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Speaker 1: Broadcasting live from the Abraham Lincoln Radio Studio, the George

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Speaker 1: Washington Broadcast Center. Jack Armstrong and Joe Kaddy Armstrong and

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Speaker 1: Jackie and Pee Arms get it.

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Speaker 2: As he wrote in my favorite newsletter this morning, maybe

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Speaker 2: it was all a dreams.

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Speaker 1: Oh it's only that's funny. Live from Studio C Season.

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Speaker 2: You're a dimly lit room deep it from the bowels

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Speaker 2: of the Armstrong and Getty Communications Compound.

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Speaker 1: Hey y'all today Thursday? Is that right? Yeah?

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Speaker 2: Thursday, little Friday. We're under the tuteler of our general manager.

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Speaker 2: The pause, Yeah, the pause that refreshes. And since we

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Speaker 2: since we got up this morning, Europe has announced their

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Speaker 2: ninety day pause. So everybody's pausing except for with China,

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Speaker 2: which is what I think a lot of it has

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Speaker 2: been saying for a cottle. While the China thing I get.

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Speaker 2: Let's let's let's figure out how we're gonna decouple from China.

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Speaker 2: They're an s sworn enemy of this country.

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Speaker 3: Indeed, and we're intertwined with them in a way that

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Speaker 3: is utterly unsustainable.

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Speaker 1: So is Donald J. Behaving purely strategically.

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Speaker 3: With the China tariffs or is it a bit of

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Speaker 3: a urinating contest between him and Hijion Ping or half

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Speaker 3: and half hard to say.

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Speaker 1: I don't know.

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Speaker 2: Yeah, I watched The News Nation for the first time

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Speaker 2: this morning, first time I've tuned that in, even though

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Speaker 2: our boss Bill has been telling me for a very

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Speaker 2: long time, you should check out News Nation. Way it's

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Speaker 2: way closer to what your show is than anything else.

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Speaker 2: And I would say, is right. I noticed no obvious

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Speaker 2: how do we make this story worse for Trump? Or

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Speaker 2: how do we make this story better for Trump? Which

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Speaker 2: you do get from Fox or MSNBC, But so I

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Speaker 2: didn't notice that on News Nation. But anyway, I have

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Speaker 2: to add them.

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Speaker 1: To my rotation.

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Speaker 2: Yeah, yeah, I got a lot of really good interesting

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Speaker 2: information out of it. But great, I do think it's

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Speaker 2: interesting the the Trump Hateen world. For weeks now, it

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Speaker 2: has been how he's just so stubborn and ideological, and

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Speaker 2: he's been saying the same thing from the eighties, and

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Speaker 2: he would he will not accept reality and blah blah

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Speaker 2: blah blah blah. And then when he you know, uh,

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Speaker 2: gets to a point of like this is just doing

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Speaker 2: too much damage. I got to pull the plug. Then

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Speaker 2: it's he said he'd do this and now he's backing off. Well,

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Speaker 2: you just were criticizing him for being unwilling to back off,

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Speaker 2: and now you're criticizing for backing off. And I just

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Speaker 2: I don't quite understand. Now you couldn't you pass Trump

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Speaker 2: no matter what happens. What's there to understand? Well, you could, obviously,

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Speaker 2: you could make the comment that it was somewhat predictable

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Speaker 2: that the markets would go crazy, and since that was true,

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Speaker 2: you wouldn't You didn't need to do this in the

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Speaker 2: first place.

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Speaker 1: But that being said, I don't understand the it's one

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Speaker 1: or the other. You know you can't. It is kind

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Speaker 1: of funny.

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Speaker 3: It's the proverbial kicking your dog when he finally comes

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Speaker 3: to you. Right, Well, Jack, speaking of the whole tariffs

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Speaker 3: and the upheaval and the paws and the rest of it,

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Speaker 3: and this is exciting. Folks are going to be canceling appointments,

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Speaker 3: keeping their kids home from school during the show. Today,

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Speaker 3: we're going to explain the bond marketing to you. I

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Speaker 3: might be in the bath day with us. That might

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Speaker 3: be when I take my bathroom break the bond Everything

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Speaker 3: turns on the bond market.

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Speaker 1: That's quite possibly true, And in fact, if you won't

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Speaker 1: know it. You'll be adding in the bathroom.

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Speaker 2: I've made it this far in my life without knowing

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Speaker 2: anything about it, so if I can make it till

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Speaker 2: dead without knowing anything about it, then I'll be all right.

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Speaker 2: It's not like you're living under a bridge. Well, obviously,

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Speaker 2: I was thinking about the last however many days it's been,

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Speaker 2: and partially and I didn't ask my financial guy. He

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Speaker 2: sent me an email. I imagine he sent everybody emails

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Speaker 2: because everybody was freaking out there for a couple of days.

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Speaker 2: But I didn't change a dollar of my life based

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Speaker 2: on anything in the last week.

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Speaker 1: So no, really, no harm, no foul. I don't know.

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Speaker 3: I was kind of kicking myself because I didn't have

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Speaker 3: any real money in my little playing around investment account

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Speaker 3: because this was the classic dip to buy.

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Speaker 2: Yeah, but you didn't know it was going to come

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Speaker 2: back late. They could have been no, but I knew

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Speaker 2: it would come back eventually. He yeah, but he could

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Speaker 2: have held strong for nine months or who knew. Yeah,

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Speaker 2: That's why I think it's important to have, hey, just

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Speaker 2: you know, a play around. If this bet doesn't turn

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Speaker 2: out and for two years you got no money and

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Speaker 2: that's fine.

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Speaker 1: So well that one of the problems with this that.

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Speaker 3: Would have bet my my net worth on it, I

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Speaker 3: hear said, I wouldn't bet my house payment on it.

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Speaker 3: One of the problems with this whole thing is just,

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Speaker 3: you know, one guy, and this has been discussed a lot,

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Speaker 3: one guy having the ability to do this either direction.

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Speaker 3: And so, according to the Wall Street Journal, he tapped

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Speaker 3: out his post, his truth social post in the Oval

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Speaker 3: office at the desk with the Treasury Secretary sitting there

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Speaker 3: and the Commerce Secretary sitting there. Now, unfortunately this came

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Speaker 3: out like five minutes after we said goodbye, everybody, see

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Speaker 3: you tomorrow. I wish it would have happen while we

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Speaker 3: were on the air, because the markets reacted instantly, and

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Speaker 3: it was the biggest rise in the Nasdaq as a

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Speaker 3: percentage since the dot com bust, which is what late

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Speaker 3: nineties I mean that is that is amazing year two

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Speaker 3: thousand whatever it was. Yeah, we've had some you know,

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Speaker 3: pretty major ups and downs nine to eleven, the financial crash,

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Speaker 3: lots of different things and that amount of time.

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Speaker 1: So it was a big deal. I wish it would

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Speaker 1: have happened while we were on the air. But so

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Speaker 1: he taps out his little truth social it says, that's it.

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Speaker 1: People are getting the yips.

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Speaker 2: I'm gonna pause nine days stock market skyrocks. Obviously if

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Speaker 2: you had had that information that I'm I don't think

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Speaker 2: this is true, skinny neck?

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Speaker 1: What's his almost used a bad word? Go ahead, do it,

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Speaker 1: Adam Schiff.

