Episode 521 00:00 Introduction 01:58 AI layoffs impact on commercial real estate 03:30 Logistic &amp; Industrial real estate growth 05:05 Intel exponential performance of past 12 months 15:44 Boeing too big to fail … 2020 flashback 20:00 Next book: invest with the Illuminati 21:16 Nvidia upcoming earnings what for backorder issues 29:45 Alphabet is the best Deep State stock Watch the VIDEO Sign up for free ALERTs &amp; Market Commentary at: https://www.investablewealth.com/subscribe/ ——————————————————

intel inside the DEEP STATE

WEALTHSTEADING Podcast investing retirement money stock market & wealth

# Full Transcript

**Podcast:** WEALTHSTEADING Podcast investing retirement money stock market &amp; wealth

## Participants

- **John Pugliano** (Investable Wealth Today)
- **Joe** (None)

## Transcript

We're live, I guess. Hey, welcome to the Wealthsteading Podcast. This is episode 521. Today is May 20th, 2026. I'm your host, John Pugliano. I'm also the founder and money manager at Investable Wealth Today, I have my co-pilot with me, Joe, and we're going to talk about Intel and the DEEP STATE and the changes in national security that are driving moves in the stock market.

We'll talk about all that and more. I guess before we get to it, we'll check. I'm going to ask Joe about microphone check. Just so far that we sound okay. Whenever we've done YouTube live, and I guess, I don't know, did I say we're live on YouTube? We are today. Whenever we do these episodes, we've had technical problems. We thought it was the mic originally, and we thought it was solved. And then last time, last week when we did it, we found out it was actually an audio adjust game.

There's something about my voice and my Pittsburgh accent that, I don't know, Windows 11 doesn't like. And so we think we have all the auto adjust settings disabled and properly set, but I don't know. We'll find out. Obviously, you guys in the chat room can tell us if we don't sound right, and Joe is actively monitoring it at the same time. So if there's any problem with audio, blame it on Joe.

Joe, speaking of you, what are you seeing in the markets this week or what's caught your attention? Oh, that. See, you're asking that. Just change something. Actually, that question alone, my voice didn't reflect that much though, did it? I don't know. Okay, this is, you're watching sausage being made behind the scenes and how things really affect it. I'm going to try and talk very monotone so I don't mess up the microphone.

What have you seen in markets, Joe? Yeah, so one observation I've been making with all the AI stuff, right? And everyone's cutting their workforce to save money. And part of that, as well as some of them are going fully remote. So during the pandemic, when everyone was going fully remote, staying at home,

you know, they were freaking out about commercial real estate going down. And I haven't heard that this time around. But I mean, there's been a lot of companies lately that have cut thousands of jobs and then in addition to that gone fully remote to save money, you know, to make the bottom line better. Yeah, but we're not hearing about commercial real estate being a problem. And so yeah, keep that on your radar. That's a possibility. I agree. I think that's something you should watch. We personally don't invest in any,

or currently are not invested in any real estate or REITs other than the only thing I can think of is we do own American Tower, which is the company, it's a real estate investment trust that owns the, as the name states, the towers, the things that cell phone towe...

intel inside the DEEP STATE

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

intel inside the DEEP STATE

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.