1 00:00:00,880 --> 00:00:05,120 Speaker 1: Welcome everybody to the Monday edition of the Clay Travis 2 00:00:05,200 --> 00:00:08,880 Speaker 1: en Buck Sexton Show. There's this thing going on called 3 00:00:09,000 --> 00:00:14,960 Speaker 1: tariffs and a discussion around it. Stock market is in 4 00:00:15,000 --> 00:00:19,639 Speaker 1: some interesting moments here, going up, going down, going up, 5 00:00:19,680 --> 00:00:23,360 Speaker 1: going down. We will break this down for you, and 6 00:00:24,040 --> 00:00:27,760 Speaker 1: it's all gonna be all right. Trump has it, keep 7 00:00:27,800 --> 00:00:29,880 Speaker 1: the fake he said, there's gonna be a little bit 8 00:00:29,920 --> 00:00:32,800 Speaker 1: of pain, and he's definitely not backing off of this. 9 00:00:32,880 --> 00:00:34,920 Speaker 1: With the people that are whining about it. It will 10 00:00:34,960 --> 00:00:38,479 Speaker 1: fall on deaf ears. We shall discuss what this is 11 00:00:38,840 --> 00:00:43,440 Speaker 1: likely to do, what the ramifications are, a whole lot 12 00:00:43,520 --> 00:00:45,320 Speaker 1: of stuff. Look, the biggest story in the world right 13 00:00:45,360 --> 00:00:48,159 Speaker 1: now because it affects the American economy, the global economy 14 00:00:48,200 --> 00:00:51,400 Speaker 1: is clearly Trump's tariffs. We've also got a little bit 15 00:00:51,440 --> 00:00:57,040 Speaker 1: of stuff about Fauci, some other things, some transgender sports madness, 16 00:00:57,080 --> 00:00:58,800 Speaker 1: some other things that we will get you later on 17 00:00:58,880 --> 00:01:02,360 Speaker 1: the program. But the economy is on everyone's mind right now. 18 00:01:02,400 --> 00:01:06,600 Speaker 1: It is absolutely number one, and let's just start to 19 00:01:06,640 --> 00:01:10,280 Speaker 1: talk about where this is. So some tariffs are set 20 00:01:10,319 --> 00:01:15,120 Speaker 1: to go into effect, well when they go into effect 21 00:01:15,160 --> 00:01:16,720 Speaker 1: and how they go into effect is a big part 22 00:01:16,720 --> 00:01:18,920 Speaker 1: of this conversation. But we know that we had our 23 00:01:19,080 --> 00:01:23,160 Speaker 1: Liberation Day last week. On the good side of things. 24 00:01:23,360 --> 00:01:28,040 Speaker 1: Right now, you have a whole bunch of countries, something 25 00:01:28,080 --> 00:01:31,360 Speaker 1: like fifty countries have already reached out to President Trump saying, look, 26 00:01:32,040 --> 00:01:35,880 Speaker 1: let's negotiate on these tariffs. Let's have a conversation about 27 00:01:35,880 --> 00:01:39,000 Speaker 1: what's best for you, what's best for us, and work 28 00:01:39,400 --> 00:01:43,920 Speaker 1: constructively going forward. Taiwan has already said that it will 29 00:01:43,959 --> 00:01:49,160 Speaker 1: eliminate all tariffs, so has India, Israel, Vietnam, Cambodia. They 30 00:01:49,200 --> 00:01:53,520 Speaker 1: are going to zero tariffs, zero trade barriers. Now, for 31 00:01:53,520 --> 00:01:55,120 Speaker 1: a lot of people, you might stop and say, hold 32 00:01:55,160 --> 00:01:58,240 Speaker 1: on a second, why did Israel have tariffs? Why did 33 00:01:58,280 --> 00:02:01,440 Speaker 1: Taiwan have just oh, that's right, everyone else has them 34 00:02:01,440 --> 00:02:03,800 Speaker 1: except for us. Is the way things have effectively been 35 00:02:03,880 --> 00:02:07,200 Speaker 1: working for a long time pretty much everybody else but 36 00:02:07,760 --> 00:02:11,040 Speaker 1: Clay is as a little bit of a choppy day 37 00:02:11,080 --> 00:02:12,560 Speaker 1: in the market, So I understand a lot of you 38 00:02:12,639 --> 00:02:14,600 Speaker 1: aren't day trading, a lot of you probably don't even 39 00:02:15,120 --> 00:02:19,040 Speaker 1: actively manage accounts in the stock market at all, but 40 00:02:19,360 --> 00:02:23,440 Speaker 1: four oh one ks and pension plans. 41 00:02:23,120 --> 00:02:25,080 Speaker 2: Rely on the stock market. You have to keep that 42 00:02:25,120 --> 00:02:25,600 Speaker 2: in mind. 43 00:02:26,080 --> 00:02:30,600 Speaker 1: There's Also, what happens when you have an economy, A 44 00:02:30,639 --> 00:02:34,160 Speaker 1: lot of it is built on consumer spending. If people 45 00:02:34,200 --> 00:02:36,920 Speaker 1: feel like they're getting poorer, even if they're not at 46 00:02:36,960 --> 00:02:40,000 Speaker 1: the top, there will be less spending, which can result 47 00:02:40,040 --> 00:02:47,000 Speaker 1: in less less investment, unemployment. You know, things can go wrong, Clay, 48 00:02:47,000 --> 00:02:49,200 Speaker 1: I'm just gonna put it out this way. Trump said 49 00:02:49,200 --> 00:02:51,720 Speaker 1: he was going to do it. He's doing it. I 50 00:02:51,720 --> 00:02:53,960 Speaker 1: think he's I think he's earned the trust of the 51 00:02:54,000 --> 00:02:55,639 Speaker 1: American people, or should have earned the trust of the 52 00:02:55,680 --> 00:02:57,440 Speaker 1: American people when it comes to the economy. 53 00:02:57,919 --> 00:02:59,720 Speaker 2: He said that this is going to be a little 54 00:02:59,760 --> 00:03:00,919 Speaker 2: rock to get going. 55 00:03:01,040 --> 00:03:04,560 Speaker 1: But he has a strategy, a plan in mind, and 56 00:03:04,600 --> 00:03:09,440 Speaker 1: he's just telling everybody very clearly, don't be a what 57 00:03:09,480 --> 00:03:12,800 Speaker 1: was the word, like a panic, a panickin or something 58 00:03:12,880 --> 00:03:16,400 Speaker 1: like that, like, yes, the new the New Panic Party says, 59 00:03:16,560 --> 00:03:17,440 Speaker 1: just stay the course. 60 00:03:17,520 --> 00:03:20,160 Speaker 2: It's gonna be fine. Take the pain. 61 00:03:20,880 --> 00:03:24,080 Speaker 1: For those who see it as something that's very dangerous 62 00:03:24,080 --> 00:03:26,959 Speaker 1: for the stock market, it will rebound and everything's gonna 63 00:03:26,960 --> 00:03:27,400 Speaker 1: be okay. 64 00:03:27,400 --> 00:03:27,960 Speaker 2: What say you. 65 00:03:30,000 --> 00:03:33,280 Speaker 3: I think the lesson of the Trump era is Trump 66 00:03:33,360 --> 00:03:38,920 Speaker 3: does something, everybody overreacts and says, oh my goodness, this 67 00:03:39,000 --> 00:03:42,360 Speaker 3: is going to lead to eminent disaster, will never recover 68 00:03:42,480 --> 00:03:46,440 Speaker 3: from this. This is unacceptable. And then within a few 69 00:03:46,480 --> 00:03:50,560 Speaker 3: weeks that story has moved on and things have gotten 70 00:03:50,680 --> 00:03:53,600 Speaker 3: typically a little bit better than they were before. To me, 71 00:03:54,280 --> 00:03:59,960 Speaker 3: Trump came in recognizing there were three profoundly important things 72 00:04:00,400 --> 00:04:03,880 Speaker 3: that were going the wrong direction in this country. One is, 73 00:04:04,000 --> 00:04:07,200 Speaker 3: and let's not forget it, the border. The southern border 74 00:04:07,240 --> 00:04:10,600 Speaker 3: is shut down. Joe Biden let ten million illegals in 75 00:04:10,600 --> 00:04:15,480 Speaker 3: in four years. In basically thirty days, Trump completely shut 76 00:04:15,480 --> 00:04:17,920 Speaker 3: down the southern border such that it's no longer a 77 00:04:17,960 --> 00:04:21,680 Speaker 3: story at all. So one of those three big issues. Now, yes, 78 00:04:21,720 --> 00:04:24,719 Speaker 3: there still need to be deportations of violent criminals. 