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Speaker 2: Adam Schiff, I can't believe he's my US Senator Adam Schiff.

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Speaker 2: Show he wants in an immediate investigation for insider trading.

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Speaker 2: I don't think that's what Trump was up to, but it.

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Speaker 1: Sure would be easy.

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Speaker 2: It sure would have been easy to tell anybody, Hey, tomorrow, tomorrow,

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Speaker 2: tomorrow morning, about ten, I'm gonna pull the plug on

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Speaker 2: this thing.

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Speaker 1: So I mean, Chris, call.

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Speaker 3: Him up and say bye and hang up by the nip. Yeah,

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Speaker 3: no too much, No, don't blow the horn, just say by.

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Speaker 1: A much more spy moves, don't be shut by.

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Speaker 2: The shot, shoot a confetti cannon out to the top

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Speaker 2: of the White House and say I don't know what

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Speaker 2: that was.

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Speaker 1: Oh no, sh not subtle laugh.

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Speaker 2: But you gotta admit, with one guy making that decision

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Speaker 2: to make the stock market go up the most in

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Speaker 2: thirty years, I mean that a ton of money could

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Speaker 2: have been made if you knew at all what was

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Speaker 2: going gonna happen.

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Speaker 1: Sorry, I am so sorry. I got to take this call. Hello.

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Speaker 3: Uh huh really, uh huh okay, thanks by That was

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Speaker 3: Nancy Pelosi. She said she's been doing this for fifty years.

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Speaker 2: I think they all do it all the time, but man,

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Speaker 2: not on this grand scale. I mean, this was the

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Speaker 2: all time five hundred pound gorilla of this sort of thing.

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Speaker 2: If anybody has tipped off, and I don't think they were,

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Speaker 2: but uh yeah, it's uh, it's it's something they are

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Speaker 2: our secrety. Keep to yourself, you know, a whole bunch

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Speaker 2: of rich guys with a lot of stock. By the way,

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Speaker 2: I ain't saying nothing, ain't something, just uh just a

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Speaker 2: little hint, uh Wednesday morning. I ain't say any else.

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Speaker 1: No horn, no horn, shit the horns of it.

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Speaker 3: So if you're a fan of power and influence and

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Speaker 3: who's got what sway in any White house, I think

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Speaker 3: it's it's super interesting that Scott has sent the Treasury

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Speaker 3: guy is clearly the voice that Trump is listening to

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Speaker 3: through the tumult less than a couple of other folks.

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Speaker 3: He is kind of the voice of let's not do

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Speaker 3: too much damage, common sense down to earth, and he's

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Speaker 3: willing to speak truth to Trump and then spin the

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Speaker 3: hell out of it on the South of Honor wherever

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Speaker 3: you're speaking yesterday. But he definitely has huge influence. And

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Speaker 3: I feel the need to point out because you will

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Speaker 3: never ever hear this pointed out in mainstream media.

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Speaker 1: He happens to be a gay fella.

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Speaker 3: You know, we Conservatives and Republicans with our hatred and

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Speaker 3: abuse of anybody who's gay. No, no, we just liked

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Speaker 3: the most competent person for the job in the job.

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Speaker 1: Perry, the Secretary of the Treasury, lays down with other men.

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Speaker 3: Oh, there's no need to put too fine a point

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Speaker 3: on it. We all know what that expression means.

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Speaker 1: Good lord, all right, No, I didn't know that. And

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Speaker 1: who cares? Who cares? Uh? Yeah?

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Speaker 2: Mark Halpern and his newsletter today, say said one the

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Speaker 2: powerbroker in that whole thing was Scott Bessen. Yeah, the

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Speaker 2: Treasury secretary. So let's start the show officially. I'm Jack Armstrong.

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Speaker 2: He's Joe Getty on this. It is Thursday, April tenth.

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Speaker 2: Hear twenty twenty five for Armstrong. You getting and we

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Speaker 2: approve of this program.

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Speaker 3: Uh yeah, boy, the Master's kicks off today. Here we go,

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Speaker 3: let's begin the show officially according to the FCC rules

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Speaker 3: and REGs at Mark.

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Speaker 4: Well, I thought that people were jumping a little bit

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Speaker 4: out of line. They were getting yippie, you know, they

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Speaker 4: were getting a little bit yippy, a little bit afraid,

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Speaker 4: unlike these champions, because we have a big job to do.

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Speaker 1: No other president would have done to what I did.

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Speaker 4: No other president I know the president, they wouldn't have

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Speaker 4: done it, and it had to be done.

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Speaker 1: Except perhaps the late great Abrahamlets.

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Speaker 2: As usual, it was hilarious that his people came out

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Speaker 2: and said this was the plan all along. Then Trump

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Speaker 2: comes out and says, now, I'm watching TV last night

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Speaker 2: and I think the bond market was going crazy.

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Speaker 1: So I pulled the plug. Were getting yip? Why did you?

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Speaker 2: Why did you make me go out and say it

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Speaker 2: was the plan all along? Or they thought that's what

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Speaker 2: they should do. One of the great risks is speaking

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Speaker 2: for Trump. From the first moment of term number one

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Speaker 2: till today, I thought the plan was oh never mind.

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Speaker 1: Maybe it was all a dream.

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Speaker 2: We were talking of yesterday about how it could he

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Speaker 2: could pull the plug at any moment, and then we'll

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Speaker 2: look back, you know, on it in six months and thinks, oh, yeah,

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Speaker 2: I remember that happened.

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Speaker 1: It might end that whole tariff thing might be like that. Yeah.

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Speaker 3: Although the China, again, as we've been saying from the

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Speaker 3: very beginfference story, China is an entirely different subject.

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Speaker 2: I would say an on News Nation this morning that

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Speaker 2: I was watching, they did a feature on this new

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Speaker 2: nuclear weapon we've got. That's more about our ability to

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Speaker 2: deliver it, but it's mostly about keeping up with China specifically,

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Speaker 2: and also Russia in their aggressive increasing the strength of

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Speaker 2: their nuclear arsenal.

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Speaker 1: So they're calling it a new nuclear arms race.

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Speaker 2: Oh boy, now that's some serious stuff. We got Katie's

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Speaker 2: headlines on the way and more news of the day.

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Speaker 2: I hope you can stick around. Text line is four

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Speaker 2: one five two nine five Kftcarrong a new image out

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Speaker 2: of what our closest monkey an sister looked like, and

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Speaker 2: it's very human.

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Speaker 1: I'll talk about that letter to love evolution stuff.

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Speaker 2: Also speaking of images, based on our One More Thing

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Speaker 2: podcast yesterday, Katie sent me you must have How did

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Speaker 2: you get him to me so fast?

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Speaker 1: Like within an hour? Amazon.

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Speaker 2: I got in the mail some chicken leg socks and

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Speaker 2: I took pictures of him on my life les and

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Speaker 2: posted it at Twitter. This is an attempt to drive

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Speaker 2: up our Twitter numbers or drive them down. Maybe more

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Speaker 2: people left. Yeah, then we are serious. Yes, and somebody

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Speaker 2: said you have rickets, dude, get some vitamins.

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Speaker 1: Wow. Yeah, mix in an orange or two. Huh. Anyway,

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Speaker 1: more on that later. Let's figure out who's reporting what.

