Speaker 1: Broadcasting live from the Abraham Lincoln Radio Studio, the George
Speaker 1: Washington Broadcast Center, Jack Armstrong and Joe, Katty Armstrong and
Speaker 1: Jettie and he.
Speaker 2: Arms Rong.
Speaker 1: Are you terrified? It's a terrifle start to the day?
Speaker 3: Terrified?
Speaker 1: Live from studio.
Speaker 4: Seats signor a dimly lit room deeper in the bowels
Speaker 4: of the Armstrong and Getty Communications Compound.
Speaker 1: Hey, it's a little Friday. Let's get a the.
Speaker 4: Weekend starts now, all right, Today we're under the tutelage
Speaker 4: of our general manager, the trade war.
Speaker 3: Excusey poo poo.
Speaker 1: Here's something I thing I'd like to throw it.
Speaker 4: I think this would be helpful to everybody if you
Speaker 4: watch any coverage of this terrifficing and it's a big deal,
Speaker 4: it's it's it's a really really big deal. This is
Speaker 4: not a blowing a story out of proportion thing. It's
Speaker 4: a big story. It should be the lead story. It
Speaker 4: should be talked about all day, maybe all week, maybe
Speaker 4: all month. But any source that leads with the stock
Speaker 4: markets already down three percent, anything that focuses on how
Speaker 4: much the stock market's down in early hours or days,
Speaker 4: then turn it off. They're not serious news brokers. They're
Speaker 4: not They're not serious about discussing this because that's a
Speaker 4: dumb way to look at it. There's nothing wrong with
Speaker 4: including that in the coverage, but that's not the lead.
Speaker 3: Well, it doesn't mean anything.
Speaker 4: Do you have any ending if you can explain, Well,
Speaker 4: you're right, right, yeah, yeah, I would argue it's going
Speaker 4: to be more long term than that.
Speaker 1: But this is I you know, it's funny.
Speaker 4: I was going to say, in general about this story,
Speaker 4: beware anyone oversimplifying it, because you will have Trump's a
Speaker 4: monster and he's ruined the economy. The Wall Street Journal
Speaker 4: editorial board, for instance, has not only wet its pants,
Speaker 4: it's filled. It filled them pants. Why is pants plural
Speaker 4: and shirt not? You got two arms?
Speaker 1: Anyway?
Speaker 4: Well, I slowed down. What did you just say? Pants?
Speaker 1: Pants?
Speaker 4: I bought a pair of pants, even though it's one
Speaker 4: It's I didn't buy a pair hair. It's got two
Speaker 4: legs because that's the way bipeds are built. Right, It's
Speaker 4: why is it a pair? And why is it pants
Speaker 4: and not a shirts? I got two arms, right, That's
Speaker 4: what I'm saying. Huh So, anyway, the Wall Street Journalist
Speaker 4: is filled. It's lower garment with its papoo is what
Speaker 4: I'm hinting at U, saying that this is a disastrous, horrifying,
Speaker 4: radical wild move and Trump will ruin the economy.
Speaker 1: Uh, there are others who.
Speaker 4: Are a street journal who's in love with globalism and
Speaker 4: anything that makes giant corporations richer.
Speaker 1: Sure they're not worried about you.
Speaker 4: Meanwhile, on the MAGA right, you have people saying just
Speaker 4: ridiculous things about, hey, products will cost the same, the
Speaker 4: jobs will just be American, ignoring the fact that wait
Speaker 4: a minute, my labor costs just sex tuppled. How am
Speaker 4: I going to keep my prices the same? It's because well,
Speaker 4: tariffs will be so high. So it's there's there's a
Speaker 4: bit to untangle. But untangle it we will. It's a
Speaker 4: pair of socks and a pair of gloves, but those
Speaker 4: are two separate items. You can lose one glove and
Speaker 4: still have the other ones. You can hold one in
Speaker 4: each hand. Yeah, back to the tariff talk a pant.
Speaker 4: Here's another thing that I think is misleading that you're
Speaker 4: hearing on the want you to be scared channels, And
Speaker 4: maybe you should be scared.
Speaker 1: I don't I'm not claiming it's.
Speaker 4: All the people I tend to like on stuff like
Speaker 4: this think it's a horrible idea. So but the hitting
Speaker 4: you with the total number, the percentage of the tariff,
Speaker 4: and leaving out the fact that, for instance, of today,
Speaker 4: fifty four percent total tariff or they don't say total,
Speaker 4: they just say fifty four percent now on China, which
Speaker 4: sounds like an extraordinary number. Do you think, geez, my
Speaker 4: iPhone's going to cost three thousand dollars and everything like that.
Speaker 4: We're already at like thirty percent on most stuffs. We've
Speaker 4: added another twenty some percent. So it's a little misleading
Speaker 4: to hit you at the fifty four percent. We've been
Speaker 4: living with another pretty big number for quite a while,
Speaker 4: several years, right right. And you know what's funny, I'm
Speaker 4: having so much trouble finding this. I assumed it would
Speaker 4: be omnipresent. I need to have in front of me
Speaker 4: the eight pages of tariff figures that Trump was holding
Speaker 4: up and touting yesterday. And you may have seen on
Speaker 4: conservative news outlets pointing out and again, I apologize that
Speaker 4: I don't have the numbers in front of me. I
Speaker 4: will in just a couple of minutes that, for instance,
Speaker 4: Vietnam from which we get a great deal of our
Speaker 4: manufactured items.
