The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Friday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN 9.06 AM Eastern time Friday. We've got about 24 minutes to go until the start of trading and we have all the markets catching a bid from where we were last night, where we were the close yesterday. Negative action in the S&P across the spectrum this week coming into the close yesterday quite the acceleration really coming into the close most of the day. You look at the S&P yesterday we start the day early in the trading day about 10.30 you make a high almost at 45.30 we'll call it. You're talking about 50, 5.0 S&P points you trade from the high at about 10.30 yesterday. We make a low just after the close last night we'll call it 7 PM Eastern time. The low there 44, 79, 25 or positive by about 19 points on the session right now 45.01 in the S&P's. Tech stocks a little bit of a different story. NASDAQ have been catching a bid when the markets had been fault during a little bit this week a little bit stronger than the other indices as has been the case. And yesterday though you got to sell off in the tech stocks but we're getting most of it back so far today. You're back to where you were before that sell off at about 1.15 almost in the NASDAQ 100 you see bumping up against that level right now. We're talking about 66 points in the positive almost half a percent for the tech stocks 15,617 the Dow had tough quite a tough week. You start things off at about 35,500 you trade down about 750 points to the lows last night. Now interesting you look at where we were in the Dow yesterday right in terms of early early overnight action you have the Dow at about 34,000 technically the low there 34,776 we get within 30 or 40 points of that price level overnight and just like that we're back up about 200 points in the Dow 34,921 the Russell positive as well by about nine points 2255 we got crude catching a bid look at that acceleration man this crude market volatility you could definitely be playing this on both sides of the market yesterday I was talking about my program from nine till 11 I did the noon eastern time update I believe it was and I said man remarkable that you got basically two dollars movement down two dollars movement back up and I didn't see it but guess what two dollars movement back down and then two dollars movement back up all within the span of about we'll call it 25 hours as that began at about 815 a.m. yesterday think about that right within 24 hours you're getting a two dollar move down two dollar move up two dollar move down and we get it all back overnight to 69 78 we're climbing towards that $70 price level in gold excuse me in oil gold contract just kind of sputtering along between about 1795 and 1805 golds down four dollars this morning you got silver down six pennies at 24 12 notes and bonds got a little bit of lower price and higher yield you got the tenure up two basis points 1.326 percent we'll call 1.33 percent in the tenure and let's jump over to the VIX as this market comes into the opening bell with gains we got a VIX pairing some of the action of yesterday we're sitting at 1747 right now all things considered you're talking about right near record territory putting the S&P on a daily basis I've talked about this trend line a couple of times on my program if you've been watching whether that starts from November 1st pretty well defined channel line when you look at the upper boundary line matching up the lower boundary lows correlating to where we were in March where we began in November those lows ticking across pretty pretty just awesome how they line up whether you look at the June pullback the July pullback the August pullback now we're getting a slight September pullback in the S&P's you're talking about a price level about 44.60 right near that level on the low hand side of the S&P's NASDAQ a little bit of a different story you go from where we were in November 1st where the market really takes off you make a low in March you make a low in May you take off to the top side NASDAQ kind of sputtering over the top here we're talking about how many trading days is that we're talking about eight trading days that you've had the NASDAQ just kind of chopping around above 15,600 or so we're sitting at 15,617 right now in those tech stocks all right what else we got going on let's talk a little macro here more strategists say a storm is brewing in the US stock market and it doesn't mean folks that the economy is in trouble it just means valuations in the stock market are getting a little bit out of control here global stocks may be entering a period of turmoil quote unquote is one of the quote strategies from almost all of the top Wall Street banks have come out this week with a nervous message about the US stocks I think was Goldman that started things off with a revision of GDP but the latest is Deutsche and Goldman Sachs there you go echo earlier announcement maybe was Morgan Stanley city group Bank of America and the risk that the correction is hard is growing that's a Deutsche Bank equity strategist including Binky Jada valuation corrections don't always require market pullbacks but they do constrain returns you know take that for what you will folks this is the valuation on the S&P 500 remain elevated this is a price to earnings ratio you're talking about quite an acceleration here you're back things up to where we were in 2010 11 you're talking about 20 to 22 times I think that number represents in terms of I think that's a forward number potentially even on the price to earnings ratio in the S&P a couple of quotes they have in there from from the analyst equity valuations at the market level are historically extreme and almost any metric you know I love combining fundamentals and technicals folks and you look at some of the fun you know technicals you look at the NASDAQ 100 I tell you the run this thing is had even from May folks you will from 13,000 to 15,616 you're talking about a run of 2600 points the NASDAQ is up 20% just since May the NASDAQ 100 think about that okay now the NASDAQ had lagged behind when you take a look at the daily we'll line things up to where we were calendar year you were flat from January to May in the NASDAQ 100 you compare things on the S&P 500 um find the year end here's our year you go from where you were in January to May right January you kick it off at 37.50 about you find May on this chart the lows there you were up at above 4,000 okay so you were up almost 10% coming into that number the NASDAQ has really accelerated from that May acceleration but we were in we were flat coming into that so I mean in that time you know what's happened in terms of if you've been watching the market company like Apple has gone from a price point of 123 to 154 you've had Google shares even in that time you look where May you were trading at 2213 we're pushing 2900 right now Microsoft another big one during that time you have a run in Microsoft from 238 to 297 some of these just a healthy pullback you see Microsoft chopping around above 300 that are there abouts a healthy pullback 280 that's a that's a $17 drop in Microsoft shares you talk about a healthy pullback in Apple what are we looking at let's put it right just from June just from where we've been in June talking about potential 382 retracements I like to kind of keep my eye on I mean that's totally in play and look where it lines up it lines up to just kind of the lower boundary of this maybe that's an area support 144 50 about call it 145 in Apple you could see a pullback that's a $9 pullback in Apple I've talked about it I'm pretty sure we got about 16.7 billion shares outstanding let's pull it up we got to get to the fundamentals tab it's loading 16.5 billion shares you do nine nine there you're talking about 135 billion dollar market cap hit just if Apple pulls back to this 382 retracement valuations are just crazy right now especially on some of the tech stocks going down the line on some of the quotes here because I think it's important to keep your eye on folks especially if you're you know a short-term trader long-term trader I guess goes as both ways you got to be aware of the valuations because you can't stretch the valuations forever it's almost like we've turned in I heard an analyst talk about last week saying you know everybody almost thinks that the only way that stocks go down is because the Fed that's just not the case at all stocks can go down even without the Fed let alone any type of table stay tuned folks we'll be right back golden ratios give shape to everything in our world represented in the Fibonacci sequence these special numbers define the patterns that make up our universe not even markets can escape the omnipotence of these ratios Larry Pezzavento is a 45-year market veteran who has published nearly a dozen books on the powerful patterns we find in nature and their relationships with the ever elusive markets Larry's newsletter Fibonacci 24 7 will teach you to harness the power of these natural golden ratios in order to create successful trades Fibonacci 24 7 is designed to teach the tools you need to identify and act on these undeniable and reoccurring patterns sign up for Larry's newsletter Fibonacci 24 7 and you will also receive free access to his trading webinar trading strong trending markets try out Larry's newsletter risk-free all of TFNN's newsletters come with a 30-day money back guarantee TFNN educating investors 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points of where that high were S&P you're talking about highs in the pre market of 4504 you look where we were 4 30 a.m. up at that price level at about 8 a.m. right near that price level right now 4502 continuing part of what I was talking about there if you jump back to I mean some of the quotes here just to make your allow you to wrap your head around some of the valuations here Andrew Sheets he's a cross asset strategist and Morgan Stanley not familiar with one of these any of these out excuse me analysts what they make some decent points we're going to have a period where data is going to be weak in September at the time when you have a height and risk of Delta variant and school reopening I agree with those risks folks and what I find so perplexing is that the market hasn't addressed any of the misses it had now on a three month basis averaged out we're averaging about 700,000 jobs added for non-farm payrolls that's a good number but we had a much higher average expected before the non-farm payroll that we got for the month of August and basically the market just shakes it off and says that's okay we were just wrong we're just going to push back those jobs you can only do that for so long there should probably be some calculation that the further you delay it the greater the probability that it's not just a delay and that that delay will persist longer than the market is anticipating but when the market just keeps going up even though those misses happen there's a huge probability in my opinion that the market is in pricing and the risk that it should that it's just not a delay and that it could be at least a delay longer than the market would like Savita, Subramanian, I think I got it you ahead of US equity and quantitative strategy at Bank of America S&P 500 has essentially turned into a 36 year zero coupon bond if you look at the duration of the market today it's basically longer duration than it's ever been that's what scares me is their quote the threat is that any move higher in the cost of capital via interest rates credit spreads equity risk premium that's basically going to be a huge knock on the market relative to the sensitivity