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Speaker 1: Fly from Midtown Manhattan. Here comes the Mark Simone Show

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Speaker 1: on seven ten wo on.

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Speaker 2: Well, we'll get to Kathy Hochele. The State of the

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Speaker 2: State speech did not impress anybody. We'll get to President Trump.

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Speaker 2: We'll get to Iran, We'll get to Kamala Harris. We'll

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Speaker 2: get to Mom Donnie, who turns out and out to

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Speaker 2: be a great texting buddy with Donald Trump. It said

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Speaker 2: that they text a few times a week. At least

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Speaker 2: twice a week they text. It's a bromance that has blossomed.

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Speaker 2: They discuss a wide range of topics. Lately they have

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Speaker 2: discussed Venezuela, zoning, red tape in the Big Apple, real

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Speaker 2: estate and now why does Trump like to take Well,

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Speaker 2: he'll talk to anybody. He'll talk You could be his

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Speaker 2: worst enemy. You could be the New York Times. You

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Speaker 2: could be Bill Maher. He'll bring you right into the

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Speaker 2: White House, sit down with you, talk to you. Could

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Speaker 2: be the awful, evil, deceptive, corrupt sixty minutes, he'll sit

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Speaker 2: down with you again and talk to you. Does it

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Speaker 2: all the time. And in the case of Mom Donnie,

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Speaker 2: he is the mayor of New York, so he does

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Speaker 2: have a lot of power over New York real estate

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Speaker 2: where Trump has a huge steak, and they you know,

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Speaker 2: it's like that old godfather, keep your enemies closer, kind

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Speaker 2: of a kind of a deal. Sources say, Mom Donnie

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Speaker 2: is not kissing his rear end, but speaking out to

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Speaker 2: Trump on his beliefs. Now, of course Trump kind of

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Speaker 2: rolling his eyes as he texts back the budding relationship,

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Speaker 2: the regularity of the texting or a big departure from

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Speaker 2: previous interactions between presidents and New York City, and that

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Speaker 2: might be part of it. Trump realizing he made a

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Speaker 2: mistake just avoiding Deblasio. You should try to just keep

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Speaker 2: talking to him, keep the door open and try to

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Speaker 2: work with him, try to persuade him. You never know,

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Speaker 2: And remember, Mom Donnie is just a little kid. He's

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Speaker 2: a little thirty four year old guy Trump, a senior

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Speaker 2: veteran who's everywhere done everything Mom Donnie, who's never even

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Speaker 2: had a job, never done much of anything in life.

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Speaker 2: So he could become some sort of mentor in a

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Speaker 2: way to Mom Donnie. Now they say he's also he's

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Speaker 2: kind of fascinated by the whole Mom Donnie's story. He

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Speaker 2: feels kind of an emotional connection to what Mom Donnie

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Speaker 2: did in that it's similar to Trump. Trump was a

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Speaker 2: guy who came out of nowhere politically. I mean, he

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Speaker 2: was a very successful business guy, but no political experience

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Speaker 2: of any kind. And usually if you're a business guy

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Speaker 2: who wants to get into politics, heh, you run for Congress,

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Speaker 2: maybe you run for Senate. We've had some business guys

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Speaker 2: run for mayor, run for governor, but for a business

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Speaker 2: guy out of nowhere to run for president, it's really unusual.

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Speaker 2: The most successful before that was Ross Perrault, but that

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Speaker 2: was a third party candidate. But to have a business

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Speaker 2: guy with no political experience come out of nowhere get

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Speaker 2: the Republican nomination, and to do so had to defeat

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Speaker 2: the Bush machine and the Clinton machine to get the nomination,

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Speaker 2: it's pretty impressive. So I think he kind of sees

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Speaker 2: Mom Donnie as really having to accomplished something impressive. A

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Speaker 2: guy with no job, no experience, no resume of any kind,

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Speaker 2: just a fast talker, talk his way into the nomination,

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Speaker 2: wipe out Andrew Cuomo in two debates to get the nomination,

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Speaker 2: wipe out everybody in the general, and win. So I

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Speaker 2: can understand that in just wanting to keep his keep

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Speaker 2: his hands on the Mam Donnie there. But maybe something

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Speaker 2: something good might come out of this. Maybe Trump can

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Speaker 2: persuade him on certain things. Now. President Trump has also

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Speaker 2: said sanctuary cities and states will have their federal funds

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Speaker 2: cut off on February first. That can be devastating for

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Speaker 2: states and cities that none federal money for transit, for

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Speaker 2: mass transit, for all kinds of things. It could even

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Speaker 2: affect the Medicaid food stamps, all that sort of stuff.

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Speaker 2: Twelve states really good to have a problem. California, Illinois,

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Speaker 2: New York, a bunch of the nation's ten largest cities

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Speaker 2: could have their funds cut off. Now New York is

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Speaker 2: a perfect candidate for that because of Kathy Holkle. That's

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Speaker 2: stupid state of the State of the State speech that

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Speaker 2: she made yesterday, which everybody thought was just awful, just nothing.

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Speaker 2: She just wants to get reelected. That's her only goal

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Speaker 2: to get re elected in November. So she just threw

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Speaker 2: out all the focus grouped buzzwords in her State of

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Speaker 2: the state, you know, affordability, just rattled off all the

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Speaker 2: affordability stuff except childcare, groceries, utility bills, parents, veterans, disabled seniors.

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Speaker 2: They all need relief. She kept talking about how bad

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Speaker 2: things were, everybody needs relief, how it's so awful and

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Speaker 2: something's got to be done. Okay, now this could be

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Speaker 2: a nice political speech, but the problem is Bruce Blakeman,

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Speaker 2: who's a much better talker than Kathy Hogel, far more

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Speaker 2: qualified to be governor of Kathy Ogel. His response was simple,

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Speaker 2: if you listen to her speech, you'd think she was

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Speaker 2: not the governor. You'd think she was just elected today.

