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

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Speaker 1: Washington Broadcast Center, Jack Armstrong, Joe Getty.

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Speaker 2: Arm Strong and Jetty I know he Armstrong and Getty.

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Speaker 3: I've got a sore throat and a couple other symptoms

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Speaker 3: I won't mention. And as Joe mentioned, there's a quindemic

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Speaker 3: going on.

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Speaker 2: We're getting a lot of quinn depends who you ask.

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Speaker 3: We're getting a lot of text from people have also

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Speaker 3: been quite sick with either RSV whatever that is, monkey pox.

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Speaker 3: Nobody's texted that has monkey pox, but that's going around

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Speaker 3: bird flu, covid, regular flu. And then there's one other

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Speaker 3: one going is there, I don't know. Oh, they have

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Speaker 3: the biggest tuberculosis outbreak in the Midwest they've had in

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Speaker 3: like a century or something.

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Speaker 4: Then you got your measles among mostly illegal immigrants, and

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Speaker 4: the AP says I should never use that term unvaccinated

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Speaker 4: people as well breaking out and a certain you know,

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Speaker 4: it's not a huge percentage, but a certain percentage kids

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Speaker 4: die of the measles.

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Speaker 2: It's not just you know.

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Speaker 4: Red spots, hmmm, extremely high fever, problems with the brain.

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Speaker 2: Terrible.

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Speaker 4: Anyway, coming up, I on the economy, a couple of

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Speaker 4: really interesting stories about you know, dollars and cents and

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Speaker 4: that sort of thing. Now, Michael, I'm gonna challenge you.

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Speaker 4: You remember when that was hot. Instead of saying, hey,

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Speaker 4: this is something you gotta do, I'm going to challenge

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Speaker 4: Michael to come up with some theme music for I

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Speaker 4: on the Economy. That's not the same damn music you

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Speaker 4: always play. I want a good Then you got like

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Speaker 4: twenty minutes, almost half an hour to come.

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Speaker 2: Up with it. All right, I'll come up with something.

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Speaker 3: All right, Now, we need five things you accomplished last

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Speaker 3: week to justify your employment.

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Speaker 4: Yeah, that too by noon. Oh so I thought I'm

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Speaker 4: working on mine. I haven't come up with number three yet.

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Speaker 4: I've got two solid ones, and I'm thinking I'm thinking hard.

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Speaker 4: William Laugines Fox News unleashed this report Friday after our show.

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Speaker 4: I liked it so well I reached out to the

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Speaker 4: Fellows to chop it up and have it for you.

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Speaker 2: It's not like it's plowing.

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Speaker 4: New ground, but the facts are with our worth reconsidering

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Speaker 4: yet again surrounding the so called bullet train in California.

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Speaker 2: It is.

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Speaker 4: Among the greatest thefts of money, particularly taxpayer money.

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Speaker 2: Perhaps in the history of humankind.

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Speaker 3: Definitely could be. That's not hyperbole, that actually could be.

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Speaker 4: When the pharaohs of old said, you know, I'm gonna

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Speaker 4: be dead soon, and I need a gigantic tomb. How

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Speaker 4: big like thirty feet mister pharaoh. No, no, no, like

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Speaker 4: five hundred feet tall, twice as wide, and we're going

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Speaker 4: to have people from all over the world slave away.

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Speaker 4: And you all got to get more granite than anybody's

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Speaker 4: ever seen in their lives, and you got to build

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Speaker 4: me a monument that was a smaller theft of you know,

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Speaker 4: community resources than the bullet trained. William Lauginext Michael, we'll

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Speaker 4: start with eighty Yeah, you got that ready, Let's hear it.

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Speaker 5: This is the biggest boondogo in the United States. California

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Speaker 5: knows it.

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Speaker 2: You know it.

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Speaker 5: So does President Trump, which is why he has called

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Speaker 5: for this audit, which could effectively kill the bullet Trained.

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Speaker 5: And it's also why this is how the LA Union

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Speaker 5: station looked like yesterday. Protesters, many union workers who depend

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Speaker 5: on that federal lifeline, turned out to throw tomatoes and

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Speaker 5: hackle Transportation Secretary Sean Duffy.

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Speaker 2: If you want to go protest somewhere.

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Speaker 1: If you want to shout at someone, go to the

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Speaker 1: governor's mansion, Go talk to Democrats in the legislature who

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Speaker 1: have brought us this crappy project.

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Speaker 4: You notice it was not would be rail riders protested

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Speaker 4: because they're so excited about the bullet. No, it was

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Speaker 4: people profiting from it, and only people profiting from it.

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Speaker 2: Next clip.

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Speaker 5: Seventeen years and sixteen billion dollars later, the project has

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Speaker 5: yet delay a single foot of rail.

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Speaker 2: It was sold to voters.

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Speaker 5: In two thousand and eight is a low cost, environmentally

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Speaker 5: friendly way to get from LA to San Francisco in.

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Speaker 2: Under three hours.

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Speaker 5: Even then, the claim was wildly misleading or a lie,

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Speaker 5: depending on who you believe.

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Speaker 2: This is a failed project.

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Speaker 4: It is a complete waste of money for California taxpayers

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Speaker 4: and federal taxpayers.

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Speaker 2: We want to say no to a king and yes

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Speaker 2: to high speed rail.

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Speaker 6: This is something that will help people for generations, will

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Speaker 6: help take vehicles off their own and help people have.

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Speaker 2: More options to get around California.

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Speaker 3: By the way, I just for my birthday, I traveled

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Speaker 3: to LA from northern California, like so many people do.

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Speaker 3: It took fifty minutes. It was quite cheap and very handy.

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Speaker 3: It's called Southwest Airlines three hours. Why would I ever

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Speaker 3: want to take a three hour train ride to LA

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Speaker 3: if I can fly there fifty minutes.

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Speaker 4: Maybe take in the beautiful scenery along Eye five if

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Speaker 4: you've driven ever driven I five between San Francisco and

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Speaker 4: La Hugh anyway, Ah. In a transparent maneuver, which we

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Speaker 4: talked about last week, the rail Authority and their union

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Speaker 4: buddies put out a study that said a majority of

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Speaker 4: America of California still support the high speed rail last week,

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Speaker 4: and Jack despaired over that. I think it is clearly

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Speaker 4: an example of and this is how it goes, which

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Speaker 4: is why you have to be at least a little

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Speaker 4: careful talking about issues pulling. The rail Authority commissioned a

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Speaker 4: poll from I think it was Emerson or somebody like that.

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Speaker 4: But the specific wording of the question is going to

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Speaker 4: be incredibly important in this sort of poll. I'll bet

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Speaker 4: they asked a high speed rail between LA and San

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Speaker 4: Francisco where you can zoom between there, and it's environmentally

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Speaker 4: beneficial and very inexpensive and it will always save a

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Speaker 4: nice comfy seat for you.

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Speaker 2: Are you in favor of that? Against it.

