00:03
Peter Dunn
We're live tracking the Supreme Court's decision day as potentially millions of dollars. It's billions of dollars. Lot of money forgiven in student loans or not. I'm Pete the planner. This is the Pete the Planner podcast. Damian Dunn joins me as always.
00:21
Damian Dunn
Hello.
00:21
Peter Dunn
Damn.
00:21
Damian Dunn
Hello. Pete.
00:22
Peter Dunn
Kristen is on at a concert. Is she still at the concert? Like let's say that there was traffic. Where is she?
00:29
Damian Dunn
Or the lines to the bathroom were really long. Has she just been stuck in a line the whole time?
00:33
Peter Dunn
She's on patio. Anyway, if you're listening to the podcast on Tuesday, 4 July, well, happy Independence Day and this doesn't feel like breaking news. But if you're watching live on the Internet, this is breaking news as Dame and I are following live whether or not the Supreme Court will overturn the Biden administration's forgiveness play of $10,000 of student loans person or $20,000 if you happen to have a Pell grant. Dame, this is the last moment this can happen. It is going to happen. Probably what in the next 1520 minutes.
01:08
Damian Dunn
We'Re going to learn, I would guess. Usually the opinions come out every couple of minutes after 10:00. It's just a matter of getting them pushed out and people getting them from the office inside the Supreme Court to their distribution links. So we are waiting.
01:25
Peter Dunn
Good day, Andy. Hello, Danza. Happy Fashion Camo Friday. That's right, I'm wearing Fashion Camo for those that only are using their ears today. Dame. So there's 0% chance this gets upheld, right?
01:37
Damian Dunn
I'm not going to say 0% chance. I think it is low. I think it's probably less than a 10% chance. But I've seen some crazy stuff, it seems like. So we got to hold on to our breath a little bit while we're trying to figure out if it's going to get released. They are starting to have the cases. The opinions trickle out. The first one that was released has nothing to do with student loans, but it could be literally any second.
02:02
Peter Dunn
All right. Wait, someone just came out. Did we miss one?
02:08
Damian Dunn
There's an opinion that's out but it's not on student loans. It has something to do with Colorado website designer.
02:15
Peter Dunn
Oh, that one.
02:16
Damian Dunn
Yes.
02:17
Peter Dunn
All right. So Dame Kristen is out this week. Our fine state of Indiana has been overtaken, or it was overtaken this week by the smoke of Ryan Reynolds, Poutine and the rest of Canada. That was not a fun to. At first I felt inconvenience, then I felt mad. I was very strange to be in the Midwest this week as smoke was literally choking people.
02:47
Damian Dunn
It was really depressing. It was walking around and normally summer is albeit hot, very beautiful in the Midwest, bright blue skies and gentle breezes and whatever you like about summer, usually pretty darn enjoyable. And this week was none of that. It was hot in most times and just you couldn't see and everything was orange and it was horrible.
03:18
Peter Dunn
So you've really seen one of the cases came out so far but the other one didn't. Like, I'm doing live updates and I'm not seeing the one that came out. How are you so better than me? Well, don't answer that.
03:30
Damian Dunn
I'll let our valued listeners answer that for themselves.
03:34
Peter Dunn
Here's what we're talking about on the show this week. And sorry, podcast, this is not compelling. I'm just going to be honest, this moment in the show has not been compelling. This three minutes and 41 seconds. If you hadn't already skipped through it, then sorry, but the show is going to get better from here on out. We are going to do our first segment is going to be on oh, scotusblog.com, Jerry, you ruined it.
03:55
Damian Dunn
That's where I'm at.
03:56
Peter Dunn
Oh, well, come on, Dane, why don't you tell me? I mean, I am trying to host the show.
04:02
Damian Dunn
I suppose that's right. For the good of the show.
04:05
Peter Dunn
You're talking about why titles for financial advisors and designations for financial advisors create such chaos for financial advising clients. So we're going to talk about that. Okay, so strikes down. I'm just sort of reading in real time. Anyway, let's start the show. Let's start with we're going to do the designation thing. We're going to actually end up talking about the student loan thing once it comes out. And then we're going to do our first six months in review of what our market predictions are and the reason we're doing it because Kristen is not here and I get the feeling that she's hammering us and so I don't want her to feel good about her good performance.
04:54
Damian Dunn
It's best for our egos. We are fragile men.
04:57
Peter Dunn
You want to start with oh, here it comes. I think TV news just broke through. Wait, hold on. Stand by, standby by. Andy, you better not be teasing us. Although we are now five minutes and 9 seconds into a tease. How in the world? Oh, it was the one you already had found. Never mind. Oh, Lord. Andy, Andy, you are banned from the show for 30 seconds. For 30 seconds. We're not going to count another 30 seconds. Let's start the show because I feel like at some point people are going to be like, this is dumber than normal.
05:38
Damian Dunn
502 shows.
05:39
Peter Dunn
That's where it ended, man. You just never know. All right, let's start the show. Can we start with the actual let's do the six month review. Let's start there.
05:51
Damian Dunn
Sure.
05:51
Peter Dunn
Okay, so you got to go in three, two, one. This week on the Pete the Planner Show, we answer your money questions. Here's how the show works. You email us, askpete@peterplanner.com that's, askpete@peterepeplanner.com and here's what happens. We might answer your question on the air. Sometimes we do. Last week we did. This week we're doing some other things. By we, I mean Damien Dunn, vice president of advice at your Moneyline. Hello, Dame.
06:13
Damian Dunn
Good day.
06:14
Peter Dunn
Pete and me. Peter Dunn. Nerdul. Dame, this week on the show, we're going to talk about our stock market predictions for 2023. We're six months in. Let's see how we're doing. We're also going to tackle financial advising titles and designations and why they confuse everyone who's just simply trying to get help with their finances. Finally, we are going to talk about the Supreme Court's ruling on the Biden administration student loan forgiveness plan. All right, Dame, six months in. Everyone knows. Here's how this works on the show. At the beginning of the year, each of the hosts of this show select what they believe to be the best stock of the year, the biggest loser of the year, and the S and P 500 for the year. And so the three hosts of the show are me, you, and Kristen, who's on vacation this week. So right now we are checking in best, Worst, and S and P 500.
07:16
Peter Dunn
Who is doing well and who is doing poorly. How do you want to do this? Dan, I'll put you in charge. Let's start with best. That's usually where we start, right?
