← Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
5 Shocking Predictions for 2025
00:36:44
In this “Best Of” episode of The Rich Dad Radio Show, we’re bringing you the most jaw-dropping, insightful, and important moments of the year. From global economic threats and the collapse of the dollar to war-driven resource grabs and the rise (and...
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- [00:00]
Robert Kiyosaki
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- [00:11]
Richard Duncan
Card using Apple Pay.
- [00:13]
Robert Kiyosaki
Apply for Apple Card in the Wallet app on your iPhone today subject to credit approval. Variable APRs for Apple Card range from 18.24% to 28.49% based on creditworthiness rates as of January 1, 2025. Apple Card issued by Goldman Sachs Bank USA Salt Lake City Branch terms and more at applecard.com if you work in quality control at a candy factory, you know strict safety regulations come with the job. It's why you partner with Grainger. Grainger helps you find the high quality and compliant products your business needs to inspect, detect and help correct issues. And the sweetest part is everyone gets a product that's as safe to eat as it is delicious. Call 1-800-GRAINGER clickranger.com or just stop by Granger for the ones who get it done.
- [01:00]
Jay Martin
Hey everyone.
- [01:01]
Robert Kiyosaki
While Robert takes a short break from.
- [01:03]
Jay Martin
The studio, we've put together some of.
- [01:05]
Robert Kiyosaki
Our favorite moments from this year's Rich Dad Radio Show. We hope you enjoy the highlights. This is the Rich Dad Radio show, the good news and bad news about money.
- [01:18]
Gerald Celente
Here's Robert Kiyosaki.
- [01:19]
Richard Duncan
Welcome back, Robert Kiyosaki of the Rich Dad Radio Show. Our guest today is Richard Duncan, longtime friend. I came across his book Dollar Crisis, which really resonated for me because I don't trust the US Dollar. And Richard on top of that is a macro economist. He lives in Thailand and his viewpoint on the world is pretty unbiased, yet caustic. And every time I've had Richard come to my seminars in Phoenix after he spoke, I had to put people on suicide watch because Richard doesn't hold back as to what is not working in the economy. And I was talking to Richard. I was in Thailand in 96 after the Thai baht crisis and some of the best real estate in the world in Bangkok was really, really cheap. So my point here is Richard gives the bad news, but it's also good news for the entrepreneur if you know what you're doing, if you can play your cards right and all this. So Richard, this guy Trump, he's a good friend of mine, he's talking about tariffs. What is your point of view on tariffs on whatever he's trying to do?
- [02:34]
Jay Martin
Well, so I can tell you, if he said he's going to put 60% tariffs on all the goods coming from China and 10 to 20% tariffs on all the goods of all of our trading partners. Now this is going to be a disaster for China's economy because as we've already discussed, China's economy is already in a severe crisis because of the falling property market. But if he were to just, for example, if he were to put high tariffs on Chinese goods and not put tariffs on any of the other countries in the world, just China, those high tariffs on Chinese goods would mean that China would be able to sell much less to the United States. So China would be much poorer. And China then would buy far fewer goods from Thailand and Vietnam and Germany and the United States and all the other countries in the world. So that would also depress the economies all around the world, just if he only focused on China alone. So that's what has all of the Asians very worried. And not only the Asians, of course, the Europeans and the Mexicans and the Canadians. So if that's, that's a concern because of that reason, but also if there are higher tariffs, that means that the cost of goods in the United States are going to go up. And if the cost of goods in the United States goes up, there'll be more inflation. So recently the Fed has been cutting interest rates. But if inflation starts to pick up again because of tariffs and because of deporting a lot of workers, then the Fed's going to start increasing interest rates again in the United States. And that's going to be disastrous for the stock market because the stock market there is so overinflated already. $50 trillion of wealth has been created over the last five years. A 40% increase in wealth. It's very bubblish. And tariffs could be the pin that pricks that bubble and brings about a very significant correction in 2025. Bond yields are already moving up very Sharply in the US as well as the UK we were talking about the UK earlier, but just over the last few weeks the 10 year bond yield has shot up to almost 5%. It was expected to go down because inflation has been dropping, but in recent last three months it's moved up sharply. And because it's moved up, the dollar has moved up very sharply. And that's not what President Trump is hoping for. President Trump is hoping to make the dollar weaker so it'll be easier for American companies to sell their goods abroad. But right now there's fear that there will be higher inflation. And so the dollar and to 10 year bond yields are moving higher. And if bond yields are moving higher. That means mortgage rates are going higher. With mortgage rates going higher, that's going to weigh on the property market.
