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Speaker 1: Good afternoon. We're getting right down to business here. We

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Speaker 1: are doing it live, doing more at four weekday afternoons,

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Speaker 1: right after the Guy Benson Show and just before the

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Speaker 1: seven ninety KBC News Blitz Motack on Money Live on

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Speaker 1: the air and seven ninety KBC streaming live online worldwide

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Speaker 1: at KBC dot com. And you're on demand Motackle Money

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Speaker 1: Podcast KBC dot com, Apple, iTunes, YouTube, all of your

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Speaker 1: favorite podcast platforms. Rough day on Wall Street Today and

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Speaker 1: on Main Street. As gas prices continue to rise, the

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Speaker 1: now coming in for a closing loss of seven hundred

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Speaker 1: and sixty eight points, settling at forty six thousand, two

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Speaker 1: twenty five, the S and P five hundred, dropping ninety one,

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Speaker 1: and the Nasdaq down three twenty seven. We heard from

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Speaker 1: Fedshrevor Jerome Powell today on the latest outlook on interest

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Speaker 1: rates and the economy. The Fed held the line on

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Speaker 1: short term rates on concerns about inflation. The FED press

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Speaker 1: briefing did not open investors to what some felt was

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Speaker 1: the worst case scenario, though that the US and Israel's

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Speaker 1: attacks on Iran and the subsequent spike and energy prices

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Speaker 1: were pushing the FED toward another interest rates cut. Now

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Speaker 1: fed Chairman's Rome Pals said that he will stay on

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Speaker 1: as chair pro tem if his presumed successor, Kevin Warish,

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Speaker 1: is not confirmed by the middle of May, when Chairman

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Speaker 1: Powell's term expires. The Producer price Index out today up

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Speaker 1: points seven percent in February, following January's point three percent increase.

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Speaker 1: According to the Labor Department, The latest inflation report came

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Speaker 1: in hotter than expected. Oil prices climbing higher after new

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Speaker 1: attacks on critical energy infrastructure in the Middle East, with

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Speaker 1: the Iran strikes causing extensive damage to a major Cutter

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Speaker 1: fuel hub. Earlier, Israel struck a large Iranian gas fuel

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Speaker 1: shared with Cutter. The Foreign Minister in Cutter condemned both

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Speaker 1: the Israeli and Iranian attacks, calling them dangerous escalations. We're

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Speaker 1: watching the latest developments in the Middle East, with Iranian

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Speaker 1: missiles hitting Tel Aviv and causing heavy damage across central Israel.

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Speaker 1: Two people have died from injuries. Abu Dhabi authority saying

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Speaker 1: they've been intercepted missiles targeting gas facilities and an oil

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Speaker 1: field where watching developments there. I'll discuss all the latest

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Speaker 1: news in the Middle East as well as what's happening

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Speaker 1: here in the Los Angeles area, with security increased at

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Speaker 1: synagogues and other places of worship across the Los Angeles

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Speaker 1: area after a violent attack at a synagogue near Detroit

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Speaker 1: last week, in an anti Semitic attack at a restaurant

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Speaker 1: in San Jose, or in California this week. I'll be

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Speaker 1: joined live later this hour by Rabbi Abraham Cooper, the

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Speaker 1: Associate Dean and Director of Global Social Action for the

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Speaker 1: Simon Biesenthal Center and Museum of Tolerance in West Los Angeles.

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Speaker 1: Trump administration flagging California for insufficient safeguards and weak oversight

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Speaker 1: is part of a federal fraud crackdown announced by the President.

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Speaker 1: Part of this in bombs the Los Angeles property tied

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Speaker 1: to nearly two hundred hospice licenses, all registered to the

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Speaker 1: same address, but no sign of any legitimate Hope business

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Speaker 1: operating there. We'll talk about that and more with the

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Speaker 1: Honorable Dennis Zigin, former LA City Council member and retired

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Speaker 1: Laped sargeant with fifty plus years of SARS to the

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Speaker 1: City of angels But first, on your money, the markets,

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Speaker 1: in the economy, and all the big news today in

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Speaker 1: the markets and what happened with the Fed today, Gold

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Speaker 1: also taking a tumble, Bitcoin still holding above seventy one thousand.

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Speaker 1: Joining us live now Gabriel Wisdom, with American Money Management

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Speaker 1: and author of Wisdom on Value Investing. Gabriel Wisdom, thank

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Speaker 1: you very much for taking the call here this afternoon.

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Speaker 2: My pleasure, Frank.

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Speaker 3: You know, with fuel prices soaring since the start of

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Speaker 3: the conflict with Iran, a number of us have been

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Speaker 3: wondering could the next move when the FED meets in June,

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Speaker 3: and even six weeks from now when they meet, could

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Speaker 3: an interest rate hike be in the forecast We heard

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Speaker 3: from Sherman Polish you mentioned, and I think the key

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Speaker 3: takeaways I watched his remarks. He was that economic activity

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Speaker 3: is expanding at a solid pace, all good job gains

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Speaker 3: have remained low. In fact, job growth is at a

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Speaker 3: zero level for the first time in modern history. That's

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Speaker 3: a conundrum for the FED. Inflation remains as elevated. Some

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Speaker 3: members of the Federal Opal Market Committee have openly discussed

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Speaker 3: raising rates next time to get together if this persists.

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Speaker 3: And finally, the implications of developments in the least for

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Speaker 3: the US are certainly we can't foregas the future. There's

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Speaker 3: just a lot of uncertainty. So we saw the producer

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Speaker 3: price index come in. This is really the wholesale rate

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Speaker 3: of inflation that comes from the producers versus the consumer

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Speaker 3: price index, which measures price changes encountered by you and

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Speaker 3: I the consumer and inflation is a real factor.

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Speaker 2: It's sticky right now, Frank, all.

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Speaker 1: Right, And now there's there been some write ups about

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Speaker 1: recession concerns in the face of all this, any clue

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Speaker 1: from the FED chairman as to what his thoughts are

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Speaker 1: here now and the Fed's next moves here possibly under

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Speaker 1: the new FED share.

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Speaker 2: Well, I liked the.

