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Speaker 1: It's titled the Rising Democratic Mega Movement.

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Speaker 2: You write, Democrats needing quote their own version of a

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Speaker 2: populist anti establishment MAGA like makeovers.

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Speaker 3: So what does that look like, Jim.

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Speaker 1: It looks like what you're just talking about with Gavin

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Speaker 1: Newsom right, trying to adopt a lot of the techniques

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Speaker 1: that you saw from Trump, that you've seen from Mega.

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Speaker 1: Get on social media, be a warrior, curse a lot,

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Speaker 1: try to have a lot of edge, and start yourself

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Speaker 1: into the news cycle.

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Speaker 3: I think the bigger part, though.

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Speaker 1: Is what you've seen happening in New York, what you've

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Speaker 1: seen happen in Minneapolis, the popularity of Bernie Sanders, the

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Speaker 1: number of people turning out for AOC events that right

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Speaker 1: now the momentum in the party is very much for

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Speaker 1: the very progressive wing of the Democratic Party, which is

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Speaker 1: not that much of a shock, but I think is

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Speaker 1: probably problematic in the off your elections for Democrats. It's

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Speaker 1: is not where the vast majority of the country seems

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Speaker 1: to be. I think it's one of the reasons that

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Speaker 1: the Democratic brand overall is low, and so that's an

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Speaker 1: important thing to watch. And in terms of your conversation

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Speaker 1: about the backlash, to the bill. To me, this is

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Speaker 1: going to be a really really important conversation three months

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Speaker 1: from now. In three months, we're going to know what's

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Speaker 1: happening with three districting.

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Speaker 3: If Republicans can.

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Speaker 1: Really rewire the map in a way where they could

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Speaker 1: pick up anywhere from five to ten seats, that is meaningful,

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Speaker 1: That is deeply, deeply meaningful. It's harder in these democratic

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Speaker 1: states to do it. It's easier in Texas and Republican

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Speaker 1: states to do it. The other is, watch the next month.

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Speaker 1: If inflation does what I think inflation is going to do,

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Speaker 1: it is going to be deeply, deeply problematic for the

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Speaker 1: Republican Party. If you look at what's happening with the

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Speaker 1: stock prices of Chipotle or Sweet Green or any of

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Speaker 1: these restaurants where people take their money when they have

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Speaker 1: a little bit extra and go and spend it, they're

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Speaker 1: all tanking. If you look at what you're hearing from

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Speaker 1: home Depot, your Walmarts and others, they're basically saying, listen,

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Speaker 1: we've absorbed as much of a loss as we can

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Speaker 1: from the tariffs. Come August, we have to start passing

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Speaker 1: that on to consumers. If that happens, If that happens

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Speaker 1: in home goods, if that happens in groceries, if that

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Speaker 1: happens in autos, which I think could be the next

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Speaker 1: piece to fall. That is going to make all of

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Speaker 1: this talk about the bill that much more problematic because

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Speaker 1: you're going to say, wait a second, what Joe was

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Speaker 1: saying was right. They legitimately did get a massive tax cut,

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Speaker 1: especially if you're super wealthy or you're running a big company,

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Speaker 1: and a lot of people who were on Medicaid were

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Speaker 1: requiring these government programs. Yes there's some fraud, but yes,

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Speaker 1: there's a lot of people who are authentically not going

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Speaker 1: to get benefits tomorrow that are getting them today. That's

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Speaker 1: when this becomes much much more than a side show

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Speaker 1: at one specific event. It becomes a deep, deep, systematic

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Speaker 1: problem for the Republican Party.

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Speaker 4: I think for a lot of democracy watchers, this is

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Speaker 4: the nightmare scenario attacking our elections, ringing our elections. It's

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Speaker 4: not just the jerrymandering, it's the attacks on the actual

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Speaker 4: way people vote. What are your thoughts on how vigorously

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Speaker 4: are not vigorously it's being protected?

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Speaker 5: Well, I think it needs to be protected much more vigorously,

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Speaker 5: and I think we need to learn from twenty twenty. Look,

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Speaker 5: none of us can get inside Donald Trump's brain, thank goodness.

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Speaker 5: I'm open to the theory that maybe just Vladimir Putin

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Speaker 5: just has some magic spell over him, and anything Vladimir

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Speaker 5: Putin says he reiterates.

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Speaker 3: I think that could be one theory.

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Speaker 5: But I think that there's another likely reason why he's

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Speaker 5: targeting mail in voting or other types of voting right now.

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Speaker 5: And it's something that we've all lived through. It's something

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Speaker 5: that Stephen lived through most acutely in twenty twenty, which

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Speaker 5: is laying the groundwork for contesting.

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Speaker 3: The election if it goes away he doesn't like.

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Speaker 5: And I think that this is as simple as that

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Speaker 5: we're relooking at stop the steal two point zero. He's

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Speaker 5: starting at early. He started that early, really back in

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Speaker 5: twenty twenty. It's just a lot of us didn't take

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Speaker 5: it that seriously in twenty nineteen. But he's throwing this

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Speaker 5: chum into water now. He's laying the groundwork. And so

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Speaker 5: if hypothetically, I don't know, the Democrats win the House

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Speaker 5: by three or four votes next time in a close election,

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Speaker 5: and there's some close races and states of mail and

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Speaker 5: voting like Arizona or Colorado, or California or Nevada, that

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Speaker 5: he will do what he did in twenty twenty and

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Speaker 5: try to contest the election and prevent those elections from

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Speaker 5: being certified.

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Speaker 3: I think it's pretty clear that that is what.

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Speaker 5: Is at least an option that they're keeping open, and

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Speaker 5: I think that threat to me is the most acute.

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Speaker 5: I think actual protection of the elections is very important too,

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Speaker 5: But I think that post election twenty twenty six times

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Speaker 5: is what we're already seeing kind of a groundhog day preview.

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Speaker 3: Off got a lot of things.

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Speaker 6: Being a NATO member involves a lot of things. But

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Speaker 6: the best thing you get in exchange for being a

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Speaker 6: part of NATO is Article five, the security guarantee that

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Speaker 6: if anybody attacks you, it's like attacking all the other

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Speaker 6: NATO members and you get the benefit from that.

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Speaker 3: NATO has.

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Speaker 6: Actually Ukraine has actually done a lot of NATO wish

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Speaker 6: stuff right since nineteen ninety four, their army has operates

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Speaker 6: more like NATO armies, military areas operate. They've got that interoperability.

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Speaker 6: So tell me about what NATO without being in NATO

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Speaker 6: would look like for Ukraine. The security guarantee that everybody's

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Speaker 6: talking about that doesn't necessarily at the moment involve NATO membership.

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Speaker 3: What does that even look like?

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Speaker 7: Well, some so a step down from NATO membership, which,

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Speaker 7: as you point out, is the gold standard. It's also

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Speaker 7: the cheapest and the most effective security guarantee.

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Speaker 3: That there is.

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Speaker 7: But if that's not on the table for now, don't

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Speaker 7: give up on it.

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Speaker 3: But it's not on the table.

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Speaker 7: For now, then this coalition of the willing but putting

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Speaker 7: troops on the ground with an Article five like commitment.

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Speaker 7: That is this coalition willing, which is led by the

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Speaker 7: French and the Bridge. But it's got like thirty members,

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Speaker 7: thirty nations that are that are there, including now the Americans,

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Speaker 7: would say that NATO says.

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Speaker 3: If you're attacked, we're with you.

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Speaker 7: Where supports you, doesn't say exactly how we're with you,

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Speaker 7: And each of those thirty.

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Speaker 8: Nations will do it a little as it is in NATO.

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Speaker 3: As in the actual article.

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Speaker 1: R about this idea of how easy it would be to.

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Speaker 3: Attack the fact that rich are getting richer.

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Speaker 1: This isn't actually a political argument, it is an empirical argument.

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Speaker 1: There's no doubt that the rich are getting a lot richer,

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Speaker 1: that the poor are not getting that much richer, if

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Speaker 1: getting richer at all, that that tax bill undoubtedly favors.

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Speaker 3: The most wealthy. Then you look at your.

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Speaker 1: Stock market, you say, what's happening, Well, most of the

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Speaker 1: growth in portfolios is coming from your biggest tech companies,

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Speaker 1: the top seven, the fang companies.

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Speaker 3: Well, who are those?

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Speaker 1: That's your Zuckerberg's of the world, right, that's these big,

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Speaker 1: big companies that are already doing well, that are getting

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Speaker 1: massive assistance from the federal government. And the only people

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Speaker 1: who can really invest in a lot of these companies

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Speaker 1: are people who themselves are already rich. Right, if you

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Speaker 1: look at people who have money in four ah one

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Speaker 1: case or in the stock market, tend to start with

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Speaker 1: a lot of money to begin with.

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Speaker 3: So the rich are going to keep getting richer. This

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Speaker 3: is a.

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Speaker 1: Fantastic environment if you have money, there's no doubt about it.

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Speaker 1: And I think that is then it always sits on

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Speaker 1: top of politics, right, people are always.

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Speaker 3: Feeling like, is the system rigg? Is a system fair?

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Speaker 1: And if somebody's paying a lot more for a car,

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Speaker 1: a lot more for oranges, a lot more for eggs,

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Speaker 1: a lot more for stuff at the next trip.

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Speaker 3: To home depot. Yes, bitterness rises.

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Speaker 1: And it's why interesting Gene talks about there are no

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Speaker 1: labels if you really get to see Bannons of the

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Speaker 1: world on true serum.

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Speaker 3: They agree a lot with what.

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Speaker 1: Bernie Sanders will saying about the dangers of AI, about

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Speaker 1: the rich getting richer, about the dangers in that bill

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Speaker 1: going after medicaid. They're not loud about it right now,

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Speaker 1: but make no mistake, when Trump is gone, there's a

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Speaker 1: bigger disconnect there than people realize, because the Bannons of

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Speaker 1: the world, I would say, are tied more tightly to

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Speaker 1: the working class because they understand. That's why Trump exists today.

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Speaker 1: It might not be Trump's worldview.

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Speaker 9: Per se, but it certainly is there to headline Trump's

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Speaker 9: selective stamp on justice, redemption for thumbs, scorn for others.

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Speaker 9: Trump himself a felon, they like to point that out,

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Speaker 9: has shown particularly a particular leniency to criminals. He seems

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Speaker 9: to identify with people who are white or wealthy, or

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Speaker 9: who he believes have been unfairly persecuted who rioted in

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Speaker 9: his name. On January six, also in the article, this

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Speaker 9: quote from him, they would never be an asset to society.

