IT BEGINS: Surviving The Next Greater Depression

The present state of our economy is disturbing. We take office in the wake of seven months of recession, three and one half years of slack, seven years of diminished economic growth, and nine years of falling farm income. Business bankruptcies have reached their highest level since the Great Depression. I regret to say that we're in the worst economic mess since the Great Depression. A few days ago, I was presented with a report I'd asked for a comprehensive audit, if you will, of our economic condition. You won't like it. I didn't like it. But we have to face the truth. The markets are starting to figure out we aren't headed into recession. We are facing the worst depression in our history from a mathematical standpoint. Today, I'm gonna bring you guys back into the past as we review recessionary videos from 1929, 1949, 1960, 1970, 1980, 1999, and 2008. And we're gonna listen to people like JFK, Ronald Reagan, and Warren Buffett's mentor, Benjamin Graham. Then after all of that, you guys, I'm gonna compare all of those recessions against today's absolute catastrophe by comparing the S&P 500 P.E. ratio, home P.E. ratio, government debt to GDP ratio, and then the most alarming data of all, nominal personal income. As we adjust that income to today's inflation, and here's the thing you're gonna learn. If we stopped inflation back in 1974, our individual personal income would be $246,688. The government has been lying and stealing from us for decades. We cannot get the truth from them. And because they also own the media, we cannot trust them either. In every single recession, there are many more losers than there are winners. And so today, the idea is this video is gonna create enough awareness for you guys to adjust your lifestyle so that you can become winners through the other end of this depression or even recession, if it's not already too late. Mitch Vestler, happy Friday evening. We've got a lot to cover today. How are you? Good, what we're about to discover, give or take, is worth about $20 trillion. It's absolutely mind blowing, you guys. It took me about six hours to prepare for this video. We're gonna jump into eight different videos very quickly. We're gonna get Mitch's testimony on those videos, what his insights are. Then we'll go into what happened in today's market. And then I'm gonna compare those four factors, and then have you guys decide, are we on the edge of the worst economic depression of our lifetime? That answer is mathematically, yes, we are. Let's start with 1929. That same winter, the richest country in the world began a bitter journey downhill. The stock market buckled and crashed, and the nation's economy plummeted into the depression. By 1932, nearly one man out of four was unemployed. Working men spent their days on park benches. The government set up public soup kitchens. New York, the richest city and the richest country in the world, found itself bankrupt, politically as well as economically. So we have the stock market collapse that apparently no one saw coming. We had multiple businesses go bankrupt, and we had 25% unemployment. Let's now listen to some video on the 1949-ish recession. And we're gonna listen to Benjamin Graham, and I want you guys to remember, that's Warren Buffett's mentor. 1929, which is so long ago, but 1950, which is only a few years ago. It would be very proper to ask, why are prices twice as much as they are now when the earnings of companies, both in 54 and probably in 1955, are less than they were in 1950? And that is an extraordinary difference. And the explanation cannot be found in any mathematics, but it has to be found in investor psychology. You can have an extraordinary difference in the price level, merely because not only speculators, but investors themselves are looking at the situation through rose-colored glasses rather than dark blue glasses. It may well be true that the underlying psychology of the American people has not changed so much, and that what the American people have been waiting for for many years has been an excuse for going back to the speculative attitudes, which used to characterize them from time to time. Now, if that is so, then the present situation can carry a very large degree of danger to people who are now becoming interested in common stocks for the first time. It would seem that if history counts for anything, that the stock market is much more likely than not to advance to a point of real danger. Like today, you have new people going into the stock market. The stock market is completely ungrounded from fundamentals. It's a lot of emotional, just emotions propping up those prices. So let's go now into talk about the 1959 recession, and let's listen to what JFK has to say. The present state of our economy is disturbing. We take office in the wake of seven months of recession, three and one half years of slack, seven years of diminished economic growth, and nine years of falling farm income. Business bankruptcies have reached their highest level since the Great Depression. Since 1951, farm income has been squeezed down by 25%. Save for a brief period in 1958, insured unemployment is at the highest peak in our history. Of some five and one half million Americans who are without jobs, more than 1 million have been searching for work for more than four months. And during each month, some 150,000 workers are exhausting their already meager jobless benefit rights. Nearly one eighth of those who are without jobs live almost without