Speaker 1: Is Nike. Most of your Nikes are made in vietnamme,
Speaker 1: that's correct. Yeah.
Speaker 4: And there's Sri Lanka and several other Southeast Asian countries, Malaysia, Thailand.
Speaker 4: We have been charging them next to no tariff, and
Speaker 4: they have been charging US sixty five seventy five, eighty
Speaker 4: eight percent in the case of India. And you look
Speaker 4: at that, and you say, and you hear somebody say
Speaker 4: Trump started a trade war. There was already a trade war.
Speaker 4: We had just gone ahead and conceded all the ground.
Speaker 4: This is the beginning of a process, right, Okay, this
Speaker 4: is where I'm perfectly willing to get into my ignorance
Speaker 4: portion of this. I've never claimed to be an expert
Speaker 4: in economics.
Speaker 1: See student over here, smartest horse on the whole trade
Speaker 1: war thing.
Speaker 4: So when I hear people, a lot of the people
Speaker 4: that I really like politically say I'm a free trader
Speaker 4: to the bone, I'm a free trader to the bone,
Speaker 4: free trade, yeah all the way. Okay, if Vietnam's got
Speaker 4: eighty percent tariffs on us, then what does how does
Speaker 4: that factor? Indo, You're a free trader. Well, it's dishonest.
Speaker 4: They have accepted the post WW two ground as it lies,
Speaker 4: free trade on that ground on that basis because you
Speaker 4: can still make tremendous amounts of money because you're having
Speaker 4: your manufacturing done over there for this gigantic economic market.
Speaker 4: Vietnam is not a gigantic economic market. So if I'm
Speaker 4: struggling to export to Vietnam, it doesn't matter. I'm selling
Speaker 4: to America primarily ear Europe or whatever. I'm not trying
Speaker 4: to be a smarty pants, got you ha ha guy.
Speaker 4: I honestly don't understand this, because I've heard multiple people
Speaker 4: say this recently. Their economic philosophy is free trade. Well,
Speaker 4: it sounds to me like these other countries we deal with,
Speaker 4: they've been tarifying the crap out of US. So where
Speaker 4: does the free trade come in. Is there much free
Speaker 4: trade going on? Yeah, you want free trade into the
Speaker 4: United So that's what they mean. Yes, okay, Yeah, you
Speaker 4: just want this giant juggernaut of a wonderful economy to
Speaker 4: continue to accept good manufactured cheaply.
Speaker 1: In the third World.
Speaker 4: I get that argument, we used that yesterday. I forget
Speaker 4: what thinker I like who said, why is every president
Speaker 4: Republican or Democrat coming to office and take hold of
Speaker 4: the world's most successful economy and think we've got to
Speaker 4: change things, right, Yeah, which is a pretty good question.
Speaker 4: Like I heard the stat on a japan who teariffs
Speaker 4: the heck out of cars coming from US, and eighty
Speaker 4: four percent of their vehicles are all Japanese made, right,
Speaker 4: It's it's this is true of so many things, especially economically,
Speaker 4: the post WW two era. And forgive me if you've
Speaker 4: heard this screen many times, in which we stood astride
Speaker 4: the globe as the only intact major economy. Europe was
Speaker 4: in ruins, Asia was living in huts, and and so we,
Speaker 4: in order to get the world up and running, partly
Speaker 4: so they would be a good market for our goods,
Speaker 4: accepted a certain amount of protectionism. Otherwise we would have
Speaker 4: overwhelmed and they never would have gotten up on their feet.
Speaker 4: Did I just say, feats Back to our theme anyway, So,
Speaker 4: like so many other things that lasted for a very
Speaker 4: very long time past the point, and I'm looking at you, China,
Speaker 4: to some extent, India, Vietnam, all those countries, they're now
Speaker 4: up and running economically speaking. They don't need a toddler
Speaker 4: seat anymore. And the problem is, while the corporations and
Speaker 4: corporate boards and stockholders, including myself, have been making lots
Speaker 4: and lots of money on American companies profits because they've
Speaker 4: offshored their labor and saved a ton of money, made
Speaker 4: goods cheaper for everybody, the American worker has taken the
Speaker 4: short end of that stick. And the argument from the
Speaker 4: so called free traders has always been, well, you know,
Speaker 4: we're all going to benefit rising tide lifts, so ali
Speaker 4: boats blah blah blah blah. But they never talked about
Speaker 4: the incredible tariffs on US goods being exported, and so
Speaker 4: the global export market has been really stunt it for us.
Speaker 4: That's part of the reason we've lost manufacturing jobs. But
Speaker 4: the big corporations, they have free movement globally. They can
Speaker 4: move any of their inputs and outputs to wherever they
Speaker 4: want within reason shipping blah blah blah.