we've seen in the past and I would agree we've seen the freakouts when the yields spike higher that's why we've had some of the NASDAQ 100 pullbacks folks I think yields are going to be higher in the next year I'm not sure how some of the big tech stocks are going to handle that just for a period of relative volatility after we've climbed higher in pretty remarkable fashion I mean you have to keep in mind it's almost hard to keep in mind that we just had the NASDAQ 100 trading at a price point of 6600 merely a year and a half ago 6600 we might reach 16600 by the year end let alone you came into COVID when tech stocks were the king of the world already with the NASDAQ 100 9700 we're trading at 15600 take COVID out of the equation folks and you shouldn't because the tech stocks have benefited dramatically and I know this is a big like fundamental um try and wrap your head around it but you have to try and remember that prior to COVID the NASDAQ 100 was at 9700 I mean you want to see what type of move is possible just going from pre-COVID levels to this run up a 382 from the 9700 and you know this isn't how I would set a Fibonacci because that's not the trend line but it is important to remember that over a year and a half we risen from 9700 to 15700 a 382 retracement of that would bring it down to 13500 you'd get a 2100 point haircut folks that's not out of the realm that would just bring us back to where we were trading at in May right just kind of this consolidation area in May 13400 and and the the multiples that you're dealing with all right I've talked about it I talked about it on zoom when they came out with their numbers zoom is a strong company we have some zoom and I use my newsletter rocket equities and options folks I encourage you to check it out under the newsletter tab and tfnn all the newsletters we do 30 day money back guarantee out there and zoom it's just the multiples they're dealing with I mean they're dealing with some crazy multiples when you look at a company all right I'm waiting for the fundamentals tab we're talking about a company right now that's valued at 88 billion dollars all right I think they're doing about four billion dollars in sales a year so that means to get you know if you bought 100 percent of that company to get that money back you would have to take every single dollar in sales they had for the next 22 years before you were paid back the capital that you put in to buy that company now the reason for that is that you should have some big time growth in that equity but even when a company is profitable even when they're making money and they're growing sometimes the valuations on the multiples get a little out of whack and they're important to keep in mind because people would say how can how can a strong company like that pull back right Kevin Hicks always has a great quote right at at at a certain price that any you know any equity at a certain price I'll be a buyer at a certain price I'll be a seller because even great companies get overbought even bad companies get oversold is the other side of that um so keep your eye on this because I think the story is going to persist and I think that we will see rising rates at some point in the near-term future and the risk versus reward ratio that we're dealing with with the market that I just said the Nasdaq 100 it goes from under 10,000 to 15,700 that's going from the pre-covid highs okay if you take the fear that push that index down to 6,600 you just go from 9,700 a pullback brings the Nasdaq 100 down 2,000 points from where we're trading at right now and you look at an interest rate environment where we have rising costs folks I mean we're seeing across the board in terms of the rent prices that are going up my dad sent me an article talking about rent prices yesterday going up record territory in the Tampa market 20% you're talking about if you've got somebody paying 1500 bucks for an apartment that means that apartment now is $1,800 that is $3,600 on a yearly basis after tax income right yes I had to wrap my I didn't say wait a second is that right that sounds like a lot of money yes that is $3,600 after tax income that a rent just went up for somebody that was paying $1,500 a month in rent prior to this raise $1,500 probably in the maybe in the median area of rent as in they obviously go lower they obviously go much higher if you're dealing with a larger household whatever it is $1,500 seems pretty reasonable now that reasonable rent is $1,800 point being folks inflation that's a 20% rise in a family's rent now we can write off rent right we're trying to write off oil prices as they're at $70 we're trying to write off food costs that have some supply chain problems going on that maybe not persist point being you see all those numbers folks inflation it's definitely possible and if you see the type of rises in interest rates that may be possible over the next year that's going to force the feds hand they're not going to wait forever if you get those types of rises and rent is not going to pull back those are leases signed you know you signed somebody for $1,800 and you had your last tenant at $1,500 you're not going back to $1,500 anytime soon it's not happening probably ever that leases signed for a year my guess is it never goes below $1,800 ever again and so there's a 20% hit to a family's rental income which is one of the largest bills you face and when you look at the median income for a family of four you just take $4,000 almost after tax out of that money that is a huge huge inflationary factor let alone the factors we're dealing with across the board whether it's cars and I imagine cars will pull back but just salaries going up right wages going up even on the miss on the jobs number last month we had wages going up so think about all those cases and how they play out on a risk reward basis doesn't mean the comeback is coming in the pullback anytime soon but man valuations are high when we're coming into a dicey period of time and now you're even seeing a lot of analysts kind of pointing it out in this market you know and there's always the potential for tax selling all right I think that people who are in the top stratosphere of income in the US they should pay a little bit more taxes I do but that's not going to stop them from selling and getting ahead of the curve which is possible as we end the year 2021 with some big gains in those markets stay tuned folks and be right back for the open are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading market and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where 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still about 30 points off of where we were yesterday at about the same time just after the open you see the pop we got it 930 only lasted about 15 minutes we'll see where the weight goes today but nasdaq up 100 points even we got the s and p's you're talking about up 25 points dow up 204 right now let's jump around jump down the line excuse me with some of the stocks that are moving on their numbers this morning affirm boy this stock's bent on fire and they're continuing the run let's see how they open today pulling back a bit but still up 16 percent now we pull up the daily on this thing this thing was just trading august 27th at 66 dollars you jump higher on the news that they will be teaming up with amazon to offer a buy now pay later or buy now pay over install it plan type plan you pull back to 90 you got to pop up 16 percent on their numbers by now pay later companies revenue easily topped estimates active merchant numbers more than quant quintupled and affirm issued a positive outlook as well toyota now they i think they talked about 40 cut recently toyota was talking about because of chips cut at sandal production target by 300 000 vehicles as factories in vietnam and melasia were hit by the spread of the cova 19 an ongoing computer chip shortage toyota see they're actually positive pre-market maybe with the market up about two tenths percent there's their action uh they were up to about 182 but pulling back a bit what else we got going on uh wells fargo yeah they get another quarter billion dollar fine 250 million dollars by regulators who said the bank has not made sufficient progress in solving ongoing issues in its mortgage business regulators had first identified those issues in a 2018 order folks it's going to be 2022 in a few months talk about four years um shame on them in a big way wells fargo you're up 1.3 percent with the market right now jumping over to the banks you got the bank straight and higher jay bank of america up eight tenths percent right now jp morgan up about seven tenths percent right now continuing down the line uh davin busters out with their numbers they were positive pre-market talking about retail in terms of restaurants uh restaurant gaming they kind of merged the gap there in terms of social quarter learnings a bucko seven to share the market was only looking for 58 cents restaurant and arcade chains revenue beat the forecast that it continues to see sign of recovery in its business expects that to continue barring any significant covid related dart downturn that's quite an if to throw on the end but nonetheless i mean there's there's some covid out there right now i wonder how they're doing particularly in florida that would tell you how maybe in some other states although shutdowns a little bit more possible in other states than florida is well aware um but davin busters play is their symbol yeah 14.4 percent look at that pop on their numbers last night they were at about 35 dollars last night you take a look at the three-year weekly you got highs earlier this year though 51 dollars still well off those highs man talk about a pullback in this equity man uh you get back all the covid losses in terms of getting right back up to about 50 dollars the market says yeah not so quick as we figure out that it wasn't exactly the summer that we imagine it would be with the persistence of the delta variant out there all right jumping down the line and continuing to see what else we got going on just one second as i pulled this up and that uh what else i want to talk about uh take two they're going to delay a new version of its grand theft auto video game by four months saying it wants additional time to further polish the final products they maintained its prior full year outlook but shares down about two two percent take two is their symbol yeah down about two percent market does not like a delay four months nothing short um there you've given back and you're coming right into this area we had in november the lows of that area 151 what do we touch at today we touch it today 152 222 maybe that's where it finds a bid i mean we're right back to where we had some nice support there towards the end of last year for take two okay let's see what else i got pulled up in terms of talking about stories out there today we'll talk about a little inflation in terms of inflation producer price uh producer inflation accelerated in august wholesale prices rose a record 8.3 percent from a year ago i mean this is one of the stories i was reading this morning they kind of shaped what i was going to talk about for the fundamental aspect of potentially rising yields um in the face of markets at multiples that are getting kind of silly and even in some wall street analysts estimations uh producer price index increased 0.7 percent in august from a month ago the dow estimate was 0.6 8.3 percent from a year ago that's a biggest record since 2010 the move showed that inflationary pressures are likely to persist uh that came following a 7.8 percent move higher in july so we get 