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Speaker 3: Fact that Chairman Powell refused to give up a forecast

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Speaker 3: for the future. He's just looking at the data, and

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Speaker 3: that's really what the Federal of the Market Committee and

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Speaker 3: the chair supposed to do. But I can tell you

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Speaker 3: I'm happy to make a forecast. Either have been six

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Speaker 3: prior oil shocks the past fifty five years, and the

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Speaker 3: first five coincided with recessions. We all remember those of

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Speaker 3: have been around a while. Remember the nineteen seventies we

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Speaker 3: had two recessions, and of course we weren't a net

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Speaker 3: exporter of oil. We were importing oil and so we

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Speaker 3: had a stagflationary situation. The previous spike in oil came

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Speaker 3: in twenty twenty two and we had a bear market

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Speaker 3: in stocks, but there was no recession. A lot of analysts,

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Speaker 3: almost every analyst, seemed to forecast a recession with the

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Speaker 3: recession that didn't show up.

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Speaker 2: Now.

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Speaker 3: Since the beginning of the decade, we had the pandemic

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Speaker 3: that was six years ago this month, we've also had

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Speaker 3: disruptions in the supply chains. Inflation up sharply, three banks failed,

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Speaker 3: we had the tariff's impose that was disruptive, and payroll

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Speaker 3: employment gains have dwindled.

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Speaker 2: So will we have a recession? I think we're overdue,

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Speaker 2: all right.

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Speaker 1: In all this, with the latest reading on inflation and

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Speaker 1: the Fed Shaares comments, we saw gold take a tumble today.

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Speaker 1: It's back below five thousand now down around forty eight

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Speaker 1: hundred and twenty and down here after hours, down about

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Speaker 1: seventy six dollars forty eight twenty announce Silver also taking

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Speaker 1: a hit. What about gold and all this?

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Speaker 3: You know, gold, it is a real recession indicator. And

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Speaker 3: I think the recession we may have might just be

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Speaker 3: rolling through different industry sectors or service sectors.

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Speaker 2: Of the economy. It won't be a broad recession in

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Speaker 2: my view.

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Speaker 3: But gold prices rose for eight consecutive months ending in

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Speaker 3: February franc and there's just one other time that that's happened,

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Speaker 3: and sure enough, we had a pretty serious recession. If

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Speaker 3: we look at history gold prices going up eight straight months,

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Speaker 3: it's almost unprecedented, but it has occurred. And you know

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Speaker 3: when this and that was in two thousand and eight.

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Speaker 3: By the way, two thousand and eight, the financial crisis

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Speaker 3: gripped the markets. The S and P five hundred and

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Speaker 3: the Dow Jones average entered a very severe bear market

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Speaker 3: lasted about a year. Let's hope we don't have another

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Speaker 3: one of those, all right.

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Speaker 1: We're looking at bond yields as well. Government note yields

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Speaker 1: of the yield not tenure notes suddenly to four point

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Speaker 1: two six percent. That's the one that impacts the fixed

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Speaker 1: rate mortgage rates, which are now back above six percent

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Speaker 1: as of last a couple of weeks. What is that telling.

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Speaker 3: Us, telling us that there's inflation and it's not just oil.

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Speaker 3: The standstill in the strait of her moves is making

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Speaker 3: big waves across supply chains that we normally not associate

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Speaker 3: with oil. When Qatar shut down their hubs due to

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Speaker 3: drone attacks that halted production of liquefied natural gas and helium.

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Speaker 3: And helium, which is a byproduct of natural gas extraction,

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Speaker 3: is essential in making computer chips. They're used to cool

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Speaker 3: the chips during fabrication to prevent overheating and defects. NAM

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Speaker 3: Who would have thought, then, we've seen fertilizer prices soaring

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Speaker 3: because the straight over Hormuz impasse has sent those prices

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Speaker 3: for I think it's pronounced urea, which is an important

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Speaker 3: nitrogen fertilizer. It's gone vertical. So yeah, there's some winners

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Speaker 3: in all of this. But interest rates and the open

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Speaker 3: market have gone up as a result of these inflationary pressures, all.

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Speaker 1: Right, and the earnings preyed and all this continuing as well.

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Speaker 1: Micron with blowout earnings forecast today, the stock is moving

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Speaker 1: sharply lower in the after hours trading, despite that earnings

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Speaker 1: report had closed up four cents the four sixty one

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Speaker 1: and change, plunging about twenty six dollars at the moment

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Speaker 1: back to around four point thirty five. What about that

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Speaker 1: one and your thoughts about the Max seven names and

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Speaker 1: how the tech stocks have been performing in all this.

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Speaker 3: Run is a you know, memory chip producer. They provide

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Speaker 3: random access memory chips RAM, which you know we could

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Speaker 3: all use more RAM. I could use more RAM for

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Speaker 3: my brain, certainly. And there's a huge demand for what

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Speaker 3: Micron Technology produces, but their profit margins are getting squeezed

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Speaker 3: because there's more competition. And then today Oxford Economics came

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Speaker 3: out with their forecasts about artificial intelligence and they say

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Speaker 3: it won't transform productivity in the near term. The historical

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Speaker 3: evidence from other periods of technological advance show that there's

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Speaker 3: potential for big productivity gains from innovations like AI.

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Speaker 2: But this could take decades, just like it.

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Speaker 3: Did for you know, the dot com and internet boom

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Speaker 3: of the tech boom of the late nineteen nine nineties.

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Speaker 3: So I think when you get a great company with

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Speaker 3: Micron Technology that has blowout earnings and the shares go down,

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Speaker 3: that tells you the market's tired at this stage.

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Speaker 1: On they're live with Gabriel Wisdom of American money management,

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Speaker 1: and there's so many moving parts here. Of course, the

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Speaker 1: volatility index spiked again today as the Dow plunged nearly

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Speaker 1: eight hundred points the VIX index, the so called Wall

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Speaker 1: Street fear index, the volatility index moving of twelve percent today.

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Speaker 1: What do you think of that index and any plays

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Speaker 1: on the ongoing volatility here?

