1
00:00:10,960 --> 00:00:15,200
Speaker 1: Broadcasting live from the Abraham Lincoln Radio Studio, the George

2
00:00:15,320 --> 00:00:19,919
Speaker 1: Washington Broadcast Center, Jack Armstrong and Joe, Katty Armstrong and

3
00:00:20,079 --> 00:00:21,599
Speaker 1: Jettie and he.

4
00:00:24,440 --> 00:00:25,000
Speaker 2: Arms Rong.

5
00:00:30,160 --> 00:00:35,400
Speaker 1: Are you terrified? It's a terrifle start to the day?

6
00:00:35,760 --> 00:00:36,400
Speaker 3: Terrified?

7
00:00:37,800 --> 00:00:39,479
Speaker 1: Live from studio.

8
00:00:39,200 --> 00:00:42,400
Speaker 4: Seats signor a dimly lit room deeper in the bowels

9
00:00:42,400 --> 00:00:44,400
Speaker 4: of the Armstrong and Getty Communications Compound.

10
00:00:44,400 --> 00:00:46,080
Speaker 1: Hey, it's a little Friday. Let's get a the.

11
00:00:46,159 --> 00:00:49,519
Speaker 4: Weekend starts now, all right, Today we're under the tutelage

12
00:00:49,560 --> 00:00:51,960
Speaker 4: of our general manager, the trade war.

13
00:00:53,760 --> 00:00:55,000
Speaker 3: Excusey poo poo.

14
00:00:55,160 --> 00:00:56,520
Speaker 1: Here's something I thing I'd like to throw it.

15
00:00:56,560 --> 00:00:58,800
Speaker 4: I think this would be helpful to everybody if you

16
00:00:59,000 --> 00:01:02,120
Speaker 4: watch any coverage of this terrifficing and it's a big deal,

17
00:01:02,280 --> 00:01:04,280
Speaker 4: it's it's it's a really really big deal. This is

18
00:01:04,280 --> 00:01:07,160
Speaker 4: not a blowing a story out of proportion thing. It's

19
00:01:07,200 --> 00:01:08,840
Speaker 4: a big story. It should be the lead story. It

20
00:01:08,840 --> 00:01:11,040
Speaker 4: should be talked about all day, maybe all week, maybe

21
00:01:11,040 --> 00:01:15,960
Speaker 4: all month. But any source that leads with the stock

22
00:01:16,000 --> 00:01:19,800
Speaker 4: markets already down three percent, anything that focuses on how

23
00:01:19,880 --> 00:01:23,120
Speaker 4: much the stock market's down in early hours or days,

24
00:01:24,120 --> 00:01:27,399
Speaker 4: then turn it off. They're not serious news brokers. They're

25
00:01:27,440 --> 00:01:30,200
Speaker 4: not They're not serious about discussing this because that's a

26
00:01:30,360 --> 00:01:32,319
Speaker 4: dumb way to look at it. There's nothing wrong with

27
00:01:32,360 --> 00:01:34,800
Speaker 4: including that in the coverage, but that's not the lead.

28
00:01:35,760 --> 00:01:37,440
Speaker 3: Well, it doesn't mean anything.

29
00:01:38,880 --> 00:01:43,160
Speaker 4: Do you have any ending if you can explain, Well,

30
00:01:43,160 --> 00:01:46,399
Speaker 4: you're right, right, yeah, yeah, I would argue it's going

31
00:01:46,480 --> 00:01:47,480
Speaker 4: to be more long term than that.

32
00:01:47,680 --> 00:01:51,600
Speaker 1: But this is I you know, it's funny.

33
00:01:51,600 --> 00:01:53,720
Speaker 4: I was going to say, in general about this story,

34
00:01:53,800 --> 00:02:00,160
Speaker 4: beware anyone oversimplifying it, because you will have Trump's a

35
00:02:00,200 --> 00:02:02,480
Speaker 4: monster and he's ruined the economy. The Wall Street Journal

36
00:02:02,560 --> 00:02:05,400
Speaker 4: editorial board, for instance, has not only wet its pants,

37
00:02:05,400 --> 00:02:09,480
Speaker 4: it's filled. It filled them pants. Why is pants plural

38
00:02:09,480 --> 00:02:11,800
Speaker 4: and shirt not? You got two arms?

39
00:02:11,880 --> 00:02:12,240
Speaker 1: Anyway?

40
00:02:12,280 --> 00:02:15,600
Speaker 4: Well, I slowed down. What did you just say? Pants?

41
00:02:16,120 --> 00:02:16,800
Speaker 1: Pants?

42
00:02:17,080 --> 00:02:18,600
Speaker 4: I bought a pair of pants, even though it's one

43
00:02:18,680 --> 00:02:21,560
Speaker 4: It's I didn't buy a pair hair. It's got two

44
00:02:21,600 --> 00:02:24,119
Speaker 4: legs because that's the way bipeds are built. Right, It's

45
00:02:24,120 --> 00:02:25,920
Speaker 4: why is it a pair? And why is it pants

46
00:02:26,000 --> 00:02:28,760
Speaker 4: and not a shirts? I got two arms, right, That's

47
00:02:28,800 --> 00:02:32,400
Speaker 4: what I'm saying. Huh So, anyway, the Wall Street Journalist

48
00:02:32,400 --> 00:02:37,040
Speaker 4: is filled. It's lower garment with its papoo is what

49
00:02:37,040 --> 00:02:41,360
Speaker 4: I'm hinting at U, saying that this is a disastrous, horrifying,

50
00:02:41,520 --> 00:02:44,760
Speaker 4: radical wild move and Trump will ruin the economy.

51
00:02:45,440 --> 00:02:47,200
Speaker 1: Uh, there are others who.

52
00:02:47,040 --> 00:02:51,000
Speaker 4: Are a street journal who's in love with globalism and

53
00:02:51,040 --> 00:02:53,040
Speaker 4: anything that makes giant corporations richer.

54
00:02:53,160 --> 00:02:56,160
Speaker 1: Sure they're not worried about you.

55
00:02:56,960 --> 00:03:00,320
Speaker 4: Meanwhile, on the MAGA right, you have people saying just

56
00:03:00,480 --> 00:03:05,080
Speaker 4: ridiculous things about, hey, products will cost the same, the

57
00:03:05,200 --> 00:03:09,160
Speaker 4: jobs will just be American, ignoring the fact that wait

58
00:03:09,160 --> 00:03:13,840
Speaker 4: a minute, my labor costs just sex tuppled. How am

59
00:03:13,840 --> 00:03:16,799
Speaker 4: I going to keep my prices the same? It's because well,

60
00:03:16,840 --> 00:03:19,120
Speaker 4: tariffs will be so high. So it's there's there's a

61
00:03:19,160 --> 00:03:22,480
Speaker 4: bit to untangle. But untangle it we will. It's a

62
00:03:22,520 --> 00:03:24,640
Speaker 4: pair of socks and a pair of gloves, but those

63
00:03:24,680 --> 00:03:26,880
Speaker 4: are two separate items. You can lose one glove and

64
00:03:26,919 --> 00:03:28,520
Speaker 4: still have the other ones. You can hold one in

65
00:03:28,560 --> 00:03:35,120
Speaker 4: each hand. Yeah, back to the tariff talk a pant.

66
00:03:36,200 --> 00:03:39,160
Speaker 4: Here's another thing that I think is misleading that you're

67
00:03:39,200 --> 00:03:41,960
Speaker 4: hearing on the want you to be scared channels, And

68
00:03:41,960 --> 00:03:42,920
Speaker 4: maybe you should be scared.

69
00:03:42,920 --> 00:03:44,600
Speaker 1: I don't I'm not claiming it's.

70
00:03:45,080 --> 00:03:47,280
Speaker 4: All the people I tend to like on stuff like

71
00:03:47,320 --> 00:03:52,920
Speaker 4: this think it's a horrible idea. So but the hitting

72
00:03:52,960 --> 00:03:56,360
Speaker 4: you with the total number, the percentage of the tariff,

73
00:03:57,200 --> 00:04:00,560
Speaker 4: and leaving out the fact that, for instance, of today,

74
00:04:00,800 --> 00:04:03,640
Speaker 4: fifty four percent total tariff or they don't say total,

75
00:04:03,760 --> 00:04:07,120
Speaker 4: they just say fifty four percent now on China, which

76
00:04:07,120 --> 00:04:09,000
Speaker 4: sounds like an extraordinary number. Do you think, geez, my

77
00:04:09,000 --> 00:04:11,320
Speaker 4: iPhone's going to cost three thousand dollars and everything like that.

78
00:04:11,400 --> 00:04:14,280
Speaker 4: We're already at like thirty percent on most stuffs. We've

79
00:04:14,400 --> 00:04:17,039
Speaker 4: added another twenty some percent. So it's a little misleading

80
00:04:17,240 --> 00:04:19,200
Speaker 4: to hit you at the fifty four percent. We've been

81
00:04:19,200 --> 00:04:21,520
Speaker 4: living with another pretty big number for quite a while,

82
00:04:21,800 --> 00:04:24,880
Speaker 4: several years, right right. And you know what's funny, I'm

83
00:04:24,920 --> 00:04:26,960
Speaker 4: having so much trouble finding this. I assumed it would

84
00:04:26,960 --> 00:04:29,200
Speaker 4: be omnipresent. I need to have in front of me

85
00:04:30,080 --> 00:04:35,600
Speaker 4: the eight pages of tariff figures that Trump was holding

86
00:04:35,680 --> 00:04:38,240
Speaker 4: up and touting yesterday. And you may have seen on

87
00:04:38,320 --> 00:04:41,560
Speaker 4: conservative news outlets pointing out and again, I apologize that

88
00:04:41,560 --> 00:04:42,800
Speaker 4: I don't have the numbers in front of me. I

89
00:04:42,839 --> 00:04:45,320
Speaker 4: will in just a couple of minutes that, for instance,

90
00:04:45,440 --> 00:04:48,080
Speaker 4: Vietnam from which we get a great deal of our

91
00:04:48,160 --> 00:04:50,080
Speaker 4: manufactured items.