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Speaker 9: He said, I don't care. I know we all want

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Speaker 9: to say, oh, they're going to be rehabbed. They're not

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Speaker 9: going to be rehabbed. That was when he was holding

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Speaker 9: up five month shots of pr people of color. What's

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Speaker 9: the difference there? What do you read from that?

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Speaker 10: This is a president who got his political start by

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Speaker 10: trying to undermine the legitimacy of.

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Speaker 3: The first black president.

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Speaker 10: The racism of this man, in this candidate is baked

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Speaker 10: into everything that he does. One of the things that's

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Speaker 10: sadust for me hearing that quote and comparing it to

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Speaker 10: what happened on January sixth and the subsequent parts, is

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Speaker 10: with January sixth, you had an overwhelmingly white riot against

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Speaker 10: a perhaps majority or near majority minority police force. I

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Speaker 10: talked to a lot of officers and one of them

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Speaker 10: said something that has stuck with me for several years now, said, Look,

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Speaker 10: I have worked a lot of riots in my career,

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Speaker 10: but this is the first riot that I worked where

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Speaker 10: the rioters thought that they were right on, that they

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Speaker 10: were the ones that were in charge. And what scares

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Speaker 10: me is when you see the present using such racist

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Speaker 10: to racialize language like this, it risks legitimizing what those

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Speaker 10: writers believed and proves them correct.

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Speaker 11: Yeah, And I think the question is what happens with

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Speaker 11: the rest of America, Right who stands up for American

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Speaker 11: democracy when it doesn't go the way they want? And

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Speaker 11: you know, we have not seen a lot of bravery

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Speaker 11: from pretty much anyone, right billion from billionaires to you know,

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Speaker 11: Republican politicians to the Supreme Court. Everyone has basically rubber

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Speaker 11: stamped anything Donald Trump wants to do. So there is

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Speaker 11: going to be a moment where we're going to need

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Speaker 11: for democracy to keep going.

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Speaker 3: People are going.

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Speaker 11: To have to stand up, and that's going to me

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Speaker 11: people who are Republicans, members of the Supreme Court. They're

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Speaker 11: going to have to say, like this, this election was

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Speaker 11: free and fair and certified.

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Speaker 3: And you'll remember this Supreme Court did, in fact.

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Speaker 11: Do that in twenty twenty. They did not take up

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Speaker 11: the Trump's many, many cases. So I think there's a

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Speaker 11: real question about whether that moment will happen again. And

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Speaker 11: that is perhaps the most if you're going to be

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Speaker 11: concerned about anything, that would strike me as the most disconcerting.

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Speaker 10: This is the final scream of a dying regime.

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Speaker 12: Pray for our enemies, because we're going to medieval on

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Speaker 12: these people. There's got a free shot.

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Speaker 3: All these networks lying about the people.

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Speaker 12: The people have had a belly full of it. I

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Speaker 12: know you don't like hearing that. I know you've tried

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Speaker 12: to do everything.

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Speaker 3: In the world to stop there, but you're not going

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Speaker 3: to stop it.

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Speaker 8: It's going to happen.

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Speaker 3: And where do people like that go to share the

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Speaker 3: big line? Mega media?

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Speaker 1: I wish in my soul, I wish any of these

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Speaker 1: people at a conscience.

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Speaker 12: Ask yourself, what is my task and what is my purpose?

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Speaker 1: If that answer is to save my country, this country

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Speaker 1: will be saved.

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Speaker 3: War Room.

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Speaker 12: Here's your host, Stephen K.

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Speaker 13: Bab It's Wednesday, twenty August in the year Verler, twenty

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Speaker 13: twenty five.

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Speaker 12: From out the world, throughout the world, just.

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Speaker 13: More news, more things happening, and so let's cut. Let's

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Speaker 13: get to the signal, not the noise. Number one for

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Speaker 13: twenty twenty six. Gavin Newsom's getting traction among Democrats. Why

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Speaker 13: he's trying to mimic Trump, He's trying to be Fight Club.

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Speaker 13: Of course it's a parody. Of course, it's a vaudeville act.

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Speaker 13: I mean, it's Gavin Newsom after all. Right, but he's,

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Speaker 13: you know, sitting there, he's being a tough guy, he's

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Speaker 13: tweeting out, he's and so the Democrats love it. The

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Speaker 13: reason they love it they don't have any fighters over there.

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Speaker 13: They're all gutless. They have no policies now that nobody's there.

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Speaker 13: Their shows are all collapsing, their networks are collapsing. Nobody's

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Speaker 13: reading their newspapers they have. They can't control it anymore.

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Speaker 13: They can't control lots. They can't control it.

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Speaker 3: Now.

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Speaker 13: Are we winning on every front? No, but we're making

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Speaker 13: progress on so many fronts. The remember for twenty twenty six,

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Speaker 13: the mid decade census.

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Speaker 12: That has to be right this time.

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Speaker 13: No illegal aliens, and you've got to get the algorithms

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Speaker 13: right in the collection all of the mistakes that we had.

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Speaker 12: Also the redistricting in down in Texas.

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Speaker 13: Some people are some Conservators are shitting there and wetting

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Speaker 13: themselves going, oh my gosh. Well, you know there are

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Speaker 13: rules and regulation about the Democrats. There's no rules and regulations.

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Speaker 13: You put them on notice, and you put the Republicans

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Speaker 13: on us. That's how we got this far. Don't come

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Speaker 13: back with Robert's rules of order right now, and particularly

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Speaker 13: people say, well, you got at Tend, You've got a

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Speaker 13: Tend district map. Show yet what good fine? Your governor's

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Speaker 13: talked about it. Why don't you Why don't you lighten

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Speaker 13: up your governor? You know, where are the conservatives right now?

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Speaker 13: Get besides the war and some others get up on

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Speaker 13: the ramparts. We have to go maximalist on this. It

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Speaker 13: wasn't Steve Bannon that said ten. We're the ones who

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Speaker 13: started the fight for five. But then of course the

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Speaker 13: fectless Republicans let them all leave and wasted week after

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Speaker 13: week after week. So you should get one for every

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Speaker 13: week you waste it. That's at least seven. But the

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Speaker 13: governor said he got ten. If you got ten, go

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Speaker 13: for ten local new local newses doing in California. The

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Speaker 13: last is the mail in ballots and the Senator Mike Lee,

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Speaker 13: the best constitutional we've got is going to come into

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Speaker 13: mail in ballots, and yes, and the and the left

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Speaker 13: sitting they're going, well, gosh, they take away mail in ballots.

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Speaker 12: People are gonna have to show up. They're gonna have

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Speaker 12: ice agents around. People are gonna be so afraid intimidate,

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Speaker 12: they're gonnafraid. They're gonna be wrestled with.

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Speaker 13: Hey, if you're an illegal alien, you shouldn't be going

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Speaker 13: to the polls anyway. And if you go to try

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Speaker 13: to try to to try to vote. And he got

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Speaker 13: a couple of felonies. Other explosive news. It looks like

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Speaker 13: a sitting governor of the Federal Reserve is going to

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Speaker 13: get indicted for the same thing Latissia James did.

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Speaker 12: We'll get to all that. We got so much going on.

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Speaker 13: Also, remember we mentioned here, Remember we mentioned security guarantees

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Speaker 13: on war room, and I told all these guys are

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Speaker 13: big talk churs Starmer goes back. You just heard that

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Speaker 13: was the that was the ambassador. I think to Ukraine

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Speaker 13: at the time that that was a witness for the

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Speaker 13: Trump impeachment.

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Speaker 12: That's comebags and they're.

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Speaker 13: Going, oh yeah, France and England are in and they're

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Speaker 13: going to be at the front line.

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Speaker 12: It's Article five.

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Speaker 13: The British have told us no moss, no moss, No

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Speaker 13: troops can't do it. Maybe they're going to guard a port,

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Speaker 13: maybe they're going to look at the air. They're gonna

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Speaker 13: do some air but they ain't.

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Speaker 3: They are not.

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Speaker 12: In short break, we'll explain it all to you next

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Speaker 12: in the.

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Speaker 3: War room America's voice family. Are you on Getter yet?

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Speaker 14: No?

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Speaker 15: What are you waiting for?

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Speaker 16: It's free, it's uncensored, and it's where all the biggest

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Speaker 16: voices in conservative media are speaking out.

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Speaker 12: Download the Getter app right now. It's totally free.

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Speaker 13: Is where I put up exclusively all of my content

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Speaker 13: twenty four hours a day.

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Speaker 3: You want to know what Steve benn is thinking. Go together,

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Speaker 3: that's right.

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Speaker 10: You can follow all of your favorite Steve Banner, Charlie Project,

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Speaker 10: The Soldan, and.

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Speaker 3: So many more. Download the Getter app now, sign up

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Speaker 3: for free and be part of the new bank Well.

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Speaker 17: I mean, Steve Bennon will tell you just that he's.

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Speaker 8: A fan of Lisa Khns.

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Speaker 17: He believes like me that monopolies should be broken up.

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Speaker 17: I mean he believes like me that billionaires I should

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Speaker 17: not be getting tax cuts right now while working class

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Speaker 17: Americans are struggling more and more every day. And you

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Speaker 17: know the thing is too, I mean, it is empirical.

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Speaker 17: I mean we're not talking about opinions here, We're talking

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Speaker 17: about facts. The richest billionaires on the planet are getting

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Speaker 17: a lot richer because of this bill, and working Americans

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Speaker 17: are falling further and further behind.

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Speaker 8: It's not even a close call. Also, again, America's.

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Speaker 17: National debt will go up twenty trillion dollars over the

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Speaker 17: next decade. Twenty trillion dollars. The total national debt for

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Speaker 17: the first two hundred and twenty years of this Republic's

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Speaker 17: existence for trillion dollars.

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Speaker 8: So over two hundred and twenty years.

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Speaker 17: The United States government accumulated four trillion dollars of debt.

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Speaker 8: This Congress, with a bill.

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Speaker 17: They just passed, will allow the federal debt to go

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Speaker 17: up five times that much in the next decade.

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Speaker 3: Why did they do it?

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Speaker 17: Because they wanted to give billion They wanted to give

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Speaker 17: multinational corporations. They wanted to give the richest of the rich.

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Speaker 17: They wanted to give monopolists tax cuts. If I just say,

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Speaker 17: if you're a Democrat and you're running next year and

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Speaker 17: you can't win in a swing district, go into something else.