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Speaker 3: Well, I think volatility was going to be short lived

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Speaker 3: and it has to do with you know, war, rumors

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Speaker 3: of war, the escalation of the conflict. But the US

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Speaker 3: dollar has been very strong, you know, a weaker dollar

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Speaker 3: would would be would be inflationaries strong dollar and higher

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Speaker 3: ten year interest rates suggests that better times are ahead

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Speaker 3: because it's we've reached an equilibrium. So the volatility index

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Speaker 3: the very short run tells us that, you know, there's

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Speaker 3: a lot of uncertainty and risk is off, it's not on.

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Speaker 3: But in the longer run, I think this will be

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Speaker 3: a great opportunity for all of us, who you know,

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Speaker 3: can look forward to the next six months.

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Speaker 1: Curiously, Bitcoin and the other cryptos have been firming lately

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Speaker 1: in the face of a lot of uncertainty, performing better

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Speaker 1: than that even gold recently. By the way, Bitcoin right

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Speaker 1: now at around seventy one thousand, got up to a

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Speaker 1: close to seventy six thousand earlier this week. Ethereum is

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Speaker 1: hovering above two thousand. Still in fact, you Shiyne with

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Speaker 1: twenty two hundred. What are your thoughts on how the

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Speaker 1: cryptos have been performing and your thoughts on crypto here now?

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Speaker 3: You know it's interesting, Frank, I mentioned the strong dollar

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Speaker 3: a weeker would actually be bad for bitcoin because it

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Speaker 3: depresses Bitcoin's value and other currencies. A lot of people

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Speaker 3: that transact in cryptos, in particular bitcoin, will because they

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Speaker 3: need the currency.

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Speaker 2: Of the realm.

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Speaker 3: They'll convert whatever the valuation is to the local currency.

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Speaker 3: So overseas investors take their gains or they cut their

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Speaker 3: losses by selling their bitcoins. Some might be moving into

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Speaker 3: other areas. Certainly the dollar right now is stronger, but

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Speaker 3: the US dollar back crypto tokens known as stable coins,

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Speaker 3: I think those.

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Speaker 2: Are game changers.

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Speaker 3: Even though the US banks don't like them. They see

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Speaker 3: it as some form of competition, but I think they'll

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Speaker 3: will all be on board before long.

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Speaker 1: All right, where do you see the ports and the

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Speaker 1: storm and all this gay real wisdom? And I'll ask

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Speaker 1: you the big question here now than any specific places

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Speaker 1: where you are putting money now into or taking off

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Speaker 1: the table.

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Speaker 3: Frank, I'm looking at some buying opportunities, one that we haven't.

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Speaker 2: Yet begun to buy.

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Speaker 3: But we're considering it is Booking Holdings, you know, Booking

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Speaker 3: dot Com, the travel site BKNJG. Rather, it's got a

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Speaker 3: lot of reliance on its merchant model, and it acts

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Speaker 3: as the principle in a transaction where they collect the

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Speaker 3: payment at the time of the booking. They remit the

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Speaker 3: funds to the service provider, and it supports a lot

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Speaker 3: of cross selling across accommodations and flights and attractions and

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Speaker 3: so forth. A revenue on the merchant side has been

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Speaker 3: up twenty seven percent year over year, yet the shares

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Speaker 3: are down twenty percent. The stock was trading at five thousand,

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Speaker 3: eight hundred a share. It's now only four thousand, four

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Speaker 3: hundred a share in round numbers. But they're going to

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Speaker 3: have a twenty five for one stock split April one.

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Speaker 3: I think I like it here, or you could look

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Speaker 3: at the exchange traded funds that have Bookings dot Com,

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Speaker 3: along with the airlines and the cruise lines. They all

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Speaker 3: seem cheap.

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Speaker 1: Very interesting, and of course they've come under pressure energy

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Speaker 1: sensitive names right the travel industry are reacting to the

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Speaker 1: higher cost of jet fuel and so forth. And meanwhile

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Speaker 1: the oil stocks pretty much ended mixed today. What do

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Speaker 1: you think of the oil names, the big ones like

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Speaker 1: chevron x on Moobila and so forth.

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Speaker 3: Well, I like them a lot, though you know a

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Speaker 3: substantial move has been made there. But I still think

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Speaker 3: you have to own them because higher oil prices are

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Speaker 3: clearly good for them. We could get through this whole

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Speaker 3: conflict with oil above one hundred dollars a barrow, even

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Speaker 3: though one hundred and thirty one hundred and.

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Speaker 2: Forty dollars a barrow.

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Speaker 3: Growth will you know, will continue. We'll expand at maybe

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Speaker 3: two to three percent rate. Airline fares will be higher,

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Speaker 3: They're already going up. Diesel prices have already gone up,

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Speaker 3: so everything that gets transported goes up in price. But

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Speaker 3: oil is a necessary component and so much of what

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Speaker 3: we have in the world.

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Speaker 2: I wouldn't give up on all, right.

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Speaker 1: Gabriel Wisdom of American Money Management based right here in

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Speaker 1: Southern California. Also author of Wisdom on Value Investment. Gabriel,

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Speaker 1: thank you very much for fielding all those questions and

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Speaker 1: appreciate your great analysis. As always, thank you very much

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Speaker 1: for joining us live you this afternoon.

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Speaker 2: Thank you. Frank Socks.

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Speaker 1: Pulling back today as the Fed held the line on

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Speaker 1: short term interest rates and a decision made by fedshairman'

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Speaker 1: Jerome Powell and Company announced today and the Fedshairman in

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Speaker 1: a full blown news conference at rising oil prices and

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Speaker 1: his words for sure showed up and policymakers higher inflation

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Speaker 1: outlook for this year, lifting their forecast to two point

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Speaker 1: seven percent from two point four percent now. Jones Industrial

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Speaker 1: Average came in for a closing loss of nearly eight

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Speaker 1: hundred points, settling at forty six two twenty five, the

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Speaker 1: S and P five hundred, down ninety one at sixty

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Speaker 1: six twenty five, the Nasdaq hitting closing at the low

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Speaker 1: point of the day down three hundred twenty seven points

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Speaker 1: at twenty two thousand and one fifty two. The markets

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Speaker 1: fell further following the FED meeting results and Chairman Powell's

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Speaker 1: news conference, with Bitcoin sliding back to just below of

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Speaker 1: seventy one thousand and the Nasdaq closing at its session