92
00:04:50,440 --> 00:04:52,320
Speaker 1: Is Nike. Most of your Nikes are made in vietnamme,

93
00:04:52,400 --> 00:04:53,120
Speaker 1: that's correct. Yeah.

94
00:04:53,160 --> 00:04:58,839
Speaker 4: And there's Sri Lanka and several other Southeast Asian countries, Malaysia, Thailand.

95
00:05:00,040 --> 00:05:02,880
Speaker 4: We have been charging them next to no tariff, and

96
00:05:02,920 --> 00:05:07,000
Speaker 4: they have been charging US sixty five seventy five, eighty

97
00:05:07,040 --> 00:05:11,400
Speaker 4: eight percent in the case of India. And you look

98
00:05:11,440 --> 00:05:14,880
Speaker 4: at that, and you say, and you hear somebody say

99
00:05:15,040 --> 00:05:19,080
Speaker 4: Trump started a trade war. There was already a trade war.

100
00:05:19,320 --> 00:05:22,000
Speaker 4: We had just gone ahead and conceded all the ground.

101
00:05:22,839 --> 00:05:26,640
Speaker 4: This is the beginning of a process, right, Okay, this

102
00:05:26,680 --> 00:05:29,400
Speaker 4: is where I'm perfectly willing to get into my ignorance

103
00:05:29,440 --> 00:05:31,400
Speaker 4: portion of this. I've never claimed to be an expert

104
00:05:31,440 --> 00:05:32,159
Speaker 4: in economics.

105
00:05:32,320 --> 00:05:37,960
Speaker 1: See student over here, smartest horse on the whole trade

106
00:05:37,960 --> 00:05:38,360
Speaker 1: war thing.

107
00:05:38,440 --> 00:05:40,080
Speaker 4: So when I hear people, a lot of the people

108
00:05:40,080 --> 00:05:42,119
Speaker 4: that I really like politically say I'm a free trader

109
00:05:42,120 --> 00:05:43,640
Speaker 4: to the bone, I'm a free trader to the bone,

110
00:05:43,680 --> 00:05:46,320
Speaker 4: free trade, yeah all the way. Okay, if Vietnam's got

111
00:05:46,360 --> 00:05:50,160
Speaker 4: eighty percent tariffs on us, then what does how does

112
00:05:50,160 --> 00:05:53,120
Speaker 4: that factor? Indo, You're a free trader. Well, it's dishonest.

113
00:05:54,839 --> 00:06:00,000
Speaker 4: They have accepted the post WW two ground as it lies,

114
00:06:01,000 --> 00:06:03,640
Speaker 4: free trade on that ground on that basis because you

115
00:06:03,680 --> 00:06:08,279
Speaker 4: can still make tremendous amounts of money because you're having

116
00:06:08,520 --> 00:06:16,359
Speaker 4: your manufacturing done over there for this gigantic economic market.

117
00:06:17,400 --> 00:06:20,400
Speaker 4: Vietnam is not a gigantic economic market. So if I'm

118
00:06:20,440 --> 00:06:23,920
Speaker 4: struggling to export to Vietnam, it doesn't matter. I'm selling

119
00:06:24,480 --> 00:06:27,920
Speaker 4: to America primarily ear Europe or whatever. I'm not trying

120
00:06:27,960 --> 00:06:30,920
Speaker 4: to be a smarty pants, got you ha ha guy.

121
00:06:31,040 --> 00:06:34,520
Speaker 4: I honestly don't understand this, because I've heard multiple people

122
00:06:34,520 --> 00:06:37,840
Speaker 4: say this recently. Their economic philosophy is free trade. Well,

123
00:06:37,880 --> 00:06:41,040
Speaker 4: it sounds to me like these other countries we deal with,

124
00:06:41,320 --> 00:06:44,000
Speaker 4: they've been tarifying the crap out of US. So where

125
00:06:44,000 --> 00:06:46,160
Speaker 4: does the free trade come in. Is there much free

126
00:06:46,160 --> 00:06:49,839
Speaker 4: trade going on? Yeah, you want free trade into the

127
00:06:49,960 --> 00:06:53,479
Speaker 4: United So that's what they mean. Yes, okay, Yeah, you

128
00:06:53,640 --> 00:06:57,520
Speaker 4: just want this giant juggernaut of a wonderful economy to

129
00:06:57,680 --> 00:07:01,200
Speaker 4: continue to accept good manufactured cheaply.

130
00:07:01,040 --> 00:07:01,680
Speaker 1: In the third World.

131
00:07:01,680 --> 00:07:03,839
Speaker 4: I get that argument, we used that yesterday. I forget

132
00:07:03,880 --> 00:07:06,200
Speaker 4: what thinker I like who said, why is every president

133
00:07:06,200 --> 00:07:10,000
Speaker 4: Republican or Democrat coming to office and take hold of

134
00:07:10,040 --> 00:07:12,480
Speaker 4: the world's most successful economy and think we've got to

135
00:07:12,600 --> 00:07:15,360
Speaker 4: change things, right, Yeah, which is a pretty good question.

136
00:07:17,240 --> 00:07:20,400
Speaker 4: Like I heard the stat on a japan who teariffs

137
00:07:20,400 --> 00:07:24,600
Speaker 4: the heck out of cars coming from US, and eighty

138
00:07:24,680 --> 00:07:28,120
Speaker 4: four percent of their vehicles are all Japanese made, right,

139
00:07:30,040 --> 00:07:34,440
Speaker 4: It's it's this is true of so many things, especially economically,

140
00:07:35,040 --> 00:07:39,520
Speaker 4: the post WW two era. And forgive me if you've

141
00:07:39,520 --> 00:07:43,640
Speaker 4: heard this screen many times, in which we stood astride

142
00:07:43,680 --> 00:07:47,760
Speaker 4: the globe as the only intact major economy. Europe was

143
00:07:47,800 --> 00:07:51,640
Speaker 4: in ruins, Asia was living in huts, and and so we,

144
00:07:52,200 --> 00:07:54,240
Speaker 4: in order to get the world up and running, partly

145
00:07:54,240 --> 00:07:56,240
Speaker 4: so they would be a good market for our goods,

146
00:07:57,000 --> 00:07:59,480
Speaker 4: accepted a certain amount of protectionism. Otherwise we would have

147
00:07:59,480 --> 00:08:01,600
Speaker 4: overwhelmed and they never would have gotten up on their feet.

148
00:08:02,400 --> 00:08:05,960
Speaker 4: Did I just say, feats Back to our theme anyway, So,

149
00:08:06,320 --> 00:08:10,440
Speaker 4: like so many other things that lasted for a very

150
00:08:10,560 --> 00:08:13,560
Speaker 4: very long time past the point, and I'm looking at you, China,

151
00:08:14,040 --> 00:08:16,920
Speaker 4: to some extent, India, Vietnam, all those countries, they're now

152
00:08:17,040 --> 00:08:22,160
Speaker 4: up and running economically speaking. They don't need a toddler

153
00:08:22,240 --> 00:08:27,400
Speaker 4: seat anymore. And the problem is, while the corporations and

154
00:08:27,440 --> 00:08:31,880
Speaker 4: corporate boards and stockholders, including myself, have been making lots

155
00:08:31,880 --> 00:08:34,720
Speaker 4: and lots of money on American companies profits because they've

156
00:08:34,720 --> 00:08:37,000
Speaker 4: offshored their labor and saved a ton of money, made

157
00:08:37,040 --> 00:08:41,080
Speaker 4: goods cheaper for everybody, the American worker has taken the

158
00:08:41,080 --> 00:08:43,840
Speaker 4: short end of that stick. And the argument from the

159
00:08:43,840 --> 00:08:48,680
Speaker 4: so called free traders has always been, well, you know,

160
00:08:48,720 --> 00:08:50,720
Speaker 4: we're all going to benefit rising tide lifts, so ali

161
00:08:50,720 --> 00:08:53,160
Speaker 4: boats blah blah blah blah. But they never talked about

162
00:08:53,200 --> 00:08:57,560
Speaker 4: the incredible tariffs on US goods being exported, and so

163
00:08:57,679 --> 00:09:00,600
Speaker 4: the global export market has been really stunt it for us.

164
00:09:00,840 --> 00:09:04,120
Speaker 4: That's part of the reason we've lost manufacturing jobs. But

165
00:09:04,120 --> 00:09:08,040
Speaker 4: the big corporations, they have free movement globally. They can

166
00:09:08,080 --> 00:09:10,559
Speaker 4: move any of their inputs and outputs to wherever they

167
00:09:10,559 --> 00:09:13,120
Speaker 4: want within reason shipping blah blah blah.

