1 00:00:11,440 --> 00:00:15,680 Speaker 1: Broadcasting live from the Abraham Lincoln Radio Studio the George 2 00:00:15,800 --> 00:00:19,840 Speaker 1: Washington Broadcast Center. Jack Armstrong and Joe Getty. 3 00:00:19,760 --> 00:00:22,239 Speaker 2: Arm Strong and get Ki and no Hee. 4 00:00:24,960 --> 00:00:38,440 Speaker 3: Armstrong and Getty strong Man. Welcome to a replay of 5 00:00:38,520 --> 00:00:42,080 Speaker 3: the Armstrong and Getty Show. We are on vacation, but boy, 6 00:00:42,120 --> 00:00:44,400 Speaker 3: do we have some good stuff for you. Yes, indeed 7 00:00:44,479 --> 00:00:46,120 Speaker 3: we do. And if you want to catch up on 8 00:00:46,159 --> 00:00:49,479 Speaker 3: your ang listening during your travels, remember grabbing podcast Armstrong 9 00:00:49,520 --> 00:00:51,360 Speaker 3: and Getty on demand. You ought to subscribe wherever you 10 00:00:51,440 --> 00:00:56,160 Speaker 3: like to get podcasts. Now on with the infotainment. Some 11 00:00:56,280 --> 00:00:57,120 Speaker 3: breaking news just. 12 00:00:57,120 --> 00:00:59,800 Speaker 4: Out of our newsroom here at Fox thirteen. A man 13 00:00:59,840 --> 00:01:02,680 Speaker 4: is in the hospital after being shot in the leg overnight. 14 00:01:02,960 --> 00:01:07,880 Speaker 4: If the police say he was shot by his dog, seriously, 15 00:01:08,640 --> 00:01:12,520 Speaker 4: I don't think that's right. This happened just before four 16 00:01:12,600 --> 00:01:16,520 Speaker 4: am at a home on Whitney Avenue in Fraser Wow. 17 00:01:16,800 --> 00:01:19,679 Speaker 4: Police say the man was lying in the bed with 18 00:01:19,760 --> 00:01:22,640 Speaker 4: a girl with a gun on the bed. Police say 19 00:01:22,880 --> 00:01:26,479 Speaker 4: his dog jumped up on the bed, got his paul 20 00:01:26,560 --> 00:01:30,640 Speaker 4: stuck in the trigger and ended up hitting the trigger, 21 00:01:31,520 --> 00:01:33,000 Speaker 4: shooting the man in the thigh. 22 00:01:33,080 --> 00:01:34,240 Speaker 3: Wow accident. 23 00:01:34,319 --> 00:01:37,920 Speaker 5: Yeah, so the dog claims you pretend to throw the 24 00:01:37,920 --> 00:01:40,520 Speaker 5: tennis ball, you stick it in the couch cushion one 25 00:01:40,560 --> 00:01:41,560 Speaker 5: too many times? 26 00:01:42,040 --> 00:01:44,800 Speaker 3: Right, And Dora, I'm supposed to be there in the 27 00:01:44,840 --> 00:01:48,760 Speaker 3: bed next to you. And who's this? Huh? You cheating bastard. 28 00:01:48,840 --> 00:01:51,040 Speaker 3: When's the last time I went for a walk? Can 29 00:01:51,080 --> 00:01:58,400 Speaker 3: you even remember? Pow? Wow wow, bad boy, bad dog. 30 00:01:59,200 --> 00:02:02,320 Speaker 5: The dog ties him to a chair like reservoir dogs. 31 00:02:02,600 --> 00:02:03,840 Speaker 5: I'm not putting up with this anymore. 32 00:02:04,000 --> 00:02:08,280 Speaker 3: Right, Wait, so Jack Michael, do we have that the 33 00:02:08,760 --> 00:02:12,840 Speaker 3: two rappers were talking and gunshots went off? That's a 34 00:02:12,960 --> 00:02:15,760 Speaker 3: candidate for clip of the year. So I like the way. 35 00:02:15,960 --> 00:02:18,360 Speaker 5: Clearly this news anchor who's got a bit of a 36 00:02:18,560 --> 00:02:20,639 Speaker 5: kent Brockman Will Ferrell vibe. 37 00:02:22,000 --> 00:02:22,600 Speaker 3: Yes he does. 38 00:02:22,600 --> 00:02:26,240 Speaker 5: Apparently was just handed this breaking news not knowing he 39 00:02:26,320 --> 00:02:27,799 Speaker 5: was about to do a story about a man who 40 00:02:27,840 --> 00:02:32,320 Speaker 5: was shot by a dog at four am. Yeah, so 41 00:02:33,000 --> 00:02:37,880 Speaker 5: could happen. It's also possible that he was messing around 42 00:02:37,880 --> 00:02:41,000 Speaker 5: with his gun, or she shot him or something. They 43 00:02:41,000 --> 00:02:44,800 Speaker 5: don't want to tell anybody what actually happened, right, Yeah. 44 00:02:44,680 --> 00:02:47,639 Speaker 3: That's that's at least, although you know, it's not implausible 45 00:02:47,720 --> 00:02:50,880 Speaker 3: that if you are living the lifestyle where you're lying 46 00:02:50,919 --> 00:02:53,520 Speaker 3: in bed with quote unquote a girl who wrote that story? 47 00:02:53,560 --> 00:02:57,120 Speaker 3: Do they need a woman? I would hope. And there's 48 00:02:57,160 --> 00:03:00,960 Speaker 3: a gun laying there for some reason, you can't put 49 00:03:00,960 --> 00:03:03,880 Speaker 3: it on the nightstand even Yeah, you're living the sort 50 00:03:03,880 --> 00:03:06,360 Speaker 3: of lifestyle where your dog shoots. Maybe he or she 51 00:03:06,600 --> 00:03:09,960 Speaker 3: likes the gun pointed at them during their romantic times. Oh, 52 00:03:10,000 --> 00:03:12,560 Speaker 3: good lord, remember seeing. 53 00:03:11,800 --> 00:03:14,359 Speaker 5: No I remember seeing that in the Sopranos, Remember one 54 00:03:14,360 --> 00:03:16,480 Speaker 5: of them. Somebody liked having a gun to their head. 55 00:03:16,840 --> 00:03:20,960 Speaker 3: Tawdry? Its way too tawdry. No, a dog just shot someone. 56 00:03:22,720 --> 00:03:25,359 Speaker 3: This is time for frank talk. The pets are rising 57 00:03:25,440 --> 00:03:31,080 Speaker 3: up as I predicted. Go ahead, Michael, and choices we 58 00:03:31,160 --> 00:03:33,240 Speaker 3: got in life, those were your choices. 59 00:03:37,800 --> 00:03:42,000 Speaker 2: Somebody got shot. Oh how good? 60 00:03:44,360 --> 00:03:46,720 Speaker 3: Hold on the dirty dead? What do I want with 61 00:03:46,880 --> 00:03:47,480 Speaker 3: my idea? 62 00:03:47,640 --> 00:03:48,920 Speaker 2: Don't shut me? 63 00:03:51,880 --> 00:03:56,080 Speaker 3: Everybody, everybody, everybody that's the sort of guy who's in 64 00:03:56,120 --> 00:03:58,880 Speaker 3: bed with a girl and a dog shoots. They have 65 00:03:59,040 --> 00:04:05,400 Speaker 3: a much more relaxed, lighthearted view of shootings in the room. 66 00:04:05,480 --> 00:04:10,520 Speaker 3: On fire, shootings in the room. I mean, it's not 67 00:04:10,560 --> 00:04:14,480 Speaker 3: even an accidental shooting at the range or outdoors or something. 68 00:04:14,480 --> 00:04:16,240 Speaker 3: We're in a room with a number of people, A 69 00:04:16,320 --> 00:04:21,560 Speaker 3: gun guts off. Somebody's been shot. You good, I've been shot? 70 00:04:23,240 --> 00:04:26,560 Speaker 3: You good? You good? Everybody good? Okay, So as I 71 00:04:26,680 --> 00:04:30,040 Speaker 3: was saying, why you've different a different lifestyle than I have? 72 00:04:32,120 --> 00:04:33,600 Speaker 3: Who shot? Who? 73 00:04:34,120 --> 00:04:34,880 Speaker 2: Somebody got shot? 74 00:04:35,040 --> 00:04:41,880 Speaker 3: All right? Anyway, what are your plans today? You guys hungry? 75 00:04:41,920 --> 00:04:43,800 Speaker 3: I'm hungry? Yeah? Crazy? 76 00:04:43,839 --> 00:04:45,279 Speaker 5: Can I want to hear that other one, just the 77 00:04:45,279 --> 00:04:48,719 Speaker 5: beginning part where the news anchor gets to the because 78 00:04:48,720 --> 00:04:49,680 Speaker 5: I just find this funny. 