1 00:00:05,200 --> 00:00:10,800 Speaker 1: Line from Vall Hartliner and the Crossroads of America. It's 2 00:00:10,880 --> 00:00:15,280 Speaker 1: Tony Katz today that there are still Democrats out there 3 00:00:15,320 --> 00:00:18,720 Speaker 1: thinking that they can say, don't vote for the Save Acts, 4 00:00:18,760 --> 00:00:21,840 Speaker 1: don't vote for voter ID because it's Jim Crow two 5 00:00:21,920 --> 00:00:26,439 Speaker 1: point zero. That argument is just blowing back on the 6 00:00:26,440 --> 00:00:27,280 Speaker 1: progressive left in. 7 00:00:27,280 --> 00:00:27,760 Speaker 2: A hard way. 8 00:00:27,800 --> 00:00:30,880 Speaker 1: Now, won't change the troll you see on social media. 9 00:00:31,680 --> 00:00:35,159 Speaker 1: But even those who cover this daily, those people from 10 00:00:35,159 --> 00:00:37,160 Speaker 1: the CNNs and the ms NOWS and the New York 11 00:00:37,200 --> 00:00:42,120 Speaker 1: Times and all those other fraudsters, they recognize that trying 12 00:00:42,159 --> 00:00:44,440 Speaker 1: to claim Jim Crow two point zero to a voter ID, 13 00:00:45,360 --> 00:00:48,800 Speaker 1: it isn't connecting with the American people. Tony Katz, Tony 14 00:00:48,840 --> 00:00:52,920 Speaker 1: Katz today, good to be with you. Commrescewoman Aaron Hounchen joins. 15 00:00:52,600 --> 00:00:53,160 Speaker 2: Me right now. 16 00:00:53,200 --> 00:00:55,800 Speaker 1: She's from the ninth District of Indiana. She sits on 17 00:00:55,800 --> 00:00:59,720 Speaker 1: the House Energy and Commerce Committee. Of course, this is 18 00:00:59,760 --> 00:01:03,640 Speaker 1: where the top story is and where we are with 19 00:01:03,720 --> 00:01:07,360 Speaker 1: Homeland Security funding. So before the Save Act, let's get 20 00:01:07,400 --> 00:01:10,920 Speaker 1: to DHS what we have seen with ICE, these ten 21 00:01:11,040 --> 00:01:13,840 Speaker 1: demands that the Democrats have, Let's. 22 00:01:13,640 --> 00:01:14,759 Speaker 2: Start where we start. 23 00:01:15,120 --> 00:01:20,400 Speaker 1: Are you amongst any Republicans who believe that ICE needs 24 00:01:20,440 --> 00:01:24,479 Speaker 1: some type of rethink or homeland security means some type 25 00:01:24,480 --> 00:01:25,120 Speaker 1: of reboot. 26 00:01:26,880 --> 00:01:29,720 Speaker 3: Well, first, thanks for having me. I would say that 27 00:01:30,600 --> 00:01:34,920 Speaker 3: one of the things that Democrats are are promoting here 28 00:01:35,000 --> 00:01:37,880 Speaker 3: is that they're standing on this line to defund ICE 29 00:01:38,680 --> 00:01:42,759 Speaker 3: when all along we already funded ICE and border patrol 30 00:01:42,920 --> 00:01:45,040 Speaker 3: in the one Big Beautiful Bill and the working family's 31 00:01:45,080 --> 00:01:46,880 Speaker 3: tax cuts back to the tune of about one hundred 32 00:01:46,880 --> 00:01:49,840 Speaker 3: and fifty billion dollars. So what they are fighting for 33 00:01:50,000 --> 00:01:54,960 Speaker 3: right now is to defund TSA, Coach Guard, FEMA, and 34 00:01:55,040 --> 00:01:59,960 Speaker 3: other agencies under the DHS umbrella. This is largely performing 35 00:02:00,240 --> 00:02:03,680 Speaker 3: from the Democrats, but they have to stand and yell 36 00:02:03,880 --> 00:02:08,120 Speaker 3: about about the ICE enforcement. What I would say is, 37 00:02:08,160 --> 00:02:11,600 Speaker 3: when I'm back home, people still largely support removing friminal 38 00:02:11,760 --> 00:02:16,320 Speaker 3: legal aliens from the country, and they support ICE enforcement 39 00:02:17,480 --> 00:02:21,240 Speaker 3: concerned with tactics. But when we see cities like Washington, 40 00:02:21,320 --> 00:02:25,640 Speaker 3: d C. And Memphis, and in states like Louisiana where 41 00:02:25,960 --> 00:02:29,200 Speaker 3: where they're blue cities but they're cooperating with federal law 42 00:02:29,280 --> 00:02:34,760 Speaker 3: enforcement officers, things go much more smoothly. In many cases, 43 00:02:34,840 --> 00:02:40,359 Speaker 3: these are professionally paid and trained agitators that are impeding 44 00:02:40,400 --> 00:02:42,920 Speaker 3: the work of law enforcement to do the job of 45 00:02:43,000 --> 00:02:47,120 Speaker 3: removing very dangerous people from the country. The same Democrats 46 00:02:47,360 --> 00:02:50,440 Speaker 3: didn't stand up for or speak in support of the 47 00:02:50,440 --> 00:02:53,920 Speaker 3: family of Lake and Riley and other victims across the 48 00:02:53,960 --> 00:02:58,040 Speaker 3: country who have been who have lost family members, American 49 00:02:58,080 --> 00:03:02,480 Speaker 3: citizen family members at the hands of crime, the legal aliens. Again, 50 00:03:02,639 --> 00:03:06,560 Speaker 3: I would say this is largely performative. House Republicans did 51 00:03:06,600 --> 00:03:09,239 Speaker 3: their jobs. We've already funded all of these programs. We're 52 00:03:09,240 --> 00:03:12,520 Speaker 3: waiting for the Senate to act. I will be watching 53 00:03:12,560 --> 00:03:15,360 Speaker 3: for what the White House will agree to and really 54 00:03:15,440 --> 00:03:17,840 Speaker 3: leave it up to the President and the Senate to 55 00:03:17,919 --> 00:03:24,520 Speaker 3: negotiate on these points. At best, we want ICE enforcement 56 00:03:24,720 --> 00:03:27,640 Speaker 3: to do the job of removing the violent, criminal aliens 57 00:03:27,639 --> 00:03:30,000 Speaker 3: from the country, and we want to fund our government 58 00:03:30,040 --> 00:03:33,240 Speaker 3: agency so that we have smooth air travel, Our Coast 59 00:03:33,280 --> 00:03:38,119 Speaker 3: Guard is funded, and our FEMA funds for natural disasters 60 00:03:38,160 --> 00:03:39,520 Speaker 3: are protected. 61 00:03:39,920 --> 00:03:41,920 Speaker 1: I have no doubt about the performative nature of the 62 00:03:41,920 --> 00:03:44,680 Speaker 1: political left. But when you say that your constituents talk 63 00:03:44,720 --> 00:03:47,920 Speaker 1: to you about ICE tactics. Is this about the shootings 64 00:03:47,920 --> 00:03:50,440 Speaker 1: that we saw with Renee Good and Alex Pretty Is 65 00:03:50,480 --> 00:03:53,880 Speaker 1: this about how they go house to house? Is it 66 00:03:53,920 --> 00:03:57,080 Speaker 1: a conversation about how they deal with the violent agitators. 67 00:03:57,440 --> 00:03:59,760 Speaker 1: What do they say to you about tactics in a 68 00:03:59,840 --> 00:04:02,400 Speaker 1: more specific sense, Well, I. 69 00:04:02,400 --> 00:04:06,200 Speaker 3: Would say it's in a more general sense. It's like, obviously, 70 00:04:06,400 --> 00:04:09,400 Speaker 3: any loss of life is tragic, and we don't want 71 00:04:09,400 --> 00:04:11,080 Speaker 3: to see that in any circumstance. 72 00:04:11,160 --> 00:04:12,600 Speaker 2: But so they don't. 73 00:04:12,960 --> 00:04:18,600 Speaker 3: Naturally, constituents don't like to see fatalities in these engagements 74 00:04:18,600 --> 00:04:23,560 Speaker 3: with law enforcement. However, they do support removing criminal aliens 75 00:04:23,560 --> 00:04:26,400 Speaker 3: from the country. They do support the president in in 76 00:04:26,760 --> 00:04:30,800 Speaker 3: in our conversations back home now we do hear from 77 00:04:30,800 --> 00:04:34,080 Speaker 3: people on the other side of this issue, naturally, but 78 00:04:34,240 --> 00:04:38,880 Speaker 3: the district does support protecting our own American citizens and 79 00:04:38,920 --> 00:04:41,600 Speaker 3: they support law and order. They support the police, They 80 00:04:41,640 --> 00:04:46,480 Speaker 3: support ICE doing the job of protecting our American communities. 