1 00:00:00,680 --> 00:00:04,200 Speaker 1: Hi, I'm Mollie John Fast and this is Fast Politics, 2 00:00:04,400 --> 00:00:07,160 Speaker 1: where we discuss the top political headlines with some of 3 00:00:07,200 --> 00:00:11,240 Speaker 1: today's best minds and Rupert Murdoch is stepping down as 4 00:00:11,320 --> 00:00:14,480 Speaker 1: chairman of Fox and News Corp. We'll see how long 5 00:00:14,560 --> 00:00:18,440 Speaker 1: that lasts. Because we've seen the show, we've seen succession, 6 00:00:18,960 --> 00:00:21,840 Speaker 1: we know how this goes. We have a fantastic show 7 00:00:21,880 --> 00:00:25,040 Speaker 1: for you today. Michael Wolfe joins us to talk about 8 00:00:25,040 --> 00:00:27,840 Speaker 1: his new book, The Fall, The End of Fox News 9 00:00:27,880 --> 00:00:31,160 Speaker 1: and the Murdoch Dynasty. Then we'll talk to polster Ben 10 00:00:31,240 --> 00:00:35,479 Speaker 1: Tulchin about how Biden can adopt a populist message to 11 00:00:35,520 --> 00:00:38,200 Speaker 1: do better with the voters he struggles with. But first 12 00:00:38,240 --> 00:00:42,760 Speaker 1: we have Squawkbox contributor and host of on the tape, 13 00:00:42,920 --> 00:00:47,600 Speaker 1: my friend and yours, Dan Nathan. Welcome back, my friend 14 00:00:48,040 --> 00:00:50,600 Speaker 1: Dan Nathan to Fast Politics. 15 00:00:51,040 --> 00:00:52,320 Speaker 2: Molly. It's great to be back with you. 16 00:00:52,560 --> 00:00:56,240 Speaker 1: Let's talk about the economy, the Goldilocks economy. So is 17 00:00:56,320 --> 00:00:58,080 Speaker 1: the economy good or bad? 18 00:00:58,600 --> 00:01:01,080 Speaker 2: Well, it depends in which line you're looking through, right, So, 19 00:01:01,280 --> 00:01:04,560 Speaker 2: if you have a job and you benefited from basically 20 00:01:04,800 --> 00:01:06,800 Speaker 2: wage growth that we've seen over the last few years, 21 00:01:06,840 --> 00:01:08,960 Speaker 2: I think it's been pretty good, right. But the flip 22 00:01:08,959 --> 00:01:11,440 Speaker 2: side of that is, like, you know, inflationary pressures have 23 00:01:11,520 --> 00:01:14,000 Speaker 2: been around now for a couple of years, and you 24 00:01:14,000 --> 00:01:16,199 Speaker 2: know that is the very thing that US Federal Reserve 25 00:01:16,600 --> 00:01:18,480 Speaker 2: is trying to combat. It's also one of the reasons 26 00:01:18,480 --> 00:01:22,840 Speaker 2: why the Biden administration named their fiscal spending policy last 27 00:01:22,920 --> 00:01:25,240 Speaker 2: year the Inflation Reduction Act. I think you and I 28 00:01:25,280 --> 00:01:27,640 Speaker 2: have spent some time talking about that. I'm not really 29 00:01:27,680 --> 00:01:31,240 Speaker 2: sure that that kind of battles high inflation. If anything, 30 00:01:31,280 --> 00:01:34,320 Speaker 2: that could be inflationary, and it could be the very 31 00:01:34,400 --> 00:01:36,880 Speaker 2: situation that we're in right now. You know, you'll hear 32 00:01:36,920 --> 00:01:39,520 Speaker 2: that term goldilocks a bunch. What does it mean. It 33 00:01:39,600 --> 00:01:41,560 Speaker 2: means that, you know, we have, you know, seventy year 34 00:01:41,680 --> 00:01:43,960 Speaker 2: low unemployment, we have wage growth that we haven't seen 35 00:01:43,959 --> 00:01:46,479 Speaker 2: in a long time, but we also have a whole 36 00:01:46,480 --> 00:01:50,480 Speaker 2: host of other costs for lots of consumers that maybe 37 00:01:50,480 --> 00:01:52,960 Speaker 2: wages are not keeping up with. Right So, to answer 38 00:01:53,040 --> 00:01:56,440 Speaker 2: the question, it's not a great economy for kind of 39 00:01:56,560 --> 00:02:00,360 Speaker 2: lower end wage earners right now, despite the benefits that 40 00:02:00,360 --> 00:02:03,400 Speaker 2: they've had of late. Okay, but on the higher end, 41 00:02:03,480 --> 00:02:06,080 Speaker 2: I mean, it seems like in every which way, you know, 42 00:02:06,080 --> 00:02:09,880 Speaker 2: the higher end consumer is doing just fine. So some 43 00:02:09,919 --> 00:02:12,560 Speaker 2: of the stuff that we track fairly closely is the 44 00:02:12,600 --> 00:02:15,440 Speaker 2: savings rate that was really high, you know coming out 45 00:02:15,480 --> 00:02:18,680 Speaker 2: of the pandemic is being drawn down. Consumer credit is 46 00:02:18,720 --> 00:02:21,079 Speaker 2: really high at a time, and this brings us back 47 00:02:21,080 --> 00:02:24,560 Speaker 2: to inflation, where the US Federal Reserve has raised interest 48 00:02:24,639 --> 00:02:27,520 Speaker 2: rates basically from a zero interest rate bound during the 49 00:02:27,560 --> 00:02:30,520 Speaker 2: pandemic to about five and a half percent. We have 50 00:02:30,600 --> 00:02:33,679 Speaker 2: not seen interest rates this high in a very very 51 00:02:33,880 --> 00:02:36,760 Speaker 2: long time. So if you are a consumer and you 52 00:02:36,800 --> 00:02:40,280 Speaker 2: are living paycheck to paycheck, okay, and you are buying 53 00:02:40,320 --> 00:02:42,799 Speaker 2: a lot of stuff on credit and these are floating rates, 54 00:02:43,000 --> 00:02:46,240 Speaker 2: they are astronomically high right now. And so you know, 55 00:02:46,480 --> 00:02:48,639 Speaker 2: there's a whole host of things that I think as 56 00:02:48,639 --> 00:02:51,240 Speaker 2: we settle into and the Federal Reserve set it to 57 00:02:51,320 --> 00:02:53,400 Speaker 2: us this week, that rates are going to be higher 58 00:02:53,400 --> 00:02:56,200 Speaker 2: for longer. I think the lag effects of that tighter 59 00:02:56,240 --> 00:02:59,920 Speaker 2: monetary policy are going to first hit lower end consumers 60 00:03:00,240 --> 00:03:02,040 Speaker 2: and then it's going to work its way into the 61 00:03:02,080 --> 00:03:04,920 Speaker 2: middle and higher you know, kind of bounds in the 62 00:03:04,960 --> 00:03:08,040 Speaker 2: consumer landscape. And so to me, I think that is 63 00:03:08,040 --> 00:03:10,440 Speaker 2: a story for twenty twenty four and through the lens 64 00:03:10,480 --> 00:03:13,040 Speaker 2: that you look at all this, Molly. It's not, in 65 00:03:13,040 --> 00:03:17,119 Speaker 2: my opinion, a great setup if you are the incumbent president, 66 00:03:17,200 --> 00:03:20,000 Speaker 2: in my opinion, because sooner or later, the economy is 67 00:03:20,040 --> 00:03:22,320 Speaker 2: going to slow and we're going to be in a recession. 68 00:03:22,480 --> 00:03:24,880 Speaker 2: And you know, I'm sure the Biden administration is hoping 69 00:03:25,120 --> 00:03:28,520 Speaker 2: it comes after the election, but at some point, I 70 00:03:28,560 --> 00:03:31,520 Speaker 2: think the market is a discounting mechanism. It will sniff 71 00:03:31,560 --> 00:03:33,040 Speaker 2: it out if the economy is going to weaken. 72 00:03:33,360 --> 00:03:35,680 Speaker 1: So you think we're heading for a recession. It's just 73 00:03:35,720 --> 00:03:38,320 Speaker 1: a question of when. But I don't understand because of 74 00:03:38,360 --> 00:03:41,200 Speaker 1: the higher interest rates. Sooner or later, though the Fed 75 00:03:41,320 --> 00:03:44,360 Speaker 1: did just not raise interest rates yesterday. 76 00:03:44,720 --> 00:03:46,560 Speaker 2: They did and so one of the big issues is 77 00:03:46,600 --> 00:03:49,520 Speaker 2: that this lag effect of monetary policy, right, and so 78 00:03:49,600 --> 00:03:52,440 Speaker 2: they acknowledged that. Economists acknowledge that, and so here we are. 79 00:03:52,440 --> 00:03:55,120 Speaker 2: They started raising interest rates in March of twenty twenty two, 80 00:03:55,520 --> 00:03:58,560 Speaker 2: so we're about eighteen months. And normally when you have 81 00:03:59,120 --> 00:04:02,440 Speaker 2: that sort of tightening a monetary policy, you will see 82 00:04:02,560 --> 00:04:05,320 Speaker 2: the economy start to weaken. That was the goal of 83 00:04:05,400 --> 00:04:08,000 Speaker 2: raising interest rates to cool off the economy. If the 84 00:04:08,000 --> 00:04:11,720 Speaker 2: economy continue to go and gangbusters pace because of all 85 00:04:11,720 --> 00:04:14,880 Speaker 2: the fiscal and monetary stimulus, we're ultimately going to have 86 00:04:15,040 --> 00:04:18,120 Speaker 2: a bubble inflate and then crash. And you don't have 87 00:04:18,160 --> 00:04:21,040 Speaker 2: to go too far back to remember the global financial 88 00:04:21,040 --> 00:04:23,800 Speaker 2: crisis where interest rates were kept too low for too 89 00:04:23,839 --> 00:04:26,760 Speaker 2: long to combat what we had as a recession post 90 00:04:26,800 --> 00:04:29,200 Speaker 2: of the dot com bubble, right, And so in each 91 00:04:29,240 --> 00:04:32,880 Speaker 2: of those instances, they were followed by market crashes where 92 00:04:32,880 --> 00:04:36,360 Speaker 2: the S and P five hundred, the major US equity market, 93 00:04:36,640 --> 00:04:40,480 Speaker 2: was cut in half. Okay, and then we also had recessions. 94 00:04:40,560 --> 00:04:42,920 Speaker 2: And so I think the FED fear is that, and 95 00:04:42,960 --> 00:04:46,159 Speaker 2: you hear all this talk about a soft landing or 96 00:04:46,200 --> 00:04:48,560 Speaker 2: a no landing. A hard landing would be a very 97 00:04:48,560 --> 00:04:51,719 Speaker 2: bad recession. I think the FED is trying to wrap 98 00:04:52,279 --> 00:04:54,600 Speaker 2: kind of wrap their arms around how do we get 99 00:04:54,600 --> 00:04:58,560 Speaker 2: to a soft landing where the tighter monetary policy kind 100 00:04:58,560 --> 00:05:01,719 Speaker 2: of slows the economy, doesn't break the economy and push 101 00:05:01,839 --> 00:05:03,320 Speaker 2: us into a hard recession. 