79 00:04:24,720 --> 00:04:26,440 Speaker 2: There's still many illegals. 80 00:04:25,960 --> 00:04:29,719 Speaker 3: Here, we know that, but in terms of making things worse, 81 00:04:30,160 --> 00:04:34,720 Speaker 3: Trump solved the border almost overnight. The other one of 82 00:04:34,760 --> 00:04:37,560 Speaker 3: the three I think is on the right direction. Buck 83 00:04:37,680 --> 00:04:40,159 Speaker 3: thankfully Elon Musk has come in. He has said, we 84 00:04:40,200 --> 00:04:43,960 Speaker 3: have a thirty seven trillion dollar national debt, we cannot 85 00:04:44,000 --> 00:04:47,520 Speaker 3: continue to operate at this level, and we have to 86 00:04:47,640 --> 00:04:50,120 Speaker 3: go in and find waste and fraud in our government. 87 00:04:50,160 --> 00:04:52,320 Speaker 3: And it seems to me that Elon Musk and the 88 00:04:52,400 --> 00:04:54,600 Speaker 3: Doge team have done a good job on that. The 89 00:04:54,640 --> 00:04:56,839 Speaker 3: third is, and Trump has been hammering this since he 90 00:04:56,880 --> 00:04:59,920 Speaker 3: came down the escalator at Trump Tower in twenty fifteen 91 00:05:00,240 --> 00:05:05,240 Speaker 3: that summer. We have a massively unfair global trade economy 92 00:05:05,240 --> 00:05:07,640 Speaker 3: and we have to in some way fix it. And 93 00:05:07,720 --> 00:05:11,200 Speaker 3: that global trade economy unfairness is being driven by China, 94 00:05:11,520 --> 00:05:17,440 Speaker 3: which has dominated against us. So within that construct, this 95 00:05:17,640 --> 00:05:21,320 Speaker 3: is right now the battleground that Trump has chosen, and 96 00:05:21,440 --> 00:05:23,200 Speaker 3: he is fighting it. Let me say a couple of things, 97 00:05:23,240 --> 00:05:26,240 Speaker 3: because I do think it's important your stock prices are 98 00:05:26,279 --> 00:05:30,560 Speaker 3: effectively where they were a year ago. This is true 99 00:05:30,600 --> 00:05:33,680 Speaker 3: whether you're a Democrat, Republican or independent. Do you know 100 00:05:33,760 --> 00:05:37,479 Speaker 3: what people feared the most. It's having something that they 101 00:05:37,520 --> 00:05:40,040 Speaker 3: think they have taken from them. It's one of the 102 00:05:40,080 --> 00:05:43,360 Speaker 3: primary lessons of politics. It's why reform is so difficult 103 00:05:43,440 --> 00:05:47,479 Speaker 3: with anything, because once people would rather if they have 104 00:05:47,560 --> 00:05:51,559 Speaker 3: a dollar in their hand, they fret much more over 105 00:05:51,640 --> 00:05:55,039 Speaker 3: losing that dollar than they do think about how to 106 00:05:55,160 --> 00:05:59,160 Speaker 3: double that dollar. General public right, So a lot of 107 00:05:59,200 --> 00:06:03,120 Speaker 3: people can cons whatever a stock price is to be 108 00:06:03,320 --> 00:06:07,640 Speaker 3: a referendum on at that particular moment in time, their 109 00:06:07,760 --> 00:06:12,400 Speaker 3: overall value. The reality is, unless you are selling, then 110 00:06:12,440 --> 00:06:15,480 Speaker 3: there is no locked in dollar connection to whatever your 111 00:06:15,520 --> 00:06:16,360 Speaker 3: stock prices are. 112 00:06:16,520 --> 00:06:16,719 Speaker 2: Buck. 113 00:06:16,760 --> 00:06:19,160 Speaker 3: This is why I think for a lot of people's 114 00:06:19,200 --> 00:06:23,200 Speaker 3: stocks are poor choice, because the emotion gets the better 115 00:06:23,240 --> 00:06:26,120 Speaker 3: of them. Think about it in terms, Think about it 116 00:06:26,160 --> 00:06:30,159 Speaker 3: in terms of your overall house. You own a home, 117 00:06:30,279 --> 00:06:31,760 Speaker 3: I own a home. I bet a lot of you 118 00:06:31,839 --> 00:06:37,080 Speaker 3: out there have mortgages. Your house price is constantly fluctuating 119 00:06:37,360 --> 00:06:40,000 Speaker 3: based on what interest rates are, based on what mortgage 120 00:06:40,080 --> 00:06:44,760 Speaker 3: rates are. Heck, based on your overall neighborhood. Most people 121 00:06:44,920 --> 00:06:49,120 Speaker 3: don't obsess over the daily fluctuation in the value of 122 00:06:49,160 --> 00:06:52,000 Speaker 3: their house. If you think about that from a stock perspective, 123 00:06:52,320 --> 00:06:54,200 Speaker 3: you know, buying a home tends to be a good 124 00:06:54,200 --> 00:06:57,840 Speaker 3: decision long term. I wish people thought about stocks more 125 00:06:57,920 --> 00:07:01,359 Speaker 3: like they do. Homes would be my general province of advice. 126 00:07:01,680 --> 00:07:04,440 Speaker 1: Well, this is what Warren Buffett said about people lacking 127 00:07:04,520 --> 00:07:08,560 Speaker 1: the emotional stability to own stocks, because he says that 128 00:07:09,120 --> 00:07:11,880 Speaker 1: the day to day price, you know, you can't get 129 00:07:11,920 --> 00:07:13,400 Speaker 1: into that. And he says the same thing as you 130 00:07:13,400 --> 00:07:17,480 Speaker 1: point out about about houses. But here's here's his icate, Clay. 131 00:07:18,120 --> 00:07:22,920 Speaker 1: As as long as this stock thing does not create 132 00:07:22,960 --> 00:07:25,720 Speaker 1: an economic contagion into the broader economy, and just to 133 00:07:25,720 --> 00:07:28,560 Speaker 1: be clear, that can happen. Okay, it's not just I 134 00:07:28,600 --> 00:07:30,840 Speaker 1: don't own stocks, so I don't have to worry about this. 135 00:07:31,000 --> 00:07:32,720 Speaker 1: I see a little bit the people take it a 136 00:07:32,720 --> 00:07:34,360 Speaker 1: little too far on both sides. There are people that 137 00:07:34,440 --> 00:07:37,160 Speaker 1: say that the tariffs like they've brought the market down 138 00:07:37,160 --> 00:07:39,400 Speaker 1: and it's all falling apart. That's not true. But there 139 00:07:39,440 --> 00:07:41,360 Speaker 1: are also people who suggest, well, I don't own stock, 140 00:07:41,440 --> 00:07:44,440 Speaker 1: so why do I care. Well, even if you don't 141 00:07:44,440 --> 00:07:46,360 Speaker 1: own anything in the stock mark or the stock market 142 00:07:46,400 --> 00:07:49,120 Speaker 1: cares about you in a sense, or rather can affect you. 143 00:07:49,600 --> 00:07:53,280 Speaker 1: And that's where you get into things like, you know, 144 00:07:53,320 --> 00:07:55,600 Speaker 1: you can get into the possibility of our real recession, 145 00:07:56,400 --> 00:07:59,800 Speaker 1: reduced hiring, get into stagflation, get into some real problems 146 00:07:59,840 --> 00:08:02,200 Speaker 1: with the I don't see any of that because of 147 00:08:02,240 --> 00:08:06,000 Speaker 1: a few things. One is I still never get a 148 00:08:06,000 --> 00:08:08,360 Speaker 1: good answer as to why do all these countries have tariffs, 149 00:08:08,360 --> 00:08:12,320 Speaker 1: but we don't have tariffs, and we've just somehow figured 150 00:08:12,320 --> 00:08:13,480 Speaker 1: out something that they haven't. 151 00:08:14,160 --> 00:08:14,520 Speaker 2: Really. 