1
00:00:00,240 --> 00:00:01,840
Speaker 1: Do you want to be an American?

2
00:00:03,000 --> 00:00:06,280
Speaker 2: Here we go sloany seven hundred WLW. We jump in

3
00:00:06,320 --> 00:00:09,440
Speaker 2: with this. President Trump says Iran wants a deal and

4
00:00:09,520 --> 00:00:12,039
Speaker 2: the war could end in days. But Iran says there

5
00:00:12,039 --> 00:00:15,600
Speaker 2: are no talks, no negotiations, as strait is closed. And

6
00:00:15,640 --> 00:00:18,160
Speaker 2: now we're having word that maybe there are some individuals

7
00:00:18,160 --> 00:00:20,599
Speaker 2: inside Iran that are talking to God only knows. We

8
00:00:20,600 --> 00:00:23,360
Speaker 2: don't have no idea who's telling the truth. And what

9
00:00:23,480 --> 00:00:27,040
Speaker 2: happens if this whole thing falls apart. We're now sending troops,

10
00:00:27,160 --> 00:00:30,639
Speaker 2: actual physical United States Marines and an expeditionary unit to

11
00:00:31,360 --> 00:00:34,080
Speaker 2: the Middle East. We're starting to get troops on the ground,

12
00:00:34,320 --> 00:00:39,720
Speaker 2: and certainly Democrats, but particularly a number of Republicans do

13
00:00:39,840 --> 00:00:43,239
Speaker 2: not want that to happen. And what happens if we

14
00:00:43,280 --> 00:00:44,720
Speaker 2: have to have ground trips? So we're going to go

15
00:00:44,760 --> 00:00:47,120
Speaker 2: in and get the nuclear arsenal, We're going to go

16
00:00:47,159 --> 00:00:50,240
Speaker 2: get the nukes out. That means boots on the ground.

17
00:00:50,280 --> 00:00:52,120
Speaker 2: What does that look like? How do we navigate this?

18
00:00:52,280 --> 00:00:55,680
Speaker 2: And every day this war goes on with no off ramp,

19
00:00:56,000 --> 00:00:59,080
Speaker 2: problematic for US and our economy. Joining the show is

20
00:00:59,120 --> 00:01:03,319
Speaker 2: doctor Markensel, former Director of International Studies and Human Rights

21
00:01:03,360 --> 00:01:06,520
Speaker 2: Studies program founder all at the University of Dayton. He's

22
00:01:06,520 --> 00:01:09,039
Speaker 2: our Middle Eastern Terrorism and the Leastern expert, doctor Mark.

23
00:01:09,040 --> 00:01:11,240
Speaker 2: Good morning, How are you, good morning?

24
00:01:11,280 --> 00:01:11,800
Speaker 3: How are you sing?

25
00:01:11,880 --> 00:01:12,640
Speaker 4: I'm doing well. Thanks.

26
00:01:13,000 --> 00:01:16,080
Speaker 2: So Trump postponed the strikes on the infrastructure for five days,

27
00:01:16,080 --> 00:01:19,600
Speaker 2: cooled off. We saw the economy rebound, the markets reacted

28
00:01:19,600 --> 00:01:22,360
Speaker 2: really really well. To that said, We've had conversations, but

29
00:01:22,440 --> 00:01:25,200
Speaker 2: there's about a lot of mixed messages in there saying, well,

30
00:01:25,240 --> 00:01:27,200
Speaker 2: we decimated everything. There's no one to talk to just

31
00:01:27,200 --> 00:01:29,360
Speaker 2: a couple days ago, because we killed everybody, and now

32
00:01:29,959 --> 00:01:33,640
Speaker 2: we're somehow negotiating with someone who didn't exist three days ago.

33
00:01:33,720 --> 00:01:36,800
Speaker 2: So Iran flatly denies any negotiations that are happening. Who's

34
00:01:36,840 --> 00:01:38,560
Speaker 2: telling the truth and why does it matter from a

35
00:01:38,560 --> 00:01:39,600
Speaker 2: strategic standpoint?

36
00:01:40,920 --> 00:01:41,200
Speaker 3: Oh my.

37
00:01:41,720 --> 00:01:46,440
Speaker 5: So there's an old adage, right that the first casualty

38
00:01:46,440 --> 00:01:50,240
Speaker 5: of war is the truth. Yes, and that seems to

39
00:01:50,280 --> 00:01:52,440
Speaker 5: apply to the commander in chief, President Trump.

40
00:01:52,520 --> 00:01:56,560
Speaker 3: We don't know what the truth is. You're right, we.

41
00:01:56,520 --> 00:02:00,560
Speaker 5: Obliterated their nuclear material, but they can get bomb in

42
00:02:01,040 --> 00:02:01,600
Speaker 5: two weeks.

43
00:02:01,640 --> 00:02:02,600
Speaker 3: That's why we attacked.

44
00:02:03,560 --> 00:02:09,880
Speaker 5: No, no, no, there's We'll only accept complete unconditional thrender.

45
00:02:10,160 --> 00:02:12,760
Speaker 5: We're having talks and they're going, well, we just don't

46
00:02:12,880 --> 00:02:16,200
Speaker 5: know what's going on now. I gotta tell you, Scott,

47
00:02:16,440 --> 00:02:19,080
Speaker 5: I've been one of those pessimists to believe that conflict

48
00:02:19,120 --> 00:02:23,880
Speaker 5: with the Islamic Republic Iran was was virtually inevitable given

49
00:02:24,040 --> 00:02:28,600
Speaker 5: that regime influence the Mid Eastern weapons. But having a

50
00:02:28,639 --> 00:02:32,000
Speaker 5: commander in chief who seems not to be sending clear

51
00:02:34,080 --> 00:02:37,680
Speaker 5: giving clear answers to the American people about what the

52
00:02:37,760 --> 00:02:39,960
Speaker 5: object of this war is is very.

53
00:02:39,960 --> 00:02:40,840
Speaker 3: Very very frightening.

54
00:02:41,240 --> 00:02:43,000
Speaker 2: Another of us have lived through the last time we

55
00:02:43,080 --> 00:02:47,040
Speaker 2: did this, in that we had there's mission creep, right,

56
00:02:47,480 --> 00:02:49,720
Speaker 2: we're going to uh, we're gonna go and we're going

57
00:02:49,720 --> 00:02:51,800
Speaker 2: to take out Saddam, Who's okay. Great, Well we did that,

58
00:02:51,880 --> 00:02:54,520
Speaker 2: and you know, we're in Afghanistan, we're in Iraq, we're

59
00:02:54,840 --> 00:02:57,799
Speaker 2: we're all over the place. And we lost a number

60
00:02:57,800 --> 00:03:01,040
Speaker 2: of well a lot of really good young people through

61
00:03:01,080 --> 00:03:04,000
Speaker 2: the war. But at the same time, we still really

62
00:03:04,040 --> 00:03:06,560
Speaker 2: know what the outstraats was. Okay, we toppled regime and

63
00:03:06,600 --> 00:03:09,280
Speaker 2: then what happened, I mean ultimately ended with Biden pulling

64
00:03:09,280 --> 00:03:13,080
Speaker 2: half acidly out of Afghanistan. And so what did we gain?

65
00:03:13,160 --> 00:03:15,679
Speaker 2: We broke trust again in the Middle East? Are we

66
00:03:15,720 --> 00:03:17,079
Speaker 2: set to do that all over again here?

67
00:03:20,280 --> 00:03:24,320
Speaker 5: It would appear so, I mean, the they the real

68
00:03:24,400 --> 00:03:27,840
Speaker 5: goal is to topple the regime. That's that's clearly Israel's desire.

69
00:03:28,960 --> 00:03:31,400
Speaker 5: The presidents has said it many times. But at the

70
00:03:31,440 --> 00:03:36,400
Speaker 5: same time, he promised as as a political candidate, not

71
00:03:36,520 --> 00:03:40,960
Speaker 5: to have these permanent wars, these regime change.

72
00:03:40,680 --> 00:03:42,480
Speaker 3: Wars, and that's exactly what we're doing.

73
00:03:42,600 --> 00:03:46,119
Speaker 5: So it's it's it's we don't know whether he's confused

74
00:03:46,520 --> 00:03:50,840
Speaker 5: or he's deceptive, but either way does not bode well

75
00:03:50,920 --> 00:03:54,560
Speaker 5: for the next phase. Now you mentioned the Marines are

76
00:03:54,560 --> 00:03:59,960
Speaker 5: on the en route. What they're talking about extracting new

77
00:04:00,040 --> 00:04:02,720
Speaker 5: clear material is going to take boots on the ground. Yeah,

78
00:04:03,800 --> 00:04:05,400
Speaker 5: you know, we're gonna go in it and it's gonna

79
00:04:05,400 --> 00:04:07,640
Speaker 5: be hot. We're gonna fight our way in and extract

80
00:04:07,640 --> 00:04:10,720
Speaker 5: that material which is deeply buried deeply unide the country

81
00:04:11,360 --> 00:04:15,720
Speaker 5: or who knows. We have a diplomatic off ramp in

82
00:04:15,760 --> 00:04:19,760
Speaker 5: the United Nations. The International Atomic Energy Commission goes in

83
00:04:19,960 --> 00:04:21,960
Speaker 5: and supervises the extraction that material.

84
00:04:23,680 --> 00:04:25,440
Speaker 2: Do you really trust the UN to do that? I

85
00:04:25,480 --> 00:04:27,799
Speaker 2: mean the un is pretty worthless in my opinion.

86
00:04:28,560 --> 00:04:30,680
Speaker 5: Youah, yeah, I'm with you, But it's gonna be someone

87
00:04:30,680 --> 00:04:33,159
Speaker 5: who's gonna have to supervise the extraction of this material.

88
00:04:33,839 --> 00:04:33,960
Speaker 1: Uh.

89
00:04:34,200 --> 00:04:37,360
Speaker 5: And you know you don't hear it's spoken of very much.

90
00:04:37,839 --> 00:04:42,039
Speaker 5: Is it possible? We're worried about the enrichment of the

91
00:04:42,040 --> 00:04:44,719
Speaker 5: the uranium and can they develop what weapons?

92
00:04:44,800 --> 00:04:48,080
Speaker 3: Sure, they can develop dirty bombs. They can put it

93
00:04:48,120 --> 00:04:48,440
Speaker 3: out of.

94
00:04:49,920 --> 00:04:54,320
Speaker 5: Low enriched material and fired in a ballistic missile, uh

95
00:04:54,440 --> 00:04:58,080
Speaker 5: to tell Aviv and essentially turn into a nuclear wasteland.

96
00:04:58,160 --> 00:05:04,560
Speaker 5: So the pre it has really opened up a courvial

97
00:05:04,600 --> 00:05:05,599
Speaker 5: cannib worms here.

98
00:05:06,720 --> 00:05:07,720
Speaker 4: And I think it's a lot was like me.

99
00:05:07,839 --> 00:05:09,559
Speaker 2: I mean, we grew up there and you as well

100
00:05:10,040 --> 00:05:12,560
Speaker 2: saw what the Iola did seventy nine. See what we

101
00:05:12,640 --> 00:05:15,440
Speaker 2: see the regime and how pre seventy nine it look

102
00:05:15,560 --> 00:05:17,760
Speaker 2: very western there. You know, women are going to university

103
00:05:17,880 --> 00:05:21,160
Speaker 2: and now today, of course it's a dystopian hellhole and

104
00:05:21,240 --> 00:05:24,920
Speaker 2: has been so for fifty years. No problem with decapitating

105
00:05:24,960 --> 00:05:28,960
Speaker 2: the regime and provided though that we can kind of

106
00:05:29,040 --> 00:05:31,039
Speaker 2: nudge them in the right direction. Now we're not good

107
00:05:31,040 --> 00:05:34,479
Speaker 2: at nation building for sure, but right now there's just

108
00:05:34,480 --> 00:05:36,600
Speaker 2: no clear picture coming out for I think the American

109
00:05:36,600 --> 00:05:38,800
Speaker 2: people to understand that Trump says Iran has agreed to

110
00:05:38,800 --> 00:05:41,239
Speaker 2: never have a nuclear weapon. But given their track record

111
00:05:41,240 --> 00:05:45,840
Speaker 2: the Obama deal, for example, the Republican Guard lying about

112
00:05:45,839 --> 00:05:48,599
Speaker 2: their missiles or missile range, why would anyone believe that,

113
00:05:48,680 --> 00:05:51,640
Speaker 2: let alone the un of the United States. And if so,

114
00:05:51,800 --> 00:05:55,359
Speaker 2: can't they just move there the fishing ball material somewhere else.

115
00:05:57,240 --> 00:06:00,640
Speaker 5: Yeah, those are all logistical questions, technical questions that are

116
00:06:00,640 --> 00:06:04,120
Speaker 5: difficult to answer. One thing's clear to me as a

117
00:06:04,120 --> 00:06:06,839
Speaker 5: political scientist, is very interested in the nature of the

118
00:06:06,920 --> 00:06:11,240
Speaker 5: regime that deocratic to telitarian state, is that you know,

119
00:06:11,400 --> 00:06:16,120
Speaker 5: Israel clearly wanted and Trump seems to have been convinced that,

120
00:06:16,640 --> 00:06:19,880
Speaker 5: you know, a blitz creed strike will topple that regime

121
00:06:19,920 --> 00:06:21,800
Speaker 5: and we'll get a democratic So we don't have to

122
00:06:21,800 --> 00:06:23,279
Speaker 5: put put you on the ground, we don't have to

123
00:06:23,320 --> 00:06:26,440
Speaker 5: do what we did with that entertaining and so we

124
00:06:26,480 --> 00:06:30,240
Speaker 5: can do it sort of magically. That's just a miss

125
00:06:30,000 --> 00:06:33,839
Speaker 5: this miscalculation. So we could find a diplomatic ard ramp

126
00:06:34,120 --> 00:06:36,640
Speaker 5: where we deal with the nuclear matil but leave in

127
00:06:36,760 --> 00:06:42,240
Speaker 5: place the regime. There's an incredible missile program the strikes

128
00:06:42,240 --> 00:06:47,000
Speaker 5: in Tel Aviv yesterday and today are really uptick in

129
00:06:47,040 --> 00:06:51,200
Speaker 5: the in the escalation of the violence. One Israeli UH

130
00:06:51,640 --> 00:06:54,839
Speaker 5: military commander said, what we got here with yesterday was

131
00:06:54,920 --> 00:06:58,000
Speaker 5: something entirely new. No think about this for a second.

132
00:06:59,160 --> 00:07:01,400
Speaker 5: They have been We've been bombing them for a month.

133
00:07:01,440 --> 00:07:03,480
Speaker 5: The most sophisticated air force in the worlds were bombing

134
00:07:03,520 --> 00:07:05,839
Speaker 5: them for a month, and they still have the ability

135
00:07:06,120 --> 00:07:10,240
Speaker 5: to fire rockets at US, you know, so gives you

136
00:07:10,280 --> 00:07:12,480
Speaker 5: a sense of what that regime would be and if

137
00:07:12,520 --> 00:07:15,280
Speaker 5: they continue to build this missile program for a decade,

138
00:07:15,320 --> 00:07:16,600
Speaker 5: another another few years.

139
00:07:16,880 --> 00:07:19,040
Speaker 3: So there's a need for conflict.

140
00:07:19,200 --> 00:07:22,120
Speaker 5: But you're right, we don't handle it well, and we

141
00:07:22,240 --> 00:07:25,760
Speaker 5: certainly don't handle it well when there's uh, there's there's not.

142
00:07:26,000 --> 00:07:28,920
Speaker 5: There's a lack of clarity in our strategic objective. We

143
00:07:29,080 --> 00:07:31,360
Speaker 5: just can't get that from the president. And if you're

144
00:07:31,360 --> 00:07:36,200
Speaker 5: an American citizen, particularly you're a president President supporter, Maggot supporter, Yeah,

145
00:07:36,240 --> 00:07:39,040
Speaker 5: who believed what he said about no new wars, no

146
00:07:39,120 --> 00:07:42,840
Speaker 5: regime changed wars, Stay stay at home, And suddenly you're

147
00:07:42,840 --> 00:07:46,480
Speaker 5: looking at gas prices. You feel this at a really

148
00:07:46,600 --> 00:07:50,640
Speaker 5: deep political level. You've been deceived. This is a very

149
00:07:50,720 --> 00:07:51,880
Speaker 5: terrible situation where.

150
00:07:51,680 --> 00:07:53,160
Speaker 4: They're market slag. Bizarre.

151
00:07:53,200 --> 00:07:53,360
Speaker 5: It is.

152
00:07:53,480 --> 00:07:55,840
Speaker 2: I'm starting to see the Trump did this. Bumpers are

153
00:07:55,880 --> 00:07:59,160
Speaker 2: stickers on gas pumps now, like like with like they

154
00:07:59,160 --> 00:08:02,280
Speaker 2: did with Biden and he was in charge. And it's

155
00:08:02,320 --> 00:08:04,000
Speaker 2: just it's a bizarre world in which.

156
00:08:03,760 --> 00:08:04,600
Speaker 4: We live right now.

157
00:08:04,840 --> 00:08:06,680
Speaker 2: What if it worked, if we just simply said it's

158
00:08:06,680 --> 00:08:09,760
Speaker 2: in a ray I think ran I think Israel does

159
00:08:09,800 --> 00:08:12,240
Speaker 2: this the time to time. It's like, okay, well, you

160
00:08:12,240 --> 00:08:14,280
Speaker 2: know what, we think you're getting too powerful, you're starting

161
00:08:14,280 --> 00:08:16,880
Speaker 2: to build missiles up, and you're we're going to take

162
00:08:16,920 --> 00:08:18,800
Speaker 2: you out. They launch a tactical strike and it's over.

163
00:08:18,840 --> 00:08:21,040
Speaker 2: They're not invading, they're not trying to regime change, but

164
00:08:21,120 --> 00:08:23,200
Speaker 2: they will as soon as it starts to bubble up

165
00:08:23,280 --> 00:08:25,800
Speaker 2: or it looks like their enemy has too much, they

166
00:08:25,840 --> 00:08:27,760
Speaker 2: go and they take it out. Should this have been

167
00:08:27,800 --> 00:08:30,600
Speaker 2: that they're just simply okay, well, unless you're gonna play

168
00:08:30,600 --> 00:08:33,120
Speaker 2: the game, we're gonna swat you back down. We're gonna

169
00:08:33,120 --> 00:08:35,400
Speaker 2: take your program back several years and we'll keep you

170
00:08:35,400 --> 00:08:35,720
Speaker 2: in check.

171
00:08:35,800 --> 00:08:36,160
Speaker 3: That way.

172
00:08:36,520 --> 00:08:40,480
Speaker 5: Would that have worked, who knows, But I mean it

173
00:08:40,600 --> 00:08:44,600
Speaker 5: really means will will be repeating this conflict every few years. Yeah,

174
00:08:45,000 --> 00:08:47,760
Speaker 5: to steem kind of what Israel's doing with Lebanon, with

175
00:08:47,960 --> 00:08:52,080
Speaker 5: in Lebanon. Yeah, right, with every few years we've forgotten

176
00:08:52,080 --> 00:08:54,920
Speaker 5: about We've gotten with the President's Board of Peace, with

177
00:08:55,080 --> 00:08:58,520
Speaker 5: mister Truman, we forgot about that entirely Middle East. It

178
00:08:58,559 --> 00:09:03,160
Speaker 5: becomes such a quagmire. Is that Vietnam term? So yeah,

179
00:09:03,320 --> 00:09:06,840
Speaker 5: it requurs clarity and thoughts to about our strategic objectives

180
00:09:06,880 --> 00:09:10,600
Speaker 5: and what is realistically possible. But we're not hearing that.

181
00:09:10,920 --> 00:09:14,280
Speaker 5: We're hearing the president saying one thing one day, one thing,

182
00:09:14,760 --> 00:09:18,840
Speaker 5: another thing the same day, and you can tell he's

183
00:09:18,880 --> 00:09:21,839
Speaker 5: doing it for political reasons. Clearly he said we're at

184
00:09:21,880 --> 00:09:25,000
Speaker 5: these constructive talks. I'm not a betting fellow, but I

185
00:09:25,040 --> 00:09:29,040
Speaker 5: would bet on this that was clearly intended to influence

186
00:09:29,080 --> 00:09:30,760
Speaker 5: the markets and the gas prices.

187
00:09:31,400 --> 00:09:33,640
Speaker 3: So apparently false.

188
00:09:34,360 --> 00:09:38,200
Speaker 5: It does not raise confidence in the administration and the president.

189
00:09:38,400 --> 00:09:42,080
Speaker 2: Yeah, so what we say, Okay, just a few days ago,

190
00:09:42,120 --> 00:09:44,040
Speaker 2: we wiped everything out, there's no one to talk to,

191
00:09:44,160 --> 00:09:47,199
Speaker 2: and then hours later it's like, well, we're negotiating and

192
00:09:47,240 --> 00:09:51,480
Speaker 2: we're talking to this the most respected Iranian official, I

193
00:09:51,520 --> 00:09:54,240
Speaker 2: guess wit Coffin Jerk Kushner are talking to this individual?

194
00:09:54,800 --> 00:09:57,200
Speaker 4: Is that really a person? Who would this be?

195
00:09:59,200 --> 00:10:02,640
Speaker 5: You reminds me of Back to Iron, Remember Ron Condra

196
00:10:02,960 --> 00:10:06,760
Speaker 5: Oliver North. Remember they flew over They had some secret

197
00:10:06,840 --> 00:10:12,120
Speaker 5: meeting with the moderate, the Islamic moderates of the regime,

198
00:10:12,320 --> 00:10:18,240
Speaker 5: and it was a complete falsehood or challaby in a rock.

199
00:10:19,000 --> 00:10:21,600
Speaker 5: He had insights into what's actually inside of a rock.

200
00:10:21,720 --> 00:10:24,960
Speaker 5: Trust him. So they may be talking to someone, they're

201
00:10:25,000 --> 00:10:28,000
Speaker 5: clearly not talking to someone who's in the senior leadership

202
00:10:28,040 --> 00:10:31,840
Speaker 5: of a deeply entrenched utilitarian state. So they're talking to somebody,

203
00:10:31,880 --> 00:10:36,280
Speaker 5: but the person they're talking to can't can't speak for

204
00:10:36,400 --> 00:10:37,520
Speaker 5: the regime.

205
00:10:37,920 --> 00:10:39,080
Speaker 4: Yeah, he is.

206
00:10:39,120 --> 00:10:41,439
Speaker 2: Doctor Mark Anseilaco from the University of Daton on the

207
00:10:41,440 --> 00:10:44,679
Speaker 2: show this morning, seven hundred ww R Resident Middle Eastern

208
00:10:44,720 --> 00:10:47,240
Speaker 2: Expert and terrorism expert on the show and contemplating with

209
00:10:47,280 --> 00:10:47,840
Speaker 2: the move is here?

210
00:10:47,840 --> 00:10:49,120
Speaker 4: What the play is here? With Trump?

211
00:10:49,120 --> 00:10:51,240
Speaker 2: And you know, he's really good at pivoting and saying

212
00:10:51,280 --> 00:10:53,160
Speaker 2: what's on his mind, but it seems like he's making

213
00:10:53,200 --> 00:10:55,199
Speaker 2: this up from one second to the next. And even

214
00:10:55,200 --> 00:10:56,760
Speaker 2: if you're mad, I think you agree. Is like, just

215
00:10:56,800 --> 00:10:58,320
Speaker 2: tell us what's going on with the plan? Is there

216
00:10:58,360 --> 00:11:01,319
Speaker 2: a plan here, And with each passing day it feels

217
00:11:01,360 --> 00:11:03,560
Speaker 2: less and less like there's a plan, but more and

218
00:11:03,600 --> 00:11:05,440
Speaker 2: more like we're going to be involved in something. It's

219
00:11:05,440 --> 00:11:07,120
Speaker 2: a drag on for a long time, we hope not.

220
00:11:07,840 --> 00:11:10,000
Speaker 2: And we're trying to find an off ramp here. And

221
00:11:10,040 --> 00:11:12,319
Speaker 2: you wonder what the Trump administration inside the White House

222
00:11:12,400 --> 00:11:14,200
Speaker 2: is trying to figure on the same what the play is.

223
00:11:15,480 --> 00:11:17,680
Speaker 2: Right now, you've got people saying, well, this is Vietnam

224
00:11:17,720 --> 00:11:20,800
Speaker 2: and Tet Offensive all over again. You know, thirty years ago,

225
00:11:20,840 --> 00:11:22,480
Speaker 2: I couldn't tell you what the Tet Offensive was. But

226
00:11:22,520 --> 00:11:23,960
Speaker 2: when you're older and you watch a lot of doctor

227
00:11:24,040 --> 00:11:26,280
Speaker 2: Menors and War, as my wife calls it, you learned

228
00:11:26,320 --> 00:11:29,280
Speaker 2: that the Tet Offensive was during the Vietnam conflict, in

229
00:11:29,320 --> 00:11:31,280
Speaker 2: which in the Tet the holiday their New Year's they

230
00:11:31,320 --> 00:11:36,280
Speaker 2: launched the North Vietnamese launched huge attacks on US installations

231
00:11:36,320 --> 00:11:39,400
Speaker 2: throughout Vietnam, and people go, my guy, who was a

232
00:11:39,440 --> 00:11:41,280
Speaker 2: turning port in the war, we got hand. No, we

233
00:11:41,360 --> 00:11:43,880
Speaker 2: actually turned them back and beat the hell out of

234
00:11:43,920 --> 00:11:47,760
Speaker 2: the Vietnamese in that. But it's a situation where and

235
00:11:47,800 --> 00:11:51,520
Speaker 2: again everything repeats itself. Historically, we won militarily, but we

236
00:11:51,600 --> 00:11:54,440
Speaker 2: lost politically. Is that a similar parallel here.

