1 00:00:00,120 --> 00:00:03,960 Speaker 1: Six one seven two six six sixty eight sixty eight 2 00:00:04,320 --> 00:00:08,360 Speaker 1: is the number. Okay, Mike, are we are we having 3 00:00:08,440 --> 00:00:10,280 Speaker 1: any technical difficulties? 4 00:00:15,080 --> 00:00:16,840 Speaker 2: Okay, We're now joined. 5 00:00:16,880 --> 00:00:21,000 Speaker 1: It's my distinct honor and privilege to be joined by 6 00:00:21,400 --> 00:00:26,200 Speaker 1: Mark Cricorian. He is the executive director of the Center 7 00:00:26,360 --> 00:00:31,080 Speaker 1: for Immigration Studies. I love his group. I read their 8 00:00:31,120 --> 00:00:34,960 Speaker 1: stuff all the time. I've been watch reading Mark for many, 9 00:00:35,000 --> 00:00:38,120 Speaker 1: many years. He is in Boston over the next couple 10 00:00:38,120 --> 00:00:42,920 Speaker 1: of days talking at several conferences, several college campuses on 11 00:00:43,000 --> 00:00:47,400 Speaker 1: the issue of illegal immigration. In particular, Mark, thank you 12 00:00:47,520 --> 00:00:49,760 Speaker 1: so much for coming on the Kooner Report. 13 00:00:50,159 --> 00:00:51,159 Speaker 2: How are you. 14 00:00:52,479 --> 00:00:54,440 Speaker 3: I'm fine, Thanks for having me, glad to be here. 15 00:00:55,040 --> 00:00:58,480 Speaker 1: Uh Mark, I want to obviously talk to you about 16 00:00:58,960 --> 00:01:02,240 Speaker 1: the issue of the Chinese student visas that Trump now 17 00:01:02,280 --> 00:01:05,720 Speaker 1: says he wants to allow into our country. But before 18 00:01:05,760 --> 00:01:09,560 Speaker 1: I do, we're talking about the fifty year mortgage. Is 19 00:01:09,600 --> 00:01:13,039 Speaker 1: it a good idea bad idea? Obviously that's not your lane. 20 00:01:13,680 --> 00:01:16,520 Speaker 1: But I want to ask you, in terms of driving 21 00:01:16,600 --> 00:01:20,080 Speaker 1: up the cost of rent, driving up the cost of 22 00:01:20,160 --> 00:01:26,880 Speaker 1: home values housing, how pivotal has this onslaught and invasion 23 00:01:27,080 --> 00:01:30,679 Speaker 1: of illegal immigration been when it comes to the cost 24 00:01:30,800 --> 00:01:34,000 Speaker 1: of home buying, housing and rent. 25 00:01:35,040 --> 00:01:37,839 Speaker 3: There's no question it's played a significant role. In fact, 26 00:01:37,959 --> 00:01:42,880 Speaker 3: the Federal Housing and Urban Development Department apparently is looking 27 00:01:42,880 --> 00:01:46,679 Speaker 3: into it and preparing some research on it. And what 28 00:01:47,680 --> 00:01:51,200 Speaker 3: we've found is that it seems, among other things, that 29 00:01:52,280 --> 00:02:01,320 Speaker 3: high levels of immigration end up reducing fertility using childbirths 30 00:02:01,400 --> 00:02:06,800 Speaker 3: birth rates because of the way it increases housing costs, rent, 31 00:02:06,960 --> 00:02:10,480 Speaker 3: and you know, the housing prices because especially over what 32 00:02:10,520 --> 00:02:13,160 Speaker 3: we saw over the past four years or the four 33 00:02:13,240 --> 00:02:17,440 Speaker 3: years of Biden, was such an enormous number of people 34 00:02:17,919 --> 00:02:21,520 Speaker 3: coming in so quickly illegally being let in by the 35 00:02:21,560 --> 00:02:28,239 Speaker 3: Biden administration that there's no way that any realistic projection 36 00:02:28,480 --> 00:02:32,240 Speaker 3: of home construction could ever possibly keep up with that. 37 00:02:32,880 --> 00:02:37,680 Speaker 3: And so you know, if there's you know, more demand 38 00:02:37,760 --> 00:02:40,560 Speaker 3: than and supply doesn't grow enough, then prices go up. 39 00:02:40,560 --> 00:02:43,480 Speaker 3: It's just that's you know, that's economics one oh one. 40 00:02:44,000 --> 00:02:46,600 Speaker 3: So you know, what, what did you expect was going 41 00:02:46,680 --> 00:02:50,600 Speaker 3: to happen? Letting in eight or ten million maybe more. 42 00:02:51,040 --> 00:02:53,600 Speaker 3: Our guest is eight or ten million people that Biden 43 00:02:53,680 --> 00:02:58,360 Speaker 3: illegally led into the country, And you know, there's all 44 00:02:58,440 --> 00:03:02,680 Speaker 3: kinds of limits on home can instruction. Big cities are 45 00:03:02,720 --> 00:03:04,880 Speaker 3: already big, you know, do they spread out even more? 46 00:03:04,919 --> 00:03:07,679 Speaker 3: Those people all have to live somewhere, and inevitably it 47 00:03:07,760 --> 00:03:10,480 Speaker 3: drives up rents and housing prices. There's no way around 48 00:03:10,520 --> 00:03:12,120 Speaker 3: that mark. 49 00:03:12,200 --> 00:03:15,280 Speaker 1: Before I get to the issue of Chinese student visas, 50 00:03:15,919 --> 00:03:18,280 Speaker 1: I want to ask you a separate question on regarding 51 00:03:18,320 --> 00:03:19,160 Speaker 1: illegal immigration. 52 00:03:20,040 --> 00:03:21,679 Speaker 2: One of the issues now. 53 00:03:21,639 --> 00:03:25,720 Speaker 1: That the left, the Democrats, especially these sanctuary city mayors 54 00:03:25,880 --> 00:03:29,920 Speaker 1: here Michelle Wou in Boston, let's just go right to her. 55 00:03:30,680 --> 00:03:34,600 Speaker 1: They say that what Trump and Ice are doing is 56 00:03:34,800 --> 00:03:39,680 Speaker 1: violating the due process rights of these illegals when they 57 00:03:39,760 --> 00:03:44,560 Speaker 1: send in Ice into these sanctuary cities and raid after raid, 58 00:03:45,200 --> 00:03:48,000 Speaker 1: grab them, detain them, and deport them. 59 00:03:48,640 --> 00:03:51,520 Speaker 2: What say you, There. 60 00:03:51,360 --> 00:03:56,720 Speaker 3: Are in fact due process rights for illegal immigrants in 61 00:03:56,840 --> 00:04:00,280 Speaker 3: criminal matters. It's the same as anybody else. If you're 62 00:04:00,360 --> 00:04:03,720 Speaker 3: arrested for a crime, the comp has to read you 63 00:04:03,800 --> 00:04:06,800 Speaker 3: the same miranda warnings. You get a free lawyer if 64 00:04:06,840 --> 00:04:09,520 Speaker 3: you can't afford it. All that stuff is the same, 65 00:04:09,680 --> 00:04:13,200 Speaker 3: doesn't matter what your legal status is. But deportation is 66 00:04:13,240 --> 00:04:16,320 Speaker 3: not a criminal matter. It's sending you back to the 67 00:04:16,360 --> 00:04:18,599 Speaker 3: country you're supposed to be in because you're not supposed 68 00:04:18,640 --> 00:04:22,720 Speaker 3: to be here, and so the Supreme Court has said, literally, 69 00:04:23,400 --> 00:04:27,240 Speaker 3: due process in those kind of questions is whatever Congress 70 00:04:27,240 --> 00:04:30,520 Speaker 3: says it is. And every one of these illegal immigrants 71 00:04:30,520 --> 00:04:34,240 Speaker 3: who has been arrested by ICE has gotten the legally 72 00:04:34,320 --> 00:04:38,360 Speaker 3: required due process, which is limited in some cases more 73 00:04:38,400 --> 00:04:41,280 Speaker 3: extensive than others. Is a whole body of law here. 74 00:04:41,680 --> 00:04:45,919 Speaker 3: But nobody is just being grabbed up and contrary to 75 00:04:46,000 --> 00:04:49,279 Speaker 3: the rules, being sent back to their home country. That 76 00:04:49,400 --> 00:04:53,080 Speaker 3: just doesn't happen. And the critics saying that are either 77 00:04:53,200 --> 00:04:55,640 Speaker 3: just making it up, they know they're lying, or they 78 00:04:55,880 --> 00:04:58,279 Speaker 3: more likely they just have no idea what they're talking about. 