1 00:00:05,200 --> 00:00:10,800 Speaker 1: Line from vall Hartbiner and the Crossroads of America. It's 2 00:00:10,880 --> 00:00:14,880 Speaker 1: Tony Katz today. No jobs numbers, and the market still 3 00:00:14,880 --> 00:00:17,160 Speaker 1: goes up. Now by the time you hear this, I 4 00:00:17,640 --> 00:00:19,360 Speaker 1: don't know. I mean, you might be getting the podcast, 5 00:00:19,440 --> 00:00:22,360 Speaker 1: you might be listening to it, who knows when. But 6 00:00:22,800 --> 00:00:25,400 Speaker 1: I mean there's a moment where the Dow is up 7 00:00:25,440 --> 00:00:31,400 Speaker 1: three seventy. So I guess the shutdown doesn't matter. That's 8 00:00:31,440 --> 00:00:37,879 Speaker 1: my take that the shutdown does not matter. The market 9 00:00:38,280 --> 00:00:41,840 Speaker 1: seemingly looking at some other things. Tony Katz, Tony Katz today, Guys, 10 00:00:41,880 --> 00:00:45,199 Speaker 1: what is going on? Find everything I do over at 11 00:00:45,240 --> 00:00:47,640 Speaker 1: Tony Katz dot com. You should do that. You should 12 00:00:47,640 --> 00:00:53,320 Speaker 1: do that immediately, if not sooner. The pure labor statistics 13 00:00:54,160 --> 00:00:58,920 Speaker 1: not able to put out any data because of the shutdown, 14 00:00:59,120 --> 00:01:02,520 Speaker 1: the shut down, the Schumer siesta. I don't care what 15 00:01:02,560 --> 00:01:04,319 Speaker 1: you call the thing. It makes no difference to me. 16 00:01:04,840 --> 00:01:07,680 Speaker 1: All I know is Chuck Schumer is taking all the 17 00:01:07,720 --> 00:01:14,120 Speaker 1: beatings on this, of course without question. And I love 18 00:01:14,160 --> 00:01:16,920 Speaker 1: that there's this story over there at the Wall Street Journal. 19 00:01:17,080 --> 00:01:21,520 Speaker 1: White House sends his political risk on healthcare despite shutdown. Bravado, 20 00:01:21,520 --> 00:01:25,560 Speaker 1: what are you talking about? I put forth now, does 21 00:01:25,600 --> 00:01:30,520 Speaker 1: anybody actually understand what is being discussed regarding extending Obamacare subsidies? 22 00:01:31,120 --> 00:01:35,120 Speaker 1: The answer is no. Now, I'm not gonna say totally no, 23 00:01:35,280 --> 00:01:38,680 Speaker 1: some people get it. Most people are like, my gosh, 24 00:01:39,080 --> 00:01:42,880 Speaker 1: this government is completely incompetent. These people can't figure out 25 00:01:42,920 --> 00:01:45,600 Speaker 1: a budget. These people can't figure out how to work together. 26 00:01:45,880 --> 00:01:48,720 Speaker 1: These people are all children, and if I ran my 27 00:01:48,800 --> 00:01:53,600 Speaker 1: life like this, I'd be destitute. But no, they always 28 00:01:53,600 --> 00:01:56,560 Speaker 1: have a never ending supply of cash because it's ours. 29 00:01:57,200 --> 00:02:00,840 Speaker 1: Don't get me wrong, I'm disgusted that the idea that 30 00:02:00,880 --> 00:02:04,440 Speaker 1: this is just a continuing resolution to get to November. 31 00:02:05,520 --> 00:02:07,920 Speaker 1: I don't know if everybody's aware of this. All this 32 00:02:08,040 --> 00:02:10,480 Speaker 1: cr does is get us to November twenty first, when 33 00:02:10,480 --> 00:02:13,760 Speaker 1: we're gonna have to do this again. So this idea 34 00:02:13,800 --> 00:02:17,840 Speaker 1: of the Obamacare subsidies, this could have been done for November. 35 00:02:17,880 --> 00:02:19,400 Speaker 1: They could have been working on it. No, it had 36 00:02:19,440 --> 00:02:22,840 Speaker 1: to be done right now. Why. Oh, because you had 37 00:02:22,840 --> 00:02:24,359 Speaker 1: to make it a big deal right now to show 38 00:02:24,400 --> 00:02:27,160 Speaker 1: that you're fighting for the American people. Oh, it's silly, 39 00:02:28,280 --> 00:02:31,680 Speaker 1: And that's my argument. This from the Wall Street Journal, 40 00:02:31,720 --> 00:02:36,160 Speaker 1: white House senses political risk on healthcare despite government shutdown 41 00:02:36,280 --> 00:02:41,919 Speaker 1: or despite shutdown, bravado, no, no, anything can be turned 42 00:02:41,960 --> 00:02:45,400 Speaker 1: against you, and with this media a ten thousand percent. 43 00:02:45,919 --> 00:02:52,440 Speaker 1: The story here is Chuck Schumer has failed epically because 44 00:02:52,600 --> 00:02:57,839 Speaker 1: people are being peeled away slowly but surely, bit by bit. 45 00:02:57,919 --> 00:03:00,680 Speaker 1: By the time you hear this, I think when you 46 00:03:00,760 --> 00:03:04,680 Speaker 1: hear this, it could be over right. Maybe you get 47 00:03:04,720 --> 00:03:06,840 Speaker 1: the podcast version and you don't hear this till tomorrow 48 00:03:06,840 --> 00:03:09,160 Speaker 1: and it's like, oh, yeah, there's no more shutdown. That's 49 00:03:09,200 --> 00:03:16,519 Speaker 1: the point. What is this idea? First things First, we 50 00:03:16,600 --> 00:03:20,480 Speaker 1: said it here that it is very clear and very 51 00:03:20,520 --> 00:03:26,000 Speaker 1: possible that Trump could take a look at extending Obamacare subsidies, 52 00:03:26,040 --> 00:03:28,520 Speaker 1: which sunset at the end of twenty twenty five, and say, 53 00:03:28,560 --> 00:03:31,520 Speaker 1: you know what, this is a good one for me. 54 00:03:31,960 --> 00:03:34,440 Speaker 1: This is a win for me. I'm saving healthcare. I 55 00:03:34,520 --> 00:03:37,200 Speaker 1: care about everybody. It's a first rule of trump Ism, 56 00:03:37,200 --> 00:03:39,680 Speaker 1: as Trump wins. Second rule of trump Ism is that 57 00:03:39,760 --> 00:03:41,760 Speaker 1: a deal can always be made as long as it 58 00:03:41,800 --> 00:03:44,680 Speaker 1: adheres to the first rule of trump Ism. And according 59 00:03:44,720 --> 00:03:48,640 Speaker 1: to sources, when they had the meeting with you had 60 00:03:48,960 --> 00:03:52,080 Speaker 1: Speaker Mike Johnson and the Senate Majority Leader John Thune, 61 00:03:52,120 --> 00:03:55,120 Speaker 1: both Republicans. Then you had a Keem Jeffries and Chuck 62 00:03:55,120 --> 00:03:57,520 Speaker 1: Schumer from the House. In the Senate, the Democrats, both 63 00:03:57,560 --> 00:04:00,480 Speaker 1: of them failed consinguly aries who need to be replaced leaders. 64 00:04:01,200 --> 00:04:07,160 Speaker 1: I'm sorry too, Tune neither. What this is not Nancy 65 00:04:07,200 --> 00:04:11,080 Speaker 1: Pelosi leadership. This is they cannot herd the cats together. 66 00:04:11,200 --> 00:04:14,000 Speaker 1: They're getting outflanked by their progressive left, even though they 67 00:04:14,000 --> 00:04:17,640 Speaker 1: are the progressive left. They are getting outflanked by the Republicans. 68 00:04:17,800 --> 00:04:22,200 Speaker 1: They're being beaten on every single level. These are not 69 00:04:22,240 --> 00:04:25,800 Speaker 1: wartime contigiliaries. They are not. Now some people are gonna say, Tony, 70 00:04:25,839 --> 00:04:29,040 Speaker 1: it's conciliary, not consiculiary. You know what, I'm just gonna 71 00:04:29,080 --> 00:04:32,320 Speaker 1: go with it, and I hope you do too. They 72 00:04:32,360 --> 00:04:35,440 Speaker 1: can't fight, they don't know how to fight. And Trump 73 00:04:35,480 --> 00:04:37,120 Speaker 1: can see an issue and say I can see how 74 00:04:37,160 --> 00:04:39,600 Speaker 1: that helps me and then turn it into his issue. 75 00:04:40,560 --> 00:04:43,480 Speaker 1: Inside the White House, aides are discussing proposals to extend 76 00:04:43,480 --> 00:04:46,799 Speaker 1: the enhanced subsidies for Affordable Care Act health insurance plans. 