- 7 hours ago
Gary Meyers is joined by Paul Valente Jr., Don Day, Carlos Legaspy, and economist Robert Genetski. The panel discusses cybersecurity, the weather outlook, financial markets, investment in AI, the economy, and the Question of the Week.
DISCLAIMER: All opinions expressed by the presenters in this video are solely their opinions and do not reflect the opinions of The Meyers Report, its directors or officers.
DISCLAIMER: All opinions expressed by the presenters in this video are solely their opinions and do not reflect the opinions of The Meyers Report, its directors or officers.
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NewsTranscript
00:07welcome to the mars report fast 15 it is friday october 23rd 2026 we are less now than less than
00:16two weeks away from the election that's going to be quite uh quite an interesting event today we
00:23will have don day with us who will divine the weather without use of a rod carlos legaspi will
00:30explain why there was a sell-off yesterday and bob janetsky will give us his weekly summary on
00:37the economy but first we have paul valenti jr with news about a series of cyber attacks in the u
00:45.s
00:45yesterday for those who don't know paul is second generation a contributor to the myers report
00:52uh his father paul senior has been with us for decades i am sure we'll see more of paul
00:58uh paul we heard rumors of cyber attacks in the u.s uh how true is it and how bad
01:08was it in terms of
01:09disruptions well i i don't see a whole lot of uh news about it circulating except for just one uh
01:18php
01:19bug which affects 80 percent of the web but what's a php bug uh sorry it's a um it's a
01:26library that's
01:26used to run most uh uh common websites but um it wasn't so much that one bug that was found
01:34it was
01:35the severity of them and the number of them there's been 27 major cyber security incidents
01:41uh not in a month or week but 48 hours um is that an unusual number that's very unusual um
01:49these are
01:50not uh small flaws these are these are almost 10 out of 10 critical flaws that allows people to get
01:57remote um root access to the server that the site is hosted on without even having to log in
02:05how would most of us have seen how would this have shown up for most of us
02:12well a lot of services had to be completely disabled because um for example in
02:20uh bank of america they've seen lots of third-party ai agents uh accessing customer accounts and
02:31authenticating with them using information that the a has ai has found on the dark web um and it's
02:39getting to the point where they can't really tell who's the actual human customer and who's the ai agent
02:45so they've kind of moved everything to read only so that you can at least read uh your banking
02:54information when you log in but you cannot change things and um that's that's what that's what i've
03:02seen going on they can't really tell who's the ai agent and who's the actual human customer
03:06so we know we know that the federal government disabled uh zoom programs on government computers
03:13yesterday and apparently it's still in effect today uh what is your advice to consumers in terms of
03:20their online banking and such that's a that's a good question um
03:29i my advice um obviously is to use two-factor authentication but the problem with that is
03:36if you're trying to if you don't already have two-factor authentication set up now trying to set
03:42it up right now in the midst of the chaos may be uh may not be a good idea um
03:50a lot of the um
03:53so you're suggesting are you suggesting that people if need be go into their banks and do it in person
03:59for the time being yes uh that's the advice i would give out and that's the advice i've been
04:04seeing for at least a day or two until the smoke settles okay should we expect more of this
04:11i think so yeah i think this is just the tip of the iceberg thank you very much paul don
04:18day
04:19is winter coming and if so how soon well we're going to enjoy for a lot of the country still
04:26some
04:27nice october weather it's really been a nice fall really for the most part um but once we turn
04:33once we turn the corner into november things are gonna start to get a little bit more like winter
04:39there's something going on in the high latitudes in the stratosphere which is signaling a change
04:45especially in about two weeks uh to where temperatures are going to be getting much colder
04:51so expect we'll we'll roll through most of the rest of this month with good weather generally speaking
04:56and then do expect some winter especially in the upper midwest and the northeast and the great lakes
05:01once we get into november uh there was a drought in the southwest that and so the southwest needed
05:09rain and now they've got to getting flooded uh do they ever get an easy flow of rain no no
05:16rain never
05:16falls in the southwest united states gently uh it always comes in torrents but the last two months
05:23september and october have tremendously helped states like arizona new mexico parts of colorado and
05:30utah and california got some really good precipitation uh over the last several days so you know places