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Speaker 1: load down about one and a half percent. Powell pushing

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Speaker 1: back on comparisons to nineteen seventy style stagflation, arguing that

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Speaker 1: unemployment is near long term norms and inflation is only

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Speaker 1: modestly above target. Bitcoin YEP slipping below seventy one k today,

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Speaker 1: As the FED Chairman did dimension rising oil prices amid

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Speaker 1: the warrant Iran as a new inflation risk. The Fed

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Speaker 1: holding interest rates steady as expected, but during his news

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Speaker 1: conference today, the FED charry knowledge that the recent surge

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Speaker 1: and energy prices is already feeding into the Fed's outlook,

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Speaker 1: policymakers raising there are twenty twenty six inflation forecasts today,

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Speaker 1: under scoring concerns that price pressures could remain elevated longer

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Speaker 1: than anticipated. Of course, the most visible sign of all

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Speaker 1: this as the price of oil hovers around one hundred

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Speaker 1: dollars a barrel at the southern California gas pumps. We're

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Speaker 1: looking at five sixty six now, the average price for

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Speaker 1: regular six zh four, the average price for premium six

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Speaker 1: fifty three. The average price for diesel looks like both

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Speaker 1: regular and premium now about a dollar higher a gallon

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Speaker 1: compared to a month ago. Diesel is about a dollar

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Speaker 1: fifty higher compared to a month ago. Right now, Oil

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Speaker 1: and New York covering at ninety nine and change. Gold

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Speaker 1: taking a hit today, down a few hundred dollars. Right

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Speaker 1: now at forty eight hundred and twenty an ouns silver

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Speaker 1: down a dollar sixty seven back to seventy five ninety two.

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Speaker 1: The yield in the tenure note, which impacts fixed rate

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Speaker 1: mortgage rates, is up to four point twenty six percent.

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Speaker 1: Checking the cryptos now we see a bitcoin hovering at

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Speaker 1: around seventy one thousd seventy six, Ethereum at twenty one

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Speaker 1: hundred ninety one and doze at the moment at nine cents.

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Speaker 1: And now the latest news on seven ninety kbs eight

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Speaker 1: motech of money continues here in seven ninety KBC war

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Speaker 1: in the Middle East impacting the financial markets. We're watching

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Speaker 1: the latest headlines here Iranian missiles hitting Tel Aviv and

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Speaker 1: causing heavy damage across central Israel. Israel has killed Iran's

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Speaker 1: intelligence minister, the latest among the Iran's top leadership to

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Speaker 1: be wiped out. This week, an Iranian strikes causing extensive

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Speaker 1: damage to a major Cutter fuel hub. Earlier, Israel struck

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Speaker 1: a large Iranian gas field shared with Cutter. Of course,

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Speaker 1: so locally we're watching a security being increased. The synagogues

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Speaker 1: another places of worship all across the Los Angeles are

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Speaker 1: and indeed nationwide. After a violent attack at a synagogue

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Speaker 1: near Detroit last week, and an anti Semitic attack here

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Speaker 1: in California at a restaurant in San Jose this week.

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Speaker 1: Following all these developments, very closely joining us Live Now

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Speaker 1: is run by Abraham Cooper, Associate Dean and Director of

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Speaker 1: Global sol Social Action at the Simon Wiesenthal Center and

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Speaker 1: Museum of Tolerance in West Los Angeles. Rabbi, thank you

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Speaker 1: very much for taking the call here this afternoon.

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Speaker 2: It's good to hear you again.

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Speaker 1: Always an honor to have you with us here. Rabbi Cooper,

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Speaker 1: give us your reaction, first of all, close to home

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Speaker 1: here with the security being increased and this horrific attack

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Speaker 1: at a restaurant in San Jose and the other recent

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Speaker 1: incidents of your reaction, Sir, well.

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Speaker 4: The community is definitely on edge, but you know we've

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Speaker 4: been through this now for the latest actually since October

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Speaker 4: twenty twenty three. The synagogues that can have already you know,

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Speaker 4: muscled up. We at Synagogue I pray at we have

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Speaker 4: LAPD or former LAPD people who are not only trying

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Speaker 4: to secure the facility but keep out a sharp eye

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Speaker 4: for individuals, perhaps associated with foreign entities that are looking

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Speaker 4: to to size up various targets. So we're taking it

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Speaker 4: extremely seriously. But also this is Los Angeles. It's a

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Speaker 4: proud Jewish community, the second to third lodgers in the

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Speaker 4: United States.

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Speaker 2: Life goes on.

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Speaker 4: We're getting ready in two weeks for Passover, and it's

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Speaker 4: a very difficult time. I will say, you know, I'm

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Speaker 4: listening and looking at all the same headlines you are.

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Speaker 4: But I spoke to my ten year old granddaughter in

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Speaker 4: Jerusalem a few hours ago, and you know, I asked her, so,

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Speaker 4: you know, how are you doing. Did you sleep last night? Well,

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Speaker 4: I went to sleep, and then at about midnight we

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Speaker 4: had to go down, and I got dressed and went

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Speaker 4: down and spent some time there, and then we were

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Speaker 4: able to come up after a while. And then eight

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Speaker 4: o'clock this morning there was another one. But that was

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Speaker 4: just a warning, almost matter of fact me. But it's

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Speaker 4: not a matter of fact for the millions of children

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Speaker 4: around the region got are impacted. And also, you know,

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Speaker 4: we are in a sense in this expanded holy season.

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Speaker 4: Rabadana is coming to a close. We're going to have Easter,

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Speaker 4: we have Passover. The Iranians have targeted the Old City

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Speaker 4: of Jerusalem. There were parts of the ballistic missile that

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Speaker 4: landed in the courtyard as the Holy Church of the Sepulcher.

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Speaker 4: In other parts of the old city, there's part of

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Speaker 4: one of the I Guess engines that fell just a

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Speaker 4: few yards from the western wall. So you're looking at

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Speaker 4: a regime that, though it uses its own version of theocracy,

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Speaker 4: has absolutely no respect whatsoever for any religions except their religion,

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Speaker 4: which is unfortunately dangerous.

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Speaker 2: Power.