81 00:04:46,520 --> 00:04:50,040 Speaker 3: And I can speak firsthand just to the enforcement in Washington. 82 00:04:49,760 --> 00:04:50,000 Speaker 1: D C. 83 00:04:50,920 --> 00:04:54,800 Speaker 3: Only one murder in the entire city reported in January 84 00:04:54,960 --> 00:04:59,159 Speaker 3: after President Trump worked with Mayor Bowser, who's a Democrat, 85 00:04:59,240 --> 00:05:03,440 Speaker 3: to increase not only ICE enforcement, but a National Guard presence, 86 00:05:03,480 --> 00:05:07,520 Speaker 3: and it's worked very well. We don't have protests going 87 00:05:07,560 --> 00:05:11,440 Speaker 3: on in Washington, d C. Like we see in Minnesota 88 00:05:12,080 --> 00:05:15,000 Speaker 3: and other parts of the country. If local and state 89 00:05:15,200 --> 00:05:21,280 Speaker 3: officials would be cooperative and provide the protective perimeter and 90 00:05:21,839 --> 00:05:27,400 Speaker 3: such for these these enforcement actions, I think you would 91 00:05:27,440 --> 00:05:31,520 Speaker 3: see less citizens being put at risk in the with 92 00:05:31,640 --> 00:05:36,559 Speaker 3: the you know, professional agitators and others who are really 93 00:05:36,560 --> 00:05:38,480 Speaker 3: interfering with their efforts. 94 00:05:38,920 --> 00:05:41,560 Speaker 1: Talking to congress Woman Aaron Houchin at the ninth District 95 00:05:41,680 --> 00:05:46,120 Speaker 1: of Indiana, let us move. You know, we talked about DHS, 96 00:05:46,160 --> 00:05:48,479 Speaker 1: and we talked about this being performative, but we still 97 00:05:48,520 --> 00:05:51,120 Speaker 1: have the measure coming on Friday, the end of this 98 00:05:51,240 --> 00:05:53,680 Speaker 1: two week gap. Are we going to see this in 99 00:05:53,720 --> 00:05:55,360 Speaker 1: a yes or no? Are we going to see funding 100 00:05:55,440 --> 00:05:59,479 Speaker 1: take place this by the end of this week, or 101 00:05:59,520 --> 00:06:01,840 Speaker 1: will we see the groups that you're talking about, Coast 102 00:06:01,839 --> 00:06:04,000 Speaker 1: Guard and others go without dollars? 103 00:06:05,680 --> 00:06:08,560 Speaker 3: Yeah, I think what you'll see is probably another continuing 104 00:06:08,600 --> 00:06:13,440 Speaker 3: resolution that would be My guess is that we will 105 00:06:13,480 --> 00:06:19,080 Speaker 3: not have a resolution to this negotiation by the end 106 00:06:19,120 --> 00:06:21,560 Speaker 3: of the week, but I think we will probably see 107 00:06:21,560 --> 00:06:25,760 Speaker 3: an extension of funding through a continuing resolution for DHS. 108 00:06:25,880 --> 00:06:29,200 Speaker 3: Everything else has been funded, which I think hasn't happened 109 00:06:29,200 --> 00:06:33,440 Speaker 3: in like twenty years. So we actually got appropriations out 110 00:06:33,480 --> 00:06:37,880 Speaker 3: of the House and individual bills for maximum transparency under 111 00:06:37,960 --> 00:06:41,560 Speaker 3: Republican leadership, and the Democrats, of course, are standing on 112 00:06:41,920 --> 00:06:44,559 Speaker 3: this DHS funding, even though Democrats in the House did 113 00:06:44,839 --> 00:06:46,440 Speaker 3: vote to send it to the Senate. 114 00:06:47,360 --> 00:06:50,880 Speaker 1: Let us move over to this part two, regarding the 115 00:06:50,920 --> 00:06:54,120 Speaker 1: Save Act and voter ID, which has shown itself to 116 00:06:54,120 --> 00:06:58,960 Speaker 1: be if we believe polling wildly popular, whether you're a 117 00:06:58,960 --> 00:07:01,840 Speaker 1: Republican and independent, that the Democrat, whether you're black, whether 118 00:07:01,839 --> 00:07:05,279 Speaker 1: you're white, male or female, the idea of an ID 119 00:07:06,000 --> 00:07:11,400 Speaker 1: makes perfect sense to people. And then we get Chuck Schumer, 120 00:07:11,440 --> 00:07:14,040 Speaker 1: the leader of the Democrats in the Senate, amazingly still 121 00:07:14,040 --> 00:07:17,560 Speaker 1: the leader of the Democrats, screaming that this is Jim 122 00:07:17,640 --> 00:07:20,360 Speaker 1: Crow two point zero, that the Save Act as written 123 00:07:20,720 --> 00:07:24,360 Speaker 1: is somehow different than voter ID, and that what Senator 124 00:07:24,400 --> 00:07:29,760 Speaker 1: Mike Lee has proposed here is somehow a violation of Americans' rights. 125 00:07:30,000 --> 00:07:33,640 Speaker 1: Where are we with this legislation and is there some 126 00:07:33,800 --> 00:07:37,200 Speaker 1: level of counter that we could see the House engage 127 00:07:37,680 --> 00:07:39,440 Speaker 1: to get this to the President's desk. 128 00:07:41,320 --> 00:07:44,960 Speaker 3: Yes, So the Rules Committee will be meeting this afternoon 129 00:07:45,000 --> 00:07:47,480 Speaker 3: to talk about the Save Act, and we will be 130 00:07:47,520 --> 00:07:49,440 Speaker 3: passing that out of the Rules Committee to the House 131 00:07:49,480 --> 00:07:55,840 Speaker 3: for it defies logic that the Democrats would not support 132 00:07:55,880 --> 00:08:00,840 Speaker 3: the Save Act even though it's wildly popular among all 133 00:08:00,920 --> 00:08:04,440 Speaker 3: Americans that we would have secure elections through voter I 134 00:08:04,560 --> 00:08:07,080 Speaker 3: d Indiana was one of the first states. 135 00:08:06,800 --> 00:08:07,640 Speaker 2: To do voter ID. 136 00:08:07,840 --> 00:08:10,720 Speaker 3: We also came back and did voter ID by mail. 137 00:08:11,480 --> 00:08:14,160 Speaker 3: This is not too much to ask. Even though the 138 00:08:14,280 --> 00:08:19,960 Speaker 3: National Voter Registration Act requires that your citizenship you have 139 00:08:20,040 --> 00:08:24,000 Speaker 3: citizenship to vote, there's no requirement that you provide proof 140 00:08:24,040 --> 00:08:28,200 Speaker 3: of citizenship or that you provide ID. Thirty six states 141 00:08:28,280 --> 00:08:32,400 Speaker 3: already require voter ID to cast the ballot. Fourteen states 142 00:08:32,440 --> 00:08:35,079 Speaker 3: don't have any or they have little to know safeguards. 143 00:08:35,360 --> 00:08:38,280 Speaker 3: It's clear that the Democrats would love to have all 144 00:08:38,360 --> 00:08:41,640 Speaker 3: mail voting. They tried to do that before nationwide. Even 145 00:08:41,679 --> 00:08:44,440 Speaker 3: though now they're claiming that, you know, we should not 146 00:08:44,720 --> 00:08:48,040 Speaker 3: engage in, you know, passing some sort of a national 147 00:08:48,080 --> 00:08:54,880 Speaker 3: standard for voter ID. We saw the same arguments in 148 00:08:55,280 --> 00:08:58,120 Speaker 3: Georgia and other states when they implement a voter ID 149 00:08:58,600 --> 00:09:02,280 Speaker 3: and voter ID for absin Kee ballots. It did not 150 00:09:02,320 --> 00:09:05,199 Speaker 3: come to fruition. There was not voter suppression. In fact, 151 00:09:05,240 --> 00:09:09,959 Speaker 3: it's resulted in more voter participation and more satisfaction among 152 00:09:10,040 --> 00:09:14,120 Speaker 3: voters and the security of the election. I cannot explain 153 00:09:14,400 --> 00:09:20,040 Speaker 3: why the Democrats don't support this, It is beyond me, 154 00:09:20,320 --> 00:09:24,199 Speaker 3: but it was clear when Joe Biden took office, he 155 00:09:24,320 --> 00:09:26,760 Speaker 3: did a couple of executive orders, one with open the 156 00:09:26,760 --> 00:09:30,840 Speaker 3: Southern border. Executive Order number two was to allow illegal 157 00:09:30,840 --> 00:09:34,440 Speaker 3: immigrants to count in the census for congressional apportionment for 158 00:09:34,520 --> 00:09:39,400 Speaker 3: the electoral college. That I think is designed to grab 159 00:09:39,480 --> 00:09:43,920 Speaker 3: power among the Democrats. They are just desperate to get 160 00:09:43,960 --> 00:09:46,719 Speaker 3: back in control. I think so they can put their 161 00:09:46,760 --> 00:09:52,200 Speaker 3: liberal wish list of items through Congress. And this is 162 00:09:52,240 --> 00:09:55,319 Speaker 3: an effort to stop voter fraud, and the American people supported. 