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Speaker 4: They worded the question in such a rosy manners to

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Speaker 4: get the result they wanted, just before the Feds stepped

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Speaker 4: in and said, hey, this is a pilot crappen, a

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Speaker 4: huge theft.

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Speaker 2: We're not financing it.

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Speaker 3: Are you in favor of supporting high speed rail which

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Speaker 3: will save the planet and your child's life, or are

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Speaker 3: you a bad person?

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Speaker 2: Whichard?

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Speaker 4: Do you want your children to die of black lung

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Speaker 4: from the climate change?

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Speaker 2: Next clip?

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Speaker 5: So far, our federal taxpayers dumped about three billion into

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Speaker 5: the project, with another four million promised by but not

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Speaker 5: already spent from President Biden. How this audit could provide

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Speaker 5: President Trump the legal authority to claw that money back.

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Speaker 1: We're going to look at whether California High Speed Rail

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Speaker 1: has actually complied with the agreements that they've signed with

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Speaker 1: the federal government. And we can't just say we're going

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Speaker 1: to give money and then not hold states accountable to

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Speaker 1: how they spend that money.

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Speaker 4: A minimum of seven billion dollars of Californians in the

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Speaker 4: other states taxpayers money being squandered on them.

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Speaker 3: Was that this is what gives the energy to doge

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Speaker 3: and should four billion dollars Biden promised to give to

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Speaker 3: an already stupid, obviously wasteful program, four billion dollars of

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Speaker 3: people's taxpayer money from all around the country.

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Speaker 2: Nobody will.

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Speaker 3: I mean, they'll never be a train anyway. But even

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Speaker 3: if there were a train, none of these people's tax dollars,

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Speaker 3: These people are never gonna ride the dang thing.

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Speaker 2: I can't quit just to hand out the money.

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Speaker 3: Nobody's been ever to come up with a reason, Like

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Speaker 3: we're just talking about why you would ride the thing?

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Speaker 3: What are you gonna decide? You know what, today's day,

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Speaker 3: I'm gonna spend three hours getting to La or San

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Speaker 3: Francisco instead of the.

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Speaker 2: Fifty minutes that would take me to fly right right.

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Speaker 4: And it's a perpetual money printing machine too, because you

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Speaker 4: got the environmental groups who can fundraise off. They're gonna

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Speaker 4: put the track through the sacred habitat of the San

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Speaker 4: joa Quen rat mouse. And then you've got all of

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Speaker 4: the attorneys who are gonna sue over all the phony

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Speaker 4: environmental claims and the rest of it. And we're not

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Speaker 4: doing enough for this and that and the other. The

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Speaker 4: point is to hand out the money.

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Speaker 3: The Sanjuacin rat mouse needs to be protected, Yes, I

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Speaker 3: wish we would all catch on. I've only got on

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Speaker 3: in the last couple of years. The spending is the

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Speaker 3: point that needs to be on T shirts everywhere. The

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Speaker 3: spending is the point. They don't care if it actually

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Speaker 3: accomplishes anything. They just need to get it, you know, allotted.

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Speaker 3: If I'm Joe Biden and you asked me to be honest,

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Speaker 3: I would.

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Speaker 2: Say that care.

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Speaker 4: But before he was completely senile, he'd say, yeah, the

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Speaker 4: money's here March for the bullet train, but I don't

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Speaker 4: care if they use it to preserve Pelican habitat, or

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Speaker 4: build windmills or a library for BIPOC people.

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Speaker 2: I don't care. The point is to hand out the

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Speaker 2: money last clip.

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Speaker 5: So the train is decades behind scheduling, about one hundred

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Speaker 5: billion short. Governor Newsom wants to finish the Central Valley

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Speaker 5: lag Even that needs another twenty billion, and without federal help,

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Speaker 5: that's unlikely. Many say any money federal or state should

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Speaker 5: be better spent on wildlife or wildfire prevention and water

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Speaker 5: storage than.

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Speaker 4: Trained in nowhere or any light lighting it on fire, yeah,

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Speaker 4: or buying everybody in California pair of genes, or again,

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Speaker 4: practically anything. I'm good by the way I need to

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Speaker 4: get rid of clothes and I'm buy more.

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Speaker 2: That's funny. Uh to have time for this before we

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Speaker 2: take a break chair? Why not?

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Speaker 3: The UN had their big vote on this. It's the

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Speaker 3: three year anniversary of Russia invading Ukraine, one of the

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Speaker 3: worst aggressions, if not the worst aggression by a major

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Speaker 3: country since World War Two. The UN has adopted Ukraine's

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Speaker 3: resolution condemning Russian aggression, so that's good, and demanding the

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Speaker 3: immediate withdrawal of Putin's forces. But the US join Russia,

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Speaker 3: North Korea, Belarus, and Hungry and opposing in the resolution.

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Speaker 3: For the first time we opposed a resolution condemning Russia

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Speaker 3: for the invasion.

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Speaker 4: Trump thinks he can strike a real deal with lad Putin.

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Speaker 3: These are meaningless. I mean, it's a meaningless debating society,

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Speaker 3: and these are meaningless things.

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Speaker 2: But it's that's something.

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Speaker 3: The United States sided with Russia and North Korea, Belarus

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Speaker 3: and Hungary and being against saying something is clear cut

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Speaker 3: obviously true, as Russia's the bad guy here and they

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Speaker 3: ought to get out.

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Speaker 4: Yeah, yeah, I just Trump would say, why would I

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Speaker 4: antagonize the guy We're about to go into negotiations I

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Speaker 4: just think he's wrong. Is trying to negotiate with an alligator.

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Speaker 4: You're not going to buy favor or intimidate or woo

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Speaker 4: or anything.

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Speaker 3: I understand the logic to a certain extent of sure. Look,

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Speaker 3: your view of voting on the other side is right,

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Speaker 3: But what is it going to do in terms of

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Speaker 3: ending this war?

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Speaker 2: Is it going to make it more likely or less

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Speaker 2: likely to end it? Right? Yeah, that is his argument.

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Speaker 2: We'll see how this turns out. Man. That is something

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Speaker 2: more in the way. Bad attention on how to merge

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Speaker 2: onto the highway.

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Speaker 6: So you're going to be a dude at least the

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Speaker 6: speed limit, not crawling under speed limit, not making other

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Speaker 6: people break bad at tension.

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Speaker 2: Did that no issues?

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Speaker 6: You step on it, speed limit five ten above speed limit.

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Speaker 6: You merge with no issues whatsoever. Stop holding up traffic.

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Speaker 6: Mind your damn business in the right lane. Very simple, folks.

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Speaker 3: Well worn topic. But what is the thinking of the

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Speaker 3: people that enter the freeway so slowly?

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Speaker 2: I'm being cautious and safe.

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Speaker 4: To be cautious and safe, that means going slowly, simple

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Speaker 4: as that.

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Speaker 3: Right, Even though you were doing the most dangerous thing

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Speaker 3: anybody on the road's doing. You you just rupped the

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Speaker 3: likelihood of you dying in a fiery crash.

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Speaker 2: By a lot, but at an end innocence as well. Yes. Uh.