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Speaker 1: It's the lead story with Katie Green Katie Well.

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Speaker 5: Starting with CNN, Inflation drops to two point four percent,

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Speaker 5: lower than expectations.

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Speaker 1: Of two point five percent. There you go, good inflation news.

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Speaker 1: The day after the stark market has a giant rise. Huh,

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Speaker 1: we're back. Everything's coming up, Trump, I'm back.

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Speaker 5: Maybe from Fox News, Doge reveals bizarre findings of unemployment

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Speaker 5: insurance claims.

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Speaker 1: Quote this is crazy. I'm sure. Oh, I have no doubt.

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Speaker 3: Any system that involves government payouts is got billions and

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Speaker 3: billions and billions of dollars. With the old WAA Waste

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Speaker 3: Fraud and Abuse Guarantee.

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Speaker 5: Nine point seven thousand people with birth rates are birth

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Speaker 5: dates over fifteen years.

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Speaker 1: In the future. That's sixty nine million dollars. Wow.

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Speaker 5: From the AP freed Israeli hostages, thank Trump for efforts

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Speaker 5: to get the Hamas hostages released.

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Speaker 2: Oh I got it, well, Russia, I got a little tidbit.

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Speaker 2: Maybe after your headlines we have time on eight three

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Speaker 2: dimensional chess theory around Doge stay tune.

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Speaker 5: From the Daily Mail update after brave female fencer took

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Speaker 5: me and refused to fight against transgender rival, she has

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Speaker 5: left her team completely.

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Speaker 3: I want to know that woman's name. I want to

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Speaker 3: know it like I know Riley Gaines. I think she

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Speaker 3: should be hailed as the hero that she is.

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Speaker 5: From CNBC The Rise of AI generated prof By twenty

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Speaker 5: twenty eight, globally, one in four job candidates will be fake.

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Speaker 1: What's the benefit of that.

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Speaker 5: They're just saying that these job seekers are using AI

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Speaker 5: tools to make fake identities, fake IDs, make resumes and

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Speaker 5: lying about.

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Speaker 2: Their You can't actually come in work, though, So what's

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Speaker 2: what are you foltimate goal?

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Speaker 5: They're doing this for remote hiring jobs.

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Speaker 3: Oh yeah, a lot of engineering tech jobs are remote hiring,

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Speaker 3: and these guys have figured out I can hold three

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Speaker 3: jobs and do the minimum work for each of them

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Speaker 3: and get a triple salary.

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Speaker 1: I wish I was smart enough to do it. I'd

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Speaker 1: do it today. Rarely hold one job from the La Times.

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Speaker 5: Wife of Weezer bassist is shot by LAPD during a

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Speaker 5: hit and run manhunt and accused of attempted murder.

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Speaker 1: I watched this yesterday's nut.

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Speaker 3: What a crazy story. Oh yeah, I need to know more.

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Speaker 3: I'm flabbergasted. There's a lots around them.

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Speaker 5: The LAPD was in per suit of a totally unrelated

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Speaker 5: incident for a hit and run, and they drove by

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Speaker 5: the house and the wife of the Weezer bassist was

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Speaker 5: out there waving a handgun at the cops, and so

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Speaker 5: they had to handle her and they ended up shooting

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Speaker 5: her on the shoulder. And now she's being charged with

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Speaker 5: the tempted murder.

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Speaker 1: Wow.

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Speaker 2: She she would not put down the gun, then pointed

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Speaker 2: at the cops. They shot her, and then amazingly she's alive.

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Speaker 1: And that's a.

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Speaker 2: Little what are they What are you trying to do

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Speaker 2: when when someone's pointing a gun at you, I would

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Speaker 2: think your goal is to take them out, take them out.

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Speaker 2: And there was a bunch of cops there. She's like,

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Speaker 2: I'm wounded, but I'm fine.

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Speaker 3: Yeah, often, yeah, the result is quit an impressive number

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Speaker 3: of bullet woes. Yeah, I expect more from the wife

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Speaker 3: of the bassist of Weezer.

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Speaker 5: From the New York Post, Australian surgeon fined ten thousand

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Speaker 5: dollars for sharing a picture of a coma patients swastika

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Speaker 5: tattooed Pennis.

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Speaker 2: Oh wow, I can see how it'd be hard to

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Speaker 2: not share that with the buddies.

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Speaker 3: Speaking of stories with a lot going on, look at this,

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Speaker 3: how would.

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Speaker 1: You not share that? Nazi Germany? From The Free Beacon.

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Speaker 5: Members of Congress agree Jerry Nadler is the capital's worst

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Speaker 5: smelling man.

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Speaker 1: What, Yes, I have that story? Really a story? Yes,

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Speaker 1: an aggressive scent, it's a real story. Yes. Yeah.

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Speaker 3: He is the big old weavil of a fat progressive

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Speaker 3: who's known first fill in his drawers, Jack, disgusting me this.

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Speaker 5: And finally, the Babylon Bee analysts clarify that Trump is

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Speaker 5: only responsible for the stock market.

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Speaker 1: When it goes down.

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Speaker 5: Yeah, exactly, And Joe just de side note that that

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Speaker 5: defencer's name is Stephanie Turner.

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Speaker 3: Stephanie Turner, God bless you dear for your courage.

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Speaker 2: Yeah, the you remember Lucy, one of the oldest skeletons

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Speaker 2: of like a human that have ever. They've got a

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Speaker 2: new computer mock up of what it looked.

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Speaker 1: Like, and it is. It's pretty interesting to see you.

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Speaker 1: I'll talk about that later. Love that story. Did did

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Speaker 1: Lucy go with Nathan? Pronouns?

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Speaker 2: Well, since I don't know, I'm not going to assign

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Speaker 2: a gender, don't misgender.

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Speaker 1: The monkey guard strong, and.

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Speaker 6: The President announces he's putting a ninety day pause on

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Speaker 6: most of his terrafs after Wall Street lost nearly six

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Speaker 6: trillion dollars in one week. There is one exception. He

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Speaker 6: is upping the ante on China. Is there any strategy here?

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Speaker 6: Is this any way to run a global economy?

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Speaker 1: Well?

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Speaker 4: I thought that people were jumping a little bit out

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Speaker 4: of line. They were getting yippie, you know, they were

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Speaker 4: getting a little bit yippy, a little bit afraid, unlike

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Speaker 4: these champions, because we have a big job to do.

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Speaker 4: No other president would have done what I did. No

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Speaker 4: other president I know the presidents, they wouldn't.

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Speaker 1: Have done it. And it had to be done. Did

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Speaker 1: it have to be done? I don't know. You could

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Speaker 1: have slept through this whole thing. I'm not sure it would.

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Speaker 2: Have changed your life any at this point if you

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Speaker 2: had ignored it. Rich Lowry of National Review tweeted out yesterday,

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Speaker 2: you know, the easier way to enter into trade negotiations

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Speaker 2: with our major allies and tariff China would have been

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Speaker 2: to enter into trade negotiations with our major allies in

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Speaker 2: tariff China. Maybe he feels he got some leverage out

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Speaker 2: of this or not.

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Speaker 1: I don't know. Others will decide that.

