How America’s Debt Will Lead to Hyperinflation...

The US government is going to have to pick between inflation and deflation in order to deal with the debt crisis, and it's going to pick hyper inflation. You think, so, yes, Well, I don't know, Like it's interesting, like because first of all, those aren't the only two things, deflation or hyperinflation, right, So things can be inflationary as they are. So think about what's deflationary? A new car, computer, right, There's all kinds of things that are deflationary. So you can have I think George Gammon gave me the best example. He said, you think of a hot air balloon that's going up. That's inflation, and then you have a hole in it that's deflation. So doesn't you can't doesn't have to be just one thing that makes sense. So what do you think would hyper inflate? Well, I think we're going to have what I would consider to be long term elevated inflation. Well let's talk about what hyperinflation is. Okay, So hyperinflation the actual technical term is fifty a month. And is that what? That? What is Jerry? So yeah, it's fifty a month. It's it's fifty percent inflation a month. That's hyper inflation. Now, that's Zimbabwe, Yugoslavia, Venezuela, Argentina, Brazil, Nicaragua, Peru, Lebanon, like those are just some of the ones in the last fifty years they've experienced hyper inflation. So do I think the US is going to experience that? I do not, least in the short term. Could they, Yes, but I think that we're in for a period of elevated inflation. But if it gets away from them, it could definitely hyper inflate. Because no country ever sees hyper and coming. It just think happens, and it hits well. Right, because I did a little research on this, and I love this one quote, no economy can overcome math. I love that right all right because one of the things that I looked at and where is it? Oh, guess how much this is crazy? Guess what the monetary expansion for the US dollar has been since nineteen seventy one? What percent? Anybody type it in? What do you think the monetary expansion percentage has been for the US dollar? You're gonna have to tell everyone because no one's going to. Know that eight thousand, two and fifty percent. That's a fact. So that's actually what we're talking about here. You know the expansion, you know, printing in all of those cases. You know, if you go back and look at like like weymar Germany and you know Hungary and Mexico, let's say, because and mex goes a little different, but they value the peso. I remember that actually in the in ninety three and then NAFTA of course ninety four. That's interesting. NAFTA is the North America Free Trades Agreement. But you know, you start to look at what happens during this period of time, and I think that's actually what I really want to discuss. I know you do too. If we're in a period of high inflation or a period of hyperinflation, what can we do well before we at. That, we need to break this down more for people. Sure, just jumping ahead like always, I love it. So anyways, Sterry, can you bring up the debt clock for the US right now? We are thirty six trillion dollars. Upper left, guys, look at that, definitely uprising. By the second. But I think the biggest thing is that this used to be a major talking point, you know, balancing the budget. Jerry can pull it down was a major talking point for the candidate for the election, Right, Neither Harris nor Trump was talking about balance. They can't budget because they can't be balanced, right, So you know, under different estimates. You know, Vice President Harris was going to increase the federal spending for four trillion through twenty thirty five, and President Trump it was like brilliant And granted, now, some of these policies were to then hopefully stimulate more economic growth. But Obama added to the national debt. Trump added historically the most of the national debt, and then Biden added more than Trump. So every year they're adding more and more national debt. Right, And Jerry, if you could bring up the first chart the growing national debt. Love that debt clock. So if you're looking at this, I mean, look we have now it's even more than you know it is on that running debt clock. Take a look at that, Jerry, that's insane. Yeahs, So guys, like does it matter, Like hopefully you guys aren't getting ultra political here, because let's just this is a shot of the past. There's red, there's blue, all part of this, all right, So and we can point fingers and all that stuff, but the end of the day, the US owes things right, we owe for entitlements. We spend a lot of money during the pandemic, right, rightly so right or wrong? But we did. And then now we're funding wars and there's all kinds of things. And as you start to take a look at where we're heading moving forward, you have to consider this. You have to consider the fact that we owe as as America, ages, we owe, we owe money for Medicare, Medicaid, we owe money for Social Security. You know, these are things that we owe in addition to that. Don't forget about infrastructure, right, don't forget about defense spending and all these other things. Just