237
00:11:57,400 --> 00:11:59,839
Speaker 5: Let me take a different angle at that the Vietnam thing.

238
00:12:01,480 --> 00:12:05,000
Speaker 5: You know, when the United States simply declared victory and left,

239
00:12:05,800 --> 00:12:09,600
Speaker 5: and we left ourselves at decent interval before when we left,

240
00:12:09,679 --> 00:12:11,400
Speaker 5: before the North Threet and these took over. It was

241
00:12:11,440 --> 00:12:14,440
Speaker 5: the two years that seems to be the president. Remember,

242
00:12:15,160 --> 00:12:18,680
Speaker 5: the President has said he's the one who will decide

243
00:12:18,800 --> 00:12:21,720
Speaker 5: when they've capitulated, when they've given.

244
00:12:21,520 --> 00:12:24,160
Speaker 4: A gut feeling, right, the gut feeling.

245
00:12:24,000 --> 00:12:26,920
Speaker 3: So he'll just say, like we won, we're leaving, okay.

246
00:12:27,160 --> 00:12:30,360
Speaker 5: And it meantime, by the way, the damage to the

247
00:12:30,400 --> 00:12:33,920
Speaker 5: infrastructure in the Persian Gulf and the Gulf of all Na, right,

248
00:12:34,080 --> 00:12:37,680
Speaker 5: all the all the everything that's been struck by in

249
00:12:37,720 --> 00:12:41,440
Speaker 5: the in the petroleum industry, everything's been struck by both

250
00:12:41,480 --> 00:12:45,440
Speaker 5: sides in this has really damaged oil production that has

251
00:12:45,480 --> 00:12:48,679
Speaker 5: affected multiple countries in the in the Golf and affected

252
00:12:48,679 --> 00:12:52,120
Speaker 5: the global economy. So for the president to say, we

253
00:12:52,200 --> 00:12:56,120
Speaker 5: launched this war for this reason, I'm going to declare victory.

254
00:12:56,160 --> 00:12:57,120
Speaker 3: Even though we didn't achieve.

255
00:12:57,160 --> 00:13:01,719
Speaker 5: The subjectives still left behind, uh a tremendous amount of

256
00:13:01,800 --> 00:13:04,280
Speaker 5: damage that will affect their economy for some time.

257
00:13:04,559 --> 00:13:06,599
Speaker 3: So, I mean good, I was a view that a

258
00:13:06,720 --> 00:13:07,280
Speaker 3: war was good.

259
00:13:07,679 --> 00:13:11,120
Speaker 5: I'm going to come with with Iran given the nature

260
00:13:11,160 --> 00:13:14,800
Speaker 5: industry team and their militarization. But the president of the

261
00:13:14,840 --> 00:13:20,400
Speaker 5: United States does not inspire confidence. Does not inspire confidence,

262
00:13:20,480 --> 00:13:21,200
Speaker 5: is all I can put in.

263
00:13:22,120 --> 00:13:24,840
Speaker 2: I sense that. And now the report out this morning.

264
00:13:24,880 --> 00:13:27,480
Speaker 2: The breaking element here is there may be negotiations with

265
00:13:27,520 --> 00:13:31,240
Speaker 2: the US and around held in Pakistan. We're continuing striking

266
00:13:31,320 --> 00:13:33,599
Speaker 2: military targets as well. We've kind of laid off the

267
00:13:33,600 --> 00:13:36,439
Speaker 2: straight of our moves to say, okay, well, let's maybe

268
00:13:36,440 --> 00:13:38,760
Speaker 2: have some negotiations here, but we'll see if this is

269
00:13:38,760 --> 00:13:41,880
Speaker 2: indeed true, if it plays out in the meantime. Of course,

270
00:13:42,320 --> 00:13:44,240
Speaker 2: we have all sorts of juice on our side. I mean,

271
00:13:44,360 --> 00:13:45,720
Speaker 2: you look at it, with all the stuff we've been

272
00:13:45,720 --> 00:13:48,640
Speaker 2: talking about, Mark Zelaco, you know, maybe for the first

273
00:13:48,640 --> 00:13:50,480
Speaker 2: time in a long time, we have the bulk of

274
00:13:50,640 --> 00:13:52,760
Speaker 2: not all of the Middle East going, hey, we got

275
00:13:52,800 --> 00:13:55,439
Speaker 2: to do something about Iran. Because they're launching missiles of

276
00:13:55,480 --> 00:13:58,800
Speaker 2: Tel Aviv, which is nothing new, but Oman Dubai is

277
00:13:58,840 --> 00:14:02,640
Speaker 2: under attack. It's everyone around them in the region wants

278
00:14:02,640 --> 00:14:06,400
Speaker 2: this regime gone. This should be a lot easier than

279
00:14:06,640 --> 00:14:07,480
Speaker 2: what we're talking about.

280
00:14:07,480 --> 00:14:08,000
Speaker 4: Your shouldn't it.

281
00:14:09,200 --> 00:14:12,880
Speaker 5: Yeah, what's happened since October twenty seventh when when Hamas

282
00:14:12,880 --> 00:14:16,320
Speaker 5: attacked Israel. What's happened the destruction of Hamas and the

283
00:14:16,360 --> 00:14:21,960
Speaker 5: serious debilitation of Hamas. Now his Bolah, the Jutis Siri

284
00:14:22,080 --> 00:14:25,040
Speaker 5: has fallen, you know. So there's been there's been major

285
00:14:26,440 --> 00:14:30,840
Speaker 5: geopolitical transformation in the Middle East. Uh, and the future

286
00:14:30,880 --> 00:14:33,560
Speaker 5: is there to whole. I mean like in Lebanon for example,

287
00:14:33,640 --> 00:14:37,000
Speaker 5: right now Israel bringing h the force of the bear

288
00:14:37,040 --> 00:14:42,760
Speaker 5: on his Bela people, Shia who are you know, linked

289
00:14:42,800 --> 00:14:46,400
Speaker 5: to his Belah are turning against it because yet again

290
00:14:46,640 --> 00:14:50,960
Speaker 5: these fanatics have exposed us to another Israeli war. This

291
00:14:51,040 --> 00:14:57,479
Speaker 5: happened Hamas now with his Belah in Lebanon. So there's

292
00:14:57,760 --> 00:15:00,280
Speaker 5: a transformation in Middle East. But it's this small, it's

293
00:15:00,320 --> 00:15:03,120
Speaker 5: got to clear, it's still it's still burunning. But yeah,

294
00:15:03,480 --> 00:15:06,840
Speaker 5: the global community now with all these brackets from far

295
00:15:07,000 --> 00:15:12,800
Speaker 5: from around hitting other Gulf states. Yes, he has woken

296
00:15:12,920 --> 00:15:15,640
Speaker 5: them to the threat. They they've actually known about the

297
00:15:15,680 --> 00:15:17,760
Speaker 5: thread for a very long time. We've always been fearful

298
00:15:18,200 --> 00:15:23,320
Speaker 5: of Shia aggressive iron and yeah, so there's there's really

299
00:15:23,640 --> 00:15:26,360
Speaker 5: a world war, a regional war going on right now,

300
00:15:26,640 --> 00:15:28,600
Speaker 5: and we're deb in the middle of it.

301
00:15:28,800 --> 00:15:30,200
Speaker 4: Yeah, I want to think that.

302
00:15:30,720 --> 00:15:33,280
Speaker 2: You know, there are back channels, and what happened was

303
00:15:33,320 --> 00:15:35,400
Speaker 2: we're able to sit down and we're gonna negotiate with

304
00:15:35,440 --> 00:15:37,680
Speaker 2: someone and around because you know, clearly look at the

305
00:15:37,680 --> 00:15:40,120
Speaker 2: regime right now, and they lost not just the head

306
00:15:40,160 --> 00:15:42,480
Speaker 2: of the beast, but pretty much the middle and part

307
00:15:42,520 --> 00:15:44,200
Speaker 2: of the tail right now, and they're struggling. And we

308
00:15:44,240 --> 00:15:46,840
Speaker 2: still have no word if the newly installed Ayatola is

309
00:15:46,880 --> 00:15:49,000
Speaker 2: even alive at this point because no one seen the guy.

310
00:15:49,600 --> 00:15:52,720
Speaker 2: We have someonetile rise to power for sure. Uh, but

311
00:15:53,400 --> 00:15:55,240
Speaker 2: I'm sure they want an end of this thing as well.

312
00:15:55,280 --> 00:15:58,440
Speaker 2: Can will There's be some capitulation here. I don't know

313
00:15:58,480 --> 00:16:01,080
Speaker 2: if it'll be like Trump said, Hey, listen, we'll decide

314
00:16:01,080 --> 00:16:03,840
Speaker 2: who goes into who's going to be in power in Iran,

315
00:16:04,800 --> 00:16:07,280
Speaker 2: and we'll work together. I don't see that happening, but

316
00:16:07,760 --> 00:16:09,440
Speaker 2: I'm clearly Iran wants it in this thing.

317
00:16:11,880 --> 00:16:14,320
Speaker 5: Who knows what Iran wants? And you're absolutely right, we

318
00:16:14,400 --> 00:16:16,480
Speaker 5: do not know who we're speaking to. We do not know,

319
00:16:16,640 --> 00:16:19,200
Speaker 5: you know, we could be speaking to someone who's an eatola,

320
00:16:19,280 --> 00:16:21,600
Speaker 5: but they can't. If they didn't make promises, they can't

321
00:16:21,600 --> 00:16:21,920
Speaker 5: deliver it.

322
00:16:21,960 --> 00:16:22,880
Speaker 4: That Yeah, that's true.

323
00:16:22,960 --> 00:16:24,640
Speaker 3: So we simply don't know.

324
00:16:24,880 --> 00:16:28,440
Speaker 5: Now, Israel's got a greater visibility into Iran. I mean,

325
00:16:28,600 --> 00:16:32,000
Speaker 5: they have penetrated Iron for quite some time, you know.

326
00:16:32,200 --> 00:16:35,960
Speaker 5: That's why the decapitation's rights were so simple, and because

327
00:16:35,960 --> 00:16:39,200
Speaker 5: they've been they penetrated for for decades. But we don't

328
00:16:39,240 --> 00:16:40,800
Speaker 5: have that, We don't have that visibility.

329
00:16:41,200 --> 00:16:43,200
Speaker 3: We don't have it. And we talked about this in

330
00:16:43,320 --> 00:16:44,800
Speaker 3: the program last time I was on.

331
00:16:45,840 --> 00:16:48,160
Speaker 5: I don't trust the intelligence community right now, given the

332
00:16:48,240 --> 00:16:49,560
Speaker 5: quality of their leadership either.

333
00:16:49,680 --> 00:16:51,520
Speaker 3: So we're in it.

334
00:16:51,600 --> 00:16:54,320
Speaker 5: We're in a global crisis right now, and we have

335
00:16:54,440 --> 00:16:57,480
Speaker 5: serious concerns about our ability to manage our way through it.

336
00:16:57,560 --> 00:16:59,840
Speaker 2: Yeah, we're not losing sleep over over bombing the hell

337
00:16:59,880 --> 00:17:02,560
Speaker 2: of a ran long time overdue. But what does an

338
00:17:02,600 --> 00:17:05,560
Speaker 2: accept American win look like here? And is it achievable?

339
00:17:05,560 --> 00:17:07,720
Speaker 2: That's the big question. What's the off ramp? Doctor Mark

340
00:17:07,760 --> 00:17:10,800
Speaker 2: and Sulaco at the University up Dton. As always, thanks

341
00:17:10,800 --> 00:17:14,240
Speaker 2: to the inside, appreciate it, Thank you, take care. We've

342
00:17:14,240 --> 00:17:16,239
Speaker 2: got a news update here happening in just minutes as

343
00:17:16,240 --> 00:17:18,399
Speaker 2: we count down to opening Day twenty twenty six on

344
00:17:18,440 --> 00:17:22,439
Speaker 2: seven hundred WLW protein soda. There you go, There you go,

345
00:17:22,480 --> 00:17:25,240
Speaker 2: Sloani here, seven hundred WW. Thanks for joining the show

346
00:17:25,280 --> 00:17:31,080
Speaker 2: this morning. I love the criticism. Talk badly about Trump.

347
00:17:31,160 --> 00:17:33,919
Speaker 2: You get killed by the AMaGA crowd. And if you go, hi, man,

348
00:17:33,960 --> 00:17:35,679
Speaker 2: you know this is something Trump did. It's really good.

349
00:17:35,760 --> 00:17:38,280
Speaker 2: You get killed by the progressive crowd. So that means

350
00:17:38,320 --> 00:17:39,760
Speaker 2: I'm doing what I do here, and that is I

351
00:17:39,880 --> 00:17:42,120
Speaker 2: make my own mind up based on what's happening at

352
00:17:42,119 --> 00:17:46,520
Speaker 2: that exact moment in time. And if you subscribe to

353
00:17:46,560 --> 00:17:49,359
Speaker 2: the political kool aid, and let me back up a second,

354
00:17:49,560 --> 00:17:51,840
Speaker 2: how about some good news? You know, generally news and

355
00:17:51,880 --> 00:17:54,520
Speaker 2: talk great, it's all negative. The world's ending, it's crime,

356
00:17:54,560 --> 00:17:56,400
Speaker 2: it's all my god, we're gonna get This is why

357
00:17:56,440 --> 00:17:57,919
Speaker 2: you got to buy gold and you got to buy

358
00:17:57,920 --> 00:18:00,760
Speaker 2: an emergency medical kid, and you need a raider and

359
00:18:00,920 --> 00:18:04,879
Speaker 2: more gold and how bad are things right now? Some

360
00:18:05,000 --> 00:18:08,080
Speaker 2: perspective for you. And I thought of this because I

361
00:18:08,400 --> 00:18:10,320
Speaker 2: keep hearing and we play them here. But the Thomas

362
00:18:10,320 --> 00:18:15,119
Speaker 2: Massey is I love Thomas Massey as a libertarian leaning person.

363
00:18:16,440 --> 00:18:19,640
Speaker 2: I think he's refreshing we should you know, you should

364
00:18:19,720 --> 00:18:22,520
Speaker 2: call the the other side should be held accountable. Okay,

365
00:18:23,080 --> 00:18:24,840
Speaker 2: but I think it says a lot more if you

366
00:18:24,840 --> 00:18:28,320
Speaker 2: can hold your own side accountable, which he does. However,

367
00:18:28,440 --> 00:18:31,040
Speaker 2: these ads he's running against Ed gall Ryan, and Ed's

368
00:18:31,040 --> 00:18:34,359
Speaker 2: been on the show many times, a great guy. The

369
00:18:34,400 --> 00:18:36,600
Speaker 2: tagline and it is not just a Trump hater a

370
00:18:36,600 --> 00:18:41,879
Speaker 2: Trump trader. Now, I just wonder who that's targeted to.

371
00:18:42,160 --> 00:18:46,359
Speaker 2: Not you, I don't think, or me, because waitn hold on,

372
00:18:46,520 --> 00:18:48,880
Speaker 2: let me christ my. So Trump is endorsing a guy

373
00:18:49,400 --> 00:18:53,359
Speaker 2: that hates him? How does that even How does that

374
00:18:53,400 --> 00:18:56,560
Speaker 2: even make sense? Except in the world of politics. If

375
00:18:56,600 --> 00:19:00,000
Speaker 2: you're so into the political identity that you're a whole

376
00:19:00,119 --> 00:19:02,880
Speaker 2: identity is whether you're a Trump supporter or Trump hater,

377
00:19:04,000 --> 00:19:07,080
Speaker 2: I kind of feel bad for you. Why would he

378
00:19:07,200 --> 00:19:11,000
Speaker 2: endorse then? Why would Trump endorse a guy who hates

379
00:19:11,040 --> 00:19:15,239
Speaker 2: him or is a trader? To maga, it just it

380
00:19:15,240 --> 00:19:18,440
Speaker 2: doesn't make any sense. But it's politics. It's not supposed

381
00:19:18,480 --> 00:19:20,320
Speaker 2: to make any sense. You have the people who tell

382
00:19:20,320 --> 00:19:22,359
Speaker 2: you politics is the most important thing in the world

383
00:19:24,800 --> 00:19:26,840
Speaker 2: really believe this kind of stuff. What makes you think, like,

384
00:19:27,359 --> 00:19:29,920
Speaker 2: am I normal? Or are they abnormal? I think he

385
00:19:30,040 --> 00:19:33,760
Speaker 2: got that right, you're normal. But I mentioned how we

386
00:19:34,040 --> 00:19:36,199
Speaker 2: got to pump the brakes on this whole thing in granted,

387
00:19:36,240 --> 00:19:39,120
Speaker 2: Iran is illustrative of where we are with Donald Trump

388
00:19:39,160 --> 00:19:41,480
Speaker 2: right now. I was like, from one minute to the next,

389
00:19:41,480 --> 00:19:44,159
Speaker 2: it's a different story. We wipe them completely out, they

390
00:19:44,200 --> 00:19:45,600
Speaker 2: have no nukes left, but we got to go get

391
00:19:45,600 --> 00:19:48,040
Speaker 2: the nukes. You know, We're going to do this all

392
00:19:48,080 --> 00:19:50,159
Speaker 2: from a tactical position, and we're going to strike them

393
00:19:50,240 --> 00:19:52,199
Speaker 2: until they scream uncle. And we're going to put our

394
00:19:52,240 --> 00:19:53,960
Speaker 2: own people in there and they're going to go with it.

395
00:19:54,040 --> 00:19:56,760
Speaker 2: And that's not happening. And also, no boots on the

396
00:19:56,800 --> 00:20:00,120
Speaker 2: ground except for all the Marines we're sending there. Okay,

397
00:20:00,600 --> 00:20:04,480
Speaker 2: that only maybe makes sense and true social but the

398
00:20:04,520 --> 00:20:06,600
Speaker 2: reality is this. I mean, you think the sky is

399
00:20:06,640 --> 00:20:10,199
Speaker 2: falling for you, it probably is because we live in

400
00:20:10,240 --> 00:20:13,840
Speaker 2: a it's like a vibe pression, right, Vibe depression will

401
00:20:13,840 --> 00:20:19,399
Speaker 2: call this trademark, like consumer sentiment has. Right now, consumer

402
00:20:19,440 --> 00:20:21,880
Speaker 2: sentiment is below where we were in the financial crisis

403
00:20:21,920 --> 00:20:23,960
Speaker 2: of two thousand and eight, below where we were in

404
00:20:24,000 --> 00:20:27,920
Speaker 2: the pandemic of twenty twenty. Despite if you look at

405
00:20:27,920 --> 00:20:32,520
Speaker 2: the numbers, they're pretty good The biggest driver to where

406
00:20:32,560 --> 00:20:34,560
Speaker 2: you think the economy is great or it's awful is

407
00:20:34,960 --> 00:20:38,600
Speaker 2: party affiliation. Economic perception now tracks who's in the White

408
00:20:38,640 --> 00:20:41,600
Speaker 2: House more than actually what's in your paycheck. And obviously

409
00:20:41,640 --> 00:20:44,520
Speaker 2: Democrats are more negative on the economy now than Republicans

410
00:20:44,520 --> 00:20:46,680
Speaker 2: were under Biden, which proves the point.

411
00:20:49,200 --> 00:20:50,440
Speaker 4: And so it gets back to that.

412
00:20:50,720 --> 00:20:54,120
Speaker 2: Thomas masseyad both sides have done complete one to eighty

413
00:20:54,119 --> 00:20:56,280
Speaker 2: and the economy hasn't moved. Trump called Biden's economy in

414
00:20:56,359 --> 00:20:59,960
Speaker 2: nightmares a candidate and now says America's economy is bigger, better,

415
00:21:00,040 --> 00:21:02,520
Speaker 2: and rich are stronger than ever. Democrats went from Harris

416
00:21:02,520 --> 00:21:04,639
Speaker 2: bragging it was the strongest commomy in the world, just

417
00:21:04,640 --> 00:21:06,560
Speaker 2: screaming affordability crisis.

418
00:21:07,000 --> 00:21:07,560
Speaker 4: Well, guess what.

419
00:21:07,920 --> 00:21:11,600
Speaker 2: Let's look at the actual numbers. They're almost identical year

420
00:21:11,920 --> 00:21:16,359
Speaker 2: over year across every major metric. Almost all major metrics,

421
00:21:17,320 --> 00:21:22,840
Speaker 2: so GDP growth, unemployment, inflation, real wages, mortgage rates, the

422
00:21:22,880 --> 00:21:27,480
Speaker 2: budget deficit, all were in the measurement era of twenty

423
00:21:27,480 --> 00:21:30,240
Speaker 2: twenty four. Levels real purchasing power wages grew one point

424
00:21:30,280 --> 00:21:35,280
Speaker 2: four percent. It grew one point to under Biden. Tariffs

425
00:21:35,320 --> 00:21:39,760
Speaker 2: read roughly added a half point to inflation, painful, but

426
00:21:39,840 --> 00:21:45,280
Speaker 2: nowhere near the economic armageddon that democrats predicted. On either

427
00:21:45,359 --> 00:21:48,960
Speaker 2: side about ninety percent years, economy has a little involvement

428
00:21:48,960 --> 00:21:53,400
Speaker 2: in trade. Most Americans didn't meaningfully change their behavior over tariffs.

429
00:21:54,160 --> 00:21:56,880
Speaker 2: Gas will do that, for sure, but tariff's not so much.

430
00:21:56,920 --> 00:21:58,840
Speaker 2: And Gretin, who hell wants to pay more when you

431
00:21:58,840 --> 00:22:02,760
Speaker 2: promise everything would be cheaper. AI has been a disruptor,

432
00:22:02,760 --> 00:22:05,080
Speaker 2: but it hasn't moved the macro needle despite all the hype.

433
00:22:06,280 --> 00:22:09,120
Speaker 2: And yeah, the war is hurting us consumers, but markets

434
00:22:09,320 --> 00:22:12,120
Speaker 2: expect us to be temporary. This is not nineteen seventy nine.

435
00:22:12,160 --> 00:22:13,960
Speaker 2: We'll talk about that later in the show with Andy

436
00:22:13,960 --> 00:22:17,080
Speaker 2: Shaeffer at eleven thirty five with all Worth first perspective

437
00:22:17,119 --> 00:22:19,840
Speaker 2: on this one. But why is consumer cent it done?

438
00:22:19,920 --> 00:22:23,159
Speaker 2: Because you know, if you think it's bad, it's bad.

439
00:22:23,920 --> 00:22:26,000
Speaker 2: You know your wallet didn't change when the rieter changed,

440
00:22:26,040 --> 00:22:29,000
Speaker 2: but your moon might have. And the economy is it's

441
00:22:29,040 --> 00:22:32,119
Speaker 2: an ocean liner, it's not a it's not a speedboat.

442
00:22:33,359 --> 00:22:35,840
Speaker 2: And presidents take a lot of credit and dis themselves

443
00:22:35,960 --> 00:22:38,760
Speaker 2: all the time from the bad, but presidents move it

444
00:22:38,880 --> 00:22:41,480
Speaker 2: far far less. And either side wants you to believe,

445
00:22:42,480 --> 00:22:44,520
Speaker 2: and that is true whether it's a Democrat or Republican,

446
00:22:44,760 --> 00:22:46,440
Speaker 2: And we'll take all the credit when things are going

447
00:22:46,440 --> 00:22:48,240
Speaker 2: well and it's the other guy's fault when it's not,

448
00:22:49,040 --> 00:22:51,040
Speaker 2: Like how much longer can you keep lemming Biden for

449
00:22:51,080 --> 00:22:52,960
Speaker 2: stuff after your office for a year?

450
00:22:54,320 --> 00:22:54,600
Speaker 6: Okay?

451
00:22:54,640 --> 00:22:56,280
Speaker 2: At some point it's like, all right, yeah, we'll give

452
00:22:56,320 --> 00:22:58,399
Speaker 2: you like the first six eight months, but after that,

453
00:22:58,440 --> 00:23:00,960
Speaker 2: when you're a year in, you to own that economy.

454
00:23:01,760 --> 00:23:04,760
Speaker 2: And I think it's fair and reasonable to hold to

455
00:23:04,960 --> 00:23:07,080
Speaker 2: the standards on which you promise, which you ran on,

456
00:23:07,080 --> 00:23:10,840
Speaker 2: whether it's Biden or whether it's Trump. But again, the

457
00:23:10,840 --> 00:23:13,480
Speaker 2: problem is politics. The politics is clouding a lot of

458
00:23:13,480 --> 00:23:16,640
Speaker 2: people's judgment in this thing that you look at and go, wow,

459
00:23:16,640 --> 00:23:20,119
Speaker 2: it's you know, if Biden, if Kamala Harrison won and

460
00:23:20,200 --> 00:23:21,679
Speaker 2: let's say, hey, you know, we're going to raise everyone's

461
00:23:21,720 --> 00:23:24,119
Speaker 2: taxes to pay for all these programs we want. I

462
00:23:24,119 --> 00:23:26,480
Speaker 2: wonder how many people who are progressives wouldn't think twice

463
00:23:26,520 --> 00:23:28,200
Speaker 2: about it, going, oh, yeah, we're gonna say, but you're

464
00:23:28,200 --> 00:23:30,000
Speaker 2: paying more money, more money is coming out. Yeah, but

465
00:23:30,000 --> 00:23:32,720
Speaker 2: it's for something I believe in. Okay, So how is

466
00:23:32,720 --> 00:23:36,960
Speaker 2: that any different than those people who wanted the Iran decapitated.