102 00:05:03,400 --> 00:05:06,880 Speaker 1: I want to go further on this monetary policy idea 103 00:05:06,920 --> 00:05:10,400 Speaker 1: because there are people who blame Biden, And if you 104 00:05:10,400 --> 00:05:12,320 Speaker 1: blame Biden for this, you also have to blame Trump 105 00:05:12,400 --> 00:05:14,440 Speaker 1: for this, because this is something Trump did too, that 106 00:05:14,640 --> 00:05:17,960 Speaker 1: we have had years and years and years of like 107 00:05:18,120 --> 00:05:21,479 Speaker 1: printing money, of pushing money into the economy, a very 108 00:05:21,560 --> 00:05:25,839 Speaker 1: cheap money, of this modern monetary theory which says, just 109 00:05:26,080 --> 00:05:29,000 Speaker 1: go for it, Nothing's going to happen. So how much 110 00:05:29,040 --> 00:05:30,680 Speaker 1: of this is a blowback from that? 111 00:05:31,160 --> 00:05:33,960 Speaker 2: I will say this that President Trump brought in the 112 00:05:34,080 --> 00:05:38,200 Speaker 2: current FED Chair, Jerome Powell, Okay, to be his pick. 113 00:05:38,240 --> 00:05:40,919 Speaker 2: And this was in back in twenty and seventeen. And 114 00:05:40,960 --> 00:05:44,320 Speaker 2: FED Chair pal started out by raising interest rates in 115 00:05:44,360 --> 00:05:47,159 Speaker 2: twenty and eighteen, and you know, he was trying to 116 00:05:47,240 --> 00:05:50,520 Speaker 2: normalize interest rate policy after years and years of easy 117 00:05:50,560 --> 00:05:54,359 Speaker 2: monetary policy that came with the financial crisis. Right. So 118 00:05:54,480 --> 00:05:58,080 Speaker 2: here drum pale is under President Biden, and you know, 119 00:05:58,160 --> 00:06:00,800 Speaker 2: interest rates have gone up faster than they have on 120 00:06:00,920 --> 00:06:03,960 Speaker 2: any administration in decades. Okay, So now all of a 121 00:06:04,000 --> 00:06:06,680 Speaker 2: sudden you have this situation. Though I think the Biden 122 00:06:06,720 --> 00:06:10,560 Speaker 2: administration is probably correct to identify the fact that if 123 00:06:10,560 --> 00:06:13,640 Speaker 2: they were to kind of support a pullback in rates, 124 00:06:13,839 --> 00:06:17,880 Speaker 2: that inflation could be a worse enemy than high interest rates. Right, 125 00:06:17,920 --> 00:06:21,440 Speaker 2: So they're in a really difficult situation here, and it 126 00:06:21,520 --> 00:06:24,440 Speaker 2: does become political as we get into twenty twenty four, 127 00:06:24,520 --> 00:06:27,720 Speaker 2: because every week we are going to have candidates on 128 00:06:28,000 --> 00:06:30,359 Speaker 2: the right that are going to be kind of railing 129 00:06:30,400 --> 00:06:33,719 Speaker 2: against whatever that FED share pals doing. They're going to 130 00:06:33,720 --> 00:06:36,840 Speaker 2: say it's perfectly political. They're going to say that the 131 00:06:36,880 --> 00:06:41,360 Speaker 2: former FED chair Janet Yellen, who is now Biden's Treasury secretary, 132 00:06:41,440 --> 00:06:43,120 Speaker 2: right is in bed with the FED, and the FED 133 00:06:43,160 --> 00:06:46,000 Speaker 2: is supposed to be an independent organization. So this is 134 00:06:46,040 --> 00:06:48,840 Speaker 2: going to get very politicized very soon. And going back 135 00:06:48,880 --> 00:06:51,719 Speaker 2: to what I said before is that if you think that, 136 00:06:51,839 --> 00:06:55,159 Speaker 2: you know, a stronger economy has been a good thing 137 00:06:55,400 --> 00:06:58,799 Speaker 2: for this administration, I'd say yes, but he's not getting 138 00:06:58,839 --> 00:07:00,760 Speaker 2: any credit for it. That's present and Biden, if just 139 00:07:00,800 --> 00:07:04,560 Speaker 2: look at the polling on the economy, it's really bad. 140 00:07:04,760 --> 00:07:07,760 Speaker 2: And so I don't know if it gets better from here, 141 00:07:07,839 --> 00:07:10,280 Speaker 2: which is why I think that that whole campaign that 142 00:07:10,320 --> 00:07:12,559 Speaker 2: they had a couple months ago with Bidenomics and getting 143 00:07:12,600 --> 00:07:14,280 Speaker 2: them out there and his folks, you know, and I 144 00:07:14,280 --> 00:07:16,120 Speaker 2: think the last time we talked, they need to do 145 00:07:16,160 --> 00:07:18,320 Speaker 2: a better job on this because if the economy is 146 00:07:18,360 --> 00:07:20,720 Speaker 2: okay right now and we are not in recession and 147 00:07:20,760 --> 00:07:23,200 Speaker 2: it's been able to withstand the sort of interest rate 148 00:07:23,560 --> 00:07:25,960 Speaker 2: hikes that have happened over the last eighteen months, then 149 00:07:26,000 --> 00:07:29,240 Speaker 2: there's a story to tell. With unemployment as low as 150 00:07:29,240 --> 00:07:31,400 Speaker 2: it is right now. So to me, I think that's 151 00:07:31,400 --> 00:07:32,960 Speaker 2: a whole host of great things that they could be 152 00:07:33,000 --> 00:07:35,200 Speaker 2: talking about. And then the reshoring of a lot of 153 00:07:35,320 --> 00:07:37,560 Speaker 2: jobs that are incentivized by a lot of stuff in 154 00:07:37,600 --> 00:07:40,000 Speaker 2: this fiscal you know, plans that they kind of laid 155 00:07:40,040 --> 00:07:41,840 Speaker 2: out last year and the IRA and stuff. Those are 156 00:07:41,920 --> 00:07:45,600 Speaker 2: all good for US workers, but they're also inflationary because 157 00:07:45,640 --> 00:07:48,200 Speaker 2: one of the worst sort of I think takes about 158 00:07:48,400 --> 00:07:52,200 Speaker 2: the last fifty years with globalization is that you know, 159 00:07:52,240 --> 00:07:55,280 Speaker 2: we got as consumers, you know, we got addicted to 160 00:07:55,360 --> 00:07:58,680 Speaker 2: cheap goods, and if that's going to be reversing out 161 00:07:58,760 --> 00:08:01,760 Speaker 2: of China, it's going to be inflationary and better be 162 00:08:02,000 --> 00:08:04,040 Speaker 2: prepared to pay more for your iPhone and some other 163 00:08:04,080 --> 00:08:05,560 Speaker 2: things that are going to be made in other places 164 00:08:05,600 --> 00:08:06,200 Speaker 2: closer to home. 165 00:08:06,440 --> 00:08:10,560 Speaker 1: Yes, for sure. And I mean that's the fundamental thing 166 00:08:10,600 --> 00:08:14,040 Speaker 1: that people are so upset about, is paying more for things. Right, 167 00:08:14,160 --> 00:08:17,640 Speaker 1: Like people in America do not like pay more for things. 168 00:08:18,000 --> 00:08:19,640 Speaker 2: Well, I mean, listen, it goes back in the Trump 169 00:08:19,680 --> 00:08:22,040 Speaker 2: administration when they started this trade war with China. I 170 00:08:22,120 --> 00:08:24,000 Speaker 2: mean it was really interesting in a way, is that 171 00:08:24,040 --> 00:08:25,520 Speaker 2: a lot of folks are a lot of people that 172 00:08:25,560 --> 00:08:28,560 Speaker 2: support him didn't realize that they were supporting something that 173 00:08:28,600 --> 00:08:31,560 Speaker 2: worked against their best interests. Right when steel prices are 174 00:08:31,600 --> 00:08:35,040 Speaker 2: more expensive and you are you know, an auto worker, 175 00:08:35,240 --> 00:08:38,280 Speaker 2: you know, and less cars are being sold because the 176 00:08:38,320 --> 00:08:41,360 Speaker 2: prices are higher, you know, this all happens to come back. 177 00:08:41,400 --> 00:08:45,080 Speaker 2: And so if plants have to close because there's less 178 00:08:45,080 --> 00:08:47,359 Speaker 2: demand for things, I mean, these are all the fundamental 179 00:08:47,640 --> 00:08:50,520 Speaker 2: you know, economic issues that we have to deal with. 180 00:08:50,600 --> 00:08:53,679 Speaker 2: And when you map them to politics, and when you 181 00:08:53,720 --> 00:08:56,360 Speaker 2: have people like the last administration who surely have no 182 00:08:56,480 --> 00:08:59,960 Speaker 2: idea about much of this, you know, it gets really slow. 183 00:09:00,440 --> 00:09:02,760 Speaker 2: You could make the case that the Biden administration has 184 00:09:02,800 --> 00:09:06,360 Speaker 2: been as hard or harder on China. So like the 185 00:09:06,400 --> 00:09:09,920 Speaker 2: situation with China only gets worse from here. Also, and 186 00:09:09,960 --> 00:09:11,520 Speaker 2: I'll just tell you a lot of folks that are 187 00:09:11,559 --> 00:09:15,400 Speaker 2: involved in markets and this is the number one bugaboo, 188 00:09:15,480 --> 00:09:19,160 Speaker 2: if you will, China and kind of decoupling from China. 189 00:09:19,240 --> 00:09:22,360 Speaker 2: And I don't think whoever wins in twenty twenty four 190 00:09:22,800 --> 00:09:25,240 Speaker 2: and whoever takes the Senate, I don't think anything changes 191 00:09:25,280 --> 00:09:28,320 Speaker 2: in that regard. It seems to be fairly bipartisan. And 192 00:09:28,360 --> 00:09:30,160 Speaker 2: I'll tell you that. The other thing that you know, 193 00:09:30,240 --> 00:09:32,360 Speaker 2: it might not be under the radar for too long, 194 00:09:32,600 --> 00:09:35,080 Speaker 2: the fact that our neighbors to the north are in 195 00:09:35,160 --> 00:09:39,760 Speaker 2: this big brew haha with India. India's most beneficiary of 196 00:09:39,960 --> 00:09:42,680 Speaker 2: kind of you know, moving away from China. And if 197 00:09:42,720 --> 00:09:45,760 Speaker 2: the North America is in a bit of a row 198 00:09:45,920 --> 00:09:48,840 Speaker 2: with two and a half trillion as far as populous, 199 00:09:48,960 --> 00:09:51,800 Speaker 2: you know what I mean, between India and China, we 200 00:09:52,280 --> 00:09:55,080 Speaker 2: might be headed to what looks like a more bipolar 201 00:09:55,280 --> 00:09:59,200 Speaker 2: world as it relates to just kind of geopolitics and 202 00:09:59,320 --> 00:10:00,640 Speaker 2: economics globalization. 203 00:10:01,080 --> 00:10:04,600 Speaker 1: With China, one of the things that Biden administration has 204 00:10:04,640 --> 00:10:08,120 Speaker 1: been doing is they've been quietly trying to sort of 205 00:10:08,200 --> 00:10:11,840 Speaker 1: shore up that relationship, but also shore up in Japan, 206 00:10:12,200 --> 00:10:16,680 Speaker 1: South Korea, the other countries on that peninsula or near 207 00:10:16,760 --> 00:10:20,400 Speaker 1: that you know, in that area who are useful if 208 00:10:20,440 --> 00:10:23,319 Speaker 1: you need to kind of go against China. I mean, 209 00:10:23,360 --> 00:10:26,800 Speaker 1: it feels like we're at an uneasy day tent with China. 210 00:10:26,400 --> 00:10:28,640 Speaker 2: Very uneasy. I mean, it doesn't get better from here, 211 00:10:28,679 --> 00:10:30,840 Speaker 2: as I said before, because you know, at some point. 212 00:10:31,320 --> 00:10:34,200 Speaker 2: All indications are that they're going to make some sort 213 00:10:34,200 --> 00:10:36,839 Speaker 2: of move on Taiwan, and it could start out as 214 00:10:36,880 --> 00:10:40,040 Speaker 2: some sort of economic sort of blockade, it could be 215 00:10:40,120 --> 00:10:42,880 Speaker 2: something militarily. I mean some of the exercises that they're 216 00:10:42,960 --> 00:10:44,480 Speaker 2: running right now, those are the sorts of things that 217 00:10:44,520 --> 00:10:47,360 Speaker 2: obviously make the Japanese and the South Koreans very nervous. 218 00:10:47,360 --> 00:10:49,560 Speaker 2: And when you think about China and you think about 219 00:10:49,640 --> 00:10:52,640 Speaker 2: North Korea, how they've been cozing up to Russia, who 220 00:10:52,760 --> 00:10:56,360 Speaker 2: just invaded obviously last year, a sovereign neighbor of theirs, 221 00:10:56,600 --> 00:10:59,240 Speaker 2: A lot of these things are really intertwined, right And 222 00:10:59,320 --> 00:11:02,120 Speaker 2: so you know, when I think about China is like 223 00:11:02,280 --> 00:11:06,400 Speaker 2: the multinationals US multinational companies and the precedent that they 224 00:11:06,520 --> 00:11:11,120 Speaker 2: set when Russia rolled into Ukraine by pulling out of Russia, 225 00:11:11,440 --> 00:11:13,960 Speaker 2: you know, is that going to be the map? Is 226 00:11:14,000 --> 00:11:16,880 Speaker 2: that going to be the playbook for US multinationals if 227 00:11:16,880 --> 00:11:20,400 Speaker 2: the Chinese do anything with Taiwan. And when you think 228 00:11:20,400 --> 00:11:24,000 Speaker 2: about China as being this engine for global growth over 229 00:11:24,000 --> 00:11:27,080 Speaker 2: the last twenty years, the economic data in China right 230 00:11:27,120 --> 00:11:30,400 Speaker 2: now is really bad. Export data is really bad. They're 231 00:11:30,520 --> 00:11:34,640 Speaker 2: facing bouts of deflation right now. So if they in 232 00:11:34,679 --> 00:11:37,760 Speaker 2: an effort to kind of restimulate, you know, whatever sort 233 00:11:37,760 --> 00:11:40,920 Speaker 2: of activity, and they see Taiwan and a good way 234 00:11:40,960 --> 00:11:45,760 Speaker 2: to do it. You know, US multinationals, Japan and South Korea, 235 00:11:45,880 --> 00:11:48,000 Speaker 2: you know, are very staunch allies. We're going to be 236 00:11:48,040 --> 00:11:49,520 Speaker 2: in a bit of a pickle. And that is the 237 00:11:49,559 --> 00:11:52,160 Speaker 2: sort of thing that could send the global economy into 238 00:11:52,280 --> 00:11:55,080 Speaker 2: a really bad place, especially if you think that we 239 00:11:55,200 --> 00:11:59,319 Speaker 2: will have a redo of the inflationary pressures on natural resources. 