- [05:32]
Richard Duncan
How close to war are we getting? Because as you know, Richard, is money and war go hand in hand and you threaten China and you have our fleets all over the world. How close to war are we getting from your point of view as an American sitting in Thailand watching Trump kind of a bit. He's a friend of mine, but he's a bully. He wants to get what he wants. But how are we pushing to war? Or is that too far pessimistic?
- [06:06]
Jay Martin
I'm very worried about US national security because even though China's economy is having a property crisis, that doesn't mean that China's government is slowing down its economy. Extraordinary surge in investment in new industries and new technologies. That's why they dominate electric cars and batteries. That's why they have hypersonic missiles and we don't. That's why they had 5G for several years before we got 5G. They are overtaking us technologically. And if they overtake us technologically, they're going to overtake us militarily. And this is happening very quickly. You know, this is like this is what was happening in Germany in the early 1930s. Winston Churchill warned the world that Germany was industrializing and was becoming a very serious threat. Well, we're past that point with China now. China is neck and neck with us technologically. And if we don't respond by ourselves in the United States investing more aggressively in new industries and new technologies on a very large scale, then we're really in danger of being conquered by China in the not too distant future. And so that's why I was so excited when President Trump announced on September 6 in a speech at the New York Economic Club that he was going to establish a US Sovereign wealth fund to invest in new industries and new technologies. And the main reason for doing that is because we could produce technological miracles and breakthroughs and, and ensure that China never overtakes us technologically. And meanwhile, that sort of investment would turbocharge U.S. economic growth and allow us to grow out of our economic problems rather than being sucked down into depression. We could have a major economic boom if we invest aggressively in new industries and new technologies. And so that's the policy of President Trump that I'm most enthusiastic about. Establishing a US Sovereign wealth fund. Yes, I'm very worried about China. And every American should be. And that's why they should get behind this idea of the US Government financing a multi trillion Dollar investment in the technologies of the future. That was what my most recent book was about. The money Revolution. How to finance the Next American Century. How to drive the economy forward.
- [08:24]
Richard Duncan
Welcome back. Robert Kiyosaki, the Rich dad Radio Show. The good news and bad news about real money. And our guest today is a friend of mine, Jay Martin. He puts on the best program. I mean, this is the Vancouver Resource Investment Investor Conference. And people think, well, that sounds kind of boring. You know, it's about dirt or ground, but it is about real money. It's about real money, but it's also about war. And so Colonel McGregor is there when he speaks, Man, I tell you, you know, I was six years a Marine pilot, and I was, like I said, I was in Vietnam. I know what I was there for. I was there for the money, you know, the resources. And today we have the Ukraine and we have Saudi Arabia and the Middle East. There'll always be war there because they have oil. But I'm also starting a mine in Canada with lithium, as for batteries and solar panels and all this stuff. But it's real money. It's just real money. And it's a real show. And it's fascinating because the people, the speakers you have, the lineup is incredible. So if you're really into your financial education and you're tired of this fluffy financial planner stuff, invest for the long term in a well diversified portfolio. Have stocks pass. I don't touch that crap. It's garbage. Comments you want to make there, Jay?