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Speaker 4: It's all about keeping the power, and if it means

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Speaker 4: mass murdering your own people, they'll do it. And we're

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Speaker 4: seeing them. They're hespel and lackeys now out of Lebanon,

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Speaker 4: pouring on the rockets of the missiles at northern Israel

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Speaker 4: and as far south, you know as Theirsheva. It's a

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Speaker 4: tough time for the people. But I think that everyone

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Speaker 4: that I speak to, including grandchildren and adults, understands that

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Speaker 4: this is this needs to be the final chapter for

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Speaker 4: that regime in Iran, to help free the Iranian people

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Speaker 4: and to do to the Hespelo terrorists what the government

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Speaker 4: of Lebanon and the army can't or won't do. And

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Speaker 4: I know because I listened to you believe it or

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Speaker 4: not quite a bit during the week. You're a wish

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Speaker 4: when it comes to economics. I'm not at all shocked

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Speaker 4: that the first statement coming from French President mac rode Is,

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Speaker 4: I called the Emir in Qatar, I called.

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Speaker 2: President of the United States.

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Speaker 4: I'm so worried about the gas supply in that region,

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Speaker 4: in Qatar and in Iran. But if people like Kim

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Speaker 4: and Somber would at least send a couple of mind

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Speaker 4: sweepers to their gulf to help those ships get through,

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Speaker 4: we'd be in a totally different situation right now. So

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Speaker 4: we're also witnessing, I think the complete demise of the

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Speaker 4: relevancy of the United Nations, who have Secretary General kutas

403
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Speaker 4: Ran to beyroots because when he saw that Israel was

404
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Speaker 4: going into Lebanese territory, that was beyond the pale for him.

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Speaker 4: But he couldn't take the ten minutes flights from there

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Speaker 4: to Jerusalem to make a gesture to ten million, almost

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Speaker 4: ten million people who've been under the gun since October seventh,

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Speaker 4: twenty twenty three. So it's a tough battle, it's brutal,

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Speaker 4: and of course at home here with our domestic differences

410
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Speaker 4: and our president being I would say of all previous presidents.

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Speaker 4: He is a lightning rod on both sides of the

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Speaker 4: aisle for so many different issues. It's difficult and painful

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Speaker 4: to see that, at least on this one, with a

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Speaker 4: regime that has proven it is the ultimate evil by

415
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Speaker 4: mass murdering its own people, by going you know after

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Speaker 4: you know, girls, for uncovering their their heads, et cetera.

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Speaker 4: If this can bring Americans together, I'm not sure you

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Speaker 4: know what it could. But going forward, I just hope

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Speaker 4: that more nations will join with the United States, Israel

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Speaker 4: and both states. I have very close friends and in Manama,

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Speaker 4: in Bahrain, they're getting clobbered. It's a tiny little country,

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Speaker 4: probably runs about the distance between downtown LA and Santa Monica.

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Speaker 4: They're getting clobbered every day by the Iranians. And to

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Speaker 4: see the NATO and the European nations not stepping forward. Japan,

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Speaker 4: that guess most of it's oil. Everybody finding an.

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Speaker 2: Excuse not to get involved.

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Speaker 4: And I believe that if they would get involved in

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Speaker 4: the short run, it can bring the sward to a

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Speaker 4: much quicker.

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Speaker 1: And on dere line with Rabbi Abraham Cooper, Associate Dean

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Speaker 1: and Director of Global Social Action at the Simon Decental

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Speaker 1: Center and Museum of Tolerance in West Los Angeles. We're

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Speaker 1: watching the latest reports here. It looks like missiles hit

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Speaker 1: Tel Aviv and caused heavy damage there. We're watching those

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Speaker 1: reports very very closely. Robik, what do you think the

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Speaker 1: endgame and all this will be with the Shawn Sun

437
00:27:03,440 --> 00:27:05,679
Speaker 1: speaking out? Looks like he's said to give some big

438
00:27:05,760 --> 00:27:10,560
Speaker 1: speeches here in the US. Very very shortly, Israel today

439
00:27:10,600 --> 00:27:14,840
Speaker 1: decapitated another Iranian, the head of security there. They're going

440
00:27:14,920 --> 00:27:17,399
Speaker 1: right down the list. It looks like at this criminal regime,

441
00:27:18,320 --> 00:27:19,560
Speaker 1: what do you see as the endgame here?

442
00:27:19,680 --> 00:27:23,560
Speaker 4: Before we run well, just before I get to that, also,

443
00:27:23,640 --> 00:27:27,879
Speaker 4: I talk about it is a criminal regime. One of

444
00:27:27,960 --> 00:27:33,160
Speaker 4: their missiles just killed six Palestinian women who are having

445
00:27:33,240 --> 00:27:37,200
Speaker 4: their hair done and he brought so they don't care

446
00:27:37,320 --> 00:27:40,680
Speaker 4: right now who they hit. They just want to continue

447
00:27:40,720 --> 00:27:44,159
Speaker 4: to increase the chaos. And the only answer that I

448
00:27:44,320 --> 00:27:50,399
Speaker 4: see is the crushing of a Life's President's approach is try,

449
00:27:50,800 --> 00:27:54,199
Speaker 4: if at all possible, not to take out the natural

450
00:27:54,359 --> 00:27:59,280
Speaker 4: resources that a new Iran will need to reconstitute its economy.

451
00:28:00,000 --> 00:28:04,720
Speaker 4: In the meantime, these are this is an evil empire,

452
00:28:04,840 --> 00:28:08,639
Speaker 4: a kind of theocracy that reminds you of Nazis or

453
00:28:08,640 --> 00:28:12,600
Speaker 4: a mafia. And they've already proved in this past past

454
00:28:12,640 --> 00:28:15,920
Speaker 4: couple of weeks that to stay in power they would

455
00:28:15,960 --> 00:28:18,800
Speaker 4: kill anyone. So I think we've reached a tipping point.