8.3 percent uh year over year for the month of august that follows 7.8 percent in july that's actually heating up month over um month on a yearly basis excluding food energy and trade services final demand prices increased 0.3 percent for the month the market though was only looking for a point was looking for 0.5 percent still that left core ppi up 6.3 percent from a year ago also the largest record increase but the market had been looking for a little bit hotter number core only coming in 0.3 the number 0.5 but you got to exclude food energy and trade services um final demand for services rose 0.7 percent for the month thanks to the 1.5 percent gain in trade services or the margins received by wholesalers and retailers transportation and warehousing costs on the rise 2.8 percent about one third of the overall gain came from health beauty and optical goods jumped 7.8 percent prices related to outpatient hospital care held back gains following 1.5 such a divergence here in the numbers right in terms of the rises versus the decreases um but when you look at you know tentative trends in terms of transitory I guess is the word everyone's using right a third of the overall gain from health beauty and optical goods I'm not sure that's a transitory rise I mean maybe health beauty and optical goods are just going to be higher and they're not going to pull those prices back even if the supply disruptions or the input good costs that are driving those to pull back you just might see businesses hold those costs folks because we have wages already rising right if you're paying employees and you think you can go back to a year and a half ago prices when that employee let's just say they live in Tampa now has a 20 percent increase in the rent they're paying those are factors that are going to influence everything folks when you have families anybody paying 20 higher rents across the board over just a year and a half ago keep that in mind there's no way that people are going to be paying 20 higher in rent let alone all this other stuff that's going in there right you want to buy a used car you're paying crazy higher you want to buy some some beauty goods you're paying eight percent higher um they're all going to persist to push those prices higher as we're seeing and I'm not sure they're going to be as transitory as some others think they may be all right what else we got going on why not let's talk a little football here we're quite a kickoff to the season of course I'm biased in a big way Tom Brady the king of the comebacks the king the goat entirely through his four touchdown passes two of those to Gronk that was numbers 99 and 100 to one Gronkowski and they have a comeback when great game did not catch the final I was asleep folks I wake up early that would that game finish at probably like 1130 or something I think it started about 8 8 30 watch the first half great game of football good to have football back um cowboys man kick a field goal to go ahead by one point with a minute left Brady comes on the field marches tamp it down the field they kick a field goal and they get it down pretty remarkable action over there um we'll talk a little bit as we wrap it up I got uh the New York Yankees doing from the the first something the for the first time since 1924 and it's not a not a good thing we'll talk a little bit with sports as well when we get back and we'll look back to the market stay tuned folks very back are you in the market for buying or selling real estate in the bay area including the surrounding st. Petersburg Tampa and clearwater markets tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property tiger realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call tiger real estate LLC today at<PHONE_NUMBER> or email us at tiger at tfnn.com that's<PHONE_NUMBER> call us today technology around us is changing every day with so much happening that can seem impossible to keep up with all the information David 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give him back some of those gains actually about 100 points off the highs it had this morning we were up about 250 you almost reached 35,000 this is a 15 minute bar we got a high of 34,997 we're exactly 100 points off that high right now 34897 and the rustle positive by six points had been as high as about 2260 was a 2266 in the pre-market at about 430 a.m. this morning all right jumping back to some more stories we're talking about interesting opinion piece out here as well talking about john authors not familiar but a bloomberg opinion writer talking about a momentous shift is taking shape in the labor market now again we got a theme going on today i'm bringing it back to inflation the factors that are going into this economy all right faster wage growth for the low skilled has implications for economic growth inflation and joe biden's political prospects again an opinion piece but what i wanted to look at in here in particular is check out the wage rising for the low skilled exceeding those for high skilled by the most on record folks now you have uh the white is the atlanta fed wage growth tracker for low skilled and this is year over year increased percentage wise okay we go from about one to six i'm going to expand this chart so we can see it in completion you have blue the wage growth for high skilled okay mid price um and that's the mid price on that average wage growth now you look in terms of you back it up to the 90s to the 2000s you had high skilled gaining at six you had low skilled gaining under five you look at uh where we were in the peak of 2008 you had high skilled at just under five you had lows at under four and uh really things collapse of course uh to the pullback of 2010 you come into covid at a time when we were basically close to merging that and just like that things are really accelerated as you now have a flip over in price and folks you're going to need that is is you need that to happen when you have rent prices rising 20% okay because most of the time high skilled workers there's going to be a huge competition for talent for human capital out there in a big way um but there's also a competition for low skilled wages in the same way because people aren't going to be able to make the same type of money if they're paying 20 higher rents i mean we're going to see this play out over the next two months there's been a lot of debate about the unemployment benefits expiring september six that they were holding lazy people back that would rather take free money we know that's happening in some capacity okay but is it a big enough variable that everyone's saying it has been the huge impediment to jobs coming back we're going to find out in two or three months those jobs don't come crushing back in a big way it was not as big of a factor as some may have thought maybe the factor is is that people aren't just going to come back to the same job they were out a year and a half ago for the same amount of income um and you say you know the argument against that is well they have to people can't just go hungry you know there's a lot of uh soul searching over the last year and a half folks uh people can make do in certain situations with maybe not spending their life doing something they can't stand for an income that barely allows them to just move day to day you know you got kids in your house you got to take care of them you got to do that i understand you get the job done you get out there and work and make some money to take care of your family um but there's a lot of people that have that option right now that just kind of were through going through the daily grind i think just letting days pass and when you have 20 higher rent they might say you know what i'm not going back to the same job at the same pay if i had a low paying job if i'm not going to be able to even pay the bills i was able to pay then when i get rent prices up 20 i use car prices up you know etc i got food prices up etc um so we'll see how it plays out but for the third month in a row wages for the low skilled have risen faster than the high skilled there um and that's how that's quite a break from the trends we've had recently you look where we were over the last 30 to 40 years almost stretching back to 97s was that 20 24 years um almost 25 years um and early in 2010 it looks like was the one time you had that number cross as the market was really cascading to lower numbers in a big way that's something to keep your eye on yet again all right i said we're going to get back to uh little sports just interesting even in probability so the Yankees are on a little bit of a tough slide um they have of course i'm a red sox fan so we'll troll those Yankees fans out there a little bit um but for the first time since 1924 they never held a league a lead in the four game series they just had with the jays they've played 1250 series of four games or more and at least once during any of the four games they've had a lead um they've been in a tough skid in a big way when you look at their numbers and i think they have them down there yes they've lost six straight and 10 of 12 so they're in a slump for sure and i think they're just one game out now or one game ahead yeah uh they also pulled within half a game so they lost this series to the blue jays and the blue jays are now within half a game in new york for the final a l wildcard on thursday night with a six four win they capped a four game sweep we're coming into october um in baseball the rays are on fire this year Tampa sports on fire it's a bummer though folks uh they cannot put anybody in those seats and it really doesn't have to do with covid uh we got a great bucks organization of course uh champions we got a great you know Tampa Bay lightning organization in terms of the fan base let alone their champions as well the rays had quite a run last year there is just no support for that team in this in this area folks i hate to say we don't deserve uh a baseball team when they can put six eight thousand players uh excuse me people in the stands out there um the players deserve more than that you know and i haven't been to a game this year i'm not helping it either but you know most stadiums are filling with like 27 000 people right now and tampa can barely put eight six to eight thousand people in there when they got a team that's crushing it on their way to the playoffs unfortunate but that's where they sit right now all right let's jump around to some of the fang stocks see how they're trading this morning amazon shares up about a third of percent now we get the naztac 100 up six tenths percent right now s and p's up a third percent and you get the dow up two tenth percent we jump over to microsoft shares microsoft up about a third as well apple shares this morning apple is such a rocket ship up seven tenths this morning we jump over to google google up half a percent uh let's jump to some of the other stocks i like to take a look at even retail mcdonald's in the food sector up six tenths percent we'll jump to some of the biggest retailers out there wal-mart down two tenths percent we got target shares up about a half a percent so far this morning some of my favorite stocks out there disney having quite a week uh giving back some of the overnight gains disney's flat to 185 68 so far this morning i've talked about zoom zoom shares up 2.2 percent look at that pop on the open there zoom trading up and this is where folks you know you make trades you obviously can be wrong um but it's a nice acceleration now i'm going to put this on a five-year daily so i can encompass the full acceleration that this really had when you skyrocketed i remember their earnings call last september