This is making money. Breaking right now, stocks continue to succumb to the summer doldrums. At one point should you start to worry . Pull up a seat. Weve got guidance for you. In fact some of the best in the business. Dan niles is on deck. Cameron dawson is on deck. You will get a bonus today. You will learn what a duck market is. Danielle dimartino booth is in studio where the fed goes from here. President biden celebrating the First Anniversary of the inflation reduction act. Theyre shifting to pravda mode to sell the product. We have homeless crisis and death crisis. It is awful. Former hud secretary ben carson is here at 2 50. Millenials have legitimate beefs but they may not like my answers when nothing is cheap anymore. All that and more on making money. Charles all right, so the market dealing with summer doldrums. Investors kind of hoping though, this recent weakness is just a seasonal thing. What is interesting is that professional investors, right, here in the yellow, are starting to get bullish, right . Theyre trying to catch up with the dumb money who rode out this rally big time from the very beginning. Of course they have a lot more at stake now, these pros, because they missed the first half of this year in the rally, only just begun to increase equity exposure. What is compelling here, the names that led this market. Some call them faang, a whole lot of names, the market darlings, right . At a double top, this is a chate grater mere, they are really bearish. Theyre starting to struggle a little bit. You wonder how much of a pullback they will really have. The thing is for retail ininvestors, theyre not moving into the defensive sectors. This is allocation of socalled defensive stocks it has never been lower. It is pretty clear. Ride or die with the names that are changing the world, fourth industrial revolution. Forget about wall street valuation metrics, nobody cares anymore. When retail hears higher for longer, theyre not thinking fed policy, thinking about not missing out opportunity after lifetime. With that bring in santori fund founder portfolio manager, dan niles. Dan, start with the broad market. Even though history suggests this market should rally, we should have a strong first half, have a strong second half, are you still looking for a 10 correction . Yes. And its very simple the reason why which is ultimately stock prices are determined by earnings and not in the short term but in the long term. And if you think about the back half of the year youve got about 40 million Student Loans that are going to start getting repaid starting in october. That coincides obviously with the biggest retail quarter of the year, the Fourth Quarter, the tail end of back to school. So you have already seen a lot of big Cap Companies cut the forward numbers. Apple cut for the Second Quarter in a row. Nobody cared after the march quarter when they cut june but they cared after they reported the june quarter, cut september. Microsoft lowered in their intelligent Cloud Businesses supposed to be benefiting from a. I. , right . Their 10 billiondollar plus investment in openai which does chatgpt. Tesla, margins were an issue there. Youre starting to see even in the magnificent seven as they call them, things starting to bifurcate depending on if you put up great numbers like google, amazon, nvidia, meta, or your numbers were not as good like microsoft. Et cetera. Charles you like certain highflyers. You call them, they do qualify as garp, growth at a reasonable price, including nvidia. We talked about that a lot last couple times you were on the show i want to ask you more about, youre more short than long right now, some of the things youre suggesting to investors to avoid. Got a board high growth, hardware, consulting, talk about avoiding these particular areas. Well i think the big thing investors are getting confused on hear a. I. , they hear Companies Say a. I. 50 times, and they assume every company is going to benefit, even if you take nvidia, the posterchild for a. I. , if you look at their foundry, tsmc for example, tsmc ended up cutting their numbers while saying a. I. Will help revenues grow in rai business by over 50 a year the next several years. Microsoft, obviously posterchild in software for a. I. , they have 10 billion invested in openai which produced chatgpt, they guided the intelligent Cloud Business below consensus, not by much but by a little in the falling quarter. Obviously recently super micro has 350 of their revenues riding a. I. Servers, they ended up cutting the September Quarter relative to consensus was after beating the june quarter. So youre really going to have to start picking stocks now, beginning of the year didnt matter what you bought, you could buy anything. They were all going up. Charles right. Speaking which youre focusing jackson hole which has been monumental the last couple years, right . Major news came out of there that really set the direction of this market. Later on this month the theme will be structural shifts in the global