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Speaker 17: They take up water collar painting or something like that.

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Speaker 13: So it's gonna be game on, folks. We're gonna have

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Speaker 13: a chance to refute all that with facts. If it's refutable,

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Speaker 13: I say it is, but you're gonna have to You're

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Speaker 13: gonna have to really get to the math because guess what,

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Speaker 13: it's the twentieth of August, and as we've told you

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Speaker 13: on the show over and over again, and you know,

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Speaker 13: at midnight on the thirtieth of September, fiscal year runs out.

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Speaker 12: Got to start over.

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Speaker 13: President Trump does not want to shut down his government

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Speaker 13: because he's in charge, and quite frankly, we control every

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Speaker 13: aspect of it, right the Supreme Court, the Senate, the House,

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Speaker 13: the executive branch.

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Speaker 12: Well, we're trying to. Of course, the deep state hasn't

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Speaker 12: been turfed out.

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Speaker 13: Although Tulca Gabbertt has a start with thirty seven principally

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Speaker 13: grun Dunes. There's some non grunduones having their security clearances

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Speaker 13: taken away. I'd like to see some bigger names on there,

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Speaker 13: and I'm sure they're working on them. It's a process.

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Speaker 13: We got to get to this math, though it's not me.

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Speaker 13: For instance, we sell the big beautiful bill here in

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Speaker 13: the supply side, tax cut of it, in a more

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Speaker 13: sophisticated way, not just the Fox News talking points, in

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Speaker 13: a more sophisticated way with bright people than anybody.

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Speaker 12: Okay, I noticed.

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Speaker 13: Speaker Johnson that you know, in the August recess that

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Speaker 13: everybody had to have.

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Speaker 12: You had to have the August receays.

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Speaker 13: You had to do it because you had to get

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Speaker 13: back to your constituents, You had to get back to

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Speaker 13: your town halls. I noticed a paucity of town halls,

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Speaker 13: and I realize that there are, you know, the Democrats,

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Speaker 13: some of these groups thugs are showing up and trying

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Speaker 13: to shout people down.

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Speaker 12: So it's not the easiest.

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Speaker 13: But I haven't seen a massive effort to sell the

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Speaker 13: big beautiful bill and actually what it stands for. So

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Speaker 13: we got to get to that part of what's happening

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Speaker 13: right now. Also, with everything.

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Speaker 12: Going on, you have Lindsey Graham and Tom Cotton and the.

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Speaker 13: Mitch McConnell faction are pushing through trying to push through

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Speaker 13: a fifty eight billion dollar bailout for Ukraine.

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Speaker 12: Let me be blunt. Zelenski's plan came over as three

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Speaker 12: hundred bllion.

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Speaker 13: They need this going to do. They're gonna do one

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Speaker 13: hundred billion dollars purchase of our weapons. That's a big

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Speaker 13: thing in his thing. He gave the Financial Times. He

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Speaker 13: leaked to the Financial Times. So that's a country has

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Speaker 13: no money. All that money comes from you because Europeans

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Speaker 13: are not stepping up. They're not gonna because why they're

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Speaker 13: voted turf them out. The version gonna say, well, hang on,

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Speaker 13: you're taking back my pension, you're taking back my August break.

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Speaker 13: You're taken back my healthcare, my universal health care to

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Speaker 13: pay a for Ukraine.

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Speaker 12: No, you can't have that.

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Speaker 13: I told you it was all a farce. We had

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Speaker 13: the ambassador. Oh yes, the two that are really going

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Speaker 13: to be here for the Article five are gonna be

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Speaker 13: the French and the British.

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Speaker 12: The British already out. They're already out.

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Speaker 13: Remember you make this commitment, you're there for years and

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Speaker 13: years and years and years and years and decades and

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Speaker 13: decades and decades and decades. We're still in Germany at

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Speaker 13: the end of the Second World War. We're still in

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Speaker 13: Japan at the Second World War. We're still in South

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Speaker 13: Korea on.

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Speaker 12: The armistice or truce, not a peace deal, just to

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Speaker 12: cease fire in Korea. Still there, still there. So you're

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Speaker 12: gonna be in Ukraine for decades. You're gonna be in

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Speaker 12: Ukraine when the kids r I was crawling around the carpet,

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Speaker 12: little rugrats will be forty years old. Yep.

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Speaker 13: So you've got to go in tight right now. If

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Speaker 13: all that's cursed storm over here to Article five and.

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Speaker 12: All the deep thoughts on you know, all the David

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Speaker 12: Ignatius and Richard Haas and Amril Stavrita's deep thoughts. It

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Speaker 12: was deep thoughts over the weekend, deep thoughts on Monday,

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Speaker 12: deep thoughts ripping on President Trump. There's no there's no

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Speaker 12: Chris Starmer gets over. The first thing he does is

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Speaker 12: the British military comes out and says, you know, we

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Speaker 12: I think we can help her ound a port. The

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Speaker 12: world that we can help her ound a port. We can't.

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Speaker 13: We can't keep the Suez Canal open from the hooties

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Speaker 13: from guys fighting from the fifth century, except they got

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Speaker 13: a couple of drones. We got to have the couple

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Speaker 13: of American carrier battle groups. I don't know to you know,

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Speaker 13: five million bucks a day. We've got to put two

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Speaker 13: carrier battle groups up there. That keeps the Suez open.

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00:21:52,400 --> 00:21:53,720
Speaker 13: And we can give you a frigure, but we can

441
00:21:53,760 --> 00:21:57,560
Speaker 13: we can go maybe off of Odessa, right, we can

442
00:21:57,560 --> 00:21:58,200
Speaker 13: go off Odessa.

443
00:21:58,240 --> 00:22:01,480
Speaker 12: We steam off Odessa, or we'll set back, you know,

444
00:22:01,640 --> 00:22:04,560
Speaker 12: in Hungary on the border of Moldavia with some air

445
00:22:04,640 --> 00:22:05,680
Speaker 12: search and will help.

446
00:22:05,760 --> 00:22:08,840
Speaker 13: They're not going to be there. Told you it was

447
00:22:08,840 --> 00:22:11,240
Speaker 13: a joke. They're not going to be there. They want

448
00:22:11,280 --> 00:22:15,520
Speaker 13: the Americans in, they want to tie us up. They're

449
00:22:15,560 --> 00:22:19,040
Speaker 13: not prepared to do anything. It's all happy talk. And

450
00:22:19,080 --> 00:22:20,920
Speaker 13: the Brits are the best you got. Those are guys

451
00:22:20,920 --> 00:22:24,360
Speaker 13: who really have fault with us. Germans already said, can't

452
00:22:24,359 --> 00:22:26,440
Speaker 13: do it, No troops, can't do it. The Polish guys

453
00:22:26,440 --> 00:22:29,720
Speaker 13: would even come if Pasova told you that they knew

454
00:22:29,800 --> 00:22:30,280
Speaker 13: was a farce.

455
00:22:30,359 --> 00:22:31,359
Speaker 12: They said, hey, how about this.

456
00:22:31,400 --> 00:22:34,639
Speaker 13: We're not going to show up because they realize these

457
00:22:34,680 --> 00:22:37,600
Speaker 13: guys are going to try to entangle President Trump in something.

458
00:22:39,240 --> 00:22:41,600
Speaker 13: So the opportunity costs of Ukraine. Let's set it over

459
00:22:41,600 --> 00:22:43,200
Speaker 13: there and let Marco work on her for a while.

460
00:22:43,320 --> 00:22:45,320
Speaker 13: Somebody working around, and let's get back to Let's get

461
00:22:45,359 --> 00:22:49,000
Speaker 13: back to the important stuff, which is getting affordability down,

462
00:22:50,200 --> 00:22:54,720
Speaker 13: getting inflation down, getting the economy rip roaring, because that

463
00:22:54,720 --> 00:22:55,920
Speaker 13: will crush them in twenty six.

464
00:22:55,920 --> 00:22:57,199
Speaker 12: I don't care what Gavin new.

465
00:22:57,240 --> 00:23:00,919
Speaker 13: Some of these guys are skipping around and Mom, Donnie,

466
00:23:02,840 --> 00:23:05,040
Speaker 13: but we got to get and the fifty five billion

467
00:23:05,960 --> 00:23:09,440
Speaker 13: is an insult to the American people. We don't have

468
00:23:09,480 --> 00:23:12,560
Speaker 13: the luxury of going around the world anymore and looking

469
00:23:12,560 --> 00:23:16,280
Speaker 13: for places to stick our nose in. That's a European problem.

470
00:23:16,560 --> 00:23:18,560
Speaker 13: They want to be an EU nation. They want to

471
00:23:18,600 --> 00:23:20,920
Speaker 13: be a European nation. They're in you raisure right now.

472
00:23:20,960 --> 00:23:24,199
Speaker 13: God bless you, go ahead and do it. Go ahead,

473
00:23:24,240 --> 00:23:26,679
Speaker 13: but not with American money, not with American troops. Now,

474
00:23:26,720 --> 00:23:29,520
Speaker 13: with American armicer You have Zelenski with one hundred billion

475
00:23:29,600 --> 00:23:31,160
Speaker 13: dollars that he doesn't have.

476
00:23:31,440 --> 00:23:34,919
Speaker 12: Remember he's broke. They have no money.

477
00:23:35,840 --> 00:23:38,040
Speaker 13: We pay for the military, but also you also pay

478
00:23:38,080 --> 00:23:41,040
Speaker 13: for their government. Every month you're paying for a baby.

479
00:23:41,440 --> 00:23:44,520
Speaker 13: They're pension funds. They got nice pension funds. The nurses teach,

480
00:23:44,520 --> 00:23:46,520
Speaker 13: you got pension funds. How's your pension fund working out?

481
00:23:46,520 --> 00:23:48,800
Speaker 13: It's working out okay for you. There's good. You got

482
00:23:48,840 --> 00:23:52,879
Speaker 13: that one. They're trying to you know, these guys are

483
00:23:52,880 --> 00:23:55,320
Speaker 13: coming after the social security all the time, the billionaires,

484
00:23:55,440 --> 00:23:59,320
Speaker 13: oligarchs on your tiny little social security. How's that because

485
00:23:59,320 --> 00:24:02,520
Speaker 13: you're underready Ukraine. So they got another fifty five billion.

486
00:24:02,600 --> 00:24:06,160
Speaker 13: It's going to be more because they're addicted to American money.