77 00:04:47,160 --> 00:04:50,280 Speaker 1: No kidding. You know who said that first? We did, 78 00:04:50,800 --> 00:04:54,440 Speaker 1: but we said it like this. We said Trump is 79 00:04:54,480 --> 00:04:56,760 Speaker 1: gonna take whatever it is they're talking about, turn it 80 00:04:56,760 --> 00:04:58,880 Speaker 1: into his subject and say Look what I did for you. 81 00:05:00,000 --> 00:05:02,640 Speaker 1: First rule of trump Ism. As Trump wins, the second 82 00:05:02,680 --> 00:05:05,080 Speaker 1: rule of trump Ism is a deal can always be 83 00:05:05,160 --> 00:05:07,600 Speaker 1: made as long as it adheres to the first rule 84 00:05:07,640 --> 00:05:11,640 Speaker 1: of trump Ism. Game over. We saw this coming a 85 00:05:11,800 --> 00:05:17,400 Speaker 1: mile away. We saw it. All Democrats are going to 86 00:05:17,480 --> 00:05:20,359 Speaker 1: try their best to say, look what we did. We 87 00:05:20,440 --> 00:05:23,680 Speaker 1: got President Trump to yield, to kneel, to this and that. 88 00:05:23,720 --> 00:05:26,680 Speaker 1: And Trump's gonna say, guys, these people are ridiculous. So 89 00:05:26,680 --> 00:05:28,680 Speaker 1: I always knew this was important. That's why I did this, 90 00:05:28,720 --> 00:05:30,039 Speaker 1: and that's why I did that, and that's why I 91 00:05:30,040 --> 00:05:32,159 Speaker 1: did the other. Look what I did for you. You're welcome. 92 00:05:32,279 --> 00:05:35,120 Speaker 1: These democrats are so intransitent, but not me. I'm working 93 00:05:35,120 --> 00:05:37,960 Speaker 1: for the people. Hey, don't forget. I'm the best guy 94 00:05:38,000 --> 00:05:39,719 Speaker 1: in the world. Now. Everybody tell me how great I am. 95 00:05:39,960 --> 00:05:42,120 Speaker 1: And that's all right. That's the part that drives me nuts. 96 00:05:42,760 --> 00:05:46,200 Speaker 1: Watching cabinet meetings is now very very difficult. President Trump, 97 00:05:46,400 --> 00:05:49,400 Speaker 1: you give me the air that I breathed. Could we 98 00:05:49,520 --> 00:05:53,080 Speaker 1: just stop it? Just stop it, mister president. You asked 99 00:05:53,120 --> 00:05:55,640 Speaker 1: us to do something. You said, boom, here's what we've done. 100 00:05:55,720 --> 00:05:58,880 Speaker 1: That's pretty logical. That happens in any cabinet meeting. Now, 101 00:05:58,920 --> 00:06:02,040 Speaker 1: maybe you don't remember that from Joe Biden cabinet meetings 102 00:06:02,160 --> 00:06:04,840 Speaker 1: because there were none, and if there was one, it 103 00:06:04,880 --> 00:06:08,039 Speaker 1: was run by Joe Biden, because Joe Biden was incapable 104 00:06:08,080 --> 00:06:10,760 Speaker 1: of running any cabinet meeting. Thank you, Cleveland, good night. 105 00:06:11,360 --> 00:06:14,960 Speaker 1: People still want to argue that he was on it, 106 00:06:15,200 --> 00:06:17,640 Speaker 1: that he was sharp as attack do. People still want 107 00:06:17,680 --> 00:06:20,520 Speaker 1: to argue that Hamas is interested in peace. I mean, 108 00:06:20,640 --> 00:06:24,200 Speaker 1: if we're gonna argue ridiculous things, argue Hamas is interested 109 00:06:24,200 --> 00:06:27,039 Speaker 1: in peace and Joe Biden was in charge of his administration, 110 00:06:27,160 --> 00:06:31,480 Speaker 1: go ahead, two absolutely ridiculous things that are proven lies 111 00:06:31,800 --> 00:06:36,320 Speaker 1: by the basic data. But we all knew this was coming. 112 00:06:36,600 --> 00:06:40,640 Speaker 1: We said this was coming. As we often discuss here, 113 00:06:40,640 --> 00:06:42,400 Speaker 1: it's not that you and I are really smarter than 114 00:06:42,440 --> 00:06:46,000 Speaker 1: anybody else. It's that we're more honest. We know what 115 00:06:46,040 --> 00:06:48,640 Speaker 1: Trump is, we know what he's like. We know the good, 116 00:06:48,920 --> 00:06:50,840 Speaker 1: we know the bad. Oh my gosh, I'm gonna start 117 00:06:50,839 --> 00:06:53,440 Speaker 1: thinking the facts of life theme song. We understand this. 118 00:06:54,120 --> 00:07:00,400 Speaker 1: Tooty understands it too. The closed door hand ringingss in 119 00:07:00,480 --> 00:07:04,000 Speaker 1: contrast to the public bravado conveyed by the president's top 120 00:07:04,080 --> 00:07:11,240 Speaker 1: advisors handwringing, this is all nuts. There's a great example 121 00:07:11,520 --> 00:07:16,440 Speaker 1: of an absolutely bull crap story. That's it's the woman 122 00:07:16,440 --> 00:07:20,400 Speaker 1: on the plane. That mother blanking story is not real. No, 123 00:07:21,320 --> 00:07:27,000 Speaker 1: everybody knew what was coming. It didn't take work. But 124 00:07:27,160 --> 00:07:29,000 Speaker 1: they have to go sell their paper, they have to 125 00:07:29,000 --> 00:07:34,600 Speaker 1: go sell their subscriptions that this is silly. Republican strategist 126 00:07:34,640 --> 00:07:37,560 Speaker 1: wit airs. It has the potential to be a significant issue. 127 00:07:37,680 --> 00:07:39,840 Speaker 1: Whether it becomes what or not depends upon the course 128 00:07:39,840 --> 00:07:42,960 Speaker 1: of the election. No, no, no, no, I don't think 129 00:07:42,960 --> 00:07:46,880 Speaker 1: you understand Trump at all. He's a populist, not a conservative. 130 00:07:47,360 --> 00:07:49,600 Speaker 1: He's gonna do it because it's gonna make him look good. 131 00:07:50,920 --> 00:07:53,480 Speaker 1: I'm not saying I'm in favor of it. Oh gosh, 132 00:07:53,480 --> 00:07:54,520 Speaker 1: oh gosh. I'm sorry. 133 00:07:55,040 --> 00:07:55,200 Speaker 2: Oh. 134 00:07:55,240 --> 00:07:56,640 Speaker 1: I didn't want to make it sound like I was 135 00:07:56,640 --> 00:07:59,040 Speaker 1: in favor of it. No, no, no, no, I'm talking about 136 00:07:59,120 --> 00:08:02,600 Speaker 1: understanding what's happened. Whether I'm in favorite or not, it's 137 00:08:02,640 --> 00:08:05,760 Speaker 1: completely different, subject to times. But the first things first, 138 00:08:05,960 --> 00:08:08,000 Speaker 1: we always have to be honest and clear about what 139 00:08:08,040 --> 00:08:11,240 Speaker 1: it is that is happening, and they are not and 140 00:08:11,280 --> 00:08:14,400 Speaker 1: we are. And that's the difference. We saw this coming 141 00:08:14,440 --> 00:08:17,720 Speaker 1: a mile away. We saw this around the corner, down 142 00:08:17,720 --> 00:08:21,040 Speaker 1: the hall, locked in a room, we saw every part 143 00:08:21,080 --> 00:08:24,560 Speaker 1: of it, and here it comes strattoned down. 're like, yeah, yeah, 144 00:08:24,600 --> 00:08:29,040 Speaker 1: we knew because we did do I like it. I 145 00:08:29,080 --> 00:08:30,960 Speaker 1: want to get rid of Obamacare. But now we go 146 00:08:31,000 --> 00:08:34,000 Speaker 1: to where Republicans have been the absolute weakest. All right, Republicans, 147 00:08:34,040 --> 00:08:35,959 Speaker 1: you don't want to Obamacare? What do you want? And 148 00:08:36,000 --> 00:08:42,800 Speaker 1: they literally said, and I'm quoting here, you can't not 149 00:08:43,000 --> 00:08:46,080 Speaker 1: have an answer. We're gonna get rid of it in 150 00:08:46,240 --> 00:08:50,840 Speaker 1: every single way. We're gonna make sure that this socialist 151 00:08:50,880 --> 00:08:54,000 Speaker 1: abomination never sees the light of day again. That would 152 00:08:54,040 --> 00:08:55,880 Speaker 1: have been an answer, but they did an answer like that, 153 00:08:56,200 --> 00:08:59,040 Speaker 1: and they still if you ask me, like, well, you know, 154 00:09:00,400 --> 00:09:04,360 Speaker 1: what do you mean? Well, you know Obamacare is not 155 00:09:04,480 --> 00:09:08,200 Speaker 1: a way to create better healthcare outcomes. It just isn't. 156 00:09:08,520 --> 00:09:11,360 Speaker 1: We need to be looking at a regulatory environment and 157 00:09:11,400 --> 00:09:13,480 Speaker 1: we need to be asking ourselves what it is we 158 00:09:13,520 --> 00:09:17,720 Speaker 1: want for doctors. Yes, doctors making money is a good thing. 