like you guys have a budget for the way you live your life, for your business or for your whole the US has a budget and what and there's lots of light items on there. Well, and I think the biggest thing, and this is going to tie into what we're saying, so you have to think about all this. So, the biggest income generator for the government is individual tax, right, that is it? That individual tax is very important for the government. Right now, we will collect this year about five trillion dollars in individual taxes. Do you want to pull up that chart that Jerry had up the one that you made. Jerry, sure, right there, But we have spent seven trillion, okay, so. On the left of receipts. Yeah, so we have collected five spent seven. So just right now as it is, right now, we're losing two trillion dollars a year, and the things that we're spending money on we can't really cut, you guys, the problem is we can't really cut the budget. Like it's Social Security, it's Medicare, Medicaid, it's interest on our debt, it's national defense, and you know these other things are just smaller things. But we can't really cut any of this stuff. Like it's not like we're needlessly spending like people live off of this money. So how are we ever going to balance the budget? And the truth is is we're just not. We're just going to keep printing money to pay for the budget. Because to Ken's point, you know, he had asked me, do we actually really pay our debts? And we do. We print money to pay our debts. So we're printing all this additional money to pay this negative balance we have. Let's keep this up real quick, Jerry, I think it's important that people understand, like let's bring this down to your own situation. You know, if if you just dropped a couple zeros right and and you made forty nine two hundred dollars, let's say on the left total receipts, and you are spending sixty seven thousand, that's that's that's how you look at right. You know, you know what you're making on income is not covering expense. And so this is what Daniel's saying. At the very minimum. Now, this does not include a lot of stuff. And that's why that deck clock was important. You're a two trillion So let's. Be the devil's advocate here. You know, you hear a lot about taxing billionaires. You know, let's tax billionaires. So Jerry, can you play that YouTube video? And a lot of. People say taxing billionaires could solve our problems? Would that really work? Seizing every home, yacht, business, and investment from America's eight hundred billionaires would fund the federal government for just nine months and then the money would be gone. So what your four oh one k, Given that most of this wealth would be seized from the stock markets, causing the S and P five hundred to creator there simply aren't enough millionaires, billionaires and undertext corporations to close Social Security and medicares projected one hundred and twenty four trillion dollar cash shortfall over three. Decad Understand that one hundred and twenty four trillion is over three decades. What we were showing you was one year, right. But I'm just saying so, like everyone always goes to taxing the billionaires, right, because that's an easy thing for politicians to say, we just need to tax the billionaires, we need to taxt corporations. But the truth is is, like, Okay, you know, we tax the billionaires, how much does that really actually help us? Because we're too trillion a year negative And it's not just too trillion. It grows every single year, so it's not like, Okay, we're just too trillion forever, like, No, this is exponential. It builds on top of each other, and so as we increase spending, we're going to increase this two trillion too even more every single year. And that's how you're starting to get this runaway inflation. And the only way to fix this problem is to cut, right, like cutting social security, cutting medicare, having a recession, everything else, But we go back to if we start to if we have a crater in the economy, then the federal government doesn't get those income taxes if people aren't working, so that puts us more to deficit. So you have to kind of look at that is like, you know, we need we can't afford for the S and P five hundred to crash because a lot of our tax comes from the money people are making it. That would be a disaster. Guy, right, like everything is going to be inflated. Back to kind of the original point was which way will it go? Things can be deflationary, so housing prices can come down in an inflationary economy. You know that can't happen, but you can't. You can't your whole hat on it, you know. And and on the billionaire seat, that's that you know, that's that's a political hot potato that I think they use and it resonates with the middle class. I completely get it. But you know, it's gonna be interesting to see what Trump does with that because think about where think about where almost other billionaires are. They're on the coasts, and the coasts are predominantly blue, right they are, like Seattle will jump over Oregon down to California, but certainly in New York. So you know, I'm not saying that