79 00:04:50,560 --> 00:04:52,479 Speaker 4: We want to get you to some breaking news just 80 00:04:52,560 --> 00:04:55,200 Speaker 4: out of our newsroom here at Fox thirteen. A man 81 00:04:55,320 --> 00:04:57,560 Speaker 4: is in the hospital after being shot in the leg 82 00:04:57,640 --> 00:05:03,320 Speaker 4: overnight if his police say he was shot his dog. Seriously, 83 00:05:04,080 --> 00:05:08,360 Speaker 4: I don't think that's right. This happened just before four am. 84 00:05:08,880 --> 00:05:09,560 Speaker 3: Heah, you don't know. 85 00:05:09,640 --> 00:05:12,760 Speaker 4: The dog Hitney Avenue in the Fraser Wow. Police say 86 00:05:12,760 --> 00:05:15,640 Speaker 4: the man was lying in the bed with a girl 87 00:05:16,000 --> 00:05:19,040 Speaker 4: with a gun on the bed. Police say his dog 88 00:05:19,440 --> 00:05:22,400 Speaker 4: jumped up on the bed, got his paul stuck in 89 00:05:22,440 --> 00:05:27,520 Speaker 4: the trigger and ended up hitting the trigger, shooting the 90 00:05:27,560 --> 00:05:28,440 Speaker 4: man in the thigh. 91 00:05:28,520 --> 00:05:34,520 Speaker 3: Wow. Four in the morning. I ain't eating lambon rice anymore. 92 00:05:34,640 --> 00:05:41,360 Speaker 3: Give me some real freaking food. Was it a hunting dog? Oh? 93 00:05:41,880 --> 00:05:45,480 Speaker 5: Boy, so there's actual love and of course some background checks. 94 00:05:45,480 --> 00:05:47,560 Speaker 5: We don't know any of those things. Gun loopholes, what 95 00:05:47,640 --> 00:05:48,160 Speaker 5: went on there? 96 00:05:49,400 --> 00:05:52,320 Speaker 3: Wow? Wow? Well, and if I was going to make 97 00:05:52,320 --> 00:05:54,560 Speaker 3: a serious point about it, that's the very sort of 98 00:05:54,600 --> 00:05:59,239 Speaker 3: person the Democratic prosecutors would never enforce gun laws against. 99 00:06:00,560 --> 00:06:06,040 Speaker 3: They howl for more gun laws constantly. And then I'm confused. 100 00:06:06,560 --> 00:06:09,279 Speaker 3: You know what I walked into that didn't I? Yes, 101 00:06:09,400 --> 00:06:11,279 Speaker 3: you know, Perhaps it's best to just move on to 102 00:06:11,360 --> 00:06:14,880 Speaker 3: other fair I don't know why I enjoy giving jiv 103 00:06:15,120 --> 00:06:18,680 Speaker 3: names to features sets of stories, but I do. Jack, 104 00:06:18,760 --> 00:06:24,160 Speaker 3: So you get the choice between golden state of confusion 105 00:06:25,240 --> 00:06:30,920 Speaker 3: or how markets really work, I'll go much more sober 106 00:06:32,279 --> 00:06:34,719 Speaker 3: just because the lack of jiviness. I'm just curious after 107 00:06:34,760 --> 00:06:39,080 Speaker 3: the ridiculousness. Yeah, okay, So story number one why the 108 00:06:39,120 --> 00:06:42,400 Speaker 3: US keeps losing to China in the battle over critical 109 00:06:42,520 --> 00:06:48,240 Speaker 3: minerals Because everybody knows that the minerals, the rarest the 110 00:06:48,480 --> 00:06:52,120 Speaker 3: metals everybody's talking about that go into so much new technology. 111 00:06:52,880 --> 00:06:57,080 Speaker 3: He or they who control access to those things controls 112 00:06:57,080 --> 00:07:00,160 Speaker 3: the world economy to a large extent, And the obvious 113 00:07:01,000 --> 00:07:03,440 Speaker 3: issue with that is that if we continue to be 114 00:07:03,680 --> 00:07:06,760 Speaker 3: highly dependent on China to come up with those materials. 115 00:07:06,800 --> 00:07:08,960 Speaker 3: We're screwed as an economy the minute they decide to 116 00:07:09,000 --> 00:07:13,000 Speaker 3: tweak us or bring us to our knees. So you 117 00:07:13,080 --> 00:07:16,680 Speaker 3: have this story of the effort to get a big 118 00:07:16,760 --> 00:07:24,120 Speaker 3: giant New America and our allies run graphite mine and 119 00:07:25,600 --> 00:07:29,080 Speaker 3: the goal to challenge China's dominance over the world supply 120 00:07:29,120 --> 00:07:31,840 Speaker 3: of a critical mineral used in everything from electric vehicles 121 00:07:31,880 --> 00:07:37,640 Speaker 3: to submarine hubs. And so this Australia based mining company, 122 00:07:37,920 --> 00:07:41,600 Speaker 3: backed by more than one hundred million dollars of US 123 00:07:41,640 --> 00:07:47,280 Speaker 3: government financing, maybe a worthy goal. Kind of funny, there 124 00:07:47,320 --> 00:07:49,240 Speaker 3: wasn't any discussion of this, but this is what our 125 00:07:49,240 --> 00:07:53,080 Speaker 3: giant government does. Opened a mine in Mozambique and built 126 00:07:53,080 --> 00:07:56,160 Speaker 3: a graphite processing plant in Louisiana, the first of its 127 00:07:56,200 --> 00:07:58,880 Speaker 3: type in the US, and also signed a sales deal 128 00:07:58,880 --> 00:08:02,080 Speaker 3: with Tesla, which is historically brought graph height for cars 129 00:08:02,080 --> 00:08:05,200 Speaker 3: from China for the batteries specifically. But then things started 130 00:08:05,200 --> 00:08:07,080 Speaker 3: to go off the rails. China, which provides more than 131 00:08:07,160 --> 00:08:09,880 Speaker 3: ninety percent of the world's battery grade graph height supply, 132 00:08:10,480 --> 00:08:11,560 Speaker 3: jacked up its production. 133 00:08:11,840 --> 00:08:14,840 Speaker 5: How many what did the market? How many stories include 134 00:08:14,920 --> 00:08:21,960 Speaker 5: China supplies ninety eight percent of this or that way 135 00:08:22,000 --> 00:08:22,440 Speaker 5: too many. 136 00:08:24,040 --> 00:08:28,680 Speaker 3: And whether Trump's plans bear fruit or not, and whether 137 00:08:28,720 --> 00:08:31,520 Speaker 3: He's allowed to even get the plans going fully is 138 00:08:31,560 --> 00:08:34,240 Speaker 3: anybody's guess. But this is the very sort of thing 139 00:08:34,800 --> 00:08:37,600 Speaker 3: that he and his advisors are trying to wean us 140 00:08:37,600 --> 00:08:40,040 Speaker 3: from this sort of dependence. But anyway, the gist of 141 00:08:40,040 --> 00:08:42,920 Speaker 3: the story is so China, which provides more ninety percent 142 00:08:43,000 --> 00:08:45,960 Speaker 3: of the world's battery grade graph height supply, jacked up 143 00:08:45,960 --> 00:08:49,520 Speaker 3: its production, flooding the market and driving prices so low 144 00:08:50,000 --> 00:08:54,040 Speaker 3: that this mine, this company could not mine profitably. Wow. 145 00:08:54,520 --> 00:08:58,680 Speaker 3: Last May, the Biden administration delayed new rules that would 146 00:08:58,679 --> 00:09:02,680 Speaker 3: have penalized US buyers from buying Chinese graphite for reasons 147 00:09:02,679 --> 00:09:04,800 Speaker 3: that I don't recall, probably because they were trying to 148 00:09:04,800 --> 00:09:08,960 Speaker 3: get Shijin Ping to do something. In Mozambique, farmers resettled 149 00:09:08,960 --> 00:09:13,600 Speaker 3: from the mining company's mind staged protests, shutting down the mining, 150 00:09:14,400 --> 00:09:17,000 Speaker 3: and the Louisiana plant, now open for a year, has 151 00:09:17,080 --> 00:09:19,760 Speaker 3: yet to make its first commercial sale, and the company's 152 00:09:19,760 --> 00:09:22,600 Speaker 3: stock is plunged by around ninety percent since the start 153 00:09:22,640 --> 00:09:23,600 Speaker 3: of twenty twenty three. 154 00:09:23,800 --> 00:09:27,960 Speaker 5: Wow, that's really interesting and once again the difficulties of 155 00:09:28,000 --> 00:09:32,839 Speaker 5: a an authoritarian country where one guy can make decisions 156 00:09:32,840 --> 00:09:33,720 Speaker 5: in a democracy. 157 00:09:35,400 --> 00:09:38,800 Speaker 3: That's tough. Yeah, and as always, there's a lot more 158 00:09:38,800 --> 00:09:42,400 Speaker 3: detail and nuance to it, but we'll leave it here. 159 00:09:42,600 --> 00:09:44,679 Speaker 3: I love, love, love, love love the free market in 160 00:09:44,720 --> 00:09:48,280 Speaker 3: so many ways. It's lifted billions of people out of poverty, 161 00:09:48,520 --> 00:09:52,280 Speaker 3: on lace new medicines across the globe. It has profit 162 00:09:52,520 --> 00:09:56,439 Speaker 3: is the reason for charity. It's the reason charity exists. 