economy. You point this out in your note. There are three major shifts you focus on. I want to talk about them. China in the news right now. What are the implications because china is so weak . Well i think from a, well if you think about it from a demand perspective china buys the most smartphones in the world. They buy the most cars in the world. They buy the most pcs in the world. Theyre a massive consumer as they add more people to the middle class every year. And so if they get weak and theyre weak going especially into you know the back half of the year when all of these companies are expecting a big ramup in sales that will be a problem for a lot of u. S. Tech companies that sell consumer goods into china. I was talking about china more from a structural standpoint used to be for the last 30 years you offshore to china because they have big population growth, they have the population shrink for the first time in 60 years and thats, drives inflation. It isnt deflationary like it was before. Charles by the way that also gets to your onshoring concern which not just china but i think political and other things. After covid i think a lot of companies were concerned about what would happen if we went through another crisis like that unable or so overbearing, you know, overwhelmingly depending on one country. Before i let you go, dan, esg part of that structural shift, how does that play . Remember for the last several decades cheap energy fueled the growth in the world economies and esg is great but the problem is esg is a lot more expensive when youre switching off of dirty coal or oil, et cetera and that just makes things a lot more expensive to produce. A chip plant in arizona is twice as expensive to produce chips as a plant sitting in taiwan and so all of these things which have helped you in the past drive down deflation now theyre structurally higher, i dont know what the fed will touch on but it wouldnt surprise me if they hit one of the three things i brought up. Charles or all three, although, right now the political pendulum has swung where you have a democratic president following up a republican president with respect to that sort of some would call protectionism. I dont know how they can reverse that, at least with respect to politics right now. Great stuff, dan. Youve been spot on. Always appreciate you sharing your thoughts with us. Thanks a lot. Thanks, charles. Folks, coming up what do the dodo bird and affordability have in common. Tweet me cvpayne. Here is a hint. I wont give you a hint. I will talk about later in my takeaway. I bring in cameron diaz. You say the second half of the year will be a duck market. A duck market. Want you to explain. I will help out the audience. I do a little bit of artwork. Smooth on the surface but a lot of action underneath . It is picasso duck theme that shows the turn that could happen in this market. A duck looks like it is smooth but a lot of action as it moves its feet. There could be a lot of rotation in the market. You could see the tech stocks to continue to take a breather. They got really expensive. They are being hit by valuation compression because of higher Interest Rates. What were seeing better perform an out of things like cyclical value. Right. Look at growth, gdp now at 5. 8 today. Charles can the cyclical value and those names carry though the broad market . In other words, what i liked about recently as you, i dont mind, growth sectors, three major growth sectors in the s p are flat, even a little down. Weve seen days when they have been in the broad market is up, but can they carry the entire market . Likely not enough to push us into new highs. Meaning not enough to give us the escape velocity but enough to keep us from going into a deeper selloff, deeper downturn. Which means right now were not seeing signs of that indiscriminate selling, throw the baby out with the bath water, buy just defensives. It seems to people saying hey, valuations got a little stretch. Lets hunt for some better valuations. Charles you wrote in your note about the 50day moving average. You wrote certain stocks applies to the nasdaq 100, s p 500, all the majors are grappling with the 50 day. I always worry about that often after you Start Talking 50 day, the 200day, those are major declines. Is it imperative that these 50day moving averages hold . I believe to watch below the 50day, if we cant get above that the next level is the august high from 2022. It is around 4328. That is critical to hold to say we wont go down to the 200day moving average that is the really important level. I love that. That was so specific. Historically bond yields and the nasdaq traded hand in hand. Weve got bond yields and we had this year they have come down. They have kind of, you know, they are up again. This is an inverse chart. Bond yields are going to a place they have never been but when bond yields were going up the stock market was going up too but now the market is starting to pull back a little bit. The question is if bond yields going up