07:25
Damian Dunn
Yeah, we usually start with the winners, where we pick what stocks we think are going to do best for the year. And we've had, let's be charitable and say varying results with our mean.
07:39
Peter Dunn
So how bad is Kristen doing?
07:40
Damian Dunn
Well, Kristen, she went out on a limb this year. I'm going to be honest. She chose Tesla to be her winner for the year.
07:49
Peter Dunn
Okay.
07:51
Damian Dunn
Tesla is up, give or take 121% for the year.
07:58
Peter Dunn
So that's a good pick.
08:00
Damian Dunn
Yeah, it's not bad. Not bad at all.
08:03
Peter Dunn
All right, so that's a solid pick. Dame, how are you doing? What did you choose and what do you pick? So Christians have 121%. That's an amazing pick, by the way. Have we said it yet? Don't follow any of these predictions or recommendations. You are not to take action on any of these things within your own individual vesting. This is for entertainment purposes only. Dame, what's your choice and how are you doing?
08:24
Damian Dunn
I went a little bit more conservative, of course. Last year, I made the very controversial pick of Berkshire Hathaway as my winner when it was just worked out pretty well for me. This year, I went with very conservative choice, Apple. I chose Apple as my winner for the year. I got to say, Pete, it's doing really well. It pales in comparison to Kristen's pick of Tesla, but Apple so far this year is up 47%.
08:53
Peter Dunn
I did see it just cracked over $3 trillion of market capitalization this past Friday. So that's compelling. Congrats to you for that. And what did I choose as the best? This is personal finance expert, world renowned.
09:08
Damian Dunn
Oddly, truly oddly still on TV doing news hits this week. Yeah. People value your opinion in all things personal finance. Last year you went with do we need to review last year?
09:23
Peter Dunn
No, not last year. We want to do this year. We're talking about this year.
09:26
Damian Dunn
Okay. Cushman, Wakefield, for those of you playing at home, last year, this year Pete went with bank of America.
09:34
Peter Dunn
Okay. We're six months in. It's a long year. We got six months to go.
09:38
Damian Dunn
Six months. Big banking, very stable. Great dividends. This year bank of America is down 13.9%.
09:47
Peter Dunn
You know what? We have six months left. Don't look to wait. I was going to say don't look a gift horse in the mouth. That's the wrong saying. What am I going with? Don't count your chickens before they hatch.
09:58
Damian Dunn
That is true. That is true. There could be a lot of headwinds, but as we've talked in previous weeks, tesla is diversifying and the other automakers are adapting their cars to fit the supercharger network. So it seems like they're going to get some extra revenue there. Apple, of course, is just a behemoth and releasing new products even if they're not necessarily all groundbreaking, but continues to put out a high quality product and revenue just keeps flowing in. And bank of America. Well, they're not Wells Fargo.
10:26
Peter Dunn
Okay, dame, biggest losers. What was Kristen's biggest loser pick?
10:32
Damian Dunn
Kristen went with Rite Aid, one that I had never even considered but she dug up somewhere because she pays attention or reads more better than I do. Who knows? She chose Rite Aid and it is down 54% for the year.
10:49
Peter Dunn
So this is the biggest loser. She's down 54%. So here we're looking for the biggest negative. So as of we've read one person's thing, she's at 54% negative. That's good.
10:59
Damian Dunn
Yeah, it's great.
11:00
Peter Dunn
What did you choose as the biggest loser of the year?
11:03
Damian Dunn
I chose Xerox. They had some issues in terms. The paper company, you remember Kristen's paper company? They are up 1.0%. So not bad but not great. So Xerox is one of my loser pick. I feel confident they can get into negative territory before the end of the.
11:27
Peter Dunn
Year if they keep working hard.
11:28
Damian Dunn
Yeah.
11:29
Peter Dunn
And in a moment of spite, I selected Tesla as my biggest loser of the year. What are the returns so far?
11:41
Damian Dunn
Up 121%.
11:43
Peter Dunn
So I'm in last place by a wide margin.
11:46
Damian Dunn
Kristen's down 54% with her pick. You are up 121. Do I need to do the math on that spread?
11:54
Peter Dunn
Let's go on to S and P 500. This is where I feel like I'm beating everyone. The S and P 500 is what is up. What, 13% this year as of this.
12:07
Damian Dunn
Last refresh in this spreadsheet that I have that tracks everything, it says 15.1%.
12:14
Peter Dunn
What was Kristen's selection for the year? Okay. So we've got still six months to go. This has got a way to shake.
12:20
Damian Dunn
Out, but oh, yeah, absolutely.
12:22
Peter Dunn
James, what were you two?
12:24
Damian Dunn
I chose 2%.
12:25
Peter Dunn
You already had 2%. So again, six months it could shake out. And what did one of the world's foremost experts on money.
12:32
Damian Dunn
Select 19%.
12:35
Peter Dunn
Okay.
12:37
Damian Dunn
You got a shot?
12:40
Peter Dunn
I have a shot.
12:42
Damian Dunn
Would you rather win one category and be wildly last place on the other two, or would you rather be second in two of them and last in one?
12:53
Peter Dunn
In a rare moment of sincerity, I would have to suggest that I don't pretend to know anything about individual stocks. I really don't, and I don't care, and that's the fun of it. However, I feel as though I have a pretty good grip on what the general market is going to do, and so I do feel confident. Do you feel not so good about your 2%?
13:17
Damian Dunn
I anticipate being in last place in this one, specifically now. I do think there are some particular challenges that might face the economy and the markets between now and the end of the year, additional rate increases, that ever looming recession that we keep hearing about out there. If that ever starts to rear its head, it's just a number of potential things that could slow it down, freeze it, maybe draw it back. Of course, we've got the normal pullbacks that we see in October every year. I don't know, Kristen's. 13 might be really good.
13:56
Peter Dunn
I would take 13 or what's mine? 17 or 19. I'll take them. All right, dame, let's do this. We're going to take a break, and when we come back, you and I illustrating the point of here, you and I and kristen know a thing or two about money. Some of us even hold designations, and a lot of people in the financial world hold designations. They hold different titles, and we take our guidance and advice from them. But in the next segment, we're going to explore why sometimes those titles, sometimes those designations create so much more confusion than they lend to helping us make good decisions. You've heard the titles before CFP, CLU, ChFC, CIC. CIMA. You've got investment advisors, you've got financial advisors, you've got investment consultants, you have financial planners. It's absolute word salad and alphabet soup. So when we come back, we're going to do our best to shed some light on some of the differences between the different designations and some of the differences between the different titles.
