1 00:00:00,680 --> 00:00:04,800 Speaker 1: Welcome back in for the Friday edition Clay Travis Buck 2 00:00:04,840 --> 00:00:07,200 Speaker 1: Sexton Show. We appreciate all of you hanging out with 3 00:00:07,280 --> 00:00:08,559 Speaker 1: us all over the country. 4 00:00:09,039 --> 00:00:10,800 Speaker 2: I am sun tanned, chastened. 5 00:00:11,720 --> 00:00:14,520 Speaker 1: I had a debacle of a day on the golf course, 6 00:00:14,560 --> 00:00:17,160 Speaker 1: as is often the case, but thanks to Pa, to 7 00:00:18,120 --> 00:00:22,280 Speaker 1: the guys who played with me, who were fabulous across 8 00:00:22,320 --> 00:00:26,680 Speaker 1: the board, and we had a what I would say 9 00:00:26,680 --> 00:00:29,240 Speaker 1: it was a pretty good time across the board. We'll 10 00:00:29,240 --> 00:00:32,040 Speaker 1: get into that a little bit as we moved throughout 11 00:00:32,080 --> 00:00:36,560 Speaker 1: the program, but live going on at Durrow. I played 12 00:00:36,640 --> 00:00:40,440 Speaker 1: yesterday Buck with Paul Casey and at the turn Charles 13 00:00:40,520 --> 00:00:43,320 Speaker 1: Howell the third, so I got nine holes with each guys. 14 00:00:43,360 --> 00:00:45,640 Speaker 1: Turns out they're both pretty good at golf. Case you wondered. 15 00:00:46,240 --> 00:00:49,760 Speaker 1: President Trump flew in at the near the end of 16 00:00:49,800 --> 00:00:52,680 Speaker 1: our round, and I don't know if he's staying in 17 00:00:52,800 --> 00:00:56,280 Speaker 1: Durrow the Miami area to watch the tournament. I heard 18 00:00:56,280 --> 00:00:58,480 Speaker 1: he was going to be there a decent amount on 19 00:00:58,560 --> 00:01:02,200 Speaker 1: his golf course, but I saw him walking in yesterday 20 00:01:02,720 --> 00:01:06,120 Speaker 1: and the drama of the day though, and I thought 21 00:01:06,120 --> 00:01:08,760 Speaker 1: about this because I looked down at my phone a 22 00:01:08,800 --> 00:01:13,480 Speaker 1: little bit as we were as we were traveling, and 23 00:01:14,720 --> 00:01:17,080 Speaker 1: then also as I was on the golf course, I 24 00:01:17,120 --> 00:01:19,200 Speaker 1: tried to have to check my phone that much, and 25 00:01:19,240 --> 00:01:22,280 Speaker 1: I was like, oh Man, stock Market. Bucks just dodging bullets, 26 00:01:22,319 --> 00:01:27,480 Speaker 1: solo in the show, talking tariffs, taking calls, emails. Everybody's 27 00:01:27,480 --> 00:01:30,319 Speaker 1: looking at their four oh one ks, and so I 28 00:01:30,319 --> 00:01:34,399 Speaker 1: figured we probably should start off talking about this. Also, 29 00:01:34,440 --> 00:01:36,319 Speaker 1: we'll take some of your calls. We've got a loaded show. 30 00:01:36,760 --> 00:01:38,920 Speaker 1: By the way, Senator Tommy Tuberville going to be with us, 31 00:01:38,959 --> 00:01:40,800 Speaker 1: Dave Rutherford, who was a part of the Clay and 32 00:01:40,840 --> 00:01:43,919 Speaker 1: Buck podcast network, Dave McCormick and his wife Dina Powell. 33 00:01:43,959 --> 00:01:46,479 Speaker 1: They have a great new book out, and Auburn men's 34 00:01:46,520 --> 00:01:50,440 Speaker 1: basketball coach Bruce Pearl scheduled to call in. He's a 35 00:01:50,480 --> 00:01:53,360 Speaker 1: fan of the program and he has got the Auburn 36 00:01:53,440 --> 00:01:56,680 Speaker 1: Tigers playing in the NCAA tournament, which I also heard 37 00:01:56,720 --> 00:02:01,080 Speaker 1: there was some controversy surrounding bucks pronunciation of tournament yesterday, 38 00:02:01,120 --> 00:02:05,120 Speaker 1: Auburn playing against Florida on one side, Houston against Duke 39 00:02:05,200 --> 00:02:05,960 Speaker 1: on Saturday. 40 00:02:06,680 --> 00:02:09,600 Speaker 3: I just need to clarify something, Clay, because after some 41 00:02:09,680 --> 00:02:12,799 Speaker 3: of your video from the golf course made its way online, 42 00:02:13,200 --> 00:02:16,160 Speaker 3: there's talk that you can hit three hundred and thirty 43 00:02:16,200 --> 00:02:19,440 Speaker 3: yards from the blues and that now people are calling 44 00:02:19,480 --> 00:02:21,200 Speaker 3: you Shooter mctravis. 45 00:02:22,280 --> 00:02:24,600 Speaker 1: That would be a great I'd be a great fantasy 46 00:02:24,639 --> 00:02:29,880 Speaker 1: football team name Shooter mctravis. I don't know that anyone 47 00:02:29,880 --> 00:02:33,840 Speaker 1: has ever put four worst shots together to begin around 48 00:02:33,919 --> 00:02:39,079 Speaker 1: than I did on yesterday with a PGA and live 49 00:02:39,280 --> 00:02:44,120 Speaker 1: pro historically Paul Casey, super successful guy. It's bad to 50 00:02:44,160 --> 00:02:46,440 Speaker 1: hit a bad golf shot when you're playing with your buddies. 51 00:02:46,840 --> 00:02:48,799 Speaker 1: It's really bad to hit a bad golf shot when 52 00:02:48,800 --> 00:02:51,720 Speaker 1: you're playing with pros. So anyway, four worst shots that 53 00:02:51,760 --> 00:02:53,560 Speaker 1: have ever existed in the history of golf. I'm sure 54 00:02:53,560 --> 00:02:55,840 Speaker 1: some of you out there listening are raising your hands, 55 00:02:55,840 --> 00:02:56,920 Speaker 1: say Clay, you should have seen me. 56 00:02:57,840 --> 00:02:58,919 Speaker 2: But I'm telling you these. 57 00:02:58,800 --> 00:03:00,720 Speaker 1: Were the four worst shots that have ever been strung 58 00:03:00,720 --> 00:03:03,200 Speaker 1: together in the history of golf. Okay, what's going on? 59 00:03:03,320 --> 00:03:05,160 Speaker 1: Stock market? I know I tell you not to look, 60 00:03:05,200 --> 00:03:07,000 Speaker 1: but I'm just going to tell you what the latest is. 61 00:03:07,680 --> 00:03:11,960 Speaker 1: Stock market RTE down right now, not going well. The 62 00:03:12,120 --> 00:03:15,560 Speaker 1: S and P five hundred down around four percent so 63 00:03:15,680 --> 00:03:20,800 Speaker 1: far today, and the Dow is down right at three 64 00:03:20,800 --> 00:03:24,880 Speaker 1: and a half percent. That is not well. Okay, so 65 00:03:25,160 --> 00:03:31,320 Speaker 1: general rule before before we begin, I practice this to 66 00:03:31,440 --> 00:03:34,280 Speaker 1: the best of my ability. I think if you have 67 00:03:34,320 --> 00:03:37,520 Speaker 1: a four to oh one k, if you have stocks, 68 00:03:38,240 --> 00:03:41,320 Speaker 1: almost the worst thing you can do, especially if you 69 00:03:41,360 --> 00:03:45,080 Speaker 1: have index funds, is sit around and look at them 70 00:03:45,520 --> 00:03:49,200 Speaker 1: all the time and obsess about them. Because what the 71 00:03:49,280 --> 00:03:52,960 Speaker 1: data reflects is your emotion gets the better of you. 72 00:03:53,640 --> 00:03:57,800 Speaker 1: My emotion gets the better of me. And people, overwhelmingly 73 00:03:57,880 --> 00:04:01,560 Speaker 1: when they try to time the market sell at the 74 00:04:01,840 --> 00:04:04,720 Speaker 1: time when stocks are near their lowest prices, because you're 75 00:04:04,720 --> 00:04:06,720 Speaker 1: looking around, you're saying, oh, my goodness, I should have 76 00:04:06,720 --> 00:04:08,520 Speaker 1: sold three months ago, and if I had, I would 77 00:04:08,520 --> 00:04:10,480 Speaker 1: have X amount of money, and now that money's gone. 78 00:04:10,640 --> 00:04:14,160 Speaker 1: This is the way people think, and so you sell 79 00:04:14,200 --> 00:04:17,359 Speaker 1: at the absolute worse moment, and then you tend to 80 00:04:17,480 --> 00:04:20,600 Speaker 1: buy at the absolute worst moment too, because when stock 81 00:04:20,640 --> 00:04:22,840 Speaker 1: prices are going up, you look at prices and you say, man, 82 00:04:22,880 --> 00:04:25,240 Speaker 1: I should have bought six months ago. Why didn't I 83 00:04:25,279 --> 00:04:25,400 Speaker 1: do it? 84 00:04:25,400 --> 00:04:25,600 Speaker 2: A lot? 85 00:04:25,640 --> 00:04:27,600 Speaker 1: Better do it now because they're going to keep going up. 86 00:04:27,720 --> 00:04:30,520 Speaker 1: And so people who are timing the market very often 87 00:04:30,560 --> 00:04:33,320 Speaker 1: are buying at peaks and selling at valleys. Okay, so 88 00:04:33,480 --> 00:04:36,640 Speaker 1: let's start there. Now what is going on. But the 89 00:04:36,640 --> 00:04:39,080 Speaker 1: way that I would sort of classify this I was 90 00:04:39,120 --> 00:04:43,520 Speaker 1: reading this morning breaking this down, Trump is for better 91 00:04:43,600 --> 00:04:49,520 Speaker 1: or worse. Trump is trying to correct decades of futility, 92 00:04:50,160 --> 00:04:54,160 Speaker 1: whether it's with immigration, border policy, whether it's with waste 93 00:04:54,160 --> 00:04:56,760 Speaker 1: and fraud in the federal government and are expansive and 94 00:04:56,800 --> 00:05:02,000 Speaker 1: out of control budget processes in general, or trade agreements 95 00:05:02,200 --> 00:05:06,760 Speaker 1: which have been fundamentally unbalanced against the United States for 96 00:05:06,760 --> 00:05:09,440 Speaker 1: a long time. He knows he doesn't have very much 97 00:05:09,480 --> 00:05:11,600 Speaker 1: time because he's only got I know, there's been a 98 00:05:11,600 --> 00:05:12,919 Speaker 1: lot of talk about, oh, he's going to get a 99 00:05:12,920 --> 00:05:16,760 Speaker 1: third he's not. He's got four years, and he knows 100 00:05:16,760 --> 00:05:19,240 Speaker 1: that he has to act super fast in order for 101 00:05:19,279 --> 00:05:23,320 Speaker 1: things to start moving in a positive direction. And sometimes 102 00:05:23,720 --> 00:05:27,680 Speaker 1: in order to fix things, you have to disrupt, you 103 00:05:27,760 --> 00:05:32,560 Speaker 1: have to destroy, you have to tear down the existing systems. 