467
00:23:38,040 --> 00:23:40,400
Speaker 2: You know, can we I got okay, I gotta pay

468
00:23:40,400 --> 00:23:43,960
Speaker 2: harder gas prices a while, But but there's hope there.

469
00:23:44,880 --> 00:23:47,280
Speaker 2: And on either side there's probably not not much as changing.

470
00:23:47,280 --> 00:23:49,720
Speaker 2: I mean, you're really gonna you think Iran's is simply

471
00:23:49,720 --> 00:23:51,040
Speaker 2: going to wake up one day and they're gonna look

472
00:23:51,080 --> 00:23:55,600
Speaker 2: like Canada Now, not gonna happen. I almost assure that.

473
00:23:56,040 --> 00:23:58,520
Speaker 2: But we are sitting down and negotiating. But we weren't

474
00:23:58,560 --> 00:24:01,000
Speaker 2: negotiating because they're dead. But now they're alive and we're

475
00:24:01,000 --> 00:24:02,760
Speaker 2: talking to people like it makes no sense. And now

476
00:24:02,800 --> 00:24:05,040
Speaker 2: if you've started adding more people or more troops on

477
00:24:05,080 --> 00:24:07,320
Speaker 2: the ground, that's the problem right there, and that we

478
00:24:07,359 --> 00:24:10,640
Speaker 2: cannot have because something like sixty percent of us, sixty

479
00:24:10,680 --> 00:24:13,280
Speaker 2: percent of Americans do not want that at all, don't

480
00:24:13,320 --> 00:24:16,119
Speaker 2: want it at all, whether you're a Democrat or republic

481
00:24:16,200 --> 00:24:19,000
Speaker 2: and that's a growing number with each and every passing day.

482
00:24:19,640 --> 00:24:21,760
Speaker 2: So just a little perspective here, the glass half full,

483
00:24:21,760 --> 00:24:23,639
Speaker 2: half empty, that's what the glass looks like. It's actually

484
00:24:23,720 --> 00:24:25,360
Speaker 2: it's a glass, and you decide I it's half full

485
00:24:25,440 --> 00:24:27,520
Speaker 2: or empty. And right now, too many people are thinking

486
00:24:27,520 --> 00:24:29,480
Speaker 2: the glass is half empty when it's it's really not.

487
00:24:29,600 --> 00:24:32,320
Speaker 2: It's the same glass. It's the same almost the same

488
00:24:32,320 --> 00:24:33,000
Speaker 2: amount of liquid.

489
00:24:33,000 --> 00:24:33,480
Speaker 4: It's damn.

490
00:24:33,680 --> 00:24:35,919
Speaker 2: You look at the you know, some things have gone up,

491
00:24:35,960 --> 00:24:38,919
Speaker 2: some things have gone down, but it's a trade off.

492
00:24:39,600 --> 00:24:43,040
Speaker 2: The overall economy is still really really strong despite what

493
00:24:43,200 --> 00:24:44,879
Speaker 2: you may think. And yeah, gas is a pain in

494
00:24:44,920 --> 00:24:47,200
Speaker 2: the button. Tariffs have added to that, but we seem

495
00:24:47,240 --> 00:24:51,440
Speaker 2: to be absorbing it, which is which is good. Boy,

496
00:24:51,440 --> 00:24:53,520
Speaker 2: here's a dumb person. This is gonna be the dumbest

497
00:24:53,520 --> 00:24:55,280
Speaker 2: person ever did Are you a fan or Reacher?

498
00:24:55,640 --> 00:24:55,840
Speaker 6: On?

499
00:24:56,080 --> 00:24:56,320
Speaker 5: Uh?

500
00:24:56,680 --> 00:25:00,359
Speaker 2: Was on Amazon? You know, I am all of about

501
00:25:00,680 --> 00:25:08,639
Speaker 2: mindless violence, just inhuman I watched a movie over the

502
00:25:08,640 --> 00:25:11,520
Speaker 2: weekend just like that, and like once in a while,

503
00:25:11,520 --> 00:25:14,160
Speaker 2: it just hits like it's a stupid movie. The premise

504
00:25:14,240 --> 00:25:17,120
Speaker 2: is dumb, but there's a lot of ass whooping going

505
00:25:17,160 --> 00:25:20,399
Speaker 2: on and sometimes you just need that, like the good guys.

506
00:25:20,560 --> 00:25:22,360
Speaker 2: And when Mary talking about this, the more you see

507
00:25:22,359 --> 00:25:24,600
Speaker 2: of those you know, hero kind of guys out there,

508
00:25:25,040 --> 00:25:27,639
Speaker 2: the enforcers that people you know, way back in the

509
00:25:27,640 --> 00:25:29,560
Speaker 2: old old days, you know, guy like Chuck Bronson make

510
00:25:29,600 --> 00:25:31,639
Speaker 2: those movies when the you know, the seventies, when the

511
00:25:31,640 --> 00:25:34,440
Speaker 2: streets of New York and other big cities were burning basically,

512
00:25:34,440 --> 00:25:36,320
Speaker 2: and it was crime was out of control, the economy

513
00:25:36,359 --> 00:25:38,679
Speaker 2: was bad, and so you need these everyday men to

514
00:25:38,680 --> 00:25:40,680
Speaker 2: step up and you know, fight the bad guys because

515
00:25:40,720 --> 00:25:43,520
Speaker 2: the good guys aren't like we have in Cincinnati right now.

516
00:25:43,600 --> 00:25:45,560
Speaker 2: You know, the bad guys are run around. Do what

517
00:25:45,600 --> 00:25:48,399
Speaker 2: that bad guys do. You kind of like need a

518
00:25:48,480 --> 00:25:50,960
Speaker 2: vigilante type out there to set things straight, and Reacher

519
00:25:51,040 --> 00:25:52,199
Speaker 2: is kind of that guy. If you're a fan of

520
00:25:52,200 --> 00:25:56,080
Speaker 2: that show. The actor's name is Alan Richson, and from

521
00:25:56,119 --> 00:25:57,600
Speaker 2: what I've read about the guy, he's being a big

522
00:25:57,600 --> 00:25:59,680
Speaker 2: fan of show. He's like the nicest guy in the world,

523
00:25:59,720 --> 00:26:01,840
Speaker 2: like those church hangs out neighborhood just like you know,

524
00:26:02,000 --> 00:26:03,680
Speaker 2: just an every day guy, a Shuck's kind of guy.

525
00:26:05,560 --> 00:26:08,000
Speaker 2: But his job in the TV show reachur in some

526
00:26:08,000 --> 00:26:09,879
Speaker 2: of the other movies. He's then actually made a movie

527
00:26:09,920 --> 00:26:11,879
Speaker 2: I watched a couple of weekends ago that was just

528
00:26:12,080 --> 00:26:13,240
Speaker 2: purely awful.

529
00:26:14,400 --> 00:26:16,359
Speaker 4: That he was in. I think his first not a

530
00:26:16,480 --> 00:26:19,439
Speaker 4: major motion picture, but it was. It was terrible.

531
00:26:20,160 --> 00:26:22,520
Speaker 2: He's trying to get back into the Armated military because

532
00:26:22,520 --> 00:26:25,639
Speaker 2: his brother died, and then anyway, winds up like on

533
00:26:25,960 --> 00:26:28,919
Speaker 2: some sort of mission and it's a practice thing, except

534
00:26:28,920 --> 00:26:31,639
Speaker 2: it turns into aliens invade America. Like I don't know

535
00:26:31,640 --> 00:26:34,280
Speaker 2: what's going on here. I lost interest, but Alan Richmond

536
00:26:34,320 --> 00:26:35,320
Speaker 2: and rich is fantastic.

537
00:26:36,920 --> 00:26:37,439
Speaker 4: So he is.

538
00:26:38,240 --> 00:26:41,120
Speaker 2: There's video on TMZ of this. And he's a big boy,

539
00:26:41,200 --> 00:26:44,399
Speaker 2: I mean, Alan Richman is. He's a house. He's a

540
00:26:44,440 --> 00:26:49,400
Speaker 2: freaking house. And he's going through his neighborhood on his

541
00:26:49,480 --> 00:26:51,960
Speaker 2: motorcycle with I guess kids. I guess his kids maybe

542
00:26:51,960 --> 00:26:53,600
Speaker 2: were there. This is a Nashville right down the road

543
00:26:53,600 --> 00:26:57,240
Speaker 2: from us here, and he's the neighbor that the angry

544
00:26:57,240 --> 00:26:59,120
Speaker 2: neighbor said. He's driving up and down on his bike

545
00:26:59,200 --> 00:27:02,720
Speaker 2: excessive speed, revving his engine, disturbing the piece, and so

546
00:27:02,880 --> 00:27:07,919
Speaker 2: he flips off Alan Richson, and Alan Richon well returns.

547
00:27:07,520 --> 00:27:08,960
Speaker 4: The gester flips him back off.

548
00:27:10,119 --> 00:27:12,720
Speaker 2: So the next day or daily he comes to driving

549
00:27:12,840 --> 00:27:16,040
Speaker 2: back down and apparently the victim of the alleged victim,

550
00:27:16,080 --> 00:27:20,600
Speaker 2: Ronnie Taylor said, Alan Richard was riding his Kawasaki through

551
00:27:20,600 --> 00:27:24,200
Speaker 2: the quiet Well to do national suburbs, flying at excessive

552
00:27:24,240 --> 00:27:26,040
Speaker 2: speed and revving his engine and all these things.

553
00:27:26,720 --> 00:27:28,119
Speaker 4: And he's with his kids.

554
00:27:28,240 --> 00:27:29,679
Speaker 2: So I don't know if he's doing that or not,

555
00:27:29,760 --> 00:27:33,720
Speaker 2: but nonetheless, all this this guy comes up Rodnie Taylor

556
00:27:33,800 --> 00:27:38,520
Speaker 2: and pushes him off his motors, up his motorcycle and

557
00:27:38,520 --> 00:27:40,560
Speaker 2: then hits him two more times, at which point is

558
00:27:40,600 --> 00:27:46,439
Speaker 2: when a neighbor starts recording this. And it looks like

559
00:27:46,560 --> 00:27:50,560
Speaker 2: a dad fight and a toddler because you see this

560
00:27:50,640 --> 00:27:52,639
Speaker 2: guy down on one of ay and and Alan Richin

561
00:27:52,800 --> 00:27:54,400
Speaker 2: is just pommeling this guy.

562
00:27:55,119 --> 00:27:59,120
Speaker 4: So he's on video on TMZ and he looks like.

563
00:28:00,680 --> 00:28:02,639
Speaker 7: You know, the before and after, except this is the

564
00:28:02,680 --> 00:28:05,280
Speaker 7: after is not really good. He's got a shot, he's all.

565
00:28:05,359 --> 00:28:08,200
Speaker 7: He's all, he's beat to hell. Guy looks like he's

566
00:28:08,240 --> 00:28:12,119
Speaker 7: been through it. But how dumb are you? I bad

567
00:28:12,200 --> 00:28:12,440
Speaker 7: get it.

568
00:28:12,560 --> 00:28:14,840
Speaker 2: Somebody's speeding up and down, but he wondered this guy

569
00:28:15,680 --> 00:28:17,560
Speaker 2: is all, does he got it all together? And again,

570
00:28:17,600 --> 00:28:19,480
Speaker 2: it doesn't matter if you live in the poorest neighborhoods

571
00:28:19,560 --> 00:28:22,639
Speaker 2: or the wealthiest neighborhoods, there's always that guy. I just

572
00:28:22,640 --> 00:28:25,000
Speaker 2: got to feel in this. Ronnie Taylor's that guy. Like

573
00:28:25,080 --> 00:28:27,879
Speaker 2: he's driving. Okay, is the bike a little loud? Maybe

574
00:28:27,920 --> 00:28:31,040
Speaker 2: you're disturbing the piece. You're speeding up and down Okay,

575
00:28:31,080 --> 00:28:32,639
Speaker 2: so maybe you're going a couple of miles over the

576
00:28:32,640 --> 00:28:35,160
Speaker 2: speed limit. I mean, I'm probably not driving eighty ninety

577
00:28:35,280 --> 00:28:38,080
Speaker 2: up and down the street. But he responds to me, going,

578
00:28:38,080 --> 00:28:40,719
Speaker 2: hey man, you know it's kind of quiet. He flips

579
00:28:40,720 --> 00:28:43,400
Speaker 2: the guy off, so that starts, and then then he

580
00:28:43,480 --> 00:28:46,280
Speaker 2: comes back around and this guy shoves reach her off

581
00:28:46,280 --> 00:28:48,000
Speaker 2: his bike. Well, what do you think is gonna happen?

582
00:28:48,240 --> 00:28:52,360
Speaker 2: F around and find out. Yeah, I just I live

583
00:28:52,440 --> 00:28:54,680
Speaker 2: the story went, I don't really have a dog in

584
00:28:54,720 --> 00:28:57,240
Speaker 2: the sun. It's interesting, But why would you pick a

585
00:28:57,280 --> 00:28:59,320
Speaker 2: fight with that dude? And he said, I had no

586
00:28:59,320 --> 00:29:02,000
Speaker 2: idea who he would. I don't know even if you

587
00:29:02,000 --> 00:29:03,880
Speaker 2: didn't know who he was. And he's an actor, he's

588
00:29:03,920 --> 00:29:08,120
Speaker 2: playing a tough guy. He's still a big dude.

589
00:29:08,320 --> 00:29:08,520
Speaker 5: You know.

590
00:29:08,640 --> 00:29:11,120
Speaker 4: You mess around with that, you gotta gets your ass whooped.

591
00:29:13,640 --> 00:29:15,680
Speaker 2: There's another one I can't figure out too. This is

592
00:29:16,560 --> 00:29:18,760
Speaker 2: this is another story. You need more information of it.

593
00:29:19,640 --> 00:29:22,600
Speaker 2: This guy name is Dayton Weber. He's twenty seven. He

594
00:29:22,680 --> 00:29:26,960
Speaker 2: is a professional cornhole player. He is on the tour,

595
00:29:27,080 --> 00:29:31,680
Speaker 2: the Cornhole Tour, whatever the cornhole tour is, and he

596
00:29:31,800 --> 00:29:35,120
Speaker 2: is now in jail in Maryland charged with first degree murder.

597
00:29:36,520 --> 00:29:40,480
Speaker 2: So the dude's rolling in his car and he's got witnesses,

598
00:29:40,520 --> 00:29:43,480
Speaker 2: he's got people in the back seat, and the victim

599
00:29:43,920 --> 00:29:47,040
Speaker 2: is also a twenty seven year old man named Brad Wells,

600
00:29:47,520 --> 00:29:50,520
Speaker 2: and mister Wells was shot by Dayton Webber, the cornhole guy,

601
00:29:50,600 --> 00:29:53,240
Speaker 2: the front seat passenger. They got in an argument while

602
00:29:53,360 --> 00:29:55,720
Speaker 2: Weber is driving. Maybe I don't know who they're fighting over, reacher,

603
00:29:55,800 --> 00:29:59,960
Speaker 2: I don't know, maybe fighting about the Iran war. Shoot

604
00:30:00,160 --> 00:30:02,360
Speaker 2: the guy dead in his own car, the corn hole

605
00:30:02,400 --> 00:30:05,680
Speaker 2: professional and fled with the body still in the car.

606
00:30:06,080 --> 00:30:09,280
Speaker 2: After the backseat passengers refuse to help get rid of

607
00:30:09,280 --> 00:30:10,920
Speaker 2: the body. It's like, I need you to help me

608
00:30:10,960 --> 00:30:12,720
Speaker 2: get rid of this guy and just shot. Like, no,

609
00:30:12,760 --> 00:30:14,760
Speaker 2: we're not doing that. What we are going to do

610
00:30:15,040 --> 00:30:18,320
Speaker 2: is go right to the police. Here is the increased

611
00:30:18,320 --> 00:30:21,040
Speaker 2: difficulty level on this crime. Sorry, what's the big deal?

612
00:30:21,280 --> 00:30:24,280
Speaker 2: Corn professional goal or player murder someone? I suppose cornhole

613
00:30:24,280 --> 00:30:28,360
Speaker 2: players can get angry, Sure, why not? The dude is

614
00:30:28,400 --> 00:30:35,840
Speaker 2: a quadruple amputee. Now I know we have prosthetics and

615
00:30:35,880 --> 00:30:39,440
Speaker 2: things like that, but the quadruple amptit ampute driving a

616
00:30:39,480 --> 00:30:43,360
Speaker 2: car and while driving the car also a professional cornhole

617
00:30:43,400 --> 00:30:47,960
Speaker 2: player while while driving the car, somehow is able to

618
00:30:47,960 --> 00:30:51,800
Speaker 2: get a gun and shoot this guy. And the biggest

619
00:30:51,880 --> 00:30:58,600
Speaker 2: question you have is how how a would a quad ampute?

620
00:30:58,840 --> 00:31:00,920
Speaker 2: I have no idea how that works. I'm not making

621
00:31:00,960 --> 00:31:05,200
Speaker 2: fun of the contition. I'm just curious. You're driving and

622
00:31:05,280 --> 00:31:08,800
Speaker 2: shooting a guy and you play cornwall professionally pretty good,

623
00:31:09,880 --> 00:31:12,520
Speaker 2: maybe like an Oscar Pistorius kind of thing, you know,

624
00:31:12,520 --> 00:31:15,920
Speaker 2: the blade runner thing, but that one is like leaving Huh,

625
00:31:16,560 --> 00:31:18,400
Speaker 2: I wonder what that looked like exactly.

626
00:31:18,640 --> 00:31:21,320
Speaker 4: That's exactly what I wonder. Do we have video?

627
00:31:21,680 --> 00:31:23,920
Speaker 2: I kind of need to see some video there, just

628
00:31:24,160 --> 00:31:26,719
Speaker 2: asking we got news on the way in just minutes.

629
00:31:26,800 --> 00:31:29,400
Speaker 4: And then as we focus.

630
00:31:29,080 --> 00:31:32,200
Speaker 2: About Iran and you know, possible lone wolf attacks and

631
00:31:32,720 --> 00:31:35,520
Speaker 2: maybe nuclear salts and dirty bombs and all these things

632
00:31:35,560 --> 00:31:37,960
Speaker 2: that were scared to death of are we not paying

633
00:31:38,000 --> 00:31:41,080
Speaker 2: attention to the obvious? Based on what happened with Striker

634
00:31:41,160 --> 00:31:44,280
Speaker 2: Medical Devices and most recently Microsoft in that attack. Is

635
00:31:44,720 --> 00:31:47,800
Speaker 2: our buddy Chris Nihi, CEO of Cincinnia based Vision in Cybersecurity,

636
00:31:47,840 --> 00:31:50,120
Speaker 2: has done some research and you're not going to believe

637
00:31:50,160 --> 00:31:55,440
Speaker 2: what he found out relative to now computer code being

638
00:31:55,480 --> 00:31:58,720
Speaker 2: infected with malware. Nobody knows about it. He just did

639
00:31:58,720 --> 00:32:00,920
Speaker 2: some investigation and broke this. Don't share that with you. Next,

640
00:32:00,960 --> 00:32:04,000
Speaker 2: and why we should be more concerned about hackers then

641
00:32:04,040 --> 00:32:06,720
Speaker 2: we should be about bombers. Next Scott's Loan Show, seven

642
00:32:06,800 --> 00:32:08,080
Speaker 2: hundred WW Cincinnati.

643
00:32:08,400 --> 00:32:11,360
Speaker 1: Do you want to be an American slill?

644
00:32:11,480 --> 00:32:13,160
Speaker 4: Be back on seven hundred WLW.

645
00:32:13,280 --> 00:32:15,800
Speaker 2: I don't know if you know this word war trying

646
00:32:15,800 --> 00:32:17,440
Speaker 2: to get out of it, but so we are definitely

647
00:32:17,440 --> 00:32:20,160
Speaker 2: in it. And you know, we're concerned about attacks in

648
00:32:20,200 --> 00:32:22,080
Speaker 2: the homeland, lone wolf attacks and things like that. The

649
00:32:22,080 --> 00:32:25,040
Speaker 2: biggest one is, you know, cyber attacks. And remember a

650
00:32:25,080 --> 00:32:27,479
Speaker 2: couple of weeks ago, if that we had the attack

651
00:32:27,520 --> 00:32:30,360
Speaker 2: on Striker, the medical company, and they're still trying to

652
00:32:30,400 --> 00:32:34,160
Speaker 2: dig out from that. An Iranian linked hacking group called

653
00:32:34,440 --> 00:32:38,520
Speaker 2: three thirteen team claim responsibility for Microsoft's three sixty five

654
00:32:38,560 --> 00:32:41,520
Speaker 2: out it just last week, saying the knocked out service

655
00:32:41,560 --> 00:32:44,400
Speaker 2: for five hours and wanted to extend the attack. And

656
00:32:44,400 --> 00:32:46,200
Speaker 2: it looked like it's fine. They were able to fix that.

657
00:32:46,280 --> 00:32:48,920
Speaker 2: But these things might be part of a big one

658
00:32:49,000 --> 00:32:51,760
Speaker 2: yet to come. And he's uncovered something that indicates that

659
00:32:51,760 --> 00:32:53,600
Speaker 2: that is true. His name is Chris Nihisk. He is

660
00:32:53,640 --> 00:32:57,080
Speaker 2: the CEO of Cincinnati based Vigilant Cybersecurity, joined to the

661
00:32:57,080 --> 00:32:58,840
Speaker 2: show this morning. Chris, welcome, how are you.

662
00:32:59,840 --> 00:33:01,440
Speaker 6: I'm doing great, Scotts, good to be here.

663
00:33:01,760 --> 00:33:04,080
Speaker 2: So real quick, let's back up Microsoft, and I remember

664
00:33:04,080 --> 00:33:06,080
Speaker 2: three sixty five wasn't work. I was getting mail and

665
00:33:06,120 --> 00:33:07,880
Speaker 2: it affect a lot of people, but it was kind

666
00:33:07,880 --> 00:33:10,280
Speaker 2: of a blitz. It wasn't a huge outage, right, Like

667
00:33:10,680 --> 00:33:14,120
Speaker 2: we're talking like Striker that was. That was a massive attack,

668
00:33:14,160 --> 00:33:16,920
Speaker 2: shutting that company down essentially. Let's back up to that.

669
00:33:16,920 --> 00:33:20,400
Speaker 2: Then with Striker, these stories get reported. Yeah, they had

670
00:33:20,440 --> 00:33:23,400
Speaker 2: all their data taken away and they completely deleted the

671
00:33:23,400 --> 00:33:26,920
Speaker 2: hard drives and they have all their data and Striker

672
00:33:26,960 --> 00:33:29,320
Speaker 2: has nothing. Can you tell me what's going on inside

673
00:33:29,320 --> 00:33:32,080
Speaker 2: Striker today now that we're not paying attention to it anymore,

674
00:33:32,080 --> 00:33:33,360
Speaker 2: are they able to function?

675
00:33:34,600 --> 00:33:34,800
Speaker 6: Right?

676
00:33:34,840 --> 00:33:37,040
Speaker 8: I mean, so they're they're they're coming back online. They're

677
00:33:37,080 --> 00:33:39,560
Speaker 8: working through that. And that's how these these things happen,

678
00:33:39,600 --> 00:33:42,760
Speaker 8: is they take down the operations of an organization and

679
00:33:42,800 --> 00:33:46,240
Speaker 8: then that organization start to you know, bring themselves back on.

680
00:33:46,320 --> 00:33:48,640
Speaker 8: Now there's not a lot of information coming out of Striker,

681
00:33:49,320 --> 00:33:51,520
Speaker 8: and you know, and and I understand why they don't

682
00:33:51,520 --> 00:33:54,080
Speaker 8: want to really release a lot of opsect types of

683
00:33:54,280 --> 00:33:57,640
Speaker 8: types of things of what they're doing or even what happened.

684
00:33:57,680 --> 00:34:00,920
Speaker 8: And I'm sure that the US Department Defense is not

685
00:34:01,000 --> 00:34:02,720
Speaker 8: letting them say a lot of things either because it's

686
00:34:02,720 --> 00:34:06,000
Speaker 8: so connected. But you know, it is it is going

687
00:34:06,040 --> 00:34:07,960
Speaker 8: to be a long road for them to bring things

688
00:34:08,000 --> 00:34:08,759
Speaker 8: back online.

689
00:34:09,040 --> 00:34:09,919
Speaker 4: Okay, fair enough.

690
00:34:10,960 --> 00:34:13,440
Speaker 2: Then on we had the Microsoft out just last week,

691
00:34:13,480 --> 00:34:15,239
Speaker 2: and like I said, I we were affected by a

692
00:34:15,239 --> 00:34:17,080
Speaker 2: little bit, but that wasn't really a big one.