15:11
Peter Dunn
All of that is next right here on the Pete the planner show. I'm Pete the planner. For those playing at home. That was a 1 minute outro.
15:21
Damian Dunn
That was amazing.
15:23
Peter Dunn
That was amazing.
15:24
Damian Dunn
I saw you start winding up, and I thought, this is either going to go fantastically or it's going to be one for kristen to clip when she comes back.
15:34
Peter Dunn
All right, so no ruling from the supreme court so far yet on the student loan thing. So what we're going to do is we're going to do the next segment, and we got to buy a little bit of time here because by the time we get to the third segment, that is our topic.
15:52
Damian Dunn
Yeah, it could just be a whole segment of us just watching our screens that'd be really.
16:01
Peter Dunn
Know. It's weird because as I think about what's about to happen with the ruling from the Supreme Court because we do this for a living, I've not spent an ounce of time trying to think about what my opinion is as to what should happen. I'm only consumed with what does happen because it impacts us and our business one way or the other. We're not good or bad as an organization if the forgiveness is upheld or kicked back. It doesn't impact us that way, but it does impact how we give guidance and how we serve the hundreds of thousands of people we serve. So it is a really I don't know, it feels like a very big day.
16:49
Damian Dunn
That comment about really not thinking about what should happen in our own perspectives is interesting and I would argue that you're the only person in our organization that has an opinion that matters because you're the one that's out representing us on news shows and whatever. But whatever, I think it doesn't matter. I've learned to kind of set what I think aside for a number of things. When we're directly helping people, we just deal with the facts of the matter. It's not coulda, woulda, shoulda, or what we think should be reality or what's fair and just. But here's the reality of the situation. Here's how we can apply the facts of the matter to your situation and help you get from point A to.
17:37
Peter Dunn
Point B. Yeah, I agree with that in the sense that I am more public. But over the years I've really pulled back on my opinion as to what should happen and really focused my opinion on the ramifications of what is happening, which is nuanced. And it's also how frankly, I avoid hot takes, like actual hot takes. We do hot takes on this podcast all the time for entertainment purposes, but actual in the media on serious news broadcasts. I'm not looking to gain people on my side. I'm not looking for fans to be like, I agree with him. I don't care about that actually anymore. At some point I did. Now I want to know what is a business owner to do? Not me, but what is a business owner to do when they employ some of the 40 million Americans that have student loans and how will this impact them?
18:38
Peter Dunn
That's what I care about.
18:39
Damian Dunn
I think I caught you at the very end of that period of your life where you were really concerned or where you were interested in generating as many followers as possible or trying to have that public persona. And maybe it was me, maybe it was my effect on you of saying, you know what, no, just pull back.
19:01
Peter Dunn
It is weird being a part of the news media and the people in the news media that I really appreciate the most are the people that react to the news react to legislation or court rulings about the impact as opposed to what they think should have happened. Because I have an opinion what I think should happen. I just don't think anyone gives a rip. That's the self awareness that I appreciate in others. It's just like Damon, you and I, on a lot of these issues that have come out this week, you and I either agree or disagree. But as it relates to how we serve people, we're just really sort of more focused on how do we advise the employers of which employ us to help their people. Yeah, I don't know. I feel like I'm tooting our own horns. I don't mean to do that.
19:58
Peter Dunn
I'm just trying to because I know it's an emotional day already based on the rulings that are out there. And I certainly have feelings about the ruling that's out there. This show is not about that.
20:12
Damian Dunn
I think that's one of the things that a lot of people appreciate is that just a Fetton. Maybe not just the facts, ma'am, but we play it pretty straight.
20:21
Peter Dunn
This show is not about opinions. This show is about comedy. Some of my favorite reviews early in this show of the 852 episodes were like, quit trying to be funny and just teach us stuff. And it's like, you know, that's not really what I want to do. Listen to something else. Okay. Who cares? Let's do financial titles and whatnot. In three, two, one. Back on the Pete the Planner show. Dame I've had several business cards over the course of my career, starting, I think, my first business card. I got to think about this probably in 1999, the summer of 99. I was a college agent. Was my title. A college agent for Northwestern Mutual Insurance Company. I sold life insurance as a college kid, then staying in the financial business. Beyond that, my title changed. It seemed like every six months. Yet odly. Dame my job didn't change at all.
21:34
Peter Dunn
So my title kept changing. What I did for a living didn't really change until it did probably, we'll say 2012 when I sold my investment practice, I would say my job permanently changed and now it is rather permanently changed as simply just CEO of a financial company. Right. But Dane, the financial industry really struggles arguably on purpose to help people understand what professionals within the financial industry do for a living. Do you find and we're going to get into the specifics of this, but do you find this to be a disingenuous action on behalf of the financial industry or do you think it's just a byproduct of different standards?
22:21
Damian Dunn
It's a really great question. I think there are some bad actors, bad agents inside of the financial industry and whatever leverage they can get to seem more sophisticated, professional, valuable to the client, they're going to take it. And so if they can structure present themselves in a certain way and have a backup with a title on a business card that says, this is who I am. They're going to play that. And there's been a huge discussion in the financial industry over the last few years about making sure that the clients interests are first and foremost across the board for everything. And a lot of industries don't have nearly that tight of regulations around that. And there are people who can take advantage of clients.
23:27
Peter Dunn
Let's think about people who give advice in other industries and the standard of which we look through that lens. So let's say we start with medicine, an MD, can we say is the gold standard with maybe a do, an Osteopath potentially. I don't want to say call them second fiddle. I'm just going more with influence and commonality. Would you agree with that? Beat it up if you have to.
23:58
Damian Dunn
I would say it depends on what I am seeing the healthcare provider for. If I've got some sniffles, do I necessarily care if it's a doctor, a do, nurse practitioner? No, I don't. I'm pretty sure they can take care of the needs that I have in those cases. But if we're talking about higher level things yeah, doctors or dos, I think MD or do is the top tier in the medical profession.
24:30
Peter Dunn
And the strange thing, and we've argued this on this show before, an EMT, I'm sure there's designations for an emergency medical technician that in certain medical situations you most probably want to see instead of a surgeon who doesn't deal with that issue. Okay, so that's one lens. How about in the law profession? That seems pretty standard. You either pass the bar or you don't. Would you agree with that?
24:59
Damian Dunn
Yeah, you can graduate with a JD and still be very knowledgeable about law, but if you're going to go out and actually practice it in front of a court, yeah, you got to have that, pass that test, get into the bar of that state.
