1 00:00:00,480 --> 00:00:04,360 Speaker 1: You're listening to KFI AM six forty on demand. 2 00:00:07,880 --> 00:00:12,080 Speaker 2: Chris Merril CAFI AM six forty more stimulating talking on 3 00:00:12,119 --> 00:00:14,880 Speaker 2: demand anytime on the I Heart Radio. 4 00:00:15,160 --> 00:00:20,360 Speaker 3: App appreciate everybody that's taking a moment. Let me see 5 00:00:21,960 --> 00:00:24,040 Speaker 3: from the talkbacks. 6 00:00:25,800 --> 00:00:28,760 Speaker 4: We see it's so wonderful Christie your voice. 7 00:00:28,880 --> 00:00:30,360 Speaker 3: Oh, I appreciate that. Thank you. 8 00:00:30,440 --> 00:00:34,680 Speaker 4: Anyway, the way they give them back is they every 9 00:00:34,720 --> 00:00:36,879 Speaker 4: month you have to get they take a few of 10 00:00:36,880 --> 00:00:41,080 Speaker 4: your food stamps away, my twenty bucks or something until 11 00:00:41,120 --> 00:00:42,000 Speaker 4: you pay it back. 12 00:00:42,960 --> 00:00:45,600 Speaker 3: Yeah. I hear you. Yeah, I appreciate that. 13 00:00:46,120 --> 00:00:52,199 Speaker 2: But no, no, it doesn't work. It doesn't work if 14 00:00:52,240 --> 00:00:55,640 Speaker 2: you reallocate the money money that was supposed to go 15 00:00:55,680 --> 00:00:58,680 Speaker 2: the cards. Anyway, there's no reason to get that money 16 00:00:58,720 --> 00:01:00,440 Speaker 2: back because that's the money that you would be allocating. 17 00:01:01,640 --> 00:01:03,480 Speaker 2: The only reason you try to take the money back 18 00:01:04,600 --> 00:01:08,440 Speaker 2: from the cards is if the government is not reopened 19 00:01:08,480 --> 00:01:11,760 Speaker 2: and no longer funding the cards. So I mean, I 20 00:01:11,760 --> 00:01:14,800 Speaker 2: hear what you're saying. Basically, you're you're garnishing, but you'd 21 00:01:14,840 --> 00:01:19,120 Speaker 2: have to have something to garnish. And if if SNAP 22 00:01:19,200 --> 00:01:21,840 Speaker 2: is not paying out, there's nothing to garnish from the 23 00:01:21,880 --> 00:01:24,119 Speaker 2: people who receive that payment. 24 00:01:24,160 --> 00:01:26,840 Speaker 3: When the court first said you have to pay it. 25 00:01:27,000 --> 00:01:28,760 Speaker 2: I think it might be worth pointing out that the 26 00:01:28,840 --> 00:01:32,240 Speaker 2: vast majority of the people who receive SNAP are children, 27 00:01:32,560 --> 00:01:36,080 Speaker 2: the elderly, and people with disabilities. Oh okay, so like 28 00:01:36,120 --> 00:01:41,720 Speaker 2: fifty bucks a month, get them good, teach them a lesson. 29 00:01:41,880 --> 00:01:43,319 Speaker 3: You know what you're telling me? Yeah, people who can 30 00:01:43,400 --> 00:01:44,240 Speaker 3: just go out and get a job. 31 00:01:45,760 --> 00:01:48,440 Speaker 2: I was thinking, you know what, the you know what 32 00:01:48,480 --> 00:01:52,760 Speaker 2: the shutdown needs. The shutdown needs more Gordon Lightfoot and 33 00:01:52,800 --> 00:01:55,640 Speaker 2: I've been thinking hard about this, and I've resisted the 34 00:01:55,680 --> 00:01:58,279 Speaker 2: temptation until now. But since we're near the end of 35 00:01:58,360 --> 00:02:00,560 Speaker 2: the shutdown, I feel as though this might be my 36 00:02:00,640 --> 00:02:02,080 Speaker 2: last opportunity. 37 00:02:03,000 --> 00:02:08,480 Speaker 3: So shut down and I think it's a same like 38 00:02:08,560 --> 00:02:10,400 Speaker 3: I'm winning, then I'm losing. 39 00:02:10,840 --> 00:02:11,080 Speaker 5: Year. 40 00:02:11,600 --> 00:02:13,679 Speaker 3: I gotta take you to karaoke one of these days? 41 00:02:14,000 --> 00:02:16,679 Speaker 3: Can I write my own songs for karaoke? I've seen 42 00:02:16,720 --> 00:02:19,920 Speaker 3: people do that. Do whatever you want to karaoke. 43 00:02:20,200 --> 00:02:21,960 Speaker 6: No one likes that, though they want to hear the 44 00:02:22,000 --> 00:02:23,200 Speaker 6: bangers in the classics. 45 00:02:23,480 --> 00:02:25,480 Speaker 3: That is a banger. You just don't know it yet. 46 00:02:25,600 --> 00:02:29,160 Speaker 6: I'm sure in Canada perhaps unbelievable. 47 00:02:29,560 --> 00:02:33,840 Speaker 3: Wow, look at you, xenophobic. 48 00:02:34,240 --> 00:02:41,919 Speaker 6: I'm not xenophobic. I just don't like Canada. I love America. 49 00:02:42,200 --> 00:02:45,760 Speaker 2: I'm not xenophobic. I just don't like Canada. Okay, I 50 00:02:45,840 --> 00:02:46,840 Speaker 2: get that all right for you. 51 00:02:46,880 --> 00:02:59,200 Speaker 3: Then I spoke a lie a real country. Anyway, there 52 00:02:59,240 --> 00:03:00,760 Speaker 3: you go. That was thank you. 53 00:03:01,040 --> 00:03:06,359 Speaker 2: So the House is headed back to do something from NBCLA, 54 00:03:06,480 --> 00:03:11,760 Speaker 2: I made my emergency flight for tonight and I'm just 55 00:03:11,919 --> 00:03:14,679 Speaker 2: really hoping that there won't be any delay or cancelation. 56 00:03:15,080 --> 00:03:18,919 Speaker 7: Representative duty to among Congress members from southern California dealing 57 00:03:18,960 --> 00:03:21,600 Speaker 7: with one of the residual effects of the longest government 58 00:03:21,639 --> 00:03:25,080 Speaker 7: shut down in American history, forty two days in counting. 59 00:03:25,440 --> 00:03:28,560 Speaker 7: Senators narrowly passed a bill on Monday that would fund 60 00:03:28,560 --> 00:03:31,440 Speaker 7: the government through the end of January. We start paying 61 00:03:31,680 --> 00:03:35,520 Speaker 7: air traffic controllers and other federal employees and secure food 62 00:03:35,560 --> 00:03:36,680 Speaker 7: assistance benefits. 63 00:03:37,400 --> 00:03:40,320 Speaker 3: Yeah, through the end of January. We get to do 64 00:03:40,360 --> 00:03:45,600 Speaker 3: this all over again, just in time for the Super Bowl. Yay. 65 00:03:45,800 --> 00:03:48,040 Speaker 7: The congress members we talked to understand that there is 66 00:03:48,120 --> 00:03:52,000 Speaker 7: a cost of continuing a shutdown, including in their districts, 67 00:03:52,160 --> 00:03:55,040 Speaker 7: but say there could be a greater long term cost. 68 00:03:55,200 --> 00:03:56,520 Speaker 5: I will be voting now. 69 00:03:57,880 --> 00:04:01,920 Speaker 8: Because yeah, we were supposed to be holding the line 70 00:04:02,640 --> 00:04:07,080 Speaker 8: to address the Obamacare subsidies. 71 00:04:06,600 --> 00:04:07,120 Speaker 1: Not part of this. 72 00:04:07,440 --> 00:04:10,440 Speaker 3: Yeah, and you didn't. There is an irony, isn't there. 73 00:04:10,920 --> 00:04:15,640 Speaker 2: That the House representatives are concerned that they won't be 74 00:04:15,640 --> 00:04:20,040 Speaker 2: able to get back because flights are canceled. I believe 75 00:04:20,080 --> 00:04:24,440 Speaker 2: that's called irony. The flights are canceled because the government 76 00:04:24,520 --> 00:04:27,440 Speaker 2: shut down. Can't reopen the government because we need a 77 00:04:27,480 --> 00:04:29,400 Speaker 2: flight to get back to d C in order to 78 00:04:29,480 --> 00:04:33,039 Speaker 2: vote to reopen the government to pay yep. 79 00:04:33,520 --> 00:04:37,080 Speaker 3: Is that a catch twenty two? Yeah? Yeah, it is. 80 00:04:38,279 --> 00:04:44,479 Speaker 2: No. No, I have no idea it. Listen, once the 81 00:04:44,520 --> 00:04:48,160 Speaker 2: sun goes down, that's it for me. I'm just out. 82 00:04:48,520 --> 00:04:54,400 Speaker 2: I'm worthless. So don't ask me to think I got sundowners. 