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Speaker 1: Hey, guys, ready or not, twenty twenty four is here

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Speaker 1: and we here at breaking points, are already thinking of

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Speaker 1: ways we can up our game for this critical election.

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Speaker 2: We rely on our premium subs to expand coverage, upgrade

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Speaker 2: the studio ad staff give you, guys, the best independent.

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Speaker 3: Coverage that is possible.

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Speaker 2: If you like what we're all about, it just means

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Speaker 2: the absolute world to have your support. But enough with that,

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Speaker 2: let's get to the show.

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Speaker 4: Everything.

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Speaker 3: Good morning, everybody, Happy Tuesday. We have an amazing show

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Speaker 3: for everybody today.

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Speaker 1: What do we have, Crystal, indeed we do we have

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Speaker 1: Former President Trump has a court date today. We will

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Speaker 1: tell you what to expect and also what is going

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Speaker 1: on with his legal team and the judge that's been

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Speaker 1: assigned to the case and all of those details. We

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Speaker 1: also have new details about the Ukrainian counter offensive and

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Speaker 1: how that is going. New numbers about the economy, foreclosures

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Speaker 1: are rising, and also outwn with San Francisco really struggling

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Speaker 1: already seems to be in that sort of like doom

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Speaker 1: loop situation, So we'll tell you about all of that.

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Speaker 1: We also have some new legal wrangling between Tucker Carlson

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Speaker 1: and Fox News. They actually sent him a cease and

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Speaker 1: assist and Chuck Grassley making some pretty interesting comments on

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Speaker 1: the floor about President Biden with regards to those alleged

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Speaker 1: payments with Barisma five million dollars Ukraine, etcetera.

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Speaker 5: So we'll tell you about that.

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Speaker 1: We have James Vanderbeek, he is the actor who became

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Speaker 1: famous in Dawson's Creek, to talk about the Democratic primaries

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Speaker 1: and how he became Fox News's favorite Democrat, how he.

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Speaker 5: Feels about that.

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Speaker 1: But before we get to any of that, we want

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Speaker 1: to say thank you all so much for the incredibly

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Speaker 1: supportive comments and also the wonderful feedback about the new set,

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Speaker 1: which we are super excited about and also still getting

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Speaker 1: our sea legs around and figuring out all the shots

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Speaker 1: and making them perfect. So we genuinely appreciate all the feedback.

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Speaker 2: Yeah, it's all continuous improvement here at Breaking Points. I

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Speaker 2: just want to say again thank you to all the

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Speaker 2: positive support. You guys have been so amazing. Many of

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Speaker 2: you have been checked out our new merchandise with the

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Speaker 2: new beautiful logo, the mugs and all that stuff. Everything

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Speaker 2: is available Breakingpoints dot com. There's a merch tab and

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Speaker 2: you can become a premium supporter if you want to

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Speaker 2: go and help.

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Speaker 3: Us continue our expansion ramp up.

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Speaker 2: For all of this, We've got RFK Junior later on

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Speaker 2: today that we'll be interviewing. We'll be releasing that interview separately,

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Speaker 2: so if you're a premium member and others, keep your

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Speaker 2: eyes glued on the podcast feed that's going to come

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Speaker 2: sometime in the afternoon.

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Speaker 3: But with that, Crystal, let's get to the show.

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Speaker 1: President Trump expected in a South Florida courtroom this afternoon

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Speaker 1: at three PM for his arraignment with regard to those

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Speaker 1: document charges. A lot of questions in this case about

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Speaker 1: the judge that has been assigned, Judge Aleen Cannon. Let's

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Speaker 1: go and put this up on the screen so you

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Speaker 1: might recall she's the one that was involved previously. She's

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Speaker 1: a Trump appointee, a very recent actually Trump appointee, and

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Speaker 1: she ruled that there needed to be a special master

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Speaker 1: to go through the documents that were being pulled from

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Speaker 1: mar A Lago. She also that basically blocked the prosecution

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Speaker 1: from being able to continue to go through and evaluate

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Speaker 1: those documents. At that time, a panel of three judges,

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Speaker 1: all of them appointed by Republican presidents came in and

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Speaker 1: basically said that ruling was wrong and overruled her in

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Speaker 1: quite strong terms. So there are a lot of questions

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Speaker 1: about whether she is should recuse herself from overseeing this

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Speaker 1: particular case, which was apparently randomly assigned to her. Let

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Speaker 1: me read a little bit from that article that we

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Speaker 1: just had up on the screen. This was Isaac Chottner

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Speaker 1: interviewing a legal expert about the question saga about her refusal.

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Speaker 1: So the governing code around when a judge should recuse

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Speaker 1: says they should take themselves out if the judge's impartiality

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Speaker 1: quote might reasonably be questioned. Now, this legal expert says,

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Speaker 1: the fact that a judge's impartiality might reasonably be questioned

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Speaker 1: doesn't mean that the judge is partial. The public may

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Speaker 1: simply not trust the impartiality of the judge because public

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Speaker 1: trust and the work of the court is a value

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Speaker 1: as important as the work itself. The rule says the

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Speaker 1: judge should not sit when we can't fairly ask the

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Speaker 1: public to trust what the judge does. That rule is

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Speaker 1: especially important in this case. One thing the prosecution can

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Speaker 1: do is move to recuse Judge Cannon on the ground

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Speaker 1: that in light of her experience in the search weren't

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Speaker 1: case last year, her impartiality might reasonably be questioned.

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Speaker 5: The way that this works.

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Speaker 1: Just as a technical matter, which I'm learning about in

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Speaker 1: real time, is it's actually on the judge herself to

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Speaker 1: decide whether or not she should refuse. The government can

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Speaker 1: ask and send like a nice note of like, hey,

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Speaker 1: we think maybe you should recuse, she gets to make

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Speaker 1: the ultimate decision. Now, there is a process where if

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Speaker 1: she says no, I'm good, I'm staying on the case,

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Speaker 1: where the government can appeal, but it is unlikely that

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Speaker 1: those appeals. Those appeals succeed rarely. They do succeed sometimes,

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Speaker 1: but they succeed rarely. And you also risk sort of

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Speaker 1: like pissing off the judge who's important to your case.

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Speaker 1: So it's a little bit complicated for them. One note

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Speaker 1: on just what is going to happen today with this arraignment.

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Speaker 1: So in addition to Judge Cannon, who, as I said,

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Speaker 1: Trump appointee, who was seen as taking this very favorable

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Speaker 1: ruling towards Trump and being overruled by a bunch of

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Speaker 1: conservative judges. In addition to her being appointed, there's also

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Speaker 1: a magistrate judge who was appointed to be involved with

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Speaker 1: this case as well. They're sort of like you could

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Speaker 1: see them as like a helper judge. That's the individual

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Speaker 1: who will be overseeing this particular arraignment today, but overall randomly,

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Speaker 1: this judge canon is the one assigned to that.

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Speaker 2: Yeah, there's a lot of focus here on this judge,

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Speaker 2: and I think it's interesting because this is previews exactly

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Speaker 2: what we were trying to show everyone yesterday, Even regardless

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Speaker 2: of how you may feel about said judge, this sets

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Speaker 2: up even more legal fights and wrangling which was going

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Speaker 2: to take a lot of time, and you can expect

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Speaker 2: to hear quite a bit about in the coming months,

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Speaker 2: which you'll of course make it so that there is

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Speaker 2: not necessarily going to be a quote speedy resolution to

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Speaker 2: this trial. Yes, that's actually where I think my main

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Speaker 2: takeaway is. I was like, man, the level of wrangling

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Speaker 2: here over just beginning in an initial appearance over just

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Speaker 2: the judge previews all of the procedural fights from here

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Speaker 2: to come, from yes documents to Supreme Court challenges to

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Speaker 2: the heels.

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Speaker 3: And as you said yesterday.

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Speaker 2: The people who aren't lawyers are like, why should I

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Speaker 2: care about this? Well, you should care because it just

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Speaker 2: shows you the level of wrangling just in this one case,

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Speaker 2: let alone, what could come forward in the January sixth case,

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Speaker 2: if that has ever brought against Trump, and how none

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Speaker 2: of that may necessarily be resolved come election day twenty

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Speaker 2: twenty four.

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Speaker 1: I think it is very likely and people need to

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Speaker 1: really take this in that election day is going to

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Speaker 1: be both about, of course, the future of the country

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Speaker 1: and who's going to be president, etc. And also whether

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Speaker 1: Trump is going to spend the next four years in

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Speaker 1: the White House or in prison. I mean the charge

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Speaker 1: it Listen, the jury's going to be in South Florida.

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Speaker 1: That gives you him a better shot in terms of

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Speaker 1: jury selection. That's probably his best chance, yes, is that

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Speaker 1: they're able to land some hardcore Trump supporter on the

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Speaker 1: jury who just isn't going to convict basically no matter what,

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Speaker 1: because the facts as laid down as we know them

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Speaker 1: at this point, if it was anyone else, that'd be

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Speaker 1: open and shut. I mean, I just don't think that

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Speaker 1: there's any denying that, given we literally have him on

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Speaker 1: tape being like I'm committing crimes here. Guys, look at

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Speaker 1: me committing crimes. So that makes you know the stakes

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Speaker 1: certainly for his supporters who want to see him be

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Speaker 1: a free man. That makes the stakes very high politically

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Speaker 1: in terms of the timeline as you're laying out soccer,

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Speaker 1: this is going to take a long time to resolve,

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Speaker 1: and he wants it. His team is going to push

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Speaker 1: for this to take a long time to resolve. They're

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Speaker 1: going to fight on the jurisdiction, they're going to they're

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Speaker 1: going to be all kinds of motions that they file

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Speaker 1: to try to drag out the process because he knows

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Speaker 1: really his best chance at maintaining his freedom is to

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Speaker 1: be back in the White House where he can pardon

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Speaker 1: himself and have control and you know, be off the

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Speaker 1: hook at least while he's there, you know, on Pennsylvania Avenue.

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Speaker 1: So they're going to do everything they can to slow

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Speaker 1: this down. So it's you know, it's an it's a

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Speaker 1: pretty wild dynamic here that we're looking at in terms

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Speaker 1: of the details for today, Just so you guys know

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Speaker 1: what is going to go down. Put this up on

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Speaker 1: the screens from NPR. Just what will happen at his arraignment.

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Speaker 1: It's scheduled for three pm Eastern time in Miami. There's

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Speaker 1: not going to be a lot that the public is

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Speaker 1: going to be able to see. They talk about the

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Speaker 1: courthouse is actually connected to an underground garage, so he

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Speaker 1: can be ferried in. It can provide a secure spot

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Speaker 1: for him to be taken to be electronically finger printed,

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Speaker 1: just like in New York. We're not expecting handcuffs, We're

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Speaker 1: not expecting a mugshot, which you know is not really

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Speaker 1: necessary for such a high profile figure. We are unlikely

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Speaker 1: there are not going to be any cameras in the courtroom.

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Speaker 1: We're unlikely to see a lot of what happens. And

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Speaker 1: so you know, it's it's there's not going to be

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Speaker 1: a lot that comes from this court appearance today, expectedly

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Speaker 1: with Trump.

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Speaker 5: You never know, but that's the expectation.

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Speaker 1: Last time that we did this in New York, there

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Speaker 1: was we hadn't gotten the details of the case yet.

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Speaker 1: So we're all kind of waiting with Baita brought to see,

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Speaker 1: all right, what are the details of the charges? Are

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Speaker 1: there things in here that we don't know about? And

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Speaker 1: when the statement of facts came out, you know, revealed

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Speaker 1: that basically it was what was already in the public record.

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Speaker 1: We already have the charges here, So again and there's

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Speaker 1: not an expectation that we're going to learn a lot

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Speaker 1: more about this case. They do say some reporters will

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Speaker 1: be allowed to watch and share electronic updates, so we

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Speaker 1: will get some account coming out of the courtroom of

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Speaker 1: what happens, but no camera and no expectation that we're

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Speaker 1: going to learn a lot more about what additional evidence

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Speaker 1: the government may have.

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Speaker 2: It's simply it's more of a procedural matter than it

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Speaker 2: is one that is in any way similar to what

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Speaker 2: happened in Manhattan. We're going to get it, like you said,

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Speaker 2: the thirty seven charges, but we already know all the

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Speaker 2: details of every single one of them. The indictment and

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Speaker 2: the charging document already been released. We've had the initial photos.

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Speaker 2: The government itself says they're going to push for a

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Speaker 2: seventy day resolution in terms of starting the trial, but

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Speaker 2: as we keep saying, that does not account for defense

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Speaker 2: motions and for others that must be resolved through the

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Speaker 2: court process. So everyone just buckle up and realize that

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Speaker 2: this is very, very different than what happened in Manhattan.

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Speaker 3: We have the documents.

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Speaker 2: In many ways, the symbolic appearance of him treking down

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Speaker 2: to the federal courthouse before the judge. Even though we

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Speaker 2: won't get a photo or any of that is the

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Speaker 2: most important thing that's happening.

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Speaker 3: And then, of course Crystal.

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Speaker 2: Later today eight fifteen pm, the president will be having

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Speaker 2: a or former president We'll be having a rally of

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Speaker 2: press conference at Bedminster.

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Speaker 3: Not sure if he's going to take any questions.

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Speaker 2: He can be flying back to the state of New

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Speaker 2: Jersey after his court appearance, and we will have some

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Speaker 2: analysis later on tonight for everybody around that. So everyone

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Speaker 2: just keep that in mind as we go into today.

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Speaker 1: Yeah, so before we move on to the next piece

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Speaker 1: about Trump's plans for today's et cetera, there's a lot

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Speaker 1: of reporting out this morning. We knew already that some

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Speaker 1: high profile members of his legal team, just before the

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Speaker 1: indictment dropped, bailed on the team, and we're starting to

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Speaker 1: get some details over.

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Speaker 5: Why that is.

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Speaker 1: I mean, none of this is going to surprise you, right,

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Speaker 1: There's tons of infighting. Apparently there's a lot of upset

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Speaker 1: over Boris Epstein, who is like, you know, they some

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Speaker 1: of the lawyers him cm as wildly unqualified to be

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Speaker 1: leading this team and have been very critical of some

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Speaker 1: of the filings that he has put and sent into judges,

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Speaker 1: including like a court filing that talked about how Trump

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Speaker 1: dominated in the Republican primaries, which is totally irrelevant to

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Speaker 1: a legal case.

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Speaker 5: There were disagreements about like the.

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Speaker 1: Media strategy, but what appears to be based on the

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Speaker 1: reporting is there's a big divide in the potential legal strategy.

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Speaker 1: One side wants to take the very Trumpian approach of

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Speaker 1: being extremely blicos and making more of a political argument

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Speaker 1: and coming out guns blazing, even at risk of you know,

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Speaker 1: pissing off the judge and flaming the jury whatever. So

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Speaker 1: that's one side wants to take, like the very Trumpian approach.

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Speaker 1: And then the other side says, hey, listen, all you

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Speaker 1: need is one juror in South Florida to take your side.

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Speaker 1: So we think that you could actually win this case legally,

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Speaker 1: you know, through the legal process, versus the political process

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Speaker 1: by you know, playing it safe and mounting a traditional

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Speaker 1: defense and doing the things that lawyers and clients normally do.

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Speaker 1: So apparently that's the divide, and there's a lot of

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Speaker 1: reporting this morning about how really having a hell of

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Speaker 1: a time getting lawyers to replace the dudes who just left.

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Speaker 5: I mean, would you want to work with this guy?

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Speaker 5: I mean, he doesn't pay his bills on time.

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Speaker 1: He like will randomly be caught on tape bragging about

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Speaker 1: committing crimes. He lies to his own lawyers. So even

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Speaker 1: though obviously it would come with a ton of prestige

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Speaker 1: to represent the former president in the most you know,

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Speaker 1: what's going to be the most closely watched case perhaps

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Speaker 1: in the history of the country, even though that comes

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Speaker 1: with all of this prestige, basically every in Flora is like, Eh,

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Speaker 1: we're good here, And it does matter because you know,

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Speaker 1: these judges, they're human beings, whether it ends up being

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Speaker 1: Judge Cannon or anyone else. Having someone who's local who

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Speaker 1: understands this particular judge, their particular temperament, maybe as someone of.

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Speaker 5: A relationship with it.

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Speaker 1: Like it's gross that those things matter, but having local

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Speaker 1: counsel with that kind of local knowledge actually really does

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Speaker 1: matter in terms of outcoming.

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Speaker 2: Now, you're right, I mean, one thing I learned covering

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Speaker 2: Trump during Russiagate, he went through like multiple different lawyers.

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Speaker 2: During the Mueller investigation, there was always a lot of drama.

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Speaker 3: Even the impeachment.

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Speaker 2: If you'll remember, there were like all these different arguments

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Speaker 2: about who was going to speak on his behalf for

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Speaker 2: impeachment one and for impeachment too. I just think in

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Speaker 2: the end of the day, he'll figure it out. You know,

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Speaker 2: there's always somebody in the Republican Party that wants to

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Speaker 2: make a.

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Speaker 3: Big name for themself.

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Speaker 2: Now, will he get the most will he get the

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Speaker 2: most competent defense. I'm just going to go out on

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Speaker 2: a limb and say probably not of just giving the caliber.

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Speaker 2: But as always, he will find something. And look, as

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Speaker 2: you know, if the stakes become genuinely existential, it's not

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Speaker 2: like the Republican establishment or at least some of the

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Speaker 2: lawyers aren't going to at least have some people come

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Speaker 2: and back.

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Speaker 3: Him like people. That's what happened during the last impeachment.

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Speaker 2: You know, every time there was a lot of consternation,

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Speaker 2: but at the end of the day, like people went

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Speaker 2: to bat for Trump. And especially if he continues to

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Speaker 2: lead in the polls, consider it you really going to

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Speaker 2: abandon your nominee at the court. No, they're gonna you know,

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Speaker 2: there's too much on the line, there's too much money

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Speaker 2: at stake.

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Speaker 1: Yeah, well, let's say that's a good way to shift

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Speaker 1: to sort of the politics of this. So Trump has

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Speaker 1: called on supporters to show up in protest. Today, Lit's

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Speaker 1: put this up on the screen. He was on radio

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Speaker 1: program talking about you know how he wants with this

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Speaker 1: was with Roger Stone, a longtime friend and ally who

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Speaker 1: he also pardoned for his alleged crimes. So he says,

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Speaker 1: our country has to protest. We've lost everything. They have

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Speaker 1: to go out, and they have to protest peacefully. He says,

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Speaker 1: they have to go out. He also called Justice Department

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Speaker 1: Special counsel Jack Smith, who was of course hading the investigation.

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Speaker 5: He called him deranged.

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Speaker 1: Now, I have no idea how many people are going

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Speaker 1: to show up, what you know, whether the protests are

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Speaker 1: more likely to be peaceful or not. But if history

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Speaker 1: is any guide, when it was the New York indictment,

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Speaker 1: and he also encouraged people to show up in protest,

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Speaker 1: there wasn't a huge turnout. I did see some chatter online,

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Speaker 1: some reporting online that like Proud Boys and others feel like, oh,

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Speaker 1: this could be a setup or worried about after January,

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Speaker 1: like worried about the FEDS and all that sort of stuff,

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Speaker 1: as they probably should be. And so my guess will

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Speaker 1: be that the protests will not be a whole whole

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Speaker 1: lot to talk about.

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Speaker 5: But you know, you never know.

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Speaker 1: Trump has a very adamant base. He's directly asked them

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Speaker 1: to show up and support him. In South Florida outside

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Speaker 1: the Miami Courthouse, I know the city is definitely preparing

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Speaker 1: for a large and potentially contentious gathering there.

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Speaker 5: So that's what we know on that front.

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Speaker 2: Yeah, I'm put this up on the screen because I

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Speaker 2: actually think this is the most important part. Is he

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Speaker 2: guess what, He's going to host his first major fundraiser

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Speaker 2: the day of his earth That is really what it

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Speaker 2: all comes down to for me, Crystal, is whether people

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Speaker 2: show up to him or not.

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Speaker 3: As we learned in Manhattan, well not that many.

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Speaker 2: People, although of course in Florida there's quite a few

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Speaker 2: more Trump supporters. But regardless, when Trump is under attack,

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Speaker 2: that's when he raises the most money. That's why he's

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Speaker 2: doing his press conference and big appearance or rally whatever

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Speaker 2: you want to call it, at Bedminster. And that's also

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Speaker 2: why he had that same gathering on the night of

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Speaker 2: his Manhattan indictment, why he flew back to Florida and

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Speaker 2: had that big mar A Lago event, Because he has

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Speaker 2: always raised the most whenever he's under attach Impeachment one

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Speaker 2: was a bonanza for him, Impeachment two even more of

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Speaker 2: a bonanza. It's like we never seem to learn that

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Speaker 2: lesson at the very least in terms of the political benefit.

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Speaker 2: And you know, just yesterday, what did we bring everybody

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Speaker 2: the news? Sixty one percent support in the Republican primary.

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Speaker 2: Ron des Hantis not only didn't get a polling bump

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Speaker 2: whenever he announced, he got a polling drop. Every single

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Speaker 2: of every contender going after Trump on these documents and

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Speaker 2: all this other, all these other issues. People like Asa

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Speaker 2: Hutchinson and Chris Christy, they had the highest level of

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Speaker 2: I will not support that person, the highest level.

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Speaker 3: It shows you that, you know, any.

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Speaker 2: Republican who wants to play with this in the primary,

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Speaker 2: it's not going to work.

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Speaker 3: Now.

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Speaker 2: Of course, that does not dispel the fact that independent

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Speaker 2: voters is a problem, and it just generally feeds into

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Speaker 2: the drama narrative. So I'm not saying it makes him

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Speaker 2: more powerful powerful for the general election, but in terms

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Speaker 2: of the Republican primary, there is no question this is

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Speaker 2: nothing but a benefit to him, and he will raise

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Speaker 2: a probably historic amount of money as a result of

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Speaker 2: these charges.