hope. In nearly 100 specially distressed and troubled areas. The rest include new school graduates, unable to use their talents, farmers forced to give up their part-time jobs which helped balance their family budget. Skilled and unskilled workers laid off in such important industries as metal, machinery, automobiles, and apparel. Our recovery from the 1958 recession moreover was anemic and incomplete. Our gross national product never regained its full potential. Unemployment never returned the normal level. You have no economic growth, you have unemployment going up and you have once again bankruptcy skyrocketing for businesses. Let's listen now to a little bit about what happened in the 1970s. When a circuit breaker or fuse blows in our home, it's not because there's no energy available. It's simply that we've called for more energy to be delivered to a given place than the line can take. And the whole system blows. The principle of the household fuse or circuit breaker, keeping supply and demand in near balance can be extended to all forms of energy. All in effect have circuit breakers. And when the demand grows greater than the immediate supply, the circuits break. Attention all passengers, line 307 is canceled for further notice. And when several circuits break at the same time, we have an energy crisis. We're in an energy crisis now and will be for some time to come. We have at present an absolute shortage of natural gas. We cannot produce as much as we can use as we are equipped to use in our homes and our factories. This situation is destined to continue indefinitely. And by indefinitely, I mean not only just the next few years, but as far ahead as we can see. They're talking a lot about supply and demand. Let's now go into the 1980s and listen to what Ronald Reagan has to say, especially about reckless government spending. Good evening. I'm speaking to you tonight to give you a report on the state of our nation's economy. I regret to say that we're in the worst economic mess since the Great Depression. A few days ago, I was presented with a report I'd asked for, a comprehensive audit, if you will, of our economic condition. You won't like it. I didn't like it. But we have to face the truth and then go to work to turn things around and make no mistake about it, we can turn them around. I'm not going to subject you to the jumble of charts, figures, and economic jargon of that audit, but rather we'll try to explain where we are, how we got there, and how we can get back. First, however, let me just give a few attention getters from the audience. The federal budget is out of control and we face runaway deficits of almost $80 billion for this budget year that ends September 30th. That deficit is larger than the entire federal budget in 1957. And so is the almost $80 billion we will pay in interest this year on the national debt. 20 years ago, in 1960, our federal government payroll was less than $13 billion. Today, it is 75 billion. During these 20 years, our population has only increased by 23.3%. The federal budget has gone up 528%. Now, we've just had two years of back-to-back double-digit inflation, 13.3% in 1979, 12.4% last year. The last time this happened was in World War I. In 1960, mortgage interest rates averaged about 6%. They're two and a half times as high now, 15.4%. The percentage of your earnings the federal government took in taxes in 1960 has almost doubled. And finally, there are 7 million Americans caught up in the personal indignity and human tragedy of unemployment. All right, guys, so now a little bit in the dot-com bubble in the year of 1999 into 2000. It's described as nothing short of breathtaking, a points drop never before seen on the US markets. This closing bell might as well have been an alarm, so savage was the selling. In percentage terms, it had less impact than the crash of 87, but it still left traders and investors shell-shocked. I saw it, didn't you? It was down some. Why? How come? I don't know. Ah, bad day. Bad day for you? Another one, yeah. I know. Too many in a row. The plunge was sparked by a jump in US inflation, the fear a bigger hike in interest rates the only remedy. It was enough to force the Dow Jones down 616 points, a drop of 5.5%. The fragile technology stocks even harder hit. The Nasdaq index in freefall down nearly 10%. It lost a quarter of its value in just one week. Once this body started in motion, it was very, very difficult to put the brakes on. And by one o'clock, everyone threw in the towel and said, this is a poor guy's conclusion. These things are going down. We'll wait till Monday to get back in the game. So you have inflation right there, and a big surprise that the suits and the whole educated economists were completely blindsided, which means they're completely useless. I'm starting to think economists are just cheerleaders. Let's now go into the global financial crisis of 2008. I think this is the most significant financial crisis in the post-war period. There are fears the sell-off will continue on Wall Street. Soaring gas prices, falling home prices, and rising unemployment. What kind of recipe is that? Overall, that's a recipe for recession. 