487
00:24:06,200 --> 00:24:08,440
Speaker 13: So they got one hundred million dollars of money they

488
00:24:08,440 --> 00:24:11,479
Speaker 13: don't have coming to us on arms we don't have

489
00:24:11,640 --> 00:24:16,480
Speaker 13: because we've stripped the Pacific, we stripped everything from the

490
00:24:16,600 --> 00:24:19,440
Speaker 13: Persian the first, you know, the total obliteration of the

491
00:24:19,520 --> 00:24:24,040
Speaker 13: nuclear program of the Persians, and what we've given, what

492
00:24:24,080 --> 00:24:25,120
Speaker 13: we fed into Ukraine.

493
00:24:25,160 --> 00:24:26,400
Speaker 12: We don't have the weapons right now.

494
00:24:26,400 --> 00:24:28,080
Speaker 13: So it's the one hundred bion dollars a guy that

495
00:24:28,200 --> 00:24:31,399
Speaker 13: has no money for country that doesn't have the weapons

496
00:24:31,480 --> 00:24:34,159
Speaker 13: right now. That would be US with a bunch of

497
00:24:34,200 --> 00:24:37,240
Speaker 13: allies around who won't put up any manpower, and the

498
00:24:37,359 --> 00:24:40,680
Speaker 13: Ukrainians won't put up any manpower because they're at a

499
00:24:40,760 --> 00:24:43,280
Speaker 13: man power. The parents are saying, you're not taking any

500
00:24:43,320 --> 00:24:46,200
Speaker 13: more of my kids, and they're actually allowing sixty years old.

501
00:24:46,280 --> 00:24:48,320
Speaker 13: So they're going to have, you know, the cutting edge

502
00:24:48,359 --> 00:24:51,360
Speaker 13: sixty year olds at at the front lines. And folks,

503
00:24:51,920 --> 00:24:55,119
Speaker 13: this ain't hunting terrorists. This is a good old fashioned war.

504
00:24:56,040 --> 00:25:00,320
Speaker 13: This is brutal. Okay, this is a war. This is

505
00:25:00,359 --> 00:25:03,879
Speaker 13: like the Western Front in World War One. The Russians

506
00:25:03,880 --> 00:25:07,200
Speaker 13: don't they don't do maneuver warfare. They do grounded out

507
00:25:07,200 --> 00:25:11,440
Speaker 13: their artillery, the queen of battle, the tanks, the infantry,

508
00:25:11,800 --> 00:25:16,480
Speaker 13: and they're not particularly shy about how many folks they lose.

509
00:25:17,600 --> 00:25:19,760
Speaker 13: Remember the first thing that they go into place like Stalingrad,

510
00:25:19,800 --> 00:25:21,679
Speaker 13: it's a little bogged down. The first thing they do

511
00:25:21,720 --> 00:25:23,720
Speaker 13: is the commissars. They stand up a couple of generals

512
00:25:23,720 --> 00:25:25,760
Speaker 13: against the one they shoot them for.

513
00:25:26,000 --> 00:25:30,840
Speaker 12: For for morale purposes. These are not they're they're not.

514
00:25:32,800 --> 00:25:36,160
Speaker 13: They're not holistic, and they're not about self actualization. They're

515
00:25:36,160 --> 00:25:39,480
Speaker 13: about tak an inch and hold an inch. That's what

516
00:25:39,520 --> 00:25:42,160
Speaker 13: you're fighting over there, That's what you would get entangled with.

517
00:25:43,280 --> 00:25:46,600
Speaker 13: And you're our greatest ally the guys that actually fought

518
00:25:46,800 --> 00:25:48,200
Speaker 13: side by side with us.

519
00:25:48,720 --> 00:25:52,000
Speaker 12: The Brits Kurse s Armer is not even off the plane.

520
00:25:52,040 --> 00:25:56,360
Speaker 13: And Andrew Neil, the old conservative war horse, he's got

521
00:25:56,359 --> 00:25:58,280
Speaker 13: a tweet up that just blows the whole thing up.

522
00:25:58,320 --> 00:25:59,639
Speaker 12: He says, the thing's totally phony.

523
00:25:59,680 --> 00:26:02,879
Speaker 13: We'regue, we don't have a military, we can't defend what

524
00:26:02,960 --> 00:26:06,440
Speaker 13: we've got our own territory. I gotta think they want

525
00:26:06,440 --> 00:26:08,600
Speaker 13: to give a security guarantee. Why don't they give a

526
00:26:08,640 --> 00:26:14,000
Speaker 13: security guarantee to the English whose churches are being burned down,

527
00:26:14,240 --> 00:26:17,640
Speaker 13: historical monuments are being burned down.

528
00:26:17,720 --> 00:26:19,639
Speaker 12: They got another one today. I think outside liberty of

529
00:26:19,680 --> 00:26:20,440
Speaker 12: being burned.

530
00:26:20,200 --> 00:26:22,160
Speaker 13: Down, and you got a mosque en route, why don't

531
00:26:22,160 --> 00:26:25,000
Speaker 13: you go into central London going to Soho, send the

532
00:26:25,000 --> 00:26:25,879
Speaker 13: troops to Soho.

533
00:26:26,640 --> 00:26:29,199
Speaker 12: Go give a security guarantee for the British people. How

534
00:26:29,240 --> 00:26:33,119
Speaker 12: about that? I think they'd vote for that. Start with

535
00:26:33,240 --> 00:26:36,199
Speaker 12: your own countries since you now and it's not me,

536
00:26:36,320 --> 00:26:39,280
Speaker 12: it's the British lieutenant colonel from the other day saying, Hey,

537
00:26:39,280 --> 00:26:40,880
Speaker 12: I think we're on the brink of civil war.

538
00:26:41,200 --> 00:26:44,000
Speaker 13: Think you might need your troops to that. Starmer knows

539
00:26:44,040 --> 00:26:47,280
Speaker 13: that no money, no arms, no men.

540
00:26:49,000 --> 00:26:52,719
Speaker 12: Short break, talk about the fit of Reserve.

541
00:26:52,960 --> 00:27:01,840
Speaker 15: Next in the world, the Fed's next move the Feds

542
00:27:01,840 --> 00:27:04,439
Speaker 15: and next move is in Jackson Hall, Wyoming, when the

543
00:27:04,560 --> 00:27:07,000
Speaker 15: chairman gets the committee together and has a big conversation

544
00:27:07,040 --> 00:27:09,480
Speaker 15: about the future. The elephant in the room is the

545
00:27:09,520 --> 00:27:12,240
Speaker 15: political pressure coming from the other side of Washington, d C.

546
00:27:12,720 --> 00:27:14,920
Speaker 15: More specifically coming from the White House.

547
00:27:15,040 --> 00:27:17,359
Speaker 3: This was the LASiS this morning. We've been tracking this story.

548
00:27:17,400 --> 00:27:20,920
Speaker 15: The director of the Federal Housing Finance Agency, Bill Poulty,

549
00:27:21,400 --> 00:27:24,199
Speaker 15: is urging the Attorney General Pam Boondi to investigate the

550
00:27:24,200 --> 00:27:27,960
Speaker 15: Federal Reserve. Governor Lisa Cook over a pair of mortgages,

551
00:27:28,359 --> 00:27:31,160
Speaker 15: the President taking their story, putting it out on social

552
00:27:31,200 --> 00:27:35,440
Speaker 15: media just moments ago and writing this that Cook must resign.

553
00:27:36,040 --> 00:27:38,240
Speaker 3: Now, this feels somewhat.

554
00:27:38,600 --> 00:27:41,199
Speaker 16: Predictable in some ways because there has been a focus

555
00:27:41,280 --> 00:27:45,520
Speaker 16: of reshaping the Federal Reserve putting some of the allegations aside.

556
00:27:45,560 --> 00:27:47,280
Speaker 3: It just highlights how fraught.

557
00:27:47,040 --> 00:27:49,920
Speaker 16: This meeting is in Jackson Hall at a time where

558
00:27:49,920 --> 00:27:52,840
Speaker 16: there is so much political focus of reshaping the way

559
00:27:52,880 --> 00:27:54,320
Speaker 16: that they set monetary.

560
00:27:53,880 --> 00:27:55,680
Speaker 3: Policy framework review.

561
00:27:56,000 --> 00:27:58,240
Speaker 15: How valuable is this framework review when we've got a

562
00:27:58,280 --> 00:28:01,680
Speaker 15: linked up FED share and an administration pushing to change

563
00:28:02,000 --> 00:28:05,119
Speaker 15: the Federal Reserve as an institution from the bottom.

564
00:28:05,240 --> 00:28:06,200
Speaker 3: Yeah, people will.

565
00:28:06,000 --> 00:28:08,680
Speaker 16: Be asking that question and how much does that threat

566
00:28:08,760 --> 00:28:11,000
Speaker 16: kind of a little large over some of the way

567
00:28:11,040 --> 00:28:14,000
Speaker 16: that these things are shifted. Look, a real question here,

568
00:28:14,000 --> 00:28:15,920
Speaker 16: and this is something that the market is looking for,

569
00:28:16,200 --> 00:28:19,560
Speaker 16: is how much credibility well whoever comes into the FED

570
00:28:19,880 --> 00:28:22,840
Speaker 16: continue to lend the idea of independence and how much

571
00:28:22,880 --> 00:28:25,320
Speaker 16: will global leaders on central banks.

572
00:28:25,080 --> 00:28:26,600
Speaker 3: Try to adify that message.

573
00:28:28,960 --> 00:28:34,119
Speaker 13: Okay, folks, it looks like they're going to indict a

574
00:28:34,200 --> 00:28:37,560
Speaker 13: sitting governor of the Federal Reserve, Lisa Cook, for this

575
00:28:37,640 --> 00:28:39,640
Speaker 13: mortgage frauld the same thing as Letitia James.

576
00:28:39,720 --> 00:28:43,760
Speaker 12: I think Poulty over it. I don't know, Freddie mac

577
00:28:43,840 --> 00:28:44,320
Speaker 12: Fannie May.

578
00:28:44,400 --> 00:28:46,120
Speaker 3: One of them went.

579
00:28:46,000 --> 00:28:47,840
Speaker 13: Through the went through I guess, went through the files

580
00:28:47,880 --> 00:28:52,080
Speaker 13: and came back and turned it over to the Justice Department,

581
00:28:52,120 --> 00:28:54,960
Speaker 13: referred to Justice Department for a criminal referral.

582
00:28:55,960 --> 00:28:57,840
Speaker 12: And methinks that Ed Martin.

