Aloha everyone and welcome to Hawaii Together on Think Tech Hawaii. I'm Kaylee Akina, your host and president of the Grassroot Institute of Hawaii. Well, corruption has always been a problem in Hawaii politics through the years. Across the state, elected lawmakers at both state and county levels have been embroiled in bribery and ethnic scandals recently. And beyond that, there have been many cases of corruption involving the law enforcement officials, business leaders, and many state and county bureaucrats. Rooting out corruption seems like a daunting task. But thankfully, there are people in Hawaii who care about that and are doing just that. And that's what we're going to discuss on today's show. Aloha, I'm joined today by a man I respect greatly. He's retired Judge Dan Foley, who last year was chosen to chair the Commission to improve standards of conduct following some serious corruption scandals at the state legislature. The commission was created to recommend changes that might make Hawaii's government more transparent and accountable and help eliminate the state's culture of corruption that so many of us here in Hawaii abhor. Before retiring in 2016, and I use the term retiring, guardedly, Dan served for 16 years on the Hawaii Intermediate Court of Appeals. Prior to that, he worked in private practice and is well known for his civil rights litigation, including representing the individuals whose case played a major role in the push to legalize same-sex marriage. Dan is also a non-resident judge on the Pulau Supreme Court, a role he was appointed to in 2011, which joined me in welcoming to the program Dan Foley. Dan, thank you so much for joining us today. Appreciate you taking time out of your schedule to be here. Great to be here. Thank you for having me. Well, I've just really appreciated your role in the public in terms of not only the official positions you've held, but in terms of your own advocacy of government that is cleaner and more transparent. Can you tell me just a little bit how you got involved in your passionate advocacy for this? Well, it happened shortly after a number of legislators were indicted, a member of the House and a member of the Senate. And we had ongoing corruption cases at the county level as well. I got a call from House Speaker Scott Psyche, who I've known for a long time. He was a student of mine when I taught civil rights at the law school. And he asked me if I would chair this commission he was going to create. He told me what it would be, who would be on it. And I said, yes. I mean, how can you say no when you have a problem in government and there seems to be a serious effort to address it? I said I would do it. And the commission was created in the 2022 session. And I became chair. When the commission to improve standards of conduct was put together, what was its purpose? What were the outcomes that were expected? The resolution, House resolution that created the commission went through the incidences of corruption and scandal, the loss of public trust. And it directed my commission to primarily focus on the laws that govern ethics, campaign spending, lobbying, and to make recommendations to make improvements to address corruption and to restore public trust. Well, there were quite a few people who were somewhat jaded with the response of the government and the creation of another commission and did not that enthusiastic that it would ultimately result in anything. When you're asked to be part of it, what were your feelings about the prospects of success? You know, I understand that sentiment and we've both heard it. You know, government creates a commission or a board to make a report to put on the shelf as a way of distraction to avoid the problem. And I would not have accepted the appointment to the commission unless I thought the house was serious. And the composition of the commission impressed me. It was the executive directors of the Ethics Commission, Campaign Spending Commission, representatives from Common Cause, Hawaii, League of Women Voters, very respected former legislator Barbara Morrow-Moto, who I got to work with and just absolutely love. And Flo Nakakuni, the former U.S. attorney. So I figured with a group like this, with a track record for open, transparent, honest government, independent, working with them, I thought we could actually come up with something meaningful. And I got the commitment from Speaker Psyche that the house would address it. Well, now that you look back, the commission's work is finished. I take it. How do you evaluate it? What came out of that? Well, we submitted a report that ran 396 pages, and that did not include all the documents that you can find on the house web page that we utilized. We recommended the passage of 28 bills to increase transparency, accountability in government. Of those 28 bills, 20 passed in some form. Some became part of the House and Senate rules, administrative manuals. But you've been around. To have a commission submit a report, recommend 28 bills, and the first session to have 20 passed. That's remarkable success. Now, there are at least eight measures, significant measures that didn't pass. But this is the first regular session, and there's another one coming up. Now, I've read columns and seen comments of big failure, nothing accomplished, can't trust the legislature. And I just addressed the League of Women Voters a couple of weeks ago, and I compared it to an NBA game. We're at halftime. You know, we finished half the work. We had a good first half, 20 of 28 ain't bad. And now there's a lot more to do, significant bills to do. We have another regular session coming up. Let's continue to engage the legislature, work hard, and finish the job. That's my view. So I'm encouraged. I do think we have made progress. The governor, I believe, will sign the bills. The governor's also said he will take executive action to address areas where bills have not yet passed, maybe like access to public records. So I was very pleased with the results. Representative Tarnas, who chairs the House Judiciary and the White Affairs Committee, conducted public hearings on every single one of our bill and passed out all but two. That's pretty remarkable. Well, I'm glad to hear of the positive results so far. But as you say, it's part of an ongoing process. But a good start, at the very least. Now, the commission's formation was on the heels of a period of time when we were watching reports about corruption on almost every news broadcast in the evenings that were a period of time. We learned about our former legislators, our former Honolulu police chief, his wife, and other notable individuals. It seemed as though Hawaii was going through quite a period of crime and corruption in public government. Was that the case or was it just a passing episode? I think it is the case. And the U.S. Attorney's investigation is not over. I expect more indictments to come down. Possibly another legislator to more uncounted government. So we're not finished with the investigation prosecution. One of the things we recommended that the legislature passed, we recommended three bills to address corruption, fraud, false claims, and