168
00:09:13,160 --> 00:09:17,040
Speaker 1: But the American worker can't. And so it is time.

169
00:09:17,120 --> 00:09:22,320
Speaker 4: It's far past time to reset global trade in a

170
00:09:22,360 --> 00:09:25,400
Speaker 4: way that isn't putting everybody put us in.

171
00:09:25,440 --> 00:09:26,679
Speaker 1: A toddler seat.

172
00:09:27,440 --> 00:09:30,320
Speaker 4: I got another question that only a dumb guy would ask.

173
00:09:30,360 --> 00:09:32,079
Speaker 4: So I'm the perfect man for the job, but I'll

174
00:09:32,120 --> 00:09:34,200
Speaker 4: do it after we start the official the show. Officially,

175
00:09:34,480 --> 00:09:37,359
Speaker 4: I'm Jack Armstrong. He's Joe Getty on this It is Thursday,

176
00:09:37,520 --> 00:09:40,440
Speaker 4: April third, the year twenty twenty five. We are armstrong

177
00:09:40,480 --> 00:09:42,800
Speaker 4: in getting we approve of this program thirty five percent

178
00:09:42,880 --> 00:09:44,280
Speaker 4: tariff if we start the show late.

179
00:09:44,400 --> 00:09:45,760
Speaker 1: Oh jeez, I didn't know that.

180
00:09:45,840 --> 00:09:46,080
Speaker 5: I know.

181
00:09:46,600 --> 00:09:50,080
Speaker 4: Here we go officially according the FCC rules, rags at mark.

182
00:09:50,320 --> 00:09:53,800
Speaker 2: For decades, our country has been looted, pillage, raped, and

183
00:09:53,920 --> 00:09:57,520
Speaker 2: plundered by nations near and far, both friend and foe.

184
00:09:57,880 --> 00:10:01,080
Speaker 2: Like our country and its taxpayers been ripped off for

185
00:10:01,120 --> 00:10:04,760
Speaker 2: more than fifty years. But it is not going to

186
00:10:05,120 --> 00:10:06,160
Speaker 2: happen anymore.

187
00:10:06,320 --> 00:10:07,280
Speaker 1: It's not going to happen.

188
00:10:10,720 --> 00:10:12,280
Speaker 6: So yeah, and we'll go through the list of the

189
00:10:12,320 --> 00:10:14,200
Speaker 6: different countries and all that sort of stuff, and some

190
00:10:14,240 --> 00:10:16,400
Speaker 6: of his charts is pretty interesting, and like I said,

191
00:10:16,720 --> 00:10:19,839
Speaker 6: this is for real giant news story, like what's an

192
00:10:19,840 --> 00:10:24,320
Speaker 6: iPhone gonna cost with the added multiple percentage tariffs thrown

193
00:10:24,320 --> 00:10:24,640
Speaker 6: on there.

194
00:10:24,880 --> 00:10:26,840
Speaker 1: But here's one of my questions.

195
00:10:26,880 --> 00:10:29,320
Speaker 4: So two of my favorite products in the world, Levi's

196
00:10:29,360 --> 00:10:33,439
Speaker 4: jeans and Converse shoes. I've got pairs of Levi's and

197
00:10:33,480 --> 00:10:35,400
Speaker 4: Converse that were made in the United States, because it

198
00:10:35,440 --> 00:10:37,559
Speaker 4: wasn't that long ago that Chucks were made in the

199
00:10:37,640 --> 00:10:41,880
Speaker 4: United States, think until the nineties. I don't know when

200
00:10:41,920 --> 00:10:45,480
Speaker 4: Levi's stopped early two thousands. Why was it profitable to

201
00:10:45,520 --> 00:10:47,920
Speaker 4: make Levi's in the United States and Converse in the

202
00:10:48,040 --> 00:10:49,880
Speaker 4: United States up until not that long ago?

203
00:10:50,040 --> 00:10:52,720
Speaker 1: And then it and then they didn't.

204
00:10:54,440 --> 00:10:58,560
Speaker 4: A handful of things technical and infrastructure capability is really

205
00:10:58,679 --> 00:10:59,960
Speaker 4: really risen up in the third.

206
00:10:59,840 --> 00:11:02,560
Speaker 1: World world in the last thirty years, say a lot.

207
00:11:02,679 --> 00:11:05,439
Speaker 1: In both cases, the quality went down a lot.

208
00:11:05,720 --> 00:11:10,720
Speaker 4: Yeah, yeah, and shipping efficiencies increased too. But right, there's

209
00:11:10,720 --> 00:11:16,040
Speaker 4: been a long running experiment because it's all about profit margin.

210
00:11:17,360 --> 00:11:20,120
Speaker 4: Not to get too complicated with this crap because it's

211
00:11:20,160 --> 00:11:23,840
Speaker 4: boring for one thing, but there's a long running experiment.

212
00:11:25,080 --> 00:11:29,880
Speaker 4: Can we make twenty dollars on one hundred dollars product?

213
00:11:30,160 --> 00:11:33,040
Speaker 4: What if we really lower our costs in the Third

214
00:11:33,080 --> 00:11:36,839
Speaker 4: World and sell a seventy dollars product, but instead of

215
00:11:36,880 --> 00:11:37,600
Speaker 4: making twenty.

216
00:11:37,360 --> 00:11:39,959
Speaker 1: Dollars, we're making twenty one dollars on it.

217
00:11:40,520 --> 00:11:45,160
Speaker 4: Will Americans accept that seventy dollars pair of Converse shoes

218
00:11:45,360 --> 00:11:47,440
Speaker 4: and the answer has been to a large extent, yes,

219
00:11:47,520 --> 00:11:51,079
Speaker 4: all right, So some of it is cultural, I think,

220
00:11:51,440 --> 00:11:55,559
Speaker 4: and this doesn't get discussed enough. The idea that there

221
00:11:55,640 --> 00:11:57,920
Speaker 4: used to be like a great pride in Levi's were

222
00:11:58,000 --> 00:12:01,760
Speaker 4: really high quality genes. Converts were I don't know how

223
00:12:01,880 --> 00:12:03,600
Speaker 4: quality they were, but they were better than they are now,

224
00:12:03,640 --> 00:12:06,040
Speaker 4: I guarantee because I've had both kinds. But Levi's were

225
00:12:06,080 --> 00:12:09,040
Speaker 4: really high quality jeens and like a lot of high qualities.

226
00:12:09,120 --> 00:12:11,599
Speaker 4: What was the American TV company, Magnavox or whatever it was,

227
00:12:11,640 --> 00:12:15,720
Speaker 4: They made high quality. But I think there was a

228
00:12:15,760 --> 00:12:17,840
Speaker 4: belief that you got to make a real high quality product,

229
00:12:18,520 --> 00:12:22,760
Speaker 4: and then everybody found out. Unfortunately, as I've complained about

230
00:12:22,760 --> 00:12:25,280
Speaker 4: for years, a lot of people are willing to buy crap.

231
00:12:25,840 --> 00:12:29,600
Speaker 4: Mostly by jeans are crap. They're just a crappy product.

232
00:12:29,720 --> 00:12:33,720
Speaker 4: They're really cheap, but they're crap. H They sell the

233
00:12:33,800 --> 00:12:36,240
Speaker 4: premium brand. I don't hope their lawyers aren't up yet.

234
00:12:36,960 --> 00:12:38,320
Speaker 4: There's an eddatorial opinion.

235
00:12:38,440 --> 00:12:38,800
Speaker 1: Damn it.

236
00:12:38,840 --> 00:12:41,120
Speaker 4: I'm not allowed to review a product as they just

237
00:12:41,200 --> 00:12:43,280
Speaker 4: chose a guy in the media and I'm reviewing the

238
00:12:43,280 --> 00:12:46,400
Speaker 4: product is crap. They make a premium brand that is

239
00:12:46,520 --> 00:12:49,240
Speaker 4: like Levi's used to be not that many years ago,

240
00:12:49,320 --> 00:12:51,439
Speaker 4: and they're real expensive, but they're they're high quality, they're

241
00:12:51,480 --> 00:12:51,800
Speaker 4: real good.

242
00:12:51,840 --> 00:12:52,520
Speaker 1: They can make them.

243
00:12:52,640 --> 00:12:55,559
Speaker 4: They just figured out people are willing to buy tissue

244
00:12:55,600 --> 00:12:58,920
Speaker 4: paper pants that will fall apart for a lower price,

245
00:12:59,480 --> 00:13:02,319
Speaker 4: and it don't Speaking of this society, that all boils down.

246
00:13:02,320 --> 00:13:04,880
Speaker 4: I think to the fact that we're a immediate gratification

247
00:13:05,040 --> 00:13:09,000
Speaker 4: society in a way that was absolutely not true thirty

248
00:13:09,040 --> 00:13:09,960
Speaker 4: forty fifty years ago.

249
00:13:10,040 --> 00:13:11,920
Speaker 1: Cultural thing. I wonder how long it would take to

250
00:13:11,920 --> 00:13:15,960
Speaker 1: get out of that. Ah, yeah, or ten dollars.