2008 was a bad dream. It was a bloody year on Wall Street and a real capitulation for a system run amok. Nearly a quarter of a million homeowners are in danger of losing their homes. The bankers made irresponsible loans to homeowners, permitted them to buy property on margin. Then the housing prices collapsed, the mortgages couldn't be paid, and the banks essentially became insolvent. The collapse of Bear Stearns was catastrophic. It was a wake-up call to Wall Street. That was a real tell in the unfolding and the house of cards coming crumbling down. Fannie Mae and Freddie Mac are so large and so interwoven in our financial system that a failure of either of them would cause great turmoil in the financial markets. The seizure of Fannie Mae and Freddie Mac as home prices started to fall set off a chain of events that made housing effectively freeze. One last video I want you guys to listen to because it's nothing new that pensions have been highly levered into risky assets and have been at risk of declining 20, 30, 40%. Listen to this. If you're still young enough, there's time to rebuild and recover. But if you're in your 50s or 60s or beyond, the consequences can be dire. And it's drawing attention to the shortcomings of a retirement system that's jeopardized the financial security of tens of millions of people. So Mitch, that was a ton of videos, pretty long winded. But if you can, what video kind of hit the hardest as far as like what's going on today and why? First, something of great importance. Those who do not study their history are doomed to repeat it. It's the first thing. Second thing is President Trump will end up giving the exact same speech that Ronald Reagan gave in that video for the exact same reasons. The difference is that when Ronald Reagan gave that speech, the market was worth one and a half trillion, give or take. Right now today, the outstanding dollars are about 62 trillion. Out of that 62 trillion within the last five years, over 20 trillion, which is what I was referring to at the beginning when we started this video, over 20 trillion in value. We'll put value in quotations because it's not value, it's fraud. It is inflated dollars, it is printed dollars. 20 trillion in five years have gone into the system. That 20 trillion divided by the 62 trillion is a 30% drop. That is what you can expect at a minimum of what's coming out of this market because none of it was real to begin with and it all drops in the hands, most of it, of the Federal Reserve as the largest purveyor of fraud on the planet by virtue of the inflation. The inflation is a fraud, it's a hidden tax. And the central appraisal districts, which out of that dollar amount, give or take, five trillion is straight up fraud. That is what is happening for one simple reason. Out of all those videos that we just heard, do you realize that something was missing? The median household income. Had they looked through the lens of the median household income, we wouldn't be here having this discussion. You cannot and nobody can get blood out of a stone. The median household income isn't there. How is it that the fraud was perpetrated in the first place? The fraud is paper chasing paper. The money was never real, it was printed. I would say also, Mitch, that every single one of those videos going back to 1929 had some elements of what's going on in our very toxic economy right now. And speaking of what's going on in our economy right now, it's Friday, it's about market closing. Let's see what's going on in the market before we start comparing the recessions to today. Right now, you guys, the Dow absolutely plummeted 723 points, a little bit more than the dot-com bubble. S&P down 113 and NASDAQ down 480. And let me show you guys the year-to-date on each of these. So here's the year-to-date on the Dow. Dow's actually down 2.3%, over one month down 5.19%. S&P is down 5.13% year-to-date, kind of surprising to see that. One month they're down 6.29%. The NASDAQ took the biggest beating. The Dow took the least amount of beating, surprisingly, the year-to-date, okay, year-to-date here. Negative 10.3%, one month, just one month, you guys, down 8.09%. When we look at the VIX, the volatility index, look at this, this is up, the volatility index, saying, uh-oh, there's some problems in the economy. That's up 25% year-to-date. And over the last one month, 10.7%. But look at over the last five days. In five days, this has jumped up 12.71%. Before I ask Mitch, how do we protect ourselves through this insane market and make money, I want you guys to understand what's happening, first of all, with bankruptcies. Last year, we saw 694 companies file for bankruptcy, according to S&P Global. That's even higher than during the COVID pandemic, which was a tough time for businesses. The biggest casualties, Party City, like I talked about, and the China Construction, each carrying over a billion dollars in debt. But you'll recognize other names too, like Big Lots, Spirit Airlines, Red Lobster. What's really telling is where we're seeing these bankruptcies. Consumer, retail, and industrial companies, each made up 28% of all filings. And why is that? Well, interest rates staying high means their debt keeps getting more expensive and makes it more difficult for them to refi. And then consumers, of course, are watching their wallets closely. Over 100 of these bankrupt companies, I should say, were backed by private equity funds, with many in consumer discretionary and healthcare. And that's actually a new record, new record for PE-backed funds. And there's a reason. Private capital firms have been stepping in where traditional banks won't, taking on more distressed borrowers. Now they're facing the same harsh reality of high rates and tight consumer spending that's hitting everyone else. Mitch, I know you study the markets, stock markets, a lot more than I do. You have a lot more experience