583
00:28:57,560 --> 00:29:00,440
Speaker 13: And his weaponization team and he's all over Letitias. Ed

584
00:29:00,520 --> 00:29:04,560
Speaker 13: Martin actually put out a staban yes, say ten, Letisa

585
00:29:04,680 --> 00:29:09,520
Speaker 13: James to resign as Attorney General of New York. Big

586
00:29:09,560 --> 00:29:15,360
Speaker 13: tish James, right, And he essentially said, we're gonna indict

587
00:29:15,480 --> 00:29:17,640
Speaker 13: you and we're going to put you in prison because

588
00:29:17,680 --> 00:29:21,680
Speaker 13: you're guilty. Girl, Lisa Cook looks like the same thing

589
00:29:21,760 --> 00:29:24,200
Speaker 13: and happening, and we're bringing David Malpas David, I don't

590
00:29:24,200 --> 00:29:26,320
Speaker 13: believe this has ever happened before. And on the eve

591
00:29:27,240 --> 00:29:29,000
Speaker 13: of the Jackson Hole meetings, why don't you tell our

592
00:29:29,000 --> 00:29:32,000
Speaker 13: audience first? What are the Jackson Hole meetings? Why had

593
00:29:32,040 --> 00:29:34,040
Speaker 13: they become so important?

594
00:29:34,080 --> 00:29:36,520
Speaker 18: Sir Hi Steve?

595
00:29:37,240 --> 00:29:41,080
Speaker 14: In general, the Federal Reserve is not transparent, so there

596
00:29:41,080 --> 00:29:44,640
Speaker 14: are meetings where it's hard to know who's on the invite,

597
00:29:44,680 --> 00:29:46,080
Speaker 14: list who is there.

598
00:29:46,200 --> 00:29:47,400
Speaker 18: Some will be on TV.

599
00:29:47,840 --> 00:29:50,960
Speaker 14: They meet in Jackson Hole, Wyoming, so it's an exclusive,

600
00:29:51,560 --> 00:29:56,600
Speaker 14: controlled environment. There are chosen TV reporters who will be

601
00:29:56,680 --> 00:29:58,160
Speaker 14: there interviewing.

602
00:29:57,600 --> 00:29:59,720
Speaker 18: People, and they put out the message.

603
00:30:00,000 --> 00:30:04,120
Speaker 14: And in general the message is central banking is great

604
00:30:04,160 --> 00:30:08,000
Speaker 14: and should run the world. And that is the core

605
00:30:08,040 --> 00:30:10,720
Speaker 14: of the problem. If you think about the deep state,

606
00:30:10,960 --> 00:30:15,800
Speaker 14: it applies to the military complex, the trade complex, the

607
00:30:15,920 --> 00:30:20,560
Speaker 14: regulatory complex, the spending government spending and getting bigger, and

608
00:30:21,120 --> 00:30:24,680
Speaker 14: to central banking. It's the core in many ways of

609
00:30:24,760 --> 00:30:28,120
Speaker 14: the deep state. And they're not transparent about what the

610
00:30:28,200 --> 00:30:31,320
Speaker 14: senior people do in terms of their investments, how they

611
00:30:31,360 --> 00:30:35,080
Speaker 14: get mortgages, all of that, which I guess they're looking into.

612
00:30:38,120 --> 00:30:39,080
Speaker 12: You wrote this piece.

613
00:30:39,200 --> 00:30:43,320
Speaker 13: You know, I'm getting very concerned that there hasn't been

614
00:30:43,320 --> 00:30:45,520
Speaker 13: the effort to support President Trump. I mean, he had

615
00:30:45,520 --> 00:30:47,239
Speaker 13: to with the vote to get the thing done. I mean,

616
00:30:47,240 --> 00:30:49,000
Speaker 13: think about that for a second. Of course, the Senate

617
00:30:49,080 --> 00:30:54,200
Speaker 13: left they didn't think President Trump was trustworthy enough to

618
00:30:54,360 --> 00:30:56,600
Speaker 13: go in real recess or you can have recess appointments.

619
00:30:56,640 --> 00:30:59,480
Speaker 13: So as you know, it's not nobody staffed, right, you

620
00:30:59,520 --> 00:31:01,920
Speaker 13: got the abet heads. We don't really have anybody else

621
00:31:01,920 --> 00:31:05,440
Speaker 13: you get hundreds of people backed up, including your attorney.

622
00:31:05,480 --> 00:31:06,560
Speaker 12: So that thing's a fiasco.

623
00:31:07,080 --> 00:31:09,640
Speaker 13: But they really hasn't been a huge effort by the

624
00:31:09,680 --> 00:31:13,600
Speaker 13: Senate in the House to get out and too basically

625
00:31:13,600 --> 00:31:15,680
Speaker 13: sell the big beautiful bill. Now you've got a piece,

626
00:31:15,720 --> 00:31:19,280
Speaker 13: I think in the Wall Street Journal. You're a growth guy,

627
00:31:19,320 --> 00:31:21,520
Speaker 13: you're a supply side guy. Want me through where we

628
00:31:21,600 --> 00:31:25,480
Speaker 13: are right now and how you believe the central bank

629
00:31:25,560 --> 00:31:29,520
Speaker 13: is starting our ability to really take the chains off

630
00:31:29,520 --> 00:31:31,920
Speaker 13: and unleash the animal spirits on growth, sir.

631
00:31:34,200 --> 00:31:37,840
Speaker 14: The interest rates are too damn high, and the central

632
00:31:37,880 --> 00:31:41,040
Speaker 14: banking around the world thinks that they know what the

633
00:31:41,120 --> 00:31:45,280
Speaker 14: right interest rate is for a market economy. That's not possible,

634
00:31:45,600 --> 00:31:50,080
Speaker 14: especially nowadays, because they pay interest to banks and so

635
00:31:50,920 --> 00:31:55,080
Speaker 14: they're distorting and controlling the market, and it hurts growth.

636
00:31:55,160 --> 00:31:59,000
Speaker 14: It means that there's not enough lending to small businesses.

637
00:31:59,400 --> 00:32:02,720
Speaker 14: They aren't creating the supply chain that's needed to hold

638
00:32:02,720 --> 00:32:06,920
Speaker 14: down prices. So they work on this fiction that fast

639
00:32:07,040 --> 00:32:08,440
Speaker 14: growth causes inflation.

640
00:32:09,000 --> 00:32:11,560
Speaker 18: Think what that does to the Trump agenda.

641
00:32:11,640 --> 00:32:15,520
Speaker 14: President Trump has a full growth program in terms of energy,

642
00:32:15,600 --> 00:32:18,640
Speaker 14: in terms of the dollar as the global reserve currency,

643
00:32:18,880 --> 00:32:23,920
Speaker 14: the growth of crypto, the trade changes that are going

644
00:32:23,960 --> 00:32:28,640
Speaker 14: to bring manufacturing home. All of that is undercut precisely

645
00:32:28,680 --> 00:32:34,600
Speaker 14: by the way the FED regulates small businesses and discourages

646
00:32:34,680 --> 00:32:38,520
Speaker 14: banks from doing that. The banks are lending to governments

647
00:32:38,560 --> 00:32:43,640
Speaker 14: and big corporations, and that just kills growth at the

648
00:32:43,760 --> 00:32:48,920
Speaker 14: medium level. The working person is not getting the new jobs.

649
00:32:49,160 --> 00:32:52,160
Speaker 14: It's going elsewhere, you know, to the upper end of

650
00:32:52,200 --> 00:32:56,760
Speaker 14: the economy. So that's my point in the Wall Street

651
00:32:56,800 --> 00:33:00,440
Speaker 14: Journal article today, this is a big article point out

652
00:33:00,720 --> 00:33:06,040
Speaker 14: that the likelihood is that the FED, the academics will

653
00:33:06,320 --> 00:33:10,160
Speaker 14: join ranks and prevent change at the Federal Reserve.

654
00:33:14,320 --> 00:33:20,480
Speaker 12: And how are you optimistic at all? That powers?

655
00:33:20,600 --> 00:33:25,520
Speaker 13: Clearly Powell and the eight thousand economists at the Federal Reserve.

656
00:33:25,600 --> 00:33:27,960
Speaker 12: Do not agree with you.

657
00:33:28,000 --> 00:33:30,440
Speaker 13: They don't agree with President Trump, they don't agree with

658
00:33:30,800 --> 00:33:32,840
Speaker 13: was it James Fishback and all these guys come on

659
00:33:32,920 --> 00:33:36,680
Speaker 13: here and say Scott Bessant, Secretary Treasurer, come and say, hey,

660
00:33:36,680 --> 00:33:39,160
Speaker 13: the natural interest rates and we make we make this

661
00:33:39,320 --> 00:33:43,400
Speaker 13: analytical argument that rates can be cut. And I think Bessant,

662
00:33:43,480 --> 00:33:47,000
Speaker 13: who's a pretty you know, safe pair hands guy, he's

663
00:33:47,000 --> 00:33:49,160
Speaker 13: no radical. He's saying that it could be cut by

664
00:33:49,160 --> 00:33:51,360
Speaker 13: one hundred to one hundred and seventy five basis points.

665
00:33:52,080 --> 00:33:54,400
Speaker 12: So they don't agree with it. You would, you would,

666
00:33:55,120 --> 00:33:56,160
Speaker 12: You're in agreement with me.

667
00:33:56,200 --> 00:33:59,400
Speaker 13: That they don't that Powell and his team of economists

668
00:33:59,680 --> 00:34:00,880
Speaker 13: don't leave that correct.

669
00:34:02,080 --> 00:34:02,520
Speaker 3: That's right.

670
00:34:02,600 --> 00:34:04,000
Speaker 18: They have their head in the sand.

671
00:34:04,040 --> 00:34:06,240
Speaker 14: But isn't that what's going on in so many of

672
00:34:06,280 --> 00:34:09,360
Speaker 14: the deep state areas. If you say how many of

673
00:34:09,480 --> 00:34:13,439
Speaker 14: the traditional economists agreed with Trump on trade, it.

674
00:34:13,400 --> 00:34:14,760
Speaker 18: Was two percent.