25:15
Peter Dunn
And from a tax standpoint now this is tax standpoint is pretty interesting here because there's a CPA, but in terms of tax preparation for the common man or woman, you don't necessarily need the expertise of a CPA and in some instances you can use tax preparation software depending on the simplicity of your financial life. But Dame, CPA is the gold standard. But you know this very well. There is another designation within that world that doesn't really impact any of us. And what is that?
25:47
Damian Dunn
EA enrolled agent. That's actually a designation, a certification that you can get directly that's overseen, I should say, by the IRS and gives that individual the ability to represent you in front of the IRS should your return need a little bit of defending. So you don't have to be a CPA in order to be able to know how to prepare a tax return. Very well. Enrolled agents are pretty darn qualified to do that.
26:18
Peter Dunn
Okay, so these are major industries, major service professionals that have pretty distinguished standards. And now on to people's financial lives. Damn, it's a mess. I was a personal financial representative for a long time. I was a financial planner. I was a personal financial agent. I was an agent, I was an investment advisor, I was a financial advisor. My job never changed, ever. Just all the titles around it changed. And I don't have any designations. So people always wonder, how do you know all this? Do you have a bunch of don't? I don't. I took several CFP courses. I did not sit for the exam. You happen to have a certified financial planner designation, which I view to be probably the gold standard of our.
27:21
Damian Dunn
I don't. I don't disagree. I think the CFP has done a nice job of positioning itself as the gold standard in the financial planning industry. That doesn't mean there aren't value to be found in other designations, especially for specific situations. But that's part of the problem, is that there are a million different designations. One that we have known and appreciate deeply, are accredited financial counselors, AFCS. And if you're looking for somebody to try and help you get through the day to day struggles of your financial life and try and get some consistency and stability there, an AFC is perfectly situated for that, but it's not anywhere close to being nearly as well known as what a CFP is. And then you go into this alphabet soup of other designations. I mean, we could play a guessing game for the next three minutes on, I read the letters and you try and tell me what they stand for.
28:15
Damian Dunn
And it'd probably be pretty funny but also depressing and very enlightening at the same time. Just to say that as people who are in the financial industry, even we don't know what all the designations necessarily mean.
28:26
Peter Dunn
I think what's so hard about this dame is that most of these alphabet soup that get put behind names, you have to get a level of education around them. Right. There are courses and certifications, but it's as much of a marketing exercise as anything else. And it is 100% pay to play. Right? Yes, you have to pass courses, but it is pay to play. Yes. You could argue an MD is pay to play. Yes, you can argue a CPA is pay to play, but not nearly in the way as financial designations are.
29:06
Damian Dunn
Yeah. If I'm looking at somebody to help me with my finances, how about I.
29:13
Peter Dunn
Will let you clear your throat and hit thanks for a second as I step in? Because here's an important element to this. Dame has a CFP. Dame happens to share his life with a CPA. And so do you view those dissimilar? The other ones are not pay to play like it is in the financial world.
29:31
Damian Dunn
Yeah, those are two of the most difficult to get. CFP is just a backbreaking test. CPA is not only a bachelor's degree, but additional coursework on top of that and then a very rigorous test to go from there. And then we've got pretty high standards for Ce beyond that. So if I'm looking for somebody to help me with my financial life and I want the top tier, they have a very broad understanding of financial lives in general, CFP, CPA, and then if you want to really just kind of get into it, an estate attorney.
30:04
Peter Dunn
So we've shed light on this issue and we're going to have to cover the ramifications of it all. More here in a bit. So let's take a break. Coming up after the break, we're going touch on the Supreme Court's decision around student loan forgiveness. That's next. I'm Pete the planner.
30:20
Damian Dunn
We blew that.
30:21
Peter Dunn
That's on me time wise. It's so funny to even set. That could be a whole show. It just occurred to me because we really didn't make a point other than to say it's confusing, it's silly. It is silly. I just remember so I worked for, early on, a couple of very large companies, and just at the corporate level, at the headquarters, they decided they wanted to be called one thing, call us one thing versus another thing. And so then, arguably, millions of dollars of stationery was scrapped and millions of dollars of stationery was purchased just so you would change like a word and nothing else changed.
31:11
Damian Dunn
Yeah. It's a frustrating, I should say, scenario for even other professionals in the industry, because we look at it, and the designations themselves, to your point, they don't mean a whole lot. Because you need to know that person, that's actually doing the servicing and what their experience is, what their competency level is and how they apply it with their clients to know if they're really worth anything at all.
31:41
Peter Dunn
I think I have a pretty firm opinion on what I'm about to say, but before I levy it, I'm thinking, do I need to hedge at all? I don't mind making people upset, but if I'm working with a professional that is advising me about my assets in assets that are being invested okay. So I'm not talking about my home, but I'm talking about an IRA in any capacity, an Individual Retirement Account, a chunk of money that you want to grow if you cannot find them on broker check, if they are not registered with Fenra, I would have a pretty big problem with that. Is that too spicy or is that accurate? Who am I missing here?
32:40
Damian Dunn
I don't think RIAs are necessarily all listed on broker check, but I think they are.
32:47
Peter Dunn
I could be wrong to be wrong.
32:50
Damian Dunn
But I don't know. It's been a while since I've been in that game, so I'm not entirely sure. I guess I could look myself up and see if I was listed when I my own. But you were. Was I. Yeah, see, somebody did some research.
33:02
Peter Dunn
Yeah, so I think it's more of like when I have no problem with insurance professionals. In fact, I really appreciate insurance professionals, but they can often let me recast that can sometimes cross over into this first student loan case. Department of Education versus Brown. That's not the one, is it, Dame?
33:24
Damian Dunn
No, sorry, I was checking myself out.
33:29
Peter Dunn
I didn't even know you had a mirror in the studio. I think sometimes that insurance professional can cross over to advising on a bunch of other assets, and I find that to be a problem. Wait, no standing.
33:40
Damian Dunn
That's not it.
33:41
Peter Dunn
Okay, in real time, if you're listening on podcast, we are still monitoring the student loan forgiveness situation. What is department of Education versus Brown? What is that?
33:56
Damian Dunn
Oh, wait, it is.
33:57
Peter Dunn
What?
33:58
Damian Dunn
That is the one.
33:59
Peter Dunn
Are you serious?