251
00:13:16,120 --> 00:13:19,079
Speaker 4: You should pay one hundred dollars for a toaster and

252
00:13:19,640 --> 00:13:21,160
Speaker 4: you have it for the next thirty years. You give

253
00:13:21,200 --> 00:13:23,720
Speaker 4: it to your kids when you croak, right, but you

254
00:13:23,800 --> 00:13:25,839
Speaker 4: don't you pay like I do. You pay twenty five

255
00:13:25,880 --> 00:13:28,160
Speaker 4: dollars for a toaster and it's crap, the handle breaks

256
00:13:28,160 --> 00:13:29,439
Speaker 4: off eventually or whatever.

257
00:13:29,559 --> 00:13:32,640
Speaker 1: Yeah, you're renting it. We should, We should get on.

258
00:13:32,720 --> 00:13:34,319
Speaker 4: We got to Katie's headlines on the way, and a

259
00:13:34,320 --> 00:13:35,520
Speaker 4: lot more than I'd like to hear from you on

260
00:13:35,600 --> 00:13:38,599
Speaker 4: these topics. Text line four one, five, two nine five KFTC.

261
00:13:42,040 --> 00:13:43,840
Speaker 4: What do you guys talk about on your show? I've

262
00:13:43,840 --> 00:13:48,920
Speaker 4: never heard it in tariff's mostly mostly talk about tariff, Yeah,

263
00:13:49,160 --> 00:13:51,640
Speaker 4: tax rates and tariffs mostly, I mean in general. Yea

264
00:13:51,840 --> 00:13:55,400
Speaker 4: very fun I was very maga last segment. The other

265
00:13:55,600 --> 00:13:57,160
Speaker 4: side of the coin coming.

266
00:13:57,040 --> 00:13:57,719
Speaker 1: Up a little bit later.

267
00:13:57,720 --> 00:13:59,679
Speaker 4: There's another side of the coin, of course, there is,

268
00:14:00,120 --> 00:14:01,800
Speaker 4: just you know, but we'll talk about that then.

269
00:14:01,960 --> 00:14:03,320
Speaker 1: I let's figure out who's reporting what.

270
00:14:03,360 --> 00:14:07,160
Speaker 4: It's the lead story with the delightful Katie Green Katie delighted.

271
00:14:07,600 --> 00:14:10,000
Speaker 7: Oh thank you, well, because it's of all that anybody's

272
00:14:10,040 --> 00:14:14,840
Speaker 7: talking about ABC. World leaders blast Trump tariffs as markets slump.

273
00:14:15,600 --> 00:14:19,280
Speaker 4: Yeah, right, world leaders, fine, Yeah, it would be more

274
00:14:19,280 --> 00:14:22,800
Speaker 4: fair if everybody included what Joe mentioned, what Trump mentioned yesterday.

275
00:14:22,840 --> 00:14:24,640
Speaker 1: These other countries have been tariff in the hell out

276
00:14:24,640 --> 00:14:28,760
Speaker 1: of US forever. So how many of you knew that?

277
00:14:28,960 --> 00:14:32,280
Speaker 4: For one thing, European Union, for instance, thirty nine percent

278
00:14:32,360 --> 00:14:36,000
Speaker 4: tariff's chart on the US thirty nine percent. We're bringing

279
00:14:36,040 --> 00:14:38,440
Speaker 4: them up now to twenty percent.

280
00:14:38,400 --> 00:14:41,840
Speaker 1: Oh half of what they're charging. It's a trade war.

281
00:14:43,640 --> 00:14:44,960
Speaker 3: From Bridbart dot Com.

282
00:14:45,400 --> 00:14:51,200
Speaker 7: Hiring accelerates in March despite tariff hysteria, adding one hundred

283
00:14:51,240 --> 00:14:53,400
Speaker 7: and fifty five thousand jobs.

284
00:14:53,760 --> 00:14:54,760
Speaker 1: Awesome wow.

285
00:14:56,200 --> 00:15:00,240
Speaker 7: From Fox News Columbia University students chain themselves. It's a

286
00:15:00,280 --> 00:15:04,000
Speaker 7: gate in them there up Khalil's detention by eyes.

287
00:15:04,080 --> 00:15:06,120
Speaker 1: Add another chain that they don't have the key to.

288
00:15:06,360 --> 00:15:10,200
Speaker 4: Yeah, confiscate their keys. Good luck, Good luck kids. Hey,

289
00:15:10,240 --> 00:15:12,360
Speaker 4: you came here to learn, You're about to learn something. Yeah,

290
00:15:12,400 --> 00:15:16,040
Speaker 4: we'll come back and check on your bones in six months.

291
00:15:16,320 --> 00:15:19,760
Speaker 7: From the New York Times, Amazon said to make bid

292
00:15:19,840 --> 00:15:21,400
Speaker 7: to buy TikTok.

293
00:15:21,120 --> 00:15:22,240
Speaker 3: In the United States.

294
00:15:22,280 --> 00:15:26,440
Speaker 4: Really, okay, we're wondering about how what kind of last

295
00:15:26,440 --> 00:15:30,560
Speaker 4: minute deal could happen with TikTok, the world's second richest man, who,

296
00:15:30,600 --> 00:15:33,960
Speaker 4: for whatever reason, doesn't get labeled with that. You're not

297
00:15:34,000 --> 00:15:35,880
Speaker 4: evil if you're the second richest man in the world.

298
00:15:35,920 --> 00:15:37,480
Speaker 4: Only if you're the richest man in the world, but

299
00:15:37,520 --> 00:15:39,320
Speaker 4: the second richest man in the world thinking how I

300
00:15:39,360 --> 00:15:41,120
Speaker 4: can afford to buy TikTok and make a ton of

301
00:15:41,120 --> 00:15:42,760
Speaker 4: money off this thing? Boy, if you want to see

302
00:15:42,760 --> 00:15:45,720
Speaker 4: an epic poos storm, you got the tariff thing going on,

303
00:15:47,120 --> 00:15:53,640
Speaker 4: we bomb Iran and TikTok goes dark. You've got Wall

304
00:15:53,800 --> 00:15:57,680
Speaker 4: Street screaming its head off, You've got young wasting their

305
00:15:57,720 --> 00:16:01,800
Speaker 4: time America screaming it's head off. And then you know

306
00:16:01,880 --> 00:16:04,200
Speaker 4: the left, and some of the said, well, so let's

307
00:16:04,400 --> 00:16:06,280
Speaker 4: maybe we have wait a week on some of this.

308
00:16:07,280 --> 00:16:08,840
Speaker 3: And this is written as a SOB story.

309
00:16:08,880 --> 00:16:12,760
Speaker 7: From the Washington Post, a trans girl was banned from

310
00:16:12,760 --> 00:16:16,440
Speaker 7: her track team. Now she's competing with the boys.

311
00:16:16,560 --> 00:16:19,080
Speaker 4: Oh so a boy is competing with the boys. That

312
00:16:19,200 --> 00:16:24,800
Speaker 4: is heartbreaking. Wow, shut up, WAPO, cut the crap. Huh,

313
00:16:24,840 --> 00:16:27,520
Speaker 4: I'm going back to my old slogan didn't really catch on.

314
00:16:27,640 --> 00:16:28,440
Speaker 1: I'm gonna try again.

315
00:16:29,080 --> 00:16:31,720
Speaker 3: Brace Yourselves From The New York Post.

316
00:16:32,600 --> 00:16:38,640
Speaker 7: Mom mortified when Toddler eats cremated grandfather's ashes.

317
00:16:38,880 --> 00:16:43,120
Speaker 4: Oh, well, you know, you know that sounds like a

318
00:16:43,240 --> 00:16:45,840
Speaker 4: ritual you would do in some you know, other culture

319
00:16:45,880 --> 00:16:48,520
Speaker 4: that we find beautiful and mysterious. First Blush was discussing

320
00:16:48,600 --> 00:16:50,360
Speaker 4: it's second Blush, it's kind of cool.

321
00:16:50,440 --> 00:16:52,880
Speaker 1: Circle of lifeish, it's.

322
00:16:52,760 --> 00:16:55,520
Speaker 4: Gonna have some odd poops though for a while. Oh

323
00:16:55,600 --> 00:16:56,680
Speaker 4: will Will Junior.

324
00:16:58,920 --> 00:17:04,040
Speaker 7: Finally, the Babylon Bee Corey Booker hosts twenty five hour

325
00:17:04,160 --> 00:17:06,720
Speaker 7: PSA on the dangers of crystal meth.

326
00:17:07,880 --> 00:17:11,200
Speaker 4: Boy, did that little stunt do nothing? We didn't mention

327
00:17:11,280 --> 00:17:14,200
Speaker 4: it shouldn't have been mentioned. Not mentionable. Joe's going to

328
00:17:14,240 --> 00:17:15,119
Speaker 4: talk about the other side of.

329
00:17:15,119 --> 00:17:17,720
Speaker 1: The tariff thing. Yeah, there, it could be a downside

330
00:17:17,720 --> 00:17:19,239
Speaker 1: among other things on the way. I hope you can

331
00:17:19,280 --> 00:17:23,000
Speaker 1: stay here, armstrong and getty.

332
00:17:24,720 --> 00:17:28,960
Speaker 8: My advice to every country right now is, do not retaliate,

333
00:17:29,359 --> 00:17:32,560
Speaker 8: Sit back, take it in, let's see how it goes,

334
00:17:32,640 --> 00:17:36,320
Speaker 8: because if you retaliate, there will be escalation if you

335
00:17:36,400 --> 00:17:37,400
Speaker 8: don't retaliate.