false statements, modeled after their federal counterparts. A lot of people ask, well, why is it the federal government doing this? Why not the state attorney general? Why not county prosecutors? Well, for one thing, the federal government has better statutes to utilize. And we, working with the FBI, the U.S. Attorney's Office, the state attorney general, all four county prosecutors, we crafted three bills, modeled after the federal bills, all three passed. So I do expect not only the U.S. Attorney's Office to continue their investigation prosecution, I would expect more activity from the Attorney General's Office and the four county prosecutors. Part of the collection or package of recommendations from my commission is to make government more transparent, to make it more difficult to have some of the conduct. Some of the conduct that we've read about, especially with the legislature, came from lobbyists. So we've had a number of bills passed and some signed in the law already by the governor that makes it very transparent relationships between legislators and lobbyists, what lobbyists are working on, prohibiting lobbyists from making campaign gifts.  Corruption is never going to disappear, but we're going to make it more difficult and we're going to make it riskier and we're going to make the penalties more severe. We're out here in the middle of the ocean in Hawaii, the most isolated archipelago on earth and certainly distinct from the contiguous other states in the United States. How does the corruption you've seen here in the state of Hawaii stack up against corruption in other states or even in Palau for that matter? Well, Palau is great. They are really serious. They have a special prosecutor committed just to rooting out and prosecuting corruption. And the number of the cases I've sat on is convictions and reviewing those convictions. So Palau is doing a great job, is taking it very serious. I think we're doing better than the mainland. I had a former law partner who got a master's degree from Tulane and watched a race for mayor in Louisiana one candidate for sheriff said, of course, I'm not honest, but at least I admit it, you know, so we have you're better than that. Yeah, we have New York, et cetera. So I don't know how it compares to the mainland. I don't think that's really important. I think whatever we're happening in here is we can't tolerate. And let's become the cleanest, most transparent, most accountable government in the United States and in the Pacific. Why not? Well, is it getting better or is it getting worse? As you look at Hawaii's history since statehood, let me give you that marker. You know, let's take the Bishop of State, for example. Yes, yes, exactly. Bishop of State operated as it did forever. What changed, though, was the culture. Not so much the way Bishop of State operated. But all of a sudden, people said, enough is enough. That type of behavior is not acceptable anymore. The Supreme Court, as you know, was caught up in that. It is accounted in Randy Ross Broken Trust. And Randy, who I love and I'm sure you do, testified before our commission and he said, it's really a matter of culture. We have to change the culture. It's the old way of doing business. Closing your eyes to wrongdoing, not sticking your neck out. When there was corruption in the judiciary in the 80s, the whistleblower on Kaby Kamino's stand and Fatboy Okuda of a lot of payoff and between the judiciary and the legislature and members of the executive branch, I brought the whistleblower lawsuit on behalf of the deputy that reported it. He couldn't find another lawyer, including a Republican lawyer, to take the case. And a number of cases I've taken when I was a lawyer is because other lawyers wanted to avoid controversy when I took the Save Sandy Beach case. That's when Bishop of State was strong. No other lawyer would represent that coalition. So I took it. So I think it's a matter of changing the culture. And I think this commission's a beginning. I think holding people accountable for corruption is the beginning. So I think that's good. Dan, that's an interesting thing, the culture. But who creates this culture? Is it created by politicians, by political parties? Is it created by the general public, by businesses, and so forth? How do we actually end up shaping the culture? I know that the commission is recommending laws and legal measures and so forth. But what really brings about the culture that we live in that tolerates and even fosters? Well, you know, an answer to your question, it's really all of the above. All of that, all of those contribute to what we have. But ultimately, it's the voter. People complain about the legislature that'll say the presiding officer is a dictator or the chair of the Ways and Means or five enhanced committees a dictator. Everybody in the legislature has one vote. People are unsatisfied with the presiding officers because the majority of that body allows it. We're same with the chair, we're same with measures. And the voters put them in and keep them in every two years. Businesses will do what they can to prosper. Government officials will get away with what they can get away with. Many of the proposals that we made and that are being passed will make those things more difficult to make it more transparent so the voter can cast a more educated ballot to make dealings between businesses, lobbyists and legislators more transparent, which hopefully will make that more honest to make government officials and employees more accountable for their actions and to make their actions more transparent so if they go wrong, they will be held accountable. So it's our desire from the commission, our proposals and I think we have made some progress to address all of that. But ultimately it comes down to the voter. And one of the things that bothers me, you said and you alluded to it. A lot of people say, oh, this commission report won't mean anything. Whatever the legislature will do will mean nothing. Well, that plays into the cynicism of the voter, the disillusionment. We have the lowest, one of the lowest voting turnouts in the country. So my whole message is, let's get engaged. As bad as it is, you mentioned the same sex marriage case. I took that in 1991, not one state, not one country in the world had same sex marriage. 70% of the public was against it and that's probably a modest evaluation. What were the odds? But you roll up your sleeves, you get to work, you be positive, you don't give up and you can accomplish a lot of things. 