 Well, that's a beautiful, creepy Joe on the road. He is trying to find anyone, I mean, anyone who will listen to him, blather on about bidenomics. Yeah, because someone told him, oh, look what you can do. You can change the negative of bidenomics into a positive of bidenomics, just like Donald Trump did, right, with the whole FJB thing and all that. Well, no, with the deplorables, the deplorables, that's a good example of that. I guess like, it's not working. No, no. We're going to be creepy like him, it's not working. Come on, man. Come on, man. Yeah, right? Biden tried to explain bidenomics in a speech in New Mexico last night and, well, here are the, I guess you'd call them highlights. Look, the Financial Times and the Wall Street Journal have started to call my plan bidenomics. Initially, I don't think they meant it with great deal of respect. With all due respect for them, our plan is working. It's working. A thousand dollars a year. Your federal taxes aren't going to go up a single penny. Guess what? I did all this without raising anybody's taxes in the middle class and one of those things. During this process, I cut the federal budget in two years by $1.7 trillion. The problem was, too many people are working, or working people are working, they get too much money. That's not the problem. People sometimes say, why are you doing that? Imagine if a long time Roosevelt and telephones came along and said, we're not going to help invest in the telephones. Come on, man. I don't know what I was thinking. Come on, man. I mean, what is it? We know this is a happy hour for some of you and I'm drinking water, but how many lies was that, Jason? I don't know, but if we were drinking alcohol every time he took a drink. We'd sound like Nancy Pelosi. I mean, every time he lied, we'd sound like Nancy Pelosi. Put a pump. That was good. That was perfect. That's amazing. Come on, but his last quote was so visionary. Imagine if a long time Roosevelt and telephones came along and he said, we're not going to help invest in tele... Come on, man. What is he even talking about? What is he whispering about and creeping us all out for? I don't know. Well... Do Democrats like that? Because I remember Joy Behar on the view. Wasn't she saying she thinks he's hot when he starts with that debilitated scream that he does when he starts yelling at people for... Yeah, yeah. No, she did. So she was saying that there was reports out that Joe is very mean to the staff and he would yell at them. Right. You know, I think it's kind of hot when men are out there, you know, being tough like that. Let me say one thing. There is not one thing hot about Joe Biden. Not one thing, not in any... Hot head? Honestly, he was never... By the way, we're chicks and we know hot guys and I can tell you, Joe Biden isn't, wasn't, never will be, never has been a lick of hot. There you have it. Yeah. Just want to clarify that for you. Just want to clarify that in case any of you... Yeah, Joy, just so you know. He's not hot. Okay? That's all. And, you know, so he's on this friggin' tour, right? I'm just laughing about trying to tell and convince you that Bidomics is working and we got some very bad economic news. So the timing is a little bad. Right in the middle of Joe's tour, inflation ticked up for the first time in a year after. And Joe has been telling us inflation has gone away. Remember, first he wouldn't even admit that there was inflation. Then they said it was temporary. Now he said it's going away. And guess what? You're wrong. I'm sorry. Come on, man. You're wrong. It's going up opposite. We all see it. I mean, you didn't even need to tell you that. Yeah. That it's gone up because, you know, you go get gas. You go to the grocery store. I mean, really? All right. Well, let's see what finance guru and CEO of the stocks who has to say about this, Melissa Armo, who knows more about economics than Joe Biden has ever known, is with us now. Melissa, great to see you. Thanks for being here. Thanks so much for having me. Nice to be here with you. First time on your new show. Congratulations. Thank you so much. So I thought, thank you. Yeah. Our team has really worked hard for it. And Joe Biden has really worked hard in getting America going in the wrong direction. Joe and Kamala said that inflation was fixed. Again, the story kept changing. I mean, it's so embarrassing. It was embarrassing before this even came out. I think in reference to the administration, they're trying to put a positive spin on things obviously going into the 2024 election cycle because Joe Biden is running again. I think that's one of the most shocking things that they're actually going to run Joe Biden again. The whispering is annoying. This shouting when he gets mean is annoying. It's not a professional way to talk to the American people. And honestly, no matter what they want to call it, everybody knows if you're a consumer, you're going to the store that things cost more now. Well, prices may have slightly gone down at the height since right after COVID, things are nowhere near what they were during the Trump administration if you rewind back four or five years ago. So I think the problem is how are we going to get cost down for people? And I think the spending that they're doing in Washington really isn't helping. So the Fed has been raising interest rates. They've raised them so much that actually it's caused some banks to go under because they weren't prepared for the interest rate hikes. And so that also has put pressure on consumers because if people are putting things in credit cards, if they want to buy a car, if they want to buy a home, you're paying more now for the exact same thing. And all that is going to is the interest cost, which of course is being collected by the banks. And some banks are actually benefiting from certain banks going under and interest rates going up. The big banks, the large banks, and some banks are going under actually and having a hard time with the smaller banks. So I think it's going to be tough going into 