159 00:09:17,960 --> 00:09:21,200 Speaker 1: It brings more people into the field. Yes, we want 160 00:09:21,320 --> 00:09:24,480 Speaker 1: drug companies making money because it allows for more innovation. 161 00:09:24,800 --> 00:09:27,280 Speaker 1: We don't want to stifle innovation by capping what it 162 00:09:27,360 --> 00:09:29,959 Speaker 1: is they can make, but we certainly want to take 163 00:09:30,000 --> 00:09:32,200 Speaker 1: a look at what is being spent by the American 164 00:09:32,280 --> 00:09:35,400 Speaker 1: consumer and ask how we can reduce that via the 165 00:09:35,440 --> 00:09:39,679 Speaker 1: regulatory burden. So the answer to the healthcare question is 166 00:09:39,720 --> 00:09:43,000 Speaker 1: not we need some kind of great government program. The 167 00:09:43,120 --> 00:09:46,640 Speaker 1: answer starts with what are we doing to be involved 168 00:09:46,679 --> 00:09:49,120 Speaker 1: in and to meddle in the market, and how do 169 00:09:49,240 --> 00:09:52,880 Speaker 1: we get out of it. The people screaming government intervention 170 00:09:52,960 --> 00:09:56,360 Speaker 1: are always screaming government intervention, and there's never amount of 171 00:09:56,440 --> 00:10:00,760 Speaker 1: government intervention that's enough. Well, government intervention means government control, 172 00:10:00,840 --> 00:10:04,000 Speaker 1: and I do not want governments controlling your healthcare. I 173 00:10:04,040 --> 00:10:06,840 Speaker 1: want you and your doctor deciding what's best for you. 174 00:10:07,400 --> 00:10:10,080 Speaker 1: And the Left promised that with Obamacare, and they lie 175 00:10:10,160 --> 00:10:13,600 Speaker 1: through their damn teeth because Barack Obama was is and 176 00:10:13,640 --> 00:10:16,240 Speaker 1: always will be a liar. Remember when he told you 177 00:10:16,240 --> 00:10:18,319 Speaker 1: that he was going to build a library in Chicago 178 00:10:18,400 --> 00:10:25,680 Speaker 1: and it's going to look beautiful. Case rested. So we 179 00:10:25,760 --> 00:10:28,719 Speaker 1: believe that we should be taking a look at healthcare 180 00:10:28,720 --> 00:10:32,000 Speaker 1: in the United States through the market perspective and saying 181 00:10:32,120 --> 00:10:34,560 Speaker 1: what is government doing to get in the way and 182 00:10:34,720 --> 00:10:37,440 Speaker 1: get out of the way so moms can talk to 183 00:10:37,520 --> 00:10:40,880 Speaker 1: doctors and make decisions that are best for their kids. 184 00:10:41,280 --> 00:10:46,079 Speaker 1: Then we can discuss helping those who might need the help. Now, 185 00:10:46,600 --> 00:10:49,640 Speaker 1: the Republicans can't can't say it, they can't do it 186 00:10:50,040 --> 00:10:52,280 Speaker 1: because the response is, oh, great, so you're gonna let 187 00:10:52,320 --> 00:10:56,160 Speaker 1: people die. That's a weird response from weird people. But 188 00:10:56,280 --> 00:10:58,880 Speaker 1: what do I expect from the left because they're unsirious? 189 00:10:59,600 --> 00:11:02,880 Speaker 1: I start with a basic premise, why can't mothers and 190 00:11:02,920 --> 00:11:05,839 Speaker 1: doctors figure this out? What is stopping them from being 191 00:11:05,840 --> 00:11:08,000 Speaker 1: able to do things? What is happening on the insurance 192 00:11:08,000 --> 00:11:12,400 Speaker 1: regulatory side, what's happening on our own laws that are 193 00:11:12,440 --> 00:11:14,760 Speaker 1: stopping some of these things from happening. Once we can 194 00:11:14,800 --> 00:11:17,360 Speaker 1: eliminate those, can't we take a look at other things 195 00:11:17,360 --> 00:11:20,040 Speaker 1: we could do. Can't we at least start there. But 196 00:11:20,080 --> 00:11:22,280 Speaker 1: the idea that government is the answer, it is not 197 00:11:23,080 --> 00:11:28,160 Speaker 1: the answer. It can't do it. It can't. We have 198 00:11:28,320 --> 00:11:31,640 Speaker 1: seen this, We are fully aware of it. I've got 199 00:11:31,640 --> 00:11:34,640 Speaker 1: local cities that can't fix a pothole. You think they 200 00:11:34,640 --> 00:11:39,680 Speaker 1: can run healthcare? Honey, what are we doing? But the 201 00:11:39,760 --> 00:11:41,960 Speaker 1: left puts this idea out there that there has to 202 00:11:41,960 --> 00:11:43,440 Speaker 1: be a plan, There has to be plan. You don't 203 00:11:43,440 --> 00:11:45,280 Speaker 1: have a plan you won't do the thing. You don't care. 204 00:11:45,720 --> 00:11:48,240 Speaker 1: These people have to be broken of this idea. And 205 00:11:48,280 --> 00:11:50,240 Speaker 1: the way to do that is to remind the American 206 00:11:50,280 --> 00:11:54,240 Speaker 1: people that governments can't it has a purpose, it has 207 00:11:54,280 --> 00:11:57,239 Speaker 1: a function article on Section eight. It could do the military, 208 00:11:57,280 --> 00:12:00,360 Speaker 1: and after that it fails. It has to be us. 209 00:12:01,320 --> 00:12:05,120 Speaker 1: How do we increase the opportunities for people, reduce the 210 00:12:05,160 --> 00:12:07,920 Speaker 1: burdens on the doctors, on the hospitals, and on the 211 00:12:07,960 --> 00:12:12,839 Speaker 1: others that are involved in this world, and then we 212 00:12:12,880 --> 00:12:16,000 Speaker 1: go from there. Now, if you ask me, Tony, do 213 00:12:16,000 --> 00:12:17,839 Speaker 1: you think it's right that you pay an insurance company 214 00:12:17,880 --> 00:12:19,800 Speaker 1: and all of a sudden they decide, well, they're not 215 00:12:19,880 --> 00:12:22,120 Speaker 1: going to ensure because of X, Y and Z. I 216 00:12:22,200 --> 00:12:24,839 Speaker 1: think that stuff is maddening. How do we go about 217 00:12:24,840 --> 00:12:29,160 Speaker 1: fixing that? How do we go about solving those issues? Now, 218 00:12:29,200 --> 00:12:32,760 Speaker 1: that could involve legislation, but that's done by the representation 219 00:12:32,840 --> 00:12:36,040 Speaker 1: of we the people, as opposed to a top down 220 00:12:36,160 --> 00:12:40,360 Speaker 1: feat of government mandate run by bureaucrats that are unaccountable 221 00:12:40,400 --> 00:12:43,080 Speaker 1: to the people because it comes from some agency that's 222 00:12:43,120 --> 00:12:48,120 Speaker 1: given all sorts of shelter and unlimited budgets. You think 223 00:12:48,160 --> 00:12:52,520 Speaker 1: this conversation is hard well, it is. The axiom in 224 00:12:52,600 --> 00:12:55,840 Speaker 1: politics is if you're explaining, you're losing, which is why 225 00:12:55,960 --> 00:13:00,360 Speaker 1: Chuck Schumer is losing this battle regarding the shutdown because 226 00:13:00,360 --> 00:13:02,760 Speaker 1: he has to explain and the explanation is going over 227 00:13:02,840 --> 00:13:09,400 Speaker 1: like a lead balloon. Nobody is interested, nobody's listening. It's 228 00:13:09,720 --> 00:13:12,720 Speaker 1: it's so clear that the Republicans have won the messaging 229 00:13:12,760 --> 00:13:15,600 Speaker 1: of you're so scared of Representative of Cassio Quartes, You're 230 00:13:15,640 --> 00:13:17,640 Speaker 1: trying to be tough so liberals will think that you're 231 00:13:17,679 --> 00:13:23,840 Speaker 1: top in vote for you, which is not happening. I 232 00:13:23,920 --> 00:13:29,559 Speaker 1: actually have this exclusive audio of Schumer's campaign speaking to 233 00:13:29,640 --> 00:13:33,839 Speaker 1: him about the election that is so setch. Gretchen, stop 234 00:13:33,880 --> 00:13:36,720 Speaker 1: trying to make Setch happen. It's not going to happen, 235 00:13:37,200 --> 00:13:43,040 Speaker 1: and neither is your reelection. I mean, Schumer is is crafty. 