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Speaker 2: The interesting thing to me is how often I'll have

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Speaker 2: that happen.

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Speaker 3: Like I'm behind them getting on the on ramp and

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Speaker 3: they're going like forty five and okay, first off effort

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Speaker 3: I get I you know, check my mirror and get

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Speaker 3: around them and go let but then they'll pass me.

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Speaker 3: I'm going like eighty miles nor they're going driving faster

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Speaker 3: than me. So they're more than willing to drive fast.

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Speaker 2: They just don't.

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Speaker 3: They can't enter quickly. Now I know someone, and I

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Speaker 3: just wonder how many people are like this. I know

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Speaker 3: someone why, like a lot who just finds it too

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Speaker 3: like taxing on the car. They feel like it's too

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Speaker 3: you know, it's too much demanding of their vehicle to

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Speaker 3: like hit the gas and speed up like like that.

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Speaker 4: Mm. They need to drive with me and my big

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Speaker 4: giant engine.

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Speaker 2: That's the fun Partah.

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Speaker 3: Well. Anyway, speaking of driving, so I took probably I

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Speaker 3: don't know, maybe a dozen lyft rides in LA, although

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Speaker 3: I had been told this maybe this is a northern California,

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Speaker 3: say I don't know where it is where you live.

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Speaker 3: But I was told I had a problem with Uber,

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Speaker 3: and somebody said, you use Uber, you gotta use Lyft.

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Speaker 3: Lift is target, Uber as Walmart, and so I started

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Speaker 3: using Lyft. Well, I had some bad experiences with Lyft

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Speaker 3: in Los Angeles and somebody told me, no, it's the

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Speaker 3: opposite in La by far. Oh really yeah, Uber, Uber

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Speaker 3: is Uber is Nordstrom and and and Lyft is you know,

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Speaker 3: your local convenience store.

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Speaker 2: So okay, But anyway, I had a couple of really

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Speaker 2: weird experiences with Lyft, who were.

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Speaker 3: Like the people driving just had no idea to get

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Speaker 3: to the where I'm going, And I had to get

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Speaker 3: out my phone and look up away myself and start

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Speaker 3: telling them how to get there, which was just weird.

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Speaker 2: I've never had to do that ever. Got they got

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Speaker 2: an app and I couldn't read it or something.

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Speaker 3: I don't know how many times I circled my hotel.

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Speaker 3: I was in no hurry, so I just circling it

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Speaker 3: started going. I finally like said, uh, okay, or I

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Speaker 3: just can't figure out how to get there, he said

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Speaker 3: in a very thick Spanish accent. So I got out

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Speaker 3: my phone. I turn left here, turn left here, turn

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Speaker 3: right again. Okay, you can drop me off there. But

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Speaker 3: I mean, I don't know if he's a good driver

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Speaker 3: on the rest of his life. But got this notice

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Speaker 3: before one driver picked me up. Your lift driver is deaf?

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Speaker 3: Please text instead of calling. Learn how to say hello

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Speaker 3: or thank you an American sign language, which I tweeted.

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Speaker 2: Out and responded with, got this notice.

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Speaker 3: Oh sure, I'll just pick up sign language real quick

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Speaker 3: while I'm standing here on the corner.

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Speaker 2: No problem.

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Speaker 3: But it brought me a bunch of hate from people,

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Speaker 3: uh who believe I was being really like coarse and

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Speaker 3: non sympathetic to our disabled countryman by not learning it.

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Speaker 3: Oh would that really be too much to learn a

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Speaker 3: little sign language for someone who's deaf?

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Speaker 2: Wow?

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Speaker 4: How about to say hello, I wave with a smile

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Speaker 4: on face and to say thank you I give him

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Speaker 4: a thumbs up with a smile on my phone. Or

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Speaker 4: how about we I don't interact at all, which is

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Speaker 4: my first favorite go to a proposal of marriage and

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Speaker 4: or a threat.

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Speaker 2: No, it's universally understood.

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Speaker 3: Well, So aside from the hate for me being so

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Speaker 3: lacking and compassionate for our deaf friends that I wouldn't

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Speaker 3: learn sign language real quick. Well, I'm standing there with

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Speaker 3: my bags on the corner. I don't pick up a

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Speaker 3: foreign language, which it is real quick. Uh, A number

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Speaker 3: of people texted. Now that's what the people do who

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Speaker 3: can't speak English, so that they don't get out. It

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Speaker 3: is not being able to speak English. It's very common

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Speaker 3: in l Yeah, yeah, I took this job. I don't

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Speaker 3: speak English. And to get around that, there are too.

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Speaker 4: Many layers to modern life. I swear, oh no, no,

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Speaker 4: you don't understand that this is going on. That and

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Speaker 4: here in LA is posed everywhere else. And then the

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Speaker 4: driver is going to claim to be Armenian because Armenians,

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Speaker 4: of course have no thumbs, and if you have no thumbs,

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Speaker 4: you don't have to turn right. Oh, this is too much.

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Speaker 3: I would assume that it's a requirement to drive lift

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Speaker 3: or uber you speak English, right, because how else can

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Speaker 3: your passengers say no, drop me off here, or I've

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Speaker 3: changed my mind. I'd rather go to blah blah blah

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Speaker 3: if you can't talk to the person, or I vomited

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Speaker 3: in your back seat exactly, But if the but if

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Speaker 3: what we're going for here is some sort of agreement

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Speaker 3: where there's no chit chat. Sign me up. I'm all

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Speaker 3: day long, Pedro. I'm with you. Let's so you don't

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Speaker 3: talk to me. I don't talk to you. We're all happy.

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Speaker 4: I don't care if you're deaf or Guatemalan or Armenian

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Speaker 4: and umbless.

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Speaker 2: We're both happy here. Drop me off, just drive all city.

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Speaker 3: Yeah, drop me off someone near near my hotel, within

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Speaker 3: walking distance, and we'll call it good.

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Speaker 4: It's the big one that says help not it right there?

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Speaker 2: Oh that's right. You can't understand me, never mind right, wow, if.

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Speaker 4: You don't lie on the economy coming up in a

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Speaker 4: moment or two.

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Speaker 2: Joe's I'm the economy.

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Speaker 3: I've got an interesting nugget too about a consumer spending

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Speaker 3: that we'll get to.

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Speaker 2: Uh what was I going to say? I must say,

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Speaker 2: I don't know. I've flip it out of my head.

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Speaker 3: Anyway, if you missed a segment or now, you can

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Speaker 3: get the podcast Armstrong and get you on demand.

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Speaker 2: We do four hours every day. I mean, it's ridiculous,

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Speaker 2: it's too much. I'm being held without against my will. Yes,

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Speaker 2: stay tuned if you can.

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Speaker 4: The economy stuff is actually really interesting, in thought provoking.

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Speaker 1: Armstrong and Getty.