83 00:05:00,560 --> 00:05:06,960 Speaker 3: My backstairs. Yeah okay, yeah, Nick, you don't get me off. 84 00:05:06,800 --> 00:05:10,600 Speaker 7: On a tangentle Senate deal extending Affordable Care Act tax. 85 00:05:10,560 --> 00:05:13,480 Speaker 3: I'm very susceptible to suggestion. After the sun goes. 86 00:05:13,320 --> 00:05:15,800 Speaker 7: Down, credits which is at the heart of the shutdown 87 00:05:15,800 --> 00:05:18,280 Speaker 7: for Democrats, and expire at the end of the year. 88 00:05:18,600 --> 00:05:21,080 Speaker 2: So she's voting no now, and as many of the 89 00:05:21,080 --> 00:05:23,880 Speaker 2: Democrats in the House are going to do, because the 90 00:05:24,560 --> 00:05:27,800 Speaker 2: Democratic base wants to continue the shutdown, even though it 91 00:05:27,880 --> 00:05:32,080 Speaker 2: is hurting, as Mark pointed out, women, children, veterans disabled, 92 00:05:32,160 --> 00:05:35,280 Speaker 2: this sort of thing with the snap benefits, even though 93 00:05:35,320 --> 00:05:38,880 Speaker 2: it is a disaster for the US economy, they still 94 00:05:38,880 --> 00:05:40,160 Speaker 2: say we got to shut this down. 95 00:05:40,480 --> 00:05:43,400 Speaker 3: And it's not like the Republicans were saying, okay. 96 00:05:43,080 --> 00:05:46,160 Speaker 2: Well we will, We'll offer some subsidies then in order 97 00:05:46,160 --> 00:05:48,479 Speaker 2: to get the government over. So nobody was compromised. Compromise 98 00:05:48,560 --> 00:05:52,440 Speaker 2: the dirty word. Now, this is a vile word in Washington. 99 00:05:52,720 --> 00:05:54,440 Speaker 2: Depending on what your situation is. 100 00:05:54,480 --> 00:05:57,560 Speaker 7: It could be as high as three times what they 101 00:05:57,600 --> 00:05:59,120 Speaker 7: have to pay right now. 102 00:05:59,440 --> 00:06:03,640 Speaker 2: That's the health insurance, the Affordable Care Act insurance. Meanwhile, 103 00:06:03,680 --> 00:06:06,039 Speaker 2: both sides are pointing and saying, well, everything's their fault. 104 00:06:06,040 --> 00:06:08,159 Speaker 3: The shutdown could end as soon as tomorrow. 105 00:06:08,160 --> 00:06:11,279 Speaker 2: And while Republicans for ABC, then the President are happy 106 00:06:11,320 --> 00:06:11,760 Speaker 2: about it. 107 00:06:11,920 --> 00:06:15,039 Speaker 3: A very big victory. We're opening up our country. Yeah, 108 00:06:15,200 --> 00:06:19,000 Speaker 3: so he's taking a victory. Lab should have never been closed. 109 00:06:19,520 --> 00:06:22,920 Speaker 2: There has arisen a split within the Democratic Party. This 110 00:06:22,960 --> 00:06:26,280 Speaker 2: is bad for the Democrats and MAGA. As much as 111 00:06:26,320 --> 00:06:28,920 Speaker 2: you love watching it happen, it's bad for you. 112 00:06:29,200 --> 00:06:33,919 Speaker 9: House Democrats will strongly oppose any legislation that does not 113 00:06:34,279 --> 00:06:37,440 Speaker 9: decisively address the Republican health care crisis. 114 00:06:37,560 --> 00:06:40,400 Speaker 2: Coming off a decisive victory on election day last week, 115 00:06:40,400 --> 00:06:42,760 Speaker 2: it appeared Democrats had some bargaining power. 116 00:06:42,800 --> 00:06:45,239 Speaker 3: They had been holding out to lower health care costs. 117 00:06:45,880 --> 00:06:50,320 Speaker 2: So the decisive victory Centrist in Virginia, Centrist in New Jersey, 118 00:06:50,760 --> 00:06:54,760 Speaker 2: Democratic Socialist in New York, and then California splitting districts 119 00:06:55,480 --> 00:07:03,600 Speaker 2: in order to increase Democratic wait in the House. I've 120 00:07:03,640 --> 00:07:07,080 Speaker 2: seen this play out before. You remember back in twenty 121 00:07:07,120 --> 00:07:09,359 Speaker 2: ten when the Tea Party came along and then we 122 00:07:09,440 --> 00:07:10,760 Speaker 2: had shutdowns, and then it was. 123 00:07:10,920 --> 00:07:13,360 Speaker 3: How dare you you never compromise with Obama? 124 00:07:13,440 --> 00:07:15,960 Speaker 2: Never compromised, Never compromise in the Republicans at the time 125 00:07:16,000 --> 00:07:19,360 Speaker 2: did exactly what we're seeing the Democrats and the Senate doing. 126 00:07:19,640 --> 00:07:23,480 Speaker 2: They had enough people crossover to reopen the government. And 127 00:07:23,600 --> 00:07:27,800 Speaker 2: what came of that. Mitt Romney was the candidate. Oh, 128 00:07:27,840 --> 00:07:31,960 Speaker 2: Mitt Romney, and then he lost. Oh he's an establishment candidate. 129 00:07:32,040 --> 00:07:35,720 Speaker 2: He's Canada's establishment is dead. He's the weak weakness in 130 00:07:35,760 --> 00:07:38,240 Speaker 2: the party, weakness in the Republicans. We need a fighter, 131 00:07:38,280 --> 00:07:40,200 Speaker 2: we need a winner. We need someone that will never 132 00:07:40,280 --> 00:07:44,960 Speaker 2: say die. We need someone that will never compromise. Boom, 133 00:07:45,360 --> 00:07:47,600 Speaker 2: you get the showman that is the reality star, that 134 00:07:47,680 --> 00:07:50,000 Speaker 2: is the billionaire that is Donald Trump. 135 00:07:51,520 --> 00:07:52,760 Speaker 3: I've seen this play out. 136 00:07:53,040 --> 00:07:54,640 Speaker 2: And I was talking to a friend of mine I 137 00:07:54,640 --> 00:07:58,440 Speaker 2: worked with, who's very mad. He's got, you know, pictures 138 00:07:58,440 --> 00:07:59,960 Speaker 2: of him and Trump on his desk kind of thing. 139 00:08:01,200 --> 00:08:03,120 Speaker 2: And Trump called him out on a rally said he's 140 00:08:03,120 --> 00:08:05,640 Speaker 2: a really great guy right there front round, really great guy. 141 00:08:06,640 --> 00:08:08,040 Speaker 3: And uh so he comes in. 142 00:08:08,080 --> 00:08:10,440 Speaker 2: He says that the Democrats cave. Democrats cave. Then I said, 143 00:08:10,680 --> 00:08:12,320 Speaker 2: I said, yeah, they sure did. And I said this 144 00:08:12,360 --> 00:08:14,520 Speaker 2: is very bad for you, and he said, how do 145 00:08:14,520 --> 00:08:17,960 Speaker 2: you mean. I said, Look, here's what's gonna happen. You 146 00:08:18,000 --> 00:08:20,680 Speaker 2: are seeing the splintering right now the Democratic Party, the 147 00:08:20,720 --> 00:08:24,160 Speaker 2: same splintery we saw the Republican Party in the twenty teens. 148 00:08:24,840 --> 00:08:26,920 Speaker 2: And you're gonna have your old guard, and in this 149 00:08:27,000 --> 00:08:34,360 Speaker 2: case old both literally and figuratively. You're gonna have your 150 00:08:34,360 --> 00:08:36,920 Speaker 2: old guard, and then you're gonna have your new wave 151 00:08:37,000 --> 00:08:40,520 Speaker 2: progressive democratic socialists in the same way that you've got 152 00:08:40,559 --> 00:08:44,840 Speaker 2: your establishment GOP and your populist MAGA. So you're gonna 153 00:08:44,840 --> 00:08:48,800 Speaker 2: have an establishment versus a populist battle in primaries and 154 00:08:48,880 --> 00:08:52,160 Speaker 2: start watching what happens with the Democrats, They're gonna start 155 00:08:52,160 --> 00:08:55,560 Speaker 2: moving further to the left. And I know, if you're 156 00:08:55,640 --> 00:08:57,760 Speaker 2: Maleueo the kid, get any further to the left, they're 157 00:08:57,760 --> 00:09:00,880 Speaker 2: all communists, They're all this, They're all that. Look, I 158 00:09:00,920 --> 00:09:05,880 Speaker 2: heard the same thing from Democrats that said the Republicans 159 00:09:05,920 --> 00:09:06,640 Speaker 2: that George W. 160 00:09:06,760 --> 00:09:09,760 Speaker 3: Bush is a fascist, George Bush is a Nazi, Mitt 161 00:09:09,840 --> 00:09:10,640 Speaker 3: Romney is a. 162 00:09:10,920 --> 00:09:16,760 Speaker 2: He is a heartless monster. And then it got more populist, 163 00:09:16,760 --> 00:09:19,640 Speaker 2: further to the right. That became the brand of the GOP. 164 00:09:20,480 --> 00:09:22,800 Speaker 2: The brand of the Democratic Party is about to move 165 00:09:22,880 --> 00:09:25,200 Speaker 2: further to the left. And as I told my friend, 166 00:09:25,440 --> 00:09:27,480 Speaker 2: I said, I said, hey, man, this is bad for 167 00:09:27,600 --> 00:09:30,240 Speaker 2: MAGA because what you're gonna see is when you've got 168 00:09:30,240 --> 00:09:32,960 Speaker 2: a blue wave, there will be one. We saw red wave, 169 00:09:32,960 --> 00:09:35,880 Speaker 2: We've seen blue waves since the Populace movement under Trump. 