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Speaker 1: I know you get disheartened. We're going to talk about

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Speaker 1: that really quickly. It's gonna take time.

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Speaker 2: Tim Burchett is going to join us, Jeffrey Tucker is

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Speaker 2: gonna join us.

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Speaker 1: All that and more coming up. And I'm right, all right.

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Speaker 2: So I'm just like you when it comes to politics

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Speaker 2: and where we are in the country. I have my

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Speaker 2: days where I am bright and sunny. I have my days,

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Speaker 2: my moments where I'm despondent. I'm ashamed to admit this,

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Speaker 2: but I will admit it to you doing me talking.

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Speaker 2: I have days where I carry it home with me,

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Speaker 2: where I'm watching the news this scandal and that thing,

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Speaker 2: and I walk in the door, wife's there, kids there,

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Speaker 2: and it's like I bring a dark cloud with me.

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Speaker 1: It sucks, right, So I have my days too. Not

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Speaker 1: telling you not to have those days.

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Speaker 2: It's gonna happen when you care about the country, when

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Speaker 2: you're informed about things going on, It's gonna happen, all right.

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Speaker 2: But I'm gonna use an analogy I've used many times

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Speaker 2: before because the more I use it, the more I

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Speaker 2: like it, the more appropriate it seems. If you think

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Speaker 2: about our country, it will make this just about the

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Speaker 2: federal government for now as a skyscraper. You've seen a skyscraper,

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Speaker 2: you know what they are. And of course floors to

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Speaker 2: the skyscraper, and every floor there are different offices, and

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Speaker 2: some offices are better than others.

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Speaker 1: You got that. Think about our country like that skyscraper.

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Speaker 2: A long, long, long time ago, decades ago, the communists

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Speaker 2: decided they needed to infiltrate that skyscraper. Their intention was

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Speaker 2: to rise from the bottom floor all the way up

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Speaker 2: to the penthouse and occupy every office in between. They

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Speaker 2: wanted it all so they could carry out the communist

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Speaker 2: revolution from inside the government, and for decades.

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Speaker 1: They've been doing it.

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Speaker 2: Obviously, they advance, They get promoted up the floors faster

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Speaker 2: when a Democrat is president, but Republicans are useless and weak,

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Speaker 2: So sometimes they get promoted when a republican's president, but

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Speaker 2: they hardly ever get fired. So if you've advanced a

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Speaker 2: few floors up when a Democrat was president, Republican gets

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Speaker 2: in and he pats you on the head and says,

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Speaker 2: everything's okay. Now we you and I we are discovering

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Speaker 2: every day courtesy of the Trump administration.

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Speaker 1: We do have to give them credit for this.

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Speaker 2: Every day it seems like we open up an office

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Speaker 2: on the thirteenth floor, on the twenty fifth floor, on

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Speaker 2: the fifty second floor, and we think, oh my gosh,

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Speaker 2: there's a dirty communist in here. Why is this communist

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Speaker 2: in here? And some of them, for the first time

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Speaker 2: in a long time, some of them are being told

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Speaker 2: pack up his stuff and get out.

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Speaker 1: And that's a good thing. It's a good thing.

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Speaker 2: However, there's a lot of them there. Communists have been

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Speaker 2: working their way through the office, through every floor, and

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Speaker 2: working their way up for decades, and they're not all

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Speaker 2: gone today. They still are there holding critical positions of power.

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Speaker 2: And the truth is it's going to take time to

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Speaker 2: get them all out. You see the latest from James O'Keefe.

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Speaker 2: This is an FBI official.

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Speaker 3: I am a security specialists, so I do a background checks, investigations,

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Speaker 3: that type of stuff. Five years, I don't think there's

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Speaker 3: any like major arrests like with the no also nobody

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Speaker 3: I don't think anybody would ever go to prison.

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Speaker 4: Like that are dealing with behavior stuff.

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Speaker 3: I think by the time that case is done, even

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Speaker 3: being like look that being ready to go to court,

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Speaker 3: Trump won't even be an office like there would would

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Speaker 3: most likely.

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Speaker 4: Be thrown out very quickly.

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Speaker 3: And fraud chases like that, like money stuff.

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Speaker 1: Yeah, years literally years.

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Speaker 3: Sometimes they're going to try and hand on somebody. I

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Speaker 3: was under bit first. Oh yeah that was different, No

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Speaker 3: way different. Everything was better, everything just everything just felt better.

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Speaker 4: People are happier.

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Speaker 1: That's a communist. He's at the FBI.

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Speaker 2: He was happy under Biden because he could use his

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Speaker 2: powers at the FBI and more freely against his political

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Speaker 2: enemies and to aid his political friends. Now I should

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Speaker 2: note that that man has been walked out of the FBI,

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Speaker 2: But this is not a one off. James O'Keefe, God

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Speaker 2: bless him, has caught seven people to date FBI DOJ officials.

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Speaker 2: And these people they're not just there sitting in the office,

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Speaker 2: not just they're just going.

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Speaker 1: About their business. Because they're communists.

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Speaker 2: They believe they are supposed to use their position, whatever

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Speaker 2: floor they're in, whatever off fist they're in at that floor,

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Speaker 2: they believe they are supposed to use their position as.

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Speaker 1: Part of the revolution. They will admit it on camera.

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Speaker 4: Christin huh.

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Speaker 2: So the secretaries can set the priorities for the department,

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Speaker 2: they can't actually tell us.

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Speaker 1: What to do.

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Speaker 5: We don't agree with those priorities.

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Speaker 3: There's a lot of room for interpretations in terms.

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Speaker 4: Of how we interpret what. You don't let them get

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Speaker 4: on a library.

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Speaker 2: Okay, yeah, we're hearing like the real fantom from like

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Speaker 2: we don't let them get in enough proms. In frankly,

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Speaker 2: that's actually I would argue, I'm not even being an

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Speaker 2: auld that's my job.

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Speaker 1: That's my job.

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Speaker 2: My job, yes, to protect the revolution, not to do

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Speaker 2: what I'm told by the boss, the Trump administration.

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Speaker 1: I'm a communist.

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Speaker 2: I have achieved power in that skyscraper, and every single

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Speaker 2: day I do whatever I can do to aid the revolution.

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Speaker 2: There's a lot of these people still in the government,

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Speaker 2: and it can get disheartening if you think it's just

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Speaker 2: going to change like that, because the federal government does

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Speaker 2: not work like.

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Speaker 1: A business does, small or large business.

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Speaker 2: Where you identify a problem, somebody is to find the

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Speaker 2: boss and too bad, so sad we'll have security escort

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Speaker 2: you out of the building.

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Speaker 1: You are gone.

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Speaker 2: That is, sadly not the way the federal government works.

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Speaker 2: These people burrow themselves in there and it takes a

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Speaker 2: long time to get them out. We are fighting a

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Speaker 2: counter revolution. The revolutionaries have been the only ones fighting

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Speaker 2: for years and years and years, working their way up

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Speaker 2: the skyscraper, working their way, worming their way through critical

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Speaker 2: institutions in this country, and it's going to take years.

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Speaker 1: To root them out.

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Speaker 2: If you think about the Trump administration, the second Trump

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Speaker 2: administration as the end all, be all, the last chance

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Speaker 2: we have these this is the only chance we have

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Speaker 2: to get all these people out. You are going to

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Speaker 2: be disappointed and outraged every single day when something good happens.

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Speaker 2: You're never going to be happy. Oh we still have

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Speaker 2: this and we still have that. When you understand that

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Speaker 2: the Trump administration is just step one, that's it.

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Speaker 1: It's just step one.

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Speaker 2: We have one hundred more steps, a thousand more steps

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Speaker 2: we have to take this next three years, it's just

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Speaker 2: step one. Starting to get this one out, starting to

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Speaker 2: get that one out, starting to reform that, starting to

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Speaker 2: reform that.

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Speaker 1: The counter revolution is just starting.

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Speaker 2: We are going to have so many landmines thrown in

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Speaker 2: front of us, We're gonna have so many.

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Speaker 1: Critically important battles.

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Speaker 2: We will lose. This latest thing with the Haitians. We

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Speaker 2: were finally ready to get some Haitians out of our

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Speaker 2: freaking country and back to the dump where they came from,

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Speaker 2: and surprise, surprise, a Joe Biden judge stepped in and

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Speaker 2: stopped it all. No, no, no, no, they have to

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Speaker 2: stay here, bring me.

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Speaker 1: A new cat.

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Speaker 2: It's disheartening if you don't understand what we're dealing with.