- [09:48]
Robert Kiyosaki
Yeah, well, you, you mentioned Colonel McGregor, who's like a favorite of mine, and he's very outspoken, very controversial. He rubs a lot of people the wrong way. But I think he's a truth teller. And what he does extraordinarily well is get into the actual incentives behind these wars that are breaking out globally because it's so easy to get lost in the headline and the narrative. But to actually understand what's occurring is very important. And so, you know, before the break, we talked about some of the statements that Trump's made about his ambitions for Canada or for Greenland. What's really at the root of that is the resources in Canada, in Greenland, you know, you could look at the Russia Ukraine war, and you should through the exact same lens. Russia is the largest commodity exporter in the world. Those resources don't just end at the Russian Ukraine border. They continue. There's trillions of dollars of wealth beneath the ground in Ukraine. That's why America is so invested in that war, is because not only do they want access to those resources, but they want to prevent access to the Russians. And these resource wars are really how I would describe, you know, the hot conflicts that have broken out over the last few years. And, you know, it's, it's. I believe that's where investors should start. They should begin by trying to understand those global dynamics. And then once you have a good grasp of that, then, then you move into the macro, because the macro is usually in response to those global conflicts. Right. What is monetary and fiscal policy doing and why does that matter? Well, generally speaking, it's in response to what's happening at a global trade level. And that'll determine how much stimulus we're going to have to print and how we're going to have to inflate the currency this year to keep funding the war effort. You know, there's a lot of very inflationary policies in the pipeline right now that I think people are sleeping on a little bit. You know, tariffs, for example, are maybe the right call, but those costs always get put back onto the consumers. They're very inflationary by nature. We're looking at deporting a large percent of the labor force, like maybe for the right reasons. But you deport the cheap labor, that's inflationary. And you want to reshore industries. Again for the right reasons. I think it's a great policy, but you're taking industry away from cheap labor, getting that done in America at a premium. That's inflationary. And so we're going to run into some problems in terms of purchasing power. In addition, your book is just perfectly timed because everybody focuses on the $2 trillion of deficit that we run each year. But there's $100 trillion in off balance sheet liabilities in the United States. That means future promises to pay. Those are financial commitments that the American government has made in the future. So that's pensions, largely. Right. Military commitments. And we don't know where we're going to get that money from. But $100 trillion is a lot of money. And I could guess we're just going to print it. We will deliver on the nominal value of those commitments, but with a very devalued currency. That's the only way to get there. And that's what brings me back to the commodity sector, because as you said, that's the real stuff. And money is just a unit of exchange because you have something and you want something else. But we can't always just have a simple trade. So we need a universal unit with which we can exchange. Right. And that's all Currency is. But what really holds the value is the stuff that currency buys, right? The real estate, the assets, the businesses and the commodities. Right. And that's my wheelhouse. That's where I spend all of my time is in the mining industry, in the commodity industry. I love it. I believe if you love studying commodities and then you use that as a lens to interpret the world, it's kind of like watching a real life Game of Thrones because countries are jockeying for power left, right and center to get access to the stuff. And that's really just Are you getting richer or poorer?
- [13:56]
Gerald Celente
Because right now the rich are getting richer while everyone else falls behind. Why fake money? The government prints trillions of dollars inflating your savings while the rich move their wealth into gold and silver. Gold is surging. Silver is skyrocketing. The smart money isn't waiting. They're getting out of dollars before the next crash. And here's what most people don't know. You can legally move your IRA or 401k into gold and silver. Cover 100 tax and penalty free with my friends at Priority Gold. This is how the rich shield themselves. They don't save fake dollars, they save real money. So don't wait. Get Priority Gold's free wealth defense guide now and see how the movie your savings into something real. Text GOLD to 24999 or go to prioritygold.com right now. Text GOLD249 999 or visit prioritygold.com and get your free no obligation wealth defense guide. Because waiting makes you poor. Taking action makes you rich. Are you getting richer or poorer? Because right now the rich are getting richer while everyone else falls behind. Why fake money? The government prints trillions of dollars inflating your savings while the rich move their wealth into gold and silver. Gold is surging. Silver is skyrocketing. The smart money isn't waiting. They're getting out of dollars before the next crash. And here's what most people don't know. You can legally move your IRA or 401k into gold and silver. 100 tax and penalty free. With my friends at Priority Gold. This is how the rich shield themselves. They don't save fake dollars, they save real money. So don't wait. Get Priority Gold's free wealth defense guide now and see how the movie you're saving savings into something real. Text GOLD to 24999 or go to prioritygold.com right now. Text GOLD24999 or visit prioritygold.com and get your free no obligation wealth Defense guide because waiting makes you poor. Taking action makes you rich.
- [15:55]
Robert Kiyosaki
The real narrative behind so many of our news events, so many of these global conflicts, it's what drives elections and much more foreign.
- [16:09]
Richard Duncan
Welcome back. Robert Kiyosaki, Rich dad radio show. Longtime friend and guest Gerald Celente. But Gerald and I are going to talk about today. He's the Trends Journal. I suggest everybody get a copy of it. You want to find out what's going to happen in the near future. But we're going to talk about AI because AI sounds like dot com. And I remember when everybody was rushing into the dot com world, the, you know, everyone was just throwing billions at it and when it crashed, the economy crashed with it. So my concern is this AI is going to suck it down the, down the gurgler. You know, there's too much money floating out there. And the banksters, as gerald calls them, J.P. morgan and those characters, they're just licking their chops because they're going to make so much money because they make money whether it goes up or it comes down. So they have AI as the AI is the. Was that from the Chicago fire? The woman, the cow kicked over the lantern when she was milking the cow and it burned down Chicago. And so do you think AI is going to be that fire that starts.
