PAT: So, Danielle, how does the average American prepare for something like that? How do we --
DANIELLE: I would rather be early than wrong. I would rather have my powder be dry.
GLENN: Would you buy a house today?
DANIELLE: It really would depend at what level. I bring the private equity kingpins back. They've been allowed to run rampant through our neighbors in America, buy up all of these foreclosures, and they've crowded out your natural first time home buyer. So home prices have been run right back up.
GLENN: In the evening place like Texas where it's nothing but growth, growth, growth, growth for Texas.
DANIELLE: Well, we've grown, grown, grown, grown, that's true. But now our residential real estate prices have played a nice little game of catch up.
PAT: Would you take your money out of the bank while you still can?
DANIELLE: I don't think we're there.
GLENN: We're headed on that.
PAT: I would take my money out of the casino. Yes.
GLENN: Meaning the stock market.
DANIELLE: Yes.
PAT: Uh-huh.
DANIELLE: And the bond market. People do not understand how overvalued stocks and bonds are much more overvalued.
GLENN: Where do you put it? Just in a bank?
DANIELLE: You keep talking about safes. But there are very decent places that you can put your cash and get a little bit of return and try to hang steady with inflation.
GLENN: Is there anything to say for -- like I do banking with a local bank who doesn't sell my mortgage, they hold it, you know. I went to the local mom and pop.
DANIELLE: A traditional bank.
GLENN: Correct. Or what kind of loans do you make? And they're very, very rigid. Do you look at that? Or a credit union as a place that you can trust more than -- like Citi or any of these bigger groups?
DANIELLE: I think the world as we know it will end if one of these gigantic banks go away. Do you really see one of these lobbyists standing still for that?
GLENN: No.
DANIELLE: I'm just asking.
[Laughter]
GLENN: Yeah, no, I don't. So one more thought.
It used to be that people like Warren Buffett were the heroes. And people like Warren Buffett, he -- I mean, he's still living in the same house. He's still married to the same woman. He's still, you know -- yes, he has a Boeing business jet, but he is -- he could easily be --
PAT: Drives an old truck, all of those kinds of things, supposedly.
GLENN: He could be mistaken for a middle class guy, if you didn't know it was Warren Buffett. Same guy with Walton.
PAT: Sam Walton.
GLENN: That's a different era. Now, everyone wants to live like the Kardashians.
DANIELLE: Flash is the new black. Glenn, you have to flaunt it. Wear it.
GLENN: So everybody is up there and everybody think so they deserve that lifestyle.
DANIELLE: That's what being entitled is all about.