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Speaker 1: The other thing that's interesting is partly because he has

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Speaker 1: so burned his own fundraising list, his grassroots fundraising has

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Speaker 1: actually fallen off quite significantly.

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Speaker 5: It's not anything like what it used to be, that's true.

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Speaker 1: But the thing that does juice it is, you know,

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Speaker 1: the raid on mar A Lago indictment in Manhattan, indictment

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Speaker 1: now in South Florida, that juices his numbers. But even

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Speaker 1: the fact that he is focused on because this isn't

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Speaker 1: a grassroots fundraiser, This is for the big high dollar donors,

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Speaker 1: this event that he's doing in Bedminster, and they say that,

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Speaker 1: in contrast to his previous campaigns, he actually this time

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Speaker 1: has to work the phones. He's got to do call time,

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Speaker 1: he's got to woo bundlers, he's got to woo other

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Speaker 1: major contributors. They're expecting more than three hundred bundlers to

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Speaker 1: be on board the campaign by the end of June.

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Speaker 1: But you know, previously he didn't have to do that

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Speaker 1: same like wooing the big guy grind the big guys

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Speaker 1: grind that other candidates always have to do that like

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Speaker 1: Ron De Santis has to do for example, and Joe

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Speaker 1: Biden has to do because they don't have that same

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Speaker 1: level of grossroots support.

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Speaker 5: So there's there's two pieces here.

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Speaker 1: On the one hand, yes, this will certainly juice his

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Speaker 1: grossroots fundraising dollars, no doubt about it. But it does

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Speaker 1: show you that, you know, even the base, like they've

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Speaker 1: been so tapped in terms of their fundering and the

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Speaker 1: number of emails that Trump has sent sup Borders is

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Speaker 1: insane and it's really burned every Republican candidate because people

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Speaker 1: are just so exhausted by the constant please existential, please

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Speaker 1: for cash. But so this would be this will be

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Speaker 1: one event that will certainly help him in that regard.

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Speaker 1: You know, there's also you sent this this morning saga.

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Speaker 1: There's rumblings that donors are still like, oh, you know,

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Speaker 1: if Trump looks like he's going down, maybe we need

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Speaker 1: to get Brian Kemp into the race. Maybe we need

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Speaker 1: to get maybe we need to get Glenn Youngkin into

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Speaker 1: the race. And it's just incredible because you already have

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Speaker 1: all of these contenders. What do you think is going

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Speaker 1: to be different about a Glenn Youngkin jumping in that's

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Speaker 1: gonna supplant Trump? Like I'm sorry, but I just it

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Speaker 1: feels to me, like, this primary is all but over

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Speaker 1: before it's even begun.

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Speaker 2: We can't say the obituary just yet. But I was

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Speaker 2: just thinking that Ron DeSantis's people are very upset with

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Speaker 2: Chris Christy and with everybody else. They're like, they're pulling

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Speaker 2: away from all of our potential support. And I'm like, yeah,

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Speaker 2: that is kind of true, you know what.

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Speaker 5: That's fine.

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Speaker 1: But here's the thing, even if none of them were

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Speaker 1: in the race, the argument from Trump's opponents and the

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Speaker 1: donors who were allied with his opponents was like, oh,

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Speaker 1: he's got his base thirty five to forty percent support,

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Speaker 1: but that's it.

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Speaker 5: Well, the latest pulls them sixty something percent.

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Speaker 2: It's not just that one either, it's even significant numbers

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Speaker 2: that haven't over fifty exactly.

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Speaker 1: So even if everyone but Rond de Santis drops out,

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Speaker 1: Trump is still winning.

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Speaker 5: So that's their case. Their theory of the case has

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Speaker 5: kind of.

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Speaker 1: Already collapsed, which is they had to think somewhere in

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Speaker 1: their heart of hearts that these indictments, the legal trouble whatever,

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Speaker 1: that even though Republicans still liked him, they'd be like, yeah,

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Speaker 1: it's too messy, I'm ready to move on. That is

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Speaker 1: not the case they had to think that, all right,

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Speaker 1: he's got his hardcore base, but there's a majority of

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Speaker 1: Republicans who want to move on. Clearly not the case

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Speaker 1: they thought. And remember we covered these articles on Ronda

440
00:20:27,320 --> 00:20:29,359
Speaker 1: Santis before he jumped in the race. They're like, yeah,

441
00:20:29,400 --> 00:20:31,400
Speaker 1: his poles have been flagging lately, but he's not even

442
00:20:31,440 --> 00:20:33,080
Speaker 1: in the race yet, Like, wait till he gets in

443
00:20:33,080 --> 00:20:34,400
Speaker 1: the race and you're going to see how he picks

444
00:20:34,480 --> 00:20:34,879
Speaker 1: up ground.

445
00:20:35,080 --> 00:20:36,600
Speaker 5: Well, he's only gone in the other direction.

446
00:20:37,119 --> 00:20:41,119
Speaker 1: So all of the claims that were made to bolster

447
00:20:41,200 --> 00:20:43,399
Speaker 1: the case of Ronda Santis in particular, but all of

448
00:20:43,400 --> 00:20:46,800
Speaker 1: his adversaries in the Republican primary, they've already kind of

449
00:20:46,800 --> 00:20:47,439
Speaker 1: fallen apart.

450
00:20:47,560 --> 00:20:48,879
Speaker 3: I think that their case is falling.

451
00:20:49,119 --> 00:20:51,840
Speaker 2: I will just say, what, votes haven't been cast yet,

452
00:20:51,840 --> 00:20:53,760
Speaker 2: so let's not entirely count him out.

453
00:20:53,760 --> 00:20:54,920
Speaker 3: Although you know, I'm.

454
00:20:54,720 --> 00:20:56,720
Speaker 2: Pretty excited to see how the votes cast out. We

455
00:20:56,760 --> 00:20:59,120
Speaker 2: couldn't see a historic polling miss, right, Like maybe there

456
00:20:59,200 --> 00:21:02,720
Speaker 2: is some secret action of Republicans that really are the

457
00:21:02,800 --> 00:21:08,000
Speaker 2: silent not even silent anti Trump voter in the Republican primary,

458
00:21:08,040 --> 00:21:10,359
Speaker 2: to be clear, not in the general election, because I

459
00:21:10,359 --> 00:21:12,439
Speaker 2: actually do think that person does kind of exist at

460
00:21:12,480 --> 00:21:14,960
Speaker 2: the least in the general election, but for a primary,

461
00:21:15,200 --> 00:21:16,880
Speaker 2: we're not seeing a lot of that evidence so far.

462
00:21:16,960 --> 00:21:21,560
Speaker 2: We're just seeing Trump absolutely dominate every single contest, media cycle,

463
00:21:21,840 --> 00:21:24,679
Speaker 2: and everything that he touches, which pretty much fits with

464
00:21:24,840 --> 00:21:26,880
Speaker 2: everything that I always thought was going to happen from

465
00:21:26,920 --> 00:21:32,800
Speaker 2: the very beginning. Let's go ahead and talk about Ukraine.

466
00:21:33,000 --> 00:21:35,760
Speaker 2: There's a lot of interesting stuff going on in Ukraine

467
00:21:36,080 --> 00:21:37,920
Speaker 2: that we wanted to hold to make sure. We dedicated

468
00:21:37,920 --> 00:21:40,280
Speaker 2: a signific amount of time to in today's show. The

469
00:21:40,400 --> 00:21:45,160
Speaker 2: long awaited counter offensive is officially on. It has launched.

470
00:21:45,200 --> 00:21:48,639
Speaker 2: Now how is it going now? Initially, much of the

471
00:21:48,680 --> 00:21:52,480
Speaker 2: conversation was happening around the dam that the dam that

472
00:21:52,600 --> 00:21:55,080
Speaker 2: was blown up in eastern Ukraine.

473
00:21:55,160 --> 00:21:55,720
Speaker 3: That damn.

474
00:21:55,760 --> 00:21:58,120
Speaker 2: There was a lot of discussion did the Russians blow

475
00:21:58,119 --> 00:22:00,840
Speaker 2: it up? Did the Ukrainians be really both sides kind

476
00:22:00,880 --> 00:22:04,960
Speaker 2: of benefited from it. President Zelensky actually went and visited

477
00:22:05,080 --> 00:22:07,399
Speaker 2: the region. There are reasons to think that both sides

478
00:22:07,440 --> 00:22:10,320
Speaker 2: could have done the sabotage, and you know, ultimately it

479
00:22:10,359 --> 00:22:13,639
Speaker 2: is still a human catastrophe. But now what we know

480
00:22:13,840 --> 00:22:16,680
Speaker 2: is about a week into the overall offensive, we're getting

481
00:22:16,680 --> 00:22:20,560
Speaker 2: some indications about Russian strategy and about Ukraine the gains

482
00:22:20,560 --> 00:22:22,800
Speaker 2: it may or may not hope to make in this

483
00:22:22,840 --> 00:22:25,200
Speaker 2: overall campaign. Let's go and put this up there on

484
00:22:25,359 --> 00:22:28,800
Speaker 2: the screen. The initial takeaway that appears to be forming

485
00:22:28,880 --> 00:22:32,760
Speaker 2: amongst Western analysts is that the Russian improved weaponry and

486
00:22:32,840 --> 00:22:37,040
Speaker 2: tactics is posing challenges to the Ukrainian counter offensive, even

487
00:22:37,119 --> 00:22:39,240
Speaker 2: with all of the weapons that have been provided to

488
00:22:39,359 --> 00:22:43,160
Speaker 2: Ukraine so far. As I said previously, the initial kind

489
00:22:43,200 --> 00:22:46,239
Speaker 2: of analysis was focusing on what was going on with

490
00:22:46,480 --> 00:22:50,480
Speaker 2: the drone, but overall, sorry with the dam but overall

491
00:22:50,720 --> 00:22:54,000
Speaker 2: what we are watching is much slower progress than that

492
00:22:54,119 --> 00:22:57,880
Speaker 2: was initially made in the original Ukrainian counter offensive. And

493
00:22:58,240 --> 00:23:02,359
Speaker 2: this is also being verified by many Western analysts and

494
00:23:02,440 --> 00:23:05,879
Speaker 2: others who have watched as the Russians have really taken

495
00:23:06,040 --> 00:23:10,000
Speaker 2: over a year to bolster their six hundred mile front line.

496
00:23:10,000 --> 00:23:13,240
Speaker 2: They say that they've honed in on electronic weapons, reducing

497
00:23:13,400 --> 00:23:17,120
Speaker 2: Ukrainians edge and combat drones. They've turned heavy bombs from

498
00:23:17,119 --> 00:23:20,959
Speaker 2: its massive Cold War arsenal into precision guided munitions capable

499
00:23:21,000 --> 00:23:23,920
Speaker 2: of striking targets without putting its warplanes at risk. And

500
00:23:24,040 --> 00:23:27,719
Speaker 2: the tactics are switching much more towards the defensive position

501
00:23:27,800 --> 00:23:32,840
Speaker 2: that we saw, especially after what happened in Bakhmud. So

502
00:23:33,200 --> 00:23:36,240
Speaker 2: the initial news too that I found are really interesting.

503
00:23:36,320 --> 00:23:37,680
Speaker 2: Let's go and put this up there. There's a lot

504
00:23:37,680 --> 00:23:39,560
Speaker 2: of maps that we wanted to show everyone from the

505
00:23:39,600 --> 00:23:42,960
Speaker 2: Wall Street Journal. The counter offensive that we can see

506
00:23:42,960 --> 00:23:46,760
Speaker 2: here is the initial one is the view from the

507
00:23:46,800 --> 00:23:49,440
Speaker 2: front line where you can actually see Ukraine that has

508
00:23:49,480 --> 00:23:52,320
Speaker 2: taken back a few villages in the Dinetzk region. I'm

509
00:23:52,320 --> 00:23:53,720
Speaker 2: not going to go ahead and pronounce these for those

510
00:23:53,760 --> 00:23:56,640
Speaker 2: who are watching. You can see there pretty clearly where

511
00:23:56,680 --> 00:23:58,600
Speaker 2: the front line is, and then some of the villages

512
00:23:58,640 --> 00:24:01,800
Speaker 2: that the Ukrainians have been stepping up artillery attacks and

513
00:24:01,840 --> 00:24:04,160
Speaker 2: then taking back villages. Go to the next one, please,

514
00:24:04,240 --> 00:24:07,040
Speaker 2: so that people can see a little bit more. This

515
00:24:07,080 --> 00:24:10,680
Speaker 2: gives some more insight into the dam near the city

516
00:24:10,680 --> 00:24:13,639
Speaker 2: of Kurson which exploded some of the flow areas that

517
00:24:13,960 --> 00:24:16,840
Speaker 2: had been flooding. And then also it shows you where

518
00:24:16,960 --> 00:24:19,439
Speaker 2: more dangers were in the cities that are around the

519
00:24:19,480 --> 00:24:22,920
Speaker 2: flattest land in southern Ukraine. The next map please also

520
00:24:23,080 --> 00:24:26,840
Speaker 2: does some indication about the dam and where the actual

521
00:24:26,880 --> 00:24:28,560
Speaker 2: demolition site had occurred.

522
00:24:28,640 --> 00:24:29,520
Speaker 3: So Crystal the.

523
00:24:29,480 --> 00:24:32,480
Speaker 2: Main takeaway within all of this, and please can me

524
00:24:32,640 --> 00:24:35,239
Speaker 2: flow over the third element please on the screen, is

525
00:24:35,520 --> 00:24:38,320
Speaker 2: that the defensive capabilities of the Russians, or at the

526
00:24:38,400 --> 00:24:40,919
Speaker 2: very least, have been bolstered such that the Ukrainians are

527
00:24:40,960 --> 00:24:42,840
Speaker 2: having a harder time. That doesn't mean that it may

528
00:24:42,880 --> 00:24:45,560
Speaker 2: not necessarily succeed, but that the initial push is not

529
00:24:45,720 --> 00:24:48,280
Speaker 2: working as well as the last one. They say that

530
00:24:48,320 --> 00:24:52,000
Speaker 2: the Ukrainian Army has already lost half of its unique

531
00:24:52,240 --> 00:24:55,640
Speaker 2: leopard breaching vehicles which have been provided to them by

532
00:24:55,680 --> 00:24:58,480
Speaker 2: the West, and they've already come to the Germans and

533
00:24:58,480 --> 00:25:01,440
Speaker 2: said that they need even more of them. So overall,

534
00:25:01,560 --> 00:25:03,560
Speaker 2: and you know, if anybody's interested, you can go see.

535
00:25:03,560 --> 00:25:06,240
Speaker 2: There's a lot of videos out there floating around about

536
00:25:06,240 --> 00:25:09,600
Speaker 2: some of the battles going on. It's absolutely brutal and

537
00:25:10,040 --> 00:25:12,600
Speaker 2: devastating stuff. But you know, I mean, this just fits

538
00:25:12,640 --> 00:25:14,480
Speaker 2: with some of the analysis that we've seen up there,

539
00:25:14,520 --> 00:25:18,040
Speaker 2: the warnings from the Defense Chief General Mark Millie that

540
00:25:18,359 --> 00:25:21,560
Speaker 2: we're basically seeing, you know, classic World War One type

541
00:25:21,600 --> 00:25:24,880
Speaker 2: trench scenario, and that fits with the you know, whichever

542
00:25:25,040 --> 00:25:27,760
Speaker 2: army is attacking is generally going to be the one

543
00:25:28,280 --> 00:25:30,840
Speaker 2: really on the losing side in terms of casualties. Maybe

544
00:25:30,840 --> 00:25:32,520
Speaker 2: they can turn it around, they can show us something

545
00:25:32,560 --> 00:25:35,120
Speaker 2: that they haven't seen before. But it's pretty clear here

546
00:25:35,200 --> 00:25:38,560
Speaker 2: that you know, things are are really grinding.

547
00:25:38,840 --> 00:25:41,320
Speaker 1: Yeah, together, I mean to boil this down based on

548
00:25:41,359 --> 00:25:44,679
Speaker 1: this analysis to the most simplistic terms, The Ukrainians have

549
00:25:44,760 --> 00:25:46,760
Speaker 1: learned a lot over the fifteen months of the war,

550
00:25:47,080 --> 00:25:49,159
Speaker 1: but so of the Russians. You know, the Ukrainians have

551
00:25:49,160 --> 00:25:52,320
Speaker 1: been bolstered, certainly by more and more advanced weaponry that

552
00:25:52,359 --> 00:25:54,919
Speaker 1: we've been willing to ship them. We've been training them

553
00:25:54,920 --> 00:25:58,359
Speaker 1: aggressively in modern military techniques. But the Russians have also

554
00:25:58,480 --> 00:26:00,679
Speaker 1: learned a lot from their loss, and they have an

555
00:26:00,720 --> 00:26:02,960
Speaker 1: advantage because they're in the defensive position. And that's just

556
00:26:03,000 --> 00:26:05,439
Speaker 1: the nature of war if you get into a grinding

557
00:26:05,440 --> 00:26:07,639
Speaker 1: war of attrition, which is what this increasingly looks like.

558
00:26:07,720 --> 00:26:09,480
Speaker 5: We have always said, and this is not based.

559
00:26:09,280 --> 00:26:11,399
Speaker 1: On our own analysis, is based on what a lot

560
00:26:11,480 --> 00:26:15,960
Speaker 1: of experts here are saying that really advantages the Russians.

561
00:26:16,160 --> 00:26:19,720
Speaker 1: And you can see it in the way that Zolensky

562
00:26:19,880 --> 00:26:23,960
Speaker 1: and American and European officials are carefully talking about what

563
00:26:24,040 --> 00:26:25,919
Speaker 1: quote unquote success might look like.

564
00:26:26,000 --> 00:26:27,679
Speaker 5: And this is something we've pointed to before.

565
00:26:28,040 --> 00:26:31,879
Speaker 1: Zelensky has really worked hard to play down expectations of

566
00:26:31,920 --> 00:26:34,919
Speaker 1: what this counter offensive might look like, and seem to

567
00:26:34,920 --> 00:26:37,320
Speaker 1: also sort of delay the start of it for quite

568
00:26:37,359 --> 00:26:39,439
Speaker 1: a while. You know, we are now getting into summer

569
00:26:39,440 --> 00:26:41,760
Speaker 1: for the spring offensive. But put this up on the screen,

570
00:26:41,800 --> 00:26:45,359
Speaker 1: they say. Publicly, American and European officials are leaving any

571
00:26:45,440 --> 00:26:49,520
Speaker 1: definition of success to Zolensky of Ukraine for now. Zelensky

572
00:26:49,560 --> 00:26:53,040
Speaker 1: has not laid out any public goals beyond his off

573
00:26:53,119 --> 00:26:56,000
Speaker 1: stated demand that Russian troops must leave the whole of Ukraine.

574
00:26:56,040 --> 00:26:59,080
Speaker 1: He's known as a master communicator. Any perception he's backing

575
00:26:59,119 --> 00:27:02,520
Speaker 1: off that broad ind abition would risk undermining his support

576
00:27:02,640 --> 00:27:06,800
Speaker 1: At a critical moment. Privately, US and European officials concede

577
00:27:07,000 --> 00:27:09,880
Speaker 1: pushing all of Russia's forces out of occupied Ukrainian land

578
00:27:09,960 --> 00:27:12,520
Speaker 1: is highly unlikely. Still, two themes emerge as clear ideas

579
00:27:12,560 --> 00:27:15,639
Speaker 1: of quote unquote success. That the Ukrainian army retake and

580
00:27:15,680 --> 00:27:18,760
Speaker 1: hold on to keith swass of territory previously occupied by

581
00:27:18,760 --> 00:27:21,399
Speaker 1: the Russians, and that Kiev deal the Russian military a

582
00:27:21,480 --> 00:27:25,800
Speaker 1: debilitating blow that forces the Kremlin to question the future

583
00:27:25,840 --> 00:27:29,840
Speaker 1: of its military options in Ukraine. So it's early days,

584
00:27:30,119 --> 00:27:33,720
Speaker 1: so we have to see what develops. Thus far, they've

585
00:27:33,720 --> 00:27:36,959
Speaker 1: been able to take a few low, tiny villages, you know,

586
00:27:37,080 --> 00:27:41,600
Speaker 1: not make major progress. They're obviously losing a lot in

587
00:27:41,880 --> 00:27:45,720
Speaker 1: doing that. You point to the leopard breaching tanks, losing

588
00:27:45,760 --> 00:27:48,840
Speaker 1: half of those in the early phases here. So as

589
00:27:48,880 --> 00:27:51,960
Speaker 1: of yet, they're nowhere close to even the more limited

590
00:27:52,000 --> 00:27:54,840
Speaker 1: definition of success. And part of what they would be

591
00:27:54,880 --> 00:27:58,520
Speaker 1: aiming for here is to gain some strategic leverage if

592
00:27:58,520 --> 00:28:00,800
Speaker 1: they are going to go to the negotiating table to

593
00:28:00,840 --> 00:28:03,800
Speaker 1: be able to strike a better deal. If they're unable

594
00:28:03,840 --> 00:28:06,040
Speaker 1: to do that, then you know, I think the pathward

595
00:28:06,160 --> 00:28:07,280
Speaker 1: is really really unclear.