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Speaker 3: I'm not going to talk about it today, but the

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Speaker 3: topic that's about to take over our lives for those

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Speaker 3: of us who follow the news is the whole tax thing,

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Speaker 3: that bill that you got to get to like in

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Speaker 3: the next couple of weeks. There's a couple of giant

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Speaker 3: bills that are going to be proposed in the next

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Speaker 3: couple of weeks that are going to dominate the political

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Speaker 3: conversation for like the next six months.

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Speaker 2: Probably now.

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Speaker 4: If you're listening a while ago, you heard me challenge

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Speaker 4: Michaelangelow to come up with a good theme song.

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Speaker 2: Jack.

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Speaker 4: The tax bill might be in a future edition of

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Speaker 4: I on the Economy like that.

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Speaker 2: I'm Kent Brockman. That's good. Ten out of ten.

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Speaker 3: The money, yes, that's oh wow.

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Speaker 4: It's turned harsh there, but I don't mind it. This

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Speaker 4: sounds like your local news in like nineteen ninety.

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Speaker 2: Eight seven dollars.

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Speaker 4: Hip it up a little bit and it's hi on

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Speaker 4: the Galloway.

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Speaker 2: I'm Joe Ketty.

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Speaker 4: Oh that's beautiful. Just tightened it up and when they

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Speaker 4: will be right in the sweet spot. So a couple

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Speaker 4: of stories I found very very interesting.

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Speaker 2: Uh.

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Speaker 4: First of all, the weird weird housing market we're in,

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Speaker 4: which everybody knows no matter whether you're in a house,

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Speaker 4: hoping to buy a house, hoping to sell a house, renting,

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Speaker 4: what have you. A nice piece by Alicia Finley in

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Speaker 4: the Wall Street Journal White of housing prices keep climbing

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Speaker 4: despite higher interest rates.

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Speaker 2: Well, the Biden and it's been confusing to me.

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Speaker 4: Oh yeah, Well, the Biden administration did some real activist

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Speaker 4: stuff that was Obama esque and did not really get

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Speaker 4: much attention. The federal government has allowed barwers to take

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Speaker 4: out much bigger mortgages they than they can really afford

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Speaker 4: to prevent foreclosures. That's bailing them out when they missed payments.

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Speaker 4: Behold another subprime housing bubble. Ah. The problems began, Alicia Wrights,

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Speaker 4: when the Obama administration eased underwriting standards by enabling more

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Speaker 4: home buyers whose debt payments exceeded forty three percent of

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Speaker 4: income oh to qualify for government backed loans forty three.

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Speaker 2: A higher than that.

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Speaker 4: So that sort of borrower is risky obviously, because they

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Speaker 4: might not be able to make payments if their income

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Speaker 4: drops or expenses rise, or you know, they blow all

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Speaker 4: four tires or whatever. You as the home client prices climbed,

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Speaker 4: the FHA, the Federal Housing Administration ensured more loans to

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Speaker 4: financially stretch borrows with as little as three and a

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Speaker 4: half percent down. Now, this was the Obama time, no

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Speaker 4: skin off lenders backs if the bar was defaulted, since

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Speaker 4: the mortgages were backed by the government. And you remember

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Speaker 4: the whole Barney Frank Obama thing where if banks didn't

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Speaker 4: write a certain number of mortgages to buy POC people

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Speaker 4: or whatever they are calling them back, then we would

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Speaker 4: bring the full weight to the regulatory state down on

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Speaker 4: your heads. And the banks were like, well, then we'll

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Speaker 4: go under, and Obama said, no, no, no, no, We'll

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Speaker 4: have the federal government insure those loans, so the taxpayer

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Speaker 4: will fund it, and the tax federal deal a tax

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Speaker 4: payer will deal with it when they go under.

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Speaker 2: Anyway, So listen to this, though. This is where it

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Speaker 2: gets crazy to me.

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Speaker 3: There might be a giant collapse again where prices drop.

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Speaker 2: Those all are on the sidelines. That could never happen. Jack,

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Speaker 2: We're kind of getting there.

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Speaker 4: But in two thousand and seven, thirty five percent of

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Speaker 4: new FAJA borrowers had deckted income ratios above forty three

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Speaker 4: percent thirty five percent. By last year, fifty four percent

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Speaker 4: did more than half wow, and his housing prices and

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Speaker 4: inflation surged, borrowers became more stretched. The FAA kept ensuring

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Speaker 4: mortgages to borrowers who were increasingly leveraged. About sixty four

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Speaker 4: percent of FHA barers last year exceeded the forty three

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Speaker 4: percent threshold. So the faja's loan portfolio is a lot

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Speaker 4: riskier than it was just before the two thousand and

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Speaker 4: eight housing crisis. Now, I don't know what percentage they

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Speaker 4: may have mentioned it, how big that is within the

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Speaker 4: the you know, the global housing market within the US,

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Speaker 4: I don't actually know that. But the number of delinquents

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Speaker 4: are heading for delinquent mortgages is rough.

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Speaker 2: It's high right now. And Biden administration's gone now.

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Speaker 4: But the house of cards they built could collapse if

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Speaker 4: Trump officials dare to end some of these programs, because

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Speaker 4: they're the only thing keeping people in their houses and

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Speaker 4: paying their loan.

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Speaker 2: Home prices are so ridiculously high.

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Speaker 4: Though soft to happen, Oh, I know, I know it's

436
00:22:23,400 --> 00:22:26,440
Speaker 4: got to burble down, but it just remember politicians don't

437
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Speaker 4: care if they are presiding over the road to ruin

438
00:22:31,119 --> 00:22:33,840
Speaker 4: if they are out of office when the ruin happens,

439
00:22:34,200 --> 00:22:39,680
Speaker 4: they don't care anyway. Foreclosures would inevitably decrease, which cause

440
00:22:39,760 --> 00:22:42,240
Speaker 4: home prices to fall sharply in lower income neighborhoods with

441
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Speaker 4: more FAHA mortgages. More borrowers would then fall underwater, balloting

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Speaker 4: tax payer losses. The homes might also become more affordable.

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Speaker 2: What a mess. Who will get blamed not the folks

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00:22:51,960 --> 00:22:53,240
Speaker 2: who inflated the bubble?

445
00:22:54,000 --> 00:22:57,800
Speaker 4: Alisha points out, She's absolutely right, and I thought this

446
00:22:58,080 --> 00:23:03,679
Speaker 4: was really interesting and really easy to understand. They mentioned

447
00:23:03,960 --> 00:23:07,680
Speaker 4: that many Americans are pinching pennies, high prices, stubborn inflation,

448
00:23:08,280 --> 00:23:11,200
Speaker 4: but the well off are spending with abandon the top

449
00:23:11,320 --> 00:23:14,399
Speaker 4: percent ten percent of earners top ten percent, which is

450
00:23:14,480 --> 00:23:17,120
Speaker 4: households making around two hundred and fifty thousand or more

451
00:23:17,440 --> 00:23:21,640
Speaker 4: per year. As we always point out, and for some reason,

452
00:23:21,720 --> 00:23:24,600
Speaker 4: we're the only people who point this out. Quarter of

453
00:23:24,680 --> 00:23:30,800
Speaker 4: a million bucks in La San Francisco, Manhattan, it's nothing.