the billionaires are blue, but I'm saying the states are. So you know, it's gonna be interesting to see. I would imagine there's going to be some taxing, you have to, you know, there's gonna be there's gonna be things all over the place. He also said that he was going to try to cut out of the government spending side. That's another obviously low hanging fruit. But again to your point, we just need to get to that point where we're the revenue is paying for the expense, but we're. But we're not going to know. And then that's the thing. And Jeff on here he said we can cut some but still grow, and we can. But no politicians talking about cutting not one. They're not talking about cutting spending. That's not a talking point for either side right now, because we can't really afford you know, think about just even the households right like everybody's pinched right now by inflation, I mean really pinched, working two three jobs. Can they afford Can we afford to go through a recession? Can we afford to have people losing their jobs, No, because we can't afford that as a country, and then the government can't afford that either because it needs the tax from people working. Right. It's true, right, And so's that's why I still believe that we're going to see this extended, long term elevated inflation. I think that we can't. I mean, it would be an administration's nightmare to have either deflation, which would be probably the nuclear bomb, or elevating inflation, and they're going to continue to regulate it with interest rates and the ways they have done that. I think it's interesting. You know, you had to hit on that. Zimbabwe hit hyper inflation in two thousand and eight, Germany had it after the war. But right now there are fifteen countries experiencing hyper inflation at this time. So everyone always thinks that it's like this thing that won't happen, you know what I mean. You're like, oh, whatever, hyperinflation, that won't happen, And the truth is it's hitting a lot of different countries. So whether we have hyperinflation or just mass inflation over the next few years, the strategy doesn't change. So I thought by what might be interesting is pulling up on YouTube people from Argentina because they've been hitting hyper inflation for a while now and I wanted to see what they're doing in their country to maintain wealth. The first thing is, don't worry you're energy birst. We are very, very worse and we survived. First advice. Second advice, perhaps five things. Us to with a mettle kiss, frondamental Phara loos, americanos, tom inverted, no no, and don't don't leave your money resting under the coach because he's selfless. From my point of view, is to buy things, actually a house, a small house for rent. Take advantage of a atility. Keep in mind that you have to be like really aggressive with opportunities because inflation makes the market moved really really fast and all the time wor atility is too high, so you're gonna find very good entry points. This guy just both war Ferrari. It's interesting, right, these are real people with real experiences with massive inflation. So what points do we pull from that? Yeah, well, there's a few things that that I pulled. Number one is currency is worthless, right, and it certainly was that case. About what actually does rise are any kind of assets. So in other words, a couch is more important than the cash. That's interesting, right, yeah, because the couch, like as cash, is worthless. So he said, you know, but the other thing is, you know, things, things, things that move with inflation. Things get more expensive with inflation. The one thing I loved, obviously when the woman was talking about rentals in real estate. Of course that's where we sit. But what I really want you to understand is when in periods of high inflation, what happens to debt. So this is a really you got to wrap your head around this. So let's say you have a five hundred thousand dollars home and you have four hundred thousand dollars in debt. You have one hundred thousand inequity during inflation, and that house, let's say goes up to six hundred and seven hundred eight hundred, you still have four hundred thousand in debt. On hyperinflation, you still have four hundred thousand in debt. So your debt becomes easier to pay off with inflated dollars. That's what hyperinflation does. So that's why, because the country's getting in debt, you want to be in debt. Oddly enough, fixed debt by the way, thanks, Yeah, fixed debt. But how about those so correct and those payments become easier because obviously you're going to make more money at work. And we just saw this in the last four years, right, like everyone got raises at work, but certain people are still more pinched. Well, who are the people that were pinched? The people that are renting, people that are owning, They got to raise, their mortgage stayed the same. They have all this extra money and that's because they own this asset with fixed in on it. But what about those people that can't afford it by home, right, because we don't want to exclude them, because there's a lot of people right now, like, well, if