596
00:28:07,359 --> 00:28:09,919
Speaker 2: Yeah, there was also some indication of what they're really

597
00:28:09,920 --> 00:28:13,520
Speaker 2: going after, which is, they say American and European officials,

598
00:28:13,640 --> 00:28:16,359
Speaker 2: it is key for Ukraine to cut off, or at

599
00:28:16,440 --> 00:28:19,919
Speaker 2: least squeeze the so called land bridge, the large swath

600
00:28:19,960 --> 00:28:22,919
Speaker 2: of territory that Russia sees between its border and the

601
00:28:22,960 --> 00:28:26,400
Speaker 2: Peninsula of Crimea, which has become the main supply right

602
00:28:26,440 --> 00:28:29,560
Speaker 2: for the military stronghold. It's that and then the Zapprovia

603
00:28:29,720 --> 00:28:32,080
Speaker 2: nuclear power plant. I apologize if I did not say

604
00:28:32,080 --> 00:28:34,600
Speaker 2: that correctly, which of course has been inside of Russian

605
00:28:34,640 --> 00:28:37,359
Speaker 2: control since very early days of the war. It has

606
00:28:37,400 --> 00:28:39,640
Speaker 2: been a great matter of consternation as to how it's

607
00:28:39,680 --> 00:28:42,640
Speaker 2: being run. It looks like those are the two massive

608
00:28:42,800 --> 00:28:47,720
Speaker 2: targets for the Ukrainian military. Another scenario, they say right now,

609
00:28:47,760 --> 00:28:50,200
Speaker 2: is that the Russians could make an error by potentially

610
00:28:50,240 --> 00:28:52,320
Speaker 2: putting their troops in the wrong place or defending a

611
00:28:52,360 --> 00:28:55,880
Speaker 2: trench line too lightly, which could potentially allow Ukraine to

612
00:28:55,960 --> 00:28:58,640
Speaker 2: punch through their lines and execute a devastating blow to

613
00:28:58,760 --> 00:29:01,440
Speaker 2: Russian troops. So there's still a lot different scenarios right

614
00:29:01,440 --> 00:29:03,160
Speaker 2: now which are on the table, But from the best

615
00:29:03,160 --> 00:29:05,640
Speaker 2: we can tell, things are kind of grinding right now

616
00:29:05,640 --> 00:29:08,280
Speaker 2: in the initial phase of the campaign. No great success

617
00:29:08,320 --> 00:29:10,840
Speaker 2: by the Russians, no great success yet by the Ukrainians,

618
00:29:10,880 --> 00:29:13,440
Speaker 2: and lots of attrition that looks very very World War.

619
00:29:13,240 --> 00:29:14,680
Speaker 3: One style as of now.

620
00:29:14,720 --> 00:29:16,920
Speaker 2: And already, you know, the Cope article is about what

621
00:29:17,000 --> 00:29:19,640
Speaker 2: success looks like and all of that are being released

622
00:29:19,640 --> 00:29:22,360
Speaker 2: by the West. But hey, everybody could be wrong, you know. Again,

623
00:29:22,680 --> 00:29:24,160
Speaker 2: really nobody knows how this thing is going to go

624
00:29:24,240 --> 00:29:25,760
Speaker 2: until they officially kind of call it off.

625
00:29:25,840 --> 00:29:28,280
Speaker 1: The military analysts have been very wrong at different times

626
00:29:28,320 --> 00:29:30,320
Speaker 1: in this conflict. So we got to keep that in mind.

627
00:29:30,320 --> 00:29:32,160
Speaker 1: The last thing that I think it's always important to

628
00:29:32,800 --> 00:29:35,280
Speaker 1: bear in mind with regard to, you know, our proxy

629
00:29:35,320 --> 00:29:38,440
Speaker 1: war against a nuclear armed superpower is they say, while

630
00:29:38,520 --> 00:29:40,960
Speaker 1: US officials have set the risk of mister Putin's using

631
00:29:40,960 --> 00:29:44,920
Speaker 1: a nuclear weapon have receded, American intelligence agencies say total

632
00:29:44,920 --> 00:29:48,200
Speaker 1: defeat in Ukraine or a loss of Crimea are two

633
00:29:48,240 --> 00:29:51,840
Speaker 1: scenarios under which mister Putin could potentially order the use

634
00:29:51,920 --> 00:29:54,400
Speaker 1: of a nuclear weapon. This, again is consistent with what

635
00:29:54,440 --> 00:29:56,760
Speaker 1: we've been saying from the beginning. If his back is

636
00:29:56,840 --> 00:29:59,800
Speaker 1: really against the wall and it really looks existential, that's

637
00:29:59,840 --> 00:30:02,680
Speaker 1: why you end up in extremely dangerous train. And it's

638
00:30:02,720 --> 00:30:04,680
Speaker 1: important ever to take our eye off of that.

639
00:30:04,880 --> 00:30:07,320
Speaker 3: Yep, very very important reminder as always.

640
00:30:07,560 --> 00:30:12,000
Speaker 1: All right, let's get to some new disturbing economic indicators here.

641
00:30:12,200 --> 00:30:14,880
Speaker 1: We've followed as closely as you can the housing market

642
00:30:14,960 --> 00:30:18,000
Speaker 1: on this show because it's so important to the economy,

643
00:30:18,000 --> 00:30:19,960
Speaker 1: it's so important to all of you and your lives,

644
00:30:20,000 --> 00:30:21,840
Speaker 1: and let's go and put this up on the screen.

645
00:30:22,720 --> 00:30:29,920
Speaker 1: We now have a home foreclosures rising nationwide Florida, California

646
00:30:29,960 --> 00:30:31,440
Speaker 1: and Texas.

647
00:30:31,160 --> 00:30:32,880
Speaker 5: Are apparently in the lead.

648
00:30:34,200 --> 00:30:37,520
Speaker 1: You know, you've got May foreclosure related filings that includes

649
00:30:37,520 --> 00:30:41,000
Speaker 1: default notices, scheduled actions, bank repossessions all up seven percent

650
00:30:41,040 --> 00:30:44,840
Speaker 1: from April, fourteen percent from a year ago. Nationwide, you're

651
00:30:44,880 --> 00:30:48,960
Speaker 1: talking about over thirty five thousand properties. You also have

652
00:30:49,120 --> 00:30:52,920
Speaker 1: actual foreclosures up four percent month over month and five

653
00:30:53,000 --> 00:30:54,440
Speaker 1: percent from a year ago.

654
00:30:54,520 --> 00:30:55,520
Speaker 5: As I mentioned.

655
00:30:55,160 --> 00:30:58,880
Speaker 1: Before, leading the way, you have Florida, California, and Texas.

656
00:30:59,640 --> 00:31:02,239
Speaker 1: Now they do sound a note here to keep in

657
00:31:02,240 --> 00:31:05,320
Speaker 1: mind the context, which is that in spite of the increase,

658
00:31:05,760 --> 00:31:10,920
Speaker 1: these overall foreclosure rates actually remain about level with where

659
00:31:11,080 --> 00:31:14,400
Speaker 1: we were pre pandemic. So part of what happened is

660
00:31:14,480 --> 00:31:18,080
Speaker 1: you had a lot of forbearance programs during the pandemic.

661
00:31:18,320 --> 00:31:20,719
Speaker 1: Well those have now lapsed and now they've gone so

662
00:31:20,840 --> 00:31:24,480
Speaker 1: in some ways you're back to business as usual. However,

663
00:31:24,480 --> 00:31:27,520
Speaker 1: there's still a lot of reasons to be concerned. Workers'

664
00:31:27,560 --> 00:31:31,160
Speaker 1: incomes remain below their pre pandemic highs. Of course, the

665
00:31:31,200 --> 00:31:34,800
Speaker 1: cost of consumer goods and services remains elevated. That puts

666
00:31:34,840 --> 00:31:37,920
Speaker 1: workers at a greater risk of falling behind on payments.

667
00:31:38,120 --> 00:31:41,440
Speaker 1: We've talked here about how credit card debt and other

668
00:31:41,480 --> 00:31:44,680
Speaker 1: types of debt have surged to all time highs, and

669
00:31:44,720 --> 00:31:47,560
Speaker 1: of course inflation continues to bite into incomes and makes

670
00:31:47,560 --> 00:31:51,040
Speaker 1: it very difficult to keep up on your house payment.

671
00:31:51,320 --> 00:31:53,880
Speaker 1: So some warning signs here that you are a little

672
00:31:53,920 --> 00:31:55,479
Speaker 1: bit troubling about the direction of the economy.

673
00:31:55,560 --> 00:31:56,600
Speaker 3: Yeah, it's always important too.

674
00:31:56,600 --> 00:31:58,479
Speaker 2: And now, so you know, we'll recall this is Florida,

675
00:31:58,520 --> 00:32:01,720
Speaker 2: California and Texas. Florida two of the most booming states

676
00:32:01,720 --> 00:32:03,960
Speaker 2: in the entire Union, so you know, their economies are

677
00:32:04,080 --> 00:32:07,640
Speaker 2: very important to overall GDP. Also, they have the biggest

678
00:32:07,920 --> 00:32:10,920
Speaker 2: housing growth market, so if you do see foreclosures that

679
00:32:10,960 --> 00:32:13,200
Speaker 2: are happening there, we should recall during the two thousand

680
00:32:13,200 --> 00:32:16,680
Speaker 2: and eight crisis, the foreclosures in California were like forty

681
00:32:16,720 --> 00:32:19,760
Speaker 2: percent or whatever of the total. So the housing markets

682
00:32:19,760 --> 00:32:21,720
Speaker 2: in those two states are very important for the overall

683
00:32:22,040 --> 00:32:24,840
Speaker 2: national trends. Another thing I think it's very important Crystal

684
00:32:24,880 --> 00:32:27,680
Speaker 2: to understand here is the role of the Federal Reserve.

685
00:32:27,840 --> 00:32:29,560
Speaker 2: And we have this piece that we can go and

686
00:32:29,560 --> 00:32:32,200
Speaker 2: put up on the screen from Bloomberg, which is that

687
00:32:32,320 --> 00:32:36,320
Speaker 2: they are not currently have any real plans to do

688
00:32:36,360 --> 00:32:38,040
Speaker 2: anything about this. It said the Fed is going to

689
00:32:38,120 --> 00:32:42,160
Speaker 2: keep rates high thanks to inflation fueled by corporate greed.

690
00:32:42,560 --> 00:32:45,920
Speaker 2: Which here's another one which is very interesting, showing pretty

691
00:32:45,920 --> 00:32:49,320
Speaker 2: definitively that a key piece of inflation, not all of inflation.

692
00:32:49,800 --> 00:32:52,520
Speaker 2: Does show you that there's a lot of profiteering that

693
00:32:52,600 --> 00:32:54,920
Speaker 2: is going on right now according to the majority of

694
00:32:54,960 --> 00:32:58,760
Speaker 2: investors themselves. Yes, not according to people, according to the

695
00:32:58,800 --> 00:33:00,680
Speaker 2: actual people in the market right now.

696
00:33:00,760 --> 00:33:01,480
Speaker 5: Yes, yes.

697
00:33:01,600 --> 00:33:05,880
Speaker 1: And you know, greedflation was considered like this fringe crank,

698
00:33:06,200 --> 00:33:08,920
Speaker 1: silly theory that was to be dismissed by all the

699
00:33:08,960 --> 00:33:12,840
Speaker 1: serious people here in DC. Now they are having to

700
00:33:12,880 --> 00:33:15,240
Speaker 1: reckon with the fact that this was a real phenomenon

701
00:33:15,280 --> 00:33:18,120
Speaker 1: and it made up a significant chunk of inflation. In

702
00:33:18,320 --> 00:33:22,040
Speaker 1: this survey that they put out to investors, ninety percent

703
00:33:22,680 --> 00:33:25,800
Speaker 1: of investors said companies on both sides of the Atlantic

704
00:33:25,920 --> 00:33:28,600
Speaker 1: have been raising prices in excess of their own costs

705
00:33:28,600 --> 00:33:33,000
Speaker 1: since the pandemic began. So using the excuse of inflation

706
00:33:33,440 --> 00:33:36,520
Speaker 1: to price gouch is part of what's going on, and

707
00:33:36,520 --> 00:33:40,560
Speaker 1: that's why inflation has come down somewhat. But that's why

708
00:33:40,640 --> 00:33:43,800
Speaker 1: it's been so sticky and hasn't responded as much to

709
00:33:44,160 --> 00:33:47,520
Speaker 1: the Federal Reserve hiking rates as they thought that it would,

710
00:33:48,000 --> 00:33:51,080
Speaker 1: and because it's not a particularly effective tool for dealing

711
00:33:51,160 --> 00:33:54,320
Speaker 1: with the problem of corporations using their monopoly power in

712
00:33:54,360 --> 00:33:57,920
Speaker 1: many instances to price gouge consumers and raise prices way

713
00:33:57,960 --> 00:34:03,160
Speaker 1: beyond the inflation that they were actually experiencing. They asked

714
00:34:03,160 --> 00:34:05,800
Speaker 1: this group of respondents also, hey, what should we do

715
00:34:05,840 --> 00:34:07,680
Speaker 1: about this? And a good chunk of them said, hey,

716
00:34:07,760 --> 00:34:10,279
Speaker 1: tighter monetary policy is the way to go, which you know,

717
00:34:10,320 --> 00:34:12,120
Speaker 1: to me, doesn't make a whole lot of sense given

718
00:34:12,160 --> 00:34:14,400
Speaker 1: we've had. Tighter monetary policy doesn't really seemed to be

719
00:34:14,520 --> 00:34:17,080
Speaker 1: solving the problem. It doesn't directly get at that issue

720
00:34:17,080 --> 00:34:20,200
Speaker 1: of corporate greed. But the ones who said, you know what,

721
00:34:20,239 --> 00:34:23,120
Speaker 1: it's not tighter monetary policy. We need to do something else.

722
00:34:23,440 --> 00:34:26,399
Speaker 1: The things they suggested were better enforcement of anti trust

723
00:34:26,480 --> 00:34:28,840
Speaker 1: laws around mergers. It makes a lot of sense, along

724
00:34:28,880 --> 00:34:32,960
Speaker 1: with efforts to stimulate more competition. Support for higher corporate taxes,

725
00:34:33,000 --> 00:34:37,360
Speaker 1: potentially including windfall charges in areas where price gouging is identified,

726
00:34:37,400 --> 00:34:41,520
Speaker 1: something I definitely support. One blunt recommendation was to quote

727
00:34:41,680 --> 00:34:45,520
Speaker 1: tax them to oblivion now to show you just what

728
00:34:45,600 --> 00:34:48,279
Speaker 1: we're talking about here with regard to greed inflation. I

729
00:34:48,280 --> 00:34:51,400
Speaker 1: actually thought this chart was really told the tale quite effectively.

730
00:34:51,400 --> 00:34:52,160
Speaker 5: Put this up on.

731
00:34:52,160 --> 00:34:57,759
Speaker 1: The screen so you can see profit margins of US

732
00:34:57,920 --> 00:35:02,960
Speaker 1: non financial corporate businesses leading up to twenty twenty, and

733
00:35:03,040 --> 00:35:06,560
Speaker 1: then during the pandemic, when you start having the you know,

734
00:35:06,640 --> 00:35:10,040
Speaker 1: ability of companies to claim inflation and jack up prices,

735
00:35:10,400 --> 00:35:15,719
Speaker 1: those profit margins just absolutely skyrocket and they haven't come

736
00:35:15,840 --> 00:35:20,120
Speaker 1: anywhere close to back to what the levels were previously.

737
00:35:20,600 --> 00:35:23,600
Speaker 1: So it shows you it really is an anomalous period

738
00:35:23,680 --> 00:35:26,840
Speaker 1: that this really is a significant part of the story.

739
00:35:27,280 --> 00:35:30,759
Speaker 1: And you know, Jerne pal again, they're considering what they're

740
00:35:30,760 --> 00:35:33,400
Speaker 1: going to do in terms of interest rates.

741
00:35:33,920 --> 00:35:34,960
Speaker 5: They're meeting this week.

742
00:35:35,040 --> 00:35:37,280
Speaker 1: There is starting to be some dissent on the direction

743
00:35:37,360 --> 00:35:40,239
Speaker 1: that they should go in soccer, because you're now at

744
00:35:40,239 --> 00:35:43,200
Speaker 1: a point where the economy is really on a precipice.

745
00:35:43,320 --> 00:35:45,480
Speaker 1: We've already seen, of course, a number of banks fail.

746
00:35:46,680 --> 00:35:49,800
Speaker 1: Many would argue, okay, that was anomalists. Other banks are fine,

747
00:35:49,960 --> 00:35:53,680
Speaker 1: it's stable. It's not a problem that is not really clear.

748
00:35:54,200 --> 00:35:56,440
Speaker 1: And then you also have things like the foreclosure rate

749
00:35:56,520 --> 00:35:59,319
Speaker 1: ticking up. You have signs that there's increasing softness in

750
00:35:59,480 --> 00:36:03,279
Speaker 1: the labor You have indications that the economy really might

751
00:36:03,320 --> 00:36:05,879
Speaker 1: be starting to crack and on a bit of.

752
00:36:06,080 --> 00:36:07,799
Speaker 5: You know, at a bit of a breaking point. No

753
00:36:07,880 --> 00:36:08,560
Speaker 5: fun intended.

754
00:36:09,160 --> 00:36:12,200
Speaker 1: And so if you continue hiking rates, or even leave

755
00:36:12,320 --> 00:36:15,359
Speaker 1: rates as high as they are, you risk sending us

756
00:36:15,400 --> 00:36:17,520
Speaker 1: into a deep recession with catastrophic counscert.

757
00:36:17,560 --> 00:36:19,560
Speaker 2: Yeah, we actually got some breaking news literally just right

758
00:36:19,600 --> 00:36:20,880
Speaker 2: now about consumer inflation.

759
00:36:20,920 --> 00:36:22,680
Speaker 3: So I'm going to go ahead and read this off.

760
00:36:22,719 --> 00:36:25,920
Speaker 2: The consumer price inflation report from the Fed just came

761
00:36:26,080 --> 00:36:29,000
Speaker 2: or from the government just came out. Inflation continues to cool,

762
00:36:29,040 --> 00:36:32,520
Speaker 2: offering relief to customers. Consumer prices rose four percent in

763
00:36:32,560 --> 00:36:35,799
Speaker 2: the year through May, eleventh consecutive month of declines in

764
00:36:35,840 --> 00:36:37,640
Speaker 2: the pace of inflation.

765
00:36:37,719 --> 00:36:38,879
Speaker 3: That's eleven months so far.

766
00:36:39,320 --> 00:36:42,399
Speaker 2: That may support plans by the Federal Reserve to pause

767
00:36:42,480 --> 00:36:45,840
Speaker 2: interest rate increases just because we have a cooler.

768
00:36:45,680 --> 00:36:47,240
Speaker 3: Quote unquote inflation report.

769
00:36:47,280 --> 00:36:49,879
Speaker 2: That doesn't mean though, that things are rosy, because it's

770
00:36:49,920 --> 00:36:53,600
Speaker 2: still four percent of year over year, only slightly less

771
00:36:53,600 --> 00:36:56,920
Speaker 2: than economists had inspected, cooled down from four point nine

772
00:36:56,960 --> 00:37:00,160
Speaker 2: percent last month. So basically they have been saying is

773
00:37:00,200 --> 00:37:02,960
Speaker 2: that this could give Jerome power and the Federal Reserve

774
00:37:03,280 --> 00:37:07,000
Speaker 2: a pretext to not to at least pause interest rate increases,

775
00:37:07,080 --> 00:37:10,120
Speaker 2: but does not necessarily mean that it is a guarantee,

776
00:37:10,120 --> 00:37:11,680
Speaker 2: and it's not like they're going to bring them down.

777
00:37:11,719 --> 00:37:13,080
Speaker 3: They would just simply pause.

778
00:37:13,160 --> 00:37:16,719
Speaker 2: So high mortgage rates, high borrowing costs, all of that

779
00:37:17,080 --> 00:37:19,360
Speaker 2: here to stay and continue to put down red pressure

780
00:37:19,400 --> 00:37:20,839
Speaker 2: on the economy at least for right now.

781
00:37:20,960 --> 00:37:23,560
Speaker 1: Yeah, and so one window into some of the impact

782
00:37:23,680 --> 00:37:26,440
Speaker 1: that the fed's actions are causing. And this is not

783
00:37:26,560 --> 00:37:29,480
Speaker 1: just about the FED. This is also about the broader economy.

784
00:37:29,480 --> 00:37:31,879
Speaker 1: This is also about commercial real estate. This is also

785
00:37:31,920 --> 00:37:35,600
Speaker 1: about issues regarding crime and homelessness. San Francisco is really

786
00:37:35,600 --> 00:37:37,279
Speaker 1: in a bad way. I mean, I just think there's

787
00:37:37,320 --> 00:37:39,080
Speaker 1: no denying it at this point. Put this up on

788
00:37:39,120 --> 00:37:43,759
Speaker 1: the screen. They're losing some of their hotel owners of

789
00:37:43,840 --> 00:37:47,600
Speaker 1: some of the most prominent properties in the city. I mean,

790
00:37:47,600 --> 00:37:49,840
Speaker 1: these are places that if you've been to San Francisco,

791
00:37:49,920 --> 00:37:54,279
Speaker 1: you've very likely seen in key shopping districts. They say

792
00:37:54,280 --> 00:37:56,399
Speaker 1: that this is according to the Wall Street Journal, they're

793
00:37:56,440 --> 00:37:59,640
Speaker 1: once thriving hotel market suffering its worst stretch in at

794
00:37:59,719 --> 00:38:02,400
Speaker 1: least fifteen years, pummeled by the same forces that have

795
00:38:02,440 --> 00:38:06,400
Speaker 1: emptied out the city's office towers closed, many retail stores.

796
00:38:06,880 --> 00:38:08,600
Speaker 1: Just to give you a sense of the carnage here,

797
00:38:08,640 --> 00:38:11,040
Speaker 1: you've got the owner of the city's Huntington Hotel.

798
00:38:11,120 --> 00:38:13,080
Speaker 5: They sold their property after foreclosure.

