WEBVTT - 3-24-26 Scott Sloan Show

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<v Speaker 1>Do you want to be an American?

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<v Speaker 2>Here we go sloany seven hundred WLW. We jump in

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<v Speaker 2>with this. President Trump says Iran wants a deal and

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<v Speaker 2>the war could end in days. But Iran says there

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<v Speaker 2>are no talks, no negotiations, as strait is closed. And

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<v Speaker 2>now we're having word that maybe there are some individuals

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<v Speaker 2>inside Iran that are talking to God only knows. We

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<v Speaker 2>don't have no idea who's telling the truth. And what

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<v Speaker 2>happens if this whole thing falls apart. We're now sending troops,

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<v Speaker 2>actual physical United States Marines and an expeditionary unit to

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<v Speaker 2>the Middle East. We're starting to get troops on the ground,

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<v Speaker 2>and certainly Democrats, but particularly a number of Republicans do

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<v Speaker 2>not want that to happen. And what happens if we

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<v Speaker 2>have to have ground trips? So we're going to go

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<v Speaker 2>in and get the nuclear arsenal, We're going to go

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<v Speaker 2>get the nukes out. That means boots on the ground.

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<v Speaker 2>What does that look like? How do we navigate this?

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<v Speaker 2>And every day this war goes on with no off ramp,

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<v Speaker 2>problematic for US and our economy. Joining the show is

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<v Speaker 2>doctor Markensel, former Director of International Studies and Human Rights

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<v Speaker 2>Studies program founder all at the University of Dayton. He's

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<v Speaker 2>our Middle Eastern Terrorism and the Leastern expert, doctor Mark.

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<v Speaker 2>Good morning, How are you, good morning?

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<v Speaker 3>How are you sing?

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<v Speaker 4>I'm doing well. Thanks.

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<v Speaker 2>So Trump postponed the strikes on the infrastructure for five days,

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<v Speaker 2>cooled off. We saw the economy rebound, the markets reacted

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<v Speaker 2>really really well. To that said, We've had conversations, but

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<v Speaker 2>there's about a lot of mixed messages in there saying, well,

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<v Speaker 2>we decimated everything. There's no one to talk to just

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<v Speaker 2>a couple days ago, because we killed everybody, and now

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<v Speaker 2>we're somehow negotiating with someone who didn't exist three days ago.

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<v Speaker 2>So Iran flatly denies any negotiations that are happening. Who's

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<v Speaker 2>telling the truth and why does it matter from a

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<v Speaker 2>strategic standpoint?

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<v Speaker 3>Oh my.

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<v Speaker 5>So there's an old adage, right that the first casualty

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<v Speaker 5>of war is the truth. Yes, and that seems to

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<v Speaker 5>apply to the commander in chief, President Trump.

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<v Speaker 3>We don't know what the truth is. You're right, we.

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<v Speaker 5>Obliterated their nuclear material, but they can get bomb in

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<v Speaker 5>two weeks.

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<v Speaker 3>That's why we attacked.

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<v Speaker 5>No, no, no, there's We'll only accept complete unconditional thrender.

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<v Speaker 5>We're having talks and they're going, well, we just don't

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<v Speaker 5>know what's going on now. I gotta tell you, Scott,

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<v Speaker 5>I've been one of those pessimists to believe that conflict

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<v Speaker 5>with the Islamic Republic Iran was was virtually inevitable given

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<v Speaker 5>that regime influence the Mid Eastern weapons. But having a

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<v Speaker 5>commander in chief who seems not to be sending clear

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<v Speaker 5>giving clear answers to the American people about what the

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<v Speaker 5>object of this war is is very.

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<v Speaker 3>Very very frightening.

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<v Speaker 2>Another of us have lived through the last time we

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<v Speaker 2>did this, in that we had there's mission creep, right,

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<v Speaker 2>we're going to uh, we're gonna go and we're going

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<v Speaker 2>to take out Saddam, Who's okay. Great, Well we did that,

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<v Speaker 2>and you know, we're in Afghanistan, we're in Iraq, we're

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<v Speaker 2>we're all over the place. And we lost a number

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<v Speaker 2>of well a lot of really good young people through

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<v Speaker 2>the war. But at the same time, we still really

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<v Speaker 2>know what the outstraats was. Okay, we toppled regime and

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<v Speaker 2>then what happened, I mean ultimately ended with Biden pulling

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<v Speaker 2>half acidly out of Afghanistan. And so what did we gain?

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<v Speaker 2>We broke trust again in the Middle East? Are we

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<v Speaker 2>set to do that all over again here?

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<v Speaker 5>It would appear so, I mean, the they the real

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<v Speaker 5>goal is to topple the regime. That's that's clearly Israel's desire.

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<v Speaker 5>The presidents has said it many times. But at the

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<v Speaker 5>same time, he promised as as a political candidate, not

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<v Speaker 5>to have these permanent wars, these regime change.

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<v Speaker 3>Wars, and that's exactly what we're doing.

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<v Speaker 5>So it's it's it's we don't know whether he's confused

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<v Speaker 5>or he's deceptive, but either way does not bode well

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<v Speaker 5>for the next phase. Now you mentioned the Marines are

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<v Speaker 5>on the en route. What they're talking about extracting new

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<v Speaker 5>clear material is going to take boots on the ground. Yeah,

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<v Speaker 5>you know, we're gonna go in it and it's gonna

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<v Speaker 5>be hot. We're gonna fight our way in and extract

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<v Speaker 5>that material which is deeply buried deeply unide the country

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<v Speaker 5>or who knows. We have a diplomatic off ramp in

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<v Speaker 5>the United Nations. The International Atomic Energy Commission goes in

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<v Speaker 5>and supervises the extraction that material.

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<v Speaker 2>Do you really trust the UN to do that? I

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<v Speaker 2>mean the un is pretty worthless in my opinion.

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<v Speaker 5>Youah, yeah, I'm with you, But it's gonna be someone

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<v Speaker 5>who's gonna have to supervise the extraction of this material.

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<v Speaker 1>Uh.

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<v Speaker 5>And you know you don't hear it's spoken of very much.

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<v Speaker 5>Is it possible? We're worried about the enrichment of the

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<v Speaker 5>the uranium and can they develop what weapons?

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<v Speaker 3>Sure, they can develop dirty bombs. They can put it

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<v Speaker 3>out of.

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<v Speaker 5>Low enriched material and fired in a ballistic missile, uh

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<v Speaker 5>to tell Aviv and essentially turn into a nuclear wasteland.

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<v Speaker 5>So the pre it has really opened up a courvial

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<v Speaker 5>cannib worms here.

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<v Speaker 4>And I think it's a lot was like me.

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<v Speaker 2>I mean, we grew up there and you as well

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<v Speaker 2>saw what the Iola did seventy nine. See what we

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<v Speaker 2>see the regime and how pre seventy nine it look

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<v Speaker 2>very western there. You know, women are going to university

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<v Speaker 2>and now today, of course it's a dystopian hellhole and

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<v Speaker 2>has been so for fifty years. No problem with decapitating

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<v Speaker 2>the regime and provided though that we can kind of

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<v Speaker 2>nudge them in the right direction. Now we're not good

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<v Speaker 2>at nation building for sure, but right now there's just

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<v Speaker 2>no clear picture coming out for I think the American

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<v Speaker 2>people to understand that Trump says Iran has agreed to

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<v Speaker 2>never have a nuclear weapon. But given their track record

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<v Speaker 2>the Obama deal, for example, the Republican Guard lying about

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<v Speaker 2>their missiles or missile range, why would anyone believe that,

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<v Speaker 2>let alone the un of the United States. And if so,

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<v Speaker 2>can't they just move there the fishing ball material somewhere else.

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<v Speaker 5>Yeah, those are all logistical questions, technical questions that are

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<v Speaker 5>difficult to answer. One thing's clear to me as a

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<v Speaker 5>political scientist, is very interested in the nature of the

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<v Speaker 5>regime that deocratic to telitarian state, is that you know,

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<v Speaker 5>Israel clearly wanted and Trump seems to have been convinced that,

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<v Speaker 5>you know, a blitz creed strike will topple that regime

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<v Speaker 5>and we'll get a democratic So we don't have to

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<v Speaker 5>put put you on the ground, we don't have to

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<v Speaker 5>do what we did with that entertaining and so we

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<v Speaker 5>can do it sort of magically. That's just a miss

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<v Speaker 5>this miscalculation. So we could find a diplomatic ard ramp

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<v Speaker 5>where we deal with the nuclear matil but leave in

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<v Speaker 5>place the regime. There's an incredible missile program the strikes

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<v Speaker 5>in Tel Aviv yesterday and today are really uptick in

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<v Speaker 5>the in the escalation of the violence. One Israeli UH

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<v Speaker 5>military commander said, what we got here with yesterday was

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<v Speaker 5>something entirely new. No think about this for a second.

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<v Speaker 5>They have been We've been bombing them for a month.

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<v Speaker 5>The most sophisticated air force in the worlds were bombing

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<v Speaker 5>them for a month, and they still have the ability

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<v Speaker 5>to fire rockets at US, you know, so gives you

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<v Speaker 5>a sense of what that regime would be and if

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<v Speaker 5>they continue to build this missile program for a decade,

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<v Speaker 5>another another few years.

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<v Speaker 3>So there's a need for conflict.

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<v Speaker 5>But you're right, we don't handle it well, and we

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<v Speaker 5>certainly don't handle it well when there's uh, there's there's not.

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<v Speaker 5>There's a lack of clarity in our strategic objective. We

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<v Speaker 5>just can't get that from the president. And if you're

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<v Speaker 5>an American citizen, particularly you're a president President supporter, Maggot supporter, Yeah,

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<v Speaker 5>who believed what he said about no new wars, no

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<v Speaker 5>regime changed wars, Stay stay at home, And suddenly you're

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<v Speaker 5>looking at gas prices. You feel this at a really

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<v Speaker 5>deep political level. You've been deceived. This is a very

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<v Speaker 5>terrible situation where.

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<v Speaker 4>They're market slag. Bizarre.

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<v Speaker 5>It is.

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<v Speaker 2>I'm starting to see the Trump did this. Bumpers are

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<v Speaker 2>stickers on gas pumps now, like like with like they

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<v Speaker 2>did with Biden and he was in charge. And it's

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<v Speaker 2>just it's a bizarre world in which.

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<v Speaker 4>We live right now.

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<v Speaker 2>What if it worked, if we just simply said it's

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<v Speaker 2>in a ray I think ran I think Israel does

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<v Speaker 2>this the time to time. It's like, okay, well, you

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<v Speaker 2>know what, we think you're getting too powerful, you're starting

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<v Speaker 2>to build missiles up, and you're we're going to take

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<v Speaker 2>you out. They launch a tactical strike and it's over.

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<v Speaker 2>They're not invading, they're not trying to regime change, but

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<v Speaker 2>they will as soon as it starts to bubble up

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<v Speaker 2>or it looks like their enemy has too much, they

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<v Speaker 2>go and they take it out. Should this have been

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<v Speaker 2>that they're just simply okay, well, unless you're gonna play

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<v Speaker 2>the game, we're gonna swat you back down. We're gonna

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<v Speaker 2>take your program back several years and we'll keep you

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<v Speaker 2>in check.

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<v Speaker 3>That way.

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<v Speaker 5>Would that have worked, who knows, But I mean it

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<v Speaker 5>really means will will be repeating this conflict every few years. Yeah,

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<v Speaker 5>to steem kind of what Israel's doing with Lebanon, with

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<v Speaker 5>in Lebanon. Yeah, right, with every few years we've forgotten

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<v Speaker 5>about We've gotten with the President's Board of Peace, with

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<v Speaker 5>mister Truman, we forgot about that entirely Middle East. It

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<v Speaker 5>becomes such a quagmire. Is that Vietnam term? So yeah,

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<v Speaker 5>it requurs clarity and thoughts to about our strategic objectives

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<v Speaker 5>and what is realistically possible. But we're not hearing that.

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<v Speaker 5>We're hearing the president saying one thing one day, one thing,

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<v Speaker 5>another thing the same day, and you can tell he's

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<v Speaker 5>doing it for political reasons. Clearly he said we're at

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<v Speaker 5>these constructive talks. I'm not a betting fellow, but I

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<v Speaker 5>would bet on this that was clearly intended to influence

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<v Speaker 5>the markets and the gas prices.

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<v Speaker 3>So apparently false.

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<v Speaker 5>It does not raise confidence in the administration and the president.

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<v Speaker 2>Yeah, so what we say, Okay, just a few days ago,

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<v Speaker 2>we wiped everything out, there's no one to talk to,

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<v Speaker 2>and then hours later it's like, well, we're negotiating and

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<v Speaker 2>we're talking to this the most respected Iranian official, I

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<v Speaker 2>guess wit Coffin Jerk Kushner are talking to this individual?

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<v Speaker 4>Is that really a person? Who would this be?

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<v Speaker 5>You reminds me of Back to Iron, Remember Ron Condra

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<v Speaker 5>Oliver North. Remember they flew over They had some secret

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<v Speaker 5>meeting with the moderate, the Islamic moderates of the regime,

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<v Speaker 5>and it was a complete falsehood or challaby in a rock.

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<v Speaker 5>He had insights into what's actually inside of a rock.

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<v Speaker 5>Trust him. So they may be talking to someone, they're

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<v Speaker 5>clearly not talking to someone who's in the senior leadership

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<v Speaker 5>of a deeply entrenched utilitarian state. So they're talking to somebody,

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<v Speaker 5>but the person they're talking to can't can't speak for

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<v Speaker 5>the regime.

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<v Speaker 4>Yeah, he is.

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<v Speaker 2>Doctor Mark Anseilaco from the University of Daton on the

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<v Speaker 2>show this morning, seven hundred ww R Resident Middle Eastern

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<v Speaker 2>Expert and terrorism expert on the show and contemplating with

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<v Speaker 2>the move is here?

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<v Speaker 4>What the play is here? With Trump?

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<v Speaker 2>And you know, he's really good at pivoting and saying

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<v Speaker 2>what's on his mind, but it seems like he's making

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<v Speaker 2>this up from one second to the next. And even

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<v Speaker 2>if you're mad, I think you agree. Is like, just

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<v Speaker 2>tell us what's going on with the plan? Is there

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<v Speaker 2>a plan here, And with each passing day it feels

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<v Speaker 2>less and less like there's a plan, but more and

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<v Speaker 2>more like we're going to be involved in something. It's

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<v Speaker 2>a drag on for a long time, we hope not.

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<v Speaker 2>And we're trying to find an off ramp here. And

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<v Speaker 2>you wonder what the Trump administration inside the White House

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<v Speaker 2>is trying to figure on the same what the play is.

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<v Speaker 2>Right now, you've got people saying, well, this is Vietnam

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<v Speaker 2>and Tet Offensive all over again. You know, thirty years ago,

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<v Speaker 2>I couldn't tell you what the Tet Offensive was. But

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<v Speaker 2>when you're older and you watch a lot of doctor

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<v Speaker 2>Menors and War, as my wife calls it, you learned

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<v Speaker 2>that the Tet Offensive was during the Vietnam conflict, in

0:11:29.320 --> 0:11:31.280
<v Speaker 2>which in the Tet the holiday their New Year's they

0:11:31.320 --> 0:11:36.280
<v Speaker 2>launched the North Vietnamese launched huge attacks on US installations

0:11:36.320 --> 0:11:39.400
<v Speaker 2>throughout Vietnam, and people go, my guy, who was a

0:11:39.440 --> 0:11:41.280
<v Speaker 2>turning port in the war, we got hand. No, we

0:11:41.360 --> 0:11:43.880
<v Speaker 2>actually turned them back and beat the hell out of

0:11:43.920 --> 0:11:47.760
<v Speaker 2>the Vietnamese in that. But it's a situation where and

0:11:47.800 --> 0:11:51.520
<v Speaker 2>again everything repeats itself. Historically, we won militarily, but we

0:11:51.600 --> 0:11:54.440
<v Speaker 2>lost politically. Is that a similar parallel here.

0:11:57.400 --> 0:11:59.839
<v Speaker 5>Let me take a different angle at that the Vietnam thing.

0:12:01.480 --> 0:12:05.000
<v Speaker 5>You know, when the United States simply declared victory and left,

0:12:05.800 --> 0:12:09.600
<v Speaker 5>and we left ourselves at decent interval before when we left,

0:12:09.679 --> 0:12:11.400
<v Speaker 5>before the North Threet and these took over. It was

0:12:11.440 --> 0:12:14.440
<v Speaker 5>the two years that seems to be the president. Remember,

0:12:15.160 --> 0:12:18.680
<v Speaker 5>the President has said he's the one who will decide

0:12:18.800 --> 0:12:21.720
<v Speaker 5>when they've capitulated, when they've given.

0:12:21.520 --> 0:12:24.160
<v Speaker 4>A gut feeling, right, the gut feeling.

0:12:24.000 --> 0:12:26.920
<v Speaker 3>So he'll just say, like we won, we're leaving, okay.

0:12:27.160 --> 0:12:30.360
<v Speaker 5>And it meantime, by the way, the damage to the

0:12:30.400 --> 0:12:33.920
<v Speaker 5>infrastructure in the Persian Gulf and the Gulf of all Na, right,

0:12:34.080 --> 0:12:37.680
<v Speaker 5>all the all the everything that's been struck by in

0:12:37.720 --> 0:12:41.440
<v Speaker 5>the in the petroleum industry, everything's been struck by both

0:12:41.480 --> 0:12:45.440
<v Speaker 5>sides in this has really damaged oil production that has

0:12:45.480 --> 0:12:48.679
<v Speaker 5>affected multiple countries in the in the Golf and affected

0:12:48.679 --> 0:12:52.120
<v Speaker 5>the global economy. So for the president to say, we

0:12:52.200 --> 0:12:56.120
<v Speaker 5>launched this war for this reason, I'm going to declare victory.

0:12:56.160 --> 0:12:57.120
<v Speaker 3>Even though we didn't achieve.

0:12:57.160 --> 0:13:01.719
<v Speaker 5>The subjectives still left behind, uh a tremendous amount of

0:13:01.800 --> 0:13:04.280
<v Speaker 5>damage that will affect their economy for some time.

0:13:04.559 --> 0:13:06.599
<v Speaker 3>So, I mean good, I was a view that a

0:13:06.720 --> 0:13:07.280
<v Speaker 3>war was good.

0:13:07.679 --> 0:13:11.120
<v Speaker 5>I'm going to come with with Iran given the nature

0:13:11.160 --> 0:13:14.800
<v Speaker 5>industry team and their militarization. But the president of the

0:13:14.840 --> 0:13:20.400
<v Speaker 5>United States does not inspire confidence. Does not inspire confidence,

0:13:20.480 --> 0:13:21.200
<v Speaker 5>is all I can put in.

0:13:22.120 --> 0:13:24.840
<v Speaker 2>I sense that. And now the report out this morning.

0:13:24.880 --> 0:13:27.480
<v Speaker 2>The breaking element here is there may be negotiations with

0:13:27.520 --> 0:13:31.240
<v Speaker 2>the US and around held in Pakistan. We're continuing striking

0:13:31.320 --> 0:13:33.599
<v Speaker 2>military targets as well. We've kind of laid off the

0:13:33.600 --> 0:13:36.439
<v Speaker 2>straight of our moves to say, okay, well, let's maybe

0:13:36.440 --> 0:13:38.760
<v Speaker 2>have some negotiations here, but we'll see if this is

0:13:38.760 --> 0:13:41.880
<v Speaker 2>indeed true, if it plays out in the meantime. Of course,

0:13:42.320 --> 0:13:44.240
<v Speaker 2>we have all sorts of juice on our side. I mean,

0:13:44.360 --> 0:13:45.720
<v Speaker 2>you look at it, with all the stuff we've been

0:13:45.720 --> 0:13:48.640
<v Speaker 2>talking about, Mark Zelaco, you know, maybe for the first

0:13:48.640 --> 0:13:50.480
<v Speaker 2>time in a long time, we have the bulk of

0:13:50.640 --> 0:13:52.760
<v Speaker 2>not all of the Middle East going, hey, we got

0:13:52.800 --> 0:13:55.439
<v Speaker 2>to do something about Iran. Because they're launching missiles of

0:13:55.480 --> 0:13:58.800
<v Speaker 2>Tel Aviv, which is nothing new, but Oman Dubai is

0:13:58.840 --> 0:14:02.640
<v Speaker 2>under attack. It's everyone around them in the region wants

0:14:02.640 --> 0:14:06.400
<v Speaker 2>this regime gone. This should be a lot easier than

0:14:06.640 --> 0:14:07.480
<v Speaker 2>what we're talking about.

0:14:07.480 --> 0:14:08.000
<v Speaker 4>Your shouldn't it.

0:14:09.200 --> 0:14:12.880
<v Speaker 5>Yeah, what's happened since October twenty seventh when when Hamas

0:14:12.880 --> 0:14:16.320
<v Speaker 5>attacked Israel. What's happened the destruction of Hamas and the

0:14:16.360 --> 0:14:21.960
<v Speaker 5>serious debilitation of Hamas. Now his Bolah, the Jutis Siri

0:14:22.080 --> 0:14:25.040
<v Speaker 5>has fallen, you know. So there's been there's been major

0:14:26.440 --> 0:14:30.840
<v Speaker 5>geopolitical transformation in the Middle East. Uh, and the future

0:14:30.880 --> 0:14:33.560
<v Speaker 5>is there to whole. I mean like in Lebanon for example,

0:14:33.640 --> 0:14:37.000
<v Speaker 5>right now Israel bringing h the force of the bear

0:14:37.040 --> 0:14:42.760
<v Speaker 5>on his Bela people, Shia who are you know, linked

0:14:42.800 --> 0:14:46.400
<v Speaker 5>to his Belah are turning against it because yet again

0:14:46.640 --> 0:14:50.960
<v Speaker 5>these fanatics have exposed us to another Israeli war. This

0:14:51.040 --> 0:14:57.479
<v Speaker 5>happened Hamas now with his Belah in Lebanon. So there's

0:14:57.760 --> 0:15:00.280
<v Speaker 5>a transformation in Middle East. But it's this small, it's

0:15:00.320 --> 0:15:03.120
<v Speaker 5>got to clear, it's still it's still burunning. But yeah,

0:15:03.480 --> 0:15:06.840
<v Speaker 5>the global community now with all these brackets from far

0:15:07.000 --> 0:15:12.800
<v Speaker 5>from around hitting other Gulf states. Yes, he has woken

0:15:12.920 --> 0:15:15.640
<v Speaker 5>them to the threat. They they've actually known about the

0:15:15.680 --> 0:15:17.760
<v Speaker 5>thread for a very long time. We've always been fearful

0:15:18.200 --> 0:15:23.320
<v Speaker 5>of Shia aggressive iron and yeah, so there's there's really

0:15:23.640 --> 0:15:26.360
<v Speaker 5>a world war, a regional war going on right now,

0:15:26.640 --> 0:15:28.600
<v Speaker 5>and we're deb in the middle of it.

0:15:28.800 --> 0:15:30.200
<v Speaker 4>Yeah, I want to think that.

0:15:30.720 --> 0:15:33.280
<v Speaker 2>You know, there are back channels, and what happened was

0:15:33.320 --> 0:15:35.400
<v Speaker 2>we're able to sit down and we're gonna negotiate with

0:15:35.440 --> 0:15:37.680
<v Speaker 2>someone and around because you know, clearly look at the

0:15:37.680 --> 0:15:40.120
<v Speaker 2>regime right now, and they lost not just the head

0:15:40.160 --> 0:15:42.480
<v Speaker 2>of the beast, but pretty much the middle and part

0:15:42.520 --> 0:15:44.200
<v Speaker 2>of the tail right now, and they're struggling. And we

0:15:44.240 --> 0:15:46.840
<v Speaker 2>still have no word if the newly installed Ayatola is

0:15:46.880 --> 0:15:49.000
<v Speaker 2>even alive at this point because no one seen the guy.