240 00:11:59,320 --> 00:12:03,440 Speaker 2: You know, remember what happened with oil after Russia invaded Ukraine. 241 00:12:03,760 --> 00:12:06,720 Speaker 2: So those are you know, China is a huge buyer 242 00:12:06,840 --> 00:12:09,640 Speaker 2: of natural resources and crewed in the like in natural gas. 243 00:12:09,800 --> 00:12:12,280 Speaker 2: So you know, all this stuff is kind of interrelated 244 00:12:12,400 --> 00:12:15,040 Speaker 2: and it makes a lot of people, you know, away 245 00:12:15,080 --> 00:12:17,160 Speaker 2: from the human aspect of it. And I think that 246 00:12:17,200 --> 00:12:19,440 Speaker 2: obviously is not something that we should kind of poo poo, 247 00:12:19,559 --> 00:12:22,720 Speaker 2: But from an economic standpoint and from a geopolitical standpoint, 248 00:12:22,760 --> 00:12:24,920 Speaker 2: I mean, this is this is the one thing I 249 00:12:24,960 --> 00:12:27,959 Speaker 2: think that has the ability to really kind of break 250 00:12:27,960 --> 00:12:30,640 Speaker 2: the economy right now at a time where interest rates 251 00:12:30,679 --> 00:12:33,640 Speaker 2: again have only been going higher to deal with inflation, 252 00:12:33,800 --> 00:12:36,880 Speaker 2: and all of what I just said is inflationary deglobalization 253 00:12:37,240 --> 00:12:40,160 Speaker 2: and then geopolitical rowse between you know, China and Taiwan 254 00:12:40,200 --> 00:12:41,080 Speaker 2: or Russia and Ukraine. 255 00:12:41,280 --> 00:12:45,160 Speaker 1: That's very annoying. But can China kick the rest of 256 00:12:45,160 --> 00:12:47,960 Speaker 1: the world into a recession? Is that what you're painting? 257 00:12:48,400 --> 00:12:50,920 Speaker 2: Yeah? I think that does have the potential to do that, right, 258 00:12:51,000 --> 00:12:53,720 Speaker 2: So where is the incremental growth that could happen around 259 00:12:53,760 --> 00:12:55,920 Speaker 2: the globe right now? Europe is in a you know, 260 00:12:56,000 --> 00:12:57,120 Speaker 2: recessionary sort of. 261 00:12:57,120 --> 00:13:01,160 Speaker 1: Environment, right and England does forget it, Yeah, England is 262 00:13:01,200 --> 00:13:02,560 Speaker 1: not particularly great here. 263 00:13:02,600 --> 00:13:04,640 Speaker 2: And so when you think about what is the kind 264 00:13:04,640 --> 00:13:08,120 Speaker 2: of knock on effect of US consumers are basically seventy 265 00:13:08,120 --> 00:13:10,840 Speaker 2: percent of our GDP our gross domestic product here, and 266 00:13:10,880 --> 00:13:13,240 Speaker 2: if the US consumer to slow down because interest rates 267 00:13:13,240 --> 00:13:15,400 Speaker 2: are too high because you know, they're not going to 268 00:13:15,480 --> 00:13:18,640 Speaker 2: tap home equity loans with you know, mortgage rates you know, 269 00:13:18,679 --> 00:13:21,920 Speaker 2: above seven percent, if floating rates on credit, which is 270 00:13:22,200 --> 00:13:25,320 Speaker 2: hitting for consumers all time highs right now, is just 271 00:13:25,400 --> 00:13:28,480 Speaker 2: not sustainable to continue this level of growth. I mean 272 00:13:28,520 --> 00:13:30,920 Speaker 2: it's going to be really hard, right like to keep 273 00:13:30,960 --> 00:13:34,360 Speaker 2: our economy humming along. So the idea of a recession 274 00:13:34,360 --> 00:13:38,440 Speaker 2: that's two consecutive negative quarters of GDP. That's not so hard, 275 00:13:38,600 --> 00:13:40,760 Speaker 2: and it's not even that bad of a thing. Those 276 00:13:40,800 --> 00:13:44,640 Speaker 2: are their natural cycles in economies here, right, But the 277 00:13:44,679 --> 00:13:48,600 Speaker 2: fact that we've become so interrelated with let's say Europe 278 00:13:48,760 --> 00:13:51,520 Speaker 2: and with China, and if China is weakening and Europe 279 00:13:51,559 --> 00:13:54,120 Speaker 2: is already weak, and there's a potential for you know, 280 00:13:54,200 --> 00:13:57,600 Speaker 2: some major hiccups as it relates to our manufacturing in China. 281 00:13:58,080 --> 00:13:59,880 Speaker 2: Like to me, I just don't know how we avoid 282 00:14:00,080 --> 00:14:02,080 Speaker 2: recession in the next year or so. And if you 283 00:14:02,120 --> 00:14:03,839 Speaker 2: had asked me a year ago at this time, I 284 00:14:03,880 --> 00:14:06,360 Speaker 2: would have said in twenty twenty three. But the longer 285 00:14:06,400 --> 00:14:09,400 Speaker 2: we kick the can down the road, the more unstable 286 00:14:09,480 --> 00:14:12,720 Speaker 2: our US consumer is. And if our US consumer is 287 00:14:13,000 --> 00:14:17,400 Speaker 2: literally the engine behind our economic growth, with China weakening 288 00:14:17,559 --> 00:14:20,440 Speaker 2: at a time when we're diversifying away from China, it's 289 00:14:20,600 --> 00:14:22,960 Speaker 2: just not a great picture right now. So I wish 290 00:14:23,080 --> 00:14:25,040 Speaker 2: I know you said it's annoying. I wish I had 291 00:14:25,040 --> 00:14:28,200 Speaker 2: a rosier outlook. And if you want to talk about goldilocks, 292 00:14:28,240 --> 00:14:30,560 Speaker 2: that's great, that's backward looking. If you look at a 293 00:14:30,560 --> 00:14:33,520 Speaker 2: lot of the leading indicators for the economy, they're softening 294 00:14:33,600 --> 00:14:34,120 Speaker 2: right now. 295 00:14:34,160 --> 00:14:37,320 Speaker 1: So interesting so let me ask you, what could the 296 00:14:37,320 --> 00:14:38,600 Speaker 1: Biden administration do? 297 00:14:39,320 --> 00:14:41,760 Speaker 2: Yeah, I mean, at this point, I don't think, you know, 298 00:14:41,840 --> 00:14:44,360 Speaker 2: more fiscal stimulus is the right thing that. 299 00:14:44,400 --> 00:14:46,200 Speaker 1: Will cause more inflation. 300 00:14:46,640 --> 00:14:48,520 Speaker 2: And you know, like when you think about polls and 301 00:14:48,560 --> 00:14:50,640 Speaker 2: you think about the sorts of things that like voters 302 00:14:50,680 --> 00:14:53,120 Speaker 2: when they're going to vote, you know, I mean, what 303 00:14:53,120 --> 00:14:55,880 Speaker 2: do they care about? They care about their economic stability, 304 00:14:55,880 --> 00:14:57,920 Speaker 2: They care about their job and that sort of thing, 305 00:14:57,960 --> 00:14:59,880 Speaker 2: and a lot of these other issues that will help, 306 00:15:00,160 --> 00:15:03,120 Speaker 2: I think, define the twenty twenty four election. Guns and 307 00:15:03,160 --> 00:15:06,680 Speaker 2: abortion and immigration. I think they're a side show if 308 00:15:06,720 --> 00:15:08,440 Speaker 2: you feel like you you know, have to make a 309 00:15:08,520 --> 00:15:12,120 Speaker 2: choice between feeding your family and paying your heating bill 310 00:15:12,280 --> 00:15:14,080 Speaker 2: or you think you're going to be you know, losing 311 00:15:14,080 --> 00:15:17,080 Speaker 2: your job, and tuition has become too expensive, healthcare is 312 00:15:17,080 --> 00:15:19,640 Speaker 2: to so they have to control the narrative better. I 313 00:15:19,640 --> 00:15:22,440 Speaker 2: think they've done a very poor job. I'm at doing that. 314 00:15:22,480 --> 00:15:25,160 Speaker 2: They need more, you know, people out there telling the 315 00:15:25,240 --> 00:15:28,920 Speaker 2: story how US consumers are doing better than they were 316 00:15:29,000 --> 00:15:30,720 Speaker 2: four years ago in the like, and I just don't 317 00:15:30,720 --> 00:15:33,200 Speaker 2: think they're good at that. Again, I don't think more 318 00:15:33,240 --> 00:15:36,280 Speaker 2: fiscal stimulus would do the sort of thing. But some 319 00:15:36,360 --> 00:15:38,880 Speaker 2: sort of good resolution with this United Auto Worker and 320 00:15:38,920 --> 00:15:41,680 Speaker 2: where the government is helpful, I think would be really 321 00:15:41,680 --> 00:15:44,480 Speaker 2: good because that is a voting you know, block that 322 00:15:44,560 --> 00:15:47,000 Speaker 2: I think is should be important to the Biden being 323 00:15:47,040 --> 00:15:50,680 Speaker 2: re elected. So I think there's just being more upfront 324 00:15:50,800 --> 00:15:53,040 Speaker 2: about these issues and how this is not going to 325 00:15:53,080 --> 00:15:56,120 Speaker 2: be an easy situation to tame because inflation is not 326 00:15:56,240 --> 00:16:00,320 Speaker 2: going down meaningfully anytime soon, and interest rates are to 327 00:16:00,400 --> 00:16:02,880 Speaker 2: have to stay higher for longer. That's at least what 328 00:16:02,920 --> 00:16:05,360 Speaker 2: the Fed's telling The only way interest rates go down 329 00:16:05,440 --> 00:16:07,440 Speaker 2: a lot. They're not going to be good for good 330 00:16:07,480 --> 00:16:11,280 Speaker 2: economic reasons. They've gone down in the post Dot com recession, 331 00:16:11,360 --> 00:16:13,720 Speaker 2: and then they went down in the period during the 332 00:16:13,760 --> 00:16:16,320 Speaker 2: financial crisis. We don't want any of those sorts of 333 00:16:16,360 --> 00:16:18,480 Speaker 2: situations happen. So if they can kind of thread the 334 00:16:18,520 --> 00:16:20,760 Speaker 2: needle a little bit and kind of get to the 335 00:16:20,800 --> 00:16:24,080 Speaker 2: other side of twenty twenty four without having to do 336 00:16:24,120 --> 00:16:26,240 Speaker 2: anything dramatic, I think they just have to control the 337 00:16:26,320 --> 00:16:26,920 Speaker 2: narrative better. 338 00:16:27,040 --> 00:16:29,400 Speaker 1: And that's why they didn't raise rates again. 