675
00:34:15,440 --> 00:34:19,120
Speaker 14: And if you say how many of them actually realize

676
00:34:19,320 --> 00:34:22,640
Speaker 14: that government spending subtracts from the will of the people

677
00:34:22,760 --> 00:34:26,600
Speaker 14: and subtracts from the growth of the economy, they don't

678
00:34:26,600 --> 00:34:31,439
Speaker 14: agree with that. They've been skilled schooled in Keynesianism, which

679
00:34:31,480 --> 00:34:34,600
Speaker 14: says government spending is great, and it's the same at

680
00:34:34,600 --> 00:34:39,440
Speaker 14: the FED. They really do think that fast growth is

681
00:34:39,520 --> 00:34:43,120
Speaker 14: dangerous for the economy because somebody might get to raise

682
00:34:43,200 --> 00:34:46,080
Speaker 14: their prices. And they also think, and this is what's

683
00:34:46,120 --> 00:34:49,480
Speaker 14: important right now, that in some way high interest rates

684
00:34:49,719 --> 00:34:53,000
Speaker 14: holds down the inflation rate. They just don't see that

685
00:34:53,120 --> 00:34:57,239
Speaker 14: the high interest rates hurt small businesses the most, and

686
00:34:57,280 --> 00:35:02,800
Speaker 14: so they actually are keep the uh the inflation going

687
00:35:02,880 --> 00:35:05,719
Speaker 14: within the economy. I think we have to have a

688
00:35:05,840 --> 00:35:09,040
Speaker 14: full upheople in the models at the FED. It's not

689
00:35:09,160 --> 00:35:13,640
Speaker 14: just the personnel, it's the actual economic thinking on how

690
00:35:13,680 --> 00:35:18,040
Speaker 14: the economy works. And it's very President Trump is exactly

691
00:35:18,080 --> 00:35:21,040
Speaker 14: on the right track. And I think unless there's this

692
00:35:21,200 --> 00:35:24,560
Speaker 14: magnitude of change of the FED, then they will undercut

693
00:35:24,640 --> 00:35:26,080
Speaker 14: what the President is trying to.

694
00:35:26,040 --> 00:35:26,840
Speaker 18: Do on growth.

695
00:35:28,600 --> 00:35:30,720
Speaker 13: What do you mean not just I mean financial models

696
00:35:30,719 --> 00:35:33,640
Speaker 13: come from from people or I know today AI comes

697
00:35:33,680 --> 00:35:34,120
Speaker 13: from somebody.

698
00:35:34,120 --> 00:35:34,800
Speaker 12: You've got to purge.

699
00:35:34,800 --> 00:35:37,359
Speaker 13: You got to rethink that, like Beston has been saying,

700
00:35:37,400 --> 00:35:39,840
Speaker 13: you got to go back to the beginning on a

701
00:35:39,840 --> 00:35:42,480
Speaker 13: whiteboard and say exactly what we're doing here? Why do

702
00:35:42,520 --> 00:35:45,120
Speaker 13: we need a central bank? Maybe we should audit the

703
00:35:45,160 --> 00:35:48,600
Speaker 13: central bank? What's the what's the mission of the central bank?

704
00:35:48,640 --> 00:35:50,759
Speaker 12: Does it have too many mandates? Does it have not

705
00:35:50,920 --> 00:35:51,960
Speaker 12: enough mandates?

706
00:35:52,200 --> 00:35:55,359
Speaker 13: And I guess you're saying, really, rethink this because this

707
00:35:55,480 --> 00:35:59,240
Speaker 13: deep state on the financial side, tied to the Wall Street,

708
00:35:59,320 --> 00:36:01,759
Speaker 13: tied to the the Larry Finkx of the world, the

709
00:36:01,800 --> 00:36:06,000
Speaker 13: hedge funds of the world, they're actually it's grossly independent.

710
00:36:06,160 --> 00:36:09,920
Speaker 13: It's actually controlled, it's just not controlled by the American people.

711
00:36:10,000 --> 00:36:12,040
Speaker 13: Is that the case you're making that this has to

712
00:36:12,080 --> 00:36:16,680
Speaker 13: be totally rethought our concept of the central banks and

713
00:36:16,719 --> 00:36:19,200
Speaker 13: how it interacts with other central banks throughout the world.

714
00:36:20,600 --> 00:36:21,120
Speaker 3: That's right.

715
00:36:21,320 --> 00:36:24,839
Speaker 14: I'm trying to simplify it down for people because I

716
00:36:24,880 --> 00:36:28,440
Speaker 14: think that people around the country can understand it better

717
00:36:28,520 --> 00:36:32,040
Speaker 14: than the Federal Reserve can. The high interest rates pays

718
00:36:32,120 --> 00:36:35,920
Speaker 14: Wall Street. It pays rich people for interest on money,

719
00:36:36,360 --> 00:36:42,000
Speaker 14: but it's not necessary for fighting inflation. If the Federal

720
00:36:42,040 --> 00:36:46,360
Speaker 14: Reserve had the rate, let's say, fifty basis points lower

721
00:36:46,400 --> 00:36:50,359
Speaker 14: in September, that would be better for the economy. That's

722
00:36:50,400 --> 00:36:52,840
Speaker 14: what foreign central banks are doing. The Bank of England

723
00:36:53,040 --> 00:36:57,120
Speaker 14: has cut three times this year. The pound is not weaker,

724
00:36:57,440 --> 00:37:01,760
Speaker 14: the inflation rate there is not higher, and so because

725
00:37:02,000 --> 00:37:06,320
Speaker 14: it allows more growth within the economy. So I invite

726
00:37:06,360 --> 00:37:11,440
Speaker 14: people not to overthink this in terms of economic models

727
00:37:11,480 --> 00:37:14,320
Speaker 14: and fancy PhD economists.

728
00:37:14,840 --> 00:37:15,840
Speaker 18: They've had it wrong.

729
00:37:16,080 --> 00:37:19,359
Speaker 14: That's why we keep getting these waves of inflation that

730
00:37:19,560 --> 00:37:24,399
Speaker 14: really hurt media and income. They hurt people's wages more

731
00:37:24,440 --> 00:37:29,080
Speaker 14: than the inflation, so people lose ground. When the central

732
00:37:29,080 --> 00:37:32,359
Speaker 14: bank is operating and controlling the economy the way it

733
00:37:32,480 --> 00:37:37,120
Speaker 14: is now, they set the floor on interest rates and

734
00:37:37,160 --> 00:37:41,840
Speaker 14: they set it. The Federal Reserve is setting the interest

735
00:37:41,880 --> 00:37:46,360
Speaker 14: rates high enough to benefit rich people, and that is

736
00:37:47,239 --> 00:37:50,880
Speaker 14: not necessary within economic theory.

737
00:37:52,000 --> 00:37:55,320
Speaker 18: Why are the US is the world superpower?

738
00:37:55,560 --> 00:38:00,000
Speaker 14: Why are interest rates higher here than in weaker countries?

739
00:38:00,000 --> 00:38:00,880
Speaker 18: Doesn't make sense.

740
00:38:01,760 --> 00:38:06,360
Speaker 14: Important in this Steve is that I think the Trump

741
00:38:06,400 --> 00:38:10,600
Speaker 14: plan has to bring in more about defending the dollar

742
00:38:10,640 --> 00:38:14,000
Speaker 14: as the world's reserve currency. The whole world wants to

743
00:38:14,040 --> 00:38:17,680
Speaker 14: attack that and take down the US. China in particular

744
00:38:17,800 --> 00:38:21,720
Speaker 14: wants to do that. And so a core thing within

745
00:38:21,920 --> 00:38:25,120
Speaker 14: the Trump Plan is to realize that the dollar is

746
00:38:25,160 --> 00:38:28,640
Speaker 14: going to be a stable store of value for fifty years.

747
00:38:28,640 --> 00:38:29,840
Speaker 18: It's the Trump dollar.

748
00:38:30,280 --> 00:38:33,000
Speaker 14: And if they said that, then interest rates could come

749
00:38:33,040 --> 00:38:33,640
Speaker 14: down quickly.

750
00:38:33,880 --> 00:38:35,279
Speaker 18: Right now, I think.

751
00:38:38,320 --> 00:38:41,359
Speaker 13: Also, I love that about the stable This is one

752
00:38:41,360 --> 00:38:43,120
Speaker 13: of the things we teach in the end of the

753
00:38:43,160 --> 00:38:43,840
Speaker 13: Dollar Empire.

754
00:38:43,920 --> 00:38:45,239
Speaker 12: What you have to do.

755
00:38:47,719 --> 00:38:50,520
Speaker 13: This plan, our high side plan, which gott Bessen said,

756
00:38:50,560 --> 00:38:51,840
Speaker 13: this is going to be the last shot. You're going

757
00:38:51,920 --> 00:38:55,040
Speaker 13: to have to really have a supply site solution. It's

758
00:38:55,080 --> 00:38:57,440
Speaker 13: predicated on three three and a half percent, maybe even

759
00:38:57,520 --> 00:39:00,880
Speaker 13: higher growth. We hit three Now people saying that's an

760
00:39:00,880 --> 00:39:03,040
Speaker 13: anomaly because of the tariffs, and people trying to get

761
00:39:03,040 --> 00:39:05,879
Speaker 13: ahead of the terriffs. But if rates don't come down,

762
00:39:06,320 --> 00:39:08,000
Speaker 13: we've going to get about a minute here. If rates

763
00:39:08,040 --> 00:39:10,440
Speaker 13: don't come down, do you see the possibility we can

764
00:39:10,480 --> 00:39:12,120
Speaker 13: get the three and a half percent growth, which is

765
00:39:12,200 --> 00:39:14,640
Speaker 13: kind of what we need to grow our way out

766
00:39:14,640 --> 00:39:19,440
Speaker 13: of this financial fiasco that handed to us by Biden.

767
00:39:20,880 --> 00:39:23,120
Speaker 14: I don't think we can get there because the Fed

768
00:39:23,280 --> 00:39:26,040
Speaker 14: is setting the interest rate at such a high level,

769
00:39:26,360 --> 00:39:29,160
Speaker 14: so it's hard to see that the supply chain can

770
00:39:29,239 --> 00:39:33,520
Speaker 14: be repaired by the small businesses that need working capital

771
00:39:34,000 --> 00:39:37,560
Speaker 14: unless the Fed really makes the interest rate cuts. I

772
00:39:37,560 --> 00:39:41,279
Speaker 14: think they're against Trump and will resist and resist. That's

773
00:39:41,360 --> 00:39:43,879
Speaker 14: going on this week at Jackson Hole, but it will

774
00:39:43,880 --> 00:39:48,959
Speaker 14: go on over the coming months. All the PhD economists

775
00:39:49,040 --> 00:39:52,440
Speaker 14: will say, oh, we can't possibly cut interest rates, even

776
00:39:52,480 --> 00:39:55,239
Speaker 14: though if you look around the world, everybody else has

777
00:39:55,239 --> 00:39:56,239
Speaker 14: been able to do it.