79 00:04:58,839 --> 00:04:59,320 Speaker 2: Interesting. 80 00:04:59,520 --> 00:05:03,279 Speaker 1: Interesting, Okay, Mark, before I want to obviously ask you 81 00:05:03,320 --> 00:05:05,560 Speaker 1: why you're in Boston and what you're going to be 82 00:05:05,600 --> 00:05:08,880 Speaker 1: talking about on these college campuses, But just before I do, 83 00:05:09,480 --> 00:05:11,960 Speaker 1: President Trump now, and he's getting a lot of pushback 84 00:05:12,000 --> 00:05:15,840 Speaker 1: from many within MAGA in his base, now says he 85 00:05:15,880 --> 00:05:19,560 Speaker 1: wants to bring in about six hundred thousand Chinese students 86 00:05:20,080 --> 00:05:24,120 Speaker 1: on these student visas. He says, the reason we need 87 00:05:24,160 --> 00:05:29,919 Speaker 1: to keep our university and college system vibrant, profitable, making money, 88 00:05:30,200 --> 00:05:32,600 Speaker 1: and the only way to do that is to continue 89 00:05:32,640 --> 00:05:36,880 Speaker 1: to keep the pipeline of foreign students, including Chinese students 90 00:05:37,000 --> 00:05:39,919 Speaker 1: who pay full freight coming into the United States. 91 00:05:40,480 --> 00:05:42,920 Speaker 2: Good idea, Bad idea? What say you? 92 00:05:44,080 --> 00:05:49,080 Speaker 3: Terrible idea? First of all, there's no policy change that's 93 00:05:49,160 --> 00:05:52,320 Speaker 3: required for this, because there's already no limit in the 94 00:05:52,400 --> 00:05:55,480 Speaker 3: law for the number of foreign students who can come in, 95 00:05:55,560 --> 00:05:59,920 Speaker 3: and no limit for any particular university in how many 96 00:06:00,080 --> 00:06:02,919 Speaker 3: or what percentage of foreign students they can take. And 97 00:06:02,960 --> 00:06:08,039 Speaker 3: in Chinese are the largest group of foreign students. And frankly, 98 00:06:08,720 --> 00:06:11,919 Speaker 3: you know we are, we have been and continue to 99 00:06:12,040 --> 00:06:17,960 Speaker 3: basically be training China's future elite to defeat US. I mean, 100 00:06:18,000 --> 00:06:22,760 Speaker 3: it's crazy. And the rationale the President gave is that 101 00:06:22,800 --> 00:06:25,960 Speaker 3: if we didn't have all these foreign students, then a 102 00:06:25,960 --> 00:06:29,200 Speaker 3: lot of colleges would go out of business. Well there's 103 00:06:29,240 --> 00:06:33,000 Speaker 3: two problems there. First of all, there's lots of especially 104 00:06:33,040 --> 00:06:37,640 Speaker 3: for profit colleges, but not just those whose business model 105 00:06:38,240 --> 00:06:42,000 Speaker 3: is based on bringing in foreign students. Well, sorry, that's 106 00:06:42,160 --> 00:06:46,839 Speaker 3: you know, they're essentially what they call visa mills. They're 107 00:06:46,839 --> 00:06:51,120 Speaker 3: a way to buy access to the United States. And 108 00:06:51,480 --> 00:06:56,880 Speaker 3: you know, why would we have universities be essentially the 109 00:06:56,920 --> 00:07:00,800 Speaker 3: immigration gateways into the United States. And the other thing 110 00:07:00,920 --> 00:07:04,000 Speaker 3: is a lot of the universities. In fact, I mean 111 00:07:04,080 --> 00:07:07,280 Speaker 3: this is especially true at the highest level of universities 112 00:07:07,320 --> 00:07:11,840 Speaker 3: and in the non stem, non science and math fields. 113 00:07:12,520 --> 00:07:19,040 Speaker 3: They are purveyors of really terrible anti American poison. We 114 00:07:19,120 --> 00:07:22,840 Speaker 3: saw that with all those pro Hamas demonstrations on campuses, 115 00:07:23,440 --> 00:07:26,000 Speaker 3: a lot of those people were foreign students. Why would 116 00:07:26,080 --> 00:07:30,680 Speaker 3: we be trying to get more of that? And one 117 00:07:30,760 --> 00:07:36,320 Speaker 3: last point is that every university, everyone including private schools, 118 00:07:36,840 --> 00:07:42,160 Speaker 3: are massively subsidized by the taxpayer, and so if they're 119 00:07:42,200 --> 00:07:46,720 Speaker 3: being subsidized, the point should be to promote the interests 120 00:07:46,760 --> 00:07:51,080 Speaker 3: of the American people, training American young people, training our 121 00:07:51,160 --> 00:07:55,240 Speaker 3: future elite. And a small number of foreign students can 122 00:07:55,280 --> 00:07:59,120 Speaker 3: be beneficial. It is it helps American kids kind of 123 00:07:59,120 --> 00:08:02,239 Speaker 3: expand theirs and see that there's different kinds of people 124 00:08:02,240 --> 00:08:07,000 Speaker 3: in the world. But hundreds of thousands of foreign students actually, 125 00:08:07,080 --> 00:08:08,480 Speaker 3: I mean when you add it up, of all the 126 00:08:08,520 --> 00:08:10,640 Speaker 3: people who are here, it's probably more like a million 127 00:08:10,720 --> 00:08:14,160 Speaker 3: foreign students. There's no excuse for that. That is not 128 00:08:14,280 --> 00:08:19,840 Speaker 3: helping the United States. That's helping especially China, and helping 129 00:08:19,880 --> 00:08:24,720 Speaker 3: these Ivy League universities that frankly don't see themselves as 130 00:08:24,800 --> 00:08:28,480 Speaker 3: having a mission to support and promote the well being 131 00:08:28,640 --> 00:08:30,560 Speaker 3: of the United States specifically. 132 00:08:30,840 --> 00:08:32,880 Speaker 2: Oh amen, brother, I mean you hit the nail right 133 00:08:32,920 --> 00:08:33,400 Speaker 2: on the head. 134 00:08:33,880 --> 00:08:34,040 Speaker 4: Mark. 135 00:08:34,080 --> 00:08:36,079 Speaker 1: We've got a couple of minutes left. By the way, 136 00:08:36,120 --> 00:08:40,119 Speaker 1: we are talking with Mark Krekorian. He is the executive 137 00:08:40,200 --> 00:08:44,080 Speaker 1: director of the Center for Immigration Studies. They do absolutely 138 00:08:44,160 --> 00:08:48,160 Speaker 1: dynamite work. I love their stuff. Mark, You're in Boston 139 00:08:48,200 --> 00:08:50,760 Speaker 1: for a couple of days, a couple of conferences. 140 00:08:51,280 --> 00:08:55,160 Speaker 2: Which universities will you be speaking to? And one what topics? 141 00:08:56,200 --> 00:08:59,040 Speaker 3: Well, it's supposed to be speaking at BU yesterday, but 142 00:08:59,240 --> 00:09:04,040 Speaker 3: apparently because of you know, death threats and security problems 143 00:09:04,040 --> 00:09:06,839 Speaker 3: I don't think directed to me, but generally speaking, they 144 00:09:06,880 --> 00:09:10,400 Speaker 3: had to cancel that. So but I'm also speaking at Harvard. 145 00:09:10,480 --> 00:09:14,680 Speaker 3: There's a conference on German American Relations and so there's 146 00:09:14,720 --> 00:09:17,959 Speaker 3: a panel on you know, what are the different challenges 147 00:09:18,040 --> 00:09:20,720 Speaker 3: the Germany and the US face with regard to immigration, 148 00:09:20,800 --> 00:09:23,360 Speaker 3: and so I'm going to be speaking on that panel. 149 00:09:23,640 --> 00:09:25,680 Speaker 3: And it's it's like you have to pay to get 150 00:09:25,679 --> 00:09:27,679 Speaker 3: into the conference. I think it's sold out, so it's 151 00:09:27,720 --> 00:09:30,600 Speaker 3: not something that the public can go to. But maybe 152 00:09:30,600 --> 00:09:32,920 Speaker 3: they're going to stream it or record it. I don't know, 153 00:09:32,960 --> 00:09:35,440 Speaker 3: you have to ask them. It's called the German American Conference. 