34:00
Damian Dunn
Yeah. The decision the opinion says to alleviate hardship expected to be caused by the impending resumption of federal student loan repayments that have been suspended during the multi year coronavirus pandemic. Oh, wait, sorry. So wait, is this I think this is.
34:21
Peter Dunn
I'm the one chance that it had was no standing.
34:26
Damian Dunn
No standing.
34:28
Peter Dunn
Unanimous. No standing. Oh, there are two. Wait, hold on. Carrie says that's student loans carrie says there are two.
34:38
Damian Dunn
Yeah.
34:39
Peter Dunn
Isn't it great when you've got experts like us distilling what this all means?
34:44
Damian Dunn
Yeah.
34:45
Peter Dunn
We have the second student loan case. The chief is the author. She many Christmas name. We probably should have figured out what we're doing before went live to the air.
34:54
Damian Dunn
Where's Kristen?
34:56
Peter Dunn
Exactly. Come on, Kristen. Has she texted you yet? It's her day off.
35:01
Damian Dunn
She texted me. Still waiting.
35:03
Peter Dunn
When did she do that?
35:07
Damian Dunn
Like 15 minutes ago.
35:09
Peter Dunn
The court holds that Missouri, at the very least has standing. What does that mean?
35:16
Damian Dunn
Come on, SCOTUS blog.
35:19
Peter Dunn
I know someone who went to law school. The vote is six to three kagan descents, joined by Sotomayor and Jackson. Okay, what does this mean, Dame?
35:33
Damian Dunn
So that means the conservative bloc held together, and I have no idea what that means.
35:44
Peter Dunn
And the show ended at 502 episodes. It means they can legally sue. All right, Carrie, you're confusing me, too. This is how dumb I am. So here's what's happening. If you're on the podcast, right, you this is the worst part, Dame. Podcast people already know.
36:07
Damian Dunn
They already know.
36:08
Peter Dunn
By the time they're listening to this, they're like, what a bunch of idiots. And meanwhile, as a couple of idiots, I have no idea what just the.
36:18
Damian Dunn
Court agrees with the states that the Heroes Act does not authorize the debt forgiveness plan.
36:23
Peter Dunn
Okay, so overturn struck down struck.
36:29
Damian Dunn
Think.
36:30
Peter Dunn
Okay, I feel comfortable in this. Thank you, Carrie. Carrie, here's the thing. You're trying to help us out, and I'm too stupid to be that's. That's the thing. To be clear, the court has struck down the Biden administration debt forgiveness.
36:48
Damian Dunn
Thank you, Amy Howe.
36:50
Peter Dunn
Thank you finally notice.
36:51
Damian Dunn
Blog.
36:52
Peter Dunn
Okay, so this is what I thought would happen.
36:57
Damian Dunn
But you were really nervous there for a second. My argument this morning to Damian off the air was if forgiveness happens, it will be more chaotic for us and our world and everyone than had it been struck down.
37:01
Peter Dunn
Okay, can we go a little inside baseball here that we're going to let people into?
37:04
Damian Dunn
Yeah.
37:07
Peter Dunn
My argument this morning to Damien off the air was if forgiveness happens, it will be more chaotic for us and our world and everyone than had it been struck down. Because the status quo is there's no forgiveness. So we're all used to not there not being forgiveness. The who gets forgiven, who gets refunds would have been a nightmare. Whether I think it should have happened or not, irrelevant. This actually is less chaotic.
37:43
Damian Dunn
For us. I mean, that's incredibly selfish.
37:46
Peter Dunn
No, well, no, I'm talking about myself. And Jason brings up a really good point. He said he wasn't going to let the show go to 1000 episodes. We all thought it would get a little more than 502. Okay, so here's the question that Jeremy asked, and I have a very distilled answer is this. When the recession starts, this is the trigger, in my opinion, to what will be a recession, but it does not start until the fourth quarter because it's the next couple months of whether people prepare or not for what's going to happen. Dame disagrees. He leans back, he touches his ear, which is a sign that a woman is interested in you. Do you know that? Oh, it's her hair.
38:30
Damian Dunn
A woman touches her hair, there might be an ear thing.
38:35
Peter Dunn
I don't know. I read it in Cosmo when I was in middle school.
38:38
Damian Dunn
Yeah.
38:39
Peter Dunn
Dame, you disagree?
38:41
Damian Dunn
If it goes through as intended or as laid out, yes. Payments will technically restart here in a couple of months, but I think there's going to be an opportunity to go into a forbearance for a year. So it could be a year from this fall before we really start to feel the widespread effects on that's fair the economy.
39:05
Peter Dunn
That seems informed. Man, we got to do more live SCOTUS blog podcasts.
39:12
Damian Dunn
Just pick a case that we want to follow for giggles.
39:17
Peter Dunn
It just occurred to me how big of idiots we are. We're having this discussion not on the radio right now. What are we doing?
39:28
Damian Dunn
We get to have it again all over again.
39:31
Peter Dunn
Oh, and of course, Kristen just hits the Slack channel with the details of she's. So here's what's happened. You and I have just wasted our own time not being on the radio, and Kristen takes action amongst our entire organization and hits everyone on Slack while you and I are just verbally tickling each other on a podcast.
39:50
Damian Dunn
All I see is details to come. She actually put something in there?
39:55
Peter Dunn
Yeah, in the general Slack, literally, it.
39:59
Damian Dunn
Just says details to come if applicable.
40:04
Peter Dunn
Yeah, but she said no student loan, forgiveness. She actually shared information with her colleagues.
40:08
Damian Dunn
Yeah. I thought you said there were details there. But okay.
40:12
Peter Dunn
Maybe a few MERP replies coming. Okay, listen, we've got to go on the air right now. And by on the air, I mean we have to record something that will not air for 48 hours. Okay. What the heck does our show air earlier Saturday?
40:34
Damian Dunn
It airs early Saturday morning, like a 06:00 a.m. Slot in a couple of places where, you know, people are listening.
40:41
Peter Dunn
You know who loves financial advice at 06:00 A.m. On a Saturday?
40:46
Damian Dunn
Nobody.
40:47
Peter Dunn
You're driving to get donuts like, I'm going to surprise my family. And then it's like, listen, they'll the Paint Planner show. And you're just like you trying to wreck your truck because you just can't take it.
40:59
Damian Dunn
Yeah, it's unfortunately, it's the farmer who's got an old truck with an Am radio that doesn't turn off of one station anymore, and it's just the one that we're on. And if he's driving, he can't even turn it off. He has to listen to us.