778
00:39:56,480 --> 00:39:58,080
Speaker 18: So this is the moment of truth.

779
00:39:58,120 --> 00:40:02,280
Speaker 14: It's a golden opportunity for President Trump to really create

780
00:40:02,320 --> 00:40:05,600
Speaker 14: an upheaple of full up people in the FEDS, models

781
00:40:05,640 --> 00:40:09,160
Speaker 14: that give us better growth and more market.

782
00:40:08,760 --> 00:40:13,400
Speaker 12: Confidence if real quickly.

783
00:40:13,480 --> 00:40:16,440
Speaker 13: If Lisa Cook has to step down, President Trump's demanding

784
00:40:16,480 --> 00:40:19,319
Speaker 13: she stepped down from the from the Board of the

785
00:40:19,320 --> 00:40:21,680
Speaker 13: Governors of the Federal Reserve, if she was a step

786
00:40:21,719 --> 00:40:23,759
Speaker 13: down or you're available to step in, sir.

787
00:40:25,000 --> 00:40:27,799
Speaker 14: Well, Steve, you know, I'm a mega guy. I'm a

788
00:40:27,840 --> 00:40:31,640
Speaker 14: manufacturing guy. I want to see the country do really well.

789
00:40:31,880 --> 00:40:34,480
Speaker 14: So everyone should step up to the moment. And so

790
00:40:34,640 --> 00:40:36,080
Speaker 14: I don't know about that.

791
00:40:39,320 --> 00:40:42,400
Speaker 13: David Malpass former head of the World Bank under President Trump,

792
00:40:43,000 --> 00:40:46,360
Speaker 13: Undersecretary for International Finance, I think number three job in

793
00:40:46,400 --> 00:40:49,280
Speaker 13: the Treasury. Thank you so much, sir. What's your social media?

794
00:40:49,480 --> 00:40:50,560
Speaker 13: Can you hit it to me quick?

795
00:40:51,400 --> 00:40:52,759
Speaker 18: Yeah, at David R.

796
00:40:52,880 --> 00:40:56,680
Speaker 14: Malpass, So that's the Twitter, orthex dot com.

797
00:40:57,000 --> 00:40:58,879
Speaker 12: Thank you, sir.

798
00:40:59,160 --> 00:41:03,839
Speaker 3: I appreciate Republicans in Washington. Wake up.

799
00:41:04,760 --> 00:41:08,200
Speaker 2: You're losing it on the most important issue in America.

800
00:41:07,840 --> 00:41:08,800
Speaker 3: And that's the economy.

801
00:41:08,800 --> 00:41:12,040
Speaker 2: And that's not my opinion, it is the reality as

802
00:41:12,120 --> 00:41:15,839
Speaker 2: expressed by all credible polling, including my own surveys. Now

803
00:41:15,880 --> 00:41:19,239
Speaker 2: my newest survey. It was positive overall for Trump and

804
00:41:19,280 --> 00:41:23,480
Speaker 2: for the GOP voters. Thankfully, they trust Republicans on security

805
00:41:23,560 --> 00:41:27,080
Speaker 2: issues from street safety to the border, and they massively

806
00:41:27,160 --> 00:41:32,399
Speaker 2: back deportations. But they are also super upset and anxious

807
00:41:32,520 --> 00:41:33,600
Speaker 2: about the economy.

808
00:41:33,640 --> 00:41:34,800
Speaker 3: And for very good reason.

809
00:41:35,239 --> 00:41:38,399
Speaker 2: Right now, a scant twenty three percent say that your big,

810
00:41:38,440 --> 00:41:43,879
Speaker 2: beautiful bill will help them independence. Today they're far more

811
00:41:43,880 --> 00:41:47,480
Speaker 2: pessimistic on the economy than they were last November when

812
00:41:47,520 --> 00:41:48,040
Speaker 2: Trump won.

813
00:41:49,040 --> 00:41:51,040
Speaker 3: Here's why they can't afford their lives.

814
00:41:51,320 --> 00:41:56,200
Speaker 2: And they now blame you Republicans as the governing party.

815
00:41:56,520 --> 00:41:58,640
Speaker 2: So the time for real action and a time for

816
00:41:58,760 --> 00:42:04,960
Speaker 2: a new media campaign is right now, or get ready

817
00:42:04,960 --> 00:42:07,640
Speaker 2: to get rinsed in the twenty twenty six mid terms,

818
00:42:07,800 --> 00:42:12,120
Speaker 2: especially without the help of Trump on the ballot. Now,

819
00:42:12,120 --> 00:42:14,920
Speaker 2: there are solutions if you get a sense of urgency

820
00:42:15,239 --> 00:42:18,400
Speaker 2: immediately see my column.

821
00:42:18,040 --> 00:42:20,480
Speaker 8: For the details.

822
00:42:21,960 --> 00:42:23,520
Speaker 12: Okay, Steve Cortez joins us.

823
00:42:23,600 --> 00:42:26,680
Speaker 13: Also, you just heard Malpass about the dollar we're gonna

824
00:42:26,719 --> 00:42:30,239
Speaker 13: get also hopefully Philip Patrick this morning, if we can

825
00:42:30,280 --> 00:42:34,520
Speaker 13: do it, if now would be tomorrow morning. Birch Gold,

826
00:42:35,200 --> 00:42:37,520
Speaker 13: you'll understand it all. It's not the price of gold,

827
00:42:37,600 --> 00:42:40,239
Speaker 13: it's the process of how the price is determined.

828
00:42:41,000 --> 00:42:41,960
Speaker 12: Birch gold dot com.

829
00:42:42,000 --> 00:42:44,399
Speaker 13: The end of the Dollar Empire, Birch Gold dot com

830
00:42:44,440 --> 00:42:47,760
Speaker 13: slash Bannon that would be me. That's the promo code.

831
00:42:47,920 --> 00:42:50,520
Speaker 13: End of the Dollar Empire seven free installments now eight

832
00:42:50,520 --> 00:42:53,360
Speaker 13: and nine or underway. We're also coming out with a

833
00:42:53,400 --> 00:43:02,040
Speaker 13: physical copy of it so you can have it. Steve Cortez,

834
00:43:02,800 --> 00:43:06,880
Speaker 13: Jeffrey Tucker, who I think very highly of. Jeffrey Tucker's

835
00:43:06,920 --> 00:43:09,120
Speaker 13: got a big piece in Epic Times, which is the

836
00:43:09,120 --> 00:43:12,399
Speaker 13: best broadsheet in this nation, as a paper that's been

837
00:43:12,480 --> 00:43:15,080
Speaker 13: linked to by zero Hedge. I love the Zero Hedge guys.

838
00:43:15,120 --> 00:43:18,399
Speaker 13: Although let's be blunt every now and again, when.

839
00:43:18,320 --> 00:43:20,239
Speaker 12: You're clicking through the zero hitch, I tell people this,

840
00:43:20,719 --> 00:43:24,080
Speaker 12: you may click through to RT or to one of

841
00:43:24,120 --> 00:43:27,160
Speaker 12: these think tanks in Moscow that maybe got took a

842
00:43:27,200 --> 00:43:29,240
Speaker 12: dollar or two from the KGB.

843
00:43:29,800 --> 00:43:31,680
Speaker 13: Not that some of our thing tanks don't take money

844
00:43:31,680 --> 00:43:34,520
Speaker 13: from usaid to say, but just be just be aware

845
00:43:34,560 --> 00:43:37,040
Speaker 13: when you go through. So but Tucker's got a thing

846
00:43:37,040 --> 00:43:40,320
Speaker 13: about the inflation. He his piece, and he's an economist.

847
00:43:40,760 --> 00:43:44,000
Speaker 13: It really doubles, it really backs up yours that we

848
00:43:44,080 --> 00:43:47,440
Speaker 13: got to get serious about this now. And my concern is, Steve,

849
00:43:47,560 --> 00:43:50,759
Speaker 13: is that the House and the Senate are not out

850
00:43:50,840 --> 00:43:53,160
Speaker 13: selling the big beautiful bill. They're not selling the supply

851
00:43:53,239 --> 00:43:55,480
Speaker 13: side tax cut of this. We're not getting we're not

852
00:43:55,520 --> 00:43:58,480
Speaker 13: getting any momentum on that. And we're coming back, folks,

853
00:43:58,800 --> 00:44:01,080
Speaker 13: and guess what, get rate to bend over and grab

854
00:44:01,160 --> 00:44:04,279
Speaker 13: them because they got a fifty five billion dollar you know,

855
00:44:04,440 --> 00:44:06,520
Speaker 13: Uncle Sugar is going to be tapped for fifty five

856
00:44:06,560 --> 00:44:09,000
Speaker 13: billion dollars up to one hundred billion dollars in Ukraine

857
00:44:09,040 --> 00:44:12,400
Speaker 13: fiasco immediately, and they're going to jam in the third

858
00:44:12,440 --> 00:44:13,320
Speaker 13: week of September.

859
00:44:13,360 --> 00:44:15,600
Speaker 12: Take your number two prints of lad and write it down.

860
00:44:15,960 --> 00:44:17,680
Speaker 13: They're going to come back with a non tobus that

861
00:44:17,680 --> 00:44:19,359
Speaker 13: they're working on right now. It's going to have a

862
00:44:19,360 --> 00:44:22,080
Speaker 13: two trillion dollar deficit for next year, and they're going

863
00:44:22,120 --> 00:44:24,080
Speaker 13: to put a gun to President drum Sead and said, hey,

864
00:44:24,120 --> 00:44:25,279
Speaker 13: you know, we got to take care of all of

865
00:44:25,280 --> 00:44:27,600
Speaker 13: this at one time or your government's going to have

866
00:44:27,680 --> 00:44:28,239
Speaker 13: to shut down.

867
00:44:28,280 --> 00:44:29,120
Speaker 12: We got to get funding.

868
00:44:29,239 --> 00:44:31,480
Speaker 13: It's all going to happen, folks, It's all out there

869
00:44:31,520 --> 00:44:33,600
Speaker 13: to be happening. Steve Cortez, your thoughts.

870
00:44:34,200 --> 00:44:39,400
Speaker 2: Yeah, so listen, Yes, you're exactly correct. Down, You're exactly correct.