170 00:09:36,440 --> 00:09:38,560 Speaker 2: When you see a blue wave, it's gonna make AOC 171 00:09:39,000 --> 00:09:43,200 Speaker 2: look like the moderate. And so the more this stuff 172 00:09:43,280 --> 00:09:45,560 Speaker 2: goes on and the more that you see the old 173 00:09:45,600 --> 00:09:50,280 Speaker 2: guard compromising, the more it is going to activate progressives 174 00:09:50,280 --> 00:09:50,880 Speaker 2: in the party. 175 00:09:51,440 --> 00:09:55,040 Speaker 3: They wanted to shut down. They didn't get it. They 176 00:09:55,080 --> 00:09:57,320 Speaker 3: wanted to say, we're gonna have these subsidies. 177 00:09:57,400 --> 00:09:59,920 Speaker 2: They didn't get it. They wanted to follow the populis man. 178 00:10:00,280 --> 00:10:03,200 Speaker 2: They didn't get it. And they are the ones with 179 00:10:03,280 --> 00:10:05,600 Speaker 2: the active bass. They're the ones with the vocal base. 180 00:10:05,640 --> 00:10:10,280 Speaker 2: They're the ones with the young bass. This is not 181 00:10:10,320 --> 00:10:12,600 Speaker 2: only are we witnessing the Democratic Party splitting right now, 182 00:10:12,640 --> 00:10:15,120 Speaker 2: and you're about to see that that party choose the 183 00:10:15,160 --> 00:10:17,280 Speaker 2: direction the same way that we saw the Republicans do 184 00:10:17,320 --> 00:10:20,439 Speaker 2: it in the twenty teens. The Republicans are not gonna 185 00:10:20,480 --> 00:10:23,199 Speaker 2: like the outcome of this. And you're gonna look back 186 00:10:23,200 --> 00:10:26,200 Speaker 2: and you're going I remember back, and I remember back 187 00:10:26,200 --> 00:10:28,800 Speaker 2: when it was Chuck Schumer and Nancy Pelosi and they 188 00:10:28,840 --> 00:10:32,640 Speaker 2: were reasonable Democrats. And now the best we can hope 189 00:10:32,640 --> 00:10:35,640 Speaker 2: for is that AOC can talk some sense into her 190 00:10:36,120 --> 00:10:37,960 Speaker 2: her Democratic Socialist friends. 191 00:10:38,400 --> 00:10:42,360 Speaker 3: Mark my words, give it ten years, mark my words. 192 00:10:43,400 --> 00:10:43,839 Speaker 3: Mark them. 193 00:10:45,000 --> 00:10:47,080 Speaker 2: I don't know, I don't know how you mark words, 194 00:10:47,080 --> 00:10:52,599 Speaker 2: but it's what they say. Mark them, just mark them down. Meanwhile, 195 00:10:52,640 --> 00:10:56,080 Speaker 2: as the shutdown does drag out a little longer, although 196 00:10:56,120 --> 00:10:57,800 Speaker 2: it looks like we're gonna get this thing over with, 197 00:10:58,280 --> 00:11:00,199 Speaker 2: we gotta get those planes back in the sky. We've 198 00:11:00,200 --> 00:11:02,880 Speaker 2: got shut down jet lag and it's gonna be a while. 199 00:11:03,200 --> 00:11:04,640 Speaker 3: That is next. I'm Chris Meryl. 200 00:11:05,480 --> 00:11:08,920 Speaker 1: You're listening to KFI AM six forty on demand. 201 00:11:11,080 --> 00:11:11,840 Speaker 3: Great news. 202 00:11:12,000 --> 00:11:14,080 Speaker 2: You may be able to get into a home in 203 00:11:14,120 --> 00:11:17,400 Speaker 2: southern California. You're gonna find out how and why. It's 204 00:11:17,440 --> 00:11:20,360 Speaker 2: a terrible idea coming up here after Marks News at 205 00:11:20,440 --> 00:11:24,760 Speaker 2: eight thirty. Ah, what have we here? The oh, the 206 00:11:24,760 --> 00:11:29,320 Speaker 2: government's supposed to reopen and still we got a bunch 207 00:11:29,360 --> 00:11:32,200 Speaker 2: of travel delays going on. You would think that the 208 00:11:32,200 --> 00:11:34,440 Speaker 2: air traffic controllers would say, oh, well, you know they're 209 00:11:34,440 --> 00:11:36,440 Speaker 2: gonna pay me, I'll just head back to work. Nope, 210 00:11:36,480 --> 00:11:40,959 Speaker 2: they don't, probably because they still have to pay their 211 00:11:40,960 --> 00:11:44,319 Speaker 2: own bills and promises. 212 00:11:44,360 --> 00:11:45,480 Speaker 3: Don't put food on the table. 213 00:11:45,600 --> 00:11:50,560 Speaker 5: The FAA actually bumped up it's target for reducing flights 214 00:11:50,600 --> 00:11:52,200 Speaker 5: at airports like Lax. 215 00:11:52,240 --> 00:11:55,120 Speaker 7: They went from four to six percent. 216 00:11:55,679 --> 00:11:58,200 Speaker 5: So people here they can't wait for that vote tomorrow 217 00:11:58,240 --> 00:12:02,280 Speaker 5: at that from Fox leven. But you know, even when 218 00:12:02,280 --> 00:12:04,960 Speaker 5: they vote, it's not going to go back to normal immediately. 219 00:12:05,080 --> 00:12:06,040 Speaker 7: Let's go to the video. 220 00:12:06,240 --> 00:12:08,320 Speaker 3: I said, let's let's go to the video. 221 00:12:08,400 --> 00:12:11,400 Speaker 5: I explained to you though, what's going on here, because honestly, 222 00:12:11,760 --> 00:12:15,679 Speaker 5: with all that said, things at lax during Veterans Day holiday, 223 00:12:16,080 --> 00:12:18,559 Speaker 5: they don't seem to be as chaotic as they have been, 224 00:12:19,000 --> 00:12:22,000 Speaker 5: although passengers are still being affected. According to flight where, 225 00:12:22,040 --> 00:12:26,240 Speaker 5: there were over eighty delays and just over fifty cancelations 226 00:12:26,280 --> 00:12:28,959 Speaker 5: at this airport. But keep in mind that's not horrible 227 00:12:28,960 --> 00:12:31,400 Speaker 5: when you think of how many flights come in and 228 00:12:31,520 --> 00:12:34,560 Speaker 5: out of this airport on a daily basis. So here's 229 00:12:34,600 --> 00:12:35,560 Speaker 5: what people were telling us. 230 00:12:35,640 --> 00:12:38,080 Speaker 3: Let's sen Okay, what is it? I think government thing? 231 00:12:38,240 --> 00:12:41,679 Speaker 8: And it does affect world warde Unfortunately we're just waiting't 232 00:12:41,679 --> 00:12:41,960 Speaker 8: you say? 233 00:12:41,960 --> 00:12:44,760 Speaker 3: Now foul flight's affected from a here? Oh? I like 234 00:12:44,800 --> 00:12:47,400 Speaker 3: her accent. That's sexy. That's a terrible eccent. I like 235 00:12:47,440 --> 00:12:49,000 Speaker 3: that accent. Why don't you like mine? Then? 236 00:12:49,640 --> 00:12:52,640 Speaker 5: Ew, they haven't been affected by it, and they got 237 00:12:52,679 --> 00:12:53,600 Speaker 5: through really quickly. 238 00:12:53,720 --> 00:12:57,319 Speaker 3: And but now we set at all like that one too. 239 00:12:57,800 --> 00:12:59,119 Speaker 1: I saw a lot on social. 240 00:12:58,920 --> 00:13:03,880 Speaker 2: Media and it seems to say there were significant wait times. 