336
00:17:37,760 --> 00:17:39,879
Speaker 1: This is the high water mark. I like it. I

337
00:17:39,960 --> 00:17:40,560
Speaker 1: like a threat.

338
00:17:41,560 --> 00:17:47,160
Speaker 4: So the Mirroweeney's the big tariffs have been set by Trump.

339
00:17:48,440 --> 00:17:53,680
Speaker 4: A trade war has begun, reversing the trend of the

340
00:17:53,720 --> 00:17:58,320
Speaker 4: last seventy years post WW two, and nobody wants to admit,

341
00:17:58,359 --> 00:18:01,280
Speaker 4: as we were discussing earlier, that the other countries have

342
00:18:01,320 --> 00:18:02,280
Speaker 4: been tariffing.

343
00:18:01,920 --> 00:18:05,159
Speaker 1: The hell out of us. We just haven't reciprocated.

344
00:18:05,840 --> 00:18:10,359
Speaker 4: And Trump, and I agree with him, has said, hey,

345
00:18:10,600 --> 00:18:14,280
Speaker 4: the era for that is over. We need reciprocal tariff.

346
00:18:14,280 --> 00:18:16,160
Speaker 4: You're gonna hit us with twenty percent, We're gonna hit

347
00:18:16,160 --> 00:18:20,679
Speaker 4: you with something not even twenty percent, and it's discounted,

348
00:18:20,680 --> 00:18:24,800
Speaker 4: as he called it. And it's indisputable that we've been

349
00:18:24,800 --> 00:18:28,560
Speaker 4: sending American jobs overseas and buying cheap foreign crap and

350
00:18:28,600 --> 00:18:32,840
Speaker 4: putting our manufacturers out of business. Well, the numbers he

351
00:18:32,880 --> 00:18:36,160
Speaker 4: hit with was yesterday were Jesus, did my tongue get

352
00:18:36,160 --> 00:18:40,480
Speaker 4: cut off? The numbers he hit us with yesterday were

353
00:18:40,520 --> 00:18:42,240
Speaker 4: lower than people were expecting, were they not.

354
00:18:42,960 --> 00:18:44,400
Speaker 1: That's why I saw on a bunch of headlines.

355
00:18:44,680 --> 00:18:47,919
Speaker 4: Yes, yeah, yeah, And we'll get into the actual numbers

356
00:18:48,600 --> 00:18:56,679
Speaker 4: the anti MAGA point of view in summary, and this

357
00:18:56,800 --> 00:18:57,960
Speaker 4: is also correct.

358
00:18:58,240 --> 00:19:03,560
Speaker 1: He's hitler. Not that part that's not correct. The argument

359
00:19:03,640 --> 00:19:04,080
Speaker 1: is that.

360
00:19:05,760 --> 00:19:09,760
Speaker 4: It would take a very long time of very consistent

361
00:19:10,400 --> 00:19:14,800
Speaker 4: higher tariffs to revive American manufacturing in the way Trump

362
00:19:14,840 --> 00:19:15,120
Speaker 4: and JD.

363
00:19:15,280 --> 00:19:16,879
Speaker 1: Vans are talking about, for instance.

364
00:19:17,359 --> 00:19:21,920
Speaker 4: And that's because it takes a corporation a long time

365
00:19:22,200 --> 00:19:24,560
Speaker 4: to plan a new plant, never mind to build a

366
00:19:24,640 --> 00:19:27,520
Speaker 4: damn thing, finance it and get it up and run

367
00:19:27,560 --> 00:19:30,600
Speaker 4: it into actually producing, and then there's a certain time

368
00:19:30,920 --> 00:19:32,960
Speaker 4: before it's profitable because you'd poured so much.

369
00:19:32,880 --> 00:19:34,320
Speaker 1: Money into and your prices would be higher.

370
00:19:34,359 --> 00:19:38,359
Speaker 4: If Converse brought making Converse shoes back to the United States,

371
00:19:38,880 --> 00:19:41,040
Speaker 4: it'd be the all the things you just mentioned. Yeah,

372
00:19:41,040 --> 00:19:44,439
Speaker 4: I'm gonna build a plant somewherewhere break ground, environmental reviews,

373
00:19:44,520 --> 00:19:46,640
Speaker 4: all those things. Build a plant and then start selling

374
00:19:46,680 --> 00:19:50,120
Speaker 4: them and they would cost more. So can it work

375
00:19:50,160 --> 00:19:53,560
Speaker 4: out and exactly the way Trump is promising. That's a

376
00:19:53,640 --> 00:19:58,040
Speaker 4: tough sled, really really tough. But that doesn't mean it's

377
00:19:58,119 --> 00:20:03,359
Speaker 4: all a bad idea. Again, everybody else has had training

378
00:20:03,359 --> 00:20:07,160
Speaker 4: wheels post WW two. Take a look at China, India,

379
00:20:07,840 --> 00:20:11,400
Speaker 4: you know, Vietnam. We've mentioned the European Union. For god's sake,

380
00:20:11,920 --> 00:20:15,560
Speaker 4: it's not nineteen forty five. They seem to have rebuilt.

381
00:20:16,080 --> 00:20:19,679
Speaker 4: So it's time for a new trade structure. Either of

382
00:20:19,720 --> 00:20:23,439
Speaker 4: the Honduras. I'm looking at you. So let's get some

383
00:20:23,560 --> 00:20:27,439
Speaker 4: arguments for and against and help you understand the different

384
00:20:27,440 --> 00:20:33,639
Speaker 4: points of view. There is right on both sides. And

385
00:20:34,720 --> 00:20:38,200
Speaker 4: you know, a lot of people are rushing to make predictions.

386
00:20:38,240 --> 00:20:41,400
Speaker 4: It's a it's silly to even try to make predictions

387
00:20:41,520 --> 00:20:44,320
Speaker 4: about next week, never mind, you know, way down the road,

388
00:20:44,440 --> 00:20:45,880
Speaker 4: because we have no idea how they're going to react,

389
00:20:45,960 --> 00:20:48,119
Speaker 4: for one thing, these other countries, and they're going to

390
00:20:48,480 --> 00:20:53,080
Speaker 4: react individually. I imagine some of them are going to immediately

391
00:20:54,840 --> 00:20:57,119
Speaker 4: change their tariff structure out of fear. Some of them

392
00:20:57,119 --> 00:21:00,000
Speaker 4: are going to hold their ground. Yeah, Canada, Israel, Indiana,

393
00:21:01,000 --> 00:21:03,640
Speaker 4: I'll find the complete list have said, no, we're not retaliating.

394
00:21:03,680 --> 00:21:06,920
Speaker 1: We'll work this out. It'll be fine. So where this

395
00:21:07,080 --> 00:21:10,240
Speaker 1: is next month, on the third of the month. Nobody knows.

396
00:21:11,040 --> 00:21:16,080
Speaker 4: So anyway, some arguments pro we heard Scott Bessen't they're

397
00:21:16,160 --> 00:21:20,120
Speaker 4: the Secretary of the Treasury saying, don't you be retaliating,

398
00:21:20,240 --> 00:21:21,640
Speaker 4: or we'll give you a good slap down.

399
00:21:23,280 --> 00:21:23,960
Speaker 1: Here's Howard.

400
00:21:24,200 --> 00:21:25,560
Speaker 4: Yes, maybe be a good idea to go to the

401
00:21:25,640 --> 00:21:28,000
Speaker 4: last Secretary of the Treasury, Janet yelling right after we

402
00:21:28,119 --> 00:21:32,000
Speaker 4: just heard from Besson. Sure different, Yeah, fifty Will American

403
00:21:32,040 --> 00:21:34,760
Speaker 4: consumers bear the cost of these tariffs?

404
00:21:35,080 --> 00:21:40,560
Speaker 1: I don't believe that American consumers will see any meaningful

405
00:21:40,760 --> 00:21:43,520
Speaker 1: increase in the prices that they face.

406
00:21:44,440 --> 00:21:49,720
Speaker 4: That was in twenty twenty four. Okay, gotcha. Oh that's interesting. Yeah, yeah,

407
00:21:49,760 --> 00:21:52,480
Speaker 4: I'd like to hear a little more. But the Secretary

408
00:21:52,480 --> 00:21:56,000
Speaker 4: of Commerce, Howard Lutnick, is beating the bushes and making

409
00:21:56,119 --> 00:21:59,280
Speaker 4: speeches and appearing on media as well. Fifty two, please, Michael.

410
00:21:59,160 --> 00:22:04,560
Speaker 5: Your opinion. Won't take chicken from America. They won't take

411
00:22:04,680 --> 00:22:08,800
Speaker 5: lobsters from America. They hate our beef because our beef

412
00:22:09,000 --> 00:22:11,640
Speaker 5: is beautiful and theirs is weak.

413
00:22:11,960 --> 00:22:13,840
Speaker 1: It's unbelievable. They won't.

414
00:22:13,920 --> 00:22:17,119
Speaker 5: We can't sell corn to India. We can't sell rice

415
00:22:17,240 --> 00:22:17,840
Speaker 5: to Asia.

416
00:22:18,640 --> 00:22:22,679
Speaker 4: Okay, you used two adjectives for beef that nobody ever uses.

417
00:22:23,400 --> 00:22:26,719
Speaker 1: How's your beef? How's your steak? Beautiful? Mine's kind of weak?

418
00:22:27,680 --> 00:22:32,359
Speaker 4: What he's a New Yorker? They talked differently. Give us

419
00:22:32,359 --> 00:22:34,720
Speaker 4: one more, Howard Ludnik there and Michael.