236 00:13:43,160 --> 00:13:46,280 Speaker 1: If Schumer can put AOC in the trunk, he's going 237 00:13:46,360 --> 00:13:48,800 Speaker 1: to do it. He'll pull out any stop. There is 238 00:13:48,840 --> 00:13:51,679 Speaker 1: no name calling, there is no photo, he wouldn't release 239 00:13:51,840 --> 00:13:54,520 Speaker 1: whatever he can get his hands on. He's going to 240 00:13:54,559 --> 00:14:00,560 Speaker 1: do power. Hungry people want power, so no one is surprised. 241 00:14:01,040 --> 00:14:03,200 Speaker 1: But when it comes to out gare Republicans have not 242 00:14:03,360 --> 00:14:06,560 Speaker 1: crafted a retort or a response, even a hard one 243 00:14:06,600 --> 00:14:09,080 Speaker 1: like the one I gave, because you can argue mine's 244 00:14:09,120 --> 00:14:12,640 Speaker 1: not pretty, mine's not sexy, but it's a retort, it's 245 00:14:12,640 --> 00:14:17,679 Speaker 1: a response. It is actually based on a philosophy. Republicans 246 00:14:17,720 --> 00:14:20,720 Speaker 1: had nothing to respond with and they still don't, and 247 00:14:20,760 --> 00:14:24,320 Speaker 1: it's why they are vulnerable on the issue. But the 248 00:14:24,440 --> 00:14:27,680 Speaker 1: idea that Trump is handwringing about this, according to the 249 00:14:27,680 --> 00:14:30,760 Speaker 1: Wall Street Journal, is for cocta nuts. No he's not, 250 00:14:31,600 --> 00:14:34,120 Speaker 1: because as a populist, he doesn't need to have a 251 00:14:34,120 --> 00:14:37,800 Speaker 1: political philosophy behind it. He just has to say sounds 252 00:14:37,840 --> 00:14:40,000 Speaker 1: good and the people will love me, make it happen. 253 00:14:40,960 --> 00:14:43,840 Speaker 1: And that's what's going to happen. And my point to 254 00:14:43,880 --> 00:14:48,160 Speaker 1: you is we saw that coming. Democrats didn't know because 255 00:14:48,160 --> 00:14:51,080 Speaker 1: Democrats are engaged in a shutdown for a completely different reason. 256 00:14:52,160 --> 00:14:55,160 Speaker 1: And slowly but surely Democrats are gonna get peeled away 257 00:14:55,440 --> 00:14:57,880 Speaker 1: because no one's willing to die on the cross for 258 00:14:58,120 --> 00:15:01,760 Speaker 1: Chuck Schumer. I think the shutdown ends in three more days. 259 00:15:02,560 --> 00:15:05,200 Speaker 1: Maybe it takes another thirty days. I could be wrong, 260 00:15:06,560 --> 00:15:10,200 Speaker 1: but Trump handringing's the craziest thing I ever heard. I'm 261 00:15:10,240 --> 00:15:12,920 Speaker 1: Tony Kats this is Tony kats Today. Hamas has been 262 00:15:12,960 --> 00:15:15,400 Speaker 1: a ruthless and violent threat for many years in the 263 00:15:15,400 --> 00:15:18,800 Speaker 1: Middle East. They have killed and made lives unbearably miserable, 264 00:15:19,080 --> 00:15:23,800 Speaker 1: culminating with the October seventh massacre in Israel. Babies, women, children, 265 00:15:23,840 --> 00:15:26,160 Speaker 1: old people, and many young men and women, boys and 266 00:15:26,200 --> 00:15:29,640 Speaker 1: girls getting ready to celebrate their future lives together as 267 00:15:29,720 --> 00:15:33,320 Speaker 1: retribution for the October seventh attack on civilization. More than 268 00:15:33,400 --> 00:15:37,760 Speaker 1: twenty five thousand Hamas quote unquote soldiers have already been killed. 269 00:15:37,920 --> 00:15:42,840 Speaker 1: That is just the start of how President Trump begins 270 00:15:43,040 --> 00:15:47,000 Speaker 1: this post on truth social Tony Katz, Tony Kats Today, 271 00:15:47,120 --> 00:15:49,560 Speaker 1: good to be with you. I made note of the 272 00:15:49,680 --> 00:15:56,320 Speaker 1: fact New York Post with the headline that Hamas is 273 00:15:56,640 --> 00:16:02,640 Speaker 1: rejecting the peace deal. So now what I want are 274 00:16:02,800 --> 00:16:08,120 Speaker 1: all those absolute fools in my Twitter stream, all of 275 00:16:08,160 --> 00:16:13,680 Speaker 1: you social media not you, all those social media trolls, 276 00:16:15,240 --> 00:16:17,800 Speaker 1: tell me more about this genocide nonsense you want to 277 00:16:17,840 --> 00:16:22,960 Speaker 1: talk about. Israel agrees to a peace plan, Israel agrees 278 00:16:23,000 --> 00:16:26,600 Speaker 1: to withdraw the soldiers. You have to have Hamas surrender 279 00:16:26,640 --> 00:16:30,560 Speaker 1: and give up their weapons. And Amasa is like, nah, 280 00:16:30,640 --> 00:16:34,040 Speaker 1: it's never been a genocide. It's always a lie. Oh, well, 281 00:16:34,240 --> 00:16:36,520 Speaker 1: Israel had to know that this attack was coming. I 282 00:16:36,520 --> 00:16:38,640 Speaker 1: don't know what Israel knew or didn't know. All I 283 00:16:38,720 --> 00:16:41,120 Speaker 1: know is they were caught flat footed. I think it's insane. 284 00:16:41,160 --> 00:16:43,840 Speaker 1: They didn't have prior information or intel, and I think 285 00:16:43,880 --> 00:16:45,960 Speaker 1: people need to be fired. And I said, so, what 286 00:16:46,000 --> 00:16:47,560 Speaker 1: the hell does that have to do with Right now, 287 00:16:48,040 --> 00:16:51,680 Speaker 1: everybody screaming Israel's guilty of a genocide is a liar 288 00:16:52,080 --> 00:16:54,600 Speaker 1: and a fraud. They don't want it to end. They 289 00:16:54,640 --> 00:16:56,440 Speaker 1: want dead Jews, and then they want the end of 290 00:16:56,480 --> 00:17:01,720 Speaker 1: Western civilization. It is that simple. It's done. Oh don't 291 00:17:01,720 --> 00:17:04,280 Speaker 1: tell me about Tucker or Candas or Magan Kelly or 292 00:17:04,320 --> 00:17:08,959 Speaker 1: anybody else. There is a reality to the situation that 293 00:17:09,000 --> 00:17:12,520 Speaker 1: we are looking at. Here's the peace deal, here's how 294 00:17:12,560 --> 00:17:16,280 Speaker 1: you get out alive. Nope, you just have to give 295 00:17:16,320 --> 00:17:18,800 Speaker 1: back the hostages. Nope, you have to lay down your 296 00:17:18,880 --> 00:17:22,040 Speaker 1: arms and walk away, and the Palestinian people get to 297 00:17:22,080 --> 00:17:26,240 Speaker 1: live in peace. Nope. And then you have people on 298 00:17:26,280 --> 00:17:30,840 Speaker 1: the left saying, look at the Israeli genocide. What kind 299 00:17:30,880 --> 00:17:33,679 Speaker 1: of nonsense is this? This is only the nonsense that 300 00:17:33,720 --> 00:17:37,680 Speaker 1: the left could put out. The facts are punching them 301 00:17:37,760 --> 00:17:40,719 Speaker 1: in the face. And they don't care. They've been proven 302 00:17:40,760 --> 00:17:44,040 Speaker 1: as liars, im proven his frauds. You might actually believe 303 00:17:44,080 --> 00:17:46,439 Speaker 1: that Greta Tunberg is on some kind of mission to 304 00:17:46,480 --> 00:17:52,560 Speaker 1: save people. Gretaitunberg is a mentally disturbed child now an 305 00:17:52,560 --> 00:17:55,520 Speaker 1: adult who's been abused her whole life and doesn't know 306 00:17:55,560 --> 00:17:59,840 Speaker 1: which end is up. You think she's making your own decisions. 