163 00:09:56,760 --> 00:09:59,000 Speaker 3: You have to have more than you need to feed 164 00:09:59,040 --> 00:10:05,080 Speaker 3: yourself to to give to charity. Anyway, as we retrench 165 00:10:05,160 --> 00:10:09,240 Speaker 3: from the dream of globalization, though, there are going to 166 00:10:09,280 --> 00:10:11,320 Speaker 3: be some rainings in of the free market, and it's 167 00:10:11,360 --> 00:10:13,000 Speaker 3: going to be stops and starts. It's going to be 168 00:10:13,000 --> 00:10:15,840 Speaker 3: really difficult anyway not to get hung up on that, 169 00:10:15,920 --> 00:10:17,319 Speaker 3: because you could talk about it for a year and 170 00:10:17,360 --> 00:10:19,760 Speaker 3: a half and write five thousand page books on it 171 00:10:19,800 --> 00:10:22,640 Speaker 3: and not cover it. I thought this was interesting, how 172 00:10:22,679 --> 00:10:25,560 Speaker 3: markets really are. Jack the rise and fall of the 173 00:10:25,679 --> 00:10:30,439 Speaker 3: Napa Valley of Cannabis. When Colorado became one of the 174 00:10:30,440 --> 00:10:34,599 Speaker 3: first states to legalize a recreational marriage. You wanna and 175 00:10:34,640 --> 00:10:38,160 Speaker 3: an enthusiastic county commissioner in Pueblo said he wanted Pueblo 176 00:10:38,240 --> 00:10:42,480 Speaker 3: to become the Napa Valley of cannabis. And they talk 177 00:10:42,520 --> 00:10:44,680 Speaker 3: a little bit in the Wall Street Journal about the situation. 178 00:10:44,760 --> 00:10:47,600 Speaker 3: Big slaughterhouse had closed years earlier, steel mill had been 179 00:10:47,600 --> 00:10:51,360 Speaker 3: shedding workers. They're really hurting for jobs and tax revenue, 180 00:10:51,360 --> 00:10:55,240 Speaker 3: and a cannabis boom would do that for them. The 181 00:10:55,240 --> 00:10:58,240 Speaker 3: streets were going to be paved with gold, recalled one resident. 182 00:10:58,280 --> 00:11:00,240 Speaker 3: The elementary schools were going to be the great just 183 00:11:00,360 --> 00:11:04,480 Speaker 3: in the country. Then they talk about, you know, the 184 00:11:04,679 --> 00:11:09,000 Speaker 3: classic meme, how it started, how it's going. In the 185 00:11:09,120 --> 00:11:12,720 Speaker 3: first weeks, the only two shops then licensed in the county, 186 00:11:12,800 --> 00:11:15,960 Speaker 3: round rang Up combined one million dollars in sales the 187 00:11:16,000 --> 00:11:19,840 Speaker 3: first month, Wow, sending fifty six thousand dollars in taxes 188 00:11:19,840 --> 00:11:24,400 Speaker 3: to the county Colorado. Everybody was just thrilled and happy. 189 00:11:24,400 --> 00:11:29,080 Speaker 3: Decade and high. Decade later, Pueblo's dreams have gone up 190 00:11:29,120 --> 00:11:32,400 Speaker 3: in smoke. A once thriving industry of retailers, growers, and 191 00:11:32,480 --> 00:11:36,120 Speaker 3: cannabis oil extractors. There were more than two hundred of 192 00:11:36,120 --> 00:11:39,880 Speaker 3: these businesses in twenty seventeen in that county, more than 193 00:11:39,960 --> 00:11:44,280 Speaker 3: two hundred. It's collapsed only forty five remain. State records 194 00:11:44,320 --> 00:11:47,720 Speaker 3: indicate county tax revenue plunged from more than seven point 195 00:11:47,720 --> 00:11:50,320 Speaker 3: one million dollars to four point eight million twenty twenty three, 196 00:11:50,440 --> 00:11:52,640 Speaker 3: which is still a pretty significant amount of money. And 197 00:11:52,679 --> 00:11:54,560 Speaker 3: you could argue that they're just thinning the herd and 198 00:11:54,559 --> 00:11:57,800 Speaker 3: the stronger surviving the way it goes in capitalism. But 199 00:11:57,880 --> 00:12:00,440 Speaker 3: here's the problem. In California knows this too. It's been 200 00:12:00,440 --> 00:12:04,240 Speaker 3: a huge problem because the rosy rosy promise is made 201 00:12:04,520 --> 00:12:08,880 Speaker 3: to Californians in Colorado and is alike. Even after legalization, 202 00:12:08,960 --> 00:12:12,640 Speaker 3: illicit growers and sellers thrived, even right in Pueblo. Last year, 203 00:12:12,640 --> 00:12:16,920 Speaker 3: they accounted for seventy percent of the US market, according 204 00:12:16,960 --> 00:12:20,480 Speaker 3: to research companies. The black market dealers, unlike licensed ones, 205 00:12:20,520 --> 00:12:24,360 Speaker 3: face neither Texas nor red tape, so they're more efficient 206 00:12:24,559 --> 00:12:30,240 Speaker 3: and they're cheaper, and it's bad for your brain. That's interesting, man. 207 00:12:30,240 --> 00:12:35,000 Speaker 3: If you're counting on enough people smoking enough pot to 208 00:12:35,040 --> 00:12:37,200 Speaker 3: you know, make your schools great and everything like that, 209 00:12:37,200 --> 00:12:40,760 Speaker 3: that's just that's an interesting thing. It is, and it's 210 00:12:40,840 --> 00:12:45,960 Speaker 3: probably not a sustainable way to run a society. Nationwide, 211 00:12:45,960 --> 00:12:49,240 Speaker 3: only twenty seven percent of legal cannabis businesses are profitable, 212 00:12:49,600 --> 00:12:52,480 Speaker 3: which is down two percent just three years ago. Did 213 00:12:52,480 --> 00:12:56,400 Speaker 3: not know that. Yeah, investment is dried up, restructurings are rising, 214 00:12:56,480 --> 00:13:00,520 Speaker 3: and in Pueblo, sentiment about legal pot is swung the 215 00:13:00,559 --> 00:13:03,280 Speaker 3: other way, fueling a backlash against the county's embrace of 216 00:13:03,320 --> 00:13:09,400 Speaker 3: the industry. And again, it's kind of complicated and a 217 00:13:09,400 --> 00:13:11,800 Speaker 3: lot of nuance to it, but it's just it's not 218 00:13:11,880 --> 00:13:14,800 Speaker 3: nearly the dream it was sold to be. So ill 219 00:13:15,160 --> 00:13:17,120 Speaker 3: I'm sorry. And the one the one aspect you should 220 00:13:17,200 --> 00:13:20,480 Speaker 3: understand it's kind of intuitive is that if it's legal, 221 00:13:22,480 --> 00:13:27,760 Speaker 3: enforcing laws against the illegal stuff becomes so complicated because 222 00:13:27,880 --> 00:13:30,320 Speaker 3: you know, half of it sixty percent of it, depending 223 00:13:30,360 --> 00:13:32,680 Speaker 3: on where you are, is legal. And so what are 224 00:13:32,679 --> 00:13:34,280 Speaker 3: the coups supposed to do if they see a bunch 225 00:13:34,280 --> 00:13:35,280 Speaker 3: of guys smoking pot? 226 00:13:35,480 --> 00:13:35,560 Speaker 2: Right? 227 00:13:36,840 --> 00:13:37,319 Speaker 1: Arm Strong? 228 00:13:40,080 --> 00:13:43,000 Speaker 2: Why listen to arms Strong and Geddy on demand? 229 00:13:43,640 --> 00:13:45,640 Speaker 3: We're not boring. A lot of news is boring and 230 00:13:45,800 --> 00:13:48,880 Speaker 3: tedious and depressing. It makes you angry. You don't want 231 00:13:48,880 --> 00:13:51,640 Speaker 3: to live your life like that. Hey, I'm Jack Armstrong, 232 00:13:51,679 --> 00:13:53,840 Speaker 3: he's Joe Getty. We're Armstrong in Getty. We try to 233 00:13:53,840 --> 00:13:56,559 Speaker 3: bring you the truth and help you figure out this crazy. 234 00:13:56,200 --> 00:14:01,080 Speaker 6: Modern world about something about a comedic tone. 235 00:14:01,760 --> 00:14:04,920 Speaker 3: We have a one er. Yes, listen to Armstrong You 236 00:14:04,920 --> 00:14:08,160 Speaker 3: Getty on demand on the iHeartRadio app, Apple podcasts, or 237 00:14:08,200 --> 00:14:20,320 Speaker 3: wherever you get your podcasts. 