Thursday 6pm hour 06/11/26

Tyler Reddick here from 2311 racing. Another checkered flag for the books. Time to celebrate with Chumba. Jump in at chumbacasino.com. Let's Chumba. No purchase necessary. VTW Group. Boyd were prohibited by law. CTNCs, 21 Plus. Sponsored by Chumba Casino. Moto Casino. American Social Casino Welcome to Modo Casino where the excitement never ends with thousands of the hottest free-to-play social casino games, fastest payouts, and the best promotions in the industry. No tricks or gimmicks. Owned and operated in the USA. Motocasinos are free-to-play social casino. No purchase necessary 21 plus to play void were prohibited. Sign up today for a generous welcome bonus. Lingo Kids. What? Moana and Elsa and Marvel Spider-Man, all of them. On Lingo Kids? Yes, Dad, on Lingo Kids. That's pretty cool. I know. You just lost them for the rest of the afternoon. Worth it. Full of fun activities inspired by Disney's Moana, Frozen, Zootopia, Marvel Spider-Man, and more. Lingo Kids is where little ones discover more about favorite characters. Lingo Kids! Everything kids love. Download it for free. Trade screen time for race time at Virginia International Raceway. August 21st through 23rd, Insa's Michelin GT Challenge brings some of the coolest cars to VIR for an unforgettable family weekend. Explore, meet drivers, see race cars up close, and experience the thrill of racing from every corner of the track. It's more than a race. It's a memory waiting to be made. Kids 12 and under get in free. Get your tickets at VIRFam.com. That's VIRFAM.com. Well, it's Thursday edition, 606 of Money Talks with John Arnold on News Radio 570 to KVN. We bring John on board, and there is plenty to talk about tonight, John, to say the least, big, big day on the market, big up day on the market. First, let's get some analysis of the market, the economy, and the Trump effect and everything else. I don't know if we have enough time to cover all of that. Yeah, it starts with volatility as we've talked about. I know that if I'm sick of talking about it, I know you and the audience are second talking about it. So I don't know what I'll say other than the truth. Trump and volatility equal each other. And I never seen anything like it, which is something he always says ironically. But I've really not seen a president talk and like literally make two sentences and literally change the direction of the market within the day or the week. And he does that. I don't know that's somewhat Donald Trump and social media, because it didn't really exist in the Reagan years and the Clinton years, but I do know he does it. And with the social media, it will change direction on the market within milliseconds. And it's both bad and good. It's good for guys like me. I love me. You know, if you can catch me and you. It, you know, in the 830, 870 area, and it goes up to 990 in two days. That's good for me. But if you're somebody that's like on the Rock Part team, you're trying to manage wealth for people retiring, that's really fearful and disheartening. So it really drives the average investor crazy. Probably the average investment advisor crazy because they're just trying to make sense of it. For guys like me that are managing training stuff all day and within the market, it's great.

You know, some pretty pointed things if you do your research. Like, it was pretty easy for somebody who knows how to manage money to make some money on those pullbacks. Again, what I feel bad is for the people who don't know how to manage money or the average investment person that looks at their 401k a couple times a month, which is all they should. And they say, holy, you know, holy crap, you know, 5% loss in a week. And it's a drastic over the cliff drop. So, you know, again, good for hedge fund traders and money managers, terrible for people that are normal and that are not doing that. But one thing you've got to say, though, even if you saw just the normal investor, if you saw things go down or the market go down, the upside is pretty huge as well. So a lot of times all that down is erased on a good day like today, perhaps. No, yeah. I mean, no, no, listen, I'm going to tell you, I'm behind on some of my position. Not a lot, but I know I didn't get full-blown profit on some things that I was in, but it drastically changed today. Let's just say that. The overall portfolio, I'd be honest with you, I thought it was going to be the end of the month type situation. I really did. But, you know, it's coming out tonight, right? The IPO. Yes, you're talking SpaceX IPO. What are your thoughts? Yeah. My thoughts are that you've got to be really careful here because maybe they overpriced it. You know, tomorrow is a big day because usually after you have a 900 point or 650 point, and I'm kind of exaggerating, I think it was 640 IPO. That's probably going to be a profit-taking day tomorrow. So you probably should, again, should be the key word. You should have somewhat of a profit-taking day. So the IPO to come out tomorrow like it's going to on a profit-taking day could hurt it. And I'm talking in could, and I keep emphasizing that. But they're saying it's going to come out. And I haven't got the check because I was preparing for the show. $125 a share. The tickers, S-P-C-X. They're looking to raise $75 billion, the largest in history. And here's the killer. This is the thing that a human brain, including mine, can't wrap around. Well, and they're probably going to have a valuation, excuse me. They're going to have a valuation. $1.8 trillion, the T word, trillion. So if you can wrap your head around an IP of IPL that's going to create a company that's a valuation of $1.8 trillion, I don't know what to say. It's just, I think it's just mind-blowing. I never thought I'd see that in my lifetime. And, I mean, that one stock could have an effect on the market tomorrow, just that one stock alone, could it not? A monumental effect? I'm assuming that's going to be the NASDAQ. I don't think they applied for the Dow Jay Jones. I don't know if it's going to – I don't know the exchange is going to hit, obviously. But, yes, I do believe that – I do believe they could sway the market a little bit depending on how it comes out. Like, again, if it comes out at 135 and they think the market thinks it's worth 100. and there's a minus 35% on the share price tomorrow. Again, just a complete hypothetical scenario. That could rock the market. You could say, hey, you know, wait a minute, that this thing is not as great. Everybody says, you know, the stakes not work to sizzle. So tomorrow is going to be a record-changing day tomorrow either way on the stock market as far as IPOs go.