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Speaker 2: She's been the governor for over four years. You know,

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Speaker 2: by the time it's election time, she'll have been the

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Speaker 2: governor five years. So if you're going to complain about

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Speaker 2: all this stuff, the argument is, why would anybody vote

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Speaker 2: for you if it's that bad. This is after five

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Speaker 2: years of you being governor, so everybody should get rid

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Speaker 2: of you. So that's the problem Hokeel faces. They have

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Speaker 2: a very tough time against Blakeman. It's her fifth State

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Speaker 2: of the State speech as governor. She'll now campaign all

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Speaker 2: over the place. She spent a lot of the speech

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Speaker 2: bashing Trump, throwing red meat to the blue state electorate.

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Speaker 2: But a lot of these issues, you know, especially with

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Speaker 2: ice and illegals, a lot of people want something done

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Speaker 2: about this. They just don't want it to go on

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Speaker 2: the way it is. Also, not everybody thinks ice is

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Speaker 2: that bad. Yeah, once in a while they might make

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Speaker 2: a mistake, but not always.

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Speaker 1: Yesterday they arrested an analyst at New York City Hall,

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Speaker 1: an analyst with legal work authorization.

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Speaker 3: Have you met an analyst lately?

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Speaker 1: I mean, they're really.

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Speaker 2: Not threatening, they're not the baddest of the bad when

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Speaker 2: they're just doing their jobs. Is that person really a threat? Well,

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Speaker 2: first of all, they don't even know if that's true.

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Speaker 2: Even if it is true, that's one case out of

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Speaker 2: how many people have they arrested, three hundred and fifty

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Speaker 2: thousand so far. The other thing is there was nothing

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Speaker 2: in the speech about crime. Can you imagine that? No

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Speaker 2: mention of crime. She's continued the crazy Cuomo ridiculous policies

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Speaker 2: of no bail, no jail, emptying out the prisons, all

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Speaker 2: that sort of stuff. You know, every time you go

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Speaker 2: into a drug store and everything's locked up, everything you know,

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Speaker 2: from anywhere else, from way out in the suburbs. When

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Speaker 2: they come into New York and they going to a

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Speaker 2: drug store, they can't believe a shampoo is locked up,

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Speaker 2: the soap is locked up, the aspen is locked everything's

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Speaker 2: locked up. They've never seen anything like it. And that's

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Speaker 2: because of Cuomo. That's because of Kathy Hochel and this

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Speaker 2: no bail, no gail. Now she's found another way to

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Speaker 2: lower crime, by the way, you just make some things

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Speaker 2: no longer a crime. Yeah, you just take certain categories

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Speaker 2: and make them no longer illegal. Gets your numbers lower.

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Speaker 2: But it was not a good speech by any stretch

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Speaker 2: of the imagination. So, hey, Kamala Harris just bought a

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Speaker 2: new house Malibu, eight million dollar mansion. She and Dougie there.

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Speaker 2: It's four thousand square feet. It's in a very very

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Speaker 2: very nice part of Malibu. Is she's certainly entitled to

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Speaker 2: do that. She made a lot of money on the book.

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Speaker 2: I imagine she gets a lot of money on speeches. She's

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Speaker 2: the world's worst speaker. But you know, to a left

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Speaker 2: wing audience, they don't care. They'll listen to they'll think

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Speaker 2: it's great. So, a new eight million dollar mansion. This

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Speaker 2: is just one of her many real estate holdings. So

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Speaker 2: the nurse's strike continues. This is pretty bad, this nurse's strike.

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Speaker 2: It's a big, big, strike. Now, Mam Donnie was out

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Speaker 2: there picketing with the nurses, which is a huge mistake

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Speaker 2: on his part, but that's part of being a little

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Speaker 2: kid who's never had a job, doesn't know anything about

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Speaker 2: this stuff. Normally, we've had nurses strikes before, but usually

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Speaker 2: it's the mayor who steps in and tries to settle

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Speaker 2: the thing. But Mam Donnie is out there on the

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Speaker 2: picket line with the nurses, so he can't be an

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Speaker 2: honest broker in this. It's a big problem. Now. You

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Speaker 2: hear the nurses complain about healthcare. Isn't that funny? The

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Speaker 2: nurses can't get a healthcare plan. That's how you know

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Speaker 2: our healthcare system is really messed up when the nurses

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Speaker 2: working in the hospital can't get decent healthcare. But the

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Speaker 2: union demands, I don't know about some of these. They

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Speaker 2: want a pay raise ten percent a year for three years.

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Speaker 2: That's thirty three percent over three years. That's a big

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Speaker 2: pay raise. How much do nurses make? You might be

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Speaker 2: surprised the average nurse's salary. What do you think it is? No,

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Speaker 2: the average nurses salary one hundred and sixty two thousand

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Speaker 2: a year to two hundred and seventy two thousand a year,

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Speaker 2: which is not bad. One of the things a're fighting for.

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Speaker 2: They don't want to have to contribute to their pensions,

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Speaker 2: which is but most private sector workers do that. Now,

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Speaker 2: the problem with this strike and if you settle, if

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Speaker 2: you overpay in wages, if you give away too much,

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Speaker 2: it affects the city's budget because a lot of these

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Speaker 2: nurses are working at city hospitals. It's not just north

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Speaker 2: Well or Wild Cornell or New York Presbyterian. It's not

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Speaker 2: just these private hospitals. But the nurse's contract will affect

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Speaker 2: all the city hospitals too and drive up their costs.

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Speaker 2: In these city hospitals are already in a lot of trouble.