799
00:38:13,440 --> 00:38:17,120
Speaker 1: The Hotel San Francisco sold in foreclosure. Club Quarter San

800
00:38:17,160 --> 00:38:20,240
Speaker 1: Francisco has been in default on its loan since twenty twenty,

801
00:38:20,280 --> 00:38:23,799
Speaker 1: may also be headed to foreclosure. Other lodging properties in

802
00:38:23,800 --> 00:38:27,279
Speaker 1: the city also vulnerable. More than twenty additional twenty San

803
00:38:27,280 --> 00:38:30,520
Speaker 1: Francisco hotels facing loans due in the next two years,

804
00:38:31,200 --> 00:38:34,960
Speaker 1: and their biggest potential hotel default yet, Park Hotels and

805
00:38:35,000 --> 00:38:37,960
Speaker 1: Resorts last week said it is stop making loan payments

806
00:38:38,000 --> 00:38:41,480
Speaker 1: on debts secured by the Hilton San Francisco, Union Square

807
00:38:41,520 --> 00:38:45,440
Speaker 1: and Park fifty five San Francisco. Those two hotels alone

808
00:38:45,680 --> 00:38:48,920
Speaker 1: have three thousand rooms between them. They are right in

809
00:38:48,960 --> 00:38:50,719
Speaker 1: the heart, you know, Union Square, I mean, this is

810
00:38:50,760 --> 00:38:54,680
Speaker 1: the heart of San Francisco. These are iconic properties. And

811
00:38:54,800 --> 00:38:58,080
Speaker 1: part of what happened here is a broader story about

812
00:38:58,080 --> 00:39:01,000
Speaker 1: commercial real estate in general, which is so much of

813
00:39:01,040 --> 00:39:05,000
Speaker 1: this debt is coming due, and San Francisco is really

814
00:39:05,040 --> 00:39:07,120
Speaker 1: particularly hard hit for a number of reasons.

815
00:39:07,120 --> 00:39:08,680
Speaker 5: The tech session being among them.

816
00:39:09,280 --> 00:39:13,200
Speaker 1: You know, issues concerning quality of life, homelessness, crime as

817
00:39:13,200 --> 00:39:16,120
Speaker 1: I mentioned before, have really hit them hard as well.

818
00:39:16,480 --> 00:39:19,880
Speaker 1: And you've had so few tech workers going back into

819
00:39:20,000 --> 00:39:23,920
Speaker 1: offices that these offices are completely vacant in many instances.

820
00:39:24,719 --> 00:39:28,120
Speaker 1: So as hotels are coming up on they need to

821
00:39:28,200 --> 00:39:32,080
Speaker 1: refinance these loans. The fact that interest rates have been

822
00:39:32,120 --> 00:39:35,680
Speaker 1: increased so much by the FED makes it wildly unaffordable

823
00:39:35,680 --> 00:39:38,200
Speaker 1: to start with. Lenders are looking at the state of

824
00:39:38,239 --> 00:39:41,040
Speaker 1: affairs and saying, like foot traffic and travel to San

825
00:39:41,080 --> 00:39:44,759
Speaker 1: Francisco is way down, so we don't think that this

826
00:39:44,800 --> 00:39:48,279
Speaker 1: is a particularly good bet. So it looks increasingly like

827
00:39:48,360 --> 00:39:51,440
Speaker 1: San Francisco is in that so called doom loop that

828
00:39:51,520 --> 00:39:54,240
Speaker 1: so many cities are terrified of entering.

829
00:39:54,360 --> 00:39:56,320
Speaker 2: It makes sense to San Francisco and La are probably

830
00:39:56,320 --> 00:39:58,160
Speaker 2: going to be the first heads on the chopping block

831
00:39:58,200 --> 00:40:00,960
Speaker 2: because you reference, they've got the quality of life issues,

832
00:40:00,960 --> 00:40:04,040
Speaker 2: they've got crime, and they've got the debt problem, and

833
00:40:04,080 --> 00:40:07,640
Speaker 2: they've got reducing population, so that it just shows you

834
00:40:07,680 --> 00:40:10,400
Speaker 2: that they were already of course, like in the middle

835
00:40:10,400 --> 00:40:12,840
Speaker 2: of all this downward pressure, the ones that are most

836
00:40:12,960 --> 00:40:14,759
Speaker 2: out there in terms of the risk are the ones

837
00:40:14,800 --> 00:40:17,000
Speaker 2: going to be first to fall. One of the indications.

838
00:40:17,080 --> 00:40:18,600
Speaker 2: Let's put this up there on the screen. You found

839
00:40:18,600 --> 00:40:23,480
Speaker 2: this this morning, Crystal, the Westfield Mall is actually giving

840
00:40:23,560 --> 00:40:28,759
Speaker 2: up its namesake after the Nordstrom closure and given plunging

841
00:40:28,840 --> 00:40:31,359
Speaker 2: sales and foot traffic. For those who have not been,

842
00:40:31,440 --> 00:40:33,719
Speaker 2: I mean, this is a pretty famous shopping center. It's

843
00:40:33,800 --> 00:40:36,840
Speaker 2: the biggest one in all of San Francisco. Is downtown

844
00:40:37,280 --> 00:40:39,960
Speaker 2: was known not even a decade ago as kind of

845
00:40:39,960 --> 00:40:43,479
Speaker 2: a thriving real retail location, and they say for twenty

846
00:40:43,600 --> 00:40:47,840
Speaker 2: years Westfield proudly and successfully operated San Francisco Center, investing

847
00:40:47,840 --> 00:40:49,880
Speaker 2: over that time and the vitality of the property. But

848
00:40:49,960 --> 00:40:53,479
Speaker 2: given the challenging operating conditions in downtown San Francisco, which

849
00:40:53,480 --> 00:40:56,240
Speaker 2: have led to declines in sales, occupancy, and foot traffic,

850
00:40:56,440 --> 00:40:58,800
Speaker 2: we have made the difficult decision to begin the process

851
00:40:58,840 --> 00:41:01,440
Speaker 2: to transfer management to our lender to allow them to

852
00:41:01,480 --> 00:41:04,680
Speaker 2: appoint a receiver to operate the property going forward. I mean,

853
00:41:04,680 --> 00:41:07,440
Speaker 2: this is three hundred this is a thousands of square

854
00:41:07,440 --> 00:41:11,040
Speaker 2: feet of office space, of retail space and more, which

855
00:41:11,200 --> 00:41:14,520
Speaker 2: was a huge get for them, Crystal, and they're basically

856
00:41:14,520 --> 00:41:16,600
Speaker 2: giving it to the bank and being like, this is

857
00:41:16,640 --> 00:41:19,640
Speaker 2: your problem now, we're not even going to try and

858
00:41:19,760 --> 00:41:22,759
Speaker 2: make our debt servicing. So look, I mean, we've got

859
00:41:22,800 --> 00:41:25,920
Speaker 2: the current problem that they are citing as unsafe conditions,

860
00:41:26,160 --> 00:41:29,520
Speaker 2: lack of enforcement against rampant criminal activity, and then you

861
00:41:29,600 --> 00:41:34,319
Speaker 2: combine that with the overall property debt crisis that is

862
00:41:34,360 --> 00:41:34,839
Speaker 2: hitting them.

863
00:41:35,200 --> 00:41:36,839
Speaker 3: This is gonna happen again soon.

864
00:41:37,160 --> 00:41:39,279
Speaker 2: San Francisco is just I mean, like, you know, it's

865
00:41:39,360 --> 00:41:42,320
Speaker 2: so far out there, but you know, as the crisis

866
00:41:42,360 --> 00:41:45,120
Speaker 2: loops in LA will be next. We already did that

867
00:41:45,320 --> 00:41:49,120
Speaker 2: entire piece about LA commercial real estate selling at one

868
00:41:49,160 --> 00:41:52,040
Speaker 2: hundred and fifty five dollars a square foot debt finance

869
00:41:52,120 --> 00:41:55,080
Speaker 2: to two hundred something. It's you know, at a certain point,

870
00:41:55,160 --> 00:41:57,160
Speaker 2: reality is going to smack these people in the face.

871
00:41:57,960 --> 00:42:03,160
Speaker 2: Huge swats of cities La, San Francisco, Chicago, DC.

872
00:42:03,960 --> 00:42:06,360
Speaker 3: Here right here in Washington, d C. New York City.

873
00:42:06,440 --> 00:42:06,960
Speaker 3: They've got an.

874
00:42:06,920 --> 00:42:09,400
Speaker 2: Occupancy rate in New York City of some forty percent

875
00:42:09,520 --> 00:42:12,160
Speaker 2: or something. Yeah that whenever it comes to a full

876
00:42:12,280 --> 00:42:15,319
Speaker 2: like actually back in the office. So work from home

877
00:42:15,600 --> 00:42:18,600
Speaker 2: is great for workers, but it is nuking commercial real estate.

878
00:42:18,640 --> 00:42:20,960
Speaker 2: I don't personally have you know, a lot of sympathy

879
00:42:21,000 --> 00:42:24,279
Speaker 2: for some of these people. But also whenever you hear

880
00:42:24,520 --> 00:42:27,600
Speaker 2: people like Mayor Eric Adams and Governor Kathy Hochel, they're like,

881
00:42:27,719 --> 00:42:29,680
Speaker 2: we need to kind of people back at the office.

882
00:42:29,800 --> 00:42:33,080
Speaker 2: They don't care about like your quality of life or whatever.

883
00:42:33,440 --> 00:42:34,959
Speaker 3: They care about.

884
00:42:34,640 --> 00:42:38,120
Speaker 2: The commercial developers who are lying in their pockets full

885
00:42:38,120 --> 00:42:39,160
Speaker 2: of campaign contribution.

886
00:42:39,360 --> 00:42:42,000
Speaker 1: Yeah, and you are pretty worried about what's going to

887
00:42:42,040 --> 00:42:45,279
Speaker 1: happen here. I mean, San Francisco is an outlier. I

888
00:42:45,320 --> 00:42:47,520
Speaker 1: do want to be clear about that. So with regards

889
00:42:47,560 --> 00:42:51,640
Speaker 1: to Westfield Mall, San Francisco foot traffic was down forty

890
00:42:51,640 --> 00:42:54,000
Speaker 1: two percent between.

891
00:42:53,640 --> 00:42:55,160
Speaker 5: Twenty nineteen and twenty twenty two.

892
00:42:55,560 --> 00:42:59,040
Speaker 1: So in just a few years time, San Francisco foot

893
00:42:59,040 --> 00:43:02,000
Speaker 1: traffic has drop by almost half. If you look at

894
00:43:02,360 --> 00:43:06,440
Speaker 1: all of the other Westfield owned US malls, foot traffic

895
00:43:06,560 --> 00:43:09,400
Speaker 1: was only down two percent. So it is a dramatic

896
00:43:09,440 --> 00:43:14,040
Speaker 1: outlier because it is the beating heart of Silicon Valley

897
00:43:14,080 --> 00:43:17,319
Speaker 1: and the tech world, and those are the companies that,

898
00:43:17,400 --> 00:43:19,719
Speaker 1: first of all, they've had, you know, massive layoffs there.

899
00:43:21,080 --> 00:43:22,880
Speaker 1: While there's a tight labor market and a lot of

900
00:43:22,960 --> 00:43:26,640
Speaker 1: industries in the tech industry, they've seen huge layoffs and

901
00:43:27,160 --> 00:43:29,239
Speaker 1: they were also at the bleeding edge of you know,

902
00:43:29,320 --> 00:43:33,120
Speaker 1: work from home and hybrid work. So the office space

903
00:43:33,160 --> 00:43:37,880
Speaker 1: there is just wiped down, they say. The Chronicle Office building,

904
00:43:37,880 --> 00:43:40,280
Speaker 1: which is a block from that mall, has a sixty

905
00:43:40,320 --> 00:43:44,399
Speaker 1: percent VY can see rate as tenants Yahoo and Autodesks,

906
00:43:44,480 --> 00:43:49,680
Speaker 1: Lisa's Expire. The neighboring office tower four fifteen Natoma, also

907
00:43:49,719 --> 00:43:54,080
Speaker 1: owned by Brickfield, is ready for this ninety seven percent vacant.

908
00:43:54,160 --> 00:43:55,960
Speaker 1: Oh my gosh, ninety seven percent.

909
00:43:56,640 --> 00:43:56,960
Speaker 3: Yeah.

910
00:43:57,040 --> 00:44:00,960
Speaker 1: So San Francisco in particular, but every city is going

911
00:44:01,000 --> 00:44:05,640
Speaker 1: to be groppling with some level of these post pandemic changes.

912
00:44:06,280 --> 00:44:07,840
Speaker 5: They got to come up with the plan fast.

913
00:44:08,560 --> 00:44:10,719
Speaker 1: And you know, you think about San francist like, the

914
00:44:10,760 --> 00:44:13,960
Speaker 1: cost of housing is so wildly unaffordable. They have to

915
00:44:13,960 --> 00:44:17,840
Speaker 1: deal with their affordable housing crisis in order to try

916
00:44:17,880 --> 00:44:20,520
Speaker 1: to bring people back into these cities before. You really

917
00:44:20,600 --> 00:44:23,759
Speaker 1: can't escape this loop. And it is sad because I mean,

918
00:44:23,800 --> 00:44:26,720
Speaker 1: it's an iconic city. It's a beautiful city, the setting,

919
00:44:26,760 --> 00:44:30,560
Speaker 1: it's historic. You know, I have always like, I think

920
00:44:30,560 --> 00:44:32,800
Speaker 1: San Francisco is a really cool place. I always enjoyed

921
00:44:32,840 --> 00:44:35,960
Speaker 1: visiting it. It's very unique. So to see it in

922
00:44:36,000 --> 00:44:38,799
Speaker 1: this kind of trouble is it's it is very sad,

923
00:44:38,800 --> 00:44:39,759
Speaker 1: and I hope they can figure it out.

924
00:44:39,840 --> 00:44:41,960
Speaker 2: Yeah, for those who who watched the show a lot,

925
00:44:42,000 --> 00:44:44,400
Speaker 2: you know the purple tie, I have actually bought that

926
00:44:44,440 --> 00:44:44,799
Speaker 2: at that.

927
00:44:44,800 --> 00:44:46,360
Speaker 3: North Stroom in San Francisco.

928
00:44:46,760 --> 00:44:48,719
Speaker 2: I was attending a weight, I was attending a wedding

929
00:44:48,719 --> 00:44:50,840
Speaker 2: and I literally forgot to bring a tie. And I

930
00:44:50,880 --> 00:44:52,359
Speaker 2: was like, and where do I First of all, people

931
00:44:52,400 --> 00:44:54,200
Speaker 2: in San Francisco, you guys all need to wear ties.

932
00:44:54,239 --> 00:44:56,160
Speaker 3: They abandoned the tie a long time ago.

933
00:44:56,200 --> 00:44:57,319
Speaker 2: So I was like, where do I even get a

934
00:44:57,360 --> 00:44:59,920
Speaker 2: tie in this like worst dress city in the entire country.

935
00:45:00,600 --> 00:45:02,400
Speaker 3: And someone's like, oh, you should go to Northtrum. I

936
00:45:02,400 --> 00:45:03,360
Speaker 3: was like, oh, that's a good idea.

937
00:45:03,480 --> 00:45:05,640
Speaker 2: And I went to the North Trum in this mall,

938
00:45:05,719 --> 00:45:08,000
Speaker 2: this exact one that had closed in Westfield.

939
00:45:08,120 --> 00:45:09,320
Speaker 3: I remember very vividly.

940
00:45:09,400 --> 00:45:10,680
Speaker 5: I've been in this mall too.

941
00:45:11,160 --> 00:45:14,320
Speaker 1: I mean it's really central if you're in downtown San Francis.

942
00:45:14,080 --> 00:45:16,560
Speaker 5: Like, it's really central. It's really visible.

943
00:45:17,040 --> 00:45:19,480
Speaker 1: So when you lose, now, I do you want to

944
00:45:19,480 --> 00:45:21,799
Speaker 1: be clear, Like it's not at all clear that it's

945
00:45:21,800 --> 00:45:24,880
Speaker 1: going to like close all together. It can stay open

946
00:45:25,040 --> 00:45:29,720
Speaker 1: during the bankruptcy process, but you know, we'll see we'll see.

947
00:45:29,520 --> 00:45:30,120
Speaker 3: What happens things.

948
00:45:30,239 --> 00:45:36,319
Speaker 2: Things ain't great, going great for them. Yeah, indeed, let's

949
00:45:36,320 --> 00:45:38,520
Speaker 2: go to the next one here. This is an important story,

950
00:45:38,560 --> 00:45:40,799
Speaker 2: one that we promised to stay on. We said we

951
00:45:40,840 --> 00:45:43,879
Speaker 2: wanted to bring more details if they arose about the

952
00:45:43,920 --> 00:45:47,960
Speaker 2: Biden bribery charges. So yesterday, Senator Chuck Grassley, who has

953
00:45:48,000 --> 00:45:50,120
Speaker 2: been kind of at the forefront of this along with

954
00:45:50,200 --> 00:45:54,640
Speaker 2: the House Republicans investigating the FBI and the claim that

955
00:45:54,680 --> 00:45:58,360
Speaker 2: there is a form which exists inside of the FBI

956
00:45:58,719 --> 00:46:03,759
Speaker 2: or inside of the FBI which details distinct corruption allegations

957
00:46:03,800 --> 00:46:07,120
Speaker 2: and specific bribery charges against President Biden from when he

958
00:46:07,239 --> 00:46:09,920
Speaker 2: was the Vice president of the United States. Chuck Grassley,

959
00:46:09,920 --> 00:46:12,120
Speaker 2: who apparently has seen some of these documents, were given

960
00:46:12,160 --> 00:46:16,000
Speaker 2: an indication of the document around this form, around this allegation,

961
00:46:16,080 --> 00:46:18,279
Speaker 2: gave more details yesterday on the floor of the United

962
00:46:18,280 --> 00:46:20,000
Speaker 2: States Senate. Here's what he had to say.

963
00:46:20,120 --> 00:46:23,880
Speaker 6: At the foreign national who allegedly bribed Joe and Hunter

964
00:46:24,080 --> 00:46:31,000
Speaker 6: Biden allegedly has audio recordings of his conversation with them,

965
00:46:31,040 --> 00:46:38,400
Speaker 6: seventeen such recordings. According to the ten twenty three, the

966
00:46:38,520 --> 00:46:43,120
Speaker 6: foreign national possesses fifteen audio recordings of phone calls between

967
00:46:43,160 --> 00:46:48,319
Speaker 6: him and Hunter Biden. According to the ten twenty three,

968
00:46:49,440 --> 00:46:54,280
Speaker 6: the foreign national possesses two audio recordings of phone calls

969
00:46:54,320 --> 00:46:59,839
Speaker 6: between him and then Vice President Joe Biden. These recordings

970
00:46:59,840 --> 00:47:03,600
Speaker 6: were allegedly kept as a sort of insurance policy for

971
00:47:03,719 --> 00:47:06,200
Speaker 6: the foreign national in case that he got into a

972
00:47:06,280 --> 00:47:10,600
Speaker 6: tight spot. The ten twenty three also indicates that then

973
00:47:10,719 --> 00:47:15,880
Speaker 6: Vice President Joe Biden may have been involved in BUGEMA

974
00:47:16,560 --> 00:47:22,000
Speaker 6: employing Hunter Biden. Based on the facts known to the

975
00:47:22,040 --> 00:47:26,240
Speaker 6: Congress and the public, it's clear that the Justice Department

976
00:47:26,320 --> 00:47:32,480
Speaker 6: the FBI haven't nearly had the same laser focus on

977
00:47:32,520 --> 00:47:33,560
Speaker 6: the Biden family.

978
00:47:33,920 --> 00:47:35,440
Speaker 3: So that's the important detail.

979
00:47:35,480 --> 00:47:39,200
Speaker 2: Basically, what he's given us there Crystal is allegations around

980
00:47:39,280 --> 00:47:43,840
Speaker 2: and at least specificity around quote unquote seventeen recorded calls

981
00:47:43,840 --> 00:47:47,240
Speaker 2: between the BERESMA executive and then Joe and then Hunter Biden,

982
00:47:47,320 --> 00:47:49,280
Speaker 2: specifically the two of them talking.

983
00:47:49,360 --> 00:47:50,400
Speaker 3: Now, in terms.

984
00:47:50,120 --> 00:47:53,040
Speaker 2: Of the believability of this, yeah, I mean we should

985
00:47:53,080 --> 00:47:58,360
Speaker 2: always remember this is coming from an FBI document which

986
00:47:58,400 --> 00:47:59,560
Speaker 2: they fill out.

987
00:47:59,680 --> 00:48:03,160
Speaker 3: It's not necessarily verified. It's just an allegation.

988
00:48:03,320 --> 00:48:05,360
Speaker 2: As in, I could go to the FBI and be like,

989
00:48:05,440 --> 00:48:07,560
Speaker 2: I have information about Crystal Ball.

990
00:48:07,480 --> 00:48:09,239
Speaker 5: And they would twenty five recording exactly, and.

991
00:48:09,200 --> 00:48:12,400
Speaker 2: They would whip out the same form that he's alleging

992
00:48:12,440 --> 00:48:16,160
Speaker 2: exists here, which is unverified information from a confidential source.

993
00:48:16,200 --> 00:48:18,000
Speaker 3: Now that being said, it doesn't mean.

994
00:48:17,880 --> 00:48:20,000
Speaker 2: That it doesn't need to bear scrutiny and we don't

995
00:48:20,040 --> 00:48:22,880
Speaker 2: need to know about this. Who is this foreign individual?

996
00:48:23,040 --> 00:48:26,160
Speaker 2: Is there recording around this? And it's always been central

997
00:48:26,440 --> 00:48:29,200
Speaker 2: to the really the entire case around Hunter Biden, which

998
00:48:29,239 --> 00:48:32,439
Speaker 2: is look for people who don't know, why does Beisma matter.

