I can you name one example I I honestly don't you? I I Honestly I can't name a single example I'll tell you why because I don't actually use that for you feed anymore because I just don't particularly like it.

A lot of people. A lot of people, are quite similar. I I Only I Only you said you've seen more hitful content, but you can't name a single example, not even one. I'm not sure I've used that fee for the last I've been using Twitter since you've taken it over for the last six months.

Okay, so then you must have at some point seen that you've poured you hateful content. I'm asking for one example, right? and you can't give us number one. And I'm saying then I I say so that you don't know what you're talking about. Really? Yes, because you can't be a single example of hateful content.

Not even one tweet. And yet you're claimed that the hateful content was high. Well, that's a fault. This is so awesome.

What no, what I came was there are many Uh organizations that say that that kind of information is on the rise Now, whether whether it has one example I mean right? The Strategic dialogue. Uh, Institute So they will say that so people will say all sorts of nonsense. I'm literally asking for a single example and you can't name one, right? And as I already said, I don't use that feed. But how would you know that I don't think this is getting anything.

You literally said you experienced more hateful content and then couldn't name a single example, right? And as I said, that's absurd I haven't I haven't actually looked at that feedback then how would you know for Content because I'm saying that's what I saw a few weeks ago I can't give you an exact example, Let's move on. we have. We only have a certain amount of time. Um, well, liar, liar, pants on fire.

This all went down yesterday mid April between Elon Musk BBC journalist and this is such a great I guess explanation or a Showcase of kind of where we are where big Tech and capitalism and I guess like this woke culture now all mean is if you listen to the journals, he was like, well, I've been hearing it like I hear that there's hateful content and they take that as a pure truth. They just assume that's right because they heard it And really everyone they're looking for the opportunity to dunk on Elon and then he just asks, hey, okay, great, Explain it to me like give me a singular example I can't do that but if you can't give an example of the thing that you're holding as a truth though, like what are you doing, this is just it was if you like Elon if you don't and I'm a fan of them. but I know maybe you have particular issues I'm not saying I agree with them on everything but I think some of the things you've done as are actually positive for Humanity I Think like with any human, that's what's called. Having a brain stem is when you can look at someone objectively and like I Agree here I Agree here.

I Disagree on that I Think that's just being a good human and in this situation, there's so many people that dislike them for one particular issue and they apply that to everything. And then you get into this situation where a journalist, a person who's supposed to do research on this situation is supposed to be unbiased, got completely bodied like an absolute Checkmate because he wants to pop off with something that it's gonna be a good headline. This is what's happening in all forms of media: Left-leaning right leaning Center leaning I don't really care I Actually like Center leaning Obviously the best, but in the world of media, they don't care about the truth. Does no one see that they care about getting clicks? They care about the almighty dollar.

They care about their bottom line. So anything right here if you can include Elon If you can include some sort of salacious sounding headline, it's going to get more clicks. This journal wasn't here to get any truth. It wasn't here to share the truth with the world.

It was here to improve BBC as a business in terms of its dollar value. In terms of its Revenue In terms of its clicks, it had nothing to do with truth and they got so blinded by that of like okay if we can pin Elon down on this, we know we're going to get views. they just ended up getting completely embarrassed like that's the current state we're in and I actually find it very very concerning. and once again, I'm not signing with the left I'm not signing with the right I'm saying it's an issue that happens in all forms of mainstream media and if we keep going down this particular path, Is it something that we can really get out of? Is this a whole that we can get ourselves out of because all we're doing is creating Echo Chambers and all this infighting.

and if you've been looking at the world around you, it doesn't seem like it's adding up to anything good. So I just want to leave a little bit of food for thought, but this just went down. Elon BBC And in this particular one I Think any objective measure Elon clearly won it. even if you don't like them, you have to admit in this one specific situation, he absolutely bodied the journalist.