is it inevitable it brings the stock market down with it . That has been the relationship in the past. We have seen the complete breakdown of the normal relationship between bond yields, mostly real yields which reached a new yeartodate high and tech valuations. So the same real yield we were back in october, even a bit higher, but tech valuations are 50 higher. That is kind of gravity that will be applied to tech valuations if we continue to see yields move higher. Charles before i let you go with all of this being said, near term anxiety, a changing of guard, where do we hide out . Where are you looking to put a majority of your money right now . Are you asking me to say quality again because you know i will . Charles [laughter]. Please dont say quality. So quality would be the smoothness of the duck . That is the top part . Yeah. Charles okay. Those names that dont have stretched valuations. That is always the most important part about quality investing you cant have quality at any price. Valuation discipline remains very important but it is also those names that have more earnings stability in the event that we start to see a little stumble on earnings. Charles great stuff. Great seeing you, cameron. Appreciate it. Folks, coming up, target, their terrible earnings report, in fact worst in six years, bad guidance. Guess what . The stock is exploding. Kristen bentz will figure its out and handicap walmart numb numbers. Ryan detrick has been a uberbull. So when he started to get a little worried i get worried. He is next. Somebody would ask her something and she would just walk right past them. She didnt know they were talking to her. I just could not hear. I was hesitant to get the hearing aids because of my short hair. But nobody even sees them. Our nearly invisible hearing aids are just one reason weve been the brand leader for over 75 years. When i finally could hear for the first time, i started crying. I could hear everything. Call 1800miracle and schedule your free hearing evaluation today. Im so glad we did this. Im so glad we did this. Im so glad we did this. Im so glad we did this. Im so. Glad we did this. [kid plays drums] life is for living. Lets partner for all of it. Im so glad we did this. Edward jones thats why comcast business de is launching theal. Mobile made free event. With our business internet, new and existing customers can get one year of unlimited mobile for free. Its our best internet. Powered by the next generation 10g network and with 99. 9 reliability. Plus one line of free mobile for an entire year. Its the mobile made free eventhappening now. Get started for just 39 a month. Plus, ask how to get one free line of unlimited mobile. Comcast business, powering possibilities. Charles folks to to say my next guest has a lot of influence and sway just might be an understatement. Recently janet yellen remarked she isnt looking for recession. Check this out at the time she made those remarks look what she was reading . Thats right, she was reading midyear Outlook Research from the carson group my next guest is the chief Market Strategist there. Lets bring in carson group chief Market Strategist, ryan detrick. My man, you didnt tell mee, congratulations is she right . Did she glean this from your work, no recession, toss it out . I wish she would have been listening to you eight months ago. Bull market, no recession. Theyre catching on, finally catching on. Charles funny you mention that, that goes for a whole lot of people out there, let me ask you though, how, one thing i noticed youve been tweeting about we should note be as concerned with some of these jarring debt numbers. Credit card debt a trillion. Auto 1. 58 trillion. Student loans, 1. 8 trillion, because you say at the same time net worth has gone up over that period of time 246 for instance, Credit Card Debt up 106 . Is that enough to make us feel comfortable because obviously there are certain income groups that are hurting here more than others . A lot of way i can take this, charles, i call it nominator blindness. Numerator, lots of credit card out there. There is lot of wealth out there. Credit scores are solid. Delinquencies, were not seeing massive spikes in delinquencies. Were aware were not perfect but as i have been saying a long time economy is strong. 5. 