50 states, 30 countries now have it. I said, why can't we do the same in cleaning up our government? Just because it's been, let's say, a little less than honest and transparent in the past doesn't mean it can't be honest and transparent in the future. Dan, the commission came up with dozens of recommendations. And as you mentioned earlier, many of them have made their way into legislation and will soon perhaps be signed by the governor into law. What's one or two really good bills that you feel were passed that will make a difference? Well, the one I mentioned, the sort of trio of fraud, false claims, false statements, giving our state and county law enforcement the tools to join the US Attorney's Office, investigating and prosecuting corruption. I think the trio of bills that deal with lobbyists to make lobbyists disclose all measures they're working on by bill number, by measure number to prohibit them from making gifts to legislators. For legislators in their financial disclosure to disclose all relationship with lobbyists, they're simple things that could have an impact. The League of Women Voters pushed through a voter's guide as a digital voter's guide. So we have a more informed electorate. One of the things that the public doesn't fully take advantage of that they could, and I'm sure you do. The legislature has a very transparent website. I started going to the legislature in the 80s where everything was hard copy. It took you all day, every day to track something. Now it's at your fingertip. But some of the recommendations we made that haven't gone through yet, some of the committees are doing it, other committees are not, have public testimony available far in advance of the hearing. The sort of fiasco we saw with the budget to have that not repeat again, to have measures out there before they come up for a vote so the public can inspect and respond. Some of the bills that are pending in the legislature that I think are important but haven't passed yet is public financing of elections, term limits where there's a difference of opinion. No campaign contributions from contractors, grantees of public funds, there are officers and family members, two candidates. Use of campaign funds. One thing we recommended right now are you can take campaign funds and you can spend them just about on anything. You can give it to organizations, you can give it to scholarships, you can give it to other candidates. We said campaign funds should just be used for the campaigns of that candidate. And that's pending, although it's in a sort of unrecognizable form. But I did write an article, it was in the Honolulu, the advertiser a couple of Sundays ago that did summarize all the bills that passed, all the bills that are pending and I encourage anybody to read that. Well, Dan, what were some of your disappointment? So where did the legislature let you down? Term limits not so much. I proposed a limit bill that was recommended by the commission for three. And even though there's split of opinion, I thought it was necessary to restore public trust. I think the public really wants it and they want to vote on it. So I would like to see that move. Access to public records was a disappointment. Right now, access to public records depends how much money you have. People with money can buy their way in, people without money cannot. So we recommended a bill in 2022 that was passed and vetoed by the governor that reduced the cost to access public records, made electronic records free without cost, and if they were in the public interest to make them free as well. That passed the House but his problems in the Senate is now his conference committee. Since it passed the year before I was disappointed, it didn't pass some of the concerns some state agencies raised, we thought we addressed. Solicitation and acceptance of contributions during a session, we recommended last year no fundraisers during sessions that passed. But what didn't pass was soliciting and accepting funds during session that hasn't passed. I would hope that would pass. Well, one of the problems with that bill now, last year the legislature expanded it to all elected officials, not just legislators, can't have fundraisers during sessions or all elected officials can't solicit or accept funds during session. Our recommendation was just legislators and candidates for the legislature. Not simple bill. I think that should pass. The contribution from people receiving public funds, whether commercial or non-commercial, that should pass. Campaign funds should be limited to campaigns. So there are some significant measures and I do think there's some interest in the legislature. I don't think we should throw our hands and give up because they didn't pass in the first session. You've been around, you know quite often a bill will be introduced in one session. It may take one or more sessions to have it become law. So, you know, disappointed, not every single proposal as we recommended didn't pass as is in the first session, but that's the legislative process. And you just keep working until you get the rest and that's what I intend to do. Dan, you mentioned conference committees and that made me think about the fact that this year there was a lot of concern about how the state budget was passed. One lawmaker even said that things were added to the budget even after the conference committee voted on it. Did the commission come up with recommendations on how to combat these sort of back room deals? Well, we discussed the sunshine law and that applies to the county councils and executive agencies. And one of the problems in applying it to the legislature which would address the problem is that the legislature meets in a short session 60 days with short deadlines. It just isn't practical. Even Brian Black was probably the biggest advocate for transparency for the Civil Aviate Law Center, recognized, but as many principles as a sunshine law should be adopted. And the budget is probably the best example of a need for reform. That should never happen again. You can extend a session, you can come up with your draft budget earlier, not wait to the last minute. People should not be voting on measures. They haven't read. Things shouldn't be added to a measure. I don't even know if that's legal after it's voted upon. So the budget this year is sort of the poster child on not how to do things. And that shouldn't be repeated. I hear part of the problem was we lost Sylvia Luke who's a master of the budget and we got a new budget chair, not to blame him, but it's not a matter of individuals as the process. We in discussion said that the public should have access to these discussions on the budget. Should be able to see what's being proposed and being discussed. And I do think the House should take that up in its rules. Dan, do you think it would help if members of the public were allowed to testify before conference committee? I never against public input. That's always a good thing. And to the degree that that can be accommodated, it should be, especially the way conference committees operated. If they significantly change a bill, public should be able to see that proposed amendment and respond. So I guess the short answer is yes. And the legislature should think of a way to accommodate that either by to put it all out there to have a break, to have the discussions public we wanted discussions public in the constitution that talks about meetings of the legislature being public. So you don't have to adopt the sunshine law to just have your committee hearings more transparent. Now the conference committee, especially the budget conference committee was the opposite of transparent, but I can tell you this much. I spent most of my time appearing before the House and Senate Judiciary committees. And they were very transparent what they