Speaker 1: But the American worker can't. And so it is time.
Speaker 4: It's far past time to reset global trade in a
Speaker 4: way that isn't putting everybody put us in.
Speaker 1: A toddler seat.
Speaker 4: I got another question that only a dumb guy would ask.
Speaker 4: So I'm the perfect man for the job, but I'll
Speaker 4: do it after we start the official the show. Officially,
Speaker 4: I'm Jack Armstrong. He's Joe Getty on this It is Thursday,
Speaker 4: April third, the year twenty twenty five. We are armstrong
Speaker 4: in getting we approve of this program thirty five percent
Speaker 4: tariff if we start the show late.
Speaker 1: Oh jeez, I didn't know that.
Speaker 5: I know.
Speaker 4: Here we go officially according the FCC rules, rags at mark.
Speaker 2: For decades, our country has been looted, pillage, raped, and
Speaker 2: plundered by nations near and far, both friend and foe.
Speaker 2: Like our country and its taxpayers been ripped off for
Speaker 2: more than fifty years. But it is not going to
Speaker 2: happen anymore.
Speaker 1: It's not going to happen.
Speaker 6: So yeah, and we'll go through the list of the
Speaker 6: different countries and all that sort of stuff, and some
Speaker 6: of his charts is pretty interesting, and like I said,
Speaker 6: this is for real giant news story, like what's an
Speaker 6: iPhone gonna cost with the added multiple percentage tariffs thrown
Speaker 6: on there.
Speaker 1: But here's one of my questions.
Speaker 4: So two of my favorite products in the world, Levi's
Speaker 4: jeans and Converse shoes. I've got pairs of Levi's and
Speaker 4: Converse that were made in the United States, because it
Speaker 4: wasn't that long ago that Chucks were made in the
Speaker 4: United States, think until the nineties. I don't know when
Speaker 4: Levi's stopped early two thousands. Why was it profitable to
Speaker 4: make Levi's in the United States and Converse in the
Speaker 4: United States up until not that long ago?
Speaker 1: And then it and then they didn't.
Speaker 4: A handful of things technical and infrastructure capability is really
Speaker 4: really risen up in the third.
Speaker 1: World world in the last thirty years, say a lot.
Speaker 1: In both cases, the quality went down a lot.
Speaker 4: Yeah, yeah, and shipping efficiencies increased too. But right, there's
Speaker 4: been a long running experiment because it's all about profit margin.
Speaker 4: Not to get too complicated with this crap because it's
Speaker 4: boring for one thing, but there's a long running experiment.
Speaker 4: Can we make twenty dollars on one hundred dollars product?
Speaker 4: What if we really lower our costs in the Third
Speaker 4: World and sell a seventy dollars product, but instead of
Speaker 4: making twenty.
Speaker 1: Dollars, we're making twenty one dollars on it.
Speaker 4: Will Americans accept that seventy dollars pair of Converse shoes
Speaker 4: and the answer has been to a large extent, yes,
Speaker 4: all right, So some of it is cultural, I think,
Speaker 4: and this doesn't get discussed enough. The idea that there
Speaker 4: used to be like a great pride in Levi's were
Speaker 4: really high quality genes. Converts were I don't know how
Speaker 4: quality they were, but they were better than they are now,
Speaker 4: I guarantee because I've had both kinds. But Levi's were
Speaker 4: really high quality jeens and like a lot of high qualities.
Speaker 4: What was the American TV company, Magnavox or whatever it was,
Speaker 4: They made high quality. But I think there was a
Speaker 4: belief that you got to make a real high quality product,
Speaker 4: and then everybody found out. Unfortunately, as I've complained about
Speaker 4: for years, a lot of people are willing to buy crap.
Speaker 4: Mostly by jeans are crap. They're just a crappy product.
Speaker 4: They're really cheap, but they're crap. H They sell the
Speaker 4: premium brand. I don't hope their lawyers aren't up yet.
Speaker 4: There's an eddatorial opinion.
Speaker 1: Damn it.
Speaker 4: I'm not allowed to review a product as they just
Speaker 4: chose a guy in the media and I'm reviewing the
Speaker 4: product is crap. They make a premium brand that is
Speaker 4: like Levi's used to be not that many years ago,
Speaker 4: and they're real expensive, but they're they're high quality, they're
Speaker 4: real good.
Speaker 1: They can make them.
Speaker 4: They just figured out people are willing to buy tissue
Speaker 4: paper pants that will fall apart for a lower price,
Speaker 4: and it don't Speaking of this society, that all boils down.
Speaker 4: I think to the fact that we're a immediate gratification
Speaker 4: society in a way that was absolutely not true thirty
Speaker 4: forty fifty years ago.
Speaker 1: Cultural thing. I wonder how long it would take to
Speaker 1: get out of that. Ah, yeah, or ten dollars.
Speaker 4: You should pay one hundred dollars for a toaster and
Speaker 4: you have it for the next thirty years. You give
Speaker 4: it to your kids when you croak, right, but you
Speaker 4: don't you pay like I do. You pay twenty five
Speaker 4: dollars for a toaster and it's crap, the handle breaks
Speaker 4: off eventually or whatever.