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Speaker 2: We are fighting against a decades long communist revolution. We

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Speaker 2: are the counter revolutionaries, and stopping this madness will take time.

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Speaker 2: Not saying don't get angry, get angry, get loud, do

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Speaker 2: not lose heart. All right, hopefully that did not make

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Speaker 2: you uncomfortable, But I am right. A big spending bill

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Speaker 2: one point two trillion dollars that's got to have some

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Speaker 2: bad stuff in it. Well, I'm assuming it did because

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Speaker 2: Congressman Tim Burchett of Tennessee voted against it. We'll ask

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Speaker 2: him specifically, why, We'll ask him this save acting. Is

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Speaker 2: John Thune screwing it up?

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Speaker 1: Is he? How about?

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Speaker 2: But we're gonna talk to the great Congressman Tim Burchett.

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Speaker 2: In a moment before we talked to him, let me

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Speaker 2: talk to you about getting a good night's sleep.

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Speaker 1: Gosh, I slept so good.

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Speaker 2: Last night, got home, dinner, hung out with the fan

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Speaker 2: for a little bit, and then I thought to myself,

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Speaker 2: I've you know, I had an afternoon cup of coffee.

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Speaker 1: I should get some beam, I should get some dream powder.

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Speaker 2: So when I went over and got myself coffee cup,

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Speaker 2: pour a little milk in it, scoop a beam dream

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Speaker 2: powder from beam to hot chocolate, do it in the microwave,

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Speaker 2: pulled it out, mixed.

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Speaker 1: It up, and just sit on some hot chocolate.

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Speaker 2: Went and brushed my teeth because I knew i'd be

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Speaker 2: asleep soon. Eventually just crawled into bed, gone, And when

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Speaker 2: I woke up, I didn't feel like a zombie, exhausted, groggy.

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Speaker 2: I felt great. You want to feel like that every night?

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Speaker 2: To Shopbeam dot com slash Jesse Kelly. It's natural drug

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Speaker 2: free Shopbeam dot com slash Jesse Kelly.

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Speaker 1: We'll be back.

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Speaker 5: The Save Act is an abomination.

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Speaker 6: It's Jim Crow two point zero across the country.

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Speaker 5: We are going to do everything we can to stop it.

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Speaker 1: Jim Crow two point oh.

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Speaker 2: I was actually just going through a little list here

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Speaker 2: on how many Jim Crow two point ohs there have been.

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Speaker 1: I think we're on Jim Crow like twenty point oh

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Speaker 1: at this point in time.

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Speaker 2: Joining me now, a wonderful congressman from the state of Tennessee,

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Speaker 2: Tim Burchett.

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Speaker 1: He's also the new chairman of the Doge.

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Speaker 2: Committee, which is a very very good thing. It warms

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Speaker 2: my cold, cold heart.

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Speaker 1: Tim.

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Speaker 2: How many Jim Crows are we on now? I've lost

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Speaker 2: count of it. I mean, segregations back every other week.

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Speaker 5: I don't know.

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Speaker 7: I think Show is going to cut himself every time

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Speaker 7: he deals one from the race card stack.

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Speaker 4: You know, to me, it's it's.

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Speaker 7: Racist that he thinks that a minority person cannot achieve

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Speaker 7: the ability to get an identification because all we want

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Speaker 7: to do is prove that you're an American citizen to

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Speaker 7: get registered vote, and then when you do vote, you

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Speaker 7: show an ID.

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Speaker 4: It's a very simple bill. That's all they got. They

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Speaker 4: go to the they.

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Speaker 7: Go to the race card and eventually, you know, that's

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Speaker 7: where you're seeing minorities leave the Democrat Party and droves.

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Speaker 7: You know, you see some of those strongest members of

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Speaker 7: our conference are our people that are that are of color.

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Speaker 7: You know, my buddy Byron Donald's probably going to be

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Speaker 7: the next governor of Florida.

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Speaker 4: You know, you've got.

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Speaker 7: All these guys that are that are you know, if

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Speaker 7: it had been twenty or thirty years ago been a

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Speaker 7: different story. But but they're completely are equals, and and

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Speaker 7: that's just the way it should be in America. You know,

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Speaker 7: doctor King said, judge me by the you know it's

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Speaker 7: talking about it. Don't judge me by the color of

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Speaker 7: my skin, but the content of my heart. And I

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Speaker 7: think Chuck Sherman needs to remember that.

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Speaker 2: It's painfully obvious that they just want to cheat in elections.

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Speaker 2: I mean, we can skip past all the other things.

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Speaker 2: As you pointed out, every black person knows how to

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Speaker 2: get a freaking ID. Everyone in the country knows how

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Speaker 2: to get a freaking ID. Everyone has a d m

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Speaker 2: V where they can go wait in line for three

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Speaker 2: hours and get it an ID. Everyone knows this, So

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Speaker 2: we can skip past all these blatantly obvious lives cheating elections.

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Speaker 4: If you buy a Shikes pack a Barry, you gotta

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Speaker 4: show a freaking ID.

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Speaker 2: So the Save Act, I know you wanted it in

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Speaker 2: the legislation that passed, it did not get into the

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Speaker 2: legislation that passed. Can you help us understand why?

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Speaker 7: Yeah, I help you understand why it's not there. Yeah,

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Speaker 7: I mean I had ANX meeting with President Trump. But

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Speaker 7: I mean you know, he's the deal maker in chiefs

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Speaker 7: earlier this week, I guess days kind of run together.

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Speaker 7: But he, you know, we just don't have the votes

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Speaker 7: in the Senate. Phone actually is trying to work with us,

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Speaker 7: and he can't come out and say, yeah, we're going

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Speaker 7: to pass this thing. But I think they're working on

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Speaker 7: an avenue to get it there or get something close

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Speaker 7: to that. And I think that's that's what we need

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Speaker 7: to start looking at more than positive because I and

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Speaker 7: everybody wants me to beat up on thhone, but he

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Speaker 7: just doesn't have the votes. He does not have the votes.

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Speaker 7: You know, we got a one person majority, a one

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Speaker 7: person majority in.

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Speaker 4: The House right now.

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Speaker 7: We are literally one flu season away from I had

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Speaker 7: the flu. During the break, I was laid out. I

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Speaker 7: mean I cleaned our stalls in the bar, and my

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Speaker 7: wife and I take us about an hour. Usually took

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Speaker 7: us over three hours because we both having to lay

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Speaker 7: out on Baila.

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Speaker 4: Hey, look, it's it's.

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Speaker 7: A reality of what of the numbers, and you've got

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Speaker 7: some very liberal Republicans and Ryan or whatever you want

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Speaker 7: to call him, but it's just the reality of what

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Speaker 7: you're where we're at, and we need to move in

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Speaker 7: that direction, and I honestly believe that that leader Throne

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Speaker 7: is working towards that.

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Speaker 2: Okay, well, no, we always want you to give it

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Speaker 2: to a straight We love when you do. So we

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Speaker 2: don't need to come on here and punt John Thune

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Speaker 2: around all the time. If he's trying to do the

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Speaker 2: right thing. We do have fifty one Republicans allegedly in

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Speaker 2: the Senate. Is this kind of and I'm not even

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Speaker 2: actually calling her out because I understand why she is

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Speaker 2: the way she is. Is this a Susan Collins has

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Speaker 2: a tough election thing? Is that the kind of thing

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Speaker 2: we're dealing with here.

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Speaker 7: I think people are just misdirected. I just don't think

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Speaker 7: they get it. I think they do not realize the

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Speaker 7: fact that Donald J. Trump won overwhelmingly across this country

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Speaker 7: and in the House and the Senate, we won by

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Speaker 7: whatever you want to say, two or three percentage points maybe,

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Speaker 7: And the arrogance of elected officials never ceases to amaze me.

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Speaker 7: I tell you better start looking at Trump and his numbers,

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Speaker 7: the deal maker, because what he said resonated with this country.

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Speaker 7: These folks are going to hand us of the minority

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Speaker 7: and then all we're going to see is is uh.

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Speaker 7: You know, we're gonna impeach Trump. We're gonna impeach this person,

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Speaker 7: go piece that, and that's all. They're gonna They're gonna

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Speaker 7: stop everything. They will reverse executive orders. They'll open the

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Speaker 7: borders back grown man, and dresses will be back in

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Speaker 7: little girls dressing rooms and literally and this is what

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Speaker 7: you'll see. You'll see the more the savagery of this

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Speaker 7: transgender mutilation surgery on children. You'll see more the aberration

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Speaker 7: of abortion, and it'll just be unglued. I fear we

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Speaker 7: would lose our country as we know it right now

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Speaker 7: because you have kids now coming out of schools that

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Speaker 7: are saying, hey, man, socialism looks pretty good.