recommended. They gave good reasons for, if they were going to defer a bill, they said why and their decision making was reason and public. So I would like to see more committees follow the model of those two judiciary committees. Well, that sounds great. Well, Dan, you've provided such a great amount of insight. I appreciate it tremendously. We've got one minute left and I want to give it to you to tell us exactly what do we need to do to help bring down the rate of public corruption in Hawaii and to be the transparent government that we need to have. Well, I think there's some great organizations, the Ethics Commission, the Campaign Spending Commission, Common Cause, League of Women Voters to participate in, to follow. Civil Beat has done, I think, a very good job in covering the legislative and government process and misdoings. But ultimately I think is to pay attention, engage your legislator, see what your legislator is doing because legislators respond to their constituents. And you look at the legislative election districts, you only have a couple of a thousand votes here and there. A few hundred people in the election district stand up, they can make a difference, they can get the attention of their legislator. I know everybody's busy, people have two jobs, they have to take care of their kids, there's so much to do. But as much attention you can have on your legislator process, on your administrative agencies, on your government, what's the effect to you? Your city council, look how the public's responding to the pay raises at the city council. That's a great example of citizen action and that may make a difference. Well, very good. Well, thank you for your call to civic engagement and thank you for your work on building a more transparent government here in Hawaii. Dan, thank you for being with us today. My pleasure, thank you. My guest has been Dan Foley, former judge and still a very strong figure in helping Hawaii become what it needs to become. I'm your host, Kelea Akina. You're watching Hawaii Together on Think Tech Hawaii. Until next time, aloha. Thank you so much for watching Think Tech Hawaii. If you like what we do, please like us and click the subscribe button on YouTube and the follow button on Vimeo. You can also follow us on Facebook, Instagram and LinkedIn and donate to us at thinktechhawaii.com. Mahalo.


This is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now. Toll free at<PHONE_NUMBER> or internationally at<PHONE_NUMBER>. The TFNN Bull Bear Training Hour. Now, Tommy and Tommy O'Brien. Welcome folks. Appreciate your garrel and problem with us out here. We have the Dow Industries up 114. Nasdaq up 73. S&P up 18. Gold contract up $10.30 straight and at 12.82 an ounce. We've got Silver up 25 cents. $14.79 an ounce. Lightsweed crude flat, $61.94 a barrel. Notes and bonds. You get the 10-year note up 8 ticks. $123.13. 30-year bond up 19. $147.17 and $king dollar. $king dollar down 111 ticks. Trading $97.475. The Euro is trading at a price point of $111.20. No, let's see. Euro is trading. Where are you? $111.77. Thank you. $111.77. The yen is at $111.28 and the pound is at $130. And welcome to No Risk Friday, folks. So No Risk Friday, No Risk Monday. This is a joke inside the den. One of our tigers is that it seems like every Friday and Monday. Bottom line. That being said, that was so cool about that. And that's why I said it in general. Well, I said it for a couple of different reasons. But what you do have with the S&P right now, okay? So check this out. So if we take a look at this S&P, you know, great jobs numbers. I was waiting for, we got to get to it. And the show started. You're talking about inside jokes in the den. We haven't said why it's No Risk Friday. There's no doubt. If you get 3.6 unemployment on any Friday, there's very little risk being long in the market. Yeah. Except if they start jacking up rates, but that doesn't seem like what's going to happen. Right. Now that being said, the S&P is coming right into the downdraft of yesterday. So it's going to be intriguing to see, you know, if this baby can... Of Wednesday, maybe? Of Wednesday. Thank you. Yeah, of Wednesday. So this is going to be the battle line. That's the battle line that's set up. There's no doubt. Jobs number, folks. This is, it says the lowest unemployment is 1949 or something. No, it's 49 years. Yeah. It's pretty quite a number, man. Yeah. Yeah. Quite a number. Gold getting a pop, right? Yeah. Yeah. That's a good pop on gold, man. I mean, it looks like what you're going to have here, you've got 174,000 contracts. That's a good contract volume. So we'll do, you know, 274. We'll see whether it'll push 300. It's going to be close to push 300. Can we pull up the chart? After we... The 10-year yield. Just start typing 10-year yield. Yeah. Just even 10-year... I want the yield. There we go. Yeah, there you go. I just wanted to see the action this morning on that jobs number. If there's a spike one way, yeah. Look at that. A little bit ahead. All right. So where do we go up to? About 2.573. And we're sitting at 2.52. Pretty cool. Yeah. Yeah. Definitely. Lower rates, I'm cool with that. Yeah. No doubt, man. We're all addicted. Some of the higher volume equities out here, I will see whether they get volume out here. That's the one I want to bring up. So you got... Well, look at this. This... Where is it? Beyond me. Yeah. This is something else. I was telling Bessford about this yesterday upstairs. Yeah. This is... So this... This company we started was funded by Gates and Leon DiCaprio. Leon DiCaprio? Yeah. And then, you know, they got a lot of other people involved. I'm sure. But I remember Gates being... Yeah. When that came out that he was an investor of some level in it. Right. Now, look at this. We haven't seen... I definitely haven't seen a pop like this in, I bet, ten years. So it went public at $25. Yeah. I think the first trade was 46 or 42. Yeah. Exactly. And then it goes up to 72. Right. I think it was hit 72. Well, look, it had 74 today. Oh, no. It's 74 today. That's just... Yeah. 74. So yesterday it hit 72.95. Yeah. And this is like a monster number, man. I mean, we'll see whether, you know... Yeah. And they lose a lot of money. But the expansion is pretty dramatic also. The growth. Yeah. The growth of people's style eating beet juice. That's... They put beet juice in it to make a bleed. Okay. Yeah. This is an article... But they have competition. I think I may have had one of their burgers. I'm not sure. Yeah. But they have some great options for veggie burger style these days, you know. Right. In terms of I think they call it the amazing burger or something. And it might be them. There's a lot of restaurants that carry like... That's here. That's... We'll look at it. Yeah. But they're out. That's what the article is about. There's a lot of restaurants that have it. Sure. Not just them. Right. Right. And then on the flip side of that, because I was talking to Bess from the upstairs yesterday, the guy I work with.  