folks when this thing skyrocketed higher you gap away to the tune of you start off that day august 31st at 304 the next day you make a high of 478 folks that's almost $200 you hear that you go from 300 to 478 do you hear that again and then what happens you fill the entire gap back in may you trade higher to 400 again this thing accelerates lower to a price of about 294 and that is where we got into this equity folks looking for an acceleration from that we've gotten about an eight to ten dollar pop depending on where we got in after that drop we're up at 302 and i've talked about it you're gonna have some volatility in this equity but man it's nice being in a growth equity that makes money is growing is profitable nice margins yeah they're dealing with some big multiples but they are going nowhere folks zooming is here to stay in the future even if they're waning some of that growth so i had to pull back with that last stage and folks very back to finish up the show sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis 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with a monthly subscription to the opening call newsletter for only $149 your subscription to the opening call comes with a 30 day money back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk-free today are you looking for a secured investment which pays you on a monthly basis the target first mortgage program may be the program for you the best rate on a five-year cd in the country right now according to bankrate.com is paying 1% per year or $1,000 per 100,000 invested the target first mortgage program pays 7% per year paid monthly on secured high value buildable properties in st. Petersburg, florida the investment is for four years paying 7% per year or $7,000 per 100,000 invested your investment is secured by high value real estate in st. Petersburg, florida your investment can be anywhere from 100,000 to 500,000 do you want to make 1,000 per year on 100,000 invested or 7,000 per year on a secured target first mortgage the target first mortgage program may be just the program for you the target first mortgage program pays 7% per year paid monthly for more information you can call<PHONE_NUMBER> that's<PHONE_NUMBER> this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com welcome back folks we're 24 minutes into trading and right now we got action in both directions look at this s and p right now s and p up only seven points we almost made 45 10 right there on the open 4509 25 you give back 19 points in the span of about 25 minutes since we open tech stocks holding up relatively well right now we're up 91.6 10th percent dow giving back 200 plus points on the open watch out folks and the Russell is in negative territory you got 15 points right there you jump over to the commodities crude up about a dollar 40 golds down four dollars right now and you have notes and bonds pretty tame action considering but markets selling off a little bit right now as they're saying over there in the youtube tiger's den are we talking about a race to the red it's possible folks i only have about two minutes left in my program but we could be in the red by the time the s and p's finish off that show we're six points in the green right now but the tech stocks as i say holding up well nasdaq up 85 points right now amazon shares up about four tenths percent apple shares look at apple holding up so well up about three quarters percent right there microsoft shares barely in the green up by about 10th google shares so far this morning up five tenths percent or half a percent we'll say we jump to social media facebook getting a pop up 1.4 twitter shares up eight tenths percent snap shares up seven tenths percent as well all right let's take a look at the vixx as this market oscillates in both directions yeah vixx catching a little bit of a bid from 17 we almost hit 18 just like that back in no time in bitcoin shares bitcoin shares bitcoin this morning remarkable we just been hovering right and around that 45 000 price point right you come into the short week at 53 000 el salvador they push out bitcoin for the first time in terms of recognizing it look at those six one eight folks keep the three eight twos on your radar keep the six one eights on your radar doesn't mean they're always going to happen but they're great points to kind of set your trade put your stop on the other side you know if you're wrong right away and sometimes you get some quick reversals on these numbers in a big way of those three eight twos all right folks thanks so much for starting your day with me stay tuned we got our man basal Chapman he's up with the tiger technicians our next fax market at 11 larry pesevento steve rhodes dave white tom o brian all this afternoon on friday we got a two-way market right now s and p's positive by 10 mazdaq positive by 95 stay tuned folks basal is coming back he's live right now in three minutes have a great friday


I'm Alana. I'm a social entrepreneur who works with the Inspiro network, which supports social entrepreneurs and launches social enterprises, especially around the space of collaboration and participation. Because we're organized collectively, we've had to develop a lot of processes internally for things like decision making, budgeting, which we've then open sourced, usually as open source software, so that other people can access them as well. Inspiro is primarily a network. It's basically people who are drawn together by a set of shared values or positive social change through business. People who want to use it to as a business to make the world a better place. There's a lot of people who are interested in technology, but there's also other kinds of professionals like lawyers and accountants, and the main commonality is around these values. We're organized through shared leadership, collective leadership and collective ownership, and have a really interesting system of voluntary contributions sort of to the center, and then deciding together how the center is going to support everybody. Well, COMP project originally started out of a collaborative funding process that we were running at Inspiro. It began just out of a real need that we had. We didn't want just a few people making decisions about what we were doing with the money that we had, but we wanted to develop a collaborative process that was effective and fast and easy to engage with, but also was really inclusive that many different people could contribute to. So it really started sort of from scratch and just began iterating using really ugly spreadsheets and just started optimizing this process slowly. And it's been incredibly powerful for us. It means that now not just a couple of people actually have their heads around the numbers. Really everyone can engage with that. So the idea being that anyone could propose a project, the work that they wanted to do to get funded, sort of like internal crowdfunding, and that people would allocate their part of the money proportionally to how much they contributed back out to the projects that they wanted to support. And then out of that grew the co-budget software, which John has been doing a lot on the design of how do you translate that ugly spreadsheet process into beautiful, engaging software. You know, anytime you're dealing with money, there's just, and lots of different people contributing, say different ideas like, you know, I'm proposing this bucket or I'm proposing this new project that I want people to support. There's just a lot of different elements and figuring out how to do that as well in an interactive way that is both fun and intuitive, also simple and just makes sense and is easy to use. I recently visited the Participatory Budgeting Conference in San Francisco and I was able to meet a lot of people doing incredibly transformative social change work and community development through participatory budgeting, oftentimes like citizens directly allocating their tax dollars and that sort of thing. And now I'm talking to people on the participatory budgeting project and other people connected through that whole ethos about what would participatory budgeting look like in schools, what would it look like in community groups and cooperatives in businesses, in NGOs. Just anyone who really wants to practice transparency, inclusion and engagement at a whole other level, I think it can be really transformative for organizations. It has been for us, absolutely, to really feel that people have this collective ownership of outcomes. They really feel that their voice is being heard on something as practical as money and budgeting. So one thing that I realized talking to people doing participatory budgeting processes in sort of an analog way is that the implementation expense for them is huge.  And I think that one thing we can contribute is by developing software that's easy to use, that's engaging and that's effective, it's sort of radically reduce that implementation costs and more and more people can participate in these incredibly empowering processes. And that's a theme that runs all across all the apps that we build and spiral, taking these, the cost of collaboration which can be quite large and just trying to really minimize it by orders of magnitude so that it really becomes accessible to people and with the hope that when we can make things like participatory budgeting and everyday democracy just massively accessible to people that that will create radical social change. One thing we I think learned really early on is that it doesn't make sense to do everything collaboratively. So there's some decisions and processes that oftentimes you say, actually we as the group think it'd be better if this person went off and did that instead of us all sitting around a circle and trying to do it ourselves. So I think one of the first things is just figuring out when it makes sense to do something collaboratively, when you think you'll get a better result when working collaboratively and then doing it in that scenario. So basically what we're trying to do is make it easier, make collaboration more accessible, not make it so it's required for everything. So that's the first thing I think. I mean I think there's a couple ways of looking at sort of efficiency in collaboration and if you're, sometimes collaborative processes do take somewhat of an investment upfront of time and energy. Then if you ask yourself how are we measuring the total picture? Like are we making good decisions? How expensive is making a bad decision? How expensive is it if a lot of people in your organization or in your group aren't on board with the decision that was made or are disengaged from or alienated from the process or from the activity of the group? That's really expensive in the long run. And so I was recently talking with a management consultant who put it was speed to implementation is not the same as speed to success and they're actually thinking about what success means and where you're trying to get to and the incredible power of actually including diverse voices on raising the quality of decision making, not getting caught up in group think or in just the perspective of a small number of people but also when you get people feeling like they have participated in the decision and they collectively own the outcome. The level of motivation that inspires is really off the charts and the ability, the maturity in an organization for people to say, I'm going to set aside my pet project because I can see the whole picture and I can see that this other thing that someone else is advocating is actually more important and I'm going to put all my energy into making that a huge success. That's a whole other