with trading and just how the markets, what it does, right? But what's going on in the market as of today, and how can someone make money, if at all? Protecting one's position is primary. So if you are in anything that is associated with a fee, such as a private equity entity or high fee ETFs, best not to be there. That's the reality. You know, we're not here to give economic advice and tell people to do this and do that, but you have to understand what those expenses are and who's really making the money. If you've got a high probability of downside where your principal is at risk, why are you exposed to those type of issues? So for those who are capable of trading or learning how to trade or interested in options, those are things that can be done, but it takes time to learn them. And you don't want to do that with large amounts of money. You want to experiment. And speaking from personal experience, I started years ago with a very small amount of money, and I just learned, and I said, I'm going to risk this money, but I traded extremely small. And over time, you get better and better, and that's the process. Probably the biggest thing to do, just assuming it's the average mom and pop, protect what you have, go to cash if that's necessary, and invest in your own skills. And as time progresses, you will see that those skills, regardless of what they are, right? It could be somebody who's into gardening, and you can expand that gardening experience. You can be growing things. You can do all sorts of things when you've got the skills. That's really first and foremost. But if you've got a high probability of downside risk on your principal, why are you exposed? Go to cash. It's very simple, but you have to pull the trigger. We're going to go into our final segment, and I'm going to compare multiple data sets, and I'm going to show you guys that what's happening right now compared to all the other recessions is showing mathematically, we are on the front door knocking on a new Great Depression. Take a look at some of this data, starting with the Shiller PE ratio for the S&P 500. So basically how overvalued is the S&P 500? Let's start all the way to the left of this data, okay? So going back to 1929, okay? You saw that bubble. You see this huge spike right here. The PE ratio was 31.48. 1949, it was 9.85. 1954, it was 15.99. 1959, it was 18.12. Then it starts going down for a period of time in 1970 to 15.87. 1974, another recession, 8.68. 1981, 7.39. Then it starts going up. 1990, we have 17.75. And then the great bubble, the great stock market bubble in 1999, it went all the way up to 43.21, and then a massive plunge in stocks. You guys can see that here. In 2008, it was 20.91. Now when we fast forward to today, the current information as of March 2025, we're sitting at 35.48, which is the second highest in history. This is just one data point, okay? So this one data point, second highest in history, more overvalued than the Great Depression back in 1929. You can see that right here. Next, the federal debt-to-GDP ratio, going all the way back to 1929, that was sitting at 16.34%. 1949 ballooned up to 93.15. 1954, 70.25. Obviously, there were wars going on, so it made more sense. Right now, we don't have that. 1959, it was at 54.47%. 1970, 34.67. 1974, 30.86. Stays the same all the way to 1981, sitting at 30.6. 1990 comes and it starts skyrocketing up to 52.75%. 1999, 59.19%. And then in 2008, it goes all the way to 63.85%. But here's the thing, you guys. The current federal debt-to-GDP ratio is 121.85%. That is the highest federal debt-to-GDP ratio on record. The reason it's that high is because they've been kicking the can down the road, trying to avoid a Great Depression. But all they've been doing is enacting Keynesian economics, kicking the can down the road, and making it to where we're gonna pay a very big price. The third set of data we're gonna look at is the home price to median household income ratio. A lot of people are comparing what happened right now to the 70s and 80s, and I keep telling them, you guys do not know what you're talking about because you're not looking at the everything bubble. And you'll see that as I'm going through the P.E. ratio for homes. Now, this is only going back to 1949. Now, the P.E. ratio was high in 1949, sitting at 6.28. And that means 6.28 years to pay off your house. That goes down in 1954 to 5.92. 1959, it goes to 5.02. Keeps going down into 1970. Look at how low, you guys. So again, people are comparing the 70s and 80s recession when we have some of the lowest, the lowest P.E. ratios for homes. The lowest, 1970 is 3.89. Congratulations, guys. 1974, it goes even lower. And these are recessions, by the way, to 3.67. 1981, it goes to 4.41. In 1990, it goes to 4.61. 