Speaker 1: Yeah, you're renting it. We should, We should get on.
Speaker 4: We got to Katie's headlines on the way, and a
Speaker 4: lot more than I'd like to hear from you on
Speaker 4: these topics. Text line four one, five, two nine five KFTC.
Speaker 4: What do you guys talk about on your show? I've
Speaker 4: never heard it in tariff's mostly mostly talk about tariff, Yeah,
Speaker 4: tax rates and tariffs mostly, I mean in general. Yea
Speaker 4: very fun I was very maga last segment. The other
Speaker 4: side of the coin coming.
Speaker 1: Up a little bit later.
Speaker 4: There's another side of the coin, of course, there is,
Speaker 4: just you know, but we'll talk about that then.
Speaker 1: I let's figure out who's reporting what.
Speaker 4: It's the lead story with the delightful Katie Green Katie delighted.
Speaker 7: Oh thank you, well, because it's of all that anybody's
Speaker 7: talking about ABC. World leaders blast Trump tariffs as markets slump.
Speaker 4: Yeah, right, world leaders, fine, Yeah, it would be more
Speaker 4: fair if everybody included what Joe mentioned, what Trump mentioned yesterday.
Speaker 1: These other countries have been tariff in the hell out
Speaker 1: of US forever. So how many of you knew that?
Speaker 4: For one thing, European Union, for instance, thirty nine percent
Speaker 4: tariff's chart on the US thirty nine percent. We're bringing
Speaker 4: them up now to twenty percent.
Speaker 1: Oh half of what they're charging. It's a trade war.
Speaker 3: From Bridbart dot Com.
Speaker 7: Hiring accelerates in March despite tariff hysteria, adding one hundred
Speaker 7: and fifty five thousand jobs.
Speaker 1: Awesome wow.
Speaker 7: From Fox News Columbia University students chain themselves. It's a
Speaker 7: gate in them there up Khalil's detention by eyes.
Speaker 1: Add another chain that they don't have the key to.
Speaker 4: Yeah, confiscate their keys. Good luck, Good luck kids. Hey,
Speaker 4: you came here to learn, You're about to learn something. Yeah,
Speaker 4: we'll come back and check on your bones in six months.
Speaker 7: From the New York Times, Amazon said to make bid
Speaker 7: to buy TikTok.
Speaker 3: In the United States.
Speaker 4: Really, okay, we're wondering about how what kind of last
Speaker 4: minute deal could happen with TikTok, the world's second richest man, who,
Speaker 4: for whatever reason, doesn't get labeled with that. You're not
Speaker 4: evil if you're the second richest man in the world.
Speaker 4: Only if you're the richest man in the world, but
Speaker 4: the second richest man in the world thinking how I
Speaker 4: can afford to buy TikTok and make a ton of
Speaker 4: money off this thing? Boy, if you want to see
Speaker 4: an epic poos storm, you got the tariff thing going on,
Speaker 4: we bomb Iran and TikTok goes dark. You've got Wall
Speaker 4: Street screaming its head off, You've got young wasting their
Speaker 4: time America screaming it's head off. And then you know
Speaker 4: the left, and some of the said, well, so let's
Speaker 4: maybe we have wait a week on some of this.
Speaker 3: And this is written as a SOB story.
Speaker 7: From the Washington Post, a trans girl was banned from
Speaker 7: her track team. Now she's competing with the boys.
Speaker 4: Oh so a boy is competing with the boys. That
Speaker 4: is heartbreaking. Wow, shut up, WAPO, cut the crap. Huh,
Speaker 4: I'm going back to my old slogan didn't really catch on.
Speaker 1: I'm gonna try again.
Speaker 3: Brace Yourselves From The New York Post.
Speaker 7: Mom mortified when Toddler eats cremated grandfather's ashes.
Speaker 4: Oh, well, you know, you know that sounds like a
Speaker 4: ritual you would do in some you know, other culture
Speaker 4: that we find beautiful and mysterious. First Blush was discussing
Speaker 4: it's second Blush, it's kind of cool.
Speaker 1: Circle of lifeish, it's.
Speaker 4: Gonna have some odd poops though for a while. Oh
Speaker 4: will Will Junior.
Speaker 7: Finally, the Babylon Bee Corey Booker hosts twenty five hour
Speaker 7: PSA on the dangers of crystal meth.
Speaker 4: Boy, did that little stunt do nothing? We didn't mention
Speaker 4: it shouldn't have been mentioned. Not mentionable. Joe's going to
Speaker 4: talk about the other side of.
Speaker 1: The tariff thing. Yeah, there, it could be a downside
Speaker 1: among other things on the way. I hope you can
Speaker 1: stay here, armstrong and getty.
Speaker 8: My advice to every country right now is, do not retaliate,
Speaker 8: Sit back, take it in, let's see how it goes,
Speaker 8: because if you retaliate, there will be escalation if you
Speaker 8: don't retaliate.