307 00:17:59,840 --> 00:18:02,560 Speaker 1: Here she went from saying you're going to kill the 308 00:18:02,640 --> 00:18:05,480 Speaker 1: environment and destroy everybody on the planet to all of 309 00:18:05,520 --> 00:18:09,960 Speaker 1: a sudden saying I support the terrorists. And by the way, 310 00:18:10,040 --> 00:18:13,640 Speaker 1: next week, when there's something new and shiny, she'll support that. 311 00:18:13,920 --> 00:18:18,640 Speaker 1: Everyone knows that, right. All these people screaming Israel and genocide. 312 00:18:19,600 --> 00:18:22,720 Speaker 1: When there's something new next week, they'll be all about 313 00:18:22,760 --> 00:18:25,560 Speaker 1: being on the wrong side of that, because that's all 314 00:18:25,560 --> 00:18:29,159 Speaker 1: they know how to do. But people screaming Israel guilty 315 00:18:29,160 --> 00:18:32,560 Speaker 1: of a genocide are liars and frauds. Here's the peace deal. 316 00:18:32,640 --> 00:18:36,960 Speaker 1: Israel said yes, and Hamas says no thanks. And what's 317 00:18:37,000 --> 00:18:40,840 Speaker 1: their sticking point? We won't give up because Hamas is 318 00:18:40,880 --> 00:18:44,600 Speaker 1: interested in dead Jews and then destroying Western civilization. They 319 00:18:44,640 --> 00:18:47,480 Speaker 1: are not interested in peace. They're not interested in a 320 00:18:47,520 --> 00:18:50,679 Speaker 1: two state solution. I saw Roe Kahana, the Congressman progressive 321 00:18:50,720 --> 00:18:53,120 Speaker 1: from California, who at least is a guy you could 322 00:18:53,160 --> 00:18:55,959 Speaker 1: talk to, even though I disagree with them politically, saying 323 00:18:56,119 --> 00:18:59,160 Speaker 1: I favor the two state solution. Well that's great, Congressman Kahana, 324 00:18:59,320 --> 00:19:03,280 Speaker 1: but Hamas Hamas favors dead Jews, Israel destroyed, and then 325 00:19:03,359 --> 00:19:08,879 Speaker 1: you next they've told you and they're supported by college 326 00:19:08,880 --> 00:19:11,639 Speaker 1: stud It's a Columbia name your other university, and the 327 00:19:11,680 --> 00:19:14,879 Speaker 1: trolls on my Twitter feed and I'm supposed to take 328 00:19:14,920 --> 00:19:19,920 Speaker 1: them seriously. Bitch, Please, let's get serious. Let's get serious. 329 00:19:20,400 --> 00:19:22,879 Speaker 1: The free and thinking world must accept that it is 330 00:19:22,960 --> 00:19:25,560 Speaker 1: them or us. It is the people who want the 331 00:19:25,560 --> 00:19:29,280 Speaker 1: worldwide califate and they're supporters on social media, or it 332 00:19:29,359 --> 00:19:31,240 Speaker 1: is the free and thinking people of the world who 333 00:19:31,280 --> 00:19:36,280 Speaker 1: want to keep living free and thinking. That's it. This 334 00:19:36,359 --> 00:19:40,639 Speaker 1: isn't about Jews, this is about you. I'm Tony Katz. 335 00:19:40,680 --> 00:19:46,720 Speaker 1: This is Tony Katz today. So as we were saying, 336 00:19:47,119 --> 00:19:50,800 Speaker 1: you've got the shutdown that is preventing the Bureau of 337 00:19:50,840 --> 00:19:53,320 Speaker 1: Labor Statistics from putting out its numbers, I mean it 338 00:19:53,440 --> 00:19:55,680 Speaker 1: could put out the numbers, but no one's working or 339 00:19:55,680 --> 00:19:58,160 Speaker 1: they're not getting paid to work. The point is they're 340 00:19:58,160 --> 00:19:59,920 Speaker 1: not putting out the numbers, so we don't know joh 341 00:20:00,240 --> 00:20:02,960 Speaker 1: numbers and a whole host of things. Yet the market 342 00:20:04,040 --> 00:20:06,840 Speaker 1: up three hundred points plus. Who knows where it'll end. 343 00:20:06,960 --> 00:20:10,440 Speaker 1: But it hasn't shown that it's somehow bothered or affected 344 00:20:10,480 --> 00:20:13,840 Speaker 1: by any of this. Tony Katz, Tony Katz today, Good 345 00:20:13,880 --> 00:20:16,920 Speaker 1: to be with you. Doctor mattwill joins us economist at 346 00:20:16,920 --> 00:20:21,280 Speaker 1: the University of Indianapolis. Let's start with some basic stuff here. 347 00:20:21,840 --> 00:20:24,000 Speaker 1: Do you need the numbers? Do they even matter to 348 00:20:24,040 --> 00:20:24,600 Speaker 1: the markets? 349 00:20:26,359 --> 00:20:30,120 Speaker 2: Well, they do matter, but we can't get them. I'll 350 00:20:30,160 --> 00:20:32,480 Speaker 2: answer your question in more details in a moment. But 351 00:20:32,880 --> 00:20:35,679 Speaker 2: Elizabeth Warren, she's screaming to release the report, and you 352 00:20:35,720 --> 00:20:38,000 Speaker 2: had just mentioned, well, could we release support. We actually 353 00:20:38,080 --> 00:20:42,280 Speaker 2: can't because people compile the report, they do surveys, and 354 00:20:42,280 --> 00:20:44,879 Speaker 2: they haven't been working for two days. They're working on 355 00:20:44,920 --> 00:20:47,080 Speaker 2: this thing up until the last minute, so it's just 356 00:20:47,160 --> 00:20:51,480 Speaker 2: not available. First of all, does it matter? Yes? And no, okay, 357 00:20:51,760 --> 00:20:54,280 Speaker 2: it does matter because we need data that tells us 358 00:20:54,280 --> 00:20:56,960 Speaker 2: the direction of the market. We need data to tell 359 00:20:57,000 --> 00:20:59,880 Speaker 2: us if there's a trend. But no, we don't need 360 00:20:59,880 --> 00:21:02,800 Speaker 2: it because we have the ADP data, we have the 361 00:21:03,240 --> 00:21:06,600 Speaker 2: ISM data, we have the information that came out from 362 00:21:06,600 --> 00:21:09,600 Speaker 2: the GDP recently up to three point eight percent. We've 363 00:21:09,640 --> 00:21:13,119 Speaker 2: got other information, and we all know the labor market 364 00:21:13,160 --> 00:21:15,520 Speaker 2: is weak. So all this would do is reinforce what 365 00:21:15,560 --> 00:21:18,080 Speaker 2: we already know. So it's not the end of the world. 366 00:21:18,119 --> 00:21:20,200 Speaker 2: It's fine that we don't get the report today. 367 00:21:20,040 --> 00:21:24,760 Speaker 1: But it's clear that people do utilize those reports for 368 00:21:24,840 --> 00:21:28,840 Speaker 1: a level of reaction, and it can keep the market timid, 369 00:21:28,920 --> 00:21:31,920 Speaker 1: it can make things explode. But when you see a 370 00:21:32,000 --> 00:21:36,320 Speaker 1: daylight today, you are left with the feeling of First 371 00:21:36,359 --> 00:21:38,959 Speaker 1: of all, shutdowns don't affect anything, which is an argument 372 00:21:39,000 --> 00:21:42,600 Speaker 1: that I have made in part and the other part 373 00:21:42,600 --> 00:21:46,159 Speaker 1: of it is the market doesn't care what the numbers say. 374 00:21:46,440 --> 00:21:49,639 Speaker 1: Whatever makes things go up and allows them to cash 375 00:21:49,640 --> 00:21:53,960 Speaker 1: out only thing that matters. We saw oil refineries in 376 00:21:54,040 --> 00:21:58,600 Speaker 1: Russia getting bombed by Ukraine and oil prices went down. 377 00:21:59,119 --> 00:22:04,600 Speaker 1: So do the numbers matter anymore to this economy, into 378 00:22:04,640 --> 00:22:06,520 Speaker 1: this market, No. 379 00:22:06,359 --> 00:22:10,159 Speaker 2: They do matter. We need data. You can't make a 380 00:22:10,200 --> 00:22:12,400 Speaker 2: decision you don't know if there's too many people being 381 00:22:12,480 --> 00:22:14,800 Speaker 2: laid off or too many people being hired. I guess. 