154 00:09:36,000 --> 00:09:38,960 Speaker 1: So literally you were going to speak at Boston University 155 00:09:39,240 --> 00:09:43,680 Speaker 1: and because of death threats, they have now canceled that conference. 156 00:09:43,720 --> 00:09:47,599 Speaker 1: That's incredible, That's just incredible. So Mark, what happened to 157 00:09:47,679 --> 00:09:48,560 Speaker 1: academic freedom? 158 00:09:49,800 --> 00:09:49,920 Speaker 5: Uh? 159 00:09:50,040 --> 00:09:51,760 Speaker 3: Yeah, I don't know what does that mean? What is 160 00:09:51,800 --> 00:09:55,640 Speaker 3: academic freedom nowadays? That's an oxymoron unfortunately, even though it 161 00:09:55,640 --> 00:09:56,160 Speaker 3: shouldn't be. 162 00:09:57,120 --> 00:10:00,600 Speaker 1: Mark, Where can people go to read more about the 163 00:10:00,640 --> 00:10:03,080 Speaker 1: stuff coming out that you're writing? And the Center for 164 00:10:03,120 --> 00:10:06,160 Speaker 1: Immigration Studies, what's what's the best website for them. 165 00:10:06,000 --> 00:10:06,400 Speaker 2: To go to? 166 00:10:07,240 --> 00:10:10,959 Speaker 3: It's two places. One is our website. It is CIS 167 00:10:11,000 --> 00:10:14,800 Speaker 3: dot org. We have every day we have blog posts, 168 00:10:14,840 --> 00:10:18,520 Speaker 3: we have longer reports, videos, all the stuff you name it. 169 00:10:18,720 --> 00:10:23,200 Speaker 3: We also we have a podcast there called Parsing Immigration Policy, 170 00:10:23,320 --> 00:10:27,040 Speaker 3: like parsing a sentence. It's in all the usual podcast places. 171 00:10:27,400 --> 00:10:30,040 Speaker 3: And the last thing I'd recommend is if somebody has 172 00:10:30,040 --> 00:10:33,760 Speaker 3: a taste for snark and sarcasm, I'm on Twitter at 173 00:10:33,880 --> 00:10:37,600 Speaker 3: Mark s as In Stephen Mark s Grecorian. 174 00:10:38,520 --> 00:10:42,920 Speaker 1: Mark dynamite stuff, keep up the outstanding work. Six one 175 00:10:43,040 --> 00:10:47,440 Speaker 1: seven two six six sixty eight sixty eight is the number. Okay, 176 00:10:47,440 --> 00:10:49,679 Speaker 1: A couple lines are open if you want to jump on. 177 00:10:50,320 --> 00:10:53,640 Speaker 1: Let me ask all of you to confront now the 178 00:10:53,720 --> 00:10:59,520 Speaker 1: growing affordability issue that the Democrats apparently wrote to Road 179 00:10:59,600 --> 00:11:02,880 Speaker 1: to Power but wrote to Victory. I should say, in 180 00:11:02,960 --> 00:11:05,160 Speaker 1: the last the elections, what is it a couple of 181 00:11:05,160 --> 00:11:09,880 Speaker 1: weeks ago, the off year elections. Republicans now are panicking. 182 00:11:10,559 --> 00:11:14,320 Speaker 1: Trump is telling them take it easy. The big beautiful 183 00:11:14,360 --> 00:11:17,120 Speaker 1: bill is going to start kicking in. We're working on 184 00:11:17,200 --> 00:11:20,840 Speaker 1: bringing down inflation. Gases coming down, It's going to come 185 00:11:20,880 --> 00:11:25,800 Speaker 1: down even more. The cost of eggs and some fruits, vegetables, 186 00:11:25,800 --> 00:11:28,679 Speaker 1: some of the grocery bills are getting a little bit 187 00:11:28,720 --> 00:11:32,800 Speaker 1: easier now, a little lower. But he says a good 188 00:11:32,800 --> 00:11:37,000 Speaker 1: idea that he's looking at very seriously is to make 189 00:11:37,120 --> 00:11:42,920 Speaker 1: a fifty year mortgage available for first time home buyers. 190 00:11:43,559 --> 00:11:46,320 Speaker 1: And the trade off is you'll have about two hundred 191 00:11:46,400 --> 00:11:51,240 Speaker 1: maybe two hundred and fifty dollars reduce reduction in your 192 00:11:51,240 --> 00:11:54,760 Speaker 1: mortgage payments every month. However, you'll be paying a lot 193 00:11:54,800 --> 00:11:58,800 Speaker 1: more in interest over the long haul. And so good idea, 194 00:11:59,120 --> 00:12:03,319 Speaker 1: bad idea, And of course it's not just one's personal choice. 195 00:12:03,840 --> 00:12:05,719 Speaker 2: Whether you know you like that, don't like that? 196 00:12:06,360 --> 00:12:09,720 Speaker 1: Want a fifteen year mortgage, thirty year mortgage, fifty year mortgage? 197 00:12:10,559 --> 00:12:14,560 Speaker 1: Is that a forty to fifty year mortgage? If they 198 00:12:14,640 --> 00:12:17,520 Speaker 1: start not being able to make their payments, if they 199 00:12:17,559 --> 00:12:20,800 Speaker 1: start being delinquent, the banks are not going to be 200 00:12:20,840 --> 00:12:23,839 Speaker 1: on the hook for this. It's going to be the taxpayer. 201 00:12:25,120 --> 00:12:29,240 Speaker 1: And so the question is, are we now putting too 202 00:12:29,360 --> 00:12:33,080 Speaker 1: much risk into the housing market that could lead to 203 00:12:33,120 --> 00:12:37,320 Speaker 1: an eventual housing market collapse similar to what we saw 204 00:12:37,400 --> 00:12:39,760 Speaker 1: in two thousand and eight, two thousand and nine. That 205 00:12:39,880 --> 00:12:45,280 Speaker 1: is now the concern of many, not just I'm not 206 00:12:45,360 --> 00:12:50,360 Speaker 1: just talking about Republicans on Capitol Hill. Many conservatives, many 207 00:12:50,400 --> 00:12:58,360 Speaker 1: Trump supporters are saying, now, you know, fifty fifty years 208 00:12:59,160 --> 00:13:03,840 Speaker 1: with people paying high interest rates, this could be a 209 00:13:03,920 --> 00:13:09,079 Speaker 1: recipe for disaster. So good idea, bad idea? Six one 210 00:13:09,200 --> 00:13:12,320 Speaker 1: seven two six six sixty eight sixty. 211 00:13:12,600 --> 00:13:16,280 Speaker 4: All right, before I start write this down, it's extremely important. 212 00:13:17,080 --> 00:13:21,800 Speaker 4: The money masters and the author is Bill Still. It's 213 00:13:21,840 --> 00:13:26,120 Speaker 4: on the computer free now. When you took your mortgage 214 00:13:26,120 --> 00:13:30,040 Speaker 4: out for your house, Okay, where did the bank get 215 00:13:30,040 --> 00:13:34,199 Speaker 4: the money? Uh? 216 00:13:34,520 --> 00:13:36,040 Speaker 2: What do you mean? Where did the bank get the money? 217 00:13:36,640 --> 00:13:39,680 Speaker 4: The bank loaned you money for your house? Right, Yes, 218 00:13:40,640 --> 00:13:42,280 Speaker 4: where did they get the money? 219 00:13:43,080 --> 00:13:43,280 Speaker 3: Uh? 220 00:13:43,360 --> 00:13:45,679 Speaker 1: Isn't it from the Federal Housing Administration? 221 00:13:47,840 --> 00:13:49,920 Speaker 4: The money from the Federal Reserve, from. 222 00:13:49,720 --> 00:13:50,360 Speaker 2: The feral reserve? 223 00:13:50,440 --> 00:13:52,959 Speaker 4: Yeah? Okay, yes, Where did the Federal Reserve get the money? 224 00:13:54,160 --> 00:13:56,520 Speaker 2: That's a very good question. Where do they get the money? 225 00:13:57,480 --> 00:13:59,319 Speaker 4: They don't. They just created out of thin air. 226 00:14:00,640 --> 00:14:01,840 Speaker 2: They print the money. Right. 227 00:14:02,640 --> 00:14:06,240 Speaker 4: The whole financial system is illegal. Look at your constitution. 