- [17:18]
Bert Dohmen
We definitely do. It's really a risk. It's really a risk because you have these companies that are doing AI for again 6 million rather than 100 million. But again, you just mentioned the debt. This is an article from the Wall street journal on February 3rd, Wall street frets over US debt plan. It's exactly what you're saying. You said 36 trillion. When you look at the numbers behind what they have to pay out in the future.
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Richard Duncan
Oh, right, right.
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Bert Dohmen
What is it, about 220 trillion.
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Richard Duncan
Yeah, yep, yep.
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Bert Dohmen
So one of the things.
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Richard Duncan
Yeah. It's called.
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Bert Dohmen
Yeah. There's no way, you know, the other thing, you know, Trump is very pro crypto. He says he's not going to do it but you know, he does change his mind with things. Could we see a central bank digital currency coming? What do you think?
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Richard Duncan
What Jim Records says is interesting because Jim Records was part of the long term capital failure and the Asian debt crisis. He says they bailed out Wall Street. Who's going to bail out the central banks next? So that's what Records is forecasting.
- [18:43]
Bert Dohmen
Yep.
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Richard Duncan
Anyway, it's really an interesting time. It's not a time to be complacent anyway.
- [18:48]
Bert Dohmen
No, no. You have to keep learning. And again you know, we look at things for the way they are, not the way we want them to be. But going back to the, you know, Trump is very big into the digital world. And of course, you know, a lot of the digital guys threw a lot of dough into there too.
- [19:05]
Richard Duncan
So he goes where the money is.
- [19:08]
Bert Dohmen
You follow the money.
- [19:10]
Richard Duncan
Yeah.
- [19:10]
Bert Dohmen
And as the old Bronx saying goes, money talks, bullshit walks, you know, so the could they. Let's go to China. Look what you just put your palm out, you're paying, nobody's using currency anymore. And, and I believe that they're going to come out with to build, to get rid of this debt level. They're going to say we're going away with that dirty cash and we're coming into digital trash. So we're going digital again. Goes back to AI. All things are connected. The younger world is all digitized. They'll be very happy with a digital coin. Yeah, everything is going to become digitized. Oh, remember when we were old? I know a lot of people don't remember this. There used to be things called musicians. Now everything's synthesized. It's a whole different world. The people are used to it. So I think a digital coin is going to come out and I think more and more central banks to beat their debt level, they're going to come out and create something new again. Look what Roosevelt did. Turn in your gold, turn in your gold. They'll do anything they want.
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Richard Duncan
Yeah. What Joel's talking about was back in 1933, President Roosevelt took all the gold away and then I think it was at 24 bucks or something. He brought it back at 35.
- [20:37]
Bert Dohmen
Yep.
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Richard Duncan
Fortune on it. But anyway, Geraldos talks about the banksters. And this is the thing that I was watching, gerald, was in 1971, Nixon took the dollar off the gold standard and the dollar became debt in 1971. And I've heard people call America, you know, they have Saudi Arabia exports oil, America exports debt. And I'm watching this debt grow all over the world and everybody's in debt. Credit card debt, mortgage debt, student loan debt. What does the trans forecast have to say about debt or any guys do anything on that one?
- [21:18]
Bert Dohmen
Oh, yeah. Well, again this week we're just writing about the consumer debt. You know, credit card debt's going way up and global debt again. And the debt is really an issue. And by the way, 1971, you know who the treasury secretary was? John Connolly.
- [21:36]
Richard Duncan
Yeah, he got shot.
- [21:38]
Bert Dohmen
I could send you after you get off the air. I'll show you a picture of me John Connally and his wife Nellie, 1992, in front of the Book Depository.
- [21:50]
Richard Duncan
Oh.