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Speaker 2: PBS has announced, you're supposed to feel bad about this.

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Speaker 2: They've had to cancel the PBS news Weekend show. You

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Speaker 2: know they do newscasts on PBS. This is where they

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Speaker 2: got themselves into trouble. The idea of PBS, it was

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Speaker 2: originally called educational television, public broadcasting. It was things like

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Speaker 2: Sesame Street, educational shows, cultural shows, stuff you wouldn't normally

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Speaker 2: see on regular too. That was the whole idea of it.

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Speaker 2: Then now even there they got a little biased, a

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Speaker 2: little slanted, but that's okay, they're entitled. But then they

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Speaker 2: got into the news business doing newscasts, and they were

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Speaker 2: the most slanted, biased newscast. It was basically propaganda for

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Speaker 2: one side. Then they got these guys like Bill Moyers,

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Speaker 2: who so awful the slanted propaganda that was coming out

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Speaker 2: of Bill Moyer's So that's what led to the calls

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Speaker 2: for the funding to be cut. They shouldn't have been

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Speaker 2: doing that. Why were they in the news business. The

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Speaker 2: whole idea of PBS of public television stuff you can't

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Speaker 2: see anywhere else, stuff you can't see on regular television. Well,

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Speaker 2: obviously if you wanted to see a newscast, you could

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Speaker 2: see that every where you looked this newscast everywhere. There

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Speaker 2: was no need for PBS to do it none whatsoever.

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Speaker 2: It ended up costing them their funding. They still have

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Speaker 2: it during the week but PBS News Weekend, that's the

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Speaker 2: weekend version. It's final episode, and they were very dramatic

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Speaker 2: about it. They said, due to federal budget cuts, we

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Speaker 2: had to make the difficult decision. But first of all,

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Speaker 2: you got like five, no more than that, maybe seven

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Speaker 2: all news television Networks twenty four to seven. You've got

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Speaker 2: newscasts everywhere. Every city has all news radio, and we

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Speaker 2: got the talk radio which covers news. You've got everything.

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Speaker 2: There is no reason for PBS to ever be through

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Speaker 2: in news. That's why the Hey, speaking of PBS, there's

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Speaker 2: a very nice guy. He used to work with him

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Speaker 2: for him. Neil Shapiro ran Channel thirteen here in New

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Speaker 2: York in Channel twenty when he's stepping down, retiring, still

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Speaker 2: going to stay on as chairman emeritus, but a very

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Speaker 2: good guy. Now, the Clintons, what the hell is this

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Speaker 2: all about? The Clintons were asked to come in and

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Speaker 2: testify in a private session, not on camera, private talk

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Speaker 2: about the Epstein stuff, just explain it, and they sent

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Speaker 2: word they will refuse. They refuse to testify. And if

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Speaker 2: you refuse to testify when you're summoned to Congress, it's

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Speaker 2: contempt of Congress. You can go to prison for it.

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Speaker 2: Just ask Peter Navarro, just ask Steve Bannon. They've gone

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Speaker 2: to prison for this. Now Congress has to decide what

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Speaker 2: they'll do. They could make a criminal referral. If they

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Speaker 2: refer it, it goes to the DC Justice Department, the

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Speaker 2: local district attorney. And guess who that is. It's Janine Piro.

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Speaker 2: Now nobody remembers this, but the Clintons put years ago,

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Speaker 2: they put Janine Piro's husband in jail, Al Piro, who

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Speaker 2: was a top attorney and a very nice guy in Westchester.

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Speaker 2: And the reason they did that they were trying to

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Speaker 2: mess up the reputation of the Piros. Because remember that's

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Speaker 2: when Hillary wanted to run for Senate and it looked

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Speaker 2: like the main competitor that might be able to beat

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Speaker 2: her was Janine Piro. So they had to ruin the

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Speaker 2: reputation of the Piros. So they charged him. It was

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Speaker 2: some charge with it. Whenever he asked anybody in US

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Speaker 2: Attorney's office, what the hell is this charge? I said

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Speaker 2: it was from years ago. It doesn't mean anything. They

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Speaker 2: just drummed up something. But they got a conviction with it.

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Speaker 2: It was enough to make her drop out of the race,

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Speaker 2: so it was an awful thing. Pierro was later pardoned.

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Speaker 2: He's not a convicted fellow anymore and he's a good guy.

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Speaker 2: But you got to remember, I think that still haunts her,

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Speaker 2: and she would be the one prosecuting them. And I'm

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Speaker 2: sure they've thought about this now. James Comer is the

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Speaker 2: chairman of the committee. Clinton's have refused to testify as a.

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Speaker 4: Result of Bill Clinton not showing up for his lawful subpoena,

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Speaker 4: which again was voted on it unanimously by the committee

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Speaker 4: in a box partisan manner. We will move next week

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Speaker 4: in the House Oversight Committee mark up to hold former

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Speaker 4: President Clinton in contempt of Congress.

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Speaker 2: Yeah, that's a problem that it gets referred to Janine Piro. Now,

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Speaker 2: if you got nothing to hide, if you did nothing wrong,

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Speaker 2: why wouldn't you come in and testify, clear things up?

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Speaker 2: If you did nothing wrong, wouldn't you be happy to

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Speaker 2: come in and testify. I don't know. Now, Bill Clinton

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Speaker 2: may try arguing that there's a principal here, a next president,

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Speaker 2: the former president should not be forced to testify in

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Speaker 2: front of He'll argue that principle or something like that.

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Speaker 4: No one's accusing Bill Clinton of any wrong doing. We

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Speaker 4: just have questions, and that's why the Democrats voted along

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Speaker 4: with Republicans to subpoena Bill Clinton.