104 00:05:33,000 --> 00:05:35,800 Speaker 1: And we have gotten so used. This is the truth. 105 00:05:36,320 --> 00:05:39,320 Speaker 1: Every politician tells you they're going to fix things, and 106 00:05:39,400 --> 00:05:42,400 Speaker 1: then they get to Washington, they recognize how much of 107 00:05:42,440 --> 00:05:44,479 Speaker 1: a swamp it is, how much of a mess it is, 108 00:05:45,080 --> 00:05:47,919 Speaker 1: and they basically say, I'm just going to pass the 109 00:05:47,920 --> 00:05:51,480 Speaker 1: buck along. This is why the thirty six trillion dollar 110 00:05:51,600 --> 00:05:56,039 Speaker 1: debt exists in the first place because most politicians presume 111 00:05:56,279 --> 00:05:59,640 Speaker 1: that when the penalty is there to be paid, their 112 00:05:59,720 --> 00:06:02,240 Speaker 1: career are going to be over and somebody else is 113 00:06:02,240 --> 00:06:04,760 Speaker 1: going to have to deal with the mess that they created. 114 00:06:05,240 --> 00:06:08,800 Speaker 1: Trump is unique in that he sees these messes and 115 00:06:08,880 --> 00:06:10,239 Speaker 1: he is trying to fix them. 116 00:06:10,400 --> 00:06:10,679 Speaker 2: Now. 117 00:06:11,080 --> 00:06:13,000 Speaker 1: I don't know, uh, I wasn't able to listen, so 118 00:06:13,000 --> 00:06:15,640 Speaker 1: I'm not sure how you kind of dove into it. 119 00:06:15,680 --> 00:06:15,960 Speaker 2: Buck. 120 00:06:16,440 --> 00:06:21,239 Speaker 1: My biggest sop top line, we should have fairer trade 121 00:06:21,240 --> 00:06:24,320 Speaker 1: agreements with many countries around the world. Most people would 122 00:06:24,320 --> 00:06:28,159 Speaker 1: agree with that. The challenge right now is Trump is 123 00:06:28,200 --> 00:06:32,599 Speaker 1: taking such drastic, radical action that many companies out there 124 00:06:32,640 --> 00:06:37,880 Speaker 1: that made choices believing that politicians would never really do anything. 125 00:06:38,200 --> 00:06:41,120 Speaker 1: For instance, Nike decides, hey, we're going to make all 126 00:06:41,120 --> 00:06:44,599 Speaker 1: of our shoes now in Vietnam. They spend all this 127 00:06:44,680 --> 00:06:47,240 Speaker 1: money in Vietnam. They never think that the tariffs are 128 00:06:47,240 --> 00:06:50,200 Speaker 1: going to come because they never think any politicians actually 129 00:06:50,240 --> 00:06:52,680 Speaker 1: going to hold them accountable. Apple makes most of their 130 00:06:52,720 --> 00:06:55,320 Speaker 1: phones over in China. Now in India as well, it's 131 00:06:55,400 --> 00:06:59,320 Speaker 1: much cheaper, and so as a result, they never thought 132 00:06:59,440 --> 00:07:02,240 Speaker 1: what would have happen here is happening, and so there's 133 00:07:02,279 --> 00:07:05,599 Speaker 1: a bit of a panic over the drastic changes that 134 00:07:05,680 --> 00:07:10,160 Speaker 1: are occurring and what that's going to do to small, medium, 135 00:07:10,280 --> 00:07:11,000 Speaker 1: large businesses. 136 00:07:11,080 --> 00:07:12,520 Speaker 2: That's kind of my biggest takeaway. 137 00:07:13,080 --> 00:07:17,080 Speaker 3: Well, we're also seeing is a week seam, if you will, 138 00:07:17,240 --> 00:07:20,760 Speaker 3: in our system, in that when you try to fix 139 00:07:20,800 --> 00:07:23,840 Speaker 3: any kind of problem and there's pain associated with it, 140 00:07:23,880 --> 00:07:28,880 Speaker 3: even if it's short term pain, there's no benefit politically 141 00:07:28,960 --> 00:07:32,240 Speaker 3: for that. So you have to be willing to give 142 00:07:32,280 --> 00:07:36,760 Speaker 3: the people their medicine first before things get better. And 143 00:07:36,920 --> 00:07:40,560 Speaker 3: I've brought this up before, but there was in order 144 00:07:40,640 --> 00:07:44,160 Speaker 3: to tame crazy inflation coming out of the Jimmy Carter years, 145 00:07:45,080 --> 00:07:50,240 Speaker 3: Reagan's policies led into a recession that lasted a couple 146 00:07:50,280 --> 00:07:52,920 Speaker 3: of years, right, maybe it was eighteen months something like that, 147 00:07:53,400 --> 00:07:57,520 Speaker 3: But then you had an absolute boom in America afterwards, 148 00:07:57,680 --> 00:08:00,000 Speaker 3: and a lot of the people in the so called experts, 149 00:08:00,760 --> 00:08:03,440 Speaker 3: we're saying that what Reagan was doing was not the 150 00:08:03,520 --> 00:08:05,960 Speaker 3: right thing at the time, or people were criticizing him then, 151 00:08:06,040 --> 00:08:08,840 Speaker 3: or they maybe criticize him now. If you're going to 152 00:08:08,880 --> 00:08:12,960 Speaker 3: fix the problem, especially when it comes to spending, there's 153 00:08:13,000 --> 00:08:15,520 Speaker 3: going to be a change in the way that the 154 00:08:15,560 --> 00:08:18,280 Speaker 3: money is flowing, and that means there going to be 155 00:08:18,320 --> 00:08:20,960 Speaker 3: some people who are unhappy. And it's interesting to see 156 00:08:20,960 --> 00:08:24,960 Speaker 3: who's particularly unhappy now, Clay, I don't sense that you 157 00:08:25,000 --> 00:08:27,520 Speaker 3: get a lot of upset people on Main Street. I 158 00:08:27,520 --> 00:08:29,240 Speaker 3: think you have a lot of people on Wall Street 159 00:08:29,280 --> 00:08:34,480 Speaker 3: who have gotten really addicted to just this endless flow 160 00:08:34,520 --> 00:08:38,080 Speaker 3: of money printing. And as long as when you're doing 161 00:08:38,080 --> 00:08:40,920 Speaker 3: in large numbers, right, So if you're running a multi 162 00:08:40,960 --> 00:08:43,600 Speaker 3: billion dollar hedge fund, or if you're at a massive 163 00:08:44,320 --> 00:08:49,040 Speaker 3: financial institution and investment bank and the government is printing 164 00:08:49,120 --> 00:08:51,320 Speaker 3: money and putting it out into the system, and you're 165 00:08:51,360 --> 00:08:56,080 Speaker 3: involved in the transactions and the monetizing effectively, the monetizing 166 00:08:56,200 --> 00:09:00,000 Speaker 3: of money, you're good. You just want the flood to continue, right, 167 00:09:00,320 --> 00:09:03,439 Speaker 3: But if you're somebody who is making fifty thousand dollars 168 00:09:03,480 --> 00:09:08,280 Speaker 3: a year, well, every year that you're losing three, four 169 00:09:08,520 --> 00:09:11,680 Speaker 3: five percent of purchasing power, and every year that you 170 00:09:11,760 --> 00:09:16,040 Speaker 3: have a doubling of household goods like eggs or gas 171 00:09:16,160 --> 00:09:19,640 Speaker 3: or whatever it is that hurts. And so to deal 172 00:09:19,679 --> 00:09:21,840 Speaker 3: with that in the system, you're going to have to 173 00:09:22,080 --> 00:09:24,920 Speaker 3: you know, it's like squeezing the balloon somewhere, there's going 174 00:09:24,960 --> 00:09:27,080 Speaker 3: to be a cause and effect here, every action has 175 00:09:27,120 --> 00:09:30,600 Speaker 3: an equal and opposite reaction. And I think Trump deserves 176 00:09:30,640 --> 00:09:32,720 Speaker 3: credit right now for being willing to do something that 177 00:09:32,880 --> 00:09:34,760 Speaker 3: is a risk. I think there's no question about that. 178 00:09:35,000 --> 00:09:37,559 Speaker 3: But also I think he's earned the right to take 179 00:09:37,600 --> 00:09:39,800 Speaker 3: this kind of a risk based upon his stewardship of 180 00:09:39,800 --> 00:09:41,760 Speaker 3: the economy the last time he was president. 181 00:09:42,480 --> 00:09:46,600 Speaker 1: So again, I think you look at the border. It's solved, 182 00:09:47,080 --> 00:09:49,679 Speaker 1: and I know nobody talks about it in terms of 183 00:09:49,720 --> 00:09:51,920 Speaker 1: being able to have illegals come in. We still have 184 00:09:52,000 --> 00:09:53,640 Speaker 1: to get a lot of violent predator right. 