RFK Jr. wants to put the entire US budget on blockchain in push for transparency

RFK Jr. wants to put the entire US budget on blockchain in push for transparency

Lou basson is joining me he’s here for
the hour the only thing you’re
interested in this week is Tech earnings
it’s cuz it’s a big deal matter looking
for yeah I’m looking for Tech to
actually show the earning strength that
we expect so if you look at earnings
growth for the S&P 500 this quarter Tech
is supposed to contribute the top top
five tech companies 65% growth the rest
of the 495 companies 6% decline so
really if stock prices ultimately follow
earnings which they do over the long
term it’s all about tech earnings so
it’s going to what if you want to know
where the Market’s going in the next
week and months and quarters it comes
down to the tech earnings right now so
you think the earnings will be good bad
or indifferent I think they’re going to
be really strong with the exception of
Tesla right Apple’s going to be a mixed
bag it’s not a great quarter but you’re
going to see strength in Microsoft uh
Cloud business AI so that should help
you and your retirement account you’re
going to see strength from Meta Even
though I on principle don’t invest in it
because I think they violate people’s
privacy it’s a it’s a tell on the
underlying economy because 98% of their
revenue comes from advertising so you’re
going to see really strong we’ve seen
the economic reports have been stronger
than expected uh I think Google alphabet
is the underdog in the in the mix in the
big Tech uh world so it’s one to keep an
eye on Tesla though out this afternoon
4:00 Eastern they’re at 1:44 now a lot
of talk that uh they may go big with
Robo taxi in which case that would turn
it into an AI company but it’s a huge
gamble is it not yeah that’s putting up
some you know a facade that it’s an AI
company it’s not an AI company there’s
no Robo taxis roaming the streets of New
York City and there’s not going to be
any anytime soon it’s a pitch it is a
coming no it’s not coming we are decades
away from the reality of ubiquitous Robo
taxis no matter what Elon M musk tries
to spin today this is going to be the
worst quarter for for Tesla in profits
the worst quarter for sales uh and the
first year that showing a year-over-year
decline in sales so it’s it’s a tough
quarter I don’t know how you find good
in anything that comes out of that
report I want you to explain this one to
me RFK Jr okay running for the
presidency is got an idea to achieve
more government transparency he says and
I’m quoting now I’m going to put the
entire us Budget on blockchain so that
any American every American can look at
every budget item in the entire budget
anytime they want 24 hours a day well
what do you think to that bring it on
but it’s never going to happen like I I
love this for two reasons one we need
accountability and transparency in
government Obama said he was going to be
the most transparent president no one’s
transparent in government but here’s the
other thing we need a real use for the
blockchain I’ve always been negative on
bitcoin and cryptos but really bullish
on the blockchain and the underlying
Ledger technology so government
accounting great application work I me
it would absolutely you put the budget
on blockchain does that mean that I can
read any section of it I like get to it
real fast yes and think about this
everyone verifying those transactions
would be paying attention to every
independent transaction and alerting it
it would be like crowdsourcing things
and red flagging things that might be a
little bit wasteful spending I think
it’s a great idea but what are the
probabilities of RFK being in the
presidency uh to make it happen an
interesting idea I’ll give that to him

Public Ventures President and chief market strategist Lou Basenese weighs in on tech earnings, Tesla’s ‘worst quarter’ and RFK Jr.’s ‘great idea.’

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