339 00:16:29,680 --> 00:16:31,760 Speaker 2: I think what the FED is saying to us, and 340 00:16:31,800 --> 00:16:34,080 Speaker 2: this has nothing to do with the administration. I mean, 341 00:16:34,120 --> 00:16:36,320 Speaker 2: the administration can try to put pressure on them, but 342 00:16:37,000 --> 00:16:40,320 Speaker 2: they are independent of the administration. Janet Yellen, who's the 343 00:16:40,320 --> 00:16:43,240 Speaker 2: Treasury Secretary, the former the head of the FED, I mean, 344 00:16:43,320 --> 00:16:45,560 Speaker 2: she can be as political as she wants, but she 345 00:16:45,760 --> 00:16:48,120 Speaker 2: cannot try to do things to influence the US FED. 346 00:16:48,280 --> 00:16:50,480 Speaker 2: So they didn't raise interest rates because they wanted to 347 00:16:50,480 --> 00:16:53,040 Speaker 2: take a pause. Now, the likelihood is that they raise 348 00:16:53,080 --> 00:16:56,120 Speaker 2: interest rates at the next meeting in November another twenty 349 00:16:56,120 --> 00:16:58,320 Speaker 2: five basis points, getting the FED funds rates of five 350 00:16:58,320 --> 00:17:02,200 Speaker 2: point seventy five percent. That shouldn't have a too dramatic 351 00:17:02,200 --> 00:17:04,760 Speaker 2: of impact on the economy, especially after they've just raised 352 00:17:04,800 --> 00:17:07,200 Speaker 2: five and a half percent over the last eighteen nineteen 353 00:17:07,240 --> 00:17:09,560 Speaker 2: months or so. But the point here is that they 354 00:17:09,560 --> 00:17:11,919 Speaker 2: are going to watch the data, and if the data 355 00:17:12,040 --> 00:17:15,040 Speaker 2: continues to be inflationary, then they need to have tighter 356 00:17:15,080 --> 00:17:18,000 Speaker 2: monetary policy. But if the data falls off a cliff 357 00:17:18,119 --> 00:17:21,199 Speaker 2: and gets much worse, that's a whole host of other problems, 358 00:17:21,240 --> 00:17:24,640 Speaker 2: and especially politically for the Biden administration. So I think 359 00:17:24,720 --> 00:17:27,679 Speaker 2: if they could freeze things right here, right now and 360 00:17:27,720 --> 00:17:31,040 Speaker 2: flash forward to the November twenty twenty four, I think 361 00:17:31,040 --> 00:17:33,480 Speaker 2: they would do that. But the likelihood that things stay 362 00:17:33,480 --> 00:17:35,520 Speaker 2: static right now is not particularly great. 363 00:17:35,800 --> 00:17:37,480 Speaker 1: Dan, thank you so much. 364 00:17:38,040 --> 00:17:39,960 Speaker 2: Thank you, Molly. I appreciate being on the pod. I 365 00:17:40,000 --> 00:17:44,119 Speaker 2: love the pod, and I'm amazed at which you do 366 00:17:44,320 --> 00:17:47,560 Speaker 2: nine a plus interviews a week on Fast Politics. It's 367 00:17:47,600 --> 00:17:48,920 Speaker 2: just beyond me, so keep it up. 368 00:17:52,359 --> 00:17:55,160 Speaker 1: Michael Wolfe is the author of The Fall, The End 369 00:17:55,160 --> 00:18:00,280 Speaker 1: of Fox News, and The Murdoch Dynasty. Welcome to Fast Politics. 370 00:17:59,720 --> 00:18:02,359 Speaker 3: Michael Lollie, Thank you for having me. 371 00:18:02,760 --> 00:18:05,440 Speaker 1: Thank you for coming on this as a hot hot book. 372 00:18:05,680 --> 00:18:06,960 Speaker 3: Have you gotten a copy of it? 373 00:18:07,320 --> 00:18:10,040 Speaker 1: I have a copy, but I just got it, so 374 00:18:10,119 --> 00:18:13,119 Speaker 1: I haven't finished yet. Let's talk about first. You've written 375 00:18:13,160 --> 00:18:16,240 Speaker 1: a lot of books. You have written about a lot 376 00:18:16,280 --> 00:18:19,399 Speaker 1: of politicians and people, and why did you pick this. 377 00:18:19,920 --> 00:18:22,520 Speaker 4: I haven't written about a lot of politicians. I really 378 00:18:22,560 --> 00:18:25,240 Speaker 4: don't like to write about politicians. I have written about 379 00:18:25,280 --> 00:18:29,760 Speaker 4: Donald Trump, who I would say is distinguished by not 380 00:18:29,920 --> 00:18:30,920 Speaker 4: being a politician. 381 00:18:31,119 --> 00:18:32,199 Speaker 1: I think that's a good point. 382 00:18:32,560 --> 00:18:36,040 Speaker 4: But I have written a lot about Rupert Murdoch. So 383 00:18:36,160 --> 00:18:39,800 Speaker 4: I have been writing about Rupert Murdoch since when was 384 00:18:39,920 --> 00:18:44,359 Speaker 4: my Murdoch biography published in two thousand and nine, And 385 00:18:44,760 --> 00:18:47,760 Speaker 4: before that I was New York Magazines media reporter and 386 00:18:47,880 --> 00:18:51,440 Speaker 4: vanity fairs media reporter. So I often wrote about Murdoch, 387 00:18:51,520 --> 00:18:55,720 Speaker 4: and then Murdoch let me in for some reason that 388 00:18:55,800 --> 00:18:58,760 Speaker 4: I'm sure he can't explain, nor can I let me 389 00:18:59,040 --> 00:19:04,439 Speaker 4: into his world, very quite intimately, and I spent a 390 00:19:04,600 --> 00:19:11,480 Speaker 4: year basically interviewing him, his family, his executives, anybody I 391 00:19:11,480 --> 00:19:14,159 Speaker 4: wanted to, including his mother. So I have been writing 392 00:19:14,200 --> 00:19:18,119 Speaker 4: about him on a fairly steady basis since then. And 393 00:19:18,200 --> 00:19:20,800 Speaker 4: this is kind of, you know, a book end. I mean, 394 00:19:21,119 --> 00:19:24,640 Speaker 4: it is ending. I mean, Murdoch is ninety two, and 395 00:19:24,880 --> 00:19:28,640 Speaker 4: the end comes even to him sooner rather than later. 396 00:19:28,920 --> 00:19:31,880 Speaker 4: The curious point of this story is that that end 397 00:19:32,000 --> 00:19:38,119 Speaker 4: will take Fox, arguably the most powerful political influence in 398 00:19:38,160 --> 00:19:41,439 Speaker 4: this country. His end will take Fox with it. You 399 00:19:41,600 --> 00:19:45,399 Speaker 4: can't take Fox with you. You can't take Fox. So 400 00:19:45,480 --> 00:19:48,359 Speaker 4: you really do think that the death of Ruper Murdock 401 00:19:48,400 --> 00:19:49,679 Speaker 4: will be the end of Fox News? 402 00:19:49,960 --> 00:19:50,600 Speaker 3: Absolutely? 403 00:19:50,680 --> 00:19:54,000 Speaker 4: I mean, I don't think that there's any piece of 404 00:19:54,119 --> 00:19:58,040 Speaker 4: logic that could find an alternative to that. It ends. 405 00:19:58,200 --> 00:20:02,880 Speaker 4: Because this is a company that is really exists because 406 00:20:02,920 --> 00:20:06,920 Speaker 4: of one man, and he has children who will take 407 00:20:07,000 --> 00:20:11,320 Speaker 4: over control of the company. Four children. You have six children, 408 00:20:11,359 --> 00:20:14,359 Speaker 4: but there are four who will take over they do 409 00:20:14,440 --> 00:20:18,400 Speaker 4: not agree with each other on and their disagreements kind 410 00:20:18,400 --> 00:20:22,600 Speaker 4: of approach the mortal level. It's a blood score between them, 411 00:20:22,760 --> 00:20:26,920 Speaker 4: and there's a virtually no scenario in which they can 412 00:20:27,000 --> 00:20:29,199 Speaker 4: go forward in agreement. 413 00:20:29,560 --> 00:20:32,440 Speaker 1: So tell me what you think Ruper Murdoch will think 414 00:20:32,480 --> 00:20:34,879 Speaker 1: of this book if he has not gotten it yet. 415 00:20:35,240 --> 00:20:39,080 Speaker 4: That's an interesting thing because when the Murdoch organization doesn't 416 00:20:39,280 --> 00:20:44,280 Speaker 4: like something, it responds with, or, at least in my experience, 417 00:20:45,040 --> 00:20:47,040 Speaker 4: responds with a unique. 418 00:20:46,720 --> 00:20:47,760 Speaker 3: Kind of venom. 419 00:20:48,240 --> 00:20:51,880 Speaker 4: After my biography of Murdoch was published, which he did 420 00:20:51,880 --> 00:20:55,240 Speaker 4: not like at all, which I always found somewhat curious 421 00:20:55,280 --> 00:20:58,560 Speaker 4: because it's really not a negative biography. When he got 422 00:20:58,560 --> 00:21:00,200 Speaker 4: a copy of it, he called me up and a 423 00:21:00,400 --> 00:21:03,159 Speaker 4: fear tried to get him to tell me what he 424 00:21:03,240 --> 00:21:07,439 Speaker 4: objected to, and he finally sputtered out, but it's just 425 00:21:07,600 --> 00:21:10,840 Speaker 4: so personal, and I said, but. 426 00:21:10,680 --> 00:21:13,240 Speaker 3: Rupert, it's a biography at any rate. 427 00:21:13,400 --> 00:21:17,680 Speaker 4: He didn't like it, and part of his response ended 428 00:21:17,760 --> 00:21:21,240 Speaker 4: up being quite painful for me because my marriage was 429 00:21:21,280 --> 00:21:24,200 Speaker 4: then breaking up at that point, and I was involved 430 00:21:24,240 --> 00:21:27,760 Speaker 4: with someone else, which nobody else knew except the New 431 00:21:27,840 --> 00:21:30,280 Speaker 4: York Post found out. They went out of their way 432 00:21:30,359 --> 00:21:33,359 Speaker 4: shall we say, to find out and raked me through 433 00:21:33,760 --> 00:21:36,800 Speaker 4: for weeks or certainly what felt like weeks on and 434 00:21:37,359 --> 00:21:42,200 Speaker 4: I was hardly a celebrity, was treated as a celebrity 435 00:21:42,240 --> 00:21:47,240 Speaker 4: with outrageous marital difficulties and anyway it was, it was terrible. 436 00:21:47,480 --> 00:21:51,240 Speaker 4: So I would like to say I am poised now, 437 00:21:51,560 --> 00:21:54,720 Speaker 4: but I am not poised. And I firstly, I really 438 00:21:54,720 --> 00:21:57,520 Speaker 4: can't imagine what is going to come my way, but 439 00:21:57,560 --> 00:21:58,120 Speaker 4: I would not. 440 00:21:58,119 --> 00:22:00,760 Speaker 3: Be surprised if it was some serious stuff. 441 00:22:01,280 --> 00:22:03,080 Speaker 1: So what do you think is the thing that's going 442 00:22:03,119 --> 00:22:04,960 Speaker 1: to make him the most enraged? 443 00:22:05,200 --> 00:22:08,280 Speaker 4: I mean, it's personal. This is about his family. I 444 00:22:08,280 --> 00:22:10,879 Speaker 4: mean this is about Fox too. It's not just about 445 00:22:10,880 --> 00:22:13,520 Speaker 4: his family. I mean it's about the personalities at Fox, 446 00:22:13,600 --> 00:22:16,600 Speaker 4: which has its own problems. I mean, there's the Foxes 447 00:22:16,760 --> 00:22:19,720 Speaker 4: has problems with the Murdoch families, but it has problems 448 00:22:19,800 --> 00:22:24,200 Speaker 4: with Donald Trump, who the Murdochs hate, but Fox's audience love. 449 00:22:24,600 --> 00:22:28,520 Speaker 4: It has problems with its various personalities. The whole Tucker 450 00:22:28,600 --> 00:22:32,320 Speaker 4: Carlson story is laid out here. I would safely say 451 00:22:32,320 --> 00:22:35,200 Speaker 4: that there's not one single thing that Rupert Murdoch is 452 00:22:35,240 --> 00:22:36,480 Speaker 4: going to like about this book. 453 00:22:37,480 --> 00:22:41,040 Speaker 1: Talk to me about Laura Ingram. There's some very interesting 454 00:22:41,040 --> 00:22:41,760 Speaker 1: stuff in here. 455 00:22:42,160 --> 00:22:45,639 Speaker 4: I think I kind of feel sorry for Laura. You know, 456 00:22:45,880 --> 00:22:49,840 Speaker 4: Fox is a very difficult place, to say the least 457 00:22:49,960 --> 00:22:52,960 Speaker 4: for a woman to work. I mean, it was particularly 458 00:22:52,960 --> 00:22:56,680 Speaker 4: difficult in the age of Roger Ayles, but it hasn't 459 00:22:56,800 --> 00:23:00,000 Speaker 4: gotten much better. I don't think that they necessarily jump 460 00:23:00,040 --> 00:23:04,280 Speaker 4: on you there anymore, but they certainly don't treat women 461 00:23:05,040 --> 00:23:09,200 Speaker 4: like they treat men. And I think Laura Ingraham has 462 00:23:09,359 --> 00:23:13,400 Speaker 4: been put in the very difficult, difficult position. And there's 463 00:23:13,440 --> 00:23:15,600 Speaker 4: a lot of reasons that she would want this job 464 00:23:15,640 --> 00:23:18,000 Speaker 4: and does want this job, but is. 465 00:23:17,960 --> 00:23:19,000 Speaker 3: Her heart in it? 466 00:23:19,160 --> 00:23:21,720 Speaker 4: And you know, that's one of the interesting things about 467 00:23:21,840 --> 00:23:25,280 Speaker 4: about Fox and why it has done so well, is 468 00:23:25,320 --> 00:23:27,960 Speaker 4: that its stars have their heart in it. They are 469 00:23:28,200 --> 00:23:32,919 Speaker 4: fully invested in being Fox people, in talking to the 470 00:23:32,960 --> 00:23:36,600 Speaker 4: Fox audience. And I think she's been a little resistant 471 00:23:36,640 --> 00:23:40,360 Speaker 4: to this, reticent about it, although she has tried curiously. 