693
00:34:16,920 --> 00:34:18,120
Speaker 9: Was it.

694
00:34:18,120 --> 00:34:19,640
Speaker 8: It wasn't a big one. And then in fact, that

695
00:34:19,680 --> 00:34:22,200
Speaker 8: actually happened again yesterday. So there were last week there

696
00:34:22,200 --> 00:34:26,320
Speaker 8: were two outages with Microsoft, you know, with different products

697
00:34:26,320 --> 00:34:29,200
Speaker 8: that they have. You know, there was an a rainy

698
00:34:29,200 --> 00:34:31,799
Speaker 8: group that came out that said that they were attributed

699
00:34:31,800 --> 00:34:34,479
Speaker 8: to it. Microsoft has not released that yet and they've

700
00:34:34,520 --> 00:34:38,000
Speaker 8: actually kept they keep saying that it was an internal issue.

701
00:34:38,360 --> 00:34:42,440
Speaker 8: And then yesterday they had another outage that they said

702
00:34:42,560 --> 00:34:46,239
Speaker 8: was because of a virtual assistant that they deployed that

703
00:34:46,400 --> 00:34:49,239
Speaker 8: caused it. Just it was buggy and it took things

704
00:34:49,280 --> 00:34:52,120
Speaker 8: down again. So in the last few weeks, Microsoft's had

705
00:34:52,160 --> 00:34:54,600
Speaker 8: two outages. Now the thing that's important to note here

706
00:34:55,320 --> 00:34:57,920
Speaker 8: is whether it's attributed to a threat actor or not,

707
00:34:59,239 --> 00:35:01,359
Speaker 8: it's still It's something you and I've been talking about

708
00:35:01,400 --> 00:35:03,560
Speaker 8: for a long time here is that so many organizations

709
00:35:03,600 --> 00:35:06,480
Speaker 8: have put all their eggs in one basket or just

710
00:35:06,560 --> 00:35:10,239
Speaker 8: a few, and so when these applications go down, your

711
00:35:10,560 --> 00:35:14,080
Speaker 8: entire business halts. And so you know, the real big

712
00:35:14,080 --> 00:35:17,960
Speaker 8: things to learn here from Microsoft is, you know, make

713
00:35:18,000 --> 00:35:22,319
Speaker 8: sure that you've got redundancy in your organization. Now there

714
00:35:22,360 --> 00:35:24,520
Speaker 8: are going to be and we'll talk about some more

715
00:35:24,560 --> 00:35:26,600
Speaker 8: stuff here in a second, but there's going to be

716
00:35:26,640 --> 00:35:28,600
Speaker 8: more and more attacks. So like we just we just

717
00:35:28,719 --> 00:35:31,279
Speaker 8: know that that's going to happen, that will continue to

718
00:35:31,320 --> 00:35:36,000
Speaker 8: happen even beyond the ramp, right, And and the one

719
00:35:36,040 --> 00:35:40,080
Speaker 8: thing that's interesting here too is these attacks just don't happen.

720
00:35:40,520 --> 00:35:43,239
Speaker 8: Like you know, with the Striker for instance, more than

721
00:35:43,440 --> 00:35:47,880
Speaker 8: likely they were inside Striker's environment for months, more than likely.

722
00:35:48,000 --> 00:35:49,600
Speaker 8: You know, I think we'll you know, we find that

723
00:35:49,640 --> 00:35:52,800
Speaker 8: out with almost every breach. The average time and attackers

724
00:35:52,800 --> 00:35:54,680
Speaker 8: in a company is two in eighty seven days. So

725
00:35:55,320 --> 00:35:59,239
Speaker 8: they were in that environment more than likely. Right, if

726
00:35:59,360 --> 00:36:01,480
Speaker 8: statistics go way before we.

727
00:36:01,440 --> 00:36:04,719
Speaker 2: Even attack your RM Okay, so that makes sense. All

728
00:36:04,719 --> 00:36:06,600
Speaker 2: this stuff's coming together. And as we said, you know,

729
00:36:06,640 --> 00:36:09,640
Speaker 2: with the Iran war, Chris, you know, we're focused on

730
00:36:09,680 --> 00:36:12,360
Speaker 2: missiles and bombs and terrorist attacks and things like that,

731
00:36:12,440 --> 00:36:15,319
Speaker 2: of course, but the cyber ones to simply go by

732
00:36:15,360 --> 00:36:17,320
Speaker 2: the wayside, you know, okay, strike and people have largely

733
00:36:17,360 --> 00:36:19,800
Speaker 2: forgotten about that. It feels to me like we should

734
00:36:19,800 --> 00:36:24,200
Speaker 2: be more concerned about this than actual physical bombs and

735
00:36:24,239 --> 00:36:26,480
Speaker 2: missiles as opposed to cyber attacks.

736
00:36:27,360 --> 00:36:30,160
Speaker 8: Well, I think we should, you know, and you know,

737
00:36:30,200 --> 00:36:34,520
Speaker 8: we have a i would say, very very soft underbelly

738
00:36:35,040 --> 00:36:37,799
Speaker 8: that a lot of people don't that aren't aware of.

739
00:36:38,080 --> 00:36:41,440
Speaker 8: And when it comes to cybersecurity, you know, bombs and

740
00:36:41,480 --> 00:36:44,440
Speaker 8: missiles in some ways that and that's more. You know,

741
00:36:44,440 --> 00:36:48,839
Speaker 8: it's called kinetic warfare. That type of kinetic warfare in

742
00:36:48,880 --> 00:36:50,959
Speaker 8: some ways is a distraction in a lot of ways

743
00:36:51,000 --> 00:36:53,120
Speaker 8: now because if you really want to take a company

744
00:36:53,160 --> 00:36:57,520
Speaker 8: down or a country down, you take down their core infrastructure, right,

745
00:36:57,600 --> 00:37:00,399
Speaker 8: And that's what happened last couple of days with you know,

746
00:37:00,640 --> 00:37:03,200
Speaker 8: Trump saying, hey, we're going to take out your nuclear,

747
00:37:03,920 --> 00:37:06,239
Speaker 8: your power stations, and Rand's like, okay, cool, we'll take

748
00:37:06,280 --> 00:37:07,560
Speaker 8: out your water and your power.

749
00:37:08,120 --> 00:37:10,560
Speaker 6: So it's it is a it is a it is

750
00:37:10,600 --> 00:37:11,000
Speaker 6: a big.

751
00:37:10,880 --> 00:37:11,719
Speaker 4: Strength game, you know.

752
00:37:12,239 --> 00:37:14,600
Speaker 2: Okay, good Chris and I heis here, CEO of Cincinnati

753
00:37:14,640 --> 00:37:18,000
Speaker 2: based Vigilant Cybersecurity, on the show, kind of rehashing what

754
00:37:18,080 --> 00:37:21,200
Speaker 2: happened with Striker the cyber tech. A couple of weeks ago,

755
00:37:21,239 --> 00:37:24,000
Speaker 2: we had the Microsoft outage that affected a lot of people,

756
00:37:24,040 --> 00:37:28,279
Speaker 2: but briefly and you've done some research here that that

757
00:37:28,400 --> 00:37:30,640
Speaker 2: indicates the worst is yet to come and has to

758
00:37:30,640 --> 00:37:33,480
Speaker 2: do with something called GitHub. And GitHub is basically if

759
00:37:33,520 --> 00:37:35,640
Speaker 2: you have Google Cloud or one Drive, and you know

760
00:37:35,680 --> 00:37:38,719
Speaker 2: everything stored to cloud. Basically it's the cloud of computer code.

761
00:37:38,760 --> 00:37:41,680
Speaker 2: It's where all the programmers put their code in the cloud.

762
00:37:41,800 --> 00:37:43,239
Speaker 2: And that has been compromised.

763
00:37:44,600 --> 00:37:47,840
Speaker 8: So and I want to be really clear here and carefully.

764
00:37:48,040 --> 00:37:52,280
Speaker 8: The GitHub itself great platform. It is an amazing place

765
00:37:52,320 --> 00:37:56,239
Speaker 8: that allows developers put code there, both private code and

766
00:37:56,280 --> 00:38:00,720
Speaker 8: public code. Get up itself hasn't been compromised the and

767
00:38:00,719 --> 00:38:02,600
Speaker 8: and I also want to say that the open source

768
00:38:02,640 --> 00:38:07,560
Speaker 8: community is a huge community that enables developers to develop

769
00:38:07,600 --> 00:38:10,680
Speaker 8: applications and get them out there so people can use them.

770
00:38:10,719 --> 00:38:13,440
Speaker 8: And there's so many people that develop software for free

771
00:38:13,800 --> 00:38:17,840
Speaker 8: it's been countless hours doing that. Now, what what we

772
00:38:18,000 --> 00:38:21,360
Speaker 8: found so that this happened about three weeks ago. We

773
00:38:21,400 --> 00:38:27,160
Speaker 8: saw this this small story pop up just in the community, uh,

774
00:38:27,200 --> 00:38:30,080
Speaker 8: you know, the cyber community and a little bit on

775
00:38:30,080 --> 00:38:33,120
Speaker 8: on on Instagram and things are not on Instagram but Twitter.

776
00:38:33,480 --> 00:38:37,160
Speaker 8: About a company called Trivia. Now, Trivia is a security

777
00:38:37,200 --> 00:38:41,879
Speaker 8: tool that is used by developers that once they they

778
00:38:41,960 --> 00:38:45,319
Speaker 8: launch code, they use this tool to develop it. Because

779
00:38:45,320 --> 00:38:48,160
Speaker 8: a lot of people that develop software on that put

780
00:38:48,200 --> 00:38:51,880
Speaker 8: it up on GitHub that's open source. There're those small people,

781
00:38:51,920 --> 00:38:55,320
Speaker 8: you know, small teams, so they use these other applications

782
00:38:55,320 --> 00:38:59,799
Speaker 8: to scan them what happened. So when you do that,

783
00:38:59,840 --> 00:39:02,040
Speaker 8: because you have small teams, you're trying to do all this.

784
00:39:02,719 --> 00:39:04,960
Speaker 8: There are these things called actions. What actions are is

785
00:39:05,000 --> 00:39:09,880
Speaker 8: basically automation. So if I deployed new software, those actions

786
00:39:09,880 --> 00:39:12,120
Speaker 8: that automation will kick off to do a whole bunch

787
00:39:12,160 --> 00:39:16,880
Speaker 8: of different things. Right now, the way that open source

788
00:39:16,920 --> 00:39:20,160
Speaker 8: software works is someone will develop a piece of software

789
00:39:21,080 --> 00:39:24,319
Speaker 8: and then other people think it's cool and they'll fork it,

790
00:39:24,680 --> 00:39:27,480
Speaker 8: or they'll they'll they'll take that software and build on

791
00:39:27,600 --> 00:39:29,600
Speaker 8: top of it. And so you can have a single

792
00:39:29,640 --> 00:39:33,839
Speaker 8: piece of software that might have millions of other applications

793
00:39:33,880 --> 00:39:37,480
Speaker 8: built on top of it, and these could be they

794
00:39:37,480 --> 00:39:39,640
Speaker 8: could be hard monitors, they could be whatever right that's

795
00:39:39,640 --> 00:39:40,040
Speaker 8: out there.

796
00:39:40,760 --> 00:39:42,400
Speaker 6: So so when.

797
00:39:42,200 --> 00:39:44,960
Speaker 8: This came across, something that didn't feel right, so I

798
00:39:44,960 --> 00:39:47,160
Speaker 8: started doing a bunch of research. My team started doing

799
00:39:47,200 --> 00:39:50,080
Speaker 8: a bunch of research. We took some of our code

800
00:39:50,600 --> 00:39:53,719
Speaker 8: in our applications and actually made it made it into

801
00:39:53,760 --> 00:39:55,560
Speaker 8: a scanner that we released for free.

802
00:39:55,920 --> 00:39:56,880
Speaker 4: It's called runner.

803
00:39:56,600 --> 00:40:00,479
Speaker 8: Guard, but basically what we did started scanning of top

804
00:40:00,520 --> 00:40:07,520
Speaker 8: fifty thousand used applications out on GitHub to fifty thousand repositories,

805
00:40:08,160 --> 00:40:12,360
Speaker 8: and we found that in this Trivia attack too. What

806
00:40:12,480 --> 00:40:17,839
Speaker 8: happened was this attacker took over some authentication tokens and

807
00:40:18,040 --> 00:40:23,560
Speaker 8: they then implemented code into Trivia's the security ski inner's

808
00:40:23,600 --> 00:40:28,240
Speaker 8: actual code, so they broke through into GitHub uploaded state

809
00:40:28,320 --> 00:40:32,759
Speaker 8: code that had vulnerabilities in it. That code then got

810
00:40:32,960 --> 00:40:37,920
Speaker 8: spread through these actions to thousands and thousands of other

811
00:40:37,960 --> 00:40:41,719
Speaker 8: applications that Trivia used. So if you used Triviy, more

812
00:40:41,760 --> 00:40:46,520
Speaker 8: than likely your open source code was infected with malware.

813
00:40:46,680 --> 00:40:50,319
Speaker 8: Over the last couple of weeks. Then they came back

814
00:40:50,360 --> 00:40:54,080
Speaker 8: to Trivia and attacked them again with more of these

815
00:40:54,719 --> 00:40:58,279
Speaker 8: vulnerabilities that Trivia had a second time, they did it

816
00:40:58,360 --> 00:41:00,960
Speaker 8: a third time, and then literally last couple of days,

817
00:41:01,040 --> 00:41:05,239
Speaker 8: they defaced their entire webing. So we looked into this,

818
00:41:05,280 --> 00:41:08,160
Speaker 8: We're like, man, if Trivia's vulnerable to this, who else

819
00:41:08,239 --> 00:41:13,920
Speaker 8: is scan? Fifty thousand repos? Twenty thousand, two hundred and

820
00:41:13,920 --> 00:41:17,520
Speaker 8: sixty five repos are vulnerable to the exact same attack.

821
00:41:18,600 --> 00:41:22,600
Speaker 8: That's one hundred and ninety two thousand vulnerabilities. And the

822
00:41:22,680 --> 00:41:26,240
Speaker 8: scary part about it is on top of those twenty

823
00:41:26,239 --> 00:41:26,960
Speaker 8: thousand repos.

824
00:41:27,040 --> 00:41:29,240
Speaker 6: Remember I said, it's like an upside down tumid.

825
00:41:29,320 --> 00:41:34,120
Speaker 8: Right, five hundred and ninety million projects are vulnerable.

826
00:41:34,120 --> 00:41:37,480
Speaker 2: Way, five hundred ninety million projects. Five hundred and ninety

827
00:41:37,480 --> 00:41:40,799
Speaker 2: million projects. That's yeah, that's pretty much all the projects, say,

828
00:41:40,800 --> 00:41:43,640
Speaker 2: all the projects, right, all the projects.

829
00:41:43,760 --> 00:41:44,360
Speaker 10: It's a lot of.

830
00:41:44,360 --> 00:41:47,200
Speaker 4: Projects projects And so what's so?

831
00:41:47,239 --> 00:41:47,359
Speaker 5: All?

832
00:41:47,440 --> 00:41:47,680
Speaker 3: Right?

833
00:41:47,719 --> 00:41:52,399
Speaker 2: So that's infected? And is this just Iran doing this?

834
00:41:52,520 --> 00:41:57,440
Speaker 2: Is it Iraqi hackers? Bangladeshi and they're all organized on telegram?

835
00:41:57,480 --> 00:41:59,120
Speaker 2: I guess that's where they.

836
00:41:59,200 --> 00:42:02,759
Speaker 8: Yeah, so those are and those are vulnerable projects. So

837
00:42:02,760 --> 00:42:04,920
Speaker 8: those are not projects that have been compromised that we

838
00:42:05,000 --> 00:42:08,040
Speaker 8: know of yet now highly likely that they have because

839
00:42:08,080 --> 00:42:10,640
Speaker 8: if they found trivia, they've gone and kicked off some

840
00:42:10,680 --> 00:42:13,120
Speaker 8: of these and these other reposts. Now we've been scanning,

841
00:42:13,320 --> 00:42:17,360
Speaker 8: We've been, we've been notifying, We've been you know, I

842
00:42:17,400 --> 00:42:19,960
Speaker 8: have not slept much, you know, in the last few weeks.

843
00:42:20,600 --> 00:42:22,320
Speaker 8: You know, when you and I spoke last week, I

844
00:42:22,360 --> 00:42:25,080
Speaker 8: had literally been up the entire night. A few members

845
00:42:25,120 --> 00:42:27,439
Speaker 8: for our team as well. Because this is a big deal.

846
00:42:27,520 --> 00:42:30,840
Speaker 8: Is that these companies. There's two things that have to happen.

847
00:42:30,960 --> 00:42:34,480
Speaker 8: One is companies that develop open source software need to

848
00:42:34,600 --> 00:42:38,200
Speaker 8: validate whether or not they have these vulnerabilities. And Scott

849
00:42:38,239 --> 00:42:40,919
Speaker 8: it's it's literally a three minute fix. It's a three

850
00:42:40,960 --> 00:42:41,479
Speaker 8: minute fix.

851
00:42:41,600 --> 00:42:41,960
Speaker 4: Gotcha.

852
00:42:42,040 --> 00:42:44,720
Speaker 2: Yeah, christ heis is here CEO of since they based

853
00:42:44,800 --> 00:42:47,360
Speaker 2: vision and cybersecurity. You know, we're worried about missile attacks

854
00:42:47,360 --> 00:42:49,800
Speaker 2: and Loana wolf attacks with Iran in the Middle East,

855
00:42:49,880 --> 00:42:52,400
Speaker 2: and we really need to be concerned more about cyber attacks.

856
00:42:52,440 --> 00:42:55,560
Speaker 2: We saw what happens Striker, the medical device company Microsoft

857
00:42:55,560 --> 00:42:58,040
Speaker 2: three sixty five outage, and now Chris and his team

858
00:42:58,040 --> 00:43:02,719
Speaker 2: at vigilant As uncovered something huge and the depository, the

859
00:43:02,800 --> 00:43:03,319
Speaker 2: cloud for.

860
00:43:04,920 --> 00:43:07,200
Speaker 4: Code called GitHub has.

861
00:43:07,080 --> 00:43:09,400
Speaker 2: Been compromised to a degree, not itself but one of

862
00:43:09,440 --> 00:43:12,400
Speaker 2: the And so we're talking pretty much all these projects,

863
00:43:12,440 --> 00:43:15,960
Speaker 2: which is in the tens of hundreds of millions, have

864
00:43:16,040 --> 00:43:19,280
Speaker 2: all been compromised with this malicious code and malicious software.

865
00:43:19,320 --> 00:43:22,880
Speaker 2: And so let me bring it to well the potentially

866
00:43:23,400 --> 00:43:25,840
Speaker 2: potentially potentially, But I mean, they don't do it just

867
00:43:25,880 --> 00:43:29,120
Speaker 2: to go, hey, we're kicking the tires on this, and

868
00:43:29,120 --> 00:43:32,440
Speaker 2: this is what you found. And there's other cybersecurity firms

869
00:43:32,440 --> 00:43:35,279
Speaker 2: and experts that are doing the same thing. Here's where

870
00:43:35,280 --> 00:43:37,880
Speaker 2: it comes to the whoa scary part. So there's this

871
00:43:37,920 --> 00:43:41,080
Speaker 2: group called apt Iran which may be part of this

872
00:43:41,120 --> 00:43:43,479
Speaker 2: whole thing you're talking about. They claim that they caused

873
00:43:43,480 --> 00:43:45,759
Speaker 2: an explosion to kill a thirty year old father in

874
00:43:45,800 --> 00:43:52,319
Speaker 2: Nebraska last year. Fremont, Nebraska last year. Friends and family said, well,

875
00:43:52,440 --> 00:43:53,920
Speaker 2: friends and family, I'm reading the story. Your friends of

876
00:43:54,000 --> 00:43:56,279
Speaker 2: themly confirmed that the identity two girls killed at a

877
00:43:56,280 --> 00:43:58,719
Speaker 2: biofields place. So the dad was there, third year old

878
00:43:58,800 --> 00:44:01,439
Speaker 2: dad was working and his daughter were there with him

879
00:44:01,880 --> 00:44:05,560
Speaker 2: and the biofield there's an explosion of bioicles but killed

880
00:44:05,560 --> 00:44:09,799
Speaker 2: all three of them. And Iranian hackers have taken responsibility

881
00:44:09,800 --> 00:44:12,520
Speaker 2: for it, and so that does Now, if you're the government,

882
00:44:12,520 --> 00:44:14,600
Speaker 2: you go out, we want to admit that that's possible

883
00:44:14,600 --> 00:44:17,359
Speaker 2: that the Iranians caused this to happen and killed three

884
00:44:17,360 --> 00:44:19,840
Speaker 2: people to a man is a father and his two girls.

885
00:44:20,040 --> 00:44:24,040
Speaker 4: You certainly don't want that getting out. You do, and

886
00:44:24,120 --> 00:44:26,600
Speaker 4: you don't, right. I think it's I think as.

887
00:44:26,480 --> 00:44:30,319
Speaker 8: A you know, I was, yeah, well, we won't talk

888
00:44:30,320 --> 00:44:31,880
Speaker 8: about that, but basically.

889
00:44:31,600 --> 00:44:35,680
Speaker 4: Yeah, you're doing you you don't exactly so censored.

890
00:44:35,640 --> 00:44:39,960
Speaker 8: Because ultimately, you know, you have to inform the public

891
00:44:40,120 --> 00:44:43,960
Speaker 8: of what's really going on, because the danger is the speculation.

892
00:44:43,640 --> 00:44:45,200
Speaker 4: Right, right, that's the danger.

893
00:44:45,360 --> 00:44:49,040
Speaker 8: The danger is the you know, because you know, the

894
00:44:49,200 --> 00:44:55,880
Speaker 8: conspiracies happen when people know something's off and the data

895
00:44:56,520 --> 00:44:59,000
Speaker 8: is just enough to tell them that it's off, but

896
00:44:59,400 --> 00:45:01,520
Speaker 8: they don't know how to explain it, and so they

897
00:45:01,600 --> 00:45:06,160
Speaker 8: make up and that's where conspiracy or so so I

898
00:45:06,160 --> 00:45:07,800
Speaker 8: think I think the US government has to do a

899
00:45:07,880 --> 00:45:12,640
Speaker 8: much better job of talking about what's actually happening so

900
00:45:12,680 --> 00:45:15,400
Speaker 8: the public doesn't freak out as much. Now, you know,

901
00:45:15,440 --> 00:45:17,839
Speaker 8: we talked two years ago about the colonial attack, right,

902
00:45:18,400 --> 00:45:21,560
Speaker 8: and we talked about then that the Colonial pipeline attack

903
00:45:22,200 --> 00:45:24,400
Speaker 8: was more of a test and that's what I believe

904
00:45:24,400 --> 00:45:28,200
Speaker 8: it was. Yeah, yeah, because when they took over that

905
00:45:28,560 --> 00:45:31,000
Speaker 8: one thing people don't know is inside of a pipeline

906
00:45:31,080 --> 00:45:33,400
Speaker 8: are these sensors. And if you can get access to

907
00:45:33,440 --> 00:45:37,480
Speaker 8: those sensors, which you know colonial said that the attackers didn't,

908
00:45:38,320 --> 00:45:40,480
Speaker 8: but if you get access to those sensors, you can

909
00:45:40,520 --> 00:45:44,600
Speaker 8: actually heat them up and explode a pipeline. And so

910
00:45:45,200 --> 00:45:46,759
Speaker 8: so we just have to be aware that as a

911
00:45:46,920 --> 00:45:50,239
Speaker 8: country we're very vulnerable and we need to be we

912
00:45:50,280 --> 00:45:52,399
Speaker 8: need to be pointing our attention to making sure we're

913
00:45:52,480 --> 00:45:54,840
Speaker 8: less vulnerable. Gotcha, he is Chris and I high CEO

914
00:45:54,920 --> 00:45:57,920
Speaker 8: at Vigilant Cybersecurity. And now you know, thanks again for

915
00:45:57,960 --> 00:45:59,160
Speaker 8: the time, buddy, I appreciate it.

916
00:45:59,800 --> 00:46:00,640
Speaker 4: Got I mean anytime.

917
00:46:00,880 --> 00:46:03,040
Speaker 2: Yeah, lone wolves and missiles. Yeah, where we got an

918
00:46:03,040 --> 00:46:05,040
Speaker 2: eye out with the cyber stuff. Man, that that's going

919
00:46:05,120 --> 00:46:07,040
Speaker 2: to be the big one we are due. I hate

920
00:46:07,080 --> 00:46:10,080
Speaker 2: to say it, but a cyber nine to eleven is coming.

921
00:46:10,120 --> 00:46:12,680
Speaker 2: It's coming. Maybe not today, maybe not tomorrow, maybe not

922
00:46:12,760 --> 00:46:15,320
Speaker 2: weeks and we were a month, but soon it's coming.

923
00:46:15,600 --> 00:46:21,279
Speaker 2: Scott Sloan Show, seven hundred w O Tuesday Morning with

924
00:46:21,280 --> 00:46:24,919
Speaker 2: Sloan Here seven hundred WWE countdown is on the opening day.