420
00:22:34,720 --> 00:22:39,560
Speaker 5: Finally, finally, the man behind the resolute desk, the man

421
00:22:39,640 --> 00:22:43,040
Speaker 5: in the Oval office, Donald Trump is finally standing up

422
00:22:43,040 --> 00:22:47,080
Speaker 5: for our farmers, our ranchers, and our manufacturers to let

423
00:22:47,200 --> 00:22:51,440
Speaker 5: the world understand either they're buying our products or don't

424
00:22:51,720 --> 00:22:55,280
Speaker 5: bother coming here unless you're paying for the right to come.

425
00:22:55,480 --> 00:22:58,359
Speaker 1: It doesn't sound that crazy, no.

426
00:22:58,560 --> 00:23:01,960
Speaker 4: The Wall Street Journal, the big headline last night was

427
00:23:02,040 --> 00:23:05,280
Speaker 4: Trump's message is clear. The era of globalization is over,

428
00:23:06,200 --> 00:23:08,960
Speaker 4: like you've been saying. The problem is it takes a

429
00:23:09,000 --> 00:23:11,199
Speaker 4: long time to unwind that. Can you do it in

430
00:23:11,240 --> 00:23:13,200
Speaker 4: the three and a half years before the next person

431
00:23:13,240 --> 00:23:16,840
Speaker 4: comes in and possibly reverses all of it? Right, Maybe

432
00:23:16,840 --> 00:23:18,960
Speaker 4: one of those situations where you make as much progress

433
00:23:19,000 --> 00:23:21,280
Speaker 4: as as is possible. It's not gonna be all the

434
00:23:21,280 --> 00:23:23,200
Speaker 4: way to where we ought to be but some progress.

435
00:23:23,600 --> 00:23:26,919
Speaker 4: Let's hear from the head guy himself. Give us a

436
00:23:26,960 --> 00:23:30,120
Speaker 4: forty seven in thirty one thirty two, back to back

437
00:23:30,200 --> 00:23:32,359
Speaker 4: forty seven meaning the president as I called for clips.

438
00:23:32,359 --> 00:23:34,560
Speaker 4: That was a confusing reference, and I apologize for it.

439
00:23:34,640 --> 00:23:35,000
Speaker 1: Hit it.

440
00:23:36,440 --> 00:23:39,240
Speaker 4: Thirty one and thirty two. Michael, dammit, thirty one and

441
00:23:39,320 --> 00:23:40,640
Speaker 4: thirty Now I'm yelling at him.

442
00:23:40,840 --> 00:23:44,320
Speaker 2: For decades, our country has been looted, pillage, raped, and

443
00:23:44,440 --> 00:23:47,840
Speaker 2: plundered by nations near and far, both friend.

444
00:23:47,600 --> 00:23:48,520
Speaker 1: And foe like.

445
00:23:48,880 --> 00:23:51,600
Speaker 2: Our country and its taxpayers have been ripped off for

446
00:23:51,640 --> 00:23:55,320
Speaker 2: more than fifty years. But it is not going to

447
00:23:55,680 --> 00:23:56,680
Speaker 2: happen anymore.

448
00:23:56,840 --> 00:23:57,800
Speaker 1: It's not going to happen.

449
00:24:00,880 --> 00:24:03,720
Speaker 2: In a few moments, I will sign a historic executive

450
00:24:03,840 --> 00:24:09,560
Speaker 2: order instituting reciprocal tariffs on countries throughout the world.

451
00:24:09,640 --> 00:24:10,400
Speaker 1: Reciprocal.

452
00:24:10,600 --> 00:24:13,119
Speaker 2: That means they do it to us and we do

453
00:24:13,240 --> 00:24:14,080
Speaker 2: it to them.

454
00:24:14,359 --> 00:24:14,959
Speaker 1: Very simple.

455
00:24:15,160 --> 00:24:16,720
Speaker 2: Can't get any simpler than that.

456
00:24:17,520 --> 00:24:20,679
Speaker 4: So I'm maybe maybe you're speaking to the perfect audience,

457
00:24:20,760 --> 00:24:23,520
Speaker 4: dumb guy me who doesn't understanding this sort of stuff.

458
00:24:23,600 --> 00:24:26,199
Speaker 4: I don't understand the trade war talk. If they've been

459
00:24:26,240 --> 00:24:28,880
Speaker 4: doing it to us forever like that, I didn't know

460
00:24:29,119 --> 00:24:31,840
Speaker 4: the tariffs were this high, and all these different countries

461
00:24:31,840 --> 00:24:35,159
Speaker 4: for our stuff going over there, poor ehemplo, as they

462
00:24:35,160 --> 00:24:37,960
Speaker 4: would say, in the plants that are manufacturing our cars

463
00:24:37,960 --> 00:24:42,679
Speaker 4: in Mexico. European Union hits US with thirty nine percent

464
00:24:42,720 --> 00:24:45,639
Speaker 4: tariffs on our goods. The ones they let in, they

465
00:24:45,680 --> 00:24:49,400
Speaker 4: won't let in our beautiful beef, for instance, thirty nine

466
00:24:49,440 --> 00:24:50,000
Speaker 4: percent of.

467
00:24:50,000 --> 00:24:51,320
Speaker 1: Beef that they do, sir.

468
00:24:52,040 --> 00:24:56,879
Speaker 4: The new trade warry US tariffs on the European Union

469
00:24:57,000 --> 00:25:00,560
Speaker 4: not thirty nine percent, but twenty percent. The US counted

470
00:25:00,600 --> 00:25:05,320
Speaker 4: reciprocal tariffs twenty percent, so that is virtually exactly half

471
00:25:05,400 --> 00:25:06,680
Speaker 4: of what they're charging.

472
00:25:06,359 --> 00:25:09,640
Speaker 1: Us a trade war. Trump started a trade war.

473
00:25:09,720 --> 00:25:11,840
Speaker 4: Well, like, so I would like this explained to me

474
00:25:11,880 --> 00:25:14,560
Speaker 4: by somebody smart, because I'm probably missing something. This is

475
00:25:14,600 --> 00:25:20,280
Speaker 4: not my area. But uh ah, how was it supposed

476
00:25:20,280 --> 00:25:24,639
Speaker 4: to go on like this forever? Y? Yes, until it

477
00:25:24,680 --> 00:25:27,120
Speaker 4: affected the stock prices and bottom lines of the major

478
00:25:27,160 --> 00:25:31,600
Speaker 4: corporations that profit from it, because they knew what to expect, so.

479
00:25:31,640 --> 00:25:33,280
Speaker 1: It was factored into their business plan.

480
00:25:33,720 --> 00:25:36,080
Speaker 4: But we're supposed to let Europe have a tariff of

481
00:25:36,119 --> 00:25:38,000
Speaker 4: almost forty percent forever and we don't?

482
00:25:38,359 --> 00:25:42,000
Speaker 1: Yes, why I know, I agree with you? And if

483
00:25:41,880 --> 00:25:43,479
Speaker 1: it would end, you know, the whole thing.

484
00:25:43,520 --> 00:25:45,719
Speaker 4: If it can't go on forever, it must end that

485
00:25:45,760 --> 00:25:48,720
Speaker 4: I love, it can't go on forever like that, Well, at.

486
00:25:48,680 --> 00:25:50,560
Speaker 1: What point was it going to end? Who is going

487
00:25:50,600 --> 00:25:51,000
Speaker 1: to do it?

488
00:25:51,240 --> 00:25:55,760
Speaker 4: Vietnam hits US with ninety percent tariffs. Oh man, the

489
00:25:55,800 --> 00:25:58,960
Speaker 4: new discounted tariffs against their goods forty six percent. You

490
00:25:58,960 --> 00:26:00,560
Speaker 4: got to go back to start to trade war. We

491
00:26:00,600 --> 00:26:01,080
Speaker 4: gotta go back.

492
00:26:01,080 --> 00:26:04,760
Speaker 1: Oh, that's not even funny. Taiwan. Wait, wait, wait, wait,

493
00:26:04,960 --> 00:26:07,480
Speaker 1: wait a minute, Taiwan.

494
00:26:08,920 --> 00:26:12,359
Speaker 4: The only reason shesion Ping isn't nude sunbathing on their

495
00:26:12,400 --> 00:26:16,600
Speaker 4: beaches right now is our armed forces and the thread

496
00:26:16,640 --> 00:26:18,760
Speaker 4: of using them, which nobody knows would have if it

497
00:26:18,760 --> 00:26:19,520
Speaker 4: would happen or not.

498
00:26:19,960 --> 00:26:21,800
Speaker 1: Taiwan hits US with sixty.

499
00:26:21,520 --> 00:26:24,640
Speaker 4: Four percent our friends, now we're going to hit them

500
00:26:24,680 --> 00:26:26,159
Speaker 4: with thirty two percent.

501
00:26:26,240 --> 00:26:27,960
Speaker 1: Trump starting a trade war?