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Speaker 3: Well, And the probably unanswerable question continues, although I suppose

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Speaker 3: the books will come out to the extent that you

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Speaker 3: trust them someday. But the question continues to be does

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Speaker 3: Trump have a strategy? Is this a coherent set of

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Speaker 3: maneuvers or is he just going moment to moment trust

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Speaker 3: in his guts and then reverses.

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Speaker 1: Field willingly that one.

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Speaker 2: Oh okay, I think, But I mean it's worked for

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Speaker 2: him his whole life, So I can understand why. You know,

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Speaker 2: if you're a successful financial person and her headed number

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Speaker 2: one TV show, you're a billionaire and you elected president

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Speaker 2: twice nearly three times, Yeah, I can see how you

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Speaker 2: trust your gun.

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Speaker 1: Yeah I would too.

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Speaker 3: It's not completely you know, out of left field. On

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Speaker 3: the other hand, pride goeth before the fall and almost

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Speaker 3: has so anyway, So is it all's well that ends well?

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Speaker 3: Is it no harm?

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Speaker 1: No foul? Is it? Where are we? Has there been

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Speaker 1: no harm?

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Speaker 3: That's the question a lot of people are asking in

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Speaker 3: terms of our allies, the world's perception of the United

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Speaker 3: States as the safest, best place to put their money always,

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Speaker 3: has that been hurt?

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Speaker 2: Tom Friedman says yes in The New York Times. Course

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Speaker 2: he does. But he says that our allies in Europe

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Speaker 2: will never trust us again, and they'll see China as

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Speaker 2: a more steady, predictable partner.

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Speaker 3: Okay, I you know, so many years ago I read

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Speaker 3: so many things from Tom Friedman of the that I

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Speaker 3: thought were fantastic. Honestly, I don't want his opinion on

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Speaker 3: anything other than what's the best Chinese food?

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Speaker 1: Close to Times Square? At this point, I.

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Speaker 2: Think, I mean, in terms of the world splitting between

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Speaker 2: US and China, which is what's happening. I still think

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Speaker 2: people are going to go with the United States because

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Speaker 2: China is They're all They want to take you over.

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Speaker 1: They don't want to be your business partner.

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Speaker 3: Yes, they have a way of making you truly regret

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Speaker 3: your partnerships through the years.

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Speaker 1: So a glimpse behind the scenes.

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Speaker 3: I was dealing with a bit of a domestic crisis

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Speaker 3: during the commercial break, and so we didn't really get.

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Speaker 1: A chance to chat.

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Speaker 3: Playing the Charlie Gasparino stuff seems apropos right now, How

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Speaker 3: do you feel about that?

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Speaker 1: Yeah?

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Speaker 3: He was on Fox News just after the pause was announced.

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Speaker 1: Moments later.

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Speaker 3: Yeah, the aforementioned Scott Bessen to and others came out

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Speaker 3: and said this was the plan all along. This president

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Speaker 3: negotiates like no other. And then Trump came out and

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Speaker 3: he said, yeah, I saw people freaking out, so we

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Speaker 3: changed our minds. Of course, people are like, thanks for that,

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Speaker 3: but it happens. I found this instructive. Perhaps you will too.

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Speaker 3: Let's start with clip sixty Michael and just go from there.

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Speaker 3: Charlie Gasprino yesterday.

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Speaker 7: I want to tell you right now that Donald Trump

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Speaker 7: out smarted the world. Trust me, I'm an American. I

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Speaker 7: support my president. But that's not really what happened here

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Speaker 7: from what I understand, and I know I'll get pushed back,

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Speaker 7: but here's what it is. First off, we should point

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Speaker 7: out that one of the good things about this is

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Speaker 7: that Scott Bessen is finally in the White House. He's

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Speaker 7: finally leading this. I mean, up until a couple of

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Speaker 7: days ago, it was Lutnick, it was Peter Navarro, the Commerce.

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Speaker 1: Secretary, the trade advisor, very much hawks.

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Speaker 7: Now it's Scott Besson, who believes in cutting deals as

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Speaker 7: opposed to you know, not, you know, just putting these

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Speaker 7: tariffs out there. And let's be amercantilistic economy.

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Speaker 1: All right, to see this set to the substance.

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Speaker 7: But number two, let's recall what happened overnight. And from

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Speaker 7: what I understand, and I'm getting this from people that

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Speaker 7: are talking to the house, what happened in the bond

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Speaker 7: market overnight, the spike in yields on the thirty year

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Speaker 7: and the ten year bond, which showed that people were

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Speaker 7: dumping our bonds. And who are those people dumping our bonds? Japan,

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Speaker 7: the biggest holder of bonds, was selling bonds. That's what

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Speaker 7: I'm getting from some very big money managers. China maybe

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Speaker 7: to some extent, but it was largely Japan and others.

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Speaker 7: If you have a mass sale of bonds, that means

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Speaker 7: people are losing confidence in the US economy on the

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Speaker 7: ability to do deals with US. And from what I understand,

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Speaker 7: this is what forced the hand of this ninety day reprieve.

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Speaker 2: And apparently apparently Trump didn't think that was going to happen,

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Speaker 2: or not as much as it was happening.

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Speaker 1: Yeah.

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Speaker 3: In other words, since we spend way more than we

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Speaker 3: take in, and it's good to have cash flow, even

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Speaker 3: if you're being smarter than we've been as a country.

441
00:22:56,000 --> 00:22:57,879
Speaker 3: It's nice to be able to say, hey, would you

442
00:22:58,000 --> 00:23:00,919
Speaker 3: like some of our bonds to invest your money?

443
00:23:01,040 --> 00:23:02,679
Speaker 1: We'll pay you three and a half percent.

444
00:23:03,400 --> 00:23:06,679
Speaker 3: And at some point, like overnight, they start saying, we

445
00:23:06,720 --> 00:23:09,320
Speaker 3: don't want your stinking bonds at three and a half percent,

446
00:23:09,800 --> 00:23:10,800
Speaker 3: Well would you take him at.

447
00:23:10,760 --> 00:23:12,600
Speaker 1: Four and a half, How about five and a half.

448
00:23:12,640 --> 00:23:15,840
Speaker 3: And all of a sudden, our borrowing costs are skyrocketing.

449
00:23:16,000 --> 00:23:17,879
Speaker 3: And I don't know if you're familiar with this, we

450
00:23:18,000 --> 00:23:22,119
Speaker 3: run hillacious debts in this country. We overspend like coke

451
00:23:22,320 --> 00:23:26,199
Speaker 3: binged and binging sailors. Anyway, So that's part of the panic.

452
00:23:27,200 --> 00:23:29,920
Speaker 3: A little more from mister Gasparino, you know, are.

453
00:23:29,840 --> 00:23:32,239
Speaker 7: People coming to the table. Yeah, but if you know,

454
00:23:32,320 --> 00:23:34,320
Speaker 7: if you read me between the lines or not, even

455
00:23:34,520 --> 00:23:38,240
Speaker 7: what Scott Bessen said, we have no deals, right, there's

456
00:23:38,320 --> 00:23:42,120
Speaker 7: nobody that is really there saying this is what we're

457
00:23:42,119 --> 00:23:45,199
Speaker 7: going to do, and they paused it anyway, So my

458
00:23:45,359 --> 00:23:48,000
Speaker 7: thing that said, well, i'll give you this, there is

459
00:23:48,040 --> 00:23:49,680
Speaker 7: some art of the deal here, and by the way,

460
00:23:49,760 --> 00:23:52,000
Speaker 7: brilliant move by putting China in the corner.