241 00:13:03,880 --> 00:13:06,000 Speaker 3: So we had a great experience. Everyone was helpful and 242 00:13:06,120 --> 00:13:07,480 Speaker 3: wonderful and that was nice. 243 00:13:07,720 --> 00:13:09,280 Speaker 1: Like we got in and out. 244 00:13:09,280 --> 00:13:10,560 Speaker 3: You're just easy, quick and easy. 245 00:13:10,960 --> 00:13:13,440 Speaker 2: Car travel was smooth coming from the East coast out here, 246 00:13:13,640 --> 00:13:16,440 Speaker 2: no problems at all hopefully they get things all taken 247 00:13:16,440 --> 00:13:17,920 Speaker 2: care of and get Prity back to work and get 248 00:13:17,960 --> 00:13:18,679 Speaker 2: the planes moving. 249 00:13:18,720 --> 00:13:22,280 Speaker 3: But that we had no problems today, that's great news. 250 00:13:22,520 --> 00:13:23,120 Speaker 3: It's great news. 251 00:13:23,160 --> 00:13:24,360 Speaker 2: So they found a lot of people that didn't have 252 00:13:24,360 --> 00:13:27,240 Speaker 2: any issues. I had a family member had to make 253 00:13:27,240 --> 00:13:31,280 Speaker 2: an emergency flight yesterday. Actually we were concerned about that. 254 00:13:31,440 --> 00:13:33,719 Speaker 2: I had an ant that was in a bad car 255 00:13:33,760 --> 00:13:37,400 Speaker 2: accident yesterday morning, and so a family that had to 256 00:13:38,040 --> 00:13:41,160 Speaker 2: real quick take off and head back to join her 257 00:13:41,160 --> 00:13:45,640 Speaker 2: in the hospital. And the thought was, oh my gosh, 258 00:13:45,760 --> 00:13:48,640 Speaker 2: it's a last minute ticket. And they were flying to 259 00:13:48,960 --> 00:13:52,440 Speaker 2: Grand Rapids, Michigan, which is not a very big airport, 260 00:13:53,760 --> 00:13:57,000 Speaker 2: super convenient in and out quickly, like kind of like 261 00:13:57,080 --> 00:14:01,959 Speaker 2: a burbank. But although they actually have a jetway in 262 00:14:01,960 --> 00:14:03,800 Speaker 2: Grand Rapids, you don't have to walk out on the turmac. 263 00:14:04,440 --> 00:14:08,200 Speaker 2: So we were concerned, oh my goodness, is it going 264 00:14:08,240 --> 00:14:10,040 Speaker 2: to get there? How delayed is it going to be, 265 00:14:10,240 --> 00:14:12,560 Speaker 2: what's the situation. Of course, we're all very nervous about 266 00:14:12,559 --> 00:14:16,319 Speaker 2: this family member that was in the car accident. So fortunately, 267 00:14:16,760 --> 00:14:18,400 Speaker 2: like so many of these travelers that you heard on 268 00:14:18,440 --> 00:14:23,080 Speaker 2: the Fox eleven reported lax, it went fine for now. 269 00:14:25,040 --> 00:14:27,960 Speaker 2: Here's one of the concerns that I have. You're gonna 270 00:14:27,960 --> 00:14:29,600 Speaker 2: have air traffic controllers that are not going to come 271 00:14:29,640 --> 00:14:32,240 Speaker 2: back right away because it takes time to restaff the 272 00:14:32,280 --> 00:14:37,120 Speaker 2: towers and then resume normal scheduling. You've got planes that 273 00:14:37,200 --> 00:14:41,400 Speaker 2: have crews in the wrong cities. So remember when Southwest 274 00:14:41,600 --> 00:14:43,680 Speaker 2: Southwest a couple of years ago, right that had the 275 00:14:43,920 --> 00:14:47,240 Speaker 2: computer meltdown where the scheduling wasn't working, and suddenly they 276 00:14:47,240 --> 00:14:49,480 Speaker 2: had crews that weren't in the right places, planes weren't 277 00:14:49,520 --> 00:14:51,320 Speaker 2: in the right airports in order to take off the 278 00:14:51,320 --> 00:14:54,840 Speaker 2: next day, and it created absolute mayhem and it was 279 00:14:54,880 --> 00:14:55,680 Speaker 2: a real disaster. 280 00:14:55,720 --> 00:14:58,200 Speaker 3: It was a real mess for Southwest. Bad deal. 281 00:14:59,200 --> 00:15:01,760 Speaker 2: That's basically what everybody's gonna be looking at now. So 282 00:15:01,800 --> 00:15:04,760 Speaker 2: if you're canceling six percent of your flights, and let's 283 00:15:04,760 --> 00:15:08,080 Speaker 2: say that you've got a flight that's going from Minneapolis 284 00:15:08,120 --> 00:15:12,760 Speaker 2: to Ontario and then carrying on to El Paso, and 285 00:15:12,800 --> 00:15:17,360 Speaker 2: then it's going to do that loop again the next day, right, 286 00:15:18,080 --> 00:15:23,080 Speaker 2: so it goes from Minneapolis to Ontario, maybe the flight 287 00:15:23,240 --> 00:15:27,680 Speaker 2: to El Paso gets canceled. Well, now you've got people 288 00:15:27,680 --> 00:15:29,840 Speaker 2: in an El Paso that are trying to get the Minneapolis, 289 00:15:30,120 --> 00:15:33,400 Speaker 2: the plane isn't there to even rebook it, and you've 290 00:15:33,400 --> 00:15:35,840 Speaker 2: got an extra plane to sitting in Ontario. So how 291 00:15:35,840 --> 00:15:38,920 Speaker 2: do you see. It turns into a total mess. It's 292 00:15:38,920 --> 00:15:41,920 Speaker 2: a logistical nightmare. Then you also have crew members that 293 00:15:41,920 --> 00:15:44,280 Speaker 2: are trying to get home. They look, they wore long ships. 294 00:15:44,320 --> 00:15:45,480 Speaker 2: They want to go home to their families. They want 295 00:15:45,480 --> 00:15:47,080 Speaker 2: to stay on their schedule. So you're gonna have to 296 00:15:47,120 --> 00:15:49,920 Speaker 2: have all that sorted, and so you're gonna have airlines, 297 00:15:49,920 --> 00:15:52,000 Speaker 2: then they're gonna have to rebook some of the canceled flights. 298 00:15:52,040 --> 00:15:54,040 Speaker 2: I think part of the reason that things are chill 299 00:15:54,040 --> 00:15:56,360 Speaker 2: at the airport right now is that a number of 300 00:15:56,400 --> 00:15:59,000 Speaker 2: people got ahead of it and they said, if it's 301 00:15:59,040 --> 00:16:01,120 Speaker 2: a business trip, we're have to zoom this thing because 302 00:16:01,560 --> 00:16:03,360 Speaker 2: I'm not gonna I'm not gonna take the chance of 303 00:16:03,400 --> 00:16:07,320 Speaker 2: dealing with the airport. If it was a vacation, maybe 304 00:16:07,360 --> 00:16:10,120 Speaker 2: you've got people that decided we're gonna find another way 305 00:16:10,160 --> 00:16:10,560 Speaker 2: to get there. 306 00:16:11,640 --> 00:16:14,440 Speaker 3: If it's one or the other. Maybe they're just rescheduling 307 00:16:14,520 --> 00:16:15,160 Speaker 3: whatever they can. 308 00:16:15,280 --> 00:16:18,880 Speaker 2: But I think that many people are saying, there's no 309 00:16:18,920 --> 00:16:21,160 Speaker 2: guarantee that flight is gonna take off. There's no guarantee 310 00:16:21,160 --> 00:16:22,960 Speaker 2: that it's gonna be anywhere close to on time. I'm 311 00:16:23,000 --> 00:16:25,720 Speaker 2: not gonna take the risk. I'm going to rebook. And 312 00:16:25,760 --> 00:16:27,800 Speaker 2: the airlines are working with them too. Airlines are doing 313 00:16:27,800 --> 00:16:29,200 Speaker 2: a good job of this too. I haven't heard anybody 314 00:16:29,240 --> 00:16:31,000 Speaker 2: complaining about the airlines. Maybe you have a story, but 315 00:16:31,040 --> 00:16:33,640 Speaker 2: I haven't heard anybody complaining about it. So the idea 316 00:16:33,640 --> 00:16:35,200 Speaker 2: that the planes are gonna get right back in the air. 317 00:16:35,240 --> 00:16:37,240 Speaker 2: Let's say that the House votes on this tomorrow night 318 00:16:38,000 --> 00:16:39,920 Speaker 2: and that the Senate takes it up. 319 00:16:40,160 --> 00:16:41,240 Speaker 3: I don't know if they take it right away. 320 00:16:41,280 --> 00:16:43,160 Speaker 2: Orf they'll take it on Thursday, and then they send 321 00:16:43,160 --> 00:16:44,600 Speaker 2: it off to the President and as soon as he 322 00:16:44,640 --> 00:16:46,640 Speaker 2: gets back from golfing, then he can sign the bill. 323 00:16:47,000 --> 00:16:49,440 Speaker 2: And we're not gonna see planes go right back into 324 00:16:49,440 --> 00:16:51,000 Speaker 2: the air right away. It's just not gonna happen. Snap 325 00:16:51,000 --> 00:16:54,760 Speaker 2: benefits are't gon to be distributed immediately. Just not going 326 00:16:54,800 --> 00:16:58,080 Speaker 2: to happen. But it will happen soon enough. 