level of efficiency. The way we're starting out with co-budget in the Inspiral use case is that we've already got core expenses decided by a smaller group of people basically and we use co-budget to decide what to do with the discretionary funds and that's something that the people on the ground level are going to have a better idea of what sort of new projects can we start up that are going to make this part of the system run better that somebody at the top might not know about. So I think it really opens up a lot of possibility there. On the other scale of like the really large budget, which is something that we haven't really tackled with the co-budget design yet, there's a number of ways to do that and in some of the collaborative budgeting processes that are used so far what happens is a whole bunch of people say, here's what I would want this full budget to look like and that all gets collated together and each person's perspective of what should the budget look like, that's kind of like a story and a perspective and then there might be a smaller group that's elected by the company or the organization who will then take all of those different stories and perspectives on what people think the budget should be and turn that into something that kind of represents that diverse perspective. I think there's an incredibly important connection between budgeting and strategic thinking and when you start to really understand the power of budgets and what they're really for, you realize that they are in some ways the implementation of the strategy. And I hear a lot of leaders talking about how they want everyone in the organization to think strategically about the larger goals of the organization and how their work fits in. When you connect it up through this actually really engaging visual kind of gamified process, what ends up happening is you understand not just the discretionary budget but you can see what those fixed expenses are, you understand how much taxes do we pay, how much does an accountant cost, this idea that everybody should be able to at least understand why. If there is a hierarchy in senior leadership who's making decisions like why they might be making those decisions, that's really important and also asking themselves how does my work contribute to the bigger picture strategy. So in our internal budgeting process, we've got our year's strategy on top of every month's budget. So as everyone's considering what the immediate needs, everyone's thinking about the long term as well. So yeah, not everybody's going to have a view on every part of an organization or a project, but that's okay. I think if you design these processes well, what you get is a really amazing balance between the collective voice and the individual voice. If somebody really knows another part of the organization, maybe they can have more influence in budgeting on those projects and just not decide how the other budget's going to be spent. It's a really dynamic process. So you can choose to delegate your decision-making power back to the group if you feel like you don't have the expertise that you need and that kind of gets the best of all worlds. I think there are a whole bunch of sort of proto-processes being trial-dead and spiral right now and it's exciting because we're really sort of an experimental group of people, kind of an entrepreneurial bunch and so we can do this kind of experimentation, optimize some of these processes and then figure out how do you open source them in a way which is going to be accessible to people who maybe can't be quite as experimental. And that's not only about technology, it's about digital technology but also what I call cultural technology which is how are all the ways that we interact as humans and all the processes and the ways that we communicate that support great collaboration including the great use of collaborative tools. So I think a lot of people have had the experience of introducing some piece of software that's supposed to solve all the problems and it kind of falls flat on their face and that's because it's not just about the software itself, but it's about what's the culture in which you're using it. And one common theme between both Lumio and Co-Budget and probably some of the other inspired ventures that have started up is that they did start out as purely cultural technology so with Lumio it was down to occupy people making decisions together democratically and that consensus process has been going on for hundreds of years and with Co-Budget it started out with Alana making some really awesome spreadsheets that facilitated the process before we turned that into technology and I think putting the emphasis on the cultural technology first means that when we actually go to build it we know what we're building it's the right thing, we know that it's actually valuable. Did you know that actually the Co-Budget process comes from an even more analog process before that?  But it's about taking these amazing group process technologies that many amazing people have been working on for a long time and bringing them into the digital age in a way that's massively more shareable and scalable and accessible to all kinds of people who I feel like these kinds of processes and ways of collaborating to revolutionize how they can work together. The thing about collaborative technology is that it helps companies to make more empathetic decisions. I think there is a real upswell of more humanistic ways of organizing people and you're seeing this amazing convergence between new practices in business and new management philosophies alongside new social movements like for example the octopi movement or Podemos movement in Spain and lots of environmental movements are all kind of recognizing this amazing power of bringing down the cost of collaboration and communication really radically increasing the amount of people that can uniquely participate in the transformational power of that kind of engagement on the individuals involved and the efficacy of the movement. We've seen a lot of amazing stories coming out of using collaborative software for social change. Things like Lumia for example is used in a big mental health services NGO in New Zealand and I recently did a workshop with them and they were telling me a story about how they have a real value around including all of their staff, some of whom have had challenges with mental health themselves or maybe aren't used to being in leadership positions or empowered positions including them in decision making and that rolling Lumia out throughout their whole organization has let them see individuals who never would have spoken up in a meeting or never would have felt empowered in that way have their voices heard and be meaningfully included in decision making and that starts this really virtual cycle of them stepping more and more into a position of leadership and empowerment. There's amazing stories out of participatory budgeting of people who go through that process are then for example more likely to vote because they actually feel that they are meaningful citizens and members of their civic community and that being engaged in one way can have really positive knock-on effects and how you're engaged in other ways in your society and in your company. I really do think that if we can start doing democratic processes in our everyday lives that we will all upskill ourselves in this thing called democracy that it's not something that's about voting once every three or four years that it's about how do we collaborate and make decisions and talk to each other every single day in all the groups that we're a part of and that's the skill that we can work on building up together and therefore be able to build a better society together. I think that open source, social mission driven companies is not at all at odds with a really strong revenue stream and a really good business model. We do really sort of radically transparent collaboration with our Lumia community and recently hosted a big discussion about what should the financial model of Lumia be and our users hosted a proposal and said we want you to charge for it. We want to support this thing financially so that was really amazing and way more meaningful than trying to force money out of people that doesn't make as much sense. Co-budget I think is especially well positioned to be a thriving social enterprise as a business because by definition everybody using co-budget at least has some money and in my experience people really do want to financially support things that are useful to them and especially things that are made by people that they trust and if they can actually transparently see how the company is going to be participating maybe in some decisions or in the direction of the project they're really motivated to support it and make sure it thrives. So I think that a strong business model is just as an important part as a strong social mission is in place. Yeah and on what you said about trust I think that's one of the most important things with all of the Inspiral apps and organizations is like really focusing on how do we build trust with our users you know especially and the more we focus on creating a really good user experience for instance instead of you know just trying to manipulate people into paying us the more they'll freely want to give us money and help us thrive and continue to build the organizations and the apps so yeah. I think we do need support financially and I'm not exactly sure I feel like the world hasn't figured out the right model for how to scale really mission driven enterprises yet venture capital isn't quite it philanthropy isn't quite it even impact investing isn't quite it but when you have something that's been tested on real people is getting a lot of pull from users and has massive potential for being really useful and having a positive impact we need to find where is that scaling capital how do you take that validated concept and really blow it up big and we're still working on that so far we're bootstrapping everything I think when it comes to different kinds of investment you have to kind of look at what's incentivized in the model so if what's incentivized is a big exit that's really different in the long term sustainable maybe slow growth company everybody kind of knows about that one but even with philanthropy it tends to incentivize constantly writing grants for example or not being exposed to market forces in the same way and not having that rigor which I want that rigor I want to be exposed to those market forces and have to relentlessly optimize for user value I think that's really positive for our project impact investing I feel like I don't know for some reason the thinking around it hasn't quite mature people don't know exactly what metric are we measuring here I don't feel like the it's kind of like regular investing except you're not going to make as much money back which is not maybe that's unfair to say but I just feel like people aren't feeling that connection to investing in the social outcomes in the same way and we really need to connect up I know that there are people out there who are super passionate about doing good but we need to create the models to make it easier for them to plug in resources to those outcomes to get social returns the world is changing and I'm a really optimistic person some people a world is evolving in some extremely exciting ways and for me they really are about including more and more people and real diversity and really getting at how do we have the best of the individual voice and the best of the collective voice and you can see this in how software is developed in how new political movements are happening you can see this in how really effective new paradigm businesses are being run I'm super excited about being on that wave I think it's only going to go further and further but we need the tools we need the tools and we need the cultural expertise that it's not just about tearing down what's there it's not just about removing hierarchies or removing the existing system because that just leaves the vacuum it's about being incredibly conscious what are we building next what's really going to support the society we want to live in and so we're in our own small corner trying to build a certain part of that but I think we all have to work together what we need is a huge diversity of different people all working in their own corners building up the tools and the expertise and knowledge and sharing them with each other and supporting what each other is doing