41:12
Peter Dunn
Dame this was a big week for the flashlighted community in central Indiana. A lot of power out, and you were getting shout outs left and right on the company slack about your insistence on pocket illumination. Can you shine that into the camera and let me see if it blinds? Oh, my God. Blinded me. That was like I was watching a professional. Welder a craftsman. Do it again. That was crazy.
41:45
Damian Dunn
I don't value my eyesight. Do it again.
41:48
Peter Dunn
That's crazy. Holy cow. Okay, let me do the light on.
41:54
Damian Dunn
My you'll be shocked. Although this one diffuses way more, doesn't have the throw.
41:59
Peter Dunn
Does that do anything?
42:00
Damian Dunn
Not really.
42:03
Peter Dunn
I don't know why I'm growling. Does that help with illumination?
42:08
Damian Dunn
Scares away the meanies in the dark that you're using your light for.
42:12
Peter Dunn
Three, two, one. Back on the Pete the Planner show. Dame this week, in a landmark decision, the Supreme Court ruled I'm sorry, I can't be that serious. Dame the Supreme Court said President Biden's student loan forgiveness plan that was part of the Heroes Act is no bueno, which is Spanish for no good. So therefore, all of the student loan forgiveness as it relates to this action is not going to happen. Thoughts?
42:47
Damian Dunn
I'm glad you hedged that because I think there's a very high likelihood that we try and see another attempt at student loan forgiveness using I think it was an education act of some sort, or maybe they try and get a little creative in a couple of other spaces. But I don't think this is the last time we deal with this. I really think there's going to be another push, and I don't know what it's going to entail or what it's going to look like or what the amounts are going to be, but we haven't heard the last of student loan forgiveness. But that being said, now we need to start preparing. If you've got student loans, the clock is ticking and you need to start getting your finances in order to assume those back into your life when we.
43:30
Peter Dunn
Have this discussion sans our student loan expert Kristen, who's off next week.
43:36
Damian Dunn
Great timing.
43:37
Peter Dunn
Great job, everybody. Dame it is important that as people are listening, they understand that we are not weighing in on what we think should happen because we are not experts at that. We are talking about what we think will happen and what we also talking about the impact of those things happening. And so the current impact of what has just happened is that student loan payments, the clock is ticking, as you said in October, payments are due. And that is going to be incredibly disruptive in several different people's lives and specifically in some very stressful industries. You're going to see some challenges. I think you're going to see K through twelve. Schools have further struggles with teacher retention as young teachers who have never paid a student loan payment because they graduated in March of 20 May of 2020 and payments got shut down in March of 2020 have created their entire lives for three years.
44:40
Peter Dunn
They've rented an apartment, they have a car, they've set their food budget, they've got their Hulu subscriptions, and now they're going to jam a three $400 payment into that. In retrospect, you're going to see people leave teaching and go to a higher paid profession, which is a massive problem. And you're also going to see health care struggle as people are going to be bouncing around healthcare systems for higher wages, which in itself is not a bad thing, but it's going to become so disruptive because people will not have the proper cash flow strategy to deal with this. So that's what I think is on the horizon is I think you're going to have industries that struggle with retention. That's employee retention, right? The other way to say that is turnover. I think they're in trouble.
45:33
Damian Dunn
I think you have some merit to that argument. There are some really big benefits to staying in those professions though, I think of K through twelve specifically. Are they paid the greatest? Especially if you're new? No, you're not. But your get out of debt card is much bigger if you stay in that K to twelve profession. So if you are in that industry right now, which sounds sick for me to use K through twelve as an industry, I probably should have chose a different term. If you're in that profession right now, don't abandon it. Please talk to somebody who can maybe help you figure out how to fit that payment into your budget on a month to month basis because you have PSLF available to you. If you ignore that or you go outside of that and you get on a payment plan, you're going to stretch those out instead of being done in ten years or 120 payments, you might drag that on for years and years extra as to what is next.
46:40
Peter Dunn
And as to what has happened in the last ten months. We live stream by the way, this show and one of our livestream viewers tod notes so if there are talks of another attempt at forgiveness, won't this only hurt student loan holders as they may only make minimum payments in hopes of it eventually getting forgiven? I would argue it's not really about minimum payments, it's more about people holding out hope that forgiveness is somehow around the corner in a different angle. I 100% believe the Biden administration will not abandon this. They will come at it at a completely different angle. It will, for better or worse, be politicized because of the elections coming up. This is actually going to get worse and it will actually make things worse for people who have student loans. Because if you're holding on to hope as a financial strategy around student loan forgiveness, you're going to be disappointed because there is a 0% chance, in my opinion, that this just doesn't get classified as politics due to the election.
47:52
Peter Dunn
And so therefore, I don't think there's going to be any movement going forward. And even if there is, it would go right back to the court and we've already seen how they've ruled on this.
48:01
Damian Dunn
Yeah, we've already seen, or at least I've seen. I know you don't spend nearly as much time on social media as you used to, and I'm sure you're a better person for that, pete but in social media yesterday, I've been on it more than I have in quite a while, just because of all the things that are going on. And there are already plenty of folks and I know social media is not real life when it comes down to it, but many opinions out there say tying elections have consequences. And if we can get this taken care of and this party does this or that party does that, we can get that result that we really want. And that could be literally decades away to get to there at some point. It may be tough, it may be a struggle, it may be a challenge, but you have to stop relying on hope as your primary strategy on how to get over this challenge.
48:53
Peter Dunn
And this is where you and I have been saying, at least as it relates to us being financial experts and trying to discuss this topic. We've said you and I are keeping we're trying our best, and maybe we aren't, but we're trying our best to keep what we think should happen out of this discussion and really revolving around what is happening. Dame I think as a society, people are struggling to keep what they think should happen out of how to react to what is happening. I think people had rose tinted glasses the last ten months as it related to this legislation and did not put a plan in place to begin repayment and it has hurt them because of what they think should happen.
49:43
Damian Dunn
I don't disagree one bit. I think there are a number of folks who would have been much better off if you found yourself in that position. You would have been much better off trying to figure out how to carve $50 a month whatever. And then another 50 on top of that, trying to get your budget in place over that ten month period. So you could just slow walk it to the point where you thought your payments were going to be once they start back up and not have that anxiety and that crushing sense of despair. When they start back up and you don't have answer for that. So, yes, that's a coulda, woulda, shoulda. But now people are going to have to do the hard work of figuring out where that money is going to come from and how they're going to satisfy this obligation.