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Bert Dohmen
His first time back. Their first time back since the assassination. He wanted to meet me because one of my books, Trend Tracking Far Better than Mega Trends. This is two weeks before the 92 election. I had forecasted back in 89 that the public was looking for a new third party, someone like Ross Perot. Now, I'm only mentioning this because you mentioned about taking us off the gold standard. Connally was the Democratic governor of Texas back in the day. When he took the bullet in the back. As we're going back into the Anatol Hotel, he said to me, I read your book. He said, it's a fine piece of work and I know your heart's in the right place. He said, well, you don't have a clue what's going on. And neither do the American people, because if they did, there'd be a revolution in this country. This is the John Connolly that the Democrat governor took the bullet in the back. That was also the treasury secretary under Nixon that took us off the gold standard.
- [22:58]
Richard Duncan
Yeah.
- [23:00]
Bert Dohmen
So there's a lot going on behind the scenes that we don't know about.
- [23:04]
Richard Duncan
Right. You look at countries like Japan right now, they're in debt up to their eyeball. And what they started to do is, this is my concern. There was a thing called miti, Ministry of Finance. They advised the Japanese Central bank of Japan, and they printed trillions, trillions of yen, but they never devalued the yen, so they kept the yen strong and just printed trillions of it. And they were buying people like, you know, like Madison Square Garden, they were buying pebble beach and all this stuff. So those are those banksters you talk about, aren't you?
- [23:44]
Bert Dohmen
Yeah. Now, these are serious times, you know.
- [23:49]
Richard Duncan
Yeah.
- [23:50]
Bert Dohmen
I don't give finance, we don't give financial advice, but we're bullish on. We're bullish on. Bit on. On cryptos, particularly bitcoin. We've only began to become bullish back in 2017, and we're still very bullish on gold because it's a safe haven asset and there's a lot of concern going on. One of our top trends for 2024 was we said it would be a golden year for gold, and gold prices went up 25% last year. I didn't think gold prices would go up as high as they are right now. No, this is beyond. But the reason is there is a lot of concern going on, particularly in the investment group. They know that the Valuations of the stocks are quite high and this AI is very, very concerning to a lot of people that are looking at it very deeply. And I have to tell you, I'm surprised at the openness in a lot of the reporting going on in the mainstream media, giving the facts about the true dangers of it because usually they try to cover it up, not to freak people out, but they're putting a lot of facts down that are very important for people to understand that's going on with this AI world. And again, here's your cover. This is what we wrote, by the way, back in 1999.com overload will short circuit many high expectations for huge profits in Internet commerce, entertainment and the wide array of dot com services. Following the holiday season, many of today's high flying Internet stocks, the hottest IPOs and newly emerging IPO wannabes will have begun their deep descent from their overvalued heights. And that's exactly what we have now. Newly emerging IPO wannabes inventing stuff that's brand new that they don't know where it's going. And these venture capitalists and a lot of the others invested a lot of dough in this and they're going to lose it.
- [26:16]
Richard Duncan
Welcome back. Robert Kiyosaki Rich dad radio show. Today our guest is a longtime friend from Hawaii, Burke Dohmen. He still lives in Hawaii with homes all over the world. But also he's a publisher of this Wellington Letter which I subscribe to. And that's because he says he should read. But the question is, what do you read? And I love the Wellington Letter because it gets to the point, it's simple, it's good enough for me to understand. But he has a couple of statements in this month's Wellington Letter called the death cross and he talks about disaster stocks. So I'm going to ask Bert, what is the death cross and why should people pay attention to disaster stocks or what classifies them in your book? Because that's what you are the best at. For 50 years you've been giving this advice out, but the average person doesn't have your expertise to analyze a good stock or a bad stock. So what? First of all, Brett, what's a death cross?
- [27:12]
Jarrett Teach
It's a very simple way to measure the weakness or strength of the stock market. You take the 50 day moving average and the 200 day moving average. When they cross on the way down, that's a death cross. So that means that the, the bull market is over. When they cross back up again, then it means the bull market Is probably, in effect, it's very simplistic. Wall street likes to have terms like that. We make it a little bit more precise with our technical analysis. We use advanced technical analysis. And that includes volume, not just price.
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Richard Duncan
So when you see the death cross happening, what fires off in your brain, 50 years of experience, it means more to you than a guy like me.
- [28:04]
Jay Martin
Yeah.