I can't afford it, buy a home. This is pointless to me. But I liked what the last guy said, and he was mentioning market latility, and that can be crypto, that can be the stock market, that can be anything, because all these people don't want to hold onto cash during times of high inflation. The wealthy people don't want to hold onto cash because, like that guy said, it's losing money underneath your couch, like every day loses value. So they're investing it. So where are they investing it? They're investing it in the real estate, stock market, in the crypto market, and gold in those kind of things. So even if it feels high, if you jump in, what he was saying was, don't be afraid of the volatility. You have to get in. You can't just hoard your cash. You have to invest it, and you have to take that risk because these markets are going to keep going up, up and up, because the wealthy are investing their money. Every one's investing, nobody's holding money. And right now that's hard for us to understand because we have us dollars. But if we keep having whether it's hyper inflation or massive inflation, over the next ten years, your money that you're saving isn't worth anything. The other thing is you, guys. I would encourage you to jump over to George Gammon's channel and take a look at He actually took gold, silver, him and Josh gold silver, bitcoin and some American dollars and they drove through our Argentina. It's fascinating videos. Just take a look, and here's what they found. They found that nobody wanted gold, nobody took it, nobody took bitcoinings. In fact, he said all the bitcoin cafes that they thought that they were there, weren't there. It was all fabricated. There weren't a lot of people that were taking bitcoin, at least that's what they found. But everybody wanted US dollars. And I said, what kyie goes twenties, not fifties, only hundreds. But that's because the US dollar is still a reserve currency and it's still but that's going to change as we inflated away, like that's not going to be the same. Ten years from this is just Argentina is that they wanted. And the point is, I think that's what's interesting is one of the things that another country can do is they can get out of their dollars into another currency. And that's actually what they're doing well. And that's what Maniac just said. It's they decided just because somebody doesn't take bitcoin doesn't make it worthless because you can convert it to those dollars, there's still value. You're right, You're right. So the other thing I do want to point out, there's another phenomenon going on. If you guys think about this, you guys all love Amazon just as much as we love Amazon. Okay, there's an overwhelming majority of things that get made out of Asia, China, out of the country on Amazon. So we technically are export inflation to other countries by paying for those goods and services out of US dollars. So a lot of the US dollars that we're printing actually are getting exported to other countries. And I haven't actually taken this all the way down, but it's interesting that a lot of the other countries right now are experiencing this high inflation because you know, we're not the only one, but we are a massive, large, world consumer of goods and the world is you know, providing us with those and we pay for those in US dollars, and so as we also print it affects who is ever holding those dollars in those other countries. Kind of to your point about what you said. So the question is, you know what's currency is deflating faster, like is it ours? Is ours devaluing faster than Argentina? The answer is no, So they jump into the US currency. Also, you could spend you currency in all kinds of places. It doesn't solve for the fact of where we're. Headed, you know, it doesn't. And Jerry, if you can pull up that government sites on the budget and this is from you know, this website, but also this other one. Oh not this Jerry, the article and the budget. But it's interesting because these things are coming straight from the government. So this is from the government site. It says budget deficits that grow faster than the economily ultimately become unsustainable. Is the government attempts to finance its interest payments by issuing more debt, which is what we're doing, the rise and deficits accelerate. That in turn leads to a vicious cycle on which the government issues ever larger amounts of debt in order to pay ever higher interest charges. In the end, the cost of servicing the debt outstrips the economic resources available for financing those expenditures, and that's when you start to have hyper inflation. So so here it says taxes must be raised or spending must be reduced or both. Because this was from fifteen years ago when they were trying to balance the budget. Right now, that doesn't seem to be a priority, right. And if you know, how do you get around this guy? So how does the common person look for a store of value? Because that's actually what we're looking for. What's the store of value. Is money a store of values? Is savings a store of value? Arguably? No? Not if I just take a look at if you