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Speaker 1: Yeah, that's freaking wonderful.

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Speaker 2: You chose not to vote for the one point two

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Speaker 2: trillion dollars spending bill.

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Speaker 1: Can you tell us why?

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Speaker 4: Yeah?

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Speaker 7: Because it had it had languae in there for transgender surgery,

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Speaker 7: it had language in there for abortion. I don't work

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Speaker 7: for anybody in Washington, d C. I work for the

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Speaker 7: people back in the second District of Tennessee brother, and

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Speaker 7: I you know, and I don't care. I catch hell

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Speaker 7: on it up here, you know, brtut, you know, not

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Speaker 7: a team player. And all this Ale team plans. What's

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Speaker 7: got us forty trillion dollars in debt, It's got our

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Speaker 7: schools in decline and all those things. And Trump's trying

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Speaker 7: to reverse all of that. But if we do not

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Speaker 7: get in line of what's going on and what his

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Speaker 7: message is, and we're losing. You know, the big beautiful bill.

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Speaker 7: I put a tweet out on it this morning. I

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Speaker 7: know I get these premonitions. I don't don't come premonitions,

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Speaker 7: but I just get wake up mad about something, you know,

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Speaker 7: And we allow the left to define that as you know,

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Speaker 7: tax breaks for billionaires. Well, how many billionaires you know

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Speaker 7: are working at the thirty three diner in Maynorvile, Tennessee.

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Speaker 4: Back home?

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Speaker 7: You know, these ladies are not going to have to

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Speaker 7: pay taxes on tips now, they're not gonna But if

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Speaker 7: you make between forty and sixty thousand dollars, you're going

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Speaker 7: to see a substantial reduction in your taxes. That is

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Speaker 7: the reality. But we've allowed the left, with no proof whatsoever,

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Speaker 7: to define that bill. And it's a disgrace to Trump

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Speaker 7: because he laid it out there pretty good for us

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Speaker 7: and we could, we should have, and we've allowed the

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Speaker 7: narrative already be switched. It's very tough to get that

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Speaker 7: genie back in the bottle. It's going to take more

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Speaker 7: than Tim Burchett out there messaging it.

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Speaker 2: What's the Tim Birchet go to diner breakfast order. I've

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Speaker 2: always been an over easy eggs, hash browns, maybe some

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Speaker 2: bacon pancake on the side if my wife's not there.

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Speaker 1: Just kind of a very traditional thing. Are you a

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Speaker 1: chicken fried steak? Maae? What what's the Tim Burchet order?

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Speaker 7: I'm not a I'm kind of a health nut, so

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Speaker 7: I stay away from from the pak, from the pancakes.

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Speaker 7: So I have over easy eggs, a little runny, some

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Speaker 7: nice floppy bacon, little crisp on the edges, maybe some

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Speaker 7: good white toast and some butter, and maybe a side

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Speaker 7: of sausages and and of course grits. I'm a grits guy,

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Speaker 7: and uh, but I mix it up. I don't put

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Speaker 7: salt on my grits. I put sugar on my grits.

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Speaker 7: For some reason, That's always been my thing since I

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Speaker 7: was a little boy, and you know, and that's usually

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Speaker 7: my go to I go to the waffle House. I

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Speaker 7: just you know, I guess, I don't know. You know,

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Speaker 7: it's funny you got these people at waffle House. I've

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Speaker 7: been going there for years. I've never had my order

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Speaker 7: mixed up, never had my order mixed up. But you know,

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Speaker 7: I've dealt with professionals at other places.

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Speaker 4: And I can't.

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Speaker 7: Never you never can get anything straight freaking waffle House.

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Speaker 7: They need to be Maybe maybe I need to bring

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Speaker 7: them in before the Doge Committee and just have them

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Speaker 7: straighten out a few things in Washington.

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Speaker 1: Mm hmm. They're always polite, they always get the order right.

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Speaker 2: I go in there with my son's smothered and waffle

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Speaker 2: of course, of course they do. Freaking wonder what yeah, exactly, Yeah,

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Speaker 2: just wonderful, polite every time. What Why are we still

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Speaker 2: funding the Taliban? I know that's not waffle house.

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Speaker 4: Yeah, that's my bill. Because we're crooked.

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Speaker 7: Because I'm convinced there's kick Elon Musk told me that.

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Speaker 4: I hope I didn't. Did I just lose you? Are

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Speaker 4: you still there?

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Speaker 1: No?

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Speaker 7: I'm here, I'm here, okay, Yeah, yeah, because we're crooked.

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Speaker 1: Uh.

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Speaker 7: These NGO so called non government organizations have like a

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Speaker 7: thousand of them then you have the United Nations and

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Speaker 7: it's a it's gotten a little more complex, but it's

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Speaker 7: the Kickmax. It's I mean, you saw it in Minnesota.

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Speaker 7: Fourteen billion dollars are stealing and nobody's even talking about

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Speaker 7: it because we were like, once again, our messaging stinks,

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Speaker 7: and we allow the narrative to be changed. We are

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Speaker 7: still sitting forty I saw Secretary of State yesterday at

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Speaker 7: the White House and he helped me. And now it's

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Speaker 7: it's it's moving the Senate Committee. It's going to the

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Speaker 7: Senate floor, and as soon as Leader Throne brings it

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Speaker 7: to the floor, I suspect. And that would be a

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Speaker 7: good messaging bill for Republicans because Democrats are opposed to it.

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Speaker 7: They're opposed to it, and I would think that would

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Speaker 7: be an easy sell. Why are Democrats opposed to forty

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Speaker 7: million dollars a week of your money going to the

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Speaker 7: talban a week? And I have a memo on my

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Speaker 7: desk from the State Department. Look, I ain't no fan

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Speaker 7: of the State Department. They need to go, but they

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Speaker 7: even said it's over five billion dollars that has gone

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Speaker 7: through these transactions. The State Department says that so it

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Speaker 7: was a classified memo and then it got stamped unclassified

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Speaker 7: and I got my greasy little palls on it.

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Speaker 4: But it's it's the reality of where we're at.

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Speaker 7: We're giving our money away and it flows right back

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Speaker 7: to Washington. And I've said, if we want the majority

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Speaker 7: to regain, to retain their majority, this country needs to

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Speaker 7: see some crooks in chains, drag their ass out of

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Speaker 7: the Capitol in chains, purp walk them and throw it,

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Speaker 7: throw them, bow them in the clank.

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Speaker 2: Tim Maybe one day we shall dying at waffle house together.

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Speaker 2: I appreciate you, sir, Come mesim all right, Jeffrey Tucker

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Speaker 2: is going to join us. We have a new FED

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Speaker 2: chair Chairman of the Federal Reserves, and that whole thing

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Speaker 2: confusing anyway, Jeffrey, give us a little bit of an

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Speaker 2: education on that and other things. In a moment. Let

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Speaker 2: me give you an education. Not that I'm qualified to

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Speaker 2: do so, but I can help you save money. How

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Speaker 2: much you spend every month on your cell phone bill.

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Speaker 2: We had Tea Mobile before we switched to Pure Top,

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Speaker 2: and I would get text notifications whenever it was time

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Speaker 2: to pay the bill, and I swear every month I

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Speaker 2: would look for what one hundred and forty. I remember

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Speaker 2: just being floored and how much money we were spending.

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Speaker 2: Eventually it would think it was over two hundred dollars.

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Speaker 2: That's bonkers.

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Speaker 1: Pure Talk. When we switched, our bill got cut clean

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Speaker 1: in hat. You want to do that. You want to

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Speaker 1: switch to the cell phone company that's.

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Speaker 2: Run by a Vietnam veteran, that shares your values, promotes

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Speaker 2: your values, charges you less. You're not going to sacrifice

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Speaker 2: a thing because they're on the same towers. Go to

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Speaker 2: puretalk dot com slash JESSETV. It's easy, keep your phone,

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Speaker 2: keep your number, Puretalk dot com slash jesse TV.

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Speaker 1: We'll be back. The FED has lost its way.

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Speaker 8: It's lost its way in supervision, it's lost its way

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Speaker 8: in monetary policy. And all this big money on big

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Speaker 8: fancy buildings is just another indication. Why does that matter?