228 00:14:06,480 --> 00:14:10,040 Speaker 4: It says only Congress should create the money and set 229 00:14:10,080 --> 00:14:15,560 Speaker 4: the coin. So the government should create the money and 230 00:14:15,600 --> 00:14:18,000 Speaker 4: then there'd be no debt and your interest in your 231 00:14:18,000 --> 00:14:21,760 Speaker 4: house would be zero. Now let's say the government said, well, 232 00:14:21,880 --> 00:14:25,720 Speaker 4: charge a two percent that would go to pay taxes. 233 00:14:26,040 --> 00:14:30,680 Speaker 4: In essence, it's really zero. Should be no interest on loans, period. 234 00:14:30,960 --> 00:14:34,280 Speaker 4: And that's the law. And you're telling me Donald Druck 235 00:14:34,480 --> 00:14:37,840 Speaker 4: doesn't know this. He's taking out more mortgages than anybody. 236 00:14:38,160 --> 00:14:42,000 Speaker 4: It's illegal to have a federal reserve. It's against the law. 237 00:14:42,240 --> 00:14:44,720 Speaker 1: Oh, I'm with you on that. I'm against the Federal Reserve. 238 00:14:44,760 --> 00:14:47,120 Speaker 1: I think it should never have been created. I'm with 239 00:14:47,240 --> 00:14:52,600 Speaker 1: you all the way on this. But John, we do 240 00:14:52,760 --> 00:14:54,480 Speaker 1: have it. I mean, I want to get rid of it. 241 00:14:54,520 --> 00:14:57,600 Speaker 1: Don't get me wrong. That's why I always liked Ron Paul. 242 00:14:58,440 --> 00:15:02,000 Speaker 1: And the first step he's was to audit it. Why 243 00:15:02,440 --> 00:15:04,960 Speaker 1: because once you audit to FED, you're going to see, 244 00:15:05,000 --> 00:15:08,720 Speaker 1: my god, how corrupt and abusive it is. I mean, 245 00:15:09,080 --> 00:15:13,680 Speaker 1: it'll stun people, it'll shock the country. I mean it's thievery, 246 00:15:13,760 --> 00:15:17,880 Speaker 1: it really is. It's thievery, it's gangsterism. And so you audit, 247 00:15:18,520 --> 00:15:20,880 Speaker 1: and then once you audit, that'll set the table to 248 00:15:20,920 --> 00:15:23,960 Speaker 1: repeal it. But look, Jack, we live in the system 249 00:15:24,000 --> 00:15:28,320 Speaker 1: that we live now. My question to you, do you 250 00:15:28,400 --> 00:15:31,440 Speaker 1: think we should have a fifty year mortgage or are 251 00:15:31,440 --> 00:15:34,960 Speaker 1: we now just putting too much risk and hazard moral 252 00:15:35,080 --> 00:15:39,520 Speaker 1: hazard into the entire housing system, the entire housing market. 253 00:15:40,280 --> 00:15:47,000 Speaker 4: Listen, jfk knew about it, so he created his own money. 254 00:15:47,040 --> 00:15:50,160 Speaker 4: And it didn't say FED reserve. It says US government note. 255 00:15:50,200 --> 00:15:51,720 Speaker 4: And I will send you one of those, a five 256 00:15:51,760 --> 00:15:54,160 Speaker 4: dollar bill for free. Don't spend it. It's worth more 257 00:15:54,200 --> 00:15:56,920 Speaker 4: than five dollars. Okay, So there's no reason to have 258 00:15:57,000 --> 00:16:01,960 Speaker 4: any kind of hearings or anything. Duck could just do 259 00:16:02,040 --> 00:16:04,760 Speaker 4: what tomorrow what JFK did, And that's why they killed him, 260 00:16:05,000 --> 00:16:08,440 Speaker 4: because he would end the most evil situation in the 261 00:16:08,480 --> 00:16:13,040 Speaker 4: whole world. Evil. It controls the world. You think you 262 00:16:13,160 --> 00:16:15,960 Speaker 4: have a democracy. It's a bunch of boloney. But look 263 00:16:15,960 --> 00:16:18,840 Speaker 4: at that tape and nothing will explain the whole financial 264 00:16:18,880 --> 00:16:20,920 Speaker 4: system more than that the money masses. 265 00:16:21,040 --> 00:16:25,040 Speaker 1: Okay, okay, excellent, No, Jock, great suggestion. And you're right, 266 00:16:25,080 --> 00:16:27,600 Speaker 1: by the way about JFK. He hated the Federal Reserve, 267 00:16:28,400 --> 00:16:32,280 Speaker 1: hated it with a passion, and that's why a lot 268 00:16:32,320 --> 00:16:34,640 Speaker 1: of people suspect that's the reason why he was killed. 269 00:16:34,960 --> 00:16:38,120 Speaker 1: I mean, there's several theories, but there's no question the 270 00:16:38,200 --> 00:16:42,320 Speaker 1: financial oligarchs hated him because he was a mortal enemy 271 00:16:42,360 --> 00:16:46,120 Speaker 1: of the Federal Reserve. Thank you so much for that call, Jack, 272 00:16:46,280 --> 00:16:51,400 Speaker 1: Really good call. Vince in Long Island. Thanks for holding Vince, 273 00:16:51,920 --> 00:16:52,520 Speaker 1: and welcome. 274 00:16:54,000 --> 00:16:54,480 Speaker 6: Hi Jeff. 275 00:16:54,480 --> 00:16:56,400 Speaker 2: How are you doing good? How are you? Vince? 276 00:16:57,720 --> 00:17:00,600 Speaker 6: All right? I think you should listen to the Grace. 277 00:17:00,680 --> 00:17:08,679 Speaker 6: That's why she's a doctor. I agree with her. I 278 00:17:08,680 --> 00:17:11,600 Speaker 6: don't see anything wrong with the fifty year loan. First 279 00:17:11,600 --> 00:17:13,680 Speaker 6: of all, you don't have to take fifty years. It's 280 00:17:13,680 --> 00:17:16,040 Speaker 6: all been said a couple of times on the air too. 281 00:17:16,240 --> 00:17:18,000 Speaker 6: You don't have to wait fifty years to pay for it. 282 00:17:18,040 --> 00:17:20,560 Speaker 6: You can make your own amortization schedule if you want 283 00:17:20,560 --> 00:17:22,640 Speaker 6: to pay it off in twenty years and fifteen years. 284 00:17:22,640 --> 00:17:24,439 Speaker 6: If you have the money, you can do so. But 285 00:17:24,560 --> 00:17:27,720 Speaker 6: you're not locked into a higher payment which if you 286 00:17:27,760 --> 00:17:30,720 Speaker 6: have as they always say, people are one paycheck away 287 00:17:30,720 --> 00:17:33,440 Speaker 6: from bankruptcy. If you miss that paycheck and then you 288 00:17:33,440 --> 00:17:35,480 Speaker 6: can't make the mortgage payment, you're up. 289 00:17:36,960 --> 00:17:40,600 Speaker 1: Vince, Vince, can you just hang on please, I'm up 290 00:17:40,640 --> 00:17:41,399 Speaker 1: against a break. 291 00:17:41,600 --> 00:17:43,000 Speaker 2: I'm gonna come right back to you. 292 00:17:43,560 --> 00:17:47,720 Speaker 1: So Vince is saying, I should listen to my wife. 293 00:17:48,320 --> 00:17:52,040 Speaker 1: Six seven two six six sixty eight sixty eight is 294 00:17:52,080 --> 00:17:54,639 Speaker 1: the number. Okay, we're gonna go right back to Vincent, 295 00:17:54,720 --> 00:17:58,520 Speaker 1: Long Island. But before we do, joining us now as 296 00:17:58,640 --> 00:18:03,960 Speaker 1: she always does. At this time, the co founder, CEO, 297 00:18:04,480 --> 00:18:09,960 Speaker 1: president of Kelly Financial Services, and yes that is her 298 00:18:10,080 --> 00:18:15,679 Speaker 1: charming name, Kelly, Kelly Kelly, how. 299 00:18:15,760 --> 00:18:20,960 Speaker 7: Are you good morning, Jeff, I am good. For so 300 00:18:21,080 --> 00:18:25,399 Speaker 7: many retires, stepping away from work doesn't mean stepping away 301 00:18:25,480 --> 00:18:29,359 Speaker 7: from responsibility. You may be helping a son or daughter 302 00:18:29,440 --> 00:18:33,479 Speaker 7: through college, or caring for an aging parent whose needs 303 00:18:33,480 --> 00:18:37,200 Speaker 7: have grown over time, and when that happens, you feel 304 00:18:37,240 --> 00:18:41,560 Speaker 7: it financially and emotionally. Maybe you're drawing from savings a 305 00:18:41,600 --> 00:18:45,560 Speaker 7: little sooner, or stretching your monthly income a little further, 306 00:18:45,800 --> 00:18:50,199 Speaker 7: just to keep everyone supported. That's when it really helps 307 00:18:50,240 --> 00:18:54,200 Speaker 7: to have something you can lean on, A simple, practical 308 00:18:54,320 --> 00:18:58,359 Speaker 7: checklist that keeps you focus on the essentials of protecting 309 00:18:58,400 --> 00:19:01,200 Speaker 7: your income while you care for the people you love. 310 00:19:01,680 --> 00:19:06,639 Speaker 7: Our Retirement income Planning Checklist offers ten key steps to 311 00:19:06,720 --> 00:19:11,200 Speaker 7: help you think through healthcare cost inflation and making sure 312 00:19:11,240 --> 00:19:12,520 Speaker 7: your money keeps working. 