327 00:16:58,480 --> 00:16:58,600 Speaker 3: Then. 328 00:16:58,600 --> 00:17:02,240 Speaker 2: The anticipation now is that we will resume regular flights 329 00:17:03,160 --> 00:17:05,360 Speaker 2: two to five days after things are done, which. 330 00:17:05,119 --> 00:17:10,200 Speaker 3: Means in time for holiday travel. Fingers crossed. 331 00:17:10,800 --> 00:17:13,480 Speaker 2: Meanwhile, the President does have a new proposal and it 332 00:17:13,520 --> 00:17:17,960 Speaker 2: could mean you get into a house in southern California. 333 00:17:17,280 --> 00:17:18,800 Speaker 3: Even if you thought you couldn't afford it. 334 00:17:19,680 --> 00:17:22,760 Speaker 2: But anyway you slice it, whether it's a thirty year 335 00:17:22,840 --> 00:17:25,480 Speaker 2: a fifty year mortgage, it doesn't help with the personal 336 00:17:25,520 --> 00:17:28,480 Speaker 2: debt spiral that's going on. How a longer loan could 337 00:17:28,640 --> 00:17:32,000 Speaker 2: reshape the American dream is next. I'm Chris Maryland. 338 00:17:32,680 --> 00:17:36,120 Speaker 1: You're listening to KFI AM six forty on demand. 339 00:17:38,840 --> 00:17:39,720 Speaker 3: We lost a legend. 340 00:17:39,760 --> 00:17:42,160 Speaker 2: You've heard Mark talking about that in his news Tonight, 341 00:17:42,200 --> 00:17:45,080 Speaker 2: we'll talk about Sally Kirklin coming up here at eight o'clock. 342 00:17:45,280 --> 00:17:50,879 Speaker 2: And there was also another celebrity death that is truly 343 00:17:50,960 --> 00:17:51,520 Speaker 2: a tragedy. 344 00:17:51,720 --> 00:17:55,080 Speaker 3: We'll find out what that is. Still to come again 345 00:17:55,320 --> 00:17:56,480 Speaker 3: right after nine. 346 00:17:56,720 --> 00:17:59,680 Speaker 2: I wanted to bring this up so a lot of 347 00:17:59,720 --> 00:18:03,520 Speaker 2: people are understandably so frustrated. But my son, on a 348 00:18:03,520 --> 00:18:06,480 Speaker 2: pretty regular basis, complains about boomers hoarding everything. He says, 349 00:18:06,480 --> 00:18:08,560 Speaker 2: the boomers have taken everything. The boomers have all the money, 350 00:18:08,560 --> 00:18:09,879 Speaker 2: the boomers have all the real estate. 351 00:18:10,200 --> 00:18:10,760 Speaker 3: I'm gen z. 352 00:18:10,920 --> 00:18:13,280 Speaker 2: I can't get a job, I'm going to be replaced 353 00:18:13,320 --> 00:18:15,679 Speaker 2: by AI, and I couldn't afford a house even if 354 00:18:15,720 --> 00:18:17,600 Speaker 2: I wanted one and the boomers have it all and 355 00:18:17,600 --> 00:18:22,119 Speaker 2: they're not They're not letting it go. Okay, So I 356 00:18:22,119 --> 00:18:26,280 Speaker 2: mean he's not wrong, but it is obviously a pretty 357 00:18:26,280 --> 00:18:27,600 Speaker 2: one sided argument that he's making. 358 00:18:28,720 --> 00:18:31,760 Speaker 3: So the President says he is going to make a difference, 359 00:18:32,600 --> 00:18:33,280 Speaker 3: he's got. 360 00:18:33,080 --> 00:18:35,679 Speaker 2: A plan, and he was talking with Fox News is 361 00:18:35,720 --> 00:18:39,320 Speaker 2: Laura Ingram, But even Laura Ingram thought it was a 362 00:18:39,440 --> 00:18:40,320 Speaker 2: terrible idea. 363 00:18:40,960 --> 00:18:42,880 Speaker 3: Laura Ingram might be put on blast. 364 00:18:43,080 --> 00:18:45,840 Speaker 9: Housing costs are still out of reach and another thing 365 00:18:45,920 --> 00:18:49,280 Speaker 9: that your administration is trying to tackle on many Americans. 366 00:18:49,320 --> 00:18:50,199 Speaker 3: The average age of. 367 00:18:50,240 --> 00:18:52,840 Speaker 9: First time home buyers are now up to age forty, 368 00:18:52,840 --> 00:18:54,960 Speaker 9: which is sad the country and. 369 00:18:54,920 --> 00:18:57,440 Speaker 10: I inherited that. Look, you have to understand, right. 370 00:18:57,359 --> 00:18:59,000 Speaker 9: But how does he get to the Quinn question though? 371 00:18:59,000 --> 00:19:03,040 Speaker 3: Because whoa do not interrupt him? Excuse me, excuse me, 372 00:19:03,440 --> 00:19:04,080 Speaker 3: listen to her. 373 00:19:04,280 --> 00:19:05,159 Speaker 10: I've done the stand right. 374 00:19:05,200 --> 00:19:07,120 Speaker 9: But how's you get to the Quinn question though? Because 375 00:19:07,240 --> 00:19:08,400 Speaker 9: you're housing. 376 00:19:08,520 --> 00:19:10,960 Speaker 3: Very nasty women, very nasty women. 377 00:19:11,280 --> 00:19:15,359 Speaker 9: Director has proposed something that has enraged your MAGA friends, 378 00:19:15,720 --> 00:19:19,719 Speaker 9: which is this fifty year mortgage idea. So a significant 379 00:19:19,760 --> 00:19:22,639 Speaker 9: MAGA backlash, calling it a giveaway to the banks and 380 00:19:22,680 --> 00:19:26,080 Speaker 9: simply prolonging the time it would take for Americans to 381 00:19:26,080 --> 00:19:26,640 Speaker 9: own a home. 382 00:19:26,840 --> 00:19:27,399 Speaker 10: Outright. 383 00:19:28,000 --> 00:19:29,600 Speaker 3: That sounds very liberal, doesn't it. 384 00:19:30,600 --> 00:19:34,440 Speaker 2: They're upset about policy change that would benefit the banks 385 00:19:34,440 --> 00:19:35,200 Speaker 2: and hurt the people. 386 00:19:38,840 --> 00:19:42,040 Speaker 3: Sound like you're San Francisco liberals out there. 387 00:19:42,600 --> 00:19:44,280 Speaker 9: Is that really a good idea? 388 00:19:44,400 --> 00:19:46,919 Speaker 10: It's not even a big deal. I mean, you know, 389 00:19:47,119 --> 00:19:50,080 Speaker 10: you go from forty to fifty years, and what otherses 390 00:19:50,160 --> 00:19:50,520 Speaker 10: you pay? 391 00:19:51,000 --> 00:19:52,960 Speaker 3: Yeah, I don't think he knows how long a mortgage is. 392 00:19:53,400 --> 00:19:55,879 Speaker 10: You pay something less from thirty that Some people had 393 00:19:55,880 --> 00:19:57,760 Speaker 10: a forty and then they have a fifty. 394 00:19:58,240 --> 00:20:00,679 Speaker 3: I think he thinks that the average more length. Right 395 00:20:00,680 --> 00:20:01,520 Speaker 3: now it is forty years. 396 00:20:02,119 --> 00:20:03,720 Speaker 10: All it means is you pay less per month you 397 00:20:03,760 --> 00:20:06,159 Speaker 10: paid over a longer period of time. It's not like 398 00:20:06,200 --> 00:20:09,440 Speaker 10: a big factor. It might help a little bit. But 399 00:20:09,480 --> 00:20:12,000 Speaker 10: the problem was that Biden did this. He increased the 400 00:20:12,040 --> 00:20:14,480 Speaker 10: interest rates. And I have a lousy fed person who's 401 00:20:14,520 --> 00:20:16,960 Speaker 10: going to be gone in a few months. Fortunately, I 402 00:20:17,000 --> 00:20:18,920 Speaker 10: have a guy too late in a Jerome Powell. We 403 00:20:19,000 --> 00:20:20,800 Speaker 10: call him too late. He was too late and everything. 404 00:20:21,560 --> 00:20:25,359 Speaker 2: So Biden raised the rates. But Trump is powerless to 405 00:20:25,440 --> 00:20:29,640 Speaker 2: lower the rates. So it's a tough spottising. 