461
00:23:52,280 --> 00:23:53,840
Speaker 1: But that's a whole separate.

462
00:23:53,480 --> 00:23:56,040
Speaker 7: Thing because remember that's a very difficult negotiation.

463
00:23:56,520 --> 00:23:58,320
Speaker 1: Everybody else is a lot easier.

464
00:23:58,520 --> 00:24:00,720
Speaker 7: They really wanted to, they do want to deal with us,

465
00:24:00,960 --> 00:24:04,840
Speaker 7: whether they want to be forced into really bad trade

466
00:24:04,840 --> 00:24:07,240
Speaker 7: deals on their end as a whole other negotiating story.

467
00:24:07,359 --> 00:24:09,960
Speaker 2: Yeah, we haven't mentioned that. Along with the pause of

468
00:24:10,000 --> 00:24:12,560
Speaker 2: everyone else. He upped the tear off some China to

469
00:24:12,600 --> 00:24:15,600
Speaker 2: what now one hundred and twenty percent, So what it is?

470
00:24:15,640 --> 00:24:17,439
Speaker 1: It might be more. In the last ten minutes.

471
00:24:17,480 --> 00:24:21,080
Speaker 3: Everybody's ratcheting it up, and so everybody Trump and Chesion pick.

472
00:24:21,160 --> 00:24:22,280
Speaker 1: Both of those things happen.

473
00:24:23,080 --> 00:24:26,360
Speaker 3: But Jack, how would you describe the bond market now

474
00:24:26,359 --> 00:24:27,840
Speaker 3: it underpins the economy?

475
00:24:28,000 --> 00:24:31,040
Speaker 1: I wouldn't. Would you say it's the plumbing of the economy,

476
00:24:31,080 --> 00:24:32,040
Speaker 1: That's what I would say.

477
00:24:33,200 --> 00:24:36,000
Speaker 7: But make no mistake about it, you cannot divorce this

478
00:24:36,119 --> 00:24:39,520
Speaker 7: decision right here from what happened last night, which was

479
00:24:39,760 --> 00:24:42,760
Speaker 7: you know I and people focus on the stock market

480
00:24:42,800 --> 00:24:45,160
Speaker 7: all the time. It's the bond market and the sort

481
00:24:45,160 --> 00:24:48,880
Speaker 7: of lending markets that's the plumbing of the economy. And

482
00:24:49,280 --> 00:24:53,080
Speaker 7: those markets were imploding last night. And that's why we

483
00:24:53,160 --> 00:24:57,840
Speaker 7: have a ninety day freeze. Let's see if those markets improve.

484
00:24:57,880 --> 00:24:59,800
Speaker 7: I've someone told me we had a decent treasury wash

485
00:25:00,000 --> 00:25:03,320
Speaker 7: oction today. But if you can't sell your treasures, guys,

486
00:25:03,920 --> 00:25:06,399
Speaker 7: and people are unloading your treasures, like Japan, which is

487
00:25:06,440 --> 00:25:09,440
Speaker 7: I believe the largest foreign holder after China.

488
00:25:09,640 --> 00:25:11,240
Speaker 1: Just to be clear, there was an option that.

489
00:25:11,280 --> 00:25:14,800
Speaker 2: Just so, the bond market is the plumbing of the economy,

490
00:25:14,840 --> 00:25:17,080
Speaker 2: and it was imploding. And I can tell you, if

491
00:25:17,080 --> 00:25:19,320
Speaker 2: you're plumbing implodes, you're going to have to call into

492
00:25:19,400 --> 00:25:20,720
Speaker 2: work and say I'm not going to be.

493
00:25:20,720 --> 00:25:24,080
Speaker 3: There today, call service master. Yeah it's terrible. It's oh,

494
00:25:24,119 --> 00:25:28,800
Speaker 3: it's so gross. So Charlie Gasparino there, I have no

495
00:25:29,080 --> 00:25:33,280
Speaker 3: reason to doubt his explanation. I have come across no

496
00:25:33,600 --> 00:25:35,680
Speaker 3: serious contradiction to his exploits.

497
00:25:35,840 --> 00:25:40,560
Speaker 2: I think it's fascinating that there was some metric that

498
00:25:41,359 --> 00:25:44,879
Speaker 2: was enough to make Trump say, now this isn't working

499
00:25:45,119 --> 00:25:45,720
Speaker 2: or going to work.

500
00:25:46,440 --> 00:25:48,080
Speaker 1: Yeah, And I don't know if he.

501
00:25:50,320 --> 00:25:53,320
Speaker 2: So, He famously, as everybody has been talking about for

502
00:25:53,560 --> 00:25:57,000
Speaker 2: a week now, has been saying this since you know,

503
00:25:57,119 --> 00:26:01,200
Speaker 2: the eighties on Oprah Winfrey Show, that we're getting ripped

504
00:26:01,200 --> 00:26:04,080
Speaker 2: off and kneed teriff, Yeah, and you got so. Does

505
00:26:04,119 --> 00:26:09,240
Speaker 2: he still believe that? Does he believe that his that's

506
00:26:09,280 --> 00:26:12,399
Speaker 2: still true, but his cure for it doesn't work for.

507
00:26:12,280 --> 00:26:14,159
Speaker 1: Whatever reason, I want, I wonder where he is on

508
00:26:14,200 --> 00:26:14,479
Speaker 1: all that.

509
00:26:15,600 --> 00:26:17,640
Speaker 3: Yeah, I mean, and this is the sort of thing

510
00:26:17,680 --> 00:26:20,520
Speaker 3: that might freak out new listeners who think every radio

511
00:26:20,520 --> 00:26:22,920
Speaker 3: show ought to be one hundred percent pro Trump or

512
00:26:22,920 --> 00:26:25,800
Speaker 3: one hundred percent anti Trump. We calls him as we

513
00:26:25,840 --> 00:26:30,800
Speaker 3: see them. But I think a Trump is very adaptable.

514
00:26:31,280 --> 00:26:33,480
Speaker 3: He is more than willing to say that didn't work,

515
00:26:33,480 --> 00:26:36,119
Speaker 3: We're going to try this. He does not cling to

516
00:26:36,480 --> 00:26:39,760
Speaker 3: ideas that do not serve him. You know, he's a

517
00:26:39,800 --> 00:26:43,200
Speaker 3: little parapatetic and mercurial for my taste. And I think

518
00:26:43,240 --> 00:26:45,800
Speaker 3: some of the stuff he's pulling may damage our standing

519
00:26:45,800 --> 00:26:48,600
Speaker 3: in the world over the long term. Having said that

520
00:26:48,680 --> 00:26:51,719
Speaker 3: critical stuff, I think trade wise, this could end up

521
00:26:51,720 --> 00:26:56,800
Speaker 3: in a very very good place with reasonable trade barriers,

522
00:26:57,359 --> 00:27:00,600
Speaker 3: if any, with our friends and allies and non enemies

523
00:27:01,080 --> 00:27:04,320
Speaker 3: in a way that was way way overdoing happening. On

524
00:27:04,359 --> 00:27:06,240
Speaker 3: the other hand, he never counts when he talks about

525
00:27:06,240 --> 00:27:08,560
Speaker 3: trade surpluses and deficits.