382 00:22:14,800 --> 00:22:17,360 Speaker 2: You can't have too many people being hired. You don't 383 00:22:17,359 --> 00:22:19,960 Speaker 2: know if the economy is growing or the economy shrinking. No, 384 00:22:20,080 --> 00:22:23,480 Speaker 2: you need data. Without data, you can't make decisions. Even 385 00:22:23,520 --> 00:22:25,600 Speaker 2: though the data is flawed, and we've talked about that 386 00:22:25,720 --> 00:22:28,480 Speaker 2: on your show. The BLS data is flawed, but the 387 00:22:28,520 --> 00:22:32,399 Speaker 2: market knows it's flawed. The market fixes the data. It says, Okay, 388 00:22:32,560 --> 00:22:34,040 Speaker 2: it's going to come in low, but we're going to 389 00:22:34,080 --> 00:22:38,280 Speaker 2: revise it even lower. We need the data, and the 390 00:22:38,359 --> 00:22:40,879 Speaker 2: market is good at it. But we have lots of data. 391 00:22:41,280 --> 00:22:42,880 Speaker 2: It's not the end of the world if we don't 392 00:22:42,880 --> 00:22:47,520 Speaker 2: get this today now. Long term, we need it long term. 393 00:22:47,680 --> 00:22:50,800 Speaker 2: The Fed uses this long term. This Congress and the 394 00:22:50,800 --> 00:22:54,160 Speaker 2: President uses this data to make decisions. So we do 395 00:22:54,240 --> 00:22:56,399 Speaker 2: need it. But trust me, we can live today. And 396 00:22:56,440 --> 00:22:58,520 Speaker 2: by the way, the market's up. Why is it up, 397 00:22:58,720 --> 00:23:01,120 Speaker 2: because it already is incorporated this in when the ADP 398 00:23:01,320 --> 00:23:04,400 Speaker 2: data came out and it was negative, and that reinforced 399 00:23:04,440 --> 00:23:07,399 Speaker 2: previous data we had that was negative on the labor market. 400 00:23:08,080 --> 00:23:10,879 Speaker 2: It's already in. It's already baked in. There's no news 401 00:23:10,920 --> 00:23:13,080 Speaker 2: to be made. If the BLS gives us another report 402 00:23:13,119 --> 00:23:14,840 Speaker 2: that says labors. 403 00:23:14,480 --> 00:23:18,359 Speaker 1: Down talking to doctor Matt Well, economists at the University 404 00:23:18,359 --> 00:23:20,480 Speaker 1: of Indianapolis. Let let me give you a couple other 405 00:23:20,480 --> 00:23:24,159 Speaker 1: pieces of economic stuff. So I knew I want to 406 00:23:24,200 --> 00:23:25,480 Speaker 1: talk to you about this, but I'm going to throw 407 00:23:25,480 --> 00:23:27,119 Speaker 1: this stuff at you. Let's see how quick you are 408 00:23:27,920 --> 00:23:31,439 Speaker 1: on your fee. Tesla said there was an increase in 409 00:23:31,520 --> 00:23:35,200 Speaker 1: sales in the third quarter. This match is a story 410 00:23:35,520 --> 00:23:41,520 Speaker 1: regarding Tesla in general motors leading record US EV sales 411 00:23:42,160 --> 00:23:46,359 Speaker 1: electric vehicles. Is this all because the incentives are ending? 412 00:23:46,680 --> 00:23:50,439 Speaker 1: Or is is this the news that all the fire 413 00:23:50,480 --> 00:23:53,240 Speaker 1: bombings of Tesla is now over and now you can 414 00:23:53,280 --> 00:23:54,720 Speaker 1: own one without having a keyed. 415 00:23:55,880 --> 00:23:59,440 Speaker 2: No, what happened was we had a political ramification to 416 00:24:00,240 --> 00:24:04,000 Speaker 2: Elon Musk being in the government and that hurt his business. 417 00:24:03,760 --> 00:24:08,080 Speaker 2: That's an anomaly. These are things that shock the market temporarily. 418 00:24:08,480 --> 00:24:12,639 Speaker 2: That's now gone and we're now back into normal business operations. 419 00:24:12,920 --> 00:24:16,439 Speaker 2: And normal business operations. Is that Tesla is dominating the 420 00:24:16,480 --> 00:24:20,240 Speaker 2: EV market. They have lower cost production. I could give 421 00:24:20,240 --> 00:24:23,000 Speaker 2: you specifics, Tony about what they do with their semiconductor 422 00:24:23,080 --> 00:24:25,320 Speaker 2: chips they put in their cars. How they have almost 423 00:24:25,320 --> 00:24:28,440 Speaker 2: a unibody type when it comes to welding. No one 424 00:24:28,480 --> 00:24:31,960 Speaker 2: can compete with them even close in the production quality 425 00:24:32,000 --> 00:24:34,360 Speaker 2: of what they're making. Now they're just we're back into 426 00:24:34,440 --> 00:24:37,840 Speaker 2: the Okay, who's the best and guess who's the best Tesla? 427 00:24:38,000 --> 00:24:41,520 Speaker 2: So Tesla's growing again. The politics are set to the side, 428 00:24:41,560 --> 00:24:44,600 Speaker 2: and now actual performance matters. And I'm going to say 429 00:24:44,760 --> 00:24:47,560 Speaker 2: this very emphatically. The government has to get out of 430 00:24:47,560 --> 00:24:52,119 Speaker 2: the darn picture. Let business success and business failure rule 431 00:24:52,160 --> 00:24:55,679 Speaker 2: the day and not the business manipulating the market. And 432 00:24:55,760 --> 00:24:58,879 Speaker 2: Tesla's back to its normal business operations and I'm happy 433 00:24:58,880 --> 00:24:59,400 Speaker 2: to see that. 434 00:25:00,200 --> 00:25:02,639 Speaker 1: Also, if we take a look at the markets, we 435 00:25:02,720 --> 00:25:07,879 Speaker 1: take a look at April eighth and the Tesla stock price, 436 00:25:07,960 --> 00:25:10,400 Speaker 1: which full disclosure in a fund I do own Tesla, 437 00:25:12,200 --> 00:25:15,919 Speaker 1: it was two twenty one and right now the stock 438 00:25:16,359 --> 00:25:21,000 Speaker 1: is closed yesterday at four twenty nine. Is that what 439 00:25:21,000 --> 00:25:24,040 Speaker 1: I'm saying. The moral of the story is things have 440 00:25:24,119 --> 00:25:28,480 Speaker 1: been on an upward climb for Tesla over the last months. 441 00:25:28,800 --> 00:25:32,040 Speaker 1: This was all a reaction to Doge and leaving and 442 00:25:32,119 --> 00:25:36,000 Speaker 1: the so called fight, the spat between Trump and Musk. 443 00:25:36,080 --> 00:25:36,760 Speaker 1: That was everything. 444 00:25:38,160 --> 00:25:41,400 Speaker 2: Yes, that's exactly what it was. And quite honestly, let's 445 00:25:41,440 --> 00:25:44,879 Speaker 2: be let's be blunt with your listeners. Elon Musk was 446 00:25:44,920 --> 00:25:47,720 Speaker 2: not focusing on Tesla. He was focusing on the government. 447 00:25:48,040 --> 00:25:52,280 Speaker 2: He's now the world's first half a trillionaire. Congratulations, Elon. 448 00:25:52,320 --> 00:25:55,440 Speaker 2: I'm happy that you're successful. And he is focusing back 449 00:25:55,480 --> 00:25:58,800 Speaker 2: on his business again and now it's doing better. Thank 450 00:25:58,840 --> 00:26:02,360 Speaker 2: goodness for him. This for Tesla owners and the Tesla shareholders, 451 00:26:03,280 --> 00:26:05,760 Speaker 2: the doe saying we need it you and I. I 452 00:26:06,240 --> 00:26:08,199 Speaker 2: wish he were running Doze, but I feel good for 453 00:26:08,280 --> 00:26:10,440 Speaker 2: him and his company because that's where his focus is 454 00:26:10,480 --> 00:26:10,960 Speaker 2: at the moment. 455 00:26:11,160 --> 00:26:14,800 Speaker 1: Talking to doctor Matt Will, economists at the University of Indianapolis, 456 00:26:14,880 --> 00:26:17,360 Speaker 1: let me bring you another story. This is the CEO 457 00:26:17,400 --> 00:26:20,600 Speaker 1: of Goldman Sachs. It seems that a lot of these 458 00:26:20,640 --> 00:26:23,800 Speaker 1: guys on Wall Street take the money and are always screaming, 459 00:26:23,800 --> 00:26:26,320 Speaker 1: what the sky is falling. I'm one of the people 460 00:26:26,320 --> 00:26:29,159 Speaker 1: who argues, well, the sky does eventually fall. I'm just 461 00:26:29,200 --> 00:26:33,600 Speaker 1: stunned it hasn't fallen yet. He's at a tech week 462 00:26:33,840 --> 00:26:37,320 Speaker 1: in Turin, Italy, and he believes a drawdown is likely 463 00:26:37,359 --> 00:26:40,040 Speaker 1: to hit the stock markets in the coming two years. 