Our financial advisor Leonard Raskin joins Nestor to discuss where Lamar Jackson goes now that the rest of the NFL can take their best shot at making him their franchise quarterback. Are the phone lines burning up?
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Leonard Raskin, Nestor Aparicio
Nestor Aparicio 00:00
Who? What did I get double u n s t Towson Baltimore and Baltimore positive I gotta tell you we’re gonna be getting a Maryland crabcakes we’re back out on the road. We’re supposed to be families last week removing that I have a big thing going on with Costas and our friends at the Maryland lottery because they’re in original and OG as it were a lottery dealer for 50 years so we’re gonna be over cost us in April loving them up also our friends at the window nation but this week is special. I don’t need a crab cake tour this week because the Maryland Terrapins are going to be playing for lunchtime on Thursday we’re going to be up at Barstool Sports if you get this on the back end. Fair enough. It’s all good but let Raskin are gonna get together. And they give the Terps and the Turtles a little bit of love here and some March Madness because I’ve even printed out my bracket pull my printer. Yes, it still works. And we’re going to be at Hollywood casino with the Barstool Sports restaurant. You can bring kids in I mean, I have kids at school and whatnot. But but it is it’s open everyone it’s it’s just a restaurant that’s adjacent the casino. You get some action in there. But certainly wings, beer, great staff. I’ve been up there several times during the course of the football season. And I spent Superbowl Sunday up there. Just really nice people that work there and great food and a great atmosphere. So coming up to Perry Ville join me on Thursday. Leonard, you’re cordially invited. But hey, I seem to think and I know some of your people internally because you and I, you are my financial advisor. Apparently you made a calendar error here. Yeah, it was Thursday scheduling and you’re like working through March Madness. Which bad? Talk about the American dream? Is it the American dream? Thursday March Madness
Leonard Raskin 01:37
to bad day I have to I have to do some rerouting today we’ll have to reroute some people around and get that changed up? Because yeah, Thursday through Sunday is a constant television viewing for the American male. And I’m sure you know this. It’s the number one week for vasectomies. Did you know that?
Nestor Aparicio 02:00
I’m I’m fully fully aware of that and let me tell you let me tell you sir, Dr. Sigmund, I love you You know I love you. So they segments out there and if anybody knows Dave So in 2003 20 years ago, this this time I met my wife and we decided family this that you know like we’re we’re so I went on the air and said I’m going to make this procedure happen. I need a doctor and within 10 minutes a segment called in and we’ve been great friends for years is one of my favorite people. My goodness. Segment I ran into him on a crab cake tour and a beer house of all places. So but I want to tell you he couldn’t do me. He said you could do anytime a March Madness. were booked too busy, too busy many years ago. So you know when I did it, you’re ready next year? No, I did it on oaks Friday. Which was for the derby. So I can lay in bed all weekend before the bag of peas
Leonard Raskin 03:01
right before the Derby
Nestor Aparicio 03:04
and I never got a sponsorship out of Sandy Segal. So if you see Sandy let him know that I did the bag of peas. It was it was silver bullet day one the the one the the oaks that year. And so there you have it. I did not go to the Derby and oh three said there. Yeah,
Leonard Raskin 03:20
there you go. Well, this is the week and thursday friday is good viewing. The dirty Terps are playing West Virginia, which used to be big rivalry. I don’t know if it is anymore but they got to a good first game. I think they can win the first game. Unless there is a 16 one upset I hate to say I think they are one and done. Alabama looks pretty strong. Go figure that Alabama basketball. I mean what is that about? People are all pent up so they’re not rich enough they you know they didn’t get into the playoffs for for football this past year. They ended up fifth. So now they have to destroy March Madness and be number one and everything. And so they’re number one in basketball. I think a disgruntled
Nestor Aparicio 04:06
Ohio State fan. Not at all look. Memories of your travels.