Speaker 1: This is the high water mark. I like it. I
Speaker 1: like a threat.
Speaker 4: So the Mirroweeney's the big tariffs have been set by Trump.
Speaker 4: A trade war has begun, reversing the trend of the
Speaker 4: last seventy years post WW two, and nobody wants to admit,
Speaker 4: as we were discussing earlier, that the other countries have
Speaker 4: been tariffing.
Speaker 1: The hell out of us. We just haven't reciprocated.
Speaker 4: And Trump, and I agree with him, has said, hey,
Speaker 4: the era for that is over. We need reciprocal tariff.
Speaker 4: You're gonna hit us with twenty percent, We're gonna hit
Speaker 4: you with something not even twenty percent, and it's discounted,
Speaker 4: as he called it. And it's indisputable that we've been
Speaker 4: sending American jobs overseas and buying cheap foreign crap and
Speaker 4: putting our manufacturers out of business. Well, the numbers he
Speaker 4: hit with was yesterday were Jesus, did my tongue get
Speaker 4: cut off? The numbers he hit us with yesterday were
Speaker 4: lower than people were expecting, were they not.
Speaker 1: That's why I saw on a bunch of headlines.
Speaker 4: Yes, yeah, yeah, And we'll get into the actual numbers
Speaker 4: the anti MAGA point of view in summary, and this
Speaker 4: is also correct.
Speaker 1: He's hitler. Not that part that's not correct. The argument
Speaker 1: is that.
Speaker 4: It would take a very long time of very consistent
Speaker 4: higher tariffs to revive American manufacturing in the way Trump
Speaker 4: and JD.
Speaker 1: Vans are talking about, for instance.
Speaker 4: And that's because it takes a corporation a long time
Speaker 4: to plan a new plant, never mind to build a
Speaker 4: damn thing, finance it and get it up and run
Speaker 4: it into actually producing, and then there's a certain time
Speaker 4: before it's profitable because you'd poured so much.
Speaker 1: Money into and your prices would be higher.
Speaker 4: If Converse brought making Converse shoes back to the United States,
Speaker 4: it'd be the all the things you just mentioned. Yeah,
Speaker 4: I'm gonna build a plant somewherewhere break ground, environmental reviews,
Speaker 4: all those things. Build a plant and then start selling
Speaker 4: them and they would cost more. So can it work
Speaker 4: out and exactly the way Trump is promising. That's a
Speaker 4: tough sled, really really tough. But that doesn't mean it's
Speaker 4: all a bad idea. Again, everybody else has had training
Speaker 4: wheels post WW two. Take a look at China, India,
Speaker 4: you know, Vietnam. We've mentioned the European Union. For god's sake,
Speaker 4: it's not nineteen forty five. They seem to have rebuilt.
Speaker 4: So it's time for a new trade structure. Either of
Speaker 4: the Honduras. I'm looking at you. So let's get some
Speaker 4: arguments for and against and help you understand the different
Speaker 4: points of view. There is right on both sides. And
Speaker 4: you know, a lot of people are rushing to make predictions.
Speaker 4: It's a it's silly to even try to make predictions
Speaker 4: about next week, never mind, you know, way down the road,
Speaker 4: because we have no idea how they're going to react,
Speaker 4: for one thing, these other countries, and they're going to
Speaker 4: react individually. I imagine some of them are going to immediately
Speaker 4: change their tariff structure out of fear. Some of them
Speaker 4: are going to hold their ground. Yeah, Canada, Israel, Indiana,
Speaker 4: I'll find the complete list have said, no, we're not retaliating.
Speaker 1: We'll work this out. It'll be fine. So where this
Speaker 1: is next month, on the third of the month. Nobody knows.
Speaker 4: So anyway, some arguments pro we heard Scott Bessen't they're
Speaker 4: the Secretary of the Treasury saying, don't you be retaliating,
Speaker 4: or we'll give you a good slap down.
Speaker 1: Here's Howard.
Speaker 4: Yes, maybe be a good idea to go to the
Speaker 4: last Secretary of the Treasury, Janet yelling right after we
Speaker 4: just heard from Besson. Sure different, Yeah, fifty Will American
Speaker 4: consumers bear the cost of these tariffs?
Speaker 1: I don't believe that American consumers will see any meaningful
Speaker 1: increase in the prices that they face.
Speaker 4: That was in twenty twenty four. Okay, gotcha. Oh that's interesting. Yeah, yeah,
Speaker 4: I'd like to hear a little more. But the Secretary
Speaker 4: of Commerce, Howard Lutnick, is beating the bushes and making
Speaker 4: speeches and appearing on media as well. Fifty two, please, Michael.
Speaker 5: Your opinion. Won't take chicken from America. They won't take
Speaker 5: lobsters from America. They hate our beef because our beef
Speaker 5: is beautiful and theirs is weak.
Speaker 1: It's unbelievable. They won't.
Speaker 5: We can't sell corn to India. We can't sell rice
Speaker 5: to Asia.
Speaker 4: Okay, you used two adjectives for beef that nobody ever uses.