What else do we have I think there was another thing I was being told that Rumble had some news some speaking of politics, some political base news right here. Rumble Let's go GOP Presidential Debates So is the announcement that the presidential debates are going to be streamed on Rumble and so I competition is good in the marketplace if more people go to Rumble.com Maybe YouTube Will someday say oh my goodness, people are leaving us and nobody's gonna want to participate. Maybe they'll change their ways. My official office has adopted Rumble as our video sharing service of choice.

because Rumble stands for Freedom of speech. We will expand and the frontiers of human knowledge and extend the horizons of human achievement. Another opportunity to get away from YouTube and that is to use Rumble.com Listen, do you I can't tell you what to do Just saying. stop supporting people Google owns YouTube that don't support us and they didn't tell you it was fake, didn't tell you it was hacked.

Why'd you take it down? Rumble Kevin McCarthy I'm the Republican leader of the House of Representatives Is this going to get us DMV what it means to be on the receiving end of big Tech bias, censorship and Castle culture and I also know what it's going to take to fight back for a free and open internet and Rumble is leading the way. Rumble partners with the Republican National Committee Tune in! Live on Rumble.com for the first debate in August of 2023. Uh, well. obviously that explains why everyone in the video in the commercial in the promo was obviously well-known Republican figures because it's the Republican debates I Guess starting in August Setting that aside, this has nothing to do with the commercial I'm just talking about Rumble as a business.

The thing that will make it an even more legitimate competitor with all the other platforms out there is imagine if they did that. But on the other side, imagine if Rum Rumbles somehow secure GOP But then also the Democrats imagine if they partnered up with the DNC as well. The biggest thing I see with Rumble in a business sense is it is erroneously thought to be extremely right-leaning And at first it did have a lot of right-leaning content creators and they are slowly and surely getting themselves out of that world. Obviously, they now have people such as Russell Brand Steve will do it.

They have people who aren't involved with politics at all. They now have a deal with Destiny who's thought to be a kind of a left-leaning commentator and I love that as a shareholder in Rumble I Want everyone to be there Yes, I want right and left-leaning politics but I just want whatever I want Gamers I want people who do the cooking things and like just all like music videos like like the Lo-Fi like all forms of content and it's getting there. Obviously it's taking time like I could give you an example of P people who they are signing I mean the recently Eugene like they they're signing people that don't really relate to politics and I like that. but I think a strong strong move that would make me really happy about my investment and I'm already pretty happy with it is.

imagine if they were able to pull that off with the DNC like that would just be such a f you to YouTube because it's just not right-leaning people who get kicked off of YouTube It's I was watching various channels. There was a mortician who got. there's people who aren't political at all that are getting kicked off for absolutely no reason. and to me, that's the coolest thing about Rumbles.

They have a very clear terms of service and as long as you are following that, you're good. They don't do like a wishy-washy gray area that YouTube plays off all the time. and once again, I'm not even specifically diving into politics here. and eventually I think there's going to be more and more conversion and cross-pollination and that's honestly at the end of the day.

The best thing for creators? This concept of exclusivity deals like that was most prominent with Twitch. But now you see people. even me right now. I'm live streaming right now to both Rumble and YouTube.

They're both cool with it. It works. Um, it's honestly very good. It makes the landscape for Content creators that much more competitive.

I'm a big fan of it. All right. let's hop back over. Market Uh, the Spy sitting at 412 FRC looking good up one percent the dollar is continuing to vomit Tesla above 191 My puts on Tesla are absolutely boned at this point.

Uh, absolutely Boom. wait. Give An example: Destiny right there, left leaning Destiny's left leaning for sure I mean me? I'm not I talk about Finance I'm not really that political I'm a rumble partner. they there's a ton I mean they are now signing Gamers like there's a big Gamers that have nothing to do with politics I mean before? maybe I could find you a good example of it.

Uh, okay, so we're featured right now, but the show that was up like before I came up. it was people who were playing Pokemon Uh, so nothing to do with politics and I love to see that I love to see the content diversity if the entire right wing is adopted in Rumble It's just another biased platform if 4chan the app. uh, we need crossover voices to learn from each other and from analysis of ideas and thought if the entire right wing is another biased platform. but that's my point is, it's was there a lot of right leading creators? Yes, and they're still all there.

But now other people are joining who have nothing to do with politics and then the people who are joining there are left-leaning political people now. I Love it I Want that diversity I Think that's great for the health of the platform in terms of its usability in terms of its desirability. but then also in terms of just me being a like I bought Rumble stock I bought myself stock I'm sitting on it it's in my long-term account