152 00:08:15,720 --> 00:08:17,880 Speaker 1: Now, I'm not saying that there aren't trade offs. Our 153 00:08:17,920 --> 00:08:20,120 Speaker 1: price is going to rise, right. We can do a 154 00:08:20,160 --> 00:08:21,680 Speaker 1: little bit of e comm one on one on this, 155 00:08:21,760 --> 00:08:24,880 Speaker 1: our price is going to rise a little bit in 156 00:08:24,920 --> 00:08:29,360 Speaker 1: response to some of these tariffs. Probably the last time 157 00:08:29,440 --> 00:08:31,320 Speaker 1: with the China stuff Whenember they were talking about a 158 00:08:31,320 --> 00:08:34,480 Speaker 1: trade Warclay back in twenty seventeen, twenty eighteen Trump's first term, 159 00:08:34,880 --> 00:08:36,520 Speaker 1: and as Trump has been pointing out, I think this 160 00:08:36,559 --> 00:08:39,760 Speaker 1: is a very important point. Yeah, price of goods overall 161 00:08:39,800 --> 00:08:43,440 Speaker 1: on average from China rise point seven percent, So there's 162 00:08:43,480 --> 00:08:45,079 Speaker 1: a chance that you might have to pay one or 163 00:08:45,120 --> 00:08:48,679 Speaker 1: two percent more for stuff made in China going forward. 164 00:08:48,760 --> 00:08:50,520 Speaker 2: Maybe it's more than that. China and the US are 165 00:08:50,559 --> 00:08:51,040 Speaker 2: the ones. 166 00:08:50,840 --> 00:08:54,520 Speaker 1: That are really at you know, each lock, yeah, locking 167 00:08:54,559 --> 00:08:58,200 Speaker 1: antlers on this one, right, But I never get an 168 00:08:58,240 --> 00:08:59,640 Speaker 1: answer as to why they all have tariffs. 169 00:08:59,679 --> 00:09:00,200 Speaker 2: We don't. 170 00:09:00,800 --> 00:09:04,080 Speaker 1: Also, why are all these countries already coming forward play 171 00:09:04,120 --> 00:09:06,360 Speaker 1: saying they want to negotiate and smooth things out? 172 00:09:06,400 --> 00:09:08,120 Speaker 2: You know that all has to be taken into account. 173 00:09:08,480 --> 00:09:09,280 Speaker 2: And then I just think. 174 00:09:09,120 --> 00:09:12,920 Speaker 1: About this on a on a very fundamental, not even economic, 175 00:09:12,960 --> 00:09:18,600 Speaker 1: a very fundamental philosophical level. If we want momentous change, 176 00:09:19,160 --> 00:09:22,959 Speaker 1: we have to change things momentously. If you want something 177 00:09:23,000 --> 00:09:26,720 Speaker 1: to be a dramatically different outcome, you cannot keep status quo. 178 00:09:27,360 --> 00:09:28,840 Speaker 1: And I think this is one of the things that 179 00:09:28,880 --> 00:09:30,760 Speaker 1: Trump has proven time and again. I think this is 180 00:09:30,760 --> 00:09:32,480 Speaker 1: what you were getting to early on when we're talking 181 00:09:32,520 --> 00:09:35,559 Speaker 1: about this. Yeah, this is a guy who somehow has 182 00:09:35,600 --> 00:09:38,720 Speaker 1: flouted the consensus over and over again. Why should this 183 00:09:38,800 --> 00:09:40,320 Speaker 1: time be the time we say no, no, no, you 184 00:09:40,320 --> 00:09:41,280 Speaker 1: can't do what you're doing. 185 00:09:41,960 --> 00:09:44,680 Speaker 3: And also, I have a lot less faith in experts now, 186 00:09:45,600 --> 00:09:51,400 Speaker 3: and I'm sorry, like economic experts get almost everything wrong. 187 00:09:53,679 --> 00:09:56,240 Speaker 3: In the wake of COVID, when all of these same 188 00:09:56,320 --> 00:09:59,679 Speaker 3: economic experts told us, hey, you know, just go live 189 00:09:59,679 --> 00:10:02,760 Speaker 3: at your home, go print money, Cheetos, We'll just print money, 190 00:10:02,760 --> 00:10:05,920 Speaker 3: will give people money. There'll be no consequences, Well there were. 191 00:10:06,160 --> 00:10:09,079 Speaker 3: Inflation went to nine percent, and let me hit you on. 192 00:10:09,400 --> 00:10:11,680 Speaker 3: I do think this is important. On price of goods 193 00:10:12,679 --> 00:10:15,800 Speaker 3: right now, the price of oil is at a five 194 00:10:15,840 --> 00:10:19,720 Speaker 3: year low. The number one area that people look at 195 00:10:19,760 --> 00:10:22,600 Speaker 3: price of goods is what is a gallon of gas costs? 196 00:10:23,000 --> 00:10:27,120 Speaker 3: It's going to go under three dollars in most parts 197 00:10:27,200 --> 00:10:31,160 Speaker 3: of the country on average. Again, I love this every 198 00:10:31,200 --> 00:10:33,240 Speaker 3: time I say this that somebody's like, well, I just 199 00:10:33,280 --> 00:10:36,080 Speaker 3: paid so and so in San Francisco and I just 200 00:10:36,080 --> 00:10:38,200 Speaker 3: paid so and so. Okay, I get it. The average 201 00:10:38,280 --> 00:10:40,640 Speaker 3: I'm telling you right now, based on the price of 202 00:10:41,000 --> 00:10:43,880 Speaker 3: a barrel of oil, the average price of a gallon 203 00:10:43,920 --> 00:10:46,160 Speaker 3: of gas going to go under three dollars. That's going 204 00:10:46,240 --> 00:10:48,520 Speaker 3: to be the lowest we've had gas prices in five years. 205 00:10:48,760 --> 00:10:51,360 Speaker 3: A lot of people address and view the state of 206 00:10:51,400 --> 00:10:53,520 Speaker 3: the economy based on what they pay for gas and 207 00:10:53,559 --> 00:10:57,280 Speaker 3: what they pay for goods, meaning groceries. To a large extent, 208 00:10:57,559 --> 00:11:00,080 Speaker 3: grocery prices are coming down. Price of eggs, which they 209 00:11:00,080 --> 00:11:02,120 Speaker 3: tried to turn into a big issue. Remember, we get 210 00:11:02,120 --> 00:11:05,160 Speaker 3: all these guys out there. Even for every one of you, 211 00:11:05,280 --> 00:11:07,200 Speaker 3: I think wherever you buy eggs, I think you're paying 212 00:11:07,320 --> 00:11:09,760 Speaker 3: less right than you were at price. Beggs down about 213 00:11:09,760 --> 00:11:13,360 Speaker 3: fifty percent, back to in some way a normalizing number. 