Do you remember a couple weeks ago, that article about... Was it Walmart? Right? Building their own supply chain for cattle. And they were actually saying, like, you know, there's other options coming into the market, but we don't see meat decreasing. Right. Like it's actually just adding to... Because you read that article about the amount of meat that we eat per person. Exactly. It's like a monster number. It was a monster number. And even as the trend goes to an opportunity for companies like that, for more vegetarian options, people are still eating meat to a staggering level. Yeah. And there's more people. Because I think it was... It was like a pound every... What was it? Pound every... Yeah. It was. About a pound every week? Yeah. Because I was breaking down. I was like, that means you're eating like an eight-ounce steak twice. And this is just red meat. Yeah. We're talking about chicken, fish. Right. And I like red meat. But that's a lot of meat. It's a lot of meat. There we go.<PHONE_NUMBER>. There's no doubt we get... Well, you get action everywhere here. That's the real bottom line. The dial seems to be giving it up already. So we'll see where this is going to shake out. You know, the dial... You had a high out here today of 473. That was... Well, it's 70 points higher than we were right now. Yeah. The dial looked a little bit different. When I did that 10 o'clock update, the NASAC and the S&P were both at highs and the dial wasn't quite there. Look at the... You know, you don't have a lot of dial stocks taken away from it. So it's showing that there's not real strength there. Yeah. You get Microsoft putting 11 positive points. Goldman putting nine. Apple putting eight. Taking away from it. No big deal. Cisco three. You know, dialed upon to two. So what you have inside of that, when you see a low number like that, is that it's like slight buying and slight selling across the whole market. Pretty calm. I think I said yesterday that I hadn't seen a day in a while where no stock was putting more or less than 15 points. And on that, it's like 11. So it's even more muted. You know, we take a look at the NDX100. You got Makata Libre. It's a little bit more volatility on both sides. Look at it. Up 18 points. That's an all-time high. 18%. Yeah, 18%. Yeah. 88 points. Yeah, exactly. Look at this. So where is this? Let's see. This got a market cap. Where are we? $28 billion. $28 billion. Not bad. Yeah. Look at this move. Yeah. And what is it? What are they? Come on with earnings? Yeah. Come on with earnings, honestly. Crushed the part. Yeah, they did. They did. Some of those numbers were like, yeah. Well, there. So revenue, 473 versus 421. Yeah. That's quite a beat. Yeah. It's more than 10% above, right? Yeah. Look at the, they were looking for a loss of $0.11, and they made $0.13. Wow. Yeah. Remember? Yep. Over $0.11. It's just like. And it may have even been worse than that, because this one has consensus of a $0.13 loss. So they were supposed to lose that.  If you're only taking $20 million, and you find an extra $52 million. Totally. Man, that'll change your profit loss probably as long as you have some margins. Yeah.  So what do they do? This is like just a. Trading site for Latin America. Right. This is like an ebay. Yes, exactly. Exactly. So fixed price or auction. Yeah. You have classified ads, motor vehicles, vessels. Okay. Yeah. Craig's, this is a million of them. Right. Some online marketplace. And you can see that growth. I know. Look at that. And I wonder. I was just going to say, I wonder if these numbers reflect what they just came out with, maybe? Or, you know. Yeah. Because you can see that it was 473 they came in with. Yeah. I remember it was projected at 420 something before that. Exactly. So there it is folks. Tommy and I are coming right back. We have the Dow Industries right now down 70. Up 70. Nasdaq up 68. S&P's up 50 and a half. Come right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. 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TFN.com, educating investors. Call now, toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Folks, Dow, Dow Industries up 81, Nasdaq up 75, S&P up 16. And, you know, you get some heavy problems inside the hog market in... You can have eaten meat, right? Maybe this is why Beyond Meat's doing well on their IPO. That's a joke. I love meat, man, but, you know, this is... And it goes both ways, as in, lettuce gets contaminated. You know, people are vegans and vegetarians, and I've gone on my kicks, and when they hear this, like, oh, meat, that's why vegetarian can be just as bad sometimes in terms of those lettuce deals. But this is pretty intense, man. So pig Ebola virus and shockwaves through world food chain. African swine fever in China will impact global food supply. So it starts off pretty... I said this is the stuff movies are almost made of, man. In terms of last August, a farm with fewer than 400 hogs. You can see the movie, right? Stolen to a small little farm, like one farmer with 400 pigs out there in the middle of China. On the outskirts of Shenyang was found to harbor African swine fever, occurrence of the contagious viral disease in the country with half of the world's pigs. 47 had died, triggering emergency measures, including mass culling. So they tried to cut this off completely, right? In terms of all of those pigs, there's only 400 on the farm. They did that in days. Yeah. But it was too late. It was too late. So it reads down here, it was too late. By then, the disease had literally gone viral, dispersed across hundreds of miles of sick and animals, contaminated food, and in the dirt and dust on truck, tires and clothing. Nine months later, it's nationwide, cross borders to Mongolia, Vietnam, Cambodia, and the numbers are staggering, man. So China has 440 million swine. They estimate that a million have been culled, but slaughtered data suggests 100 times more, which would be 100 million. Will be removed. Will be removed. And so the U.S. Department of Agriculture forecast in April a decline of 134 million. That's equivalent to the entire annual American output in terms of how big China is. The world's worst lump since the department began accounting China pigs in the mid-1970s. So let's see, China's hog output, 20% slide in 2019 to a 17-year low. So that's the hog output. And yeah, look at that drop-off, man. You're going back to poof. And I imagine that can affect a lot of things because they're feeding, right? Imagine you're taking that out of the market. You have 100 million that no longer need feed.  