502
00:26:28,200 --> 00:26:31,080
Speaker 4: Wellis seriously, I would love to take a class and

503
00:26:31,160 --> 00:26:34,360
Speaker 4: somebody explained to me why that was okay to continue

504
00:26:34,359 --> 00:26:43,679
Speaker 4: that way? Right the Well, the incentives to change the

505
00:26:43,720 --> 00:26:47,879
Speaker 4: post WW two norms just haven't been strong enough for

506
00:26:48,040 --> 00:26:50,919
Speaker 4: the actual people who run the world, the money guys,

507
00:26:51,680 --> 00:26:54,200
Speaker 4: to be in favor of it. They would rather know

508
00:26:54,240 --> 00:26:57,359
Speaker 4: what the numbers are, as I said, fashion the business

509
00:26:57,440 --> 00:27:00,679
Speaker 4: plan accordingly and make their profits. This is everything up

510
00:27:00,680 --> 00:27:03,760
Speaker 4: in the air. They can't plan. They don't know where

511
00:27:03,840 --> 00:27:06,399
Speaker 4: and how to invest, which has got them very frightened.

512
00:27:06,400 --> 00:27:08,200
Speaker 4: And that's why the stock market's doing what it's doing.

513
00:27:08,240 --> 00:27:10,879
Speaker 1: I haven't checked lately. Actually it bounds back down twelve

514
00:27:11,040 --> 00:27:16,600
Speaker 1: hundred last moment I saw. Oh, anyway, that's the problem.

515
00:27:16,720 --> 00:27:18,879
Speaker 1: It's not that this is bad policy.

516
00:27:19,320 --> 00:27:24,639
Speaker 4: It's that it is a significant change and be a

517
00:27:24,720 --> 00:27:26,480
Speaker 4: whole load of uncertainty.

518
00:27:27,000 --> 00:27:29,160
Speaker 1: That uncertainty will not last forever.

519
00:27:30,880 --> 00:27:34,760
Speaker 4: But the dust absolutely does need to settle before anybody

520
00:27:34,800 --> 00:27:38,240
Speaker 4: knows what direction this is likely to move. It can't

521
00:27:38,400 --> 00:27:45,080
Speaker 4: be the founder's intent that one guy can make this decision,

522
00:27:45,080 --> 00:27:48,199
Speaker 4: though is It seems like an awful big decision to

523
00:27:48,240 --> 00:27:49,280
Speaker 4: be in the hands of one person.

524
00:27:49,440 --> 00:27:50,320
Speaker 1: Ladies and gentlemen.

525
00:27:51,080 --> 00:27:53,280
Speaker 4: Take to ladies and gentlemen, I give you the curly

526
00:27:53,320 --> 00:27:57,919
Speaker 4: headed gentleman from Kentucky Senator and Paul clip fifty Michael.

527
00:27:58,800 --> 00:28:03,959
Speaker 9: Tariffs have also to political decimation d McKinley most famous,

528
00:28:03,960 --> 00:28:06,879
Speaker 9: they put tariffs on in eighteen ninety. They lost fifty

529
00:28:06,880 --> 00:28:09,800
Speaker 9: percent of their seats in the next selection when Haigh

530
00:28:09,840 --> 00:28:12,359
Speaker 9: smoothly put on their tariff in their early nineteen thirties

531
00:28:12,400 --> 00:28:15,320
Speaker 9: and lost the House in the Senate for sixty years.

532
00:28:15,840 --> 00:28:19,040
Speaker 9: So they're not only bad economically or they're bad politically.

533
00:28:19,400 --> 00:28:21,480
Speaker 4: That's funny. I heard him making the point you just

534
00:28:21,520 --> 00:28:26,000
Speaker 4: made that. The Constitution says the power to tax is

535
00:28:26,040 --> 00:28:30,600
Speaker 4: invested in Congress period. The tariff thing in a national

536
00:28:30,640 --> 00:28:33,199
Speaker 4: emergency gives the president a fair amount of discretion. But

537
00:28:33,480 --> 00:28:37,040
Speaker 4: I am really really troubled by one person, any person,

538
00:28:37,400 --> 00:28:40,400
Speaker 4: having this much power. That's another one of the downsides

539
00:28:40,440 --> 00:28:43,440
Speaker 4: to this. I mean, good lord, you get a you know,

540
00:28:44,040 --> 00:28:46,440
Speaker 4: Biden has gone and soon to be forgotten.

541
00:28:47,480 --> 00:28:49,600
Speaker 1: But the next Democrat wack.

542
00:28:49,440 --> 00:28:53,040
Speaker 4: Adoodle that gets in there, who knows what they'll decide,

543
00:28:53,040 --> 00:28:56,520
Speaker 4: and just whipsaw trade in a different direction for whatever reason.

544
00:28:57,560 --> 00:29:03,080
Speaker 4: I think Trump's motivations are honestly a righteous and b

545
00:29:03,680 --> 00:29:06,120
Speaker 4: long term in a way we have not seen for

546
00:29:06,160 --> 00:29:07,080
Speaker 4: a very long time.

547
00:29:07,320 --> 00:29:08,800
Speaker 1: That does not mean it's gonna work.

548
00:29:09,080 --> 00:29:12,600
Speaker 4: No, And we have an election every two years. That's

549
00:29:12,600 --> 00:29:15,000
Speaker 4: not very long, Termy. Wall Street is a quarter by

550
00:29:15,120 --> 00:29:19,360
Speaker 4: quarter situation, so that's not very long, Termy. Yeah, South

551
00:29:19,440 --> 00:29:23,840
Speaker 4: Korea hits US with fifty percent tariffs fifty percent, We're

552
00:29:23,840 --> 00:29:26,360
Speaker 4: now going to hit them with I lost it.

553
00:29:28,040 --> 00:29:30,560
Speaker 1: Twenty five percent. Well more people should.

554
00:29:30,360 --> 00:29:32,280
Speaker 4: Be aware that in Japan, which is what the fourth

555
00:29:32,360 --> 00:29:36,480
Speaker 4: biggest economy in the world, they make it so expensive

556
00:29:36,520 --> 00:29:39,520
Speaker 4: to buy a car from America that they drive almost

557
00:29:39,680 --> 00:29:44,120
Speaker 4: entirely cars made in their own country. And that's okay,

558
00:29:44,160 --> 00:29:47,120
Speaker 4: but us to do anything similar as a who trade war?

559
00:29:47,560 --> 00:29:49,040
Speaker 1: Trump started a trade war.

560
00:29:50,800 --> 00:29:53,400
Speaker 4: We need black bombs going off sounds and the ahuga

561
00:29:53,440 --> 00:29:53,800
Speaker 4: and stuff.

562
00:29:53,800 --> 00:29:55,880
Speaker 1: Can somebody mix that together? Okay? So that's my number

563
00:29:55,880 --> 00:29:56,360
Speaker 1: one question.

564
00:29:56,760 --> 00:29:59,560
Speaker 4: So somebody's listening right now has got a PhD in

565
00:29:59,600 --> 00:30:01,760
Speaker 4: economic or you know, you do this for a living

566
00:30:01,840 --> 00:30:03,720
Speaker 4: or something. Here's my number one question for the day.

567
00:30:04,520 --> 00:30:07,320
Speaker 4: If you're a free trader, why does that not include

568
00:30:07,480 --> 00:30:11,080
Speaker 4: the almost fifty percent tax coming out of Europe or

569
00:30:11,480 --> 00:30:16,080
Speaker 4: tariff on their side. Don't get me started about boatswana bastards.

570
00:30:16,520 --> 00:30:20,840
Speaker 4: So never turn your back on a Boatswanan. Huh seventy

571
00:30:20,880 --> 00:30:25,520
Speaker 4: four percent? Yeah, in what sense is that free trade?

572
00:30:27,280 --> 00:30:30,720
Speaker 4: It's free trade into the United States because that is

573
00:30:30,760 --> 00:30:35,719
Speaker 4: my biggest market, that's what they mean. And we you know,

574
00:30:35,760 --> 00:30:37,840
Speaker 4: we've got the most dominant economy on the planet for

575
00:30:37,920 --> 00:30:42,640
Speaker 4: a very very long time. Egypt ten percent and we

576
00:30:42,720 --> 00:30:44,560
Speaker 4: hit them with ten percent. Feel free to walk like

577
00:30:44,600 --> 00:30:49,080
Speaker 4: an Egyptian if you choose too. They're free traders like ourselves.

578
00:30:50,480 --> 00:30:53,680
Speaker 1: Madagascar. How much trade do we do with Madagascar?

579
00:30:54,200 --> 00:30:54,360
Speaker 6: You know?

580
00:30:54,440 --> 00:30:55,800
Speaker 4: Another thing that I find kind of funny. Then we

581
00:30:55,880 --> 00:30:57,280
Speaker 4: got to take a break, shoot and get the mail bag.

582
00:30:57,320 --> 00:31:01,560
Speaker 4: Is everybody's described as ourumber one trading partner. I've heard

583
00:31:01,560 --> 00:31:10,520
Speaker 4: that applied to like nine different entities, not Boatswana, the Factors, Canada, Mexico, Europe, China,

584
00:31:10,720 --> 00:31:13,160
Speaker 4: whoever they mentioned. So is there a number one trading partner?