8 is what the atlanta fed looking for gdp in the third quarter. Might be a Little Pricey come back a bit. No depression. Just today, Industrial Production better than expected on heels of yesterdays retail sales. There is no recession coming, charles. Charles listen, talk about why you are anxious then because everything youre saying dovetails into what you were saying coming into the year but now youre starting to get a little bit concerned and i think it has something to do with seasonality. This is a chart you put up. Yeartodate is in green. This is historic. It followed history to a t. Were entering into this period. Tell us this period sideways make were more vulnerable in this market. Exactly. Charles, when i was on with you bullish, you see the tweets people were angry. I dont know why they were. Long term bears are sorry. Turning bullish. I dont feel as lonely now. Not the end of the world. The chart showing when you have the 10 gain first half of the year like we did this year obviously what happens next . Next couple months are historically pretty weak on average are kind of sideways and choppy. We had a little pullback. Maybe more is necessary. Not the end of the world as well. I look at calendar which is really right. We talked about seasonality in last three quarters with you. Maybe time for a break to frustrate those johnny come lately bulls. Charles to your point you shouldnt panic during the choppiness orbit of a correction because when it picks back up it is worth being long till. Amen. I think by the Fourth Quarter well see a typical strong Fourth Quarter you tend to see in preelection year especially like youve been strong. S p up five months in a row. Historically looking out after that, you tend to have really strong returns. I still think were bullish, maybe time for that seasonal weakness we want to try to remind investors here. Charles ryan, i know you let your work doing your talking for you. Maybe youre not superstitious. Not all the folks who thought you were wrong hopped on the bandwagon, does that make you a little uncomfortable . It does. That is one of reasons you could say, i liked when they thought i was crazy back in january came on with you we could hit alltime highs this year. People thought we were nuts. Were not that far away. It still could happen. My back hurts, charles, im carrying a lot of people jumping on. It makes me a little uncomfortable. Charles that comes with the territory being right. Just ask atlas, it is a lot of work. Thank you. U. S. Seeing a amazing mindboggling rise in homelessness, mindboggling spike in death rates. It is a national catastrophe. Dr. Ben carson here with solutions at 2 50. My next guest, rather, target they got slapped around pretty good. Management did swift actions, maybe they escape this. What is up with retail . Kristen bentz has the answers. Before we go to break, i want to share my snippet of fun with gutfeld. I had a message for our leaders. Whats happening in this country politicians in general are seducing people to doing this, particularly black kids. Its hard breaking, its scary but it just shows, another example along with the poor education and other things that they do not want black people to do well in this country and you have to wake up to see who really is on your side and who isnt. People like my mom said, hell no, you will not go loot, who you wanted on your side. Hell yeah. Amen. [applause] the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . I have type 2 diabetes, but i manage it well. Jardiance its a little pill with a big story to tell. I take oncedaily jardiance, at each days staaart. As time went on it was easy to seee. Im lowering my a1c. 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A promise is everything to old dominion, because it means everything to you. upbeat music awww. Awww. Awww. Nope. Constant Contact delivers the Marketing Tools your Small Business needs to keep up, excel, and grow. Constant contact. Helping the small stand tall. Charles so target, check it out. Actually the sales were down for the first time in six years. The company cut guidance big time. I want to bring in Kb Advisory Group founder kristin bentz. Im looking at it. I see the ceo addressed sort of the woke controversy. Maybe did it a slick way, trying to protect employees. Whatever it was, took the stuff down. Maybe things got a little better in july. But then they go out and lower guidance. Is that about the general economy or not necessarily Company Specific . Well i think a lot of targets wounds were selfinflicted and the way the ceo was using word salad to talk about that i find that a little interesting along with kitchen sinking the whole quarter. We had all sorts of things. I dont think people were rioting in the streets about their pride wear but that absolutely was a problem for them. So i think the consumer is telling yet another company we like your products, we just dont like your politics. Charles it was tough not to go to the store. I still havent been back. We will also admit the stock was dune 16 coming into this number. So the small bounce to your point maybe just a signal to the company, hey, get back to basics but the broader issue that was brought up and it has been brought up on this show today twice, Student Loans he is concerned about, just some other things. How concerned are you with respect to retail slowing down in the second half of this year . Well you know ive always had a reality check on retail for the past six months and i fearlessly follow the consumer and i think the student loan resumption is definitely going to take a hit in a lot of different areas, services, food and beverage, doordash, target, you know, coach, all of these kind of different betweener brands i think might get