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Speaker 2: Yeah, now it would make sense to ask Bill Clinton

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Speaker 2: a lot of questions because we're talking about Donald Trump.

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Speaker 2: He knew Jeffrey Epstein in the beginning years ago, but

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Speaker 2: very briefly, and then cut him off, never spoke to

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Speaker 2: him again. But Clinton was with Jeffrey Epstein day and night,

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Speaker 2: all over the place, in a closer relationship to Jeffrey

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Speaker 2: Epstein than almost anybody. Epstein was the one that helped

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Speaker 2: start the Clinton Foundation, the Clinton Global Initiative. That's Epstein

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Speaker 2: and Clinton's are flying all over the world. And that

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Speaker 2: doesn't mean there was underage women. From what I know

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Speaker 2: of Epstein. I got to see Epstein a lot. I

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Speaker 2: stayed away from him, but I got to observe it

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Speaker 2: wasn't underage girls with everybody. If you liked that, he

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Speaker 2: had that. But if you were Bill Clinton and you

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Speaker 2: liked forty year old floozies, he would get you that.

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Speaker 2: So I don't think Clinton had anything to do with

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Speaker 2: any underage women, but he should come and testify. I

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Speaker 2: explained the whole thing. I was looking back on this.

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Speaker 2: I remember the last time I saw Epstein was it

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Speaker 2: was late June, the twenty third of June twenty nineteen.

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Speaker 2: I looked it up. We went to him. I was

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Speaker 2: at a party where Epstein was there. Actually it was

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Speaker 2: part of it was a movie premiere and he sat

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Speaker 2: like right in front of me, and then I saw

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Speaker 2: him in the party afterwards, and it was one week

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Speaker 2: later that he got arrested. It was I think July sixth,

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Speaker 2: twenty nineteen, arrested and that was the end of it.

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Speaker 2: Now twenty nineteen, Donald Trump was president, so he was

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Speaker 2: arrested by Donald Trump's Justice Department. Was that Bill bar

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Speaker 2: at the time, I don't know. You know, Bill Barr's

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Speaker 2: father actually had a close relationship with Jeffrey Epstein. So anyway,

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Speaker 2: it's all a tangled mess in the swamp. We'll take

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Speaker 2: some calls next. Eight hundred three to two one zero

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Speaker 2: seven ten is the number. Eight hundred three to two

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Speaker 2: one zero.

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Speaker 1: Blogged into Everything New York on the Voice of New

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Speaker 1: York Mark Simon on sevent Tenor.

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Speaker 2: Hey, let's take some calls. Eight hundred three to two

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Speaker 2: one zero seven ten is the number. Let's go to

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Speaker 2: Linda in Long Island. Linda, how you doing, hi?

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Speaker 5: Mark?

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Speaker 6: You know what they're really scared about is the Pony

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Speaker 6: Clinton Foundation. Years and years nobody's done anything about it.

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Speaker 6: They were stealing the money was meant for starving people.

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Speaker 6: And I was told that the allum. Anyway, the people

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Speaker 6: are in Haiti, Well, yeah, they.

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Speaker 2: Were very bad in Haiti. Listen. The Clinton Foundation stealing

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Speaker 2: the money, Well, the money's probably not going where you

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Speaker 2: think it's going. It's a weird structure. You know. If

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Speaker 2: you go to the website, it'll say the Clinton Global Initiative,

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Speaker 2: eighty nine percent of the money goes to the charity. Yeah,

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Speaker 2: well that's the Clinton Global Initiative. But if you check

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Speaker 2: into this, maybe they don't want to answer questions about this.

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Speaker 2: When the money's donated, like ninety seven percent of it

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Speaker 2: goes out of the Clinton Global Initiative and into all

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Speaker 2: these other things, the Clinton Foundation of Canada, the Clinton

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Speaker 2: Foundation of Mexico, the Clinton and that's where the funny

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Speaker 2: business might take place with the with the money, there's

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Speaker 2: ways to fudge it, so you could be right. They

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Speaker 2: might not want to answer questions about that. And it

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Speaker 2: was Jeffrey Epstein that had a big role in setting

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Speaker 2: up the Clinton Foundation, so maybe they don't want that

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Speaker 2: to become so public. Let's go to Dan and Queen's Dan.

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Speaker 2: How you doing, Good morning, Mark.

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Speaker 1: This denial of Somali organized crime Foruda Minnesota.

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Speaker 3: It's like when Hoover denied that there was no mafia

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Speaker 3: in the nineteen fifties in the US.

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Speaker 2: Well kind of, yeah. I mean, this happens when you

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Speaker 2: get the crazy left wing Democrats and think money goes missing.

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Speaker 2: It happened with the Blasio A billion dollars went missing,

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Speaker 2: happens all the time. It could happen with my Donnie,

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Speaker 2: even with Eric Adams there was some funny business money

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Speaker 2: and now a lot of times it's just that they're

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Speaker 2: such incompetent leaders, like this mayor of Minneapolis or a

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Speaker 2: mom Donnie type with no experience in government, so inexperienced,

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Speaker 2: so incompetent, that they just don't know what the hell's

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Speaker 2: going on, and everybody under them does all this stuff.

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Speaker 2: It's like the Fed with your own Powell. A couple

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Speaker 2: billion went missing when they rebuilt the building, they redid

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Speaker 2: the they rebuilt the whole Fed building. Trump said he

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Speaker 2: could have done it for twenty five million. They ended

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Speaker 2: up spending two and a half billion. Where did that

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Speaker 2: extra two billion go? Well, and it's most likely that

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Speaker 2: Powell's not a crook, just a total bungling incompetent, like

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Speaker 2: most of the government wasn't paying attention to anything and

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Speaker 2: everybody involves still everything. Let's go to Can in New

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Speaker 2: York City. Ken, how you doing?