Reminiscent of Ebola in humans. Man, that's pretty sick. The 100-pig especially critical for China with the 128 billion pork industry in the world's third largest per capita consumption. Man, so they eat a lot of pork as well over there. Per capita pork consumption almost tripled the global average. The U.S. is at 23 kilograms per person. China all the way up at 30. Look at the EU doing their cause up there. Yeah, that's interesting, isn't it? Yeah. So let's see, their hog herd made decline as much as 30%. We went over maybe 100 million plus. China will clearly need to import substantial amounts of pork and likely other meat and poultry if I demand. Chinese meat purchases may also boost sales of soybean meal, source of livestock feed, all over the place. Wholesale pork prices in China are already 21% higher than a year ago, man. What is the code for all those commodities? We have a new code for commodities. GLCO, I believe. We'll have to get what that stands for, but that's the... Oh, global links? Global commodity. No, that might be it. GLC, maybe it's... Let's just sit and enter. What'd you do? Whoops. I think if you just sit and enter. There you go. Okay, cool. So let's find these hogs. There you go. Right down... No, no. Cattle. Let's see. It's going to be somewhere in there. It's going to be agriculture. Click on agriculture, yeah. There you go. Down the bottom. Very bottom. There we go. Okay. So you get 93 cents a pound. Price might be going up. Yeah. Not to talk about where do you think that started to become a realization, right? Yeah, right. In terms of, like, February. Yeah, you can see that it's pushing with volume. So you have a consolidation at the top, but that's 99 cents. That's what you really see, man. If you have an inside track in terms of understanding the fundamentals in a world... Especially in commodities. Oh, right. That's what I mean in commodities, where they said last August, people knew then the first time. Can you imagine the first time that that was reported outside of that farm? Yes. It's like, whoa, you buy hogs right now, because if this starts going into the next one, the next one... Now, China, I imagine, was not very forthcoming when they started to get those early on, but I don't think there's any denying once they start having to have that account of the hogs or whatever it... Yeah, so look at what you have. You get... That's 18. So this has always been a lot of consolidation.  Okay. Wow. That might be about to change, though. Yeah, because, well, I guess in both cases, though, right, then people can get scared about eating it, too, right? Yeah.  I mean, the disease is so bad. And they said that the disease actually doesn't affect humans, was somewhere in that article. But guess what, man? Ebola pigs? I mean, not to... Yeah, exactly. You don't have to say, you can only wrap itself around so much. It's bad enough, chlorine on bones. Yeah, you're eating an animal already. Exactly. I'd like mine to be Ebola-free. No, it's... I said, you got to watch out for that. I mean, we saw it in lettuce, man. In the same year, you got to watch out for that. That was everywhere. It wasn't the lettuce. It was the other thing, the... Romaine? Romaine. Yeah. Other lettuce. Just Caesar lettuce, yeah. Yeah, exactly. Yeah.<PHONE_NUMBER>. Let's go take a look at Amazon. So the big news on Amazon is that you're buffing finally buying it to Amazon. There we go. Amazon's up $56. And that's going to break its high, I think. Let's see. So the high up there is what, $19.56? Yep. $33. We're up at $58 already. Let's see what they have to say. How much is he putting in? I don't know. We'll find out. Let's see. Okay, that's... So this is Buffett's weekend, I believe. This is the big weekend in... Idaho? No, he's in Iowa, wherever he's at. Okay, Iowa. Iowa. So this is the big meeting. So Buffett says that he underestimated Amazon Jeff Bezos, now one of Buffett's deputies willing to put money behind the tech giant. Burke shares been buying Amazon shares, and the purchase will show up in a regulatory file. Later this month, CMBC... Oh, Omaha. There we go. I understand that. I was saying Oracle of... Oracle of Omaha. Thanks, guys. Yes, so we'll see exactly how much they bought.  Like, you know... Oh, sure. You know, so... They just had the $10 billion deal that they gave Occidental, right? So he's finding a few opportunities with some of that cash.  Yes. He does it for 20 or 30 years. Good luck arguing that's a bad investment in Amazon. It's a classic question. Exactly. That's the Coca-Cola. Exactly. You know, that's the... They're never going away. Yeah. You know, as in, I'd be hard-pressed to argue that about a lot of big companies. You know, it's like... Right. Yeah, even Google, you saw their struggles, right? Yeah. It's like, yeah, they have a big dominance. I put them in the same deal. But not quite as big as Amazon. No. In terms of like, okay, somebody could come in and you're seeing it. Amazon's coming in and taking some Google traffic. Exactly. They're advertising, right? Versus Google can't just make warehouses and start taking Amazon's traffic. No. Yeah. No. There it is, folks. Tom and I are coming right back. We have the Dow Industries up 77. Nasdaq up 75. SAP's up 15.5. Come on. Hi, folks. 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The Art of Timing the Trade Chart is designed to help you when scouring the markets for stocks, just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day, unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Chart today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the page of TFNN.com. You know, we stated that beyond meat, this, you know, so the headline is that, yeah, that beyond meat is going to be hammer and Tyson and a couple other, you know, meat companies. I'm sure. The wild thing is that Tyson had owned 6.5% steak and beyond meat and they sold it in April. And I believe the date yesterday, I mean, you're talking about a year ago or something. Yeah, right. I mean, it's May 3rd, right? So that can't be more than four weeks. And imagine, so they invested $23 million in 2016 to 2017. It didn't say, I'm sure we could hunt it, but it didn't say what they invested out, but Tyson had indicated that it was investing in development of his own plant-based products, creating a competitive concern. It's not too big of a concern. I said it's probably, you know, they probably thought, ah, well, what better way to stick it to the competitor to the big giant pulling out and saying, we're going to now compete with you. Maybe the market would have been worried there. No, not so much. And what is, what's this? I wanted to see what the market cap is. Are we in there? Let's see what's beyond. What's going to be there? Beyond. OK, BYND. I want to see what their market cap is because what would, so $4 billion, so 10% would have been $400 million. So 5% is $200 million. So they're looking at, you know, $260 to 10-dag, right? A 10-dag. Yeah. 23. And I wonder what they would have got because let's see, they went public at 25, right? Yeah. So you're looking at, if you were going to get $2.50 at this valuation, you're probably getting like $100 million maybe. Now, look at this. I don't know if this is just up to date, but no one owns 6% of this company. You know? It seems like that can't be possibly right. I know. It doesn't seem right. With it just IPO-ing and that being a skew, I would guess. Let me do it this way. Well, they had management. That was the management. Who's the guy? Seth Goldman, he's been there. Let's do the founder, all right? Yes, yep, perfect. Young guy, man, founded in 2009 So, yeah, because it doesn't even have Bill Gates in there. He's going to be in there. Yeah. We say he could have sold out too. I'm sure there'll be a lot written about this stock in the coming days. That's what I'm saying, 1.6 million shares and that's like zero. Go back to the description if you could. Just DES, I think will get us there. Perfect. So I wanted to see