0:15:49.600 --> 0:15:52.720
<v Speaker 2>We have someonetile rise to power for sure. Uh, but

0:15:53.400 --> 0:15:55.240
<v Speaker 2>I'm sure they want an end of this thing as well.

0:15:55.280 --> 0:15:58.440
<v Speaker 2>Can will There's be some capitulation here. I don't know

0:15:58.480 --> 0:16:01.080
<v Speaker 2>if it'll be like Trump said, Hey, listen, we'll decide

0:16:01.080 --> 0:16:03.840
<v Speaker 2>who goes into who's going to be in power in Iran,

0:16:04.800 --> 0:16:07.280
<v Speaker 2>and we'll work together. I don't see that happening, but

0:16:07.760 --> 0:16:09.440
<v Speaker 2>I'm clearly Iran wants it in this thing.

0:16:11.880 --> 0:16:14.320
<v Speaker 5>Who knows what Iran wants? And you're absolutely right, we

0:16:14.400 --> 0:16:16.480
<v Speaker 5>do not know who we're speaking to. We do not know,

0:16:16.640 --> 0:16:19.200
<v Speaker 5>you know, we could be speaking to someone who's an eatola,

0:16:19.280 --> 0:16:21.600
<v Speaker 5>but they can't. If they didn't make promises, they can't

0:16:21.600 --> 0:16:21.920
<v Speaker 5>deliver it.

0:16:21.960 --> 0:16:22.880
<v Speaker 4>That Yeah, that's true.

0:16:22.960 --> 0:16:24.640
<v Speaker 3>So we simply don't know.

0:16:24.880 --> 0:16:28.440
<v Speaker 5>Now, Israel's got a greater visibility into Iran. I mean,

0:16:28.600 --> 0:16:32.000
<v Speaker 5>they have penetrated Iron for quite some time, you know.

0:16:32.200 --> 0:16:35.960
<v Speaker 5>That's why the decapitation's rights were so simple, and because

0:16:35.960 --> 0:16:39.200
<v Speaker 5>they've been they penetrated for for decades. But we don't

0:16:39.240 --> 0:16:40.800
<v Speaker 5>have that, We don't have that visibility.

0:16:41.200 --> 0:16:43.200
<v Speaker 3>We don't have it. And we talked about this in

0:16:43.320 --> 0:16:44.800
<v Speaker 3>the program last time I was on.

0:16:45.840 --> 0:16:48.160
<v Speaker 5>I don't trust the intelligence community right now, given the

0:16:48.240 --> 0:16:49.560
<v Speaker 5>quality of their leadership either.

0:16:49.680 --> 0:16:51.520
<v Speaker 3>So we're in it.

0:16:51.600 --> 0:16:54.320
<v Speaker 5>We're in a global crisis right now, and we have

0:16:54.440 --> 0:16:57.480
<v Speaker 5>serious concerns about our ability to manage our way through it.

0:16:57.560 --> 0:16:59.840
<v Speaker 2>Yeah, we're not losing sleep over over bombing the hell

0:16:59.880 --> 0:17:02.560
<v Speaker 2>of a ran long time overdue. But what does an

0:17:02.600 --> 0:17:05.560
<v Speaker 2>accept American win look like here? And is it achievable?

0:17:05.560 --> 0:17:07.720
<v Speaker 2>That's the big question. What's the off ramp? Doctor Mark

0:17:07.760 --> 0:17:10.800
<v Speaker 2>and Sulaco at the University up Dton. As always, thanks

0:17:10.800 --> 0:17:14.240
<v Speaker 2>to the inside, appreciate it, Thank you, take care. We've

0:17:14.240 --> 0:17:16.239
<v Speaker 2>got a news update here happening in just minutes as

0:17:16.240 --> 0:17:18.399
<v Speaker 2>we count down to opening Day twenty twenty six on

0:17:18.440 --> 0:17:22.439
<v Speaker 2>seven hundred WLW protein soda. There you go, There you go,

0:17:22.480 --> 0:17:25.240
<v Speaker 2>Sloani here, seven hundred WW. Thanks for joining the show

0:17:25.280 --> 0:17:31.080
<v Speaker 2>this morning. I love the criticism. Talk badly about Trump.

0:17:31.160 --> 0:17:33.919
<v Speaker 2>You get killed by the AMaGA crowd. And if you go, hi, man,

0:17:33.960 --> 0:17:35.679
<v Speaker 2>you know this is something Trump did. It's really good.

0:17:35.760 --> 0:17:38.280
<v Speaker 2>You get killed by the progressive crowd. So that means

0:17:38.320 --> 0:17:39.760
<v Speaker 2>I'm doing what I do here, and that is I

0:17:39.880 --> 0:17:42.120
<v Speaker 2>make my own mind up based on what's happening at

0:17:42.119 --> 0:17:46.520
<v Speaker 2>that exact moment in time. And if you subscribe to

0:17:46.560 --> 0:17:49.359
<v Speaker 2>the political kool aid, and let me back up a second,

0:17:49.560 --> 0:17:51.840
<v Speaker 2>how about some good news? You know, generally news and

0:17:51.880 --> 0:17:54.520
<v Speaker 2>talk great, it's all negative. The world's ending, it's crime,

0:17:54.560 --> 0:17:56.400
<v Speaker 2>it's all my god, we're gonna get This is why

0:17:56.440 --> 0:17:57.919
<v Speaker 2>you got to buy gold and you got to buy

0:17:57.920 --> 0:18:00.760
<v Speaker 2>an emergency medical kid, and you need a raider and

0:18:00.920 --> 0:18:04.879
<v Speaker 2>more gold and how bad are things right now? Some

0:18:05.000 --> 0:18:08.080
<v Speaker 2>perspective for you. And I thought of this because I

0:18:08.400 --> 0:18:10.320
<v Speaker 2>keep hearing and we play them here. But the Thomas

0:18:10.320 --> 0:18:15.119
<v Speaker 2>Massey is I love Thomas Massey as a libertarian leaning person.

0:18:16.440 --> 0:18:19.640
<v Speaker 2>I think he's refreshing we should you know, you should

0:18:19.720 --> 0:18:22.520
<v Speaker 2>call the the other side should be held accountable. Okay,

0:18:23.080 --> 0:18:24.840
<v Speaker 2>but I think it says a lot more if you

0:18:24.840 --> 0:18:28.320
<v Speaker 2>can hold your own side accountable, which he does. However,

0:18:28.440 --> 0:18:31.040
<v Speaker 2>these ads he's running against Ed gall Ryan, and Ed's

0:18:31.040 --> 0:18:34.359
<v Speaker 2>been on the show many times, a great guy. The

0:18:34.400 --> 0:18:36.600
<v Speaker 2>tagline and it is not just a Trump hater a

0:18:36.600 --> 0:18:41.879
<v Speaker 2>Trump trader. Now, I just wonder who that's targeted to.

0:18:42.160 --> 0:18:46.359
<v Speaker 2>Not you, I don't think, or me, because waitn hold on,

0:18:46.520 --> 0:18:48.880
<v Speaker 2>let me christ my. So Trump is endorsing a guy

0:18:49.400 --> 0:18:53.359
<v Speaker 2>that hates him? How does that even How does that

0:18:53.400 --> 0:18:56.560
<v Speaker 2>even make sense? Except in the world of politics. If

0:18:56.600 --> 0:19:00.000
<v Speaker 2>you're so into the political identity that you're a whole

0:19:00.119 --> 0:19:02.880
<v Speaker 2>identity is whether you're a Trump supporter or Trump hater,

0:19:04.000 --> 0:19:07.080
<v Speaker 2>I kind of feel bad for you. Why would he

0:19:07.200 --> 0:19:11.000
<v Speaker 2>endorse then? Why would Trump endorse a guy who hates

0:19:11.040 --> 0:19:15.239
<v Speaker 2>him or is a trader? To maga, it just it

0:19:15.240 --> 0:19:18.440
<v Speaker 2>doesn't make any sense. But it's politics. It's not supposed

0:19:18.480 --> 0:19:20.320
<v Speaker 2>to make any sense. You have the people who tell

0:19:20.320 --> 0:19:22.359
<v Speaker 2>you politics is the most important thing in the world

0:19:24.800 --> 0:19:26.840
<v Speaker 2>really believe this kind of stuff. What makes you think, like,

0:19:27.359 --> 0:19:29.920
<v Speaker 2>am I normal? Or are they abnormal? I think he

0:19:30.040 --> 0:19:33.760
<v Speaker 2>got that right, you're normal. But I mentioned how we

0:19:34.040 --> 0:19:36.199
<v Speaker 2>got to pump the brakes on this whole thing in granted,

0:19:36.240 --> 0:19:39.120
<v Speaker 2>Iran is illustrative of where we are with Donald Trump

0:19:39.160 --> 0:19:41.480
<v Speaker 2>right now. I was like, from one minute to the next,

0:19:41.480 --> 0:19:44.159
<v Speaker 2>it's a different story. We wipe them completely out, they

0:19:44.200 --> 0:19:45.600
<v Speaker 2>have no nukes left, but we got to go get

0:19:45.600 --> 0:19:48.040
<v Speaker 2>the nukes. You know, We're going to do this all

0:19:48.080 --> 0:19:50.159
<v Speaker 2>from a tactical position, and we're going to strike them

0:19:50.240 --> 0:19:52.199
<v Speaker 2>until they scream uncle. And we're going to put our

0:19:52.240 --> 0:19:53.960
<v Speaker 2>own people in there and they're going to go with it.

0:19:54.040 --> 0:19:56.760
<v Speaker 2>And that's not happening. And also, no boots on the

0:19:56.800 --> 0:20:00.120
<v Speaker 2>ground except for all the Marines we're sending there. Okay,

0:20:00.600 --> 0:20:04.480
<v Speaker 2>that only maybe makes sense and true social but the

0:20:04.520 --> 0:20:06.600
<v Speaker 2>reality is this. I mean, you think the sky is

0:20:06.640 --> 0:20:10.199
<v Speaker 2>falling for you, it probably is because we live in

0:20:10.240 --> 0:20:13.840
<v Speaker 2>a it's like a vibe pression, right, Vibe depression will

0:20:13.840 --> 0:20:19.399
<v Speaker 2>call this trademark, like consumer sentiment has. Right now, consumer

0:20:19.440 --> 0:20:21.880
<v Speaker 2>sentiment is below where we were in the financial crisis

0:20:21.920 --> 0:20:23.960
<v Speaker 2>of two thousand and eight, below where we were in

0:20:24.000 --> 0:20:27.920
<v Speaker 2>the pandemic of twenty twenty. Despite if you look at

0:20:27.920 --> 0:20:32.520
<v Speaker 2>the numbers, they're pretty good The biggest driver to where

0:20:32.560 --> 0:20:34.560
<v Speaker 2>you think the economy is great or it's awful is

0:20:34.960 --> 0:20:38.600
<v Speaker 2>party affiliation. Economic perception now tracks who's in the White

0:20:38.640 --> 0:20:41.600
<v Speaker 2>House more than actually what's in your paycheck. And obviously

0:20:41.640 --> 0:20:44.520
<v Speaker 2>Democrats are more negative on the economy now than Republicans

0:20:44.520 --> 0:20:46.680
<v Speaker 2>were under Biden, which proves the point.

0:20:49.200 --> 0:20:50.440
<v Speaker 4>And so it gets back to that.

0:20:50.720 --> 0:20:54.120
<v Speaker 2>Thomas masseyad both sides have done complete one to eighty

0:20:54.119 --> 0:20:56.280
<v Speaker 2>and the economy hasn't moved. Trump called Biden's economy in

0:20:56.359 --> 0:20:59.960
<v Speaker 2>nightmares a candidate and now says America's economy is bigger, better,

0:21:00.040 --> 0:21:02.520
<v Speaker 2>and rich are stronger than ever. Democrats went from Harris

0:21:02.520 --> 0:21:04.639
<v Speaker 2>bragging it was the strongest commomy in the world, just

0:21:04.640 --> 0:21:06.560
<v Speaker 2>screaming affordability crisis.

0:21:07.000 --> 0:21:07.560
<v Speaker 4>Well, guess what.

0:21:07.920 --> 0:21:11.600
<v Speaker 2>Let's look at the actual numbers. They're almost identical year

0:21:11.920 --> 0:21:16.359
<v Speaker 2>over year across every major metric. Almost all major metrics,

0:21:17.320 --> 0:21:22.840
<v Speaker 2>so GDP growth, unemployment, inflation, real wages, mortgage rates, the

0:21:22.880 --> 0:21:27.480
<v Speaker 2>budget deficit, all were in the measurement era of twenty

0:21:27.480 --> 0:21:30.240
<v Speaker 2>twenty four. Levels real purchasing power wages grew one point

0:21:30.280 --> 0:21:35.280
<v Speaker 2>four percent. It grew one point to under Biden. Tariffs

0:21:35.320 --> 0:21:39.760
<v Speaker 2>read roughly added a half point to inflation, painful, but

0:21:39.840 --> 0:21:45.280
<v Speaker 2>nowhere near the economic armageddon that democrats predicted. On either

0:21:45.359 --> 0:21:48.960
<v Speaker 2>side about ninety percent years, economy has a little involvement

0:21:48.960 --> 0:21:53.400
<v Speaker 2>in trade. Most Americans didn't meaningfully change their behavior over tariffs.

0:21:54.160 --> 0:21:56.880
<v Speaker 2>Gas will do that, for sure, but tariff's not so much.

0:21:56.920 --> 0:21:58.840
<v Speaker 2>And Gretin, who hell wants to pay more when you

0:21:58.840 --> 0:22:02.760
<v Speaker 2>promise everything would be cheaper. AI has been a disruptor,

0:22:02.760 --> 0:22:05.080
<v Speaker 2>but it hasn't moved the macro needle despite all the hype.

0:22:06.280 --> 0:22:09.120
<v Speaker 2>And yeah, the war is hurting us consumers, but markets

0:22:09.320 --> 0:22:12.120
<v Speaker 2>expect us to be temporary. This is not nineteen seventy nine.

0:22:12.160 --> 0:22:13.960
<v Speaker 2>We'll talk about that later in the show with Andy

0:22:13.960 --> 0:22:17.080
<v Speaker 2>Shaeffer at eleven thirty five with all Worth first perspective

0:22:17.119 --> 0:22:19.840
<v Speaker 2>on this one. But why is consumer cent it done?

0:22:19.920 --> 0:22:23.159
<v Speaker 2>Because you know, if you think it's bad, it's bad.

0:22:23.920 --> 0:22:26.000
<v Speaker 2>You know your wallet didn't change when the rieter changed,

0:22:26.040 --> 0:22:29.000
<v Speaker 2>but your moon might have. And the economy is it's

0:22:29.040 --> 0:22:32.119
<v Speaker 2>an ocean liner, it's not a it's not a speedboat.

0:22:33.359 --> 0:22:35.840
<v Speaker 2>And presidents take a lot of credit and dis themselves

0:22:35.960 --> 0:22:38.760
<v Speaker 2>all the time from the bad, but presidents move it

0:22:38.880 --> 0:22:41.480
<v Speaker 2>far far less. And either side wants you to believe,

0:22:42.480 --> 0:22:44.520
<v Speaker 2>and that is true whether it's a Democrat or Republican,

0:22:44.760 --> 0:22:46.440
<v Speaker 2>And we'll take all the credit when things are going

0:22:46.440 --> 0:22:48.240
<v Speaker 2>well and it's the other guy's fault when it's not,

0:22:49.040 --> 0:22:51.040
<v Speaker 2>Like how much longer can you keep lemming Biden for

0:22:51.080 --> 0:22:52.960
<v Speaker 2>stuff after your office for a year?

0:22:54.320 --> 0:22:54.600
<v Speaker 6>Okay?

0:22:54.640 --> 0:22:56.280
<v Speaker 2>At some point it's like, all right, yeah, we'll give

0:22:56.320 --> 0:22:58.399
<v Speaker 2>you like the first six eight months, but after that,

0:22:58.440 --> 0:23:00.960
<v Speaker 2>when you're a year in, you to own that economy.

0:23:01.760 --> 0:23:04.760
<v Speaker 2>And I think it's fair and reasonable to hold to

0:23:04.960 --> 0:23:07.080
<v Speaker 2>the standards on which you promise, which you ran on,

0:23:07.080 --> 0:23:10.840
<v Speaker 2>whether it's Biden or whether it's Trump. But again, the

0:23:10.840 --> 0:23:13.480
<v Speaker 2>problem is politics. The politics is clouding a lot of

0:23:13.480 --> 0:23:16.640
<v Speaker 2>people's judgment in this thing that you look at and go, wow,

0:23:16.640 --> 0:23:20.119
<v Speaker 2>it's you know, if Biden, if Kamala Harrison won and

0:23:20.200 --> 0:23:21.679
<v Speaker 2>let's say, hey, you know, we're going to raise everyone's

0:23:21.720 --> 0:23:24.119
<v Speaker 2>taxes to pay for all these programs we want. I

0:23:24.119 --> 0:23:26.480
<v Speaker 2>wonder how many people who are progressives wouldn't think twice

0:23:26.520 --> 0:23:28.200
<v Speaker 2>about it, going, oh, yeah, we're gonna say, but you're

0:23:28.200 --> 0:23:30.000
<v Speaker 2>paying more money, more money is coming out. Yeah, but

0:23:30.000 --> 0:23:32.720
<v Speaker 2>it's for something I believe in. Okay, So how is

0:23:32.720 --> 0:23:36.960
<v Speaker 2>that any different than those people who wanted the Iran decapitated.

0:23:38.040 --> 0:23:40.400
<v Speaker 2>You know, can we I got okay, I gotta pay

0:23:40.400 --> 0:23:43.960
<v Speaker 2>harder gas prices a while, But but there's hope there.

0:23:44.880 --> 0:23:47.280
<v Speaker 2>And on either side there's probably not not much as changing.

0:23:47.280 --> 0:23:49.720
<v Speaker 2>I mean, you're really gonna you think Iran's is simply

0:23:49.720 --> 0:23:51.040
<v Speaker 2>going to wake up one day and they're gonna look

0:23:51.080 --> 0:23:55.600
<v Speaker 2>like Canada Now, not gonna happen. I almost assure that.

0:23:56.040 --> 0:23:58.520
<v Speaker 2>But we are sitting down and negotiating. But we weren't

0:23:58.560 --> 0:24:01.000
<v Speaker 2>negotiating because they're dead. But now they're alive and we're

0:24:01.000 --> 0:24:02.760
<v Speaker 2>talking to people like it makes no sense. And now

0:24:02.800 --> 0:24:05.040
<v Speaker 2>if you've started adding more people or more troops on

0:24:05.080 --> 0:24:07.320
<v Speaker 2>the ground, that's the problem right there, and that we

0:24:07.359 --> 0:24:10.640
<v Speaker 2>cannot have because something like sixty percent of us, sixty

0:24:10.680 --> 0:24:13.280
<v Speaker 2>percent of Americans do not want that at all, don't

0:24:13.320 --> 0:24:16.119
<v Speaker 2>want it at all, whether you're a Democrat or republic

0:24:16.200 --> 0:24:19.000
<v Speaker 2>and that's a growing number with each and every passing day.

0:24:19.640 --> 0:24:21.760
<v Speaker 2>So just a little perspective here, the glass half full,

0:24:21.760 --> 0:24:23.639
<v Speaker 2>half empty, that's what the glass looks like. It's actually

0:24:23.720 --> 0:24:25.360
<v Speaker 2>it's a glass, and you decide I it's half full

0:24:25.440 --> 0:24:27.520
<v Speaker 2>or empty. And right now, too many people are thinking

0:24:27.520 --> 0:24:29.480
<v Speaker 2>the glass is half empty when it's it's really not.

0:24:29.600 --> 0:24:32.320
<v Speaker 2>It's the same glass. It's the same almost the same

0:24:32.320 --> 0:24:33.000
<v Speaker 2>amount of liquid.

0:24:33.000 --> 0:24:33.480
<v Speaker 4>It's damn.

0:24:33.680 --> 0:24:35.919
<v Speaker 2>You look at the you know, some things have gone up,

0:24:35.960 --> 0:24:38.919
<v Speaker 2>some things have gone down, but it's a trade off.

0:24:39.600 --> 0:24:43.040
<v Speaker 2>The overall economy is still really really strong despite what

0:24:43.200 --> 0:24:44.879
<v Speaker 2>you may think. And yeah, gas is a pain in

0:24:44.920 --> 0:24:47.200
<v Speaker 2>the button. Tariffs have added to that, but we seem

0:24:47.240 --> 0:24:51.440
<v Speaker 2>to be absorbing it, which is which is good. Boy,

0:24:51.440 --> 0:24:53.520
<v Speaker 2>here's a dumb person. This is gonna be the dumbest

0:24:53.520 --> 0:24:55.280
<v Speaker 2>person ever did Are you a fan or Reacher?

0:24:55.640 --> 0:24:55.840
<v Speaker 6>On?

0:24:56.080 --> 0:24:56.320
<v Speaker 5>Uh?

0:24:56.680 --> 0:25:00.359
<v Speaker 2>Was on Amazon? You know, I am all of about

0:25:00.680 --> 0:25:08.639
<v Speaker 2>mindless violence, just inhuman I watched a movie over the

0:25:08.640 --> 0:25:11.520
<v Speaker 2>weekend just like that, and like once in a while,

0:25:11.520 --> 0:25:14.160
<v Speaker 2>it just hits like it's a stupid movie. The premise

0:25:14.240 --> 0:25:17.120
<v Speaker 2>is dumb, but there's a lot of ass whooping going

0:25:17.160 --> 0:25:20.399
<v Speaker 2>on and sometimes you just need that, like the good guys.

0:25:20.560 --> 0:25:22.360
<v Speaker 2>And when Mary talking about this, the more you see

0:25:22.359 --> 0:25:24.600
<v Speaker 2>of those you know, hero kind of guys out there,

0:25:25.040 --> 0:25:27.639
<v Speaker 2>the enforcers that people you know, way back in the

0:25:27.640 --> 0:25:29.560
<v Speaker 2>old old days, you know, guy like Chuck Bronson make

0:25:29.600 --> 0:25:31.639
<v Speaker 2>those movies when the you know, the seventies, when the

0:25:31.640 --> 0:25:34.440
<v Speaker 2>streets of New York and other big cities were burning basically,

0:25:34.440 --> 0:25:36.320
<v Speaker 2>and it was crime was out of control, the economy

0:25:36.359 --> 0:25:38.679
<v Speaker 2>was bad, and so you need these everyday men to

0:25:38.680 --> 0:25:40.680
<v Speaker 2>step up and you know, fight the bad guys because

0:25:40.720 --> 0:25:43.520
<v Speaker 2>the good guys aren't like we have in Cincinnati right now.

0:25:43.600 --> 0:25:45.560
<v Speaker 2>You know, the bad guys are run around. Do what

0:25:45.600 --> 0:25:48.399
<v Speaker 2>that bad guys do. You kind of like need a

0:25:48.480 --> 0:25:50.960
<v Speaker 2>vigilante type out there to set things straight, and Reacher

0:25:51.040 --> 0:25:52.199
<v Speaker 2>is kind of that guy. If you're a fan of

0:25:52.200 --> 0:25:56.080
<v Speaker 2>that show. The actor's name is Alan Richson, and from

0:25:56.119 --> 0:25:57.600
<v Speaker 2>what I've read about the guy, he's being a big

0:25:57.600 --> 0:25:59.680
<v Speaker 2>fan of show. He's like the nicest guy in the world,

0:25:59.720 --> 0:26:01.840
<v Speaker 2>like those church hangs out neighborhood just like you know,

0:26:02.000 --> 0:26:03.680
<v Speaker 2>just an every day guy, a Shuck's kind of guy.