214 00:11:13,640 --> 00:11:16,560 Speaker 3: The reflections that I have seen of what a trade 215 00:11:16,600 --> 00:11:18,640 Speaker 3: war will bring to bear in terms of cost of 216 00:11:18,679 --> 00:11:21,920 Speaker 3: groceries is not very substantial. Price of gas comes down, 217 00:11:22,360 --> 00:11:26,760 Speaker 3: so I think again, my best advice is I just 218 00:11:26,800 --> 00:11:29,120 Speaker 3: went on Pierce, you'll like this buck. I'll echo it 219 00:11:29,160 --> 00:11:32,559 Speaker 3: here too. I told Pierce Morgan, Hey, in eighteen months, 220 00:11:32,960 --> 00:11:36,439 Speaker 3: if inflation is up and the stock market prices are 221 00:11:37,120 --> 00:11:40,840 Speaker 3: lower than they were when Trump was elected in November, 222 00:11:41,240 --> 00:11:43,200 Speaker 3: then I will go on and I will wear a 223 00:11:43,240 --> 00:11:47,200 Speaker 3: clown nose on your show. I feel good about eighteen 224 00:11:47,240 --> 00:11:50,600 Speaker 3: months from now, Buck, you get Bucks getting nervous. Eighteen 225 00:11:50,679 --> 00:11:52,960 Speaker 3: months from now, you guys can write this in what 226 00:11:53,040 --> 00:11:56,679 Speaker 3: is that like October seventh of twenty twenty six, right 227 00:11:56,720 --> 00:11:59,000 Speaker 3: in advance of the election. I think everything is going 228 00:11:59,040 --> 00:11:59,959 Speaker 3: to be infinitely better. 229 00:12:00,440 --> 00:12:03,679 Speaker 1: And for those who are you can be a student 230 00:12:03,720 --> 00:12:08,320 Speaker 1: of history and look at this from the perspective of Yeah, 231 00:12:08,320 --> 00:12:10,480 Speaker 1: when Reagan had a tame inflation, there were a couple 232 00:12:10,480 --> 00:12:13,760 Speaker 1: of rough years, and then America just became the global 233 00:12:13,840 --> 00:12:16,800 Speaker 1: dominant superpower, the likes of which the world had never seen, 234 00:12:16,840 --> 00:12:19,120 Speaker 1: and went on a twenty year run of prosperity, so 235 00:12:19,240 --> 00:12:21,240 Speaker 1: much so that Bill Clinton was able to continue to 236 00:12:21,280 --> 00:12:24,920 Speaker 1: ride the coattails of Reaganomics. But put that aside, you 237 00:12:24,960 --> 00:12:27,120 Speaker 1: could also, I mean, there are so many ways, I think, Clay, 238 00:12:27,200 --> 00:12:30,840 Speaker 1: that you can view what's going on here, the detox 239 00:12:30,880 --> 00:12:31,559 Speaker 1: that is necessary. 240 00:12:31,640 --> 00:12:33,720 Speaker 2: You point it out, COVID, we spent. 241 00:12:33,640 --> 00:12:36,880 Speaker 1: Trillions of dollars, like seven or eight trillion dollars just 242 00:12:36,880 --> 00:12:41,320 Speaker 1: injected into the economy without the attendant products, goods, services, 243 00:12:41,320 --> 00:12:45,400 Speaker 1: the overall productivity to support any of that, and we 244 00:12:45,520 --> 00:12:48,400 Speaker 1: never really paid a financial price for this in terms 245 00:12:48,440 --> 00:12:50,800 Speaker 1: of got to get back to the real economy, got 246 00:12:50,800 --> 00:12:53,360 Speaker 1: to have a reset, And so part of that is 247 00:12:53,360 --> 00:12:57,000 Speaker 1: baked into what we're seeing right now. But also, you know, 248 00:12:57,320 --> 00:13:03,280 Speaker 1: you were sort of quoting Buffett before. The only people 249 00:13:03,320 --> 00:13:05,160 Speaker 1: that really know what they're doing when it comes to 250 00:13:05,200 --> 00:13:07,120 Speaker 1: the market are the people that tell you, I think 251 00:13:07,160 --> 00:13:08,839 Speaker 1: I know where this stock will be, or I think 252 00:13:08,840 --> 00:13:11,120 Speaker 1: I know what's going to happen in five years, or 253 00:13:11,280 --> 00:13:14,040 Speaker 1: maybe you know a couple of years. By and large, 254 00:13:14,480 --> 00:13:17,839 Speaker 1: it is very the day to day stuff. There's the 255 00:13:17,920 --> 00:13:19,679 Speaker 1: number of people who can do that and even make 256 00:13:19,679 --> 00:13:22,199 Speaker 1: a living doing it is tiny, tiny. You have to 257 00:13:22,240 --> 00:13:24,040 Speaker 1: be like a little you have to be a savant. Now, 258 00:13:24,040 --> 00:13:25,480 Speaker 1: there are people who can do it, but they're very, 259 00:13:25,559 --> 00:13:28,600 Speaker 1: very few for the vast majority of us. You just 260 00:13:28,679 --> 00:13:31,199 Speaker 1: bet on the big trends, and Trump is betting on 261 00:13:31,240 --> 00:13:33,360 Speaker 1: the big trend of the American economy being the most 262 00:13:33,360 --> 00:13:36,320 Speaker 1: incredible wealth generation machine in the history of the human 263 00:13:36,360 --> 00:13:39,080 Speaker 1: species at the end of the day, and trying to 264 00:13:39,080 --> 00:13:42,079 Speaker 1: fix some things in the meantime. So I'm I am 265 00:13:42,160 --> 00:13:45,000 Speaker 1: not worried, and to your point about eighteen months from now, 266 00:13:45,000 --> 00:13:46,040 Speaker 1: with the clown knows. 267 00:13:47,320 --> 00:13:48,800 Speaker 2: I'll just say this, Clay. 268 00:13:48,880 --> 00:13:51,200 Speaker 1: You know, Trump has decided that this is a big 269 00:13:51,240 --> 00:13:54,120 Speaker 1: swing that he wants to take, and this is a gamble. 270 00:13:54,200 --> 00:13:56,480 Speaker 1: And if he's wrong, we're going to get slaughtered in 271 00:13:56,520 --> 00:13:59,640 Speaker 1: the midterms, and you know what, we will deserve it. 272 00:14:00,440 --> 00:14:03,440 Speaker 1: And that's actually politics. But you know what else, I 273 00:14:03,440 --> 00:14:06,200 Speaker 1: don't think that's gonna happen. I'm ride or die with 274 00:14:06,280 --> 00:14:09,200 Speaker 1: trump'ster on this one. Let the man cook, let him 275 00:14:09,200 --> 00:14:11,240 Speaker 1: do his thing. Let's see where it goes. 276 00:14:12,480 --> 00:14:16,720 Speaker 3: Amen, And I've got October seventh, By the way, twenty 277 00:14:16,760 --> 00:14:22,400 Speaker 3: twenty six is clown nos x day. So if the 278 00:14:22,440 --> 00:14:25,320 Speaker 3: stock market is at a lower price and inflation is up, 279 00:14:25,520 --> 00:14:27,920 Speaker 3: it has to be both of those things. Then I 280 00:14:27,960 --> 00:14:29,680 Speaker 3: will wear a clown nose on here, and I will 281 00:14:29,720 --> 00:14:32,840 Speaker 3: acknowledge that Trump has done a poor job on the economy. 282 00:14:32,880 --> 00:14:35,240 Speaker 3: I will say this, Buck, it's a big swing. And 283 00:14:35,320 --> 00:14:39,720 Speaker 3: Trump has now taken ownership of the overall economic environment 284 00:14:39,800 --> 00:14:44,600 Speaker 3: now in a way that is frankly incredibly aggressive by him. 285 00:14:44,920 --> 00:14:47,360 Speaker 3: Here in America. We can't imagine living under the constant 286 00:14:47,400 --> 00:14:50,280 Speaker 3: threat of terrorism and rocket attacks in Israel, it's a 287 00:14:50,320 --> 00:14:53,200 Speaker 3: way of life. Parents taking their kids to school suddenly 288 00:14:53,280 --> 00:14:55,920 Speaker 3: dropped to the ground as sirens blair or rush to 289 00:14:55,960 --> 00:14:59,600 Speaker 3: the nearest bomb shelter. Recently, missile attacks from Huti's has 290 00:14:59,640 --> 00:15:03,280 Speaker 3: a lot and Hamas forces started up again. That's one 291 00:15:03,320 --> 00:15:05,240 Speaker 3: reason we want to partner with the great people at 292 00:15:05,240 --> 00:15:08,040 Speaker 3: the International Fellowship of Christians and Jews to help provide 293 00:15:08,080 --> 00:15:12,280 Speaker 3: life saving aid and security essentials. Your urgently needed gift 294 00:15:12,320 --> 00:15:16,040 Speaker 3: today will go to bomb shelters, flack jackets, bulletproof vests. 