472 00:23:40,640 --> 00:23:44,280 Speaker 4: You know, she's one of Murdoch's favorites, and she's one 473 00:23:44,280 --> 00:23:48,960 Speaker 4: of his favorites because she's actually not a Trump Maga 474 00:23:49,720 --> 00:23:53,000 Speaker 4: right winger. She's kind of an old fashioned, a nineties 475 00:23:53,080 --> 00:23:54,880 Speaker 4: right winger, which Murdoch is. 476 00:23:55,160 --> 00:23:58,280 Speaker 1: But there's a lot about her drinking, which I think 477 00:23:58,359 --> 00:23:59,320 Speaker 1: is pretty interesting. 478 00:23:59,760 --> 00:24:00,000 Speaker 3: Yeah. 479 00:24:00,160 --> 00:24:03,360 Speaker 4: Well, and she's not the only drinker at Fox. It's 480 00:24:03,400 --> 00:24:06,840 Speaker 4: a big drinking place. The Murdoch family is a big 481 00:24:06,920 --> 00:24:10,800 Speaker 4: drinking family. But yeah, I mean, and there's a particular 482 00:24:10,960 --> 00:24:11,880 Speaker 4: scene in. 483 00:24:12,800 --> 00:24:15,879 Speaker 1: The scene with the plane. Will you talk about that. 484 00:24:16,480 --> 00:24:20,640 Speaker 4: I tell the story of a trip on Sean Hannity's 485 00:24:20,680 --> 00:24:25,760 Speaker 4: plane to Roger Ayles's funeral in the spring of twenty seventeen, 486 00:24:26,119 --> 00:24:29,399 Speaker 4: and Laura was, who was not working at Fox at 487 00:24:29,400 --> 00:24:32,119 Speaker 4: the time but wanted to work at Fox at the time, 488 00:24:32,240 --> 00:24:37,320 Speaker 4: was at the funeral and she got very, very drunk. 489 00:24:37,680 --> 00:24:40,000 Speaker 4: I mean, one of those kind of drunken scenes that 490 00:24:40,320 --> 00:24:44,720 Speaker 4: is a kind of television worthy drunken scene, the full 491 00:24:44,880 --> 00:24:51,480 Speaker 4: monty of drunkenness, and so much so that she tried 492 00:24:51,520 --> 00:24:56,359 Speaker 4: to get a ride with Hannity on his plane back 493 00:24:56,400 --> 00:24:59,120 Speaker 4: to New York. She wanted to be dropped off of Washington, 494 00:24:59,200 --> 00:25:02,040 Speaker 4: but Hannity wouldn't let her on the plane because he 495 00:25:02,119 --> 00:25:06,440 Speaker 4: said those planes are too small for someone who would 496 00:25:06,480 --> 00:25:09,919 Speaker 4: clearly end up in the bathroom vomiting the whole time. 497 00:25:11,440 --> 00:25:15,560 Speaker 1: That is not the only time she gets rejected. The 498 00:25:15,640 --> 00:25:19,320 Speaker 1: Murdoch suns found her retro not aspiring talk to me 499 00:25:19,320 --> 00:25:19,840 Speaker 1: about that. 500 00:25:20,240 --> 00:25:22,960 Speaker 4: When she was highed, that was a kind of tussle 501 00:25:23,119 --> 00:25:26,879 Speaker 4: between between father and sons about who would get to 502 00:25:26,960 --> 00:25:29,960 Speaker 4: make this higher and it was actually Rupert who finally. 503 00:25:29,600 --> 00:25:31,640 Speaker 3: Decided to make this attire. 504 00:25:31,720 --> 00:25:36,520 Speaker 4: And the sons were annoyed about this and regarded her 505 00:25:36,640 --> 00:25:41,520 Speaker 4: as kind of an old fashioned conservative who was in 506 00:25:41,560 --> 00:25:44,680 Speaker 4: an old fashioned you know, a person who sell by 507 00:25:44,840 --> 00:25:48,360 Speaker 4: date as a media personality had passed. 508 00:25:48,560 --> 00:25:51,480 Speaker 1: Right, but she has really hung on. I mean, what 509 00:25:51,520 --> 00:25:52,320 Speaker 1: do you think about that? 510 00:25:53,000 --> 00:25:56,000 Speaker 4: She was the only woman in the lineup, and she 511 00:25:56,160 --> 00:26:00,159 Speaker 4: was kind of convenient in the lineup between the two 512 00:26:00,200 --> 00:26:05,200 Speaker 4: big enchiladas of the primetime schedule who didn't want someone 513 00:26:05,240 --> 00:26:09,239 Speaker 4: else who might compete with them. So she was a 514 00:26:09,280 --> 00:26:14,760 Speaker 4: sort of convenient buffer for Tucker and for Hannity. But 515 00:26:15,040 --> 00:26:20,200 Speaker 4: now she has just been relegated out of official prime time. 516 00:26:20,680 --> 00:26:24,399 Speaker 1: There's so many personalities in this book, and there's so 517 00:26:24,880 --> 00:26:26,720 Speaker 1: much for Rubert Murdos. 518 00:26:26,600 --> 00:26:31,960 Speaker 4: Is just like when liberals such as I suppose ourselves 519 00:26:32,160 --> 00:26:36,040 Speaker 4: write about Fox, it's always written as the overriding point 520 00:26:36,240 --> 00:26:40,760 Speaker 4: is politics, And I've tried to make this the overwriting 521 00:26:40,840 --> 00:26:44,520 Speaker 4: point here. Television that it's really not you know, Fox 522 00:26:44,600 --> 00:26:47,480 Speaker 4: is not. Yes there's politics at Fox, and yes that's 523 00:26:47,560 --> 00:26:51,320 Speaker 4: the subtext, But the overt text is how do I 524 00:26:51,520 --> 00:26:54,880 Speaker 4: stay on the air? I am, you know, like all 525 00:26:54,960 --> 00:26:58,840 Speaker 4: television people. I mean, what do all television news people 526 00:26:58,960 --> 00:27:04,959 Speaker 4: have in common is desperate desire and need to stay 527 00:27:05,080 --> 00:27:08,399 Speaker 4: on the air. And it's I will do anything to 528 00:27:08,480 --> 00:27:12,200 Speaker 4: stay on the air. That's this motivation that I tried 529 00:27:12,240 --> 00:27:16,320 Speaker 4: to I try to convey that unique experience. 530 00:27:16,000 --> 00:27:19,560 Speaker 1: And it's really about the family, which is really interesting. 531 00:27:19,760 --> 00:27:21,520 Speaker 1: Before we talk about Tucker hals and we need to 532 00:27:21,520 --> 00:27:26,560 Speaker 1: talk about Arena Braganti. Please tell our listeners who she 533 00:27:26,880 --> 00:27:30,080 Speaker 1: is and sort of she is really one of the 534 00:27:30,119 --> 00:27:32,760 Speaker 1: most important figures in anything about Fox. 535 00:27:33,119 --> 00:27:34,360 Speaker 3: She's the pr person. 536 00:27:34,520 --> 00:27:37,359 Speaker 4: But what that means, you know, she comes out of 537 00:27:37,400 --> 00:27:42,160 Speaker 4: the Ales era, is that she is the enforcer. If 538 00:27:42,200 --> 00:27:45,040 Speaker 4: I get it by the Murdocks in any way, it 539 00:27:45,119 --> 00:27:48,239 Speaker 4: will come from her. She is the one who is 540 00:27:48,480 --> 00:27:52,800 Speaker 4: out there selling the Fox message to other media, but 541 00:27:53,119 --> 00:27:58,760 Speaker 4: she is punishing anyone who crosses who Fox feels has 542 00:27:58,880 --> 00:28:02,359 Speaker 4: crossed them. She's I mean, super good at her job. 543 00:28:02,640 --> 00:28:06,359 Speaker 4: One interesting aspect is that she often uses the New 544 00:28:06,480 --> 00:28:10,280 Speaker 4: York Times to do this, which seems counterintuitive since The 545 00:28:10,280 --> 00:28:13,639 Speaker 4: New York Times hates Fox so much, But since she 546 00:28:13,760 --> 00:28:18,800 Speaker 4: has often dissing people who are on Fox, then The 547 00:28:18,880 --> 00:28:23,359 Speaker 4: Times becomes a willing and convenient outlet. So I was, 548 00:28:23,680 --> 00:28:28,440 Speaker 4: for again reasons that are not necessarily clear or intuitive, 549 00:28:28,840 --> 00:28:33,320 Speaker 4: I was very friendly with Roger Ayles for many, many years. 550 00:28:33,560 --> 00:28:36,040 Speaker 4: I was friendly with him because he was a great source, 551 00:28:36,240 --> 00:28:40,000 Speaker 4: because he was a great gossip, because he had really 552 00:28:40,120 --> 00:28:44,240 Speaker 4: unique insights into the media business, which I was covering 553 00:28:44,280 --> 00:28:46,960 Speaker 4: for much of much of that time. On one occasion, 554 00:28:47,480 --> 00:28:49,480 Speaker 4: I can't remember what I was writing about, but I 555 00:28:50,160 --> 00:28:53,719 Speaker 4: didn't call him. I called the Fox PR people, and 556 00:28:53,800 --> 00:28:56,000 Speaker 4: he got wind of this, and he called me up 557 00:28:56,080 --> 00:28:59,160 Speaker 4: and he said, why wouldn't she call me? If you 558 00:28:59,200 --> 00:29:01,960 Speaker 4: want to know what happened, don't quote I reading. Her 559 00:29:02,080 --> 00:29:04,800 Speaker 4: job is not to tell you the truth. It's the 560 00:29:04,840 --> 00:29:08,240 Speaker 4: opposite her job. You want to know something, you call me. 561 00:29:08,640 --> 00:29:11,760 Speaker 1: It's amazing, So talk to me about the dominion case. 562 00:29:11,920 --> 00:29:14,920 Speaker 1: Because that was like a very sort of will there 563 00:29:15,000 --> 00:29:16,600 Speaker 1: won't they settle situation? 564 00:29:17,280 --> 00:29:20,080 Speaker 4: It always seemed that way. There was no possibility that 565 00:29:20,120 --> 00:29:22,520 Speaker 4: they were not going to settle this. You know, the 566 00:29:22,560 --> 00:29:25,560 Speaker 4: first rule of any media company in a libel or 567 00:29:25,680 --> 00:29:28,880 Speaker 4: defamation case is never go before a jury. You go 568 00:29:28,960 --> 00:29:32,120 Speaker 4: before a jury, you're going to loose. But they got 569 00:29:32,240 --> 00:29:36,000 Speaker 4: awfully close to going before a jury. I mean I 570 00:29:36,120 --> 00:29:38,800 Speaker 4: was actually sitting there. I was face to face with 571 00:29:38,880 --> 00:29:41,880 Speaker 4: that with that jury shortly after. 572 00:29:42,280 --> 00:29:44,720 Speaker 3: You know, and I believe it would have been right. 573 00:29:44,560 --> 00:29:48,120 Speaker 4: After the lunch break the jury was seated. There was 574 00:29:48,160 --> 00:29:51,240 Speaker 4: a lunch break, and then the lunch break was prolonged, 575 00:29:51,320 --> 00:29:55,400 Speaker 4: and then they settled because of that immutable rule that 576 00:29:55,560 --> 00:29:57,520 Speaker 4: was this, This was the line in the saying you 577 00:29:57,600 --> 00:30:01,560 Speaker 4: could not face the jury. And so the real story is, 578 00:30:01,680 --> 00:30:04,400 Speaker 4: how in hell did it get that close? Yeah, they 579 00:30:04,400 --> 00:30:07,440 Speaker 4: should have settled months and months and months and months 580 00:30:07,520 --> 00:30:11,000 Speaker 4: and months before. There was a moment. Would think it 581 00:30:11,040 --> 00:30:14,400 Speaker 4: would be about a year and a half before when 582 00:30:14,440 --> 00:30:17,800 Speaker 4: Murdoch was complaining that this could cost him fifty million 583 00:30:17,880 --> 00:30:21,600 Speaker 4: dollars in the end, and it cost him seven hundred 584 00:30:21,640 --> 00:30:26,320 Speaker 4: and eighty five eighty seven million dollars. That's the story. 585 00:30:26,400 --> 00:30:29,440 Speaker 4: Why did it take so long? And that's the indication 586 00:30:29,760 --> 00:30:33,400 Speaker 4: of the kind of disarray that was going on within 587 00:30:33,440 --> 00:30:34,400 Speaker 4: the organization. 