185 00:09:53,840 --> 00:09:57,000 Speaker 3: Legal immigration isn't solved, but border security is where we 186 00:09:57,040 --> 00:09:57,480 Speaker 3: need it to be. 187 00:09:57,920 --> 00:10:00,400 Speaker 1: We told that, we were told that was impossible fix 188 00:10:00,440 --> 00:10:04,840 Speaker 1: without congressional action. Trump comes in and effectively illegal crossings 189 00:10:04,880 --> 00:10:07,960 Speaker 1: that our southern border have ended. We got Elon Musk 190 00:10:08,240 --> 00:10:15,200 Speaker 1: going to work trying to fix the larger economic deficit 191 00:10:15,240 --> 00:10:19,080 Speaker 1: that we have built in our federal budget. And frankly, 192 00:10:19,440 --> 00:10:22,079 Speaker 1: a lot of what he's finding, I think is blowing 193 00:10:22,160 --> 00:10:25,599 Speaker 1: his mind in many other people's minds, and this is 194 00:10:25,640 --> 00:10:28,680 Speaker 1: a lot to bite off. Trump also has decided, hey, 195 00:10:28,720 --> 00:10:31,520 Speaker 1: by the way, we need to fix global trade imbalance. 196 00:10:31,559 --> 00:10:34,000 Speaker 1: Here's the other thing, buck. This is not something that 197 00:10:34,040 --> 00:10:37,880 Speaker 1: Trump actually benefits from. This is why it's so rare. 198 00:10:38,360 --> 00:10:43,000 Speaker 1: Almost every politician doesn't take on big challenges when the 199 00:10:43,040 --> 00:10:48,560 Speaker 1: payoff occurs long after they are gone. The onshoring of 200 00:10:48,679 --> 00:10:52,760 Speaker 1: jobs to replace the offshoring is something that takes years 201 00:10:52,800 --> 00:10:55,320 Speaker 1: of investment. It's something this is what we talked about, 202 00:10:55,559 --> 00:11:02,960 Speaker 1: that requires multiple terms of a probably Republican administration, because 203 00:11:02,960 --> 00:11:05,640 Speaker 1: I can't think of anybody who's Democrat insane on these 204 00:11:05,679 --> 00:11:08,560 Speaker 1: issues right now and in the short term. It's going 205 00:11:08,640 --> 00:11:14,240 Speaker 1: to create pain. Now, if tariffs are so incredibly awful, 206 00:11:14,440 --> 00:11:18,360 Speaker 1: as every left wing economist economist wants to argue, now, 207 00:11:18,600 --> 00:11:21,400 Speaker 1: why do they exist? This is a really difficult question 208 00:11:21,480 --> 00:11:22,480 Speaker 1: I think for them to answer. 209 00:11:23,040 --> 00:11:28,280 Speaker 3: Well, people should also remember before the before the constitutional 210 00:11:28,320 --> 00:11:31,679 Speaker 3: amendment that made it possible for the income tax. Right, 211 00:11:32,640 --> 00:11:34,480 Speaker 3: it's not a constitutional amendment. I'm trying to remember this 212 00:11:34,559 --> 00:11:37,440 Speaker 3: twenty seven that's room. I think that's right before the 213 00:11:37,480 --> 00:11:40,040 Speaker 3: twentieth century, when the income tax came into effect. That 214 00:11:40,080 --> 00:11:44,480 Speaker 3: I can say with confidence the country was funded with tariffs. 215 00:11:44,720 --> 00:11:46,640 Speaker 2: So it's interesting, and I. 216 00:11:46,600 --> 00:11:50,560 Speaker 3: Know that we're a lot wealthier in twenty twenty four 217 00:11:50,640 --> 00:11:52,679 Speaker 3: than we were in you know, eighteen twenty four as 218 00:11:52,679 --> 00:11:55,120 Speaker 3: a country or twenty twenty five, Sorry forgot what year 219 00:11:55,120 --> 00:12:00,480 Speaker 3: it is. But we were growing rapidly and industrializing rapidly 220 00:12:01,200 --> 00:12:04,160 Speaker 3: when tariffs were in fact the way the country was funded. 221 00:12:04,200 --> 00:12:06,000 Speaker 3: Now that's not to say that you want to try 222 00:12:06,000 --> 00:12:08,640 Speaker 3: to fund America with tariffs, although Trump does talk about 223 00:12:08,640 --> 00:12:12,120 Speaker 3: that a little bit, but it does go to this, clearly, 224 00:12:12,360 --> 00:12:15,760 Speaker 3: isn't the annihilation of Has it annihilated the Chinese economy? 225 00:12:16,280 --> 00:12:19,840 Speaker 3: China has tariffs that are super aggressive, China Clay has tariffs, 226 00:12:20,280 --> 00:12:24,640 Speaker 3: has currency manipulation, has ip theft has I mean you 227 00:12:24,679 --> 00:12:27,480 Speaker 3: add all the things that they're doing. Has their economy 228 00:12:27,480 --> 00:12:31,520 Speaker 3: been destroyed China nineteen eighty versus today. Have they gotten 229 00:12:31,679 --> 00:12:34,000 Speaker 3: richer or poorer with all these things that they have 230 00:12:34,080 --> 00:12:34,520 Speaker 3: in mind? 231 00:12:35,120 --> 00:12:37,360 Speaker 1: No, They've definitely been playing the game. I think the 232 00:12:37,360 --> 00:12:41,280 Speaker 1: best example China taking advantage of US buck is they 233 00:12:41,320 --> 00:12:46,120 Speaker 1: took total advantage of labor laws in the trade agreements 234 00:12:46,120 --> 00:12:48,160 Speaker 1: by just moving a lot of their production to Mexico 235 00:12:48,640 --> 00:12:51,319 Speaker 1: and so they can bring it into the country far cheaper. 236 00:12:51,760 --> 00:12:54,400 Speaker 1: And that's one reason. You know, the technology has become 237 00:12:54,440 --> 00:12:56,960 Speaker 1: such that people can just hopscotch around the world. I 238 00:12:57,000 --> 00:12:59,760 Speaker 1: think Nike used to be in the Philippines. Philippines got 239 00:12:59,760 --> 00:13:02,280 Speaker 1: to a expensive so they moved to Vietnam. They have 240 00:13:02,440 --> 00:13:05,680 Speaker 1: just continued to move to the country where their their 241 00:13:05,679 --> 00:13:10,280 Speaker 1: product cost is the lowest. And and and again the 242 00:13:10,360 --> 00:13:12,640 Speaker 1: result has been and I know many of you out 243 00:13:12,679 --> 00:13:17,320 Speaker 1: there listening know and feel this, that the average manufacturing 244 00:13:17,400 --> 00:13:21,320 Speaker 1: worker in America is making a Those jobs just don't 245 00:13:21,320 --> 00:13:24,920 Speaker 1: exist anymore. And Trump is actually trying to fix much 246 00:13:24,960 --> 00:13:26,120 Speaker 1: of that in the Rust Bell. 247 00:13:26,640 --> 00:13:30,280 Speaker 3: Yeah, and look, he's not banning imports. And it is 248 00:13:30,320 --> 00:13:33,480 Speaker 3: important to keep in mind that we're not hoping that 249 00:13:33,520 --> 00:13:36,200 Speaker 3: we're going to start making all, you know, T shirts 250 00:13:36,200 --> 00:13:39,120 Speaker 3: and sneakers necessarily in America. There are some things that 251 00:13:39,160 --> 00:13:42,600 Speaker 3: would be very difficult for us to make profitably, just 252 00:13:42,640 --> 00:13:46,880 Speaker 3: based upon cost of labor here and expectations for what 253 00:13:46,960 --> 00:13:49,640 Speaker 3: quality of life would be for a worker here versus 254 00:13:49,679 --> 00:13:51,520 Speaker 3: in other places. I mean that there are there's a 255 00:13:51,559 --> 00:13:54,559 Speaker 3: lot of push pull, But again Trump has been very 256 00:13:54,559 --> 00:13:56,960 Speaker 3: consistent on this. Clay something else we should remind everybody of. 257 00:13:57,920 --> 00:14:01,520 Speaker 3: It wasn't that long ago when Pelosi and Chuck Schumer 258 00:14:01,559 --> 00:14:04,040 Speaker 3: and others. We're talking about the huge problem of our 259 00:14:04,080 --> 00:14:08,120 Speaker 3: trade deficit. So what happened to that? Where where did 260 00:14:08,160 --> 00:14:11,719 Speaker 3: all that go? And so we'll dive into some more 261 00:14:11,720 --> 00:14:14,760 Speaker 3: of this. But I know right now this is I 262 00:14:14,800 --> 00:14:17,079 Speaker 3: think the Democrats are gearing up to make this their 263 00:14:17,600 --> 00:14:21,320 Speaker 3: their issue. They're hoping they're rooting against the country. Let's 264 00:14:21,360 --> 00:14:23,600 Speaker 3: just say that out loud. They're rooting against the American 265 00:14:23,600 --> 00:14:26,800 Speaker 3: economy right now because they think this is their pathway 266 00:14:27,200 --> 00:14:30,880 Speaker 3: to retaking the House and maybe the Senate, although I 267 00:14:30,880 --> 00:14:33,560 Speaker 3: think that's a stretch unless things get really ugly and 268 00:14:33,640 --> 00:14:35,720 Speaker 3: stopping the Trump agenda. So we have to be aware 269 00:14:35,760 --> 00:14:37,320 Speaker 3: of the politics and the background of this too, and 270 00:14:37,320 --> 00:14:39,400 Speaker 3: we will. We will take your calls on this, and 271 00:14:39,480 --> 00:14:42,320 Speaker 3: let's take some pro and and economy. Let's take some 272 00:14:42,720 --> 00:14:45,280 Speaker 3: if you really if you love Trump but you're really 273 00:14:45,280 --> 00:14:46,840 Speaker 3: worried about the tariffs, I want to hear from you. 274 00:14:47,280 --> 00:14:50,280 Speaker 3: And if you either love Trump or if you're iffy 275 00:14:50,320 --> 00:14:52,880 Speaker 3: on Trump, or whatever you think on Trump, but you 276 00:14:52,960 --> 00:14:55,360 Speaker 3: think the tariffs are absolutely the way to go, we 277 00:14:55,360 --> 00:14:57,680 Speaker 3: want to hear that too. So strong opinions either direction, 278 00:14:57,760 --> 00:15:00,320 Speaker 3: let's get them going. Eight hundred two two two eights two. 279 00:15:00,920 --> 00:15:03,120 Speaker 3: The preborn network of clinics has a team of people 280 00:15:03,200 --> 00:15:05,720 Speaker 3: who live by a mission to save the lives of 281 00:15:05,840 --> 00:15:09,440 Speaker 3: unborn babies. 