313 00:19:12,560 --> 00:19:13,040 Speaker 6: For you. 314 00:19:13,440 --> 00:19:16,840 Speaker 8: To request your free coffee, give us a caller. Email 315 00:19:17,000 --> 00:19:21,760 Speaker 8: Kelly at Kellyfinancial dot org. Jeff, I'll continue this conversation 316 00:19:21,920 --> 00:19:25,760 Speaker 8: with our Kelly Advisors tomorrow morning at nine am on 317 00:19:26,000 --> 00:19:30,000 Speaker 8: Safe Money Strategies Radio. Do tune in or visit our 318 00:19:30,040 --> 00:19:34,480 Speaker 8: website for this week's radio rewind Jeff, have a wonderful weekend. 319 00:19:34,600 --> 00:19:36,679 Speaker 8: My best of Grace and the kiddos. 320 00:19:36,920 --> 00:19:39,480 Speaker 1: Thank you so much, Kelly, all the best to you 321 00:19:39,520 --> 00:19:43,680 Speaker 1: and everyone at Kelly Financial. Call now get your free 322 00:19:43,720 --> 00:19:47,120 Speaker 1: copy of her guide eight eight eight eight hundred eighteen 323 00:19:47,200 --> 00:19:50,840 Speaker 1: eighty one eight eight eight eight hundred eighteen eighty one, 324 00:19:51,160 --> 00:19:54,240 Speaker 1: or if you prefer, you can email Kelly herself directly 325 00:19:54,840 --> 00:20:01,600 Speaker 1: Kelly at Kellyfinancial dot org, Kelly at Kelly Financial. All right, 326 00:20:01,680 --> 00:20:05,400 Speaker 1: let's go right back to Vincent Long Island. He likes 327 00:20:05,440 --> 00:20:09,040 Speaker 1: the idea big supporter of a fifty year mortgage. He 328 00:20:09,080 --> 00:20:11,480 Speaker 1: thinks I should listen to my wife more because Grace 329 00:20:11,520 --> 00:20:16,159 Speaker 1: agrees with it as well. And basically his point is, 330 00:20:16,880 --> 00:20:20,680 Speaker 1: let the consumer or the buyer decide. If they want 331 00:20:20,720 --> 00:20:24,040 Speaker 1: to pay the mortgage off sooner they can. If they 332 00:20:24,080 --> 00:20:26,560 Speaker 1: want to sell the home if it builds up equity, 333 00:20:27,080 --> 00:20:31,520 Speaker 1: they can. What's the big deal? Vince that I sum 334 00:20:31,600 --> 00:20:32,760 Speaker 1: up your position. 335 00:20:32,400 --> 00:20:36,919 Speaker 6: Accurately pretty much. I wanted to say that debt is 336 00:20:36,960 --> 00:20:39,080 Speaker 6: a great wealth builder if you know how to use 337 00:20:39,119 --> 00:20:42,280 Speaker 6: it properly. Can you imagine saving a million dollars to 338 00:20:42,280 --> 00:20:44,840 Speaker 6: buy a house? How long will it take you? Not 339 00:20:44,960 --> 00:20:47,680 Speaker 6: to mention the inflation costs that that million dollar house 340 00:20:47,720 --> 00:20:50,280 Speaker 6: you're chasing, when you save a million dollars, it probably 341 00:20:50,280 --> 00:20:53,679 Speaker 6: costs a million and a half. So it's never a 342 00:20:53,680 --> 00:20:56,000 Speaker 6: bad idea to own. What are you going to do? Rent? 343 00:20:56,200 --> 00:20:59,320 Speaker 6: Rent is completely wasted money. At least when you own 344 00:20:59,400 --> 00:21:02,119 Speaker 6: the interesting you're paying interest. It's tax deductible, so you 345 00:21:02,119 --> 00:21:04,840 Speaker 6: get a tax benefit. So you probably get at least 346 00:21:04,840 --> 00:21:08,280 Speaker 6: a twenty five percent return on that deduction that you're 347 00:21:08,280 --> 00:21:11,120 Speaker 6: spending interest on. And you have skin in the game, 348 00:21:11,200 --> 00:21:14,840 Speaker 6: so you're growing with the economy. Your wealth is accumulating 349 00:21:15,160 --> 00:21:17,199 Speaker 6: as you grow an income. No one's preventing you, as 350 00:21:17,200 --> 00:21:19,520 Speaker 6: I said, from making a fifty year mortgage into a 351 00:21:19,560 --> 00:21:21,960 Speaker 6: twenty year mortgage. You can pay as much as you want. 352 00:21:22,000 --> 00:21:25,080 Speaker 6: There's no prepayment penalties. The only thing I wanted to 353 00:21:25,119 --> 00:21:27,200 Speaker 6: say is that we can't make the mistake that George 354 00:21:27,240 --> 00:21:29,080 Speaker 6: Bush did in two thousand and one when he wanted 355 00:21:29,119 --> 00:21:32,919 Speaker 6: the ownership society and he basically threw houses at everybody, 356 00:21:32,960 --> 00:21:36,439 Speaker 6: including your legal aliens, with zero percent down. They had 357 00:21:36,480 --> 00:21:38,720 Speaker 6: a one percent loan that didn't adjust for three or 358 00:21:38,720 --> 00:21:40,840 Speaker 6: four years, and at the end of three or four 359 00:21:40,960 --> 00:21:44,080 Speaker 6: years they got this explosive payment that went from one 360 00:21:44,080 --> 00:21:46,919 Speaker 6: thousand dollars to four thousand and five thousand dollars with 361 00:21:47,080 --> 00:21:49,480 Speaker 6: zero percent down on the house. People walked away from 362 00:21:49,520 --> 00:21:52,280 Speaker 6: those houses, and that annoyed the hell out of me 363 00:21:52,359 --> 00:21:55,119 Speaker 6: because it brought down the market value of houses. So 364 00:21:55,160 --> 00:21:58,280 Speaker 6: people as you who want no debt, had a house 365 00:21:58,280 --> 00:22:01,080 Speaker 6: of say five hundred thousand dollars and their house dropped 366 00:22:01,119 --> 00:22:03,879 Speaker 6: to three hundred thousand, they lost two hundred thousand dollars. 367 00:22:04,160 --> 00:22:06,440 Speaker 6: These people with zero money in those same five hundred 368 00:22:06,480 --> 00:22:09,520 Speaker 6: thousand dollars house walked away with it without even paying 369 00:22:09,520 --> 00:22:14,520 Speaker 6: a dollar. And normally whatever the bank loses is technically 370 00:22:14,560 --> 00:22:17,560 Speaker 6: supposed to be income to you. They even waived out 371 00:22:17,600 --> 00:22:20,000 Speaker 6: the Congress waved that that so called loss to the 372 00:22:20,040 --> 00:22:22,280 Speaker 6: bank was not income to you. So these people walked 373 00:22:22,280 --> 00:22:25,360 Speaker 6: away completely scott free. There were people living in houses. 