588 00:30:34,880 --> 00:30:37,080 Speaker 1: So you think they just couldn't get it together in time. 589 00:30:37,480 --> 00:30:39,400 Speaker 4: Yes, I mean they couldn't get it together, and I 590 00:30:39,400 --> 00:30:43,080 Speaker 4: would say it was There was and continues to be 591 00:30:43,520 --> 00:30:47,400 Speaker 4: only one real decision maker, and that's Murdoch and he 592 00:30:47,480 --> 00:30:50,840 Speaker 4: is ninety two, So getting him to make decisions, I 593 00:30:50,880 --> 00:30:54,200 Speaker 4: think is very difficult. I think getting him to focus 594 00:30:54,320 --> 00:30:59,200 Speaker 4: becomes more and more difficult. I think that he processed 595 00:30:59,240 --> 00:31:04,920 Speaker 4: this whole as being not Fox's fault, but Donald Trump's fault, 596 00:31:05,080 --> 00:31:10,280 Speaker 4: and in some way this became about Donald Trump paying 597 00:31:10,400 --> 00:31:14,440 Speaker 4: for this, and somehow it became about his grievance against 598 00:31:14,480 --> 00:31:17,960 Speaker 4: Donald Trump instead of focusing on the fact that this 599 00:31:18,200 --> 00:31:20,680 Speaker 4: lawsuit was directed at him. 600 00:31:21,040 --> 00:31:22,560 Speaker 3: In fact, the. 601 00:31:22,520 --> 00:31:26,280 Speaker 1: Tucker Cross and Fox fight continues. 602 00:31:27,000 --> 00:31:31,400 Speaker 4: I thought it's probably an indication of an even broader 603 00:31:31,880 --> 00:31:37,000 Speaker 4: fight that's happening, and that's going to happen in conservative media. 604 00:31:37,640 --> 00:31:40,760 Speaker 4: For a long time, Fox has been at a monopoly 605 00:31:40,840 --> 00:31:45,160 Speaker 4: position in conservative media. There was only one outlet, and 606 00:31:45,280 --> 00:31:49,320 Speaker 4: it was dominant to a dramatic extreme. And I think 607 00:31:49,440 --> 00:31:52,280 Speaker 4: now we see more and more that there are other 608 00:31:52,480 --> 00:31:57,160 Speaker 4: possibilities here and that conservative media will fragment and this 609 00:31:57,240 --> 00:31:59,960 Speaker 4: shouldn't be a surprise in the same way that liberal 610 00:32:00,120 --> 00:32:01,320 Speaker 4: media has spregnant. 611 00:32:01,880 --> 00:32:04,840 Speaker 1: So interesting. Thank you so much, Michael. 612 00:32:04,760 --> 00:32:05,320 Speaker 3: And thank you. 613 00:32:08,120 --> 00:32:12,320 Speaker 1: Ben Tulchen is a pollster and the founder of Toulchien Research. 614 00:32:12,520 --> 00:32:14,680 Speaker 1: Welcome to you fast politics. 615 00:32:14,120 --> 00:32:15,719 Speaker 5: Ben, thank you for having me. 616 00:32:15,960 --> 00:32:19,760 Speaker 1: I'm going to let you introduce yourself to us. Tell 617 00:32:19,800 --> 00:32:21,600 Speaker 1: me about what you do. 618 00:32:22,160 --> 00:32:26,600 Speaker 6: Sure, I'm a political poster for Democrats, helping get them elected. 619 00:32:26,640 --> 00:32:31,000 Speaker 6: Also do bout measures, work for isshie clients, nonprofit organizations, 620 00:32:31,080 --> 00:32:34,960 Speaker 6: labor unions and those kinds of clients. Best known for 621 00:32:35,040 --> 00:32:37,960 Speaker 6: poland for Bernie Sanders presidential kpaign in twenty sixteen and 622 00:32:38,000 --> 00:32:40,880 Speaker 6: twenty twenty also elected the Mayor of New York City, 623 00:32:40,960 --> 00:32:43,880 Speaker 6: Eric Adams, which I was named Polster of the Year recently. 624 00:32:44,040 --> 00:32:46,840 Speaker 6: So I work for lots of clients around the country 625 00:32:46,880 --> 00:32:48,960 Speaker 6: as well, but those are kind of my claim to fame. 626 00:32:49,200 --> 00:32:52,200 Speaker 1: So you're a Democratic pollster, but you have candidates that 627 00:32:52,360 --> 00:32:55,680 Speaker 1: are sometimes not in the Democratic mainstream. 628 00:32:55,800 --> 00:32:58,080 Speaker 6: As a consultant, we I work for cancer. I like 629 00:32:58,200 --> 00:33:00,680 Speaker 6: shout out what I work for. I tend to be 630 00:33:01,000 --> 00:33:02,800 Speaker 6: kind of a broad ideological mix. 631 00:33:02,920 --> 00:33:06,000 Speaker 1: Yes, let's talk about what the nuts and bolts of 632 00:33:06,120 --> 00:33:07,920 Speaker 1: pulstering looks like for you. 633 00:33:08,480 --> 00:33:10,640 Speaker 6: Yeah, sure, I mean one, we have to get hired 634 00:33:10,680 --> 00:33:13,360 Speaker 6: by a cant right and we have to get paid. 635 00:33:13,440 --> 00:33:16,400 Speaker 3: But in all seriousness, doesn't how always happen. 636 00:33:16,480 --> 00:33:20,080 Speaker 6: But the industry self polling has gone under a lot 637 00:33:20,080 --> 00:33:23,080 Speaker 6: of changes and transformations the last several years. I mean 638 00:33:23,680 --> 00:33:26,240 Speaker 6: a lot's been discussed about. There are fewer people willing 639 00:33:26,240 --> 00:33:29,320 Speaker 6: to respond to surveys. We used to call landlines. Those 640 00:33:29,360 --> 00:33:31,880 Speaker 6: don't really exist anymore. So now we have to find 641 00:33:31,920 --> 00:33:35,800 Speaker 6: other ways to reach people through cell phones, texting, calling, 642 00:33:35,880 --> 00:33:38,760 Speaker 6: cell phones, email, you name it. So the industry has 643 00:33:38,800 --> 00:33:40,840 Speaker 6: changed a lot. It's gotten harder to do what I do. 644 00:33:40,920 --> 00:33:43,760 Speaker 6: But my value adds a pulster and a strategist, and 645 00:33:43,840 --> 00:33:46,760 Speaker 6: I really pride myself for being a strategist. I don't 646 00:33:46,760 --> 00:33:49,880 Speaker 6: just deliver poll numbers. I provide strategy and that's kind 647 00:33:49,880 --> 00:33:52,120 Speaker 6: of my value ad. And you know, I've been instrumental 648 00:33:52,160 --> 00:33:56,320 Speaker 6: and you know, taking Berry Sanders from zero to percent 649 00:33:56,440 --> 00:33:59,240 Speaker 6: to the brink of the nomination. I was instrumental electing 650 00:33:59,240 --> 00:34:04,040 Speaker 6: Aericam's mayor. And you're sitting a very difficult, diverse, multi 651 00:34:04,080 --> 00:34:06,760 Speaker 6: candet field with ring choice voting scenarios. 652 00:34:06,360 --> 00:34:08,879 Speaker 5: So my job is. 653 00:34:08,840 --> 00:34:11,120 Speaker 6: To not just tell you what the numbers are, but 654 00:34:11,320 --> 00:34:13,080 Speaker 6: like figure out a strategy how to win. 655 00:34:13,320 --> 00:34:15,600 Speaker 1: But you also do focus groups. 656 00:34:15,840 --> 00:34:18,000 Speaker 5: We do, Yes, we do, and. 657 00:34:18,280 --> 00:34:22,080 Speaker 1: Lately you've been doing focus groups. Tell us what you've 658 00:34:22,120 --> 00:34:24,520 Speaker 1: been sort of working on and the stuff that you 659 00:34:25,320 --> 00:34:29,600 Speaker 1: have been talking to my friend Ron Brownstein about. 660 00:34:29,800 --> 00:34:32,040 Speaker 6: Look, I mean, as we kind of heading into a 661 00:34:32,080 --> 00:34:35,279 Speaker 6: presidential election year and having worked for Bernie, and I've 662 00:34:35,320 --> 00:34:38,920 Speaker 6: seen kind of a clear pattern of merge where Democright 663 00:34:39,040 --> 00:34:43,319 Speaker 6: Party has struggled with working class voters right, and they've 664 00:34:43,360 --> 00:34:46,680 Speaker 6: struggled in delivering an economic message, and that was clear. 665 00:34:46,719 --> 00:34:49,600 Speaker 6: What the driver of success for Bernie's campaign in both 666 00:34:49,640 --> 00:34:53,880 Speaker 6: twenty sixteen and twenty twenty was he had a very clear, powerful, progressive, 667 00:34:54,120 --> 00:34:57,480 Speaker 6: economic populist message. And I feel that Direct Party is 668 00:34:57,520 --> 00:35:00,200 Speaker 6: kind of hasn't learned the lessons from that. Whi he 669 00:35:00,239 --> 00:35:02,600 Speaker 6: was successful, Many people in the party view him as 670 00:35:02,600 --> 00:35:06,160 Speaker 6: his kind of left wing crazy guy, and the fact 671 00:35:06,280 --> 00:35:09,640 Speaker 6: is that he actually had a very clear coping here 672 00:35:09,680 --> 00:35:13,520 Speaker 6: an economic message that resonated very powerfully with young people 673 00:35:13,600 --> 00:35:17,239 Speaker 6: and Latinos in particular, and that drove a success. And 674 00:35:17,600 --> 00:35:20,680 Speaker 6: those are two groups quite frankly, that Biden struggled with 675 00:35:20,719 --> 00:35:23,480 Speaker 6: in twenty twenty that Bernie did much better than Biden 676 00:35:23,520 --> 00:35:26,080 Speaker 6: within those two groups, and it didn't start off that way. 677 00:35:26,120 --> 00:35:28,200 Speaker 6: With Latinos in particular, we were tied with Biden the 678 00:35:28,239 --> 00:35:30,600 Speaker 6: begining of the campaign, and over the course of the campaign, 679 00:35:30,719 --> 00:35:35,240 Speaker 6: through a very discipline focused economic message, we gained separation 680 00:35:35,320 --> 00:35:38,080 Speaker 6: for Biden and ultimately ran circles around him. And that's 681 00:35:38,080 --> 00:35:40,600 Speaker 6: We're able to win Nevado at California and do quite 682 00:35:40,640 --> 00:35:43,680 Speaker 6: well with Latinos. So I'm seeing that. And then I 683 00:35:43,760 --> 00:35:46,840 Speaker 6: did a really fascinating project of left leaning gun owners. 684 00:35:47,000 --> 00:35:48,759 Speaker 1: I want to get to that, but first I want 685 00:35:48,800 --> 00:35:53,759 Speaker 1: to talk to you about Latino voters, because that is 686 00:35:54,040 --> 00:35:59,399 Speaker 1: the two really the weak spots for Democratic reelection are 687 00:36:00,120 --> 00:36:05,120 Speaker 1: the young voters and the Latino voters, right, especially Latino men, 688 00:36:05,760 --> 00:36:09,719 Speaker 1: male voters. Right. That is a number that Biden is 689 00:36:09,840 --> 00:36:14,000 Speaker 1: losing and that the Republicans are picking up for whatever reason. 690 00:36:14,320 --> 00:36:17,000 Speaker 1: For the people who are staunchly anti Bernie who are 691 00:36:17,040 --> 00:36:19,000 Speaker 1: listening to this podcast, and I know there are some 692 00:36:19,080 --> 00:36:23,200 Speaker 1: of you, Bernie has already endorsed Biden, so that is done, right. 693 00:36:23,560 --> 00:36:27,120 Speaker 1: He's not going to primary him, period paragraph But Bernie 694 00:36:27,200 --> 00:36:30,719 Speaker 1: had a bunch of really exciting progressive ideas, like the 695 00:36:30,800 --> 00:36:35,960 Speaker 1: climate Core and that now Biden has just implemented, right, 696 00:36:36,040 --> 00:36:40,640 Speaker 1: He's implemented two of Bernie's key kind of things. I mean, 697 00:36:40,800 --> 00:36:44,480 Speaker 1: do you think that there is a way for do 698 00:36:44,520 --> 00:36:48,200 Speaker 1: you think that more successful messaging of that will help? 699 00:36:48,239 --> 00:36:50,640 Speaker 1: And do you think that Biden did these things because 700 00:36:50,680 --> 00:36:52,320 Speaker 1: he knows he needs those voters? 701 00:36:52,600 --> 00:36:52,759 Speaker 2: Yeah? 702 00:36:52,800 --> 00:36:55,319 Speaker 6: I look, I mean I know that Biden if you 703 00:36:55,320 --> 00:36:58,520 Speaker 6: look at the polling, right or he's lot Biden's locked 704 00:36:58,560 --> 00:37:01,200 Speaker 6: into a very close rate with Trump, who's the likely 705 00:37:01,239 --> 00:37:05,120 Speaker 6: Republican nominee. What I've been observing is having gone through 706 00:37:05,120 --> 00:37:06,840 Speaker 6: the twenty twenty campaign to do a lot of polling 707 00:37:06,840 --> 00:37:09,000 Speaker 6: and watching you know, Burry do very well with young 708 00:37:09,000 --> 00:37:12,080 Speaker 6: people and Latinos and Biden struggle with them. They eventually 709 00:37:12,160 --> 00:37:14,719 Speaker 6: rallied to Biden in the general election, but then three 710 00:37:14,760 --> 00:37:18,359 Speaker 6: months into Biden's presidency they kind of left it right 711 00:37:18,400 --> 00:37:20,560 Speaker 6: and just and a lot of move to kind of 712 00:37:20,640 --> 00:37:24,440 Speaker 6: unsure undecided. But they weren't sold on Biden at the beginning. 