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Speaker 8: Because what matters most of the FED is credibility. The

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Speaker 8: FED has to look like a serious, sober institution.

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Speaker 2: Okay, I'm assuming Jeffrey Tucker was jumping for joy during

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Speaker 2: all that, but we might as well ask him, shall

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Speaker 2: we joining me now? The president of the Brownstone Institute,

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Speaker 2: Jeffrey Talker. Okay, so that's Kevin Walsh, the new head

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Speaker 2: of the FED. I know this is your baby, I'll

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Speaker 2: put it that way.

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Speaker 1: What do you think.

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Speaker 4: About all this?

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Speaker 1: What do you think about him? Should I be jumping

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Speaker 1: for joy? Should I be hiding under my bed?

439
00:23:22,160 --> 00:23:23,840
Speaker 5: I like a lot of what he's written. I have

440
00:23:23,920 --> 00:23:26,040
Speaker 5: to tell you. He's written some things in the Wall

441
00:23:26,040 --> 00:23:28,920
Speaker 5: Street Journal that were just fantastic. He's been a great

442
00:23:28,960 --> 00:23:32,879
Speaker 5: critic of zero interest rate monetary policies we pursued first

443
00:23:32,920 --> 00:23:35,240
Speaker 5: in two thousand and eight and then again in twenty twenty,

444
00:23:35,480 --> 00:23:37,959
Speaker 5: and he points out that they're not only informationary, but

445
00:23:38,040 --> 00:23:43,240
Speaker 5: that they have tremendous consequences for distorting capital structures, which

446
00:23:43,280 --> 00:23:47,400
Speaker 5: is a highly sophisticated critique. I mean sophisticated. You don't

447
00:23:47,440 --> 00:23:52,600
Speaker 5: expect a fancy person to it as well as he

448
00:23:52,680 --> 00:23:57,600
Speaker 5: seems to understand it, you know. Usually so he's not

449
00:23:57,720 --> 00:24:03,199
Speaker 5: mouthing keynesy and cliches or sense about chuttercyclical policies or

450
00:24:03,240 --> 00:24:06,240
Speaker 5: stabilization measures, any of that other kind of stuff. So

451
00:24:06,280 --> 00:24:09,960
Speaker 5: he knows what's what which will make him culpable when

452
00:24:10,000 --> 00:24:13,439
Speaker 5: he probably is going to do the opposite once it

453
00:24:13,480 --> 00:24:16,040
Speaker 5: gets in power. Because you know what you notice from

454
00:24:16,400 --> 00:24:19,320
Speaker 5: FED Board governors is that it doesn't matter really what

455
00:24:19,359 --> 00:24:22,199
Speaker 5: their private views are. They have a job to do,

456
00:24:22,400 --> 00:24:26,040
Speaker 5: and their job is to stabilize the banking system and

457
00:24:26,119 --> 00:24:30,879
Speaker 5: the financial system and the government that sponsors them, regardless

458
00:24:30,920 --> 00:24:34,159
Speaker 5: of what their provacy views are. So they always end

459
00:24:34,240 --> 00:24:37,320
Speaker 5: up this way. I mean, Alan Greenspan was wonderful. Look

460
00:24:37,359 --> 00:24:40,560
Speaker 5: at his writings. He was great, and he came to

461
00:24:40,600 --> 00:24:44,840
Speaker 5: embody a different temperament once he got in that role

462
00:24:44,880 --> 00:24:51,440
Speaker 5: as FED chairman. And even Jerome Powell, you know, he's

463
00:24:51,480 --> 00:24:56,040
Speaker 5: a fascinating character because he didn't like Bim Bernanke's crazy

464
00:24:56,200 --> 00:24:59,920
Speaker 5: zero interests policy. He thought they ruined the Fed's balance sheet.

465
00:25:00,240 --> 00:25:04,320
Speaker 5: He was desperately trying to unwind all the problems from

466
00:25:04,400 --> 00:25:06,800
Speaker 5: two thousand and eight, and he was working on this.

467
00:25:06,880 --> 00:25:10,480
Speaker 5: In twenty nineteen, we saw increases of rates. We saw

468
00:25:10,520 --> 00:25:13,840
Speaker 5: the FED trying to get his hack together, rebalance its

469
00:25:13,880 --> 00:25:17,200
Speaker 5: balance sheet, offload some of the bad assets, and everything

470
00:25:17,280 --> 00:25:21,160
Speaker 5: is going along swimmingly until somebody got to him. And

471
00:25:21,280 --> 00:25:23,320
Speaker 5: I would have loved to been a fly on that

472
00:25:23,400 --> 00:25:28,680
Speaker 5: wall at that luncheon at three Martini luncheon where this happened.

473
00:25:29,280 --> 00:25:34,879
Speaker 5: But by March really earlier as earlier as January, he

474
00:25:35,000 --> 00:25:39,480
Speaker 5: reversed his position, and then I flooded. The economy was

475
00:25:39,800 --> 00:25:43,560
Speaker 5: like six trillion dollars six and a half trillion dollars

476
00:25:43,920 --> 00:25:50,439
Speaker 5: in fresh money delivered directly into the not the banking

477
00:25:50,520 --> 00:25:53,840
Speaker 5: system as such, but to the to the bank accounts

478
00:25:53,880 --> 00:25:59,040
Speaker 5: of Americas to spend however they wanted, and big surprise,

479
00:25:59,359 --> 00:26:04,160
Speaker 5: it created over four years a twenty five thirty maybe

480
00:26:04,200 --> 00:26:09,879
Speaker 5: thirty five percent decline and purchasing power for the dollar.

481
00:26:10,200 --> 00:26:13,040
Speaker 5: So this is Jerome Powell. So he acted in ways

482
00:26:13,040 --> 00:26:15,879
Speaker 5: that were contrary to what he knew he should have

483
00:26:15,920 --> 00:26:19,639
Speaker 5: been doing. He knew this for sure, And so this

484
00:26:19,720 --> 00:26:22,920
Speaker 5: is my concern. Once these guys get the job, they

485
00:26:24,200 --> 00:26:28,679
Speaker 5: do that job as described and it doesn't matter what

486
00:26:28,720 --> 00:26:32,119
Speaker 5: they think privately. So on one hand, I kind of

487
00:26:32,160 --> 00:26:35,000
Speaker 5: want to believe this new guy is he's got the thing,

488
00:26:35,640 --> 00:26:39,879
Speaker 5: but long experience suggests otherwise that he's going to do

489
00:26:39,920 --> 00:26:43,679
Speaker 5: whatever's necessary to keep the banking system aflow, keep the

490
00:26:43,680 --> 00:26:48,720
Speaker 5: financial system going acquius to political needs at the time,

491
00:26:49,119 --> 00:26:52,160
Speaker 5: and I assume that's going to mean an immediate rate cut,

492
00:26:52,200 --> 00:26:55,280
Speaker 5: which could potentially set off a second wave of inplation.

493
00:26:55,960 --> 00:26:59,680
Speaker 1: Sorry for the bad news outstanding.

494
00:27:00,000 --> 00:27:02,760
Speaker 2: Okay, we're all just a little jaded, you know, before

495
00:27:02,800 --> 00:27:06,640
Speaker 2: we get back into the systemic problems that possibly lead

496
00:27:06,720 --> 00:27:09,879
Speaker 2: these guys to losing their minds once they get in office.

497
00:27:10,080 --> 00:27:12,040
Speaker 1: Can you explain to every person.

498
00:27:11,760 --> 00:27:14,679
Speaker 2: Right now who's currently paying seven eight percent on a

499
00:27:14,720 --> 00:27:19,560
Speaker 2: mortgage losing their mind about interest rates why low interest

500
00:27:19,680 --> 00:27:22,119
Speaker 2: rates would be a problem. I hate to ask you

501
00:27:22,160 --> 00:27:24,239
Speaker 2: to do a one oh one class when obviously you're

502
00:27:24,280 --> 00:27:24,879
Speaker 2: a bit passed.

503
00:27:24,920 --> 00:27:26,320
Speaker 1: No, No, I'm glad for a lot of people that

504
00:27:26,359 --> 00:27:27,400
Speaker 1: don't get this education.