had ten grand in your bank two years ago, does it buy you the same goods and services today? Period? And if the answers know that, it's not a good store of value? So what is a good store of value? And I would say anything that's non perishable other currency gold, silver, of course. You know, this is precisely why bitcoin and I there's a debate on well, I know, the bitcoins. There's a debate on whether or not it's a store of value or not. Bitcoin. You know, we're not gonna go down that road today. But you gotta wonder why is bitcoin on a run right now? Because people are concerned about being in cash that's valid? Well, and I also think it's on a run because anybody can get into it because like a lot of people on the channel are saying, I can't afford to buy a house, they might not be able to afford to buy a gold coin, that's you know, but you can buy just a little bit of bitcoin, right Look at that, and so you can buy twenty dollars of bitcoin, you know. So I think That's partially why it's on a run, is because people can invest in any Go back. To what you're unit, Jerry, can you do that. Let's say, if we're gonna I'd love to see that you're to date. Look at that start under fifty. Well it was at seventy four less the other day, So it. Looked in this period of time, clearly, if you've been in bitcoin, you've done really well. And you got to wonder why. I think people are starting to wake up to inflation and the cash that they have is buying less. The rays that they got is in covering what they need. Expenses are going up. I know, Danil's like I've told a story before, but Danil tries to pretend like she's such a great chopper in the grocery storvery time. But she has the same fifteen things every time, and so it's pretty easy to see that your grocery bill is double. Yeah, groceries are growing up. Everything's going up. I mean, I don't think it's just groceries, it's just everything. And everyone is very squeezed. I'm in a lot of forums and people know that they're squeezed. And what we're trying to do is teach you guys how to you know, maybe in a better position five years from now than the average American. And that's going to be with not saving your money unfortunately, Like you know, you need to invest it in something, whether it's real estate, whether it's gold, whether it's crypto, whether it's you know, anything a small business, like just holding onto your money. You've heard those people in Argentina like you don't do that, and don't be like the last to know. You know, they all understand this now because they've been dealing with hyperinflation for so long. But don't be the last to know. Don't be the last to get there. Get there now, because you know, if there is a great melts up and everything is starting to increase in price because the wealthy need to put their money somewhere, then of course home prices are going to increase. Of course, school's going to increase. Of course crypto is going to increase. Of course, the S and P five hundred is going to go up. Don't be the last to know, because you're sitting here right now waiting for some crash, and all the signs aren't pointing to a crash. Because the wealthy need to store their money, and the only way they can do that is by investing in all this stuff. Right, So don't be sitting there the last to know, I don't want to buy a house yet, or I don't want to invest in bitcoin yetto I don't want to do the S and P five hundred right now because it all seems really high, because we're telling you that's just not the realization of this market with this high inflation. Yeah, if you guys are sitting in cash, you're falling behind. Let me say that again. If you're sitting in cash, you're falling behind. Period. Okay, because even the FED on their own website says that their targets two. Now they're saying it's in the threes. But who knows. But let's just look like the house I we're in right now. We built fifteen years ago. We built it right, and I built it with a construction load, and I've lived in it the whole time. And guess what, the house is worth a lot more and the debt I've basically paid it off. But it was a long time ago. It's fifteen years ago. Magine what was now? The house did go up and down in price just like yours, just like a lot of people. But a lot of people think real estate investing is really really difficult. Just let the economy do its thing, you know. And when there's a lot of people that have done really really well based on inflation, what it's done to real estate, it's luck, it's timing. Now you can certainly purchase incorrectly as well. And that's the whole point of this channel, is to make sure that you guys are cash flowing. But I bought stuff that's gone down in value. In fact, I built the house in two thousand and eight, two thousand and nine, right right around the crash time, and I was already under construction. Did I want to crash, No, But it happened right in the middle, and my house value went down. But it was my house, so I just lived in it for a long time and at some point it broke even I don't know what they you know, well back to what I thought was going to be, and now