454
00:23:31,040 --> 00:23:33,280
Speaker 2: You're living inn Oaki. You're living a good life. You're

455
00:23:33,320 --> 00:23:34,200
Speaker 2: living a fine life.

456
00:23:34,320 --> 00:23:38,920
Speaker 4: If you're in Coonhauller, Kentucky, you're rich as hell. Anyway,

457
00:23:39,440 --> 00:23:42,080
Speaker 4: the top ten percent of earners are splurging on everything

458
00:23:42,119 --> 00:23:45,960
Speaker 4: from vacations to designer handbags. Bullied by big gains in stocks,

459
00:23:46,040 --> 00:23:49,120
Speaker 4: real estate, and assets. The top ten percent now account

460
00:23:49,119 --> 00:23:52,480
Speaker 4: for fifty percent of all spending, a record in data

461
00:23:52,560 --> 00:23:56,120
Speaker 4: going back to nineteen eighty nine when Moody's Analystics first

462
00:23:56,119 --> 00:23:56,800
Speaker 4: started looking at this.

463
00:23:56,880 --> 00:23:57,359
Speaker 2: Sup this.

464
00:23:57,480 --> 00:24:01,200
Speaker 3: This doesn't sound good. That just doesn't seem like on

465
00:24:01,280 --> 00:24:03,560
Speaker 3: the face of it, it could be good. Two thirds

466
00:24:03,880 --> 00:24:06,040
Speaker 3: of consumer spa or two.

467
00:24:06,040 --> 00:24:12,000
Speaker 4: Half what half half of consumer spending is ten percent

468
00:24:12,040 --> 00:24:14,520
Speaker 4: of population going to quote a different statistic.

469
00:24:14,600 --> 00:24:19,760
Speaker 3: Okay, two thirds of the economy is consumer spending, and yeah,

470
00:24:20,040 --> 00:24:23,359
Speaker 3: half of that is just the top ten percent.

471
00:24:23,840 --> 00:24:26,639
Speaker 2: That ain't correct. That is not good. That is a

472
00:24:26,760 --> 00:24:27,880
Speaker 2: setup for disaster.

473
00:24:29,480 --> 00:24:32,760
Speaker 4: Three decades ago, the top percent was about thirty six

474
00:24:32,920 --> 00:24:37,320
Speaker 4: percent of spending. So it's up by almost half, not

475
00:24:37,520 --> 00:24:39,720
Speaker 4: quite up by forty percent as a percentage.

476
00:24:39,760 --> 00:24:43,240
Speaker 3: I would like to see the next quintile or however

477
00:24:43,280 --> 00:24:45,520
Speaker 3: they would break it down, because I keep talking all

478
00:24:45,560 --> 00:24:49,879
Speaker 3: the time about you know, you see these statistics are

479
00:24:49,920 --> 00:24:51,879
Speaker 3: how many people are paycheck to paycheck, and how much

480
00:24:51,960 --> 00:24:53,879
Speaker 3: credit people have maxed out credit cards and all these

481
00:24:53,880 --> 00:24:54,360
Speaker 3: different things.

482
00:24:54,400 --> 00:24:57,520
Speaker 2: But you know, you go to Vegas. Yeah, you fly

483
00:24:57,640 --> 00:24:59,680
Speaker 2: on a plane, you go to a restaurant.

484
00:25:00,640 --> 00:25:02,800
Speaker 3: It seems like people are spending like crazy. So if

485
00:25:03,240 --> 00:25:05,080
Speaker 3: if you got half of the consumer spending as that

486
00:25:05,160 --> 00:25:07,720
Speaker 3: top ten percent, I wonder what the next ten percent

487
00:25:07,760 --> 00:25:09,200
Speaker 3: of people account for?

488
00:25:09,240 --> 00:25:10,040
Speaker 2: All bet a lot.

489
00:25:11,680 --> 00:25:17,000
Speaker 4: Picturing Bernie Sanders yelling top ten percent as who the

490
00:25:17,080 --> 00:25:19,399
Speaker 4: demon eyes gets bigger and bigger as we've predicted.

491
00:25:19,440 --> 00:25:21,280
Speaker 3: But in other words, I'm I'm wondering if like the

492
00:25:21,440 --> 00:25:25,440
Speaker 3: top twenty five percent income account for like ninety five

493
00:25:25,560 --> 00:25:26,800
Speaker 3: percent of consumer spending.

494
00:25:27,240 --> 00:25:29,760
Speaker 2: I'll bet you're right. I'll bet you your DAYMN close

495
00:25:29,800 --> 00:25:30,120
Speaker 2: to right.

496
00:25:30,400 --> 00:25:33,200
Speaker 4: All this means that economic growth is unusually reliant on

497
00:25:33,359 --> 00:25:38,639
Speaker 4: rich Americans to continue to spend. Mark Zandi, Chief Economistic

498
00:25:38,720 --> 00:25:40,879
Speaker 4: mood is estimating that spending by the top ten percent

499
00:25:40,920 --> 00:25:43,960
Speaker 4: alone accounted for almost one third of gross domestic product

500
00:25:45,320 --> 00:25:48,360
Speaker 4: between September of twenty three and September of twenty four.

501
00:25:48,840 --> 00:25:52,480
Speaker 4: High earners increase their spending by twelve percent. Spending by

502
00:25:52,560 --> 00:25:56,639
Speaker 4: working class middle class households meanwhile dropped over the same period.

503
00:25:58,359 --> 00:26:01,440
Speaker 4: So taking together, well off people have increased, they're spending

504
00:26:01,560 --> 00:26:03,960
Speaker 4: far beyond inflation, while everyone else has not.

505
00:26:04,920 --> 00:26:07,960
Speaker 2: Here's a little of what you're asking for. The bottom eighty.

506
00:26:07,840 --> 00:26:12,159
Speaker 4: Percent of earners spent twenty five percent more than they

507
00:26:12,200 --> 00:26:16,840
Speaker 4: did four years earlier, barely outpacing price increases of twenty

508
00:26:17,080 --> 00:26:19,919
Speaker 4: one percent over that period. So in real dollars, they

509
00:26:19,960 --> 00:26:23,200
Speaker 4: only increase by four percent. The top ten percent percent

510
00:26:23,480 --> 00:26:26,800
Speaker 4: spent fifty eight percent more. I realized, there's a hell

511
00:26:26,840 --> 00:26:28,159
Speaker 4: of a lot of numbers if you don't have them

512
00:26:28,240 --> 00:26:30,680
Speaker 4: in print in front of you. But again, so the

513
00:26:30,720 --> 00:26:36,879
Speaker 4: bottom eighty percent really outpaced inflation only by four percent.

514
00:26:37,240 --> 00:26:42,840
Speaker 4: The top ten percent outpaced inflation by thirty seven percent.