999
00:48:32,520 --> 00:48:34,440
Speaker 2: It's not just about one hundred and what fifty thousand

1000
00:48:34,440 --> 00:48:37,520
Speaker 2: dollars a month that Hunter was receiving. It's that Ukraine

1001
00:48:37,920 --> 00:48:42,319
Speaker 2: entered Ukrainian Energy Company hired Hunter Biden specifically at the

1002
00:48:42,400 --> 00:48:45,920
Speaker 2: time that his father, Joe Biden, was the head of

1003
00:48:46,160 --> 00:48:50,920
Speaker 2: Ukraine policy for the Obama administration. It was an explicit

1004
00:48:50,960 --> 00:48:53,960
Speaker 2: attempt to try and buy political influence because Biden was

1005
00:48:54,000 --> 00:48:56,840
Speaker 2: the decision maker on all things Ukraine policy while he

1006
00:48:56,920 --> 00:48:58,680
Speaker 2: was the Vice President of the United States. And then,

1007
00:48:58,719 --> 00:49:00,520
Speaker 2: of course, given what was going on right now with

1008
00:49:00,560 --> 00:49:02,680
Speaker 2: the Ukraine War, how can you not say that that

1009
00:49:02,719 --> 00:49:05,000
Speaker 2: didn't have at least some impact. You know, when the

1010
00:49:05,040 --> 00:49:06,400
Speaker 2: history books are written, it's going to be one of

1011
00:49:06,440 --> 00:49:09,360
Speaker 2: the most obvious connections of all time, at least in

1012
00:49:09,440 --> 00:49:12,400
Speaker 2: terms of somebody who literally had portfolio of Ukraine and

1013
00:49:12,440 --> 00:49:14,800
Speaker 2: then literally has a war breakout there whenever that person

1014
00:49:14,840 --> 00:49:18,520
Speaker 2: becomes president. Kind of crazy. Now, was there any influence

1015
00:49:18,840 --> 00:49:22,440
Speaker 2: by the Ukrainian regime buy you know, these bribery charges

1016
00:49:22,480 --> 00:49:24,440
Speaker 2: and did any of that money make its way in

1017
00:49:24,600 --> 00:49:27,680
Speaker 2: any form in any benefit to the current president of

1018
00:49:27,719 --> 00:49:31,319
Speaker 2: the United States? I mean it bears scrutiny, yeah, and

1019
00:49:31,400 --> 00:49:32,560
Speaker 2: it bears possibility.

1020
00:49:32,719 --> 00:49:34,920
Speaker 3: How can you more it is? How can you possibly

1021
00:49:35,000 --> 00:49:36,239
Speaker 3: rule that out? I don't think you can.

1022
00:49:36,360 --> 00:49:37,759
Speaker 5: No, you can, absolutely, you definitely can't.

1023
00:49:37,840 --> 00:49:41,920
Speaker 1: I mean, we already have the type of disgusting and

1024
00:49:42,000 --> 00:49:47,080
Speaker 1: disgraceful but probably legal corruption and shadiness in this case. Ye, Like,

1025
00:49:47,120 --> 00:49:49,560
Speaker 1: that's already there, you know, having Hunter Biden come on

1026
00:49:49,840 --> 00:49:53,120
Speaker 1: like that. It's very clear that peace. The question that

1027
00:49:53,920 --> 00:49:57,359
Speaker 1: these allegations from Grossly and Jamie Comer and others get

1028
00:49:57,400 --> 00:49:59,920
Speaker 1: to is whether you have actually out and out, like

1029
00:50:00,200 --> 00:50:04,000
Speaker 1: direct illegal bribery, which is a very high bar now

1030
00:50:04,080 --> 00:50:06,880
Speaker 1: according to the Supreme Court. Now, I've been trying to

1031
00:50:06,920 --> 00:50:08,920
Speaker 1: follow this thread, and there are a couple of pieces

1032
00:50:08,960 --> 00:50:10,880
Speaker 1: of it that I'm struggling, so I'm going to try

1033
00:50:10,880 --> 00:50:12,239
Speaker 1: to lay this out and sorry, you tell me if

1034
00:50:12,280 --> 00:50:15,759
Speaker 1: I have this right. So my understanding is Grassly the

1035
00:50:15,840 --> 00:50:18,600
Speaker 1: reason he's speaking out is because he actually saw this

1036
00:50:18,800 --> 00:50:21,360
Speaker 1: full document unredacted.

1037
00:50:21,600 --> 00:50:24,960
Speaker 5: Okay. A while back then, there was a.

1038
00:50:24,840 --> 00:50:29,239
Speaker 1: Push from the House Subcommittee on Weaponization of Government to

1039
00:50:29,320 --> 00:50:32,040
Speaker 1: get access to this document. They were threatening to hold

1040
00:50:32,280 --> 00:50:35,000
Speaker 1: Christopher Ray, who's the head of the FBI, in contempt

1041
00:50:35,440 --> 00:50:41,279
Speaker 1: over not providing this document. So he partially relents and

1042
00:50:41,400 --> 00:50:45,080
Speaker 1: gives them access to the documents. However, pieces of it

1043
00:50:45,120 --> 00:50:49,120
Speaker 1: are redacted, and what Grassly is asserting is part of

1044
00:50:49,160 --> 00:50:53,839
Speaker 1: what was redacted were the you know, the allegations that

1045
00:50:53,880 --> 00:50:58,000
Speaker 1: this foreign national had these audio recordings of both Hunter

1046
00:50:58,520 --> 00:51:02,279
Speaker 1: and of President Joe Biden. And so what Grassley is

1047
00:51:02,320 --> 00:51:06,040
Speaker 1: doing here is saying, hey, FBI, okay, sure you showed

1048
00:51:06,120 --> 00:51:07,560
Speaker 1: us a part, and you showed the House a part

1049
00:51:07,560 --> 00:51:09,960
Speaker 1: of this. I saw the whole part, the whole thing,

1050
00:51:10,440 --> 00:51:13,440
Speaker 1: and here's the piece that you're leaving out. So you

1051
00:51:13,520 --> 00:51:15,560
Speaker 1: need to explain why you're leaving that out, and you

1052
00:51:15,600 --> 00:51:18,400
Speaker 1: need to come clean about everything that is contained in

1053
00:51:18,480 --> 00:51:20,560
Speaker 1: this document, both of this committee and to the American people.

1054
00:51:20,600 --> 00:51:22,600
Speaker 3: That's an excellent summary. That's effectively what's going on.

1055
00:51:22,680 --> 00:51:24,359
Speaker 2: Now. We have a contempt vote that could be coming

1056
00:51:24,440 --> 00:51:27,320
Speaker 2: up in Congress where they'll be voting whether to hold

1057
00:51:27,320 --> 00:51:30,440
Speaker 2: the FBI director directly in the contempt. That's to try

1058
00:51:30,480 --> 00:51:33,200
Speaker 2: and force their hand to give them the full, unredacted document.

1059
00:51:33,400 --> 00:51:35,360
Speaker 2: We should also remind people of what you brought up

1060
00:51:35,360 --> 00:51:38,680
Speaker 2: though yesterday, Crystal, which is even whenever Comer was asked

1061
00:51:38,719 --> 00:51:41,120
Speaker 2: about this. Yeah, the committee they said, do you have

1062
00:51:41,160 --> 00:51:43,279
Speaker 2: evidence he committed crimes? You said, well, they should have

1063
00:51:43,280 --> 00:51:46,600
Speaker 2: been crimes. So they're not yet definitively declaring that an

1064
00:51:46,640 --> 00:51:50,200
Speaker 2: official crime has been has happened here. Now, look, I

1065
00:51:50,200 --> 00:51:52,680
Speaker 2: don't even care whether it's technically a crime or not.

1066
00:51:53,040 --> 00:51:55,000
Speaker 2: I just want to know, did the guide take money

1067
00:51:55,000 --> 00:51:58,680
Speaker 2: from the Ukrainian or energy company or not? Very simple?

1068
00:51:58,920 --> 00:52:02,200
Speaker 2: We know Hunter, Did we know that Hunter floated Biden's

1069
00:52:02,239 --> 00:52:05,160
Speaker 2: brother James many times. They have all kinds of crazy

1070
00:52:05,200 --> 00:52:08,080
Speaker 2: and insane schemes together where they profited a hell of

1071
00:52:08,120 --> 00:52:10,000
Speaker 2: a lot from the Chinese regime, from a lot of

1072
00:52:10,040 --> 00:52:13,640
Speaker 2: other different around the world, Romania, all these other you know,

1073
00:52:13,680 --> 00:52:16,560
Speaker 2: one of the richest men and women in Moscow wiring Hunter,

1074
00:52:16,920 --> 00:52:19,719
Speaker 2: all this money, these all apparently just get swept under

1075
00:52:19,719 --> 00:52:23,000
Speaker 2: the rug. I mean, just as bad as Jared kushner

1076
00:52:23,080 --> 00:52:25,560
Speaker 2: Saudi grift is, which I guess is probably more monumental

1077
00:52:25,600 --> 00:52:27,240
Speaker 2: in terms of an overall dollar scale.

1078
00:52:27,600 --> 00:52:30,520
Speaker 3: It's not two billion dollars. It's still just as bad

1079
00:52:30,560 --> 00:52:32,160
Speaker 3: as what's going on with Hunter.

1080
00:52:32,239 --> 00:52:34,440
Speaker 2: And it's actually a perfect view to why all this

1081
00:52:34,440 --> 00:52:36,480
Speaker 2: should be straight up illegal. But you know, I'm not

1082
00:52:36,480 --> 00:52:39,080
Speaker 2: going to hold my breath on any of that. That's

1083
00:52:39,120 --> 00:52:42,040
Speaker 2: basically what we know so far in terms of the details.

1084
00:52:42,200 --> 00:52:44,239
Speaker 2: Chuck Grassley says he saw the document. One of the

1085
00:52:44,239 --> 00:52:45,880
Speaker 2: reasons why they didn't even get the document earlier is

1086
00:52:45,880 --> 00:52:48,240
Speaker 2: because they didn't have subpoena power. The Democrats had controlled

1087
00:52:48,280 --> 00:52:51,120
Speaker 2: the Senate, the Republicans had didn't have control of the House.

1088
00:52:51,640 --> 00:52:53,520
Speaker 2: So now that they do, this is something that they've

1089
00:52:53,560 --> 00:52:55,440
Speaker 2: been wanting to zero in on for quite some time.

1090
00:52:55,760 --> 00:52:58,600
Speaker 2: Jim Jordan Comer many of these others trying to get

1091
00:52:58,640 --> 00:53:00,759
Speaker 2: to the bottom of it. Whether any of it will

1092
00:53:00,800 --> 00:53:04,000
Speaker 2: actually come out, I remain skeptical, just because even if

1093
00:53:04,000 --> 00:53:06,760
Speaker 2: it does, Crystal the line is going to be, Yeah,

1094
00:53:06,760 --> 00:53:09,480
Speaker 2: but where are the actual recordings? I mean, do they

1095
00:53:09,480 --> 00:53:13,000
Speaker 2: even exist, and all of this is quote unquote unverified.

1096
00:53:13,040 --> 00:53:15,160
Speaker 2: I mean also it could give us insight if they

1097
00:53:15,200 --> 00:53:18,000
Speaker 2: had this information and they ruled it out. Well, on

1098
00:53:18,080 --> 00:53:20,920
Speaker 2: what basis did you rule this out? And what investigation?

1099
00:53:21,000 --> 00:53:23,160
Speaker 2: Did you even launch? An investigation that would be a

1100
00:53:23,200 --> 00:53:25,720
Speaker 2: scandal in and of itself. How did the FBI handle

1101
00:53:25,760 --> 00:53:26,719
Speaker 2: this whenever they learned about it?

1102
00:53:26,760 --> 00:53:29,160
Speaker 5: One hundred percent, and we deserve answers on all of that.

1103
00:53:29,239 --> 00:53:30,600
Speaker 5: I don't think there's any doubt about it.

1104
00:53:30,640 --> 00:53:33,080
Speaker 1: And there's, like I said, there's already enough shadiness and

1105
00:53:33,920 --> 00:53:38,200
Speaker 1: probably legal unfortunately corruption that is in the public record

1106
00:53:38,239 --> 00:53:42,200
Speaker 1: for us all to you doubt the veracity of the

1107
00:53:42,200 --> 00:53:43,960
Speaker 1: Biden version of this story.

1108
00:53:44,160 --> 00:53:45,400
Speaker 5: But it's also important to keep in.

1109
00:53:45,440 --> 00:53:48,160
Speaker 1: Mind, I mean, Comer is effectively out and out admitted

1110
00:53:48,160 --> 00:53:50,000
Speaker 1: that the purpose of this committee is to dig Joe

1111
00:53:50,040 --> 00:53:52,600
Speaker 1: Biden so that Republicans can be in the back in

1112
00:53:52,640 --> 00:53:55,040
Speaker 1: the White House. So it's not like these people don't

1113
00:53:55,040 --> 00:53:58,000
Speaker 1: have a partisan motive as well. So just remember we're

1114
00:53:58,000 --> 00:53:59,840
Speaker 1: dealing with dishonest actors all the way around.

1115
00:54:00,120 --> 00:54:02,440
Speaker 2: That's what makes covering this always difficult, yes, you know,

1116
00:54:02,840 --> 00:54:04,640
Speaker 2: and you know we always try and preface that too

1117
00:54:04,719 --> 00:54:06,680
Speaker 2: with FBI. We're like, look, we're not saying we're trust

1118
00:54:06,680 --> 00:54:09,200
Speaker 2: the FBI here. I don't trust in many of the

1119
00:54:09,239 --> 00:54:10,640
Speaker 2: actors that's going on.

1120
00:54:10,680 --> 00:54:11,920
Speaker 3: I want cold hard facts.

1121
00:54:12,320 --> 00:54:15,840
Speaker 2: See if they if they're saying there's a recording of

1122
00:54:15,920 --> 00:54:18,759
Speaker 2: Joe and Hunter talking business, I need to hear that

1123
00:54:18,800 --> 00:54:19,239
Speaker 2: phone call.

1124
00:54:19,400 --> 00:54:20,400
Speaker 3: I need to hear it yesterday.

1125
00:54:20,400 --> 00:54:22,239
Speaker 2: So, by the way, if you're out there, let us know.

1126
00:54:22,320 --> 00:54:24,240
Speaker 2: I'd be happy to take a listen to it. Whoever

1127
00:54:24,280 --> 00:54:26,880
Speaker 2: you are foreign national, we will protect you and we

1128
00:54:27,000 --> 00:54:28,920
Speaker 2: will play it here on the show. I don't care

1129
00:54:28,960 --> 00:54:32,279
Speaker 2: what the political consequences of that one are. Okay, let's

1130
00:54:32,280 --> 00:54:36,000
Speaker 2: go ahead and talk about Tucker Carlson and this new

1131
00:54:36,120 --> 00:54:39,520
Speaker 2: development in the war between him and Fox News. Let's

1132
00:54:39,520 --> 00:54:41,960
Speaker 2: put this up here on the screen, guys. Fox News

1133
00:54:42,080 --> 00:54:45,160
Speaker 2: escalating its actions against Tucker, saying they have sent a

1134
00:54:45,239 --> 00:54:48,239
Speaker 2: cease and desist letter to Tucker as he ramps up

1135
00:54:48,320 --> 00:54:51,080
Speaker 2: the competing series on Twitter that has drew a combined

1136
00:54:51,160 --> 00:54:53,520
Speaker 2: quote one hundred and sixty nine million views for its

1137
00:54:53,560 --> 00:54:57,280
Speaker 2: first two episodes. Now, it's important to note here Fox

1138
00:54:57,360 --> 00:55:01,359
Speaker 2: did not actually release the seasoned decist letter. It's very

1139
00:55:01,480 --> 00:55:05,120
Speaker 2: likely Tucker's legal team because in bold at the very

1140
00:55:05,200 --> 00:55:10,040
Speaker 2: top of the letter is quote not for publication. Tucker

1141
00:55:10,080 --> 00:55:14,480
Speaker 2: and his legal team have really hitten back at Fox News,

1142
00:55:14,800 --> 00:55:18,040
Speaker 2: maintaining that it is his First Amendment right to be

1143
00:55:18,080 --> 00:55:20,840
Speaker 2: able to continue posting on Twitter, and he says that

1144
00:55:20,920 --> 00:55:24,759
Speaker 2: Fox has already committed material breaches of his own contract,

1145
00:55:24,800 --> 00:55:27,759
Speaker 2: which frees him up to do this. Fox, though, is

1146
00:55:27,800 --> 00:55:31,160
Speaker 2: continuing to pay Tucker Carlson. They say that the contract

1147
00:55:31,239 --> 00:55:35,000
Speaker 2: keeps his content all content exclusive to Fox all the

1148
00:55:35,040 --> 00:55:38,879
Speaker 2: way through December thirty one of twenty twenty four. So

1149
00:55:38,960 --> 00:55:42,840
Speaker 2: currently right now, the Tucker Carlson on Twitter show Crystal

1150
00:55:43,120 --> 00:55:46,879
Speaker 2: is scheduled to return actually today on Tuesday. Tucker said

1151
00:55:46,920 --> 00:55:50,399
Speaker 2: that Tucker's executive producer, Justin Wells, his former producer on

1152
00:55:50,440 --> 00:55:53,480
Speaker 2: his original show Tucker Carlson, tonight was said that they

1153
00:55:53,520 --> 00:55:56,120
Speaker 2: would be returning on Tuesday, so that Tucker gave his

1154
00:55:56,239 --> 00:55:59,719
Speaker 2: thoughts on the Trump indictment. Now, why I think this

1155
00:55:59,800 --> 00:56:02,960
Speaker 2: is a important is no signs of stopping the original

1156
00:56:03,000 --> 00:56:06,520
Speaker 2: Tucker Carlson on Twitter show was released. Fox News came

1157
00:56:06,560 --> 00:56:08,600
Speaker 2: to them and said, hey, you need to stop doing that,

1158
00:56:08,960 --> 00:56:10,279
Speaker 2: or we're going to say that you're in a breech

1159
00:56:10,320 --> 00:56:13,280
Speaker 2: of contract. He released a second show. Then they've officially

1160
00:56:13,320 --> 00:56:16,280
Speaker 2: said this now cease and desist letter. Well, the legal

1161
00:56:16,320 --> 00:56:19,400
Speaker 2: team also is saying that this is not going to stop.

1162
00:56:19,560 --> 00:56:21,280
Speaker 2: Let's put this next one up on the screen. Harmey

1163
00:56:21,400 --> 00:56:25,200
Speaker 2: Dylan a well known Republican lawyer. She is also representing

1164
00:56:25,400 --> 00:56:27,880
Speaker 2: Tucker Carlson as well. She tweeted this out yesterday, my

1165
00:56:27,960 --> 00:56:30,200
Speaker 2: friend and client Tucker will not be silenced by the

1166
00:56:30,239 --> 00:56:33,719
Speaker 2: far left or by Fox News. And Harmeat actually was

1167
00:56:33,719 --> 00:56:36,080
Speaker 2: a very frequent guest on the Fox News program. She

1168
00:56:36,200 --> 00:56:39,280
Speaker 2: said she will no longer being appear on the network

1169
00:56:39,400 --> 00:56:44,240
Speaker 2: at all as this war continues, and really it reveals,

1170
00:56:44,280 --> 00:56:46,520
Speaker 2: you know, kind of the war that's going on behind

1171
00:56:46,520 --> 00:56:49,759
Speaker 2: the scenes. And also in terms of this whole non compete.

1172
00:56:49,800 --> 00:56:51,360
Speaker 2: I mean, and you and I tak Tucker out of it.

1173
00:56:51,360 --> 00:56:53,000
Speaker 2: You and I have also been at the center of

1174
00:56:53,040 --> 00:56:56,000
Speaker 2: this nonsense before. These things should be straight up be lease,

1175
00:56:56,520 --> 00:56:59,799
Speaker 2: there's no reason people should be bound by this, whether

1176
00:56:59,840 --> 00:57:02,799
Speaker 2: they can fake pay you not to work. I mean, yeah,

1177
00:57:02,800 --> 00:57:04,719
Speaker 2: it sounds like a decent deal, but to me, it

1178
00:57:04,760 --> 00:57:07,080
Speaker 2: is a violation of First Amendment, right. It's like what

1179
00:57:07,120 --> 00:57:09,920
Speaker 2: a company owns, not only your image, your likeness, but

1180
00:57:10,000 --> 00:57:13,000
Speaker 2: your ability to say anything about what you think whatsoever.

1181
00:57:13,160 --> 00:57:14,920
Speaker 2: He's not even making any money off it's not like

1182
00:57:14,960 --> 00:57:17,280
Speaker 2: you charge anything. It's not like Elon is paying him.

1183
00:57:17,320 --> 00:57:20,360
Speaker 2: It's straight up his ability to put thoughts out online.

1184
00:57:20,440 --> 00:57:25,320
Speaker 1: Yeah, it has major implications way beyond Tucker, because every

1185
00:57:25,360 --> 00:57:28,440
Speaker 1: single media contract has these non competes in them. And

1186
00:57:28,480 --> 00:57:30,280
Speaker 1: by the way, I mean, this is like the super

1187
00:57:30,360 --> 00:57:32,720
Speaker 1: high brow version of this problem of this problem where

1188
00:57:32,720 --> 00:57:34,920
Speaker 1: it's like you can't work, you can't go to work

1189
00:57:34,920 --> 00:57:36,840
Speaker 1: for any other network for some period of time, and

1190
00:57:36,840 --> 00:57:38,520
Speaker 1: we're going to still pay you millions to do just

1191
00:57:38,560 --> 00:57:40,520
Speaker 1: like that's the high brow version of this problem. You're right,

1192
00:57:40,560 --> 00:57:44,560
Speaker 1: these non competes are also becoming rife, you know, throughout

1193
00:57:44,640 --> 00:57:47,760
Speaker 1: our society, even like sandwich shops.