406 00:20:30,320 --> 00:20:32,240 Speaker 10: Except when it came to before the you know, the 407 00:20:32,320 --> 00:20:36,920 Speaker 10: Democrat so called Democrat election, which didn't work. But we're 408 00:20:36,960 --> 00:20:39,399 Speaker 10: going to get interest rates then. But even with interest 409 00:20:39,480 --> 00:20:42,760 Speaker 10: rates up, the economy is the strongest it's ever been. 410 00:20:43,040 --> 00:20:44,399 Speaker 10: You know, you asked me just to go back to 411 00:20:44,440 --> 00:20:47,160 Speaker 10: the beginning of your question. You talked about press were 412 00:20:47,200 --> 00:20:49,359 Speaker 10: down on energy, We're down on interest rate. You know, 413 00:20:49,400 --> 00:20:51,200 Speaker 10: interest rates are down despite the Fed. 414 00:20:51,480 --> 00:20:53,880 Speaker 3: Now what I thought you just said they were up. 415 00:20:54,359 --> 00:20:56,159 Speaker 10: The Fed, that we had a normal person, that the 416 00:20:56,160 --> 00:20:58,640 Speaker 10: Fed would have really low interest rates and we will 417 00:20:58,640 --> 00:20:59,280 Speaker 10: soon have that. 418 00:20:59,359 --> 00:21:00,800 Speaker 3: Well, somebody, then. 419 00:21:00,720 --> 00:21:03,280 Speaker 9: Why are people saying they're anxious about the economy? Why 420 00:21:03,320 --> 00:21:03,919 Speaker 9: are they saying that? 421 00:21:04,280 --> 00:21:06,119 Speaker 10: I don't know that they are said, I think polls 422 00:21:06,119 --> 00:21:06,520 Speaker 10: are fake. 423 00:21:07,400 --> 00:21:13,080 Speaker 2: Okay, all right, let's just let's just focus on one 424 00:21:13,119 --> 00:21:16,080 Speaker 2: thing instead of trying to drink this entire idea of 425 00:21:16,080 --> 00:21:19,640 Speaker 2: soup all at once. So he wants to he wants 426 00:21:19,680 --> 00:21:24,520 Speaker 2: to bring he wants to have fifty year mortgages perspective. 427 00:21:26,440 --> 00:21:29,679 Speaker 2: I'm forty hold of mine, forty seven. I had to 428 00:21:29,680 --> 00:21:31,760 Speaker 2: think for a moment. I'm forty seven, and I was 429 00:21:31,760 --> 00:21:34,199 Speaker 2: thinking about a fifty year mortgage, and I was just thinking, 430 00:21:34,600 --> 00:21:38,200 Speaker 2: there are a fifty year mortgage, my parents would still 431 00:21:38,200 --> 00:21:40,639 Speaker 2: be in that house that they bought right before I 432 00:21:40,720 --> 00:21:44,480 Speaker 2: was born. What I dump now, I know very few 433 00:21:44,480 --> 00:21:47,120 Speaker 2: people stay through all thirty years of their thirty year mortgage, 434 00:21:47,119 --> 00:21:49,879 Speaker 2: that kind of thing. But if you talk to financial advisors, 435 00:21:50,680 --> 00:21:54,280 Speaker 2: they don't advise taking out a longer loan. If you 436 00:21:54,359 --> 00:21:57,840 Speaker 2: run an amateurization table on this stuff, it it ends 437 00:21:57,920 --> 00:22:01,400 Speaker 2: up sure your payment is lower, but what you pay 438 00:22:01,400 --> 00:22:07,520 Speaker 2: in the long run is significantly more. Consider what happens 439 00:22:07,560 --> 00:22:09,800 Speaker 2: when it comes to the price of vehicles and how 440 00:22:09,880 --> 00:22:14,480 Speaker 2: now people are running vehicle loans when I was when 441 00:22:14,480 --> 00:22:18,800 Speaker 2: I was a lad, like thirty six although after sixty months, 442 00:22:18,880 --> 00:22:20,840 Speaker 2: you know, three to five year loan on a vehicle. 443 00:22:21,800 --> 00:22:24,560 Speaker 3: And then it got so that vehicle loans were well. 444 00:22:24,600 --> 00:22:26,800 Speaker 2: People wanted more expensive cars, and so they started getting 445 00:22:26,840 --> 00:22:31,439 Speaker 2: these seventy two month loans six years. And I remember 446 00:22:31,600 --> 00:22:33,720 Speaker 2: my parents when they saw this, they were paying six 447 00:22:33,840 --> 00:22:34,600 Speaker 2: years on a car. 448 00:22:34,640 --> 00:22:35,399 Speaker 3: What are you crazy? 449 00:22:36,520 --> 00:22:38,520 Speaker 2: Now you can get seven year loans on a vehicle, 450 00:22:39,840 --> 00:22:42,440 Speaker 2: and people go, that's not a good idea, that that's 451 00:22:42,480 --> 00:22:45,720 Speaker 2: not a fiscally sound plan, especially on a vehicle, which 452 00:22:45,760 --> 00:22:48,120 Speaker 2: is a depreciating asset. When it comes to a fifty 453 00:22:48,200 --> 00:22:51,199 Speaker 2: year mortgage on a home. You buy a house right 454 00:22:51,240 --> 00:22:54,280 Speaker 2: now for let's just use I'm gonna use around numbers. 455 00:22:54,280 --> 00:22:55,919 Speaker 2: They're easy to say. You buy a house now for 456 00:22:55,920 --> 00:22:58,600 Speaker 2: a million dollars. By the time you're done paying on 457 00:22:58,640 --> 00:23:01,119 Speaker 2: that house, especially today is interest rates, you're paying well 458 00:23:01,160 --> 00:23:04,880 Speaker 2: over two million dollars. Okay, on a thirty year loan, 459 00:23:04,880 --> 00:23:07,280 Speaker 2: you'll pay well over two million dollars if. 460 00:23:07,200 --> 00:23:09,080 Speaker 3: You stretched that out to fifty years. 461 00:23:10,200 --> 00:23:12,640 Speaker 2: Now you're talking about paying something like four million dollars 462 00:23:13,800 --> 00:23:19,000 Speaker 2: for a one million dollar home. Basically, you're just renting it. Well, 463 00:23:19,040 --> 00:23:20,640 Speaker 2: you could make the argument you rent everything in life 464 00:23:20,640 --> 00:23:22,520 Speaker 2: because you can't take it with you, but yeah, it 465 00:23:22,560 --> 00:23:24,400 Speaker 2: really is what you're doing. You're renting it from the bank. 466 00:23:24,440 --> 00:23:27,240 Speaker 2: And which is why the Magro crowd is saying this 467 00:23:27,440 --> 00:23:31,280 Speaker 2: is good for the banks, because what happens is basically 468 00:23:31,320 --> 00:23:33,479 Speaker 2: the banks own all of the real estate and they 469 00:23:33,520 --> 00:23:36,760 Speaker 2: become the world the nation's landlords, which you might argue 470 00:23:36,760 --> 00:23:39,400 Speaker 2: that you're already doing. But let me let me make 471 00:23:39,400 --> 00:23:43,200 Speaker 2: this argument. This to me is one of the reasons 472 00:23:43,200 --> 00:23:46,560 Speaker 2: that this does not make sense. It doesn't achieve the goal. 473 00:23:46,760 --> 00:23:49,840 Speaker 2: If the goal is affordability, and I can't afford a 474 00:23:49,880 --> 00:23:52,960 Speaker 2: million dollar house, can't make the payments on a million 475 00:23:52,960 --> 00:23:57,680 Speaker 2: dollar house. Median income in southern California isn't anywhere close 476 00:23:57,720 --> 00:24:00,720 Speaker 2: to being able to afford a median home in southern California. 477 00:24:00,800 --> 00:24:02,400 Speaker 2: And if you wanted to be in a decent neighborhood 478 00:24:02,400 --> 00:24:04,440 Speaker 2: with a nice school nearby, you're really hosed. 