505
00:27:27,680 --> 00:27:32,600
Speaker 5: No, I totally get it. In fact, I think I

506
00:27:32,840 --> 00:27:37,040
Speaker 5: might have had an article maybe yesay day before and

507
00:27:37,080 --> 00:27:39,240
Speaker 5: Epock Times explaining all this stuff, because this actually is

508
00:27:39,320 --> 00:27:42,160
Speaker 5: very serious. There's nothing wrong with low interest rates. They're

509
00:27:42,160 --> 00:27:45,040
Speaker 5: great as long as they can be backed up by

510
00:27:45,040 --> 00:27:48,800
Speaker 5: a high degree of savings. Right. So the point is this,

511
00:27:50,240 --> 00:27:53,400
Speaker 5: what are interest rates? They are a reflection of two

512
00:27:53,440 --> 00:27:55,760
Speaker 5: factors of the risk that is not going to be

513
00:27:55,760 --> 00:28:01,359
Speaker 5: paid back and the supplying demand for credit over an

514
00:28:01,359 --> 00:28:03,919
Speaker 5: extended period time. So typically your a yield curve. If

515
00:28:03,920 --> 00:28:07,119
Speaker 5: you're going to borrow thirty years, forty years, five fifty years,

516
00:28:07,240 --> 00:28:09,680
Speaker 5: that introduces more risks. So you're gonna pay a higher rate.

517
00:28:10,080 --> 00:28:12,440
Speaker 5: Then if you borrow money that you're gonna pay back

518
00:28:12,520 --> 00:28:16,560
Speaker 5: tomorrow and you've got a much lower risk and a

519
00:28:16,680 --> 00:28:20,600
Speaker 5: high degree of propensity of payment. But even that will

520
00:28:20,680 --> 00:28:23,000
Speaker 5: change depending on how much capital is in the system.

521
00:28:23,040 --> 00:28:26,359
Speaker 5: If there's more capital to lend, you've got a higher

522
00:28:26,400 --> 00:28:30,400
Speaker 5: supply of credit available, and that credit, that money wants

523
00:28:30,480 --> 00:28:34,040
Speaker 5: to go to work through the credit markets. So borrowers

524
00:28:35,000 --> 00:28:38,800
Speaker 5: take money from those from savers. Savers get rewarded in

525
00:28:38,920 --> 00:28:42,760
Speaker 5: the form of being paid interest, and the borrowers pay

526
00:28:42,800 --> 00:28:47,920
Speaker 5: the interest. That's why it works in and a free

527
00:28:47,920 --> 00:28:51,640
Speaker 5: market with sound money, right, that's great. But if the

528
00:28:51,680 --> 00:28:54,600
Speaker 5: Federal Reserve goes in, it starts to manipulate the interest

529
00:28:54,680 --> 00:28:59,840
Speaker 5: rates and lowers them without the underlying justification that is

530
00:28:59,880 --> 00:29:05,080
Speaker 5: accumulated capital, more loanable funds, more savings. Then you've got

531
00:29:05,120 --> 00:29:09,880
Speaker 5: a distortion that enters into the structures of production. You

532
00:29:09,920 --> 00:29:13,640
Speaker 5: get people taking out big loans for a longer period

533
00:29:13,680 --> 00:29:19,160
Speaker 5: of time, building factories, building homes, big real estate developers, whatever, whatever.

534
00:29:20,200 --> 00:29:24,320
Speaker 5: Where the product comes available, the expectation is that people

535
00:29:24,320 --> 00:29:26,560
Speaker 5: are going to have the funds to be able to

536
00:29:26,840 --> 00:29:31,080
Speaker 5: purchase that which has been produced through these through these

537
00:29:31,120 --> 00:29:34,360
Speaker 5: loan markets, and the producer is going to earn a

538
00:29:34,400 --> 00:29:38,680
Speaker 5: profit and excess of what the interest rate costs. All right,

539
00:29:38,720 --> 00:29:40,480
Speaker 5: that's why it's supposed to work. But when the Fed

540
00:29:40,600 --> 00:29:46,880
Speaker 5: lowers it artificially, it's what I called in the nineteen

541
00:29:46,960 --> 00:29:50,480
Speaker 5: thirties forcing savings. It called it forced savings, which is

542
00:29:50,520 --> 00:29:53,200
Speaker 5: a kind of metaphor to say you're doing something that's

543
00:29:53,720 --> 00:29:57,840
Speaker 5: not justified. There's not enough capital reserves to justify these

544
00:29:57,880 --> 00:30:02,240
Speaker 5: low interests, so the bank basically are ended up creating

545
00:30:02,680 --> 00:30:06,400
Speaker 5: money out of a demand that is not going to

546
00:30:06,440 --> 00:30:09,320
Speaker 5: be sustained over the long period of time. So it

547
00:30:09,880 --> 00:30:13,880
Speaker 5: tends to be inflationary for that reason, just because lower

548
00:30:13,920 --> 00:30:18,920
Speaker 5: interest rates mean more money flooding the economy, and if

549
00:30:18,920 --> 00:30:22,800
Speaker 5: that is not backed by you know, equivalent a rate

550
00:30:22,840 --> 00:30:27,200
Speaker 5: of economic growth, which it rarely is, then you're going

551
00:30:27,280 --> 00:30:30,960
Speaker 5: to get inflationary pressure. So that's the real danger. So

552
00:30:31,640 --> 00:30:35,720
Speaker 5: here's the problem. The Fed doesn't really know what the

553
00:30:35,920 --> 00:30:39,400
Speaker 5: interest rate should be, and it doesn't really know what

554
00:30:39,440 --> 00:30:42,200
Speaker 5: the shape of the yield curve should be, how steep

555
00:30:42,600 --> 00:30:44,480
Speaker 5: or flat it should be. It doesn't know any of

556
00:30:44,480 --> 00:30:48,040
Speaker 5: these things, but it moves on the short term interest,

557
00:30:48,080 --> 00:30:49,880
Speaker 5: which is the only thing that they can really control

558
00:30:50,080 --> 00:30:52,000
Speaker 5: in what ways that presume that they know what it's

559
00:30:52,000 --> 00:30:54,720
Speaker 5: supposed to be. But they're acting kind of like as

560
00:30:54,760 --> 00:30:58,840
Speaker 5: central planners. This is the position that monetary policy has

561
00:30:58,880 --> 00:31:02,240
Speaker 5: put them in, acting on information that may be false.

562
00:31:02,360 --> 00:31:05,560
Speaker 5: Maybe they're making stuff up, maybe they're responding to politics.

563
00:31:05,920 --> 00:31:08,479
Speaker 5: And I'm afraid that's what's going to happen. Worsh has

564
00:31:08,560 --> 00:31:13,160
Speaker 5: been that's his name, right, Worsh. He's being named in

565
00:31:13,200 --> 00:31:17,880
Speaker 5: this position to accommodate the political interest for much lower

566
00:31:17,920 --> 00:31:20,880
Speaker 5: interest rates. And I just don't see that that's really

567
00:31:21,000 --> 00:31:25,440
Speaker 5: justified by what I'm seeing in terms of savings. We

568
00:31:25,480 --> 00:31:31,600
Speaker 5: live in a world of unbelievable debt on all sides, corporations, consumers,

569
00:31:31,640 --> 00:31:35,080
Speaker 5: and governments. This is not the time to be encouraging

570
00:31:35,560 --> 00:31:36,520
Speaker 5: more of that.

571
00:31:39,640 --> 00:31:40,720
Speaker 1: Trump is out there.

572
00:31:40,840 --> 00:31:44,000
Speaker 2: Well, there's a clip that well many people have seen

573
00:31:44,040 --> 00:31:48,400
Speaker 2: by now, talking about the desire to keep housing prices up.

574
00:31:48,600 --> 00:31:52,520
Speaker 6: Here he was here was existing housing people that own

575
00:31:52,600 --> 00:31:53,320
Speaker 6: their homes.

576
00:31:53,840 --> 00:31:55,440
Speaker 5: We're going to keep them wealthy.

577
00:31:55,560 --> 00:31:58,480
Speaker 6: We're going to keep those prices up. We're not going

578
00:31:58,480 --> 00:32:01,440
Speaker 6: to destroy the value of their home so that somebody

579
00:32:01,480 --> 00:32:03,880
Speaker 6: that didn't work very hard can buy a home. We're

580
00:32:03,880 --> 00:32:05,920
Speaker 6: going to get we're going to make it easier to buy,

581
00:32:05,920 --> 00:32:08,440
Speaker 6: We're gonna get interest rates down. But I want to

582
00:32:08,480 --> 00:32:10,520
Speaker 6: protect the people that, for the first time in their

583
00:32:10,560 --> 00:32:13,520
Speaker 6: lives feel good about themselves. They feel like they've you know,

584
00:32:13,760 --> 00:32:17,000
Speaker 6: that they're wealthy people, and I want them to understand it.