374 00:22:25,600 --> 00:22:27,600 Speaker 6: They didn't pay the taxes, they didn't get fore clothes 375 00:22:27,640 --> 00:22:29,919 Speaker 6: on for two or three years, and the tax player 376 00:22:29,960 --> 00:22:33,560 Speaker 6: basically ate all that expense. And the person who played 377 00:22:33,560 --> 00:22:35,879 Speaker 6: by the rules and had their twenty twenty five percent down, 378 00:22:36,000 --> 00:22:38,960 Speaker 6: they took the soaking. So what I'm opposed to is 379 00:22:39,000 --> 00:22:41,800 Speaker 6: not letting people walk in with zero down. I think 380 00:22:41,800 --> 00:22:44,080 Speaker 6: you need at least ten percent or more down on 381 00:22:44,160 --> 00:22:46,439 Speaker 6: a house because you have to have some skin in 382 00:22:46,440 --> 00:22:47,800 Speaker 6: the game. You have to lose some money if it 383 00:22:47,840 --> 00:22:50,399 Speaker 6: goes down. I don't believe in these one or two 384 00:22:50,480 --> 00:22:55,400 Speaker 6: or three percent down payments. They're ridiculous. And what else 385 00:22:55,440 --> 00:22:56,080 Speaker 6: did I want to say? 386 00:22:56,200 --> 00:22:59,680 Speaker 1: They look evince before you reload, by the way, you're 387 00:22:59,680 --> 00:23:01,680 Speaker 1: making so excellent points. I have to say, you're really 388 00:23:01,720 --> 00:23:05,480 Speaker 1: on fire, Vince. I said something a little bit earlier. 389 00:23:05,600 --> 00:23:08,720 Speaker 1: You may disagree. It's fine that I think a lot 390 00:23:08,760 --> 00:23:12,840 Speaker 1: of this comes down to personal temperament. And you know, 391 00:23:12,840 --> 00:23:15,320 Speaker 1: it's funny because what you just said, maybe about two 392 00:23:15,359 --> 00:23:19,040 Speaker 1: minutes ago, is what Grace tells me all the time. 393 00:23:19,760 --> 00:23:21,840 Speaker 1: And that's what I meant when I said she's more 394 00:23:21,880 --> 00:23:25,240 Speaker 1: comfortable with debt than I am. Grace makes a very 395 00:23:25,240 --> 00:23:28,000 Speaker 1: similar argument to what you make, which is, look, if 396 00:23:28,040 --> 00:23:30,920 Speaker 1: you really want to have wealth, you need to have 397 00:23:31,040 --> 00:23:35,000 Speaker 1: debt in order to use as leverage to get to wealth. 398 00:23:35,680 --> 00:23:38,320 Speaker 1: And she makes your analogy. Often she says, look, how 399 00:23:38,320 --> 00:23:39,879 Speaker 1: long is it gonna take for you to you know, 400 00:23:39,920 --> 00:23:41,920 Speaker 1: you'll say you want a million dollar home. How long 401 00:23:41,960 --> 00:23:43,320 Speaker 1: is it gonna take for you to save up for that? 402 00:23:43,840 --> 00:23:46,080 Speaker 1: I mean, yeah, in theory, it's great to say, don't 403 00:23:46,119 --> 00:23:48,520 Speaker 1: live in debt, But she goes, if you really want 404 00:23:48,560 --> 00:23:51,640 Speaker 1: to advance, if you want to be upwardly mobile, you've 405 00:23:51,680 --> 00:23:55,639 Speaker 1: got to take on debt to get more equity, because 406 00:23:55,680 --> 00:23:58,120 Speaker 1: then you can take on even more debt to take 407 00:23:58,160 --> 00:24:01,680 Speaker 1: on even greater equity. And her point is as long 408 00:24:01,720 --> 00:24:07,479 Speaker 1: as you're constantly financially rising, and your financial portfolio is growing, 409 00:24:07,520 --> 00:24:10,439 Speaker 1: and your wealth is growing. You know, in other words, 410 00:24:11,600 --> 00:24:13,639 Speaker 1: you know your debt ratio. Yeah, you don't want to 411 00:24:13,640 --> 00:24:17,480 Speaker 1: have too much debt, obviously nobody does. But it's equity 412 00:24:17,560 --> 00:24:20,400 Speaker 1: to debt ratio. And so her point is, I don't 413 00:24:20,400 --> 00:24:23,080 Speaker 1: want to sound like a banker here, but her point 414 00:24:23,160 --> 00:24:27,680 Speaker 1: is that you need debt to make money. So debt 415 00:24:27,720 --> 00:24:31,080 Speaker 1: in and of itself is not a bad thing. Now, look, Vince, 416 00:24:31,200 --> 00:24:34,879 Speaker 1: I intellectually I get it. I grasp it. There's no question. 417 00:24:35,640 --> 00:24:42,280 Speaker 1: I'm just telling you my personality. I hate debt. I 418 00:24:42,359 --> 00:24:44,840 Speaker 1: get a bill, I got to pay it right away. 419 00:24:45,600 --> 00:24:47,720 Speaker 1: Like how do I say this? If I could pay 420 00:24:47,760 --> 00:24:51,040 Speaker 1: a car today, I would pay a car today. Like 421 00:24:51,160 --> 00:24:54,000 Speaker 1: I'm a fanatic when it comes to that. I'm a 422 00:24:54,080 --> 00:24:57,760 Speaker 1: worry wart. I worry about the future. I always think 423 00:24:57,840 --> 00:25:00,879 Speaker 1: something bad could potentially be around the core owner. So 424 00:25:01,119 --> 00:25:03,919 Speaker 1: I'm the kind of guy, you know, I'm always a 425 00:25:03,920 --> 00:25:07,840 Speaker 1: bird in the hand, not two in the bush. Is 426 00:25:07,880 --> 00:25:11,600 Speaker 1: that also part of the difference in this that whether 427 00:25:11,640 --> 00:25:14,800 Speaker 1: you like a fifty year mortgage or not comes down 428 00:25:14,880 --> 00:25:17,800 Speaker 1: in a sense to your outlook on life or am 429 00:25:17,800 --> 00:25:20,320 Speaker 1: I wrong, all right. 430 00:25:20,359 --> 00:25:23,000 Speaker 6: I mean, look at Donald Trump. You build an entire 431 00:25:23,359 --> 00:25:26,560 Speaker 6: wealth establishment at a debt. How could you afford to 432 00:25:26,560 --> 00:25:29,240 Speaker 6: build those buildings by not having that debt? And of 433 00:25:29,280 --> 00:25:32,240 Speaker 6: course those buildings doubled in value. The idea is how 434 00:25:32,280 --> 00:25:34,000 Speaker 6: you use it. I mean, if you go out and 435 00:25:34,080 --> 00:25:37,080 Speaker 6: spend money on vacations or Taylor's Swift tickets, which I 436 00:25:37,119 --> 00:25:39,280 Speaker 6: was reading. Some of these idiots are putting Taylor Swift 437 00:25:39,320 --> 00:25:41,600 Speaker 6: tickets at two thousand dollars on their credit card. They 438 00:25:41,640 --> 00:25:43,440 Speaker 6: can't even afford it, but they're putting und their credit card. 439 00:25:44,080 --> 00:25:46,440 Speaker 6: That kind of debt you don't want. But you know, 440 00:25:46,560 --> 00:25:48,400 Speaker 6: if you need a car and stuff like that, it's 441 00:25:48,400 --> 00:25:50,639 Speaker 6: all right to go for a car loan because in 442 00:25:50,680 --> 00:25:53,000 Speaker 6: accounting there's a thing called the matching principle. The car 443 00:25:53,040 --> 00:25:55,280 Speaker 6: is going to serve you many years of use, so 444 00:25:55,320 --> 00:25:57,520 Speaker 6: you should offset it against many years of revenue. But 445 00:25:57,560 --> 00:26:00,800 Speaker 6: it's coming in the future. It's not a one time expense. 446 00:26:00,840 --> 00:26:02,680 Speaker 6: I go out and buy a fifty thousand dollar carr, Well, 447 00:26:02,720 --> 00:26:04,880 Speaker 6: that's my expense for the month. It's really a six 448 00:26:04,960 --> 00:26:07,440 Speaker 6: or seven year expense. You should spread it in that way. 449 00:26:07,680 --> 00:26:09,000 Speaker 6: That's how you balance a budget. 450 00:26:10,520 --> 00:26:16,280 Speaker 1: Interesting interesting, Vince, if I could make you Trump's top 451 00:26:16,359 --> 00:26:21,040 Speaker 1: economic advisor for a day, he says, Listen, Vince, houses 452 00:26:21,040 --> 00:26:25,360 Speaker 1: are way too expensive. Rents are way too expensive. These 453 00:26:25,400 --> 00:26:28,320 Speaker 1: Democrats are now, I mean, it's Biden's problem. Obviously he 454 00:26:28,400 --> 00:26:32,080 Speaker 1: created this, but now they're feasting. I got Mamdani in 455 00:26:32,160 --> 00:26:35,560 Speaker 1: New York. I've got Spanberger in Virginia. I've got Mikey 456 00:26:35,680 --> 00:26:38,600 Speaker 1: Cheryl in New Jersey. The Democrats are making this an 457 00:26:38,640 --> 00:26:42,680 Speaker 1: affordability issue, and they're pinning US Republicans as being out 458 00:26:42,680 --> 00:26:47,480 Speaker 1: of touch. I've got to get the affordability issue under control. 