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Speaker 5: Ken?

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Speaker 2: Are you there?

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Speaker 5: No?

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Speaker 2: Ken? H Let's go to Joel in Florida. Joel, how

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Speaker 2: you doing?

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Speaker 3: Good morning, Mark, I hope you're having a good day. Recently,

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Speaker 3: even this morning, it sounds like China's making overtures on

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Speaker 3: trying to do whatever they can to get a strong

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Speaker 3: foothold in Greenland. I'm just wondering if you might be

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Speaker 3: able to reach out to Gordon Chang it's some time

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Speaker 3: per season, preeminent China expert, and see what he might

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Speaker 3: think about all of this going on. Because Greenland and.

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Speaker 2: China planning to go out and have fun today, I

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Speaker 2: could cancel all that and just talk to Gordon Chang.

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Speaker 2: But now he's a nice guy. But well, obviously that's

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Speaker 2: one of the reasons. One of the main reasons that

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Speaker 2: we want Greenland is very important strategically military wise to

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Speaker 2: have Greenland. We have military assets there, are based there.

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Speaker 2: That's the most important thing. It would be crucial for

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Speaker 2: China to get a hold of it, Russia to get

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Speaker 2: a hold of it, and that's one of the main reasons.

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Speaker 2: There's minerals there, but the strategic military advantage is important.

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Speaker 6: You know.

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Speaker 2: It's the same thing with Venezuela. They don't talk much

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Speaker 2: about this, but there's a lot of oil in Venezuela.

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Speaker 2: There's twenty percent of the world's oil in Venezuela. There's

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Speaker 2: three hundred billion gallons of oil there. There's seventeen trillion

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Speaker 2: in oil there. Now, it's not that we want to

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Speaker 2: take the oil. It's that it's one of the main

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Speaker 2: sources of oil for China. So if we absolutely we

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Speaker 2: cut off, we cut off China from the oil and

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Speaker 2: put them in a very bad spot and gives us

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Speaker 2: tremendous leverage to negotiate with them on other things. So

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Speaker 2: a lot of this is a massive chess game that's

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Speaker 2: being played. Let's go to Tom in Point Pleasant, New Jersey. Tom,

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Speaker 2: how you doing.

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Speaker 5: I'm doing well, Mark. Thank you, Mark. I miss your

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Speaker 5: call ins with Regis philban I used to love to

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Speaker 5: listen to you, and I know you like to reminisce

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Speaker 5: about old TV movie people and performances. I was wondering

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Speaker 5: if you might consider maybe once a week, having a

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Speaker 5: ten minute colon about people would like to reminisce about

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Speaker 5: those type of performances and people I used to love

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Speaker 5: Joe Pine and Morton Downey Junior.

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Speaker 2: Marton Downey Junior. Oh, I gotta forgot about that nutty

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Speaker 2: guy he was.

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Speaker 5: Yeah, they were kind of interesting to listen to.

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Speaker 2: And yeah, well you can do that anytime you want.

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Speaker 2: Anytime we take calls, you can bring up anybody you want.

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Speaker 2: A lot of callers bring up somebody from the past.

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Speaker 2: Regis we lost five years ago. We lost him five

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Speaker 2: years ago, a great, great guy who was all over

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Speaker 2: New York City. Everybody misses Regis Morton Downey Junior. I

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Speaker 2: gotta be honest. He was a nice guy, but crazy,

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Speaker 2: totally crazy, complete chaos surrounded him at all times. Nobody

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Speaker 2: misses him, but Regis, we really really miss hey. When

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Speaker 2: we come back, John Carney will be with us, the

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Speaker 2: great economist and one of the smartest guys on earth.

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Speaker 2: If you want to know everything about how the economy

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Speaker 2: is doing, the FED, all that stuff, we'll get to

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Speaker 2: that next. John Carney from Breitbart Business coming up next

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Speaker 2: on seven to ten wo R New York. Mark Simone

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Speaker 2: war Well, we'd like to bring you the smartest people

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Speaker 2: are on Earth, Johnny Brilliant writer of nobody Better on

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Speaker 2: Business the economy, John Carney's columns and his work. You

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00:23:05,720 --> 00:23:08,680
Speaker 2: can see it in bright Bart Business Daily. You should

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00:23:08,680 --> 00:23:12,240
Speaker 2: subscribe to it, read it every day bright Bart Business Daily.

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Speaker 2: John Carney, how.

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Speaker 1: You doing very good? Thanks for having me, Mark.

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Speaker 2: Hey at your own Powell, what do you think goes

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Speaker 2: through his mind? Why doesn't he just say to himself,

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Speaker 2: let me step down and get the hell away from

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Speaker 2: all this?

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Speaker 1: You know, that's a good question. He only has a

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Speaker 1: few more months as chairman, and he's decided to make

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Speaker 1: those as explosive as possible rather than sort of quietly

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Speaker 1: ride out into the sunset. I think he's just what

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Speaker 1: we're seeing is he's taking in this very personally. Trump

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Speaker 1: has been very critical of him, and Powell has decided

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Speaker 1: I guess that he's had enough. Unfortunately, Pwell, actually, although

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Speaker 1: his chairmanship ends in May, he actually has two more

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Speaker 1: years to go on as governor term. Normally a chairman

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Speaker 1: steps down from the governor's seat. But Howe, I think

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Speaker 1: is going to end up sticking around, in part just

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Speaker 1: to sort of put a stick in Trump's eye because

430
00:24:13,480 --> 00:24:14,520
Speaker 1: he's so upset.

431
00:24:14,680 --> 00:24:17,840
Speaker 2: Now. A trouble of point a new fed chairman and

432
00:24:17,880 --> 00:24:21,560
Speaker 2: then Powell remains on the board, but as a former chairman,

433
00:24:21,720 --> 00:24:23,879
Speaker 2: he can wield a lot of influence on the votes,

434
00:24:23,960 --> 00:24:24,720
Speaker 2: on the decisions.