585
00:32:17,080 --> 00:32:19,080
Speaker 6: You know, there's so much talk about, oh, we're going

586
00:32:19,160 --> 00:32:21,840
Speaker 6: to drive housing prices down. I don't want to drive

587
00:32:21,880 --> 00:32:24,440
Speaker 6: housing prices down. I want to drive housing prices up.

588
00:32:26,600 --> 00:32:30,800
Speaker 1: Okay, very blunt in Trump's own way. Can you explain

589
00:32:31,000 --> 00:32:32,920
Speaker 1: what's happening here? Uh?

590
00:32:33,240 --> 00:32:36,080
Speaker 5: Yeah. During the campaign he said exactly the opposite. He

591
00:32:36,120 --> 00:32:38,800
Speaker 5: wanted housing prices to drop twenty and thirty percent, and

592
00:32:38,960 --> 00:32:41,760
Speaker 5: that was very encouraging for a lot of people who

593
00:32:41,760 --> 00:32:44,680
Speaker 5: are locked out of the markets right now. So it's

594
00:32:44,800 --> 00:32:47,600
Speaker 5: just a little striking that now he's saying exactly the

595
00:32:47,640 --> 00:32:52,000
Speaker 5: opposite thing, and he's trying to boost the housing industry

596
00:32:52,280 --> 00:32:55,840
Speaker 5: entirely on the side of the loan markets by driving

597
00:32:55,960 --> 00:33:01,000
Speaker 5: interest rates down while protecting what he believes are his constituents,

598
00:33:01,200 --> 00:33:06,680
Speaker 5: a gas or his generation. More like, by promising that

599
00:33:06,760 --> 00:33:08,880
Speaker 5: housing prices are not going to go down for them.

600
00:33:09,120 --> 00:33:10,920
Speaker 5: I don't know, you know, you know I went to

601
00:33:11,040 --> 00:33:14,000
Speaker 5: listen to that. I thought, you know what, I just

602
00:33:14,040 --> 00:33:16,280
Speaker 5: don't think this is the job of the president to

603
00:33:16,480 --> 00:33:21,160
Speaker 5: decide what housing prices should be or not be. I'm

604
00:33:21,200 --> 00:33:24,880
Speaker 5: just old fashioned that way. I just don't think this

605
00:33:24,680 --> 00:33:27,120
Speaker 5: is this is the job. But you know, it speaks

606
00:33:28,000 --> 00:33:30,760
Speaker 5: so I think when you when you see Trump speaking

607
00:33:30,760 --> 00:33:36,320
Speaker 5: about matters of economics, what you're really listening to is

608
00:33:36,640 --> 00:33:40,280
Speaker 5: a businessman, a real estate developer. And if you remember that,

609
00:33:40,360 --> 00:33:44,920
Speaker 5: then everything else is predictable. So as businessmen, as property developers,

610
00:33:45,520 --> 00:33:49,160
Speaker 5: he wants mar A Lago to be as highly valued

611
00:33:49,200 --> 00:33:52,440
Speaker 5: in the markets as possible. And like when he bought

612
00:33:52,440 --> 00:33:54,440
Speaker 5: that property, he bought all the other properties around it

613
00:33:54,480 --> 00:33:58,480
Speaker 5: precisely because he wanted to reduce competition and wanted to

614
00:33:58,480 --> 00:34:01,480
Speaker 5: create a kind of monopoly lanmdman for himself, which is great,

615
00:34:01,600 --> 00:34:04,120
Speaker 5: it's great when that happens in private markets. But this

616
00:34:04,200 --> 00:34:07,320
Speaker 5: is the way he thinks the And the other part

617
00:34:07,360 --> 00:34:10,760
Speaker 5: of that is that as a guy, as a businessman

618
00:34:10,800 --> 00:34:14,160
Speaker 5: who's been dealing with real estate debt all of his life.

619
00:34:14,200 --> 00:34:17,680
Speaker 5: I mean, he grew up in a generation where if

620
00:34:17,719 --> 00:34:20,440
Speaker 5: the money was available to be borrowed. It definitely should

621
00:34:20,480 --> 00:34:22,920
Speaker 5: be borrowed, right, So his whole life is a businessman

622
00:34:22,960 --> 00:34:25,759
Speaker 5: has been levered up as high as possible. You'd be

623
00:34:25,920 --> 00:34:30,760
Speaker 5: crazy to not take every bit of of loanable funds

624
00:34:30,760 --> 00:34:32,879
Speaker 5: that are made available for you and put it into

625
00:34:32,880 --> 00:34:36,000
Speaker 5: play and hopes that you're going to out your profits

626
00:34:36,000 --> 00:34:39,040
Speaker 5: are going to outpace your rate of interest. So when

627
00:34:39,480 --> 00:34:43,520
Speaker 5: he talks about oh one other things, when a guy

628
00:34:43,640 --> 00:34:47,280
Speaker 5: like Trump is in the real estate markets out borrowing money,

629
00:34:47,600 --> 00:34:50,960
Speaker 5: he's making the banks compete for his business. So he's

630
00:34:51,000 --> 00:34:52,879
Speaker 5: out there saying, I want a lower rate. I want

631
00:34:52,880 --> 00:34:54,759
Speaker 5: a lower rate. I'm good for it. This is a

632
00:34:54,800 --> 00:34:57,080
Speaker 5: great project. My casino is going to do great. My

633
00:34:57,440 --> 00:35:00,480
Speaker 5: golf club's going to golf club is going to be wonderful.

634
00:35:00,520 --> 00:35:03,239
Speaker 5: You'll see if that bank doesn't give him a low

635
00:35:03,320 --> 00:35:05,040
Speaker 5: en afraid, he's going to compete it against So this

636
00:35:05,080 --> 00:35:08,160
Speaker 5: is the way they do business. So he identifies a

637
00:35:08,239 --> 00:35:13,600
Speaker 5: low rates as being a good deal, right, But it's

638
00:35:13,640 --> 00:35:17,640
Speaker 5: different when you're talking about an entire country, an entire nation,

639
00:35:18,360 --> 00:35:21,840
Speaker 5: and the dollar. He says, we want the lowest rates

640
00:35:21,840 --> 00:35:25,640
Speaker 5: in the world. It's such a strange statement because he's

641
00:35:25,640 --> 00:35:28,160
Speaker 5: speaking as like a real estate developer who wants a

642
00:35:28,200 --> 00:35:32,080
Speaker 5: good deal. But a nation with the lowest rates in

643
00:35:32,120 --> 00:35:34,760
Speaker 5: the world is also going to be playing with fire

644
00:35:34,960 --> 00:35:40,520
Speaker 5: because it'll eventually end up with unbelievable inflation. So I'm

645
00:35:40,520 --> 00:35:43,359
Speaker 5: not exactly predicting a second wave here, I'm just saying

646
00:35:43,400 --> 00:35:47,799
Speaker 5: that it's a danger if they follow these policies. There's

647
00:35:47,800 --> 00:35:49,920
Speaker 5: one other thing I wanted to say about Trump and

648
00:35:49,960 --> 00:35:55,839
Speaker 5: his attitude is as a businessman, Yeah, so you want

649
00:35:55,880 --> 00:35:59,040
Speaker 5: as much leverage as possible, you want to be the

650
00:35:59,080 --> 00:36:02,120
Speaker 5: only player in town, and you want to maintain your

651
00:36:02,440 --> 00:36:05,120
Speaker 5: real estate values as high as possible. So he's kind

652
00:36:05,120 --> 00:36:10,240
Speaker 5: of speaking for legacy homeowners, not the people who want

653
00:36:10,440 --> 00:36:13,440
Speaker 5: to get into the market. The only way you're going

654
00:36:13,480 --> 00:36:16,840
Speaker 5: to make homes affordable in this country again is with

655
00:36:16,920 --> 00:36:19,319
Speaker 5: a great greater deal of supply. That's going to drive

656
00:36:19,360 --> 00:36:23,239
Speaker 5: down prices. And yeah, that's going to be a problem

657
00:36:23,320 --> 00:36:27,560
Speaker 5: for legacy owners that think they're rich, but it's but

658
00:36:28,160 --> 00:36:30,560
Speaker 5: that's just what you need in a market that's going

659
00:36:30,600 --> 00:36:34,960
Speaker 5: to be more inclusive. One final comment about this, So

660
00:36:35,040 --> 00:36:38,520
Speaker 5: he talks about how the people who are existing homeowners

661
00:36:38,920 --> 00:36:42,600
Speaker 5: imagine themselves to be rich. Okay, keep in mind These

662
00:36:42,640 --> 00:36:47,080
Speaker 5: are unrealized gains. Right if you bought a house at

663
00:36:47,480 --> 00:36:50,520
Speaker 5: five hundred thousand and now it's worth's one point three million.