Speaker 1: How's your beef? How's your steak? Beautiful? Mine's kind of weak?
Speaker 4: What he's a New Yorker? They talked differently. Give us
Speaker 4: one more, Howard Ludnik there and Michael.
Speaker 5: Finally, finally, the man behind the resolute desk, the man
Speaker 5: in the Oval office, Donald Trump is finally standing up
Speaker 5: for our farmers, our ranchers, and our manufacturers to let
Speaker 5: the world understand either they're buying our products or don't
Speaker 5: bother coming here unless you're paying for the right to come.
Speaker 1: It doesn't sound that crazy, no.
Speaker 4: The Wall Street Journal, the big headline last night was
Speaker 4: Trump's message is clear. The era of globalization is over,
Speaker 4: like you've been saying. The problem is it takes a
Speaker 4: long time to unwind that. Can you do it in
Speaker 4: the three and a half years before the next person
Speaker 4: comes in and possibly reverses all of it? Right, Maybe
Speaker 4: one of those situations where you make as much progress
Speaker 4: as as is possible. It's not gonna be all the
Speaker 4: way to where we ought to be but some progress.
Speaker 4: Let's hear from the head guy himself. Give us a
Speaker 4: forty seven in thirty one thirty two, back to back
Speaker 4: forty seven meaning the president as I called for clips.
Speaker 4: That was a confusing reference, and I apologize for it.
Speaker 1: Hit it.
Speaker 4: Thirty one and thirty two. Michael, dammit, thirty one and
Speaker 4: thirty Now I'm yelling at him.
Speaker 2: For decades, our country has been looted, pillage, raped, and
Speaker 2: plundered by nations near and far, both friend.
Speaker 1: And foe like.
Speaker 2: Our country and its taxpayers have been ripped off for
Speaker 2: more than fifty years. But it is not going to
Speaker 2: happen anymore.
Speaker 1: It's not going to happen.
Speaker 2: In a few moments, I will sign a historic executive
Speaker 2: order instituting reciprocal tariffs on countries throughout the world.
Speaker 1: Reciprocal.
Speaker 2: That means they do it to us and we do
Speaker 2: it to them.
Speaker 1: Very simple.
Speaker 2: Can't get any simpler than that.
Speaker 4: So I'm maybe maybe you're speaking to the perfect audience,
Speaker 4: dumb guy me who doesn't understanding this sort of stuff.
Speaker 4: I don't understand the trade war talk. If they've been
Speaker 4: doing it to us forever like that, I didn't know
Speaker 4: the tariffs were this high, and all these different countries
Speaker 4: for our stuff going over there, poor ehemplo, as they
Speaker 4: would say, in the plants that are manufacturing our cars
Speaker 4: in Mexico. European Union hits US with thirty nine percent
Speaker 4: tariffs on our goods. The ones they let in, they
Speaker 4: won't let in our beautiful beef, for instance, thirty nine
Speaker 4: percent of.
Speaker 1: Beef that they do, sir.
Speaker 4: The new trade warry US tariffs on the European Union
Speaker 4: not thirty nine percent, but twenty percent. The US counted
Speaker 4: reciprocal tariffs twenty percent, so that is virtually exactly half
Speaker 4: of what they're charging.
Speaker 1: Us a trade war. Trump started a trade war.
Speaker 4: Well, like, so I would like this explained to me
Speaker 4: by somebody smart, because I'm probably missing something. This is
Speaker 4: not my area. But uh ah, how was it supposed
Speaker 4: to go on like this forever? Y? Yes, until it
Speaker 4: affected the stock prices and bottom lines of the major
Speaker 4: corporations that profit from it, because they knew what to expect, so.
Speaker 1: It was factored into their business plan.
Speaker 4: But we're supposed to let Europe have a tariff of
Speaker 4: almost forty percent forever and we don't?
Speaker 1: Yes, why I know, I agree with you? And if
Speaker 1: it would end, you know, the whole thing.
Speaker 4: If it can't go on forever, it must end that
Speaker 4: I love, it can't go on forever like that, Well, at.
Speaker 1: What point was it going to end? Who is going
Speaker 1: to do it?
Speaker 4: Vietnam hits US with ninety percent tariffs. Oh man, the
Speaker 4: new discounted tariffs against their goods forty six percent. You
Speaker 4: got to go back to start to trade war. We
Speaker 4: gotta go back.
Speaker 1: Oh, that's not even funny. Taiwan. Wait, wait, wait, wait,
Speaker 1: wait a minute, Taiwan.
Speaker 4: The only reason shesion Ping isn't nude sunbathing on their
Speaker 4: beaches right now is our armed forces and the thread
Speaker 4: of using them, which nobody knows would have if it
Speaker 4: would happen or not.
Speaker 1: Taiwan hits US with sixty.
Speaker 4: Four percent our friends, now we're going to hit them
Speaker 4: with thirty two percent.
Speaker 1: Trump starting a trade war?