435
00:24:25,359 --> 00:24:30,320
Speaker 1: Yeah, that's right. That's why the chairman have tended to

436
00:24:30,440 --> 00:24:33,720
Speaker 1: step down. I mean almost all of them have for

437
00:24:33,800 --> 00:24:37,240
Speaker 1: the last seventy five years. The last time somebody didn't

438
00:24:37,240 --> 00:24:41,680
Speaker 1: step down when they left the chairmanship was in nineteen

439
00:24:41,800 --> 00:24:45,080
Speaker 1: forty eight, so it's been a long time since this happened.

440
00:24:45,560 --> 00:24:48,680
Speaker 1: The reason why they stepped down is because you're clearly

441
00:24:49,160 --> 00:24:52,760
Speaker 1: undermining the new chairman when the old chairman, who you know,

442
00:24:52,880 --> 00:24:55,800
Speaker 1: ran things, who knows everybody on the FED, who's been

443
00:24:55,880 --> 00:24:59,880
Speaker 1: dealing with both the half officials and the entire staff

444
00:25:00,119 --> 00:25:04,479
Speaker 1: for years. In Palace case, he's served two terms. If

445
00:25:04,520 --> 00:25:08,080
Speaker 1: he stays around, he will essentially become the shadow chairman.

446
00:25:09,080 --> 00:25:13,280
Speaker 1: It will damage the Fed's credibility and it will hurt

447
00:25:13,280 --> 00:25:18,119
Speaker 1: it institutionally. He really should go, but there it seems

448
00:25:18,119 --> 00:25:22,520
Speaker 1: increasingly likely that he's going to stick around and become

449
00:25:23,280 --> 00:25:28,720
Speaker 1: sort of the shadow chairman of the FED, or at

450
00:25:28,800 --> 00:25:32,200
Speaker 1: least at least until through twenty twenty eight. January twenty

451
00:25:32,320 --> 00:25:35,440
Speaker 1: twenty eight is when his final term will end.

452
00:25:35,640 --> 00:25:35,880
Speaker 6: Wow.

453
00:25:36,720 --> 00:25:40,879
Speaker 2: John Carne Breitbart Business. By the way, the daily newsletter

454
00:25:41,000 --> 00:25:43,520
Speaker 2: is excellent. Make sure you sign up for that Breitbart

455
00:25:43,720 --> 00:25:48,879
Speaker 2: daily newsletter, the Business Digest. Now President Trump will appoint

456
00:25:48,880 --> 00:25:50,439
Speaker 2: a new FED chairman. We don't know who it's going

457
00:25:50,520 --> 00:25:52,240
Speaker 2: to be. Can we be sure his name will be

458
00:25:52,320 --> 00:25:55,040
Speaker 2: Kevin Well?

459
00:25:56,119 --> 00:26:00,480
Speaker 1: This actually has gotten more complicated reasons because we've had

460
00:26:00,520 --> 00:26:05,680
Speaker 1: a couple Senators say that they will that until this

461
00:26:06,160 --> 00:26:09,119
Speaker 1: fight with the Justice Department between the Justice Department and

462
00:26:09,160 --> 00:26:14,160
Speaker 1: the Fed is resolved, that they're going to oppose any nomination,

463
00:26:14,560 --> 00:26:17,800
Speaker 1: that they won't confirm any of Trump's nominees to the FED.

464
00:26:18,600 --> 00:26:21,240
Speaker 1: What that could mean is that Trump would have to

465
00:26:21,440 --> 00:26:25,960
Speaker 1: Trump still gets to pick somebody. Powell's term will end

466
00:26:26,040 --> 00:26:28,760
Speaker 1: when it ends in May, he will no longer be chairman,

467
00:26:28,760 --> 00:26:32,199
Speaker 1: even if they don't confirm a new one. It's unclear

468
00:26:32,480 --> 00:26:35,399
Speaker 1: exactly what happens in that case. Would the FED just

469
00:26:35,440 --> 00:26:38,760
Speaker 1: have no chairman? The way back in nineteen seventy eight,

470
00:26:38,840 --> 00:26:42,280
Speaker 1: the Carter administration looked into this very question and they

471
00:26:42,280 --> 00:26:46,880
Speaker 1: determined that the president gets to a point a acting

472
00:26:47,000 --> 00:26:49,800
Speaker 1: FED chairman, but it has to be somebody who's already

473
00:26:49,840 --> 00:26:53,200
Speaker 1: on the FED. So Trump has three appointees there now,

474
00:26:53,320 --> 00:26:58,120
Speaker 1: Christopher Waller, Michelle Bowman, and Steven Myron, so he could

475
00:26:58,160 --> 00:27:01,399
Speaker 1: pick one of them and make him the acting chair.

476
00:27:03,520 --> 00:27:07,160
Speaker 1: Right now, Kevin Hassett and Kevin worsh are not on

477
00:27:07,200 --> 00:27:09,520
Speaker 1: the FED. They could not be picked if that was

478
00:27:09,560 --> 00:27:13,119
Speaker 1: the case, if the Senators were trying to block And

479
00:27:13,160 --> 00:27:17,080
Speaker 1: there's a lot of skepticism now given this fight with

480
00:27:17,200 --> 00:27:23,000
Speaker 1: the Justice Department, whether Kevin Hassett could get confirmed. He's

481
00:27:23,040 --> 00:27:25,800
Speaker 1: seen as very close to Trump. He is Trump's top

482
00:27:25,840 --> 00:27:31,320
Speaker 1: economic advisor in the White House, and including Republican senators

483
00:27:31,359 --> 00:27:33,560
Speaker 1: may push back and say, we don't want somebody that

484
00:27:33,720 --> 00:27:36,240
Speaker 1: close to the president getting the nomination.