713 00:37:24,719 --> 00:37:26,480 Speaker 6: They warmed up to him and when it was a 714 00:37:26,520 --> 00:37:30,640 Speaker 6: comparative a choice between Trump and Biden, but then they 715 00:37:30,719 --> 00:37:32,880 Speaker 6: didn't show a lot of loyalty, and then having stuck 716 00:37:32,920 --> 00:37:36,120 Speaker 6: with them now in looking at recent polling versus Biden 717 00:37:36,200 --> 00:37:39,560 Speaker 6: versus Trump, example, Latinos and exit polling. In twenty twenty, 718 00:37:39,640 --> 00:37:43,399 Speaker 6: Biden won Latinos by thirty three points sixty five to 719 00:37:43,440 --> 00:37:47,800 Speaker 6: thirty two, and recent polling against Trump, Biden is only 720 00:37:48,120 --> 00:37:52,040 Speaker 6: winning among Latinos by seven points forty five thirty eight 721 00:37:52,080 --> 00:37:52,520 Speaker 6: with a lot. 722 00:37:52,440 --> 00:37:56,600 Speaker 5: Of others, so there's a net twenty six point drop off. 723 00:37:56,960 --> 00:38:00,600 Speaker 6: Young voters show a very similar pattern where Biden won 724 00:38:00,640 --> 00:38:02,840 Speaker 6: them by twenty four points sixty to thirty six and 725 00:38:02,880 --> 00:38:06,120 Speaker 6: twenty twenty Corten exit polling and now he's only up three, 726 00:38:06,239 --> 00:38:08,840 Speaker 6: so it's a dramatic chip. Now my view is this 727 00:38:08,880 --> 00:38:11,279 Speaker 6: should be low hanging fruit for the Biden campaign. So 728 00:38:11,360 --> 00:38:15,200 Speaker 6: to your point is he's focusing on them, embracing policies, 729 00:38:15,239 --> 00:38:19,200 Speaker 6: advocating policies that young people support, that Latin they should 730 00:38:19,200 --> 00:38:22,120 Speaker 6: be appealing to Latinos. But he's always struggled with these 731 00:38:22,120 --> 00:38:23,759 Speaker 6: two groups, so it's going to take a lot of 732 00:38:23,800 --> 00:38:24,520 Speaker 6: work for him. 733 00:38:24,400 --> 00:38:25,040 Speaker 2: To win them over. 734 00:38:25,160 --> 00:38:28,320 Speaker 1: In my view, talk to me about gun owners, who 735 00:38:28,360 --> 00:38:29,760 Speaker 1: exactly is in this group? 736 00:38:30,160 --> 00:38:33,680 Speaker 6: So these are you know, left leaning gun owners, right, 737 00:38:33,760 --> 00:38:37,240 Speaker 6: So if you think about where Trump has made inros 738 00:38:37,239 --> 00:38:40,839 Speaker 6: with working class voters and Biden and Democrats expense. It's 739 00:38:40,880 --> 00:38:44,320 Speaker 6: been you know, versus Hillary and versus Biden. African American 740 00:38:44,360 --> 00:38:47,799 Speaker 6: men and Latino men. Right, So there's the two subsets 741 00:38:48,239 --> 00:38:52,560 Speaker 6: that Trump has made some inroads with. And they're disproportionately 742 00:38:52,560 --> 00:38:57,160 Speaker 6: working class, and they're disproportionally gun owners. So I've been 743 00:38:57,200 --> 00:39:00,880 Speaker 6: working with a coalition trying to organize and connect with 744 00:39:01,320 --> 00:39:05,040 Speaker 6: left leaning gun owners. After every mass shooting, right, there's 745 00:39:05,160 --> 00:39:09,879 Speaker 6: obviously rush for advocating for tougher gun safety laws, and 746 00:39:10,080 --> 00:39:13,879 Speaker 6: the challenge of left leaning gun owners is then they feel. 747 00:39:13,640 --> 00:39:15,680 Speaker 5: Kind of, oh, do I belong in this party? 748 00:39:15,760 --> 00:39:15,880 Speaker 2: Right? 749 00:39:15,920 --> 00:39:18,440 Speaker 6: So this effort is to kind of make them feel 750 00:39:18,760 --> 00:39:20,399 Speaker 6: welcome voting. 751 00:39:20,120 --> 00:39:22,280 Speaker 5: For progressive candidates and causes. 752 00:39:22,360 --> 00:39:22,600 Speaker 2: Right. 753 00:39:23,160 --> 00:39:25,160 Speaker 6: You know we found is that they own God, these 754 00:39:25,160 --> 00:39:27,520 Speaker 6: folks own guns. They like owning guns. They're proud to 755 00:39:27,520 --> 00:39:30,000 Speaker 6: be gun owners, right, So, which is not a typical 756 00:39:30,400 --> 00:39:34,480 Speaker 6: profile of today's in today's Democratic Party, which has become 757 00:39:34,560 --> 00:39:37,640 Speaker 6: more white collar professional, right. So, you know, they're just 758 00:39:37,719 --> 00:39:40,920 Speaker 6: purtily working class and many of them are struggling financially 759 00:39:40,960 --> 00:39:44,560 Speaker 6: and they're really worried about the economy, and we're more 760 00:39:44,600 --> 00:39:47,480 Speaker 6: inclined to vote for Biden over Trump, but you don't 761 00:39:47,480 --> 00:39:50,720 Speaker 6: have concerns, especially on economic issues. 762 00:39:51,000 --> 00:39:54,799 Speaker 1: So this is the group that is being affected by 763 00:39:54,920 --> 00:39:56,640 Speaker 1: inflation the most. 764 00:39:57,080 --> 00:40:00,759 Speaker 6: Yeah, our experience if you look at kind of acroeconomics 765 00:40:00,760 --> 00:40:03,840 Speaker 6: microaps and our research, I mean young people in Latinos. 766 00:40:04,280 --> 00:40:06,520 Speaker 6: These are the two groups that you know Biden is 767 00:40:06,520 --> 00:40:09,640 Speaker 6: struggling with the most now compared to where how he 768 00:40:09,680 --> 00:40:14,560 Speaker 6: did in twenty twenty. They have been deeply impacted by inflation. Right, 769 00:40:14,560 --> 00:40:16,960 Speaker 6: You're a young person, and people tend to make less 770 00:40:17,000 --> 00:40:19,480 Speaker 6: money they're earlier in their careers. And so if you're 771 00:40:19,520 --> 00:40:22,279 Speaker 6: a young person and the groceries st have gone up, 772 00:40:22,320 --> 00:40:25,719 Speaker 6: and costs and price of gas has gone up, in 773 00:40:25,800 --> 00:40:28,640 Speaker 6: rent has gone up, you feel that a lot and 774 00:40:29,360 --> 00:40:32,160 Speaker 6: young people don't have any sort of historical perspective, right, 775 00:40:32,239 --> 00:40:33,520 Speaker 6: they have been through inflation. 776 00:40:33,600 --> 00:40:34,279 Speaker 5: This is new to them. 777 00:40:34,360 --> 00:40:37,520 Speaker 6: Inflation is the first time they're really experiencing inflation. And 778 00:40:37,600 --> 00:40:39,640 Speaker 6: they just know that A things cost more and b 779 00:40:39,800 --> 00:40:42,680 Speaker 6: that Joe Biden is present. Right, And so while they 780 00:40:42,680 --> 00:40:46,040 Speaker 6: are left leaning politically and voted for Biden in big 781 00:40:46,120 --> 00:40:48,359 Speaker 6: numbers in twenty twenty, you know a lot of them 782 00:40:48,440 --> 00:40:50,759 Speaker 6: moved to the on side of column. Right, now in 783 00:40:50,800 --> 00:40:53,520 Speaker 6: a matchup between Biden and Trump, and they'll say, well, 784 00:40:53,840 --> 00:40:55,720 Speaker 6: five years ago we didn't have inflation. 785 00:40:55,760 --> 00:40:56,680 Speaker 5: Today we have inflation. 786 00:40:56,920 --> 00:41:00,000 Speaker 6: So the Bien folks and del grag Parry has to 787 00:41:00,040 --> 00:41:02,600 Speaker 6: vote to young people and compel them to vote for 788 00:41:02,640 --> 00:41:05,800 Speaker 6: Biden and tell them a convincing economic message and b 789 00:41:06,160 --> 00:41:08,440 Speaker 6: why Donald Trump is really really bad or not that 790 00:41:08,480 --> 00:41:11,160 Speaker 6: they don't know that, but you just have to an election. 791 00:41:11,239 --> 00:41:13,880 Speaker 6: It's a binary choice between two people. You got to 792 00:41:13,920 --> 00:41:16,160 Speaker 6: remind them why they hate Donald Trump, so they vote 793 00:41:16,160 --> 00:41:16,560 Speaker 6: for Joe. 794 00:41:16,480 --> 00:41:21,760 Speaker 1: Biden, right exactly? With student debt, are they mad about 795 00:41:21,760 --> 00:41:24,960 Speaker 1: the student debt situation? And if so, who do they blame? 796 00:41:25,239 --> 00:41:27,920 Speaker 6: They're frustrated for sure, because it has real impact. I mean, 797 00:41:27,920 --> 00:41:31,400 Speaker 6: if you want student debt payments. 798 00:41:31,120 --> 00:41:34,239 Speaker 1: And interest rates just went ah, yes, So. 799 00:41:34,360 --> 00:41:35,040 Speaker 3: It's it's real. 800 00:41:35,120 --> 00:41:37,680 Speaker 6: It's a real pocketbook issue, and it's impact in a 801 00:41:37,719 --> 00:41:38,160 Speaker 6: real way. 802 00:41:38,560 --> 00:41:40,520 Speaker 3: I mean, I think from pulling. 803 00:41:40,320 --> 00:41:43,560 Speaker 6: We've done and others done. They largely blame the Supreme 804 00:41:43,560 --> 00:41:47,439 Speaker 6: Court and MAGA and call tunes. But Biden's present, right, 805 00:41:47,560 --> 00:41:50,120 Speaker 6: so and he got it done, but they didn't get done. 806 00:41:50,480 --> 00:41:52,640 Speaker 6: So that's the story that Biden's going to have to 807 00:41:52,719 --> 00:41:56,840 Speaker 6: tell is explain point direct their anger at Donald Trump's 808 00:41:56,880 --> 00:41:59,480 Speaker 6: Supreme Courts right, and say, look, this is the reason 809 00:41:59,520 --> 00:42:03,640 Speaker 6: why you're student loans paying forgiveness got thrown out, and 810 00:42:03,680 --> 00:42:05,200 Speaker 6: I'm the one who stood up for you. So the 811 00:42:05,320 --> 00:42:08,319 Speaker 6: challenge Biden has is he has to make the argument right, 812 00:42:08,360 --> 00:42:11,319 Speaker 6: He has to make the case to them about why 813 00:42:11,360 --> 00:42:14,560 Speaker 6: Donald Trump's bad for them, and Joe Biden stands up 814 00:42:14,600 --> 00:42:15,280 Speaker 6: for their interests. 815 00:42:15,680 --> 00:42:19,520 Speaker 1: So I think one of the most interesting and useful 816 00:42:19,800 --> 00:42:22,920 Speaker 1: things that I have been hearing about is that this 817 00:42:23,280 --> 00:42:27,359 Speaker 1: polling is really sort of directional. Right, this is what 818 00:42:27,440 --> 00:42:30,560 Speaker 1: Biden needs to do over the next four hundred plus 819 00:42:30,640 --> 00:42:34,160 Speaker 1: days in order to win. Right, talk to us about 820 00:42:34,560 --> 00:42:38,400 Speaker 1: the sort of like how Biden should take these polls. 