2024. If we have another number like today, if we have some bad economic data between now and really the fall season with the market, the market selling off today, it's going to be hard for them to talk people into that term by dynamics that it's a good thing. Yeah, yeah. Well, you mentioned all the economic indicators, Melissa. And they're scary. Inflation's up, credit card debt at a record high, over $1 trillion now. On top of that, Americans draining their 401Ks, myself included, putting it into other assets because I'm scared of what's coming. I'm investing in gold. What do you make of these economic indicators, though? And how do you tell people to weather the rest of this Biden economic storm? Well, it's difficult if you're a retirement age. So really, it depends how young you are. Both you women are young. I really wouldn't be worried. But of course, if you're over the age of even 75 and you're already taking money out of your IRA and you don't want stocks to go down any further, it's very difficult. We're selling off today. We've been selling off actually in the market since the beginning of August. I think August could be a very bearish month for the market. It's tough to really think about how could the market rally from January 1st in the last seven months we are up for the year, given all the backdrop of the economy, which we know, which is rising interest rates, and the fact is we could have a slowdown in the economy going into 2024, 2025. People can argue whether or not we had a mild recession. We're coming out of it or we didn't have a recession. We're going into a recession. I think there's a possibility that we've started the recession and we're going into it. And it's going to reflect more the numbers like you saw today into 2024. We also had another number today besides the inflation number on the unemployment claims ticked up. So the unemployment claims ticked up, which means companies eventually could lay people off. Okay. If they want to cut costs, what's one of the largest costs that employers have is a first payroll. So everybody is trying to cut back. And again, that that signs that we could be going into a recession, which is not good for the Democrats going into 2024. It's good for the GOP if they can sell it to people. But I mean, can they, can they really sell it to people? And that's the question because again, the Democrats have put a spin on it. Like Bidenomics is a good thing. But I think the overspending is not a good thing. And all Democrats want to seem to do is spend, spend, spend. So I think where you're at with your life, your age group, I think the market will come back. I think if we have four more years of Biden though, I don't know what's going to happen. I mean, I also don't know what's going to happen. That's a scary thought. And I know, like, I mean, I could ask you, what is Bidenomics? Because I don't think anybody can really answer it, including Joe himself. I think they're trying to paint this picture of like, this is all about investments and you just got to wait. It's, it's working. You just don't see it. Investments, a.k.a. tax raises. Right, right. But I real quick question before we let you go, Melissa, you mentioned the banks. I just kind of want to go back to that because I saw some reports and you said, you know, some banks had closed down because of these high interest rates while others are doing quite well. But I did hear reports that some of these smaller banks are also kind of on watch here lately that they're kind of on shaky ground. How concerning should that be for people right now? Well, if you're asking me if I think that more banks go under, yes, yes I do. But we never know when they go under. What happens is the FGIC comes in usually on a Friday afternoon. So you find out over the weekend or going into Monday when the FGIC comes in, they try to tank a bank over. Obviously, people's deposits are insured up to 250,000, but it's still very scaring for people knowing once that to happen. And the reason that the big banks have benefited from this is because a larger the banks, the more cash they have on hand, less chance of them going under so then people have moved deposits to other banks where they feel safer. But we need regional banks. We need small banks. You can go in, you can talk to person, get your questions answered. You can even meet and talk to somebody at the head of the bank. What if you need a loan? What if you need something to explain? What if you need someone to refund a late fee? You don't get the same service always if you don't know who you're talking to and the people that are making the decisions. It's a lending decisions. I used to work for small banks. I've worked for large banks too a long time ago. But we would sit and we had loan committees and we would make decisions about lending to small businesses, medium-sized businesses. And so that's the benefit of these regional banks and you're going to lose that personal touch and you're going to lose that opportunity that small businesses and medium-sized businesses have to be able to go in and get loans approved that they need. Again, who's going to, the bionomics term, there's no dictionary definition for that. That was a term coined by an article that was written a while ago and now they've decided to use it as something positive. It means nothing basically is what it means. They're really not doing anything to help the economy. Joe Biden in one of those clips was talking about all the jobs that came back. Those are just jobs that are coming back from COVID. Those aren't jobs that they created. Exactly. It's the same exact jobs. It's nothing different. And as I just said, we saw the unemployment number tick up a little bit with the claims. So if unemployment gets to over 4% in the next election cycle, that's not going to be good. It's not going to be good, but you are wonderful. Melissa Armo, thank you so much. CEO of the Stock Swoosh. Thank you so much for being here. We still got a lot more coming your way. We'll be right back.