Barry Habib

So that kind of causes recessive aspects with the market.

And when you cut rates, when the market goes up, when house prices go up, then the wealth effect happens where people have more money and they spend more money on goods and services and that pushes prices up.

So it's a question of do people need more money or do things need to be less expensive?

But the people who own things right now, like say the boomers, for example, who own like half the wealth.

Is that just because of rates, though, you think?

Because it looks like that lines up pretty closely with where rates are, even going back on that chart.

No, because rates were...

I mean, but every time the Fed tries to help the economy, they end up overcorrecting and making the situation worse.

Yeah, I can't say it stated strongly enough.

I think it's the most poisonous, toxic, horrible thing in our society that some group of old people controls the price of money.

Because, you know, what socialism or communism is, is when a board of people control the price of things.

But the most important thing in our world is money.

So they control the price of money and they get it wrong every time.

So I think that's one of the biggest problems that we face, that and the gold standard getting taken out.

Well, guess what?

We have now come to the other side of the supply chain, right?

This is, to me, this is supply and demand.

Now, call it AI, call it adjustments, call it, say, CEOs are using AI and AI washing to justify right-sizing.

By the way, Meta came out.

Remember I called them out, Pat, and I said that some of those job layoffs were from the metaverse, right?