0:26:05.560 --> 0:26:08.000
<v Speaker 2>But his job in the TV show reachur in some

0:26:08.000 --> 0:26:09.879
<v Speaker 2>of the other movies. He's then actually made a movie

0:26:09.920 --> 0:26:11.879
<v Speaker 2>I watched a couple of weekends ago that was just

0:26:12.080 --> 0:26:13.240
<v Speaker 2>purely awful.

0:26:14.400 --> 0:26:16.359
<v Speaker 4>That he was in. I think his first not a

0:26:16.480 --> 0:26:19.439
<v Speaker 4>major motion picture, but it was. It was terrible.

0:26:20.160 --> 0:26:22.520
<v Speaker 2>He's trying to get back into the Armated military because

0:26:22.520 --> 0:26:25.639
<v Speaker 2>his brother died, and then anyway, winds up like on

0:26:25.960 --> 0:26:28.919
<v Speaker 2>some sort of mission and it's a practice thing, except

0:26:28.920 --> 0:26:31.639
<v Speaker 2>it turns into aliens invade America. Like I don't know

0:26:31.640 --> 0:26:34.280
<v Speaker 2>what's going on here. I lost interest, but Alan Richmond

0:26:34.320 --> 0:26:35.320
<v Speaker 2>and rich is fantastic.

0:26:36.920 --> 0:26:37.439
<v Speaker 4>So he is.

0:26:38.240 --> 0:26:41.120
<v Speaker 2>There's video on TMZ of this. And he's a big boy,

0:26:41.200 --> 0:26:44.399
<v Speaker 2>I mean, Alan Richman is. He's a house. He's a

0:26:44.440 --> 0:26:49.400
<v Speaker 2>freaking house. And he's going through his neighborhood on his

0:26:49.480 --> 0:26:51.960
<v Speaker 2>motorcycle with I guess kids. I guess his kids maybe

0:26:51.960 --> 0:26:53.600
<v Speaker 2>were there. This is a Nashville right down the road

0:26:53.600 --> 0:26:57.240
<v Speaker 2>from us here, and he's the neighbor that the angry

0:26:57.240 --> 0:26:59.120
<v Speaker 2>neighbor said. He's driving up and down on his bike

0:26:59.200 --> 0:27:02.720
<v Speaker 2>excessive speed, revving his engine, disturbing the piece, and so

0:27:02.880 --> 0:27:07.919
<v Speaker 2>he flips off Alan Richson, and Alan Richon well returns.

0:27:07.520 --> 0:27:08.960
<v Speaker 4>The gester flips him back off.

0:27:10.119 --> 0:27:12.720
<v Speaker 2>So the next day or daily he comes to driving

0:27:12.840 --> 0:27:16.040
<v Speaker 2>back down and apparently the victim of the alleged victim,

0:27:16.080 --> 0:27:20.600
<v Speaker 2>Ronnie Taylor said, Alan Richard was riding his Kawasaki through

0:27:20.600 --> 0:27:24.200
<v Speaker 2>the quiet Well to do national suburbs, flying at excessive

0:27:24.240 --> 0:27:26.040
<v Speaker 2>speed and revving his engine and all these things.

0:27:26.720 --> 0:27:28.119
<v Speaker 4>And he's with his kids.

0:27:28.240 --> 0:27:29.679
<v Speaker 2>So I don't know if he's doing that or not,

0:27:29.760 --> 0:27:33.720
<v Speaker 2>but nonetheless, all this this guy comes up Rodnie Taylor

0:27:33.800 --> 0:27:38.520
<v Speaker 2>and pushes him off his motors, up his motorcycle and

0:27:38.520 --> 0:27:40.560
<v Speaker 2>then hits him two more times, at which point is

0:27:40.600 --> 0:27:46.439
<v Speaker 2>when a neighbor starts recording this. And it looks like

0:27:46.560 --> 0:27:50.560
<v Speaker 2>a dad fight and a toddler because you see this

0:27:50.640 --> 0:27:52.639
<v Speaker 2>guy down on one of ay and and Alan Richin

0:27:52.800 --> 0:27:54.400
<v Speaker 2>is just pommeling this guy.

0:27:55.119 --> 0:27:59.120
<v Speaker 4>So he's on video on TMZ and he looks like.

0:28:00.680 --> 0:28:02.639
<v Speaker 7>You know, the before and after, except this is the

0:28:02.680 --> 0:28:05.280
<v Speaker 7>after is not really good. He's got a shot, he's all.

0:28:05.359 --> 0:28:08.200
<v Speaker 7>He's all, he's beat to hell. Guy looks like he's

0:28:08.240 --> 0:28:12.119
<v Speaker 7>been through it. But how dumb are you? I bad

0:28:12.200 --> 0:28:12.440
<v Speaker 7>get it.

0:28:12.560 --> 0:28:14.840
<v Speaker 2>Somebody's speeding up and down, but he wondered this guy

0:28:15.680 --> 0:28:17.560
<v Speaker 2>is all, does he got it all together? And again,

0:28:17.600 --> 0:28:19.480
<v Speaker 2>it doesn't matter if you live in the poorest neighborhoods

0:28:19.560 --> 0:28:22.639
<v Speaker 2>or the wealthiest neighborhoods, there's always that guy. I just

0:28:22.640 --> 0:28:25.000
<v Speaker 2>got to feel in this. Ronnie Taylor's that guy. Like

0:28:25.080 --> 0:28:27.879
<v Speaker 2>he's driving. Okay, is the bike a little loud? Maybe

0:28:27.920 --> 0:28:31.040
<v Speaker 2>you're disturbing the piece. You're speeding up and down Okay,

0:28:31.080 --> 0:28:32.639
<v Speaker 2>so maybe you're going a couple of miles over the

0:28:32.640 --> 0:28:35.160
<v Speaker 2>speed limit. I mean, I'm probably not driving eighty ninety

0:28:35.280 --> 0:28:38.080
<v Speaker 2>up and down the street. But he responds to me, going,

0:28:38.080 --> 0:28:40.719
<v Speaker 2>hey man, you know it's kind of quiet. He flips

0:28:40.720 --> 0:28:43.400
<v Speaker 2>the guy off, so that starts, and then then he

0:28:43.480 --> 0:28:46.280
<v Speaker 2>comes back around and this guy shoves reach her off

0:28:46.280 --> 0:28:48.000
<v Speaker 2>his bike. Well, what do you think is gonna happen?

0:28:48.240 --> 0:28:52.360
<v Speaker 2>F around and find out. Yeah, I just I live

0:28:52.440 --> 0:28:54.680
<v Speaker 2>the story went, I don't really have a dog in

0:28:54.720 --> 0:28:57.240
<v Speaker 2>the sun. It's interesting, But why would you pick a

0:28:57.280 --> 0:28:59.320
<v Speaker 2>fight with that dude? And he said, I had no

0:28:59.320 --> 0:29:02.000
<v Speaker 2>idea who he would. I don't know even if you

0:29:02.000 --> 0:29:03.880
<v Speaker 2>didn't know who he was. And he's an actor, he's

0:29:03.920 --> 0:29:08.120
<v Speaker 2>playing a tough guy. He's still a big dude.

0:29:08.320 --> 0:29:08.520
<v Speaker 5>You know.

0:29:08.640 --> 0:29:11.120
<v Speaker 4>You mess around with that, you gotta gets your ass whooped.

0:29:13.640 --> 0:29:15.680
<v Speaker 2>There's another one I can't figure out too. This is

0:29:16.560 --> 0:29:18.760
<v Speaker 2>this is another story. You need more information of it.

0:29:19.640 --> 0:29:22.600
<v Speaker 2>This guy name is Dayton Weber. He's twenty seven. He

0:29:22.680 --> 0:29:26.960
<v Speaker 2>is a professional cornhole player. He is on the tour,

0:29:27.080 --> 0:29:31.680
<v Speaker 2>the Cornhole Tour, whatever the cornhole tour is, and he

0:29:31.800 --> 0:29:35.120
<v Speaker 2>is now in jail in Maryland charged with first degree murder.

0:29:36.520 --> 0:29:40.480
<v Speaker 2>So the dude's rolling in his car and he's got witnesses,

0:29:40.520 --> 0:29:43.480
<v Speaker 2>he's got people in the back seat, and the victim

0:29:43.920 --> 0:29:47.040
<v Speaker 2>is also a twenty seven year old man named Brad Wells,

0:29:47.520 --> 0:29:50.520
<v Speaker 2>and mister Wells was shot by Dayton Webber, the cornhole guy,

0:29:50.600 --> 0:29:53.240
<v Speaker 2>the front seat passenger. They got in an argument while

0:29:53.360 --> 0:29:55.720
<v Speaker 2>Weber is driving. Maybe I don't know who they're fighting over, reacher,

0:29:55.800 --> 0:29:59.960
<v Speaker 2>I don't know, maybe fighting about the Iran war. Shoot

0:30:00.160 --> 0:30:02.360
<v Speaker 2>the guy dead in his own car, the corn hole

0:30:02.400 --> 0:30:05.680
<v Speaker 2>professional and fled with the body still in the car.

0:30:06.080 --> 0:30:09.280
<v Speaker 2>After the backseat passengers refuse to help get rid of

0:30:09.280 --> 0:30:10.920
<v Speaker 2>the body. It's like, I need you to help me

0:30:10.960 --> 0:30:12.720
<v Speaker 2>get rid of this guy and just shot. Like, no,

0:30:12.760 --> 0:30:14.760
<v Speaker 2>we're not doing that. What we are going to do

0:30:15.040 --> 0:30:18.320
<v Speaker 2>is go right to the police. Here is the increased

0:30:18.320 --> 0:30:21.040
<v Speaker 2>difficulty level on this crime. Sorry, what's the big deal?

0:30:21.280 --> 0:30:24.280
<v Speaker 2>Corn professional goal or player murder someone? I suppose cornhole

0:30:24.280 --> 0:30:28.360
<v Speaker 2>players can get angry, Sure, why not? The dude is

0:30:28.400 --> 0:30:35.840
<v Speaker 2>a quadruple amputee. Now I know we have prosthetics and

0:30:35.880 --> 0:30:39.440
<v Speaker 2>things like that, but the quadruple amptit ampute driving a

0:30:39.480 --> 0:30:43.360
<v Speaker 2>car and while driving the car also a professional cornhole

0:30:43.400 --> 0:30:47.960
<v Speaker 2>player while while driving the car, somehow is able to

0:30:47.960 --> 0:30:51.800
<v Speaker 2>get a gun and shoot this guy. And the biggest

0:30:51.880 --> 0:30:58.600
<v Speaker 2>question you have is how how a would a quad ampute?

0:30:58.840 --> 0:31:00.920
<v Speaker 2>I have no idea how that works. I'm not making

0:31:00.960 --> 0:31:05.200
<v Speaker 2>fun of the contition. I'm just curious. You're driving and

0:31:05.280 --> 0:31:08.800
<v Speaker 2>shooting a guy and you play cornwall professionally pretty good,

0:31:09.880 --> 0:31:12.520
<v Speaker 2>maybe like an Oscar Pistorius kind of thing, you know,

0:31:12.520 --> 0:31:15.920
<v Speaker 2>the blade runner thing, but that one is like leaving Huh,

0:31:16.560 --> 0:31:18.400
<v Speaker 2>I wonder what that looked like exactly.

0:31:18.640 --> 0:31:21.320
<v Speaker 4>That's exactly what I wonder. Do we have video?

0:31:21.680 --> 0:31:23.920
<v Speaker 2>I kind of need to see some video there, just

0:31:24.160 --> 0:31:26.719
<v Speaker 2>asking we got news on the way in just minutes.

0:31:26.800 --> 0:31:29.400
<v Speaker 4>And then as we focus.

0:31:29.080 --> 0:31:32.200
<v Speaker 2>About Iran and you know, possible lone wolf attacks and

0:31:32.720 --> 0:31:35.520
<v Speaker 2>maybe nuclear salts and dirty bombs and all these things

0:31:35.560 --> 0:31:37.960
<v Speaker 2>that were scared to death of are we not paying

0:31:38.000 --> 0:31:41.080
<v Speaker 2>attention to the obvious? Based on what happened with Striker

0:31:41.160 --> 0:31:44.280
<v Speaker 2>Medical Devices and most recently Microsoft in that attack. Is

0:31:44.720 --> 0:31:47.800
<v Speaker 2>our buddy Chris Nihi, CEO of Cincinnia based Vision in Cybersecurity,

0:31:47.840 --> 0:31:50.120
<v Speaker 2>has done some research and you're not going to believe

0:31:50.160 --> 0:31:55.440
<v Speaker 2>what he found out relative to now computer code being

0:31:55.480 --> 0:31:58.720
<v Speaker 2>infected with malware. Nobody knows about it. He just did

0:31:58.720 --> 0:32:00.920
<v Speaker 2>some investigation and broke this. Don't share that with you. Next,

0:32:00.960 --> 0:32:04.000
<v Speaker 2>and why we should be more concerned about hackers then

0:32:04.040 --> 0:32:06.720
<v Speaker 2>we should be about bombers. Next Scott's Loan Show, seven

0:32:06.800 --> 0:32:08.080
<v Speaker 2>hundred WW Cincinnati.

0:32:08.400 --> 0:32:11.360
<v Speaker 1>Do you want to be an American slill?

0:32:11.480 --> 0:32:13.160
<v Speaker 4>Be back on seven hundred WLW.

0:32:13.280 --> 0:32:15.800
<v Speaker 2>I don't know if you know this word war trying

0:32:15.800 --> 0:32:17.440
<v Speaker 2>to get out of it, but so we are definitely

0:32:17.440 --> 0:32:20.160
<v Speaker 2>in it. And you know, we're concerned about attacks in

0:32:20.200 --> 0:32:22.080
<v Speaker 2>the homeland, lone wolf attacks and things like that. The

0:32:22.080 --> 0:32:25.040
<v Speaker 2>biggest one is, you know, cyber attacks. And remember a

0:32:25.080 --> 0:32:27.479
<v Speaker 2>couple of weeks ago, if that we had the attack

0:32:27.520 --> 0:32:30.360
<v Speaker 2>on Striker, the medical company, and they're still trying to

0:32:30.400 --> 0:32:34.160
<v Speaker 2>dig out from that. An Iranian linked hacking group called

0:32:34.440 --> 0:32:38.520
<v Speaker 2>three thirteen team claim responsibility for Microsoft's three sixty five

0:32:38.560 --> 0:32:41.520
<v Speaker 2>out it just last week, saying the knocked out service

0:32:41.560 --> 0:32:44.400
<v Speaker 2>for five hours and wanted to extend the attack. And

0:32:44.400 --> 0:32:46.200
<v Speaker 2>it looked like it's fine. They were able to fix that.

0:32:46.280 --> 0:32:48.920
<v Speaker 2>But these things might be part of a big one

0:32:49.000 --> 0:32:51.760
<v Speaker 2>yet to come. And he's uncovered something that indicates that

0:32:51.760 --> 0:32:53.600
<v Speaker 2>that is true. His name is Chris Nihisk. He is

0:32:53.640 --> 0:32:57.080
<v Speaker 2>the CEO of Cincinnati based Vigilant Cybersecurity, joined to the

0:32:57.080 --> 0:32:58.840
<v Speaker 2>show this morning. Chris, welcome, how are you.

0:32:59.840 --> 0:33:01.440
<v Speaker 6>I'm doing great, Scotts, good to be here.

0:33:01.760 --> 0:33:04.080
<v Speaker 2>So real quick, let's back up Microsoft, and I remember

0:33:04.080 --> 0:33:06.080
<v Speaker 2>three sixty five wasn't work. I was getting mail and

0:33:06.120 --> 0:33:07.880
<v Speaker 2>it affect a lot of people, but it was kind

0:33:07.880 --> 0:33:10.280
<v Speaker 2>of a blitz. It wasn't a huge outage, right, Like

0:33:10.680 --> 0:33:14.120
<v Speaker 2>we're talking like Striker that was. That was a massive attack,

0:33:14.160 --> 0:33:16.920
<v Speaker 2>shutting that company down essentially. Let's back up to that.

0:33:16.920 --> 0:33:20.400
<v Speaker 2>Then with Striker, these stories get reported. Yeah, they had

0:33:20.440 --> 0:33:23.400
<v Speaker 2>all their data taken away and they completely deleted the

0:33:23.400 --> 0:33:26.920
<v Speaker 2>hard drives and they have all their data and Striker

0:33:26.960 --> 0:33:29.320
<v Speaker 2>has nothing. Can you tell me what's going on inside

0:33:29.320 --> 0:33:32.080
<v Speaker 2>Striker today now that we're not paying attention to it anymore,

0:33:32.080 --> 0:33:33.360
<v Speaker 2>are they able to function?

0:33:34.600 --> 0:33:34.800
<v Speaker 6>Right?

0:33:34.840 --> 0:33:37.040
<v Speaker 8>I mean, so they're they're they're coming back online. They're

0:33:37.080 --> 0:33:39.560
<v Speaker 8>working through that. And that's how these these things happen,

0:33:39.600 --> 0:33:42.760
<v Speaker 8>is they take down the operations of an organization and

0:33:42.800 --> 0:33:46.240
<v Speaker 8>then that organization start to you know, bring themselves back on.

0:33:46.320 --> 0:33:48.640
<v Speaker 8>Now there's not a lot of information coming out of Striker,

0:33:49.320 --> 0:33:51.520
<v Speaker 8>and you know, and and I understand why they don't

0:33:51.520 --> 0:33:54.080
<v Speaker 8>want to really release a lot of opsect types of

0:33:54.280 --> 0:33:57.640
<v Speaker 8>types of things of what they're doing or even what happened.

0:33:57.680 --> 0:34:00.920
<v Speaker 8>And I'm sure that the US Department Defense is not

0:34:01.000 --> 0:34:02.720
<v Speaker 8>letting them say a lot of things either because it's

0:34:02.720 --> 0:34:06.000
<v Speaker 8>so connected. But you know, it is it is going

0:34:06.040 --> 0:34:07.960
<v Speaker 8>to be a long road for them to bring things

0:34:08.000 --> 0:34:08.759
<v Speaker 8>back online.

0:34:09.040 --> 0:34:09.919
<v Speaker 4>Okay, fair enough.

0:34:10.960 --> 0:34:13.440
<v Speaker 2>Then on we had the Microsoft out just last week,

0:34:13.480 --> 0:34:15.239
<v Speaker 2>and like I said, I we were affected by a

0:34:15.239 --> 0:34:17.080
<v Speaker 2>little bit, but that wasn't really a big one.

0:34:16.920 --> 0:34:18.120
<v Speaker 9>Was it.

0:34:18.120 --> 0:34:19.640
<v Speaker 8>It wasn't a big one. And then in fact, that

0:34:19.680 --> 0:34:22.200
<v Speaker 8>actually happened again yesterday. So there were last week there

0:34:22.200 --> 0:34:26.320
<v Speaker 8>were two outages with Microsoft, you know, with different products

0:34:26.320 --> 0:34:29.200
<v Speaker 8>that they have. You know, there was an a rainy

0:34:29.200 --> 0:34:31.799
<v Speaker 8>group that came out that said that they were attributed

0:34:31.800 --> 0:34:34.479
<v Speaker 8>to it. Microsoft has not released that yet and they've

0:34:34.520 --> 0:34:38.000
<v Speaker 8>actually kept they keep saying that it was an internal issue.

0:34:38.360 --> 0:34:42.440
<v Speaker 8>And then yesterday they had another outage that they said

0:34:42.560 --> 0:34:46.239
<v Speaker 8>was because of a virtual assistant that they deployed that

0:34:46.400 --> 0:34:49.239
<v Speaker 8>caused it. Just it was buggy and it took things

0:34:49.280 --> 0:34:52.120
<v Speaker 8>down again. So in the last few weeks, Microsoft's had

0:34:52.160 --> 0:34:54.600
<v Speaker 8>two outages. Now the thing that's important to note here

0:34:55.320 --> 0:34:57.920
<v Speaker 8>is whether it's attributed to a threat actor or not,

0:34:59.239 --> 0:35:01.359
<v Speaker 8>it's still It's something you and I've been talking about

0:35:01.400 --> 0:35:03.560
<v Speaker 8>for a long time here is that so many organizations

0:35:03.600 --> 0:35:06.480
<v Speaker 8>have put all their eggs in one basket or just

0:35:06.560 --> 0:35:10.239
<v Speaker 8>a few, and so when these applications go down, your

0:35:10.560 --> 0:35:14.080
<v Speaker 8>entire business halts. And so you know, the real big

0:35:14.080 --> 0:35:17.960
<v Speaker 8>things to learn here from Microsoft is, you know, make

0:35:18.000 --> 0:35:22.319
<v Speaker 8>sure that you've got redundancy in your organization. Now there

0:35:22.360 --> 0:35:24.520
<v Speaker 8>are going to be and we'll talk about some more

0:35:24.560 --> 0:35:26.600
<v Speaker 8>stuff here in a second, but there's going to be

0:35:26.640 --> 0:35:28.600
<v Speaker 8>more and more attacks. So like we just we just

0:35:28.719 --> 0:35:31.279
<v Speaker 8>know that that's going to happen, that will continue to

0:35:31.320 --> 0:35:36.000
<v Speaker 8>happen even beyond the ramp, right, And and the one

0:35:36.040 --> 0:35:40.080
<v Speaker 8>thing that's interesting here too is these attacks just don't happen.

0:35:40.520 --> 0:35:43.239
<v Speaker 8>Like you know, with the Striker for instance, more than

0:35:43.440 --> 0:35:47.880
<v Speaker 8>likely they were inside Striker's environment for months, more than likely.

0:35:48.000 --> 0:35:49.600
<v Speaker 8>You know, I think we'll you know, we find that

0:35:49.640 --> 0:35:52.800
<v Speaker 8>out with almost every breach. The average time and attackers

0:35:52.800 --> 0:35:54.680
<v Speaker 8>in a company is two in eighty seven days. So

0:35:55.320 --> 0:35:59.239
<v Speaker 8>they were in that environment more than likely. Right, if

0:35:59.360 --> 0:36:01.480
<v Speaker 8>statistics go way before we.

0:36:01.440 --> 0:36:04.719
<v Speaker 2>Even attack your RM Okay, so that makes sense. All

0:36:04.719 --> 0:36:06.600
<v Speaker 2>this stuff's coming together. And as we said, you know,

0:36:06.640 --> 0:36:09.640
<v Speaker 2>with the Iran war, Chris, you know, we're focused on

0:36:09.680 --> 0:36:12.360
<v Speaker 2>missiles and bombs and terrorist attacks and things like that,

0:36:12.440 --> 0:36:15.319
<v Speaker 2>of course, but the cyber ones to simply go by

0:36:15.360 --> 0:36:17.320
<v Speaker 2>the wayside, you know, okay, strike and people have largely

0:36:17.360 --> 0:36:19.800
<v Speaker 2>forgotten about that. It feels to me like we should

0:36:19.800 --> 0:36:24.200
<v Speaker 2>be more concerned about this than actual physical bombs and

0:36:24.239 --> 0:36:26.480
<v Speaker 2>missiles as opposed to cyber attacks.

0:36:27.360 --> 0:36:30.160
<v Speaker 8>Well, I think we should, you know, and you know,

0:36:30.200 --> 0:36:34.520
<v Speaker 8>we have a i would say, very very soft underbelly

0:36:35.040 --> 0:36:37.799
<v Speaker 8>that a lot of people don't that aren't aware of.

