00:00What do you think about this new bill that's going to basically eliminate no capital gains tax on home sales to be able to free up the money people who've owned a house for a long time can't afford to pay the capital gains?
00:13Yeah, well, we're looking at that and it's going to be, it could be a very big positive. I don't think for you because you make so much money. It doesn't matter. But I think, I think it's going to be a great, you know, a great incentive for a lot of people that, that really need money.
00:27So between that and Jerome Powell stepping down, that could really boost home sales.
00:32Well, I think if Jerome Powell stepped down, it would be a great thing. I don't know that he's going to, but he should. Jerome Powell has been very bad for our country. We should have the lowest interest rate on earth. And we don't. He just refuses to do it. And yet he's spending two and a half billion dollars rebuilding the Fed, the Federal Reserve building.
00:53And I don't know what he knows about building, but you talk about cost overrun. So he got this approved and he started the work during the Biden administration and he doesn't look like the kind of a guy, frankly, that wants to spend two and a half billion dollars.
01:08And it's very interesting because out of 71 economists, one person, me, and then one other person, I think from Wharton, got it right.
01:19And the others were all wrong in terms of the success of our country this quickly.
01:24We have no inflation. We have cash pouring in. It was me and somebody else.
01:30And I can tell you, I don't need 5,000 people working for me behind the scenes like Jerome Powell to tell him what he should say once a month because they got it wrong.
01:40The Fed got it wrong. I call him too late. He's always too late.
01:44Every point costs us $360 billion. Think of that. And we should be three points. That's almost a trillion dollars.
01:53Approximately a trillion dollars less. We should be just with the signing of a piece of paper.
01:58So we'll see what happens. I mean, you're telling me he's going to quit. I hope he quits.
02:03I don't know that he's going to quit, but he should quit because he's been very bad for the country.