163 00:09:55,400 --> 00:09:58,160 Speaker 3: I hope the Democrats will will get on board and 164 00:09:58,640 --> 00:10:01,439 Speaker 3: join us to secure American elections. 165 00:10:01,760 --> 00:10:05,800 Speaker 1: It is always about control. Congssoman Aaron Houchen from the 166 00:10:05,840 --> 00:10:08,200 Speaker 1: ninth District of Indiana, I appreciate you taking the time 167 00:10:08,200 --> 00:10:08,480 Speaker 1: to be. 168 00:10:08,440 --> 00:10:11,040 Speaker 2: With us more to get to this is Tony Kats today. 169 00:10:11,280 --> 00:10:17,120 Speaker 1: It is something to see how far the Jeffrey Epstein's 170 00:10:17,160 --> 00:10:26,360 Speaker 1: story spans, exactly the damage that is being done by 171 00:10:26,400 --> 00:10:28,480 Speaker 1: being connected. 172 00:10:29,280 --> 00:10:30,560 Speaker 2: To him. Tony Kats. 173 00:10:30,640 --> 00:10:34,679 Speaker 1: Tony Kats today and I discussed, you know, the reporting 174 00:10:34,679 --> 00:10:37,440 Speaker 1: about President Trump, and pay no attention to the leftist 175 00:10:37,440 --> 00:10:41,320 Speaker 1: who want to scream Trump's supporting pedophiles, Trump's protecting pedophiles. 176 00:10:41,440 --> 00:10:45,959 Speaker 1: Trump is a pedophile. These dumb progressives, they don't care 177 00:10:46,000 --> 00:10:48,480 Speaker 1: how they lie, they don't care how they manipulate, They 178 00:10:48,480 --> 00:10:52,040 Speaker 1: don't care the story they tell. The objective is power, 179 00:10:52,400 --> 00:10:55,600 Speaker 1: and it's really important for us, the rational people. Regardless 180 00:10:55,600 --> 00:10:57,959 Speaker 1: of whether you're conservative or Republican, or independent or modern 181 00:10:58,040 --> 00:11:02,560 Speaker 1: or nothing, you gotta nor that stuff. These people are liars. 182 00:11:03,040 --> 00:11:08,080 Speaker 1: Their work was filthy, disgusting, frauds. This is not whether 183 00:11:08,120 --> 00:11:11,040 Speaker 1: or not you like every policy of Trump, but the 184 00:11:11,200 --> 00:11:15,280 Speaker 1: very idea of Trump pedophile is so messed up and 185 00:11:15,320 --> 00:11:19,199 Speaker 1: so deluded. But it is exactly what progressives say because 186 00:11:19,240 --> 00:11:24,679 Speaker 1: they don't have to concern themselves with being truthful. All 187 00:11:24,720 --> 00:11:27,000 Speaker 1: they have to do is concern themselves with putting a 188 00:11:27,040 --> 00:11:30,280 Speaker 1: story out there, letting it go amongst the chattering classes 189 00:11:30,320 --> 00:11:31,719 Speaker 1: and social media, and. 190 00:11:31,679 --> 00:11:33,600 Speaker 2: Then forgetting they ever said it to begin with. 191 00:11:34,600 --> 00:11:38,280 Speaker 1: They purposefully never looked at Joe Biden, or never spoke 192 00:11:38,320 --> 00:11:42,000 Speaker 1: about Joe Biden, or never questioned Joe Biden's capability. All 193 00:11:42,000 --> 00:11:43,880 Speaker 1: they said is look at what the political right is 194 00:11:43,920 --> 00:11:48,439 Speaker 1: saying ha ha, and then after the election, they have 195 00:11:48,559 --> 00:11:51,240 Speaker 1: the audacity, like Jake Tapper to write books and say, 196 00:11:51,520 --> 00:11:55,360 Speaker 1: my gosh, Joe Biden wasn't okay, this was a real issue. 197 00:11:55,520 --> 00:11:55,760 Speaker 2: Hmm. 198 00:11:56,880 --> 00:11:59,720 Speaker 1: Don't buy into these people. Don't believe these people. And 199 00:11:59,760 --> 00:12:02,440 Speaker 1: of course, of course we know the story that as 200 00:12:02,480 --> 00:12:05,440 Speaker 1: we see more of the Epstein files come out that 201 00:12:05,600 --> 00:12:10,480 Speaker 1: President Trump in the two thousands had told the FBI 202 00:12:10,840 --> 00:12:13,360 Speaker 1: or you know, he reached out to the FBI to say, 203 00:12:13,360 --> 00:12:16,640 Speaker 1: thank goodness, you're stopping him. Going back to comments he 204 00:12:16,679 --> 00:12:20,400 Speaker 1: made in two thousand and six talking about how dangerous 205 00:12:20,400 --> 00:12:25,240 Speaker 1: Epstein was, that you know that he threw Epstein out 206 00:12:25,280 --> 00:12:29,720 Speaker 1: of his club, talking about how Epstein was disgusting, saying 207 00:12:29,760 --> 00:12:34,040 Speaker 1: of Julane Maxwell, Epstein's operative, she is evil and to 208 00:12:34,160 --> 00:12:38,520 Speaker 1: focus on her and quote Trump told the police chief 209 00:12:39,679 --> 00:12:43,160 Speaker 1: that he was around Epstein once when teenagers were present, 210 00:12:43,440 --> 00:12:45,920 Speaker 1: and Trump quote got the hell out of there. 211 00:12:47,040 --> 00:12:48,280 Speaker 2: Unquote. 212 00:12:48,600 --> 00:12:53,199 Speaker 1: There's just no conversation that exists about Trump being involved 213 00:12:53,600 --> 00:12:57,920 Speaker 1: with children, which, as we've said here, not his style 214 00:12:57,960 --> 00:13:02,880 Speaker 1: in the slightest Trump Trump was not that guy. Let's 215 00:13:02,920 --> 00:13:06,400 Speaker 1: be clear. Trump got around and Trump did well. Trump 216 00:13:06,440 --> 00:13:09,520 Speaker 1: could pull okay, can I say it like that Trump 217 00:13:09,520 --> 00:13:13,440 Speaker 1: could pull And for the record, the women of New 218 00:13:13,520 --> 00:13:19,640 Speaker 1: York would have lined up for the opportunity to go second. Now, 219 00:13:19,840 --> 00:13:23,520 Speaker 1: some people are gonna be offended by that commentary, but 220 00:13:23,640 --> 00:13:24,559 Speaker 1: it's true. 221 00:13:24,520 --> 00:13:26,840 Speaker 2: And the women of New York know that. 222 00:13:26,640 --> 00:13:29,600 Speaker 1: That's true, So we don't have to pretend like I 223 00:13:29,720 --> 00:13:33,920 Speaker 1: said anything out of the realm. Women would have slept 224 00:13:33,960 --> 00:13:36,319 Speaker 1: with Donald Trump and then gone to their friends and. 225 00:13:36,280 --> 00:13:38,600 Speaker 2: Said, you will not believe what I just did. 226 00:13:39,120 --> 00:13:42,640 Speaker 1: They would have bragged about it, and their cucked husbands 227 00:13:42,679 --> 00:13:43,960 Speaker 1: would have bragged about it too. 228 00:13:44,920 --> 00:13:45,280 Speaker 2: Oh. 229 00:13:45,480 --> 00:13:48,199 Speaker 1: I don't think I am not a believer in rewriting 230 00:13:48,280 --> 00:13:49,560 Speaker 1: history at all. 231 00:13:49,760 --> 00:13:52,120 Speaker 2: I'm not trying to offend making sure we. 232 00:13:52,080 --> 00:13:55,200 Speaker 1: Understand it exactly as it is, and exactly as it 233 00:13:55,280 --> 00:13:57,760 Speaker 1: is is that Trump was not involved with kids. There's 234 00:13:57,760 --> 00:13:59,760 Speaker 1: not a single ounce of proof of it. And every 235 00:13:59,840 --> 00:14:03,640 Speaker 1: day the political left engages a disgusting story for the 236 00:14:03,720 --> 00:14:07,800 Speaker 1: sake of political destruction, which tells us how little the 237 00:14:07,840 --> 00:14:12,480 Speaker 1: left actually cares about children. Between not caring about going 238 00:14:12,640 --> 00:14:19,000 Speaker 1: after those people who abuse children, sexually exploited children, traffic children, 239 00:14:19,920 --> 00:14:22,680 Speaker 1: between what they do with quote unquote gender affirming care 240 00:14:22,720 --> 00:14:23,480 Speaker 1: and children. 