Leonard Raskin 04:11
Ya know Ohio State had a really tough year they played one junior senior and four freshmen for most of the season. There’ll be good next year they’ll have a good comeback class plus a good recruiting class but this year was not their year although they were awfully surprising in the big 10 tournament. Scared Purdue for a bout 25 minutes and then big Zach Ed took over and just destroyed him. So you know they did alright now on the other side on the other side just to hold this thought here the the Ohio State Buckeye girls are number three seed and the hockey girls are number one in the country in the frozen for coming up
Nestor Aparicio 04:52
with Maryland or to seed in Maryland,
Leonard Raskin 04:55
Maryland ladies are a to absolutely
Nestor Aparicio 04:58
lose the Iowa in the In the in the big 10 tournament I was over Nacho Mama’s last Saturday night doing that have a little chippy dip and doing that. I’ve been watching some ball Leonard, but I was referring to you giving the Alabama people a hard time as an Ohio State football team got out of whack fit. This is going to be held from Maryland. Maryland gets your vibe. Yeah, mon up the Berryville hanging out Thursday. If they survive Maryland really gets a hot house on Saturday and Birmingham. Barbecue will be good.
Leonard Raskin 05:28
But that’s Alabama against Alabama. It’s gonna be a little tough. Yeah, I mean, they are big week, then they’ve done something. Yeah. Yeah, they are big and they are fast. And they score and they rebound and they block and I don’t know what’s up with Maryland. I mean, great. First year, let’s face it, new coach, first year, NCAA Tournament. And, and, and a great run. They just can’t play on the road. I don’t know. We talked about that. I don’t know where how the basket looks different when you’re not in your home gym. But apparently it must because they’ve they’ve lost a number of games on the road that you they should have won could have won. And so they got a tough game against West Virginia because it’s on the road. And so we’ll see. We’ll see.
Nestor Aparicio 06:13
And I think surviving Thursday would be a good vibe. And even if they get smoked by by the Crimson Tide season,
Leonard Raskin 06:19
Nestor Aparicio 06:23
local folks here would say, oh, buy a ticket for that I’ll buy into what Kevin Willard is selling. That’s right. And that would be a question as to whether you’re buying what Mike Elias and Brandon Hyde are selling or whether you’re buying whatever the Ravens do with Lamar, whenever it’s over with, yeah. Are you a true believer that Eric and John, have a plan and have a bar plan. And right now, it certainly feels on the media side, as though Lamar might be coming back here. And it’s right.
Leonard Raskin 06:55
It’s funny, because everybody out there has got him going to every team except staying put. And quite frankly, I think he’s, he’s put himself long about roundabout in a perfect position that any player would want. And I think they’ve done a solid job, too. It’s an interesting, now that it’s come full circle piece, I think the non exclusive franchise tag is very interesting. It lets him go out in the capital market in the free market, as the lender we’re asking is 100 all about it all about free markets. And he will find out his real value his his worth on the market, because it will be set by other teams that may or may not want his services. And if there are teams that want his services, they get to make a bid for those services. And unlike most other players, he doesn’t have a filter of an agent to tell them what those offers look like or feel like he’s going right to the horse’s mouth to say, what do you give me to be your quarterback and they’re gonna make offers, and he’s gonna find out in the marketplace, whether he’s a 250 guarantee guy, or a 150 guarantee guy or whatever it is that the football world will offer him and unless unless you believe in the collusion narrative, and that the NFL owners have decided together not to make an offer of that magnitude, then the free market will determine his value. And then the Ravens have a choice. And he has a choice whether to take the free market offer from somebody else. And they let him go for two draft picks. Or they step up and say yeah, we believe your worth that too. And we want you here and we’re gonna pay you to be here and you’re gonna be our quarterback and away we go and you know, game set match, we keep running,
Nestor Aparicio 08:48
but that’s a small price to pay. Now let’s So for anybody well, let’s just take it to your turns by the way, Lenin Raskin here from Raskin global, follow the American dream, go to Rasca global.com, learn about money and how to manage it and how to make yourself better. So you always have a tax situation like in Delaware versus here homophone there, or even in Pennsylvania across the border work lives, or even in Florida or Texas where it’s dreamy, and everybody gets keeps more of their money and pays more on the sun, toll roads and whatever other ways they finagle money from tourists and whatnot. Right? I would just say this for Lamar, you say free market, it’s not really truly equal because the Ravens could keep him just for the money. They wouldn’t have to give up to future players to correct him or any other franchise. It’s still like Well, everybody thought oh, the ravens are gonna fleece everybody and they saw this Carolina deal. Right and so all the Carolina had to get the move up eight spots, right? Yep. Including a wide receiver under contract. Yeah. And a lot of this is about money and moving money. Later when that salary cap thing happens. It’s amazing. If you want Lamar and you’re gonna cap him at 43 million next year. You better Are there only a handful of teams that can even make that deal happen? And the ravens are really handcuffed right now just having them on the roster with Chuck Clark and all that’s going on? It’s so complicated. Oh, yeah, there are five Leonard raskins, in every team trying to move things around and manage money manage cap. But I would say this, this is punitive. If if the Falcons were to do this, to give up to players, they’re going to have to literally give up more than the Ravens would have to give them, which is just the money come back in and sit down and play quarterback.