And I'm behind. I'm an Elon Musk fan. I think you are too. And there's plenty of people that are that way that are probably interested in getting in long term, maybe. Absolutely. Again, if you're a long-term, if you're a long-term holder and you can get it on the secondary market after it comes off the IPO and you think it's a value price with target price, you live with it. That's it. But if you're trying to day trade, you know, SpaceX tomorrow after it comes off the IPO, I think you're a fool. So we'll see what happens. It isn't going to – I look at my reason. It's trading on the NASDAQ tomorrow. So – We're going to see. Tomorrow's going to be a crazy day. Crazy, crazy day. So there's many variables tomorrow with this market that went up high today. If there's profit taking, you're saying, and this SpaceX IPO, going to be a unique day to a certain extent. It is. Again, I mean, for a NASDAQ, they go up 640 and the Dow Jay Jones will go up 900 and something. typically after those days, you get profit-taking days. It's easy money for people that are training. So they could artificially bring that down just because the overall market could be down. I have zero factual basis on what I'm saying. And this is truly a guess like anybody has. So I just want to make that clear. Right. I didn't know if you wanted to – I forgot to ask you about your opening statement that you usually like to read before we get started. Yeah. Go ahead. I just say, you know, the money talk show is strictly from investment advice purposes. Excuse me, it's educational strictly no investment advice. Please consult your own tax advisor and or investment professional before making any investment decisions. All markets carry the risk of loss of principle. So when you take a look at if Trump does this ceasefire, he says an agreement is basically a done deal, they just got to sign off on it. If that stuff doesn't materialize, as we've seen in the past, I mean, that can have a negative effect on the market. If it doesn't materialize, we could see oil prices go back up. We could see the stock market go back down. That's how volatile this situation is. Agree? Yeah, I think any time I got talks, this is old hat, but tariff, inflation, interest rates, space, Iran war, whatever he says, there's a magnet to the market on it, and he can flow it either way. But I think that tomorrow, I don't see the market going down crazy. I think you have two pieces of great news coming. I think that they're probably going to come to some kind of artificial handshake tomorrow with Iran or tonight, and I think that... You know, SpaceX is probably going to be a positive thing tomorrow. I really do. All right. So let me tell you something that, you know, relates to the firm that bought me. So me, you know, read every money to kind of do our thing on the investments. We consult with each other to help the clients at Rockport. And two weeks, you know, we put together some stuff that's going to capture SpaceX. So really proud of that. So if the folks are listening that are with Rockport,

I would say contact Joe and Adam and talk about some of the news we made. I think I'll be very happy. All right. Glad to hear that. So let's talk a little bit about your hedge fund. John Arnold has started this hedge fund, 100 investors, still some slots open. Once it reaches 100, it's closed off. So if you're interested in investing in June, you wouldn't be end of the fund until July, correct? July 1st. That's correct. Okay, if I have it accurate. So if you're interested in getting into the hedge fund that is managed by John Arnold and a couple of other folks, we'll get into them momentarily. If you're interested in getting into that, we'll let you know how to do that phone number-wise and website-wise momentarily. So stand by for that. I want to talk to you about your hedge fund and what you were saying about the VIX last week and versus what happens. Yeah, and again, I'm not trying to say I have a crystal ball or am I predicting the market. I'm just saying last week on our show, I said I was pretty worried because of VIX was in that 14 to 16 range. I want to say 15 to 16. And the last time it was in a 15 range, it really spiked up to the 20s. And then sure enough, what followed was the market, took a really big. kicking the ass. And this exact same pattern happened right after the show. So that VIX went down to the 15-16 work, and sure enough, well, listen, they're interchangeably. What I'm saying is they work in and hand. So market goes down, Vicks goes down, Vicks goes down, market goes down. So they kind of beat off each other. So the reason for me telling you that is, It was kind of cool to see that it reacted like I thought would happen because there really wasn't bad news up until that point, but that VIX had been trending down, which means there was too much calm. And too much calm usually equals something around the corner to spike it a little bit. And that's, and it needs to say the thing, and something you probably need to talk about that should have drove people crazy. And I mean crazy is what caused the first volatility movement was the fact that the jobs report came out too good. That is mind-blowing to me. I still can't be in 50 and being through various markets, bearing bull. I can't wrap my head around that good news is bad news. And when I say bad news, I mean minus thousand points on the Dow Jay Jones bad news. Because of a good jobs report? Yes, that's the underlying great thing about the American economy is our people have jobs and our socialists jobs, they're true jobs. And that brought the market down. And now I'm talking like 200 points. I'm talking to 1,000 points. Explain that. That doesn't make a lick of sense to me. But that's been going on, man. That's been going on. We talk about, and Andrew Smith used to talk about this with me, the crack in the market is interest rates. And corporate America is addicted to low interest rates.