50:28
Peter Dunn
Yes. I don't want to say strange week with Supreme Court rulings because that seems judgmental, dynamic week. Right. It has certainly been an impactful week to people's financial lives. And I think as it relates to people's financial lives, this ruling that happened in regards to student loan forgiveness might be the most impactful thing from a financial perspective. All right, so, Dame, let's do this. We're going to take a break and when we do come back after the break, we're going to do a couple of things. Biggest waste of money of the week, and it is such a waste of money that several people have sent it to me. You've likely seen it. Several people have sent it to me this week as like, this has to be the bomb. And it is the bomb, and I hope you haven't seen it because it sort of blows everything away and then, believe it or not, in what was a pretty spicy newsweek as it stands in the financial world.
51:24
Peter Dunn
Anyway, we do have more news items. Ours are probably a little more trivial and a little more giggly than what else you've seen the rest of the week. But all that is next, by the way. It is 4 July, extended weekend for those people out here in this world. So happy Independence Day for all those that celebrate it. And by all those that celebrate it, I mean well, frankly, Americans, because it's just July 4 in Spain. All right, coming up, Pete the Planner show bomb the news. That's next. I'm Pete the planner. That time I went for another minute outro. Less appealing. Less appealing.
52:01
Damian Dunn
Still solid.
52:02
Peter Dunn
It was okay.
52:03
Damian Dunn
Still solid.
52:04
Peter Dunn
It got a little repetitive.
52:05
Damian Dunn
That's what see, I think I know what you're going to show, and if you don't, I'm going to be disappointed that I didn't send you what I saw.
52:16
Peter Dunn
Is it handbag related? Yes.
52:18
Damian Dunn
Okay. Yes.
52:19
Peter Dunn
Everyone in the world has sent this to me this week, actually. I'm trying to think of the first person that sent it to me. It was one of our I don't really get on Twitter much, but I got on my desktop, and it's a nice young woman who sent it to me from there. I can't remember her name, and I'm sorry. You know what? Now I got to look. I don't want to look. I don't know. I'm sorry. Thank you for sending.
52:46
Damian Dunn
You know who you Are.
52:47
Peter Dunn
I'm on SCOTUS blog.
52:50
Damian Dunn
Yeah.
52:52
Peter Dunn
I say this next comment. I don't want to say it on the air. I'll say it on the podcast. And I want to say it sort of carefully, because I don't want anyone to feel marginalized. There's a particular demographic or a few different demographics that have exposure to so many of these rulings this week. That, man, that's got to be a lot to deal with. I say that out of respect, because I know people line up on different sides of these issues. Some of these issues affect different people. But, man, I feel bad. No matter what my opinions are, I feel really bad. There are certain people this week that just it feels like literally every single ruling went against their interests, and that's got to be tough to deal with, right?
53:44
Damian Dunn
I can understand that.
53:45
Peter Dunn
Yeah. Absent of whatever. I think that's got to be no good. I don't know. Is acknowledging that helpful, or is acknowledging that not helpful? Who knows? Okay, man, the thing about this bomb is it's even hard to set up. It's so stupid. But let's do it anyway. I got a meeting. I got to go. All right. Sorry, Jeremiah, but it's a special skeletal's blog. All right, let's start the show in three, two, one. This week's biggest waste of money of the week, right here on the Pete the Planner show is the Louis Vuitton micro purse. That's right. It's smaller than a grain of salt, narrow enough to pass through the eye of a needle. This is a purse so small that you'll need a microscope to see it. There are big handbags. There are normal handbags and small handbags. But this is the final word in handbag miniaturization.
55:02
Peter Dunn
As a once functional object, like, a handbag becomes smaller and smaller, its object status becomes steadily more abstracted until it's purely a brand signifier. Louis Vuitton at auction, in conjunction with Mischief, which is some sort of brand with the vowels stripped out of it yes. Have produced the size of a grain of salt, a handbag, a detailed handbag. Dame, it's sold at auction this week for $63,000. It is not functional. No, you can lose it with a sneeze $63,000. Dame, I know this is not the general format of biggest waste of money of the week, but that might qualify as the all time biggest waste of money. No.
55:55
Damian Dunn
I was trying to figure out, what do you do? Do you give it to someone to put on display? I mean, you can't just leave it in your house. There's no way you're ever going to keep tabs on it? Put in a safe deposit box. I mean, essentially, you just forked over $63,000 for air because you can't even see detail on it. I will say in the article I saw, they had a zoomed in picture from an electron microscope or some sort of microscope, and there is a shocking amount of detail on the bag.
56:29
Peter Dunn
But is it a bag if there's no opening?
56:32
Damian Dunn
There's no opening. It's a piece of plastic.
56:36
Peter Dunn
There's literally no opening.
56:38
Damian Dunn
No, I don't get it.
56:41
Peter Dunn
I think if you bought it's just basically your scarlet S for stupidity that you'll have to wear for the rest of your.
56:51
Damian Dunn
I don't think Louis had anything to do with it. I think it was just a creation that was done. Do you think they're happy about this?
57:01
Peter Dunn
Of course they are, because it brings a steam to their brand.
57:07
Damian Dunn
Is that what we're representing here? Reflecting is a steam?
57:10
Peter Dunn
Dan's on our live stream might have the best joke of the year.
57:14
Damian Dunn
It's to hold your bitcoins.
57:19
Peter Dunn
That's amazing. Oh, by the way, never mind. Okay, Dane, what's on the news this week?
57:25
Damian Dunn
A nine year old from Snoop Dogg's Youth Football League has landed a six figure name, image and likeness deal with a sports agency, becoming the first person from the youth league to do so at such a young age. Galley wadud Jr's. Father galley wadud SR Shared the news with KTLA, describing his son as a standout nine year old athlete who excels in football, baseball, track and karate.
57:51
Peter Dunn
It's karate.
57:52
Damian Dunn
Well, sorry. It's kind of surreal, wadude SR. Said while describing the moment his son signed the deal in print with a Dixon Taekonderoga number two pencil. It's humbling and exciting for the agency to see his potential and want to manage him. Pete, nine years old, $100,000.06 figures? Not even 100.
58:13
Peter Dunn
I don't know.
58:14
Damian Dunn
Six figures? What in the world could possibly warrant that kind of money?
58:22
Peter Dunn
Here's the thing, Dave. You and I both have been nine years old.
58:25
Damian Dunn
Yes.