Speaker 4: Wellis seriously, I would love to take a class and
Speaker 4: somebody explained to me why that was okay to continue
Speaker 4: that way? Right the Well, the incentives to change the
Speaker 4: post WW two norms just haven't been strong enough for
Speaker 4: the actual people who run the world, the money guys,
Speaker 4: to be in favor of it. They would rather know
Speaker 4: what the numbers are, as I said, fashion the business
Speaker 4: plan accordingly and make their profits. This is everything up
Speaker 4: in the air. They can't plan. They don't know where
Speaker 4: and how to invest, which has got them very frightened.
Speaker 4: And that's why the stock market's doing what it's doing.
Speaker 1: I haven't checked lately. Actually it bounds back down twelve
Speaker 1: hundred last moment I saw. Oh, anyway, that's the problem.
Speaker 1: It's not that this is bad policy.
Speaker 4: It's that it is a significant change and be a
Speaker 4: whole load of uncertainty.
Speaker 1: That uncertainty will not last forever.
Speaker 4: But the dust absolutely does need to settle before anybody
Speaker 4: knows what direction this is likely to move. It can't
Speaker 4: be the founder's intent that one guy can make this decision,
Speaker 4: though is It seems like an awful big decision to
Speaker 4: be in the hands of one person.
Speaker 1: Ladies and gentlemen.
Speaker 4: Take to ladies and gentlemen, I give you the curly
Speaker 4: headed gentleman from Kentucky Senator and Paul clip fifty Michael.
Speaker 9: Tariffs have also to political decimation d McKinley most famous,
Speaker 9: they put tariffs on in eighteen ninety. They lost fifty
Speaker 9: percent of their seats in the next selection when Haigh
Speaker 9: smoothly put on their tariff in their early nineteen thirties
Speaker 9: and lost the House in the Senate for sixty years.
Speaker 9: So they're not only bad economically or they're bad politically.
Speaker 4: That's funny. I heard him making the point you just
Speaker 4: made that. The Constitution says the power to tax is
Speaker 4: invested in Congress period. The tariff thing in a national
Speaker 4: emergency gives the president a fair amount of discretion. But
Speaker 4: I am really really troubled by one person, any person,
Speaker 4: having this much power. That's another one of the downsides
Speaker 4: to this. I mean, good lord, you get a you know,
Speaker 4: Biden has gone and soon to be forgotten.
Speaker 1: But the next Democrat wack.
Speaker 4: Adoodle that gets in there, who knows what they'll decide,
Speaker 4: and just whipsaw trade in a different direction for whatever reason.
Speaker 4: I think Trump's motivations are honestly a righteous and b
Speaker 4: long term in a way we have not seen for
Speaker 4: a very long time.
Speaker 1: That does not mean it's gonna work.
Speaker 4: No, And we have an election every two years. That's
Speaker 4: not very long, Termy. Wall Street is a quarter by
Speaker 4: quarter situation, so that's not very long, Termy. Yeah, South
Speaker 4: Korea hits US with fifty percent tariffs fifty percent, We're
Speaker 4: now going to hit them with I lost it.
Speaker 1: Twenty five percent. Well more people should.
Speaker 4: Be aware that in Japan, which is what the fourth
Speaker 4: biggest economy in the world, they make it so expensive
Speaker 4: to buy a car from America that they drive almost
Speaker 4: entirely cars made in their own country. And that's okay,
Speaker 4: but us to do anything similar as a who trade war?
Speaker 1: Trump started a trade war.
Speaker 4: We need black bombs going off sounds and the ahuga
Speaker 4: and stuff.
Speaker 1: Can somebody mix that together? Okay? So that's my number
Speaker 1: one question.
Speaker 4: So somebody's listening right now has got a PhD in
Speaker 4: economic or you know, you do this for a living
Speaker 4: or something. Here's my number one question for the day.
Speaker 4: If you're a free trader, why does that not include
Speaker 4: the almost fifty percent tax coming out of Europe or
Speaker 4: tariff on their side. Don't get me started about boatswana bastards.
Speaker 4: So never turn your back on a Boatswanan. Huh seventy
Speaker 4: four percent? Yeah, in what sense is that free trade?
Speaker 4: It's free trade into the United States because that is
Speaker 4: my biggest market, that's what they mean. And we you know,
Speaker 4: we've got the most dominant economy on the planet for
Speaker 4: a very very long time. Egypt ten percent and we
Speaker 4: hit them with ten percent. Feel free to walk like
Speaker 4: an Egyptian if you choose too. They're free traders like ourselves.
Speaker 1: Madagascar. How much trade do we do with Madagascar?
Speaker 6: You know?
Speaker 4: Another thing that I find kind of funny. Then we
Speaker 4: got to take a break, shoot and get the mail bag.
Speaker 4: Is everybody's described as ourumber one trading partner. I've heard
Speaker 4: that applied to like nine different entities, not Boatswana, the Factors, Canada, Mexico, Europe, China,
Speaker 4: whoever they mentioned. So is there a number one trading partner?