1194
00:57:47,400 --> 00:57:49,160
Speaker 3: Workers believe it's Jimmy Johnson.

1195
00:57:49,200 --> 00:57:51,680
Speaker 1: Yeah, having a sign non competes. They can't go down

1196
00:57:51,720 --> 00:57:53,720
Speaker 1: the street and work for Subway or whatever. I mean,

1197
00:57:53,760 --> 00:57:57,760
Speaker 1: it's just completely it's gotten wildly out of hand. And

1198
00:57:57,840 --> 00:57:59,880
Speaker 1: so as I said before, you've got sort of like

1199
00:58:00,040 --> 00:58:03,600
Speaker 1: Tucker aligning with the Biden administration and the post unpredicted

1200
00:58:04,280 --> 00:58:07,400
Speaker 1: horseshoe of all time to do away with these non

1201
00:58:07,440 --> 00:58:10,960
Speaker 1: compete clauses because it is. It is really abusive, and

1202
00:58:11,000 --> 00:58:14,240
Speaker 1: the ones in media contracts are particularly bad because they lock.

1203
00:58:14,120 --> 00:58:15,840
Speaker 5: You up for a long period of time.

1204
00:58:16,160 --> 00:58:19,160
Speaker 1: And if Fox is arguing now, as they clearly are,

1205
00:58:19,320 --> 00:58:21,560
Speaker 1: that even like you know, being able to put on

1206
00:58:21,680 --> 00:58:25,520
Speaker 1: a video on Twitter, that that's banned by your non compete,

1207
00:58:25,560 --> 00:58:27,760
Speaker 1: it's I have no idea how.

1208
00:58:27,600 --> 00:58:29,160
Speaker 5: The courts are going to view this. I'm sure it

1209
00:58:29,160 --> 00:58:30,840
Speaker 5: will depend a lot on what judge again and all

1210
00:58:30,880 --> 00:58:31,240
Speaker 5: that kind.

1211
00:58:31,160 --> 00:58:34,840
Speaker 1: Of stuff, but it could have really far reaching consequences

1212
00:58:34,880 --> 00:58:38,120
Speaker 1: for the entire media landscape. If a judge comes in

1213
00:58:38,160 --> 00:58:41,919
Speaker 1: and says, no, you know, this non compete is either

1214
00:58:42,200 --> 00:58:44,480
Speaker 1: unconstitutional to start with, I mean, that would be an

1215
00:58:44,480 --> 00:58:48,560
Speaker 1: earthquake in media and like across the entire economy. But

1216
00:58:48,760 --> 00:58:51,680
Speaker 1: if they even specifically say, you know, no Twitter, that

1217
00:58:51,840 --> 00:58:54,360
Speaker 1: it doesn't apply to Twitter, it doesn't apply to social media,

1218
00:58:54,400 --> 00:58:57,280
Speaker 1: doesn't apply to these other platforms, that would be huge

1219
00:58:57,400 --> 00:59:00,960
Speaker 1: as well, because then any creator who feels like they

1220
00:59:01,000 --> 00:59:03,760
Speaker 1: have that pull with an audience, they can at any

1221
00:59:03,800 --> 00:59:05,919
Speaker 1: point that gives them a lot more power to say

1222
00:59:05,920 --> 00:59:08,720
Speaker 1: screwed you to their bosses when you know they want

1223
00:59:08,760 --> 00:59:11,520
Speaker 1: him to wear the sweater or whatever. It is and

1224
00:59:11,720 --> 00:59:15,040
Speaker 1: go and create their own product. So it could be

1225
00:59:15,160 --> 00:59:18,640
Speaker 1: quite significant if that is the case. Fox News clearly

1226
00:59:18,640 --> 00:59:20,520
Speaker 1: wants to keep him off the air through the election.

1227
00:59:20,960 --> 00:59:23,160
Speaker 1: I totally understand why. I mean, he was a huge

1228
00:59:23,240 --> 00:59:25,560
Speaker 1: ratings generator for them. They have not been able to

1229
00:59:25,600 --> 00:59:28,480
Speaker 1: even come close to filling his shoes in that slot

1230
00:59:28,640 --> 00:59:31,360
Speaker 1: just in terms of audience numbers and ratings. Now he

1231
00:59:31,400 --> 00:59:33,520
Speaker 1: had become somewhat of a liability for them with regard

1232
00:59:33,600 --> 00:59:36,120
Speaker 1: to advertisers. So, like the business piece of it is

1233
00:59:36,120 --> 00:59:38,680
Speaker 1: a little bit less clear cut, but there's no doubt

1234
00:59:38,800 --> 00:59:42,480
Speaker 1: they want him disappeared at least through the next presidential election.

1235
00:59:42,760 --> 00:59:44,960
Speaker 1: And I think it's going to be quite consequential what

1236
00:59:45,000 --> 00:59:45,480
Speaker 1: happens here.

1237
00:59:45,560 --> 00:59:46,520
Speaker 3: Yeah. Absolutely, So.

1238
00:59:47,000 --> 00:59:51,800
Speaker 2: Tucker is scheduled to interview Ron DeSantis at an event

1239
00:59:52,360 --> 00:59:56,320
Speaker 2: in the near future, interesting Turning Point USA conference where

1240
00:59:56,320 --> 00:59:58,640
Speaker 2: he was already scheduled to speak. I'm told that he

1241
00:59:58,720 --> 01:00:02,360
Speaker 2: will still likely be appearing there. He remains on the schedule.

1242
01:00:02,360 --> 01:00:05,520
Speaker 2: There's another event and conference, but put on by ISI,

1243
01:00:05,600 --> 01:00:09,640
Speaker 2: where he's also scheduled to continue to speak. So those comments,

1244
01:00:09,640 --> 01:00:11,360
Speaker 2: I think we'll all be watching close because that's the

1245
01:00:11,360 --> 01:00:14,800
Speaker 2: first time he'll have been speaking outside of a produced environment,

1246
01:00:15,120 --> 01:00:17,000
Speaker 2: especially the DeSantis one. He's going to be at a

1247
01:00:17,000 --> 01:00:19,640
Speaker 2: conference and be interviewing DeSantis there on the stage. I'm

1248
01:00:19,640 --> 01:00:22,000
Speaker 2: interested to see why DeSantis even agreed to be interviewed

1249
01:00:22,120 --> 01:00:25,120
Speaker 2: by Tucker because I'm hoping it gets him on Ukraine

1250
01:00:25,200 --> 01:00:28,080
Speaker 2: on the complete waffle that happened whenever he submitted an

1251
01:00:28,080 --> 01:00:31,080
Speaker 2: answer to Tucker and then changed his answer completely in

1252
01:00:31,120 --> 01:00:32,360
Speaker 2: an interview later on.

1253
01:00:32,480 --> 01:00:33,880
Speaker 3: So what do you believe? Man?

1254
01:00:33,920 --> 01:00:37,600
Speaker 2: You know, are you pro Ukraine AID or anti Ukraine AID? Like,

1255
01:00:37,680 --> 01:00:41,680
Speaker 2: give us a straightforward answer on what he believes on that.

1256
01:00:41,800 --> 01:00:44,640
Speaker 2: So overall, it's not like they are one silence him

1257
01:00:44,680 --> 01:00:47,920
Speaker 2: in certain terms of his show just yet, and he

1258
01:00:48,040 --> 01:00:50,440
Speaker 2: is still scheduled to have some sort of electoral impact,

1259
01:00:50,480 --> 01:00:51,920
Speaker 2: which I think is what they were scared of in

1260
01:00:52,000 --> 01:00:52,560
Speaker 2: the first place.

1261
01:00:52,840 --> 01:00:55,080
Speaker 1: I'm a little surprised DeSantis is doing that, to be

1262
01:00:55,120 --> 01:00:58,320
Speaker 1: honest with you, because he's very careful about his media appearances,

1263
01:00:58,400 --> 01:01:01,320
Speaker 1: and you know, it's unlikely that this will be entirely

1264
01:01:01,360 --> 01:01:03,080
Speaker 1: comfortable and one hundred percent softball.

1265
01:01:03,160 --> 01:01:04,560
Speaker 5: So that will be interesting to watch.

1266
01:01:05,080 --> 01:01:08,520
Speaker 1: With regard to Tucker on Twitter, you know, it does

1267
01:01:08,600 --> 01:01:11,080
Speaker 1: really beg the question, like what is the limiting principle

1268
01:01:11,240 --> 01:01:15,280
Speaker 1: of these non competes because even him, you know, live

1269
01:01:15,360 --> 01:01:18,600
Speaker 1: streaming and interview with Ron de Santis is that of

1270
01:01:18,720 --> 01:01:21,280
Speaker 1: breach of his contract? Is Fox News consider that to

1271
01:01:21,360 --> 01:01:24,720
Speaker 1: be in violation of non compete? I mean, just in

1272
01:01:24,760 --> 01:01:27,080
Speaker 1: the modern landscape, where does it end? Can you do

1273
01:01:27,160 --> 01:01:29,040
Speaker 1: a podcast? Can you send a tweet? Can you do

1274
01:01:29,080 --> 01:01:32,040
Speaker 1: an Instagram live? Can you post YouTube video? Can you

1275
01:01:32,080 --> 01:01:33,880
Speaker 1: go on Rumble? Can you go on somebody else's show

1276
01:01:33,920 --> 01:01:34,360
Speaker 1: on Rumble?

1277
01:01:34,400 --> 01:01:37,240
Speaker 5: Like? What is? What are the constraints?

1278
01:01:37,280 --> 01:01:40,520
Speaker 1: And it does give credence to his First Amendment argument

1279
01:01:40,640 --> 01:01:42,760
Speaker 1: that if they're saying basically no, no, all of that

1280
01:01:42,960 --> 01:01:46,840
Speaker 1: is off the table, then you are completely quashing someone's

1281
01:01:47,000 --> 01:01:50,520
Speaker 1: ability to speak. So I do think it's important. You know,

1282
01:01:50,680 --> 01:01:53,120
Speaker 1: I am far from a Tucker fan. I have a

1283
01:01:53,240 --> 01:01:55,280
Speaker 1: lot of issues with his politics and a lot of

1284
01:01:55,320 --> 01:01:58,360
Speaker 1: things that he says. But if you take him out

1285
01:01:58,400 --> 01:02:01,360
Speaker 1: of it and consider just what this means for independent media,

1286
01:02:01,400 --> 01:02:03,360
Speaker 1: what it means for the media landscape, it's actually a

1287
01:02:03,360 --> 01:02:04,120
Speaker 1: really important case.

1288
01:02:04,200 --> 01:02:06,400
Speaker 3: Yeah, well, we believe in free speech no matter what.

1289
01:02:06,440 --> 01:02:09,200
Speaker 2: We were personally impacted by these bs non competes and

1290
01:02:09,240 --> 01:02:12,160
Speaker 2: can't even imagine the level, the amount of bs that

1291
01:02:12,200 --> 01:02:13,920
Speaker 2: we had to go through just to be able to

1292
01:02:13,920 --> 01:02:15,680
Speaker 2: put this show on the air.

1293
01:02:15,760 --> 01:02:18,080
Speaker 5: We're basically hell yeah, there's yeah.

1294
01:02:18,240 --> 01:02:20,000
Speaker 2: You can't go into too many details, but there are

1295
01:02:20,000 --> 01:02:22,080
Speaker 2: a couple of guns to the old heads here of

1296
01:02:22,120 --> 01:02:25,120
Speaker 2: Crystal at Tager, who, by the way, were the crazy ones,

1297
01:02:25,120 --> 01:02:26,840
Speaker 2: because we were like, okay, we'll walk, you know, and

1298
01:02:26,840 --> 01:02:29,000
Speaker 2: it's like we're we we really kind of put it

1299
01:02:29,080 --> 01:02:30,960
Speaker 2: up to the edge and we're willing to basically be

1300
01:02:31,320 --> 01:02:34,440
Speaker 2: unemployed for a while, which is the only reason things

1301
01:02:34,880 --> 01:02:36,320
Speaker 2: worked out on our end. But you know, not a

1302
01:02:36,360 --> 01:02:40,120
Speaker 2: lot of people have the luxury of saying, okay, you know,

1303
01:02:40,160 --> 01:02:42,680
Speaker 2: we won't get paid and to take the big risk

1304
01:02:42,800 --> 01:02:44,840
Speaker 2: kind of that we did here. So anyway, that's actually

1305
01:02:44,840 --> 01:02:47,840
Speaker 2: always a good reminder. Thank you all so much. You

1306
01:02:47,920 --> 01:02:50,840
Speaker 2: show success because without it, you know, we'd be starving

1307
01:02:50,960 --> 01:02:52,080
Speaker 2: in the Yeah, it's.

1308
01:02:51,960 --> 01:02:54,400
Speaker 1: Easy to forget that was that when we're sitting here

1309
01:02:54,400 --> 01:02:56,360
Speaker 1: on our beautiful news right, But it took a lot

1310
01:02:56,400 --> 01:02:56,800
Speaker 1: to get here.

1311
01:02:56,920 --> 01:02:58,840
Speaker 5: Took you guys, You guys made it happen.

1312
01:03:02,000 --> 01:03:03,360
Speaker 3: Crystal, what do you take a look at.

1313
01:03:03,360 --> 01:03:05,640
Speaker 1: There is a huge fight brewing as we speak that

1314
01:03:05,680 --> 01:03:07,760
Speaker 1: you definitely have a stake in, but probably do not

1315
01:03:07,840 --> 01:03:08,560
Speaker 1: even know about.

1316
01:03:08,800 --> 01:03:09,200
Speaker 5: UPS.

1317
01:03:09,240 --> 01:03:12,280
Speaker 1: Workers organized by the Teamsters are voting right now on

1318
01:03:12,320 --> 01:03:15,880
Speaker 1: a strike authorization. We're talking about nearly three hundred and

1319
01:03:16,000 --> 01:03:19,960
Speaker 1: fifty thousand workers casting ballots to indicate whether they are

1320
01:03:20,000 --> 01:03:24,080
Speaker 1: ready to walk if contract negotiations fail. By sheer numbers alone,

1321
01:03:24,160 --> 01:03:26,480
Speaker 1: if these workers were to actually hit the picket lines,

1322
01:03:26,520 --> 01:03:29,280
Speaker 1: it would be among the largest strikes in US history.

1323
01:03:29,320 --> 01:03:32,600
Speaker 1: And of course, these aren't just any workers. Especially post pandemic,

1324
01:03:32,600 --> 01:03:35,480
Speaker 1: our nation runs on package delivery. These are the men

1325
01:03:35,480 --> 01:03:37,680
Speaker 1: and women who do all the labor of getting those

1326
01:03:37,680 --> 01:03:39,640
Speaker 1: goods to your doorsteps. And they happen to work for

1327
01:03:39,680 --> 01:03:42,720
Speaker 1: a company that has been posting record breaking profits. Thanks

1328
01:03:42,720 --> 01:03:46,000
Speaker 1: to this new reality, UPS and their Wall Street owners,

1329
01:03:46,080 --> 01:03:48,960
Speaker 1: Vanguard Capital in Black Rock, they have been making money by.

1330
01:03:48,840 --> 01:03:50,560
Speaker 5: The billions in recent years.

1331
01:03:50,840 --> 01:03:53,320
Speaker 1: They brought in a record hall of thirteen point one

1332
01:03:53,400 --> 01:03:56,640
Speaker 1: billion in twenty twenty one, only to make even more

1333
01:03:56,720 --> 01:03:59,880
Speaker 1: money in twenty twenty two. But have the workers shared

1334
01:04:00,120 --> 01:04:03,560
Speaker 1: this stunning prosperity. Of course they haven't. Instead, the company

1335
01:04:03,560 --> 01:04:06,320
Speaker 1: has nickel and dimed them, denying them hazard pay during

1336
01:04:06,320 --> 01:04:10,040
Speaker 1: the pandemic, forcing them to work overtime squeezing part time

1337
01:04:10,080 --> 01:04:13,000
Speaker 1: workers like crazy, and to add insult to injury, the

1338
01:04:13,080 --> 01:04:17,000
Speaker 1: company refused to install air conditioning in their trucks, even

1339
01:04:17,040 --> 01:04:20,280
Speaker 1: as their workers suffered heat strokes from extreme temperatures and

1340
01:04:20,320 --> 01:04:24,560
Speaker 1: in some instances even died somehow however, UPS did find

1341
01:04:24,600 --> 01:04:27,560
Speaker 1: the money to install driver facing surveillance cameras to track

1342
01:04:27,600 --> 01:04:29,240
Speaker 1: their workers every move as.

1343
01:04:29,080 --> 01:04:30,040
Speaker 5: If they were criminals.

1344
01:04:30,520 --> 01:04:33,040
Speaker 1: Now, the roots of UPS worker discontent actually go back

1345
01:04:33,080 --> 01:04:35,760
Speaker 1: for years, as they have watched their middle class profession

1346
01:04:35,800 --> 01:04:39,760
Speaker 1: eroded into precarity by greedy bosses and unaccountable union leadership

1347
01:04:39,920 --> 01:04:43,360
Speaker 1: during a neoliberal era that saw union density collapse. As

1348
01:04:43,480 --> 01:04:46,760
Speaker 1: UPS package car driver Sean Or and Elliot Lewis write

1349
01:04:46,800 --> 01:04:49,920
Speaker 1: for Labor Notes quote, UPS jobs were once considered a

1350
01:04:50,000 --> 01:04:53,520
Speaker 1: yardstick of secure union jobs. Now sixty percent of the

1351
01:04:53,560 --> 01:04:56,880
Speaker 1: workforce is part time, making around the minimum wage in

1352
01:04:56,960 --> 01:04:59,959
Speaker 1: many regions. Drivers in many locations are forced to work

1353
01:05:00,080 --> 01:05:01,920
Speaker 1: six days a week and up to fourteen hours a

1354
01:05:02,000 --> 01:05:07,160
Speaker 1: day with forced overtime. Managers follow drivers in personal vehicles

1355
01:05:07,200 --> 01:05:10,760
Speaker 1: and relentlessly harassed workers to scare us into working faster.

1356
01:05:11,600 --> 01:05:14,240
Speaker 1: Many rank and file union members were outraged during the

1357
01:05:14,400 --> 01:05:17,880
Speaker 1: last contract negotiation when a concessionary contract that they had

1358
01:05:18,000 --> 01:05:22,360
Speaker 1: actually voted down was nonetheless forced upon them. Among other issues,

1359
01:05:22,360 --> 01:05:25,120
Speaker 1: that contract created a two tier system, a common tactic

1360
01:05:25,200 --> 01:05:27,760
Speaker 1: deployed by companies and agreed to by union bosses who

1361
01:05:27,760 --> 01:05:30,400
Speaker 1: were too cozy with the boss class, which allows new

1362
01:05:30,440 --> 01:05:32,720
Speaker 1: workers to be paid less and seeks to break the

1363
01:05:32,800 --> 01:05:36,320
Speaker 1: union's greatest strength, that would be solidarity. Now, this time around,

1364
01:05:36,320 --> 01:05:39,440
Speaker 1: workers just elected a new reformist union president, Sean O'Brien,

1365
01:05:39,560 --> 01:05:42,600
Speaker 1: who ran explicitly on taking a tough stance with UPS

1366
01:05:42,640 --> 01:05:45,800
Speaker 1: and striking if necessary. And with a tight labor market,

1367
01:05:45,920 --> 01:05:48,040
Speaker 1: the workers go into the negotiations with quite a bit

1368
01:05:48,080 --> 01:05:50,760
Speaker 1: of leverage. UPS and their Wall Street owners would be

1369
01:05:50,800 --> 01:05:53,040
Speaker 1: hammered by a strike, and at the moment, for many

1370
01:05:53,040 --> 01:05:55,560
Speaker 1: of their workers, the company actually needs them more than

1371
01:05:55,600 --> 01:05:59,040
Speaker 1: they need the company. The UPS teams to contract literally

1372
01:05:59,080 --> 01:06:02,240
Speaker 1: the largest private union contract in the entire country that

1373
01:06:02,360 --> 01:06:04,920
Speaker 1: is set to expire at the end of July. A

1374
01:06:05,040 --> 01:06:08,080
Speaker 1: yes vote on the strike or authorization, which is expected,

1375
01:06:08,200 --> 01:06:11,040
Speaker 1: would make it very likely that if that period passes

1376
01:06:11,200 --> 01:06:15,880
Speaker 1: with no contract, UPS package delivery will grind to a halt. Now,

1377
01:06:15,920 --> 01:06:18,200
Speaker 1: the mainstream process is starting to cover the negotiations and

1378
01:06:18,240 --> 01:06:20,440
Speaker 1: their framing should serve as a reminder of what these

1379
01:06:20,480 --> 01:06:23,440
Speaker 1: workers are actually up against. You'll recall that during the

1380
01:06:23,600 --> 01:06:27,360
Speaker 1: rail worker negotiation, corporate press articles routinely took the side

1381
01:06:27,360 --> 01:06:30,120
Speaker 1: of capital. The framing of nearly every article asserted that

1382
01:06:30,160 --> 01:06:34,800
Speaker 1: workers were risking economic calamity, rather than explaining how corporations

1383
01:06:34,880 --> 01:06:37,800
Speaker 1: were willing to risk a catastrophe in service of their

1384
01:06:37,800 --> 01:06:40,680
Speaker 1: greed and desire to prevent their workers from having basic

1385
01:06:40,800 --> 01:06:44,360
Speaker 1: rights like paid sick days. Here is CNN's coverage of

1386
01:06:44,400 --> 01:06:47,960
Speaker 1: the looming UPS strike with very similar framing. Their headline quote,

1387
01:06:48,840 --> 01:06:51,960
Speaker 1: a massive UPS strike could devastate the economy could be

1388
01:06:52,040 --> 01:06:54,920
Speaker 1: just eight weeks away. N lead with how workers have

1389
01:06:54,920 --> 01:06:57,600
Speaker 1: been screwed while UPS makes money hand over fist. Actually,

1390
01:06:57,600 --> 01:06:59,400
Speaker 1: they don't quote a single worker in the entire piece.