526
00:27:08,000 --> 00:27:09,639
Speaker 1: And he never counts services.

527
00:27:10,560 --> 00:27:14,199
Speaker 3: And I understand the allure of manufacturing and making our

528
00:27:14,200 --> 00:27:16,760
Speaker 3: own stuff and being self reliant on critical industries, but

529
00:27:17,080 --> 00:27:21,679
Speaker 3: I mean we export. We have an enormous trade imbalance

530
00:27:21,720 --> 00:27:28,480
Speaker 3: in our favor, a surplus for services, banking, entertainments, financial advice,

531
00:27:28,560 --> 00:27:33,800
Speaker 3: to the thousand different things. So to the three dimensional

532
00:27:33,920 --> 00:27:37,720
Speaker 3: chess teck, I'm sorry the obvious tech. Yes, three dimensional chests.

533
00:27:37,880 --> 00:27:41,840
Speaker 2: So I remember asking Bill O'Reilly this question back when

534
00:27:41,840 --> 00:27:45,080
Speaker 2: Bill O'Reilly was the number one show cable show in

535
00:27:45,119 --> 00:27:50,600
Speaker 2: America ten years ago, twenty fifteen, when Trump was running

536
00:27:51,800 --> 00:27:54,919
Speaker 2: is this three dimensional chess? Or is he just winging it?

537
00:27:54,960 --> 00:27:59,120
Speaker 2: And I remember Bill O'Reilly saying it's not three dimensional chess.

538
00:28:00,040 --> 00:28:03,240
Speaker 2: I think that is generally the case with Trump. But

539
00:28:03,320 --> 00:28:07,040
Speaker 2: I do wonder about this one. Maybe around Doge more

540
00:28:07,080 --> 00:28:09,640
Speaker 2: than the tariffs, because he's been talking about the tariffs thing,

541
00:28:09,840 --> 00:28:12,840
Speaker 2: you know, for for forty years, as we mentioned, But

542
00:28:12,920 --> 00:28:16,440
Speaker 2: maybe around the Doge thing getting so much attention. What

543
00:28:16,560 --> 00:28:20,800
Speaker 2: was everybody saying leading up to the election, including us.

544
00:28:21,400 --> 00:28:25,399
Speaker 2: The number one political story of twenty twenty five is

545
00:28:25,440 --> 00:28:27,560
Speaker 2: going to be the Trump tax cuts. That's going to

546
00:28:27,640 --> 00:28:31,840
Speaker 2: be all everybody's talking about. And nobody's talking about it,

547
00:28:31,920 --> 00:28:34,160
Speaker 2: and they're working on it behind the scenes. And there's

548
00:28:34,160 --> 00:28:36,080
Speaker 2: a bill last night that didn't happen, but they're working

549
00:28:36,119 --> 00:28:38,240
Speaker 2: on it constantly behind the scenes, and.

550
00:28:38,160 --> 00:28:39,520
Speaker 1: Nobody's talking about it.

551
00:28:39,920 --> 00:28:43,040
Speaker 2: And I mean, Trump is you know, a TV producer,

552
00:28:43,080 --> 00:28:47,200
Speaker 2: guy who understands the media and how they flock towards stories.

553
00:28:47,440 --> 00:28:49,480
Speaker 2: And I just wonder if some of this stuff might

554
00:28:49,520 --> 00:28:52,360
Speaker 2: be I'm going to get the biggest that tax cut redone,

555
00:28:53,160 --> 00:28:55,280
Speaker 2: and that is going to set the economy in place

556
00:28:55,320 --> 00:28:56,920
Speaker 2: the way I want it the rest of my term.

557
00:28:57,600 --> 00:29:01,479
Speaker 2: And that is the whole enchilada, and nobody's talking about it.

558
00:29:01,920 --> 00:29:05,000
Speaker 3: I do enjoy a good enchilada. Perhaps that is the case.

559
00:29:05,040 --> 00:29:07,760
Speaker 3: We'll we'll all find out together from our friends that

560
00:29:07,880 --> 00:29:11,760
Speaker 3: simply save home security. It's a chaotic, scary world, and

561
00:29:11,760 --> 00:29:14,360
Speaker 3: we're not talking about trade negotiations. Too many junkies, too

562
00:29:14,360 --> 00:29:17,240
Speaker 3: many scumbags on the streets, too many policies.

563
00:29:16,720 --> 00:29:18,280
Speaker 1: That have made crime too easy.

564
00:29:18,440 --> 00:29:21,840
Speaker 3: But with simply save millions of Americans enjoy greater security

565
00:29:21,840 --> 00:29:24,320
Speaker 3: and peace of mind every time they arm their system.

566
00:29:24,440 --> 00:29:28,360
Speaker 2: I love the outdoor out hm, I love the active

567
00:29:29,000 --> 00:29:30,480
Speaker 2: m mmm.

568
00:29:32,160 --> 00:29:34,720
Speaker 3: I'll get to get the spoon from mister Armstrong's tongue

569
00:29:34,880 --> 00:29:35,320
Speaker 3: right out.

570
00:29:35,400 --> 00:29:37,840
Speaker 2: They got this thing with cameras in your yard and

571
00:29:37,880 --> 00:29:39,880
Speaker 2: around the house, and there you can catch skip it.

572
00:29:39,960 --> 00:29:40,600
Speaker 1: Yeah, I'll skip it.

573
00:29:40,640 --> 00:29:43,040
Speaker 2: They can catch bad people before they break into your home,

574
00:29:43,080 --> 00:29:46,200
Speaker 2: which is really really cool. They use AI and also

575
00:29:46,280 --> 00:29:47,640
Speaker 2: professional monitoring agents.

576
00:29:47,680 --> 00:29:48,880
Speaker 1: It's about a dollar a day.

577
00:29:48,720 --> 00:29:50,640
Speaker 2: With no long term contract, which is a main Wait

578
00:29:50,680 --> 00:29:53,320
Speaker 2: a minute, something that advanced and unpronounceable.

579
00:29:53,400 --> 00:29:56,000
Speaker 1: Is just a dollar a day. That's way less than

580
00:29:56,000 --> 00:29:57,440
Speaker 1: my old crappy system.

581
00:29:57,520 --> 00:30:00,480
Speaker 3: That's right, friends, no long term contracts or canceling fees,

582
00:30:00,520 --> 00:30:03,440
Speaker 3: sixty day satisfaction guaranteeing. Right now, if you visit simply

583
00:30:03,520 --> 00:30:06,240
Speaker 3: simply safe dot com slash armstrong, you can get fifty

584
00:30:06,240 --> 00:30:08,800
Speaker 3: percent off a new system with a professional monitoring plan

585
00:30:08,840 --> 00:30:11,479
Speaker 3: and get your first month free. That's simply safe dot

586
00:30:11,520 --> 00:30:14,680
Speaker 3: com slash Armstrong. There's no safe like simply safe.