925
00:46:25,040 --> 00:46:27,719
Speaker 2: I'll be live at Holy Grail Banks starting at nine

926
00:46:27,840 --> 00:46:31,480
Speaker 2: a m. I always love rolling up on Thursday morning,

927
00:46:31,560 --> 00:46:36,080
Speaker 2: Opening day and seeing the long line of potential drunks

928
00:46:36,440 --> 00:46:40,320
Speaker 2: lined up outside. I can't wait wind up, start dragging

929
00:46:40,360 --> 00:46:43,480
Speaker 2: at nine o'clock in the morning. That is fan flippantastic

930
00:46:43,560 --> 00:46:45,359
Speaker 2: right there, and I'm right there with you too. So

931
00:46:45,719 --> 00:46:47,760
Speaker 2: we'll be live all day long, taking new first pitch

932
00:46:47,840 --> 00:46:49,000
Speaker 2: at four to ten here on the Home of the

933
00:46:49,040 --> 00:46:52,640
Speaker 2: Red seven hundred ww as. The Boston Red Sox are

934
00:46:52,640 --> 00:46:56,440
Speaker 2: in town and they will travel well. And if you

935
00:46:56,440 --> 00:46:58,239
Speaker 2: think the price of admission is too high you can't

936
00:46:58,239 --> 00:47:01,000
Speaker 2: get a ticket, just wait a day, wait till Friday,

937
00:47:01,040 --> 00:47:05,080
Speaker 2: because it'll be immeasurably cheaper. We go nuts for opening day.

938
00:47:05,120 --> 00:47:06,560
Speaker 2: Now if the weather's bad, it all looks like it's

939
00:47:06,560 --> 00:47:08,759
Speaker 2: gonna be good, so we'll be fine. But typically you

940
00:47:08,760 --> 00:47:11,400
Speaker 2: have a little bit of rain or it's cold, you

941
00:47:11,560 --> 00:47:13,520
Speaker 2: start to thin up by like the fourth fifth inning

942
00:47:14,120 --> 00:47:17,480
Speaker 2: here in Cincinnati, Ohio. But good news is much cheaper

943
00:47:17,520 --> 00:47:20,120
Speaker 2: ticket and maybe better better conditions for the Don't forget

944
00:47:20,120 --> 00:47:22,799
Speaker 2: they play one hundred and sixty one games after this.

945
00:47:24,719 --> 00:47:26,960
Speaker 2: Are you prepared as well? They would say, are you prepared?

946
00:47:28,040 --> 00:47:30,399
Speaker 2: What is the biggest threat to our national security? Would

947
00:47:30,400 --> 00:47:32,480
Speaker 2: you say it is the border, which we've done a

948
00:47:32,520 --> 00:47:35,720
Speaker 2: great job closing to some degree, But would you agree

949
00:47:35,719 --> 00:47:38,279
Speaker 2: that that is the biggest threat to national security? I

950
00:47:38,280 --> 00:47:42,080
Speaker 2: would say, no is the biggest threat to our national security.

951
00:47:42,080 --> 00:47:45,200
Speaker 2: The straight of Hormuz gas prices, and in particular Iran.

952
00:47:46,160 --> 00:47:49,200
Speaker 2: I would say no is the biggest threat to our

953
00:47:49,320 --> 00:47:53,280
Speaker 2: national security. Our debt, that's a bingo.

954
00:47:54,800 --> 00:47:55,239
Speaker 4: Right now.

955
00:47:55,239 --> 00:47:59,040
Speaker 2: We have surpassed the thirty eight trillion dollar debt mark

956
00:47:59,120 --> 00:48:01,960
Speaker 2: in America. The debt expected to climb over fifty four

957
00:48:02,080 --> 00:48:05,560
Speaker 2: trillion over the next ten years. We're now in the

958
00:48:05,640 --> 00:48:08,200
Speaker 2: territory that we haven't seen since nineteen forty, since the

959
00:48:08,280 --> 00:48:11,160
Speaker 2: advent of World War Two. And meanwhile, debt held by

960
00:48:11,200 --> 00:48:13,960
Speaker 2: the public jumped from ninety nine percent of the GDP

961
00:48:14,120 --> 00:48:17,000
Speaker 2: to one hundred and sixteen percent of economic output is

962
00:48:17,040 --> 00:48:22,160
Speaker 2: the target for twenty thirty four, and almost three times

963
00:48:22,160 --> 00:48:25,799
Speaker 2: as high. They's tread an increase speaks volumes about how

964
00:48:25,840 --> 00:48:27,880
Speaker 2: quickly things are spiraling out of control. Talk about the

965
00:48:27,880 --> 00:48:31,440
Speaker 2: debt spiral before because there is a limit to how

966
00:48:31,480 --> 00:48:34,200
Speaker 2: much any debt a government can accumulate before a debt

967
00:48:34,239 --> 00:48:38,880
Speaker 2: spiral begins because the fear of default causes interest rates

968
00:48:38,880 --> 00:48:40,879
Speaker 2: to get higher and higher, which are trying to keep low,

969
00:48:41,680 --> 00:48:44,879
Speaker 2: and another interest rate cut coming. I believe we'll talk

970
00:48:44,880 --> 00:48:47,120
Speaker 2: to Andy Shaeffer about this coming up in about an hour,

971
00:48:47,360 --> 00:48:49,920
Speaker 2: but I think he's going to say, yeah, they paused,

972
00:48:49,960 --> 00:48:51,160
Speaker 2: but there's gonna be another one coming.

973
00:48:51,200 --> 00:48:53,640
Speaker 4: But they're going to pret sudents.

974
00:48:53,960 --> 00:48:56,440
Speaker 2: Interests are gonna start to go back up, which causes

975
00:48:56,520 --> 00:48:59,279
Speaker 2: higher deficits and more debt because you have to borrow

976
00:48:59,320 --> 00:49:01,439
Speaker 2: more money because you're paying higher interest rates. The interest

977
00:49:01,480 --> 00:49:03,640
Speaker 2: rates go up and you borrow more money, and that

978
00:49:03,800 --> 00:49:08,279
Speaker 2: is the debt spiral that we're facing right now. And

979
00:49:08,320 --> 00:49:11,640
Speaker 2: the big question is can we stomach what is going

980
00:49:11,680 --> 00:49:15,640
Speaker 2: to be needed to write the ship? And I say no,

981
00:49:15,680 --> 00:49:19,440
Speaker 2: not right now. Do you really want your taxes to

982
00:49:19,480 --> 00:49:21,440
Speaker 2: go up? Do you want to get less benefits and

983
00:49:21,480 --> 00:49:25,080
Speaker 2: pay more? No one does. And politicians know this, and

984
00:49:25,120 --> 00:49:29,200
Speaker 2: they're savvy, and that's why we've ignored this. The Treasury

985
00:49:29,360 --> 00:49:32,799
Speaker 2: just released their fiscal twenty twenty five report, not not

986
00:49:32,920 --> 00:49:40,080
Speaker 2: long ago, and we have six trillion dollars, just six

987
00:49:40,080 --> 00:49:43,120
Speaker 2: point six trillion, but six trillion and assets.

988
00:49:43,239 --> 00:49:44,440
Speaker 4: What are our liabilities?

989
00:49:44,480 --> 00:49:47,200
Speaker 2: Because if they teach you this in high school, you

990
00:49:47,280 --> 00:49:50,600
Speaker 2: have assets, which is the positive. You have liabilities, which

991
00:49:50,640 --> 00:49:53,960
Speaker 2: is a negative. And if your positives are more than

992
00:49:54,000 --> 00:49:56,400
Speaker 2: your negatives, you're in good shape. But if your negatives

993
00:49:56,520 --> 00:49:59,200
Speaker 2: are more than your positives, you ain't a good shape.

994
00:50:00,120 --> 00:50:06,440
Speaker 2: Six trillion on assets, forty eight trillion in liabilities. Let

995
00:50:06,440 --> 00:50:10,319
Speaker 2: me say that again in a different way. We are

996
00:50:10,400 --> 00:50:14,200
Speaker 2: negative forty one point seven two trillion right now, and

997
00:50:14,200 --> 00:50:16,640
Speaker 2: that's up a couple trillion for in the whole winter

998
00:50:16,600 --> 00:50:19,680
Speaker 2: a year ago. And that doesn't include things like Social Security.

999
00:50:19,840 --> 00:50:23,480
Speaker 2: That doesn't include Medicare. Those are funded obligations, those are

1000
00:50:23,480 --> 00:50:26,719
Speaker 2: tracked separately. Those jumped over ten trillion dollars in a

1001
00:50:26,760 --> 00:50:31,279
Speaker 2: single year. Medicare Part B alone accounts for almost seven

1002
00:50:31,320 --> 00:50:34,680
Speaker 2: trillion of the surge. He added all together one hundred

1003
00:50:34,719 --> 00:50:37,680
Speaker 2: and thirty six trillion in total federal obligations. That's five

1004
00:50:37,840 --> 00:50:41,120
Speaker 2: times I said, five times the size of the entire

1005
00:50:41,320 --> 00:50:47,719
Speaker 2: US economy. So the analogy was like, is okay, I

1006
00:50:47,760 --> 00:50:49,040
Speaker 2: don't understand these number.

1007
00:50:49,360 --> 00:50:51,120
Speaker 4: I don't understand I don't know trillions. I don't know

1008
00:50:51,120 --> 00:50:52,840
Speaker 4: how many zeros. That is I don't know.

1009
00:50:52,880 --> 00:50:54,040
Speaker 2: I know, that's a hell of a lot of money.

1010
00:50:54,640 --> 00:50:56,759
Speaker 2: That's that's actually beyond a hell of it. Here's a

1011
00:50:56,760 --> 00:50:58,000
Speaker 2: hell of a lot of money.

1012
00:50:57,960 --> 00:51:00,759
Speaker 1: And away over here.

1013
00:51:00,800 --> 00:51:02,920
Speaker 2: When it comes to the deficit, I don't even know

1014
00:51:02,920 --> 00:51:07,040
Speaker 2: how to count that high. But from an analogy standpoint,

1015
00:51:07,480 --> 00:51:11,640
Speaker 2: to make it about your household, take eight zeros, take

1016
00:51:11,640 --> 00:51:14,760
Speaker 2: away eight zeros to turn federal finances into household budget.

1017
00:51:14,880 --> 00:51:16,680
Speaker 2: So just take the zeros all out of this. So

1018
00:51:16,760 --> 00:51:20,160
Speaker 2: if you earn fifty two thousand dollars, your household is

1019
00:51:20,160 --> 00:51:24,440
Speaker 2: spending seventy three thousand, which means you're running up twenty

1020
00:51:24,520 --> 00:51:27,480
Speaker 2: thousand dollars in new debt every year, and you're now

1021
00:51:27,520 --> 00:51:31,880
Speaker 2: currently one point three million underwater. That's uncle Sam, that's

1022
00:51:31,920 --> 00:51:33,640
Speaker 2: how we bid. Just take all those zeros off, and

1023
00:51:33,640 --> 00:51:35,920
Speaker 2: that's if you ran your household that way. I'm making

1024
00:51:35,960 --> 00:51:39,040
Speaker 2: fifty two, I'm spending seventy three. That's a deficit of

1025
00:51:39,040 --> 00:51:41,640
Speaker 2: twenty thousand dollars every year. And now it's gone on

1026
00:51:41,680 --> 00:51:43,839
Speaker 2: so long, we're about a million three underwater. Might as

1027
00:51:43,840 --> 00:51:46,239
Speaker 2: well just keep spending into oblivion here. The only thing

1028
00:51:46,320 --> 00:51:49,440
Speaker 2: is you can declare bankruptcy. We really can't do that.

1029
00:51:50,920 --> 00:51:55,200
Speaker 2: We really can't do that, and we can't really even

1030
00:51:55,239 --> 00:51:57,480
Speaker 2: tell you if the books are accurate, partly because well,

1031
00:51:57,480 --> 00:52:00,880
Speaker 2: things like the Pentagon, their finances are a mess, and

1032
00:52:00,920 --> 00:52:05,399
Speaker 2: that is a substantial amount of our federal deficit. And

1033
00:52:05,480 --> 00:52:08,080
Speaker 2: we're you know, there's two bills to address this right now.

1034
00:52:08,080 --> 00:52:11,200
Speaker 2: There's the Federal Commission Act that would force a public

1035
00:52:11,239 --> 00:52:14,239
Speaker 2: reckoning with hard choices on taxes and spending. There's one

1036
00:52:15,160 --> 00:52:18,759
Speaker 2: a resolution in the House. Another one that calls for

1037
00:52:19,120 --> 00:52:23,080
Speaker 2: a constitutional convention to propose a balanced budget amendment modeled

1038
00:52:23,120 --> 00:52:25,000
Speaker 2: on Switzerland. Some I'm called the debt break because they're

1039
00:52:25,040 --> 00:52:28,320
Speaker 2: in trouble, but the numbers are real. The financial report

1040
00:52:28,520 --> 00:52:30,840
Speaker 2: was released just a few days ago by the Treasury

1041
00:52:31,360 --> 00:52:34,200
Speaker 2: and it's six trillion in assets, forty seven point seven

1042
00:52:34,280 --> 00:52:39,000
Speaker 2: eight liabilities. That is, by every measure, upside down. And

1043
00:52:39,040 --> 00:52:40,560
Speaker 2: no one is talking about this. It's like, yeah, well

1044
00:52:40,600 --> 00:52:42,800
Speaker 2: that's how we run the show here.

1045
00:52:42,680 --> 00:52:43,200
Speaker 3: Are you?

1046
00:52:43,280 --> 00:52:46,360
Speaker 2: Are you happy with that? I'm, for one, not happy

1047
00:52:46,400 --> 00:52:49,840
Speaker 2: with it. I'm nervous about my future, but because I

1048
00:52:49,920 --> 00:52:52,600
Speaker 2: plan to live another thirty years, planning on and actually

1049
00:52:52,680 --> 00:52:54,680
Speaker 2: doing it are two different things. But I were about

1050
00:52:54,719 --> 00:52:57,640
Speaker 2: my kids you probably write your kids, maybe grand kids

1051
00:52:57,719 --> 00:53:02,160
Speaker 2: come along, something like that, and we just it's not sustainable. Now,

1052
00:53:02,280 --> 00:53:06,160
Speaker 2: are we insolvent? America is a dead beat nation? We are,

1053
00:53:06,280 --> 00:53:09,680
Speaker 2: but are we insolvent? And that's not what the Treasury

1054
00:53:09,840 --> 00:53:12,320
Speaker 2: you just describe this therein report never uses this word.

1055
00:53:13,000 --> 00:53:15,600
Speaker 2: And this is more like private sector insolvency, almost like

1056
00:53:15,600 --> 00:53:16,680
Speaker 2: the household analogy.

1057
00:53:16,719 --> 00:53:19,560
Speaker 4: I just gave you the key distinction.

1058
00:53:19,600 --> 00:53:23,000
Speaker 2: There is like a company the US can taxi can borrow,

1059
00:53:23,080 --> 00:53:24,520
Speaker 2: you know, the US we can borrow against our own

1060
00:53:24,560 --> 00:53:27,960
Speaker 2: currency and theoretically print money. It doesn't mean that the

1061
00:53:28,120 --> 00:53:30,920
Speaker 2: trajectory isn't alarming. It is, but you know, calling it insolvent,

1062
00:53:31,000 --> 00:53:34,600
Speaker 2: someone saying we're insolvent, it's okay, that's I think flame

1063
00:53:34,640 --> 00:53:36,279
Speaker 2: it a little bit here. But you know, if we're

1064
00:53:36,320 --> 00:53:38,279
Speaker 2: over the topic, call it we're insolvent. We're dead beats.

1065
00:53:38,320 --> 00:53:39,160
Speaker 4: We count are.

1066
00:53:40,800 --> 00:53:43,760
Speaker 2: You know we're burning through a trillion dollars every five months.

1067
00:53:43,760 --> 00:53:48,040
Speaker 2: That's twice the historic pace, and that should be disturbing

1068
00:53:48,040 --> 00:53:50,879
Speaker 2: to anyone listening, regardless of who you voted or didn't

1069
00:53:50,920 --> 00:53:54,800
Speaker 2: vote for. So roughly that's almost four hundred thousand dollars

1070
00:53:54,840 --> 00:53:59,800
Speaker 2: per American or more than four hundred thousand dollars per American. Actually,

1071
00:54:00,680 --> 00:54:03,640
Speaker 2: if you do it, I mean close enough, right, so

1072
00:54:03,719 --> 00:54:07,279
Speaker 2: your your original sin is four hundred thousand dollars. You know,

1073
00:54:07,320 --> 00:54:09,480
Speaker 2: it wasn't that long ago. We forgot about that. Moody's

1074
00:54:10,239 --> 00:54:15,960
Speaker 2: downgraded the United States because of our spending. Big beautiful

1075
00:54:15,960 --> 00:54:19,680
Speaker 2: bill came along and it drove the deficit even higher.

1076
00:54:19,680 --> 00:54:21,359
Speaker 2: What happened to doze, by the way, how did that

1077
00:54:21,400 --> 00:54:25,080
Speaker 2: work out? Did nothing? This is a crisis. Is a

1078
00:54:25,080 --> 00:54:28,279
Speaker 2: crisis for Republicans. This is a crisis for Democrats and

1079
00:54:28,280 --> 00:54:30,960
Speaker 2: independents and Libertarians and Green Party whomever, whatever it is

1080
00:54:31,000 --> 00:54:32,439
Speaker 2: you believe in or don't believe. And it's a problem

1081
00:54:32,520 --> 00:54:35,680
Speaker 2: for all of us. And all those entsies, particularly the

1082
00:54:35,760 --> 00:54:38,120
Speaker 2: Democrats and Republicans, got us to where we are right now.

1083
00:54:38,120 --> 00:54:40,600
Speaker 2: We're not holding their feet to the fire. And there's

1084
00:54:40,640 --> 00:54:42,839
Speaker 2: going to be a reckoning coming up. And we talk

1085
00:54:42,880 --> 00:54:45,400
Speaker 2: about this all the time. The reckoning is going to

1086
00:54:45,400 --> 00:54:47,960
Speaker 2: be if we get flipped around, if we get upside

1087
00:54:47,960 --> 00:54:50,600
Speaker 2: down and the interest rates start going up up and up,

1088
00:54:50,600 --> 00:54:52,120
Speaker 2: and we have to borrow more money just to keep

1089
00:54:52,160 --> 00:54:54,720
Speaker 2: the lights on. I mean, we saw what the EU

1090
00:54:54,760 --> 00:54:57,120
Speaker 2: went through. Certain nations. We've seen other nations go on.

1091
00:54:58,400 --> 00:55:00,280
Speaker 2: It is going to be a crisis of magnitude because

1092
00:55:00,320 --> 00:55:03,000
Speaker 2: we are, of course, we're the world economy in the

1093
00:55:03,080 --> 00:55:05,200
Speaker 2: United States of America. And as you'll hear from Andy

1094
00:55:05,200 --> 00:55:07,560
Speaker 2: Schaeffer at eleven thirty five, if you look at the

1095
00:55:07,560 --> 00:55:10,600
Speaker 2: economy's doing pretty well right now. But even Wall Street

1096
00:55:10,600 --> 00:55:14,520
Speaker 2: has ignored the debt bump issue entirely. We're not buying

1097
00:55:14,560 --> 00:55:16,840
Speaker 2: our debt to keep our interests at low. Inflation is

1098
00:55:17,080 --> 00:55:18,799
Speaker 2: going to be what it is in the future. It's

1099
00:55:18,840 --> 00:55:20,919
Speaker 2: going to go up because the central banks people won't

1100
00:55:20,920 --> 00:55:23,400
Speaker 2: be buying our debt anymore. It's over a trillion dollars

1101
00:55:23,440 --> 00:55:26,000
Speaker 2: in debt. Service, Medicare is up there. Defense is a

1102
00:55:26,040 --> 00:55:30,560
Speaker 2: trillion dollars a trillion. We're not gonna get real we

1103
00:55:30,600 --> 00:55:32,279
Speaker 2: need defense, but you know, do we need things like

1104
00:55:32,320 --> 00:55:35,400
Speaker 2: a golden dome? And look how much money another two

1105
00:55:35,480 --> 00:55:39,279
Speaker 2: hundred billion for Iran that apparently I guess a few

1106
00:55:39,320 --> 00:55:42,160
Speaker 2: days ago is wiped out. But now we're negotiating with

1107
00:55:42,200 --> 00:55:44,280
Speaker 2: them like we're not getting a straight story to Washington.

1108
00:55:44,360 --> 00:55:44,960
Speaker 4: Is a problem.

1109
00:55:46,000 --> 00:55:49,560
Speaker 2: Veterans, benefits and services, those are things that I'm not

1110
00:55:49,560 --> 00:55:52,800
Speaker 2: saying so just as we are. But you talk about Medicare, defense,

1111
00:55:52,880 --> 00:55:57,279
Speaker 2: veterans benefits, debt service, those things are fixed. We can't

1112
00:55:57,320 --> 00:56:00,440
Speaker 2: change those, and those are supposed to Well, we're gon

1113
00:56:00,600 --> 00:56:03,920
Speaker 2: we're gonna change everything with Doge didn't change anything. It's

1114
00:56:03,920 --> 00:56:06,520
Speaker 2: about what six percent of the deficit, and we're already

1115
00:56:06,520 --> 00:56:09,840
Speaker 2: burned through that money. So this is a crisis that

1116
00:56:09,880 --> 00:56:11,600
Speaker 2: at some point it is going to have to be

1117
00:56:11,640 --> 00:56:13,879
Speaker 2: addressed in Congress. It's going to happen sooner rather than later.

1118
00:56:13,920 --> 00:56:17,120
Speaker 2: But is it astounding to you that we have largely

1119
00:56:17,120 --> 00:56:20,319
Speaker 2: become insolvent for lack of better terms, are completely upside down?

1120
00:56:20,760 --> 00:56:23,480
Speaker 2: And this report was issued three days ago, and I

1121
00:56:23,480 --> 00:56:27,640
Speaker 2: think I'm the only one talking about it. You know,

1122
00:56:27,760 --> 00:56:29,600
Speaker 2: I don't know if you ignore it, does it just go?

1123
00:56:29,680 --> 00:56:29,839
Speaker 6: Wait?

1124
00:56:29,840 --> 00:56:32,400
Speaker 2: How does that usually work? No one wants to hear

1125
00:56:32,400 --> 00:56:34,080
Speaker 2: about this. No one wants to go, well, okay, what's

1126
00:56:34,080 --> 00:56:37,719
Speaker 2: your solution, smart ass? Well, the solution to be we're

1127
00:56:37,760 --> 00:56:39,600
Speaker 2: going to have to figure out what to cut. There's

1128
00:56:39,600 --> 00:56:42,879
Speaker 2: going to have to be some some tests for retire reason. God,

1129
00:56:42,920 --> 00:56:45,160
Speaker 2: you know, we run commercials all the time about protecting

1130
00:56:45,200 --> 00:56:47,840
Speaker 2: your social security and like aus, what that's going to

1131
00:56:47,880 --> 00:56:50,680
Speaker 2: have to be on the table all of those entitlement programs,

1132
00:56:50,680 --> 00:56:53,320
Speaker 2: and they are entitlement programs. No, no, they're not intolments.

1133
00:56:53,360 --> 00:56:56,399
Speaker 2: I work for that right something you're entitled too as

1134
00:56:56,440 --> 00:56:58,239
Speaker 2: I am. I'm getting to that age or I got

1135
00:56:58,239 --> 00:57:00,440
Speaker 2: to start looking at this stuff is going to be

1136
00:57:00,480 --> 00:57:02,640
Speaker 2: available and what's got to go away? How do we

1137
00:57:02,719 --> 00:57:04,279
Speaker 2: how do we cut spending. It's got to come from

1138
00:57:04,320 --> 00:57:07,680
Speaker 2: all ears. It's got to come from and Totnement's got

1139
00:57:07,680 --> 00:57:10,640
Speaker 2: to come from defense, it's got to come from medicare

1140
00:57:10,760 --> 00:57:13,239
Speaker 2: all these things, and we're going to pay more and

1141
00:57:13,280 --> 00:57:13,840
Speaker 2: get less.

1142
00:57:13,880 --> 00:57:14,840
Speaker 4: And that's the reality.

1143
00:57:14,920 --> 00:57:17,600
Speaker 2: I think the future of the definition of a patriot

1144
00:57:18,120 --> 00:57:19,560
Speaker 2: is not going to be someone who's wearing a tri

1145
00:57:19,720 --> 00:57:23,280
Speaker 2: cornered hat and we the People T shirt or having

1146
00:57:23,320 --> 00:57:25,920
Speaker 2: a million bumper stickers about the environment and other things

1147
00:57:25,920 --> 00:57:28,360
Speaker 2: in the back of your volvo. What it's going to

1148
00:57:28,400 --> 00:57:30,000
Speaker 2: be is people going, Okay, I got to pay more

1149
00:57:30,000 --> 00:57:32,800
Speaker 2: and get less. To me, that that's what patriots in

1150
00:57:32,800 --> 00:57:35,200
Speaker 2: the future going to be. It's an economic patriot. There's

1151
00:57:35,200 --> 00:57:37,840
Speaker 2: just no two ways about it. We're spending like drunk

1152
00:57:37,880 --> 00:57:40,600
Speaker 2: sailors and no one's At some time the chairs are

1153
00:57:40,600 --> 00:57:41,880
Speaker 2: going to the music and the stop and I'm gonna

1154
00:57:41,880 --> 00:57:43,680
Speaker 2: be all that chair is the problem here? How they

1155
00:57:43,760 --> 00:57:46,080
Speaker 2: get to Mary Mountain Richard on Scotsland Show, Good Morning,

1156
00:57:46,120 --> 00:57:47,240
Speaker 2: How are you.