acalizes the disorder of the esophagus, which is essentially the the muscular tube that conveys the food from the mouth to the stomach. So this tube has two important functions. One is to propel the food from the mouth to the stomach. And how does it do that? It generates a wave of muscular contraction that runs from the top of the esophagus to the end of the esophagus where it meets the stomach and squeezes the food balls down until it enters the stomach. The second function is it has a barrier between the the main body of the esophagus and the stomach. This barrier is located, if you can see over here, right in the junction here between the stomach and the esophagus. You can see this fleshy muscular tube, the esophagus, which is what brings the food down. And then this sphincter, which is a circular muscle, is essentially the gatekeeper that opens to let the food through and when it functions properly, it prevents them food or acidic contents of the esophagus from squirting back into the esophagus and causing heartburn or reflex-related symptoms. So when these sphincter functions normally, it lets the food through but prevents, but then contracts and prevents stoma contents from going back into the esophagus. Essentially, there is this function of the muscle of the esophagus. And this consists of essentially two main issues. Number one, the contraction of this part of the muscle, which happens sequentially as a wave and pushes the food down, is dysfunctional. The esophagus doesn't contract in a sequential way to push the food down. So that the medical term for that is aparystalsis, which is again like a-calacia. It's from the Greek, a means not to have. So aparystalsis means you don't have peristalsis, which is the propulsion of the food. And then you also, the second feature is, which gives the disorder its name, is the lack of relaxation. This sphincter here, this circular muscle, you can see the thickening here in the muscle that is normally closed, preventing gastric contents from going backwards and letting the food through, doesn't relax properly. Normally, there are these nerves that run along the esophagus that when you put food in your, in your mouth and start trying to swallow it, they give a signal down to the sphincter that food is arriving and it's timed. There's a reflex that is properly timed. So as the food is coming down, the sphincter relaxes to get it through. So this reflex is not functional in a-calacia. So food is coming through, but the signal to relax does not operate. So the food finds a closed sphincter, which does not relax and starts accumulating in the esophagus. And the, the classic symptom from, for a-calacia that patients tell you is that they feel that the food gets stuck and they often need to consume large amounts of liquid or water, which as the, as the water accumulates in the esophagus, it increases the pressure, the hydrostatic pressure, until it reaches a pressure level similar to what pressure the, the sphincter exerts. And when that gets exceeded, the, finally the, the food gets flustered through. Let's discuss the evaluation of patients with suspected a-calacia. The first part of the evaluation involves a very simple test that has been around for decades, which is having the patient swallow a white liquid that is visible on x-ray. It's very dense. It contains the element barium. So the test is called a barium swallow and then taking x-ray pictures to sequentially to follow the movement of this barium that was followed across the esophagus and see if there are any areas where there may be partial or complete obstruction to the flow of the, of the barium. The cardinal test for diagnosis of a-calacia, which is required, is then to do a formal testing of the muscle of the esophagus in term of its contract, contractility and relaxation using a special test that it's called esophageal manometry. The way this test is done is a, is a special small catheter is introduced from the nose down the esophagus until it enters the stomach and then the catheter is positioned properly to measure the pressure with which the muscle is squeezing all along the esophagus. Right now there are a number of treatment options. The two main ones that have traditionally been used for a-calacia are balloon dilation and disruption of the sphincter by basically inflating a balloon across it and tearing it. And a surgical option which involves a surgeon going in the abdomen finding the sphincter of the esophagus and using some sort of scalpel incising the sphincter. There has been a recent study that was of high enough quality and involving a large number of patients to be published in the New England Journal of Medicine which reviewed the efficacy of balloon dilation versus surgery so that the results indicated that the two methods were equally effective. A new technique has been developed that provides advantages of surgery but with much less invasiveness. This technique is called peroral that means through the mouth endoscopic myotomy instead of surgical myotomy. So the acronym is very nice, it spells POAM. And that is the new technique that is making waves now in the field of acalasia. It was invented in Japan in 2009. We performed the first human case at Winthrop approximately 10 to 12 months after the first Japanese case in October of 2009. And we were the first center in the US to perform this technique. And we are still only one of a handful of centers in the world that perform this technique. And we're probably also the first patient, the first center to perform this technique outside of Japan. And we had the publication of the first patient on whom we performed the technique and who did tremendously well in the main endoscopic journal in the United States and probably the preeminent endoscopic journal in the world. The way that the technique works is we introduce the endoscopy in the esophagus. We use saline injection to inject saline between the wall of the esophagus composed of three main layers. The lining of the esophagus, the muscle layer which is the outermost layer. And in between the lining and the muscle layer there is this layer that is called the sub mucosa, mucosa being the lining, which contains blood vessels, nerves, it's a very loose layer. And generally it's very thin, but once a needle is inserted through the lining into this layer and saline is injected, we expand this layer to up to a centimeter or two in thickness. And that creates a space that we can operate in. So this is a very novel approach. This is the only endoscopy technique where this space is used to perform endoscopic surgery right now in any significant scale. So what happens is after this space is created, a small hole is made in the lining and dilated with a tiny balloon and that allows the endoscope to then enter into this, you can think of it as a crawl space between the lining and the muscle of the esophagus. And then the scope is advanced down the esophagus in this sub mucosal space until the sphincter is encountered. Then it's incised with a small electrical knife the way a surgeon would do it from the outside of the esophagus. And once the complete incision is achieved, the endoscope is removed from the tunnel and the small round entry to the tunnel is closed with special little endoscopic clips, you can think of them as tiny staples that we can put to the endoscope that then fall out by themselves usually in a month or two. So what this technique achieves is by creating this tunnel there is increased safety. So as the sphincter is incised even if the incision goes through and through and perforates the esophagus there is a mucosa layer that then falls when the scope was removed falls as a flap and seals this entire tunnel including the cut into the muscle. So it's a special technique that ensures a safe incision of the muscle of the esophagus. What are the potential advantages of this kind of endoscopic myotomy compared to the surgical myotomy? There is the obvious advantage of no scars which potentially means less wound infections. Another thing we have seen in our patients that we have done is essentially none to minimize pain. Most of our patients have not required any narcotics or other pain medications after this sort of endoscopic myotomy. But the initial data we have so very good data in terms of decreased reflux than one would expect compared to what happens in the surgical heller myotomy. Also it does not preclude balloon dilation after this is performed. After the procedure is performed the patient is moved to the recovery room. Currently we do perform the procedure in the operating room because we are early in our experience so in case something that occurs that requires a surgical intervention we want to be ready for this to occur within minutes. So it is performing the order. The patient is recovered in the recovery room and then is transferred to a floor. And in most patients we are able to discharge them the following day in the afternoon after a barium swallow procedure is performed in the morning to make sure that there is no perforation. Many patients are interested to know what the diet will be after the procedure. Many want to go straight to a steak that is not allowed for a short period of time. For the first two weeks our normal protocol is to maintain the patients on a liquid diet as most of them are actually before they come for the procedure because of the severity of the dysphagia that a callasia causes. So we turn them to maintain their liquid diet for another two weeks approximately because the procedure of the modem itself even though it ablates the sphincter it causes tissue swelling from the injury to the tissue caused by the surgery. And the tissue swelling itself may cause some degree of obstruction so we basically maintain that until all the swelling from the cutting of the sphincter is solved. So for two weeks we ask the patients to maintain their liquid diet and then we liberalize the diet after that to a solid diet. So usually two to three months after the procedure we repeat a score of symptoms which quantifies those symptoms. And we selectively we may perform another barium swallow examination to make sure that that bird beak of the non-relaxing sphincter has resolved and there is ample movement of barium into the stomach. And we may repeat a manometry to document the effectiveness of the procedure in eliminating the high pressure of the sphincter. From then on usually then every six months or so we perform the symptom score again to detect early any relapse that can be easily treated with Salvat's technique as balloon dilation before there is any risk of getting a dilated esophagus that may require extensive surgery to eliminate. For more information about acalasia visit winthrop.org or call 1-866-WINTHROP.