459 00:26:47,880 --> 00:26:50,920 Speaker 1: I need to bring the cost of housing and rent down. 460 00:26:51,320 --> 00:26:52,040 Speaker 2: What would you tell. 461 00:26:52,000 --> 00:26:55,920 Speaker 6: Him, Well, one of the things is, as it has 462 00:26:56,000 --> 00:27:00,239 Speaker 6: been said, illegal aliens are basically overflowing in to our 463 00:27:00,280 --> 00:27:03,760 Speaker 6: system and we can't absorb them, and that drives up 464 00:27:03,800 --> 00:27:05,640 Speaker 6: the cost of housing as well. So once you get 465 00:27:05,680 --> 00:27:08,159 Speaker 6: all those people out, you have to also free up 466 00:27:08,160 --> 00:27:11,040 Speaker 6: all these environmental regulations to allow people to build more 467 00:27:11,040 --> 00:27:13,960 Speaker 6: housing and all that stuff. And you know, all these 468 00:27:14,040 --> 00:27:16,480 Speaker 6: all these environmentalists are stopping you from even putting a 469 00:27:16,520 --> 00:27:18,800 Speaker 6: deck on your on your backyard. It's it's ridiculous. So 470 00:27:18,800 --> 00:27:23,080 Speaker 6: it's environmental it's an illegal invasion, and there's no reason 471 00:27:23,080 --> 00:27:25,160 Speaker 6: why we can't build another million or two million houses 472 00:27:25,200 --> 00:27:29,600 Speaker 6: a year. We've got and Vince, I guess, Vince correct me. 473 00:27:29,600 --> 00:27:31,119 Speaker 6: I don't want to put words in your mouth, but 474 00:27:31,440 --> 00:27:34,439 Speaker 6: and get rid of Vege your own Powell, right. I mean, 475 00:27:34,520 --> 00:27:36,720 Speaker 6: let's get a new fet chair and let's get these 476 00:27:36,760 --> 00:27:40,199 Speaker 6: interest rates down a bang, bang bang, and then we're 477 00:27:40,280 --> 00:27:44,800 Speaker 6: rolling again. Vince, thank you very much for that call. 478 00:27:44,920 --> 00:27:48,400 Speaker 6: As always, I appreciate it. Six one seven two six 479 00:27:48,560 --> 00:27:52,800 Speaker 6: six sixty eight sixty eight is the number? Uh, Mike, 480 00:27:52,840 --> 00:27:58,640 Speaker 6: how much time left? Thirty five seconds? Boy, Mike cheese. Okay, 481 00:27:59,000 --> 00:28:03,800 Speaker 6: Let's let me ask all of you Trump's people are listening. 482 00:28:04,800 --> 00:28:07,000 Speaker 6: They want to hear. Do you like the idea of 483 00:28:07,080 --> 00:28:09,760 Speaker 6: a fifty year mortgage? Do you not like the idea 484 00:28:09,760 --> 00:28:12,719 Speaker 6: of a fifty year mortgage? And should this now be 485 00:28:12,840 --> 00:28:15,320 Speaker 6: made available to first time home buyers? 486 00:28:16,200 --> 00:28:16,679 Speaker 2: All of you? 487 00:28:16,800 --> 00:28:20,320 Speaker 1: Would you take a fifty year mortgage? Six one seven 488 00:28:20,400 --> 00:28:25,800 Speaker 1: two six six sixty eight sixty eight? George in New Hampshire, 489 00:28:26,080 --> 00:28:28,160 Speaker 1: Thanks for holding, George, and. 490 00:28:28,160 --> 00:28:31,880 Speaker 5: Welcome Bey, Jeff, thanks for taking the call. 491 00:28:32,720 --> 00:28:33,800 Speaker 6: Can I make a comment. 492 00:28:33,520 --> 00:28:37,160 Speaker 5: On the on the the immigrants coming from China. 493 00:28:37,800 --> 00:28:39,960 Speaker 2: Yes please, yeah, go ahead, yes. 494 00:28:39,720 --> 00:28:44,400 Speaker 5: Yes, sir, so real quick. I mean I'm maybe maybe 495 00:28:44,440 --> 00:28:48,000 Speaker 5: the maybe the back door for that whole needs a 496 00:28:48,080 --> 00:28:51,360 Speaker 5: student thing from China or some hell whole country that 497 00:28:51,640 --> 00:28:56,160 Speaker 5: basically contradicts our morals and our founding of our country 498 00:28:56,240 --> 00:28:59,480 Speaker 5: is that every semester they're required to take constitutional law 499 00:29:01,040 --> 00:29:05,280 Speaker 5: and basically our perspective on how a culture should run. 500 00:29:06,400 --> 00:29:10,040 Speaker 5: And it would be mandatory. I think that it would 501 00:29:10,080 --> 00:29:13,040 Speaker 5: be a nice solution to this whole thing, because I 502 00:29:13,080 --> 00:29:16,320 Speaker 5: don't see that changing, because it's too much profit for 503 00:29:16,400 --> 00:29:20,800 Speaker 5: these universities and colleges not to take foreign students. They 504 00:29:20,800 --> 00:29:24,000 Speaker 5: make a lot of money off it. 505 00:29:24,200 --> 00:29:30,920 Speaker 1: Just a perspective, Dave, Look, I like where you're coming from. Look, 506 00:29:30,960 --> 00:29:34,600 Speaker 1: I think we have to ask ourselves. Does our country 507 00:29:34,680 --> 00:29:38,080 Speaker 1: live for the colleges and universities for them to make money, 508 00:29:38,760 --> 00:29:43,040 Speaker 1: or do the colleges and universities exist to educate Americans? 509 00:29:44,120 --> 00:29:50,240 Speaker 1: And my position has always been, Dave, sorry, George, forgive me, George. 510 00:29:50,280 --> 00:29:54,800 Speaker 1: My position has always been, we subsidize these universities. You do, 511 00:29:54,880 --> 00:29:57,760 Speaker 1: I do, all of us do. Frankly, even these so 512 00:29:57,800 --> 00:30:02,400 Speaker 1: called private colleges. No, it's they're not completely private. They're not. 513 00:30:03,320 --> 00:30:08,960 Speaker 1: So you know, if we're subsidizing universities and colleges, well 514 00:30:09,040 --> 00:30:12,240 Speaker 1: then I'm sorry. We have a right to insist that 515 00:30:12,360 --> 00:30:17,600 Speaker 1: they put American students and American interests first. And look, 516 00:30:17,840 --> 00:30:21,320 Speaker 1: I'm with Mark Grekorian on this. I'm not against foreigners 517 00:30:21,320 --> 00:30:23,400 Speaker 1: coming in. Look, I was a foreigner. I came in 518 00:30:23,440 --> 00:30:27,240 Speaker 1: and studied at Ohio University. I was immensely grateful, And 519 00:30:27,280 --> 00:30:31,320 Speaker 1: there were foreign students at Ohio University, very good, very 520 00:30:31,320 --> 00:30:34,280 Speaker 1: grateful to be there. Many of them stayed, got good jobs, 521 00:30:34,320 --> 00:30:37,960 Speaker 1: got married, did everything the right way. But you know, 522 00:30:38,160 --> 00:30:41,320 Speaker 1: we don't have to open the door to the communist Chinese. 523 00:30:41,800 --> 00:30:44,200 Speaker 1: You know, we can say no to the communist Chinese. 524 00:30:44,800 --> 00:30:47,680 Speaker 1: We don't have to say yes. We can take students 525 00:30:47,680 --> 00:30:50,600 Speaker 1: from Japan, we can take students from South Korea. We 526 00:30:50,600 --> 00:30:54,200 Speaker 1: can take students from other parts of the world. You know, Katar, 527 00:30:55,160 --> 00:30:58,640 Speaker 1: Saudi Arabia. Why are we taking their students. They're the 528 00:30:58,680 --> 00:31:01,440 Speaker 1: ones that are fomenting so much of this anti Semitism 529 00:31:02,080 --> 00:31:06,000 Speaker 1: and jew hatred on college campuses. We can take them, say, 530 00:31:06,040 --> 00:31:11,600 Speaker 1: I don't know, from France or Germany or England or whatever. 