Leonard Raskin 10:26
Yeah, it’s not a perfectly free market, let’s face it, but then neither is unfortunately, capitalism in our country, because our government has their thumb on the scale. And lots of other things weigh in, along with the perfect model. You know, free capitalism is a beautiful thing, it doesn’t really exist, but it’s as close as a player can get, he’s got the opportunity to find out his value. And the Ravens either agree to his value, or move on
Nestor Aparicio 11:01
the mindset, they’re not going to bid on him. I mean, I’m assuming, well, I’m assuming in business, in any business, you run it, okay, I got a real estate deal for you letter, it’s real estate x, we’re gonna go over here, we’re gonna buy this building, we’re going to do this land, and I tell you what, it’s near this thing that’s going to happen, it’s near a university, we’re going to do it, you want to go bid on it, and we can get a really good deal on it. And then you say, well, like, but give me a price. But Pat Arachis, or Smith, or whatever, they can just, they can just take the deal if they want it. So we’re gonna put all this effort into it, we’re gonna put all this legal into it, we’re gonna put all the zoning and the, to buy this thing. And at the end, Mr. Big can just come in Angelo’s in your speciality and just say, Yeah, I’ll just match that. And we do all the work to give them the price and they buy the land.
Leonard Raskin 11:49
Well, it’s all about how badly you want the land. So you can never really have the land. Yeah, but this is a really competitive gig. And these are competitive men who have competitive teams who want a Super Bowl ring. And unless they’re lying about that, they’re looking for pieces to fill that void, and they’re gonna move, heaven and earth to ego get it. And they are Mr. Big except they can be matched. You’re right, they can be matched. But you know what, you got to make the play, that if this is the guy you think can put you over the top, you gotta go get him, you got to try to go get him. And that’s why I say for him, he’s in the perfect place. And for the ravens, what you just said is really important because they’re in a perfect place because he’s either going to be let’s face it more valuable than they think less valuable than they were offering or they’re giving them good value and one way or the other everybody’s gonna find out in a matter of what couple months you know, free agency started the weekend but for him it doesn’t start till like later in the week and then when it starts he’ll find out if anybody wants his services and if they do go find out at what price they’re willing to pay for those services. And then Mr. Big can come right back in and say Maryland just gave me $600 million and I’m gonna give it to you whatever portion of that he wants to spend on the MAR he may do so and looks to me like they’re moving pieces around on the chessboard to have the available coin cap coin to make it happen. And I I think you were gonna see him in purple and black uniform. Look Miami stepped up with to the saints got their quarterback. It looks like the Jets might have their man. Oh my goodness. What’s
Nestor Aparicio 13:47
the question as to whether Lamar Jackson is the Ravens best option to win yet right here right now? Yep, against the field as we know it, fine. But I do know these guys, and you and I’ve talked about this to be arrogant and to be just sort of, they’re either in or they’re out. This is their you know, they’ve had this guy here. They either really, really love him long time and are willing to do whatever it takes to keep them because they really believe in him. Yep. Even though he wasn’t in Cincinnati, even though he didn’t come to OTAs even though he’s popped off on Twitter, you blah, blah, blah, blah, whatever the issue
Leonard Raskin 14:24
hasn’t been. It hasn’t been really there hasn’t been a lot of animosity. You haven’t heard a lot of outside. Right. Right. You hear a lot of love. You hear a lot. That’s why you
Nestor Aparicio 14:33
feel like they could come back together and Kumbaya. Yeah, you’d have to wonder what was going on in December. You know, why was Lamar leaking injury? reports saying was worse? Is it because he’s his own age? Right, exactly. So I don’t know that Goshi ating for the free market. The Ravens have a plan for anything here though. I’m convinced that that how they want to do what they want to do. had the Falcons come in and guarantee him $148 million and say here, if that’s really what they want, because they want to move on. I have believed that up until now, if they go back and a match a deal and say Lamar is our guy, I will stand shocked at that, because I watched the press conferences in December in January. I just won’t be shocked. That’s all.