295 00:15:16,080 --> 00:15:19,040 Speaker 3: I saw all of this. I saw all of this firsthand, 296 00:15:19,080 --> 00:15:22,720 Speaker 3: the incredible work the foundation is doing. You can help 297 00:15:22,840 --> 00:15:26,880 Speaker 3: first responders on the front lines with armored vehicles, ambulances 298 00:15:26,880 --> 00:15:29,680 Speaker 3: and more. Join us in standing with Israel. Make your 299 00:15:29,720 --> 00:15:32,560 Speaker 3: gift to the International Fellowship of Christians and Jews at 300 00:15:32,600 --> 00:15:36,920 Speaker 3: eight eight eight for eight eight IFCJ that is eight 301 00:15:37,120 --> 00:15:40,760 Speaker 3: eight eight four eight eight four three two five. You 302 00:15:40,760 --> 00:15:45,360 Speaker 3: can also go online to support IFCJ dot org to 303 00:15:45,480 --> 00:15:50,720 Speaker 3: give right now that website support IFCJ dot org. 304 00:15:50,840 --> 00:15:55,240 Speaker 4: You ain't imagining it. The world has gone insane. We 305 00:15:55,480 --> 00:15:59,160 Speaker 4: claim your sanity with clay and funding. Find them on 306 00:15:59,240 --> 00:16:02,920 Speaker 4: the free iHeart radio at or wherever you get your podcasts. 307 00:16:03,080 --> 00:16:06,920 Speaker 3: We're welcome back in Clay Travis buck Sexton Show. We're 308 00:16:06,920 --> 00:16:11,080 Speaker 3: talking about the best investment advice on the planet, best 309 00:16:11,080 --> 00:16:15,960 Speaker 3: investor of the past, what five generations probably last one 310 00:16:16,000 --> 00:16:20,720 Speaker 3: hundred years? Is Warren Buffett most successful American capitalists maybe 311 00:16:20,760 --> 00:16:24,120 Speaker 3: of all time from an investment perspective, Here he is. 312 00:16:24,160 --> 00:16:27,520 Speaker 3: I believe it's cut fourteen talking about the fact that 313 00:16:27,720 --> 00:16:31,000 Speaker 3: if you can't handle the emotion of up and down markets, 314 00:16:31,360 --> 00:16:32,920 Speaker 3: then you shouldn't have stocks. 315 00:16:32,960 --> 00:16:36,000 Speaker 5: Listen, a lot of investors are told, retail investors are 316 00:16:36,000 --> 00:16:38,800 Speaker 5: told that they should have a certain percent of their 317 00:16:39,000 --> 00:16:42,120 Speaker 5: portfolio in bonds. Maybe they're told sixty forty, maybe they're 318 00:16:42,120 --> 00:16:45,600 Speaker 5: told seventy thirty stocks to bonds. That's something that you 319 00:16:45,640 --> 00:16:47,320 Speaker 5: should do, and that's the safe way of doing it. 320 00:16:47,360 --> 00:16:48,160 Speaker 1: What are they missing? 321 00:16:48,200 --> 00:16:50,120 Speaker 6: Some people should not own stocks at all because they 322 00:16:50,200 --> 00:16:52,760 Speaker 6: just get too upset with price fluctuations. If you're going 323 00:16:52,800 --> 00:16:56,080 Speaker 6: to do dumb things because your stock a stock goes down, 324 00:16:56,400 --> 00:16:57,600 Speaker 6: you shouldn't own a stock at all. 325 00:16:58,360 --> 00:17:00,320 Speaker 5: What are dumb things? Selling a stock shots. 326 00:17:00,200 --> 00:17:01,200 Speaker 2: Nars that goes down. 327 00:17:01,400 --> 00:17:05,400 Speaker 6: Some people are not actually emotionally or psychologically fit home stocks. 328 00:17:05,400 --> 00:17:07,880 Speaker 6: But I think there more of them would be if 329 00:17:07,920 --> 00:17:10,760 Speaker 6: you get educated now on what you're really buying, which 330 00:17:10,800 --> 00:17:13,040 Speaker 6: is part of a business, it will. 331 00:17:12,880 --> 00:17:16,520 Speaker 1: Clear he's the best, literally the best in the business. 332 00:17:16,560 --> 00:17:18,639 Speaker 1: I think you could argue number one probably best, the 333 00:17:18,640 --> 00:17:21,240 Speaker 1: best of all time. But beyond that, what Trump is 334 00:17:21,280 --> 00:17:24,200 Speaker 1: doing here is trying to restructure things for the people 335 00:17:24,200 --> 00:17:27,200 Speaker 1: who right now are behind on credit card payments because 336 00:17:27,240 --> 00:17:31,280 Speaker 1: of the insane credit card interest rates, can't afford a house, 337 00:17:31,320 --> 00:17:33,840 Speaker 1: can only afford half the house they could before. And 338 00:17:33,920 --> 00:17:36,480 Speaker 1: so maybe now they're only renting, they're not building equity. 339 00:17:36,640 --> 00:17:38,840 Speaker 1: Price of gas is too high, price of food is 340 00:17:38,840 --> 00:17:41,880 Speaker 1: too high. Their wages have been suppressed, Their wages are down. 341 00:17:42,440 --> 00:17:45,800 Speaker 1: That's a huge That is the economy, right, you know, 342 00:17:46,000 --> 00:17:47,760 Speaker 1: the stock market a lot of times kind of a 343 00:17:47,800 --> 00:17:51,040 Speaker 1: froth on top of that. So he's trying to address 344 00:17:51,040 --> 00:17:54,840 Speaker 1: some of these structural and fundamental components that, as Scott 345 00:17:54,880 --> 00:17:58,439 Speaker 1: Besson said, these people need relief from the government. All right, 346 00:17:58,480 --> 00:18:00,840 Speaker 1: look self speaking of saving your money, because this is 347 00:18:00,880 --> 00:18:02,520 Speaker 1: one easy way to do it. So don't you want 348 00:18:02,560 --> 00:18:04,080 Speaker 1: to save money, Let's save you some money right now 349 00:18:04,119 --> 00:18:07,000 Speaker 1: with pure talk. They're priced right. This service is on 350 00:18:07,040 --> 00:18:10,000 Speaker 1: America's most dependable five G network and their customer service 351 00:18:10,040 --> 00:18:12,400 Speaker 1: team is one hundred percent us faced. I've had pure 352 00:18:12,440 --> 00:18:16,160 Speaker 1: Talk for years, fantastic service. Look, why would you want 353 00:18:16,200 --> 00:18:18,600 Speaker 1: to give some other wireless company an extra thousand dollars 354 00:18:18,640 --> 00:18:21,440 Speaker 1: a year, because that's about what the family of four 355 00:18:21,560 --> 00:18:24,720 Speaker 1: that stays with someone other than pure Talk pays. I 356 00:18:24,800 --> 00:18:27,439 Speaker 1: want one thousand dollars more in your bank account at 357 00:18:27,480 --> 00:18:29,840 Speaker 1: the end of this year, and on average, that's what 358 00:18:29,880 --> 00:18:31,600 Speaker 1: you'll say when you switch to pure Talk from your 359 00:18:31,600 --> 00:18:34,159 Speaker 1: current carrier. Plus, we'll get you a great deal right 360 00:18:34,160 --> 00:18:36,040 Speaker 1: now with pure Talk. Keep on, you can keep your phone, 361 00:18:36,440 --> 00:18:38,960 Speaker 1: keep your number. You can get a great deal on 362 00:18:39,000 --> 00:18:41,440 Speaker 1: a two with pure Talk. But switch your service now 363 00:18:41,480 --> 00:18:44,760 Speaker 1: to Puretalk. Dial pound two five zero, say the keywords 364 00:18:44,800 --> 00:18:47,360 Speaker 1: Clay and buck. Make the switch. You'll save an additional 365 00:18:47,400 --> 00:18:50,119 Speaker 1: fifty percent off your first month from your current phone. 