58:25
Peter Dunn
You and I have both coached nine year olds in youth sports. Sometimes the margin of excellence holds, and sometimes, most frequently, it fades. Within two to three years, bodies change, hips widen, shoulders slump. Like man, that is way too early. Now, if this is a story about an 8th grade high school receiver, okay, yeah, I get that. A third grader, though. A third grader I don't go into like, this is the sign of the apocalypse, or, look, hey, if you can get that bag, if you can get the money and you can convince someone that you were someone that they want to associate with on the surface, I have no problem with that. I would say to the people who invested that money, unless you're doing it for the attention of investing in a nine year old, that's a ridiculous investment.
59:26
Damian Dunn
Do you think it even puts too much pressure on the kid, though, at that point. What are the chances?
59:31
Peter Dunn
Interesting.
59:32
Damian Dunn
What do you think this kid's a college athlete? What do you think the chances are?
59:35
Peter Dunn
Well, I was a college athlete, so it's not that hard.
59:38
Damian Dunn
Okay, that's fair.
59:38
Peter Dunn
Okay, so I would say there's a pretty good chance the kid's a college athlete, but even then okay, so this is where I'm going to get out over my skis. Down at the University of Miami, there are twin women basketball players named the Cavender Twins. Do you know of the Cavender twins?
59:57
Damian Dunn
No.
59:58
Peter Dunn
So they have one of the top five highest grossing nil deals in, and they're okay. Basketball players. They're better than you and me, right? The Dunn twins versus the Havanger twins. We would lose. But it's really their social influence, and I don't mean that in a negative way. They are influencers, and so they are providing value. They are successful because of the brand they've created. And so, Dame, does a person have to for this young man to be considered successful, does he have to go pro or does he have to just provide a living based on what has been created? And I would argue with the Cavender Twins, and I believe, and I don't follow them that closely, I would believe they actually signed a WWE contract. I believe, and that might have been speculation. They were going to, maybe they didn't, I don't know.
01:00:57
Peter Dunn
But they're leaving college basketball still with eligibility to take advantage of their popularity, which, hey, I'm an old fuddy daddy, but not that much of an old fuddy daddy. That's fine, because it actually led to something. But as a nine year old, will this kid will this lead him to an influencer path, if that is maybe the goal?
01:01:20
Damian Dunn
I remember a trip that you took with your family one year, and you said that within the first couple of minutes of being on the ground, they're like, I'm just looking for the influencers. That's what I want to be. We both laughed and rolled our eyes. We're like, I can't believe that. And every day it seems like it's getting closer and closer to a realistic option for definitely not everybody, but for.
01:01:46
Peter Dunn
Some, you know, here's the weird. Maybe this is an off there conversation. What else is in the news? What else is in the news?
01:01:55
Damian Dunn
Competitive fishing is incredibly lucrative. But last week, a pro fishing crew lost out on winnings of more than $3 million, all because they reeled in a fish with a bite already taken out of its flesh. Officials from the annual Big Rock Blue Marlin Tournament disqualified the 619.4 pound blue marlin due to, quote, mutilation caused by a shark or other marine animal per MPR. Had the fish qualified, the crew would have split a massive $2.7 million pop, plus a $739,000 bonus for the first team to snag a marlin over 500 pounds.
01:02:33
Peter Dunn
I have several notes here for you. First the bird noises coming out of your studio today are insane.
01:02:40
Damian Dunn
Really?
01:02:41
Peter Dunn
Yes. Crystal clear blue jay, I think second sorry.
01:02:48
Damian Dunn
That's right there.
01:02:49
Peter Dunn
This is the second best fishing story of the year as we've got weights in fish is the best story of the year. I saw a picture of the bite of this marlin. Oh, have you seen it?
01:03:04
Damian Dunn
No. Dude.
01:03:06
Peter Dunn
Completely unfair, man. Completely. It was really, all things considered, a nibble. And how is that? Are they suggesting that the fish was somehow not able to fight its full power because it had a nibble out of it, when in fact the shark if you've ever gone deep sea fishing, the shark probably bit the marlin at the is it's terrible. I feel very bad. And those are my hot fishing takes for the week. Dame, when Kristen's back next week, we will probably talk more about student loan forgiveness, given that you and I just got to speculate for 40 minutes today because she's the expert and she's not here. So we'll do that next week. For everyone listening today, thank you. And we're sending you good vibes because good vibes are all that's in the budget. I'm Pete the Planner, and this is the Pete the Planner show.
01:03:59
Peter Dunn
Yeah, you got to see that picture. It's pretty wild. Pretty wild.
01:04:05
Damian Dunn
Wonder if Crisp isn't working right now because there's no way you should be able to hear that.
01:04:09
Peter Dunn
Okay, anybody listening to the show still that has not abandoned ship. Can you hear Dame's bird sounds?
01:04:21
Damian Dunn
The world will never know.
01:04:23
Peter Dunn
Well, no, you turned on Crisp now, didn't you?
01:04:25
Damian Dunn
No, I didn't do it.
01:04:27
Peter Dunn
Oh, Andy hears the birds. I wonder if Andy and I are just losing it. We hear the birds. Jeremy says yes, but not too loud. Well, he's got a pilot's know, that's the thing, though. He's just got, like, Jennings rotting through his ears at all time. Jason hears I don't know.
01:04:46
Damian Dunn
I'll try and figure something out. That makes me wonder how many other noises.
01:04:51
Peter Dunn
Yeah, maybe you shouldn't have had chili last night. That's all I'll say. Danza says she gets an occasional peep. That's how I feel on Easter these days. I'll just have one because they're so sweet. It is peaceful. It's like Zippity Dooda is sort of playing.
01:05:10
Damian Dunn
Yeah, I don't know. Sorry, everybody, for the distraction.
01:05:15
Peter Dunn
You know what's weird? You and I are about to leave our studios. Some of the biggest financial news to happen in decades just happen outside of our studios. And although we talked about it and experienced live together, I feel like I'm going to walk through that door and I don't know what's on the other. I mean, I'm serious. I don't know where the rest of my day is going to go. I don't have my email pulled up because I could be on the news the rest of the day is what I'm saying. I don't know what's about to. Happen.
01:05:42
Damian Dunn
I already know. I have to write a couple of things.
01:05:47
Peter Dunn
My gosh. All right, I got to go, dude, then. Thanks, Dan.
01:05:53
Damian Dunn
Thanks, Pete.
01:05:54
Peter Dunn
Everybody else stay getting money.