Leonard Raskin 15:22
Yeah, well, I think if they think look, I agreed, and I think they know what they want. And I think they have a number in mind that they’re willing to pay and what they’re not willing to pay over. And I think the market will set that and they’ll say yay or nay based on what’s out there. That’s what I said he’s in the perfect position for himself. He wants to play football, and he wants to win. And he can win a lot of places. He’s a winner. Not only I don’t think just in his leg talent norm to please God. You’re a true believer that your attitude of a winner that if he goes to Atlanta, they’re immediately you believe that contender and in that in that conference, who they play in. I well in that conference shirt. I st staring off the saints with Derek Carr. Carolina with a number one pick Carolina with a with a rookie, CJ Stroud, or Mr. Young. And who’s Tampa got?
Nestor Aparicio 16:21
Well, I mean, they’re gonna Baker Mayfield maybe.
Leonard Raskin 16:25
Well, maybe so that’s just a train wreck. So he could go into Atlanta. He’s got running backs. He’s got receivers. He’s got he’s got a line. I mean, I think he immediately makes them a division contender at the top.
Nestor Aparicio 16:41
Fair enough. Arthur Blank, but then it’s it’s a high I put a bet to make upon Are you ready? Yep. He can write a blank check if you want to go anytime he wants. Right. Exactly the time he wants to be a little update here. We’re before we chat on tax season. I’m one of the guys guilty party. They gotta get it. Get my act together. I know a guy though Raskin. But but some thoughts about the market and where we are. And I guess just people watching the news every day. And we’re getting into spring here. I mean, the one thing that I have definitely noticed and just traveling and I’ve been, I spent three days in Texas, I spent three to two days, three days in Florida one day in in Georgia. I have been in Illinois, I’ve been some places. Yep. Um, the inflation part it’s real and, and how much things cost and what $15 labor means in service industry, you know, across the board. But it does feel like people are still looking to employ people and having problems. The employment problem here is I know, I need help I need right. I mean, that’s real. Where are you on the economy? Because we haven’t talked about this. And we’ve been so Lamar it out. We haven’t had in a while you and me.
Leonard Raskin 17:53
Yeah. Well, you know, it’s an interesting couple of weeks here. Lately, we had a major bank closure takeover by the FDIC last week, California bank, the second largest bank collapse in US history, pretty significant. It’ll be interesting to see whether or not the government bails this bank out, lets depositors have their deposits. If they do that, it’ll be very interesting because the insurance FDIC is $250,000 per account registration. And I’m not saying there’s going to be a run on banks, but there was a run on that one. And simply put, here’s the mathematics of it. They held as a lot of banks do a significant block of treasury bonds. They went long maturity in their treasury bonds. And when interest rates go up, long maturity bonds, all bonds, but in particular, long maturity bond values drop significantly. to oversimplify, but not really, if I’ve got a 10 year bond, and it’s paying me 3%. And interest rates go up to 4%. For the 10 year bond, one percentage point, my bond loses 10% of its value. And interest rates over the last 12 months have gone up seven times. And they’ve gone up 3%. So 10 year bonds have lost 30% of their value. And so this bank that holds all these treasury bonds are supposed to be safe and guaranteed. What people forget is they’re only safe and guaranteed if you hold them to maturity. And when there’s a run on your bank, and people get scared, they start wanting to take their money out. You need to have the money and you need to sell treasuries and you sell them at a great loss and then you’re insolvent and that’s what happened sort of like the raiders in signing Lamar. Yeah, well, there you go. That’s a place he could play to. So they break out there Davis treasuries, but I don’t think they have to worry about selling treasuries, they just sell one cus
Nestor Aparicio 20:03
Quiddity. In the lead, Mr. Literally, really talking about when you take 30% out anything, you probably take a lot of liquidity in a lot of places you take 30% out, right?