05:36like lake powell lake mead uh big water concerns have they're still big water concerns and there
05:43always will be but they've seen some real benefits yes there's been some flooding and some damage but
05:49that's how the rain falls in that part of the world what's causing this anything in particular
05:54well we can we can blame a little bit of el nino for this uh the strengthening el nino in
05:58the pacific
05:58does tend to increase the rain opportunities in the southwestern united states and that's exactly what
06:04we're seeing okay carlos lagaspi it's good to see you gary usual you're always by the way carlos
06:13is a former rugby player and he is following some of the world's best teams in person over the next
06:23few weeks you're going to be seeing uh the u.s against what australia australia tomorrow and
06:28nashville yeah and then you're going to spain and you're going to be seeing i'll be seeing uh south
06:35africa versus france in paris next month so in paris yeah sounds like the mobs are as rough as a
06:44rugby
06:44game carlos there was a sell-off in the market yesterday what happened why so it's it's uh it i
06:55think it's a tempest and a teapot the suddenly after the earnings of meta which they came out pretty good
07:03but they um you know the amount of money that they're investing in capex um suddenly everybody
07:12said oh my god they have to invest so much money with a new muse and all of their ai
07:18it's saying oh
07:19my god will there be enough return on investment of all this infrastructure that's being built for ai
07:27and suddenly like woke up everybody woke up and said well market's been going up and up and up and
07:33and it's um are these companies over invested that's the fear that that that came in and so we
07:41started seeing a significant pullback on especially on semiconductors because i've been with chips and
07:47all that are they going to continue buying chips in the same pace and so all the semiconductor companies
07:53went down and ai company related uh companies went down it's for me that's an excuse for profit
08:01taking given there's been a really strong year it's still technically within its range the market
08:08been range bound since um beginning of last month and so we know if i see it further sell off
08:16below
08:16this level then i could start worried because it's it's a breakdown of the lower band of the range
08:22but right now still it's still i believe it's a it's a sideways market between all the end of the
08:27year with an with a positive bias from here now the sell-off there was a one second i have
08:35a question
08:37carlos if uh companies are investing in themselves how in the long term that's got to be a good thing
08:44because the biggest problems companies run into it is when they don't well the problem is that when
08:49they over invest the fear is that they are over investing and they will never earn back the amount
08:57that they invested so that's that's that's the fear and and it's always been like that with um with
09:05emerging technologies that have happened in dot com boom it's it's interesting all of that fiber optic
09:12that was laid down um for a while it was just laid unused eventually became used and then they needed
09:19to invest more you know it ended up being a lot under investment in the long end in the short
09:24term
09:24they poured you know worldcom and a lot of these companies that over invested and borrowed unborrowed
09:30money they didn't have the return to service their debt and that's the fear i'm not saying that's
09:35going to want to happen but that's what's going on through the market and then everybody ran into
09:40treasuries a safety trade and that explains the rally and the bonds and the lowering of the yield
09:45to under five percent on the 10 year it was more the equity market was the primary driver of the
09:53bond
09:54rally and now the other way around do you think any of the uh pullback yesterday might have been
09:59related to uncertainty about the midterms the market right now is pretty much uh already discounted
10:10that uh at least the house will flip and and given that it doesn't really matter if it's for for
10:19the
10:19market whether it's one or two out the chambers that flip once you lose one then you can't do
10:27reconciliation it becomes you know divided government and and and gridlock and that's what the market's
10:34preparing for and so the surprise would be if it doesn't happen that that's what's not in the
10:40market but if right now saying one or two is the same so it's kind of they're already looking past
10:46they're looking into 2027 dr bob ganetsky how do you see uh the impacts of the uh russia ukraine war
10:57and the iran war well i think we've had uh what hopefully is a major breakthrough with
11:04zelinski um saying that he's would love to see peace and um a peace agreement with the current
11:13holdings of the military in place with so he's conceding maybe about a good portion of the ukraine
11:21and i think that's uh that's would also be attractive to the russians it's not attractive
11:27to putin but a number of the people in russia who are supporters of putin have started to make