238 00:14:20,360 --> 00:14:22,160 Speaker 2: The Armstrong and Getty Show. 239 00:14:23,880 --> 00:14:27,760 Speaker 3: We had a conversation last week that I was very 240 00:14:27,840 --> 00:14:31,880 Speaker 3: uncomfortable with, and I felt very guilty about it because 241 00:14:31,920 --> 00:14:36,480 Speaker 3: I concealed a truth during the conversation, confession being good 242 00:14:36,520 --> 00:14:39,280 Speaker 3: for the soul. I am here to confess it. But 243 00:14:39,440 --> 00:14:42,760 Speaker 3: like all good confessions, they work best in a multiple 244 00:14:42,880 --> 00:14:47,680 Speaker 3: choice format. And so I'm going to give you multiple choices, 245 00:14:47,720 --> 00:14:50,920 Speaker 3: but to up the ante, each of the choices will 246 00:14:50,920 --> 00:14:54,760 Speaker 3: get successively more evil. Oh boy, and you have to 247 00:14:54,840 --> 00:14:58,400 Speaker 3: choose which one I am actually guilty of. I'm so 248 00:14:58,560 --> 00:15:02,720 Speaker 3: uncomfortable right now. A I, Joe Getty have a second 249 00:15:02,760 --> 00:15:06,160 Speaker 3: wife across town, with whom I have two children. She 250 00:15:06,320 --> 00:15:08,200 Speaker 3: is in a legal alien and I keep her in 251 00:15:08,240 --> 00:15:11,920 Speaker 3: line by threatening her with deportation. Well, what's what's okay? 252 00:15:11,960 --> 00:15:14,480 Speaker 5: What's striking about this is you clearly didn't do that, 253 00:15:14,600 --> 00:15:16,920 Speaker 5: but you're going up the landing at worse. 254 00:15:17,040 --> 00:15:20,960 Speaker 3: They're going to get worse. Yes, yes, okay, anybody want 255 00:15:20,960 --> 00:15:22,280 Speaker 3: to go for a or you want to go on, 256 00:15:22,360 --> 00:15:24,600 Speaker 3: you want to roll the dice anybody, Michael, Clearly that's 257 00:15:24,640 --> 00:15:28,000 Speaker 3: not true. Okay, all right, b I am now and 258 00:15:28,120 --> 00:15:30,440 Speaker 3: have been for thirty years an active member of the 259 00:15:30,440 --> 00:15:33,160 Speaker 3: American Communist Party, and have been working to subvert the 260 00:15:33,200 --> 00:15:36,360 Speaker 3: Constitution with every ounce of my energy up to and 261 00:15:36,400 --> 00:15:38,800 Speaker 3: including acts of violence and sabotage. 262 00:15:39,440 --> 00:15:41,320 Speaker 5: So I think I think you've laid a really good 263 00:15:41,360 --> 00:15:45,360 Speaker 5: premise here because you've given two very bad choices obviously 264 00:15:45,480 --> 00:15:46,080 Speaker 5: not true. 265 00:15:46,240 --> 00:15:51,040 Speaker 3: Whatever something? What are hell did you do that? Right? 266 00:15:52,320 --> 00:15:54,400 Speaker 6: Am I going to want to associate with you after this? 267 00:15:55,240 --> 00:15:59,280 Speaker 3: I don't know, Comrade. Perhaps again from a conversation last 268 00:15:59,320 --> 00:16:03,400 Speaker 3: week in which I can seal the truth or possibility, say, 269 00:16:04,840 --> 00:16:11,120 Speaker 3: I had never seen Gladiator until this weekend. Oh wow, WHOA, 270 00:16:11,880 --> 00:16:15,920 Speaker 3: you saw the movie Gladiator? My secret shame? Gladiator one? 271 00:16:16,320 --> 00:16:20,360 Speaker 3: You were noted along with every conversation? Are you not entertained? 272 00:16:20,440 --> 00:16:24,680 Speaker 3: Ha ha ha? I assume grow. I assume you went 273 00:16:24,680 --> 00:16:26,480 Speaker 3: along with the factors because I watched it with my 274 00:16:26,640 --> 00:16:29,200 Speaker 3: son Henry a couple of weeks back before we went 275 00:16:29,240 --> 00:16:31,400 Speaker 3: to Gladiator two. He loved it and it reminded me 276 00:16:31,440 --> 00:16:33,200 Speaker 3: how much great it was. But I said it might 277 00:16:33,200 --> 00:16:35,800 Speaker 3: be in my top three movies of all time, and 278 00:16:35,880 --> 00:16:38,040 Speaker 3: I did not at that moment reveal you know, I've 279 00:16:38,040 --> 00:16:41,560 Speaker 3: never seen that Moe. Wow, that was good because I 280 00:16:41,640 --> 00:16:43,960 Speaker 3: knew the derision that would rain down upon Were you 281 00:16:44,400 --> 00:16:45,800 Speaker 3: probably okay twenty years ago? 282 00:16:46,040 --> 00:16:47,640 Speaker 5: Yeah, you were in the middle of raising kids. So no, 283 00:16:47,720 --> 00:16:49,160 Speaker 5: of course you didn't see that movie because I am 284 00:16:49,160 --> 00:16:51,440 Speaker 5: a house full of babies, including a one year old. Yeah, 285 00:16:51,440 --> 00:16:55,440 Speaker 5: I didn't see anything between I don't know whatever years 286 00:16:55,680 --> 00:16:57,840 Speaker 5: twenty ten and like a year ago. 287 00:16:58,680 --> 00:17:01,680 Speaker 6: I am impressed, Joe, because you carried on a full 288 00:17:01,680 --> 00:17:05,000 Speaker 6: blown conversation about that movie as if you it was 289 00:17:05,040 --> 00:17:05,760 Speaker 6: one of your favorites. 290 00:17:06,840 --> 00:17:08,760 Speaker 3: Well, you know, I read a lot, so I pick 291 00:17:08,840 --> 00:17:11,120 Speaker 3: up clues from the you know, contexts and stuff like that. 292 00:17:11,160 --> 00:17:13,399 Speaker 3: But you know, Jack, you make a good point. I 293 00:17:13,440 --> 00:17:16,600 Speaker 3: remember roughly when the movie came out. Hey, dude, you 294 00:17:16,600 --> 00:17:18,720 Speaker 3: got to see this is great. It's an unbelievable movie, 295 00:17:18,760 --> 00:17:20,600 Speaker 3: great guy and villain. It's like two and a half 296 00:17:20,680 --> 00:17:26,159 Speaker 3: hours long, and I'm my responss chance or if I'm 297 00:17:26,280 --> 00:17:28,720 Speaker 3: gonna have a couple two three hours, I'm gonna spend 298 00:17:28,720 --> 00:17:31,760 Speaker 3: it silently staring at a screen when you could hang 299 00:17:31,800 --> 00:17:33,800 Speaker 3: out with your wife or doing something. I mean, yeah, 300 00:17:34,000 --> 00:17:36,200 Speaker 3: not gonna happen. It was fun. Nobody could do what 301 00:17:36,280 --> 00:17:38,720 Speaker 3: Russell Crow did. I don't know what magic he had there, 302 00:17:38,720 --> 00:17:44,520 Speaker 3: but can you tell me you like Gladiator movies, Armstrong. 303 00:17:44,160 --> 00:18:02,119 Speaker 2: And the Armstrong and Getty Show. 304 00:18:14,160 --> 00:18:16,639 Speaker 7: Wall Street suffering it's worst day of the year, the 305 00:18:16,720 --> 00:18:20,479 Speaker 7: Dow closing nearly nine hundred points down after the President 306 00:18:20,600 --> 00:18:23,159 Speaker 7: refused to rule out that the US could be heading 307 00:18:23,240 --> 00:18:24,200 Speaker 7: into a recession. 308 00:18:24,640 --> 00:18:29,040 Speaker 5: Uh yeah, a lot of negative headlines about Wall Street yesterday. 