871
00:44:39,560 --> 00:44:42,920
Speaker 2: There is way too much complacency, way too much complacency

872
00:44:43,040 --> 00:44:46,680
Speaker 2: among Republicans in Washington, d C. On the foundational issue

873
00:44:46,680 --> 00:44:49,000
Speaker 2: of the economy. And as I point out that video

874
00:44:49,120 --> 00:44:51,360
Speaker 2: and in my article because of my polling, and I

875
00:44:51,520 --> 00:44:54,960
Speaker 2: just pulled the state of Georgia, right, key swing state. Overall,

876
00:44:55,160 --> 00:44:57,880
Speaker 2: good poll for Republicans, but on the economy, the numbers

877
00:44:57,920 --> 00:45:00,799
Speaker 2: are bad and they are trending work. As a matter

878
00:45:00,840 --> 00:45:04,520
Speaker 2: of fact, Republicans and this administration are roughly where Biden

879
00:45:04,719 --> 00:45:07,600
Speaker 2: was on the economy before the election last year. So

880
00:45:07,680 --> 00:45:10,560
Speaker 2: think about that, okay, and take that seriously and get

881
00:45:10,600 --> 00:45:13,000
Speaker 2: a sense of urgency. You're exactly correct that neither the

882
00:45:13,040 --> 00:45:16,880
Speaker 2: admin nor Republicans on Capitol Hill are selling the economic

883
00:45:16,920 --> 00:45:20,640
Speaker 2: message the way they should. They believe that once they

884
00:45:20,680 --> 00:45:22,960
Speaker 2: passed the big beautiful bill that they were done selling. No,

885
00:45:23,000 --> 00:45:25,640
Speaker 2: that's in many ways the start of the campaign, right,

886
00:45:25,880 --> 00:45:28,840
Speaker 2: and they should be promoting the wins on trade, the

887
00:45:28,880 --> 00:45:31,759
Speaker 2: wins on shoring the fact that wages are growing up,

888
00:45:31,840 --> 00:45:33,800
Speaker 2: going up. There is a lot of good news to tell,

889
00:45:34,040 --> 00:45:36,040
Speaker 2: but there's also really worrisome news. And I think you're

890
00:45:36,040 --> 00:45:39,640
Speaker 2: exactly right that article from Jeffrey Tucker, who's brilliant. He

891
00:45:39,719 --> 00:45:42,480
Speaker 2: points out, for example, that M two aggregate money supply

892
00:45:42,680 --> 00:45:44,960
Speaker 2: is now back near the highs of twenty twenty two,

893
00:45:45,200 --> 00:45:48,080
Speaker 2: when inflation was raging at its worst levels of the

894
00:45:48,120 --> 00:45:51,120
Speaker 2: Biden nomics fiasco. I point out in my article, you

895
00:45:51,200 --> 00:45:53,440
Speaker 2: right now have beef prices at all time highs. They

896
00:45:53,520 --> 00:45:55,880
Speaker 2: have set a new all time high in each of

897
00:45:55,880 --> 00:45:59,480
Speaker 2: the last six months, Chicken at all time highs, bananas

898
00:45:59,520 --> 00:46:00,320
Speaker 2: at all times.

899
00:46:00,360 --> 00:46:01,360
Speaker 3: When you look at the United.

900
00:46:01,160 --> 00:46:03,600
Speaker 2: States dollar, one of the reasons that that pain is

901
00:46:03,640 --> 00:46:06,120
Speaker 2: at the grocery store is a lot of American steve.

902
00:46:06,160 --> 00:46:09,040
Speaker 2: They don't realize that they are implicitly currency traders. They

903
00:46:09,040 --> 00:46:11,520
Speaker 2: may never watch currency markets, but you are buying these

904
00:46:11,520 --> 00:46:13,960
Speaker 2: good in dollars. And when you go into a Walmart,

905
00:46:14,080 --> 00:46:16,280
Speaker 2: the majority of the goods in there are from overseas,

906
00:46:16,320 --> 00:46:18,359
Speaker 2: which is a shame, but that's the reality right now.

907
00:46:18,440 --> 00:46:20,840
Speaker 2: So the value of the dollar is directly tied to

908
00:46:20,920 --> 00:46:24,200
Speaker 2: your buying power at Walmart or wherever you shop. And

909
00:46:24,200 --> 00:46:26,040
Speaker 2: when you look at the dollar to your currency, for

910
00:46:26,120 --> 00:46:28,359
Speaker 2: all the problems of Europe, to your currency has been

911
00:46:28,440 --> 00:46:32,319
Speaker 2: kicking the dollars ass all year, Gold well above three

912
00:46:32,320 --> 00:46:35,960
Speaker 2: thousand dollars an ounce, Bitcoin well above one hundred thousand,

913
00:46:36,040 --> 00:46:38,600
Speaker 2: just hit one hundred and eighteen thousand dollars per coin,

914
00:46:38,760 --> 00:46:41,520
Speaker 2: So the dollar is sliding demonstrably. So what I want

915
00:46:41,560 --> 00:46:44,120
Speaker 2: to see from Capitol Hill, and the administration is a

916
00:46:44,160 --> 00:46:47,560
Speaker 2: decided effort on messaging to start defending the dollar. By

917
00:46:47,560 --> 00:46:49,759
Speaker 2: the way, I think David Malpass is exactly correct to

918
00:46:49,800 --> 00:46:52,879
Speaker 2: start jawboning the dollar, because if the Fed lowers interest

919
00:46:52,960 --> 00:46:55,800
Speaker 2: rates and we don't have a concurrent strong dollar policy,

920
00:46:55,840 --> 00:46:59,359
Speaker 2: then the dollar is going to get absolutely rinsed from here.

921
00:46:59,400 --> 00:47:00,720
Speaker 3: And that is a very very real danger.

922
00:47:00,719 --> 00:47:04,040
Speaker 2: And in terms of a policy change, tangible policy change,

923
00:47:04,160 --> 00:47:07,520
Speaker 2: President Trump has floated these tariff rebate checks, Steve, that

924
00:47:07,680 --> 00:47:09,719
Speaker 2: needs to happen, and it needs to happen now and

925
00:47:09,800 --> 00:47:12,800
Speaker 2: make them a consequential amount only for middle class folks.

926
00:47:12,800 --> 00:47:16,640
Speaker 12: Okay, well, hang on, hang on, hang hang on a second,

927
00:47:16,719 --> 00:47:19,000
Speaker 12: hang on second. You're not a crazy man. You're very

928
00:47:19,040 --> 00:47:23,160
Speaker 12: You're very you know, you're always very safe. Parents. You

929
00:47:23,160 --> 00:47:23,920
Speaker 12: talked about the economy.

930
00:47:23,920 --> 00:47:26,160
Speaker 13: You are coming Empirically, last time I looked, we hit

931
00:47:26,200 --> 00:47:28,240
Speaker 13: thirty seven training in debt. We just hid thirty seven.

932
00:47:28,600 --> 00:47:30,640
Speaker 13: We've got we're gonna have a two training dollars deficit

933
00:47:30,719 --> 00:47:32,160
Speaker 13: by the time midnight strikes.

934
00:47:32,200 --> 00:47:35,800
Speaker 12: When it strikes for Cinderella at midnight on the thirtieth

935
00:47:36,320 --> 00:47:39,399
Speaker 12: two trallion dollars for this year, they're gonna jam us.

936
00:47:39,560 --> 00:47:41,600
Speaker 12: I'm telling you they're gonna jam us in the third

937
00:47:41,719 --> 00:47:45,680
Speaker 12: week of September. They're gonna jam us with an omnibus.

938
00:47:45,840 --> 00:47:48,799
Speaker 12: Is gonna have another two trallion dollar deficit. That's why

939
00:47:48,840 --> 00:47:51,520
Speaker 12: they kicked up the debt limit to five trillion dollars.

940
00:47:52,160 --> 00:47:54,440
Speaker 13: So how can we give rebate checks off the top

941
00:47:54,880 --> 00:47:56,560
Speaker 13: when we got to pay down that deficit.

942
00:47:56,920 --> 00:47:58,960
Speaker 12: Steve Cortez, give me thirty seconds. I'm a holding through

943
00:47:58,960 --> 00:48:00,680
Speaker 12: the break. What do you got sure you know?

944
00:48:00,800 --> 00:48:01,760
Speaker 3: I'll tell you two ways.

945
00:48:01,800 --> 00:48:04,239
Speaker 2: One is to cut defence, right, which we can and

946
00:48:04,280 --> 00:48:06,480
Speaker 2: should do if we're smarter about our defense budget and

947
00:48:06,480 --> 00:48:08,960
Speaker 2: not defending the world. And the second one related to

948
00:48:08,960 --> 00:48:12,040
Speaker 2: that is stop spending on Ukraine. Okay, But also, look,

949
00:48:12,080 --> 00:48:14,160
Speaker 2: I don't want to hear that Republicans on Capitol Hill

950
00:48:14,160 --> 00:48:16,879
Speaker 2: are going to suddenly get religion on the deficit after

951
00:48:16,920 --> 00:48:20,799
Speaker 2: they pass this gargantuan profligacy bill, right, I mean, don't

952
00:48:20,840 --> 00:48:22,920
Speaker 2: tell me now that you've got religion when we need

953
00:48:22,920 --> 00:48:25,800
Speaker 2: to deliver tangible benefits to middle class people. Middle class

954
00:48:25,800 --> 00:48:27,759
Speaker 2: people need to have a seat at the table in

955
00:48:27,800 --> 00:48:30,240
Speaker 2: trade negotiations. They need to have skin in the game

956
00:48:30,640 --> 00:48:33,360
Speaker 2: in these terrorists. They need to feel a financial benefit

957
00:48:33,640 --> 00:48:36,600
Speaker 2: from what President Trump is doing. And again I don't

958
00:48:36,600 --> 00:48:38,479
Speaker 2: want to hear that they suddenly have religion on debt.

959
00:48:39,840 --> 00:48:42,920
Speaker 12: Okay, hang on a second. We're going to go out

960
00:48:42,960 --> 00:48:47,920
Speaker 12: with the right stuff because that's what this show promotes.

961
00:48:49,320 --> 00:48:51,840
Speaker 12: Mike Lee's going to join us the great Constitutionalists in

962
00:48:51,880 --> 00:48:54,200
Speaker 12: the United States Center from Utah. Steve Cortez is going

963
00:48:54,280 --> 00:48:54,759
Speaker 12: to stick around.

964
00:48:54,760 --> 00:48:57,080
Speaker 13: We're going to talk about the Make America Healthy Again

965
00:48:57,239 --> 00:48:58,560
Speaker 13: in Brazil next