515
00:26:44,960 --> 00:26:47,560
Speaker 3: I find this a fascinating topic, and I was thinking

516
00:26:47,600 --> 00:26:48,920
Speaker 3: about it a lot on Friday, since I was in

517
00:26:49,040 --> 00:26:51,600
Speaker 3: LA for my birthday and I was on Wilshire Boulevard

518
00:26:51,640 --> 00:26:54,480
Speaker 3: and Rodeo Drive, really expensive area. Stuff like that. Look

519
00:26:54,480 --> 00:26:58,720
Speaker 3: at it, stuff not buying, And how many things that

520
00:26:58,880 --> 00:27:02,840
Speaker 3: are purchased in America don't need to be purchased at all,

521
00:27:03,480 --> 00:27:06,280
Speaker 3: or even in things you do need to purchase, you

522
00:27:06,320 --> 00:27:10,440
Speaker 3: could purchase a much cheaper version and be fine. Yeah, cars,

523
00:27:11,040 --> 00:27:15,560
Speaker 3: you know, almost always you could. You could be perfectly

524
00:27:15,640 --> 00:27:19,680
Speaker 3: fine with a cheaper car. Now I realized go ahead,

525
00:27:19,880 --> 00:27:22,760
Speaker 3: and I just just it's it's interesting that as human

526
00:27:22,840 --> 00:27:27,960
Speaker 3: beings we do that, and it would stop quite quickly

527
00:27:28,040 --> 00:27:31,480
Speaker 3: a lot of it. Well, it's it's basically the difference

528
00:27:31,520 --> 00:27:36,600
Speaker 3: between elastic products and inelastic products. But all that would

529
00:27:36,640 --> 00:27:39,679
Speaker 3: come to a head really quickly in a bad, bad downturn,

530
00:27:39,880 --> 00:27:41,600
Speaker 3: like a you know, a cataclysm.

531
00:27:42,359 --> 00:27:44,720
Speaker 4: I gained so much weight over my birthday week. I'm

532
00:27:44,760 --> 00:27:48,800
Speaker 4: really grateful, grateful for elastic products. Anyway.

533
00:27:49,560 --> 00:27:51,600
Speaker 2: Yeah, it's all very top heavy.

534
00:27:51,640 --> 00:27:53,960
Speaker 4: I wonder what well I was gonna say, I wonder

535
00:27:54,000 --> 00:27:58,919
Speaker 4: what percentage of the GDP is based on status symbol purchases.

536
00:27:59,080 --> 00:27:59,640
Speaker 2: But right.

537
00:28:01,320 --> 00:28:04,919
Speaker 4: To a certain extent, does that even mean? I mean,

538
00:28:05,000 --> 00:28:06,920
Speaker 4: like I have a nice car. I have a really

539
00:28:07,000 --> 00:28:11,960
Speaker 4: nice car. It's also super zoomy and capable. It's an

540
00:28:12,080 --> 00:28:16,040
Speaker 4: suv and it's fun to drive. I don't need that car. Clearly,

541
00:28:17,119 --> 00:28:19,840
Speaker 4: is that a status symbol or what I mean? A

542
00:28:19,920 --> 00:28:23,399
Speaker 4: bunch of people are employed making them and selling them

543
00:28:23,440 --> 00:28:27,920
Speaker 4: and servicing them. Yeah, I don't know.

544
00:28:28,760 --> 00:28:30,800
Speaker 2: Oh, it's all very very top heavy, though.

545
00:28:30,840 --> 00:28:33,040
Speaker 4: It reminds me of do you remember it was probably

546
00:28:33,119 --> 00:28:36,240
Speaker 4: I don't know, six months ago when somebody finally said

547
00:28:36,280 --> 00:28:38,480
Speaker 4: out loud. Hey, you know how the S and P

548
00:28:38,960 --> 00:28:42,920
Speaker 4: uh five hundred or the Nasdaq or whatever. You know

549
00:28:43,040 --> 00:28:44,600
Speaker 4: how that's up eighty percent.

550
00:28:45,200 --> 00:28:49,480
Speaker 2: It's just five stocks out of like a couple hundred.

551
00:28:49,720 --> 00:28:53,240
Speaker 3: Just fine, right, unless you were those stocks, if you

552
00:28:53,320 --> 00:28:55,800
Speaker 3: unless you were in those stocks, it didn't change your

553
00:28:55,840 --> 00:28:56,680
Speaker 3: situation that much.

554
00:28:57,480 --> 00:28:59,840
Speaker 2: Or in an index fund, which which helps obviously.

555
00:29:00,080 --> 00:29:04,280
Speaker 4: But like the American economy is robust and growing, look

556
00:29:04,360 --> 00:29:05,840
Speaker 4: at the S and P five hundred.

557
00:29:05,840 --> 00:29:07,400
Speaker 2: I will never refer to the Dow again.

558
00:29:07,760 --> 00:29:10,920
Speaker 4: The TAO is more idiotic than it's ever been as

559
00:29:10,960 --> 00:29:12,040
Speaker 4: a measure of anything.

560
00:29:12,560 --> 00:29:15,840
Speaker 3: Never look at the TAO because of the fashier lamb

561
00:29:15,920 --> 00:29:19,080
Speaker 3: that it's dominated so much by Nvidia and Apple and

562
00:29:19,160 --> 00:29:19,840
Speaker 3: that sort of stuff.

563
00:29:20,400 --> 00:29:25,200
Speaker 4: No, No, the opposite the TAO is it would take

564
00:29:25,200 --> 00:29:27,800
Speaker 4: too long to explain, but the way it's weighted, what

565
00:29:27,920 --> 00:29:31,280
Speaker 4: it's composed of as a measure of the economy is stupid.

566
00:29:31,720 --> 00:29:33,360
Speaker 2: It's not a measure of anything.

567
00:29:33,520 --> 00:29:36,240
Speaker 3: I hate to sound like bird Bernie Sanders, but a

568
00:29:36,440 --> 00:29:38,760
Speaker 3: lot of that kind of talk that you get the

569
00:29:38,800 --> 00:29:41,959
Speaker 3: measures are for the ultra rich and investors.

570
00:29:42,320 --> 00:29:45,360
Speaker 2: They're using measures that matter to them but don't matter

571
00:29:45,480 --> 00:29:47,720
Speaker 2: to lots and lots and lots of the rest of us.

572
00:29:48,880 --> 00:29:52,080
Speaker 4: Yeah, well that's true, I would argue in the case

573
00:29:52,120 --> 00:29:54,880
Speaker 4: of the Dow, that's not true. The Wall Street Journal

574
00:29:55,000 --> 00:29:57,480
Speaker 4: editorial board is like, can we stop talking about the Dow?

575
00:29:57,560 --> 00:30:02,440
Speaker 4: It's dumb anyway. Ah, But I'm reminded the same top heaviness. If,

576
00:30:03,760 --> 00:30:07,600
Speaker 4: for instance, Taiwan gets invaded and we can't get chips

577
00:30:07,640 --> 00:30:10,360
Speaker 4: in the numbers that we need, Uh, there's gonna be

578
00:30:10,440 --> 00:30:11,480
Speaker 4: a global depression.