1391
01:06:59,680 --> 01:07:02,600
Speaker 1: They start their piece by lamenting the plight of retailers.

1392
01:07:02,760 --> 01:07:04,840
Speaker 1: The strike, if it happens, couldn't come at a worse time,

1393
01:07:04,880 --> 01:07:07,080
Speaker 1: they say, for retailers stocking up for back to school

1394
01:07:07,080 --> 01:07:09,560
Speaker 1: shopping season and preparing for the end of year holidays.

1395
01:07:10,000 --> 01:07:12,000
Speaker 1: You can bet there will be many more articles like this,

1396
01:07:12,160 --> 01:07:14,240
Speaker 1: and many that are even far worse, all designed to

1397
01:07:14,280 --> 01:07:16,960
Speaker 1: undercut the leverage workers have in the negotiation and to

1398
01:07:17,080 --> 01:07:19,800
Speaker 1: marshall public opinion on the side of UPS and their

1399
01:07:19,840 --> 01:07:20,760
Speaker 1: Wall Street owners.

1400
01:07:21,200 --> 01:07:22,800
Speaker 5: Don't forget the basic facts.

1401
01:07:23,280 --> 01:07:26,560
Speaker 1: UPS has made billions off the backs of these workers.

1402
01:07:26,840 --> 01:07:29,960
Speaker 1: They can afford easily to treat them with humanity, and

1403
01:07:29,960 --> 01:07:31,720
Speaker 1: it shouldn't even take the threat of a strike to

1404
01:07:31,760 --> 01:07:33,560
Speaker 1: achieve this basic level of fairness.

1405
01:07:33,880 --> 01:07:35,280
Speaker 5: We're going to be following this one.

1406
01:07:35,160 --> 01:07:38,240
Speaker 1: Really closely because the stakes are extremely high. They're high

1407
01:07:38,240 --> 01:07:39,840
Speaker 1: for these workers, of course, who are trying to earn

1408
01:07:39,880 --> 01:07:42,240
Speaker 1: a decent living without falling out from heat stroke in

1409
01:07:42,240 --> 01:07:44,360
Speaker 1: the middle of their shift. They are high for an

1410
01:07:44,360 --> 01:07:48,080
Speaker 1: economy which is fragile and just overcoming supply chain issues already,

1411
01:07:48,440 --> 01:07:50,800
Speaker 1: and the stakes are very high for all workers and

1412
01:07:50,840 --> 01:07:53,840
Speaker 1: the labor movement written large because the only reason these

1413
01:07:53,880 --> 01:07:55,800
Speaker 1: workers are in a position to push for war at

1414
01:07:55,840 --> 01:07:59,200
Speaker 1: all is their union, and if they succeed, it shows

1415
01:07:59,240 --> 01:08:02,200
Speaker 1: the power of organizing. When unions were at their height,

1416
01:08:02,200 --> 01:08:04,120
Speaker 1: they didn't just lift wages for their members, but for

1417
01:08:04,200 --> 01:08:07,080
Speaker 1: all workers, because even non union shops had to compete

1418
01:08:07,120 --> 01:08:09,880
Speaker 1: with them on wages and on benefits. Right now, there's

1419
01:08:10,120 --> 01:08:12,440
Speaker 1: lots of jobs, which keeps the labor market tight, but

1420
01:08:12,600 --> 01:08:14,760
Speaker 1: far too many are low paying jobs that are not

1421
01:08:14,840 --> 01:08:17,840
Speaker 1: even coming close to keeping up with inflation. This fight

1422
01:08:18,040 --> 01:08:21,400
Speaker 1: could point the way back to a healthy middle class.

1423
01:08:21,640 --> 01:08:22,599
Speaker 1: And this one is hanging out.

1424
01:08:22,600 --> 01:08:25,320
Speaker 2: And if you want to hear my reaction to Crystal's monologue,

1425
01:08:25,320 --> 01:08:31,160
Speaker 2: become a premium subscriber today at Breakingpoints dot Com.

1426
01:08:31,200 --> 01:08:32,360
Speaker 5: All Right, Sager, what are you looking at?

1427
01:08:32,479 --> 01:08:32,719
Speaker 6: Well?

1428
01:08:32,760 --> 01:08:35,479
Speaker 2: I've said it here many times before the most interesting

1429
01:08:35,520 --> 01:08:37,800
Speaker 2: part of the Epstein story had very little to do

1430
01:08:37,880 --> 01:08:40,599
Speaker 2: with him, or even with the paltry charges brought against

1431
01:08:40,600 --> 01:08:43,840
Speaker 2: his partner, Gallaine Maxwell. In many cases, it didn't even

1432
01:08:43,880 --> 01:08:46,280
Speaker 2: really have to do with his intimate relationships with high

1433
01:08:46,360 --> 01:08:49,599
Speaker 2: level billionaires like Bill Gates and Leon Black. It always

1434
01:08:49,600 --> 01:08:51,920
Speaker 2: had to do with two things. Who's he working for

1435
01:08:52,200 --> 01:08:54,479
Speaker 2: and who is he working with? The four part is

1436
01:08:54,520 --> 01:08:56,599
Speaker 2: one that we still don't know. Although there are many

1437
01:08:56,600 --> 01:09:00,360
Speaker 2: suspicions around his connections to Israeli or US intelligence, who

1438
01:09:00,400 --> 01:09:02,920
Speaker 2: he was working for with question is one where there

1439
01:09:02,960 --> 01:09:06,320
Speaker 2: seemed at least a small chance of potentially learning the truth.

1440
01:09:06,680 --> 01:09:10,120
Speaker 2: The most insight came into this question, largely from court

1441
01:09:10,200 --> 01:09:14,000
Speaker 2: documents and financial records relating to Epstein's financial dealings with

1442
01:09:14,120 --> 01:09:17,120
Speaker 2: two major US banks, How did he get all this

1443
01:09:17,200 --> 01:09:19,479
Speaker 2: money in the first place, and then also what was

1444
01:09:19,520 --> 01:09:21,920
Speaker 2: he using it for? We're getting a small glimpse into

1445
01:09:21,960 --> 01:09:24,280
Speaker 2: just how much was at stake with the latest news

1446
01:09:24,320 --> 01:09:27,160
Speaker 2: the JP Morgan has decided to pay nearly three hundred

1447
01:09:27,400 --> 01:09:31,679
Speaker 2: million dollars to settle Epstein accusers lawsuit against the largest

1448
01:09:31,720 --> 01:09:33,439
Speaker 2: bank in the US and one of the largest in

1449
01:09:33,520 --> 01:09:37,200
Speaker 2: the world. The details of the settlement are stunning. JP

1450
01:09:37,320 --> 01:09:39,639
Speaker 2: Morgan agreed to pay the historic sum for a sex

1451
01:09:39,680 --> 01:09:43,759
Speaker 2: assault case hours after a federal judge ruled that dozens

1452
01:09:43,800 --> 01:09:47,360
Speaker 2: of women abused by Epstein all had standing to join

1453
01:09:47,400 --> 01:09:50,320
Speaker 2: the lawsuit against JP Morgan. That ruling could have opened

1454
01:09:50,400 --> 01:09:53,360
Speaker 2: up JP Morgan to even more discovery evidence that has

1455
01:09:53,479 --> 01:09:56,600
Speaker 2: already been released about the relationship to Epstein, and it

1456
01:09:56,680 --> 01:09:59,519
Speaker 2: reveals just how deeply and mesh the bank was in

1457
01:09:59,560 --> 01:10:04,160
Speaker 2: his financi machinations, even after he became a convicted sex offender. Already,

1458
01:10:04,240 --> 01:10:07,839
Speaker 2: court documents show that JP Morgan was aware of shady

1459
01:10:07,880 --> 01:10:12,320
Speaker 2: stuff going on with Epstein, including compliance officers who said, quote,

1460
01:10:12,360 --> 01:10:15,760
Speaker 2: there's lots of smoke, lots of questions about Epstein, and

1461
01:10:15,800 --> 01:10:18,400
Speaker 2: another which referred to him as a quote sugar Daddy.

1462
01:10:18,800 --> 01:10:21,599
Speaker 2: Documents released so far also showed that the bank was

1463
01:10:21,640 --> 01:10:24,560
Speaker 2: fully aware of was a convicted sex offender and continued

1464
01:10:24,560 --> 01:10:27,080
Speaker 2: to do business with him. One of the most damning

1465
01:10:27,160 --> 01:10:30,280
Speaker 2: revelations was that the current head of JP Morgan's four

1466
01:10:30,439 --> 01:10:34,640
Speaker 2: trillion dollar asset and wealth management business visited Epstein properties

1467
01:10:34,640 --> 01:10:37,679
Speaker 2: in the past and was aware of problems around him

1468
01:10:37,720 --> 01:10:42,120
Speaker 2: in multiple meetings. Furthermore, internal documents show that lower level

1469
01:10:42,120 --> 01:10:46,640
Speaker 2: employees filed multiple suspicious activity reports on Epstein.

1470
01:10:46,439 --> 01:10:47,240
Speaker 3: That were ignored.

1471
01:10:48,040 --> 01:10:52,559
Speaker 2: The number of employees flagging suspicious activities numbers quote nearly

1472
01:10:52,680 --> 01:10:56,640
Speaker 2: four dozen, showing just how pervasive knowledge within the bank was.

1473
01:10:57,040 --> 01:10:59,120
Speaker 2: One of the real tells within the revelations was the

1474
01:10:59,160 --> 01:11:02,880
Speaker 2: two senior execsctives at the bank advocating for keeping Epstein's

1475
01:11:02,920 --> 01:11:06,479
Speaker 2: business despite his sex offender guilty plea because Epstein was

1476
01:11:06,520 --> 01:11:09,640
Speaker 2: seen as a conduit to other super rich clients that

1477
01:11:09,720 --> 01:11:13,400
Speaker 2: he could bring in. It's also no coincidence the settlement

1478
01:11:13,479 --> 01:11:17,280
Speaker 2: comes just two weeks after Jamie Diamond himself sat for

1479
01:11:17,439 --> 01:11:21,080
Speaker 2: seven hours of testimony over Epstein. All of this is

1480
01:11:21,160 --> 01:11:23,840
Speaker 2: even more twisted by the fact that JP Morgan is

1481
01:11:23,880 --> 01:11:27,960
Speaker 2: actually suing one of its own former employees, James Staley,

1482
01:11:28,000 --> 01:11:30,879
Speaker 2: who was for a time the CEO of Barclays, another

1483
01:11:31,000 --> 01:11:34,400
Speaker 2: massive financial institution. JP Morgan said that if the bank

1484
01:11:34,479 --> 01:11:36,839
Speaker 2: does have to pay, it should be Staley who pays,

1485
01:11:37,080 --> 01:11:39,639
Speaker 2: even though he doesn't even work there anymore. They alleged

1486
01:11:39,680 --> 01:11:42,320
Speaker 2: that he concealed all of the worst Epstein behavior from

1487
01:11:42,360 --> 01:11:45,920
Speaker 2: the bank and the compliance office will this doesn't exactly

1488
01:11:45,920 --> 01:11:49,400
Speaker 2: pass scrutiny. It's likely Staley is the fall guy. He was, though,

1489
01:11:49,439 --> 01:11:53,360
Speaker 2: caught exchanging very gross emails objectifying young women with Epstein.

1490
01:11:53,640 --> 01:11:56,559
Speaker 2: The email in question showed him emailing Epstein after visiting

1491
01:11:56,560 --> 01:11:59,880
Speaker 2: his private island, saying quote that was fun say hi

1492
01:11:59,880 --> 01:12:03,080
Speaker 2: to snow White. I'll let you decide how to interpret

1493
01:12:03,080 --> 01:12:06,160
Speaker 2: that one. The maddening part with this entire case, after

1494
01:12:06,240 --> 01:12:08,720
Speaker 2: covering it for four years, is that each one of

1495
01:12:08,760 --> 01:12:11,600
Speaker 2: these stories is another piece of the puzzle. One of

1496
01:12:11,600 --> 01:12:14,600
Speaker 2: the first clues into how vast the conspiracy was was

1497
01:12:14,600 --> 01:12:17,599
Speaker 2: the early twenty twenty Deutsche Bank fine by New York

1498
01:12:17,640 --> 01:12:20,559
Speaker 2: state authorities that, in a recent settlement by the bank

1499
01:12:20,800 --> 01:12:24,479
Speaker 2: showed that the victims showed a shame culpability a bank

1500
01:12:24,520 --> 01:12:28,000
Speaker 2: that knew he was a convicted sex offender and knew

1501
01:12:28,040 --> 01:12:31,280
Speaker 2: he was tripping all sorts of crazy compliance trip wires

1502
01:12:31,520 --> 01:12:33,440
Speaker 2: and continued to do business.

1503
01:12:33,720 --> 01:12:35,240
Speaker 3: So where do we.

1504
01:12:35,160 --> 01:12:38,320
Speaker 2: Even go from here? It's a good question. Maxwell's behind bars.

1505
01:12:38,600 --> 01:12:40,920
Speaker 2: No client list ever really came out. We get some

1506
01:12:41,040 --> 01:12:43,599
Speaker 2: dribble and dribble here and then a high level meeting

1507
01:12:43,640 --> 01:12:46,760
Speaker 2: with people like Bill Gates or Nom Chomski, but let's

1508
01:12:46,760 --> 01:12:50,080
Speaker 2: be honest, it never really goes anywhere. This JP Morgan

1509
01:12:50,160 --> 01:12:53,479
Speaker 2: lawsuit was a real opportunity to get things out there,

1510
01:12:53,520 --> 01:12:55,880
Speaker 2: so that it's no surprise that they're paying more than

1511
01:12:55,920 --> 01:12:58,559
Speaker 2: a quarter billion to keep it quiet. The next and

1512
01:12:58,600 --> 01:13:01,439
Speaker 2: perhaps only hope is the ongoing lawsuit between the US

1513
01:13:01,520 --> 01:13:05,360
Speaker 2: Virgin Islands and JP Morgan, which remains active. JP Morgan

1514
01:13:05,479 --> 01:13:08,000
Speaker 2: is fighting this case harder because it alleges that the

1515
01:13:08,080 --> 01:13:11,120
Speaker 2: US Virgin Islands, where many of these sex crimes took place,

1516
01:13:11,240 --> 01:13:14,679
Speaker 2: are actually the ones responsible because of their possible cozy

1517
01:13:14,720 --> 01:13:18,680
Speaker 2: relationship with Epstein by past government officials. Virgin Islands, on

1518
01:13:18,720 --> 01:13:21,360
Speaker 2: the other hand, they say JP Morgan is the financial

1519
01:13:21,479 --> 01:13:24,759
Speaker 2: nexus of Epstein's abuse empire and was the main conduit

1520
01:13:24,760 --> 01:13:26,760
Speaker 2: for much of the money that changed hands, which he

1521
01:13:26,880 --> 01:13:29,759
Speaker 2: used to fly women around and to himself to abuse

1522
01:13:29,800 --> 01:13:31,920
Speaker 2: and to then be abused by others who visited him.

1523
01:13:32,280 --> 01:13:34,840
Speaker 2: We'll see if either of them even make it to trial.

1524
01:13:35,040 --> 01:13:37,800
Speaker 2: We get even more information, but sadly it does feel

1525
01:13:37,840 --> 01:13:40,639
Speaker 2: like things could be winding down there too. The more

1526
01:13:40,720 --> 01:13:43,599
Speaker 2: that they settle, and the bigger the dollar amounts, the

1527
01:13:43,600 --> 01:13:46,920
Speaker 2: more of an admission, how explosive the truth is, and

1528
01:13:46,960 --> 01:13:49,639
Speaker 2: it shows us why we should keep pushing Somewhere on

1529
01:13:49,680 --> 01:13:53,160
Speaker 2: somewhere server somewhere, there is a lot of damning evidence

1530
01:13:53,320 --> 01:13:53,960
Speaker 2: for a lot.

1531
01:13:53,760 --> 01:13:56,040
Speaker 3: Of very rich and powerful people. All of us know

1532
01:13:56,160 --> 01:13:56,679
Speaker 3: it's true.

1533
01:13:56,760 --> 01:13:59,439
Speaker 2: We just need the confirmation and to not stop until

1534
01:13:59,479 --> 01:14:01,639
Speaker 2: any of it actually comes out for good.

1535
01:14:01,840 --> 01:14:03,560
Speaker 1: So there you go, Crystal, and if you want to

1536
01:14:03,600 --> 01:14:07,200
Speaker 1: hear my reaction to Sager's monologue, become a premium subscriber

1537
01:14:07,240 --> 01:14:13,080
Speaker 1: today at Breakingpoints dot Com. Very excited to be joined

1538
01:14:13,080 --> 01:14:16,160
Speaker 1: by actor James Vanderbeek. He is of Dawson's Creek fame,

1539
01:14:16,200 --> 01:14:18,439
Speaker 1: but has done a lot besides that. So great to

1540
01:14:18,439 --> 01:14:19,679
Speaker 1: have you, James, Welcome to the program.

1541
01:14:19,720 --> 01:14:22,200
Speaker 4: Good just you, thank you, thanks for having me.

1542
01:14:22,439 --> 01:14:24,519
Speaker 1: Yeah, of course, so you came to our attention because

1543
01:14:24,560 --> 01:14:27,120
Speaker 1: you decided to speak out about something we've been talking about,

1544
01:14:27,160 --> 01:14:30,799
Speaker 1: which is the Democratic Party's refusal to host any primary debates.

1545
01:14:31,240 --> 01:14:33,000
Speaker 1: This in spite of the fact that you have majority

1546
01:14:33,040 --> 01:14:35,280
Speaker 1: of Democrats who say they would love to have those debates,

1547
01:14:35,320 --> 01:14:38,360
Speaker 1: who are interested in evaluating what alternatives are out there.

1548
01:14:38,400 --> 01:14:41,040
Speaker 1: So what made you feel compelled to speak out on

1549
01:14:41,080 --> 01:14:41,760
Speaker 1: this issue?

1550
01:14:41,920 --> 01:14:45,840
Speaker 4: You know, I rarely speak out on anything political on

1551
01:14:45,880 --> 01:14:49,400
Speaker 4: my Instagram pages, mostly like thoughts on parenting and homestead

1552
01:14:49,400 --> 01:14:51,719
Speaker 4: adventures and this my smartest sense of humor.

1553
01:14:52,120 --> 01:14:54,840
Speaker 7: But it was Memorial Day, and you know, I.

1554
01:14:54,800 --> 01:14:57,680
Speaker 4: Do tend to be pretty heartfelt on my platform, and

1555
01:14:57,760 --> 01:14:59,400
Speaker 4: I was just trying to think of what I could

1556
01:14:59,479 --> 01:15:02,160
Speaker 4: say too thank the families who have made that sacrifice.

1557
01:15:02,360 --> 01:15:06,280
Speaker 4: And I just was so pissed off by the fact

1558
01:15:06,280 --> 01:15:11,439
Speaker 4: that the DNC was willfully and arrogantly ignoring the will

1559
01:15:11,600 --> 01:15:13,880
Speaker 4: of the people and their people, you know, the people

1560
01:15:13,880 --> 01:15:16,559
Speaker 4: who voted for their guy last time. And so I

1561
01:15:16,640 --> 01:15:18,760
Speaker 4: just thought, man, the best thing I could do to

1562
01:15:18,800 --> 01:15:21,880
Speaker 4: thank the troops would be to speak out about the

1563
01:15:21,920 --> 01:15:26,080
Speaker 4: fact that they're deciding unilaterally to not hold a debate.

1564
01:15:27,880 --> 01:15:29,760
Speaker 7: I just I just think it's ridiculous.

1565
01:15:30,080 --> 01:15:32,360
Speaker 2: Yeah, you know, James, I know that we talked a

1566
01:15:32,360 --> 01:15:33,960
Speaker 2: little bit about it. Just put this up there on

1567
01:15:34,000 --> 01:15:36,479
Speaker 2: the screen. The media, you know, kind of took this

1568
01:15:36,560 --> 01:15:38,839
Speaker 2: and almost ran it as some sort of right wing reaction.

1569
01:15:38,920 --> 01:15:42,000
Speaker 2: They were like, he becomes Fox News' favorite actor. I

1570
01:15:42,080 --> 01:15:45,960
Speaker 2: know that that wasn't what you intended at all. Yeah, well,

1571
01:15:46,240 --> 01:15:47,960
Speaker 2: that's part of the reason we wanted to talk is

1572
01:15:48,080 --> 01:15:49,160
Speaker 2: I know that's not what you think.

1573
01:15:49,240 --> 01:15:49,479
Speaker 3: Give it.

1574
01:15:49,520 --> 01:15:52,559
Speaker 2: Give us your reaction to that. And you know why

1575
01:15:52,560 --> 01:15:55,040
Speaker 2: they're casting you is right wing for wanting a debate.

1576
01:15:55,080 --> 01:15:56,799
Speaker 2: That's not really your intention at all.

1577
01:15:57,439 --> 01:15:58,240
Speaker 7: Not at all.

1578
01:15:58,280 --> 01:16:00,360
Speaker 4: And if they've gone through, you know, years of my

1579
01:16:00,439 --> 01:16:02,400
Speaker 4: Instagram feed, they would find a lot of things they

1580
01:16:02,439 --> 01:16:03,920
Speaker 4: disagree with over at Fox News.