0:36:38.080 --> 0:36:41.440
<v Speaker 8>And when it comes to cybersecurity, you know, bombs and

0:36:41.480 --> 0:36:44.440
<v Speaker 8>missiles in some ways that and that's more. You know,

0:36:44.440 --> 0:36:48.839
<v Speaker 8>it's called kinetic warfare. That type of kinetic warfare in

0:36:48.880 --> 0:36:50.959
<v Speaker 8>some ways is a distraction in a lot of ways

0:36:51.000 --> 0:36:53.120
<v Speaker 8>now because if you really want to take a company

0:36:53.160 --> 0:36:57.520
<v Speaker 8>down or a country down, you take down their core infrastructure, right,

0:36:57.600 --> 0:37:00.399
<v Speaker 8>And that's what happened last couple of days with you know,

0:37:00.640 --> 0:37:03.200
<v Speaker 8>Trump saying, hey, we're going to take out your nuclear,

0:37:03.920 --> 0:37:06.239
<v Speaker 8>your power stations, and Rand's like, okay, cool, we'll take

0:37:06.280 --> 0:37:07.560
<v Speaker 8>out your water and your power.

0:37:08.120 --> 0:37:10.560
<v Speaker 6>So it's it is a it is a it is

0:37:10.600 --> 0:37:11.000
<v Speaker 6>a big.

0:37:10.880 --> 0:37:11.719
<v Speaker 4>Strength game, you know.

0:37:12.239 --> 0:37:14.600
<v Speaker 2>Okay, good Chris and I heis here, CEO of Cincinnati

0:37:14.640 --> 0:37:18.000
<v Speaker 2>based Vigilant Cybersecurity, on the show, kind of rehashing what

0:37:18.080 --> 0:37:21.200
<v Speaker 2>happened with Striker the cyber tech. A couple of weeks ago,

0:37:21.239 --> 0:37:24.000
<v Speaker 2>we had the Microsoft outage that affected a lot of people,

0:37:24.040 --> 0:37:28.279
<v Speaker 2>but briefly and you've done some research here that that

0:37:28.400 --> 0:37:30.640
<v Speaker 2>indicates the worst is yet to come and has to

0:37:30.640 --> 0:37:33.480
<v Speaker 2>do with something called GitHub. And GitHub is basically if

0:37:33.520 --> 0:37:35.640
<v Speaker 2>you have Google Cloud or one Drive, and you know

0:37:35.680 --> 0:37:38.719
<v Speaker 2>everything stored to cloud. Basically it's the cloud of computer code.

0:37:38.760 --> 0:37:41.680
<v Speaker 2>It's where all the programmers put their code in the cloud.

0:37:41.800 --> 0:37:43.239
<v Speaker 2>And that has been compromised.

0:37:44.600 --> 0:37:47.840
<v Speaker 8>So and I want to be really clear here and carefully.

0:37:48.040 --> 0:37:52.280
<v Speaker 8>The GitHub itself great platform. It is an amazing place

0:37:52.320 --> 0:37:56.239
<v Speaker 8>that allows developers put code there, both private code and

0:37:56.280 --> 0:38:00.720
<v Speaker 8>public code. Get up itself hasn't been compromised the and

0:38:00.719 --> 0:38:02.600
<v Speaker 8>and I also want to say that the open source

0:38:02.640 --> 0:38:07.560
<v Speaker 8>community is a huge community that enables developers to develop

0:38:07.600 --> 0:38:10.680
<v Speaker 8>applications and get them out there so people can use them.

0:38:10.719 --> 0:38:13.440
<v Speaker 8>And there's so many people that develop software for free

0:38:13.800 --> 0:38:17.840
<v Speaker 8>it's been countless hours doing that. Now, what what we

0:38:18.000 --> 0:38:21.360
<v Speaker 8>found so that this happened about three weeks ago. We

0:38:21.400 --> 0:38:27.160
<v Speaker 8>saw this this small story pop up just in the community, uh,

0:38:27.200 --> 0:38:30.080
<v Speaker 8>you know, the cyber community and a little bit on

0:38:30.080 --> 0:38:33.120
<v Speaker 8>on on Instagram and things are not on Instagram but Twitter.

0:38:33.480 --> 0:38:37.160
<v Speaker 8>About a company called Trivia. Now, Trivia is a security

0:38:37.200 --> 0:38:41.879
<v Speaker 8>tool that is used by developers that once they they

0:38:41.960 --> 0:38:45.319
<v Speaker 8>launch code, they use this tool to develop it. Because

0:38:45.320 --> 0:38:48.160
<v Speaker 8>a lot of people that develop software on that put

0:38:48.200 --> 0:38:51.880
<v Speaker 8>it up on GitHub that's open source. There're those small people,

0:38:51.920 --> 0:38:55.320
<v Speaker 8>you know, small teams, so they use these other applications

0:38:55.320 --> 0:38:59.799
<v Speaker 8>to scan them what happened. So when you do that,

0:38:59.840 --> 0:39:02.040
<v Speaker 8>because you have small teams, you're trying to do all this.

0:39:02.719 --> 0:39:04.960
<v Speaker 8>There are these things called actions. What actions are is

0:39:05.000 --> 0:39:09.880
<v Speaker 8>basically automation. So if I deployed new software, those actions

0:39:09.880 --> 0:39:12.120
<v Speaker 8>that automation will kick off to do a whole bunch

0:39:12.160 --> 0:39:16.880
<v Speaker 8>of different things. Right now, the way that open source

0:39:16.920 --> 0:39:20.160
<v Speaker 8>software works is someone will develop a piece of software

0:39:21.080 --> 0:39:24.319
<v Speaker 8>and then other people think it's cool and they'll fork it,

0:39:24.680 --> 0:39:27.480
<v Speaker 8>or they'll they'll they'll take that software and build on

0:39:27.600 --> 0:39:29.600
<v Speaker 8>top of it. And so you can have a single

0:39:29.640 --> 0:39:33.839
<v Speaker 8>piece of software that might have millions of other applications

0:39:33.880 --> 0:39:37.480
<v Speaker 8>built on top of it, and these could be they

0:39:37.480 --> 0:39:39.640
<v Speaker 8>could be hard monitors, they could be whatever right that's

0:39:39.640 --> 0:39:40.040
<v Speaker 8>out there.

0:39:40.760 --> 0:39:42.400
<v Speaker 6>So so when.

0:39:42.200 --> 0:39:44.960
<v Speaker 8>This came across, something that didn't feel right, so I

0:39:44.960 --> 0:39:47.160
<v Speaker 8>started doing a bunch of research. My team started doing

0:39:47.200 --> 0:39:50.080
<v Speaker 8>a bunch of research. We took some of our code

0:39:50.600 --> 0:39:53.719
<v Speaker 8>in our applications and actually made it made it into

0:39:53.760 --> 0:39:55.560
<v Speaker 8>a scanner that we released for free.

0:39:55.920 --> 0:39:56.880
<v Speaker 4>It's called runner.

0:39:56.600 --> 0:40:00.479
<v Speaker 8>Guard, but basically what we did started scanning of top

0:40:00.520 --> 0:40:07.520
<v Speaker 8>fifty thousand used applications out on GitHub to fifty thousand repositories,

0:40:08.160 --> 0:40:12.360
<v Speaker 8>and we found that in this Trivia attack too. What

0:40:12.480 --> 0:40:17.839
<v Speaker 8>happened was this attacker took over some authentication tokens and

0:40:18.040 --> 0:40:23.560
<v Speaker 8>they then implemented code into Trivia's the security ski inner's

0:40:23.600 --> 0:40:28.240
<v Speaker 8>actual code, so they broke through into GitHub uploaded state

0:40:28.320 --> 0:40:32.759
<v Speaker 8>code that had vulnerabilities in it. That code then got

0:40:32.960 --> 0:40:37.920
<v Speaker 8>spread through these actions to thousands and thousands of other

0:40:37.960 --> 0:40:41.719
<v Speaker 8>applications that Trivia used. So if you used Triviy, more

0:40:41.760 --> 0:40:46.520
<v Speaker 8>than likely your open source code was infected with malware.

0:40:46.680 --> 0:40:50.319
<v Speaker 8>Over the last couple of weeks. Then they came back

0:40:50.360 --> 0:40:54.080
<v Speaker 8>to Trivia and attacked them again with more of these

0:40:54.719 --> 0:40:58.279
<v Speaker 8>vulnerabilities that Trivia had a second time, they did it

0:40:58.360 --> 0:41:00.960
<v Speaker 8>a third time, and then literally last couple of days,

0:41:01.040 --> 0:41:05.239
<v Speaker 8>they defaced their entire webing. So we looked into this,

0:41:05.280 --> 0:41:08.160
<v Speaker 8>We're like, man, if Trivia's vulnerable to this, who else

0:41:08.239 --> 0:41:13.920
<v Speaker 8>is scan? Fifty thousand repos? Twenty thousand, two hundred and

0:41:13.920 --> 0:41:17.520
<v Speaker 8>sixty five repos are vulnerable to the exact same attack.

0:41:18.600 --> 0:41:22.600
<v Speaker 8>That's one hundred and ninety two thousand vulnerabilities. And the

0:41:22.680 --> 0:41:26.240
<v Speaker 8>scary part about it is on top of those twenty

0:41:26.239 --> 0:41:26.960
<v Speaker 8>thousand repos.

0:41:27.040 --> 0:41:29.240
<v Speaker 6>Remember I said, it's like an upside down tumid.

0:41:29.320 --> 0:41:34.120
<v Speaker 8>Right, five hundred and ninety million projects are vulnerable.

0:41:34.120 --> 0:41:37.480
<v Speaker 2>Way, five hundred ninety million projects. Five hundred and ninety

0:41:37.480 --> 0:41:40.799
<v Speaker 2>million projects. That's yeah, that's pretty much all the projects, say,

0:41:40.800 --> 0:41:43.640
<v Speaker 2>all the projects, right, all the projects.

0:41:43.760 --> 0:41:44.360
<v Speaker 10>It's a lot of.

0:41:44.360 --> 0:41:47.200
<v Speaker 4>Projects projects And so what's so?

0:41:47.239 --> 0:41:47.359
<v Speaker 5>All?

0:41:47.440 --> 0:41:47.680
<v Speaker 3>Right?

0:41:47.719 --> 0:41:52.399
<v Speaker 2>So that's infected? And is this just Iran doing this?

0:41:52.520 --> 0:41:57.440
<v Speaker 2>Is it Iraqi hackers? Bangladeshi and they're all organized on telegram?

0:41:57.480 --> 0:41:59.120
<v Speaker 2>I guess that's where they.

0:41:59.200 --> 0:42:02.759
<v Speaker 8>Yeah, so those are and those are vulnerable projects. So

0:42:02.760 --> 0:42:04.920
<v Speaker 8>those are not projects that have been compromised that we

0:42:05.000 --> 0:42:08.040
<v Speaker 8>know of yet now highly likely that they have because

0:42:08.080 --> 0:42:10.640
<v Speaker 8>if they found trivia, they've gone and kicked off some

0:42:10.680 --> 0:42:13.120
<v Speaker 8>of these and these other reposts. Now we've been scanning,

0:42:13.320 --> 0:42:17.360
<v Speaker 8>We've been, we've been notifying, We've been you know, I

0:42:17.400 --> 0:42:19.960
<v Speaker 8>have not slept much, you know, in the last few weeks.

0:42:20.600 --> 0:42:22.320
<v Speaker 8>You know, when you and I spoke last week, I

0:42:22.360 --> 0:42:25.080
<v Speaker 8>had literally been up the entire night. A few members

0:42:25.120 --> 0:42:27.439
<v Speaker 8>for our team as well. Because this is a big deal.

0:42:27.520 --> 0:42:30.840
<v Speaker 8>Is that these companies. There's two things that have to happen.

0:42:30.960 --> 0:42:34.480
<v Speaker 8>One is companies that develop open source software need to

0:42:34.600 --> 0:42:38.200
<v Speaker 8>validate whether or not they have these vulnerabilities. And Scott

0:42:38.239 --> 0:42:40.919
<v Speaker 8>it's it's literally a three minute fix. It's a three

0:42:40.960 --> 0:42:41.479
<v Speaker 8>minute fix.

0:42:41.600 --> 0:42:41.960
<v Speaker 4>Gotcha.

0:42:42.040 --> 0:42:44.720
<v Speaker 2>Yeah, christ heis is here CEO of since they based

0:42:44.800 --> 0:42:47.360
<v Speaker 2>vision and cybersecurity. You know, we're worried about missile attacks

0:42:47.360 --> 0:42:49.800
<v Speaker 2>and Loana wolf attacks with Iran in the Middle East,

0:42:49.880 --> 0:42:52.400
<v Speaker 2>and we really need to be concerned more about cyber attacks.

0:42:52.440 --> 0:42:55.560
<v Speaker 2>We saw what happens Striker, the medical device company Microsoft

0:42:55.560 --> 0:42:58.040
<v Speaker 2>three sixty five outage, and now Chris and his team

0:42:58.040 --> 0:43:02.719
<v Speaker 2>at vigilant As uncovered something huge and the depository, the

0:43:02.800 --> 0:43:03.319
<v Speaker 2>cloud for.

0:43:04.920 --> 0:43:07.200
<v Speaker 4>Code called GitHub has.

0:43:07.080 --> 0:43:09.400
<v Speaker 2>Been compromised to a degree, not itself but one of

0:43:09.440 --> 0:43:12.400
<v Speaker 2>the And so we're talking pretty much all these projects,

0:43:12.440 --> 0:43:15.960
<v Speaker 2>which is in the tens of hundreds of millions, have

0:43:16.040 --> 0:43:19.280
<v Speaker 2>all been compromised with this malicious code and malicious software.

0:43:19.320 --> 0:43:22.880
<v Speaker 2>And so let me bring it to well the potentially

0:43:23.400 --> 0:43:25.840
<v Speaker 2>potentially potentially, But I mean, they don't do it just

0:43:25.880 --> 0:43:29.120
<v Speaker 2>to go, hey, we're kicking the tires on this, and

0:43:29.120 --> 0:43:32.440
<v Speaker 2>this is what you found. And there's other cybersecurity firms

0:43:32.440 --> 0:43:35.279
<v Speaker 2>and experts that are doing the same thing. Here's where

0:43:35.280 --> 0:43:37.880
<v Speaker 2>it comes to the whoa scary part. So there's this

0:43:37.920 --> 0:43:41.080
<v Speaker 2>group called apt Iran which may be part of this

0:43:41.120 --> 0:43:43.479
<v Speaker 2>whole thing you're talking about. They claim that they caused

0:43:43.480 --> 0:43:45.759
<v Speaker 2>an explosion to kill a thirty year old father in

0:43:45.800 --> 0:43:52.319
<v Speaker 2>Nebraska last year. Fremont, Nebraska last year. Friends and family said, well,

0:43:52.440 --> 0:43:53.920
<v Speaker 2>friends and family, I'm reading the story. Your friends of

0:43:54.000 --> 0:43:56.279
<v Speaker 2>themly confirmed that the identity two girls killed at a

0:43:56.280 --> 0:43:58.719
<v Speaker 2>biofields place. So the dad was there, third year old

0:43:58.800 --> 0:44:01.439
<v Speaker 2>dad was working and his daughter were there with him

0:44:01.880 --> 0:44:05.560
<v Speaker 2>and the biofield there's an explosion of bioicles but killed

0:44:05.560 --> 0:44:09.799
<v Speaker 2>all three of them. And Iranian hackers have taken responsibility

0:44:09.800 --> 0:44:12.520
<v Speaker 2>for it, and so that does Now, if you're the government,

0:44:12.520 --> 0:44:14.600
<v Speaker 2>you go out, we want to admit that that's possible

0:44:14.600 --> 0:44:17.359
<v Speaker 2>that the Iranians caused this to happen and killed three

0:44:17.360 --> 0:44:19.840
<v Speaker 2>people to a man is a father and his two girls.

0:44:20.040 --> 0:44:24.040
<v Speaker 4>You certainly don't want that getting out. You do, and

0:44:24.120 --> 0:44:26.600
<v Speaker 4>you don't, right. I think it's I think as.

0:44:26.480 --> 0:44:30.319
<v Speaker 8>A you know, I was, yeah, well, we won't talk

0:44:30.320 --> 0:44:31.880
<v Speaker 8>about that, but basically.

0:44:31.600 --> 0:44:35.680
<v Speaker 4>Yeah, you're doing you you don't exactly so censored.

0:44:35.640 --> 0:44:39.960
<v Speaker 8>Because ultimately, you know, you have to inform the public

0:44:40.120 --> 0:44:43.960
<v Speaker 8>of what's really going on, because the danger is the speculation.

0:44:43.640 --> 0:44:45.200
<v Speaker 4>Right, right, that's the danger.

0:44:45.360 --> 0:44:49.040
<v Speaker 8>The danger is the you know, because you know, the

0:44:49.200 --> 0:44:55.880
<v Speaker 8>conspiracies happen when people know something's off and the data

0:44:56.520 --> 0:44:59.000
<v Speaker 8>is just enough to tell them that it's off, but

0:44:59.400 --> 0:45:01.520
<v Speaker 8>they don't know how to explain it, and so they

0:45:01.600 --> 0:45:06.160
<v Speaker 8>make up and that's where conspiracy or so so I

0:45:06.160 --> 0:45:07.800
<v Speaker 8>think I think the US government has to do a

0:45:07.880 --> 0:45:12.640
<v Speaker 8>much better job of talking about what's actually happening so

0:45:12.680 --> 0:45:15.400
<v Speaker 8>the public doesn't freak out as much. Now, you know,

0:45:15.440 --> 0:45:17.839
<v Speaker 8>we talked two years ago about the colonial attack, right,

0:45:18.400 --> 0:45:21.560
<v Speaker 8>and we talked about then that the Colonial pipeline attack

0:45:22.200 --> 0:45:24.400
<v Speaker 8>was more of a test and that's what I believe

0:45:24.400 --> 0:45:28.200
<v Speaker 8>it was. Yeah, yeah, because when they took over that

0:45:28.560 --> 0:45:31.000
<v Speaker 8>one thing people don't know is inside of a pipeline

0:45:31.080 --> 0:45:33.400
<v Speaker 8>are these sensors. And if you can get access to

0:45:33.440 --> 0:45:37.480
<v Speaker 8>those sensors, which you know colonial said that the attackers didn't,

0:45:38.320 --> 0:45:40.480
<v Speaker 8>but if you get access to those sensors, you can

0:45:40.520 --> 0:45:44.600
<v Speaker 8>actually heat them up and explode a pipeline. And so

0:45:45.200 --> 0:45:46.759
<v Speaker 8>so we just have to be aware that as a

0:45:46.920 --> 0:45:50.239
<v Speaker 8>country we're very vulnerable and we need to be we

0:45:50.280 --> 0:45:52.399
<v Speaker 8>need to be pointing our attention to making sure we're

0:45:52.480 --> 0:45:54.840
<v Speaker 8>less vulnerable. Gotcha, he is Chris and I high CEO

0:45:54.920 --> 0:45:57.920
<v Speaker 8>at Vigilant Cybersecurity. And now you know, thanks again for

0:45:57.960 --> 0:45:59.160
<v Speaker 8>the time, buddy, I appreciate it.

0:45:59.800 --> 0:46:00.640
<v Speaker 4>Got I mean anytime.

0:46:00.880 --> 0:46:03.040
<v Speaker 2>Yeah, lone wolves and missiles. Yeah, where we got an

0:46:03.040 --> 0:46:05.040
<v Speaker 2>eye out with the cyber stuff. Man, that that's going

0:46:05.120 --> 0:46:07.040
<v Speaker 2>to be the big one we are due. I hate

0:46:07.080 --> 0:46:10.080
<v Speaker 2>to say it, but a cyber nine to eleven is coming.

0:46:10.120 --> 0:46:12.680
<v Speaker 2>It's coming. Maybe not today, maybe not tomorrow, maybe not

0:46:12.760 --> 0:46:15.320
<v Speaker 2>weeks and we were a month, but soon it's coming.

0:46:15.600 --> 0:46:21.279
<v Speaker 2>Scott Sloan Show, seven hundred w O Tuesday Morning with

0:46:21.280 --> 0:46:24.919
<v Speaker 2>Sloan Here seven hundred WWE countdown is on the opening day.

0:46:25.040 --> 0:46:27.719
<v Speaker 2>I'll be live at Holy Grail Banks starting at nine

0:46:27.840 --> 0:46:31.480
<v Speaker 2>a m. I always love rolling up on Thursday morning,

0:46:31.560 --> 0:46:36.080
<v Speaker 2>Opening day and seeing the long line of potential drunks

0:46:36.440 --> 0:46:40.320
<v Speaker 2>lined up outside. I can't wait wind up, start dragging

0:46:40.360 --> 0:46:43.480
<v Speaker 2>at nine o'clock in the morning. That is fan flippantastic

0:46:43.560 --> 0:46:45.359
<v Speaker 2>right there, and I'm right there with you too. So

0:46:45.719 --> 0:46:47.760
<v Speaker 2>we'll be live all day long, taking new first pitch

0:46:47.840 --> 0:46:49.000
<v Speaker 2>at four to ten here on the Home of the

0:46:49.040 --> 0:46:52.640
<v Speaker 2>Red seven hundred ww as. The Boston Red Sox are

0:46:52.640 --> 0:46:56.440
<v Speaker 2>in town and they will travel well. And if you

0:46:56.440 --> 0:46:58.239
<v Speaker 2>think the price of admission is too high you can't

0:46:58.239 --> 0:47:01.000
<v Speaker 2>get a ticket, just wait a day, wait till Friday,

0:47:01.040 --> 0:47:05.080
<v Speaker 2>because it'll be immeasurably cheaper. We go nuts for opening day.

0:47:05.120 --> 0:47:06.560
<v Speaker 2>Now if the weather's bad, it all looks like it's

0:47:06.560 --> 0:47:08.759
<v Speaker 2>gonna be good, so we'll be fine. But typically you

0:47:08.760 --> 0:47:11.400
<v Speaker 2>have a little bit of rain or it's cold, you

0:47:11.560 --> 0:47:13.520
<v Speaker 2>start to thin up by like the fourth fifth inning

0:47:14.120 --> 0:47:17.480
<v Speaker 2>here in Cincinnati, Ohio. But good news is much cheaper

0:47:17.520 --> 0:47:20.120
<v Speaker 2>ticket and maybe better better conditions for the Don't forget

0:47:20.120 --> 0:47:22.799
<v Speaker 2>they play one hundred and sixty one games after this.

0:47:24.719 --> 0:47:26.960
<v Speaker 2>Are you prepared as well? They would say, are you prepared?

0:47:28.040 --> 0:47:30.399
<v Speaker 2>What is the biggest threat to our national security? Would

0:47:30.400 --> 0:47:32.480
<v Speaker 2>you say it is the border, which we've done a

0:47:32.520 --> 0:47:35.720
<v Speaker 2>great job closing to some degree, But would you agree

0:47:35.719 --> 0:47:38.279
<v Speaker 2>that that is the biggest threat to national security? I

0:47:38.280 --> 0:47:42.080
<v Speaker 2>would say, no is the biggest threat to our national security.

0:47:42.080 --> 0:47:45.200
<v Speaker 2>The straight of Hormuz gas prices, and in particular Iran.

0:47:46.160 --> 0:47:49.200
<v Speaker 2>I would say no is the biggest threat to our

0:47:49.320 --> 0:47:53.280
<v Speaker 2>national security. Our debt, that's a bingo.

0:47:54.800 --> 0:47:55.239
<v Speaker 4>Right now.