Speaker 4: And I guess like within a certain segment or it
Speaker 4: must be I don't even know, but yeah, I know
Speaker 4: what you mean. It reminds me of one time a
Speaker 4: tour came through the radio. There's six radio stations here
Speaker 4: and a tour came through and then somebody mentioned every
Speaker 4: radio station. We looked at the person said, we're the
Speaker 4: number one radio station, and I thought, well, that's because
Speaker 4: you know, you're number one young women, you're number one,
Speaker 4: older men, you're number one all adults, you're number one
Speaker 4: whatever you break it down, and me you call yourself
Speaker 4: number one, which is fine.
Speaker 1: That must be the similar with the trade must be
Speaker 1: must be.
Speaker 4: Okay, we've got mail bag on the way, stay here.
Speaker 2: Looted, pillage, raped and plundered.
Speaker 4: The old LPRP. You hate to have that going on.
Speaker 4: It's a country pillaged, draped and plundered. He could leave
Speaker 4: the R word out. It's a little harsh.
Speaker 9: Yeah.
Speaker 4: Yeah, here's your freedom loving quote of the day from
Speaker 4: the great Chinese businessman.
Speaker 1: Jack Mom who's in prison. He's disappeared. Nobody's is probably
Speaker 1: on the begion.
Speaker 4: We should keep going along the path of globalization. Globalization
Speaker 4: is good. When trade stops, war comes, then you've got.
Speaker 1: Donald J. Trump.
Speaker 4: Every decision on trade, on taxes, on immigration, on foreign
Speaker 4: affairs will be made to benefit American workers and American families.
Speaker 4: We must protect our borders from the ravages of other
Speaker 4: countries making our products, stealing our companies, and destroying our jobs.
Speaker 4: Protection will lead to great prosperity and strength. There is
Speaker 4: going to be something culturally. This is gonna be damned
Speaker 4: interesting to watch. As prices go up. Do people think, okay,
Speaker 4: long term this will benefit or are they just immediately
Speaker 4: screw this boo Trump's eighteen percent approval.
Speaker 1: Great deal.
Speaker 4: More to be said next hour, hoping stay tuned, mail
Speaker 4: EG tromps, Nope mail bag at Armstrong you giddy dot.
Speaker 4: A number of people wanting to comment on our fascinating
Speaker 4: discussion of Ezra Kline explaining the progressive world view yesterday.
Speaker 4: If you didn't listen to it, grab it via podcast
Speaker 4: Armstrong you're getting on demand just a quick clip of
Speaker 4: mister Klein.
Speaker 10: You can define the left in different ways. I think
Speaker 10: the left has a couple fundamental views. One is it
Speaker 10: life is unfair. We are born with different talents, we
Speaker 10: are born into different nations.
Speaker 1: Right.
Speaker 10: The luck of being born into America is right, different
Speaker 10: than the luck of being born into Venezuela.
Speaker 4: And therefore they have the duty to equalize everything. Because
Speaker 4: you didn't build that, you were just lucky, etc. That
Speaker 4: was his next line. If you're successful, you didn't do that.
Speaker 4: By the way, vocal you as vocal Fryan a teenage girl. Mmmmm,
Speaker 4: vocal frying a grown ass man needs a slapping wow. Anyway,
Speaker 4: Don writes, if you read only one of my emails
Speaker 4: in your entire life, this is the one.
Speaker 1: I want you to be aware of that's a good opening.
Speaker 4: Yeah, Dan, Ezra didn't outright say it, but he's addressing
Speaker 4: your point about people's life decisions when he says life
Speaker 4: is unfair. Here's the scary Jack made the point that
Speaker 4: they never talk about life decisions and we've all made
Speaker 4: good ones and bad ones. Right, here's the scary, crazy point.
Speaker 4: He's not saying out loud because he can't defend it
Speaker 4: and would make him sound like a lunatic. He does
Speaker 4: not believe in free will. Trust me, my brother and
Speaker 4: his girlfriend are liberal, highly educated. When having a political
Speaker 4: debate with me, they spat out Ezra's crazy worldview almost
Speaker 4: word for word. When I brought up your point that
Speaker 4: everyone makes decisions in life that greatly affects their outcomes,
Speaker 4: they defended their position with this, There is a crazy
Speaker 4: neo Marxist ideology going around with the progressives right now,
Speaker 4: that we didn't make our own decisions, it was all
Speaker 4: predetermined or destined. What they straight up said that to me,
Speaker 4: I just got lucky in that every so called decision
Speaker 4: I made in my life was predetermined because of I
Speaker 4: think they would say his genetic makeup. Well, if you
Speaker 4: believe that because of God, your nut job to those people.
Speaker 4: But if you believe it through Marxism, it makes sense.
Speaker 4: You know, we need to bring this up again. There's
Speaker 4: much more said, hell of a topic. It all fits
Speaker 4: together under the umbrella of what I would call learned dependency,
Speaker 4: which is a huge part of the leftist political philosophy.
Speaker 4: They teach people to be devoid of free will, devoid
Speaker 4: of self determination agency as they call it, and to
Speaker 4: be dependent on them.
Speaker 1: Boy, we have a lot today.
Speaker 4: If you miss a segment, get the podcast Armstrong and
Speaker 4: Getty on demand Armstrong and Getty