531 00:31:11,720 --> 00:31:14,080 Speaker 1: Other parts of the world So what I'm saying is, 532 00:31:14,480 --> 00:31:17,600 Speaker 1: even if we want to bring in foreign students, we 533 00:31:17,680 --> 00:31:22,520 Speaker 1: can decide from which countries. So to me, I always 534 00:31:22,560 --> 00:31:25,680 Speaker 1: look at it as what serves the interest of the 535 00:31:25,720 --> 00:31:30,760 Speaker 1: American people and what serves the interests of America, because ultimately, 536 00:31:31,520 --> 00:31:35,760 Speaker 1: I believe our government works for us. I believe we, 537 00:31:35,840 --> 00:31:39,800 Speaker 1: as the taxpayers and the voters and the citizens, we 538 00:31:39,960 --> 00:31:44,560 Speaker 1: own this country. We own this government. We're literally like 539 00:31:44,600 --> 00:31:48,840 Speaker 1: the shareholders, and so we have to start acting like it, 540 00:31:49,240 --> 00:31:51,520 Speaker 1: and I think they have to start treating us like it. 541 00:31:52,360 --> 00:31:54,800 Speaker 1: George agreed, disagree? Final word to you. 542 00:31:55,480 --> 00:31:58,360 Speaker 5: Yeah, I absolutely I agree. I mean Savage used to 543 00:31:58,400 --> 00:32:03,280 Speaker 5: push this perspect It was very interesting to me. I'd 544 00:32:03,280 --> 00:32:07,920 Speaker 5: like to share in that Japan's would take four or 545 00:32:08,000 --> 00:32:11,760 Speaker 5: five Islamic immigrants a year into their culture. They would 546 00:32:11,800 --> 00:32:15,479 Speaker 5: absorb them. And I find that interestingly because you know, 547 00:32:15,840 --> 00:32:21,000 Speaker 5: nothing again against Islam, but it's contrary to what our 548 00:32:21,040 --> 00:32:24,240 Speaker 5: culture believes and how our founding of our country. 549 00:32:23,960 --> 00:32:24,840 Speaker 3: Was set up. 550 00:32:25,920 --> 00:32:29,920 Speaker 5: So that's how that's how their perspective of taking foreigners 551 00:32:29,960 --> 00:32:33,760 Speaker 5: into the country, and I agree with it, so but 552 00:32:34,320 --> 00:32:36,320 Speaker 5: real quickly, Jeff, I mean in terms of like the 553 00:32:36,360 --> 00:32:42,160 Speaker 5: perspective on the fifty year mortgage. I see that we 554 00:32:42,280 --> 00:32:44,479 Speaker 5: have to get prices down. There is a price correction 555 00:32:44,560 --> 00:32:47,600 Speaker 5: that needs to come in the housing market. As a 556 00:32:47,640 --> 00:32:50,600 Speaker 5: person that's the third generation carpenter, I've owned a business 557 00:32:50,600 --> 00:32:52,480 Speaker 5: for almost I'm going to be on my thirtieth year 558 00:32:52,520 --> 00:32:55,960 Speaker 5: of being in business and doing remodeling work. I see 559 00:32:55,960 --> 00:32:59,920 Speaker 5: the cartel in terms of real estate agents, mortgage brokers, 560 00:33:00,080 --> 00:33:05,400 Speaker 5: home inspectors selling and pushing homes that need a tremendous 561 00:33:05,440 --> 00:33:09,000 Speaker 5: amount of work done to their homes, and it's misleading 562 00:33:09,040 --> 00:33:13,640 Speaker 5: to the buyer. And I don't know how you how 563 00:33:13,720 --> 00:33:16,520 Speaker 5: you correct and lower the costs of the of the 564 00:33:16,560 --> 00:33:19,719 Speaker 5: housing market. But the housing market has to be brought 565 00:33:20,120 --> 00:33:24,560 Speaker 5: pre COVID. In my opinion, I appreciate that the the 566 00:33:24,680 --> 00:33:28,480 Speaker 5: UH the pay hike that I received from COVID. It's 567 00:33:28,480 --> 00:33:33,520 Speaker 5: helped my business and help my family tremendously. But there 568 00:33:33,560 --> 00:33:36,080 Speaker 5: are homes that are being sold that need so much work. 569 00:33:36,120 --> 00:33:41,440 Speaker 5: And yes, in history it's it's an appreciating property, but 570 00:33:41,960 --> 00:33:45,080 Speaker 5: like like buying a used car, it's a lot of 571 00:33:45,120 --> 00:33:47,960 Speaker 5: these homes are depreciating and costs because of the amount 572 00:33:48,000 --> 00:33:50,200 Speaker 5: of work that needs to be done. If you want 573 00:33:50,240 --> 00:33:53,920 Speaker 5: to drop the costs. From my perspective, as someone that's 574 00:33:53,920 --> 00:33:56,840 Speaker 5: on the ground doing a day and day out, we 575 00:33:56,920 --> 00:33:59,080 Speaker 5: need to drop some of the costs from the real 576 00:33:59,200 --> 00:34:05,720 Speaker 5: estate agents, the mortgage brokers, local and state regulations. It's 577 00:34:05,760 --> 00:34:08,839 Speaker 5: too confusing and everything and anything that can be done 578 00:34:09,040 --> 00:34:13,000 Speaker 5: to help lower costs on that end would be greatly appreciated. 579 00:34:13,000 --> 00:34:15,839 Speaker 1: Well, I agree, I completely agree. All I can do 580 00:34:15,920 --> 00:34:19,160 Speaker 1: is add to what you're saying, George. Look, just very quickly, 581 00:34:19,800 --> 00:34:21,880 Speaker 1: you know, I've said this before. We bought our home 582 00:34:22,080 --> 00:34:24,680 Speaker 1: about five hundred thousand, you know, give or take, maybe 583 00:34:24,680 --> 00:34:27,480 Speaker 1: a little bit more we could, according to Grace, and 584 00:34:27,560 --> 00:34:29,600 Speaker 1: I trust my wife. She says she thinks we can 585 00:34:29,640 --> 00:34:31,759 Speaker 1: get easy nine hundred and nine to fifty even a 586 00:34:31,800 --> 00:34:34,959 Speaker 1: million dollars for it. I'm telling you, it's not worth 587 00:34:34,960 --> 00:34:38,280 Speaker 1: a million dollars. I'm just using my home as an example. 588 00:34:38,800 --> 00:34:41,799 Speaker 1: It's way overpriced now, I mean in the sense that 589 00:34:42,360 --> 00:34:44,640 Speaker 1: maybe somebody would buy it, but I'm telling you it's 590 00:34:44,719 --> 00:34:49,000 Speaker 1: not worth a million dollars, not even close. And she, 591 00:34:49,160 --> 00:34:51,280 Speaker 1: you know, she tells me about these prices of homes. 592 00:34:51,800 --> 00:34:55,160 Speaker 1: I'm like, who can pay for this? I mean, that's 593 00:34:55,160 --> 00:34:59,840 Speaker 1: an it's just too expensive. And you know, look to me, 594 00:35:00,200 --> 00:35:01,759 Speaker 1: if you're gonna be aye a you know, a buy 595 00:35:01,800 --> 00:35:04,320 Speaker 1: a million dollar home, it's got it. 596 00:35:04,360 --> 00:35:05,680 Speaker 2: You know, you walk in and go wow. 597 00:35:06,840 --> 00:35:10,200 Speaker 1: I mean to me, it's got to be loaded. It's 598 00:35:10,200 --> 00:35:13,080 Speaker 1: got to have every you know, creature, comfort under the sun. 599 00:35:14,200 --> 00:35:19,160 Speaker 1: We're talking about many ways ordinary homes. That's the problem. 600 00:35:19,280 --> 00:35:24,960 Speaker 1: It's just too expensive and it's one of the biggest 601 00:35:25,000 --> 00:35:29,720 Speaker 1: affordability issues. There's no question. You know, yes, it's gas, 602 00:35:29,760 --> 00:35:33,480 Speaker 1: it's food, it's groceries, it's the energy utility bills. But 603 00:35:33,600 --> 00:35:36,120 Speaker 1: what rent I don't know how people pay three four 604 00:35:36,239 --> 00:35:38,600 Speaker 1: five thousand dollars a month rent. I don't, I don't 605 00:35:38,719 --> 00:35:42,200 Speaker 1: I how do you do that? It's it's gonna choke 606 00:35:42,280 --> 00:35:45,359 Speaker 1: you again, unless you're a gazillionaire.