366 00:18:50,280 --> 00:18:53,679 Speaker 1: Just dial pound two five zero say the keywords Clay 367 00:18:53,720 --> 00:18:54,240 Speaker 1: and Buck. 368 00:18:54,640 --> 00:18:57,159 Speaker 7: I got our report from the USTR last night that 369 00:18:57,240 --> 00:18:59,320 Speaker 7: more than fifty countries have reached out to the President 370 00:18:59,359 --> 00:19:02,280 Speaker 7: to beginning to goiation. But they're doing that because they 371 00:19:02,359 --> 00:19:04,800 Speaker 7: understand that they bear a lot of the tariff, and 372 00:19:04,920 --> 00:19:06,679 Speaker 7: so I don't think that you're going to see a 373 00:19:06,680 --> 00:19:09,639 Speaker 7: big effect on the consumer in the US because I 374 00:19:09,680 --> 00:19:12,040 Speaker 7: do think that the reason why we have a persistent, 375 00:19:12,200 --> 00:19:14,639 Speaker 7: long run trade deficit is these people have very in 376 00:19:14,680 --> 00:19:17,359 Speaker 7: elastic supply. They've been dumping goods into the country in 377 00:19:17,440 --> 00:19:18,320 Speaker 7: order to create jobs. 378 00:19:19,800 --> 00:19:25,040 Speaker 1: That was National Economic Council Director Kevin has it so Clay, 379 00:19:25,520 --> 00:19:27,840 Speaker 1: we already and I think this is important to point out, 380 00:19:28,000 --> 00:19:29,840 Speaker 1: there have been countries who come forward and said, you 381 00:19:29,840 --> 00:19:33,720 Speaker 1: know what, let's eliminate our trade bearers entirely. 382 00:19:33,440 --> 00:19:34,200 Speaker 2: With the US. 383 00:19:34,800 --> 00:19:38,000 Speaker 1: Israel is one of them. Taiwan is another. Taiwan I 384 00:19:38,000 --> 00:19:41,680 Speaker 1: think is also recognizing, you know, you're seeing how countries 385 00:19:41,720 --> 00:19:46,159 Speaker 1: operate here and who really wants to just have a 386 00:19:46,480 --> 00:19:51,480 Speaker 1: very seamless relationship economically and otherwise with the United States 387 00:19:51,560 --> 00:19:54,520 Speaker 1: because they want to talk right away. Okay, let's figure 388 00:19:54,560 --> 00:19:57,959 Speaker 1: this out, guys, right, very different when you're talking about China, 389 00:19:58,240 --> 00:20:01,560 Speaker 1: which is China which is now saying that they are 390 00:20:01,600 --> 00:20:04,080 Speaker 1: going to up their tariffs even more, and Trump already 391 00:20:04,240 --> 00:20:08,040 Speaker 1: in his proclamations about this, has put out that any 392 00:20:08,119 --> 00:20:12,880 Speaker 1: country that does a retaliatory tariff for our reciprocal tariff 393 00:20:13,240 --> 00:20:15,760 Speaker 1: is going to get hit even harder. So I will 394 00:20:15,800 --> 00:20:20,320 Speaker 1: say I think with with China, Clay, you can say 395 00:20:20,320 --> 00:20:23,600 Speaker 1: that this is escalating into something of a trade war possibility. 396 00:20:24,400 --> 00:20:28,119 Speaker 1: But with these other countries so far, there's pretty substantial 397 00:20:28,200 --> 00:20:31,959 Speaker 1: outreach and negotiation that's already underway. And I think Elon 398 00:20:32,080 --> 00:20:34,840 Speaker 1: this cut three. Elon says this well, when he's like, look, 399 00:20:34,880 --> 00:20:38,480 Speaker 1: with our close allies, we should move to a zero 400 00:20:38,560 --> 00:20:43,879 Speaker 1: tariff reciprocity here, zero tariff on both sides of the 401 00:20:43,920 --> 00:20:47,440 Speaker 1: Atlantic situation. When it comes to the EU play three. 402 00:20:47,320 --> 00:20:50,280 Speaker 8: I'm hopeful, for example, with the tariffs, that that at 403 00:20:50,280 --> 00:20:53,200 Speaker 8: the end of the day, I hope it is greed 404 00:20:53,280 --> 00:20:57,480 Speaker 8: that both Europe and the United States should move ideally 405 00:20:57,560 --> 00:21:01,200 Speaker 8: in my view, to a zero tariff situation, effectively creating 406 00:21:01,240 --> 00:21:05,640 Speaker 8: a free trade zone between Europe and North America. And 407 00:21:06,840 --> 00:21:10,399 Speaker 8: that would be my That's what I hope occurs. And 408 00:21:10,480 --> 00:21:14,000 Speaker 8: also more freedom of people to move between Europe and 409 00:21:14,040 --> 00:21:17,080 Speaker 8: North America if they wish, if they wish to work 410 00:21:17,080 --> 00:21:20,399 Speaker 8: in Europe, wish to work in America, they should be 411 00:21:20,480 --> 00:21:22,959 Speaker 8: allowed to do so, it might view. So that has 412 00:21:22,960 --> 00:21:25,360 Speaker 8: certainly been my advice to the President. 413 00:21:26,480 --> 00:21:26,800 Speaker 2: Clay. 414 00:21:27,640 --> 00:21:33,720 Speaker 1: If Elon thought that Trump was completely you know, hobbling 415 00:21:33,760 --> 00:21:39,760 Speaker 1: his own presidency and destroying the global economy. I'm very 416 00:21:39,800 --> 00:21:42,280 Speaker 1: confident that Elon would be saying, mister President, this is 417 00:21:42,320 --> 00:21:46,040 Speaker 1: not the approach, or modify it this way. And he's 418 00:21:46,080 --> 00:21:48,720 Speaker 1: a pretty smart guy, so is Trump. I think they 419 00:21:48,760 --> 00:21:50,800 Speaker 1: have a very clear idea of what they're trying to 420 00:21:50,840 --> 00:21:51,600 Speaker 1: accomplish here. 421 00:21:52,280 --> 00:21:53,560 Speaker 2: I don't think there's any doubt. 