464 00:26:40,200 --> 00:26:43,120 Speaker 1: My problem here is I've been hearing about a draw 465 00:26:43,200 --> 00:26:48,080 Speaker 1: down a reduction, a slow down, a things getting back 466 00:26:48,119 --> 00:26:51,000 Speaker 1: to maybe a more normal number. I've been hearing about 467 00:26:51,040 --> 00:26:54,840 Speaker 1: this for five years and it hasn't happened yet. What 468 00:26:55,040 --> 00:26:58,560 Speaker 1: makes Goldman Sachs CEO David Solomon say this? And does 469 00:26:58,600 --> 00:27:01,440 Speaker 1: anybody in the market as you observe these things from 470 00:27:01,480 --> 00:27:05,520 Speaker 1: a very intimate level, do you think that the market 471 00:27:05,600 --> 00:27:08,760 Speaker 1: is preparing itself in what it's been doing for Okay, 472 00:27:09,119 --> 00:27:11,520 Speaker 1: this party's going to end sometime soon. We're going to 473 00:27:11,680 --> 00:27:13,480 Speaker 1: enter some rough times. 474 00:27:14,880 --> 00:27:16,760 Speaker 2: Okay, you want a lightning round, but I can't give 475 00:27:16,760 --> 00:27:18,120 Speaker 2: you a lightning round answer on this one. 476 00:27:18,440 --> 00:27:20,600 Speaker 1: Take time, and I got tom, I have bourbon. We're good. 477 00:27:22,160 --> 00:27:24,920 Speaker 2: So, first of all, is the market going to turn down? Yes, 478 00:27:25,040 --> 00:27:28,359 Speaker 2: eventually at some point. We all see the economic data 479 00:27:28,440 --> 00:27:31,600 Speaker 2: pointing to negative directions that trades are the trade war 480 00:27:31,680 --> 00:27:34,560 Speaker 2: is finally harming the economy. We see it in prices 481 00:27:34,640 --> 00:27:37,040 Speaker 2: now up to four point eight percent. We see it 482 00:27:37,080 --> 00:27:40,040 Speaker 2: in the employment reports which are negative. So yeah, there's 483 00:27:40,080 --> 00:27:42,920 Speaker 2: bad news. So wow, David Solomon is a genius because 484 00:27:42,920 --> 00:27:46,120 Speaker 2: he predicts the future. I think we all know there 485 00:27:46,160 --> 00:27:49,359 Speaker 2: may be a recession around the corner. Maybe maybe I'm 486 00:27:49,400 --> 00:27:51,520 Speaker 2: gonna talk about the AI stuff in a moment. But 487 00:27:51,880 --> 00:27:54,680 Speaker 2: David Solomon is self serving. I hope he doesn't listen 488 00:27:54,720 --> 00:27:56,840 Speaker 2: to your show because they'll probably send his lawyers after me. 489 00:27:57,440 --> 00:28:02,800 Speaker 2: David SI Solomon is self serving because Goldman Sachs makes 490 00:28:03,160 --> 00:28:07,440 Speaker 2: money on churn, on buying and selling, so if there's 491 00:28:07,440 --> 00:28:09,280 Speaker 2: going to be a drawdown, then people are going to 492 00:28:09,359 --> 00:28:12,560 Speaker 2: rush to sell and change the portfolio mixture. He makes 493 00:28:12,680 --> 00:28:16,680 Speaker 2: money on that. His business is making money by you trading, 494 00:28:17,080 --> 00:28:20,119 Speaker 2: and if you reallocate your assets to a different category, 495 00:28:20,359 --> 00:28:23,800 Speaker 2: he makes money. This is very self serving what he's saying. 496 00:28:24,000 --> 00:28:27,040 Speaker 2: He is not some expert economist. He runs a company 497 00:28:27,200 --> 00:28:30,119 Speaker 2: that's based on trading and that's what he does. And 498 00:28:30,160 --> 00:28:33,439 Speaker 2: he's self serving in his comments. I'm not saying he's wrong. 499 00:28:34,040 --> 00:28:36,760 Speaker 2: I'm saying he's very self serving in his comments. 500 00:28:37,359 --> 00:28:39,560 Speaker 1: Before I let you go talking to doctor Matt Will, 501 00:28:39,600 --> 00:28:44,200 Speaker 1: economist at the University of Indianapolis, let's talk about this shutdown. 502 00:28:45,960 --> 00:28:51,120 Speaker 1: The shutdown has really not thrown anything into the works 503 00:28:51,160 --> 00:28:54,320 Speaker 1: of the market, hasn't really thrown anything into the works 504 00:28:54,360 --> 00:28:56,880 Speaker 1: to mess up the works of everyday Americans, and the 505 00:28:56,960 --> 00:29:00,320 Speaker 1: shutdown it only gets us through to November twenty first, 506 00:29:00,360 --> 00:29:03,520 Speaker 1: where we're going to be having this conversation all over again. 507 00:29:04,480 --> 00:29:07,320 Speaker 1: Is it that Americans have gotten used to shutdowns or 508 00:29:07,320 --> 00:29:10,000 Speaker 1: the threats of shutdowns and we've baked it into the cake. 509 00:29:10,480 --> 00:29:12,720 Speaker 1: Is there something different about what we're seeing and is 510 00:29:12,720 --> 00:29:15,360 Speaker 1: there something different about what might come down the road 511 00:29:15,840 --> 00:29:18,680 Speaker 1: that really does have an effect on the economy. 512 00:29:19,360 --> 00:29:21,720 Speaker 2: Well, I'm going to say this is a different kind 513 00:29:21,720 --> 00:29:24,360 Speaker 2: of shutdown because Trump is now in charge of this 514 00:29:24,480 --> 00:29:28,000 Speaker 2: shutdown and this is actually good for the economy. In 515 00:29:28,080 --> 00:29:31,080 Speaker 2: the previous administrations, when we had a shutdown and the 516 00:29:31,120 --> 00:29:33,920 Speaker 2: president in charge was a Democrat and that we had 517 00:29:33,920 --> 00:29:37,920 Speaker 2: this massive government bureaucracy, then the world couldn't function without 518 00:29:37,920 --> 00:29:40,760 Speaker 2: the government. Trump has been getting the government out of 519 00:29:40,800 --> 00:29:43,440 Speaker 2: your hair. He's been taking them out of your life. 520 00:29:43,640 --> 00:29:47,200 Speaker 2: So guess what, we're independent now, We're functioning independently without 521 00:29:47,280 --> 00:29:50,320 Speaker 2: big brother over our shoulder. So no, I think this 522 00:29:50,400 --> 00:29:53,719 Speaker 2: government shutdown is a different kind of one because we 523 00:29:53,760 --> 00:29:57,080 Speaker 2: don't need the government the moment. We can survive without them. 524 00:29:57,280 --> 00:29:59,200 Speaker 2: And lo and behold, you've said it for the last 525 00:29:59,400 --> 00:30:02,600 Speaker 2: you know, few times you've commented on this. Yeah, we're 526 00:30:02,640 --> 00:30:05,320 Speaker 2: seemed to be doing fine. Now we can't do long term. Okay, 527 00:30:05,640 --> 00:30:07,520 Speaker 2: the military has to get paid, the police need to 528 00:30:07,520 --> 00:30:10,320 Speaker 2: be paid, Ice needs to be paid, for sure, so 529 00:30:10,720 --> 00:30:13,760 Speaker 2: you know, let's you can't go on forever. But I 530 00:30:13,800 --> 00:30:15,960 Speaker 2: think Trump is managing it very well. 531 00:30:16,480 --> 00:30:20,200 Speaker 1: But you don't think that even if there was something prolonged, 532 00:30:20,200 --> 00:30:24,200 Speaker 1: whether it be now, whether it be this conversation in November, 533 00:30:24,680 --> 00:30:29,280 Speaker 1: whether these Obamacare at tax credits get extended or not, 534 00:30:29,640 --> 00:30:32,120 Speaker 1: there's nothing that we should be looking at that would 535 00:30:32,200 --> 00:30:35,120 Speaker 1: make you say, well, if X, then you might see 536 00:30:35,120 --> 00:30:36,800 Speaker 1: something very interesting and why. 537 00:30:38,240 --> 00:30:40,120 Speaker 2: I would need to know what the specific X is. 538 00:30:40,160 --> 00:30:42,960 Speaker 2: But I believe that the government being shut down for 539 00:30:42,960 --> 00:30:45,240 Speaker 2: a little bit isn't a bad idea. And I agree 540 00:30:45,400 --> 00:30:48,440 Speaker 2: with Trump and your analysis, maybe your analysis of Trump. 