Fed Hikes Rates, Oil Affordability Crisis & Paramount Threatens California Exit
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Why are the richest 580 billionaires not making the Forbes 400 list and what does it say about income inequality?
Did you ever think you were made good? I feel on something so it takes sweet victory. No this life may have for me. Adam, what's your point? The future looks bright. My handshake is better than anything I ever saw. It's right here.
You are a one of one? My son's right there.
I
don't think I've ever said this before.
Okay, just so you guys know, I got some bad news. I don't know if you guys heard this or not. This just happened. A lot of people are not happy about this. Forbes four hundred list billionaires. Do you know 590 billionaires were not rich enough to make it on the Forbes 400? Yes. Catastrophic. Times are hard. You know, and then number came out saying Americans' income hits record high. Then people are like, wait a minute, whose income's hitting record high? Top is hitting record high, but at the same time, lower earners lose ground. So the whole concept of rich getting richer, poor getting poor, affordability, we got some of that that we'll be talking about today. Uh Umberto came in today pissed off. He parked his car uh five hundred yards away and he walked here because he's trying to save money on gas.
And so he parked no longer he po he walks. He was sweating, it was wet. You know, he knows what I'm talking about. His mustache all uncreomed. His mustache. Look, as much as we're laughing, having fun with this, people are having a challenge in time with uh gas prices. We're seeing it with diesel, and I'm sure you saw the story on uh J. JP Morgan Chase, they're asking the JP Morgan Chase analysts, and they say, Can you model what's going to happen with oil prices? He says, I don't have a clue what the hell is going on. When have you heard an analyst saying I can't predict what's going to be happening with the marketplace? And because of that, we decided to bring two guys in: Snyder, Jeff, very smart guy.
He comes here, he gives us a workout here. Him and Tom fight it out on who's more smart. He'll get both of them going. Get home. No, you fight a lot. You guys fight hardcore.
That's off air though.
That's all fair. And then we also have the good look in, handsome. Could have gone a different direction in his life, could have gone in Hollywood, maybe done Top Gun Three. I don't know. He could have done a complete different uh direction, but we got the great Will Witt here with us as well. So with that being said, let's get right right into it. I'm glad we put him in the middle of these two, so they're not fighting over brands. No, you don't need the brands. Let the good looking guys. Look, when we need sports commentary, we're gonna go to Will. We have to give us up with Will knows a lot about sports. That's another one. He just made it very clear on how much sports he watches. Growing up and uh maybe he'll share that story with yeah exactly.
So uh okay, Paramount leaving California. Where are they going? Nobody knows. There's some speculation, but what everybody knows is they're leaving California. Now why would a company leave California? It's not like they're doing anything bad. Alicia, you can bring in no problem, but they're leaving California. Number two, Massey wants to impeach Hexet. Johnson wants to shut down The you know, um The government. Massey saying, why are we doing this if we're about to lose midterms? We got only a few months left to fix this. Others are saying, why are you going after hexit? This is not the way of doing it. Maybe we'll have that conversation here together. Then you have the Fed rate increase that happened. Kevin Warsh, Tom was panicking for a few weeks, worried about if that was gonna happen or not.
It did. Rates went up a quarter of a basis point. He came out, and uh some say he's trying to be his own man, some say he made the right decision. Some are upset at it. The bonds folks, like um, what's his name? Jeffrey Gunlack. He he thinks it needs to go up even another point. Trump thinks it needs to go down to one percent. We'll have that conversation, how it impacts uh you as the individual that's going through this. And then uh we talked about that in a minute. Houthis drone strike over Mecca, and the Saudi's like, wait, what are you doing?
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Chapters
7 chapters
1
Why are the richest 580 billionaires not making the Forbes 400 list and what does it say about income inequality?
0:02–25:22
2
Why did the Federal Reserve raise interest rates and what are the arguments for and against that move?
25:22–1:02:40
3
Why is diesel hitting record prices and how does the crack spread explain the looming energy crisis?
1:02:40–1:03:42
4
What personal hardships and early‑life challenges does the speaker describe?
1:03:42–1:17:37
5
How do the hosts explain the post‑2008 income and mobility trends affecting Millennials and Gen Z?
1:17:37–1:41:49
6
Why is Paramount considering leaving California and what are the potential economic impacts?
1:41:49–1:56:09
7
What is the current situation with Saudi Arabia, the Houthis and the Red Sea oil‑shipping crisis?
1:56:09–2:06:33
Speakers
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