1157
00:57:47,080 --> 00:57:48,560
Speaker 10: Ye, Scott guye to talk to you?

1158
00:57:49,080 --> 00:57:49,920
Speaker 4: Thanks for checking in.

1159
00:57:50,680 --> 00:57:51,160
Speaker 10: I wouldn't.

1160
00:57:51,280 --> 00:57:51,960
Speaker 3: I don't know.

1161
00:57:52,200 --> 00:57:54,880
Speaker 10: I just hate to disagree with you, but I don't

1162
00:57:54,920 --> 00:57:58,440
Speaker 10: think the national debt is our biggest national security issue,

1163
00:57:59,120 --> 00:58:02,200
Speaker 10: mainly because maybe because when you have there is no

1164
00:58:02,320 --> 00:58:05,000
Speaker 10: real national debt. We issue debt in our own currency.

1165
00:58:05,040 --> 00:58:08,240
Speaker 10: The US government can never go bankrupt. I got to

1166
00:58:08,280 --> 00:58:11,400
Speaker 10: ask you one question, who are we in debt too? Banks?

1167
00:58:11,840 --> 00:58:14,520
Speaker 10: What do they use our currency that our Treasury department?

1168
00:58:14,560 --> 00:58:17,000
Speaker 2: Well, I would say the banks, but who's who's controlling

1169
00:58:17,080 --> 00:58:18,840
Speaker 2: that debt? It'd be countries like China.

1170
00:58:20,160 --> 00:58:22,640
Speaker 10: China. Well, we just don't pay China, we.

1171
00:58:24,280 --> 00:58:26,520
Speaker 4: Don't have okay, So what does that do then? Okay?

1172
00:58:26,560 --> 00:58:28,680
Speaker 2: So but then we still have to borrow money, right?

1173
00:58:28,720 --> 00:58:29,960
Speaker 2: What will that do to the interest?

1174
00:58:30,000 --> 00:58:32,000
Speaker 10: We don't have to borrow money, and we can create it.

1175
00:58:32,040 --> 00:58:34,960
Speaker 10: We create our own currency. If you if you were

1176
00:58:35,080 --> 00:58:37,960
Speaker 10: your kitchen table and you're you're paying your bills, you

1177
00:58:38,040 --> 00:58:40,440
Speaker 10: have to pay your bills. You cannot create your own currency.

1178
00:58:40,440 --> 00:58:43,000
Speaker 2: I understand that we have that we have the ability

1179
00:58:43,040 --> 00:58:44,880
Speaker 2: to print money, which we have, but the problem is this,

1180
00:58:45,000 --> 00:58:47,120
Speaker 2: the more you print, the more it devalues the face

1181
00:58:47,120 --> 00:58:50,120
Speaker 2: of that currency. Now where the world currency reserve? What

1182
00:58:50,280 --> 00:58:53,360
Speaker 2: happens when we get to the point where where there's

1183
00:58:53,400 --> 00:58:56,200
Speaker 2: a stronger economy, and you know, there's there's always been

1184
00:58:56,240 --> 00:59:00,240
Speaker 2: a fight like, well, the greenback is the current world

1185
00:59:00,240 --> 00:59:02,880
Speaker 2: reserve currency.

1186
00:59:02,920 --> 00:59:05,080
Speaker 4: If this keeps up, it's not going to be in

1187
00:59:05,120 --> 00:59:05,560
Speaker 4: the future.

1188
00:59:07,000 --> 00:59:10,600
Speaker 10: US economy is by far the world's biggest, no question

1189
00:59:12,040 --> 00:59:15,040
Speaker 10: that there. There is nobody that's even close to it.

1190
00:59:15,080 --> 00:59:17,240
Speaker 10: And if they don't want to do business with us,

1191
00:59:17,640 --> 00:59:19,800
Speaker 10: then they're going to have a real problem. So there

1192
00:59:19,840 --> 00:59:22,120
Speaker 10: you go. And if and if worst comes to words, okay,

1193
00:59:22,320 --> 00:59:25,040
Speaker 10: we just an issue a new currency if we had to,

1194
00:59:25,680 --> 00:59:28,400
Speaker 10: you know, you based on the amount of productivity in

1195
00:59:28,440 --> 00:59:31,800
Speaker 10: your economy. There is no national debt. It's made up

1196
00:59:32,000 --> 00:59:32,960
Speaker 10: and that's a made up thing.

1197
00:59:33,040 --> 00:59:36,080
Speaker 2: Got so so so anyway, but we all agree on

1198
00:59:36,120 --> 00:59:38,040
Speaker 2: this that the interest rates will go up.

1199
00:59:38,040 --> 00:59:41,640
Speaker 10: Correct, they could do that, But we can also create

1200
00:59:41,680 --> 00:59:44,919
Speaker 10: a new currency. Sure, Department and in Control.

1201
00:59:44,720 --> 00:59:47,880
Speaker 2: America can do that. But what about the companies? All

1202
00:59:47,920 --> 00:59:51,440
Speaker 2: this this economic engine of America. The companies that borrow money,

1203
00:59:51,440 --> 00:59:52,680
Speaker 2: what about their interest rates?

1204
00:59:53,320 --> 00:59:56,280
Speaker 10: Their interest rates? We can create a new currency. Well,

1205
00:59:56,280 --> 00:59:57,960
Speaker 10: so we can set it up. We don't have to

1206
00:59:58,080 --> 01:00:02,160
Speaker 10: have We are not we're not beholden to big banks

1207
01:00:02,320 --> 01:00:04,880
Speaker 10: if we don't want to be. We can create our

1208
01:00:04,880 --> 01:00:07,800
Speaker 10: own currency based on the size of our economy if

1209
01:00:07,800 --> 01:00:10,760
Speaker 10: we want to. There is no national debt. It's a

1210
01:00:10,800 --> 01:00:13,520
Speaker 10: made up thing. And you know we can agree to

1211
01:00:13,520 --> 01:00:14,160
Speaker 10: disagree on.

1212
01:00:14,120 --> 01:00:17,280
Speaker 2: Yeah, sure, sure, sure, But the solution is, like we

1213
01:00:17,640 --> 01:00:19,080
Speaker 2: did what that point.

1214
01:00:19,360 --> 01:00:22,400
Speaker 10: You have a point about printing too much money. You

1215
01:00:22,400 --> 01:00:25,880
Speaker 10: can't just willing really do that because it will create inflation.

1216
01:00:26,000 --> 01:00:28,320
Speaker 10: You are correct on that, but we have the ability

1217
01:00:28,360 --> 01:00:29,160
Speaker 10: to control that.

1218
01:00:30,400 --> 01:00:30,600
Speaker 3: You know.

1219
01:00:30,760 --> 01:00:33,040
Speaker 2: So, but that but that obligation, I guess I'll let

1220
01:00:33,040 --> 01:00:35,120
Speaker 2: you go because I got some other clulture. That obligation

1221
01:00:35,240 --> 01:00:37,800
Speaker 2: doesn't go away. You know, you're saying, Okay, we replaced

1222
01:00:37,800 --> 01:00:40,440
Speaker 2: a dollar with a new national currency or digital dollar,

1223
01:00:40,720 --> 01:00:43,960
Speaker 2: whatever it is. There's shock waves from that. You know,

1224
01:00:44,000 --> 01:00:46,160
Speaker 2: we've got the thirty eight trillion dollars debt crisis. But

1225
01:00:46,280 --> 01:00:49,360
Speaker 2: then you're talking about that transition, which I don't trust

1226
01:00:49,400 --> 01:00:52,760
Speaker 2: the government to do. Now you're talking about hyper inflation.

1227
01:00:52,880 --> 01:00:55,880
Speaker 2: It could wipe savings out overnight that happened in Argentina

1228
01:00:55,960 --> 01:00:59,720
Speaker 2: for example, and the collapse of the preserve currency are

1229
01:00:59,760 --> 01:01:02,120
Speaker 2: held in the US dollars. A switch would destabilize the

1230
01:01:02,160 --> 01:01:06,800
Speaker 2: central banks worldwide in the crash would I mean, I

1231
01:01:06,800 --> 01:01:09,560
Speaker 2: think it'd be an implosion, is what it is. It

1232
01:01:09,720 --> 01:01:11,880
Speaker 2: just I don't think your arguing makes sense to me anyway.

1233
01:01:11,920 --> 01:01:14,280
Speaker 2: Maybe somebody does, but I appreciate the debate. I got

1234
01:01:14,280 --> 01:01:16,120
Speaker 2: to get a news update in we're running little bit late.

1235
01:01:16,200 --> 01:01:18,480
Speaker 2: News is coming up in about seven minutes here. And

1236
01:01:18,520 --> 01:01:21,320
Speaker 2: then Greg lost them from Buckeye. Well they took oh yesterday,

1237
01:01:21,320 --> 01:01:24,400
Speaker 2: they took away your THG beverages. Now they want to

1238
01:01:24,440 --> 01:01:29,120
Speaker 2: take away more of your money from your house. In

1239
01:01:29,240 --> 01:01:32,560
Speaker 2: light of all of the property taxes you're paying, Ohio,

1240
01:01:32,640 --> 01:01:36,000
Speaker 2: they want another tax on what you do in your house.

1241
01:01:36,040 --> 01:01:37,960
Speaker 4: We'll explain next on the big one. Hang on, I

1242
01:01:38,160 --> 01:01:38,520
Speaker 4: want to.

1243
01:01:38,480 --> 01:01:42,960
Speaker 1: Be an American idiot. He's got on seven hundred WW.

1244
01:01:43,080 --> 01:01:46,040
Speaker 7: So what's sustainable Ohio taking away from you today?

1245
01:01:47,600 --> 01:01:51,480
Speaker 2: Yesterday it was THC drinks, you know, because that's killed

1246
01:01:51,480 --> 01:01:54,760
Speaker 2: in a lot of people share today. How about some

1247
01:01:54,840 --> 01:01:58,240
Speaker 2: higher taxes are you a fan of higher taxes. I'm

1248
01:01:58,280 --> 01:02:02,160
Speaker 2: a big fan of higher taxes. Oh, the Ohio legislature,

1249
01:02:02,200 --> 01:02:05,240
Speaker 2: the General Assembly is moving to tax you, mister and

1250
01:02:05,280 --> 01:02:08,120
Speaker 2: missus homeowner if you decide that you're going to rent

1251
01:02:08,160 --> 01:02:12,920
Speaker 2: out your home like Airbnb or verbo for a few days.

1252
01:02:13,920 --> 01:02:16,520
Speaker 2: Seems to me like a raw deal. You know, new taxes.

1253
01:02:16,560 --> 01:02:19,480
Speaker 2: There's no protections in here. Local governments can still ban

1254
01:02:19,560 --> 01:02:23,120
Speaker 2: you from doinging entirely. Doesn't feel like free enterprise to me.

1255
01:02:23,280 --> 01:02:25,520
Speaker 2: Joining the show from the Buckeye Institute in Columbus is

1256
01:02:25,560 --> 01:02:26,720
Speaker 2: Greg Laws and Greg.

1257
01:02:26,480 --> 01:02:28,919
Speaker 6: Welcome, thanks for having me on.

1258
01:02:29,760 --> 01:02:30,919
Speaker 4: We have this, as you.

1259
01:02:30,800 --> 01:02:32,880
Speaker 2: Know, being in Ohio, you know we have this insane

1260
01:02:32,920 --> 01:02:35,400
Speaker 2: property tax burden going on right now, some people paying

1261
01:02:35,400 --> 01:02:37,960
Speaker 2: three hundred percent more property taxes. There's a move to

1262
01:02:38,080 --> 01:02:43,120
Speaker 2: eliminate property taxes entirely. And now this is this a

1263
01:02:43,160 --> 01:02:44,920
Speaker 2: good idea?

1264
01:02:45,040 --> 01:02:47,400
Speaker 6: Well, it's certainly not a good idea to just tax people.

1265
01:02:47,600 --> 01:02:52,000
Speaker 6: There's an argument that in some areas, some that don't

1266
01:02:52,040 --> 01:02:55,080
Speaker 6: have like as many hotels, especially some rural areas, that

1267
01:02:55,200 --> 01:02:58,120
Speaker 6: they that they still have what they call visitor and bureau.

1268
01:02:59,040 --> 01:03:03,480
Speaker 6: Visitor bureau can into with tourism, that they that there

1269
01:03:03,560 --> 01:03:05,840
Speaker 6: may be a need for something. But the concern we

1270
01:03:05,920 --> 01:03:09,000
Speaker 6: have is that there are several bills out there, and

1271
01:03:09,360 --> 01:03:13,320
Speaker 6: one of them, in particular, unfortunately, House Bill one sixty one,

1272
01:03:13,480 --> 01:03:16,720
Speaker 6: is just a tax bill. It just applies the logic

1273
01:03:16,800 --> 01:03:19,720
Speaker 6: tax to an Airbnb or verbo or any of these

1274
01:03:19,720 --> 01:03:23,040
Speaker 6: short term rentals. But it does nothing about what is

1275
01:03:23,080 --> 01:03:26,320
Speaker 6: a growing problem in Ohio, which is that local governments

1276
01:03:26,320 --> 01:03:30,760
Speaker 6: are oftentimes preventing people from doing it. They're putting bands

1277
01:03:31,000 --> 01:03:35,680
Speaker 6: on airbnbs and verbos. That's something that is happening under

1278
01:03:35,680 --> 01:03:37,960
Speaker 6: the home rules stuff. I think we talked about home

1279
01:03:37,960 --> 01:03:44,600
Speaker 6: earlier before, and we think that's a terrible situation. So

1280
01:03:45,240 --> 01:03:47,160
Speaker 6: you know, I'll tell you this. You can't just flat

1281
01:03:47,280 --> 01:03:50,960
Speaker 6: tax on something and then just give keep government with

1282
01:03:51,000 --> 01:03:53,640
Speaker 6: the power to just continue to ban things. It really

1283
01:03:53,680 --> 01:03:58,120
Speaker 6: is violating people's personal property rights. And we think that's

1284
01:03:58,120 --> 01:03:58,880
Speaker 6: a bad idea.

1285
01:03:59,000 --> 01:04:00,680
Speaker 2: Yeah, I guess you're a local minsipality. If you have

1286
01:04:00,720 --> 01:04:02,960
Speaker 2: a problem with the your HOA can ban people from

1287
01:04:02,960 --> 01:04:04,720
Speaker 2: doing that, and you sign your rights away when you

1288
01:04:04,760 --> 01:04:06,920
Speaker 2: do that. You buy property there, here's the rules. You

1289
01:04:06,960 --> 01:04:09,160
Speaker 2: want to move there or not. Okay, I can't buy

1290
01:04:09,560 --> 01:04:12,480
Speaker 2: you know, I own rental property. There's someones I own

1291
01:04:12,520 --> 01:04:14,520
Speaker 2: that are part of an hoa where you can't rent

1292
01:04:14,520 --> 01:04:16,600
Speaker 2: them out. Okay, fine, great, but I knew that going

1293
01:04:16,600 --> 01:04:19,000
Speaker 2: ahead of time, coming back and then taxing people for

1294
01:04:19,040 --> 01:04:22,280
Speaker 2: something they're already paying taxes on seems criminal to me.

1295
01:04:22,360 --> 01:04:24,920
Speaker 2: You're already paying the property tax. I got to pay

1296
01:04:24,920 --> 01:04:26,640
Speaker 2: you more tax because I'm renting it out.

1297
01:04:27,960 --> 01:04:32,240
Speaker 6: Well, the argument is that you have hotels that already

1298
01:04:32,240 --> 01:04:34,440
Speaker 6: have these taxes that are apply to them. I and

1299
01:04:34,480 --> 01:04:37,560
Speaker 6: the hotels have have for a long time made the

1300
01:04:37,600 --> 01:04:40,640
Speaker 6: case that with the advent of all these new things

1301
01:04:40,640 --> 01:04:45,480
Speaker 6: short term rentals, that they're being taxed, but that's essentially

1302
01:04:45,840 --> 01:04:49,720
Speaker 6: an unfair competition, and that it's making sure that they

1303
01:04:49,720 --> 01:04:52,240
Speaker 6: don't have the revenue to go back into again some

1304
01:04:52,320 --> 01:04:55,880
Speaker 6: of these various marketing pages and stuff that happens in

1305
01:04:55,920 --> 01:04:59,320
Speaker 6: different counties for tourism. So that's the argument that's there.

1306
01:05:00,000 --> 01:05:03,160
Speaker 6: And you know, first of all, we don't like new taxes, guys.

1307
01:05:03,280 --> 01:05:07,280
Speaker 6: It's always been against new taxes. But what I testified

1308
01:05:07,600 --> 01:05:10,360
Speaker 6: last week to a committee on this in the Ohio

1309
01:05:10,360 --> 01:05:14,160
Speaker 6: House Representatives, the argument that we made is we certainly

1310
01:05:14,200 --> 01:05:16,200
Speaker 6: don't like taxes if you're not going to make sure

1311
01:05:16,240 --> 01:05:18,600
Speaker 6: that people are protected. And I think this is the

1312
01:05:18,680 --> 01:05:21,040
Speaker 6: thing that it's so to me, we just about what's

1313
01:05:21,040 --> 01:05:25,520
Speaker 6: happening across the high most governments is these bands. I

1314
01:05:25,640 --> 01:05:27,960
Speaker 6: get people are worried about having a party house in

1315
01:05:27,960 --> 01:05:32,120
Speaker 6: their neighborhoods that isn't under control, And there's several things

1316
01:05:31,640 --> 01:05:34,240
Speaker 6: that deal with this. First of all, you can still

1317
01:05:34,240 --> 01:05:37,160
Speaker 6: have and should still be able to have local nuisance

1318
01:05:37,240 --> 01:05:39,640
Speaker 6: laws and things like that. If people are doing crazy

1319
01:05:39,680 --> 01:05:43,640
Speaker 6: stuff or you know, having animal house happening and then

1320
01:05:43,800 --> 01:05:46,360
Speaker 6: you know next door to you, you know, there's ways

1321
01:05:46,360 --> 01:05:50,400
Speaker 6: to address it. By the way, folks like Airbnb have

1322
01:05:50,560 --> 01:05:53,800
Speaker 6: policies for the platform where if you start doing things

1323
01:05:53,840 --> 01:05:56,000
Speaker 6: like that, you're rinning it out and you really maybe

1324
01:05:56,000 --> 01:05:57,400
Speaker 6: one time you can get away that, but you know,

1325
01:05:57,440 --> 01:05:59,200
Speaker 6: it's like I think it's like a three times and

1326
01:05:59,240 --> 01:06:01,400
Speaker 6: you're out sort of thing, right where if this is

1327
01:06:01,440 --> 01:06:04,280
Speaker 6: a recurring pattern and you're not taking responsibility in your

1328
01:06:04,320 --> 01:06:07,680
Speaker 6: neighborhood with your property, they can't use their platform anymore

1329
01:06:07,760 --> 01:06:11,560
Speaker 6: to rent it out. Yeah, so we have protections for people.

1330
01:06:12,320 --> 01:06:15,120
Speaker 6: We shouldn't be banning them. We certainly shouldn't be taxing

1331
01:06:15,160 --> 01:06:18,160
Speaker 6: people and then not guaranteeing that you still can have

1332
01:06:18,200 --> 01:06:20,120
Speaker 6: the right to do what you want to with hero.

1333
01:06:20,040 --> 01:06:21,600
Speaker 2: From Yeah, I want to circle back on the zero

1334
01:06:21,680 --> 01:06:24,320
Speaker 2: protections argument that you made there, Greg Lawson, and I

1335
01:06:24,320 --> 01:06:26,920
Speaker 2: think that's true. You know, we have nuisance laws in Cincinnati,

1336
01:06:26,960 --> 01:06:28,560
Speaker 2: and I could never figure this out. Is if you

1337
01:06:28,560 --> 01:06:30,680
Speaker 2: own property in Cincinnati and you rent it out and

1338
01:06:30,760 --> 01:06:34,280
Speaker 2: people are you know, either Airbnb or verbal or just

1339
01:06:34,400 --> 01:06:37,160
Speaker 2: rental just you know, regular rental, long term ratl short tomorrow,

1340
01:06:38,800 --> 01:06:41,600
Speaker 2: if those people are causing a problem and then you know,

1341
01:06:41,800 --> 01:06:43,920
Speaker 2: causing the neighborhood, maybe racing up and down the street,

1342
01:06:44,040 --> 01:06:45,960
Speaker 2: or there's trash all over the place, or playing in

1343
01:06:46,040 --> 01:06:49,800
Speaker 2: loud music right their nuisance, the city of Cincinnati makes

1344
01:06:49,840 --> 01:06:52,960
Speaker 2: somehow the landlord eventually responsible for that. Like no, if

1345
01:06:53,000 --> 01:06:55,000
Speaker 2: you're an adult and you're renting property and you are

1346
01:06:55,120 --> 01:06:58,960
Speaker 2: doing stuff like that, that that that's on the city,

1347
01:06:59,000 --> 01:07:02,280
Speaker 2: that's on law enforce meant to cite that person. That

1348
01:07:02,280 --> 01:07:04,360
Speaker 2: shouldn't be on the landlord. I mean, if they're in

1349
01:07:04,400 --> 01:07:06,040
Speaker 2: there dealing drugs and I know about it, maybe a

1350
01:07:06,080 --> 01:07:08,840
Speaker 2: different story. But if they're just a nuisance, that's the

1351
01:07:08,880 --> 01:07:12,080
Speaker 2: individual's responsibility. I you know, I don't get a ticket,

1352
01:07:12,440 --> 01:07:15,520
Speaker 2: speeding ticket because you know, my son uses my car,

1353
01:07:15,600 --> 01:07:17,760
Speaker 2: let's say. And that was the argument with speed cameras obviously,

1354
01:07:17,880 --> 01:07:20,320
Speaker 2: is you're citing me for something I can't control.

1355
01:07:20,400 --> 01:07:22,120
Speaker 4: That's that's on them, give them the ticket.

1356
01:07:23,400 --> 01:07:26,080
Speaker 6: We should the people who are doing the offense of people.

1357
01:07:26,080 --> 01:07:28,200
Speaker 6: That should be right. Both that's the law and that's

1358
01:07:28,240 --> 01:07:31,840
Speaker 6: exactly right. That's what should happen. Now if you're again

1359
01:07:32,040 --> 01:07:34,440
Speaker 6: doing this on an ongoing basis where you're not taking

1360
01:07:34,440 --> 01:07:36,480
Speaker 6: care to bet the people that you have coming in

1361
01:07:36,840 --> 01:07:39,480
Speaker 6: and this isn't you know, an isolated incident that's happening

1362
01:07:39,480 --> 01:07:41,400
Speaker 6: all the time. I think there may be a little

1363
01:07:41,400 --> 01:07:43,160
Speaker 6: bit of a different argument there because at that point

1364
01:07:43,240 --> 01:07:46,440
Speaker 6: you are sort of not taking the responsibility with your

1365
01:07:46,440 --> 01:07:48,479
Speaker 6: own property at that point, and then you are having

1366
01:07:48,480 --> 01:07:51,640
Speaker 6: an avergine impact from your neighbors and stuff. But the

1367
01:07:51,720 --> 01:07:54,000
Speaker 6: point that it is disturbing about this is when when

1368
01:07:54,000 --> 01:07:56,920
Speaker 6: you make these blanket terminations by the local governments just

1369
01:07:56,960 --> 01:07:59,760
Speaker 6: not doing which is actually I think really remarkable, when

1370
01:07:59,760 --> 01:08:02,880
Speaker 6: you because you make curlier we have this profit taxes

1371
01:08:04,000 --> 01:08:07,320
Speaker 6: and we have local governments who should be scared quite

1372
01:08:07,360 --> 01:08:09,960
Speaker 6: a bit about the prospects of that making the ballot.

1373
01:08:10,200 --> 01:08:12,360
Speaker 6: Whether it does or not, nobody can say for sure

1374
01:08:12,400 --> 01:08:15,040
Speaker 6: at this point because they haven't sumitted signatures for this

1375
01:08:15,120 --> 01:08:18,519
Speaker 6: constitucial limit. But if that happens, you never believe they're

1376
01:08:18,560 --> 01:08:20,200
Speaker 6: going to want to have some revenue. But you're gonna

1377
01:08:20,200 --> 01:08:21,840
Speaker 6: have a hard time having revenue by the time you

1378
01:08:21,840 --> 01:08:24,280
Speaker 6: start banning everybody from being able to do that thing. Yeah,

1379
01:08:24,320 --> 01:08:27,040
Speaker 6: it just makes no sense from so many different perspectives. Well,

1380
01:08:27,520 --> 01:08:27,840
Speaker 6: is it great?

1381
01:08:27,840 --> 01:08:28,040
Speaker 1: Great?

1382
01:08:28,040 --> 01:08:28,600
Speaker 4: Where does it end?