485
00:27:36,480 --> 00:27:39,359
Speaker 2: Well, just something about the FED has to be totally independent,

486
00:27:39,440 --> 00:27:42,399
Speaker 2: totally separate. Is that always been the case? Is that

487
00:27:42,480 --> 00:27:43,200
Speaker 2: really true?

488
00:27:44,280 --> 00:27:50,280
Speaker 1: Yeah, it's not really true. Actually, historically the FED hasn't

489
00:27:50,359 --> 00:27:53,919
Speaker 1: been totally independent. Sometimes we're good, sometimes we're bad. It

490
00:27:54,040 --> 00:27:56,399
Speaker 1: used to be by the way that the Treasury Secretary

491
00:27:56,600 --> 00:27:59,520
Speaker 1: sat on the board of the Federal Reserve. That got

492
00:27:59,640 --> 00:28:07,720
Speaker 1: changed decades ago. But the and typically the FED hasn't

493
00:28:07,760 --> 00:28:11,320
Speaker 1: actually usually been at odds. When the President they try

494
00:28:11,400 --> 00:28:14,320
Speaker 1: to help the economy grow, they don't get in the

495
00:28:14,320 --> 00:28:19,960
Speaker 1: way of presidential policy. Jerdan Powell is actually probably compromised

496
00:28:20,000 --> 00:28:22,639
Speaker 1: a bit of the fed's independence by being so vocally

497
00:28:23,280 --> 00:28:27,680
Speaker 1: an opponent of the tariffs. You know, Trump's signature policy

498
00:28:29,240 --> 00:28:33,480
Speaker 1: has been under fire and criticized by the FED. That's unusual.

499
00:28:34,359 --> 00:28:37,320
Speaker 1: The last time it happened really was probably Arthur Burns

500
00:28:38,720 --> 00:28:41,240
Speaker 1: when Jimmy Carter came in, and Burns was critical of

501
00:28:41,280 --> 00:28:47,280
Speaker 1: the Democrats economic plans. But Burns actually was probably not

502
00:28:47,440 --> 00:28:52,160
Speaker 1: independent enough from the Nixon administration and kept rates low,

503
00:28:52,560 --> 00:28:56,680
Speaker 1: helping spur inflation back then. So it's not really true

504
00:28:56,680 --> 00:28:59,040
Speaker 1: that they're always independent. It would probably be good to

505
00:28:59,080 --> 00:29:02,520
Speaker 1: have them be independent, but not in a way that

506
00:29:02,680 --> 00:29:06,880
Speaker 1: interferes with the political process. They need to stay keep

507
00:29:07,000 --> 00:29:09,800
Speaker 1: their distance from that. Alan Greenspan was good at keeping

508
00:29:09,800 --> 00:29:13,280
Speaker 1: his distance of that. Frankly, soon Is Bernanki and even

509
00:29:13,440 --> 00:29:17,280
Speaker 1: Yelling were better than what Powell has done, which has

510
00:29:17,360 --> 00:29:20,479
Speaker 1: really been to enmesh himself in the politics of the day,

511
00:29:20,520 --> 00:29:21,400
Speaker 1: which is a mistake.

512
00:29:21,640 --> 00:29:25,760
Speaker 2: Yeah, he says he's like a financial fauci. Isn't he

513
00:29:25,800 --> 00:29:26,120
Speaker 2: kind of.

514
00:29:28,320 --> 00:29:32,040
Speaker 1: Love that idea? He really so. One thing that you

515
00:29:32,400 --> 00:29:36,040
Speaker 1: can notice about how he thinks about his role is

516
00:29:36,120 --> 00:29:40,680
Speaker 1: when Ben Bernanke began doing press conferences, he only did

517
00:29:40,680 --> 00:29:43,800
Speaker 1: them every other meeting, and he did them sitting behind

518
00:29:43,840 --> 00:29:46,400
Speaker 1: the desk. It was like going to office hours like

519
00:29:46,440 --> 00:29:51,880
Speaker 1: an economics professor. Powell changes that, he does them every meeting,

520
00:29:52,200 --> 00:29:54,760
Speaker 1: and he does it standing up at a podium as

521
00:29:54,760 --> 00:29:59,360
Speaker 1: if he were an elected official. That I think was intentional.

522
00:29:59,760 --> 00:30:01,920
Speaker 1: It's it made him a lot more visible and frankly,

523
00:30:02,160 --> 00:30:06,040
Speaker 1: it makes him a bigger part of the political process.

524
00:30:06,080 --> 00:30:09,640
Speaker 1: Which again, if the FED wants to preserve its independence,

525
00:30:09,680 --> 00:30:11,840
Speaker 1: it needs to stay out of politics. It needs to

526
00:30:11,880 --> 00:30:15,600
Speaker 1: stay in its own lane. The next guy should probably

527
00:30:16,400 --> 00:30:18,680
Speaker 1: not hold a press conference every meeting, or at the

528
00:30:18,800 --> 00:30:22,960
Speaker 1: very least go back to the days where Yellen and

529
00:30:23,000 --> 00:30:27,160
Speaker 1: Bernank did it from behind a desk. Don't try to

530
00:30:27,200 --> 00:30:30,400
Speaker 1: stand up there and look like your press conference is,

531
00:30:30,640 --> 00:30:32,880
Speaker 1: you know, a White House press conference, which is what

532
00:30:32,920 --> 00:30:33,440
Speaker 1: they look like.