456
00:28:19,440 --> 00:28:23,399
Speaker 4: It'll go faster if the Europeans finally wake up and

457
00:28:23,560 --> 00:28:25,760
Speaker 4: if they don't what we hurt from the President of

458
00:28:25,800 --> 00:28:30,359
Speaker 4: the United States. Together with Israel and together with the

459
00:28:31,000 --> 00:28:35,080
Speaker 4: Bull States, I hope Saudi Arabia UAE, they have great

460
00:28:35,280 --> 00:28:41,080
Speaker 4: military capabilities. I think in order to defend themselves, they're

461
00:28:41,080 --> 00:28:43,560
Speaker 4: going to have to roll up their seeds and help

462
00:28:43,640 --> 00:28:47,640
Speaker 4: out with this effort. Otherwise, I think we're looking at

463
00:28:48,120 --> 00:28:50,800
Speaker 4: the earliest the end of April, at the beginning of May.

464
00:28:51,360 --> 00:28:53,360
Speaker 1: ROLEI Cooper, thank you very much. I wish we had

465
00:28:53,400 --> 00:28:55,760
Speaker 1: more time. As always, we'll keep an open line to you.

466
00:28:55,920 --> 00:28:59,240
Speaker 1: Robby Abraham Cooper, Associated Dean and Director of Global Social

467
00:28:59,320 --> 00:29:01,920
Speaker 1: Action at the Sime and Biesenthal Center and Museum of

468
00:29:02,000 --> 00:29:04,440
Speaker 1: Tolerance in West Los Angeles. Rebbi, thank you very much

469
00:29:04,640 --> 00:29:08,160
Speaker 1: for taking the call this afternoon. Thank you, sir, God

470
00:29:08,160 --> 00:29:12,040
Speaker 1: bless seven ninety KBC. Motack of Money continues here seven

471
00:29:12,080 --> 00:29:15,960
Speaker 1: ninety KABC good afternoon. The private administration flagging California for

472
00:29:16,000 --> 00:29:19,360
Speaker 1: insufficient safeguards and weak oversight. As part of it, fraud

473
00:29:19,480 --> 00:29:21,880
Speaker 1: cracked down announced by the President. Part of this involves

474
00:29:21,880 --> 00:29:24,920
Speaker 1: a Los Angeles property now tied to nearly two hundred

475
00:29:25,040 --> 00:29:29,000
Speaker 1: hospice licenses, all registered to the same address, but doesn't

476
00:29:29,040 --> 00:29:31,240
Speaker 1: be any appear to be any sign of legitimate hospice

477
00:29:31,240 --> 00:29:34,480
Speaker 1: business operating there. Joining us live now the honorable Dennis

478
00:29:34,520 --> 00:29:37,880
Speaker 1: zign former LA City Council member and retired LAPD sergeant

479
00:29:37,920 --> 00:29:41,000
Speaker 1: fifty plus years of service to the City of Angels

480
00:29:41,720 --> 00:29:44,600
Speaker 1: Dennis Sign, thanks for coming to the line.

481
00:29:45,920 --> 00:29:50,720
Speaker 5: My pleasure, Frank. Another scandal within the government of the

482
00:29:50,800 --> 00:29:55,920
Speaker 5: state of California. Not unusual, a week oversight, obviously very

483
00:29:56,120 --> 00:29:59,320
Speaker 5: weak oversight. But if you look into the history of

484
00:29:59,440 --> 00:30:04,160
Speaker 5: California and the political scandals, they mount up continuing problems.

485
00:30:04,640 --> 00:30:08,520
Speaker 5: They establish a program, they don't monitor, they don't organize,

486
00:30:08,760 --> 00:30:11,760
Speaker 5: they don't check, and then they do an investigation months

487
00:30:11,880 --> 00:30:14,600
Speaker 5: years later and they find out that the money was

488
00:30:14,880 --> 00:30:19,360
Speaker 5: inappropriately used for a purpose not intended, and the legitimate

489
00:30:19,440 --> 00:30:22,600
Speaker 5: purpose that it was applied to goes by the wayside.

490
00:30:22,640 --> 00:30:23,960
Speaker 6: But this is happening more and more.

491
00:30:24,040 --> 00:30:27,160
Speaker 5: It's happening not only in the healthcare, the hospice, but

492
00:30:27,240 --> 00:30:30,360
Speaker 5: it's happening with schools, it's happening with seniors, it's happening

493
00:30:30,400 --> 00:30:34,320
Speaker 5: in the childcare. It's a continuing battle, and the problem

494
00:30:34,480 --> 00:30:37,640
Speaker 5: is they establish a program. We're not talking about thousands,

495
00:30:37,960 --> 00:30:41,520
Speaker 5: We're talking about billions upon billions of dollars. It's kind

496
00:30:41,560 --> 00:30:45,080
Speaker 5: of like with the homeless situation, billions and billions of dollars,

497
00:30:45,560 --> 00:30:47,440
Speaker 5: and you look at the results and you say, well,

498
00:30:47,680 --> 00:30:50,479
Speaker 5: why isn't it working, Why isn't it improving. You look

499
00:30:50,520 --> 00:30:54,600
Speaker 5: at the situation with the illegal marijuana establishments in Los Angeles,

500
00:30:55,000 --> 00:30:58,040
Speaker 5: no check, no balance, and then what they do is say,

501
00:30:58,120 --> 00:31:02,000
Speaker 5: outpriced the legitimate place. But this is just a continuing trend,

502
00:31:02,120 --> 00:31:05,320
Speaker 5: lack of oversight, lack of coordination. But it goes from

503
00:31:05,360 --> 00:31:07,720
Speaker 5: the state level down to the city to the county level,

504
00:31:08,040 --> 00:31:11,160
Speaker 5: and it's a tragedy because these are precious tax dollars

505
00:31:11,520 --> 00:31:14,360
Speaker 5: that are used for a specific purpose, and if legitimate

506
00:31:14,400 --> 00:31:17,120
Speaker 5: businesses did it properly, we'd be a much better, a

507
00:31:17,200 --> 00:31:21,080
Speaker 5: much safer, a much more organized jurisdiction within the city,

508
00:31:21,160 --> 00:31:22,640
Speaker 5: the county, in the state of California.