Leonard Raskin 20:14
Absolutely. And so, so what’s what’s happened is simply and horribly put, the government just spends too darn much money. And when the government prints money, like water, we have inflation. And you’re right, it’s everywhere. It’s in the price of gas, it’s in the price of food, it’s in the price of everything. And inflation, being in the price of everything is an insidious tax, that most horribly hurts the lower and middle class. The fact of the matter is that somebody with a lot of money, and you hear Joe Biden and his ilk running around saying we’re not going to tax anybody that doesn’t make over $400,000 a year. I call BS on that in a big way. Because inflation is the most insidious tax, and it hits the people that make under 400,000, horribly more than it hits those that make over 400,000. Somebody making over 400,000 doesn’t care what the price of gas is. It’s an inconvenience, but they fill their tank, in their gas guzzling SUV,
Nestor Aparicio 21:19
those people are having real easter eggs. We’re making it happen to hollow ones, we’re going over the y’s, using my points, I gotta use right points to get
Leonard Raskin 21:28
much right. So the people that make under 400,000 are being destroyed, because they have to decide between gas, rent, medicine,
Nestor Aparicio 21:36
I’m one of those people, by the way. And I just wanted to clarify here that I’m on
Leonard Raskin 21:40
and it’s a bad day for for them. So Biden can talk all he wants about not taxing people under 400,000. He’s taxed them the hardest. And then all of that happens, and the Fed in trying to bring this back around the other way is raising interest rates at an astronomical clip. The problem with that is they’re not getting any cooperation from Congress. When Congress spends money, and the government raises rates, they’re working at cross purposes, somehow, the government has to reel in spending, as Powell is raising rates to get this economy sound again, and I don’t care what Joe Biden says the economy is not sound, the only thing that’s happening is there’s a drought of good workers. And that’s because for some reason, people don’t want to take jobs. Some people think they’re overqualified for a certain job, other people just don’t want to work. And so you have this combination of that we have low unemployment, that’s true. But we have a high or excuse me, a low labor participation rate, there are a lot of people that just aren’t looking or aren’t working right now, for whatever reason. And that’s pretty terrible. There’s a lot of people sitting on the sidelines that just aren’t looking for jobs or aren’t taking them. The service sector is having a hard time finding people, everywhere I
Nestor Aparicio 22:59
go, almost every client every place, you know, even myself, I’d like to grow and find it, you know, I’ve had a much bigger company, you know that but yet finding the right person is more important for me than finding the wrong person and my where I am, but a lot of places just to be open, they have to find a person.
Leonard Raskin 23:18
And the problem is, there’s not new people, there’s not a lot of young new people hunting. And, and one of the things that happens is companies end up poaching, they go to somebody else and take their people, which leaves them without people. And it’s just an insidious circle. So we got to get to the point where yeah, the labor participation rate is back up. We gotta get to the point where wages are being paid but these interest rates and inflation rates they’ve got to come down to the government’s got to stop spending so much money they’re bringing in more than ever and spending more than more than ever.
Nestor Aparicio 23:51
I’m gonna blame Lamar, he’s getting all the money all the time. Hey, Lamar letter Raskin can help you he isn’t Raskin global we sometimes we just talk sports at Ohio State or hockey or Barry Johnson, or even eating wings and beer over Hollywood casino with the Barstool Sports, but sometimes we get serious and all this stuff, taxes, money, finance, it’s where he lives and eats and you can find him at Raskin. global.com Hope to see you on the other side. I hope college basketball season is not over around here. But hey, baseball’s in two weeks man and this Lamar thing feels like it’s never going to end so well. Stay up with us. I’ll begin to crap kpd soon. All right. Absolutely. Let Raskin Raskin global. Joining us here I’m doing the crabcake tour brought to you by the Maryland lottery conjunction with our friends at window nation. We’re getting back at the cost this in early April. I’m setting that date and time I think I have it together as well as families in early April and then we’re going to be hitting a whole bunch of new places and some old friends as well. So we’re looking forward to our conversations into the spring and in the summer as we get back onto the beat. And I’m feeling good about baseball season about March Madness and about whatever this draft and football thing wherever it’s going to end up. We’re gonna give it to you first we are wn st game 1572 It’s in Baltimore and we never stop talking Baltimore positive