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Because when mom to be 289 00:15:31,160 --> 00:15:33,280 Speaker 3: meets her unborn child in the womb and hears the 290 00:15:33,320 --> 00:15:36,040 Speaker 3: heartbeat and sees the tiny movements of her child within, 291 00:15:36,680 --> 00:15:40,200 Speaker 3: guess what she realizes how important this bond is. Each 292 00:15:40,280 --> 00:15:43,120 Speaker 3: ultrasound costs twenty eight dollars. You and I can make 293 00:15:43,120 --> 00:15:45,680 Speaker 3: a donation to cover those knowing that it well may 294 00:15:45,920 --> 00:15:50,440 Speaker 3: save a life. Most often it does. Preborn operates clinics 295 00:15:50,440 --> 00:15:53,160 Speaker 3: and communities across our nation where abortion rates are the highest. 296 00:15:53,160 --> 00:15:55,840 Speaker 3: They do this on purpose to save as many babies 297 00:15:55,920 --> 00:15:59,640 Speaker 3: as possible. In twenty years, they've saved over three hundred 298 00:15:59,680 --> 00:16:03,160 Speaker 3: thousand and babies to donate securely, just dial pound two 299 00:16:03,200 --> 00:16:06,760 Speaker 3: fifty and say the keyword baby. That's pound two five 300 00:16:06,880 --> 00:16:10,720 Speaker 3: zero say baby. Or visit Preborn dot com slash Buck. 301 00:16:11,200 --> 00:16:15,400 Speaker 3: Preborn dot Com slash Buck sponsored by Preborn. 302 00:16:16,440 --> 00:16:20,680 Speaker 4: Making America great Again isn't just one man, It's many. 303 00:16:20,920 --> 00:16:24,600 Speaker 4: The Team forty seven podcast Sunday's at noon Eastern in 304 00:16:24,800 --> 00:16:27,360 Speaker 4: the Clay and Buck podcast feed. Find it on the 305 00:16:27,400 --> 00:16:30,600 Speaker 4: iHeartRadio app or wherever you get your podcasts. 306 00:16:30,960 --> 00:16:35,160 Speaker 3: All right, welcome back into Clay and Buck. And I think, 307 00:16:35,200 --> 00:16:39,320 Speaker 3: as we're talking about reciprocal tariffs in particular, it's worth 308 00:16:39,400 --> 00:16:45,400 Speaker 3: noting that not only is Trump a major proponent of 309 00:16:45,440 --> 00:16:48,600 Speaker 3: this and pushing it now and has been for decades, 310 00:16:49,440 --> 00:16:52,320 Speaker 3: there was a time where Trump could have listened to 311 00:16:52,960 --> 00:16:55,840 Speaker 3: some others on this issue who would have also sounded 312 00:16:55,880 --> 00:16:57,920 Speaker 3: like they were very dedicated to the notion of the 313 00:16:57,920 --> 00:17:02,000 Speaker 3: reciprocal tariff. This is back in nineteen ninety six. I 314 00:17:02,160 --> 00:17:05,359 Speaker 3: was in grammar school, Clay was finishing his PhD. And 315 00:17:05,600 --> 00:17:09,960 Speaker 3: here we are. This is cut three. Here's Nancy Pelosi. Listen. 316 00:17:11,160 --> 00:17:14,880 Speaker 5: SID think it's interesting to note that the average MFN 317 00:17:14,960 --> 00:17:17,919 Speaker 5: tariff on Chinese goods coming into the United States is 318 00:17:17,960 --> 00:17:22,560 Speaker 5: two percent, whereas the average Chinese to MFF, tariff on 319 00:17:22,720 --> 00:17:26,399 Speaker 5: US goods going into China is thirty five percent. Is 320 00:17:26,440 --> 00:17:30,760 Speaker 5: that reciprocal China trade supports one hundred and seventy thousand 321 00:17:31,119 --> 00:17:34,320 Speaker 5: jobs in the United States one hundred and seventy thousand jobs, 322 00:17:34,680 --> 00:17:39,520 Speaker 5: whereas our imports from China support ten million jobs at least. 323 00:17:39,640 --> 00:17:42,480 Speaker 5: The fact is that that US China trade is a 324 00:17:42,600 --> 00:17:46,680 Speaker 5: job loser. On this day, your member of Congress could 325 00:17:46,720 --> 00:17:49,119 Speaker 5: have drawn the line to say to the President of 326 00:17:49,160 --> 00:17:52,520 Speaker 5: the United States, do something about this US China trade 327 00:17:52,600 --> 00:17:54,680 Speaker 5: relationship that is a job loser. 328 00:17:56,200 --> 00:17:58,480 Speaker 3: Maybe maybe Trump should ask Nancy if she could kind 329 00:17:58,480 --> 00:18:02,600 Speaker 3: of go on tour and propose more reciprocal tariffs. 330 00:18:02,600 --> 00:18:05,440 Speaker 1: Now, well, I mean this is where I think Trump 331 00:18:05,520 --> 00:18:09,200 Speaker 1: has remade the Republican Party to a large degree. The 332 00:18:09,440 --> 00:18:15,120 Speaker 1: average blue collar worker now votes Republican, and for those 333 00:18:15,160 --> 00:18:17,800 Speaker 1: of you who were voters in the eighties and nineties, 334 00:18:17,920 --> 00:18:22,040 Speaker 1: that was highly uncommon, and I think, frankly it's one 335 00:18:22,080 --> 00:18:24,000 Speaker 1: reason we talked about this. If you want to tie 336 00:18:24,040 --> 00:18:27,800 Speaker 1: it in that there's a challenge to mobilize the Republican 337 00:18:27,920 --> 00:18:31,920 Speaker 1: base now when it comes to these elections that take 338 00:18:31,960 --> 00:18:34,959 Speaker 1: place in non traditional times, because people are busy at 339 00:18:35,000 --> 00:18:39,440 Speaker 1: their jobs and the country club Republican image that still 340 00:18:39,440 --> 00:18:42,119 Speaker 1: exists in the party. There's still very much of that 341 00:18:42,320 --> 00:18:46,600 Speaker 1: as well. But really, the college educated voter, the person 342 00:18:46,640 --> 00:18:49,680 Speaker 1: who's going to show up at every election, has become 343 00:18:49,680 --> 00:18:54,120 Speaker 1: a Democrat orthodoxy voter, and now they don't care about 344 00:18:54,200 --> 00:18:56,560 Speaker 1: the average manufacturing worker. 345 00:18:57,000 --> 00:18:57,720 Speaker 2: And that's how. 346 00:18:57,560 --> 00:19:01,240 Speaker 1: They've come to lose the Midwest and how they have 347 00:19:01,400 --> 00:19:05,200 Speaker 1: come to fundamentally start to reject the things that they 348 00:19:05,320 --> 00:19:08,399 Speaker 1: used to speak in favor of. 349 00:19:08,800 --> 00:19:10,720 Speaker 2: And this is true across the board. 350 00:19:10,760 --> 00:19:13,159 Speaker 1: There's so many things Trump now is advocating for that 351 00:19:13,240 --> 00:19:15,560 Speaker 1: we've played for you, Buck, where Democrats used to be 352 00:19:15,600 --> 00:19:17,959 Speaker 1: the strongest advocates for them in the entire country. 353 00:19:18,400 --> 00:19:21,159 Speaker 3: Yeah, well, Democrats are no longer a party of people 354 00:19:21,240 --> 00:19:25,719 Speaker 3: who work for a living in the private sector and 355 00:19:25,880 --> 00:19:30,120 Speaker 3: are trying to build wealth for themselves and build financial security. 356 00:19:30,400 --> 00:19:33,560 Speaker 3: Democrats are the party of the very rich, government worker 357 00:19:33,680 --> 00:19:38,359 Speaker 3: and the dependent class. That's what has happened. Look, I 358 00:19:38,400 --> 00:19:40,200 Speaker 3: know tax Day is coming up soon. I got to 359 00:19:40,240 --> 00:19:41,640 Speaker 3: get to work on my taxes, and I just want 360 00:19:41,640 --> 00:19:43,920 Speaker 3: to talk to any of you out there who get 361 00:19:43,960 --> 00:19:46,479 Speaker 3: really stressed at this time of year, because you might 362 00:19:46,520 --> 00:19:49,719 Speaker 3: have some real problems with the IRS. Look happens, happens 363 00:19:49,720 --> 00:19:51,760 Speaker 3: to the best of us. But you don't want to 364 00:19:51,800 --> 00:19:54,200 Speaker 3: let this stuff wait. You want to take action on 365 00:19:54,280 --> 00:19:57,000 Speaker 3: it now. Have you missed a year or two of 366 00:19:57,000 --> 00:20:00,680 Speaker 3: returns already? Look, you want to get moving on because 367 00:20:00,760 --> 00:20:02,800 Speaker 3: if the IRS comes to you first, they could be 368 00:20:02,880 --> 00:20:07,440 Speaker 3: seizing assets, garnishing your paycheck, targeting your business, even revoking 369 00:20:07,440 --> 00:20:10,640 Speaker 3: your passport. You need somebody to step in and help 370 00:20:10,680 --> 00:20:14,280 Speaker 3: you fix any IRS problems you have right now. Call 371 00:20:14,320 --> 00:20:17,840 Speaker 3: the pros at Rush Tax Resolution eight seven seven five 372 00:20:18,040 --> 00:20:22,040 Speaker 3: five four Rush, get relief and just sleep well again. 