1383
01:08:28,640 --> 01:08:30,760
Speaker 2: I mean, like, if I'm I use my house, let's say,

1384
01:08:30,760 --> 01:08:32,760
Speaker 2: for my small business, do I have to pay an

1385
01:08:32,760 --> 01:08:33,519
Speaker 2: extra tax there?

1386
01:08:33,760 --> 01:08:34,120
Speaker 4: I don't know.

1387
01:08:34,200 --> 01:08:37,559
Speaker 2: My spouse is really good makes sourd o bread and

1388
01:08:37,640 --> 01:08:39,000
Speaker 2: she's selling some sourdough bread.

1389
01:08:39,040 --> 01:08:39,400
Speaker 6: Do I have to?

1390
01:08:39,680 --> 01:08:41,639
Speaker 2: I mean, where do I Wand with the taxation here,

1391
01:08:41,680 --> 01:08:43,960
Speaker 2: I'm already paying the damn property taxes we're you're too

1392
01:08:44,000 --> 01:08:46,599
Speaker 2: damn high, and now if I rent it out, I've

1393
01:08:46,640 --> 01:08:50,320
Speaker 2: got to pay even more. You mentioned too zero protections

1394
01:08:50,320 --> 01:08:52,880
Speaker 2: for the whole What does that mean the zero protection area.

1395
01:08:53,080 --> 01:08:55,880
Speaker 6: Well, we're basically saying that people have the right to

1396
01:08:55,880 --> 01:08:57,720
Speaker 6: be able to make decisions with what they want to

1397
01:08:57,720 --> 01:09:00,519
Speaker 6: do with their property. Obviously, with the reason. You know,

1398
01:09:00,640 --> 01:09:02,360
Speaker 6: you know, there are certain things where you can't let

1399
01:09:02,360 --> 01:09:04,679
Speaker 6: your properly go to the hell and a hand askt

1400
01:09:04,720 --> 01:09:08,040
Speaker 6: and stuff of that nature. But this whole notion, and

1401
01:09:08,080 --> 01:09:11,559
Speaker 6: it's happening in jurisdiction after jurisdiction where they can come

1402
01:09:11,600 --> 01:09:13,519
Speaker 6: in and stop it. And I harp on this point

1403
01:09:13,560 --> 01:09:16,200
Speaker 6: because this is not isolating what this isn't one or

1404
01:09:16,200 --> 01:09:18,799
Speaker 6: two jurisdictions, and it isn't just one or two places

1405
01:09:18,840 --> 01:09:20,760
Speaker 6: in the state. It's really it's all over the state

1406
01:09:20,920 --> 01:09:24,440
Speaker 6: the proportion, So it's not it's not just a regional phenomenon.

1407
01:09:24,720 --> 01:09:26,320
Speaker 6: And this is the problem that I see, which is

1408
01:09:26,400 --> 01:09:28,880
Speaker 6: local government, you know, kind of running them off with

1409
01:09:28,920 --> 01:09:31,519
Speaker 6: these things. Yeah, it's a it's actually a much bigger issue.

1410
01:09:31,520 --> 01:09:33,679
Speaker 6: I mean, there's there's a whole bunch of problems frankly

1411
01:09:33,720 --> 01:09:36,559
Speaker 6: with local government and II and I think I've molmented

1412
01:09:36,600 --> 01:09:39,080
Speaker 6: some of those in the past on your show, and

1413
01:09:39,200 --> 01:09:40,200
Speaker 6: I probably will again.

1414
01:09:41,479 --> 01:09:42,880
Speaker 4: We're on the same page.

1415
01:09:43,280 --> 01:09:45,280
Speaker 6: And this is just one more example of it. So

1416
01:09:45,760 --> 01:09:48,280
Speaker 6: you know, again, there's some bills that are out there,

1417
01:09:48,320 --> 01:09:52,920
Speaker 6: by the way that would have some degree, would would

1418
01:09:52,920 --> 01:09:56,000
Speaker 6: maybe do the tax, but would include prohibitions and preempt

1419
01:09:56,040 --> 01:09:59,200
Speaker 6: local government from being able to do the banning of

1420
01:09:59,479 --> 01:10:00,680
Speaker 6: the short term rentals.

1421
01:10:01,160 --> 01:10:04,240
Speaker 4: How do how does the home rule apply there?

1422
01:10:04,280 --> 01:10:07,519
Speaker 6: Though, well, I'm sure they'll sue uh and make an

1423
01:10:07,600 --> 01:10:11,000
Speaker 6: argument that that's violation. But if it's written the right way,

1424
01:10:11,479 --> 01:10:14,240
Speaker 6: the legislature does have the ability to write laws that

1425
01:10:14,280 --> 01:10:18,360
Speaker 6: are of statewide applicability. Now that's a little sometimes it's

1426
01:10:18,400 --> 01:10:20,160
Speaker 6: been in the eye of beholder, and there's been a

1427
01:10:20,200 --> 01:10:23,439
Speaker 6: lot of push and pull, frankly, between the General Assembly

1428
01:10:23,720 --> 01:10:27,880
Speaker 6: and local governments, especially in recent years, over many different things.

1429
01:10:27,880 --> 01:10:31,160
Speaker 6: There's been second amendment to issues. There's been issues like

1430
01:10:31,520 --> 01:10:35,560
Speaker 6: plastic bags, some jurisdictions way in the dand cracking and

1431
01:10:35,840 --> 01:10:38,439
Speaker 6: so there's all these various things that happened. But we've

1432
01:10:38,479 --> 01:10:40,680
Speaker 6: made the case of the buck ask that that the

1433
01:10:40,680 --> 01:10:42,960
Speaker 6: General simply have the right to be able to do preemption,

1434
01:10:43,520 --> 01:10:47,920
Speaker 6: because if you allow all these locals to prevent all

1435
01:10:47,920 --> 01:10:50,439
Speaker 6: sorts of different active short term rentals, it's certainly one

1436
01:10:50,439 --> 01:10:52,719
Speaker 6: of them. But you know, we're seeing this with data

1437
01:10:52,760 --> 01:10:56,479
Speaker 6: centers too now coming out, so we're seeing a lot

1438
01:10:56,520 --> 01:10:59,080
Speaker 6: of these things, and the General simply has acted in

1439
01:10:59,120 --> 01:11:02,240
Speaker 6: the past to say no, you can't do that. They

1440
01:11:02,439 --> 01:11:06,080
Speaker 6: and we think that under certain circumstances, that is an

1441
01:11:06,080 --> 01:11:08,680
Speaker 6: appropriate thing, because what you end up with is you

1442
01:11:08,800 --> 01:11:11,360
Speaker 6: end up with a you know, it's sort of a

1443
01:11:11,400 --> 01:11:13,800
Speaker 6: little bit of a joke to say it this way,

1444
01:11:13,800 --> 01:11:17,400
Speaker 6: but it's a crazy patchwork of different regulations and frusteristations.

1445
01:11:17,640 --> 01:11:20,240
Speaker 6: But that makes it hard to do different things. And

1446
01:11:20,400 --> 01:11:23,719
Speaker 6: it's one of the problems Ohio has, and at a

1447
01:11:23,800 --> 01:11:26,439
Speaker 6: mid Western state issue in general, because of a sort

1448
01:11:26,439 --> 01:11:28,880
Speaker 6: of the history there. But when you look at southern

1449
01:11:28,880 --> 01:11:30,680
Speaker 6: states and you look at Western states, and you look

1450
01:11:30,680 --> 01:11:33,320
Speaker 6: at states that are really growing with populations that are

1451
01:11:33,560 --> 01:11:36,479
Speaker 6: really expanding. You know, you can talk about the weather

1452
01:11:36,520 --> 01:11:39,160
Speaker 6: and stuff, and I'm sure that has some degree of influence,

1453
01:11:39,640 --> 01:11:43,680
Speaker 6: but it's taxes, it's regulations, and Kino taxes and regulations

1454
01:11:43,760 --> 01:11:46,479
Speaker 6: now are worse at the local level than they are

1455
01:11:46,479 --> 01:11:49,040
Speaker 6: at the state level. Well, that is something that less

1456
01:11:49,080 --> 01:11:49,800
Speaker 6: that you need to deal with.

1457
01:11:49,880 --> 01:11:51,200
Speaker 4: Yeah, I mean, look look at it this way.

1458
01:11:51,280 --> 01:11:55,080
Speaker 2: Kathy Hochell, governor in New York State, she went on Campaigtrios, said, hey, listen,

1459
01:11:55,080 --> 01:11:56,840
Speaker 2: you know what, if you're a billionaire, if you've got

1460
01:11:56,840 --> 01:11:59,519
Speaker 2: all this money, we don't want you here unless you're

1461
01:11:59,520 --> 01:12:01,840
Speaker 2: going to pay your fair share. Well, guess what, I

1462
01:12:01,920 --> 01:12:04,519
Speaker 2: just saw a study where a huge number of them

1463
01:12:05,000 --> 01:12:08,600
Speaker 2: have moved to Texas, cal I think, Arizona, California, some

1464
01:12:09,080 --> 01:12:11,680
Speaker 2: some of California, don't know why, but to Texas primarily.

1465
01:12:11,760 --> 01:12:14,200
Speaker 2: And now she's she's begging those people to come back

1466
01:12:15,120 --> 01:12:17,280
Speaker 2: because they you know, she guys said I'm gonna screw.

1467
01:12:17,120 --> 01:12:18,760
Speaker 4: You when it comes to taxes. You should be paying

1468
01:12:18,760 --> 01:12:19,240
Speaker 4: your fair share.

1469
01:12:19,280 --> 01:12:24,000
Speaker 2: Well, guess what liberal Democrat or conservative Republican aside, they

1470
01:12:24,000 --> 01:12:25,679
Speaker 2: all moved out of the state and now they don't

1471
01:12:25,680 --> 01:12:27,720
Speaker 2: have enough money to pay for their what it is

1472
01:12:27,760 --> 01:12:29,760
Speaker 2: they want to do, the same thing would apply here.

1473
01:12:29,800 --> 01:12:33,559
Speaker 2: I mean Indiana, Florida and Arizona also do this as well,

1474
01:12:33,560 --> 01:12:36,400
Speaker 2: where they blocked local short term rental bands. And Ohio

1475
01:12:36,400 --> 01:12:38,280
Speaker 2: wants to be next. By the way, Greg Lawson's here

1476
01:12:38,280 --> 01:12:41,680
Speaker 2: from Buckeye Institute in Columbus as the state of Ohio

1477
01:12:42,120 --> 01:12:45,120
Speaker 2: yesterday took the THG drinks away today higher taxes a

1478
01:12:45,200 --> 01:12:47,280
Speaker 2: top of the insane property tax were paying. Now, if

1479
01:12:47,320 --> 01:12:48,880
Speaker 2: you want to rent out your home of the weekend

1480
01:12:48,920 --> 01:12:52,240
Speaker 2: as someone, they want to tax you and there's no

1481
01:12:52,320 --> 01:12:55,120
Speaker 2: protections there for you, basically meaning they're going to tax

1482
01:12:55,160 --> 01:12:57,720
Speaker 2: the activity and not protect your right to do it.

1483
01:12:58,640 --> 01:13:00,639
Speaker 2: And you know you could pay tax today and face

1484
01:13:00,680 --> 01:13:03,400
Speaker 2: a local band tomorrow in your state or in your

1485
01:13:03,439 --> 01:13:06,559
Speaker 2: township municipality. HOA is different because that's part of the

1486
01:13:06,600 --> 01:13:09,679
Speaker 2: deal when you buy something in an HOA. But Greg Lawson,

1487
01:13:10,040 --> 01:13:12,240
Speaker 2: I can't help but think back to all of these

1488
01:13:12,640 --> 01:13:15,680
Speaker 2: seismic shifts, these change agents that happened in the world

1489
01:13:16,880 --> 01:13:19,000
Speaker 2: back in the day when Uber and Lyft came along.

1490
01:13:19,120 --> 01:13:21,519
Speaker 2: I remember tax I remember the cab drivers, Like at

1491
01:13:21,680 --> 01:13:24,920
Speaker 2: CBG at the airport, we're up an arms saying wait, well,

1492
01:13:24,960 --> 01:13:27,320
Speaker 2: hold on just a second. If you have these independent

1493
01:13:27,360 --> 01:13:29,160
Speaker 2: people coming in not paying a tax, they're not paying

1494
01:13:29,160 --> 01:13:32,880
Speaker 2: all these fees and fares, what about our They wanted

1495
01:13:32,880 --> 01:13:34,479
Speaker 2: to protect their industry. I think the same thing is

1496
01:13:34,479 --> 01:13:38,880
Speaker 2: happening here with the rentals. This has got to be

1497
01:13:38,920 --> 01:13:42,120
Speaker 2: the hotel motel industry that pays an exorbited amount of taxes.

1498
01:13:42,200 --> 01:13:43,960
Speaker 2: Like every time we raise a tack, well we'll just

1499
01:13:43,960 --> 01:13:45,439
Speaker 2: add to the luxury check. We'll just add to the

1500
01:13:45,439 --> 01:13:48,240
Speaker 2: hotel motel tax on this. And when you get a

1501
01:13:48,240 --> 01:13:51,400
Speaker 2: hotel night for I don't know, one hundred and fifty bucks,

1502
01:13:51,560 --> 01:13:53,360
Speaker 2: you get the bill, and it's like, you know, almost

1503
01:13:53,400 --> 01:13:56,040
Speaker 2: two hundred dollars are probably more than two hundred because

1504
01:13:56,120 --> 01:13:58,200
Speaker 2: of the taxes added on here. I feel for the

1505
01:13:58,439 --> 01:14:03,240
Speaker 2: established business is like hotels, motels in this case taxes.

1506
01:14:03,280 --> 01:14:06,599
Speaker 2: I mean New York City alone, the price of a

1507
01:14:06,680 --> 01:14:10,320
Speaker 2: hack medallion, which basically is a transferable physical license plate

1508
01:14:10,360 --> 01:14:12,720
Speaker 2: that's a round circle to medallion and they attach it

1509
01:14:12,720 --> 01:14:14,360
Speaker 2: to the hood of a yellow cab in New York

1510
01:14:15,439 --> 01:14:17,400
Speaker 2: the cost of one of those medallions is now over

1511
01:14:17,479 --> 01:14:21,000
Speaker 2: a million dollars. So from a business perspective, it doesn't

1512
01:14:21,000 --> 01:14:23,960
Speaker 2: seem fair that they're competing with uber and left drivers

1513
01:14:23,960 --> 01:14:25,559
Speaker 2: who don't have to pay that exorbitant tax.

1514
01:14:25,600 --> 01:14:26,880
Speaker 4: I think this is the same model.

1515
01:14:27,920 --> 01:14:29,559
Speaker 6: Well, I think this is a broad That is a

1516
01:14:29,560 --> 01:14:31,800
Speaker 6: big question about taxation and what's a fair tax. Where

1517
01:14:31,800 --> 01:14:35,200
Speaker 6: everybody is and when you're mailing certain people, they're going

1518
01:14:35,280 --> 01:14:37,840
Speaker 6: to get very upset about the new entrance into the marketplace,

1519
01:14:38,240 --> 01:14:40,280
Speaker 6: and so they're going to you know, they prefer them

1520
01:14:40,280 --> 01:14:42,320
Speaker 6: to you know, not enter the marketplaces, but they certainly

1521
01:14:42,320 --> 01:14:44,400
Speaker 6: want them to do that. That's just where you start

1522
01:14:44,400 --> 01:14:47,720
Speaker 6: hearing about the level playing field argument, which on one

1523
01:14:47,760 --> 01:14:51,120
Speaker 6: hand is correct. That's an economic theory. It says it

1524
01:14:51,120 --> 01:14:53,120
Speaker 6: it's a right thing to do is to make sure

1525
01:14:53,200 --> 01:14:55,960
Speaker 6: that people that are similar kinds of businesses aren't being

1526
01:14:56,760 --> 01:15:01,639
Speaker 6: disproportionately impacted one versus another because of a specific rule

1527
01:15:02,080 --> 01:15:04,960
Speaker 6: or in taxation. You want it to be fair across

1528
01:15:04,960 --> 01:15:07,439
Speaker 6: the board. And so that's certainly the argument they're using.

1529
01:15:07,479 --> 01:15:09,360
Speaker 6: And I think you have to look at what are

1530
01:15:09,400 --> 01:15:11,840
Speaker 6: we doing with these revenues. I mean, we've had lodging

1531
01:15:11,880 --> 01:15:13,760
Speaker 6: tetch for a while, and unfortunately it's a sort of

1532
01:15:13,760 --> 01:15:17,800
Speaker 6: scene that the soapy allow counters like right, because what

1533
01:15:17,880 --> 01:15:20,599
Speaker 6: you're essentially saying is we're going to raise the revenue

1534
01:15:20,600 --> 01:15:23,800
Speaker 6: on the backs of people who don't necessarily live so

1535
01:15:23,840 --> 01:15:25,760
Speaker 6: that we can do that now, you know, I mean

1536
01:15:25,800 --> 01:15:28,640
Speaker 6: they that is the Florida certainly does do that with

1537
01:15:28,680 --> 01:15:30,080
Speaker 6: some of their taxes and stuff because we have a

1538
01:15:30,120 --> 01:15:32,880
Speaker 6: lot of tourism and stuff that comes through there.

1539
01:15:33,280 --> 01:15:33,400
Speaker 1: Uh.

1540
01:15:33,600 --> 01:15:35,720
Speaker 6: And so I get what the rationale is, but we

1541
01:15:36,040 --> 01:15:38,040
Speaker 6: need to be really careful how we think about this

1542
01:15:38,120 --> 01:15:40,759
Speaker 6: and when we're doing this, and you occasionally see bills

1543
01:15:40,760 --> 01:15:43,280
Speaker 6: and the or things and budget bills and stuff. They'll

1544
01:15:43,280 --> 01:15:46,559
Speaker 6: had an additional thing for one visitor Bereavers another Visitors Bureau,

1545
01:15:46,840 --> 01:15:48,719
Speaker 6: and I'm not trying to just brag on them. They

1546
01:15:48,800 --> 01:15:52,479
Speaker 6: can't help to raise awareness, do certain things to build

1547
01:15:52,520 --> 01:15:57,800
Speaker 6: the infrastructure to bring in concerts or conferences or what

1548
01:15:57,960 --> 01:16:00,960
Speaker 6: are sporting events and stuff like that. So there may

1549
01:16:00,960 --> 01:16:03,200
Speaker 6: be some rationale for some of that, but we need

1550
01:16:03,240 --> 01:16:05,559
Speaker 6: to be very careful when we're applying this and then

1551
01:16:05,640 --> 01:16:08,120
Speaker 6: when we start applaying it to new people. We need

1552
01:16:08,160 --> 01:16:10,800
Speaker 6: to really think about what we're doing and how we're

1553
01:16:10,840 --> 01:16:12,880
Speaker 6: spending the existing resources that we have.

1554
01:16:13,080 --> 01:16:15,200
Speaker 2: Greg Laws and Buckeye and watch out for it. It's

1555
01:16:15,200 --> 01:16:19,360
Speaker 2: House Bill one sixty one. Come in for more property texts,

1556
01:16:19,400 --> 01:16:22,000
Speaker 2: basically what this is all the best, Thanks again, Bud,

1557
01:16:22,000 --> 01:16:22,559
Speaker 2: I appreciate you.

1558
01:16:23,200 --> 01:16:23,599
Speaker 6: Thank you.

1559
01:16:24,000 --> 01:16:25,960
Speaker 2: We'll get a news update in here momentarily on the

1560
01:16:25,960 --> 01:16:28,000
Speaker 2: Big one seven hundred WW. This is why I wake

1561
01:16:28,080 --> 01:16:29,200
Speaker 2: up in the morning to see how we're going to

1562
01:16:29,240 --> 01:16:31,160
Speaker 2: get screwed the next day and then talk to you

1563
01:16:31,240 --> 01:16:34,559
Speaker 2: about it. Coming up next, Andy Schaeffer, we'll look at

1564
01:16:34,560 --> 01:16:36,320
Speaker 2: the other side of this thing. If you're hearing this goes,

1565
01:16:36,320 --> 01:16:38,320
Speaker 2: oh it's too much. Hold on just a second. I

1566
01:16:38,360 --> 01:16:39,840
Speaker 2: got some information for it. It's going to make you

1567
01:16:39,880 --> 01:16:42,040
Speaker 2: a little bit happier today despite all the craziness in

1568
01:16:42,040 --> 01:16:42,439
Speaker 2: the world.

1569
01:16:42,880 --> 01:16:44,360
Speaker 4: Simply money. Next seven hundred w.

1570
01:16:44,400 --> 01:16:48,120
Speaker 11: Do time to talk about money, how to make it,

1571
01:16:48,360 --> 01:16:51,320
Speaker 11: how to keep it, and how to keep others off

1572
01:16:51,400 --> 01:16:58,400
Speaker 11: your stack. This is all worth advice with Andy Schaeffer.

1573
01:16:58,479 --> 01:17:00,360
Speaker 2: All Right, I promised we had some hand news for

1574
01:17:00,400 --> 01:17:04,000
Speaker 2: your today, happy news today. And Andy, what happy news

1575
01:17:04,000 --> 01:17:07,160
Speaker 2: do we have today relative to your savings, your investment,

1576
01:17:07,280 --> 01:17:10,280
Speaker 2: your future, your retirement, your college fund, on all that stuff.

1577
01:17:10,320 --> 01:17:12,439
Speaker 4: Anything good, Give me something. Lead off with a good story.

1578
01:17:12,600 --> 01:17:16,200
Speaker 9: Okay, that sounds good, well fed. Sherman Powell spoke last week.

1579
01:17:16,600 --> 01:17:20,160
Speaker 9: The FOMC had their regular meeting, and one of the

1580
01:17:20,160 --> 01:17:22,120
Speaker 9: good things that came out of it, and you know,

1581
01:17:22,280 --> 01:17:23,880
Speaker 9: not all of it was good, but what he did

1582
01:17:23,920 --> 01:17:26,120
Speaker 9: say is that our growth is tracking a little bit

1583
01:17:26,200 --> 01:17:29,080
Speaker 9: higher this year than we previously thought. So, you know,

1584
01:17:29,120 --> 01:17:32,200
Speaker 9: in spite of everything that's going on and Iran, you know,

1585
01:17:32,200 --> 01:17:34,680
Speaker 9: we're looking at GDP growth this year about.

1586
01:17:34,400 --> 01:17:35,479
Speaker 4: Two point six percent.

1587
01:17:35,600 --> 01:17:37,880
Speaker 9: So there's something for you to start out with to

1588
01:17:37,880 --> 01:17:39,200
Speaker 9: get it going on a positive note.

1589
01:17:39,240 --> 01:17:42,360
Speaker 2: You know, earlier this morning I mentioned this, and it's true.

1590
01:17:42,360 --> 01:17:46,200
Speaker 2: You know, consumer sentiment is cratered. It's below the financial

1591
01:17:46,240 --> 01:17:51,240
Speaker 2: crisis and pandemic lows, and the economic perception is that

1592
01:17:51,280 --> 01:17:53,639
Speaker 2: things aren't good right now, and Democrats are way more

1593
01:17:53,640 --> 01:17:56,040
Speaker 2: negative on the economy Republicans under Biden were at this

1594
01:17:56,080 --> 01:17:58,400
Speaker 2: particular time, which shows you how the needle moves right,

1595
01:17:58,520 --> 01:18:01,680
Speaker 2: and I point it is early going. You know, if

1596
01:18:01,680 --> 01:18:03,720
Speaker 2: you start looking at things, if you start looking at

1597
01:18:03,720 --> 01:18:07,320
Speaker 2: the economy, it really the needle hasn't moved that much.

1598
01:18:07,400 --> 01:18:09,639
Speaker 2: While some of the parts of the puzzle may have changed.

1599
01:18:10,000 --> 01:18:14,360
Speaker 2: You know, gas prices, for example, are are going up, right,

1600
01:18:14,400 --> 01:18:17,240
Speaker 2: but that's off set by other things that really, whether

1601
01:18:17,240 --> 01:18:18,920
Speaker 2: it was Biden or Trump. If you look at the

1602
01:18:19,000 --> 01:18:21,920
Speaker 2: Coracon economic numbers that you're talking about here, not a

1603
01:18:21,920 --> 01:18:24,960
Speaker 2: lot has changed like that. It's it's not a speedboat,

1604
01:18:24,960 --> 01:18:27,120
Speaker 2: it's an ocean liner. The economy, that's right.

1605
01:18:27,160 --> 01:18:31,880
Speaker 9: And you know, furthermore, we saw the FOMC characterize unemployment

1606
01:18:31,920 --> 01:18:34,040
Speaker 9: as little changed as well. You know, we're looking at

1607
01:18:34,040 --> 01:18:37,120
Speaker 9: an unemployment rate to remain at about four point four percent. Now,

1608
01:18:37,320 --> 01:18:39,360
Speaker 9: obviously that's a little bit higher than it was last

1609
01:18:39,439 --> 01:18:42,080
Speaker 9: year or the year before, but historically that's really good.

1610
01:18:42,120 --> 01:18:44,679
Speaker 4: Scott, Yeah, one hundred percent.

1611
01:18:45,120 --> 01:18:47,599
Speaker 2: And you know there's a I think a truth social

1612
01:18:47,640 --> 01:18:52,719
Speaker 2: effect as well. A single social media post from President

1613
01:18:52,720 --> 01:18:55,599
Speaker 2: Trump sent oil prices down like fifteen dollars a barrel.