579
00:30:11,960 --> 00:30:13,720
Speaker 2: That's almost certain.

580
00:30:15,240 --> 00:30:18,240
Speaker 4: Because we're so relying on certain sectors and a certain

581
00:30:18,720 --> 00:30:20,720
Speaker 4: you know, percentage of the population to do all the

582
00:30:20,800 --> 00:30:21,520
Speaker 4: consumer spending.

583
00:30:21,600 --> 00:30:24,000
Speaker 3: I feel like we're getting close to Glenn beck territory here,

584
00:30:24,120 --> 00:30:26,360
Speaker 3: where he would write on the chalkboard and then start

585
00:30:26,400 --> 00:30:28,719
Speaker 3: crying but how awful things are.

586
00:30:28,800 --> 00:30:36,720
Speaker 2: I feel like we're having We're into that territory right now. Yeah. Yeah,

587
00:30:36,760 --> 00:30:38,960
Speaker 2: I've been poor before. I really don't want to be,

588
00:30:39,360 --> 00:30:46,600
Speaker 2: but I'm not. I mean, I'm miles away from Bertie Sanders.

589
00:30:46,680 --> 00:30:52,520
Speaker 3: But like watching the most conspicuous of conspicuous consumption right

590
00:30:52,640 --> 00:30:55,880
Speaker 3: in La, I mean, second only to maybe do Bai.

591
00:30:57,840 --> 00:31:00,640
Speaker 3: I mean, it's just like it's hard to not come

592
00:31:00,720 --> 00:31:04,880
Speaker 3: away from that and think why does this exist? It

593
00:31:04,960 --> 00:31:08,760
Speaker 3: shouldn't exist. Shouldn't it just be condemned by everyone?

594
00:31:09,080 --> 00:31:09,840
Speaker 5: I mean, just like.

595
00:31:11,920 --> 00:31:12,360
Speaker 6: What is it?

596
00:31:14,360 --> 00:31:14,560
Speaker 3: Yeah?

597
00:31:15,160 --> 00:31:17,480
Speaker 2: Yeah, I see your point.

598
00:31:17,640 --> 00:31:22,400
Speaker 4: I mean like virtually every great religion philosophy has cautioned

599
00:31:22,480 --> 00:31:27,280
Speaker 4: us against materialism and over luxury and the rest of it.

600
00:31:27,360 --> 00:31:29,440
Speaker 4: But what are you gonna do with the money? I mean,

601
00:31:29,520 --> 00:31:32,760
Speaker 4: if I'm in a business that you know whatever. I

602
00:31:32,960 --> 00:31:35,560
Speaker 4: invested in Apple and it paid off like crazy, and

603
00:31:35,640 --> 00:31:36,880
Speaker 4: now I got buttloads of money.

604
00:31:36,920 --> 00:31:39,960
Speaker 2: What am I supposed to do? I didn't, by the way,

605
00:31:40,040 --> 00:31:40,800
Speaker 2: And I don't.

606
00:31:40,640 --> 00:31:42,640
Speaker 3: Buy a handbag with a certain name on it. That's

607
00:31:42,680 --> 00:31:44,640
Speaker 3: just like any other handbag. But this one costs five

608
00:31:44,720 --> 00:31:45,280
Speaker 3: thousand dollars.

609
00:31:45,680 --> 00:31:50,000
Speaker 2: I shan't be doing that. We will finish strong. Next,

610
00:31:53,280 --> 00:31:57,360
Speaker 2: are you not going to comply with it state federal laws?

611
00:31:57,880 --> 00:32:00,960
Speaker 7: Well we are the federal law. Well you better do it.

612
00:32:01,120 --> 00:32:02,680
Speaker 7: You better do it because you're not going to get

613
00:32:02,720 --> 00:32:04,760
Speaker 7: any federal funding at all if you don't. And by

614
00:32:04,800 --> 00:32:07,520
Speaker 7: the way, your population, even though it's somewhat liberal, although

615
00:32:07,560 --> 00:32:11,080
Speaker 7: I did very well there, your population doesn't want men

616
00:32:11,240 --> 00:32:15,440
Speaker 7: playing in women's sports. So you better comply because otherwise

617
00:32:15,480 --> 00:32:19,560
Speaker 7: you're not getting any federal funding. See every state. Good,

618
00:32:19,600 --> 00:32:21,120
Speaker 7: I'll see you and could I look forward to that.

619
00:32:21,240 --> 00:32:22,400
Speaker 7: That should be a really easy one.

620
00:32:23,040 --> 00:32:25,600
Speaker 2: Wow. See, that's the first time I've heard that.

621
00:32:25,720 --> 00:32:29,680
Speaker 3: That's Trump arguing with the governor of Maine who wants

622
00:32:29,720 --> 00:32:32,960
Speaker 3: to continue to let dudes play in women's sports, despite

623
00:32:33,000 --> 00:32:34,600
Speaker 3: the fact that The New York Times has a poll

624
00:32:34,640 --> 00:32:39,200
Speaker 3: out today saying eighty percent of Americans that includes two

625
00:32:39,280 --> 00:32:43,360
Speaker 3: thirds of Democrats, think transgender athletes should not be allowed

626
00:32:43,400 --> 00:32:45,640
Speaker 3: to compete in women's sports. So it's not even close.

627
00:32:45,840 --> 00:32:49,160
Speaker 3: It's not even close among Democrats. But anyway, I saw

628
00:32:49,280 --> 00:32:52,960
Speaker 3: these headlines about how this governor of Maine owned Donald

629
00:32:53,000 --> 00:32:56,720
Speaker 3: Trump or shames Donald Trump or whatever, and that's not

630
00:32:56,800 --> 00:32:57,720
Speaker 3: what it sounded like to me.

631
00:32:58,760 --> 00:33:02,160
Speaker 4: No, Okay, go ahead, stand up for an issue that

632
00:33:02,800 --> 00:33:06,000
Speaker 4: teens worth of percentages of Americans believe in.

633
00:33:06,200 --> 00:33:07,800
Speaker 2: As perverse as it is, I.

634
00:33:07,880 --> 00:33:11,160
Speaker 3: Know, the headline I saw the most was main governor

635
00:33:11,240 --> 00:33:13,000
Speaker 3: tells Trump, I'll see you in court.

636
00:33:13,600 --> 00:33:15,240
Speaker 2: Yeah. Well, Trump said, yeah, okay, I'll see you in

637
00:33:15,320 --> 00:33:20,920
Speaker 2: court too. Sounds great. Yeah, I know, I know.

638
00:33:22,680 --> 00:33:25,480
Speaker 4: How long is this madness gonna last? Keeping in mind,

639
00:33:25,520 --> 00:33:28,120
Speaker 4: they have like the whole of the educational structure in

640
00:33:28,160 --> 00:33:28,680
Speaker 4: this country.

641
00:33:30,480 --> 00:33:32,880
Speaker 3: Yeah, well, I became aware of a school where every

642
00:33:32,960 --> 00:33:35,440
Speaker 3: teacher is wearing a lanyard with their pronouns on it.