509
00:31:23,200 --> 00:31:26,000
Speaker 1: As part of this news this week, the President signed

510
00:31:26,040 --> 00:31:29,800
Speaker 1: an executive order creating a new Task Force to Eliminate Fraud,

511
00:31:29,880 --> 00:31:32,520
Speaker 1: which will advise the presidents that we're told in coordinate

512
00:31:32,600 --> 00:31:36,320
Speaker 1: government wide efforts to fight widespread fraud, waste, and abuse

513
00:31:36,360 --> 00:31:40,200
Speaker 1: in federal benefit programs. President Trump has named the Vice

514
00:31:40,280 --> 00:31:43,280
Speaker 1: President as chair of this task force. The Chairman of

515
00:31:43,320 --> 00:31:46,240
Speaker 1: the Federal Trade Commission will serve as vice chair, the

516
00:31:46,360 --> 00:31:49,120
Speaker 1: Assistant to the President for Homeland Security will serve as

517
00:31:49,200 --> 00:31:53,440
Speaker 1: senior advisor, and an executive director will manage daily operations.

518
00:31:53,520 --> 00:31:58,600
Speaker 1: Given that federal firepower overseeing what's happening here. In practical terms,

519
00:31:58,880 --> 00:32:00,840
Speaker 1: how's this going to work with this kind of oversight

520
00:32:01,040 --> 00:32:04,040
Speaker 1: on the city of La indeed the entire state.

521
00:32:05,400 --> 00:32:09,320
Speaker 5: Well, it sounds good. I hope implementation proves effective. I

522
00:32:09,440 --> 00:32:12,600
Speaker 5: know the city controller has talked about the problems just

523
00:32:12,680 --> 00:32:15,800
Speaker 5: with the city of Los Angeles, where there's fraud and abuse, waste,

524
00:32:15,880 --> 00:32:18,520
Speaker 5: fraud and abuse. It's a continuing saga, whether it's at

525
00:32:18,560 --> 00:32:21,200
Speaker 5: the state level, the local level, the national level. It

526
00:32:21,280 --> 00:32:23,840
Speaker 5: seems when those dollars are spent, there's no check to

527
00:32:23,920 --> 00:32:26,600
Speaker 5: see how they're being spent, why they're being spent, what

528
00:32:26,760 --> 00:32:29,760
Speaker 5: the purpose is, and you get the fraud situation. But

529
00:32:29,880 --> 00:32:32,600
Speaker 5: the hospice situation is the most recent. But this is

530
00:32:32,680 --> 00:32:38,680
Speaker 5: not unusual. Federal state dollars go into funds legitimate appears

531
00:32:38,720 --> 00:32:40,560
Speaker 5: to be on the surface, but we don't have any

532
00:32:40,640 --> 00:32:43,040
Speaker 5: follow up. When there is no follow up to determine

533
00:32:43,080 --> 00:32:45,440
Speaker 5: how it's being spent, then you've got the corruption. You

534
00:32:45,520 --> 00:32:48,520
Speaker 5: got this massive problem, and you've got billions of dollars.

535
00:32:48,600 --> 00:32:51,840
Speaker 5: I'm not talking about thousands, I'm talking about billions, ten billions, fifteen,

536
00:32:51,920 --> 00:32:56,040
Speaker 5: twenty billion dollars in these cases that have continually caused

537
00:32:56,080 --> 00:32:58,600
Speaker 5: problems for the taxpayers of America.

538
00:33:00,360 --> 00:33:03,040
Speaker 1: On the line with the honorable Dennis Zine, former La

539
00:33:03,120 --> 00:33:07,680
Speaker 1: City council member and longtime LAPD sergeant with the fifty

540
00:33:07,720 --> 00:33:10,440
Speaker 1: plus years of service to the City of Angels We

541
00:33:10,560 --> 00:33:12,680
Speaker 1: just talked to a Rabbi Abraham Cooper at the Simon

542
00:33:12,760 --> 00:33:16,840
Speaker 1: Wiesenthal Center and Museum of Tolerance about heightened security at

543
00:33:16,920 --> 00:33:20,160
Speaker 1: synagogues and other Jewish institutions here in the Los Angelesyrian

544
00:33:20,200 --> 00:33:26,240
Speaker 1: indeed nationwide as the war in the Middle East continues, denisign,

545
00:33:26,280 --> 00:33:28,560
Speaker 1: what are your impressions about what's going to take to

546
00:33:29,120 --> 00:33:30,840
Speaker 1: ensure security nowadays.

547
00:33:31,760 --> 00:33:34,640
Speaker 5: Well, I know the Los Angeles Police Department has patrols

548
00:33:34,880 --> 00:33:38,240
Speaker 5: that they patrol those religious locations on a regular basis.

549
00:33:38,320 --> 00:33:41,080
Speaker 5: I'm assigned to a division in the San Fernaneto Valley

550
00:33:41,120 --> 00:33:43,880
Speaker 5: and we do those patrols, especially on the times they

551
00:33:43,960 --> 00:33:46,320
Speaker 5: have their services, their worship services.

552
00:33:46,560 --> 00:33:47,920
Speaker 6: But we're very watchful for it.

553
00:33:48,000 --> 00:33:50,960
Speaker 5: But most of the facilities, most of the temples and

554
00:33:51,040 --> 00:33:53,520
Speaker 5: most of the synagogues, most of the establishments where they

555
00:33:53,600 --> 00:33:57,400
Speaker 5: have their worship services, they have private security, armed private security.

556
00:33:57,400 --> 00:34:00,520
Speaker 6: A lot of them have video surveillance, so will prepared.

557
00:34:00,560 --> 00:34:03,920
Speaker 5: They're really well prepared in case something would to take place,

558
00:34:03,960 --> 00:34:06,360
Speaker 5: and it's backed up by what the police department does

559
00:34:06,400 --> 00:34:09,560
Speaker 5: with their limited resources. They've got just a few officers

560
00:34:09,600 --> 00:34:12,480
Speaker 5: each division, each bureau that handles that. But most of

561
00:34:12,560 --> 00:34:15,520
Speaker 5: the religious facilities have their own security and it works

562
00:34:15,560 --> 00:34:18,480
Speaker 5: with the local LAPD to make sure that those worshippers

563
00:34:18,520 --> 00:34:20,200
Speaker 5: are safe during those time services.

564
00:34:21,000 --> 00:34:21,399
Speaker 6: Thank God.