hit. So i am quite precarious going into the Fourth Quarter with the consumer and their ability to keep spending when theyre hit with these new payments. Charles so there was a major, major takeover. Capri being acquired and i guess, that is the considered the luxury space. Any other potential acquisitions out there . Well you know i always think there would be something interest if lvmh got their hands on chanel or hermes. It would be a french steel cage match i be interested in watching. I dont know, bernard arnault, he is a very clever businessman. I think that is something he would love to get his hands on. Charles i would like to see their magic on tiffany, in my mind needs to be buffed up. Still early for that. Before i let you go, you like walmart. Walmart has been performing extraordinarily well. What do you think about them . I think this will be a great quarter. Walmart will sandbag because they have like Great Companies like hr, nike. They have such a hand on the the on consumer. They have Real Time Data that is impressive. I think they know their consumer more than other companies out there. I think theyre realistic. I think this is a solid growth for them. Charles the grocery help a lot. If target is up today, you have to assume walmart maybe will get a bump too. Kristen, appreciate it. Thank you. Charles i want to bring in peapack private wealth managing director principal david dietze. Let me pick up on that conversation. So a lot of anxiety out there. Some people are saying hey were a little too excited out there. You look, for instance, i didnt get a chance to ask kristen about retail sales, real retail sales adjusted for inflation were down, not up. Where are you on this economy . In some ways it is a goldilocks situation here. Inflation has been the big 800pound gorilla but it is going in the right direction, it is coming down. At the same time the concerns have been recession. The number one indicator whether youre in recession whether people have jobs. We still have a three handle on unemployment. What are people doing with the money . We saw a 70 basis point increase in retail sales in july. So it is best of both worlds, inflation coming down, economy staying strong. Finally it is the federal reserve. What will they do . Ultimately they take their cues from the economy. By all accounts charles we cant have it both ways. If the fed is listening to you right now they still think we have to keep hiking rates . We may see one more rate hike perhaps in november. The odds are against it. I dont think well see anything in sent. I dont think they want to punish the economy as long as inflation is moving in the right direction. I dont feel they want to take the risk of another hike. Remember 4550 points have been injected in the economy. This policy works on longterm basis with variable with a lag. Theyre nervous as to what is still in the pipeline. Charles all right so one of the big wild cards this year was when Silicon Valley bank went out. Banks stokes got hammered. You came on the show and buy bank stocks. They held up. Even when they were under pressure they kept coming back. Fitch is in the picture. You still like the bank call . I still do. Theyre down 40 from where they were in february. Im looking at fitchs call. Im saying, one of the reasons for their call if the country youre operating in is downgraded all the companies youre in must be downgraded. Does anyone agree with their call on the u. S. Government debt . Warren buffett said that is the last thing to worry about, u. S. Government not paying debts. If theyre wrong on that call charles not paying it but paying a trillion dollars in interest, that is more than we spend on education. That is a trillion dollars out of the economy, out of the governments budget. Doesnt that have a a deleterious effect, doesnt it have a Ripple Effect . There is deficit spending. Ultimately deficit spending is stimulative. Perhaps that is one of the reasons the economy is hanging in there. Charles so we should go to 100 trillion . [laughter] longer term is a problem. Charles what is after a trillion. I dont even know. They use 100 qillion or something. Before you go, you have got two stocks. So intriguing to me. You like pfizer here. People are treating it like a one trick covid pony. We got the vax and paxlovid is the therapeutic. Theyre taking the stock down from 62 to the mid 30s. This is blue chip. One of the finest companies out there, 4 1 2 dividend, three times the s p 500, trading half the market multiple. They have a full pipeline. Guess what . Unfortunately covid19 may not be over. Weve got the e5 is now lurking. Current vaxes may not work for it. Charles do they have any fat drugs . Do they have anything that can lose weight, if they have any kind of fat drugs im buying the stock tomorrow. Until they get one of those i keep it on my watch list. David, appreciate it. Thank you. Charles coming up, folks, the Biden Administration ditching out work like to dish out another 24 billion with ukraine but their supplemental