Good Jaws reports means that the Fed doesn't have a reason to decrease interest rates, which means corporate America can't get on the government free tit anymore. That's what that means. That is flat out, bottom line, talk, what that means. That means no freebies on the interest rates. Corporate America has to pay a little bit like we do for financing projects and different things and services. That's exactly what that means. So good Jaws report now equals that interest rate. which, in my opinion, is good interest rate. No interest rate move with good interest rate, because any time you're playing around with something artificial in our economy, you win the battle and you lose the war. So I'm just calling it like I see it. It's bonkers to me. I think it was used for big money to have an excuse to run the market down. but at the end of the day, it did go down based on that. And then the follow-up was, you know, I ran in the United States, you know, and Israel will open out each other again, and there clearly is not a ceasefire. I don't know. For me, it's like when you say there's a ceasefire and you're still bombing each other, that to me is not a ceasefire. I don't know. I don't know. It's like it's like almost we speak different languages now after COVID. It's unbelievable to me. Yeah, yeah. A ceasefire doesn't mean you keep on firing. I always took it literally. But apparently it's different is what you're saying. There's so many like men are women anymore. Cops are bad criminals are good. I feel like to live in bizarro world. Jobs report equals bad. Great jobs report equals bad, bad market. I live in, I live in backwards world. What effect, if any, does this new Fed chairman going to have? I mean, is that, and what are your thoughts about it? Well, from a great standpoint, he's good for me. He's good for corporate America. You know, corporate America getting, okay, let me back up why I'm saying this. I think, you know, he is, without saying wink wink, is going to do what Trump pleases, okay? I think the reason why Jerome Powell and Trump didn't get along, so Jerome Powell was basically his own man, which you've got to give a lot of credit for. In addition to that, I think he swung a little bit left, and I think he probably did things in spite of Trump. It seemed to me, and I would want to ask you this, it seemed to me he navigated the economy pretty good during some difficult times. Yes. I mean, I can't look at him and say, boy, this is the guy did a lousy job. We had some difficult times when he was running a Fed, and it seemed like we didn't have any major disruptions with him at the helm. Would you agree? I couldn't agree more. I couldn't agree more. I'm a guy I calls it like I see it. With or against them, I agree with that sentiment. So totally, it's a math thing. And the math says he eased into it to where people forget, like, how bad 2022 was. And that's because they had raised interest rates too fast, right?

So he gradually brought him down to what I think is an equilibrium, which is fair. Hey, I think six and a quarter, six and a half percent for a mortgage loan is fair. I know everybody wants three, four, that's what I got. Hell, if I could refinance my building it for right now, I do it today. But my point is, but six percent is fair, which is what I'm paying. You get what I'm saying? Yes. So I think that he eased it to where he didn't create more superinflation. In the long run, I think he probably helped Trump. But I think Trump is in a situation. He's trying to spend himself out of inflation. And maybe that will work. Maybe it won't. One of the things that I know that they're doing behind the scenes in the long run, that that's what Ed Scraught, remember the guy that I had on the show called me Ed Scrodd. Gave and gave and those guys, they think that Trump might be right here because with AI taken over, this is the chess move, I think that they're playing J.JD Vance and the Trump Party. I think that with AI kind of taking a lot of jobs. that's going to affect the inflation, right? Because now John's reporter, that should, keyword should, start to come down, which would give reason for decreasing interest rates in the future. We think that as the chess game as money managers, as fund managers. Can't prove it, but really on the cover of the magazine, what they're doing doesn't make sense. If they want to decrease interest rates, it typically, and Andrew would verify this, that typically is going to cause more inflation. So the decrease interest rates usually, now I think that the counterbalance, like I said, is with AI coming into existence and really starting to take white-collar jobs and great-collar jobs, I think it's a counterbalance with the interest rate decrease. I think that's how they're going to pull it off. That's a complete theory. I have no data to support debt. Wouldn't that be interesting? I mean, there was talk where, when you're looking at the odds, they were saying there's a 40% chance of an interest rate increase, a 40% chance of that happening. Listen, I would be the guy that would say, don't touch it at all, you know, keep it where it is or lower it, but certainly a 40% increase would, I think, be troubling to the economy. Yeah. That would be catastrophic. I would guess that that equals a minus 3,000 on the Dow Jay Jones, maybe a minus 1,500 on the NASDAQ. I think that's... I think that is devastating for the market if they do that. Over all these years, John Arnold's our guest, Money Talks, News Radio 570WQM. Over all these years, in the many, many years that you've dealt with the stock market, what you're seeing right now, just this volatility and Joe uses a word parabolic, you know, stocks are parabolic in many cases. What is your, I mean, is...