373 00:20:22,080 --> 00:20:24,000 Speaker 3: My friends, tell them Buck told you to call and 374 00:20:24,040 --> 00:20:27,920 Speaker 3: get a free IRS transcript investigation. Rush will only take 375 00:20:28,240 --> 00:20:31,080 Speaker 3: your case if they know they can help period. Call 376 00:20:31,160 --> 00:20:35,359 Speaker 3: now Rush Tax Resolution eight seven seven five five four Rush, 377 00:20:35,640 --> 00:20:37,919 Speaker 3: or go to Rush Tax Resolution dot com. 378 00:20:38,000 --> 00:20:41,160 Speaker 1: Welcome back in Clay Travis Buck Sexton Show. 379 00:20:41,240 --> 00:20:43,400 Speaker 2: Appreciate all of you hanging out with us. 380 00:20:43,480 --> 00:20:46,520 Speaker 1: We are rolling through the Friday edition of the program. 381 00:20:46,720 --> 00:20:48,240 Speaker 1: We're gonna take a bunch of your calls today. We 382 00:20:48,280 --> 00:20:50,719 Speaker 1: also have a bunch of guests coming your way. UH 383 00:20:50,920 --> 00:20:52,880 Speaker 1: eight hundred and two A two two eight A two. 384 00:20:53,000 --> 00:20:55,600 Speaker 1: If you want to weigh in. But I do think 385 00:20:55,600 --> 00:20:58,639 Speaker 1: it's important to talk about how many of the people 386 00:20:58,720 --> 00:21:03,440 Speaker 1: now saying Trump's tear ideas are unacceptable. Actually, we're huge 387 00:21:03,440 --> 00:21:06,520 Speaker 1: proponents of tariffs. Not too long ago, we played Nancy 388 00:21:06,520 --> 00:21:10,119 Speaker 1: Pelosi for you. Here's Bernie Sanders in two thousand and 389 00:21:10,160 --> 00:21:14,959 Speaker 1: eight saying free trade without tariffs will destroy American manufacturing. 390 00:21:15,040 --> 00:21:18,800 Speaker 6: Cut for What they have said is that we need 391 00:21:19,280 --> 00:21:25,359 Speaker 6: to not worry about manufacturing in America because what we 392 00:21:25,440 --> 00:21:29,640 Speaker 6: should establish is a policy of unfitted free trade. 393 00:21:29,720 --> 00:21:30,760 Speaker 2: We don't need tariffs. 394 00:21:31,320 --> 00:21:34,640 Speaker 7: What we need is to allow corporate America the freedom, 395 00:21:34,920 --> 00:21:38,399 Speaker 7: the freedom to throw American work is out on the street. 396 00:21:38,800 --> 00:21:41,600 Speaker 7: People are making fifteen, twenty twenty five bucks an hour, 397 00:21:41,880 --> 00:21:45,120 Speaker 7: healthcare pensions. Throw them out on the street because somehow 398 00:21:45,240 --> 00:21:47,639 Speaker 7: mount of president, we are going to create wealth in 399 00:21:47,720 --> 00:21:51,280 Speaker 7: America and good paying jobs in America as we shut 400 00:21:51,320 --> 00:21:55,800 Speaker 7: down plans we moved to China. Corporations there pay workers 401 00:21:55,840 --> 00:21:58,360 Speaker 7: twenty thirty cents an hour, and we bring the product 402 00:21:58,400 --> 00:21:59,720 Speaker 7: back into this country. 403 00:22:01,040 --> 00:22:03,600 Speaker 1: It is kind of interesting here, Buck. This is when 404 00:22:03,920 --> 00:22:07,720 Speaker 1: if you remember the twenty sixteen election, there was and 405 00:22:07,720 --> 00:22:10,320 Speaker 1: there probably are some of you out there that were 406 00:22:10,320 --> 00:22:14,360 Speaker 1: deciding between voting for Bernie Sanders or Donald Trump because 407 00:22:14,720 --> 00:22:18,000 Speaker 1: many people just wanted a disruptive force in the wake 408 00:22:18,200 --> 00:22:20,959 Speaker 1: of the Barack Obama era, and there were a lot 409 00:22:20,960 --> 00:22:23,400 Speaker 1: of people New Hampshire in particular. I remember this voter 410 00:22:23,520 --> 00:22:27,600 Speaker 1: buck where people went to vote and they were deciding. 411 00:22:27,960 --> 00:22:29,960 Speaker 1: It may sound crazy to some of you, but hey, 412 00:22:30,040 --> 00:22:32,119 Speaker 1: do I want to support Bernie Sanders or do I 413 00:22:32,160 --> 00:22:33,320 Speaker 1: want to support Donald Trump? 414 00:22:33,400 --> 00:22:37,600 Speaker 3: That voter was real, Oh, absolutely, and there was this 415 00:22:37,760 --> 00:22:42,800 Speaker 3: was an interesting remnant memory of that twenty sixteen election 416 00:22:42,960 --> 00:22:46,399 Speaker 3: cycle when there were Bernie people, and because I was 417 00:22:46,440 --> 00:22:49,760 Speaker 3: at CNN at the time, there were Bernie supporters who 418 00:22:49,840 --> 00:22:51,919 Speaker 3: would have to mutter out of the side of their mouth, well, 419 00:22:52,080 --> 00:22:53,919 Speaker 3: I kind of agree with Trump on some of this 420 00:22:53,960 --> 00:22:57,160 Speaker 3: trade stuff too, because they also took this pro if 421 00:22:57,160 --> 00:23:01,480 Speaker 3: you will, pro worker position, and and I think that 422 00:23:02,119 --> 00:23:04,200 Speaker 3: there's my view on this, just to be clear, And 423 00:23:04,320 --> 00:23:05,680 Speaker 3: we're getting a lot of your calls in and we 424 00:23:05,720 --> 00:23:08,000 Speaker 3: want to take different opinions on this and hear from you. 425 00:23:08,560 --> 00:23:11,600 Speaker 3: My view on this is as follows. One the people, 426 00:23:11,880 --> 00:23:13,560 Speaker 3: or rather there are a number of things. One the 427 00:23:13,600 --> 00:23:16,800 Speaker 3: people who are saying this is absolutely terrible. Go back 428 00:23:16,840 --> 00:23:19,320 Speaker 3: and look at them on the most important policy issues, 429 00:23:19,920 --> 00:23:23,640 Speaker 3: on economics and otherwise. In the last decade or two, 430 00:23:23,880 --> 00:23:26,800 Speaker 3: they're wrong on everything. Okay, everything to tell you is 431 00:23:26,800 --> 00:23:28,800 Speaker 3: true is not true, or everything to tell you will 432 00:23:28,800 --> 00:23:31,320 Speaker 3: happen does not seem to happen. When there's an important 433 00:23:31,359 --> 00:23:33,840 Speaker 3: decision to be made. We all know that the US 434 00:23:33,880 --> 00:23:35,440 Speaker 3: is wealthy, we all know that our economy is a 435 00:23:35,520 --> 00:23:38,479 Speaker 3: very dynamic. But when it comes time for a choice, 436 00:23:38,880 --> 00:23:40,200 Speaker 3: I don't think that a lot of the voices that 437 00:23:40,240 --> 00:23:42,439 Speaker 3: are trying to tear Trump down have a good record 438 00:23:42,520 --> 00:23:45,200 Speaker 3: at all. That's one part of it, right. Another part 439 00:23:45,240 --> 00:23:48,000 Speaker 3: of it is you look at the effects of the 440 00:23:48,000 --> 00:23:51,280 Speaker 3: tariffs around the of tariffs around the world, and who 441 00:23:51,280 --> 00:23:54,520 Speaker 3: has been doing them and why they have them. If 442 00:23:54,560 --> 00:23:59,040 Speaker 3: it was so evidently a cel self evidently destructive, I'm sorry, 443 00:23:59,080 --> 00:24:04,240 Speaker 3: but Canada, you wouldn't have tariffs on our products if 444 00:24:04,240 --> 00:24:07,200 Speaker 3: it was such a dumb move. And if making people 445 00:24:07,359 --> 00:24:11,920 Speaker 3: so rich was what was what not having tariffs does? 446 00:24:12,359 --> 00:24:15,240 Speaker 3: You'd wonder, Well, I guess the EU just doesn't doesn't 447 00:24:15,280 --> 00:24:17,520 Speaker 3: want to be making money in these different sectors. So 448 00:24:17,560 --> 00:24:20,560 Speaker 3: there's and and so I think that's another part of it, 449 00:24:20,600 --> 00:24:22,000 Speaker 3: that there's no real answer to And then the other 450 00:24:22,040 --> 00:24:24,639 Speaker 3: thing is, if you want change, you have to be 451 00:24:24,680 --> 00:24:27,520 Speaker 3: willing to change things. And I know that's a tautology, 452 00:24:27,600 --> 00:24:30,760 Speaker 3: but you have to actually do something different from what 453 00:24:30,840 --> 00:24:33,520 Speaker 3: you've been experiencing. The status quo is going to give 454 00:24:33,520 --> 00:24:36,080 Speaker 3: you more status quo. Trump came in and he said 455 00:24:36,119 --> 00:24:38,000 Speaker 3: he was going to change the border, and he did. 456 00:24:38,200 --> 00:24:40,520 Speaker 3: And as we've talked about, huge success, he said he 457 00:24:40,560 --> 00:24:42,200 Speaker 3: was going to look at government waste for an abuse. 