565
00:34:21,760 --> 00:34:24,680
Speaker 1: And with all the big events coming up then designed

566
00:34:25,120 --> 00:34:28,200
Speaker 1: the FEEFA World Cup, then of course the Olympics. Ultimately

567
00:34:28,440 --> 00:34:32,680
Speaker 1: in twenty twenty eight, the expanded subway system being expanded

568
00:34:32,680 --> 00:34:36,200
Speaker 1: along the Wilshire Boulevard into Beverly Hills and Century City

569
00:34:36,360 --> 00:34:39,839
Speaker 1: and so forth. Obviously, with what's going on in the world,

570
00:34:40,120 --> 00:34:43,440
Speaker 1: new concerns about security overall, are we going to be

571
00:34:43,600 --> 00:34:44,200
Speaker 1: prepared for all that?

572
00:34:45,920 --> 00:34:48,239
Speaker 5: I don't know what the number of personnel that the

573
00:34:48,480 --> 00:34:51,360
Speaker 5: local law enforcement has if they can be totally prepared.

574
00:34:51,440 --> 00:34:52,920
Speaker 6: I know I worked the eighty four Olympics.

575
00:34:52,960 --> 00:34:55,760
Speaker 5: We had a lot of personnel assigned twelve hour shifts,

576
00:34:55,760 --> 00:34:58,799
Speaker 5: seven days a week, and it came off very, very successful.

577
00:34:59,120 --> 00:35:00,880
Speaker 5: But you've got to guard the venues. You got to

578
00:35:01,080 --> 00:35:03,680
Speaker 5: reguard the housing, you got to guard the transportation services.

579
00:35:03,800 --> 00:35:06,520
Speaker 5: Everything has to be guarded by police officers and it

580
00:35:06,640 --> 00:35:08,120
Speaker 5: takes a lot of personnel.

581
00:35:07,719 --> 00:35:08,000
Speaker 2: To do that.

582
00:35:08,200 --> 00:35:10,920
Speaker 5: In addition, you still have to police the city, handling

583
00:35:11,040 --> 00:35:14,520
Speaker 5: radio calls for service. So a tremendous rain of resources.

584
00:35:14,960 --> 00:35:16,800
Speaker 5: And when the department shrink sets we've seen in the

585
00:35:16,880 --> 00:35:18,080
Speaker 5: last few years that's shrinking.

586
00:35:17,880 --> 00:35:18,600
Speaker 6: More and more and more.

587
00:35:19,000 --> 00:35:20,800
Speaker 5: You don't have all the resources to do what you

588
00:35:20,880 --> 00:35:23,360
Speaker 5: need to spread the safety around with the community and

589
00:35:23,440 --> 00:35:25,640
Speaker 5: with the subway going through Beverly Hills. I've got friends

590
00:35:25,680 --> 00:35:28,200
Speaker 5: that live in Beverly Hills. They're talking about selling their

591
00:35:28,239 --> 00:35:30,520
Speaker 5: residents to get out before that takes place, because they

592
00:35:30,560 --> 00:35:32,880
Speaker 5: don't think that's going to be a positive environment for

593
00:35:33,080 --> 00:35:34,040
Speaker 5: people in Beverly Hills.

594
00:35:34,080 --> 00:35:36,319
Speaker 6: And we know the homeless situation, the.

595
00:35:36,360 --> 00:35:39,160
Speaker 5: Population that goes into the areas where you've got that

596
00:35:39,320 --> 00:35:41,880
Speaker 5: public transit system, and the situation that takes place with

597
00:35:42,000 --> 00:35:45,040
Speaker 5: that not very positive as far as the safety environment goes.

598
00:35:45,880 --> 00:35:50,360
Speaker 1: Yep, what is the situation with public transportation safety nowadays

599
00:35:50,600 --> 00:35:53,360
Speaker 1: on the metro system and on the buses and so forth.

600
00:35:54,719 --> 00:35:57,640
Speaker 5: Well, we know that they have a new chief in

601
00:35:57,719 --> 00:36:00,799
Speaker 5: that operation, Bill Scott, came down from San Francisco, used

602
00:36:00,840 --> 00:36:03,880
Speaker 5: to be with LAPD good Man. But they need to

603
00:36:03,920 --> 00:36:06,279
Speaker 5: hire a bunch of people. We can't hire enough in

604
00:36:06,440 --> 00:36:08,080
Speaker 5: local law enforcement. I don't know where they're going to

605
00:36:08,120 --> 00:36:12,680
Speaker 5: find the personnel to have a sufficient personnel to police

606
00:36:12,719 --> 00:36:14,480
Speaker 5: those lines. You've got to have safety, and we know

607
00:36:14,600 --> 00:36:16,680
Speaker 5: that there's been a lot of tragedies on the metro

608
00:36:16,840 --> 00:36:19,759
Speaker 5: system already. There's been a number of tragedies, including the

609
00:36:19,880 --> 00:36:23,480
Speaker 5: killings of innocent people. So the concern is you've got

610
00:36:23,520 --> 00:36:25,080
Speaker 5: to have the people to make it safe. And if

611
00:36:25,120 --> 00:36:26,640
Speaker 5: it's not safe, people aren't going to write it. And

612
00:36:26,719 --> 00:36:30,799
Speaker 5: that's going to be a problem because we're spending billions. Again,

613
00:36:30,840 --> 00:36:33,000
Speaker 5: We're not talking about millions. Every time we talk about

614
00:36:33,040 --> 00:36:36,279
Speaker 5: government spending, whether it's state or federal, it's billions. And

615
00:36:36,400 --> 00:36:37,040
Speaker 5: that's the problem.

616
00:36:37,080 --> 00:36:39,000
Speaker 6: We spend it. Let's make sure it's done properly.

617
00:36:39,320 --> 00:36:43,120
Speaker 1: The Honorable dentisign Form Lacity Council member, retired LAPD sergeant,

618
00:36:43,160 --> 00:36:46,560
Speaker 1: current reserve officer. Thank you very much, Denisign for coming

619
00:36:46,600 --> 00:36:49,239
Speaker 1: to the line here. We'll be back again tomorrow with

620
00:36:49,320 --> 00:36:51,399
Speaker 1: more at four here on Motech on Money on seven

621
00:36:51,480 --> 00:36:52,359
Speaker 1: ninety kbs eight