how many shares. So there's, what do you own? That would only be like 2% of the company which does get into... This probably is not updated. Oh, I agree, I agree. It's just fun poking around anyway, right? Yeah. Pretty wild, whole new world out there with fake meat. I know, and they're going to be arguing over that term meat, right? Wasn't there just something in the EU or somewhere else where they said you can't use the term like sausage or a burger or something? The meat industry is worried about meatless products using their sausage or chicken. Oh, for sure. Imagine you start using it and people like it. Yeah, right. That's the number. No doubt. Let's go take a look at some of the high-volume stocks. We didn't make it down that list too far. Yeah, right. You got US Steel, look at that. It's up $1.73, that's been a dog. It's, uh, where is it? Cognizant is down 8.5%. See, Tesla's up almost $10 today too. Seems like they're extending that. They like that Elon is securing some cash. Go ahead on this. Yeah, look at this is a... Whoa, man. Holy cow. This is in two days, look at this, folks. Two days you go from 72 to 57. Yikes. It's blowing away swing points. What the heck happened here? Let's see what we did here. It's earning season. Yeah, so... So, see the fiscal year earnings $3.87 to $4.95, they were looking for $4.43. They gave it a beating though for like... Yeah, I mean that's the fiscal year, so they're guiding down. They missed on the first quarter, $91 versus $103. They're saying they're really going to miss by the 2-0 almost 10% in earnings. Well, they got hammered, man. That's quite a move. That is quite a move. I imagine there's more in there than just those two numbers. Look at this, man. They want to see something with $58 last time we'd volume. Sick when this happens, man. That's where they like to go. And what was the other one? We're going to say 10 bucks today. Elon's got his cheering squad back. Yep. So we'll see where this can shake up. What's the low from 3D or anything? Even just that low on the Marisa bar? No, even... 231 and 231, yeah. Still, I mean that's... So what's that up? $23, almost 10% in like 3 days. And you know what's going to be important here? It's going to be interesting, man. That $252 and your $254 is an important number. Okay, is that any city who's taking it private? I think it might have been. Yeah, we notice it's a... Inside there, all of a sudden, you know, you're inside the range again. Sure, I just try to correlate the chart to Elon's episodes. Yeah, no, there's the 420 deal. I think that's it right there. I don't know. There doesn't seem to be a big enough move. We'll look it up. I feel like it's that huge bar to the right of that. Right here? No, can I just let you... This bar. I mean, you got a bar from 252 to 3... That's right, because it had to be an inch near 420, right? Yeah. I mean, we didn't make it that far. It might be this one. We'll look it up. What's that, October 26th? We'll pull it up at the break and get this. Bottom line is that the crowd hasn't given up yet. So the news is the... I think it did 2.3 billion, 3.5 billion. Oh, there we go, next to 350 million. Yeah. Which is a big deal, you know? I said, hey, you can still raise the money. Yeah. So you got 750 million from selling the stock, 1.6 billion from the convertible bonds, originally up from 650 million, and 1.3 billion. Yeah. So Tesla price did 243 a share, and they're going to pay a 2% semi-annual interest on the convertible bonds due 2024. Mm-hmm. 1% semi-annual. Yeah? It's pretty intense, man. The amount of cash out there is a lot of cash. There's no doubt. They have quite a debt balance sheet going. Man. Elon, it's time to walk the walk. He's talking the talk. But they keep giving it to him, man. Listen, there's no doubt... We'll see what happens, though. I heard a great analysis on the last earnings call, just saying, listen, it was never really a worry that the demand for their Model 3 is waning a bit. And that's a problem, if they ever have to... Yeah, and competition. And that's why. It's like you don't have this uproar of, I need a Tesla right now at all. And that's kind of worrisome when they haven't even gotten to production and they're losing that big push. So 10-year note, you got a rejection of lower price again. These notes and bonds, man, they want higher price. The 10-year, we got down to a price point of 122.20. Rejected it. Still want higher price, man. The 10-year is probably sitting at 2.5. Yeah, 2.527. Yep.<PHONE_NUMBER> We have the Dow Industries right now trading up 98. NASDAQ is up 86. S&P's up 18.5. Come right back. 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That's TFNN.com and hit Watch Tiger TV for the latest market information. Folks, Dow, Dow is up 102, you get the Nasdaq of 85 S&Ps up 18 and a half and we did, it was August 7th and it's pretty remarkable. Can I zoom in here? I can, perfect. We'll give everybody because the second tweet doesn't get enough attention, I don't think, man. And this is his famous tweet considering taking Tesla Private 420 funding secured, period, exclamation point, why not? Shareholders could either sell a 420 or hold shares and go private. In case you were wondering about the nuances of the details, there you go.  Don't listen to it. It's pretty wild. It is pretty wild, man. He gets away with it. It's August 7th and we got the chart up here on one of them. There it is. So it was this run right here. Your initial spike going from, where were we at? About 286-ish and you run all the way in two weeks up to 387.  Maybe they cleared themselves with some of that SEC. Maybe that was the first deal he made with them thinking, okay, he'll be all right. We're not going to lose our CEO for a while. Right. So, you can still see that this is pretty wild, man. Big numbers, though. Big numbers. And then they expect... Let me see this thing here. So, yeah, they're still looking for a loss this year. Yeah. And I think that was... they were always supposed to originally, right, be profitable on this quarter. And that's where they knew they weren't going to be in this. And then he told... We're not even going to be, quote, until next in terms of losing money. And he always seems to push things out a good six months or a year. He says, not right now, but in, like, a year, we're going to get this. Let's go to Paul in Henderson, Nevada. What's going on, brother? Happy Friday, gentlemen. How you guys doing? Hey, Paul? Good morning, man. Happy Friday. Good to hear from you. Hey, likewise. I've been keeping up on some hockey Oh, that's a beautiful thing. There's been some... Did the Bruins end up winning last night? They did end up winning. They won, yeah. There's been great hockey, man. I heard a stat a few days ago. It's probably even higher. It was, like, the 13th. I think the first Bruins game of the series was a 13th play overtime game already. Hockey's amazing how they have those, yeah. Yeah. You know, I never watched it. You guys were hyping it up so much, and I'd been to a couple of sharks games and over here in Vegas, the nights are like the rage of the town. They are. The end of that... I started watching it more, and the games