587
00:30:14,760 --> 00:30:16,280
Speaker 2: And then one more thing before we take a break,

588
00:30:16,280 --> 00:30:18,920
Speaker 2: because you got mail bag coming up, is this wasn't

589
00:30:18,920 --> 00:30:24,400
Speaker 2: on purpose, but ended up being. You know, everybody's talking

590
00:30:24,400 --> 00:30:27,760
Speaker 2: about the end of the all those other tariffs without

591
00:30:28,040 --> 00:30:31,280
Speaker 2: much focus on the fact that he just exploded Chinese

592
00:30:31,640 --> 00:30:33,920
Speaker 2: tariffs on China to one hundred and twenty percent from

593
00:30:34,040 --> 00:30:37,080
Speaker 2: what were they before forty five. And I mean, if

594
00:30:37,120 --> 00:30:39,760
Speaker 2: he had only done that, that would have been such

595
00:30:39,760 --> 00:30:41,640
Speaker 2: a giant headline. It never been to be talking about it,

596
00:30:41,640 --> 00:30:42,800
Speaker 2: and a lot of people would be saying it was

597
00:30:42,800 --> 00:30:43,600
Speaker 2: a horrible mistake.

598
00:30:43,760 --> 00:30:46,720
Speaker 1: And now it's just kind of like not even a story. Yeah,

599
00:30:46,720 --> 00:30:47,160
Speaker 1: you're right.

600
00:30:47,240 --> 00:30:48,840
Speaker 2: I don't think that was on purpose, but that is

601
00:30:49,040 --> 00:30:52,400
Speaker 2: the ultimate end result. I think, what was that movie?

602
00:30:52,480 --> 00:30:55,280
Speaker 2: Everything all at once, all the time. That's the news

603
00:30:55,280 --> 00:30:57,160
Speaker 2: flow right now. Yeah, what do you focus on?

604
00:30:57,280 --> 00:30:59,720
Speaker 3: If you're a Democrat, they're miserable, their heads are in

605
00:30:59,720 --> 00:31:00,160
Speaker 3: their hand.

606
00:31:00,520 --> 00:31:03,600
Speaker 1: I don't know what to yell about. Uh mailbag on

607
00:31:03,600 --> 00:31:06,400
Speaker 1: the white bunch of other stuff. Stay here.

608
00:31:08,080 --> 00:31:10,120
Speaker 2: I had to get up backtra early to take my

609
00:31:10,280 --> 00:31:12,960
Speaker 2: dire Wolf pumps for a walk around the block.

610
00:31:14,160 --> 00:31:15,040
Speaker 1: Before I went to work.

611
00:31:16,160 --> 00:31:18,200
Speaker 3: Yeah, if they get to Nancy, they'll really tear up

612
00:31:18,200 --> 00:31:20,760
Speaker 3: the furniture being I eat your fish saw tall at

613
00:31:20,800 --> 00:31:24,640
Speaker 3: the soldier at the shoulder. Yeah, exactly, enormous. Here's your

614
00:31:24,680 --> 00:31:26,800
Speaker 3: freedom loving quote of the day. Love this one from

615
00:31:26,880 --> 00:31:30,520
Speaker 3: PJ O'Rourke. Jeff sent it along. It's terrific. It's just

616
00:31:30,600 --> 00:31:34,120
Speaker 3: quoting it the other day. An entitlement is what people

617
00:31:34,160 --> 00:31:36,880
Speaker 3: on welfare get, and how free are they. It's not

618
00:31:36,920 --> 00:31:40,160
Speaker 3: an endlessly expanding list of rights. The right to education,

619
00:31:40,280 --> 00:31:42,800
Speaker 3: the right to healthcare, the right to food and housing.

620
00:31:43,080 --> 00:31:45,880
Speaker 1: That's not freedom, that's dependency. Those aren't rights.

621
00:31:45,880 --> 00:31:49,200
Speaker 3: Those are the rations of slavery, hay into barn for

622
00:31:49,360 --> 00:31:52,480
Speaker 3: human cattle. There's only one basic human right, the right

623
00:31:52,520 --> 00:31:54,640
Speaker 3: to do as you damn well please, and with it

624
00:31:54,640 --> 00:31:57,320
Speaker 3: comes the only basic human duty, the duty to take

625
00:31:57,360 --> 00:31:58,320
Speaker 3: the consequences.

626
00:31:59,240 --> 00:32:01,280
Speaker 1: I couldn't love that more. That's pretty good.

627
00:32:01,520 --> 00:32:03,480
Speaker 3: If I had a manifesto, that would be in the

628
00:32:03,560 --> 00:32:08,360
Speaker 3: lead mailbag prob us a note mail bag at Armstrong

629
00:32:08,400 --> 00:32:15,280
Speaker 3: and getty dot com weirdly dental related mailbag today this

630
00:32:16,160 --> 00:32:18,320
Speaker 3: later today, two pm Eastern, I'll be listening to the

631
00:32:18,360 --> 00:32:20,280
Speaker 3: A and G podcast, as I have for many years,

632
00:32:20,320 --> 00:32:22,400
Speaker 3: but this time I'll be listening to it while undergoing

633
00:32:22,520 --> 00:32:26,400
Speaker 3: oral surgery. I mean a couple holes drilled to replace

634
00:32:26,400 --> 00:32:28,800
Speaker 3: an implant, et cetera. Why am I reading you this

635
00:32:29,080 --> 00:32:32,480
Speaker 3: because of the sign off, Michael, can you lower the music?

636
00:32:33,440 --> 00:32:36,200
Speaker 3: There's a hole in my mouth where my teeth once. Well,

637
00:32:36,600 --> 00:32:40,800
Speaker 3: somebody's my again, Monney anyway, owen too that it's Kevin.

638
00:32:42,280 --> 00:32:46,520
Speaker 3: That's really funny. And then this Mike from Surf City.

639
00:32:47,320 --> 00:32:49,400
Speaker 3: But the tennis today with my fifteen year old son.

640
00:32:49,520 --> 00:32:51,520
Speaker 3: He's been going to this place most of his life,

641
00:32:51,520 --> 00:32:54,200
Speaker 3: and we've always known there's this wackado roaming the halls.

642
00:32:54,520 --> 00:32:57,200
Speaker 3: Usually he's just loud and opinion that he'd opinionated, but

643
00:32:57,320 --> 00:33:00,240
Speaker 3: day he went full feral. Now he already had his

644
00:33:00,280 --> 00:33:02,000
Speaker 3: hands in my kid's mouth, so I've always let his

645
00:33:02,120 --> 00:33:04,680
Speaker 3: loud anti trump rant slide. But today he launched into

646
00:33:04,680 --> 00:33:07,240
Speaker 3: a tirade about the China tariffs and now everything comes

647
00:33:07,280 --> 00:33:09,520
Speaker 3: from China. I held my tongue for about half an hour,

648
00:33:09,560 --> 00:33:11,960
Speaker 3: but the mixt of dennist off his tension and one

649
00:33:12,000 --> 00:33:14,200
Speaker 3: lie after another finally pushed me to respond with a

650
00:33:14,200 --> 00:33:18,040
Speaker 3: little common sense. Anyway, so this guy gets all agitated

651
00:33:18,080 --> 00:33:21,560
Speaker 3: and starts yelling he's got no facts. He's just like

652
00:33:21,560 --> 00:33:23,800
Speaker 3: a homeless methadic coming at me on the street, just

653
00:33:23,800 --> 00:33:27,320
Speaker 3: pure intensity and zero logic and I'm gonna skip ahead

654
00:33:27,360 --> 00:33:30,800
Speaker 3: a little bit, but somewhere in the middle of his madness,

655
00:33:30,880 --> 00:33:33,880
Speaker 3: I somehow had him supporting slavery and child labor, all

656
00:33:33,920 --> 00:33:36,680
Speaker 3: while complaining that the minimum wage is too high in California.