309 00:18:29,080 --> 00:18:34,680 Speaker 5: I'm always interested in that. In that a lot, a lot, 310 00:18:34,840 --> 00:18:38,000 Speaker 5: a lot of Americans aren't in the stock market, and 311 00:18:38,440 --> 00:18:41,880 Speaker 5: it's I'd like to know what percentage of the audience 312 00:18:41,920 --> 00:18:44,960 Speaker 5: that watches mainstream evening news is in the stock market, 313 00:18:45,320 --> 00:18:45,880 Speaker 5: other than. 314 00:18:45,840 --> 00:18:49,200 Speaker 3: Are you including four one ks in that m Maybe 315 00:18:49,240 --> 00:18:49,600 Speaker 3: maybe not. 316 00:18:49,720 --> 00:18:53,399 Speaker 5: I don't know investments, but certainly the average person watching 317 00:18:53,400 --> 00:18:55,560 Speaker 5: the evening news is not into the daily ups and 318 00:18:55,600 --> 00:18:56,040 Speaker 5: downs of. 319 00:18:56,040 --> 00:18:59,480 Speaker 3: The stock market. True, they're in the long you know, 320 00:18:59,680 --> 00:19:00,840 Speaker 3: the law game. 321 00:19:01,119 --> 00:19:09,520 Speaker 5: And and very little context ever around any of this 322 00:19:09,560 --> 00:19:12,680 Speaker 5: stuff anytime. And I'm not just like now just always 323 00:19:12,680 --> 00:19:18,720 Speaker 5: there's almost no context. Biggest point drop whatever. Sometimes they 324 00:19:18,840 --> 00:19:22,680 Speaker 5: use points because it's more dramatic. Sometimes the percentage whatever, 325 00:19:22,680 --> 00:19:24,360 Speaker 5: and they go back and forth, and it's all very 326 00:19:25,760 --> 00:19:28,639 Speaker 5: it's it's designed to make it sound as great or 327 00:19:28,640 --> 00:19:31,080 Speaker 5: as awful as possible, to make it more exciting. But anyway, 328 00:19:31,280 --> 00:19:34,000 Speaker 5: New York christ and known this has been a big 329 00:19:34,119 --> 00:19:36,600 Speaker 5: down for the last week and a half or whatever 330 00:19:36,800 --> 00:19:38,880 Speaker 5: since the Tarif announcement. No doubt about that. New York 331 00:19:38,920 --> 00:19:43,080 Speaker 5: Post headline today, Buckle up NASGA. Dax suffers biggest loss 332 00:19:43,119 --> 00:19:46,240 Speaker 5: in three years. Dow falls eight ninety after Trump recession 333 00:19:46,320 --> 00:19:50,160 Speaker 5: dodge after Trump didn't absolutely just flat out say. 334 00:19:50,000 --> 00:19:51,200 Speaker 3: No to the recession question. 335 00:19:51,320 --> 00:19:55,399 Speaker 5: It's amazing how much news that made that one answer. 336 00:19:55,440 --> 00:19:57,919 Speaker 5: And he knew that, Like I said yesterday, he's aware 337 00:19:57,960 --> 00:20:01,440 Speaker 5: of that. He he double down on air Force one. 338 00:20:01,520 --> 00:20:05,719 Speaker 3: Essentially, the significance of it is he didn't say we 339 00:20:05,760 --> 00:20:08,720 Speaker 3: will do everything we need to to avoid a recession. 340 00:20:08,760 --> 00:20:11,560 Speaker 5: That's why that's significant, right, which gets to what we 341 00:20:11,560 --> 00:20:13,479 Speaker 5: were saying last hour. I wish he would give some 342 00:20:13,520 --> 00:20:16,080 Speaker 5: sort of speech where he explains what his long game 343 00:20:16,160 --> 00:20:18,439 Speaker 5: in is and why I think he can get more 344 00:20:18,480 --> 00:20:20,080 Speaker 5: people on board or calmed down. 345 00:20:20,840 --> 00:20:24,239 Speaker 3: I think that is so obviously a great idea. It 346 00:20:24,320 --> 00:20:28,560 Speaker 3: is shocking to me. It hasn't happened yet. Drudge hates Trump, 347 00:20:28,680 --> 00:20:33,400 Speaker 3: but his headlines economy cracks, stocks lose four trillion dollars. Oh, 348 00:20:33,440 --> 00:20:35,320 Speaker 3: that's one of the things about the news reporting. 349 00:20:35,359 --> 00:20:38,520 Speaker 5: I feel like it's for people who don't understand that 350 00:20:38,520 --> 00:20:41,880 Speaker 5: that money didn't actually disappear never to come back. It's 351 00:20:42,200 --> 00:20:44,840 Speaker 5: the stock is down and yet adds up to four trillion. 352 00:20:44,880 --> 00:20:48,119 Speaker 5: But unless you sold yesterday, you didn't actually lose the money, 353 00:20:48,160 --> 00:20:49,879 Speaker 5: and it could be back up in two weeks and 354 00:20:50,000 --> 00:20:50,719 Speaker 5: nothing happened. 355 00:20:50,760 --> 00:20:53,399 Speaker 3: I mean, well, and you quote unquote lost the money 356 00:20:53,400 --> 00:20:55,720 Speaker 3: from if you would have sold it three weeks ago. 357 00:20:55,840 --> 00:20:58,680 Speaker 3: So it's all imaginary. It's not even on paper, it's 358 00:20:58,800 --> 00:20:59,320 Speaker 3: in the ether. 359 00:21:00,240 --> 00:21:02,800 Speaker 5: So getting to Mark Alprin's newsletter today, who I think 360 00:21:02,840 --> 00:21:04,520 Speaker 5: he is a fair arbiter of these sorts of things, 361 00:21:04,520 --> 00:21:08,239 Speaker 5: and he gets a lot of He has a lot 362 00:21:08,280 --> 00:21:12,879 Speaker 5: of connections in left and right, Republican and Democrat. He 363 00:21:12,920 --> 00:21:17,000 Speaker 5: wrote this Monday, when job boning by all Trump economic 364 00:21:17,080 --> 00:21:20,520 Speaker 5: advisors could not stop a market selloff or deter business leaders, 365 00:21:20,560 --> 00:21:25,320 Speaker 5: economic analysts, analysts, Paul's and Trump supporters from calling, texting, 366 00:21:25,359 --> 00:21:28,280 Speaker 5: and emailing me to say the sky is falling, and 367 00:21:28,320 --> 00:21:32,080 Speaker 5: it is in their collective view explicitly and unambiguously Trump's fault. 368 00:21:32,720 --> 00:21:35,919 Speaker 5: In my career, I don't recall anything quite like Munday 369 00:21:36,040 --> 00:21:39,280 Speaker 5: as Whoosh, Team Trump lost the confidence of a bunch 370 00:21:39,320 --> 00:21:42,480 Speaker 5: of key actors in one fell swoop. I thought that 371 00:21:42,560 --> 00:21:44,840 Speaker 5: was interesting that behind the scenes a lot of people 372 00:21:44,840 --> 00:21:48,399 Speaker 5: that normally really really big on Trump recalling Mark Auperton 373 00:21:48,400 --> 00:21:49,800 Speaker 5: and saying, what the hell is he doing? 374 00:21:50,680 --> 00:21:56,120 Speaker 3: The business world, the American business world, was absolutely confident 375 00:21:56,200 --> 00:21:59,960 Speaker 3: that Trump would slash regulations and make permanent tax cuts 376 00:22:00,320 --> 00:22:03,800 Speaker 3: and that would be his main thrust. This whole call 377 00:22:03,840 --> 00:22:08,560 Speaker 3: it protectionism, you know, seeking a new global norm for trade, 378 00:22:08,560 --> 00:22:11,200 Speaker 3: whatever you want to call it, is surprising to them 379 00:22:11,240 --> 00:22:13,320 Speaker 3: and it's led to a great deal of uncertainty. Business 380 00:22:13,359 --> 00:22:17,439 Speaker 3: hates uncertainty, right. And then got to get to what 381 00:22:17,480 --> 00:22:19,800 Speaker 3: I was talking about yesterday, which I fully fully believe. 382 00:22:20,280 --> 00:22:23,879 Speaker 3: I mean, don't feel like the Wall Street journal crowd 383 00:22:23,920 --> 00:22:26,520 Speaker 3: has your best interest in mind. They have the best 384 00:22:26,520 --> 00:22:29,440 Speaker 3: interest of like what's gonna make the Dow close higher 385 00:22:29,480 --> 00:22:31,960 Speaker 3: today for a lot of the crowd who actually does 386 00:22:32,040 --> 00:22:35,199 Speaker 3: day trade or certainly this quarter, not what's best for 387 00:22:35,280 --> 00:22:38,720 Speaker 3: America long term, and you know, fortunately or unfortunately, I guess, 388 00:22:39,040 --> 00:22:41,560 Speaker 3: and Ryan would say, that's the way it's supposed to work. 389 00:22:41,600 --> 00:22:43,520 Speaker 5: You know, they're looking out for themselves. That's what drives 390 00:22:43,560 --> 00:22:46,560 Speaker 5: the whole thing. But yeah, I would. 391 00:22:46,400 --> 00:22:49,240 Speaker 3: Say, as a guy who reads practically cover to cover 392 00:22:49,320 --> 00:22:52,800 Speaker 3: the journal every single day, they have a wide range 393 00:22:53,080 --> 00:22:57,960 Speaker 3: of opinions and writers there. Not all of them are 394 00:22:58,119 --> 00:22:59,639 Speaker 3: merely chasing quarterly profits. 