it's way above. And the result is not because I'm so damn smart about my own primary residence. It's because of inflation. Empillars that on YouTube. Money needs to keep moving. It's a cycle, and so put your money in a good cycle. In all the years I've been coming to one O FI day, So the biggest change is always the money. In two thousand and five, my rent was three hundred and sixty pass. In twenty twenty two, I could buy a coffee for three hundred and sixty paces. Now in twenty twenty four, a cup of coffee costs three thousand, six hundred paces. So I thought that that was pretty pivotal, right, So, like, and I know they have hyper inflav and whether you're not, I think we're going to get hyper inflation or we're just going to get massive inflation. Either way, a cup of coffee equal to rent within like ten years, and then now a cup of coffee is like one hundred times what rent was. So the point is is that if you're investing now and you have a mortgage and it's three thousand dollars, right, and you're like, that's a lot of money, is it going to be a lot of money in ten years? I think it did the Dave Ramsey advice, you know, just cut out that cup of coffee and you'll be fired. So this is for site to the thing guys, like you have to just take a look at the expenses the government has in front of them. Okay, yes they'll be taxes, and yes there'll be all kinds of things. And they're going after us for property taxes and personal tax and corporate tax and all that kind of stuff. That is one piece of the revenue. Of course, that's always going to be up for grabs. But the expenses, you know, the fixed incomes of a lot of people. I always bring up my mom, but my mom. I was telling Daniel this. When my mom fell during COVID and got hurt and had to have an operation, and so we put her into an assisted care facility because she needed twenty four to seven care and actually she now loves it. But the point is, so we rented her house and at the time, her house covered her expenses, so which was cool. The house that I grew up in, she still has the rent covered her monthly, so she was happy. Net net now it's a thousand underwater a month because their costs have gone out at the facility, right, so now the rent doesn't cover the expenses, so it's starting to make its way into the labor costs, the food costs, and you know, utilities and all the things of where she's staying. Now, she's obviously gonna be fine, you know, the family's taking care of her. But the point is those are real things, and that's what people are starting to recognize. And that's why I think people that's why people are starting to blow up gold. Gold is what was it last It's like, uh, is it twenty seven hundred something like that, you know, And that's that's that's really really high. Silver's in the thirties now, Bitcoins going crazy, and it's a result of this money printing machine that we've got. Well, and I do think that it's interesting. StarPath just said that he he or she lived in Romania in the nineties and went through hyperinflation and bread was one run, which I guess is their currency, and then within seven years it was ten thousand runs. So even if we don't have like the matt like that's with hyperinflation, right, but say we just had a tenth of that, Say it was one run and then it went to a thousand run like or one hundred run like. That's like a big difference. And the rent is going to do the same thing. Like I didn't ask them, but I'm sure the rent went up as well massively, And so if you own assets and houses and things and items, that inflation's not going to affect you because as much as much because that two hundred thousand dollars house or four hundred thousand dollars house she bought is now eight hundred thousand dollars, right, versus if you just had this money in the bank and you just put it into savings and you just watched it dwindle away. So I guess the whole point of today is for you to understand that if you were waiting for the market to crash and sitting on a bunch of money, then that's not a good strategy right now because we are having inflation and every day that money you're sitting on is worth less and less. Yeah, just google this guy. It's the same thing we did get in prepared for this. If there's high inflation, what should I invest in? Period? And there's going to be multiple examples on the internet, but there's always the core four to five, always right and do that because we just want you on the right side. If you're sitting in cash, you're going to be in big trouble. Yeah, And it's definitely not a political issue, and don't make it one, because it doesn't matter if it's under Trump or it was under Harris, or it's under whoever runs into it, well going to spend, They're going to spend, and it's just a vicious cycle we're having inflation. I'm sure different administrations have different ways of handling it, but it's still going to be an issue, and this advice is still going to be relevant. So anyways, let's hop into our questions for the week. All right, So our first question comes from Eric. He said, what is the big thing that makes a difference between a deal that