Video Closed Captioning:
good morning good afternoon good evening
folks michael’s uber one rental at a
time and yes it is thursday afternoon
that must mean it’s the three amigos how
you gentlemen do today howdy dion
howdy you guys caught me uh getting
ready to watch my yellowstone episode
for the week oh very cool i love that
show yellowstone that’s that’s very cool
i’ve not caught up with this season
though
yeah like what do you remember a quote
oh i have a friend who’s a vegetarian so
in this last episode there was a great
quote about
uh the animals in the fields where they
grow your kale or something where they
kill the mice to kill the spiders how
cute does an animal have to be before
you worry about them i was like i’m
writing that down
that’s my
friend
very very very cool so uh and matt how
are you i’m doing awesome it’s always
fun here on thursdays absolutely well
this video is probably gonna be quicker
of the other three this just came to me
because reuters one of those news
channels and i get alerts on on my phone
uh president biden two minutes ago well
actually it’s probably seven minutes ago
now says
and remember we’re recording this on
thursday and this number comes out
tomorrow morning okay biden says
inflation data due out friday or
tomorrow will not reflect a recent drop
in some prices
so
i
you know don’t call me a conspiracy
theorist but i’m gonna guess he got the
number early
i’m gonna guess
and i’m gonna also guess it was pretty
bad that’s what i’m thinking so uh matt
why don’t we go to you first you reacted
pretty pretty good
uh-huh yeah only yeah yeah the only the
only thing the government hates
competition in is cheating and insider
trading yeah exactly so yeah so yeah i
think that’s pretty much how that’s
going to go yeah i mean again at the end
of the day if you
so there’s one area right that we care
about from an inflationary perspective
like truly care about and that’s rents
and cp and truly that cpi piece right
right and and the part of cpi of its
rents correct
that number over the last nine months if
you add it all up or ten months if you
add it all up if you add all of it up
it’s still nowhere near where it is oh
it’s not even not even close not even
close no he he is clearly pointing at
the last week or so drop in energy not
rent not food not lumber oh by the way
lumber’s up again not this not that but
don’t worry don’t worry
the number tomorrow
doesn’t incorporate the drop in energy
costs all he had to do was get the hush
rumor that there was another variant
yeah exactly that’s that’s what happened
yeah
yeah you you stop airplane travel from
lots of countries to other lots of
countries and you need less jet fuel
anyways it’s a it’s a miracle so dion
how about you you are you feeling better
about the number tomorrow that you know
it’s going to be okay because um biden
said so
well
since we plan for it yes we’re going to
be okay i mean oh no we will we don’t
want inflation because it’s a massive
tax really on the poor that’s the people
with that make less get impacted more
when when food costs go up by 30
i don’t feel it no and i eat out all the
time restaurants could double their
price i’d still eat on all the time
so
when you own appreciating assets
and you have debt and the debt gets
easier to pay off because there’s it’s
the what is it the inflation triple
crown yeah there’s three ways the debt
gets easier the rents go up there’s all
these things where impression inflation
helps us to a point we don’t want it to
go
to that yeah we don’t want hyper
inflation
yeah but for the people who vote
in mass numbers that don’t have
appreciating assets that are looking at
their fuel price and their heating bill
and their food uh i think
him coming out with a warning saying hey
don’t be too shocked tomorrow yeah
there’ll be some changes that aren’t in
this data yeah so i’m gonna play a
little bit over under is why i thought
this would be fast so again so here are
the numbers pre this announcement seven
minutes ago or now eight minutes ago
they’re exp so last month with 6.2
highest in 30 years the expectation is
for six seven i’ve been calling seven
one
i’m now going to call seven three
because of course
don’t worry about it so i’m going to
call 7-3 tomorrow do you guys want to
take the over under and do you want to
call a number we’ll go reverse or go
back to dion first
i’m i’m going to go with the over okay
so you’re going gonna go over seven
three and what number do you wanna guess
just a wild ass game
i don’t know if it’ll hit nine
nine oh i would i would say so i
don’t know if it’ll hit nine i’ll say
eight because i think it’s gonna be
we’ve got wage inflation based on people
having to basically be bribed to come
off of extra unemployment extended
unemployment to go back to work
unemployment the lowest it’s been since
1969 i got from a very reliable source
this morning right
people
have the money to spend wage inflation
wages set prices and absolutely i run a
business i get the ppi the the
yeah the business costs
before you produce it right
um that was 9-1 last month right our
prices are we’ve made adjustments for
the first time in a decade wow we’ve
been able to maintain prices and
eliminate costs to stay um profitable
where we were
this year it’s you know people are and
people aren’t even batting an eye
because they’re we’re just expecting
everything to cost more this year so i’m
going for eight eight percent okay so
the lumberjack matt what do you got so
again i’m calling seven three you got
the over the under and then what number
do you want in the sevens i think it’s
seven i think it’s over seven and i
think it’s probably in between the two
of you i think it’s like seven six seven
seven uh i think it’s
it’s gonna be it’s gonna be well here’s
the thing
largely speaking like i wanna trust that
number i think it’s crap anyway i think
it’s double but it’s an equally crap
number every month right yeah thus it
has value yep yep the number is equally
crap 100 well the difference is i don’t
know if it’s a percentage of crap oh
yeah like if it’s like it’s a variable
number is really 12 and it’s really 20
off that or is it 30 off that or is it
we’re just making up a fake number every
month anyway no so i do think again i’ve
looked at the number i haven’t looked at
it in decades like the math and formula
you can argue the variables you can
argue the example but
consistent crap it’s the consistent
craft so again it has been so consistent
for so long
it actually has value at least in my
opinion so again i think it’s i in this
in the eights oh my god if it gets in
the eights and again let’s play this out
because again let’s just say it’s eight
or above
that is going to mean jerome powell next
wednesday
doubles or triples
the uh taper which is gonna send oh my
god can you imagine what rates will do
tomorrow rates are gonna go nuts so what
i think is is i think if somehow
the government could just launch a
website successfully because it doesn’t
work very well on the other websites
they’ve tried to do
if they can just launch a website
successfully they can take that same
algorithm and start eye buying
open door or open pad and zillow they
could actually make them look good with
with their algorithm yeah they only lost
500 billion exactly almost half a
billion yeah that’s only a half a
billion in 18 months like who’s counting
yeah
okay well i uh is because again
yeah tomorrow’s number
oh
boy all right well we’re going to get
off this because i actually do have
three other topics that literally came
on my phone and i’m like well i got to
ask my two buddies where they’re at so
thank you for that uh dion where can
people find you
right here on youtube dion talk
financial freedom tuesday afternoons 4
p.m pacific standard time for after
hours talk and you had people
turning in this week 50 something like
they show up when you hit public it’s so
weird it’s weird when you didn’t
everybody show up to my private video
last week
it would have been a real problem had
somebody show up yeah exactly that’s
right
and matt how about you lumberjack
landlord on youtube at 11 30 a.m live
stream for three hours everything real
estate 11 30 a.m eastern time on
saturday as we cover it all right so
again folks i’m calling 7-3 the
lumberjack we’re going to say he’s
calling 7-6 and dion’s calling eight
wow let us know in the comments below
where you’re at it is going to be
interesting but don’t worry
it’s gonna be okay cause
he said so thanks guys adios