How do I phrase this? Is it a bothersome time? When you look at it, how do you assess this? I mean, it's good, I guess, for the hedge fund, but it's weird, is what I'm trying to say. Well, what's weird is we're running in, we're going, like I said this 10 years on, 10 years ago on the show we were doing together Monday, is we're going into the, to a new paradigm of economy, and now it's here. And that paradigm is we're shifting from human to computer and robots. Right. No, no, no, bear with me for one minute because I want you to finish a thought coming up here because we ended a program and had some calls on it the next day. When you, when I believe you said, and correct me if I'm wrong, AI. really either scares you or bothers you, or you weren't keen on it. Do you remember ending the program with that once? It scares a manure out of me. It scares them a newer out of me. And can you elaborate, you ended a program once, and you said that. The following day had a couple of calls on that because we ran out of time. Would you be willing to talk a little bit more about that tonight? I would love to. I would love to. All right. Start, and then when we get to our headlines. Well, I tell you what, just pause, and then we'll cover that after the headlines. All right. I want John to address that, and folks, they'll see you that call me the next day and saying, well, what did he mean by that? Well, I guess you'll find out coming up. This is Money Talks with John Arnold. We'll tell you about his hedge fund coming up. We'll have him address AI. We'll tell you about his hedge fund. It's what John is doing right now. Tell you about the criteria. Tell you about how many people can get into it. Tell you everything about the hedge fund coming up, including how you can be a participant in it. meet the criteria. That's all coming up in the second half of the program here on News Radio 570 WKVN. This is Money Talks with John Arnold's. We have paused for the headlines. That's coming up next and then we'll come back with segment number two. John Arnold, Money Talks. It's Thursdays at 6 here on News Radio 570 WKVN. On a beautiful Thursday evening, it's 81 degrees. John answers the AI question, talks about the hedge funds and more coming up on segment two. What's up, fools? Main of it Jay Uso here from the WWE. When it's just me between matches, it's day one-ish. And that means it's Chumba Time. With hundreds of casino-style games and new titles arriving weekly, there's always something fresh to try at Chumba Casino. The daily boots make it even more fun. And have me, about to get them, all during my downtime. Ready for a fun way to chill out and enjoy a few minutes for yourself. Let's Chamba! No purchase necessary. VGW Group, voidware prohibited by law, CTs and Cs, 21 Plus, sponsored by Chumba Casino. Moro Casino.

America's social casino. Welcome to Moto Casino where the excitement never ends. With thousands of the hottest free-to-play social casino games, fastest payouts, and the best promotions in the industry. No tricks or gimmicks. Owned and operated in the USA. Moto Casino is a free-to-play social casino. No purchase necessary. 21 plus to play. Void with prohibited. Sign up today for a generous welcome bonus. Dad, Disney activities are on Lingo Kids. What? Moana and Elsa and Marvel Spider-Man, all of them. On Lingo Kids? Yes, Dad, on Lingo Kids. That's pretty cool. I know. You just lost them for the rest of the afternoon. Worth it. Full of fun activities inspired by Disney's Moana, Frozen, Zootopia, Marvel Spider-Man, and more. Lingo Kids is where little ones discover more about favorite characters. Lingo Kids! Everything Kids Love. Download it for free. Entertain clients, reward employees, or enjoy a first-class race weekend with VIR's premium MSA hospitality experiences. August 21st through 23rd, enjoy exclusive viewing areas, premium amenities, food and beverage options, and access that puts you close to the action. Whether for business or pleasure, elevate your weekend at Virginia International Raceway. Explore and upgrade your tickets at VIRVIP.net. All right, from News Radio 570, W. Kim me in. Segment 2 with John Arnold's on Money Talks Thursdays at 6. We'll get into the hedge fund coming up in a bit. Explain what you meant when you ended that program with that cliffhanger. I'm going to say a couple weeks ago what you said negatively about AI. Yeah, I learned from the best on the cliffhanger. Hey, here's the thing, man, AI scare means high in 2026, and it's fueled by layoffs. Some executive warnings, which I'm going to talk about that, tech adoption, which I'm going to talk about here in a second. But you've got a perfect storm coming here, and here's what scares me. Let me tell you what scares me. Because I live through this a little bit already, but everybody was wrong on the outcome. And I think it's not the case here. I lived with the dot-com bubble. I started my investment career in 2000, right? Right before the start of the second worst bear market ever, which is crazy. You talk about bad timing. But during that crisis, I remember before the crisis, like, everybody's winning on these dot-com stocks. And where I'm going with it is, like, all of a sudden, you went from making 8% on a mutual fund now to 5.75. You went from making two, a rip, a big rip, which is a huge commission on stock, to now TD Ameritrade and stock trade and e-trade and all those guys, which got sucked up, by the way. But back then, there was a dot-com bubble. There was a day trading slash stock trading custodian popping up online to where now all of a sudden you need a stockbroker. So our...