395 00:22:59,680 --> 00:23:04,960 Speaker 5: But I wanted to get to this and I didn't 396 00:23:04,960 --> 00:23:07,120 Speaker 5: know this. So Mark Alpernan has a bunch of links 397 00:23:07,160 --> 00:23:10,000 Speaker 5: to a whole bunch of different newspaper articles talking about 398 00:23:10,040 --> 00:23:13,800 Speaker 5: the how much damage has been done, whether it's temporary, 399 00:23:13,800 --> 00:23:15,240 Speaker 5: long term, blah blah blah. 400 00:23:15,280 --> 00:23:16,160 Speaker 3: Than this team. 401 00:23:16,200 --> 00:23:17,919 Speaker 5: Trump came in with the theory of the case that 402 00:23:17,960 --> 00:23:21,920 Speaker 5: they could rebalance the economy by shifting economic activity back 403 00:23:21,960 --> 00:23:25,160 Speaker 5: to the private sector from the public sector. It's part 404 00:23:25,160 --> 00:23:28,959 Speaker 5: of the whole doge thing and tariffs together. Trump advisors 405 00:23:28,960 --> 00:23:31,480 Speaker 5: have said they think the government is now twenty five 406 00:23:31,560 --> 00:23:36,680 Speaker 5: percent of the economy. Mark Alprin said, in reality, it's 407 00:23:36,760 --> 00:23:41,960 Speaker 5: way higher, maybe closer to fifty percent. Wow, what fifty 408 00:23:42,040 --> 00:23:46,680 Speaker 5: percent of the economy is the government? With Medicare and medicaid. 409 00:23:46,880 --> 00:23:48,959 Speaker 5: No one wants to admit it, but to a large extent, 410 00:23:49,160 --> 00:23:52,280 Speaker 5: the US economy has really just become the US government 411 00:23:52,320 --> 00:23:55,520 Speaker 5: spending in transfers. This is evidenced by the fact that 412 00:23:55,560 --> 00:23:58,520 Speaker 5: we've been running huge fiscal deficits during strong economic times. 413 00:23:59,080 --> 00:24:01,879 Speaker 5: And the new Terresury Secretary is proposed fixing this by 414 00:24:01,920 --> 00:24:05,399 Speaker 5: cutting government spending with musk combined with tariffs to rebounce trade, 415 00:24:05,480 --> 00:24:07,280 Speaker 5: to rebuild American manufacturing. 416 00:24:07,440 --> 00:24:10,439 Speaker 3: But to bring it home, he gets into, we live 417 00:24:10,480 --> 00:24:13,879 Speaker 3: in a wah blah blah blah blah blah. The top 418 00:24:14,000 --> 00:24:18,080 Speaker 3: ten percent. Studies have shown there's a very high correlation 419 00:24:18,240 --> 00:24:23,040 Speaker 3: between their propensity to spend with spending being you know, 420 00:24:23,080 --> 00:24:27,680 Speaker 3: two thirds of our economies people going out and spending money, 421 00:24:28,440 --> 00:24:32,480 Speaker 3: and where the stock prices are. For whatever reason, when 422 00:24:32,560 --> 00:24:35,880 Speaker 3: the top ten percent are feeling wealthy, they buy stuff. 423 00:24:36,160 --> 00:24:40,000 Speaker 3: But if they're not feeling wealthy, they don't. And this 424 00:24:40,280 --> 00:24:42,800 Speaker 3: especially is true now, and this could get us into 425 00:24:42,840 --> 00:24:50,080 Speaker 3: a real doom loop of tariffs, negative feelings, stock market 426 00:24:50,119 --> 00:24:53,000 Speaker 3: going down, people pulling back, et cetera, et cetera, cutting 427 00:24:53,080 --> 00:24:55,680 Speaker 3: the government, which is half the economy. You see, there's 428 00:24:55,720 --> 00:24:56,280 Speaker 3: the spiral. 429 00:24:56,520 --> 00:24:59,080 Speaker 5: If doge is laying off people and cutting the government, 430 00:24:59,080 --> 00:25:01,720 Speaker 5: and it's fifty percent of the economy that automatically is 431 00:25:01,760 --> 00:25:03,920 Speaker 5: going to drop the economy, which makes the rich ten 432 00:25:03,960 --> 00:25:06,480 Speaker 5: percent spend less, which drops the economy. 433 00:25:06,520 --> 00:25:07,879 Speaker 3: And it's just that, you see, it's a cycle that 434 00:25:07,920 --> 00:25:11,320 Speaker 3: could catch on. Yeah. My My only objection to that 435 00:25:11,440 --> 00:25:14,080 Speaker 3: theory or a question I have about it, is that 436 00:25:14,720 --> 00:25:20,160 Speaker 3: what doge is doing is nibbling around the edges of 437 00:25:20,200 --> 00:25:25,200 Speaker 3: the actual fiscal pie. True. I don't appreciate it because 438 00:25:25,240 --> 00:25:29,959 Speaker 3: I like the edges of the pie. Oh fiscal piebius uh. 439 00:25:30,000 --> 00:25:32,960 Speaker 3: And it's funny because you have conservatives saying they're they're 440 00:25:33,000 --> 00:25:35,840 Speaker 3: they're not attacking entitlements and that's most of the budget 441 00:25:35,880 --> 00:25:38,880 Speaker 3: blah blah blah blah blah. But at the same time 442 00:25:38,920 --> 00:25:41,240 Speaker 3: it might cause a doom loop. I just I don't 443 00:25:41,320 --> 00:25:41,920 Speaker 3: I don't know. 444 00:25:44,320 --> 00:25:46,800 Speaker 5: Well, nobody ever knows on any of this stuff, as 445 00:25:46,800 --> 00:25:51,480 Speaker 5: we've said for years, because if you were the old thing, 446 00:25:51,520 --> 00:25:54,120 Speaker 5: if you ask you know, ten economists, you'll get eleven opinions. 447 00:25:55,840 --> 00:25:59,800 Speaker 5: Or there's only two people that understand, uh, the global 448 00:26:00,359 --> 00:26:03,879 Speaker 5: and they don't agree you know, any of those sayings. 449 00:26:03,920 --> 00:26:06,359 Speaker 5: And but you know, if you could predict this stuff, well, 450 00:26:06,440 --> 00:26:09,480 Speaker 5: you'd be the richest person on planet Earth, you know, immediately. 451 00:26:10,680 --> 00:26:12,679 Speaker 5: So you know, there's a lot of moving pieces and 452 00:26:12,720 --> 00:26:14,960 Speaker 5: theory and everything like that. But I do find that 453 00:26:15,200 --> 00:26:18,560 Speaker 5: very troubling. Yeah, all of it's troubling. 454 00:26:19,160 --> 00:26:21,600 Speaker 3: I find myself imagining if Trump were to craft the 455 00:26:21,640 --> 00:26:26,040 Speaker 3: sort of message you've suggested, explaining exactly what his goals are, 456 00:26:26,680 --> 00:26:29,000 Speaker 3: why it's going to be worth enduring a bit of 457 00:26:29,040 --> 00:26:32,440 Speaker 3: pain or upheaval for a while, be it two years 458 00:26:32,520 --> 00:26:34,840 Speaker 3: or more likely five or ten or fifteen or twenty years, 459 00:26:36,200 --> 00:26:40,960 Speaker 3: because that would get the popular support. Doing something difficult 460 00:26:41,200 --> 00:26:44,720 Speaker 3: would require, because there's one thing democracies are terrible at. 461 00:26:45,000 --> 00:26:48,879 Speaker 3: That's doing what is difficult. Like in your family, you 462 00:26:48,880 --> 00:26:52,840 Speaker 3: could say, hey, we are going to severely restrict spending 463 00:26:52,880 --> 00:26:55,639 Speaker 3: for this year to get a down payment together to 464 00:26:55,720 --> 00:26:58,480 Speaker 3: buy the house, or make the investment or open the 465 00:26:58,520 --> 00:26:59,639 Speaker 3: business we've long dreamed of. 466 00:27:00,119 --> 00:27:01,640 Speaker 5: You can do here on the wall of a house 467 00:27:01,680 --> 00:27:03,520 Speaker 5: with a pool and say this is why we're doing it. 468 00:27:04,080 --> 00:27:05,879 Speaker 3: Yeah. You know, I've always been a fan of the 469 00:27:06,080 --> 00:27:09,960 Speaker 3: like the thermometer thing where you actually track your savings, 470 00:27:10,000 --> 00:27:12,159 Speaker 3: because it gives you enthusiasm for it. Judy and I 471 00:27:12,280 --> 00:27:15,480 Speaker 3: used to do that when we were young. Anyway, as 472 00:27:15,520 --> 00:27:18,120 Speaker 3: a family, you can do that. But democracies are famously 473 00:27:18,280 --> 00:27:21,280 Speaker 3: horrible at saying all right, we're all going to endure 474 00:27:21,320 --> 00:27:24,480 Speaker 3: some pain for a while, an austerity plan. It happens. 