422 00:21:53,680 --> 00:22:00,239 Speaker 3: And a world in which we trade fairly is is 423 00:22:00,840 --> 00:22:05,199 Speaker 3: really the ultimate goal here, right and I when it 424 00:22:05,280 --> 00:22:08,080 Speaker 3: comes to Europe, when it comes to Western markets, I 425 00:22:08,080 --> 00:22:11,760 Speaker 3: think we're going to get a solution. This is really 426 00:22:11,840 --> 00:22:17,080 Speaker 3: all about China. China has been manipulating global trade. They 427 00:22:17,160 --> 00:22:22,480 Speaker 3: have shifted production to Vietnam and Cambodia, that is effectively 428 00:22:22,600 --> 00:22:25,680 Speaker 3: Chinese goods that they're shipping there to try to avoid 429 00:22:25,680 --> 00:22:28,840 Speaker 3: the tariffs that Trump put in place. They are doing 430 00:22:28,840 --> 00:22:32,840 Speaker 3: the same thing with Mexico. They are behaving in a 431 00:22:32,920 --> 00:22:36,800 Speaker 3: fundamentally unfair way. And the question is do we want 432 00:22:36,840 --> 00:22:43,360 Speaker 3: to allow China to continue to manipulate the global economy. Remember, 433 00:22:43,760 --> 00:22:46,919 Speaker 3: they don't even allow their currency to trade freely on 434 00:22:47,000 --> 00:22:50,040 Speaker 3: an open market. And it's just we just have grown 435 00:22:50,160 --> 00:22:53,560 Speaker 3: use to being able to completely accept the fact that 436 00:22:53,680 --> 00:22:57,120 Speaker 3: China doesn't allow its currency to be changed in any 437 00:22:57,160 --> 00:22:59,960 Speaker 3: way to make sure that it has, in their mind, 438 00:23:00,480 --> 00:23:05,040 Speaker 3: the most favorable valuation possible for purposes of trade. Now, 439 00:23:06,200 --> 00:23:08,879 Speaker 3: Trump has said in the last hour that if China 440 00:23:09,040 --> 00:23:14,320 Speaker 3: increases its tariffs, he's going to retaliate. Retaliate by increasing tariffs. 441 00:23:14,359 --> 00:23:18,560 Speaker 3: Yet again, China's economy is in a really difficult position 442 00:23:18,680 --> 00:23:21,400 Speaker 3: right now. The one thing I think you can point 443 00:23:21,440 --> 00:23:24,879 Speaker 3: to that Trump has traditionally understood, well, it's leverage. And 444 00:23:24,920 --> 00:23:27,480 Speaker 3: the other thing I would say is interest rates, because 445 00:23:27,960 --> 00:23:31,240 Speaker 3: both of those things are what allow buildings to be built. 446 00:23:31,680 --> 00:23:32,480 Speaker 2: In New York. 447 00:23:32,520 --> 00:23:34,480 Speaker 3: You get a little bit of leverage and you're able 448 00:23:34,480 --> 00:23:38,160 Speaker 3: to exploit it into a lot. And the interest rate environment, 449 00:23:38,200 --> 00:23:42,440 Speaker 3: which he's calling on the fed to Act, I mentioned 450 00:23:42,440 --> 00:23:45,800 Speaker 3: gas prices. I think that what you are going to 451 00:23:45,840 --> 00:23:48,760 Speaker 3: start to see is interest rates are going to be 452 00:23:48,840 --> 00:23:52,520 Speaker 3: backing up as well. And look, I don't have to 453 00:23:52,560 --> 00:23:54,440 Speaker 3: explain it to you, but a lot of you are 454 00:23:54,520 --> 00:23:56,679 Speaker 3: dealing with it in your day to day life. The 455 00:23:56,760 --> 00:23:59,679 Speaker 3: housing market's fundamentally broken right now in the United States. 456 00:24:00,440 --> 00:24:03,600 Speaker 3: So many people out there are locked in at two 457 00:24:03,680 --> 00:24:06,679 Speaker 3: and a half and three percent rates and congratulation to 458 00:24:06,760 --> 00:24:08,680 Speaker 3: you if you got that on your fifteen or your 459 00:24:08,720 --> 00:24:11,959 Speaker 3: thirty year mortgages. But there are millions of people listening 460 00:24:11,960 --> 00:24:14,640 Speaker 3: to us right now, Buck that are nodding along because 461 00:24:15,040 --> 00:24:16,359 Speaker 3: maybe you don't want to be in that house, but 462 00:24:16,480 --> 00:24:18,080 Speaker 3: that you have the two and a half or three 463 00:24:18,119 --> 00:24:20,399 Speaker 3: percent rate on that you got locked in four or 464 00:24:20,440 --> 00:24:22,920 Speaker 3: five years ago, because maybe you got a kid. 465 00:24:23,320 --> 00:24:24,800 Speaker 2: Maybe your kids have gotten. 466 00:24:24,560 --> 00:24:27,879 Speaker 3: Old enough to be able to go to school and 467 00:24:27,920 --> 00:24:29,480 Speaker 3: you want to be able to move to a better 468 00:24:29,760 --> 00:24:34,120 Speaker 3: school district. Maybe your kids have left the house because 469 00:24:34,200 --> 00:24:36,480 Speaker 3: they have aged out of your household. You've got a 470 00:24:36,520 --> 00:24:39,440 Speaker 3: house that's bigger than what you would like, but you've 471 00:24:39,480 --> 00:24:42,119 Speaker 3: looked at the math and you've said, man, if we 472 00:24:42,240 --> 00:24:45,000 Speaker 3: move to a smaller house, I'm going to have to 473 00:24:45,000 --> 00:24:48,400 Speaker 3: pay the same amount. Because mortgage rates are still around 474 00:24:48,480 --> 00:24:51,800 Speaker 3: seven percent on a thirty year fifteen year new mortgage, 475 00:24:52,119 --> 00:24:54,479 Speaker 3: and that difference between a two and a half percent 476 00:24:54,600 --> 00:24:59,000 Speaker 3: and a seven percent mortgage is seismic, and so the 477 00:24:59,119 --> 00:25:02,680 Speaker 3: whole housing market is broken right now because there aren't 478 00:25:02,760 --> 00:25:06,280 Speaker 3: enough houses on the market because people won't allow their 479 00:25:06,320 --> 00:25:10,040 Speaker 3: mortgage rates to give up. And until that comes back down, Buck, 480 00:25:10,160 --> 00:25:13,080 Speaker 3: probably to the four percent rate. We're not going to 481 00:25:13,119 --> 00:25:16,520 Speaker 3: see the housing markets really open up, and so Trump 482 00:25:16,560 --> 00:25:19,360 Speaker 3: recognizes the FED should be I think dropping interest rates 483 00:25:19,440 --> 00:25:19,800 Speaker 3: right now. 484 00:25:20,520 --> 00:25:22,400 Speaker 1: I also would point out again, I like to bring 485 00:25:22,440 --> 00:25:27,960 Speaker 1: this back down to as you know, as Professor Arcis 486 00:25:28,040 --> 00:25:31,320 Speaker 1: used to say to us at Amherst, first things, the 487 00:25:31,359 --> 00:25:34,600 Speaker 1: most basic, most straightforward, and most true things. What is 488 00:25:34,640 --> 00:25:38,320 Speaker 1: the alternative here exactly? Is it to continue to press 489 00:25:38,480 --> 00:25:41,439 Speaker 1: I mean, from the macroeconomic perspective, step back for a second. 490 00:25:41,600 --> 00:25:43,720 Speaker 1: We leave all the tariffs in place so that we 491 00:25:43,760 --> 00:25:47,000 Speaker 1: aren't able to compete on a free playing field even 492 00:25:47,040 --> 00:25:51,280 Speaker 1: with close allies like the EU, EU countries, European countries, Canada. 