Our industry, the investment industry, freaked out all of a sudden. What are we going to do? You know, everybody's going to leave us. We don't need us anymore, et cetera. And all the big names, Merrill Lynch, UBS, everybody that was anybody back there and had that scare. And guess what happened? The truth is nothing changed. It just actually started to create more investors as is what happened. And they figured, and then the investors started to do it on their own. made money in the good markets like everybody does, and completely lost their shirt, and I mean everything, in 2001, 2002. So all of a sudden, people were attracted back to stockbrokers, investment guys like me. So... There wasn't a dead end. It actually helped us and scaled us to a different level. I still hate it. I wish things are old, but I'm old and cantanker's old-fashioned. I still read the Wall Street Journal paper version on that guy. Okay, fast forward. This is what scares me. AI is the stop sign. It is the end. It's genuinely, genuinely replacing us. It is better, it functions better than any human being you can imagine. It's like a billion times faster thinking than a human brain. It's very cost-efficient. Companies are in, capitalism is defeating capitalism. We're saying bring on AI because we're inventors. We're commerce, right? And here's the thing that's killing us. Like I talked to you about a couple weeks from the program. I went to Congress. talk with Bill Johnson, talking about the dinner, me and Chuck George, a bunch of people. And he said, just because we can do it, doesn't mean we should do it. And what he meant by that is, we should probably stop this crazy technology that's going to take over our commerce and our economy before it's too late, because once it's too late, the cat's out of the bag, it's over. It's over. We're going to socialism. So he was right, but here's the problem. The big, the companies, the countries that we compete with, Russia, China, India, which is the second largest population in the world, some other things, they're on our tails. They might even be better at AI. And if we don't compete with them, if we don't meet to their standard of AI, we're going to be left behind, and they're going to get us anyway. So we're kind of stuck in this trap. And I see the only way out of it, and Elon Musk has even talked about it, is guaranteed income, which I'm 100% against. Because once you get guaranteed income, you've taken entrepreneurialism, and you've killed it. You've taken artistic ability and creative ability, and you've killed it. You've halted everything that makes our nation great. You go to New York City, like I went here with the kids about four months ago. You see the greatness that was built from people, came over here the right way with a nickel and a loaf of bread, and how Jewish people went from going from horrible things that happened to them over and journey, coming here and creating a great business. There's so many great things that happen from creativity that are going to come to a screeching halt. So what really bothers me is the companies have announced approximately 87 and 97,000 percent, thousand, excuse me, not percent, thousand job cuts to AI in the first months of 2006. I want you to think about it. 90,000 jobs in the first five months of 2006 have been cut due to AI.

Tech alone has 120,000, 150,000 layoffs here to date. Just tech. Meta, Amazon, Cisco, Intuit, Block, et cetera. Those guys, that's what scares me. That's the future of America. And no one's doing a damn thing to stop it because of greed. And that's what scares me. There is no, well, the AI is going to fail us, and then we're going to want human beings again. No, the AI is only going to get better. We're just, we're in the infestages of this thing, man. Infant stages. And when Elon Musk says, you better stop it in his tracks or it's going to destroy us, guess what? I'm taking Elon Musk for 1,000. Every single time. Every time I'm voting on that guy. And that's what scares me. And I hope I'm not overselling it, but. Show me that I'm wrong. Seriously, I want somebody to argue me with objective fact that I'm wrong. Well, first of all, those numbers that you just gave, those aren't projections. Those are numbers that have already happened, is what you're saying, in the beginnings of 2026 here, in the early stages of AI. Did I get that correct? Yep. I mean, those numbers, I mean, I'm sitting back listening to those numbers. They're significant. 90,000, 120,000. That's a lot of people that lost a lot of jobs. And in most of those cases, I'm going to speculate pretty decent paying jobs. Pretty decent. What do you think Matt is paying? What do you think Apple and Google are paying? Okay, good paying jobs. And just bear with me one step further. And it's going to be difficult for those people to be able to rebound in something close to what they add. Would you agree with that? Yes. And so then... I'm living... Go ahead. I'm currently, and this is, listen, Rich Ferenczek said something to me the other day, which is true. Here's the answer, I didn't, I didn't, I didn't answer his question. He said, John, you have this big check and create a nice wealth for yourself. Why don't you just sit down and enjoy your money? Why don't you just enjoy your life? You know what the answer is? Because I don't think that's a lot of money anymore. I don't think my kids are going to have a job, and I don't think you're going to have a home. I think you're going to have 10% of this nation that, is in the high net worth, like Europe, that owns the voting and really controls the country, and the rest of us are going to be on socialism. I don't want my kids on socialism. That's why I'm trying to go to that next level with a hedge fund. That's why I'm still working hard. And that's the answer. I didn't get the answer to that. I'm living with scares me is what I'm talking about it. Normally, people that got what I got a couple years ago, which I'm very fortunate would just say, my God, I hit the lottery. You know, I live heavily, you know, live it up. Well, let's be realistic. Built through years and years and years of hard work. Let's be realistic. Yes. All right. No, no, no. I earned every dollar. Right. I'm just saying I don't have acquit in me because I'm scared of AI. That's the truth. I am scared of what we're going in this country.