budget had nothing for the homeless crisis. I will ask dr. Ben carson for his reaction. Also what do you think his solution should be. Lets go back to the fed topic with the best. Danielle dimartino booth. Well go through the fomc minutes and get her analysis next. You cant buy great conversations or moments that matter, but you can invest in them. At t. Rowe price our strategic investing approach can help you build the future you imagine. T. Rowe price, invest with confidence. Charles were trading a little over half an hour, giving market time to digest the minutes. Now we go to Lauren Simonetti for real details. Lauren. Reporter charles, so, yes, there is some discord in the committee. After the Committee Voted Unanimously to raise rates a quarter point to the 23year high weeks ago, the Committee Said this, a couple participants indicated they favored leaving the target range unchanged. So they preferred Holding Steady even though they didnt vote that way. The committee noting up side risks to inflation. They say it is critical to return to the 2 goal. Right now inflation is running at a 3. 2 pace. There are three meetings left this year. The next decision comes september 20th. The fed also said there is significant probability of a recession at the end of 2024 with a softening of the labor market expected. Charles, next up, jay powell, jackson hole, starting august 24th. Remember last year he dropped the pain bomb, rates would stay higher for longer . Causing pain to households and businesses. Here we are a year later. Rate ofs are still high, potentially going higher. And the fed notes this, labor is still tight. Consumer spending, resilient but there is warnings and there is warnings in these minutes. Banks will continue to tighten lending standards for credit card loans and mortgage credit for lower credit score households is now tighter. In sum, my opinion, cracks are forming. Is it a result of the rate hikes . So do you pause in september again to wait and see or if you pause, do you run the risk that inflation, charles, is embedded further in the economy . Charles great, great stuff. By the way that that drago momet about pain hurt the market. Lauren, thanks very much. Since the meeting and those minutes we heard from all members of the fomc and they have had comments. Heres the thing, philly fed president harker he says he is willing to pause. He wants to prep even for rate cuts but fed governor michelle bowman, she is still looking for more evidence of inflation. She shea it is tamed. Want to bring in Danielle Dimartino booth. We on team bowman, lori bowman, lisa cook, christopher waller, man named jay powell. Who will win this battle . Charles jay win the battle if f 22024. Three dissented. He is prepared to dissent because he wants to maintain the higher for longer stance. Charles he is the most hawkish one in your opinion . In my view, he cant really come out just saying that but i really do think this is his mission. Charles we have some people, i remember when they first started hiking, fed started hiking rates here, they went crazy like this, my question when will they stop . The answer i got from a lot of folks when fed fund rates are higher than core inflation, were there now. Is that a signal then to at least pause . Were technically restrictive, running restrictive policy. So there is a signal to pause but by the same token the minutes, the minutes stated that a lot of companies, despite higher Interest Rates are having no problem servicing their debts that is the feds code saying financial conditions are still loose, people. Charles right. Also i think, i forgot who put out the table, i wish i had it, a lot of that debt, these companies are fixed pretty good. They dont need money for a long time. The maturity wall so to speak doesnt become problematic until 24 and 25. Not the same thing with commercial real estate currently refinancing. But for corporations they have got some time. Charles lauren mentioned consumer credit, the credit crunch. Look at this, this is the new york fed, that Senior Lending officers survey, we have never seen a spike this sharp in terms of how quickly they tighten their lending standards, and yet still that crunch doesnt feel like it is upon us. I think the crunch is there for people looking for credit that dont necessarily have the best credit. In fact another new York Fed Survey found that rejection rates in the next 12 months are poised to be higher than they have ever been in history as the minutes said, across credit cards, autos and housing so were there. Lenders are preparing to tighten up even more. Charles i do hear from businesses more than i do from the data theyre ready. We heard from target, almost everybody company reporting in the last two quarters are bracing for something that is still not in the data yet. I want to switch gears. First anniversary of the inflation reduction act. We have this piece from janet yellen. As i am reading it i hate to say it, it is like it was prof today. I didnt like it. The word i