1999, 4.12. And then the system started to figure out that they can squeeze blood out of these houses. And that goes to 6.81 in 2008. And right now, you guys, it skyrockets once again. As of December 2024, we have a 7.32 home price to median household income ratio. That is the absolute highest on record. The most shocking information of all, I'm gonna go into nominal. So I'm going to adjust this to inflation by using the inflation calculator that you guys see on your screen. This is through the Federal Reserve Bank of Minneapolis. You guys can go here. You can put the wages here. You can put the year, and you can compare it to 2024. And let me show you the disgusting results. This is only going back to 1974. So 1974, and real quick, this is median personal income. So I'm not doing real adjusted for inflation. I'm not doing household. I'm just doing the individual. So the individual in 1974 was making an average of $5,335. And everyone's like, oh, that's so low. But when we adjust to inflation, they were making $34,022. So right now it's saying we're making $42,220. That means we made less than $8,000 more in 50 freaking years. But it gets worse. It goes down. Look at 1981, another recession. Average income, $7,944. When we adjust for inflation, it's $27,473. Then 1990 comes, people are making $14,380. Adjusted for inflation, that's $34,607. What I want to point out, you guys, because of the inflation, it took 16 years for wages to go back to where they were in 1974. How disgusting is that? Now we go forward to 1999. Average income was $20,580. Adjusted for inflation, that's $38,849, about what we make today. 10 years later in 2008, people are making $26,500, but they're making this less, you guys, they're making less income adjusted for inflation at $38,703. Now I also put 2018 here. What we're making right now is comparable to 2018. So 2018, the median personal income was $33,710, but when we adjust that for inflation, look at this, it's $42,213. Right now we're at $42,220. That means we're making as much money as we made, you guys, in 2018. We are equal to 2018. Comment below if you guys feel like it's way more money to live right now as compared to 2018. What happened to our money? Now it's easy to show you guys, look on the bottom here, I took a note. If there was no inflation since 1974, so no Federal Reserve, no devaluing the dollar, our median personal income per person is $246,688. They robbed us, you guys, of over $200,000 in individual personal income. Mitch, based on the data, mathematically, can't we argue that we are on the front end of the worst depression in our country's history? Depends on how this plays out. In reality, if you look at the debt to GDP where we are today, roughly 129%, the target should be 50%. So the debt outstanding, US national debt not including unfunded liabilities, would have to get sliced from 38 trillion down to 19 trillion. Here's the big kicker. That would have to include all unfunded liabilities. And the way to look at it is anything that is paper, facing paper, would have to be wiped off the face of the earth. Debt for the sake of debt is nothing more than going to Vegas and having a good time at a roulette wheel. Do you get paid? Nobody knows. The reality is there's no assets backing it. Paper is not an asset. Bricks, sticks, precious metals, business that's got income, these are assets. Paper, mortgage-backed securities facing paper are not assets. You can't get to the asset. And those people say, well, I invested in this. Yeah, well, you had principle that you invested into something that got taken and levered up. The second it became levered up, you kissed your principle goodbye. That will be the reality. And it's unfortunate, but to think that you have a profit in something where it's paper chasing paper is delusional. There is no profit because the money wasn't real to begin with. This is printed money. This is trillions of dollars printed by the Federal Reserve that became inflation. So what we're really fighting is inflation, a tax, a hidden tax, a fraud on society as compared to what does it take to make a society run, which is blood, sweat, and tears, right? As mom and pop, it's the labor of mom and pop that takes a society to run. And as Travis just showed, that society has been equity-stripped. That is what we are fighting. And at the tail end, that will have to go away in order for society to reset and move forward. And a lot of people that participated in it, unfortunately, by the laws of the United States, they belong in jail. Does it do any good to put all those people in jail? No, but that is where we are. They did this. They stripped the equity. They've been told they're committing crimes. They chose to do nothing about it, which is a violation of federal law, as well as certain states' penal codes. So everybody that's out there, it doesn't matter who you are. If you've got real estate, this is what's happening to you. That's why we've been pounding the table on this. The situation doesn't get any better. It gets worse when you understand what's going on, which is exactly why President Trump, at some point, will be delivering the exact same speech that Ronald Reagan gave. You know, I'm not gonna bet against you on that. Now, I wanna ask you again how we can hedge ourselves against this everything bubble, and maybe that's just personal advancement, personal comprehension, being part of your community, uplifting your community, fighting property taxes. And I really want you to emphasize how important it is to get it, if you wanna get ahead of this and you wanna conquer all of this greed, corruption, and fraud, a lot of that starts with property tax. But before I do, I wanna show you something, Mitch, that I'm worried about that's just propaganda. Look at this. This is from the White House. This is from President Donald Trump, January 20th, delivering emergency price relief for American families and defeating the cost of living crisis. Now, I like that headline. I think that's great, right? I think Joe Biden said something similar and look at what happened. So I am worried that that's propaganda because there's no math. I just want, I want them to stop talking. We've listened to about 100 years of BS nonsense, the same thing over and over again. Where is the math? And now I'm gonna