533
00:30:33,560 --> 00:30:35,800
Speaker 2: Hey, John Cannie, WILLI on a minute left. But for

534
00:30:35,840 --> 00:30:39,080
Speaker 2: somebody might say to themselves, well, the president wants rates lowered.

535
00:30:39,400 --> 00:30:40,959
Speaker 2: If the economy is going to do so well, if

536
00:30:41,000 --> 00:30:43,200
Speaker 2: it's booming, do you need rates lowered?

537
00:30:45,680 --> 00:30:48,520
Speaker 1: The weakest part of the economy is the right now

538
00:30:49,160 --> 00:30:52,400
Speaker 1: is the part that is most exposed to interest rates,

539
00:30:52,400 --> 00:30:55,920
Speaker 1: which is the housing market. We probably need rates lower

540
00:30:56,000 --> 00:30:58,640
Speaker 1: to unfreeze the housing market. A lot of people have

541
00:30:58,760 --> 00:31:01,200
Speaker 1: the situation where they are. They got a low interest

542
00:31:01,280 --> 00:31:04,920
Speaker 1: rate mortgage back during the pandemic. They might want to

543
00:31:05,040 --> 00:31:07,040
Speaker 1: sell today, but they would have to trade into a

544
00:31:07,080 --> 00:31:09,640
Speaker 1: much higher interest rate mortgage, so they feel locked in.

545
00:31:10,200 --> 00:31:14,040
Speaker 1: That's my very low supply of existing homes on the market,

546
00:31:14,440 --> 00:31:16,920
Speaker 1: and that's pushed up prices a lot. We may get

547
00:31:16,960 --> 00:31:19,280
Speaker 1: some if we bring rates down. I think we'll get

548
00:31:19,280 --> 00:31:20,160
Speaker 1: some resolution to.

549
00:31:20,160 --> 00:31:23,240
Speaker 2: That, all right. The brilliant John Carney. Read him every

550
00:31:23,280 --> 00:31:26,520
Speaker 2: day bright Bart Business Digest and make sure you sign

551
00:31:26,600 --> 00:31:30,200
Speaker 2: up for his daily newsletter. It's brilliant stuff every day

552
00:31:30,240 --> 00:31:34,560
Speaker 2: bright Bart Business Digest, the daily newsletter. John Carney, thanks

553
00:31:34,640 --> 00:31:35,360
Speaker 2: for being with us.

554
00:31:36,360 --> 00:31:37,480
Speaker 6: Thanks for having me Mark, I.

555
00:31:37,720 --> 00:31:40,960
Speaker 2: Take care, hey, everybody. Also, don't forget Buck and Clay

556
00:31:41,000 --> 00:31:43,200
Speaker 2: at noon today. I love their show noon to three

557
00:31:43,280 --> 00:31:46,320
Speaker 2: every day, and then at three o'clock they'll most listen

558
00:31:46,360 --> 00:31:49,280
Speaker 2: to radio show in the world, Sean Hannity, Jesse Kelly

559
00:31:49,320 --> 00:31:51,800
Speaker 2: at six and every night now we've got Jimmy Fail.

560
00:31:51,920 --> 00:31:54,479
Speaker 2: It's fascinating, it's funny, it's a great show every night

561
00:31:54,520 --> 00:31:58,680
Speaker 2: at nine, seven to ten. Wr set Up said on

562
00:31:58,680 --> 00:32:02,440
Speaker 2: the iHeart Radio app to hear Mark live.

563
00:32:02,640 --> 00:32:06,280
Speaker 4: Set another for Mark's podcast to hear him anytime.

564
00:32:06,920 --> 00:32:10,719
Speaker 1: Now, back to Mark Simone on woar.

565
00:32:13,240 --> 00:32:15,640
Speaker 2: Well, in the next hour, let's see, we'll get to

566
00:32:15,800 --> 00:32:20,480
Speaker 2: the Supreme Court. They're gonna rule on men and women's sports.

567
00:32:21,240 --> 00:32:24,760
Speaker 2: You know, I mean, I said this yesterday. I played

568
00:32:24,760 --> 00:32:27,080
Speaker 2: football in high school. I was good. I wasn't great.

569
00:32:27,120 --> 00:32:30,120
Speaker 2: I was okay, I did okay. If they had let

570
00:32:30,160 --> 00:32:32,160
Speaker 2: me play against the women, I would have had the

571
00:32:32,160 --> 00:32:34,320
Speaker 2: most incredible rereck. I would have been Tom Brady. I

572
00:32:34,320 --> 00:32:38,120
Speaker 2: would have been the star quarterback. It's a problem if

573
00:32:38,160 --> 00:32:42,120
Speaker 2: you play with men a football team, they're all bigger

574
00:32:42,160 --> 00:32:44,400
Speaker 2: than you and they knock you down immediately. If you're

575
00:32:44,440 --> 00:32:48,840
Speaker 2: playing with a bunch of women, you can just do

576
00:32:49,040 --> 00:32:53,400
Speaker 2: much better. So it's obviously insane. Supreme Court, I think

577
00:32:53,440 --> 00:32:55,760
Speaker 2: we'll rule that. Well, we'll get to this in the

578
00:32:55,760 --> 00:33:00,720
Speaker 2: next hour. Also, we'll get to Minnesota and all the

579
00:33:00,760 --> 00:33:05,000
Speaker 2: crazy left wing, childish kooks, the unhinged left in Minnesota,

580
00:33:05,440 --> 00:33:07,360
Speaker 2: and a lot more coming up right after the news.

581
00:33:07,480 --> 00:33:10,480
Speaker 2: I'm here every day ten to noon or listen to anytime.

582
00:33:10,520 --> 00:33:13,360
Speaker 2: Get the podcast back after the News on seven to ten,

583
00:33:13,640 --> 00:33:14,560
Speaker 2: Woir