821 00:42:38,640 --> 00:42:42,360 Speaker 6: Yeah, I mean he's got to make a concerted effort 822 00:42:42,800 --> 00:42:47,799 Speaker 6: at targeting these groups in a way that's meaningful, authentic, 823 00:42:48,200 --> 00:42:51,000 Speaker 6: and constantly right. I mean, the you know, younger rooters 824 00:42:51,040 --> 00:42:53,200 Speaker 6: and Latinos and they lean left, they voted for him 825 00:42:53,200 --> 00:42:55,759 Speaker 6: in twenty twenty, and he's got to woo them and 826 00:42:55,840 --> 00:42:57,680 Speaker 6: win the back. And I think, look, I think it's 827 00:42:57,680 --> 00:42:59,600 Speaker 6: a multi step process. I mean, he's got to lay 828 00:42:59,600 --> 00:43:03,279 Speaker 6: out a pot positive messages story to tell which look 829 00:43:03,280 --> 00:43:07,319 Speaker 6: at people have their own personal economic experience. You know, 830 00:43:07,400 --> 00:43:10,239 Speaker 6: the positive messaging about what he's done the economy is 831 00:43:10,280 --> 00:43:12,080 Speaker 6: going to have a limited impact, but he still has 832 00:43:12,120 --> 00:43:16,359 Speaker 6: to tell that story, especially on student loan debt forgiveness. Right, 833 00:43:16,640 --> 00:43:19,160 Speaker 6: But then he's got to go destroy Donald Trump and 834 00:43:19,239 --> 00:43:22,000 Speaker 6: just just savage Donald Trump. And he's starting to do 835 00:43:22,080 --> 00:43:24,759 Speaker 6: that more. But that's one big critique I've had of 836 00:43:24,840 --> 00:43:28,640 Speaker 6: the of the Biden administration is he wouldn't even mention 837 00:43:28,920 --> 00:43:32,239 Speaker 6: Donald Trump's name for the first two years. And look, 838 00:43:32,320 --> 00:43:35,960 Speaker 6: I mean, every good narrative, every good story has a feeling, right, 839 00:43:35,960 --> 00:43:38,960 Speaker 6: I mean, Star Wars is nothing without Darth Vader, right, 840 00:43:39,080 --> 00:43:43,200 Speaker 6: And their refusal to kind of engage Trump and Maga 841 00:43:43,520 --> 00:43:46,400 Speaker 6: Republicans consistently. I mean they've started doing it now, but 842 00:43:46,440 --> 00:43:49,720 Speaker 6: for two years, they wouldn't even mention the other side, 843 00:43:50,000 --> 00:43:52,760 Speaker 6: including Trump. And I just feel like the reason Biden 844 00:43:52,800 --> 00:43:55,799 Speaker 6: got elected was if you look at exit polling, most 845 00:43:55,840 --> 00:43:58,239 Speaker 6: people said it was a vote against Donald Trump, not 846 00:43:58,320 --> 00:43:59,760 Speaker 6: a vote for Joe Biden. 847 00:44:00,280 --> 00:44:01,920 Speaker 5: And maybe the Biden folks. 848 00:44:01,680 --> 00:44:05,480 Speaker 6: Thought that, well, he can become president, be this inspirational figure, 849 00:44:06,080 --> 00:44:06,719 Speaker 6: and he didn't. 850 00:44:06,760 --> 00:44:08,040 Speaker 5: He's done amazing job and policy. 851 00:44:08,120 --> 00:44:10,960 Speaker 6: Accomplished a lot on a policy front, but I feel 852 00:44:10,960 --> 00:44:14,680 Speaker 6: like he's always stronger when he's put it against somebody else, Right, Well, 853 00:44:14,760 --> 00:44:18,799 Speaker 6: that's Vanders or Donald Trump or whomever. Biden does better 854 00:44:18,840 --> 00:44:21,440 Speaker 6: when he is up against somebody else other than himself. 855 00:44:21,800 --> 00:44:24,520 Speaker 6: And I just think that making the next year about 856 00:44:24,960 --> 00:44:27,960 Speaker 6: why Donald Trump's a horrible person president and why he's 857 00:44:27,960 --> 00:44:30,560 Speaker 6: bad for these voters in particular, and how Biden has 858 00:44:30,680 --> 00:44:32,560 Speaker 6: made an effort to do good by them. 859 00:44:32,920 --> 00:44:37,840 Speaker 1: Right, I'm thinking about sort of this idea of populism, 860 00:44:38,239 --> 00:44:44,000 Speaker 1: really like successful economic populism. One of the reasons why, 861 00:44:44,200 --> 00:44:47,240 Speaker 1: and again I don't want to relitigate because Bernie endorsed 862 00:44:47,239 --> 00:44:50,560 Speaker 1: Biden and AOC endorsed Biden. But I want to say 863 00:44:50,560 --> 00:44:53,239 Speaker 1: something about Biden which is really about Bernie, which is 864 00:44:53,280 --> 00:44:58,920 Speaker 1: a Bernie had this incredibly good economic populist message that 865 00:44:59,280 --> 00:45:03,480 Speaker 1: was very compelling. It was Democrats speaking to working class 866 00:45:03,560 --> 00:45:06,560 Speaker 1: voters in a way that Hillary could not. Because clearly, 867 00:45:07,000 --> 00:45:10,400 Speaker 1: if you look at Biden's legislation, he has been an 868 00:45:10,480 --> 00:45:14,759 Speaker 1: economic populist. Right, He's done tariffs, he's pro union, he's 869 00:45:14,840 --> 00:45:19,279 Speaker 1: doing the kind of economic populism that you know Americans 870 00:45:19,320 --> 00:45:22,960 Speaker 1: desperately need How could he sort of steal that playbook 871 00:45:22,960 --> 00:45:24,040 Speaker 1: from Bernie a little bit? 872 00:45:24,280 --> 00:45:26,440 Speaker 3: Well, I mean the ironies he has, right, I mean 873 00:45:26,440 --> 00:45:27,120 Speaker 3: that's the thing is. 874 00:45:27,320 --> 00:45:30,440 Speaker 1: Right, the legislation, but the advertising. 875 00:45:29,800 --> 00:45:31,840 Speaker 6: It, I mean, that's the iron is why Bernie endorsed 876 00:45:31,880 --> 00:45:35,680 Speaker 6: him early, right, because he's Bernie feels like Biden's done 877 00:45:35,719 --> 00:45:38,520 Speaker 6: a great job on the policy front, and you know, 878 00:45:38,560 --> 00:45:42,200 Speaker 6: so Bernie's behind him. It's tough because Biden is who 879 00:45:42,200 --> 00:45:43,960 Speaker 6: he is, and he got elected president for being who 880 00:45:43,960 --> 00:45:47,640 Speaker 6: he is, right, which is kind of a steady hand 881 00:45:47,840 --> 00:45:51,279 Speaker 6: in stormy weather, right, and so you know, it can't 882 00:45:51,320 --> 00:45:54,759 Speaker 6: really embrace his inner Bernie and be Bernie. So I look, 883 00:45:54,800 --> 00:45:59,400 Speaker 6: I do think though, that advertising matters, right, telling story 884 00:45:59,480 --> 00:46:02,840 Speaker 6: over paid communication, whether digital TV ads matters, And it 885 00:46:02,880 --> 00:46:05,360 Speaker 6: takes time. I mean, if you look at you know, 886 00:46:05,680 --> 00:46:09,000 Speaker 6: the presidential primary toy toy, I mean, we Bernie has 887 00:46:09,000 --> 00:46:11,399 Speaker 6: a very compelling economic message, but look at our TV ads. 888 00:46:11,480 --> 00:46:14,640 Speaker 6: I mean we really focused on economic messages in the 889 00:46:14,640 --> 00:46:16,960 Speaker 6: primary and that's where we will to win the first 890 00:46:17,000 --> 00:46:20,680 Speaker 6: three states so resoundingly. And if you look at Biden campaign, 891 00:46:20,840 --> 00:46:24,040 Speaker 6: they had limited resources and they were very biocentric about 892 00:46:24,200 --> 00:46:26,759 Speaker 6: you know, Biden's story, and they were kind of light 893 00:46:26,800 --> 00:46:28,880 Speaker 6: on economics, and I think that's one of the reason we 894 00:46:28,880 --> 00:46:31,440 Speaker 6: were so successful at the being in that. But look, 895 00:46:31,480 --> 00:46:33,640 Speaker 6: I think they're starting to talk about the economy that 896 00:46:33,680 --> 00:46:36,319 Speaker 6: can't Biden and this team are. And again, it's going 897 00:46:36,360 --> 00:46:38,600 Speaker 6: to have a as the incumbent if people aren't feeling 898 00:46:38,600 --> 00:46:41,360 Speaker 6: great about the economy. If you're saying how great the 899 00:46:41,400 --> 00:46:43,799 Speaker 6: economy is, is going to meet some resistance. But he's 900 00:46:43,800 --> 00:46:46,560 Speaker 6: going to highlight his accomplishments, highlight all the jobs he's 901 00:46:46,560 --> 00:46:50,640 Speaker 6: creating with manufacturing, Infrastructure Bill and the Chips Bill, and 902 00:46:50,719 --> 00:46:55,239 Speaker 6: tell us compelling story and contrast that with Trump's you know, 903 00:46:55,280 --> 00:46:57,360 Speaker 6: economic RECERD, which is basically a big tach cut for 904 00:46:57,400 --> 00:47:00,759 Speaker 6: big corporations. So that's how he's going to be come populous. Look, 905 00:47:00,760 --> 00:47:04,120 Speaker 6: I mean Barack Obama wasn't a populist, sounded like a 906 00:47:04,120 --> 00:47:06,360 Speaker 6: populist when he ran for re election at twenty twelve 907 00:47:06,440 --> 00:47:09,640 Speaker 6: because we're against Mitt Romney was a plutocrat and it 908 00:47:09,680 --> 00:47:12,040 Speaker 6: was the effective strategy. So I think the Biden folks 909 00:47:12,320 --> 00:47:14,680 Speaker 6: and Biden will are coming around to that. But but 910 00:47:14,680 --> 00:47:17,200 Speaker 6: also Biden, look, he can't he's Scranton Joe. I mean, 911 00:47:17,239 --> 00:47:19,480 Speaker 6: he does have these working class roots, so he does 912 00:47:19,520 --> 00:47:22,359 Speaker 6: have the ability to connect with working class people, and 913 00:47:22,400 --> 00:47:24,680 Speaker 6: he just has to channel that as best. 914 00:47:24,760 --> 00:47:26,080 Speaker 5: He can't in his own voice. 915 00:47:26,120 --> 00:47:26,680 Speaker 3: That's the other thing. 916 00:47:26,680 --> 00:47:28,680 Speaker 6: He can't get up there and sound like Bernie because 917 00:47:28,680 --> 00:47:31,279 Speaker 6: then everyone's know it's not that's not who Joe Biden is, 918 00:47:31,840 --> 00:47:34,799 Speaker 6: but in his own way as Scranton Joe, and through 919 00:47:34,840 --> 00:47:38,799 Speaker 6: policy accomplishments and highlighting Trump's true economic record, which is 920 00:47:38,960 --> 00:47:41,840 Speaker 6: massive task us for big corporations of the wealthy, and 921 00:47:41,920 --> 00:47:45,480 Speaker 6: while Joe Biden's trying to bring jobs back from China, 922 00:47:45,640 --> 00:47:49,439 Speaker 6: manufacturing jobs and high tech jobs. Heldough a compelling story 923 00:47:49,480 --> 00:47:51,000 Speaker 6: to tell, but it's just going to take a while 924 00:47:51,000 --> 00:47:51,360 Speaker 6: to tell it. 925 00:47:51,600 --> 00:47:54,920 Speaker 1: Thank you so much, Ben, Really interesting sure. 926 00:47:54,760 --> 00:47:59,040 Speaker 5: Thing and a moment. 927 00:48:00,280 --> 00:48:05,440 Speaker 1: Jesse Cannon, Molly job fast. Those Republicans are in disarray, 928 00:48:05,719 --> 00:48:07,799 Speaker 1: and I think it's always funny because we often make 929 00:48:07,840 --> 00:48:08,799 Speaker 1: a joke about that. 930 00:48:09,000 --> 00:48:10,839 Speaker 5: But what else do you call this? 931 00:48:11,280 --> 00:48:15,160 Speaker 1: They can't get the rules vote passed, and the rules 932 00:48:15,239 --> 00:48:17,400 Speaker 1: vote is like a very standard you know, like what 933 00:48:17,560 --> 00:48:19,840 Speaker 1: kind of paper shall we write this on? Since nineteen 934 00:48:19,880 --> 00:48:23,280 Speaker 1: ninety five, the House has failed to pass rules eight times, 935 00:48:23,440 --> 00:48:28,360 Speaker 1: all under GOP control. McCarthy has failed three times in 936 00:48:28,400 --> 00:48:34,879 Speaker 1: the last eight months, including twice this week. Con Gradations, 937 00:48:35,239 --> 00:48:39,600 Speaker 1: Kevin McCarthy, you are our moment of Ourckeray. That's it 938 00:48:39,719 --> 00:48:43,720 Speaker 1: for this episode of Fast Politics. Tune in every Monday, Wednesday, 939 00:48:43,719 --> 00:48:46,680 Speaker 1: and Friday to hear the best minds in politics makes 940 00:48:46,680 --> 00:48:50,000 Speaker 1: sense of all this chaos. If you enjoyed what you've heard, 941 00:48:50,360 --> 00:48:53,320 Speaker 1: please send it to a friend and keep the conversation going. 942 00:48:53,719 --> 00:48:55,400 Speaker 1: And again, thanks for listening.