479 00:24:05,160 --> 00:24:06,480 Speaker 3: You just don't plan on it. 480 00:24:08,560 --> 00:24:10,240 Speaker 2: But if all of a sudden you got a fifty 481 00:24:10,320 --> 00:24:12,800 Speaker 2: year mortgage that's available, and you go, okay, you know, 482 00:24:12,840 --> 00:24:15,720 Speaker 2: I couldn't make that five thousand dollars a month payment, 483 00:24:15,760 --> 00:24:17,600 Speaker 2: but I might be able to make a three thousand 484 00:24:17,640 --> 00:24:19,520 Speaker 2: dollar a month payment or thirty five hundred dollars a month, 485 00:24:19,600 --> 00:24:21,639 Speaker 2: or whatever the break point is. And I didn't do 486 00:24:21,680 --> 00:24:24,840 Speaker 2: the mathematic, I might be able to make that. And 487 00:24:24,880 --> 00:24:26,399 Speaker 2: you think, Okay, now I can be a homeowner. I 488 00:24:26,440 --> 00:24:28,960 Speaker 2: can start building some equity. And I'm all for you 489 00:24:29,000 --> 00:24:31,560 Speaker 2: building equity. I think that's a great idea. Except this, 490 00:24:32,800 --> 00:24:34,760 Speaker 2: if I'm the seller of that home and I'm trying 491 00:24:34,760 --> 00:24:37,879 Speaker 2: to get a million dollars for it, and the pool 492 00:24:37,880 --> 00:24:42,080 Speaker 2: of people buying right now is not very big because 493 00:24:42,119 --> 00:24:46,080 Speaker 2: of the affordability issues, and all of a sudden, that 494 00:24:46,160 --> 00:24:51,639 Speaker 2: pool of potential buyers explodes. Why wouldn't I raise the 495 00:24:51,720 --> 00:24:55,879 Speaker 2: price and ask for more Why wouldn't I continue to 496 00:24:55,920 --> 00:24:58,199 Speaker 2: try to get those people that could make five thousand 497 00:24:58,200 --> 00:25:00,560 Speaker 2: dollars a month payments can spread it. 498 00:25:00,560 --> 00:25:04,080 Speaker 3: Out over sixty years or over fifty years. Why wouldn't 499 00:25:04,119 --> 00:25:04,800 Speaker 3: I do that. 500 00:25:06,240 --> 00:25:08,240 Speaker 2: I'm going to raise the price as the pool of 501 00:25:08,240 --> 00:25:12,800 Speaker 2: buyers grows, demand grows, which means that you're supplying demand shifts, 502 00:25:13,160 --> 00:25:15,359 Speaker 2: and the suppliers in this case, that the home sellers 503 00:25:15,400 --> 00:25:17,760 Speaker 2: are going to start asking for more money, which means 504 00:25:17,760 --> 00:25:20,840 Speaker 2: it drives the price of real estate up even higher. 505 00:25:20,920 --> 00:25:26,800 Speaker 2: It doesn't solve the problem, it exacerbates the problem. So 506 00:25:26,880 --> 00:25:29,720 Speaker 2: I don't think it's a great plan. And also, anytime 507 00:25:29,760 --> 00:25:32,120 Speaker 2: you can take a shorter term loan, that's more money 508 00:25:32,160 --> 00:25:32,560 Speaker 2: in your. 509 00:25:32,440 --> 00:25:33,280 Speaker 3: Pocket in the end. 510 00:25:33,720 --> 00:25:36,119 Speaker 2: If you can buy your car and thirty six months 511 00:25:36,160 --> 00:25:38,760 Speaker 2: instead of seventy two months, that's more money in your 512 00:25:38,800 --> 00:25:40,280 Speaker 2: pocket at the end and lesson the banks. If you 513 00:25:40,280 --> 00:25:42,520 Speaker 2: can buy your home in fifteen years instead of thirty years, 514 00:25:42,720 --> 00:25:46,600 Speaker 2: that's more money in your pocket, not the bank's pocket. Otherwise, 515 00:25:46,720 --> 00:25:49,080 Speaker 2: to Mark's point, and a really good point, Mark, Why 516 00:25:49,080 --> 00:25:52,720 Speaker 2: would you buy just ran, which is what gen Z 517 00:25:52,880 --> 00:25:55,960 Speaker 2: is doing anyway right now, medium first time home buyer 518 00:25:56,040 --> 00:25:57,840 Speaker 2: right now is forty years old. As you heard Laura 519 00:25:58,000 --> 00:26:01,040 Speaker 2: Ingram point out, why even try to have a home 520 00:26:01,840 --> 00:26:08,200 Speaker 2: just ranked? The American dream is it's not life support 521 00:26:08,240 --> 00:26:11,480 Speaker 2: at this point, it's pretty much gone. Speaking of debt, 522 00:26:11,520 --> 00:26:13,080 Speaker 2: credit card checkout is about to get a whole lot 523 00:26:13,080 --> 00:26:15,280 Speaker 2: messier too. There's new rules and depending on what card 524 00:26:15,320 --> 00:26:17,320 Speaker 2: you have in your pocket, it could mean more choices, 525 00:26:17,400 --> 00:26:19,600 Speaker 2: more fees, more confusion. When you get to the register. 526 00:26:20,760 --> 00:26:22,600 Speaker 2: What looks like a swipe is about to turn into 527 00:26:22,600 --> 00:26:26,440 Speaker 2: a negotiation over how you pay and how much it costs. 528 00:26:26,720 --> 00:26:27,920 Speaker 3: That's next. I'm Chris Merrill. 529 00:26:28,760 --> 00:26:36,000 Speaker 1: You're listening to KFI AM six forty on demand, Hey 530 00:26:36,080 --> 00:26:36,760 Speaker 1: Chris Meryl. 531 00:26:36,600 --> 00:26:41,400 Speaker 2: CAFI AM six forty on demand anytime and the iHeartRadio app. 532 00:26:41,400 --> 00:26:42,760 Speaker 2: And when you're on that app, you can knows hit 533 00:26:42,760 --> 00:26:44,520 Speaker 2: that talk back button. I just send a message in here. 534 00:26:44,560 --> 00:26:46,360 Speaker 2: You record a little message. If it's good, might play 535 00:26:46,359 --> 00:26:48,560 Speaker 2: it on the air. And if even if it is good, 536 00:26:48,600 --> 00:26:50,040 Speaker 2: it might not make it under the air because we 537 00:26:50,080 --> 00:26:52,679 Speaker 2: may have moved on. But I do listen to them 538 00:26:52,680 --> 00:26:54,959 Speaker 2: all I do appreciate all of them, unless you're being 539 00:26:55,000 --> 00:26:58,960 Speaker 2: an a hole, and then I don't appreciate you, although 540 00:26:59,000 --> 00:27:01,120 Speaker 2: there's not very many of you do, so I appreciate that. 541 00:27:02,359 --> 00:27:06,879 Speaker 3: Yeah, a whole free zone. I think that's fair. You 542 00:27:06,880 --> 00:27:07,400 Speaker 3: ever go to. 543 00:27:07,359 --> 00:27:12,320 Speaker 2: The store and they have two prices listed. One is 544 00:27:12,320 --> 00:27:15,040 Speaker 2: the cash price, one is the credit card price, right, 545 00:27:15,200 --> 00:27:19,000 Speaker 2: you ever do that? I've seen that before. It's about 546 00:27:19,000 --> 00:27:20,880 Speaker 2: to get a whole lot more complicated. You may see 547 00:27:20,880 --> 00:27:24,280 Speaker 2: a whole list of different prices for the single product 548 00:27:24,280 --> 00:27:27,040 Speaker 2: that you're about to buy, all depending on how you 549 00:27:27,240 --> 00:27:28,400 Speaker 2: plan on paying for it. 550 00:27:28,640 --> 00:27:30,000 Speaker 3: From Bloomberg Radio. 551 00:27:30,080 --> 00:27:33,800 Speaker 8: Big Deal announced yesterday between Visa, MasterCard and merchants would 552 00:27:33,840 --> 00:27:36,040 Speaker 8: make a little bit more flexibility on the part of 553 00:27:36,119 --> 00:27:38,800 Speaker 8: merchants here. They could basically say, hey, we're going to 554 00:27:38,880 --> 00:27:41,200 Speaker 8: take the lower tier version of a Visa or a 555 00:27:41,240 --> 00:27:44,000 Speaker 8: master card, but we're maybe not going to accept airline 556 00:27:44,040 --> 00:27:47,600 Speaker 8: miles cards or cash back cards. And then alternatively, they 557 00:27:47,640 --> 00:27:49,880 Speaker 8: also might have the option of passing those fees onto 558 00:27:50,000 --> 00:27:52,680 Speaker 8: you the consumer at the register if they do take them. 559 00:27:52,680 --> 00:27:55,240 Speaker 8: So some big changes here and how things are shaping 560 00:27:55,320 --> 00:27:57,200 Speaker 8: up well, I've noticed in the last couple of three 561 00:27:57,240 --> 00:27:59,640 Speaker 8: years they are doing that. Yeah, I mean almost every 562 00:27:59,640 --> 00:28:01,440 Speaker 8: merchant I go to now, I don't know if it's 563 00:28:01,440 --> 00:28:02,040 Speaker 8: just a state. 564 00:28:01,880 --> 00:28:04,680 Speaker 3: Of New Jersey thing. It's probably New Jersey, but. 565 00:28:04,640 --> 00:28:06,680 Speaker 8: They're saying, Hey, here's the cash price, here's the credit 566 00:28:06,720 --> 00:28:09,520 Speaker 8: card price. Yeah, Paul, this is actually a really interesting 567 00:28:09,560 --> 00:28:11,960 Speaker 8: issue here because state by state, there's a lot of 568 00:28:12,000 --> 00:28:13,960 Speaker 8: differences in how this actually plays out. 569 00:28:14,200 --> 00:28:14,960 Speaker 3: In New York and I. 570 00:28:14,880 --> 00:28:15,400 Speaker 8: See this too. 571 00:28:15,400 --> 00:28:17,080 Speaker 3: When I go to my dry cleaner, it's like, oh, 572 00:28:17,119 --> 00:28:19,920 Speaker 3: maybe that's four when you go to your wear two. 573 00:28:19,960 --> 00:28:22,400 Speaker 8: When I go to my dry cleaner, it's like, what 574 00:28:23,200 --> 00:28:26,280 Speaker 8: might dry cleaner? Huh might dry cleaner? 