11:34statements that suggest that they're kind of fed up with where the war is going and they would like
11:39to see an end so i think we have moved over uh closer to a potential agreement hopefully before year
11:46and and that would be a major positive on the world stage how's the economy reacting
11:53the economy continues to react very well i you know my economic report for this week i put out that
12:01we're going to see some business surveys from s&p that came out this morning i thought they were
12:07going to be strong given my bias that the economy is doing very well and those surveys exceeded what i
12:15had expected uh just very strong uh readings above 50 me are very positive 55 is a good healthy
12:24economy the readings came in at like 57 58 uh businesses are doing very well at least according
12:32to those surveys and we get more information um next week we we get the fed reporting and we also
12:40get
12:40some information on uh third quarter gdp the latest estimate from the federal reserve bank of atlanta
12:50is that we've had a very strong quarter that we're just finishing up on and it's up real growth of
12:56three and a half percent that would be very good uh my forecast all along has been four percent but
13:02we'll find out what it is at the end of next week by the way it's interesting president trump has
13:08pointed out that people's 401ks since he's been back in office have virtually doubled from where i
13:15could see he's probably he's it looks like he's right which obviously is a good thing for most people
13:23since most people in this country in fact do own stocks uh so where do you see things going in
13:30the
13:30future between now and the end of the year going for the economy and and the stock market yeah i
13:37think
13:37the economy is going to continue to perform very well and uh we'll probably have another boost if
13:44the war with iran comes to an end and that's also uh looking very very good from the standpoint that
13:52iran for all the threats they're making have not been able to accomplish a great deal but the most
13:57important thing is they're not getting any money anymore or very little of it is coming in and that
14:03with a country with 90 million people there's going to be a lot of agitation with all the suffering that
14:10they've been doing and they're i think going to be pressured to come to some sort of a reasonable
14:15agreement with the united states but that remains to be seen i expect that before the end of the year
14:21too i'm looking just for a lot of good things to happen okay do you uh do you agree with
14:27carlos that
14:28uh the democrats are going to recapture the house uh i i think there's a good chance that the elections
14:35are not going to go the republicans way okay let's see what happens very encouraging uh information
14:43coming in on early voting but uh i think that there is an awful lot of hurt and financial pain
14:51out there
14:52as a result of the higher oil prices the higher gas prices and also a lot of discouraging people don't
15:00like the war they don't like the idea that we're there bombing people other people and having some of
15:06our service members suffer now many of us believe that the war is justified that it's certainly something
15:12not but the feeling out there is americans have never been encouraged over wars and chaos and we have
15:20some of that in the middle east no i there's no question that that's having an impact but you know
15:26this has been going on since 1979 and i as i've said before uh what about nuclear weapons long-range
15:35missiles and death to america is unclear it had to be done okay our question for the week guys
15:43is is the uh the latest reports on dna are raising questions about ilhan omar's marriage she said
15:52regarding whether or not she married her brother not that i know of do you think she married her
15:58brother and does it matter uh paul valente jr do you care no not necessarily okay there's yeah
16:08uh carlos did she marry her brother one of the things i don't care
16:17bob janetsky now the only reason it would care is because it reflects a culture that is so different
16:24from the one that we are so used to and so much believe in that uh it puts her so
16:31far away from our
16:32our own culture uh that it's something that we should be concerned about don day um i'm less
16:41concerned about her marriage to her brother as reports that she used a false name so uh that's
16:48that's fraud so well i'm in my own opinion is i don't care if anybody wants to marry their brother
16:57or their sister obviously there are some issues about that but the real issue for me and i'm with
17:03with don is that her whole makeup her name her apparent entry into this country all of it seems to
17:10be based on fraud and then you combine that with the investigations of fraud in minnesota it's just a
17:20stinking picture this is only part of the pill picture be that as it may we will know what's
17:27going to happen in the next two weeks and on that i want to say thank you to everybody be
17:32well stay safe
17:33have a good weekend and god bless america
17:50you