- [28:05]
Jarrett Teach
Well, this time the death cross took place about what, three months after we gave our sell signal on the market. So you late by three months, it's a very late signal. By that time, your portfolio is way underwater. Right now, anybody who bought stocks after the election is underwater, probably underwater with the stocks that they bought. And it's human nature not to sell any stock that they hold at a loss, because as somebody on CNBC said, I think last week he said, if you don't sell a stock you have at a loss, you don't have a loss, which is ridiculous. Your loss is there whether you take it or. Or not. What I wrote in the Wellington letter not long ago is the first loss is your best loss. That's an old trader rule. If you're a professional trader, you say the first loss is the best one because from then on, the losses just get bigger and bigger, and you never want a small loss to turn into.
- [29:11]
Richard Duncan
A big one again. This is the Wellington letter. When Bert says you got to read. I'm saying, as a friend of Bert for years, this is the letter I read. If you just want to get to the point as fast as possible, because I don't have time to caruse all those magazines and things like that. So how do you rate a disaster stock? You have that little category, the disaster stocks.
- [29:36]
Jarrett Teach
You've seen many stocks, popular stocks, okay? Suddenly in the morning, you wake up, they open up 20 or 25% down from the close. The priority that, that locks in all the people who bought that stock, because now they're sitting there, the day before, they had a nice gain on the stock. Now they wake up and they have big loss in the stock, okay? That locks them in. So then these people become bag holders. They hold that stock, it's down 20%. Now, eventually it's down 30, down 40%, down 50%, down 80% down. They hold it all the way down because they're locked in with a loss. And they take that advice from tv. Don't sell. Sell a stock you have at a loss, because then it's not a loss. That's ridiculous.
- [30:26]
Richard Duncan
And you analyze it. The good thing about Bert is he analyzes the stock for you and he'll explain to you why it's a disaster stock. So I love about your, you're not just giving, do this, do that. You actually analyze why a stock is a disaster. So I'm doing my best. If you're going to read this is Wellington Letter here. Fabulous, fabulous information. This is my biggest question of all. Biggest, my concern. We have so many baby boomers with a 401k. They're now approaching retirement. And if they're in buy, hold and pray mythology, what would you say to them if they just, you know, they buy, hold and pray, they got 60, 40, 60% equity, 40% bonds, that's about all they know. What advice would you give them, Bert?
- [31:17]
Jarrett Teach
Of course, you know, I don't know what people have in their 401ks. In fact, you know, there was a time when I was asking everybody just out of curiosity, what do you have in your 401k? And I did not find one person out of maybe 100 people that I asked that knew what they had in their 401k. And I would even then ask, what is it? Stocks or something related to stocks or related to bonds. They didn't know. So this is how little attention people pay to their life's investments, their life savings. You cannot survive that way. So right now, if I had been asleep while the market tanked over the last three months, then I would sell everything. Everything. I wouldn't even pick and say, I'll hold this and I'll sell this. No, sell everything. Then you'll watch it from the sidelines. It's a lot cheaper to watch from the sidelines. And the commissions are basically zero nowadays. So it's not a matter of this, it's just a matter of handling.
- [32:30]
Richard Duncan
I need to add that we don't give financial advice here. That's Bert's advice, but I'm soliciting it from him because I think he and I share the same concern. There's a lot of people if this bear market continues, will get wiped out. And does that concern you too?
- [32:52]
Jarrett Teach
Is it very concerning? You know, but you know, people still have a chance now. They have losses, but they can keep it at that level by selling and then they will have some way to sleep at night. But if your portfolio sinks every day, and you know, I wrote that a few months ago, I said I've never seen such massive high volume selling in the market as we saw since the election. You know, it's incredible. And so that shows you that the big smart money was getting out and then they generate a small rally one day that was up 500 points and then everybody said, oh, bargain hunting time, you know, and you gotta buy the dips. You know, that's a favorite saying. No, don't buy the dips because you're going to be the diploma. This is not if you work in.
- [33:49]
Robert Kiyosaki
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- [34:41]
Richard Duncan
Call 1-800-granger.
- [34:42]
Robert Kiyosaki
Click granger.com or just stop by Granger.
- [34:45]
Richard Duncan
For the ones who get it done.
- [34:48]
Jarrett Teach
What you want to do, Any advice that you get from tv, you should do the opposite or consider doing the opposite.
- [35:01]
Richard Duncan
Hello, Hello, Hello. Robert Kiyosaki, this is the Rich Dad Radio show and we have probably, I would say, I'm guessing what all my experience, all the years I've been doing this program, the most important show of all. And our guest today is Jarrett Teach.