works and one that doesn't. Oh, so many things cost a capital so number you know, think of interest rates, right, So a lot of the people that are going down right now had a lot of floating debt, so the cost the finance costs or OPM or other people's money, for sure. The other thing is cash flow. So what you always want is fixed rate with cash flow because then it doesn't matter. It's kind of like my home that I just talked about, you know, when I built it, so I got a construction loan to build it, and I knew what my monthly payment was. The whole time. Now the value went up and down, it didn't matter because I was good with the monthly payment. So that is for sure. On the value adds side, that's what really starts to get exciting. So perhaps you're buying a business and you put in better systems, better sales programs, or there's chances to merge or roll up and stuff like that. So a little more complicated. But I'm not afraid of buying something that's broken. In fact, I've done probably my best work when I find something that's broken, whether that's a business or real estate, and what does that mean. That means it's lender owned or really poorly managed, or heavy vacancy or a lot of expenses or whatever it is. You know, and I think, so you want to find that, but you have to have the technical skills to be able to pull that off, or the team and then you can create what I call force equity. So you know, not all deals are the same, but very rarely. Again, what I always tell people is, no matter what deal you have, there's always somebody with a better plan than you. So that's why I always say, what I look at a deal and I pass, and then somebody buys it, and then they do something I ever thought of, and I just look at my partner Ross, I go, they had a better plan. So it's always the plan. You see the deal before you buy it. So our next question, and those listening on YouTube, make sure you ask the questions. I'll try to get to one or two of them. Nina is asking, can we have inflation and rents still go down? Yeah, of course, yeah, you bet. It's actually happening right now. So the reason rents are going down are flat. And I'm talking generally, okay, I'm talking about the United States. So there's the last thing I looked at there was like ninety metropolitans. Okay, So when you look at Phoenix, there's fifty sub markets underneath it. Some are doing well, some are not doing well, Some are overbuilt, some were not overbuilt. So you know, so this is a big, big general overview. But rets generally are flat right now. So everyone agrees with that, and just go type that in National weal To Housing Council, National Department Association, realtor Zillo. They would all say rets are flat or down now, maybe not in your market, but the fact is, and the reason is is a supply problem. So and it's temporary, and we keep talking about this. There's anything that's being delivered today in twenty four, started in twenty one, twenty two period, right, and so there's all the supplies hitting and you know, we'd like to call it the pig through the python, right, like it's just moving through the python and eventually it'll all get absorbed and it's it's it's gonna it's gonna do that. At the same token, we also have had inflation, so inflation is a little bit different obviously. So so yes, you can have rents go down while there's inflation, for sure. Yeah. Absolutely. And so this is an interesting comment I want to address from YouTube. John says hyperinflation is not possible with the usd Reserve. Yeah, a lot of people say that, Yeah, it's you might not be wrong. That's why. That's exactly why I said, I think it could be a long term elevated inflation number as opposed to hyper You know, we always have that we are the world's reserve currency, and we have the Central Bank, and you know, and a lot of our dollars get exported and that's going to change under Trump, so you know, right, So at least, you know, going back to his other four year term. So we'll see, we'll see where that goes. The world is not happy with the US what we're doing with the US dollar. Let's just put it that way. Yeah, the world's not happy we're inflating it. Does that mean we lose it and it goes to bricks? Probably not right now, I mean not in the near future. But you know, if we're inflating dollars and people are The reason people in Argentina want US dollars is because the currency is not inflating as fast as their currency, right, but they're in hyper inflation. The rest of the world that's holding US dollars because it was a safe spot is not going to be happy if they're dollars that they're holding our losing value. So what does that mean, Well, it's unprecedented, so we don't know. That's what George Gammon calls a yearal dollar market, which is it's not measured how many dollars are actually outside the US A lot, right, And that's a I don't have the technical knowledge, it's above my pay grade, but I do know it's a lot. Like you think about how many dollars we pay outside of the United States. It's a lot. Yeah, absolutely all right, guys, thanks for joining in, and we'll see you next week. See you, guys.