Let's see, let's see, we've got Ian Ian says, good job in the debate. Thank you. And I was surprised with Wolf. I thought he was a serious Marxist and would defend real socialism, not just worker co-op socialism. The problem with defending real socialism is you can't, you can't. They've learnt that they've learnt that socialism has failed when it's associated with statism in any kind of way, uh, in any kind of level. It fails and they can try to project Denmark or Sweden as socialists, but they know that the Danes and the Swedes will object. So they're stuck. They want to be revolutionary. They want to have a vision. They want to have something to get you excited about. And yet the old style Marxist socialism tied up with a dictatorship of the proletarian and, and manifest in the 20th century in some forms of statism doesn't actually allow them to do it because it's an unmitigated failure. There's no way they can talk themselves out of that. Right. Uh, one of the things that I meant to mention this, one of the things that really shocked me, I was surprised, I had heard again, because Jean Epstein said it in his debate. Jean Epstein, during the debates, it's something like, well, we know that you, Richard Wolff, denounced the murder and the, and the deaths in the Soviet Union. You've written a book about it. So I assumed from that that Richard Wolff was, was denounced Mao and denounced the communist bloodbaths in all these places. And, and that, that, so I was actually surprised when he mentioned, you know, how wonderful Mao Zedong was and the extent to which in this debate, he was an apologist for the murders in China. Now think about this. This is not controversial. This is not me going out of some limb and, you know, conspiracy theory. This is standard history today. Is that Mao Zedong, either through both, through incompetence and through malice, his policies resulted in the death of anywhere between 40 to 80 million people, 40 to 80 million people. I posted a couple of articles on this in Twitter, I think yesterday. 40 to 80 million. I mean, he is of the three most vicious murderers of the 20th century. He is the worst in a sense of numbers. Now, maybe it's a smaller percentage of the population.  You know, Hitler, Stalin, Mao, of all of them. Mao Zedong is the most murderous. And I, you know, wasn't really prepared to push that because I couldn't imagine that anybody would deny it. It is a it's so well documented, not just by Americans. It's documented with with documents that were smuggled out of China in the 90s. In terms of Chinese academics, the Chinese researchers, the stuff they discovered in the vaults when things freed up a little bit. And while Mao is revered by people who don't know and don't understand, but the academics in China, the people who are researchers, the people who they know what he did, they don't revere him. They revere him for political reasons, but they don't actually revere him. They know how incompetent. I mean, it's like Deng Chaoping. Deng, by the time he became president, he used to be Mao's right-hand man. He has lots of blood on his hands, but the time he became, you know, the basically the the territory in charge of China, he knew how monstrous Mao was, but he had to keep up the facade in order to keep the party in power. So Mao is revered by the the ignorant because they don't teach how much of a monster he was. But for an American academic, I don't care if you're Marxist or not, for an American academic not to know and to reject or deny suggests evasion of such a scale that you have to say this guy's evil. This guy's willing to go along with the motor of 80 potentially up to 80 million people, 80, 80 million. It blows the mind. And then for people to treat this guy as civilized. Now, I know I'm never going to debate Richard Wolf again, because after what I'm saying here and after the debate, he'll never agree to debate me again. But to treat this guy as civilized as a civilized adversary, I would never get on stage with him again after his willingness to defend Mao Zedong. It's it's murderous. This is what evil looks like. This is what evil looks like. So anyway, that that did surprise me, that did shock me. And you can look it up. You can just you can look it up and you can find from the 1990s in particular articles that will just call your butt.  And then the millions who died during the Cultural Revolution, from which Deng also suffered because Mao sent him to be reeducated in the countryside. But but the amount of people were murdered. I mean, the stories of cannibalism because they were both starving and in a motorist rage, it's just astounding what the what the red gods on the behest of Mao did and that anybody, anybody, never mind somebody with a job at a university would defend their actions is beyond sick. Imagine if somebody defended Hitler. How long would he have a job? Imagine somebody defended Hitler. How long would anybody debate him? How long would anybody be willing to appear in a stage with him? Just despicable, truly despicable. So. Yeah. So it turns out, you know, Richard Wolf was not my my preference as a debating partner. I had suggested some other people to the University of Pennsylvania. It turns out that all the other people I suggested, including Cornel West, who I thought I think would have been an interesting debate and a much more challenging debate. I'm not sure how that would have gone. It would have gone very differently. But Cornel West wanted like, you know, what eight times more than what they ultimately paid. Stephanie Kelton, MMT, Stephanie Kelton wanted also like four times. So they were just way more expensive. And Richard Wolf was willing to do this for whatever I was getting. And since I was getting something very reasonable in terms of what the students could pay, you know, it's. It was something you pen could could pull off. But I'm looking forward. I'd love to debate other socialists, other status, you know, postmodernists, whatever, I'm happy, happy to debate anybody out there who who is anybody out there who brings an audience. I'm no interest in debating Joe Schmo. Thank you for listening or watching the Iran book show. If you'd like to support the show, we make it as easy as possible for you to trade with me. You get value from listening, you get value from watching. Show your appreciation. You can do that by going to Iran book show dot com slash support.  Also, if you'd like to see the Iran book show grow, please consider sharing our content and of course, subscribe. Press that little bell button right down there on YouTube so that you get an announcement when we go live. And for those of you who already subscribers and those of you who already supporters of the show, thank you. I very much appreciate it.