- [35:19]
Colonel McGregor
So let's talk about Southwest really quick because that's a really interesting story and how we work within the boardrooms with clients dollars to push back on these agendas. And so in 2022, Southwest Airlines had arguably the worst year for any American airlines in history. Their stock price down between 25, 40%, et cetera. During the holiday season of 2022, I got the last flight, three days delay from San Diego to Denver on Christmas Eve. A lot of folks didn't have the opportunity to make their flights. They spent the holidays or Christmas in an airport. Southwest canceled over 16,000 flights. They've been told for years you need to build out a better infrastructure from a tech standpoint. And they refuse to do so. But what is interesting is because they canceled 16,000 flights, their carbon emissions dropped and so their C suite executives and others received bonuses, large bonuses for hitting their ESG metric while the stock was floundering and shareholders were left holding the bag.
- [36:26]
Richard Duncan
They got a bonus for hitting esg, Environmental, Social Government. But capitalism took. Took the hit. They were not profitable.
- [36:36]
Colonel McGregor
Correct. You know, another story in that is Starbucks. So Starbucks, when they filed their annual report in 23, they use a chi. They use the name China approximately six times. But they want to, from my extent, build 9,000 stores like 2025 in China. Well, there's a lot of geopolitical risk. They are adversaries. And what's interesting is when Russia invaded Ukraine in early 2022, Starbucks shut down over 700 stores. So if China decides to bring a military into Taiwan, are you going to shut down 9,000 stores? And how's that going to affect the show? But they don't want to talk about that. Additionally, their CEO had a 10% kicker bonus to DEI metrics. And we had a conversation with them saying, hey, you saw what just happened in academia. Supreme Court just shut down affirmative action. This is coming to corporate America, so you better be ready because there's going to be some issues here. And they didn't particularly like us for that. And what ended up happening was they dropped that to 3% because they see the writing on the wall that there.
- [37:46]
Richard Duncan
Is a reversal here.
- [37:48]
Jarrett Teach
So.
- [37:48]
Richard Duncan
So you guys talk to Starbucks because they're hitting their dei, I call Die for Die metrics. But they were basically. I mean, what they're doing is horrible. I mean, to me, what happens. What happens to America is capitalism is leaving us. I mean, it left us to go to China. And when I see, you know, when I see buildings emptying out and all that, to me, that's capitalism leaving. It's the same thing that's going on today in Europe. I think Volkswagen is shutting down one or two or three of their factories. Capitalism's leaving. And it goes back to Claus Schwab and the Davos thing and all this. We've got to take care of the shareholder. So that's why with this book here, which I'll send you, is who Stole My Pension? I'm of that age group right now, is they can't afford to retire. You know what I mean? There's no money there for them. So basically, they just ripped off their pensions. And the American worker sits there with their little 401 saying, I'm protected.
- [38:58]
Colonel McGregor
Yeah. And that's a huge issue when you look at a lot of those pension plans, whether it's a county or state, you have wonderful folks that work at CalPERS as portfolio managers, analysts, et cetera. But they've Got to follow their investment policy statements, what they're told to do, where they can invest. And so when politicians have the ability to form those investment policy statements, listen, a politician sometimes probably can't spell esg, but by God, they know and give them a vote. Well, that's a problem. And so, and, and we're again the.
- [39:32]
Richard Duncan
Public'S left on the hook for.
- [39:34]
Colonel McGregor
So it's something that we are pushing back against. And the first thing that's interesting is we've educated a lot of folks and so we are seeing this kind of curtail. People are starting to rename ESG or dei. You know, Larry Fink was in the news earlier this year saying, I'm never going to use those phrasings again because it's become political. Like how'd that happen? So he wants to sit there and maybe we'll use, use conscientious capitalism. So you do play whack a mole. You're also hearing, hey, they're starting to wind down their votes on ESG and DEI in these boardrooms. That's simply not true. What's happening is if you already passed it and voted it through, it's not going to be on the ballot the next year. You're not going to vote for it again. So now the second stage. The first stage was to educate folks. The second stage, Robert, is incredibly important. It's going to take a while is to get people to go ahead and admit they're wrong, repeal these votes, put it back a shareholder proposal on these boards and vote it out. And that's going to take some doing.
- [40:39]
Robert Kiyosaki
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