241 00:14:23,200 --> 00:14:25,640 Speaker 2: Being mutilated and they don't care. They don't care about 242 00:14:25,680 --> 00:14:27,120 Speaker 2: kids at all. 243 00:14:27,240 --> 00:14:32,680 Speaker 1: I am happy to see that there are now one 244 00:14:32,840 --> 00:14:35,360 Speaker 1: or two people on the political left there is a 245 00:14:35,400 --> 00:14:38,840 Speaker 1: conversation about doing away with the statute of limitations on 246 00:14:38,880 --> 00:14:43,360 Speaker 1: sex trafficking. I don't know if there is a legal 247 00:14:43,400 --> 00:14:46,080 Speaker 1: conversation about why we have a statute of limitations and 248 00:14:46,800 --> 00:14:52,320 Speaker 1: purposefulness therein. But on its face, why would we ever 249 00:14:52,360 --> 00:14:57,240 Speaker 1: have a statute of limitations on sex trafficking? Which I 250 00:14:57,320 --> 00:14:59,880 Speaker 1: guess could lead to one hundred of other conversations about 251 00:15:00,080 --> 00:15:03,200 Speaker 1: what we have statutes of limitations on. But I was 252 00:15:03,240 --> 00:15:10,280 Speaker 1: discussing the reach conversation, the idea of how much these 253 00:15:10,280 --> 00:15:17,960 Speaker 1: Epstein files have created so many problems for so many people. Now, 254 00:15:18,320 --> 00:15:21,880 Speaker 1: let's start where we start, which is we all have 255 00:15:22,000 --> 00:15:26,160 Speaker 1: to admit that President Trump handled this wrong, and it 256 00:15:26,240 --> 00:15:29,560 Speaker 1: was a rare miss from the President, and the administration 257 00:15:29,640 --> 00:15:33,200 Speaker 1: has handled it wrong. And Bondie really handled it wrong, 258 00:15:33,440 --> 00:15:36,479 Speaker 1: going back to the binders she gave to the influencers, 259 00:15:37,360 --> 00:15:40,160 Speaker 1: all terrible. When Trump said why are we paying attention 260 00:15:40,200 --> 00:15:43,440 Speaker 1: to this? He was wrong. And I'm happy to see 261 00:15:43,480 --> 00:15:45,920 Speaker 1: more and more stuff getting out, more and more information 262 00:15:45,960 --> 00:15:49,360 Speaker 1: getting to people. If victims want to name names, they 263 00:15:49,360 --> 00:15:51,560 Speaker 1: have to deal with the consequences of that. Elon Musk 264 00:15:51,600 --> 00:15:54,840 Speaker 1: has said that he would support any he would take 265 00:15:54,840 --> 00:15:56,720 Speaker 1: care of any legal fee that these women have to 266 00:15:56,800 --> 00:15:59,640 Speaker 1: deal with. It's up to them. But I am in 267 00:15:59,680 --> 00:16:02,920 Speaker 1: favor of the information getting out so those who are 268 00:16:02,920 --> 00:16:06,120 Speaker 1: involved with abusing children can be brought to justice, which 269 00:16:06,200 --> 00:16:09,920 Speaker 1: is everything we've ever wanted. But one of the places 270 00:16:10,040 --> 00:16:16,480 Speaker 1: this has has reached is Keure Starmer. The chief of 271 00:16:16,520 --> 00:16:18,720 Speaker 1: staff to Kere Starmer, a god my, the named Morgan 272 00:16:18,800 --> 00:16:25,160 Speaker 1: McSweeney resigned. Now, why does this, why does this matter? 273 00:16:25,280 --> 00:16:28,320 Speaker 1: Why does this lead to a story of UK Starmer 274 00:16:28,400 --> 00:16:30,920 Speaker 1: is in danger of becoming first leader to fall in 275 00:16:30,920 --> 00:16:34,560 Speaker 1: the Epstein scandal. That is the headline over at the 276 00:16:34,600 --> 00:16:41,360 Speaker 1: Wall Street Journal. Now Starmer is incredibly unpopular, and he's 277 00:16:41,400 --> 00:16:46,240 Speaker 1: incredibly unpopular because anytime you vote for labor, anytime you 278 00:16:46,320 --> 00:16:51,200 Speaker 1: vote for leftists, you're getting a disaster. Unfettered immigration, a 279 00:16:51,280 --> 00:16:55,280 Speaker 1: support of eliminating free speech, of jailing people for what 280 00:16:55,320 --> 00:17:00,840 Speaker 1: they say on social media. It is madness. This is 281 00:17:01,000 --> 00:17:05,080 Speaker 1: about the Epstein files and the revelation that Starmer's picked 282 00:17:05,119 --> 00:17:07,399 Speaker 1: to be the British ambassador, a guy by named of 283 00:17:07,440 --> 00:17:14,880 Speaker 1: Peter Mandelsson was very entwined with Epstein. Mandolsson has quit 284 00:17:14,960 --> 00:17:17,760 Speaker 1: the House of Lords, which is the British Parliament's upper chamber. 285 00:17:18,000 --> 00:17:22,160 Speaker 1: There's a police investigation into whether he shared market sensitive 286 00:17:22,240 --> 00:17:25,960 Speaker 1: information with Jeffrey Epstein. 287 00:17:27,960 --> 00:17:30,000 Speaker 2: Now labor lawmakers. 288 00:17:29,400 --> 00:17:33,400 Speaker 1: Threatened to use it to drum him out and to 289 00:17:33,440 --> 00:17:38,520 Speaker 1: help try and bring down the temperature that caused Starmer 290 00:17:39,320 --> 00:17:43,560 Speaker 1: to fire his chief of staff, who was a protege 291 00:17:44,480 --> 00:17:47,480 Speaker 1: dice pronounced I write protege, not protege protegee. 292 00:17:47,800 --> 00:17:50,920 Speaker 2: Sorry about that of Mandelssyn's. 293 00:17:50,480 --> 00:17:54,840 Speaker 1: Who took the blame of advising Starmer to hire Mandelssohn 294 00:17:54,880 --> 00:17:59,280 Speaker 1: to begin with, that's a lot of degrees of separation. 295 00:18:00,920 --> 00:18:05,159 Speaker 1: Mandalsson was involved with Epstein, Starmer hired Mandalssoon may or 296 00:18:05,240 --> 00:18:07,280 Speaker 1: may not have known all of the things, may or 297 00:18:07,320 --> 00:18:09,280 Speaker 1: may not have asked questions about all the things. And 298 00:18:09,359 --> 00:18:11,359 Speaker 1: I don't know if necessarily that is in and of 299 00:18:11,440 --> 00:18:15,439 Speaker 1: itself disqualifying. But the Epstein connection got so great that 300 00:18:15,520 --> 00:18:22,240 Speaker 1: he had to fire somebody who told him to hire Mandlsshon. Wow, 301 00:18:22,359 --> 00:18:26,680 Speaker 1: that's exactly the response I had, Like, that's a that's 302 00:18:26,720 --> 00:18:29,720 Speaker 1: a real bit of pressure. I have to do something 303 00:18:30,320 --> 00:18:37,359 Speaker 1: to make the bleeding stop. That's a real something. Now, 304 00:18:37,680 --> 00:18:40,560 Speaker 1: the head of communications for Downing Street right ten Downing Street, 305 00:18:40,680 --> 00:18:42,760 Speaker 1: which is the home of the Prime Minister. So the 306 00:18:42,800 --> 00:18:46,680 Speaker 1: Prime Minister's office quit, the fourth person to hold the 307 00:18:46,800 --> 00:18:50,200 Speaker 1: job in the past year. And then the head of 308 00:18:50,240 --> 00:18:53,200 Speaker 1: the Scottish Labor Party has called on Starmer to step 309 00:18:53,280 --> 00:19:00,640 Speaker 1: down because quote, the distraction needs to end. Oh my, now, 310 00:19:00,760 --> 00:19:03,680 Speaker 1: this could just be a reason for a pylon because 311 00:19:03,720 --> 00:19:08,560 Speaker 1: Starmar is so unpopular anyway. But if it happens now 312 00:19:08,600 --> 00:19:11,000 Speaker 1: you have to take a look at leaders who had 313 00:19:11,040 --> 00:19:14,920 Speaker 1: connections to Starmer and see what their governments do, because 314 00:19:14,960 --> 00:19:17,440 Speaker 1: they're going to react to the people who are gonna 315 00:19:17,440 --> 00:19:20,520 Speaker 1: want We can't have somebody connected to this pedophile and 316 00:19:20,600 --> 00:19:21,359 Speaker 1: sex trafficker. 