1614
01:18:55,960 --> 01:18:57,920
Speaker 2: The S and P was more than, you know, one

1615
01:18:58,040 --> 01:19:00,760
Speaker 2: two percent in two minutes. So it's like a lot

1616
01:19:00,800 --> 01:19:02,760
Speaker 2: of the investors are reacting to what he's putting out

1617
01:19:02,760 --> 01:19:05,479
Speaker 2: on social and that's crazy because normally we don't pay

1618
01:19:05,479 --> 01:19:06,000
Speaker 2: attention to that.

1619
01:19:06,040 --> 01:19:08,400
Speaker 4: Why is this different, Well, I think people do pay

1620
01:19:08,439 --> 01:19:09,080
Speaker 4: attention to it.

1621
01:19:09,120 --> 01:19:11,800
Speaker 9: You know, Normally a lot of investors react to headlines

1622
01:19:11,960 --> 01:19:14,240
Speaker 9: and a lot of minutia, and sometimes they can be

1623
01:19:14,840 --> 01:19:18,640
Speaker 9: irrational in nature. And obviously this isn't ideal with what

1624
01:19:18,680 --> 01:19:20,960
Speaker 9: we're going through with Iran. You know, there's a lot

1625
01:19:20,960 --> 01:19:23,759
Speaker 9: of fears from not only the citizens of the United States,

1626
01:19:23,760 --> 01:19:26,600
Speaker 9: but investors in general. And it all comes down to

1627
01:19:26,640 --> 01:19:29,240
Speaker 9: the straight over moves. You know, what does it look like?

1628
01:19:29,280 --> 01:19:31,400
Speaker 9: We're at war with Iran? You know, we continue to

1629
01:19:31,439 --> 01:19:34,160
Speaker 9: bomb over there. And basically what President Trump said is that, hey,

1630
01:19:34,160 --> 01:19:36,679
Speaker 9: we actually have some talks that are going on right now.

1631
01:19:37,720 --> 01:19:40,160
Speaker 9: So he said that he's going to suspend a lot

1632
01:19:40,160 --> 01:19:43,439
Speaker 9: of the bombing, particularly on the energy sites in Iran,

1633
01:19:43,560 --> 01:19:45,680
Speaker 9: and he said, hey, we're talking to them now. Interestingly,

1634
01:19:46,160 --> 01:19:50,479
Speaker 9: Iran came back and their parliamentary president basically said, you know,

1635
01:19:50,680 --> 01:19:53,240
Speaker 9: that's fake news, using a term that Trump always uses,

1636
01:19:53,280 --> 01:19:55,360
Speaker 9: and said that you know, we're not having any talks,

1637
01:19:55,479 --> 01:19:58,559
Speaker 9: but I do suspect that talks have been going on.

1638
01:19:58,720 --> 01:20:03,320
Speaker 9: Iran typically does. There's been examples of Iran delegates and

1639
01:20:03,560 --> 01:20:06,080
Speaker 9: United States delegates in the same hotel where they would

1640
01:20:06,080 --> 01:20:08,760
Speaker 9: have to change their schedules so it didn't appear that

1641
01:20:08,800 --> 01:20:10,880
Speaker 9: Iran was actually talking to the United States.

1642
01:20:10,920 --> 01:20:12,120
Speaker 4: So they have a history of this.

1643
01:20:13,040 --> 01:20:15,040
Speaker 9: So these five days are critical, and that's why we

1644
01:20:15,080 --> 01:20:18,479
Speaker 9: saw the market's rise significantly yesterday. If it starts to

1645
01:20:18,520 --> 01:20:20,720
Speaker 9: appear that we're going to have a resolution and the

1646
01:20:20,720 --> 01:20:23,519
Speaker 9: straight oh Hoordor moves starts to open up, you're going

1647
01:20:23,560 --> 01:20:25,679
Speaker 9: to see not only oil prices fall, which we saw

1648
01:20:25,800 --> 01:20:28,360
Speaker 9: yesterday they were somewhere in the low nineties, but they

1649
01:20:28,360 --> 01:20:30,160
Speaker 9: will continue to fall. And if you're out of the

1650
01:20:30,160 --> 01:20:31,800
Speaker 9: market at this point and we do come to an

1651
01:20:31,840 --> 01:20:34,639
Speaker 9: agreement with Iran, you're going to be left holding the back.

1652
01:20:34,760 --> 01:20:35,000
Speaker 6: Yeah.

1653
01:20:35,200 --> 01:20:37,160
Speaker 2: And as I mentioned before, you the data show's GDP

1654
01:20:37,280 --> 01:20:40,360
Speaker 2: growth you mentioned inflation waged unployment kind of identical to

1655
01:20:40,360 --> 01:20:43,320
Speaker 2: where we were last time before, it's pre Trump and

1656
01:20:43,320 --> 01:20:46,479
Speaker 2: now with Trump and the numbers haven't really changed, consumer

1657
01:20:46,520 --> 01:20:48,960
Speaker 2: sentiment keeps hitting new loads. Is that because we're bombarded

1658
01:20:48,960 --> 01:20:50,400
Speaker 2: by negative information all the time.

1659
01:20:50,600 --> 01:20:52,280
Speaker 9: That's part of it. But I also think it's the

1660
01:20:52,320 --> 01:20:54,599
Speaker 9: potential fear of what can happen if we don't rep

1661
01:20:54,640 --> 01:20:57,240
Speaker 9: this thing up in Iran right, and if it continues

1662
01:20:57,280 --> 01:21:00,000
Speaker 9: to delay and delay, and remember Iran is very good

1663
01:21:00,240 --> 01:21:02,800
Speaker 9: and negotiations and delaying to try to get what they want.

1664
01:21:03,080 --> 01:21:05,000
Speaker 9: If that continues on and we do start to see

1665
01:21:05,000 --> 01:21:07,519
Speaker 9: oil prices creep back up again, if they start to

1666
01:21:07,520 --> 01:21:10,439
Speaker 9: get over one hundred and twenty five dollars per barrel,

1667
01:21:11,000 --> 01:21:13,680
Speaker 9: that can have a long term impact on inflation. And

1668
01:21:13,720 --> 01:21:15,599
Speaker 9: certainly what we don't want to see is the FED

1669
01:21:15,680 --> 01:21:18,880
Speaker 9: have to reverse course and start to raise interest rates

1670
01:21:18,960 --> 01:21:21,360
Speaker 9: as opposed to cut interest rates. And if that happens,

1671
01:21:21,439 --> 01:21:23,599
Speaker 9: you'll see the markets start to tank. So I think

1672
01:21:23,640 --> 01:21:25,720
Speaker 9: a lot of what investors are looking at now are

1673
01:21:25,720 --> 01:21:27,960
Speaker 9: trying to play the odds to say, does it look

1674
01:21:28,040 --> 01:21:30,760
Speaker 9: like we're having success or does it look like this

1675
01:21:30,760 --> 01:21:32,320
Speaker 9: thing can spiral out of control?

1676
01:21:32,439 --> 01:21:32,679
Speaker 3: Now?

1677
01:21:32,920 --> 01:21:36,880
Speaker 9: The FED Chairman's pals credit when asked directly about the

1678
01:21:36,880 --> 01:21:39,320
Speaker 9: conflict in Iran and how does that have an effect

1679
01:21:39,400 --> 01:21:42,040
Speaker 9: on their decision making from a FED point of view.

1680
01:21:42,040 --> 01:21:44,639
Speaker 9: He basically brushed it off and said, you know, it's

1681
01:21:44,680 --> 01:21:45,599
Speaker 9: just too soon to tell.

1682
01:21:45,640 --> 01:21:45,960
Speaker 3: On that.

1683
01:21:46,160 --> 01:21:49,160
Speaker 9: He said, usually when we have these types of geopolitical conflicts,

1684
01:21:49,200 --> 01:21:53,120
Speaker 9: they are fairly short term. They're not overreacting to it.

1685
01:21:53,200 --> 01:21:54,840
Speaker 9: But they said that they are keeping an eye on it.

1686
01:21:54,920 --> 01:21:57,519
Speaker 9: Ooka for now, the FED isn't overly worried about what's

1687
01:21:57,520 --> 01:21:58,920
Speaker 9: going on in the Middle East.

1688
01:21:59,240 --> 01:22:02,000
Speaker 2: I guess it's the oil pricing. Right, Oil is right

1689
01:22:02,000 --> 01:22:05,479
Speaker 2: around just below ninety eight dollars. It went from one

1690
01:22:05,520 --> 01:22:07,720
Speaker 2: thirteen to ninety eight right after he Trump posted that

1691
01:22:07,800 --> 01:22:10,640
Speaker 2: on true social but it's still historically elevated. And what

1692
01:22:10,800 --> 01:22:13,680
Speaker 2: point does that become a serious drag on the economy.

1693
01:22:13,920 --> 01:22:16,840
Speaker 9: Yeah, So the problem from a data standpoint is if

1694
01:22:16,840 --> 01:22:19,320
Speaker 9: oil starts to go up higher than seventy five percent

1695
01:22:19,479 --> 01:22:22,160
Speaker 9: one hundred percent on a to your over year pricing,

1696
01:22:22,280 --> 01:22:24,439
Speaker 9: then it becomes a problem. And again that number somewhere

1697
01:22:24,439 --> 01:22:26,920
Speaker 9: around one hundred and twenty five dollars a barrel. I

1698
01:22:26,960 --> 01:22:29,599
Speaker 9: do think Donald Trump has a very close eye on that.

1699
01:22:29,720 --> 01:22:33,360
Speaker 9: He's already implementing some different things try to keep oil

1700
01:22:33,400 --> 01:22:35,680
Speaker 9: prices down. You know, he wanted to open up the

1701
01:22:35,720 --> 01:22:38,800
Speaker 9: Strategic Petroleum Reserve and release one hundred and seventy two

1702
01:22:39,160 --> 01:22:39,920
Speaker 9: million barrels.

1703
01:22:39,960 --> 01:22:40,479
Speaker 4: That's nothing.

1704
01:22:40,840 --> 01:22:42,920
Speaker 9: Yeah, well, and that's the point. You know, he's doing

1705
01:22:42,960 --> 01:22:44,920
Speaker 9: all these things. There's another one that you know they're

1706
01:22:44,920 --> 01:22:48,040
Speaker 9: looking at is, you know, trying to loosen the formula

1707
01:22:48,160 --> 01:22:51,800
Speaker 9: rules for gasoline. They're also talking about the potential of

1708
01:22:51,840 --> 01:22:55,200
Speaker 9: a fuel tax holiday worth about eighteen point four percent

1709
01:22:55,280 --> 01:22:58,280
Speaker 9: per gallon on gasoline and twenty four point four cents

1710
01:22:58,320 --> 01:23:00,720
Speaker 9: on diesel. Well, all these things, I think or just

1711
01:23:01,320 --> 01:23:03,800
Speaker 9: you know, just trying to shine up something that's not

1712
01:23:03,920 --> 01:23:06,400
Speaker 9: very shiny to make people feel better about things. It

1713
01:23:06,439 --> 01:23:09,519
Speaker 9: all comes down to the straight, oh horror moves our

1714
01:23:09,640 --> 01:23:12,720
Speaker 9: NATO partners and also our allies in the Middle East.

1715
01:23:12,760 --> 01:23:16,360
Speaker 9: You're starting to see Saudi Arabia and the UAE start

1716
01:23:16,439 --> 01:23:19,680
Speaker 9: to consider joining the war as well. Now, yes, that

1717
01:23:19,760 --> 01:23:22,800
Speaker 9: will help us, but that also push fears into the

1718
01:23:22,840 --> 01:23:26,640
Speaker 9: minds of investors that this conflict is expanding, not contracting.

1719
01:23:26,920 --> 01:23:29,080
Speaker 2: I got you, Andy Shaffer, simply money this morning on

1720
01:23:29,120 --> 01:23:32,040
Speaker 2: seven hundred WT. Sent you straight with the money. Taking

1721
01:23:32,040 --> 01:23:34,000
Speaker 2: the emotion out just getting to the fact, which I

1722
01:23:34,040 --> 01:23:37,479
Speaker 2: love very much. Some antlers are saying that this could

1723
01:23:37,520 --> 01:23:40,120
Speaker 2: be a repeat of nineteen seventy nine all over again,

1724
01:23:40,200 --> 01:23:43,639
Speaker 2: when the Shaw was run out of town, so to speak.

1725
01:23:43,840 --> 01:23:46,280
Speaker 2: And then of course we had the I told look

1726
01:23:46,360 --> 01:23:48,080
Speaker 2: put in place there, and we know the story from

1727
01:23:48,160 --> 01:23:50,720
Speaker 2: nineteen seventy nine, but we also had with that stagflation.

1728
01:23:51,120 --> 01:23:54,000
Speaker 2: But that only happens with the sustained attack on the

1729
01:23:54,040 --> 01:23:57,200
Speaker 2: Middle East oil infrastructure. How realistic is that risk right now?

1730
01:23:57,240 --> 01:23:59,760
Speaker 2: And what specific triggers investors are looking for?

1731
01:24:00,280 --> 01:24:03,000
Speaker 9: Yeah, so I think you know, people hear the terminology

1732
01:24:03,080 --> 01:24:07,400
Speaker 9: stagflation quite a bit. And essecially what stagflation is, it's

1733
01:24:07,479 --> 01:24:12,320
Speaker 9: slowing economic growth, high unemployment, and rising prices. So yes,

1734
01:24:12,400 --> 01:24:15,519
Speaker 9: if we start to see prices increase again, that's part

1735
01:24:15,560 --> 01:24:18,080
Speaker 9: of the fear of stagflation. But if you start to

1736
01:24:18,120 --> 01:24:20,880
Speaker 9: see high unemployment as well, that becomes a significant problem.

1737
01:24:20,960 --> 01:24:23,320
Speaker 9: And that's what we like largely saw on the Jimmy

1738
01:24:23,320 --> 01:24:25,880
Speaker 9: Carter years and in the early Ronald Regan years. Now

1739
01:24:26,240 --> 01:24:29,920
Speaker 9: we just talked about the labor numbers. Unemployment is not

1740
01:24:30,080 --> 01:24:32,320
Speaker 9: high and it's not a threat to be high. So

1741
01:24:32,360 --> 01:24:35,040
Speaker 9: I don't think it's realistic at this point to worry

1742
01:24:35,080 --> 01:24:36,000
Speaker 9: about stagflation.

1743
01:24:37,000 --> 01:24:38,519
Speaker 4: But I'm sure the feed has their eye on it.

1744
01:24:38,520 --> 01:24:40,000
Speaker 9: But right now it's not a big threat.

1745
01:24:40,080 --> 01:24:42,800
Speaker 2: Okay, So we're told tariffs add maybe a half point

1746
01:24:42,800 --> 01:24:45,000
Speaker 2: to inflation when I triggering a recession. But now we've

1747
01:24:45,000 --> 01:24:47,519
Speaker 2: got oil prices we mentioned on top of the existing tariffs,

1748
01:24:47,760 --> 01:24:50,360
Speaker 2: are with that combined, are we getting to a tipping

1749
01:24:50,360 --> 01:24:52,400
Speaker 2: point a little bit closer because of those two things

1750
01:24:52,400 --> 01:24:53,160
Speaker 2: and that leverage?

1751
01:24:54,640 --> 01:24:57,000
Speaker 9: Certainly, And I think there is a timeframe on this,

1752
01:24:57,080 --> 01:24:59,320
Speaker 9: and I think the Trump administration is very aware of it,

1753
01:24:59,360 --> 01:25:01,920
Speaker 9: and I think that's why they've been ramping up a

1754
01:25:01,960 --> 01:25:04,160
Speaker 9: lot of the strikes that we've had over the last

1755
01:25:04,320 --> 01:25:07,719
Speaker 9: week or so. You know, they are threatening to target

1756
01:25:08,160 --> 01:25:11,639
Speaker 9: the energy infrastructure of Iran, and the leaders over there

1757
01:25:11,720 --> 01:25:14,240
Speaker 9: right now certainly don't want that to happen because that

1758
01:25:14,240 --> 01:25:18,439
Speaker 9: can cripple their economy overall. And so I think the

1759
01:25:18,520 --> 01:25:21,479
Speaker 9: fact that we have dominated the airspace over there. We're

1760
01:25:21,520 --> 01:25:25,640
Speaker 9: even sent in Apache helicopters and some A ten warthogs,

1761
01:25:25,640 --> 01:25:28,799
Speaker 9: which usually is a signal that things are pretty secure

1762
01:25:28,880 --> 01:25:32,559
Speaker 9: from an air superiority standpoint. To really protect what has

1763
01:25:32,600 --> 01:25:35,360
Speaker 9: already been dominated that does signal that we are in

1764
01:25:35,400 --> 01:25:37,760
Speaker 9: position to really do what we want over there. And

1765
01:25:38,000 --> 01:25:41,519
Speaker 9: I do think that gives a Trump administration leverage and

1766
01:25:41,520 --> 01:25:44,559
Speaker 9: and you know, will allow the Iranians to come to

1767
01:25:44,600 --> 01:25:46,400
Speaker 9: the table. And I think that's largely what we saw

1768
01:25:47,439 --> 01:25:49,479
Speaker 9: Sunday night and into Monday, and that's why the market's

1769
01:25:49,560 --> 01:25:50,959
Speaker 9: ran so very well yesterday.

1770
01:25:51,000 --> 01:25:53,880
Speaker 2: Gotcha, Andy Shaeffer, you mentioned at the onset here the

1771
01:25:53,880 --> 01:25:57,960
Speaker 2: good news the Fed left the interest rates unchanged simply

1772
01:25:57,960 --> 01:26:00,000
Speaker 2: because they're they're they're in their target range and they're

1773
01:26:00,120 --> 01:26:03,080
Speaker 2: comfortable keep it on hold until we get inflation. And

1774
01:26:03,120 --> 01:26:05,200
Speaker 2: the other thing there is labor market trends. We're not

1775
01:26:05,280 --> 01:26:08,120
Speaker 2: quite sure because the government shutdowns are not getting data

1776
01:26:08,240 --> 01:26:09,519
Speaker 2: and that's really the problem.

1777
01:26:10,040 --> 01:26:11,719
Speaker 9: Yeah, and I think, you know, the Fitty even talked

1778
01:26:11,720 --> 01:26:15,160
Speaker 9: about the impact of AI on the labor market as well.

1779
01:26:15,840 --> 01:26:16,000
Speaker 6: You know.

1780
01:26:16,080 --> 01:26:19,479
Speaker 9: Overall, I think the practical takeaway here is that there

1781
01:26:19,600 --> 01:26:22,599
Speaker 9: is a plan in the Middle East, and they also

1782
01:26:22,600 --> 01:26:25,960
Speaker 9: the FED also has a plan to potentially raise rates

1783
01:26:26,040 --> 01:26:28,439
Speaker 9: slightly higher. There are some economists that think it might

1784
01:26:28,479 --> 01:26:31,320
Speaker 9: be necessary, they're not there yet. I think there were

1785
01:26:31,320 --> 01:26:33,639
Speaker 9: only two members that thought that might be a good idea,

1786
01:26:34,040 --> 01:26:36,479
Speaker 9: but there is some margin pressure due to higher energy

1787
01:26:36,479 --> 01:26:40,479
Speaker 9: costs and so the market volatility. You know, investors are

1788
01:26:40,479 --> 01:26:43,120
Speaker 9: looking at as the FED tries to reprice all of

1789
01:26:43,120 --> 01:26:45,639
Speaker 9: this based on what's going on over there. But as

1790
01:26:45,680 --> 01:26:49,479
Speaker 9: always FED chairman pals, you know, Fed Committee, they are

1791
01:26:49,520 --> 01:26:52,080
Speaker 9: taking in a conscious approach. I think as long as

1792
01:26:52,120 --> 01:26:54,080
Speaker 9: we get everything wrapped up in Iran and come to

1793
01:26:54,120 --> 01:26:55,960
Speaker 9: some sort of deal over the next couple of weeks,

1794
01:26:56,200 --> 01:26:57,920
Speaker 9: it's going to be back to business as usual. I

1795
01:26:57,920 --> 01:26:59,800
Speaker 9: think the markets will run and I do think that

1796
01:26:59,840 --> 01:27:01,800
Speaker 9: the AS will likely cut rates, probably in.

1797
01:27:01,800 --> 01:27:04,719
Speaker 2: JAID, which is good news for home buyers home sellers.

1798
01:27:04,720 --> 01:27:06,479
Speaker 2: So let's get a little bit more juice going on here.

1799
01:27:06,520 --> 01:27:09,599
Speaker 2: That's that's wonderful. Despite all this negative news out there,

1800
01:27:09,800 --> 01:27:12,880
Speaker 2: the economy remains pretty steadfast. It takes a lot for

1801
01:27:12,960 --> 01:27:17,000
Speaker 2: the economy to spiral downward. And it may be, who knows, today,

1802
01:27:17,040 --> 01:27:20,040
Speaker 2: some God forbid, there might be some major groundshift that

1803
01:27:20,080 --> 01:27:22,639
Speaker 2: we don't see happening here, a major cataclysmic event, which

1804
01:27:22,640 --> 01:27:26,800
Speaker 2: is always a possibility, natural disaster, man made disaster, or

1805
01:27:26,840 --> 01:27:30,000
Speaker 2: otherwise that'll bring the economy to a screeching all. Think

1806
01:27:30,040 --> 01:27:32,800
Speaker 2: of COVID or nine to eleven, for example. We just

1807
01:27:32,800 --> 01:27:35,040
Speaker 2: don't know what that's going to be. But you know,

1808
01:27:35,080 --> 01:27:37,160
Speaker 2: you can't really set your watch by it. Those things happen.

1809
01:27:37,200 --> 01:27:38,599
Speaker 2: But right now, that's the only thing that can trip

1810
01:27:38,680 --> 01:27:39,639
Speaker 2: us up, is what you're saying.

1811
01:27:39,920 --> 01:27:42,719
Speaker 9: Yeah, And you have to remember furthermore that the markets

1812
01:27:42,800 --> 01:27:44,879
Speaker 9: one hundred percent of the time have met and exceeded

1813
01:27:44,880 --> 01:27:47,680
Speaker 9: their previous highs. We did go through COVID, well, the

1814
01:27:47,720 --> 01:27:51,599
Speaker 9: markets fell about fifty percent. We are significantly higher from

1815
01:27:51,840 --> 01:27:54,000
Speaker 9: a S and P five hundred standpoint than we were

1816
01:27:54,080 --> 01:27:57,680
Speaker 9: during COVID. When the tariffs were announced last April, the

1817
01:27:57,680 --> 01:28:01,280
Speaker 9: markets fell another thirty percent. So we're significantly higher than

1818
01:28:01,280 --> 01:28:03,160
Speaker 9: we were last April. And so if you have other

1819
01:28:03,200 --> 01:28:06,200
Speaker 9: strategies in place, like having some decent amount of cash

1820
01:28:06,240 --> 01:28:10,400
Speaker 9: reserves to be able to not participate in the volatility,

1821
01:28:10,720 --> 01:28:12,600
Speaker 9: then you're gonna be fine. You just have to be

1822
01:28:12,680 --> 01:28:15,800
Speaker 9: smart about understanding how the volatility works and have a

1823
01:28:15,840 --> 01:28:18,200
Speaker 9: clear head and have a little bit of poise, and

1824
01:28:18,280 --> 01:28:19,080
Speaker 9: you'll be just fine.

1825
01:28:19,160 --> 01:28:19,479
Speaker 4: All right.

1826
01:28:19,520 --> 01:28:21,920
Speaker 2: He's Andy Shaeffer at all Worth Financial and they have

1827
01:28:21,960 --> 01:28:24,080
Speaker 2: a show called Simply Money. It airs at six o'clock

1828
01:28:24,120 --> 01:28:27,760
Speaker 2: every weeknight on fifty five karc and for more go

1829
01:28:27,840 --> 01:28:30,800
Speaker 2: there but all Worth Financial and Andy checks in every

1830
01:28:30,800 --> 01:28:32,439
Speaker 2: Tuesday and let us know how things are going with

1831
01:28:32,479 --> 01:28:35,240
Speaker 2: your money. He's pretty steady, Eddie, Andy, all the best.

1832
01:28:35,360 --> 01:28:36,280
Speaker 2: Have a good one, buddy.

1833
01:28:36,439 --> 01:28:37,280
Speaker 4: All right, Scott talks.

1834
01:28:37,360 --> 01:28:40,360
Speaker 2: Appreciate jss he don't don't freak out, don't flip out.

1835
01:28:40,400 --> 01:28:42,760
Speaker 2: Don't lose your bleep, baby, don't lose your bleep. We

1836
01:28:42,800 --> 01:28:46,640
Speaker 2: are counting down to opening day, today being Tuesday. My

1837
01:28:46,760 --> 01:28:48,920
Speaker 2: bad math tells me that it's two days away. You

1838
01:28:48,960 --> 01:28:51,840
Speaker 2: got tomorrow and then Thursday. We're live the Holy Grail

1839
01:28:51,880 --> 01:28:55,680
Speaker 2: Banks to kick off the twenty twenty six highly anticipated

1840
01:28:55,720 --> 01:28:59,559
Speaker 2: campaign here on the home of the Red seven hundred WWT, Cincinnati,