0:47:55.239 --> 0:47:59.040
<v Speaker 2>We have surpassed the thirty eight trillion dollar debt mark

0:47:59.120 --> 0:48:01.960
<v Speaker 2>in America. The debt expected to climb over fifty four

0:48:02.080 --> 0:48:05.560
<v Speaker 2>trillion over the next ten years. We're now in the

0:48:05.640 --> 0:48:08.200
<v Speaker 2>territory that we haven't seen since nineteen forty, since the

0:48:08.280 --> 0:48:11.160
<v Speaker 2>advent of World War Two. And meanwhile, debt held by

0:48:11.200 --> 0:48:13.960
<v Speaker 2>the public jumped from ninety nine percent of the GDP

0:48:14.120 --> 0:48:17.000
<v Speaker 2>to one hundred and sixteen percent of economic output is

0:48:17.040 --> 0:48:22.160
<v Speaker 2>the target for twenty thirty four, and almost three times

0:48:22.160 --> 0:48:25.799
<v Speaker 2>as high. They's tread an increase speaks volumes about how

0:48:25.840 --> 0:48:27.880
<v Speaker 2>quickly things are spiraling out of control. Talk about the

0:48:27.880 --> 0:48:31.440
<v Speaker 2>debt spiral before because there is a limit to how

0:48:31.480 --> 0:48:34.200
<v Speaker 2>much any debt a government can accumulate before a debt

0:48:34.239 --> 0:48:38.880
<v Speaker 2>spiral begins because the fear of default causes interest rates

0:48:38.880 --> 0:48:40.879
<v Speaker 2>to get higher and higher, which are trying to keep low,

0:48:41.680 --> 0:48:44.879
<v Speaker 2>and another interest rate cut coming. I believe we'll talk

0:48:44.880 --> 0:48:47.120
<v Speaker 2>to Andy Shaeffer about this coming up in about an hour,

0:48:47.360 --> 0:48:49.920
<v Speaker 2>but I think he's going to say, yeah, they paused,

0:48:49.960 --> 0:48:51.160
<v Speaker 2>but there's gonna be another one coming.

0:48:51.200 --> 0:48:53.640
<v Speaker 4>But they're going to pret sudents.

0:48:53.960 --> 0:48:56.440
<v Speaker 2>Interests are gonna start to go back up, which causes

0:48:56.520 --> 0:48:59.279
<v Speaker 2>higher deficits and more debt because you have to borrow

0:48:59.320 --> 0:49:01.439
<v Speaker 2>more money because you're paying higher interest rates. The interest

0:49:01.480 --> 0:49:03.640
<v Speaker 2>rates go up and you borrow more money, and that

0:49:03.800 --> 0:49:08.279
<v Speaker 2>is the debt spiral that we're facing right now. And

0:49:08.320 --> 0:49:11.640
<v Speaker 2>the big question is can we stomach what is going

0:49:11.680 --> 0:49:15.640
<v Speaker 2>to be needed to write the ship? And I say no,

0:49:15.680 --> 0:49:19.440
<v Speaker 2>not right now. Do you really want your taxes to

0:49:19.480 --> 0:49:21.440
<v Speaker 2>go up? Do you want to get less benefits and

0:49:21.480 --> 0:49:25.080
<v Speaker 2>pay more? No one does. And politicians know this, and

0:49:25.120 --> 0:49:29.200
<v Speaker 2>they're savvy, and that's why we've ignored this. The Treasury

0:49:29.360 --> 0:49:32.799
<v Speaker 2>just released their fiscal twenty twenty five report, not not

0:49:32.920 --> 0:49:40.080
<v Speaker 2>long ago, and we have six trillion dollars, just six

0:49:40.080 --> 0:49:43.120
<v Speaker 2>point six trillion, but six trillion and assets.

0:49:43.239 --> 0:49:44.440
<v Speaker 4>What are our liabilities?

0:49:44.480 --> 0:49:47.200
<v Speaker 2>Because if they teach you this in high school, you

0:49:47.280 --> 0:49:50.600
<v Speaker 2>have assets, which is the positive. You have liabilities, which

0:49:50.640 --> 0:49:53.960
<v Speaker 2>is a negative. And if your positives are more than

0:49:54.000 --> 0:49:56.400
<v Speaker 2>your negatives, you're in good shape. But if your negatives

0:49:56.520 --> 0:49:59.200
<v Speaker 2>are more than your positives, you ain't a good shape.

0:50:00.120 --> 0:50:06.440
<v Speaker 2>Six trillion on assets, forty eight trillion in liabilities. Let

0:50:06.440 --> 0:50:10.319
<v Speaker 2>me say that again in a different way. We are

0:50:10.400 --> 0:50:14.200
<v Speaker 2>negative forty one point seven two trillion right now, and

0:50:14.200 --> 0:50:16.640
<v Speaker 2>that's up a couple trillion for in the whole winter

0:50:16.600 --> 0:50:19.680
<v Speaker 2>a year ago. And that doesn't include things like Social Security.

0:50:19.840 --> 0:50:23.480
<v Speaker 2>That doesn't include Medicare. Those are funded obligations, those are

0:50:23.480 --> 0:50:26.719
<v Speaker 2>tracked separately. Those jumped over ten trillion dollars in a

0:50:26.760 --> 0:50:31.279
<v Speaker 2>single year. Medicare Part B alone accounts for almost seven

0:50:31.320 --> 0:50:34.680
<v Speaker 2>trillion of the surge. He added all together one hundred

0:50:34.719 --> 0:50:37.680
<v Speaker 2>and thirty six trillion in total federal obligations. That's five

0:50:37.840 --> 0:50:41.120
<v Speaker 2>times I said, five times the size of the entire

0:50:41.320 --> 0:50:47.719
<v Speaker 2>US economy. So the analogy was like, is okay, I

0:50:47.760 --> 0:50:49.040
<v Speaker 2>don't understand these number.

0:50:49.360 --> 0:50:51.120
<v Speaker 4>I don't understand I don't know trillions. I don't know

0:50:51.120 --> 0:50:52.840
<v Speaker 4>how many zeros. That is I don't know.

0:50:52.880 --> 0:50:54.040
<v Speaker 2>I know, that's a hell of a lot of money.

0:50:54.640 --> 0:50:56.759
<v Speaker 2>That's that's actually beyond a hell of it. Here's a

0:50:56.760 --> 0:50:58.000
<v Speaker 2>hell of a lot of money.

0:50:57.960 --> 0:51:00.759
<v Speaker 1>And away over here.

0:51:00.800 --> 0:51:02.920
<v Speaker 2>When it comes to the deficit, I don't even know

0:51:02.920 --> 0:51:07.040
<v Speaker 2>how to count that high. But from an analogy standpoint,

0:51:07.480 --> 0:51:11.640
<v Speaker 2>to make it about your household, take eight zeros, take

0:51:11.640 --> 0:51:14.760
<v Speaker 2>away eight zeros to turn federal finances into household budget.

0:51:14.880 --> 0:51:16.680
<v Speaker 2>So just take the zeros all out of this. So

0:51:16.760 --> 0:51:20.160
<v Speaker 2>if you earn fifty two thousand dollars, your household is

0:51:20.160 --> 0:51:24.440
<v Speaker 2>spending seventy three thousand, which means you're running up twenty

0:51:24.520 --> 0:51:27.480
<v Speaker 2>thousand dollars in new debt every year, and you're now

0:51:27.520 --> 0:51:31.880
<v Speaker 2>currently one point three million underwater. That's uncle Sam, that's

0:51:31.920 --> 0:51:33.640
<v Speaker 2>how we bid. Just take all those zeros off, and

0:51:33.640 --> 0:51:35.920
<v Speaker 2>that's if you ran your household that way. I'm making

0:51:35.960 --> 0:51:39.040
<v Speaker 2>fifty two, I'm spending seventy three. That's a deficit of

0:51:39.040 --> 0:51:41.640
<v Speaker 2>twenty thousand dollars every year. And now it's gone on

0:51:41.680 --> 0:51:43.839
<v Speaker 2>so long, we're about a million three underwater. Might as

0:51:43.840 --> 0:51:46.239
<v Speaker 2>well just keep spending into oblivion here. The only thing

0:51:46.320 --> 0:51:49.440
<v Speaker 2>is you can declare bankruptcy. We really can't do that.

0:51:50.920 --> 0:51:55.200
<v Speaker 2>We really can't do that, and we can't really even

0:51:55.239 --> 0:51:57.480
<v Speaker 2>tell you if the books are accurate, partly because well,

0:51:57.480 --> 0:52:00.880
<v Speaker 2>things like the Pentagon, their finances are a mess, and

0:52:00.920 --> 0:52:05.399
<v Speaker 2>that is a substantial amount of our federal deficit. And

0:52:05.480 --> 0:52:08.080
<v Speaker 2>we're you know, there's two bills to address this right now.

0:52:08.080 --> 0:52:11.200
<v Speaker 2>There's the Federal Commission Act that would force a public

0:52:11.239 --> 0:52:14.239
<v Speaker 2>reckoning with hard choices on taxes and spending. There's one

0:52:15.160 --> 0:52:18.759
<v Speaker 2>a resolution in the House. Another one that calls for

0:52:19.120 --> 0:52:23.080
<v Speaker 2>a constitutional convention to propose a balanced budget amendment modeled

0:52:23.120 --> 0:52:25.000
<v Speaker 2>on Switzerland. Some I'm called the debt break because they're

0:52:25.040 --> 0:52:28.320
<v Speaker 2>in trouble, but the numbers are real. The financial report

0:52:28.520 --> 0:52:30.840
<v Speaker 2>was released just a few days ago by the Treasury

0:52:31.360 --> 0:52:34.200
<v Speaker 2>and it's six trillion in assets, forty seven point seven

0:52:34.280 --> 0:52:39.000
<v Speaker 2>eight liabilities. That is, by every measure, upside down. And

0:52:39.040 --> 0:52:40.560
<v Speaker 2>no one is talking about this. It's like, yeah, well

0:52:40.600 --> 0:52:42.800
<v Speaker 2>that's how we run the show here.

0:52:42.680 --> 0:52:43.200
<v Speaker 3>Are you?

0:52:43.280 --> 0:52:46.360
<v Speaker 2>Are you happy with that? I'm, for one, not happy

0:52:46.400 --> 0:52:49.840
<v Speaker 2>with it. I'm nervous about my future, but because I

0:52:49.920 --> 0:52:52.600
<v Speaker 2>plan to live another thirty years, planning on and actually

0:52:52.680 --> 0:52:54.680
<v Speaker 2>doing it are two different things. But I were about

0:52:54.719 --> 0:52:57.640
<v Speaker 2>my kids you probably write your kids, maybe grand kids

0:52:57.719 --> 0:53:02.160
<v Speaker 2>come along, something like that, and we just it's not sustainable. Now,

0:53:02.280 --> 0:53:06.160
<v Speaker 2>are we insolvent? America is a dead beat nation? We are,

0:53:06.280 --> 0:53:09.680
<v Speaker 2>but are we insolvent? And that's not what the Treasury

0:53:09.840 --> 0:53:12.320
<v Speaker 2>you just describe this therein report never uses this word.

0:53:13.000 --> 0:53:15.600
<v Speaker 2>And this is more like private sector insolvency, almost like

0:53:15.600 --> 0:53:16.680
<v Speaker 2>the household analogy.

0:53:16.719 --> 0:53:19.560
<v Speaker 4>I just gave you the key distinction.

0:53:19.600 --> 0:53:23.000
<v Speaker 2>There is like a company the US can taxi can borrow,

0:53:23.080 --> 0:53:24.520
<v Speaker 2>you know, the US we can borrow against our own

0:53:24.560 --> 0:53:27.960
<v Speaker 2>currency and theoretically print money. It doesn't mean that the

0:53:28.120 --> 0:53:30.920
<v Speaker 2>trajectory isn't alarming. It is, but you know, calling it insolvent,

0:53:31.000 --> 0:53:34.600
<v Speaker 2>someone saying we're insolvent, it's okay, that's I think flame

0:53:34.640 --> 0:53:36.279
<v Speaker 2>it a little bit here. But you know, if we're

0:53:36.320 --> 0:53:38.279
<v Speaker 2>over the topic, call it we're insolvent. We're dead beats.

0:53:38.320 --> 0:53:39.160
<v Speaker 4>We count are.

0:53:40.800 --> 0:53:43.760
<v Speaker 2>You know we're burning through a trillion dollars every five months.

0:53:43.760 --> 0:53:48.040
<v Speaker 2>That's twice the historic pace, and that should be disturbing

0:53:48.040 --> 0:53:50.879
<v Speaker 2>to anyone listening, regardless of who you voted or didn't

0:53:50.920 --> 0:53:54.800
<v Speaker 2>vote for. So roughly that's almost four hundred thousand dollars

0:53:54.840 --> 0:53:59.800
<v Speaker 2>per American or more than four hundred thousand dollars per American. Actually,

0:54:00.680 --> 0:54:03.640
<v Speaker 2>if you do it, I mean close enough, right, so

0:54:03.719 --> 0:54:07.279
<v Speaker 2>your your original sin is four hundred thousand dollars. You know,

0:54:07.320 --> 0:54:09.480
<v Speaker 2>it wasn't that long ago. We forgot about that. Moody's

0:54:10.239 --> 0:54:15.960
<v Speaker 2>downgraded the United States because of our spending. Big beautiful

0:54:15.960 --> 0:54:19.680
<v Speaker 2>bill came along and it drove the deficit even higher.

0:54:19.680 --> 0:54:21.359
<v Speaker 2>What happened to doze, by the way, how did that

0:54:21.400 --> 0:54:25.080
<v Speaker 2>work out? Did nothing? This is a crisis. Is a

0:54:25.080 --> 0:54:28.279
<v Speaker 2>crisis for Republicans. This is a crisis for Democrats and

0:54:28.280 --> 0:54:30.960
<v Speaker 2>independents and Libertarians and Green Party whomever, whatever it is

0:54:31.000 --> 0:54:32.439
<v Speaker 2>you believe in or don't believe. And it's a problem

0:54:32.520 --> 0:54:35.680
<v Speaker 2>for all of us. And all those entsies, particularly the

0:54:35.760 --> 0:54:38.120
<v Speaker 2>Democrats and Republicans, got us to where we are right now.

0:54:38.120 --> 0:54:40.600
<v Speaker 2>We're not holding their feet to the fire. And there's

0:54:40.640 --> 0:54:42.839
<v Speaker 2>going to be a reckoning coming up. And we talk

0:54:42.880 --> 0:54:45.400
<v Speaker 2>about this all the time. The reckoning is going to

0:54:45.400 --> 0:54:47.960
<v Speaker 2>be if we get flipped around, if we get upside

0:54:47.960 --> 0:54:50.600
<v Speaker 2>down and the interest rates start going up up and up,

0:54:50.600 --> 0:54:52.120
<v Speaker 2>and we have to borrow more money just to keep

0:54:52.160 --> 0:54:54.720
<v Speaker 2>the lights on. I mean, we saw what the EU

0:54:54.760 --> 0:54:57.120
<v Speaker 2>went through. Certain nations. We've seen other nations go on.

0:54:58.400 --> 0:55:00.280
<v Speaker 2>It is going to be a crisis of magnitude because

0:55:00.320 --> 0:55:03.000
<v Speaker 2>we are, of course, we're the world economy in the

0:55:03.080 --> 0:55:05.200
<v Speaker 2>United States of America. And as you'll hear from Andy

0:55:05.200 --> 0:55:07.560
<v Speaker 2>Schaeffer at eleven thirty five, if you look at the

0:55:07.560 --> 0:55:10.600
<v Speaker 2>economy's doing pretty well right now. But even Wall Street

0:55:10.600 --> 0:55:14.520
<v Speaker 2>has ignored the debt bump issue entirely. We're not buying

0:55:14.560 --> 0:55:16.840
<v Speaker 2>our debt to keep our interests at low. Inflation is

0:55:17.080 --> 0:55:18.799
<v Speaker 2>going to be what it is in the future. It's

0:55:18.840 --> 0:55:20.919
<v Speaker 2>going to go up because the central banks people won't

0:55:20.920 --> 0:55:23.400
<v Speaker 2>be buying our debt anymore. It's over a trillion dollars

0:55:23.440 --> 0:55:26.000
<v Speaker 2>in debt. Service, Medicare is up there. Defense is a

0:55:26.040 --> 0:55:30.560
<v Speaker 2>trillion dollars a trillion. We're not gonna get real we

0:55:30.600 --> 0:55:32.279
<v Speaker 2>need defense, but you know, do we need things like

0:55:32.320 --> 0:55:35.400
<v Speaker 2>a golden dome? And look how much money another two

0:55:35.480 --> 0:55:39.279
<v Speaker 2>hundred billion for Iran that apparently I guess a few

0:55:39.320 --> 0:55:42.160
<v Speaker 2>days ago is wiped out. But now we're negotiating with

0:55:42.200 --> 0:55:44.280
<v Speaker 2>them like we're not getting a straight story to Washington.

0:55:44.360 --> 0:55:44.960
<v Speaker 4>Is a problem.

0:55:46.000 --> 0:55:49.560
<v Speaker 2>Veterans, benefits and services, those are things that I'm not

0:55:49.560 --> 0:55:52.800
<v Speaker 2>saying so just as we are. But you talk about Medicare, defense,

0:55:52.880 --> 0:55:57.279
<v Speaker 2>veterans benefits, debt service, those things are fixed. We can't

0:55:57.320 --> 0:56:00.440
<v Speaker 2>change those, and those are supposed to Well, we're gon

0:56:00.600 --> 0:56:03.920
<v Speaker 2>we're gonna change everything with Doge didn't change anything. It's

0:56:03.920 --> 0:56:06.520
<v Speaker 2>about what six percent of the deficit, and we're already

0:56:06.520 --> 0:56:09.840
<v Speaker 2>burned through that money. So this is a crisis that

0:56:09.880 --> 0:56:11.600
<v Speaker 2>at some point it is going to have to be

0:56:11.640 --> 0:56:13.879
<v Speaker 2>addressed in Congress. It's going to happen sooner rather than later.

0:56:13.920 --> 0:56:17.120
<v Speaker 2>But is it astounding to you that we have largely

0:56:17.120 --> 0:56:20.319
<v Speaker 2>become insolvent for lack of better terms, are completely upside down?

0:56:20.760 --> 0:56:23.480
<v Speaker 2>And this report was issued three days ago, and I

0:56:23.480 --> 0:56:27.640
<v Speaker 2>think I'm the only one talking about it. You know,

0:56:27.760 --> 0:56:29.600
<v Speaker 2>I don't know if you ignore it, does it just go?

0:56:29.680 --> 0:56:29.839
<v Speaker 6>Wait?

0:56:29.840 --> 0:56:32.400
<v Speaker 2>How does that usually work? No one wants to hear

0:56:32.400 --> 0:56:34.080
<v Speaker 2>about this. No one wants to go, well, okay, what's

0:56:34.080 --> 0:56:37.719
<v Speaker 2>your solution, smart ass? Well, the solution to be we're

0:56:37.760 --> 0:56:39.600
<v Speaker 2>going to have to figure out what to cut. There's

0:56:39.600 --> 0:56:42.879
<v Speaker 2>going to have to be some some tests for retire reason. God,

0:56:42.920 --> 0:56:45.160
<v Speaker 2>you know, we run commercials all the time about protecting

0:56:45.200 --> 0:56:47.840
<v Speaker 2>your social security and like aus, what that's going to

0:56:47.880 --> 0:56:50.680
<v Speaker 2>have to be on the table all of those entitlement programs,

0:56:50.680 --> 0:56:53.320
<v Speaker 2>and they are entitlement programs. No, no, they're not intolments.

0:56:53.360 --> 0:56:56.399
<v Speaker 2>I work for that right something you're entitled too as

0:56:56.440 --> 0:56:58.239
<v Speaker 2>I am. I'm getting to that age or I got

0:56:58.239 --> 0:57:00.440
<v Speaker 2>to start looking at this stuff is going to be

0:57:00.480 --> 0:57:02.640
<v Speaker 2>available and what's got to go away? How do we

0:57:02.719 --> 0:57:04.279
<v Speaker 2>how do we cut spending. It's got to come from

0:57:04.320 --> 0:57:07.680
<v Speaker 2>all ears. It's got to come from and Totnement's got

0:57:07.680 --> 0:57:10.640
<v Speaker 2>to come from defense, it's got to come from medicare

0:57:10.760 --> 0:57:13.239
<v Speaker 2>all these things, and we're going to pay more and

0:57:13.280 --> 0:57:13.840
<v Speaker 2>get less.

0:57:13.880 --> 0:57:14.840
<v Speaker 4>And that's the reality.

0:57:14.920 --> 0:57:17.600
<v Speaker 2>I think the future of the definition of a patriot

0:57:18.120 --> 0:57:19.560
<v Speaker 2>is not going to be someone who's wearing a tri

0:57:19.720 --> 0:57:23.280
<v Speaker 2>cornered hat and we the People T shirt or having

0:57:23.320 --> 0:57:25.920
<v Speaker 2>a million bumper stickers about the environment and other things

0:57:25.920 --> 0:57:28.360
<v Speaker 2>in the back of your volvo. What it's going to

0:57:28.400 --> 0:57:30.000
<v Speaker 2>be is people going, Okay, I got to pay more

0:57:30.000 --> 0:57:32.800
<v Speaker 2>and get less. To me, that that's what patriots in

0:57:32.800 --> 0:57:35.200
<v Speaker 2>the future going to be. It's an economic patriot. There's

0:57:35.200 --> 0:57:37.840
<v Speaker 2>just no two ways about it. We're spending like drunk

0:57:37.880 --> 0:57:40.600
<v Speaker 2>sailors and no one's At some time the chairs are

0:57:40.600 --> 0:57:41.880
<v Speaker 2>going to the music and the stop and I'm gonna

0:57:41.880 --> 0:57:43.680
<v Speaker 2>be all that chair is the problem here? How they

0:57:43.760 --> 0:57:46.080
<v Speaker 2>get to Mary Mountain Richard on Scotsland Show, Good Morning,

0:57:46.120 --> 0:57:47.240
<v Speaker 2>How are you.

0:57:47.080 --> 0:57:48.560
<v Speaker 10>Ye, Scott guye to talk to you?

0:57:49.080 --> 0:57:49.920
<v Speaker 4>Thanks for checking in.

0:57:50.680 --> 0:57:51.160
<v Speaker 10>I wouldn't.

0:57:51.280 --> 0:57:51.960
<v Speaker 3>I don't know.

0:57:52.200 --> 0:57:54.880
<v Speaker 10>I just hate to disagree with you, but I don't

0:57:54.920 --> 0:57:58.440
<v Speaker 10>think the national debt is our biggest national security issue,

0:57:59.120 --> 0:58:02.200
<v Speaker 10>mainly because maybe because when you have there is no

0:58:02.320 --> 0:58:05.000
<v Speaker 10>real national debt. We issue debt in our own currency.

0:58:05.040 --> 0:58:08.240
<v Speaker 10>The US government can never go bankrupt. I got to

0:58:08.280 --> 0:58:11.400
<v Speaker 10>ask you one question, who are we in debt too? Banks?

0:58:11.840 --> 0:58:14.520
<v Speaker 10>What do they use our currency that our Treasury department?

0:58:14.560 --> 0:58:17.000
<v Speaker 2>Well, I would say the banks, but who's who's controlling

0:58:17.080 --> 0:58:18.840
<v Speaker 2>that debt? It'd be countries like China.

0:58:20.160 --> 0:58:22.640
<v Speaker 10>China. Well, we just don't pay China, we.

0:58:24.280 --> 0:58:26.520
<v Speaker 4>Don't have okay, So what does that do then? Okay?

0:58:26.560 --> 0:58:28.680
<v Speaker 2>So but then we still have to borrow money, right?

0:58:28.720 --> 0:58:29.960
<v Speaker 2>What will that do to the interest?

0:58:30.000 --> 0:58:32.000
<v Speaker 10>We don't have to borrow money, and we can create it.

0:58:32.040 --> 0:58:34.960
<v Speaker 10>We create our own currency. If you if you were

0:58:35.080 --> 0:58:37.960
<v Speaker 10>your kitchen table and you're you're paying your bills, you

0:58:38.040 --> 0:58:40.440
<v Speaker 10>have to pay your bills. You cannot create your own currency.