go to you, Mitch, because you're the math expert. It's an everything bubble. It's very toxic. We've been teaching the audience about apathy, about fraud. We showed them P ratio on just about all of the important assets. If you're gonna play in those assets, be prepared to lose it all. Mitch, thinking deeply here, I mean, how does the average mom and pop that is probably overextended, probably in debt, how do they hedge themselves through this very toxic bubble? It's extremely difficult if you're already in this problem and have no way out. We are getting emails by the day with a lot of people facing foreclosure. There's been thousands of people that have already lost their homes due to this. There will be thousands more. They didn't have the ability, the understanding to even begin to fight. And that goes to the issue of apathy. You don't know what you don't know until it hits you in the head. And for a lot of people, it's hitting them in the head. And the problem here, just like you just saw with that White House address, is the debt. And I'm thrilled that Doge is doing what it is they're doing to knock down the principal amounts. But until you get into the debt, the debt is worth trillions. That's where this fight has got to go. It's not just enough to say, well, we're gonna get rid of the fraud, which is the principal level. Well, all that money that's been stripped from those mom and pops out there, the thousands that have lost their homes, where are they gonna go to get the value back of what they lost? Where are they gonna go to get their lives back? That's a direct result of the debt. The debt is a good thing if you know how to handle it. But the problem is most people, including the economists that think they know what they're doing, are complete morons. They do not know how to handle that debt. They're not taught how to do it. It's not necessarily their fault. But the fact of the matter is they're not taught how to handle debt. Debt only works if you can know how to pay it off, you have the income to pay it off, you've got the fortitude to see what it is that you're doing. And people say, well, I can live in a house for $800 if I get 2%. That's still not handling debt. That's abusing debt. The question is, what did you do in the what-if scenario to hedge yourself against the possibility of a spouse losing a job? So there's all sorts of gotchas when you take on debt. And unfortunately, all these economists that work for the government, they shouldn't have jobs. That's the reality. They're complete idiots. And we've proven it time and time again. We put together a document that we handed to the DOJ, yet nobody, nobody can say that there's anything wrong with that in that document. If there isn't anything wrong in that document, then why are we still having this discussion? Why isn't somebody getting off their butt and going to work and say, we've got a serious problem? By the time they get off their butt, that problem is gonna go exponential. And every day that goes by, this gets worse and worse. That is the reality. So to Travis's point, how does mom and pop hedge themselves? A, learn what is happening. Be able to articulate it. B, in the case of the real estate, be able to get those comparisons and handle yourself in front of an ARB. Do the best you can without spending any money on attorneys. C, we are working on something which is kind of a discord type program to be able to funnel people into different silos. One of those silos would be pending foreclosure to try and help those people out. And we're working as fast as we can to get this done, but we're getting emails every 15 to 20 minutes, pretty well around the clock. And not too many of them are good. Quite a few say, thank you very much for doing what you're doing, et cetera. But the vast majority are people in trouble. So we see it, we hear it. The government is completely blind and or completely stupid, your choice, but that is what's happening. And it's the debt. All I can do is say, when you look at things through the lens, just like all those videos that you saw at the beginning of this video, when you look at it through the lens of what did those people do to understand the median household income and that the debt load shouldn't be greater than what those houses can afford? What did they do? And the answer is nothing. And that is exactly why we are here today. Well said. And I'm gonna give you guys some final words here. First of all, go to the video's description. We have numerous videos, pre-material to help you guys fight because we do need your help. We're in this together. Now, based on what we just went over, I wanna reiterate to you guys what the government has done, okay? They have taken individually from us $200,000 in wages and replaced it with a society that glorifies. And the other thing I wanna say is this. It's not Republicans versus Democrats. It's not rich versus poor. It's none of that, you guys. It's mom and pop versus everyone else. And here's the thing, you guys. I'm on team mom and pop. That's who I care about. So never forget that. All of this stuff in the description below. Mitch Vexler, happy Friday. Thank you for your time. We hope you have a great weekend. Don't spend your money. Re-budget it. Maybe cancel some subscriptions. Don't go out to eat. Make a picnic. Go outside. Hang out with your children and love your life. And other than that, if you guys are out there investing in real estate, your life, the economy, you guys already know we wish you luck and we hope you win.