541 00:30:48,440 --> 00:30:50,520 Speaker 2: I don't know if Trump's using your analysis, but this 542 00:30:50,600 --> 00:30:53,720 Speaker 2: may be an opportunity to cut the fat out of government, 543 00:30:54,080 --> 00:30:56,400 Speaker 2: because can he fire someone and not just lay them 544 00:30:56,400 --> 00:30:58,280 Speaker 2: off and not have to bring them back. I think 545 00:30:58,280 --> 00:31:02,280 Speaker 2: there actually is a Doge benefit, you know, a side benefit, 546 00:31:02,320 --> 00:31:06,600 Speaker 2: an unintended consequence that may benefit the country from this shutdown. 547 00:31:07,080 --> 00:31:10,720 Speaker 1: Doctor Matt Will, economist at the University of Indianapolis. I 548 00:31:10,760 --> 00:31:13,200 Speaker 1: appreciate you taking the time to be with us more 549 00:31:13,240 --> 00:31:15,600 Speaker 1: to get to. I'm Tony Katz. This is Tony Kats Today. 550 00:31:15,880 --> 00:31:22,080 Speaker 1: We have talked often about the anger, the vitriol in 551 00:31:22,160 --> 00:31:24,840 Speaker 1: people that makes them lose their souls. But there's also 552 00:31:25,800 --> 00:31:30,320 Speaker 1: a story of people who can't see past their own face. 553 00:31:30,560 --> 00:31:38,160 Speaker 1: And this is amongst the most angering stories I have 554 00:31:38,280 --> 00:31:41,960 Speaker 1: come across in a while. Tony Katz, Tony Kats Today, 555 00:31:42,040 --> 00:31:43,920 Speaker 1: Good to be with. You find everything at Tony Katz 556 00:31:44,520 --> 00:31:47,760 Speaker 1: dot com. I wish you would subscribe there. You can 557 00:31:48,320 --> 00:31:51,240 Speaker 1: get the daily show sheet for free. It is there 558 00:31:51,480 --> 00:31:54,440 Speaker 1: for you. You can be a subscriber and a supporter. 559 00:31:54,480 --> 00:31:57,560 Speaker 1: I greatly appreciate that as well. Tonycats dot com. Head 560 00:31:57,560 --> 00:32:01,600 Speaker 1: on over there. This is a story about artifacts from 561 00:32:01,720 --> 00:32:06,640 Speaker 1: the Cairo Egyptian Museum. And you say to me, okay, 562 00:32:06,840 --> 00:32:13,480 Speaker 1: I'm listening. It's from Smithsonian Magazine. The Egyptian Museum in 563 00:32:13,560 --> 00:32:19,440 Speaker 1: Cairo had a bracelet and it was being restored. As 564 00:32:19,480 --> 00:32:23,240 Speaker 1: you can imagine, Egypt, amongst other places, has the opportunity 565 00:32:23,280 --> 00:32:30,120 Speaker 1: to come across many unique artifacts. This belonged to a pharaoh. 566 00:32:32,160 --> 00:32:33,800 Speaker 1: I don't know if I'm pronouncing it right. I'm met, 567 00:32:33,800 --> 00:32:38,680 Speaker 1: I'm ope ruled during Egypt's third Intermediate period. And if 568 00:32:38,720 --> 00:32:41,040 Speaker 1: you ask me what the third intermediate period is, I'm 569 00:32:41,040 --> 00:32:43,280 Speaker 1: going to say to you, I'm only so good, guys, 570 00:32:43,920 --> 00:32:46,000 Speaker 1: I'm only so good. I had to look it up. 571 00:32:46,160 --> 00:32:49,880 Speaker 1: It's from ten seventy BC to six sixty four BC. 572 00:32:50,520 --> 00:32:56,560 Speaker 1: So this is a three thousand year old artifact. It 573 00:32:56,680 --> 00:33:03,240 Speaker 1: was a bracelet made of gold. The bracelet was stolen. 574 00:33:04,920 --> 00:33:09,080 Speaker 1: Somebody stole the bracelet from the artifacts room from the 575 00:33:09,280 --> 00:33:14,280 Speaker 1: Cairo Egyptian Museum. You can imagine that this is the 576 00:33:14,400 --> 00:33:17,040 Speaker 1: kind of thing that will spur a lot of investigation 577 00:33:17,520 --> 00:33:20,280 Speaker 1: because while ISIS is a big believer in the destroying 578 00:33:20,320 --> 00:33:24,440 Speaker 1: of antiquities and destroying of art, and destroying of civilizations 579 00:33:24,440 --> 00:33:27,400 Speaker 1: that came before, because they don't want civilization, they just 580 00:33:27,440 --> 00:33:32,560 Speaker 1: want the worldwide caliphate like Hamas. Not everybody is like this, 581 00:33:32,720 --> 00:33:36,360 Speaker 1: of course, and these things do matter, and these things 582 00:33:36,400 --> 00:33:40,280 Speaker 1: bring a tourism value in these things bring a cultural value. 583 00:33:40,320 --> 00:33:44,840 Speaker 1: These things matter. Well, they start investigating where in the 584 00:33:44,880 --> 00:33:48,719 Speaker 1: bloody world who took this? What happens? They were itemizing 585 00:33:48,800 --> 00:33:52,960 Speaker 1: artifacts for a shipment and they realized that it was missing. 586 00:33:53,400 --> 00:33:56,960 Speaker 1: They immediately start circulating photos of the bracelet to law enforcement, 587 00:33:57,040 --> 00:33:59,520 Speaker 1: archaeological authorities, like who could have sold this, and who 588 00:33:59,520 --> 00:34:02,040 Speaker 1: would have who bought this, or who could have traded 589 00:34:02,080 --> 00:34:09,000 Speaker 1: to et cetera. They start searching and they find out 590 00:34:09,160 --> 00:34:12,359 Speaker 1: that of all the things that could have happened, how 591 00:34:12,360 --> 00:34:14,960 Speaker 1: it could have been smuggled out of the country, somebody 592 00:34:15,000 --> 00:34:19,359 Speaker 1: could have done a forged prominance on this. No, they 593 00:34:19,520 --> 00:34:23,879 Speaker 1: find out that it passed from a museum restoration specialist 594 00:34:24,800 --> 00:34:29,719 Speaker 1: to a silver trader to the owner of a jewelry workshop. 595 00:34:31,560 --> 00:34:34,320 Speaker 1: Now some of you already know where this story is going, 596 00:34:35,400 --> 00:34:39,120 Speaker 1: and no matter what you think politically, you're like, oh, no, 597 00:34:39,800 --> 00:34:45,960 Speaker 1: they didn't. From the workshop owner, it was sold to 598 00:34:46,120 --> 00:34:53,440 Speaker 1: a gold smelter. The bracelet was sold for four thousand 599 00:34:54,160 --> 00:35:00,120 Speaker 1: dollars and the gold was melted down for scrap for 600 00:35:00,239 --> 00:35:07,680 Speaker 1: use in other things. I'm sorry that story when I 601 00:35:07,760 --> 00:35:11,680 Speaker 1: read it made me scream. Four suspects have been arrested. 602 00:35:12,880 --> 00:35:15,080 Speaker 1: What happens when you're the gold smelter and you're like, 603 00:35:15,120 --> 00:35:19,040 Speaker 1: I did? What? How do you live with yourself? Three 604 00:35:19,160 --> 00:35:24,600 Speaker 1: thousand years of history a story to be told. To 605 00:35:24,600 --> 00:35:26,600 Speaker 1: look at what they were able to design and create, 606 00:35:26,920 --> 00:35:29,600 Speaker 1: and they saw a value and goal and the intrinsic 607 00:35:29,640 --> 00:35:35,480 Speaker 1: worth and all thing. My gosh, oh. Story ripped my 608 00:35:35,640 --> 00:35:40,040 Speaker 1: heart out. It's like, when you see these activists destroying artwork, 609 00:35:40,320 --> 00:35:42,200 Speaker 1: you know, I believe in the death penalty for all 610 00:35:42,239 --> 00:35:45,280 Speaker 1: of them. For them, I believe in the death penalty. 611 00:35:45,480 --> 00:35:48,479 Speaker 1: This story is horrifying because there are people along the line, 612 00:35:48,560 --> 00:35:51,279 Speaker 1: but I'm willing to back. Didn't know, they didn't know. 613 00:35:51,800 --> 00:35:53,840 Speaker 1: It was just given to them, sold to them, and 614 00:35:53,880 --> 00:35:57,640 Speaker 1: they did what they do. For people who destroy art, 615 00:35:57,880 --> 00:36:00,800 Speaker 1: there's a special place in health for them. Find everything 616 00:36:00,840 --> 00:36:03,280 Speaker 1: at tonycats dot com. I'll catch you on Monday. Everyone, 617 00:36:03,480 --> 00:36:03,919 Speaker 1: take care.