are really exciting. I like it. The end of that series, the Vegas sharks was quite an ending, huh, Paul? With the five-minute major. I explained it to you. They scored, and that was a suspect call a little bit. Anyway, just crazy hockey. So, cryptos, man. Like coin. Hey, Tommy, can you pull it up on the weekly chart? I want to show you guys what I'm looking at. This trade has been pretty unbelievable. It's taken a long time, but I think we're going to get the breakout here really soon. The next leg up, you guys are what I'm looking at. I think we... How do we change this? April 30th. Maybe on the charts. No, that's going to be... I'm on the top right where it says... But right next to the exchange, they will say the time frame that you can move it to. There we go. You can do a year. I don't know how that's going to... Let me click on this. What are we looking at, Paul? I'm not sure I can pull it up that quick, man. So, right there, it says weekly. You can just pull it back. You had it. But anyway, if someone's looking at the chart, what you would see right here is if you pull it all the way back until that big run that we had last year, we had a bottom in Litecoin come in right at, let's see here, $21.50. And then we got the reversal powder. It went long at $40. And what it did is it shot right up into the bar, that huge bar where we had some really good trades in November a couple years ago. And it just... It pulled back, but it pulled back very orderly, and now we have a clean weekly flag that looks like it's breaking out of. And if we get inside of that bar, Litecoin moves so fast that even just a 3-8-2 retracement of the whole entire move down would take it up to about $146 approximately. Wow. So, yeah, talk to us about Litecoin now. How does Litecoin work? Well, it's supposed to be... You know, the silver to Bitcoin is gold. Okay. And we're looking at faster payment systems. One of the things that I thought was pretty good, when I started seeing companies like the UFC was having Litecoin as a sponsor and I started seeing it more in the mainstream as we were kind of bottoming, it kind of gave me more confirmation to go along on these trades. But there is a lot of butt out there right now because of the whole deal with Heather, which we have talked about before, kind of shady situation going on. Right. And it keeps a lot of big players that have much deeper pockets than myself, very like, you know, on guard about the whole entire the market in general. So where do you have your money? Like in Litecoin right now, what exchange is it on? My Litecoin trade is on Kraken. Kraken. So have you and you're hoping that you can get your money back out right? Yeah, no, no, I'm just asking, you know what I mean? Because I think that's just as you said, I have a, because of the so many scandals, I have a hard problem time just dealing with it at all. You can't quantify the risk. Yeah. Right. So Kraken is an exchange, right? Kraken is a US based exchange which I like about it. I've never had a mom get my money in and out. Yeah.  Oh, really? I mean, as soon as I sell the position, yeah, I could just transfer. It's a little weird because what you have to do is I gotta send either Bitcoin or something back to GDAC, the Coinbase platform. I could turn it into cash and I could put the cash into my bank account. No, that's my point. So you have a couple of different transactions to get it back into cash, right? Yes. Okay. I can leave it in USD inside of Kraken but I can't put link to my bank account up with Kraken. No, that's my point. No, exactly. Because until it's in your pocket, it's not, right? I mean, that's the reality. Do you send from Kraken to Coinbase? Yes. And from Coinbase, I get my money out and get right into my bank account. Well, it seems like you get a heck of a trade here, Paul. That's pretty cool, man. And we got it up eventually. I'm not sure if you're watching Tiger TV, but we get it. So you see the big volume bar? I mean, if we start pushing for that, you know... Yeah, that's... There's no doubt, man, that can go for it. I can see what you're looking at, man. So what he's doing here, folks, this was so cool. It doesn't matter because the .382 of a dead cat bounces a monster deal. Yeah, stay right there, Paul. We're coming right back. You got it. Just a quick break. Yeah, pretty cool, right? Yeah, it is. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trade that we Tigers and Tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6, and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. 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As of April 1st of this year, the gold report currently has 8 active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30 day money back guarantee so you have nothing to risk.  Sign up today. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software with the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a 2 week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com Cancel at any time during that trial and pay absolutely nothing. Get your 2 week free trial to Basil's newsletter the opening call today by visiting TFNN.com 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. Dow is up $119,000 except 90 S&Ps are up $21,000 and it looks like that you know market getting a little run yeah and the X100 big numbers definitely we got our man Paul from Henderson we're talking Litecoin and yeah let's you know I want to ask you Paul all these numbers because we talk about volume and of course we've all seen the stories right in terms of the volume being basically just made up churn churn how do you look at that when you look at some of these numbers in the accounting for you know some of those volume numbers in there yeah I just probably not the smartest thing to do but my risk here is 100% like I know that the possibility it could blow up no that's perfect that's not that's not silly or stupid or that's that's exactly how you should do it man because there's you could definitely wake up in one day it's at 40 the next day it's at 20 you already got a double right the volumes that are on the exchange as I'm trading and I try just to say okay let me just focus on trading good set up nice and if it goes then you know that's how you better be doing it because if you're investing in crypto and you have money on cracking going to Coinbase going to your bank account and you're not willing to risk it all at some point then you're not properly there because there's definitely a scenario that it all goes away I think it's a hugely profitable scenario and that's one of the reasons why it is you get the other side of it too with risk or award that's how many things work for sure I like how you're doing it I'm trading the GBTC I can't do an interactive broker otherwise I would trade that just watch that net asset value on that right because we've seen as that thing crashed that thing really pulled back cook and man have a great great to hear from you Paul likewise gentlemen thanks again thank you man take care stay right there folks we've got fast mac and coming up next spazel chap and Steve Rhodes Dave White be back this afternoon thanks pal thanks man look at him folks