317 00:19:21,400 --> 00:19:22,600 Speaker 2: Ebstein. Absolutely not. 318 00:19:24,160 --> 00:19:29,680 Speaker 1: Other foreign leaders about to see heads roll. Let's watch, 319 00:19:29,680 --> 00:19:33,479 Speaker 1: shall we Trump won't be one of them, though that 320 00:19:33,600 --> 00:19:34,400 Speaker 1: much is obvious. 321 00:19:34,680 --> 00:19:40,240 Speaker 2: This is Tony Katz today. 322 00:19:45,280 --> 00:19:48,240 Speaker 1: So everybody wants to say this economy is going great, 323 00:19:48,280 --> 00:19:49,840 Speaker 1: except for all the people who want to say this 324 00:19:49,880 --> 00:19:53,560 Speaker 1: economy is going terrible. As always, it's a political conversation 325 00:19:53,640 --> 00:19:57,200 Speaker 1: to which we have no interest. What is actually happening 326 00:19:57,600 --> 00:20:00,800 Speaker 1: Scott Bessant, who is doing the job, the exact job 327 00:20:00,840 --> 00:20:03,280 Speaker 1: we said he should do. Get out there and say, 328 00:20:03,320 --> 00:20:06,160 Speaker 1: here's what the Trump economy is doing. Here's what's growing, 329 00:20:06,200 --> 00:20:08,600 Speaker 1: here's what's getting better, here's what's to look for, and 330 00:20:08,640 --> 00:20:10,879 Speaker 1: here is why it's working. This is going to make 331 00:20:10,920 --> 00:20:13,479 Speaker 1: a huge difference in the midterms. He's now doing this, 332 00:20:13,520 --> 00:20:16,320 Speaker 1: but he's getting into conversations of how inflation is two 333 00:20:16,320 --> 00:20:20,440 Speaker 1: point one percent, which well, I don't think it's two 334 00:20:20,480 --> 00:20:23,919 Speaker 1: point one percent unless something shifted and there is a 335 00:20:23,960 --> 00:20:26,720 Speaker 1: measure that we should be paying attention to. Tony Katz. 336 00:20:26,760 --> 00:20:29,480 Speaker 1: Tony Katz today, good to be here, Good to be 337 00:20:29,640 --> 00:20:32,639 Speaker 1: with you. Doctor Mattwell joined us right now economists at 338 00:20:32,680 --> 00:20:35,480 Speaker 1: the University of Indianapolis. I want to get to the 339 00:20:35,600 --> 00:20:40,639 Speaker 1: inflation number. Let's start with what we're seeing. This was 340 00:20:40,720 --> 00:20:49,240 Speaker 1: CNBC with the reporting that you have a very very 341 00:20:49,280 --> 00:20:55,119 Speaker 1: disappointing holiday sales number. December retail sales were flat, falling 342 00:20:55,200 --> 00:20:59,199 Speaker 1: well short of the estimate. Now, not everything means what 343 00:20:59,280 --> 00:21:03,600 Speaker 1: a headline means, and we saw from holiday sales that 344 00:21:03,640 --> 00:21:06,000 Speaker 1: people were buying luxury goods and were not buying the 345 00:21:06,080 --> 00:21:08,600 Speaker 1: other goods. So they may have spent more money on 346 00:21:08,640 --> 00:21:11,159 Speaker 1: the one specific item, but it didn't mean they were 347 00:21:11,200 --> 00:21:13,080 Speaker 1: spending more money on overall. It probably meant they were 348 00:21:13,080 --> 00:21:16,960 Speaker 1: spending less money overall. And this is therefore not surprising. 349 00:21:17,400 --> 00:21:19,960 Speaker 1: But you take a look at this report on holiday 350 00:21:20,040 --> 00:21:23,560 Speaker 1: sales and where it says sales were flat in December 351 00:21:23,840 --> 00:21:28,280 Speaker 1: following a point six percent increase in November. Economists with 352 00:21:28,320 --> 00:21:31,400 Speaker 1: the Dow Johnes Survey expected a point four percent increase 353 00:21:31,720 --> 00:21:34,439 Speaker 1: for December. What does this story tell you. 354 00:21:35,000 --> 00:21:37,200 Speaker 2: Well, you know, you've been saying a lot recently about 355 00:21:37,240 --> 00:21:40,800 Speaker 2: there's a lot of confusing economic data. We welcome to 356 00:21:40,880 --> 00:21:44,040 Speaker 2: the mix. This is another piece because it contradicts a 357 00:21:44,080 --> 00:21:46,000 Speaker 2: lot of what we've already seen far as far as 358 00:21:46,040 --> 00:21:50,320 Speaker 2: positive GDP numbers. When you break down the GDP, so, yeah, 359 00:21:50,359 --> 00:21:52,760 Speaker 2: it's flat. We were at seven hundred and thirty five 360 00:21:52,760 --> 00:21:55,480 Speaker 2: billion dollars of sales retail sales in November, and we 361 00:21:55,480 --> 00:21:57,919 Speaker 2: were at seven hundred and thirty five billion dollars of 362 00:21:57,960 --> 00:22:01,760 Speaker 2: retail sales in December. That's even worse about this is 363 00:22:01,800 --> 00:22:03,920 Speaker 2: the core. So you know we a we talk about 364 00:22:03,960 --> 00:22:06,639 Speaker 2: the core, remove energy and housing and you end up 365 00:22:06,640 --> 00:22:10,480 Speaker 2: in a negative zero point one percent and So if 366 00:22:10,520 --> 00:22:13,760 Speaker 2: you think expectations were, you know, higher point four, like 367 00:22:13,800 --> 00:22:18,480 Speaker 2: you mentioned, we're half a percent below expectations. This indicates 368 00:22:18,520 --> 00:22:21,760 Speaker 2: a slowing of the economy. And remember we bragged about that. 369 00:22:21,880 --> 00:22:25,280 Speaker 2: The Atlanta Fed said the GDP forecast is up above 370 00:22:25,359 --> 00:22:28,159 Speaker 2: five percent. They're going to revise that this week. I 371 00:22:28,240 --> 00:22:31,080 Speaker 2: bet you it comes down below five percent. This is 372 00:22:31,200 --> 00:22:35,880 Speaker 2: two thirds of the economy is consumer spending. So when 373 00:22:35,880 --> 00:22:39,960 Speaker 2: the core declines and shrinks, that's not a good sign. 374 00:22:40,080 --> 00:22:42,479 Speaker 1: First things first, let's make sure we define core. How 375 00:22:42,520 --> 00:22:44,040 Speaker 1: do you define core for everybody? 376 00:22:44,600 --> 00:22:47,760 Speaker 2: Remove energy, remove housing, remove transportation. 377 00:22:49,119 --> 00:22:56,640 Speaker 1: Now, the the one month of December is not necessarily 378 00:22:56,760 --> 00:23:00,800 Speaker 1: indicative of the entirety of an economy. It could have 379 00:23:00,880 --> 00:23:04,800 Speaker 1: been a whole host of reasons why this holiday season 380 00:23:04,880 --> 00:23:07,920 Speaker 1: didn't see the spending. People waiting to spend their money 381 00:23:07,960 --> 00:23:11,040 Speaker 1: on other things, thinking that things will turn around in 382 00:23:11,119 --> 00:23:14,160 Speaker 1: six months and I have a better opportunity in Trump's economy, 383 00:23:14,520 --> 00:23:18,560 Speaker 1: or it says, my gosh, this is the end of times. 384 00:23:18,880 --> 00:23:22,560 Speaker 1: So is it right to lead this one report as 385 00:23:22,800 --> 00:23:25,399 Speaker 1: or this one month as Yep, it's all over, it's 386 00:23:25,440 --> 00:23:26,000 Speaker 1: all terrible. 