Hello my friends welcome back to another vlog. So today I'm going to be doing the very first in my back to school I guess series. So it is currently Sunday night the 28th and tomorrow morning super early I'm going to be moving into my new classroom. So as far as plans go I'm just gonna give you guys like a timeline. So I live in Arizona I live in teach in Arizona and my first official day back at work is July 7th. That is the day that I go and pick up my laptop and submit paperwork. I've already signed my contract I've accepted positions and all of that stuff. So on the 7th I actually go and take in like transcripts direct deposit forms things like that and I pick up my laptop I get my badge photo done things like that and then the rest of that week I begin new to the district trainings. If you guys are either new here or you haven't been watching for a minute I am moving school districts. I worked in the Mesa public school districts before and I am moving out in the Queen Creek area. I was commuting for an hour two and an hour back to work so two hours a day of driving and my commute is changing to about a minute to two minutes every day. So I'm really happy but anyways so that whole next week starting July 7th is all of my new to the district trainings. I'm going to be in like curriculum trainings for science. I don't know if I have a curriculum it says classroom resources so I'm assuming I don't have a curriculum but things that I can use that the district has and then just basic district trainings. So starting on the 7th I will be back at school meet the teacher night is going to be the 20th of July and then the first official day of school is going to be virtual the 22nd and 23rd and then students will return to campus July 27th. As far as the back-to-school plan goes I'm going to save that for another video because I really just want to make this one about moving into my classroom. So tomorrow's the 29th I'm going to be moving into my classroom. So this is all of my Amazon stuff sorry guys my kitchen those are clean dishes it doesn't matter. So this is all of the stuff that I either purchased on Amazon or brought home for the summer so like this is a big box of like student supplies like crayons and things that I didn't want to melt in a storage unit and then just like other things that I brought home for virtual learning and then also my Amazon stuff so I'm probably not going to be able to fit this rack in my car but everything else I should be able to fit in my car so I'm excited it is 750 right now I am due at my school right after 8 is when my principal said that I can come in so I'm just getting things ready here I'm eating breakfast um which really is not a lot um and I'm trying one of these Elani new energy drinks I saw Kim on elementary in the mitten drinking these and then I asked my workout buddy about them and she's like oh yeah Elani news a great company so I have their pre-workout this is the first time I'm trying one of their energy drinks so I'm putting it in a koozie here so I can keep it cold um I have a yogurt smoothie that I'm eating drinking and I'm eating three hard boiled eggs and that's my breakfast yeah very nutritious I'm also drinking a skinny tab I'm going to try to have this drink before I leave the house my school is only two minutes away so she said come by after 8 so I fixed I figure if I leave like right after 8 that I'm not like here I am um I'm gonna stop talking and get right into the moving vlog so here we go hey you guys so I'm in the car I'm gonna I'm gonna vlog driving to school and I'll tell you why oh that's a spot on my car that I don't want there um I'm gonna vlog on my way to school because I want to physically time how long it takes me to get there from like leaving the driveway to parking in the parking lot just got an email from my principal saying hey girl the door is open for you this is your classroom number please take the elevator they just painted the stairs so I am headed that way it's 8 15 now and I just left the garage so the plan today um I'm gonna drop off this small load of stuff and then I'm going to come back to the house pick up Scott he's taking cash to school we're gonna go to get the u-haul we'll go load it we'll come empty it and then that's it for the day there's no like hanging out there's no like setting anything up or unpacking anything everything is very like you come in you drop off you go um she's in a meeting so she left the door open for me um and so as of right now there are tables in there but she did say the tables will be going and desks will be brought in and that is all just for the distance um social distancing for the kiddos I was going to have tables she had tables put in there for me but with all of the stuff going on she had to take the tables out so that sucks but it is what it is so I am here and it's 8 16 um I haven't parked yet but I am here so it took me a minute sorry it's it's 8 17 I haven't parked yet 8 17 but I'm here so I'm gonna go ahead and start taking stuff in if I see my principal that'd be great if I don't it's okay I'm just here to move stuff in we're here so this is my new classroom I like it a lot so far so I'm just gonna give you guys a quick little like toury thing and then I'm gonna start moving stuff I got a cart so now it's just gonna go really fast so I'm here next to the beautiful windows I have three windows in my room I have a big here this one's kind of they're all kind of like up off of the ground so that's kind of nice for like indoor plants like I can put them up on stuff and they'll get lots of light um beautiful view of the courtyard um so I'm in my little teacher corner which I probably won't keep this the teacher corner just because you guys know me um this is the hook up though to the projector as of now I think they're installing different technology I don't know when but this is where you hook up to the projector so my computer will have to be back here which means my teacher corner will probably be somewhere over here but it will look a lot different um have a desk the desk is actually really nice it's just silver I'll probably actually use it as a desk and use my black tables for something else and you have a filing cabinet and right now there are desks in here because that's what I had requested before social distancing needed to happen um so Mr. Greg is going to keep these two tables in here for me to use for either like small group or like demonstration or like a teaching top table so I'm gonna keep these two desks and then I love this you guys stools oh I'm so excited um these are gonna be great the desks are these bigger rectangular desks which is great for science because there's gonna be a lot more space for the kids um and then they can shove their backpack in here which would be great because then they can't lean them or hang them on the stool so they'll be able to like put their backpack down in there and it will be out of the way um so these tables will obviously leave but so here is this wall so I have a bulletin board another window this is a really sweet looking bookshelf like I'm very pleased and it has storage drawers super exciting um probably use this as like a little study nook like put a pillow there I don't know um we have another window and a flag obviously and then we have the big white board space which I love and then a smart board and then there's another spot for a bulletin board here um then we have this built-in storage so this is really nice and big this is probably where I'm going to keep the bulk of everything I'm going to try really hard to cram as much as possible in there because I'm going to try to be very simplistic this year um so that's really nice then I also have this built-in bookshelf which will be great for all of my like dictionaries and storing all of my curriculum that I didn't know I was getting but I got it so this is PhD science it is made by great minds so the same people who made Eureka math um that's what I'm getting so I might dig through these before I leave and pull out like one of everything so I can like start looking at it over the next week or so um but this is really nice nice little countertop and then we've got a little corner here which is where I'm thinking I'll probably put I don't know some sort of like lab space um and then this wall I'm thinking my classroom library is going to go here I don't know yet and then this whole back wall which if I'm going to use this desk as a teacher desk I'm probably going to put my black tables up here and I might get a third one or make it like a like a bar type thing I might go to IKEA and get some like bar top tables because I do have a few stools I could use um but I have this whole back wall to use so that is really nice um I like how the colors are simple the floor is tile I do have a Roomba I do have a Roomba at home that we don't really use anymore and so I'm thinking I'll probably bring her here and just like let it go in the mornings when I'm you know working or like the end of the day before I go home just turn on the Roomba just to kind of keep it down and like make the janitor's job a little bit less so I mean we don't use her at home so there's really no point in keeping her home anyway we've got another bulletin board here and there's a lot of potential for this room I'm really really excited okay so I need to put you guys down and I need to bring up all of the stuff from the car and then I gotta go pick up Scott and get the U-Haul and get this party started because we need to be done by like 12 so we'll see how this goes what's this latest your video taping me is there a dolly in there what he said all right can you drive that yeah yeah can I drive there's our truck right there all right well I'll meet you at the storage unit you remember where it is I'm getting hydrated first so it's been a couple road blocks I forgot my storage unit keys at the house so after sorry I picked up the U-Haul we had to then I had to go back home get the keys go back to the storage unit where they were waiting for me it took like 30 minutes out of our day so Scott literally just left to go home and get ready for work at two he'll probably be late but good news is is we live two minutes from school so he should be able to get home jump in the shower go and everything like that so my friend Nicole's following me and we're going back to U-Haul to drop this thing off and then we will go home and relax for a bit or maybe we'll go to lunch and then we're gonna go to the gym so that is the day I will probably not be back in my classroom until July 7th, 8th or 9th one of those days I'm not positive I know for sure the 9th because I need to report to school that day but we got everything moved in I have a lot of stuff because I found an hour to unload and everything because we had to go up an elevator which was tough so we had to unload walk everything in we kind of started like an assembly line like we had a few carts and dollies and we were like putting the carts and dollies full and elevators sending them up and then Scott was taking them down so it was really helpful to have all those but I'm glad it's over it's done now the real work we will now the real work begins so I'm gonna end the vlog here thank you guys so much for watching if you're not following me on Instagram make sure you do that because in the event that I do go in my classroom and I don't bring my camera I will be showing you guys that on Instagram it is linked down below and I will see you guys in the next one bye