458 00:24:42,440 --> 00:24:45,199 Speaker 3: Does is doing that. Hopefully they'll get a recision package 459 00:24:45,200 --> 00:24:47,000 Speaker 3: from Congress If they do, I think that'll be a 460 00:24:47,040 --> 00:24:50,520 Speaker 3: considerable success. This is a big This is a big move, 461 00:24:50,600 --> 00:24:53,359 Speaker 3: This is a big call. And Trump is rolling the 462 00:24:53,400 --> 00:24:55,600 Speaker 3: dice on this one. I think he's earned the right 463 00:24:55,600 --> 00:24:57,320 Speaker 3: to play the hand as he sees fit. I really, 464 00:24:57,520 --> 00:24:59,119 Speaker 3: and I think that's in the best interests of the 465 00:24:59,160 --> 00:25:02,280 Speaker 3: country right now. And you know what, Clay, if he's wrong, okay, 466 00:25:02,480 --> 00:25:05,320 Speaker 3: then we'll double back. We'll bring these things down. It's 467 00:25:05,320 --> 00:25:08,600 Speaker 3: not We're not nuking Moscow over this, you know what 468 00:25:08,600 --> 00:25:10,840 Speaker 3: I'm saying. This is not like a million people are 469 00:25:10,840 --> 00:25:14,680 Speaker 3: incinerated overnight and you can't say whoopsie after that. I mean, 470 00:25:14,720 --> 00:25:17,399 Speaker 3: this is about an ongoing negotiation. 471 00:25:17,600 --> 00:25:19,640 Speaker 1: Two things, and then I want to play Barack Obama 472 00:25:19,760 --> 00:25:24,719 Speaker 1: talking about the necessity of reciprocal trade agreements with China 473 00:25:24,760 --> 00:25:28,960 Speaker 1: when it comes to tariffs. But gas prices are going 474 00:25:29,040 --> 00:25:33,280 Speaker 1: to be based on the price of oil. Gas prices 475 00:25:33,320 --> 00:25:35,760 Speaker 1: are going to be the lowest that they've been since 476 00:25:35,840 --> 00:25:39,520 Speaker 1: the COVID basic shutdown. So a lot of you are 477 00:25:39,560 --> 00:25:42,280 Speaker 1: going to be seeing gas prices lower than they have 478 00:25:42,400 --> 00:25:47,040 Speaker 1: been again in five years. Basically, second part of this, 479 00:25:47,840 --> 00:25:51,320 Speaker 1: these tariffs are not supposed to impact the price of 480 00:25:51,440 --> 00:25:55,000 Speaker 1: goods on a day to day basis in a substantial 481 00:25:55,040 --> 00:25:59,800 Speaker 1: way in grocery stores, meaning whatever you're buying to eat 482 00:26:00,119 --> 00:26:03,160 Speaker 1: is not likely to be impacted in a price. Those 483 00:26:03,200 --> 00:26:06,360 Speaker 1: are the two places that I think most Americans notice 484 00:26:06,680 --> 00:26:12,720 Speaker 1: cost and so I think that if that happens. Plus, 485 00:26:13,280 --> 00:26:17,000 Speaker 1: Trump has sent out a message saying a truth social 486 00:26:17,000 --> 00:26:20,200 Speaker 1: message saying that interest rates need to be cut again. 487 00:26:20,800 --> 00:26:24,680 Speaker 1: If if there is a fear that we are sliding 488 00:26:24,720 --> 00:26:29,560 Speaker 1: towards recession, Jerome Powell should be cutting interest rates. A 489 00:26:29,600 --> 00:26:32,200 Speaker 1: cut in interest rates, let me just point out, would 490 00:26:32,240 --> 00:26:35,480 Speaker 1: free up a lot of the housing market. I just 491 00:26:35,600 --> 00:26:37,879 Speaker 1: the number of people out there buck who have two 492 00:26:37,960 --> 00:26:40,960 Speaker 1: and a half or three percent interest rates. Don't want 493 00:26:41,000 --> 00:26:44,439 Speaker 1: to leave their home and yet don't want to be 494 00:26:44,480 --> 00:26:47,960 Speaker 1: paying seven percent for their mortgage rate to go somewhere else. 495 00:26:48,200 --> 00:26:52,880 Speaker 1: Has completely discombobulated the entire housing park market. The run 496 00:26:52,960 --> 00:26:56,280 Speaker 1: up that Joe Biden caused in interest rates going from 497 00:26:56,320 --> 00:26:59,120 Speaker 1: two and a half to seven percent as rapidly as 498 00:26:59,119 --> 00:27:02,480 Speaker 1: it did for mortgage just for instance, has to rectify 499 00:27:02,520 --> 00:27:05,120 Speaker 1: itself in order for the economic house to get in order. 500 00:27:05,320 --> 00:27:07,320 Speaker 1: Those are three things that I see moving in a 501 00:27:07,320 --> 00:27:10,000 Speaker 1: positive direction, even though the stock market in the short 502 00:27:10,080 --> 00:27:13,120 Speaker 1: term as it is clearly. I start off the show 503 00:27:13,119 --> 00:27:16,200 Speaker 1: telling you exactly what's happening is down here is Barack 504 00:27:16,240 --> 00:27:21,679 Speaker 1: Obama demanding reciprocity and trade agreements with China. This has 505 00:27:21,760 --> 00:27:24,199 Speaker 1: cut six Barack Obama twenty eighteen. 506 00:27:24,280 --> 00:27:24,879 Speaker 3: When it comes to. 507 00:27:24,880 --> 00:27:29,159 Speaker 7: The international system of commerce and trade, it's legitimate for 508 00:27:29,280 --> 00:27:32,439 Speaker 7: poorer countries to continue to seek access to wealthier markets. 509 00:27:32,440 --> 00:27:35,640 Speaker 2: And by the way, wealthier markets, that's not the big. 510 00:27:35,440 --> 00:27:36,359 Speaker 3: Problem that you're having. 511 00:27:38,119 --> 00:27:41,879 Speaker 8: A small African country is sending you tea and flowers. 512 00:27:42,680 --> 00:27:46,400 Speaker 3: That's not your biggest economic challenge. It's also proper for. 513 00:27:46,400 --> 00:27:50,280 Speaker 7: Advanced economies like the United States to insist on reciprocity 514 00:27:50,680 --> 00:27:52,240 Speaker 7: for nations like China that. 515 00:27:52,240 --> 00:27:54,720 Speaker 3: Are no longer solely poor. 516 00:27:54,520 --> 00:27:57,920 Speaker 7: Countries to make sure that they're providing access to their markets. 517 00:28:00,119 --> 00:28:02,840 Speaker 1: So again, China has eaten our lunch phrase that Trump 518 00:28:02,920 --> 00:28:05,800 Speaker 1: has used quite a lot. China is saying they're going 519 00:28:05,840 --> 00:28:10,520 Speaker 1: to reciprocate with tariff increases on United States goods. But 520 00:28:10,600 --> 00:28:13,280 Speaker 1: I think the economic hand the United States has much 521 00:28:13,280 --> 00:28:16,080 Speaker 1: stronger right now than the economic hand that China has, 522 00:28:16,640 --> 00:28:19,720 Speaker 1: and I would suspect this is a prediction. I would 523 00:28:19,760 --> 00:28:23,680 Speaker 1: suspect that the phone lines are buzzing at the White 524 00:28:23,680 --> 00:28:26,679 Speaker 1: House and that there are a lot of countries that 525 00:28:26,760 --> 00:28:31,360 Speaker 1: want to unilaterally end their tariffs with the United States. 526 00:28:32,119 --> 00:28:35,560 Speaker 3: Some already have some. Israel, for example, which is not 527 00:28:35,680 --> 00:28:37,840 Speaker 3: a huge trading partner, but it's an important ally and 528 00:28:37,880 --> 00:28:41,160 Speaker 3: a trading partner. They've come out and said Prime Minister 529 00:28:41,200 --> 00:28:43,880 Speaker 3: Nan Yao said, look, we're just I like where Trump's 530 00:28:43,880 --> 00:28:45,400 Speaker 3: head is out on this. Let's get rid of it, 531 00:28:45,480 --> 00:28:48,280 Speaker 3: and we're going to deepen our relationship even more with 532 00:28:48,360 --> 00:28:51,640 Speaker 3: America on trade. So there's also been a willingness, I think, 533 00:28:51,640 --> 00:28:54,520 Speaker 3: to renegotiate some of the Canadian tariffs already, this is 534 00:28:54,520 --> 00:28:57,480 Speaker 3: already happening. And the other part of this is it's 535 00:28:57,480 --> 00:29:00,360 Speaker 3: a dynamic. This is what I meant play by. This 536 00:29:00,400 --> 00:29:03,600 Speaker 3: can be fixed. Right. This is not a you know, 537 00:29:03,640 --> 00:29:05,720 Speaker 3: this is not like the bombing of Pearl Harbor, where 538 00:29:06,040 --> 00:29:09,760 Speaker 3: once you start it you know it's going. Right, there's 539 00:29:10,040 --> 00:29:12,680 Speaker 3: the day to day of how is this looking in 540 00:29:12,720 --> 00:29:15,720 Speaker 3: the market, What does that other government do to respond? 