664
00:36:51,440 --> 00:36:55,000
Speaker 5: That looks very beautiful on paper, but your only satisfaction

665
00:36:55,560 --> 00:36:59,720
Speaker 5: is in looking at Zillow. You know, actually that's not bunny,

666
00:37:00,080 --> 00:37:03,400
Speaker 5: not actually yours until you put the market, Until you

667
00:37:03,400 --> 00:37:05,360
Speaker 5: put the thing on the market. That takes something else.

668
00:37:05,800 --> 00:37:11,440
Speaker 5: These high valuations have resulted in is higher property taxes,

669
00:37:11,719 --> 00:37:14,439
Speaker 5: which is, you know, the biggest scandal that you can

670
00:37:14,440 --> 00:37:19,480
Speaker 5: ever imagine. Imagine yourself, you know, an aging pensioner with

671
00:37:20,239 --> 00:37:23,000
Speaker 5: having paid off your house twenty years ago and you're

672
00:37:23,040 --> 00:37:28,040
Speaker 5: living happily with no real income stream, but your valuations

673
00:37:28,120 --> 00:37:30,000
Speaker 5: or your house are going higher and hire and the

674
00:37:30,040 --> 00:37:35,479
Speaker 5: county clerk comes along, I type some keys on a computer, says, oh, look,

675
00:37:35,480 --> 00:37:38,600
Speaker 5: your house is worth thirty percent more than the last

676
00:37:38,600 --> 00:37:41,719
Speaker 5: time I assessed. That your taxes are now up and

677
00:37:41,760 --> 00:37:45,440
Speaker 5: we're talking you know some houses in the Northeast in particular,

678
00:37:46,040 --> 00:37:50,240
Speaker 5: that the taxes are just beyond belief. I mean they're

679
00:37:50,360 --> 00:37:53,000
Speaker 5: higher than our mortgage and other parts of the country,

680
00:37:53,160 --> 00:37:57,560
Speaker 5: so this could be extremely punishing. Higher property values in

681
00:37:57,640 --> 00:38:01,960
Speaker 5: your house can lead to essentially you know, the potential

682
00:38:02,000 --> 00:38:10,040
Speaker 5: for bankruptcy and foreclosure because of the property tax problem.

683
00:38:10,920 --> 00:38:13,719
Speaker 2: Yeah, I live in Texas, and while I don't want

684
00:38:13,760 --> 00:38:17,120
Speaker 2: to complain too loudly, so people from California don't strangle me.

685
00:38:17,160 --> 00:38:20,040
Speaker 2: Our tax burden overall is not brutal here, but the

686
00:38:20,160 --> 00:38:23,520
Speaker 2: property taxes are. When I first moved to this state,

687
00:38:24,440 --> 00:38:26,839
Speaker 2: it was a second mortgage when I saw because they

688
00:38:26,880 --> 00:38:28,239
Speaker 2: have to weave it into the mortgage and all that,

689
00:38:28,760 --> 00:38:31,480
Speaker 2: it's like your mortgage doubles for it. And you're looking

690
00:38:31,520 --> 00:38:33,839
Speaker 2: around thinking this can't be right. It's this some kind

691
00:38:33,840 --> 00:38:36,399
Speaker 2: of a misprint. But it's not a misprint at all,

692
00:38:36,440 --> 00:38:37,480
Speaker 2: and it's just anyway.

693
00:38:37,800 --> 00:38:40,560
Speaker 5: I like, these markets are so crazy. You look at

694
00:38:40,560 --> 00:38:43,920
Speaker 5: this ticket price of houses and you think, okay, well,

695
00:38:43,920 --> 00:38:45,880
Speaker 5: this is three hundred and fifty thousand dollars house. But

696
00:38:45,960 --> 00:38:49,920
Speaker 5: once you include the mortgage and the taxes and you

697
00:38:49,920 --> 00:38:52,120
Speaker 5: know all the other fees involved, you're going to pay

698
00:38:52,280 --> 00:38:55,560
Speaker 5: double triple and sometimes quadruple over the lifetime of your

699
00:38:55,560 --> 00:38:59,640
Speaker 5: mortgage for the same thing. So you know, buyer beware.

700
00:39:00,520 --> 00:39:04,279
Speaker 5: Sometimes renting is you know a better deal. You live

701
00:39:04,320 --> 00:39:07,279
Speaker 5: in Texas, that's great, I tell you what. In the Northeast.

702
00:39:07,800 --> 00:39:10,680
Speaker 5: Oh my goodness, look up some of the property taxes

703
00:39:11,080 --> 00:39:13,840
Speaker 5: in the Northeast. People are paying twenty thirty, forty to

704
00:39:13,920 --> 00:39:21,920
Speaker 5: fifty sometimes six figures and property taxes alone. It's unbe unbelievable.

705
00:39:22,080 --> 00:39:25,160
Speaker 5: But people pay. And for what For police that don't work,

706
00:39:25,239 --> 00:39:28,000
Speaker 5: schools that suck your roads with potholes.

707
00:39:28,160 --> 00:39:30,560
Speaker 1: I mean, I get to tell you stories.

708
00:39:30,760 --> 00:39:32,040
Speaker 5: It is so sad.

709
00:39:35,280 --> 00:39:37,399
Speaker 1: All right, I have to ask you about this.

710
00:39:37,760 --> 00:39:41,120
Speaker 2: Josh Holly, Senator Josh Holly sat down with our mutual

711
00:39:41,200 --> 00:39:42,840
Speaker 2: friend doctor Jay said this.

712
00:39:43,600 --> 00:39:45,920
Speaker 9: Don't you think to restore public trust is important that

713
00:39:45,960 --> 00:39:49,319
Speaker 9: we level with the American people, that there's transparency, that

714
00:39:49,400 --> 00:39:51,680
Speaker 9: we correct the record and say, here's actually what your

715
00:39:51,719 --> 00:39:54,080
Speaker 9: government did with your tax money. And we were told

716
00:39:54,120 --> 00:39:57,720
Speaker 9: over and over and over and over, no tax money

717
00:39:57,760 --> 00:39:59,400
Speaker 9: ever went to WUHAN, no gain.

718
00:39:59,280 --> 00:40:00,920
Speaker 1: Of function research. That was a lie.

719
00:40:01,160 --> 00:40:04,439
Speaker 9: That was a lie from the leaders of NIH at

720
00:40:04,480 --> 00:40:07,880
Speaker 9: the time. I think those lies need to be corrected

721
00:40:08,080 --> 00:40:10,840
Speaker 9: and the facts, all of the facts, however sorted and

722
00:40:10,960 --> 00:40:14,040
Speaker 9: unpleasant they may be for the institution, need to come

723
00:40:14,080 --> 00:40:17,280
Speaker 9: out so that the public can say, Okay, we've cleaned

724
00:40:17,280 --> 00:40:19,719
Speaker 9: house here, We've got some confidence in what our own

725
00:40:19,800 --> 00:40:21,879
Speaker 9: government is doing with our tax money. Don't you agree

726
00:40:21,920 --> 00:40:22,200
Speaker 9: with that?

727
00:40:22,400 --> 00:40:25,279
Speaker 5: I do agree with that. After a patient dies in

728
00:40:25,280 --> 00:40:28,760
Speaker 5: a hospital, there's often a conference, a morbidity immortality conference,

729
00:40:28,760 --> 00:40:31,080
Speaker 5: where there's just an honest conversation what went wrong?

730
00:40:31,560 --> 00:40:34,400
Speaker 1: I think that the United States desperately needs that, desperately.

731
00:40:34,440 --> 00:40:36,600
Speaker 9: Well, will you make that a priority in your time.

732
00:40:37,440 --> 00:40:41,520
Speaker 5: In IH Happy to collaborate with you and others in Congress.

733
00:40:41,120 --> 00:40:41,759
Speaker 1: To make that good.

734
00:40:41,800 --> 00:40:43,399
Speaker 9: I think it's absolutely.

735
00:40:44,840 --> 00:40:46,399
Speaker 1: Yeah, hard to complain about that.