387 00:23:26,640 --> 00:23:28,119 Speaker 2: No, not at all. And by the way, I forgot 388 00:23:28,119 --> 00:23:31,720 Speaker 2: to food also foods removed from the core. So no, 389 00:23:32,200 --> 00:23:35,040 Speaker 2: actually the opposite. I think it's a one piece of 390 00:23:35,119 --> 00:23:39,080 Speaker 2: data that contradicts other data that we've gotten. So I 391 00:23:39,160 --> 00:23:42,200 Speaker 2: want to wait and see. People should not overreact. In fact, 392 00:23:42,680 --> 00:23:45,119 Speaker 2: the market, let me tell you how much it didn't overreact. 393 00:23:45,240 --> 00:23:47,720 Speaker 2: The market actually went up. Yeah, and in fact, here's 394 00:23:47,760 --> 00:23:50,359 Speaker 2: how much it didn't overreact. The Wall Street Journal needn't 395 00:23:50,520 --> 00:23:54,000 Speaker 2: even put it on the front page of its daily webcast. 396 00:23:54,119 --> 00:23:57,040 Speaker 1: And this is where it gets This is where I 397 00:23:57,119 --> 00:23:59,720 Speaker 1: think it gets people nuts. Tony Katz here along with 398 00:23:59,760 --> 00:24:02,800 Speaker 1: doc to Matt Will, economists at the University of Indianapolis. 399 00:24:03,880 --> 00:24:07,400 Speaker 1: The Dow continued to rise. You know, we haven't even mentioned. 400 00:24:07,080 --> 00:24:09,399 Speaker 2: The fact that we are over Dow fifty k. 401 00:24:10,480 --> 00:24:14,240 Speaker 1: I mean, that's a that's an outstanding and insane number. 402 00:24:14,720 --> 00:24:16,920 Speaker 1: The Dow is up, I think near two hundred points 403 00:24:16,920 --> 00:24:18,760 Speaker 1: at one time today, and who knows where it's going to, 404 00:24:19,119 --> 00:24:20,320 Speaker 1: where it's going to end. 405 00:24:21,000 --> 00:24:23,080 Speaker 2: But there really seems to be nothing. 406 00:24:23,200 --> 00:24:27,480 Speaker 1: Even when there's some kind of jarring moment that takes place, 407 00:24:27,720 --> 00:24:29,600 Speaker 1: like Bitcoin going from one hundred and twenty six to 408 00:24:29,640 --> 00:24:31,240 Speaker 1: sixty two thousand, everyone's. 409 00:24:30,880 --> 00:24:32,480 Speaker 2: Like, oh my gosh, what's happening. 410 00:24:33,080 --> 00:24:36,399 Speaker 1: Everything just works itself back up. We saw silver go 411 00:24:36,640 --> 00:24:38,919 Speaker 1: from one hundred and twenty dollars an ounce to sixty 412 00:24:38,960 --> 00:24:41,160 Speaker 1: four dollars an ounce back up to eighty some odd 413 00:24:41,240 --> 00:24:46,359 Speaker 1: dollars an ounce. Nothing seems to rattle anybody. Everything seems 414 00:24:46,359 --> 00:24:49,119 Speaker 1: to be moving ahead. Tariffs are no tariffs, et cetera. 415 00:24:49,680 --> 00:24:52,480 Speaker 1: Are we all paying way too much attention to the market. 416 00:24:53,240 --> 00:24:55,439 Speaker 2: No, no, no, I think we should pay more attention 417 00:24:55,520 --> 00:24:58,760 Speaker 2: to the market because the market's up for two reasons today. 418 00:24:58,800 --> 00:25:02,119 Speaker 2: One is treasury yield to damn So the Kevin Wars 419 00:25:02,200 --> 00:25:05,440 Speaker 2: trade is legitimate. Everybody believes, Okay, this guy's going to 420 00:25:05,480 --> 00:25:08,280 Speaker 2: get confirmed. Treasury rates are going to get cut. So 421 00:25:08,320 --> 00:25:11,320 Speaker 2: this is this is good. Second thing. Earnings. You can't 422 00:25:11,359 --> 00:25:15,600 Speaker 2: deny earnings. Taiwan Semiconductor had their best month in the 423 00:25:15,640 --> 00:25:19,399 Speaker 2: history of their company last month. Gucci, a luxury brand, 424 00:25:19,600 --> 00:25:23,480 Speaker 2: they saw profits up. Spotify profits up, by the way 425 00:25:23,840 --> 00:25:26,080 Speaker 2: because they're using ai instead of one air talent. But 426 00:25:26,160 --> 00:25:29,280 Speaker 2: let's move along. Coca Cola, that stuff they used to 427 00:25:29,920 --> 00:25:32,120 Speaker 2: a little bit today, but they're up twenty three percent 428 00:25:32,280 --> 00:25:36,159 Speaker 2: for the year. That's not normal for Coca Cola. I 429 00:25:36,200 --> 00:25:38,919 Speaker 2: mean this is a commodity. This is a basic, you know, 430 00:25:39,000 --> 00:25:42,600 Speaker 2: staple of your home. And Barkley's. Barkley's increased their forecast 431 00:25:42,720 --> 00:25:46,240 Speaker 2: by five percent for the year. Tony, it's raining. Good news, 432 00:25:46,640 --> 00:25:49,320 Speaker 2: and so the market's up. So the retail I want 433 00:25:49,320 --> 00:25:51,720 Speaker 2: to sit tight. I want to see what happens next month. 434 00:25:52,040 --> 00:25:55,160 Speaker 2: But it is consistent with the anecdotal stuff you've talked 435 00:25:55,200 --> 00:25:57,960 Speaker 2: about about. You know, people aren't quite as active as they. 436 00:25:57,840 --> 00:26:01,160 Speaker 1: Were talking to doctor Matt Well, anonomous at the University 437 00:26:01,160 --> 00:26:03,920 Speaker 1: of Indianapolis. And trust me, when people are using AI 438 00:26:04,040 --> 00:26:06,480 Speaker 1: for their content creation doesn't make me happy at all. 439 00:26:06,960 --> 00:26:10,720 Speaker 1: It's a legit serious issue for those of us who 440 00:26:10,720 --> 00:26:14,439 Speaker 1: are in content creation. But you talk about these groups 441 00:26:14,480 --> 00:26:17,480 Speaker 1: being up and certainly Coca Cola being up twenty three percent, 442 00:26:18,080 --> 00:26:21,080 Speaker 1: Let's break that down a little bit. What was what 443 00:26:21,200 --> 00:26:24,119 Speaker 1: did we expect or what was the thought there that 444 00:26:24,160 --> 00:26:26,679 Speaker 1: the average would be. And when you see what I 445 00:26:26,680 --> 00:26:28,639 Speaker 1: would call a blue chip, maybe it's not officially a 446 00:26:28,680 --> 00:26:31,800 Speaker 1: blue chat, it is a blue chet like Coca Cola 447 00:26:31,800 --> 00:26:35,520 Speaker 1: being up twenty three percent. What does that say to 448 00:26:35,600 --> 00:26:36,760 Speaker 1: economists like yourself. 449 00:26:37,359 --> 00:26:39,680 Speaker 2: It's pretty fascinating because Coca Cola is one of those 450 00:26:39,840 --> 00:26:44,119 Speaker 2: regular stable five percent six percent per year growth, plus 451 00:26:44,119 --> 00:26:47,840 Speaker 2: they pay a decent dividend, very predictable. But this year, 452 00:26:47,880 --> 00:26:51,320 Speaker 2: what happened with them is they have pricing power. That 453 00:26:51,480 --> 00:26:54,840 Speaker 2: is one of those additional confusion points. They had the 454 00:26:54,840 --> 00:26:59,520 Speaker 2: ability to significantly increase their price. They didn't increase their sales. 455 00:26:59,520 --> 00:27:02,440 Speaker 2: It was a normal increase in sales. But they were 456 00:27:02,480 --> 00:27:06,120 Speaker 2: able to have pricing power not just because of inflation, 457 00:27:06,440 --> 00:27:09,280 Speaker 2: but because the consumer was willing to pay it. That 458 00:27:09,440 --> 00:27:13,439 Speaker 2: is very unusual, which means the consumer is spending money, 459 00:27:13,840 --> 00:27:17,480 Speaker 2: which contradicts the darn retail sales data. I'm going to 460 00:27:17,520 --> 00:27:18,480 Speaker 2: stop you right there. 