541 00:29:16,200 --> 00:29:19,320 Speaker 3: And here's the thing. Whenever they are upset about this, 542 00:29:19,760 --> 00:29:22,360 Speaker 3: any country that has a tariff against the United States 543 00:29:22,720 --> 00:29:24,880 Speaker 3: on what grounds can they be upset about the United 544 00:29:24,920 --> 00:29:30,400 Speaker 3: States putting a tariff on their items? That's the entire 545 00:29:30,480 --> 00:29:33,320 Speaker 3: crux of this, right, I mean these really were in 546 00:29:33,400 --> 00:29:36,560 Speaker 3: the right. I mean Trump, I think, in general, would 547 00:29:36,680 --> 00:29:40,280 Speaker 3: prefer just an even playing field for American goods compared 548 00:29:40,280 --> 00:29:44,960 Speaker 3: to other goods, and so instead of us getting lots 549 00:29:44,960 --> 00:29:47,320 Speaker 3: of other countries, including China, to your point, I mean, yes, 550 00:29:47,360 --> 00:29:50,360 Speaker 3: look at the average income in China since nineteen eighty 551 00:29:50,400 --> 00:29:52,680 Speaker 3: The most of that money, to a large extent, that 552 00:29:52,720 --> 00:29:54,000 Speaker 3: money is coming off of. 553 00:29:54,080 --> 00:29:58,160 Speaker 1: Chinese goods being able to be bought by Americans and 554 00:29:58,200 --> 00:29:59,960 Speaker 1: the trade imbalance that that is created. 555 00:30:00,680 --> 00:30:02,280 Speaker 3: And then there's we didn't even get into this. Yet 556 00:30:02,280 --> 00:30:04,040 Speaker 3: we talked to I talked about it a bit yesterday, Clay, 557 00:30:04,920 --> 00:30:07,800 Speaker 3: when you were making Happy Gilmore look like a guy 558 00:30:07,840 --> 00:30:10,560 Speaker 3: who can't even can't hit you know what I mean 559 00:30:11,280 --> 00:30:14,560 Speaker 3: week swing Happy Gilmore compared to Clay. But we talked 560 00:30:14,560 --> 00:30:19,000 Speaker 3: about Steven Miller and how I played some of his 561 00:30:19,640 --> 00:30:22,600 Speaker 3: explanations of this. There's also a national security component of this. 562 00:30:22,680 --> 00:30:25,360 Speaker 3: How can anyone tell me it's not just that we 563 00:30:25,480 --> 00:30:28,720 Speaker 3: get a lot of our an I mean when I 564 00:30:28,720 --> 00:30:30,320 Speaker 3: say a lot, I think it's like eighty or ninety 565 00:30:30,320 --> 00:30:35,160 Speaker 3: percent of different kinds of antibiotics and other whether it's 566 00:30:35,200 --> 00:30:39,239 Speaker 3: precursors for computer chips or just a huge range. I mean, 567 00:30:39,240 --> 00:30:42,320 Speaker 3: I can't even begin to ex to run off the 568 00:30:42,400 --> 00:30:47,040 Speaker 3: list of what we rely on China for. Imagine if 569 00:30:47,120 --> 00:30:49,720 Speaker 3: during the Cold War we said to people, you know what, 570 00:30:49,760 --> 00:30:54,680 Speaker 3: we need to rely on the Soviets for antibiotics. We 571 00:30:54,760 --> 00:30:58,720 Speaker 3: need to rely on the Soviets for you know, simple 572 00:30:58,800 --> 00:31:01,880 Speaker 3: manufactured goods that are going to be necessary for us 573 00:31:02,320 --> 00:31:06,320 Speaker 3: in a long conflict. People haven't paid enough attention to 574 00:31:06,360 --> 00:31:09,200 Speaker 3: this in my mind, Clay, that there have been concerns 575 00:31:09,320 --> 00:31:13,520 Speaker 3: from the US military, from the Pentagon all along about 576 00:31:13,520 --> 00:31:17,080 Speaker 3: how long we can even sustain the arm shipments to 577 00:31:17,240 --> 00:31:22,120 Speaker 3: Ukraine stretching art Think about that, the Ukrainian war is 578 00:31:22,200 --> 00:31:26,760 Speaker 3: stretching our war supply chain capability. 579 00:31:27,000 --> 00:31:27,120 Speaker 2: Now. 580 00:31:27,120 --> 00:31:29,200 Speaker 3: I understand it's far away, but the point is we 581 00:31:29,280 --> 00:31:32,800 Speaker 3: can't make enough artillery rounds fast enough right now. So 582 00:31:33,360 --> 00:31:36,120 Speaker 3: domestic industry is more than just whether you can buy 583 00:31:36,200 --> 00:31:38,120 Speaker 3: cheap flat screen TVs is the point, and I think 584 00:31:38,120 --> 00:31:40,080 Speaker 3: Steven Miller's been hitting that point hard. 585 00:31:40,400 --> 00:31:42,400 Speaker 1: Not only that, I mean I've raised the question and 586 00:31:42,400 --> 00:31:44,480 Speaker 1: I think it's a really tough one that nobody has 587 00:31:44,520 --> 00:31:50,040 Speaker 1: an answer for what happens if China actually invades Taiwan, if. 588 00:31:49,880 --> 00:31:51,040 Speaker 2: We had a war start. 589 00:31:51,440 --> 00:31:54,520 Speaker 1: Our reliance on China to produce many of the goods 590 00:31:54,560 --> 00:31:58,080 Speaker 1: that the United States has to have is actually, I 591 00:31:58,120 --> 00:32:01,960 Speaker 1: think maybe buck the largest now national security issue we have. 592 00:32:02,480 --> 00:32:05,240 Speaker 1: Leaving a side, Look, somebody could get a nuclear weapon 593 00:32:05,280 --> 00:32:07,760 Speaker 1: and set it off somewhere around the world, right I'm 594 00:32:07,800 --> 00:32:12,480 Speaker 1: talking about in a state actor situation. The danger of 595 00:32:12,600 --> 00:32:16,640 Speaker 1: China controlling so much of the flow of American commerce 596 00:32:16,960 --> 00:32:20,800 Speaker 1: is that if they decided to engage in some nefarious action, 597 00:32:21,040 --> 00:32:23,080 Speaker 1: we just have to wear it. I think, because we 598 00:32:23,080 --> 00:32:26,040 Speaker 1: don't have the ability to produce our own products without 599 00:32:26,120 --> 00:32:27,360 Speaker 1: China being involved. 600 00:32:27,480 --> 00:32:31,120 Speaker 3: No, I think we rely a lot on the Taiwanese 601 00:32:31,160 --> 00:32:35,000 Speaker 3: being able to extract such a high price from a 602 00:32:35,160 --> 00:32:38,280 Speaker 3: Chinese invasion of and well, but probably there's a lot 603 00:32:38,320 --> 00:32:39,800 Speaker 3: of different theories on this. There's a lot of war 604 00:32:39,840 --> 00:32:42,840 Speaker 3: gaming around this. What China would most likely do, in 605 00:32:43,240 --> 00:32:46,920 Speaker 3: my view, is they would try to just launch missile 606 00:32:47,120 --> 00:32:50,720 Speaker 3: and air strikes, missile strikes and pummel the island into 607 00:32:50,720 --> 00:32:53,600 Speaker 3: submission as much as possible, and then maybe they would 608 00:32:53,680 --> 00:32:59,040 Speaker 3: try some kind of an amphibious landing operation. Which you know, 609 00:32:59,240 --> 00:33:01,960 Speaker 3: Taiwan is not big compared to China, but it's obviously 610 00:33:02,040 --> 00:33:06,719 Speaker 3: very sophisticated technologically, and it's it's a rough country to invade, 611 00:33:06,800 --> 00:33:08,040 Speaker 3: the back eastern. 612 00:33:07,680 --> 00:33:08,040 Speaker 2: Half of it. 613 00:33:08,080 --> 00:33:09,960 Speaker 3: There's a lot it's very rugged, there's a lot of mountains. 614 00:33:10,320 --> 00:33:13,280 Speaker 3: I'm just saying that we're really relying a lot on 615 00:33:13,880 --> 00:33:17,560 Speaker 3: the Taiwanese making it ugly for China, much more so 616 00:33:17,600 --> 00:33:19,480 Speaker 3: than I think we would just be able to ride 617 00:33:19,480 --> 00:33:21,480 Speaker 3: in like the cavalry in a Western movie and save 618 00:33:21,560 --> 00:33:23,480 Speaker 3: the day. Would not be It would not be easy 619 00:33:23,600 --> 00:33:26,320 Speaker 3: or fun for anyone, And that's putting it mildly. 620 00:33:26,720 --> 00:33:28,360 Speaker 1: We'll take some of your calls. We come back eight 621 00:33:28,440 --> 00:33:30,040 Speaker 1: hundred and two A two two eight A two. We 622 00:33:30,120 --> 00:33:32,760 Speaker 1: got a stacked load of awesome guests, including a couple 623 00:33:32,800 --> 00:33:37,160 Speaker 1: of different senators and a Final Four coach, among others. 624 00:33:37,200 --> 00:33:40,560 Speaker 1: Weekend holy grail for college basketball fans. Final Four coming 625 00:33:40,600 --> 00:33:44,600 Speaker 1: two big games Saturday, Championship Monday. You can download the 626 00:33:44,600 --> 00:33:47,000 Speaker 1: price Picks app right now. Have so much more fun 627 00:33:47,440 --> 00:33:50,240 Speaker 1: playing along with the Final Four. And you know, it's 628 00:33:50,320 --> 00:33:52,840 Speaker 1: kind of sad. My Atlanta Braves have started off the 629 00:33:52,880 --> 00:33:55,000 Speaker 1: season zero to seven. They have yet to win a 630 00:33:55,000 --> 00:33:58,560 Speaker 1: baseball game. Padre swept them, Dodger swept them. Maybe they 631 00:33:58,560 --> 00:34:01,360 Speaker 1: were finally going to get a win against Buck Area, 632 00:34:01,760 --> 00:34:05,640 Speaker 1: lowly Miami Marlins playing tonight. I believe, if I'm not mistaken, 633 00:34:05,680 --> 00:34:07,240 Speaker 1: I think my son's going to be at that game 634 00:34:07,280 --> 00:34:09,839 Speaker 1: with a bunch of his friends. On the price Picks 635 00:34:09,840 --> 00:34:12,200 Speaker 1: app right now, you can play along all over the place. 