used yet was unamerican. Were not encouraging unprovable enterprise. That is no what the founders envisioned. Theyre taking the governments money. That doesnt mean theyre profitable in their missions. I dont applaud her message. Charles that bothers me because all the materials come from china. They control this whole thing. Got lithium . Charles exactly, lithium, cobalt. By the way there is limited supply of that as well. I cant let you go without asking the biggest question of them all. Right now Government Spending is surging again, its surging. Meanwhile receipts are plunging this is a crazy equation. How long can we live with this equation . Apparently we can live with this for a long time. Come california, california pays taxes some of this will be corrected. They had time to pay their income taxes. That is part of aberration. Part of that is the uncle sam is spending like a drunken sailor. Employee credit put 30 billion in the economy month of july. That is 4 billiondollar an all the run rate. Uncle sam is giving money away. Until that ends, efficient and prosperous leading to long term prosperity well keep spending inflation will not really get to a target this gets me riled up. Charles can inflation get to a 2 target with this imbalance . It is difficult to get down to 2 if youre spending without caring how youre spending it or how efficiently youre spending it. That is how other government is spending great stuff, danielle. The message is honest but i appreciate it. Still to come my takeaway on the affordability, i will give millenials props, nothing is cheap anymore but you may not like what you will have to do to adjust for that. First we have former hud secretary ben carson and were going to talk about this homelessness crisis and this death crisis. Theyre both at record paces. He has got some Solutions Coming next. Hey like your workplace benefits. And retirement savings. With voya, considering all your financial choices together. Can help you be better prepared for unexpected events. For a brighter financial future. Thanks. Ahh, pretzel and mustard. Another great combo. Voya. Well planned. Well invested. Well protected. phone typing message sound message sound shut it down blackpink in your area shut it down whatwhatwhatwhat . Your record label is taking off. But so is your sound engineer. You need to hire. I need indeed. Indeed you do. Indeed instant match instantly delivers quality candidates matching your job description. Visit indeed. Com hire dad, we got this. We got this. We got this. We got this. We got this. Yay we got this. We got this life is for living. We got this lets partner for all of it. Edward jones wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Charles so yesterday i shared my thoughts on the homelessness crisis in america which is skyrocketing at a time, at a time economists right, Financial Media all show long. They keep marveling how great the economy is. The wall street journal published shocking numbers this week, i got to tell you were now waiting to see what we get data from hud, housing and urban development. They put the official numbers together and with me now former hud secretary dr. Ben carson. Dr. Carson, thank you so much. Welcome to the show. Thank you. Charles i saw an article in 2017 when you were secretary of the housing and urban development, you wrote, it was in usa today, we know how to end homelessness. It has spotten particularly worse in the last couple years so what is going on . We need to analyze the data. You know Housing First has been put forth as a solution. Housing first only gets people off the street. In a decade 90 of them end up back on the street. We need housing second and housing third. Housing second, diagnosing the reason theyre on the street. 60 of them are on the street because of Mental Illness or drug addiction and housing third is fix it. If you dont fix those problems, youre spitting in the ocean. Also found that the best solutions were the ones in which federal, state and local government worked along with forprofits, nonprofits, faithbased organizations. When they all Work Together real tangible solutions are quite eminently possible. We also made it a priority, we had the council on ending obstacles to Affordable Housing t involved eight federal agencies and number of voluntary agencies and those are the kind of things that work but it requires that kind of dedication. Charles right. You know, uc San Francisco put out a piece saying in california for instance because of all the regulations and all the red tape you cant build Affordable Housing. A lot of people believe wall street bought up so much housing not deliberately theyre sitting on a bunch of empty homes because it helps the price go up. Let me ask you about another crisis. That is the decline in Life Expectancy in the united states. It is lurching into free call. There is a report out overall Life Expectancy in america, black american population, this is amazing with, very 1. 