0:58:40.440 --> 0:58:43.000
<v Speaker 2>I understand that we have that we have the ability

0:58:43.040 --> 0:58:44.880
<v Speaker 2>to print money, which we have, but the problem is this,

0:58:45.000 --> 0:58:47.120
<v Speaker 2>the more you print, the more it devalues the face

0:58:47.120 --> 0:58:50.120
<v Speaker 2>of that currency. Now where the world currency reserve? What

0:58:50.280 --> 0:58:53.360
<v Speaker 2>happens when we get to the point where where there's

0:58:53.400 --> 0:58:56.200
<v Speaker 2>a stronger economy, and you know, there's there's always been

0:58:56.240 --> 0:59:00.240
<v Speaker 2>a fight like, well, the greenback is the current world

0:59:00.240 --> 0:59:02.880
<v Speaker 2>reserve currency.

0:59:02.920 --> 0:59:05.080
<v Speaker 4>If this keeps up, it's not going to be in

0:59:05.120 --> 0:59:05.560
<v Speaker 4>the future.

0:59:07.000 --> 0:59:10.600
<v Speaker 10>US economy is by far the world's biggest, no question

0:59:12.040 --> 0:59:15.040
<v Speaker 10>that there. There is nobody that's even close to it.

0:59:15.080 --> 0:59:17.240
<v Speaker 10>And if they don't want to do business with us,

0:59:17.640 --> 0:59:19.800
<v Speaker 10>then they're going to have a real problem. So there

0:59:19.840 --> 0:59:22.120
<v Speaker 10>you go. And if and if worst comes to words, okay,

0:59:22.320 --> 0:59:25.040
<v Speaker 10>we just an issue a new currency if we had to,

0:59:25.680 --> 0:59:28.400
<v Speaker 10>you know, you based on the amount of productivity in

0:59:28.440 --> 0:59:31.800
<v Speaker 10>your economy. There is no national debt. It's made up

0:59:32.000 --> 0:59:32.960
<v Speaker 10>and that's a made up thing.

0:59:33.040 --> 0:59:36.080
<v Speaker 2>Got so so so anyway, but we all agree on

0:59:36.120 --> 0:59:38.040
<v Speaker 2>this that the interest rates will go up.

0:59:38.040 --> 0:59:41.640
<v Speaker 10>Correct, they could do that, But we can also create

0:59:41.680 --> 0:59:44.919
<v Speaker 10>a new currency. Sure, Department and in Control.

0:59:44.720 --> 0:59:47.880
<v Speaker 2>America can do that. But what about the companies? All

0:59:47.920 --> 0:59:51.440
<v Speaker 2>this this economic engine of America. The companies that borrow money,

0:59:51.440 --> 0:59:52.680
<v Speaker 2>what about their interest rates?

0:59:53.320 --> 0:59:56.280
<v Speaker 10>Their interest rates? We can create a new currency. Well,

0:59:56.280 --> 0:59:57.960
<v Speaker 10>so we can set it up. We don't have to

0:59:58.080 --> 1:00:02.160
<v Speaker 10>have We are not we're not beholden to big banks

1:00:02.320 --> 1:00:04.880
<v Speaker 10>if we don't want to be. We can create our

1:00:04.880 --> 1:00:07.800
<v Speaker 10>own currency based on the size of our economy if

1:00:07.800 --> 1:00:10.760
<v Speaker 10>we want to. There is no national debt. It's a

1:00:10.800 --> 1:00:13.520
<v Speaker 10>made up thing. And you know we can agree to

1:00:13.520 --> 1:00:14.160
<v Speaker 10>disagree on.

1:00:14.120 --> 1:00:17.280
<v Speaker 2>Yeah, sure, sure, sure, But the solution is, like we

1:00:17.640 --> 1:00:19.080
<v Speaker 2>did what that point.

1:00:19.360 --> 1:00:22.400
<v Speaker 10>You have a point about printing too much money. You

1:00:22.400 --> 1:00:25.880
<v Speaker 10>can't just willing really do that because it will create inflation.

1:00:26.000 --> 1:00:28.320
<v Speaker 10>You are correct on that, but we have the ability

1:00:28.360 --> 1:00:29.160
<v Speaker 10>to control that.

1:00:30.400 --> 1:00:30.600
<v Speaker 3>You know.

1:00:30.760 --> 1:00:33.040
<v Speaker 2>So, but that but that obligation, I guess I'll let

1:00:33.040 --> 1:00:35.120
<v Speaker 2>you go because I got some other clulture. That obligation

1:00:35.240 --> 1:00:37.800
<v Speaker 2>doesn't go away. You know, you're saying, Okay, we replaced

1:00:37.800 --> 1:00:40.440
<v Speaker 2>a dollar with a new national currency or digital dollar,

1:00:40.720 --> 1:00:43.960
<v Speaker 2>whatever it is. There's shock waves from that. You know,

1:00:44.000 --> 1:00:46.160
<v Speaker 2>we've got the thirty eight trillion dollars debt crisis. But

1:00:46.280 --> 1:00:49.360
<v Speaker 2>then you're talking about that transition, which I don't trust

1:00:49.400 --> 1:00:52.760
<v Speaker 2>the government to do. Now you're talking about hyper inflation.

1:00:52.880 --> 1:00:55.880
<v Speaker 2>It could wipe savings out overnight that happened in Argentina

1:00:55.960 --> 1:00:59.720
<v Speaker 2>for example, and the collapse of the preserve currency are

1:00:59.760 --> 1:01:02.120
<v Speaker 2>held in the US dollars. A switch would destabilize the

1:01:02.160 --> 1:01:06.800
<v Speaker 2>central banks worldwide in the crash would I mean, I

1:01:06.800 --> 1:01:09.560
<v Speaker 2>think it'd be an implosion, is what it is. It

1:01:09.720 --> 1:01:11.880
<v Speaker 2>just I don't think your arguing makes sense to me anyway.

1:01:11.920 --> 1:01:14.280
<v Speaker 2>Maybe somebody does, but I appreciate the debate. I got

1:01:14.280 --> 1:01:16.120
<v Speaker 2>to get a news update in we're running little bit late.

1:01:16.200 --> 1:01:18.480
<v Speaker 2>News is coming up in about seven minutes here. And

1:01:18.520 --> 1:01:21.320
<v Speaker 2>then Greg lost them from Buckeye. Well they took oh yesterday,

1:01:21.320 --> 1:01:24.400
<v Speaker 2>they took away your THG beverages. Now they want to

1:01:24.440 --> 1:01:29.120
<v Speaker 2>take away more of your money from your house. In

1:01:29.240 --> 1:01:32.560
<v Speaker 2>light of all of the property taxes you're paying, Ohio,

1:01:32.640 --> 1:01:36.000
<v Speaker 2>they want another tax on what you do in your house.

1:01:36.040 --> 1:01:37.960
<v Speaker 4>We'll explain next on the big one. Hang on, I

1:01:38.160 --> 1:01:38.520
<v Speaker 4>want to.

1:01:38.480 --> 1:01:42.960
<v Speaker 1>Be an American idiot. He's got on seven hundred WW.

1:01:43.080 --> 1:01:46.040
<v Speaker 7>So what's sustainable Ohio taking away from you today?

1:01:47.600 --> 1:01:51.480
<v Speaker 2>Yesterday it was THC drinks, you know, because that's killed

1:01:51.480 --> 1:01:54.760
<v Speaker 2>in a lot of people share today. How about some

1:01:54.840 --> 1:01:58.240
<v Speaker 2>higher taxes are you a fan of higher taxes. I'm

1:01:58.280 --> 1:02:02.160
<v Speaker 2>a big fan of higher taxes. Oh, the Ohio legislature,

1:02:02.200 --> 1:02:05.240
<v Speaker 2>the General Assembly is moving to tax you, mister and

1:02:05.280 --> 1:02:08.120
<v Speaker 2>missus homeowner if you decide that you're going to rent

1:02:08.160 --> 1:02:12.920
<v Speaker 2>out your home like Airbnb or verbo for a few days.

1:02:13.920 --> 1:02:16.520
<v Speaker 2>Seems to me like a raw deal. You know, new taxes.

1:02:16.560 --> 1:02:19.480
<v Speaker 2>There's no protections in here. Local governments can still ban

1:02:19.560 --> 1:02:23.120
<v Speaker 2>you from doinging entirely. Doesn't feel like free enterprise to me.

1:02:23.280 --> 1:02:25.520
<v Speaker 2>Joining the show from the Buckeye Institute in Columbus is

1:02:25.560 --> 1:02:26.720
<v Speaker 2>Greg Laws and Greg.

1:02:26.480 --> 1:02:28.919
<v Speaker 6>Welcome, thanks for having me on.

1:02:29.760 --> 1:02:30.919
<v Speaker 4>We have this, as you.

1:02:30.800 --> 1:02:32.880
<v Speaker 2>Know, being in Ohio, you know we have this insane

1:02:32.920 --> 1:02:35.400
<v Speaker 2>property tax burden going on right now, some people paying

1:02:35.400 --> 1:02:37.960
<v Speaker 2>three hundred percent more property taxes. There's a move to

1:02:38.080 --> 1:02:43.120
<v Speaker 2>eliminate property taxes entirely. And now this is this a

1:02:43.160 --> 1:02:44.920
<v Speaker 2>good idea?

1:02:45.040 --> 1:02:47.400
<v Speaker 6>Well, it's certainly not a good idea to just tax people.

1:02:47.600 --> 1:02:52.000
<v Speaker 6>There's an argument that in some areas, some that don't

1:02:52.040 --> 1:02:55.080
<v Speaker 6>have like as many hotels, especially some rural areas, that

1:02:55.200 --> 1:02:58.120
<v Speaker 6>they that they still have what they call visitor and bureau.

1:02:59.040 --> 1:03:03.480
<v Speaker 6>Visitor bureau can into with tourism, that they that there

1:03:03.560 --> 1:03:05.840
<v Speaker 6>may be a need for something. But the concern we

1:03:05.920 --> 1:03:09.000
<v Speaker 6>have is that there are several bills out there, and

1:03:09.360 --> 1:03:13.320
<v Speaker 6>one of them, in particular, unfortunately, House Bill one sixty one,

1:03:13.480 --> 1:03:16.720
<v Speaker 6>is just a tax bill. It just applies the logic

1:03:16.800 --> 1:03:19.720
<v Speaker 6>tax to an Airbnb or verbo or any of these

1:03:19.720 --> 1:03:23.040
<v Speaker 6>short term rentals. But it does nothing about what is

1:03:23.080 --> 1:03:26.320
<v Speaker 6>a growing problem in Ohio, which is that local governments

1:03:26.320 --> 1:03:30.760
<v Speaker 6>are oftentimes preventing people from doing it. They're putting bands

1:03:31.000 --> 1:03:35.680
<v Speaker 6>on airbnbs and verbos. That's something that is happening under

1:03:35.680 --> 1:03:37.960
<v Speaker 6>the home rules stuff. I think we talked about home

1:03:37.960 --> 1:03:44.600
<v Speaker 6>earlier before, and we think that's a terrible situation. So

1:03:45.240 --> 1:03:47.160
<v Speaker 6>you know, I'll tell you this. You can't just flat

1:03:47.280 --> 1:03:50.960
<v Speaker 6>tax on something and then just give keep government with

1:03:51.000 --> 1:03:53.640
<v Speaker 6>the power to just continue to ban things. It really

1:03:53.680 --> 1:03:58.120
<v Speaker 6>is violating people's personal property rights. And we think that's

1:03:58.120 --> 1:03:58.880
<v Speaker 6>a bad idea.

1:03:59.000 --> 1:04:00.680
<v Speaker 2>Yeah, I guess you're a local minsipality. If you have

1:04:00.720 --> 1:04:02.960
<v Speaker 2>a problem with the your HOA can ban people from

1:04:02.960 --> 1:04:04.720
<v Speaker 2>doing that, and you sign your rights away when you

1:04:04.760 --> 1:04:06.920
<v Speaker 2>do that. You buy property there, here's the rules. You

1:04:06.960 --> 1:04:09.160
<v Speaker 2>want to move there or not. Okay, I can't buy

1:04:09.560 --> 1:04:12.480
<v Speaker 2>you know, I own rental property. There's someones I own

1:04:12.520 --> 1:04:14.520
<v Speaker 2>that are part of an hoa where you can't rent

1:04:14.520 --> 1:04:16.600
<v Speaker 2>them out. Okay, fine, great, but I knew that going

1:04:16.600 --> 1:04:19.000
<v Speaker 2>ahead of time, coming back and then taxing people for

1:04:19.040 --> 1:04:22.280
<v Speaker 2>something they're already paying taxes on seems criminal to me.

1:04:22.360 --> 1:04:24.920
<v Speaker 2>You're already paying the property tax. I got to pay

1:04:24.920 --> 1:04:26.640
<v Speaker 2>you more tax because I'm renting it out.

1:04:27.960 --> 1:04:32.240
<v Speaker 6>Well, the argument is that you have hotels that already

1:04:32.240 --> 1:04:34.440
<v Speaker 6>have these taxes that are apply to them. I and

1:04:34.480 --> 1:04:37.560
<v Speaker 6>the hotels have have for a long time made the

1:04:37.600 --> 1:04:40.640
<v Speaker 6>case that with the advent of all these new things

1:04:40.640 --> 1:04:45.480
<v Speaker 6>short term rentals, that they're being taxed, but that's essentially

1:04:45.840 --> 1:04:49.720
<v Speaker 6>an unfair competition, and that it's making sure that they

1:04:49.720 --> 1:04:52.240
<v Speaker 6>don't have the revenue to go back into again some

1:04:52.320 --> 1:04:55.880
<v Speaker 6>of these various marketing pages and stuff that happens in

1:04:55.920 --> 1:04:59.320
<v Speaker 6>different counties for tourism. So that's the argument that's there.

1:05:00.000 --> 1:05:03.160
<v Speaker 6>And you know, first of all, we don't like new taxes, guys.

1:05:03.280 --> 1:05:07.280
<v Speaker 6>It's always been against new taxes. But what I testified

1:05:07.600 --> 1:05:10.360
<v Speaker 6>last week to a committee on this in the Ohio

1:05:10.360 --> 1:05:14.160
<v Speaker 6>House Representatives, the argument that we made is we certainly

1:05:14.200 --> 1:05:16.200
<v Speaker 6>don't like taxes if you're not going to make sure

1:05:16.240 --> 1:05:18.600
<v Speaker 6>that people are protected. And I think this is the

1:05:18.680 --> 1:05:21.040
<v Speaker 6>thing that it's so to me, we just about what's

1:05:21.040 --> 1:05:25.520
<v Speaker 6>happening across the high most governments is these bands. I

1:05:25.640 --> 1:05:27.960
<v Speaker 6>get people are worried about having a party house in

1:05:27.960 --> 1:05:32.120
<v Speaker 6>their neighborhoods that isn't under control, And there's several things

1:05:31.640 --> 1:05:34.240
<v Speaker 6>that deal with this. First of all, you can still

1:05:34.240 --> 1:05:37.160
<v Speaker 6>have and should still be able to have local nuisance

1:05:37.240 --> 1:05:39.640
<v Speaker 6>laws and things like that. If people are doing crazy

1:05:39.680 --> 1:05:43.640
<v Speaker 6>stuff or you know, having animal house happening and then

1:05:43.800 --> 1:05:46.360
<v Speaker 6>you know next door to you, you know, there's ways

1:05:46.360 --> 1:05:50.400
<v Speaker 6>to address it. By the way, folks like Airbnb have

1:05:50.560 --> 1:05:53.800
<v Speaker 6>policies for the platform where if you start doing things

1:05:53.840 --> 1:05:56.000
<v Speaker 6>like that, you're rinning it out and you really maybe

1:05:56.000 --> 1:05:57.400
<v Speaker 6>one time you can get away that, but you know,

1:05:57.440 --> 1:05:59.200
<v Speaker 6>it's like I think it's like a three times and

1:05:59.240 --> 1:06:01.400
<v Speaker 6>you're out sort of thing, right where if this is

1:06:01.440 --> 1:06:04.280
<v Speaker 6>a recurring pattern and you're not taking responsibility in your

1:06:04.320 --> 1:06:07.680
<v Speaker 6>neighborhood with your property, they can't use their platform anymore

1:06:07.760 --> 1:06:11.560
<v Speaker 6>to rent it out. Yeah, so we have protections for people.

1:06:12.320 --> 1:06:15.120
<v Speaker 6>We shouldn't be banning them. We certainly shouldn't be taxing

1:06:15.160 --> 1:06:18.160
<v Speaker 6>people and then not guaranteeing that you still can have

1:06:18.200 --> 1:06:20.120
<v Speaker 6>the right to do what you want to with hero.

1:06:20.040 --> 1:06:21.600
<v Speaker 2>From Yeah, I want to circle back on the zero

1:06:21.680 --> 1:06:24.320
<v Speaker 2>protections argument that you made there, Greg Lawson, and I

1:06:24.320 --> 1:06:26.920
<v Speaker 2>think that's true. You know, we have nuisance laws in Cincinnati,

1:06:26.960 --> 1:06:28.560
<v Speaker 2>and I could never figure this out. Is if you

1:06:28.560 --> 1:06:30.680
<v Speaker 2>own property in Cincinnati and you rent it out and

1:06:30.760 --> 1:06:34.280
<v Speaker 2>people are you know, either Airbnb or verbal or just

1:06:34.400 --> 1:06:37.160
<v Speaker 2>rental just you know, regular rental, long term ratl short tomorrow,

1:06:38.800 --> 1:06:41.600
<v Speaker 2>if those people are causing a problem and then you know,

1:06:41.800 --> 1:06:43.920
<v Speaker 2>causing the neighborhood, maybe racing up and down the street,

1:06:44.040 --> 1:06:45.960
<v Speaker 2>or there's trash all over the place, or playing in

1:06:46.040 --> 1:06:49.800
<v Speaker 2>loud music right their nuisance, the city of Cincinnati makes

1:06:49.840 --> 1:06:52.960
<v Speaker 2>somehow the landlord eventually responsible for that. Like no, if

1:06:53.000 --> 1:06:55.000
<v Speaker 2>you're an adult and you're renting property and you are

1:06:55.120 --> 1:06:58.960
<v Speaker 2>doing stuff like that, that that that's on the city,

1:06:59.000 --> 1:07:02.280
<v Speaker 2>that's on law enforce meant to cite that person. That

1:07:02.280 --> 1:07:04.360
<v Speaker 2>shouldn't be on the landlord. I mean, if they're in

1:07:04.400 --> 1:07:06.040
<v Speaker 2>there dealing drugs and I know about it, maybe a

1:07:06.080 --> 1:07:08.840
<v Speaker 2>different story. But if they're just a nuisance, that's the

1:07:08.880 --> 1:07:12.080
<v Speaker 2>individual's responsibility. I you know, I don't get a ticket,

1:07:12.440 --> 1:07:15.520
<v Speaker 2>speeding ticket because you know, my son uses my car,

1:07:15.600 --> 1:07:17.760
<v Speaker 2>let's say. And that was the argument with speed cameras obviously,

1:07:17.880 --> 1:07:20.320
<v Speaker 2>is you're citing me for something I can't control.

1:07:20.400 --> 1:07:22.120
<v Speaker 4>That's that's on them, give them the ticket.

1:07:23.400 --> 1:07:26.080
<v Speaker 6>We should the people who are doing the offense of people.

1:07:26.080 --> 1:07:28.200
<v Speaker 6>That should be right. Both that's the law and that's

1:07:28.240 --> 1:07:31.840
<v Speaker 6>exactly right. That's what should happen. Now if you're again

1:07:32.040 --> 1:07:34.440
<v Speaker 6>doing this on an ongoing basis where you're not taking

1:07:34.440 --> 1:07:36.480
<v Speaker 6>care to bet the people that you have coming in

1:07:36.840 --> 1:07:39.480
<v Speaker 6>and this isn't you know, an isolated incident that's happening

1:07:39.480 --> 1:07:41.400
<v Speaker 6>all the time. I think there may be a little

1:07:41.400 --> 1:07:43.160
<v Speaker 6>bit of a different argument there because at that point

1:07:43.240 --> 1:07:46.440
<v Speaker 6>you are sort of not taking the responsibility with your

1:07:46.440 --> 1:07:48.479
<v Speaker 6>own property at that point, and then you are having

1:07:48.480 --> 1:07:51.640
<v Speaker 6>an avergine impact from your neighbors and stuff. But the

1:07:51.720 --> 1:07:54.000
<v Speaker 6>point that it is disturbing about this is when when

1:07:54.000 --> 1:07:56.920
<v Speaker 6>you make these blanket terminations by the local governments just

1:07:56.960 --> 1:07:59.760
<v Speaker 6>not doing which is actually I think really remarkable, when

1:07:59.760 --> 1:08:02.880
<v Speaker 6>you because you make curlier we have this profit taxes

1:08:04.000 --> 1:08:07.320
<v Speaker 6>and we have local governments who should be scared quite

1:08:07.360 --> 1:08:09.960
<v Speaker 6>a bit about the prospects of that making the ballot.

1:08:10.200 --> 1:08:12.360
<v Speaker 6>Whether it does or not, nobody can say for sure

1:08:12.400 --> 1:08:15.040
<v Speaker 6>at this point because they haven't sumitted signatures for this

1:08:15.120 --> 1:08:18.519
<v Speaker 6>constitucial limit. But if that happens, you never believe they're

1:08:18.560 --> 1:08:20.200
<v Speaker 6>going to want to have some revenue. But you're gonna

1:08:20.200 --> 1:08:21.840
<v Speaker 6>have a hard time having revenue by the time you

1:08:21.840 --> 1:08:24.280
<v Speaker 6>start banning everybody from being able to do that thing. Yeah,

1:08:24.320 --> 1:08:27.040
<v Speaker 6>it just makes no sense from so many different perspectives. Well,

1:08:27.520 --> 1:08:27.840
<v Speaker 6>is it great?

1:08:27.840 --> 1:08:28.040
<v Speaker 1>Great?

1:08:28.040 --> 1:08:28.600
<v Speaker 4>Where does it end?

1:08:28.640 --> 1:08:30.760
<v Speaker 2>I mean, like, if I'm I use my house, let's say,

1:08:30.760 --> 1:08:32.760
<v Speaker 2>for my small business, do I have to pay an

1:08:32.760 --> 1:08:33.519
<v Speaker 2>extra tax there?

1:08:33.760 --> 1:08:34.120
<v Speaker 4>I don't know.

1:08:34.200 --> 1:08:37.559
<v Speaker 2>My spouse is really good makes sourd o bread and

1:08:37.640 --> 1:08:39.000
<v Speaker 2>she's selling some sourdough bread.

1:08:39.040 --> 1:08:39.400
<v Speaker 6>Do I have to?

1:08:39.680 --> 1:08:41.639
<v Speaker 2>I mean, where do I Wand with the taxation here,

1:08:41.680 --> 1:08:43.960
<v Speaker 2>I'm already paying the damn property taxes we're you're too

1:08:44.000 --> 1:08:46.599
<v Speaker 2>damn high, and now if I rent it out, I've

1:08:46.640 --> 1:08:50.320
<v Speaker 2>got to pay even more. You mentioned too zero protections

1:08:50.320 --> 1:08:52.880
<v Speaker 2>for the whole What does that mean the zero protection area.

1:08:53.080 --> 1:08:55.880
<v Speaker 6>Well, we're basically saying that people have the right to

1:08:55.880 --> 1:08:57.720
<v Speaker 6>be able to make decisions with what they want to

1:08:57.720 --> 1:09:00.519
<v Speaker 6>do with their property. Obviously, with the reason. You know,

1:09:00.640 --> 1:09:02.360
<v Speaker 6>you know, there are certain things where you can't let

1:09:02.360 --> 1:09:04.679
<v Speaker 6>your properly go to the hell and a hand askt

1:09:04.720 --> 1:09:08.040
<v Speaker 6>and stuff of that nature. But this whole notion, and

1:09:08.080 --> 1:09:11.559
<v Speaker 6>it's happening in jurisdiction after jurisdiction where they can come

1:09:11.600 --> 1:09:13.519
<v Speaker 6>in and stop it. And I harp on this point

1:09:13.560 --> 1:09:16.200
<v Speaker 6>because this is not isolating what this isn't one or

1:09:16.200 --> 1:09:18.799
<v Speaker 6>two jurisdictions, and it isn't just one or two places

1:09:18.840 --> 1:09:20.760
<v Speaker 6>in the state. It's really it's all over the state

1:09:20.920 --> 1:09:24.440
<v Speaker 6>the proportion, So it's not it's not just a regional phenomenon.