1581
01:16:04,840 --> 01:16:06,240
Speaker 7: Yeah, to become a Fox News.

1582
01:16:06,120 --> 01:16:09,040
Speaker 4: Darling overnight over simply saying that we should have a debate,

1583
01:16:09,040 --> 01:16:11,559
Speaker 4: I mean clearly they're using it for their purposes, which is,

1584
01:16:11,600 --> 01:16:13,080
Speaker 4: you know, to make Biden look bad, to make the

1585
01:16:13,120 --> 01:16:16,959
Speaker 4: Democrats look crazy. But I mean, in fairness, the Democrats

1586
01:16:17,000 --> 01:16:19,439
Speaker 4: do look crazy. The DNC does look crazy right now

1587
01:16:19,479 --> 01:16:24,000
Speaker 4: for not for not listening, uh, you know, to to

1588
01:16:24,040 --> 01:16:24,880
Speaker 4: their voter base.

1589
01:16:25,400 --> 01:16:27,200
Speaker 7: I just and listen.

1590
01:16:26,920 --> 01:16:28,920
Speaker 4: I've just been pointed out that there's been a there's

1591
01:16:28,960 --> 01:16:31,439
Speaker 4: a precedent for not having a debate. Obama didn't debate.

1592
01:16:31,479 --> 01:16:34,720
Speaker 4: A lot of incumbents don't debate challengers. But I think

1593
01:16:34,720 --> 01:16:38,559
Speaker 4: that's a terrible precedent. And I really it was not

1594
01:16:39,000 --> 01:16:41,800
Speaker 4: in any way an anti anybody ran.

1595
01:16:42,200 --> 01:16:45,960
Speaker 7: It's a pro democratic process rant. And that's what I

1596
01:16:45,960 --> 01:16:47,600
Speaker 7: feel like we're we're being robbed of.

1597
01:16:47,720 --> 01:16:50,360
Speaker 4: I mean, you know, if some of some of the

1598
01:16:50,400 --> 01:16:53,000
Speaker 4: responses were really strange, there are a lot of people

1599
01:16:53,000 --> 01:16:57,360
Speaker 4: who are just so in fear of who the perhaps

1600
01:16:57,360 --> 01:17:01,320
Speaker 4: inevitable Republican nominee is going to be that there seems

1601
01:17:01,360 --> 01:17:04,840
Speaker 4: to be this theory that everybody should just go easy

1602
01:17:04,880 --> 01:17:07,800
Speaker 4: on Biden. Yeah, let him, just put him up there

1603
01:17:07,840 --> 01:17:09,200
Speaker 4: and just by virtu of the fact that he's not

1604
01:17:09,240 --> 01:17:12,280
Speaker 4: the other guy that everybody then he'll win and everything

1605
01:17:12,320 --> 01:17:15,680
Speaker 4: will be okay. And I just think that's a terrible strategy,

1606
01:17:15,720 --> 01:17:18,640
Speaker 4: and I think the country really deserves better. And so,

1607
01:17:19,040 --> 01:17:22,320
Speaker 4: you know, if a debate where you stand up for

1608
01:17:22,600 --> 01:17:25,680
Speaker 4: your record and you hear ideas from within your own

1609
01:17:25,800 --> 01:17:28,400
Speaker 4: party and you talk about where we are and where

1610
01:17:28,400 --> 01:17:29,880
Speaker 4: you're going to take us in the future, if that's

1611
01:17:29,920 --> 01:17:33,839
Speaker 4: going to hurt your candidate, is that really the candidate

1612
01:17:33,840 --> 01:17:34,400
Speaker 4: you want to run.

1613
01:17:35,200 --> 01:17:39,880
Speaker 1: Yeah, it really betrays an actual lack of faith in

1614
01:17:39,960 --> 01:17:43,400
Speaker 1: the American people, an actual lack of faith in democracy.

1615
01:17:43,920 --> 01:17:45,760
Speaker 1: And that's from a party that has spent a lot

1616
01:17:45,800 --> 01:17:48,680
Speaker 1: of time talking about how important the values of democracy

1617
01:17:48,720 --> 01:17:51,000
Speaker 1: are and how you know, democracy is on the ballot

1618
01:17:51,040 --> 01:17:53,280
Speaker 1: and they're going to be the defenders of democracy. So

1619
01:17:53,320 --> 01:17:55,400
Speaker 1: I think it's really well said that they point all

1620
01:17:55,439 --> 01:17:57,879
Speaker 1: the time to, well, you know, there's this historical precedent

1621
01:17:57,920 --> 01:18:00,000
Speaker 1: where you know, Biden's just going to follow the historical present,

1622
01:18:00,040 --> 01:18:02,559
Speaker 1: and it's like, because you did something bad and anti

1623
01:18:02,560 --> 01:18:05,479
Speaker 1: democratic in the past, doesn't mean that we should continue

1624
01:18:05,520 --> 01:18:08,760
Speaker 1: along that trajectory. On the other hand, with regard to

1625
01:18:09,120 --> 01:18:12,240
Speaker 1: Fox News adoption of this, they're pretty silent on the

1626
01:18:12,240 --> 01:18:15,240
Speaker 1: fact that Trump has also said that he's not particularly

1627
01:18:15,240 --> 01:18:18,679
Speaker 1: he hasn't committed himself to debates either, And so James,

1628
01:18:18,720 --> 01:18:21,000
Speaker 1: to your point about you know, speaking out and trying

1629
01:18:21,000 --> 01:18:23,400
Speaker 1: to honor the troops, it just seems like we're in

1630
01:18:23,400 --> 01:18:27,920
Speaker 1: this really depressing situation where you've got two guys that

1631
01:18:28,080 --> 01:18:30,840
Speaker 1: the overwhelming majority of the country is like, we really

1632
01:18:30,920 --> 01:18:33,320
Speaker 1: don't want either one of these dudes, Like we really

1633
01:18:33,360 --> 01:18:36,560
Speaker 1: would like to have a whole variety of other options,

1634
01:18:37,120 --> 01:18:40,479
Speaker 1: and I think it shows a true decay of our

1635
01:18:40,520 --> 01:18:44,360
Speaker 1: democracy that there are basically that we're basically locked into

1636
01:18:44,400 --> 01:18:46,400
Speaker 1: this Trump versus Biden situation.

1637
01:18:46,520 --> 01:18:47,160
Speaker 5: Come to the fall.

1638
01:18:48,080 --> 01:18:50,519
Speaker 7: Yeah, I think Trump should debate. I think everybody should.

1639
01:18:50,600 --> 01:18:54,439
Speaker 4: I think we probably pass something and guarantees us a

1640
01:18:54,439 --> 01:18:57,720
Speaker 4: primary debate. I agree, no matter what, because without that

1641
01:18:57,800 --> 01:19:01,400
Speaker 4: then people are they're also you know, designing the debate

1642
01:19:01,479 --> 01:19:05,040
Speaker 4: to suit themselves, and it's just ridiculous this, And it's

1643
01:19:05,080 --> 01:19:07,400
Speaker 4: been pointed out, yes, this is not a direct democracy,

1644
01:19:07,520 --> 01:19:10,760
Speaker 4: this is technically a republic. But still, I mean, the

1645
01:19:10,760 --> 01:19:13,920
Speaker 4: will of the people deserves to be deserves to be heard.

1646
01:19:13,960 --> 01:19:16,440
Speaker 4: I mean, and I am optimistic as well. I'm optimistic.

1647
01:19:17,520 --> 01:19:19,720
Speaker 4: I believe in the American people, I really do. I

1648
01:19:19,760 --> 01:19:21,760
Speaker 4: believe in that people, and my neighbors and people I

1649
01:19:21,800 --> 01:19:22,639
Speaker 4: meet at the Harbor Store.

1650
01:19:22,680 --> 01:19:24,200
Speaker 7: I believe in my friends.

1651
01:19:24,240 --> 01:19:27,840
Speaker 4: That you know back in LA that given all the information,

1652
01:19:28,080 --> 01:19:32,920
Speaker 4: given true information, we will all kind of eventually make

1653
01:19:33,040 --> 01:19:37,240
Speaker 4: good decisions. But within that optimism, man, the older I've gotten,

1654
01:19:37,920 --> 01:19:39,840
Speaker 4: the more I've come to see the virtue in seeing

1655
01:19:39,880 --> 01:19:43,960
Speaker 4: things as they are, not as we wish them to be.

1656
01:19:44,200 --> 01:19:46,200
Speaker 4: Not as we just know they could be given the

1657
01:19:46,320 --> 01:19:49,920
Speaker 4: perfect set of circumstances, but actually seeing things as they are.

1658
01:19:49,960 --> 01:19:52,839
Speaker 4: And I've yet to hear an argument that would convince

1659
01:19:52,880 --> 01:19:56,360
Speaker 4: me that a debate would allow us to see less

1660
01:19:56,360 --> 01:19:57,920
Speaker 4: of the truth that we're saying right.

1661
01:19:57,840 --> 01:20:01,240
Speaker 2: Now, that's really wise. You know, James, I'm curious. You

1662
01:20:01,320 --> 01:20:03,840
Speaker 2: know you still work in the business. I mean, have

1663
01:20:03,960 --> 01:20:07,240
Speaker 2: you had any repercussions as a result of this. I mean,

1664
01:20:07,240 --> 01:20:09,720
Speaker 2: to me, it was very courageous for you to come

1665
01:20:09,720 --> 01:20:11,679
Speaker 2: out and say this, and I'm curious to your thoughts

1666
01:20:11,680 --> 01:20:14,120
Speaker 2: as to how to navigate that process for as you

1667
01:20:14,160 --> 01:20:15,559
Speaker 2: reference all your friends in LA.

1668
01:20:16,200 --> 01:20:16,760
Speaker 7: Well, thank you.

1669
01:20:17,640 --> 01:20:23,920
Speaker 4: People say it's courageous, it kind of terrifies me. Yeah,

1670
01:20:24,120 --> 01:20:26,280
Speaker 4: to me, this is a no brainer. This is just

1671
01:20:26,320 --> 01:20:28,519
Speaker 4: to say, hey, I could be wrong. I'm not saying

1672
01:20:28,520 --> 01:20:30,040
Speaker 4: to vote for my guy. I'm not saying the other

1673
01:20:30,080 --> 01:20:32,920
Speaker 4: guy's terrible. I'm not coming out in favor of any

1674
01:20:32,960 --> 01:20:35,920
Speaker 4: candidate or against any candidate. I'm just saying, let's put

1675
01:20:35,920 --> 01:20:38,519
Speaker 4: them on a stage, and instead of making decisions and

1676
01:20:38,520 --> 01:20:41,200
Speaker 4: bringing ideas to some back room somewhere, let's put it

1677
01:20:41,240 --> 01:20:44,759
Speaker 4: in people's living rooms. That's really all that I'm saying,

1678
01:20:45,920 --> 01:20:47,599
Speaker 4: you know, I mean, right now, there's a writer strike,

1679
01:20:47,640 --> 01:20:50,439
Speaker 4: and I'm a writer, so I'm supporting my w.

1680
01:20:50,439 --> 01:20:51,960
Speaker 7: G A, my guilt good.

1681
01:20:52,280 --> 01:20:56,040
Speaker 4: So there's no work happening right now. But I have

1682
01:20:56,120 --> 01:20:58,880
Speaker 4: had a lot of friends on the left reach out

1683
01:20:58,920 --> 01:21:01,559
Speaker 4: to me privately and see, thank you, thank you for

1684
01:21:01,600 --> 01:21:03,040
Speaker 4: seeing what we've all been thinking.

1685
01:21:03,920 --> 01:21:09,080
Speaker 1: So it's this funny dynamic where what you're saying with

1686
01:21:09,320 --> 01:21:13,760
Speaker 1: any normal person in the entire country is wildly uncontroversial, right,

1687
01:21:13,800 --> 01:21:17,799
Speaker 1: I mean among Democrats, it's like eighty percent of Democrats

1688
01:21:17,800 --> 01:21:20,320
Speaker 1: are like, obviously we should have a debate. It's not

1689
01:21:20,600 --> 01:21:24,479
Speaker 1: really a controversial position except among these like small elite

1690
01:21:24,880 --> 01:21:27,360
Speaker 1: media circles. But you mentioned that you felt kind of

1691
01:21:27,439 --> 01:21:30,280
Speaker 1: like terrified by the reaction to it. Were you surprised

1692
01:21:30,320 --> 01:21:34,920
Speaker 1: that your comments went so viral, and has this encouraged

1693
01:21:35,080 --> 01:21:38,920
Speaker 1: or discouraged you from taking future political stances.

1694
01:21:39,800 --> 01:21:42,040
Speaker 4: You know, I was just speaking from the heart. I

1695
01:21:42,120 --> 01:21:44,200
Speaker 4: was pissed off, and I was being honest, and I

1696
01:21:44,240 --> 01:21:46,640
Speaker 4: was speaking from the heart. Had I anticipated that the

1697
01:21:46,720 --> 01:21:49,519
Speaker 4: audio alone would be played on radio, I probably would

1698
01:21:49,560 --> 01:21:51,519
Speaker 4: not have done it. While pulling a weight sled backwards

1699
01:21:51,520 --> 01:21:57,240
Speaker 4: down my driveway, it sounds a little angry and a

1700
01:21:57,280 --> 01:21:58,280
Speaker 4: little more breathless than.

1701
01:22:00,040 --> 01:22:03,439
Speaker 5: Have been optimal, but it added dramatic effect.

1702
01:22:04,439 --> 01:22:06,040
Speaker 7: Yeah, thank you, thank you.

1703
01:22:06,200 --> 01:22:08,760
Speaker 4: I'm really much more interested in in the way I

1704
01:22:08,800 --> 01:22:11,720
Speaker 4: mean as a creative, you know, in the ways in

1705
01:22:11,760 --> 01:22:14,759
Speaker 4: which we're all similar, in the triumphs and the challenges

1706
01:22:14,800 --> 01:22:16,519
Speaker 4: that we go through. It's then as an actress, but

1707
01:22:16,600 --> 01:22:20,719
Speaker 4: then as a writer. But you know, sometimes the truth

1708
01:22:20,760 --> 01:22:22,599
Speaker 4: is just so obvious that it needs to be said.

1709
01:22:22,640 --> 01:22:25,120
Speaker 4: And the reason I spoke out about this was that

1710
01:22:25,400 --> 01:22:27,120
Speaker 4: a lot of friends of mine didn't even know that

1711
01:22:27,160 --> 01:22:30,479
Speaker 4: it was happening. You know, you guys are one of

1712
01:22:30,479 --> 01:22:32,439
Speaker 4: the few people that I've seen report on it, but

1713
01:22:32,479 --> 01:22:35,640
Speaker 4: it never comes up in my regular news feed on

1714
01:22:35,640 --> 01:22:37,479
Speaker 4: my phone. Right, but that there's not a debate, and

1715
01:22:37,520 --> 01:22:40,080
Speaker 4: I don't see any outcry. There won't be a debate,

1716
01:22:40,120 --> 01:22:41,639
Speaker 4: despite the desire for it.

1717
01:22:42,080 --> 01:22:42,519
Speaker 5: Yeah.

1718
01:22:43,120 --> 01:22:45,439
Speaker 1: Finally, James, I did want to ask you about the

1719
01:22:45,520 --> 01:22:48,360
Speaker 1: writer strike. You said, you know you're standing with solidarity

1720
01:22:48,360 --> 01:22:50,479
Speaker 1: with your brothers and sisters. What do you what do

1721
01:22:50,520 --> 01:22:52,600
Speaker 1: you personally see as some of the key issues that

1722
01:22:52,680 --> 01:22:53,679
Speaker 1: need to be resolved there.

1723
01:22:55,400 --> 01:22:57,840
Speaker 4: It's a little bit of insight baseball, but they're really

1724
01:22:58,080 --> 01:22:59,280
Speaker 4: they're really reasonable.

1725
01:22:59,400 --> 01:23:00,880
Speaker 7: I mean writers want to be able to write a

1726
01:23:00,960 --> 01:23:01,599
Speaker 7: multiple shows.

1727
01:23:01,640 --> 01:23:03,719
Speaker 4: Used to be a writer would write on a staff

1728
01:23:04,160 --> 01:23:07,120
Speaker 4: for twenty four episodes in a season, so there really

1729
01:23:07,160 --> 01:23:09,160
Speaker 4: was no time to write for another show. Now episode

1730
01:23:09,160 --> 01:23:12,080
Speaker 4: the shooting eight episode season six episode seasons, so writers

1731
01:23:12,160 --> 01:23:14,000
Speaker 4: need to be able to write a multiple shows throughout

1732
01:23:14,000 --> 01:23:17,840
Speaker 4: the year as long as there's no time. Conflict. AI

1733
01:23:17,960 --> 01:23:19,679
Speaker 4: has also come up in a big way.

1734
01:23:19,920 --> 01:23:22,679
Speaker 7: And so what do you mean by that.

1735
01:23:25,200 --> 01:23:28,080
Speaker 4: Let's see, I'm not really qualified to get into all

1736
01:23:28,400 --> 01:23:31,400
Speaker 4: the nitty gritty, but essentially the writers guild the same

1737
01:23:31,439 --> 01:23:32,000
Speaker 4: to the studios.

1738
01:23:32,040 --> 01:23:33,679
Speaker 7: You can't use AI to write a script and then.

1739
01:23:33,600 --> 01:23:36,280
Speaker 4: Ask us to rewrite it because it rewrite costs way

1740
01:23:36,320 --> 01:23:39,960
Speaker 4: less than an original draft. And just that amount of

1741
01:23:40,000 --> 01:23:42,479
Speaker 4: taking the human out of the creative process I think

1742
01:23:42,600 --> 01:23:46,600
Speaker 4: is going to be devastating for the entertainment industry, devastating

1743
01:23:46,600 --> 01:23:50,000
Speaker 4: for writers. It's something that we really need to win

1744
01:23:50,080 --> 01:23:54,200
Speaker 4: if we want entertainment that reflects humanity and that can

1745
01:23:54,240 --> 01:23:56,840
Speaker 4: reflect the truth and the heart of what people are

1746
01:23:56,880 --> 01:23:59,800
Speaker 4: actually going through. If it's to be a true expression,

1747
01:24:00,120 --> 01:24:02,320
Speaker 4: a human expression that you're going to see reflected on

1748
01:24:02,360 --> 01:24:05,519
Speaker 4: the screen, it's an issue that we really need to

1749
01:24:06,360 --> 01:24:06,760
Speaker 4: get right.

1750
01:24:07,280 --> 01:24:09,559
Speaker 5: Yeah, I could not agree with you more.

1751
01:24:09,720 --> 01:24:12,960
Speaker 1: I mean, you know, these AI models, they're not capable

1752
01:24:13,000 --> 01:24:17,880
Speaker 1: of generating creativity, of creating new products. They're fed all

1753
01:24:17,880 --> 01:24:20,559
Speaker 1: the cultural products of the past. They can recombine them

1754
01:24:20,600 --> 01:24:22,960
Speaker 1: and regurgitate them. But I agree with you that I

1755
01:24:22,960 --> 01:24:25,880
Speaker 1: think it's a real threat to creativity, not to mention,

1756
01:24:25,920 --> 01:24:29,639
Speaker 1: of course, the livelihoods of many people. So James, super

1757
01:24:29,640 --> 01:24:31,840
Speaker 1: grateful for your time. So great to chat with you today.

1758
01:24:31,880 --> 01:24:34,280
Speaker 1: Thank you for speaking out, and you know, thank you

1759
01:24:34,360 --> 01:24:35,679
Speaker 1: for answering our questions.

1760
01:24:35,720 --> 01:24:37,519
Speaker 3: We stand with you, James, and we appreciate you man.

1761
01:24:37,520 --> 01:24:37,840
Speaker 3: Thank you.

1762
01:24:38,040 --> 01:24:39,880
Speaker 7: Oh, thank you guys. Thanks for the work you're doing.

1763
01:24:39,920 --> 01:24:40,720
Speaker 7: I really appreciate you.

1764
01:24:40,920 --> 01:24:42,280
Speaker 5: It's our pleasure. Sure, thank you.

1765
01:24:42,600 --> 01:24:44,640
Speaker 2: All right, thank you guys so much for watching Day two.

1766
01:24:44,720 --> 01:24:48,599
Speaker 2: We're still experimenting changing the angles, all this other stuff

1767
01:24:48,760 --> 01:24:49,200
Speaker 2: going on.

1768
01:24:49,160 --> 01:24:50,040
Speaker 3: Over here, and then I get it.

1769
01:24:50,080 --> 01:24:51,800
Speaker 5: Absolutely we're going to nail it.

1770
01:24:52,080 --> 01:24:52,840
Speaker 3: So just bear with us.

1771
01:24:52,840 --> 01:24:54,439
Speaker 2: We're going to be experimenting over the next couple of

1772
01:24:54,479 --> 01:24:56,719
Speaker 2: weeks of what we feel comfortable, what we think looks

1773
01:24:56,720 --> 01:24:59,920
Speaker 2: the best way, you decide, giving your feedback on all that.

1774
01:25:00,040 --> 01:25:00,479
Speaker 3: We love you.

1775
01:25:00,520 --> 01:25:03,479
Speaker 2: We appreciate counterpoints as tomorrow, and do not forget we'll

1776
01:25:03,479 --> 01:25:06,000
Speaker 2: be interviewing RFK Junior later on today and we will

1777
01:25:06,040 --> 01:25:08,759
Speaker 2: post that interview as soon as it is available. Premium

1778
01:25:08,760 --> 01:25:11,920
Speaker 2: suscribers check your inboxes. Everybody else, just stay tuned on

1779
01:25:11,920 --> 01:25:14,519
Speaker 2: our YouTube feed or on our podcast feed, otherwise we

1780
01:25:14,560 --> 01:25:30,559
Speaker 2: will see you all on Thursday