That is 100% the accurate truth. I hate using that. Because I hate the word, I hate the word scared. I hate it. All right, but when you were talking about what troubles you about AI. It almost sounded like it's going to suck capitalism away to a large extent. You were talking about people would come here, and you still see it today, not just back then, you still see it today, that people who do come here, whether legally or illegally, many of them come here, they start a business. You know, they might become house painters or they might open a Chinese restaurant, and they work from morning till night, and they become very successful because they have a work ethic. It's still happening today. here in this country. And you're saying, if I got you correctly, a lot of that will evaporate because of AI. Absolutely. How many, honestly, how many of us can... do landscaping, how many else can be plumbers, lectures, and listen, I can't even change them oil right. Right. There's guys like me that you want to know about finance and medicine, I'm your guy. But wait a second. It still takes people to, if you have people that can't afford to say, I want to redo my bathroom. because they don't have the money because they don't have a job. Now that guy who thinks he's got job security being a plumber doesn't have job security anymore. You've said over the years, we're talking with John Arnold, we're a consumer-driven economy. Well, it's a circle. If you don't have consumers that have disposable income to hire the plumber or electrician, you make do with what you have, right? Yes, that's why China has never called our debt because of our tax system, we have the best commerce in the entire world. They're counting on us to buy their junk. And guess what happens when we can't buy their junk anymore? All hell breaks loose. So there's a deeper, there's deeper thinking here, there's a bigger chess move here. And what sucks about our society is men aren't men anymore. They've lost their fight. Men are not fighting for their families. But you can't fight technology. Can you? I mean, where do you go? I think you can if you had enough of us. AI is out there. I thought you gave a great analysis. You're competing against China and any of these other countries. What do you do to prevent what is going to happen based on what you're saying? How do you stop that? I can right now tell you what I would do. I would dedicate every ounce of our budget toward AI to war and to self-defense and some maybe higher-end technology for computers with summit conductors or whatever, but I would not.

let any further implementation of technology like that flow into our trades. I would never, when I say trades, I mean all trades, I mean computers, secretarial accounting. Let me tell you something. AI is going to put the average financial guy out of business. It's going to put. accounting out of business is going to put lawyers out of business who don't have creative specialty specialty law if you can go to AI and do an estate plan for 300 bucks and for with AI you're not going to pay so $2,500,000 unless you're small town America it just doesn't work like that that stuff is coming to an end we need to halt that right now We need to say enough is enough. But guess what? When I'm talking about, man, I'm saying, men, we don't have that fight. We're more worried about the Dan Browns game and going out to BW3s for a couple beers and Johnny's soccer game. None of that's going to matter. And this comes to an end. I'm talking real talk here. I'm not a good guy. I'm not a conspiracy theory, Scott. All right. And you're talking in a relatively short period of time, correct? Yes. Yes. I mean, because you're saying, listen, I'm online right now. I don't know who these, the surveys show that 40 to 52% of all global U.S. workers fear AI job loss nearly double from 2020 foreign polls. So just in two years, one and a half years, actually, 50% of the global, not just U.S. global workers fear AI replacement. I want you to think about that. The BCG estimates 50 to 55% of the U.S. draws will be augmented or reshaped by AI in the next two to three years. That's 2021. I want you to them, but that's when Trump's term is up. That's how fast things are changing. Listen to the number that you just gave, though. That's a huge number. Yep. Not everybody can be a nurse. Not everybody can lend the lawns. Not everybody can fix light sockets. Right. There's a half of us that need. a technical job that requires us to not have to compete the AI. I'm telling you, my man, this is a real deal. When Rich said, why are you not enjoying your money? This is why I'm not enjoying my money. I'll work over something deeper. I see it is on the wall. I am not worried about the Dan Buckeyes game anymore or the Browns. You know what I'm worried about my kids surviving. And you're worried about. Not being a government puppet. And just if it goes to, if it goes the direction that it's heading right now, then you're saying to me, John Arnold here tonight, money talks, you're saying if AI continues to go in a direction, it's going, significant job loss, how will these people make a living, how will they pay their bills? Then you start talking about people on the dole or basic income because the jobs are evaporated. Is that accurate? It's going to be a necessity. You're going to, you're right in front of your very eyes, everybody. They introduced this damn digital coin. Do you think that was by coincidence?

If you were to introduce a digital coin when computers first came out in 1995 where they were actually relevant, people would have laughed at you. They'd be like, yeah, yeah. What's it worth? Nothing. It's just a scam. Now people are like, well, maybe we'll use this Bitcoin to pay our taxes. It's insanity, but what they don't really understand is that is a feeder system for socialism. Algorithms are a feeder for socialism. When you displace cash for bits or whatever they're going to give you, and they give you a condo in public transportation, and they control your health care and your gas like they did in Canada, guys, pay attention here. When they're in COVID, when the truckers refuse to bow down for the COVID shot, they shut their gas off. They shut their paychecks off. You don't think that this is common with AI and socialism and I'm not a nutcase. I'm not a conspiracy nutcase. It's right in front of your eyes. That's what's going on with the globalization of our world. And no one's doing a damn thing about it. I want. Wow. I mean, it's just unreal that that's where it's heading. And when you're talking this way, for those folks who are listening, because I got a lot of feedback on that at that one time, I just want to emphasize, you're not talking in 10 years. You're talking next year. I'm talking now. No, no, no, no. I'm talking now. Right. Talking now. As we speak, it's happening.