643
00:33:37,040 --> 00:33:43,320
Speaker 8: Whatever, beautiful, Jackie Clark, GISs time stop, Jack and Joe

644
00:33:43,640 --> 00:33:47,880
Speaker 8: live God go and if they don't give can they'll

645
00:33:48,000 --> 00:33:49,120
Speaker 8: be back tomorrow.

646
00:33:50,360 --> 00:33:53,120
Speaker 3: Here's your Oas for final thoughts, Joe Getty, let's get

647
00:33:53,120 --> 00:33:54,840
Speaker 3: a final thought from everybody on the crew to wrap

648
00:33:54,920 --> 00:33:55,600
Speaker 3: things up for the day.

649
00:33:55,680 --> 00:33:59,640
Speaker 4: There is our technical director, Michael Angelom, Michael laid us Off, removed.

650
00:33:59,360 --> 00:34:02,440
Speaker 9: Lent from my sharpened a pencil, gave a coworker a

651
00:34:02,560 --> 00:34:06,000
Speaker 9: nasty frown, watched a Great British baking show during hour

652
00:34:06,040 --> 00:34:08,960
Speaker 9: or two, and finally cut my string cheese into five

653
00:34:09,000 --> 00:34:09,720
Speaker 9: equal pieces.

654
00:34:10,000 --> 00:34:13,360
Speaker 2: These are the five things I did on my job today. Excellent.

655
00:34:13,560 --> 00:34:15,160
Speaker 2: I think you've justified your employment.

656
00:34:15,320 --> 00:34:17,719
Speaker 4: Elon Musk is going to heave you out of this place.

657
00:34:17,840 --> 00:34:20,960
Speaker 4: Katie Greener esteemed Newswoman. As a final thought, Katie.

658
00:34:20,920 --> 00:34:22,560
Speaker 3: Yes, my final thought is I got a lot of

659
00:34:22,840 --> 00:34:25,320
Speaker 3: entertainment out of Jack on Twitter this weekend, and I

660
00:34:25,520 --> 00:34:27,279
Speaker 3: just there's a lot of people wondering if you got

661
00:34:27,320 --> 00:34:27,719
Speaker 3: the vest.

662
00:34:28,560 --> 00:34:31,080
Speaker 2: No, I did not find that vest. What the hell

663
00:34:31,200 --> 00:34:34,480
Speaker 2: is that? That vest made a real statement. My statement

664
00:34:34,719 --> 00:34:37,840
Speaker 2: was I'm a dope. Uh No, it's funny. Jack. A

665
00:34:37,920 --> 00:34:39,040
Speaker 2: final thought, well.

666
00:34:38,960 --> 00:34:41,879
Speaker 3: It's some company that Target carries. It was the same

667
00:34:41,960 --> 00:34:45,800
Speaker 3: company that made that onesie denim thing, remember that I

668
00:34:45,880 --> 00:34:46,640
Speaker 3: wore last year?

669
00:34:47,080 --> 00:34:51,000
Speaker 2: Whatever that was. It was like the shortest onesie What

670
00:34:51,480 --> 00:34:53,239
Speaker 2: is that company? Who's that for? To the I have

671
00:34:53,280 --> 00:34:56,719
Speaker 2: a lot of Target clientele that need that stuff. Very odd.

672
00:34:59,000 --> 00:35:01,759
Speaker 4: My final thought is, is the only status symbol I

673
00:35:01,880 --> 00:35:07,719
Speaker 4: want is hiding away? Leave me alone. I don't have

674
00:35:07,960 --> 00:35:11,000
Speaker 4: to deal with you people, not you people in general.

675
00:35:11,360 --> 00:35:14,799
Speaker 4: The ability to disappear, that's all I ask. I don't

676
00:35:14,840 --> 00:35:18,239
Speaker 4: need that watch, or that those leather pants or that handbag.

677
00:35:18,360 --> 00:35:22,279
Speaker 4: Lord knows, I'm a myron. Why your status symbol is

678
00:35:22,320 --> 00:35:25,560
Speaker 4: being a misanthrope? Yeah, exactly, Like just to give me

679
00:35:25,640 --> 00:35:27,719
Speaker 4: a cabin in the woods. Okay, I'm poor now, I

680
00:35:27,880 --> 00:35:29,360
Speaker 4: just can I take a walk in the woods.

681
00:35:29,400 --> 00:35:29,840
Speaker 2: I'm happy.

682
00:35:30,120 --> 00:35:32,360
Speaker 3: Speaking of being poor, That fixed into my story for

683
00:35:32,440 --> 00:35:34,960
Speaker 3: the One More Thing podcast, which we'll record here soon.

684
00:35:35,640 --> 00:35:38,560
Speaker 3: Armstrong in Geeddy wrapping up another grueling four hour workday.

685
00:35:38,960 --> 00:35:41,080
Speaker 4: So if we haven't done enough, so many people, thanks,

686
00:35:41,080 --> 00:35:42,879
Speaker 4: so a little time go to armstrong in geeddy dot com.

687
00:35:43,000 --> 00:35:44,560
Speaker 2: Great hotlingks, drop us a.

688
00:35:44,560 --> 00:35:46,759
Speaker 4: Note, mail bag at armstrong in geddy dot com, pick

689
00:35:46,840 --> 00:35:51,000
Speaker 4: up some swag, Subscribe to the dang old podcasts. What

690
00:35:51,440 --> 00:35:53,600
Speaker 4: the link is right there at armstrong in geeddy dot com.

691
00:35:53,680 --> 00:35:56,040
Speaker 3: God, there's so many developing stories to stay on this

692
00:35:56,200 --> 00:35:59,399
Speaker 3: week Ukraine, Doge and many others see you tomorrow, God

693
00:35:59,440 --> 00:35:59,799
Speaker 3: bless them.

694
00:36:04,200 --> 00:36:07,480
Speaker 2: I'm Strong and Getty. I think your star spangled at

695
00:36:07,680 --> 00:36:08,239
Speaker 2: so good.

696
00:36:10,520 --> 00:36:12,279
Speaker 3: All better off, We're all better off, we're all better off,

697
00:36:12,320 --> 00:36:13,400
Speaker 3: and we're working together.

698
00:36:13,200 --> 00:36:16,960
Speaker 2: And everyone knows this thing. Yeah, no, Joe, let's go

699
00:36:17,120 --> 00:36:17,279
Speaker 2: with it.

700
00:36:17,719 --> 00:36:19,759
Speaker 3: Is it possible to leave Trump out of this and

701
00:36:20,000 --> 00:36:23,440
Speaker 3: just discuss the fact that Europe needs to get stronger and.

702
00:36:23,840 --> 00:36:26,239
Speaker 2: To be able to defend itself? Does Spain even have

703
00:36:26,400 --> 00:36:26,919
Speaker 2: a gun?

704
00:36:27,160 --> 00:36:27,320
Speaker 1: On that?

705
00:36:27,480 --> 00:36:30,320
Speaker 2: I note MS Strong and Getty