575 00:28:26,320 --> 00:28:34,720 Speaker 3: It's who says dry cleaner? Is that anyone clean? What 576 00:28:34,760 --> 00:28:37,199 Speaker 3: do you say? You go to your dry cleaner? 577 00:28:38,120 --> 00:28:41,120 Speaker 6: Isn't that what the dry clean dry cleaner? 578 00:28:42,240 --> 00:28:45,240 Speaker 3: You said it right, No, he's going to his dry cleaner. 579 00:28:45,760 --> 00:28:48,640 Speaker 6: Are you saying it might dry cleaners? Is that the 580 00:28:48,720 --> 00:28:50,560 Speaker 6: emphasis on the wrong syllable? 581 00:28:51,840 --> 00:28:53,720 Speaker 3: Correct? Exactly. 582 00:28:53,960 --> 00:28:56,280 Speaker 2: Also, Nikki, you're you're the second person I've ever met 583 00:28:56,280 --> 00:28:59,240 Speaker 2: to say that love you for love you more like, oh. 584 00:28:59,080 --> 00:29:01,440 Speaker 8: Maybe that's four percent more If I'm going to use 585 00:29:01,480 --> 00:29:04,240 Speaker 8: my credit card here, that's actually illegal in New York. 586 00:29:04,360 --> 00:29:06,600 Speaker 8: Right now to do that, but the enforcement seems to 587 00:29:06,600 --> 00:29:08,280 Speaker 8: be lacking that this is a new law pass in 588 00:29:08,320 --> 00:29:10,600 Speaker 8: twenty twenty four. There has to be an upfront kind 589 00:29:10,640 --> 00:29:12,920 Speaker 8: of price on a tag if they're going to pass 590 00:29:12,960 --> 00:29:14,880 Speaker 8: us for a charge onto the consumer in New York. 591 00:29:15,040 --> 00:29:16,720 Speaker 3: Okay, well, I don't care about New York. Here's what 592 00:29:16,760 --> 00:29:17,240 Speaker 3: I care about. 593 00:29:17,960 --> 00:29:21,680 Speaker 2: You probably already understand that there's the merchant fee every 594 00:29:21,680 --> 00:29:24,160 Speaker 2: time a credit card is swiped, so it's usually like 595 00:29:24,200 --> 00:29:28,240 Speaker 2: three percent. Well, what happens is the credit card companies 596 00:29:29,360 --> 00:29:31,640 Speaker 2: start offering these different deals. For instance, I have a 597 00:29:31,640 --> 00:29:33,680 Speaker 2: couple of airline credit cards that I that I like 598 00:29:33,720 --> 00:29:37,080 Speaker 2: to use, and so I stack miles. But what happens 599 00:29:37,160 --> 00:29:40,480 Speaker 2: is that the credit card companies aren't benevolent in just 600 00:29:40,600 --> 00:29:43,800 Speaker 2: giving you airline miles or buying those miles on your behalf. 601 00:29:44,600 --> 00:29:47,720 Speaker 2: They're passing that cost on to the merchant. So that 602 00:29:48,840 --> 00:29:50,920 Speaker 2: drives prices up a little bit. But for the most part, 603 00:29:50,960 --> 00:29:53,320 Speaker 2: the merchants kind of suck it up and go, Okay, well, 604 00:29:53,360 --> 00:29:55,360 Speaker 2: you know what, it costs US three percent to process 605 00:29:55,400 --> 00:29:57,160 Speaker 2: this card, or maybe it costs US three and a 606 00:29:57,200 --> 00:29:59,720 Speaker 2: half or four percent if they've got a specialty tiered card, 607 00:30:00,040 --> 00:30:04,520 Speaker 2: these rewards cards, but we're making the sale and we're making, 608 00:30:04,800 --> 00:30:08,680 Speaker 2: you know, fifteen percent profit. So in the end, we 609 00:30:08,760 --> 00:30:11,920 Speaker 2: don't want to give the consumer a reason not to 610 00:30:11,960 --> 00:30:15,120 Speaker 2: shop at our store. Okay, some places, though, say, we 611 00:30:15,160 --> 00:30:17,360 Speaker 2: don't have the margins, so we have to charge the fees. 612 00:30:18,280 --> 00:30:20,520 Speaker 2: The settlement between Visa and MasterCard, and this has been 613 00:30:20,520 --> 00:30:24,600 Speaker 2: going on for twenty years, this lawsuit over merchant fees. 614 00:30:25,280 --> 00:30:28,560 Speaker 2: Basically what they said is, you know what, just do whatever. 615 00:30:28,800 --> 00:30:31,320 Speaker 2: You can charge people whatever you want. You can ask 616 00:30:31,400 --> 00:30:34,000 Speaker 2: people what kind of credit card they have, and if 617 00:30:34,000 --> 00:30:36,200 Speaker 2: they have a card that has say, cash back rewards, 618 00:30:36,480 --> 00:30:38,480 Speaker 2: or if it's a card that has say airline miles 619 00:30:38,960 --> 00:30:43,800 Speaker 2: or whatever it is, you can't or my folks have 620 00:30:43,800 --> 00:30:46,640 Speaker 2: one for time shares or Costco or whatever it might be. Right, 621 00:30:47,520 --> 00:30:51,880 Speaker 2: you can charge a different price depending on what kind 622 00:30:51,920 --> 00:30:54,360 Speaker 2: of card they're using, and if that card has rewards. 623 00:30:56,160 --> 00:30:57,520 Speaker 3: You want to talk about confusion. 624 00:30:59,240 --> 00:31:01,880 Speaker 2: I mean, you're getting ready to swipe and they're like, oh, actually, 625 00:31:01,880 --> 00:31:03,200 Speaker 2: what kind of card do you have? Oh that's four 626 00:31:03,240 --> 00:31:06,040 Speaker 2: percent more? But wait, what if I use my debit card? 627 00:31:06,080 --> 00:31:08,320 Speaker 2: Oh that we don't charge a fee on the debit card. Oh, 628 00:31:09,160 --> 00:31:11,320 Speaker 2: so but my credit card, you're gonna churach me. You're 629 00:31:11,320 --> 00:31:12,040 Speaker 2: gonna charge me a. 630 00:31:11,960 --> 00:31:12,480 Speaker 3: Fee on that. 631 00:31:12,920 --> 00:31:14,800 Speaker 2: Yeah, unless you have this credit card that doesn't have 632 00:31:14,800 --> 00:31:17,640 Speaker 2: any perks. So wait, if I use the card with 633 00:31:17,720 --> 00:31:20,000 Speaker 2: no perks, you charge me two and a half percent. 634 00:31:20,040 --> 00:31:21,800 Speaker 2: But if I get airline miles, you're gonna charge me 635 00:31:21,800 --> 00:31:22,360 Speaker 2: three percent. 636 00:31:22,680 --> 00:31:24,400 Speaker 3: But if he's a debit card, you're not gonna charge 637 00:31:24,440 --> 00:31:24,880 Speaker 3: me anything. 638 00:31:27,400 --> 00:31:30,120 Speaker 2: Boy boy, how is this gonna look when you have 639 00:31:30,640 --> 00:31:37,680 Speaker 2: a ninety year old man standing there at Denny's trying 640 00:31:37,680 --> 00:31:40,120 Speaker 2: to pay for his eggs, which he's already convinced her 641 00:31:40,400 --> 00:31:41,200 Speaker 2: a sky high. 642 00:31:41,240 --> 00:31:42,680 Speaker 3: You remember when they were in nickel? 643 00:31:43,720 --> 00:31:45,440 Speaker 2: How is he gonna be able to figure this stuff out? 644 00:31:46,720 --> 00:31:49,640 Speaker 2: What an absolute mess. I think merchants are gonna find 645 00:31:49,640 --> 00:31:52,720 Speaker 2: that they'll just continue to suck it up because the 646 00:31:52,800 --> 00:31:54,360 Speaker 2: confusion will chase people away. 647 00:31:54,560 --> 00:31:55,960 Speaker 3: It is bad for business. 648 00:31:56,360 --> 00:32:00,560 Speaker 2: The entertainment world juggling endings and beginnings right now, from 649 00:32:00,600 --> 00:32:03,840 Speaker 2: farewells to fresh buzz. The spotlight is shifting who Hollywood 650 00:32:03,880 --> 00:32:06,760 Speaker 2: is morning and who they're hyping is next. 651 00:32:06,800 --> 00:32:10,840 Speaker 1: I'm Chris Maryland kf I AM six forty on demand