657
00:33:36,880 --> 00:33:39,360
Speaker 3: Poor guy's never had so many truths at once. My

658
00:33:39,440 --> 00:33:41,520
Speaker 3: son looked at me afterwards and said, Dad, he was

659
00:33:41,560 --> 00:33:43,680
Speaker 3: gaslighting you. He didn't have a single good point. All

660
00:33:43,720 --> 00:33:46,280
Speaker 3: he could do is yell. Fifteen years old and already

661
00:33:46,320 --> 00:33:49,560
Speaker 3: smarter than half the country or more, says Mike from Serfs.

662
00:33:49,840 --> 00:33:50,080
Speaker 4: Yeah.

663
00:33:50,160 --> 00:33:52,960
Speaker 2: I for when I'm in those situations, I try to

664
00:33:53,040 --> 00:33:56,480
Speaker 2: get to a yeah. I don't talk about politics very quickly,

665
00:33:56,960 --> 00:33:58,440
Speaker 2: just yeah, I'm not listening to.

666
00:33:59,280 --> 00:34:01,200
Speaker 1: Even if I with you, I don't want to talk

667
00:34:01,200 --> 00:34:01,640
Speaker 1: about this.

668
00:34:02,120 --> 00:34:04,880
Speaker 3: Why you're working on my kid's teeth, that's great if

669
00:34:04,880 --> 00:34:07,680
Speaker 3: it persists. I am on the phone that day with

670
00:34:07,800 --> 00:34:10,440
Speaker 3: the dentist saying, you get rid of this person, or

671
00:34:10,480 --> 00:34:12,640
Speaker 3: we will go. We are gone, and we'll tell everybody

672
00:34:12,640 --> 00:34:17,600
Speaker 3: why we're gone. That has to end. Like day before yesterday,

673
00:34:18,200 --> 00:34:21,680
Speaker 3: Reagan put it. Let's see Burbank Luke with an excellent

674
00:34:21,680 --> 00:34:23,880
Speaker 3: point here. Larry Summers said, of the tariffs, this is

675
00:34:23,920 --> 00:34:26,799
Speaker 3: the first US bout of US financial stability caused by

676
00:34:26,800 --> 00:34:29,640
Speaker 3: the US government. What a statement, I guess the housing

677
00:34:29,680 --> 00:34:33,200
Speaker 3: bubble and subsequent recession of twenty oh eight slipped his mind. Excellent,

678
00:34:33,239 --> 00:34:36,400
Speaker 3: that was caused by granting mortgage just to anyone who

679
00:34:36,440 --> 00:34:39,400
Speaker 3: could fog a mayor. Thanks Bill Clinton and Barney Frank

680
00:34:39,560 --> 00:34:43,400
Speaker 3: excellent point while he was Bill Clinton's Treasury secretary. How

681
00:34:43,400 --> 00:34:45,920
Speaker 3: about our government racking up thirty six trillion dollars worth

682
00:34:45,960 --> 00:34:48,319
Speaker 3: of debt or allowing China wage total war on US

683
00:34:48,360 --> 00:34:51,320
Speaker 3: for the last thirty years with the favored nation status

684
00:34:51,400 --> 00:34:54,360
Speaker 3: we granted them. I wasn't going to count the disastrous

685
00:34:54,400 --> 00:34:58,320
Speaker 3: COVID policy lockdowns was disrupted every aspect of our lives,

686
00:34:58,480 --> 00:35:01,560
Speaker 3: causing massive inflation and job losses because state governments share

687
00:35:01,560 --> 00:35:04,680
Speaker 3: the blame. Then I remembered what government paid for the

688
00:35:04,680 --> 00:35:07,720
Speaker 3: gain of function research. What an f and clown Thomas

689
00:35:07,760 --> 00:35:10,319
Speaker 3: Soul was onto something with that quip about Harvard men

690
00:35:11,000 --> 00:35:13,120
Speaker 3: per Bank Luke bringing it.

691
00:35:13,400 --> 00:35:16,239
Speaker 2: I'm I'm an ostrich head in the sand on a

692
00:35:16,239 --> 00:35:19,000
Speaker 2: lot of your macroeconomy stuff. I just I'm so cynical

693
00:35:19,040 --> 00:35:22,560
Speaker 2: and like practically conspiracy theory guide that I just feel

694
00:35:22,600 --> 00:35:26,719
Speaker 2: like there are very powerful people the top that run

695
00:35:26,760 --> 00:35:28,319
Speaker 2: all this and do whatever hell they want and get

696
00:35:28,360 --> 00:35:31,400
Speaker 2: really really witch And I mean the Scarborough was mentioning

697
00:35:31,400 --> 00:35:34,000
Speaker 2: the other day on MSNBC, and I was happy that

698
00:35:34,040 --> 00:35:37,480
Speaker 2: he brought this up. Was the Giant two thousand whatever

699
00:35:37,560 --> 00:35:44,239
Speaker 2: it was housing crash. Nobody went to jail, nobody, nobody

700
00:35:44,960 --> 00:35:46,400
Speaker 2: destroyed the economy.

701
00:35:46,520 --> 00:35:49,480
Speaker 1: So many of us I lost hundreds of thousands of dollars.

702
00:35:49,760 --> 00:35:53,239
Speaker 2: I mean, so many people lost so much money because

703
00:35:53,239 --> 00:35:55,239
Speaker 2: they are giving loans to people.

704
00:35:54,920 --> 00:35:59,239
Speaker 1: That should have never gotten loved. Nobody name of equity.

705
00:36:00,200 --> 00:36:05,200
Speaker 3: Nobody got except well and Progressive America never stood up

706
00:36:05,239 --> 00:36:07,120
Speaker 3: and said, yeah, that policy was disastrous.

707
00:36:07,320 --> 00:36:10,680
Speaker 1: It was miserable. We have inflicted this dam engine we apologize. Nobody.

708
00:36:10,920 --> 00:36:13,440
Speaker 2: Ah so excited, I can't get started on and it

709
00:36:13,480 --> 00:36:15,080
Speaker 2: makes me too angry. So that's why coming to the

710
00:36:15,120 --> 00:36:16,640
Speaker 2: reasons I've given up on that whole thing.

711
00:36:17,160 --> 00:36:20,760
Speaker 3: Coming up next hour, Jack, Yes you can outrun a horse,

712
00:36:21,440 --> 00:36:22,240
Speaker 3: I will explain.

713
00:36:23,200 --> 00:36:26,359
Speaker 1: Wow, that's the question of the day. How the hell

714
00:36:26,400 --> 00:36:27,080
Speaker 1: did that come up?

715
00:36:27,160 --> 00:36:29,200
Speaker 2: If you missed the second, get the podcast Armstrong and

716
00:36:29,200 --> 00:36:30,160
Speaker 2: Getty on demand.

717
00:36:31,600 --> 00:36:32,800
Speaker 1: Armstrong and Getty