475 00:27:24,520 --> 00:27:26,360 Speaker 3: I don't think it's hard to get going. I don't 476 00:27:26,400 --> 00:27:29,400 Speaker 3: think we're grown up enough for this. I think we're 477 00:27:29,400 --> 00:27:33,880 Speaker 3: too used to easy sailing, smooth saling. But even if 478 00:27:33,880 --> 00:27:37,080 Speaker 3: Trump were to do that, though, Wall Street would probably 479 00:27:37,119 --> 00:27:40,560 Speaker 3: freak out for a while, and then people would see it, 480 00:27:40,960 --> 00:27:44,400 Speaker 3: would check their four one ks and freak out. And 481 00:27:45,640 --> 00:27:48,680 Speaker 3: I just I don't know if we have the right 482 00:27:48,760 --> 00:27:55,600 Speaker 3: stuff to institute what Trump's talking about before it's a 483 00:27:55,600 --> 00:27:56,840 Speaker 3: horrible emergency. 484 00:27:56,840 --> 00:27:59,879 Speaker 5: Well, imagine if Trump or somebody representing Trump came out 485 00:27:59,920 --> 00:28:02,760 Speaker 5: and gave a speech says, look, half the economy is 486 00:28:02,760 --> 00:28:04,960 Speaker 5: the government. Do you know that half the economy is 487 00:28:05,000 --> 00:28:07,919 Speaker 5: the government? And that can't be that's not sustainable. And 488 00:28:07,920 --> 00:28:10,640 Speaker 5: our debt is this, and our deficit is this, and 489 00:28:10,680 --> 00:28:13,439 Speaker 5: you know our payments are this, and blah blah blah. 490 00:28:13,520 --> 00:28:16,120 Speaker 5: And if that wasn't go ahead, sorry there's more. 491 00:28:16,359 --> 00:28:18,720 Speaker 3: No, that's fine, I was gonna say. And if if 492 00:28:18,720 --> 00:28:21,280 Speaker 3: that wasn't bad enough. Folks, here's the chunk of the 493 00:28:21,320 --> 00:28:25,399 Speaker 3: economy that would collapse and you would starve if China 494 00:28:25,520 --> 00:28:28,920 Speaker 3: decides to jump ugly. So A, we got to reign 495 00:28:29,000 --> 00:28:31,720 Speaker 3: in the government. B. We've got to wean ourselves from 496 00:28:31,760 --> 00:28:36,600 Speaker 3: being China junkies. Their economic heroin is is they're gonna 497 00:28:36,680 --> 00:28:38,480 Speaker 3: pull it back on us, and we're gonna be on 498 00:28:38,560 --> 00:28:41,240 Speaker 3: our hands and knees, and our economy is gonna be 499 00:28:41,280 --> 00:28:44,640 Speaker 3: puking and turning green and pooping on itself. Wow, because 500 00:28:44,640 --> 00:28:47,440 Speaker 3: they're gonna pull it out cold turkey. Do you want that? 501 00:28:47,600 --> 00:28:50,880 Speaker 3: Do you want that? Huh? Okay, We're gonna restructure the economy. 502 00:28:51,000 --> 00:28:54,640 Speaker 3: You would be a disgusting economics teacher. Yeah, but compelling. 503 00:28:55,160 --> 00:28:59,040 Speaker 3: M Uh. There's no way this works because we have 504 00:28:59,080 --> 00:29:00,280 Speaker 3: an election every two year. Years. 505 00:29:00,280 --> 00:29:04,920 Speaker 5: Were already like a year away from constantly talking about 506 00:29:05,640 --> 00:29:09,959 Speaker 5: the mid terms and uh, and and the Democrats are 507 00:29:09,960 --> 00:29:12,840 Speaker 5: gonna run on He says, we can't blah blah blah. 508 00:29:12,880 --> 00:29:17,480 Speaker 3: We say you you we can lose with me. Everybody says, yeah, 509 00:29:17,600 --> 00:29:20,880 Speaker 3: I want everything for nothing, and and there you go. 510 00:29:21,400 --> 00:29:22,760 Speaker 3: So to summarize, we're toomed. 511 00:29:23,760 --> 00:29:28,239 Speaker 5: I'm moving along, aren't you glad you tuned in. Oh boy, Well, 512 00:29:28,520 --> 00:29:31,520 Speaker 5: but everybody should me and everyone we should realize that 513 00:29:31,520 --> 00:29:34,520 Speaker 5: we're not retiring today. What the stock market does today, 514 00:29:34,600 --> 00:29:38,560 Speaker 5: unless you are retiring today. Somebody listening somewhere, if you. 515 00:29:38,520 --> 00:29:41,680 Speaker 3: Would have restructured your your investments. 516 00:29:41,240 --> 00:29:43,760 Speaker 5: If somebody somewhere on our seventy stations is listening, is 517 00:29:43,800 --> 00:29:45,680 Speaker 5: retiring today or yesterday? 518 00:29:45,680 --> 00:29:48,800 Speaker 3: He retired yesterday. I understand while you're upset. 519 00:29:50,040 --> 00:29:57,960 Speaker 1: Sorry, sorry, Jack Armstrong and Joe Armstrong and Getty Show, 520 00:30:10,640 --> 00:30:12,440 Speaker 1: The Armstrong and Getty Show. 521 00:30:15,720 --> 00:30:19,040 Speaker 3: So, speaking of generations, I thought this was both amusing 522 00:30:19,320 --> 00:30:24,720 Speaker 3: and slightly annoying. But it's an article about how evidently 523 00:30:25,280 --> 00:30:31,120 Speaker 3: some demographer social researcher by the name of Mark McCrindle 524 00:30:31,280 --> 00:30:34,880 Speaker 3: has become the go to guy for naming generations. Never 525 00:30:34,920 --> 00:30:38,280 Speaker 3: heard of this guy, and the just of the article 526 00:30:38,680 --> 00:30:43,080 Speaker 3: is that he believes the whole like coming up with 527 00:30:43,160 --> 00:30:46,360 Speaker 3: a groovy name for the generation and seeing if it 528 00:30:46,440 --> 00:30:48,480 Speaker 3: catches on is kind of dumb. 529 00:30:49,320 --> 00:30:52,800 Speaker 5: Well, I gotta believe that he or whoever was in charge, 530 00:30:53,240 --> 00:30:55,880 Speaker 5: they came up with gen X way back in the day. 531 00:30:55,920 --> 00:30:58,080 Speaker 3: I mean, this was the eighties when they started talking 532 00:30:58,120 --> 00:31:01,800 Speaker 3: gen X and far cool list generation name by the way, 533 00:31:02,000 --> 00:31:03,840 Speaker 3: not just because of my year of birth. 534 00:31:04,040 --> 00:31:05,920 Speaker 5: And then at the meeting where they came up with 535 00:31:06,000 --> 00:31:08,680 Speaker 5: jen Y, somebody should have raised their hand and say, hey, 536 00:31:08,720 --> 00:31:11,520 Speaker 5: I see like a problem coming down the road we 537 00:31:11,600 --> 00:31:14,360 Speaker 5: might want to get ahead of with this whole lettering fing. 538 00:31:14,880 --> 00:31:16,640 Speaker 3: We're running out of letters in the ouphant, what are 539 00:31:16,640 --> 00:31:20,760 Speaker 3: we gonna do? Well, you got this silent generation, who 540 00:31:20,760 --> 00:31:24,479 Speaker 3: weren't silent at all at the old hodown. And then 541 00:31:24,520 --> 00:31:27,480 Speaker 3: you got the Greatest generation, a fine generation, thanks for 542 00:31:27,520 --> 00:31:28,680 Speaker 3: winning World War Two. 543 00:31:28,480 --> 00:31:30,920 Speaker 2: But you know, some good somepod. 544 00:31:31,280 --> 00:31:33,520 Speaker 3: Then you got the baby Boomers. There are a bunch 545 00:31:33,560 --> 00:31:35,440 Speaker 3: of babies that once and now I'm a boomer, the 546 00:31:35,480 --> 00:31:39,440 Speaker 3: most selfish generation that had ruined everything. Oh there's that 547 00:31:39,760 --> 00:31:44,120 Speaker 3: is fair criticism. Hippies and yeah, damn hippies. And then 548 00:31:44,680 --> 00:31:47,240 Speaker 3: then you got Generation X, again by far the coolest name. 549 00:31:47,600 --> 00:31:49,600 Speaker 3: They go through a couple more letters, and then they 550 00:31:49,720 --> 00:31:51,840 Speaker 3: having a run out of letters, they go with Millennials, 551 00:31:51,880 --> 00:31:56,840 Speaker 3: and then then what's the next one? It doesn't matter anyway, 552 00:31:58,320 --> 00:32:01,240 Speaker 3: So this guy says, oh, we got to quit screwing around. 