585
00:31:13,240 --> 00:31:16,160
Speaker 4: And I guess like within a certain segment or it

586
00:31:16,240 --> 00:31:19,480
Speaker 4: must be I don't even know, but yeah, I know

587
00:31:19,520 --> 00:31:21,080
Speaker 4: what you mean. It reminds me of one time a

588
00:31:21,120 --> 00:31:23,560
Speaker 4: tour came through the radio. There's six radio stations here

589
00:31:23,640 --> 00:31:26,680
Speaker 4: and a tour came through and then somebody mentioned every

590
00:31:26,800 --> 00:31:28,920
Speaker 4: radio station. We looked at the person said, we're the

591
00:31:29,000 --> 00:31:32,000
Speaker 4: number one radio station, and I thought, well, that's because

592
00:31:32,040 --> 00:31:34,520
Speaker 4: you know, you're number one young women, you're number one,

593
00:31:34,600 --> 00:31:36,800
Speaker 4: older men, you're number one all adults, you're number one

594
00:31:36,840 --> 00:31:38,200
Speaker 4: whatever you break it down, and me you call yourself

595
00:31:38,280 --> 00:31:39,600
Speaker 4: number one, which is fine.

596
00:31:39,840 --> 00:31:41,800
Speaker 1: That must be the similar with the trade must be

597
00:31:41,960 --> 00:31:42,320
Speaker 1: must be.

598
00:31:42,480 --> 00:31:45,800
Speaker 4: Okay, we've got mail bag on the way, stay here.

599
00:31:47,800 --> 00:31:50,560
Speaker 2: Looted, pillage, raped and plundered.

600
00:31:53,400 --> 00:31:56,080
Speaker 4: The old LPRP. You hate to have that going on.

601
00:31:56,640 --> 00:32:00,480
Speaker 4: It's a country pillaged, draped and plundered. He could leave

602
00:32:00,480 --> 00:32:03,040
Speaker 4: the R word out. It's a little harsh.

603
00:32:03,160 --> 00:32:03,560
Speaker 9: Yeah.

604
00:32:03,720 --> 00:32:07,400
Speaker 4: Yeah, here's your freedom loving quote of the day from

605
00:32:07,520 --> 00:32:09,800
Speaker 4: the great Chinese businessman.

606
00:32:09,440 --> 00:32:13,680
Speaker 1: Jack Mom who's in prison. He's disappeared. Nobody's is probably

607
00:32:13,680 --> 00:32:14,120
Speaker 1: on the begion.

608
00:32:14,840 --> 00:32:18,240
Speaker 4: We should keep going along the path of globalization. Globalization

609
00:32:18,400 --> 00:32:25,440
Speaker 4: is good. When trade stops, war comes, then you've got.

610
00:32:26,480 --> 00:32:27,320
Speaker 1: Donald J. Trump.

611
00:32:27,360 --> 00:32:30,000
Speaker 4: Every decision on trade, on taxes, on immigration, on foreign

612
00:32:30,000 --> 00:32:33,000
Speaker 4: affairs will be made to benefit American workers and American families.

613
00:32:33,160 --> 00:32:35,360
Speaker 4: We must protect our borders from the ravages of other

614
00:32:35,400 --> 00:32:38,680
Speaker 4: countries making our products, stealing our companies, and destroying our jobs.

615
00:32:38,760 --> 00:32:41,800
Speaker 4: Protection will lead to great prosperity and strength. There is

616
00:32:41,840 --> 00:32:43,800
Speaker 4: going to be something culturally. This is gonna be damned

617
00:32:43,800 --> 00:32:47,600
Speaker 4: interesting to watch. As prices go up. Do people think, okay,

618
00:32:47,680 --> 00:32:50,200
Speaker 4: long term this will benefit or are they just immediately

619
00:32:50,480 --> 00:32:54,160
Speaker 4: screw this boo Trump's eighteen percent approval.

620
00:32:54,200 --> 00:32:54,640
Speaker 1: Great deal.

621
00:32:54,640 --> 00:32:56,960
Speaker 4: More to be said next hour, hoping stay tuned, mail

622
00:32:57,000 --> 00:32:59,920
Speaker 4: EG tromps, Nope mail bag at Armstrong you giddy dot.

623
00:33:00,640 --> 00:33:04,160
Speaker 4: A number of people wanting to comment on our fascinating

624
00:33:04,200 --> 00:33:09,960
Speaker 4: discussion of Ezra Kline explaining the progressive world view yesterday.

625
00:33:10,200 --> 00:33:12,440
Speaker 4: If you didn't listen to it, grab it via podcast

626
00:33:12,520 --> 00:33:14,680
Speaker 4: Armstrong you're getting on demand just a quick clip of

627
00:33:14,720 --> 00:33:15,240
Speaker 4: mister Klein.

628
00:33:15,600 --> 00:33:17,960
Speaker 10: You can define the left in different ways. I think

629
00:33:18,000 --> 00:33:21,040
Speaker 10: the left has a couple fundamental views. One is it

630
00:33:21,200 --> 00:33:26,040
Speaker 10: life is unfair. We are born with different talents, we

631
00:33:26,080 --> 00:33:27,640
Speaker 10: are born into different nations.

632
00:33:27,760 --> 00:33:27,960
Speaker 1: Right.

633
00:33:28,040 --> 00:33:30,680
Speaker 10: The luck of being born into America is right, different

634
00:33:30,840 --> 00:33:33,280
Speaker 10: than the luck of being born into Venezuela.

635
00:33:33,360 --> 00:33:36,880
Speaker 4: And therefore they have the duty to equalize everything. Because

636
00:33:36,880 --> 00:33:39,360
Speaker 4: you didn't build that, you were just lucky, etc. That

637
00:33:39,440 --> 00:33:42,080
Speaker 4: was his next line. If you're successful, you didn't do that.

638
00:33:42,640 --> 00:33:46,520
Speaker 4: By the way, vocal you as vocal Fryan a teenage girl. Mmmmm,

639
00:33:47,360 --> 00:33:52,240
Speaker 4: vocal frying a grown ass man needs a slapping wow. Anyway,

640
00:33:52,360 --> 00:33:55,040
Speaker 4: Don writes, if you read only one of my emails

641
00:33:55,120 --> 00:33:56,760
Speaker 4: in your entire life, this is the one.

642
00:33:56,760 --> 00:33:59,640
Speaker 1: I want you to be aware of that's a good opening.

643
00:33:59,680 --> 00:34:03,640
Speaker 4: Yeah, Dan, Ezra didn't outright say it, but he's addressing

644
00:34:03,760 --> 00:34:06,440
Speaker 4: your point about people's life decisions when he says life

645
00:34:06,440 --> 00:34:09,160
Speaker 4: is unfair. Here's the scary Jack made the point that

646
00:34:09,200 --> 00:34:12,480
Speaker 4: they never talk about life decisions and we've all made

647
00:34:12,560 --> 00:34:18,919
Speaker 4: good ones and bad ones. Right, here's the scary, crazy point.

648
00:34:18,960 --> 00:34:20,840
Speaker 4: He's not saying out loud because he can't defend it

649
00:34:20,880 --> 00:34:22,799
Speaker 4: and would make him sound like a lunatic. He does

650
00:34:22,840 --> 00:34:25,200
Speaker 4: not believe in free will. Trust me, my brother and

651
00:34:25,239 --> 00:34:27,960
Speaker 4: his girlfriend are liberal, highly educated. When having a political

652
00:34:28,000 --> 00:34:31,120
Speaker 4: debate with me, they spat out Ezra's crazy worldview almost

653
00:34:31,120 --> 00:34:33,200
Speaker 4: word for word. When I brought up your point that

654
00:34:33,239 --> 00:34:36,200
Speaker 4: everyone makes decisions in life that greatly affects their outcomes,

655
00:34:36,320 --> 00:34:39,400
Speaker 4: they defended their position with this, There is a crazy

656
00:34:39,800 --> 00:34:42,759
Speaker 4: neo Marxist ideology going around with the progressives right now,

657
00:34:42,920 --> 00:34:44,879
Speaker 4: that we didn't make our own decisions, it was all

658
00:34:44,880 --> 00:34:48,279
Speaker 4: predetermined or destined. What they straight up said that to me,

659
00:34:48,360 --> 00:34:50,480
Speaker 4: I just got lucky in that every so called decision

660
00:34:50,480 --> 00:34:53,680
Speaker 4: I made in my life was predetermined because of I

661
00:34:53,680 --> 00:34:56,759
Speaker 4: think they would say his genetic makeup. Well, if you

662
00:34:56,800 --> 00:35:00,840
Speaker 4: believe that because of God, your nut job to those people.

663
00:35:01,440 --> 00:35:04,560
Speaker 4: But if you believe it through Marxism, it makes sense.

664
00:35:04,800 --> 00:35:06,319
Speaker 4: You know, we need to bring this up again. There's

665
00:35:06,400 --> 00:35:10,040
Speaker 4: much more said, hell of a topic. It all fits

666
00:35:10,080 --> 00:35:14,920
Speaker 4: together under the umbrella of what I would call learned dependency,

667
00:35:15,400 --> 00:35:18,560
Speaker 4: which is a huge part of the leftist political philosophy.

668
00:35:18,880 --> 00:35:23,920
Speaker 4: They teach people to be devoid of free will, devoid

669
00:35:23,920 --> 00:35:26,680
Speaker 4: of self determination agency as they call it, and to

670
00:35:26,719 --> 00:35:28,680
Speaker 4: be dependent on them.

671
00:35:29,000 --> 00:35:30,080
Speaker 1: Boy, we have a lot today.

672
00:35:30,080 --> 00:35:32,040
Speaker 4: If you miss a segment, get the podcast Armstrong and

673
00:35:32,040 --> 00:35:34,280
Speaker 4: Getty on demand Armstrong and Getty