And, you know, you're talking. Listen to what Elon Musk is saying. Yeah, and here's what I'm thinking. as you're talking. You know, like take Social Security. It takes existing workers that are paying into the system to keep it going and keep it afloat. You follow me? I mean, you understand. Exactly. Yes. Now you've eliminated a lot of those workers that don't exist that aren't paying in. How does that system stay afloat? How does Medicare for our elderly stay afloat if it's paid for by taxes of existing workers? The money I paid into Social Security went out to people that were retired at that time. Well, if there aren't people, if I don't turn around and look behind me and there aren't enough workers there, what happens to the entire system? You said it. You said it. That's why, like. I grew up under our union, so my dad's job was protected by UAW. The unions do some negative, yes, they do, but they're good, out ways or bad. So why I'm telling you this, if I was a union guy, I was ahead of the union, I would be all over this. Who's going to employ us when the jobs are gone? Who's going to employ us? Are there electricians, other plumbers? Maybe, but there's only some money of you to go around. Like the happy days are coming to an end. If you get an abundance of people all in the trades, guess what happens to the money that they make? I mean, supply and demands. They can't realize each other. Right. Exactly right. And if there's not enough customers to purchase those services that have decent jobs, that says everything you need to know. I mean, really, this is really eye-opening. With all due respect, it's something I have to address on a regular program as well. Because, I mean, the numbers that you gave just tonight, did I hear my 90,000 jobs here, 120,000 in this sector? I mean, roughly 200,000 jobs in that ballpark, gone? Hey, 120,000, 250,000, year to date. Gone. We're only halfway through the year. Meta, Amazon, Cisco, and Tuit Block. That came from liberal CNBC. Mm-hmm. Okay? So that's not like it's, that's not like scary town U.S. And I'm giving you literally trading economics.com stuff. I'm not giving you BS data. So when Elon Musk was early on, you were right there beside him saying, listen to him. He's basically saying, we can't, we better think this through because it can be both a bad thing as far as government control, government surveillance. And what are we going to do with all these people? I'll do you one better, Ron, because I always give you the hardcore truth, even if it makes me look foolish. I really didn't even know about a, I just knew like, oh, this is the future. This is like four years ago. This is the future, you know, what's coming, maybe robots were replaced us, maybe when I'm dead, and hopefully my kids will figure it out.

Elon Musk came up on an interview, and he started talking about them. And I really started, because, again, I'm an Elon Musk guy. And we started to pay attention to what this guy was saying, when he's saying, I'm literally scary. He's saying, I'm scared. I'm watching him to come out and out of. We have to stop this thing in its tracks. It's probably the smartest human being that I've ever known of saying this. Who has nothing to gain by saying it. As a matter of fact, he has things to lose. Half his stuff is from AI and robotic technology. He's the guy that shouldn't be saying that stuff. He's saying it. And it really woke me up, and I started doing my research, and as I'm researching, as I'm watching it, I'm really watching every month more and more, more jobs get lost, more jobs get lost. And this AI thing, what's happening is what really woke me up when GROK made a better GROK on its own. without Google telling it to do. So that's the AI version of ChatPT for Google. Google has its own AI search engine, and it thinks 100 times faster than you do as a human. So when it's self-creating a better version of itself, what does that tell you? That's... That is unbelievably scary. Again, I hate using that word. And that's the stuff that keeps me up at night. What are we doing to stop this in its tracks? Because no one has the balls or the brains, I think, to do it. And it has to come from our politicians. R-I-D, I don't care. You got to stop this thing in its tracks before it ruins the American economy. Do you see any signs of that even happening? Just the opposite. Yeah. I think that people are kicking it down the road and find a better creative ways to make money off it right now and create businesses off it. There's actually their school. Like literally, you can go to a curriculum at a school and learn how to be an AI, scientists of some kind and have them all seven or eight and work against each other to give you the best project. But at the end of the day, they're eventually going to be so good that they replace the person in putting the data. And that's the scary part. We're talking with John Arnold. Money Talks. Before I run out of time, talk about the hedge fund, please. So people understand it who are hearing it at first time. John Arnold has his own hedge funds. His own hedge fund, it can take max out at 100 participants in his own hedge funds and pick it up from there. Well, right now I got, I think I have like two or three more subscriptions to fulfill. I can get back to taking subscribers now. I had to slow it down. I used to have a big staff. It's just me and another person taking in all these applications. And so I'm going to get back to it. So if you're interested, you know, if you have, if you're an accredited investor and you can afford to put money into my hedge fund, you will be a full not to. It's that good.