63 million excess deaths. It is equal to 80 million years of potential life. Whats driving this . People are not living healthy lifestyles. And we also have a major increase in suicides. In 2022 we had the highest number of suicides on record. People are feeling unhappy. There are some things that have happened in our country. We look back at the founding of our country. One of the things that impressed the de tocqueville so much the faith of our people. We have thrown away our faith. We dont believe in anything. We dont believe in anybody. We allowed ourselves being manipulated into hating each other on the basis of race, income, age, religion, political affiliation, gender. We have got to wake up and we need the kind of representative that will help the people to see that we are being manipulated and, you know a place that used to be a happy, thriving place where people had hope. Charles yeah. And freedom is disappearing. And only we can stop that. Charles i got less than 30 seconds to go but i think it is a Perfect Question after what you just said. You have a new Organization Called american cornerstone institute. I have dont have a lot of time but please share what your mission is. Americancornerstone. Org, focusing people on cornerstone principles that made us great, faith, liberty, community and life. We also have a little patriots that focusing our children what made us great, what principles are, the good,ed bad, the ugly, the fact of the matter there is a lot more good than bad and ugly. Charles dr. Carson, i always get goose bums when i talk to you. Youre a great american. Folks check out the website. Thank you. Charles well be right back. upbeat music woah. Constant Contact delivers the Marketing Tools your Small Business needs to keep up, excel, and grow. Constant contact. Helping the small stand tall. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. Charles all right, is so everyone knows i give millennials and genz a hard time, but today i will admit they do have some legitimate gripes, but then again, all americans share. Nothing is cheap anymore. Earlier this year there was an article that point out 12 things that used to be normal and now theyre luxuries like eating out, calling a business and actually talking to a real person, unbiased news, medicine, hotel prices, checked bags, sport games, Vehicle Rentals and a gallon of gas, of course, nonstop flights, forget about it. And everything today is a collectors item. I are to say a lot of this is is the culture of yolo, you only live once, fomo, fear of missing out. Young adults acting like theres no tomorrow. So guess what . Put off travel. You cant eat out every night. Come on, i mean, forget about it. As far as everything else, stop ignoring, you know, your friends, and if you have the disagreement with them, so what . Stay friends, right . But there are things that are out of your control right now. Some major breaking news this morning. We will no longer have any new rides in america priced under 20,000. Mitsubishi pulling the mirage. Now, it started at 17 grand, but to be honest, no one was buying it anyway, right in you wouldnt have bought one of those things to save your life. Now you will have to settle for a hoopdie, a cheap, brokendown ride. It can be any size, make or model, but it must be embarrassing the drive for some reason. The good news, you can tell your friends its a collectors item. Housing, of course, also too expensive. In fact, this is the most unaffordable the Housing Market has ever been, but its going to change in three ways. If home prices come down 41 , your income goes up 61 or mortgages drop 4. 3 percentage points. Ill be honest, that aint happening no time soon, so you can stay with mom and dad, or you can form a new house hold. Gut it out, folks. I like the latter because it will force you to ditch all of those apps, all of those online are subscriptions, all of that ordering in. Youll learn how to cook, right . Yeah, youll probably have to work two jobs but, get this, while youre doing that, right, along with skipping those trips, youre going to bring down airfare prices. If you stop traveling every friday when you tell your boss youre working at home, air prices are going to come down. If youve got to have the latest condo, sooner or later Home Builders are going to make affordable houses. At some point if young adults will sacrifice just long enough, maybe a year, two years, maybe three years, if you stop spending all your money on all these things that are so expensive, its call supply and demand. Stop demanding it, let the supply come down, and youll wake up one day, and youll be able to have an affordable house, and youll have life skills. Youll actually be able to cook up a meal that youll eat and enjoy. Bottom line, folks, the ball is in your court. Meanwhile, im give the show to Ashley Webster in for liz claman. This last hour of trading, ashley, im a little anxious about it. Ashley i can tell that, charles. To get back to your advice, just are relax, chill out. The prices will come down. I love it. Charles there you go