461 00:27:18,600 --> 00:27:23,440 Speaker 1: Chippotle just came out and said, our plan for slumping 462 00:27:23,520 --> 00:27:27,760 Speaker 1: sales is we don't care about poor people. If you're poor, 463 00:27:28,200 --> 00:27:31,600 Speaker 1: don't be buying our burritos. No extra guacam only for you, 464 00:27:32,000 --> 00:27:34,960 Speaker 1: our average customer. We want being at one hundred thousand 465 00:27:35,000 --> 00:27:36,919 Speaker 1: dollars a year or more they can. 466 00:27:36,840 --> 00:27:38,000 Speaker 2: Afford what we offer. 467 00:27:38,200 --> 00:27:42,560 Speaker 1: We're going to address them aggressively. We want the people 468 00:27:42,880 --> 00:27:46,280 Speaker 1: who are willing to spend more. So Coca Cola, Chipotle, 469 00:27:47,119 --> 00:27:49,840 Speaker 1: all of them have said, embrace the higher price than 470 00:27:49,880 --> 00:27:50,720 Speaker 1: Americans said. 471 00:27:50,800 --> 00:27:54,920 Speaker 2: Sounds good, okay, Chipotle put them aside. Okay, let's talk 472 00:27:54,960 --> 00:27:58,560 Speaker 2: about Coca Cola, because that's a product that everybody purchases. 473 00:27:58,960 --> 00:28:01,359 Speaker 2: So Coca Cola, which I believe is a very good 474 00:28:01,400 --> 00:28:04,680 Speaker 2: bell weather indicator of how the economy is. They are 475 00:28:04,720 --> 00:28:08,439 Speaker 2: saying even people on the lower income bracket can afford 476 00:28:08,480 --> 00:28:13,280 Speaker 2: an increase in the price. That's a very dramatic statement. Now, 477 00:28:13,359 --> 00:28:16,320 Speaker 2: is this because of leftover COVID money. I don't know 478 00:28:16,359 --> 00:28:18,080 Speaker 2: if that's the case, because there's still a bunch of 479 00:28:18,119 --> 00:28:21,560 Speaker 2: cash out there. I think it could be because of 480 00:28:21,640 --> 00:28:25,119 Speaker 2: overall good news rising of the economy. The ship is 481 00:28:25,200 --> 00:28:28,160 Speaker 2: going up, so you know, rising tide lifts all ships. 482 00:28:28,440 --> 00:28:30,280 Speaker 2: I think that's what we're seeing here. At least that's 483 00:28:30,280 --> 00:28:32,919 Speaker 2: what Coca Cola is telling us, and I do trust 484 00:28:32,960 --> 00:28:34,440 Speaker 2: them more than a lot of other companies. 485 00:28:34,800 --> 00:28:40,520 Speaker 1: This plays into a conversation that Scott Bessons was having 486 00:28:40,520 --> 00:28:43,800 Speaker 1: with Maria Bartiromo on. 487 00:28:43,200 --> 00:28:44,520 Speaker 2: On Fox Business. 488 00:28:45,040 --> 00:28:49,320 Speaker 1: It is a conversation that I said he should be having. 489 00:28:49,760 --> 00:28:52,880 Speaker 1: We have discussed this that he has to be proactive 490 00:28:53,000 --> 00:28:56,600 Speaker 1: in talking about what is happening in this Trump economy 491 00:28:56,640 --> 00:28:58,320 Speaker 1: and how things are working. 492 00:28:58,920 --> 00:29:02,720 Speaker 2: This was got essence just the other day. 493 00:29:03,040 --> 00:29:06,480 Speaker 4: Trump economy is delivering for the American people, that we 494 00:29:06,920 --> 00:29:09,600 Speaker 4: have strong growth and inflation is. 495 00:29:09,520 --> 00:29:10,480 Speaker 2: In fact coming down. 496 00:29:10,560 --> 00:29:14,440 Speaker 4: For the past three months, inflation is two point one percent, 497 00:29:14,600 --> 00:29:18,360 Speaker 4: close to the Federal reserves target, and a measure called trueflation, 498 00:29:18,680 --> 00:29:23,360 Speaker 4: which is daily observations now is below one percent. So 499 00:29:23,520 --> 00:29:28,200 Speaker 4: inflation down, strong growth, stocks at a record high, and 500 00:29:28,680 --> 00:29:32,080 Speaker 4: the low it's crime rate in over one hundred years. 501 00:29:32,160 --> 00:29:36,800 Speaker 1: Tim, don't get me wrong, I'm happy about low crime rates. 502 00:29:37,240 --> 00:29:41,080 Speaker 1: But I think the largest scale conversation here is this 503 00:29:41,200 --> 00:29:45,640 Speaker 1: idea of two point one and below one percent. First, 504 00:29:45,760 --> 00:29:48,080 Speaker 1: what is he talking about regarding trueflation? 505 00:29:49,000 --> 00:29:51,480 Speaker 2: You know, I think he may be a little bit confused, 506 00:29:51,600 --> 00:29:53,480 Speaker 2: you know, maybe like even when you and I talk 507 00:29:53,560 --> 00:29:56,160 Speaker 2: sometimes I may miss my data point of my reference. 508 00:29:56,600 --> 00:29:59,520 Speaker 2: I think he's referring to the National Bureau of Economic 509 00:30:00,480 --> 00:30:02,800 Speaker 2: There was a paper written recently by some folks from 510 00:30:02,960 --> 00:30:07,920 Speaker 2: MIT that talked about the inflation figure, this ongoing constant, 511 00:30:07,920 --> 00:30:10,880 Speaker 2: which I guess maybe he's calling true inflation, And they 512 00:30:10,920 --> 00:30:15,320 Speaker 2: said it wasn't inflation, it was a decrease in purchasing power. 513 00:30:15,960 --> 00:30:18,800 Speaker 2: They referred to it as point seven percent or two 514 00:30:18,880 --> 00:30:21,479 Speaker 2: point one percent for three months. I think that's what 515 00:30:21,520 --> 00:30:24,800 Speaker 2: he's referring to, and what they said is the tariffs 516 00:30:25,120 --> 00:30:29,200 Speaker 2: have caused a point seven percent decrease in real wages, 517 00:30:29,240 --> 00:30:32,240 Speaker 2: which you could think of as okay inflation. I think 518 00:30:32,280 --> 00:30:34,040 Speaker 2: that's what he's referring to. But I got to tell 519 00:30:34,080 --> 00:30:38,480 Speaker 2: you that's an obscure number to pluck out of thin air. 520 00:30:38,520 --> 00:30:41,400 Speaker 2: When this month, this week, this week, we're going to 521 00:30:41,400 --> 00:30:45,920 Speaker 2: have the inflation report, and the current expectation is roll 522 00:30:45,960 --> 00:30:49,080 Speaker 2: the drums point three. That's going to be a three 523 00:30:49,080 --> 00:30:52,760 Speaker 2: point six percent for the year if that comes in 524 00:30:52,800 --> 00:30:57,400 Speaker 2: as expected. So the expectation is inflation's here, but let's 525 00:30:57,400 --> 00:30:58,720 Speaker 2: wait and see what the report says. 526 00:30:58,760 --> 00:31:04,120 Speaker 1: And this gets more peculiar, and and we've talked about 527 00:31:04,120 --> 00:31:06,480 Speaker 1: it as a sticking point that I don't think he 528 00:31:06,520 --> 00:31:08,720 Speaker 1: should say inflation's at two point one when it's not 529 00:31:08,800 --> 00:31:09,600 Speaker 1: a two point one. 530 00:31:10,120 --> 00:31:12,560 Speaker 2: When as you're describing. 531 00:31:11,960 --> 00:31:15,680 Speaker 1: It, doctor Will, there's really good economic news out there. 532 00:31:16,040 --> 00:31:19,000 Speaker 1: Things are moving in a diright direction that can eventually 533 00:31:19,040 --> 00:31:21,000 Speaker 1: bring this inflation down. 534 00:31:21,280 --> 00:31:22,160 Speaker 2: And one of those. 535 00:31:21,960 --> 00:31:24,640 Speaker 1: Things, as you discussed it, I think it was last week, 536 00:31:24,640 --> 00:31:27,520 Speaker 1: maybe this was the week before we saw an uptick 537 00:31:27,520 --> 00:31:31,680 Speaker 1: in manufacturing. Yes, the manufacturing number showed an up now. 538 00:31:31,680 --> 00:31:34,280 Speaker 1: I don't know when the next manufacturing report comes out, 539 00:31:34,800 --> 00:31:37,880 Speaker 1: but look at you, he's going right to it. He's 540 00:31:37,880 --> 00:31:40,320 Speaker 1: going right to his all his data to make sure 541 00:31:40,360 --> 00:31:44,080 Speaker 1: he's got it for us. How what kind of things 542 00:31:44,120 --> 00:31:47,320 Speaker 1: can we be looking for because we if earnings reports 543 00:31:47,360 --> 00:31:49,360 Speaker 1: are good, which is certainly is going to help people's 544 00:31:49,360 --> 00:31:50,480 Speaker 1: fur one ks and other. 