The accreditation is a million dollars in assets outside your residence, or $200,000 you're in income, or you and your wife jointly $300,000 total, or the ability to put $200,000 in it wants. If you have $200,000 and it's money that you can risk, and you believe in my skills, but money, my hedge fund because the subscriptions are running out, and that's that. It's, we're beating the market already. I have history of being the market with our managers. And here's the thing. People who keep saying, well, it's a ton of risk. It's not a ton of risk. It's risk if you don't believe in the stock market and you don't believe in the manager. There are hedge funds out there to do private equity. There are funds out there to do extreme risk. I'm just doing what I always used to do, except I'm managing it on daily basis. I'm using the same exact things I used to do, except I'm managing it throughout the day, taking the gains when I can, putting stop when I need to. And I'm just moving on. I'm just. constantly managing it. And it's kicking out great returns right now. So that's it. All right. Now, with that in mind, of course, you have assistance. You have some help in addition to you. Just talk briefly about the three other people that are involved. One guy's your compliance guy. The other two guys also assist with the selection of the investments. Yes. Gave is my operations guy who's on vacation this week. Um, Edward Scrod, who's the, uh, he's a, he's a CTO chief technology officer. He's the guy that's doing the website and the technology operations and there's the superstar. He's the guy helping me, manage the money with Steve and Steve is like, He's the kind of guy you see on a TV show, but he's the real thing. He's way smarter than me, and he's better at it than what I do, and I'm pretty good. So it's that team, and they're doing great for us. And you guys work jointly on it. And if you're interested in the hedge fund, as you said, if you have 100,000 or 200,000 that you can put in, and or you, you know, you have, meet the other criteria. There's a criteria to get into that. Well, it's one of. It's one of. One of three. You don't have to know what it's one of, yep. All right. So one of the three. If you're interested in exploring that more, this is John Arnold's hedge funds that he has started. It officially started June 1st. If you're interested in getting into it, you have to get in an open period during June for the start of you'd be in it in July. In other words, it always starts on the first of the month. People are already in it, they're in it. Right. Yeah. Yeah. And when each month comes to an end, like when we get everything at the end of June and the...

auditors go over it all, you can say, here's what we did and here's what our returns were so people can hear it firsthand where you've gone with your hedge fund managed on an hourly and daily basis on buying and selling, those of you that are familiar with hedge funds, John Arnold's hedge fund. Now, how do people, and go slow for us, get information about this or contact you about this? It can call us at 330-288-7709, or you can email me at J-O-N-P-Rnold at theinvestment.coach. Again, J-O-N-P period-Arnold at theinvestment.com. Phone number 330-288-7709. All right, so that's the website. That's the phone number to give John a call if you would like to. Well, that's the email, yeah. Email, excuse me, and the phone number to get a hold of John to get involved in his hedge fund. Once there's 100 people in it, then it is closed down at that point. You cannot take any more than 100 people in. the hedge fund. John, I appreciate your time as always. First, I appreciate your insight in what's going on economically and what's going on in the market. These are very interesting times as far as anyone knows. So we look forward to talking to you again about that. I appreciate the great insight on AI. I've got to talk about that more on my program and what you had to say there. And of course, You know, the hedge fund speaks for itself, and the returns will speak for themselves on what you do there. One more time on a phone number before I got a scoot? Sure. 330, 288-7709, no pressure. Give us a call. Thank you, John. Appreciate it. There he is. John Arnold's Money Talks Thursdays, News Radio 570WKVN. What a great insight on AI. And I'm telling me, that hedge fund is very interesting. Give him a call. Hey guys, it's Ryan. I want to tell you about my new pastime, Chumba Casino. Chumba Casino has been around for over a decade delivering the most fun you can have online. Play social casino style games for free anytime, anywhere. So sign up at chumbacino.com. No purchase necessary. PGW. Boy, prohibited by law. See terms and conditions. 21 plus. Here's golf legend John Daly. Hell yeah, these wins are piling up faster than my divorces. I only spent on Moto, America's Social Casino. You know I've won a couple of majors. And on Moto, I've won majors, grands, and epic jackpots on their classic Vegas slots with huge, huge bonus rounds. Moto Casino adds new games and awards players, free coins every single day. Grip it and spend it on Moto Casino. Download the Moto Casino app today. MotoCasino is the social casino board where prohibited and purchase necessary visit moto.com.

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ABC News. I'm Michelle Franzen. A potential deal to end the war with Iran taking shape. President Trump says there's a conceptual agreement and it could be signed as soon as this weekend. ABC's Louis Martinez says it comes after President Trump vowed to carry out new strikes against Iranian targets tonight. now called off. When you have the president again saying that there would be more strikes today and then he cancels them, then yes, you have to see this as a de-escalation because this was something that was in the U.S. was in control, not Iran. Previously, the United States had been responding to Iranian attacks, and then it went back and forth, back and forth on the same day. But what you saw yesterday was the United States really launching the offensive here to try to get Iran towards the negotiating table for an agreement. On the heels of an inflation report showing consumer prices surged 4% last month compared to a year ago, highs not seen in three years due to the Iran war. The producer price index today showing it jumped 6.5% in May from the previous year. The numbers suggest that inflationary pressures faced by consumers are beginning to percolate up through the supply chain. Analysts say that, as with the consumer price index, surging fuel and food prices are behind the increase in the PPI. ABC's Jim Ryan has Matt teams at the Pentagon today earlier after sensors triggered an air quality incident in sections of the high security facility. Some workers told to shelter in place, tests, though, showed it was a false alarm. Mexico beat South America today in the first match of the FIFA World Cup. Next. match, Los Angeles, tomorrow night. ABC's Christiane Cordero is there. LA's a host city. It's hosting tomorrow, but the crowds are out today in large part to support Team Mexico. We know there's a huge Mexican-American population here in L.A. But tomorrow, all eyes will turn to the match between the U.S. and Team Paraguay, as they kick things off here in the U.S. at what is expected to be an exciting tournament from beginning to end. You're listening to ABC News.

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