1:09:24.720 --> 1:09:26.320
<v Speaker 6>And this is the problem that I see, which is

1:09:26.400 --> 1:09:28.880
<v Speaker 6>local government, you know, kind of running them off with

1:09:28.920 --> 1:09:31.519
<v Speaker 6>these things. Yeah, it's a it's actually a much bigger issue.

1:09:31.520 --> 1:09:33.679
<v Speaker 6>I mean, there's there's a whole bunch of problems frankly

1:09:33.720 --> 1:09:36.559
<v Speaker 6>with local government and II and I think I've molmented

1:09:36.600 --> 1:09:39.080
<v Speaker 6>some of those in the past on your show, and

1:09:39.200 --> 1:09:40.200
<v Speaker 6>I probably will again.

1:09:41.479 --> 1:09:42.880
<v Speaker 4>We're on the same page.

1:09:43.280 --> 1:09:45.280
<v Speaker 6>And this is just one more example of it. So

1:09:45.760 --> 1:09:48.280
<v Speaker 6>you know, again, there's some bills that are out there,

1:09:48.320 --> 1:09:52.920
<v Speaker 6>by the way that would have some degree, would would

1:09:52.920 --> 1:09:56.000
<v Speaker 6>maybe do the tax, but would include prohibitions and preempt

1:09:56.040 --> 1:09:59.200
<v Speaker 6>local government from being able to do the banning of

1:09:59.479 --> 1:10:00.680
<v Speaker 6>the short term rentals.

1:10:01.160 --> 1:10:04.240
<v Speaker 4>How do how does the home rule apply there?

1:10:04.280 --> 1:10:07.519
<v Speaker 6>Though, well, I'm sure they'll sue uh and make an

1:10:07.600 --> 1:10:11.000
<v Speaker 6>argument that that's violation. But if it's written the right way,

1:10:11.479 --> 1:10:14.240
<v Speaker 6>the legislature does have the ability to write laws that

1:10:14.280 --> 1:10:18.360
<v Speaker 6>are of statewide applicability. Now that's a little sometimes it's

1:10:18.400 --> 1:10:20.160
<v Speaker 6>been in the eye of beholder, and there's been a

1:10:20.200 --> 1:10:23.439
<v Speaker 6>lot of push and pull, frankly, between the General Assembly

1:10:23.720 --> 1:10:27.880
<v Speaker 6>and local governments, especially in recent years, over many different things.

1:10:27.880 --> 1:10:31.160
<v Speaker 6>There's been second amendment to issues. There's been issues like

1:10:31.520 --> 1:10:35.560
<v Speaker 6>plastic bags, some jurisdictions way in the dand cracking and

1:10:35.840 --> 1:10:38.439
<v Speaker 6>so there's all these various things that happened. But we've

1:10:38.479 --> 1:10:40.680
<v Speaker 6>made the case of the buck ask that that the

1:10:40.680 --> 1:10:42.960
<v Speaker 6>General simply have the right to be able to do preemption,

1:10:43.520 --> 1:10:47.920
<v Speaker 6>because if you allow all these locals to prevent all

1:10:47.920 --> 1:10:50.439
<v Speaker 6>sorts of different active short term rentals, it's certainly one

1:10:50.439 --> 1:10:52.719
<v Speaker 6>of them. But you know, we're seeing this with data

1:10:52.760 --> 1:10:56.479
<v Speaker 6>centers too now coming out, so we're seeing a lot

1:10:56.520 --> 1:10:59.080
<v Speaker 6>of these things, and the General simply has acted in

1:10:59.120 --> 1:11:02.240
<v Speaker 6>the past to say no, you can't do that. They

1:11:02.439 --> 1:11:06.080
<v Speaker 6>and we think that under certain circumstances, that is an

1:11:06.080 --> 1:11:08.680
<v Speaker 6>appropriate thing, because what you end up with is you

1:11:08.800 --> 1:11:11.360
<v Speaker 6>end up with a you know, it's sort of a

1:11:11.400 --> 1:11:13.800
<v Speaker 6>little bit of a joke to say it this way,

1:11:13.800 --> 1:11:17.400
<v Speaker 6>but it's a crazy patchwork of different regulations and frusteristations.

1:11:17.640 --> 1:11:20.240
<v Speaker 6>But that makes it hard to do different things. And

1:11:20.400 --> 1:11:23.719
<v Speaker 6>it's one of the problems Ohio has, and at a

1:11:23.800 --> 1:11:26.439
<v Speaker 6>mid Western state issue in general, because of a sort

1:11:26.439 --> 1:11:28.880
<v Speaker 6>of the history there. But when you look at southern

1:11:28.880 --> 1:11:30.680
<v Speaker 6>states and you look at Western states, and you look

1:11:30.680 --> 1:11:33.320
<v Speaker 6>at states that are really growing with populations that are

1:11:33.560 --> 1:11:36.479
<v Speaker 6>really expanding. You know, you can talk about the weather

1:11:36.520 --> 1:11:39.160
<v Speaker 6>and stuff, and I'm sure that has some degree of influence,

1:11:39.640 --> 1:11:43.680
<v Speaker 6>but it's taxes, it's regulations, and Kino taxes and regulations

1:11:43.760 --> 1:11:46.479
<v Speaker 6>now are worse at the local level than they are

1:11:46.479 --> 1:11:49.040
<v Speaker 6>at the state level. Well, that is something that less

1:11:49.080 --> 1:11:49.800
<v Speaker 6>that you need to deal with.

1:11:49.880 --> 1:11:51.200
<v Speaker 4>Yeah, I mean, look look at it this way.

1:11:51.280 --> 1:11:55.080
<v Speaker 2>Kathy Hochell, governor in New York State, she went on Campaigtrios, said, hey, listen,

1:11:55.080 --> 1:11:56.840
<v Speaker 2>you know what, if you're a billionaire, if you've got

1:11:56.840 --> 1:11:59.519
<v Speaker 2>all this money, we don't want you here unless you're

1:11:59.520 --> 1:12:01.840
<v Speaker 2>going to pay your fair share. Well, guess what, I

1:12:01.920 --> 1:12:04.519
<v Speaker 2>just saw a study where a huge number of them

1:12:05.000 --> 1:12:08.600
<v Speaker 2>have moved to Texas, cal I think, Arizona, California, some

1:12:09.080 --> 1:12:11.680
<v Speaker 2>some of California, don't know why, but to Texas primarily.

1:12:11.760 --> 1:12:14.200
<v Speaker 2>And now she's she's begging those people to come back

1:12:15.120 --> 1:12:17.280
<v Speaker 2>because they you know, she guys said I'm gonna screw.

1:12:17.120 --> 1:12:18.760
<v Speaker 4>You when it comes to taxes. You should be paying

1:12:18.760 --> 1:12:19.240
<v Speaker 4>your fair share.

1:12:19.280 --> 1:12:24.000
<v Speaker 2>Well, guess what liberal Democrat or conservative Republican aside, they

1:12:24.000 --> 1:12:25.679
<v Speaker 2>all moved out of the state and now they don't

1:12:25.680 --> 1:12:27.720
<v Speaker 2>have enough money to pay for their what it is

1:12:27.760 --> 1:12:29.760
<v Speaker 2>they want to do, the same thing would apply here.

1:12:29.800 --> 1:12:33.559
<v Speaker 2>I mean Indiana, Florida and Arizona also do this as well,

1:12:33.560 --> 1:12:36.400
<v Speaker 2>where they blocked local short term rental bands. And Ohio

1:12:36.400 --> 1:12:38.280
<v Speaker 2>wants to be next. By the way, Greg Lawson's here

1:12:38.280 --> 1:12:41.680
<v Speaker 2>from Buckeye Institute in Columbus as the state of Ohio

1:12:42.120 --> 1:12:45.120
<v Speaker 2>yesterday took the THG drinks away today higher taxes a

1:12:45.200 --> 1:12:47.280
<v Speaker 2>top of the insane property tax were paying. Now, if

1:12:47.320 --> 1:12:48.880
<v Speaker 2>you want to rent out your home of the weekend

1:12:48.920 --> 1:12:52.240
<v Speaker 2>as someone, they want to tax you and there's no

1:12:52.320 --> 1:12:55.120
<v Speaker 2>protections there for you, basically meaning they're going to tax

1:12:55.160 --> 1:12:57.720
<v Speaker 2>the activity and not protect your right to do it.

1:12:58.640 --> 1:13:00.639
<v Speaker 2>And you know you could pay tax today and face

1:13:00.680 --> 1:13:03.400
<v Speaker 2>a local band tomorrow in your state or in your

1:13:03.439 --> 1:13:06.559
<v Speaker 2>township municipality. HOA is different because that's part of the

1:13:06.600 --> 1:13:09.679
<v Speaker 2>deal when you buy something in an HOA. But Greg Lawson,

1:13:10.040 --> 1:13:12.240
<v Speaker 2>I can't help but think back to all of these

1:13:12.640 --> 1:13:15.680
<v Speaker 2>seismic shifts, these change agents that happened in the world

1:13:16.880 --> 1:13:19.000
<v Speaker 2>back in the day when Uber and Lyft came along.

1:13:19.120 --> 1:13:21.519
<v Speaker 2>I remember tax I remember the cab drivers, Like at

1:13:21.680 --> 1:13:24.920
<v Speaker 2>CBG at the airport, we're up an arms saying wait, well,

1:13:24.960 --> 1:13:27.320
<v Speaker 2>hold on just a second. If you have these independent

1:13:27.360 --> 1:13:29.160
<v Speaker 2>people coming in not paying a tax, they're not paying

1:13:29.160 --> 1:13:32.880
<v Speaker 2>all these fees and fares, what about our They wanted

1:13:32.880 --> 1:13:34.479
<v Speaker 2>to protect their industry. I think the same thing is

1:13:34.479 --> 1:13:38.880
<v Speaker 2>happening here with the rentals. This has got to be

1:13:38.920 --> 1:13:42.120
<v Speaker 2>the hotel motel industry that pays an exorbited amount of taxes.

1:13:42.200 --> 1:13:43.960
<v Speaker 2>Like every time we raise a tack, well we'll just

1:13:43.960 --> 1:13:45.439
<v Speaker 2>add to the luxury check. We'll just add to the

1:13:45.439 --> 1:13:48.240
<v Speaker 2>hotel motel tax on this. And when you get a

1:13:48.240 --> 1:13:51.400
<v Speaker 2>hotel night for I don't know, one hundred and fifty bucks,

1:13:51.560 --> 1:13:53.360
<v Speaker 2>you get the bill, and it's like, you know, almost

1:13:53.400 --> 1:13:56.040
<v Speaker 2>two hundred dollars are probably more than two hundred because

1:13:56.120 --> 1:13:58.200
<v Speaker 2>of the taxes added on here. I feel for the

1:13:58.439 --> 1:14:03.240
<v Speaker 2>established business is like hotels, motels in this case taxes.

1:14:03.280 --> 1:14:06.599
<v Speaker 2>I mean New York City alone, the price of a

1:14:06.680 --> 1:14:10.320
<v Speaker 2>hack medallion, which basically is a transferable physical license plate

1:14:10.360 --> 1:14:12.720
<v Speaker 2>that's a round circle to medallion and they attach it

1:14:12.720 --> 1:14:14.360
<v Speaker 2>to the hood of a yellow cab in New York

1:14:15.439 --> 1:14:17.400
<v Speaker 2>the cost of one of those medallions is now over

1:14:17.479 --> 1:14:21.000
<v Speaker 2>a million dollars. So from a business perspective, it doesn't

1:14:21.000 --> 1:14:23.960
<v Speaker 2>seem fair that they're competing with uber and left drivers

1:14:23.960 --> 1:14:25.559
<v Speaker 2>who don't have to pay that exorbitant tax.

1:14:25.600 --> 1:14:26.880
<v Speaker 4>I think this is the same model.

1:14:27.920 --> 1:14:29.559
<v Speaker 6>Well, I think this is a broad That is a

1:14:29.560 --> 1:14:31.800
<v Speaker 6>big question about taxation and what's a fair tax. Where

1:14:31.800 --> 1:14:35.200
<v Speaker 6>everybody is and when you're mailing certain people, they're going

1:14:35.280 --> 1:14:37.840
<v Speaker 6>to get very upset about the new entrance into the marketplace,

1:14:38.240 --> 1:14:40.280
<v Speaker 6>and so they're going to you know, they prefer them

1:14:40.280 --> 1:14:42.320
<v Speaker 6>to you know, not enter the marketplaces, but they certainly

1:14:42.320 --> 1:14:44.400
<v Speaker 6>want them to do that. That's just where you start

1:14:44.400 --> 1:14:47.720
<v Speaker 6>hearing about the level playing field argument, which on one

1:14:47.760 --> 1:14:51.120
<v Speaker 6>hand is correct. That's an economic theory. It says it

1:14:51.120 --> 1:14:53.120
<v Speaker 6>it's a right thing to do is to make sure

1:14:53.200 --> 1:14:55.960
<v Speaker 6>that people that are similar kinds of businesses aren't being

1:14:56.760 --> 1:15:01.639
<v Speaker 6>disproportionately impacted one versus another because of a specific rule

1:15:02.080 --> 1:15:04.960
<v Speaker 6>or in taxation. You want it to be fair across

1:15:04.960 --> 1:15:07.439
<v Speaker 6>the board. And so that's certainly the argument they're using.

1:15:07.479 --> 1:15:09.360
<v Speaker 6>And I think you have to look at what are

1:15:09.400 --> 1:15:11.840
<v Speaker 6>we doing with these revenues. I mean, we've had lodging

1:15:11.880 --> 1:15:13.760
<v Speaker 6>tetch for a while, and unfortunately it's a sort of

1:15:13.760 --> 1:15:17.800
<v Speaker 6>scene that the soapy allow counters like right, because what

1:15:17.880 --> 1:15:20.599
<v Speaker 6>you're essentially saying is we're going to raise the revenue

1:15:20.600 --> 1:15:23.800
<v Speaker 6>on the backs of people who don't necessarily live so

1:15:23.840 --> 1:15:25.760
<v Speaker 6>that we can do that now, you know, I mean

1:15:25.800 --> 1:15:28.640
<v Speaker 6>they that is the Florida certainly does do that with

1:15:28.680 --> 1:15:30.080
<v Speaker 6>some of their taxes and stuff because we have a

1:15:30.120 --> 1:15:32.880
<v Speaker 6>lot of tourism and stuff that comes through there.

1:15:33.280 --> 1:15:33.400
<v Speaker 1>Uh.

1:15:33.600 --> 1:15:35.720
<v Speaker 6>And so I get what the rationale is, but we

1:15:36.040 --> 1:15:38.040
<v Speaker 6>need to be really careful how we think about this

1:15:38.120 --> 1:15:40.759
<v Speaker 6>and when we're doing this, and you occasionally see bills

1:15:40.760 --> 1:15:43.280
<v Speaker 6>and the or things and budget bills and stuff. They'll

1:15:43.280 --> 1:15:46.559
<v Speaker 6>had an additional thing for one visitor Bereavers another Visitors Bureau,

1:15:46.840 --> 1:15:48.719
<v Speaker 6>and I'm not trying to just brag on them. They

1:15:48.800 --> 1:15:52.479
<v Speaker 6>can't help to raise awareness, do certain things to build

1:15:52.520 --> 1:15:57.800
<v Speaker 6>the infrastructure to bring in concerts or conferences or what

1:15:57.960 --> 1:16:00.960
<v Speaker 6>are sporting events and stuff like that. So there may

1:16:00.960 --> 1:16:03.200
<v Speaker 6>be some rationale for some of that, but we need

1:16:03.240 --> 1:16:05.559
<v Speaker 6>to be very careful when we're applying this and then

1:16:05.640 --> 1:16:08.120
<v Speaker 6>when we start applaying it to new people. We need

1:16:08.160 --> 1:16:10.800
<v Speaker 6>to really think about what we're doing and how we're

1:16:10.840 --> 1:16:12.880
<v Speaker 6>spending the existing resources that we have.

1:16:13.080 --> 1:16:15.200
<v Speaker 2>Greg Laws and Buckeye and watch out for it. It's

1:16:15.200 --> 1:16:19.360
<v Speaker 2>House Bill one sixty one. Come in for more property texts,

1:16:19.400 --> 1:16:22.000
<v Speaker 2>basically what this is all the best, Thanks again, Bud,

1:16:22.000 --> 1:16:22.559
<v Speaker 2>I appreciate you.

1:16:23.200 --> 1:16:23.599
<v Speaker 6>Thank you.

1:16:24.000 --> 1:16:25.960
<v Speaker 2>We'll get a news update in here momentarily on the

1:16:25.960 --> 1:16:28.000
<v Speaker 2>Big one seven hundred WW. This is why I wake

1:16:28.080 --> 1:16:29.200
<v Speaker 2>up in the morning to see how we're going to

1:16:29.240 --> 1:16:31.160
<v Speaker 2>get screwed the next day and then talk to you

1:16:31.240 --> 1:16:34.559
<v Speaker 2>about it. Coming up next, Andy Schaeffer, we'll look at

1:16:34.560 --> 1:16:36.320
<v Speaker 2>the other side of this thing. If you're hearing this goes,

1:16:36.320 --> 1:16:38.320
<v Speaker 2>oh it's too much. Hold on just a second. I

1:16:38.360 --> 1:16:39.840
<v Speaker 2>got some information for it. It's going to make you

1:16:39.880 --> 1:16:42.040
<v Speaker 2>a little bit happier today despite all the craziness in

1:16:42.040 --> 1:16:42.439
<v Speaker 2>the world.

1:16:42.880 --> 1:16:44.360
<v Speaker 4>Simply money. Next seven hundred w.

1:16:44.400 --> 1:16:48.120
<v Speaker 11>Do time to talk about money, how to make it,

1:16:48.360 --> 1:16:51.320
<v Speaker 11>how to keep it, and how to keep others off

1:16:51.400 --> 1:16:58.400
<v Speaker 11>your stack. This is all worth advice with Andy Schaeffer.

1:16:58.479 --> 1:17:00.360
<v Speaker 2>All Right, I promised we had some hand news for

1:17:00.400 --> 1:17:04.000
<v Speaker 2>your today, happy news today. And Andy, what happy news

1:17:04.000 --> 1:17:07.160
<v Speaker 2>do we have today relative to your savings, your investment,

1:17:07.280 --> 1:17:10.280
<v Speaker 2>your future, your retirement, your college fund, on all that stuff.

1:17:10.320 --> 1:17:12.439
<v Speaker 4>Anything good, Give me something. Lead off with a good story.

1:17:12.600 --> 1:17:16.200
<v Speaker 9>Okay, that sounds good, well fed. Sherman Powell spoke last week.

1:17:16.600 --> 1:17:20.160
<v Speaker 9>The FOMC had their regular meeting, and one of the

1:17:20.160 --> 1:17:22.120
<v Speaker 9>good things that came out of it, and you know,

1:17:22.280 --> 1:17:23.880
<v Speaker 9>not all of it was good, but what he did

1:17:23.920 --> 1:17:26.120
<v Speaker 9>say is that our growth is tracking a little bit

1:17:26.200 --> 1:17:29.080
<v Speaker 9>higher this year than we previously thought. So, you know,

1:17:29.120 --> 1:17:32.200
<v Speaker 9>in spite of everything that's going on and Iran, you know,

1:17:32.200 --> 1:17:34.680
<v Speaker 9>we're looking at GDP growth this year about.

1:17:34.400 --> 1:17:35.479
<v Speaker 4>Two point six percent.

1:17:35.600 --> 1:17:37.880
<v Speaker 9>So there's something for you to start out with to

1:17:37.880 --> 1:17:39.200
<v Speaker 9>get it going on a positive note.

1:17:39.240 --> 1:17:42.360
<v Speaker 2>You know, earlier this morning I mentioned this, and it's true.

1:17:42.360 --> 1:17:46.200
<v Speaker 2>You know, consumer sentiment is cratered. It's below the financial

1:17:46.240 --> 1:17:51.240
<v Speaker 2>crisis and pandemic lows, and the economic perception is that

1:17:51.280 --> 1:17:53.639
<v Speaker 2>things aren't good right now, and Democrats are way more

1:17:53.640 --> 1:17:56.040
<v Speaker 2>negative on the economy Republicans under Biden were at this

1:17:56.080 --> 1:17:58.400
<v Speaker 2>particular time, which shows you how the needle moves right,

1:17:58.520 --> 1:18:01.680
<v Speaker 2>and I point it is early going. You know, if

1:18:01.680 --> 1:18:03.720
<v Speaker 2>you start looking at things, if you start looking at

1:18:03.720 --> 1:18:07.320
<v Speaker 2>the economy, it really the needle hasn't moved that much.

1:18:07.400 --> 1:18:09.639
<v Speaker 2>While some of the parts of the puzzle may have changed.

1:18:10.000 --> 1:18:14.360
<v Speaker 2>You know, gas prices, for example, are are going up, right,

1:18:14.400 --> 1:18:17.240
<v Speaker 2>but that's off set by other things that really, whether

1:18:17.240 --> 1:18:18.920
<v Speaker 2>it was Biden or Trump. If you look at the

1:18:19.000 --> 1:18:21.920
<v Speaker 2>Coracon economic numbers that you're talking about here, not a

1:18:21.920 --> 1:18:24.960
<v Speaker 2>lot has changed like that. It's it's not a speedboat,

1:18:24.960 --> 1:18:27.120
<v Speaker 2>it's an ocean liner. The economy, that's right.

1:18:27.160 --> 1:18:31.880
<v Speaker 9>And you know, furthermore, we saw the FOMC characterize unemployment

1:18:31.920 --> 1:18:34.040
<v Speaker 9>as little changed as well. You know, we're looking at

1:18:34.040 --> 1:18:37.120
<v Speaker 9>an unemployment rate to remain at about four point four percent. Now,

1:18:37.320 --> 1:18:39.360
<v Speaker 9>obviously that's a little bit higher than it was last

1:18:39.439 --> 1:18:42.080
<v Speaker 9>year or the year before, but historically that's really good.

1:18:42.120 --> 1:18:44.679
<v Speaker 4>Scott, Yeah, one hundred percent.

1:18:45.120 --> 1:18:47.599
<v Speaker 2>And you know there's a I think a truth social

1:18:47.640 --> 1:18:52.719
<v Speaker 2>effect as well. A single social media post from President

1:18:52.720 --> 1:18:55.599
<v Speaker 2>Trump sent oil prices down like fifteen dollars a barrel.

1:18:55.960 --> 1:18:57.920
<v Speaker 2>The S and P was more than, you know, one

1:18:58.040 --> 1:19:00.760
<v Speaker 2>two percent in two minutes. So it's like a lot

1:19:00.800 --> 1:19:02.760
<v Speaker 2>of the investors are reacting to what he's putting out

1:19:02.760 --> 1:19:05.479
<v Speaker 2>on social and that's crazy because normally we don't pay

1:19:05.479 --> 1:19:06.000
<v Speaker 2>attention to that.

1:19:06.040 --> 1:19:08.400
<v Speaker 4>Why is this different, Well, I think people do pay

1:19:08.439 --> 1:19:09.080
<v Speaker 4>attention to it.