545 00:31:50,320 --> 00:31:52,800 Speaker 2: Things, spending is down. 546 00:31:53,080 --> 00:31:56,040 Speaker 1: That could be something that is temporary because it's spending 547 00:31:56,120 --> 00:31:58,760 Speaker 1: in one category and not necessarily talking about the spending 548 00:31:58,800 --> 00:32:02,280 Speaker 1: that we're seeing in some other category. It manufacturing goes 549 00:32:02,400 --> 00:32:05,800 Speaker 1: up for three months in a row, what does that 550 00:32:05,840 --> 00:32:07,800 Speaker 1: signal to Wall Street? And how do we feel it 551 00:32:07,800 --> 00:32:08,840 Speaker 1: on Midwest Main Street? 552 00:32:09,240 --> 00:32:12,160 Speaker 2: Okay, I'm gonna I'm gonna take your question, twist it 553 00:32:12,200 --> 00:32:15,520 Speaker 2: all around and say these guys are missing the boat 554 00:32:15,560 --> 00:32:17,720 Speaker 2: of an opportunity. You've talked about some of the great 555 00:32:17,720 --> 00:32:20,320 Speaker 2: things that are happening, but they're lying to the public 556 00:32:20,360 --> 00:32:23,720 Speaker 2: about inflation. The ISM report, by the way, comes out 557 00:32:23,760 --> 00:32:27,240 Speaker 2: the first of every month, and the ISM report, after 558 00:32:27,400 --> 00:32:32,239 Speaker 2: ten months of declining, manufacturing went up dramatically fifty two 559 00:32:32,320 --> 00:32:35,560 Speaker 2: point six. That is a huge increase in manufacturing. It 560 00:32:35,640 --> 00:32:38,960 Speaker 2: was shrinking at forty seven. Anything below fifties break even. 561 00:32:39,800 --> 00:32:45,560 Speaker 2: New orders were up, production was up, Supplier deliveries were up. 562 00:32:45,680 --> 00:32:49,240 Speaker 2: These are things that had been declining for ten months. 563 00:32:49,760 --> 00:32:53,680 Speaker 2: Backlog of orders. Finally, there's a backlog of orders. That 564 00:32:53,880 --> 00:32:56,480 Speaker 2: is a good thing when companies can't even make enough 565 00:32:56,480 --> 00:32:59,720 Speaker 2: stuff to fill the orders. And new orders were new 566 00:32:59,800 --> 00:33:03,040 Speaker 2: order up, backlog of orders up. But guess what else 567 00:33:03,120 --> 00:33:07,320 Speaker 2: was up? Prices. Prices were at the highest level we've 568 00:33:07,360 --> 00:33:10,400 Speaker 2: seen in the last year, and they were trending up 569 00:33:10,440 --> 00:33:11,880 Speaker 2: for sixteen months in a row. 570 00:33:11,960 --> 00:33:15,880 Speaker 1: Now, wait, is that a tariff conversation or is that 571 00:33:15,960 --> 00:33:18,920 Speaker 1: learning from Coca Cola and Chipotle that they. 572 00:33:18,880 --> 00:33:24,760 Speaker 2: Can that's a tarriff conversation because this is manufacturers. So manufacturers' 573 00:33:24,760 --> 00:33:27,000 Speaker 2: costs have been up for sixteen months in a row, 574 00:33:27,080 --> 00:33:29,640 Speaker 2: and this was the largest one month increase we've seen 575 00:33:30,080 --> 00:33:33,200 Speaker 2: since the you know, the Liberation Day back in April. 576 00:33:33,960 --> 00:33:36,160 Speaker 2: Besson has to be honest with people and say, there's 577 00:33:36,200 --> 00:33:39,640 Speaker 2: all these great things in manufacturing, orders and production, but 578 00:33:40,160 --> 00:33:43,560 Speaker 2: we've still got the battle inflation. I think people aren't stupid. 579 00:33:43,600 --> 00:33:46,040 Speaker 2: I think they know there's still inflation out there, and 580 00:33:46,080 --> 00:33:48,280 Speaker 2: we see it in the retail numbers. I think that's 581 00:33:48,280 --> 00:33:51,160 Speaker 2: why the retail numbers in December were down because of inflation. 582 00:33:52,360 --> 00:33:56,280 Speaker 1: Doctor Matt Will, economist at the University of Indianapolis. I 583 00:33:56,320 --> 00:33:58,480 Speaker 1: appreciate you taking the time to be with us. More 584 00:33:58,600 --> 00:34:02,000 Speaker 1: is coming out, bon Toni Katz. This is Tony Katz today. 585 00:34:02,360 --> 00:34:06,360 Speaker 5: When we did the story, we did it after the midterms. 586 00:34:07,480 --> 00:34:10,480 Speaker 5: I argued against that because it was ready before the midterms, 587 00:34:10,480 --> 00:34:12,360 Speaker 5: and my training is that you should always do the 588 00:34:12,400 --> 00:34:15,239 Speaker 5: story when it's ready to go. You should not be 589 00:34:15,320 --> 00:34:17,280 Speaker 5: dictated by the political cycle. 590 00:34:18,000 --> 00:34:18,840 Speaker 2: Once we got the. 591 00:34:18,920 --> 00:34:22,839 Speaker 5: Laptop story on the Morning News, I felt that there 592 00:34:22,920 --> 00:34:26,280 Speaker 5: was so much there that we could still do. For example, 593 00:34:26,760 --> 00:34:33,360 Speaker 5: in the text messages, there's, unfortunately the use of the word, 594 00:34:34,000 --> 00:34:36,600 Speaker 5: the liberal use of the N word, and I thought 595 00:34:36,680 --> 00:34:38,800 Speaker 5: this was worthy of a story, but I was told 596 00:34:38,840 --> 00:34:42,640 Speaker 5: that it was not something that interested CBS News. 597 00:34:43,120 --> 00:34:49,200 Speaker 1: That's Captain Herridge saying that CBS had the story because 598 00:34:49,280 --> 00:34:53,040 Speaker 1: kin Herridge had the story regarding the Hunter Biden laptop 599 00:34:53,760 --> 00:34:56,280 Speaker 1: and she was told she could not share that story 600 00:34:56,640 --> 00:35:00,520 Speaker 1: until after the twenty twenty two midterms to help the 601 00:35:00,560 --> 00:35:05,040 Speaker 1: Democratic Party. And people are upset with Barry Weiss. Of 602 00:35:05,080 --> 00:35:08,879 Speaker 1: course they are, because the left absolutely loves this They 603 00:35:08,920 --> 00:35:13,480 Speaker 1: want to control media and control narrative, control stories, do 604 00:35:13,560 --> 00:35:15,959 Speaker 1: not allow the truth to be out because they want 605 00:35:16,120 --> 00:35:19,360 Speaker 1: power over anything and they don't care what they do 606 00:35:19,480 --> 00:35:24,120 Speaker 1: to get it. It is an incredible revelation. The problem 607 00:35:24,200 --> 00:35:27,000 Speaker 1: is you absolutely believed it before you even heard it. 608 00:35:27,719 --> 00:35:29,400 Speaker 1: I don't know, is that a problem or is that 609 00:35:29,600 --> 00:35:32,520 Speaker 1: just sad? I don't know which way we'd look at it. 610 00:35:33,200 --> 00:35:37,279 Speaker 1: But when these news organizations like ms NOW or CNN, 611 00:35:38,400 --> 00:35:41,799 Speaker 1: or The Times or the Washington Post, and they want 612 00:35:41,800 --> 00:35:44,120 Speaker 1: our fealty, they want us to buy in, they want 613 00:35:44,200 --> 00:35:48,440 Speaker 1: us to believe. No, no, we're right not to believe them. 614 00:35:48,920 --> 00:35:51,719 Speaker 1: We are proper not to believe them. And I'm going 615 00:35:51,760 --> 00:35:54,800 Speaker 1: to continue going on not believing them at first plush, 616 00:35:55,360 --> 00:35:58,600 Speaker 1: They're never getting that credibility back. Find everything at Tony 617 00:35:58,640 --> 00:36:00,879 Speaker 1: Katz dot com tomorrow. Everyone, take care