553 00:32:01,280 --> 00:32:04,920 Speaker 3: We'll just use Greek letters. Okay. So Generation Alpha just 554 00:32:04,960 --> 00:32:08,320 Speaker 3: happened a while back, But now it's generation beta. When 555 00:32:08,360 --> 00:32:10,920 Speaker 3: did alpha thing? Because I never even heard generation alpha? 556 00:32:11,320 --> 00:32:15,280 Speaker 3: I know, I know, but apparently those who talk about 557 00:32:15,280 --> 00:32:18,600 Speaker 3: this crap have. But anyway, the point is now it's 558 00:32:18,720 --> 00:32:22,240 Speaker 3: generation beta, and of course beta is an insult in 559 00:32:22,280 --> 00:32:25,240 Speaker 3: the modern world, right, it means, for instance, a weak 560 00:32:25,360 --> 00:32:30,200 Speaker 3: and passive man or something. And so there are parents 561 00:32:30,280 --> 00:32:33,920 Speaker 3: evidently who are offended now that their children are being 562 00:32:34,600 --> 00:32:41,160 Speaker 3: What can we stop naming generations completely? What is a generation? Even? 563 00:32:41,640 --> 00:32:44,720 Speaker 3: I mean Generation X fans for like twenty three years 564 00:32:44,800 --> 00:32:47,560 Speaker 3: or something. This is crazy. Well, there's a number of 565 00:32:47,600 --> 00:32:50,640 Speaker 3: problems with it that are fairly obvious. But at least 566 00:32:50,800 --> 00:32:55,480 Speaker 3: back in the day, you know how much changed between 567 00:32:55,640 --> 00:32:58,240 Speaker 3: you know, this decade and that decade, not a ton, 568 00:32:58,760 --> 00:33:03,560 Speaker 3: Whereas now, holy crap, if you're growing up in the 569 00:33:03,560 --> 00:33:07,720 Speaker 3: smartphone world, it's completely different than the pre smartphone world. 570 00:33:08,080 --> 00:33:11,600 Speaker 3: It just is, right, So let's go with more descriptive 571 00:33:11,640 --> 00:33:16,480 Speaker 3: names like the smartphonies or or all digital weirdos or 572 00:33:16,600 --> 00:33:22,400 Speaker 3: I don't yeah, I'm just spitballing here, yeah, yeah, yeah. 573 00:33:22,440 --> 00:33:25,720 Speaker 3: The change has been so massive so quickly you might 574 00:33:25,800 --> 00:33:28,920 Speaker 3: have to go like every five and a half years, right, 575 00:33:29,360 --> 00:33:32,719 Speaker 3: have a new quote unquote generation if you're cause you know, 576 00:33:32,880 --> 00:33:35,400 Speaker 3: mostly I think it's useless. But if I'm a boss, 577 00:33:36,400 --> 00:33:39,200 Speaker 3: and you can say, all right, this next person we've 578 00:33:39,280 --> 00:33:42,880 Speaker 3: known or we've hired is a beta zoomer, and you 579 00:33:42,960 --> 00:33:45,239 Speaker 3: look it up and you see, oh, beta zoomers are 580 00:33:45,280 --> 00:33:48,840 Speaker 3: extremely insecure and need to be coddled like little kittens. 581 00:33:49,400 --> 00:33:51,640 Speaker 3: On the other hand, they're rebellious and blah blah. It 582 00:33:51,720 --> 00:33:53,360 Speaker 3: might be a tool to help you deal with them. 583 00:33:54,000 --> 00:33:56,760 Speaker 5: Right, It seems like giant world changing events would be 584 00:33:56,760 --> 00:34:00,479 Speaker 5: better than just picking years like every so many years, 585 00:34:00,840 --> 00:34:03,760 Speaker 5: Like I mentioned, smartphones. COVID would be a good marker 586 00:34:03,800 --> 00:34:06,480 Speaker 5: if you were, you know, in if you're in grade 587 00:34:06,520 --> 00:34:09,919 Speaker 5: school during COVID, you, I know, teachers say those are 588 00:34:10,080 --> 00:34:11,200 Speaker 5: different kinds of kids. 589 00:34:12,320 --> 00:34:15,120 Speaker 3: How did jen X get its name? I mean, what 590 00:34:15,200 --> 00:34:17,720 Speaker 3: a what a what does that even mean? How about 591 00:34:18,560 --> 00:34:21,759 Speaker 3: Watergate and Vietnam made us very cynical? Plus half of 592 00:34:21,760 --> 00:34:25,200 Speaker 3: our parents got divorced. I mean it's kind of long, 593 00:34:25,480 --> 00:34:31,279 Speaker 3: but yeah, the latch Key generation anyway, Yeah, don't call 594 00:34:31,360 --> 00:34:37,279 Speaker 3: them generation Beta. It's hurtful, so so dumb. Did you 595 00:34:37,400 --> 00:34:44,400 Speaker 3: know that seventy percent of TikTok's revenue comes from live 596 00:34:44,600 --> 00:34:49,759 Speaker 3: streaming gifts. When people are doing live streamy stuff, do 597 00:34:49,800 --> 00:34:55,120 Speaker 3: you gifts or gifts gifts like presents. Yes, you can 598 00:34:55,160 --> 00:34:57,799 Speaker 3: give people these little things that are called what are 599 00:34:57,800 --> 00:35:02,720 Speaker 3: they called their like little tokens that they can redeem 600 00:35:02,880 --> 00:35:08,799 Speaker 3: into real money. It's huge into sex live streaming. We 601 00:35:08,840 --> 00:35:12,799 Speaker 3: need someone younger than us, Katie. Well, I'm trying to 602 00:35:12,840 --> 00:35:15,279 Speaker 3: explain it to you, you old man. I need somebody 603 00:35:15,280 --> 00:35:15,960 Speaker 3: who's done it. 604 00:35:16,400 --> 00:35:17,719 Speaker 2: Well, yeah, it's you. 605 00:35:17,880 --> 00:35:20,480 Speaker 6: Just go on and they have different dollar amounts, so 606 00:35:20,520 --> 00:35:24,160 Speaker 6: you can send from fifty cents up to one thousand dollars. 607 00:35:24,200 --> 00:35:28,279 Speaker 3: I think to tip them digitally exactly. That was at 608 00:35:28,320 --> 00:35:28,960 Speaker 3: digital tips. 609 00:35:29,040 --> 00:35:31,319 Speaker 5: Why did this catch on? Is it just easier or 610 00:35:31,360 --> 00:35:35,359 Speaker 5: more fun or well as opposed to and mowing them 611 00:35:35,440 --> 00:35:36,319 Speaker 5: or sending them a car. 612 00:35:36,520 --> 00:35:40,680 Speaker 3: Oh, it's immeasurably easier. You have an account, you click click, 613 00:35:40,760 --> 00:35:43,439 Speaker 3: they get a dollar your money, and then they can 614 00:35:43,560 --> 00:35:47,520 Speaker 3: show you their blankety blank or whatever. And TikTok allegedly 615 00:35:47,560 --> 00:35:51,000 Speaker 3: has filters for this, but they're super easy to get around. 616 00:35:51,320 --> 00:35:54,640 Speaker 3: You just use slang terms, including local slang terms. Because 617 00:35:54,640 --> 00:35:58,520 Speaker 3: it's global app and so there's an enormous child porn 618 00:35:58,760 --> 00:36:03,520 Speaker 3: market on Hiktok, These underage girls from all over the world, 619 00:36:03,880 --> 00:36:07,120 Speaker 3: who will you know, perform various acts or show off 620 00:36:07,200 --> 00:36:11,520 Speaker 3: or whatever and uh and and TikTok gets a cut 621 00:36:11,520 --> 00:36:11,719 Speaker 3: of that. 622 00:36:12,120 --> 00:36:14,160 Speaker 5: Well, first of all, I'll show you whatever part you 623 00:36:14,200 --> 00:36:15,560 Speaker 5: want to see for a five spot. 624 00:36:15,640 --> 00:36:18,480 Speaker 3: If there's any demand, give you a ten not to 625 00:36:19,920 --> 00:36:21,799 Speaker 3: that's what I'll do. I'll start a bigging war and 626 00:36:21,800 --> 00:36:24,480 Speaker 3: that's what I'll make my money. And they please don't. 627 00:36:24,520 --> 00:36:27,360 Speaker 3: We'll win out, but I'll be the benefit. It's not temptation, 628 00:36:27,480 --> 00:36:33,800 Speaker 3: it's extortion. I'll give you unny. It's a thread the Armstrong. 629 00:36:33,360 --> 00:36:36,680 Speaker 2: And Getty Show. Yeah, more Jack, more shoe podcasts, and 630 00:36:36,800 --> 00:36:37,600 Speaker 2: our hot links.