636 00:34:12,200 --> 00:34:14,080 Speaker 1: You can play in California, you can play in Texas, 637 00:34:14,080 --> 00:34:16,439 Speaker 1: you can play in Georgia. Get hooked up right now 638 00:34:16,480 --> 00:34:20,080 Speaker 1: pricepicks dot Com code Clay. You get fifty dollars when 639 00:34:20,120 --> 00:34:24,360 Speaker 1: you play five dollars again. It is pricepicks dot Com 640 00:34:24,400 --> 00:34:28,080 Speaker 1: code Clay fifty dollars when you pay when you play 641 00:34:28,120 --> 00:34:31,960 Speaker 1: five dollars Price picks dot Com Code Clay, MasterCard, Visa Discover. 642 00:34:32,360 --> 00:34:36,400 Speaker 1: Easy to get your deposits in pricepicks dot Com Code Clay. 643 00:34:37,120 --> 00:34:39,920 Speaker 4: Cheek out with the guys on the Sunday Hang with 644 00:34:40,080 --> 00:34:43,880 Speaker 4: Clay and Buck podcast, a new episode every Sunday. Find 645 00:34:43,920 --> 00:34:46,839 Speaker 4: it on the iheartapp or wherever you get your podcasts. 646 00:34:47,000 --> 00:34:49,360 Speaker 3: Welcome back into Clay and Buck. We're talking to tariffs. 647 00:34:49,400 --> 00:34:53,960 Speaker 3: It is Post Liberation Day from earlier this week, and 648 00:34:54,000 --> 00:34:56,640 Speaker 3: the markets are getting clobbered. But you know what, we 649 00:34:56,719 --> 00:34:58,680 Speaker 3: thought that would happen. Trump thought that would happen. He's 650 00:34:58,760 --> 00:35:01,360 Speaker 3: very sanguine about the whole thing. Trump kind of a 651 00:35:01,400 --> 00:35:04,520 Speaker 3: sanguine guy in general. But he is uh, he is 652 00:35:04,640 --> 00:35:07,879 Speaker 3: just he is just chilling. He is not worried about this. 653 00:35:08,520 --> 00:35:10,960 Speaker 3: And we have some calls coming in here and some 654 00:35:11,000 --> 00:35:14,040 Speaker 3: talkbacks coming in here, which I want to get to. Uh, 655 00:35:14,160 --> 00:35:18,520 Speaker 3: let's see Carrie. You are first up, Carrie and Holland Michigan. 656 00:35:18,600 --> 00:35:19,160 Speaker 3: What's going on? 657 00:35:20,680 --> 00:35:21,680 Speaker 9: How are you guys. 658 00:35:22,520 --> 00:35:24,680 Speaker 3: Carry's a great name, by the way, a great name, 659 00:35:24,719 --> 00:35:26,600 Speaker 3: some people say maybe the best lady's name. 660 00:35:26,680 --> 00:35:30,040 Speaker 9: Go ahead, Yes, your wife is lovely buck. 661 00:35:30,640 --> 00:35:31,080 Speaker 3: Thank you. 662 00:35:33,200 --> 00:35:37,600 Speaker 9: I am in Holland, Michigan, and I just wanted first, 663 00:35:37,600 --> 00:35:39,200 Speaker 9: I wanted to say love the show. I listen to 664 00:35:39,239 --> 00:35:40,239 Speaker 9: you guys every day at work. 665 00:35:40,800 --> 00:35:43,040 Speaker 3: Well, you have excellent taste in radio. Thank you. 666 00:35:45,640 --> 00:35:48,839 Speaker 9: So I am not happy about seeing my investments go down. 667 00:35:48,880 --> 00:35:51,759 Speaker 9: Nobody is pushing sixty. I want to retire in a 668 00:35:51,800 --> 00:35:54,600 Speaker 9: few years, and unfortunately I have to pay attention to 669 00:35:54,600 --> 00:35:57,360 Speaker 9: the stock market because I work in the financial investments industry. 670 00:35:57,960 --> 00:36:03,480 Speaker 9: But I understand this rategic calculation. Trump wants to bring 671 00:36:03,640 --> 00:36:07,480 Speaker 9: manufacturing back to America and he's shocking the system to 672 00:36:07,560 --> 00:36:11,480 Speaker 9: do it. And ultimately will it work. I don't know. 673 00:36:11,560 --> 00:36:14,200 Speaker 9: I don't have a crystal ball, but I understand the 674 00:36:14,280 --> 00:36:18,920 Speaker 9: strategy and I'm supportive of it. Right now, I'm not 675 00:36:19,040 --> 00:36:22,279 Speaker 9: panicking at this point, and let's just see how this 676 00:36:22,360 --> 00:36:24,840 Speaker 9: plays out. A lot of the people who are yelling 677 00:36:24,880 --> 00:36:27,680 Speaker 9: at me in my life are people who said nothing 678 00:36:28,360 --> 00:36:31,839 Speaker 9: during the open border Biden years and everything we found 679 00:36:31,840 --> 00:36:34,080 Speaker 9: out about the Biden selling us out to China to 680 00:36:34,120 --> 00:36:36,480 Speaker 9: line their own pockets, and now suddenly they're upset. So 681 00:36:36,520 --> 00:36:40,400 Speaker 9: I just let that roll off. Of me, but I 682 00:36:40,480 --> 00:36:42,680 Speaker 9: understand the strategy. I think Trump knows what he's doing. 683 00:36:42,760 --> 00:36:44,200 Speaker 9: I think he's got a lot of smart people in 684 00:36:44,239 --> 00:36:45,839 Speaker 9: the room, and I'm willing to let it play out. 685 00:36:46,360 --> 00:36:48,320 Speaker 1: Terry, That's how I mean, That's how I feel, too, Clay, 686 00:36:48,480 --> 00:36:50,640 Speaker 1: you coach out on the stone Hall. I was just 687 00:36:50,680 --> 00:36:52,440 Speaker 1: going to hit a couple more talkbacks, a lot of 688 00:36:52,440 --> 00:36:54,799 Speaker 1: people weighing in. Great call from Carrie. I just saw 689 00:36:54,800 --> 00:36:57,520 Speaker 1: a movie about Holland Michigan, I think with Nicole Kidman. 690 00:36:58,239 --> 00:37:01,680 Speaker 1: They filmed it here in Nashville. It's literally called Holland Michigan. 691 00:37:01,719 --> 00:37:05,080 Speaker 3: I think just she's no Sydney Sweeney, though, Clay, she 692 00:37:05,160 --> 00:37:06,040 Speaker 3: has no Sidney Sweeney. 693 00:37:06,080 --> 00:37:06,439 Speaker 2: That's true. 694 00:37:06,480 --> 00:37:08,080 Speaker 1: She could have been the evil Witch, would have been 695 00:37:08,120 --> 00:37:12,480 Speaker 1: any good evil Witch. Listener Jerry san Diego, which got forced? 696 00:37:12,520 --> 00:37:16,200 Speaker 8: Jerry, I think the Terris are a good thing. I 697 00:37:16,239 --> 00:37:18,759 Speaker 8: bought in the market right now. Walt's getting low. You 698 00:37:18,840 --> 00:37:20,200 Speaker 8: got a feeling that's going to pay off in the 699 00:37:20,239 --> 00:37:22,839 Speaker 8: long run. So I'm spying and low and holding, so 700 00:37:23,320 --> 00:37:24,640 Speaker 8: staying positive. 701 00:37:24,160 --> 00:37:26,600 Speaker 1: With it, Okay, Buck, This just ties in with what 702 00:37:26,719 --> 00:37:29,840 Speaker 1: we were talking about off air, the average retail investor 703 00:37:29,960 --> 00:37:34,360 Speaker 1: buying stock big hedge funds, big investment banks selling stock. 704 00:37:34,400 --> 00:37:36,160 Speaker 1: You hit us with that data point, which I thought 705 00:37:36,160 --> 00:37:36,960 Speaker 1: was kind of interesting. 706 00:37:37,360 --> 00:37:39,960 Speaker 3: Yeah, that's what they're reporting right now. And so I 707 00:37:40,000 --> 00:37:44,400 Speaker 3: guess a lot of the financial financial wizards who are 708 00:37:44,440 --> 00:37:46,359 Speaker 3: supposed to be able to time the markets, which Ward 709 00:37:46,400 --> 00:37:49,040 Speaker 3: Buffett I would tell you says nobody can do. But 710 00:37:49,760 --> 00:37:52,400 Speaker 3: they're getting out, some of them, and they're worried because 711 00:37:52,400 --> 00:37:54,759 Speaker 3: they don't want to have a twenty percent correction for 712 00:37:54,840 --> 00:37:57,360 Speaker 3: the next year. Remember, they live quarter to quarter. A 713 00:37:57,360 --> 00:37:59,799 Speaker 3: lot of other people we're talking about retirement, talking about 714 00:37:59,800 --> 00:38:03,040 Speaker 3: trum to just slowly build wealth by investing in the 715 00:38:03,080 --> 00:38:07,360 Speaker 3: American economy, which means you know, mutual funds, broad based ETFs, 716 00:38:07,360 --> 00:38:09,759 Speaker 3: things like that. If you're thinking in five or ten 717 00:38:09,840 --> 00:38:13,960 Speaker 3: year increments, which is in my opinion, how most day 718 00:38:14,000 --> 00:38:16,560 Speaker 3: to day investors should be must be thinking. You do 719 00:38:16,680 --> 00:38:19,239 Speaker 3: not want to be unless you're very sophisticated and have 720 00:38:19,280 --> 00:38:23,200 Speaker 3: some real insight dud like day trading Clay. We're going 721 00:38:23,280 --> 00:38:24,879 Speaker 3: to see who's right or who's wrong. That's the thing. 722 00:38:24,880 --> 00:38:26,640 Speaker 3: We don't have to guess for long on this one. 723 00:38:26,640 --> 00:38:29,239 Speaker 3: We're going to start to see what actually happens. Let's 724 00:38:29,239 --> 00:38:31,800 Speaker 3: take some more. We got more calls and more talkbacks 725 00:38:31,840 --> 00:38:33,920 Speaker 3: coming up because it's a big issue. Let's hear from 726 00:38:33,920 --> 00:38:35,839 Speaker 3: all of you. Light up the lines. We'll come right back.