736
00:40:47,680 --> 00:40:51,480
Speaker 5: Well that was music Today's ears, right, I mean, all

737
00:40:51,600 --> 00:40:55,240
Speaker 5: day long, it's surrounded by people saying, don't disclose, don't look,

738
00:40:55,320 --> 00:40:59,400
Speaker 5: don'tant to investigate, don't talk about what happened. So but

739
00:40:59,520 --> 00:41:02,120
Speaker 5: it sits. And you saw his exchanges with Bernie Sanders,

740
00:41:02,120 --> 00:41:04,880
Speaker 5: which another subject entirely. So he sits down and he

741
00:41:04,880 --> 00:41:08,879
Speaker 5: here's a senator actually is saying something sensible. I can

742
00:41:08,960 --> 00:41:12,840
Speaker 5: just tell you, you know, quite frankly, as a friend of Jay's,

743
00:41:12,600 --> 00:41:15,439
Speaker 5: that kind of stuff just warms his heart. He's been

744
00:41:15,920 --> 00:41:21,319
Speaker 5: desperate for some kind of investigatory commissions that's honest and

745
00:41:21,400 --> 00:41:25,879
Speaker 5: truthful about COVID. He really wants what is increasingly being

746
00:41:25,880 --> 00:41:30,520
Speaker 5: called COVID justice. Right. We need COVID justice, and that

747
00:41:30,719 --> 00:41:36,200
Speaker 5: justice has to begin with information and truth. We're getting

748
00:41:36,239 --> 00:41:38,600
Speaker 5: it a little bit more at a time, but it's

749
00:41:38,680 --> 00:41:43,240
Speaker 5: just not systematic, and it's not nationwide. I'm really hoping

750
00:41:43,280 --> 00:41:46,319
Speaker 5: at some point that the Senate itself will put out

751
00:41:46,440 --> 00:41:52,120
Speaker 5: a very strongly worded resolution that everything about the pandemic response,

752
00:41:52,239 --> 00:41:54,520
Speaker 5: not just the creation of the virus, but the way

753
00:41:54,560 --> 00:41:58,920
Speaker 5: we responded to it with church closers and school closures

754
00:41:59,280 --> 00:42:03,880
Speaker 5: and brutal business closures and force masking and then forced

755
00:42:03,880 --> 00:42:08,760
Speaker 5: injections and plexiglass everywhere, and oh, just what a time.

756
00:42:09,239 --> 00:42:11,799
Speaker 5: I would love to see a clean and clear and

757
00:42:11,840 --> 00:42:16,200
Speaker 5: relatively short Senate resolution that repudiates all those policies and

758
00:42:16,280 --> 00:42:20,280
Speaker 5: says we will never do anything like this ever again.

759
00:42:20,480 --> 00:42:22,279
Speaker 5: I think that would be a great start, and I

760
00:42:22,320 --> 00:42:25,760
Speaker 5: know Jay backs that idea too. I think he's doing

761
00:42:26,239 --> 00:42:29,640
Speaker 5: a tremendous job insofar as it's possible as ahead of

762
00:42:29,680 --> 00:42:36,200
Speaker 5: the NIH.

763
00:42:33,520 --> 00:42:35,560
Speaker 2: Jeffrey, I mean, I could always have you on for

764
00:42:35,600 --> 00:42:37,560
Speaker 2: an hour, but sadly I must let you go. I

765
00:42:37,560 --> 00:42:45,640
Speaker 2: appreciate you very much, sir. Come back, except I'm talking

766
00:42:45,640 --> 00:42:47,200
Speaker 2: to me. I'm not even talking to you here. I'm

767
00:42:47,200 --> 00:42:52,319
Speaker 2: talking to me. Accept whatever accountability you get when it

768
00:42:52,400 --> 00:42:55,040
Speaker 2: comes to the COVID era. I don't know if this

769
00:42:55,160 --> 00:42:57,800
Speaker 2: happens to you, but whenever I play any of these clips,

770
00:42:57,840 --> 00:43:01,120
Speaker 2: right I've watched these things on the news, I can

771
00:43:01,160 --> 00:43:03,799
Speaker 2: feel my blood pressure going up because I remember when

772
00:43:03,800 --> 00:43:06,200
Speaker 2: the federal government, state government's local governments.

773
00:43:06,239 --> 00:43:07,719
Speaker 1: I remember when they did that to us.

774
00:43:08,200 --> 00:43:10,719
Speaker 2: It makes me angry all over again, and I immediately

775
00:43:10,719 --> 00:43:16,080
Speaker 2: I think to myself, same thing, you're thinking. We're never

776
00:43:16,120 --> 00:43:19,560
Speaker 2: gonna get justice on this earth for all that, So

777
00:43:19,719 --> 00:43:23,600
Speaker 2: whenever we get a little bit of it something it's

778
00:43:23,640 --> 00:43:24,440
Speaker 2: worth celebrating.

779
00:43:25,280 --> 00:43:26,920
Speaker 1: I'll tell you what I'm grateful for this.

780
00:43:28,000 --> 00:43:30,080
Speaker 2: If it weren't for COVID, I wouldn't have found Chok,

781
00:43:31,200 --> 00:43:35,800
Speaker 2: not your herbal supplements from Chalk. Chalk got in front

782
00:43:35,800 --> 00:43:41,640
Speaker 2: of me because Chok was out there loudly saying social distancing.

783
00:43:41,719 --> 00:43:42,719
Speaker 5: What this is?

784
00:43:42,880 --> 00:43:43,480
Speaker 1: Bonkers?

785
00:43:43,520 --> 00:43:45,960
Speaker 2: What are we doing? Take your stupid mask off? And

786
00:43:46,000 --> 00:43:48,720
Speaker 2: I thought, who are these guys? Found out their hardcore

787
00:43:48,760 --> 00:43:52,400
Speaker 2: anti communists, And then I found out that taking a

788
00:43:52,440 --> 00:43:55,239
Speaker 2: male vitality stack from chalk every day. By the way,

789
00:43:55,239 --> 00:43:59,080
Speaker 2: they have female vitality stacks. Male vitality stack from chalk

790
00:43:59,280 --> 00:44:03,640
Speaker 2: every day keeps the doctor away. That's why I do it.

791
00:44:03,640 --> 00:44:05,799
Speaker 2: It's not that I just am full of energy now.

792
00:44:05,840 --> 00:44:08,520
Speaker 2: It's not that my mood is wonderful now. I am

793
00:44:08,640 --> 00:44:13,680
Speaker 2: so grateful that I discovered chalk four years now with

794
00:44:13,760 --> 00:44:16,560
Speaker 2: a male vitality stack flowing through my veins.

795
00:44:17,320 --> 00:44:19,200
Speaker 1: Try it. You are ninety.

796
00:44:18,960 --> 00:44:21,239
Speaker 2: Days away from feeling like a new person. And when

797
00:44:21,239 --> 00:44:24,520
Speaker 2: you do see the doctor, he's gonna say, oh my gosh,

798
00:44:24,719 --> 00:44:28,959
Speaker 2: your blood work. Chuck dot com slash Jesse TV.

799
00:44:29,520 --> 00:44:41,160
Speaker 1: We'll be back, all right. It is time to lighten

800
00:44:41,200 --> 00:44:41,560
Speaker 1: the mood.

801
00:44:42,239 --> 00:44:45,640
Speaker 2: And normally in this segment we bring you a video

802
00:44:46,080 --> 00:44:48,839
Speaker 2: or a funny story, something to really brighten your day.

803
00:44:48,880 --> 00:44:52,280
Speaker 1: But honestly, I need to apologize.

804
00:44:52,800 --> 00:44:55,920
Speaker 2: I was so focused on giving out my free book

805
00:44:56,280 --> 00:44:58,440
Speaker 2: Jesse Kelly dot com. By the way, just go to

806
00:44:58,520 --> 00:45:00,799
Speaker 2: Jesse Kelly dot com, put in your email address, will

807
00:45:00,840 --> 00:45:03,840
Speaker 2: send you a free book. Anyway, I was so focused

808
00:45:03,880 --> 00:45:07,080
Speaker 2: on the free book that I lost sight of the

809
00:45:07,160 --> 00:45:13,040
Speaker 2: fact it's Black History Month, and that's obviously a huge,

810
00:45:13,239 --> 00:45:17,839
Speaker 2: huge thing on this show. So we just felt the

811
00:45:17,880 --> 00:45:30,280
Speaker 2: need to once again honor a civil rights icon. Yeah,

812
00:45:30,680 --> 00:45:34,359
Speaker 2: we shall overcome. I'll see it them all