1:19:09.120 --> 1:19:11.800
<v Speaker 9>You know, Normally a lot of investors react to headlines

1:19:11.960 --> 1:19:14.240
<v Speaker 9>and a lot of minutia, and sometimes they can be

1:19:14.840 --> 1:19:18.640
<v Speaker 9>irrational in nature. And obviously this isn't ideal with what

1:19:18.680 --> 1:19:20.960
<v Speaker 9>we're going through with Iran. You know, there's a lot

1:19:20.960 --> 1:19:23.759
<v Speaker 9>of fears from not only the citizens of the United States,

1:19:23.760 --> 1:19:26.600
<v Speaker 9>but investors in general. And it all comes down to

1:19:26.640 --> 1:19:29.240
<v Speaker 9>the straight over moves. You know, what does it look like?

1:19:29.280 --> 1:19:31.400
<v Speaker 9>We're at war with Iran? You know, we continue to

1:19:31.439 --> 1:19:34.160
<v Speaker 9>bomb over there. And basically what President Trump said is that, hey,

1:19:34.160 --> 1:19:36.679
<v Speaker 9>we actually have some talks that are going on right now.

1:19:37.720 --> 1:19:40.160
<v Speaker 9>So he said that he's going to suspend a lot

1:19:40.160 --> 1:19:43.439
<v Speaker 9>of the bombing, particularly on the energy sites in Iran,

1:19:43.560 --> 1:19:45.680
<v Speaker 9>and he said, hey, we're talking to them now. Interestingly,

1:19:46.160 --> 1:19:50.479
<v Speaker 9>Iran came back and their parliamentary president basically said, you know,

1:19:50.680 --> 1:19:53.240
<v Speaker 9>that's fake news, using a term that Trump always uses,

1:19:53.280 --> 1:19:55.360
<v Speaker 9>and said that you know, we're not having any talks,

1:19:55.479 --> 1:19:58.559
<v Speaker 9>but I do suspect that talks have been going on.

1:19:58.720 --> 1:20:03.320
<v Speaker 9>Iran typically does. There's been examples of Iran delegates and

1:20:03.560 --> 1:20:06.080
<v Speaker 9>United States delegates in the same hotel where they would

1:20:06.080 --> 1:20:08.760
<v Speaker 9>have to change their schedules so it didn't appear that

1:20:08.800 --> 1:20:10.880
<v Speaker 9>Iran was actually talking to the United States.

1:20:10.920 --> 1:20:12.120
<v Speaker 4>So they have a history of this.

1:20:13.040 --> 1:20:15.040
<v Speaker 9>So these five days are critical, and that's why we

1:20:15.080 --> 1:20:18.479
<v Speaker 9>saw the market's rise significantly yesterday. If it starts to

1:20:18.520 --> 1:20:20.720
<v Speaker 9>appear that we're going to have a resolution and the

1:20:20.720 --> 1:20:23.519
<v Speaker 9>straight oh Hoordor moves starts to open up, you're going

1:20:23.560 --> 1:20:25.679
<v Speaker 9>to see not only oil prices fall, which we saw

1:20:25.800 --> 1:20:28.360
<v Speaker 9>yesterday they were somewhere in the low nineties, but they

1:20:28.360 --> 1:20:30.160
<v Speaker 9>will continue to fall. And if you're out of the

1:20:30.160 --> 1:20:31.800
<v Speaker 9>market at this point and we do come to an

1:20:31.840 --> 1:20:34.639
<v Speaker 9>agreement with Iran, you're going to be left holding the back.

1:20:34.760 --> 1:20:35.000
<v Speaker 6>Yeah.

1:20:35.200 --> 1:20:37.160
<v Speaker 2>And as I mentioned before, you the data show's GDP

1:20:37.280 --> 1:20:40.360
<v Speaker 2>growth you mentioned inflation waged unployment kind of identical to

1:20:40.360 --> 1:20:43.320
<v Speaker 2>where we were last time before, it's pre Trump and

1:20:43.320 --> 1:20:46.479
<v Speaker 2>now with Trump and the numbers haven't really changed, consumer

1:20:46.520 --> 1:20:48.960
<v Speaker 2>sentiment keeps hitting new loads. Is that because we're bombarded

1:20:48.960 --> 1:20:50.400
<v Speaker 2>by negative information all the time.

1:20:50.600 --> 1:20:52.280
<v Speaker 9>That's part of it. But I also think it's the

1:20:52.320 --> 1:20:54.599
<v Speaker 9>potential fear of what can happen if we don't rep

1:20:54.640 --> 1:20:57.240
<v Speaker 9>this thing up in Iran right, and if it continues

1:20:57.280 --> 1:21:00.000
<v Speaker 9>to delay and delay, and remember Iran is very good

1:21:00.240 --> 1:21:02.800
<v Speaker 9>and negotiations and delaying to try to get what they want.

1:21:03.080 --> 1:21:05.000
<v Speaker 9>If that continues on and we do start to see

1:21:05.000 --> 1:21:07.519
<v Speaker 9>oil prices creep back up again, if they start to

1:21:07.520 --> 1:21:10.439
<v Speaker 9>get over one hundred and twenty five dollars per barrel,

1:21:11.000 --> 1:21:13.680
<v Speaker 9>that can have a long term impact on inflation. And

1:21:13.720 --> 1:21:15.599
<v Speaker 9>certainly what we don't want to see is the FED

1:21:15.680 --> 1:21:18.880
<v Speaker 9>have to reverse course and start to raise interest rates

1:21:18.960 --> 1:21:21.360
<v Speaker 9>as opposed to cut interest rates. And if that happens,

1:21:21.439 --> 1:21:23.599
<v Speaker 9>you'll see the markets start to tank. So I think

1:21:23.640 --> 1:21:25.720
<v Speaker 9>a lot of what investors are looking at now are

1:21:25.720 --> 1:21:27.960
<v Speaker 9>trying to play the odds to say, does it look

1:21:28.040 --> 1:21:30.760
<v Speaker 9>like we're having success or does it look like this

1:21:30.760 --> 1:21:32.320
<v Speaker 9>thing can spiral out of control?

1:21:32.439 --> 1:21:32.679
<v Speaker 3>Now?

1:21:32.920 --> 1:21:36.880
<v Speaker 9>The FED Chairman's pals credit when asked directly about the

1:21:36.880 --> 1:21:39.320
<v Speaker 9>conflict in Iran and how does that have an effect

1:21:39.400 --> 1:21:42.040
<v Speaker 9>on their decision making from a FED point of view.

1:21:42.040 --> 1:21:44.639
<v Speaker 9>He basically brushed it off and said, you know, it's

1:21:44.680 --> 1:21:45.599
<v Speaker 9>just too soon to tell.

1:21:45.640 --> 1:21:45.960
<v Speaker 3>On that.

1:21:46.160 --> 1:21:49.160
<v Speaker 9>He said, usually when we have these types of geopolitical conflicts,

1:21:49.200 --> 1:21:53.120
<v Speaker 9>they are fairly short term. They're not overreacting to it.

1:21:53.200 --> 1:21:54.840
<v Speaker 9>But they said that they are keeping an eye on it.

1:21:54.920 --> 1:21:57.519
<v Speaker 9>Ooka for now, the FED isn't overly worried about what's

1:21:57.520 --> 1:21:58.920
<v Speaker 9>going on in the Middle East.

1:21:59.240 --> 1:22:02.000
<v Speaker 2>I guess it's the oil pricing. Right, Oil is right

1:22:02.000 --> 1:22:05.479
<v Speaker 2>around just below ninety eight dollars. It went from one

1:22:05.520 --> 1:22:07.720
<v Speaker 2>thirteen to ninety eight right after he Trump posted that

1:22:07.800 --> 1:22:10.640
<v Speaker 2>on true social but it's still historically elevated. And what

1:22:10.800 --> 1:22:13.680
<v Speaker 2>point does that become a serious drag on the economy.

1:22:13.920 --> 1:22:16.840
<v Speaker 9>Yeah, So the problem from a data standpoint is if

1:22:16.840 --> 1:22:19.320
<v Speaker 9>oil starts to go up higher than seventy five percent

1:22:19.479 --> 1:22:22.160
<v Speaker 9>one hundred percent on a to your over year pricing,

1:22:22.280 --> 1:22:24.439
<v Speaker 9>then it becomes a problem. And again that number somewhere

1:22:24.439 --> 1:22:26.920
<v Speaker 9>around one hundred and twenty five dollars a barrel. I

1:22:26.960 --> 1:22:29.599
<v Speaker 9>do think Donald Trump has a very close eye on that.

1:22:29.720 --> 1:22:33.360
<v Speaker 9>He's already implementing some different things try to keep oil

1:22:33.400 --> 1:22:35.680
<v Speaker 9>prices down. You know, he wanted to open up the

1:22:35.720 --> 1:22:38.800
<v Speaker 9>Strategic Petroleum Reserve and release one hundred and seventy two

1:22:39.160 --> 1:22:39.920
<v Speaker 9>million barrels.

1:22:39.960 --> 1:22:40.479
<v Speaker 4>That's nothing.

1:22:40.840 --> 1:22:42.920
<v Speaker 9>Yeah, well, and that's the point. You know, he's doing

1:22:42.960 --> 1:22:44.920
<v Speaker 9>all these things. There's another one that you know they're

1:22:44.920 --> 1:22:48.040
<v Speaker 9>looking at is, you know, trying to loosen the formula

1:22:48.160 --> 1:22:51.800
<v Speaker 9>rules for gasoline. They're also talking about the potential of

1:22:51.840 --> 1:22:55.200
<v Speaker 9>a fuel tax holiday worth about eighteen point four percent

1:22:55.280 --> 1:22:58.280
<v Speaker 9>per gallon on gasoline and twenty four point four cents

1:22:58.320 --> 1:23:00.720
<v Speaker 9>on diesel. Well, all these things, I think or just

1:23:01.320 --> 1:23:03.800
<v Speaker 9>you know, just trying to shine up something that's not

1:23:03.920 --> 1:23:06.400
<v Speaker 9>very shiny to make people feel better about things. It

1:23:06.439 --> 1:23:09.519
<v Speaker 9>all comes down to the straight, oh horror moves our

1:23:09.640 --> 1:23:12.720
<v Speaker 9>NATO partners and also our allies in the Middle East.

1:23:12.760 --> 1:23:16.360
<v Speaker 9>You're starting to see Saudi Arabia and the UAE start

1:23:16.439 --> 1:23:19.680
<v Speaker 9>to consider joining the war as well. Now, yes, that

1:23:19.760 --> 1:23:22.800
<v Speaker 9>will help us, but that also push fears into the

1:23:22.840 --> 1:23:26.640
<v Speaker 9>minds of investors that this conflict is expanding, not contracting.

1:23:26.920 --> 1:23:29.080
<v Speaker 2>I got you, Andy Shaffer, simply money this morning on

1:23:29.120 --> 1:23:32.040
<v Speaker 2>seven hundred WT. Sent you straight with the money. Taking

1:23:32.040 --> 1:23:34.000
<v Speaker 2>the emotion out just getting to the fact, which I

1:23:34.040 --> 1:23:37.479
<v Speaker 2>love very much. Some antlers are saying that this could

1:23:37.520 --> 1:23:40.120
<v Speaker 2>be a repeat of nineteen seventy nine all over again,

1:23:40.200 --> 1:23:43.639
<v Speaker 2>when the Shaw was run out of town, so to speak.

1:23:43.840 --> 1:23:46.280
<v Speaker 2>And then of course we had the I told look

1:23:46.360 --> 1:23:48.080
<v Speaker 2>put in place there, and we know the story from

1:23:48.160 --> 1:23:50.720
<v Speaker 2>nineteen seventy nine, but we also had with that stagflation.

1:23:51.120 --> 1:23:54.000
<v Speaker 2>But that only happens with the sustained attack on the

1:23:54.040 --> 1:23:57.200
<v Speaker 2>Middle East oil infrastructure. How realistic is that risk right now?

1:23:57.240 --> 1:23:59.760
<v Speaker 2>And what specific triggers investors are looking for?

1:24:00.280 --> 1:24:03.000
<v Speaker 9>Yeah, so I think you know, people hear the terminology

1:24:03.080 --> 1:24:07.400
<v Speaker 9>stagflation quite a bit. And essecially what stagflation is, it's

1:24:07.479 --> 1:24:12.320
<v Speaker 9>slowing economic growth, high unemployment, and rising prices. So yes,

1:24:12.400 --> 1:24:15.519
<v Speaker 9>if we start to see prices increase again, that's part

1:24:15.560 --> 1:24:18.080
<v Speaker 9>of the fear of stagflation. But if you start to

1:24:18.120 --> 1:24:20.880
<v Speaker 9>see high unemployment as well, that becomes a significant problem.

1:24:20.960 --> 1:24:23.320
<v Speaker 9>And that's what we like largely saw on the Jimmy

1:24:23.320 --> 1:24:25.880
<v Speaker 9>Carter years and in the early Ronald Regan years. Now

1:24:26.240 --> 1:24:29.920
<v Speaker 9>we just talked about the labor numbers. Unemployment is not

1:24:30.080 --> 1:24:32.320
<v Speaker 9>high and it's not a threat to be high. So

1:24:32.360 --> 1:24:35.040
<v Speaker 9>I don't think it's realistic at this point to worry

1:24:35.080 --> 1:24:36.000
<v Speaker 9>about stagflation.

1:24:37.000 --> 1:24:38.519
<v Speaker 4>But I'm sure the feed has their eye on it.

1:24:38.520 --> 1:24:40.000
<v Speaker 9>But right now it's not a big threat.

1:24:40.080 --> 1:24:42.800
<v Speaker 2>Okay, So we're told tariffs add maybe a half point

1:24:42.800 --> 1:24:45.000
<v Speaker 2>to inflation when I triggering a recession. But now we've

1:24:45.000 --> 1:24:47.519
<v Speaker 2>got oil prices we mentioned on top of the existing tariffs,

1:24:47.760 --> 1:24:50.360
<v Speaker 2>are with that combined, are we getting to a tipping

1:24:50.360 --> 1:24:52.400
<v Speaker 2>point a little bit closer because of those two things

1:24:52.400 --> 1:24:53.160
<v Speaker 2>and that leverage?

1:24:54.640 --> 1:24:57.000
<v Speaker 9>Certainly, And I think there is a timeframe on this,

1:24:57.080 --> 1:24:59.320
<v Speaker 9>and I think the Trump administration is very aware of it,

1:24:59.360 --> 1:25:01.920
<v Speaker 9>and I think that's why they've been ramping up a

1:25:01.960 --> 1:25:04.160
<v Speaker 9>lot of the strikes that we've had over the last

1:25:04.320 --> 1:25:07.719
<v Speaker 9>week or so. You know, they are threatening to target

1:25:08.160 --> 1:25:11.639
<v Speaker 9>the energy infrastructure of Iran, and the leaders over there

1:25:11.720 --> 1:25:14.240
<v Speaker 9>right now certainly don't want that to happen because that

1:25:14.240 --> 1:25:18.439
<v Speaker 9>can cripple their economy overall. And so I think the

1:25:18.520 --> 1:25:21.479
<v Speaker 9>fact that we have dominated the airspace over there. We're

1:25:21.520 --> 1:25:25.640
<v Speaker 9>even sent in Apache helicopters and some A ten warthogs,

1:25:25.640 --> 1:25:28.799
<v Speaker 9>which usually is a signal that things are pretty secure

1:25:28.880 --> 1:25:32.559
<v Speaker 9>from an air superiority standpoint. To really protect what has

1:25:32.600 --> 1:25:35.360
<v Speaker 9>already been dominated that does signal that we are in

1:25:35.400 --> 1:25:37.760
<v Speaker 9>position to really do what we want over there. And

1:25:38.000 --> 1:25:41.519
<v Speaker 9>I do think that gives a Trump administration leverage and

1:25:41.520 --> 1:25:44.559
<v Speaker 9>and you know, will allow the Iranians to come to

1:25:44.600 --> 1:25:46.400
<v Speaker 9>the table. And I think that's largely what we saw

1:25:47.439 --> 1:25:49.479
<v Speaker 9>Sunday night and into Monday, and that's why the market's

1:25:49.560 --> 1:25:50.959
<v Speaker 9>ran so very well yesterday.

1:25:51.000 --> 1:25:53.880
<v Speaker 2>Gotcha, Andy Shaeffer, you mentioned at the onset here the

1:25:53.880 --> 1:25:57.960
<v Speaker 2>good news the Fed left the interest rates unchanged simply

1:25:57.960 --> 1:26:00.000
<v Speaker 2>because they're they're they're in their target range and they're

1:26:00.120 --> 1:26:03.080
<v Speaker 2>comfortable keep it on hold until we get inflation. And

1:26:03.120 --> 1:26:05.200
<v Speaker 2>the other thing there is labor market trends. We're not

1:26:05.280 --> 1:26:08.120
<v Speaker 2>quite sure because the government shutdowns are not getting data

1:26:08.240 --> 1:26:09.519
<v Speaker 2>and that's really the problem.

1:26:10.040 --> 1:26:11.719
<v Speaker 9>Yeah, and I think, you know, the Fitty even talked

1:26:11.720 --> 1:26:15.160
<v Speaker 9>about the impact of AI on the labor market as well.

1:26:15.840 --> 1:26:16.000
<v Speaker 6>You know.

1:26:16.080 --> 1:26:19.479
<v Speaker 9>Overall, I think the practical takeaway here is that there

1:26:19.600 --> 1:26:22.599
<v Speaker 9>is a plan in the Middle East, and they also

1:26:22.600 --> 1:26:25.960
<v Speaker 9>the FED also has a plan to potentially raise rates

1:26:26.040 --> 1:26:28.439
<v Speaker 9>slightly higher. There are some economists that think it might

1:26:28.479 --> 1:26:31.320
<v Speaker 9>be necessary, they're not there yet. I think there were

1:26:31.320 --> 1:26:33.639
<v Speaker 9>only two members that thought that might be a good idea,

1:26:34.040 --> 1:26:36.479
<v Speaker 9>but there is some margin pressure due to higher energy

1:26:36.479 --> 1:26:40.479
<v Speaker 9>costs and so the market volatility. You know, investors are

1:26:40.479 --> 1:26:43.120
<v Speaker 9>looking at as the FED tries to reprice all of

1:26:43.120 --> 1:26:45.639
<v Speaker 9>this based on what's going on over there. But as

1:26:45.680 --> 1:26:49.479
<v Speaker 9>always FED chairman pals, you know, Fed Committee, they are

1:26:49.520 --> 1:26:52.080
<v Speaker 9>taking in a conscious approach. I think as long as

1:26:52.120 --> 1:26:54.080
<v Speaker 9>we get everything wrapped up in Iran and come to

1:26:54.120 --> 1:26:55.960
<v Speaker 9>some sort of deal over the next couple of weeks,

1:26:56.200 --> 1:26:57.920
<v Speaker 9>it's going to be back to business as usual. I

1:26:57.920 --> 1:26:59.800
<v Speaker 9>think the markets will run and I do think that

1:26:59.840 --> 1:27:01.800
<v Speaker 9>the AS will likely cut rates, probably in.

1:27:01.800 --> 1:27:04.719
<v Speaker 2>JAID, which is good news for home buyers home sellers.

1:27:04.720 --> 1:27:06.479
<v Speaker 2>So let's get a little bit more juice going on here.

1:27:06.520 --> 1:27:09.599
<v Speaker 2>That's that's wonderful. Despite all this negative news out there,

1:27:09.800 --> 1:27:12.880
<v Speaker 2>the economy remains pretty steadfast. It takes a lot for

1:27:12.960 --> 1:27:17.000
<v Speaker 2>the economy to spiral downward. And it may be, who knows, today,

1:27:17.040 --> 1:27:20.040
<v Speaker 2>some God forbid, there might be some major groundshift that

1:27:20.080 --> 1:27:22.639
<v Speaker 2>we don't see happening here, a major cataclysmic event, which

1:27:22.640 --> 1:27:26.800
<v Speaker 2>is always a possibility, natural disaster, man made disaster, or

1:27:26.840 --> 1:27:30.000
<v Speaker 2>otherwise that'll bring the economy to a screeching all. Think

1:27:30.040 --> 1:27:32.800
<v Speaker 2>of COVID or nine to eleven, for example. We just

1:27:32.800 --> 1:27:35.040
<v Speaker 2>don't know what that's going to be. But you know,

1:27:35.080 --> 1:27:37.160
<v Speaker 2>you can't really set your watch by it. Those things happen.

1:27:37.200 --> 1:27:38.599
<v Speaker 2>But right now, that's the only thing that can trip

1:27:38.680 --> 1:27:39.639
<v Speaker 2>us up, is what you're saying.

1:27:39.920 --> 1:27:42.719
<v Speaker 9>Yeah, And you have to remember furthermore that the markets

1:27:42.800 --> 1:27:44.879
<v Speaker 9>one hundred percent of the time have met and exceeded

1:27:44.880 --> 1:27:47.680
<v Speaker 9>their previous highs. We did go through COVID, well, the

1:27:47.720 --> 1:27:51.599
<v Speaker 9>markets fell about fifty percent. We are significantly higher from

1:27:51.840 --> 1:27:54.000
<v Speaker 9>a S and P five hundred standpoint than we were

1:27:54.080 --> 1:27:57.680
<v Speaker 9>during COVID. When the tariffs were announced last April, the

1:27:57.680 --> 1:28:01.280
<v Speaker 9>markets fell another thirty percent. So we're significantly higher than

1:28:01.280 --> 1:28:03.160
<v Speaker 9>we were last April. And so if you have other

1:28:03.200 --> 1:28:06.200
<v Speaker 9>strategies in place, like having some decent amount of cash

1:28:06.240 --> 1:28:10.400
<v Speaker 9>reserves to be able to not participate in the volatility,

1:28:10.720 --> 1:28:12.600
<v Speaker 9>then you're gonna be fine. You just have to be

1:28:12.680 --> 1:28:15.800
<v Speaker 9>smart about understanding how the volatility works and have a

1:28:15.840 --> 1:28:18.200
<v Speaker 9>clear head and have a little bit of poise, and

1:28:18.280 --> 1:28:19.080
<v Speaker 9>you'll be just fine.

1:28:19.160 --> 1:28:19.479
<v Speaker 4>All right.

1:28:19.520 --> 1:28:21.920
<v Speaker 2>He's Andy Shaeffer at all Worth Financial and they have

1:28:21.960 --> 1:28:24.080
<v Speaker 2>a show called Simply Money. It airs at six o'clock

1:28:24.120 --> 1:28:27.760
<v Speaker 2>every weeknight on fifty five karc and for more go

1:28:27.840 --> 1:28:30.800
<v Speaker 2>there but all Worth Financial and Andy checks in every

1:28:30.800 --> 1:28:32.439
<v Speaker 2>Tuesday and let us know how things are going with

1:28:32.479 --> 1:28:35.240
<v Speaker 2>your money. He's pretty steady, Eddie, Andy, all the best.

1:28:35.360 --> 1:28:36.280
<v Speaker 2>Have a good one, buddy.

1:28:36.439 --> 1:28:37.280
<v Speaker 4>All right, Scott talks.

1:28:37.360 --> 1:28:40.360
<v Speaker 2>Appreciate jss he don't don't freak out, don't flip out.

1:28:40.400 --> 1:28:42.760
<v Speaker 2>Don't lose your bleep, baby, don't lose your bleep. We

1:28:42.800 --> 1:28:46.640
<v Speaker 2>are counting down to opening day, today being Tuesday. My

1:28:46.760 --> 1:28:48.920
<v Speaker 2>bad math tells me that it's two days away. You

1:28:48.960 --> 1:28:51.840
<v Speaker 2>got tomorrow and then Thursday. We're live the Holy Grail

1:28:51.880 --> 1:28:55.680
<v Speaker 2>Banks to kick off the twenty twenty six highly anticipated

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<v Speaker 2>campaign here on the home of the Red seven hundred WWT, Cincinnati,