493 00:25:51,800 --> 00:25:53,800 Speaker 1: We leave all these tariffs in place. We let China 494 00:25:53,840 --> 00:25:57,359 Speaker 1: do absolutely whatever it wants without any consequence. We continue 495 00:25:57,359 --> 00:26:00,520 Speaker 1: to print money, We continue to well. Rump Is dealt 496 00:26:00,520 --> 00:26:02,760 Speaker 1: with the illegal immigration thing for right now in terms 497 00:26:02,760 --> 00:26:05,399 Speaker 1: of the inflow, But before he came along, it was 498 00:26:05,840 --> 00:26:08,119 Speaker 1: let illegals flood the country, which by the way, affects 499 00:26:08,160 --> 00:26:11,320 Speaker 1: the labor and housing markets too dramatically. People don't talk 500 00:26:11,359 --> 00:26:12,879 Speaker 1: about that, but that is the case. That is in 501 00:26:12,920 --> 00:26:16,000 Speaker 1: fact the case, and Clay continue to print money and 502 00:26:16,040 --> 00:26:18,199 Speaker 1: run up a debt that becomes unsustainable. We have to 503 00:26:18,240 --> 00:26:21,760 Speaker 1: pay now more for interest on the debt than we 504 00:26:21,840 --> 00:26:24,800 Speaker 1: do for the Pentagon budget. And we've got a pretty 505 00:26:24,800 --> 00:26:28,280 Speaker 1: expensive military, and yet we have to pay more money 506 00:26:28,920 --> 00:26:32,399 Speaker 1: to just pay for the money we've already spent. You know, 507 00:26:32,560 --> 00:26:36,960 Speaker 1: the reality here is the status quo was not some 508 00:26:37,119 --> 00:26:40,000 Speaker 1: awesome thing. It's just that the status quo was something 509 00:26:40,040 --> 00:26:44,199 Speaker 1: we became comfortable with because running up debt is easy. 510 00:26:44,480 --> 00:26:48,359 Speaker 1: Facing the debt is hard, right, Making these decisions is 511 00:26:48,720 --> 00:26:49,880 Speaker 1: difficult at some level. 512 00:26:49,880 --> 00:26:53,600 Speaker 2: Clay, the difficulty of this and the you know. 513 00:26:53,600 --> 00:26:56,479 Speaker 1: The sort of gird your loins like strap in and 514 00:26:56,520 --> 00:27:00,320 Speaker 1: see what happens aspect of this means that something possible 515 00:27:00,400 --> 00:27:03,879 Speaker 1: could change, or rather that change is possible. And I 516 00:27:03,920 --> 00:27:06,720 Speaker 1: think that that just shows you the president is very 517 00:27:06,760 --> 00:27:09,520 Speaker 1: serious about this. The advice, I mean, Scott Besson, this 518 00:27:09,560 --> 00:27:12,439 Speaker 1: guy's a hedge fund bro billions and billions of dollars. 519 00:27:12,440 --> 00:27:16,040 Speaker 1: He's made those billion billion dollar deals, right, He's gonna 520 00:27:16,080 --> 00:27:18,080 Speaker 1: he's gonna drive us off a cliff for no reason, 521 00:27:18,200 --> 00:27:20,760 Speaker 1: just because think about some of the people that he 522 00:27:20,800 --> 00:27:21,439 Speaker 1: has around him. 523 00:27:21,480 --> 00:27:24,000 Speaker 2: I mean, I I think. 524 00:27:23,840 --> 00:27:27,560 Speaker 1: That we've just gotten used to a political system and 525 00:27:27,600 --> 00:27:30,080 Speaker 1: this is what overspending, and this is what money printing does. 526 00:27:30,200 --> 00:27:34,160 Speaker 1: A political system that promises us you will never actually 527 00:27:34,200 --> 00:27:37,120 Speaker 1: have to pay, you will never actually have to deal 528 00:27:37,160 --> 00:27:40,879 Speaker 1: with this. We will just keep on through financial alchemy, 529 00:27:41,359 --> 00:27:45,000 Speaker 1: keep the the circus going, even though we can't pay 530 00:27:45,040 --> 00:27:45,879 Speaker 1: for the circus. 531 00:27:46,440 --> 00:27:48,919 Speaker 2: Trump is saying, that's not the way, not the way forward. 532 00:27:49,359 --> 00:27:52,760 Speaker 3: No, and and and I think this is somewhat unique. 533 00:27:53,320 --> 00:27:55,040 Speaker 3: And and I think all of you need to sit 534 00:27:55,080 --> 00:28:00,520 Speaker 3: back and think about this. Most politicians, for almost all 535 00:28:00,520 --> 00:28:04,520 Speaker 3: of our lives, just pretend that everything is fine. 536 00:28:04,600 --> 00:28:05,280 Speaker 2: They don't care. 537 00:28:05,400 --> 00:28:10,120 Speaker 3: To Buck's point, the debt is now thirty seven trillion dollars, 538 00:28:10,280 --> 00:28:14,000 Speaker 3: and there is an economic rule out there where your 539 00:28:14,240 --> 00:28:17,960 Speaker 3: country begins to decline as soon as you spend more 540 00:28:18,080 --> 00:28:21,760 Speaker 3: servicing a debt than you do on your national defense. 541 00:28:22,280 --> 00:28:25,440 Speaker 3: And our interest rate on the national debt is now 542 00:28:25,560 --> 00:28:28,760 Speaker 3: higher than what we spend on national defense and only 543 00:28:28,840 --> 00:28:32,240 Speaker 3: going to increase going forward. And that should be alarming. 544 00:28:32,440 --> 00:28:35,800 Speaker 3: And what Trump is trying to do is address things 545 00:28:36,080 --> 00:28:40,080 Speaker 3: that are major issues that frankly wouldn't have to because 546 00:28:40,080 --> 00:28:42,560 Speaker 3: they only got four years in office. When he leaves 547 00:28:42,560 --> 00:28:45,760 Speaker 3: in twenty twenty nine, he could do what most politicians 548 00:28:45,840 --> 00:28:48,640 Speaker 3: have been doing, which has passing the buck on fundamentally 549 00:28:48,680 --> 00:28:52,080 Speaker 3: broken parts of our economy, and instead he's trying to 550 00:28:52,120 --> 00:28:52,479 Speaker 3: fix it. 551 00:28:52,720 --> 00:28:53,000 Speaker 2: Now. 552 00:28:53,400 --> 00:28:56,360 Speaker 3: It's a big risk, he's taking a big swing. He's 553 00:28:56,440 --> 00:29:01,640 Speaker 3: also taking ownership of the Biden me because what he's 554 00:29:01,680 --> 00:29:05,080 Speaker 3: doing now, by the time we get into the end 555 00:29:05,120 --> 00:29:07,080 Speaker 3: of the year and by the time we get into 556 00:29:07,120 --> 00:29:10,080 Speaker 3: the spring of twenty twenty six, for better or worse, 557 00:29:10,600 --> 00:29:14,880 Speaker 3: everybody is going to say this is Trump's responsibility. And 558 00:29:15,080 --> 00:29:17,840 Speaker 3: the easiest thing to do would have been probably not 559 00:29:17,920 --> 00:29:20,360 Speaker 3: to upset the apple cart very much and try to 560 00:29:20,480 --> 00:29:23,960 Speaker 3: change and just continue to blame Biden for a couple 561 00:29:24,040 --> 00:29:27,000 Speaker 3: of years. And Trump hasn't been willing to do that, 562 00:29:27,800 --> 00:29:31,240 Speaker 3: and so buckle up. In the short term, I think 563 00:29:31,280 --> 00:29:33,560 Speaker 3: there's going to be a lot of movement, but it 564 00:29:33,800 --> 00:29:38,040 Speaker 3: is a important, I think battle that we are fighting 565 00:29:38,160 --> 00:29:41,160 Speaker 3: right now, and it's one that ultimately I have faith 566 00:29:41,200 --> 00:29:42,040 Speaker 3: Trump is going to win. 567 00:29:42,720 --> 00:29:45,000 Speaker 1: I also think that a lot of us have become 568 00:29:45,080 --> 00:29:49,040 Speaker 1: tired of the constant, you know, the the the ringing 569 00:29:49,120 --> 00:29:52,320 Speaker 1: the alarm bell and then hoping nobody actually answers the 570 00:29:52,360 --> 00:29:55,280 Speaker 1: alarm right, and I think the conservatives have done this 571 00:29:55,560 --> 00:29:57,520 Speaker 1: you know, because Clay, I've been this game. Now I'm 572 00:29:57,520 --> 00:30:00,000 Speaker 1: getting old. Fifteen years right, this will be fifteen years 573 00:30:00,040 --> 00:30:02,000 Speaker 1: for me, this summer of doing conservative media. 574 00:30:02,480 --> 00:30:02,800 Speaker 2: Uh. 575 00:30:02,840 --> 00:30:05,800 Speaker 1: And what one thing that you see here, I think 576 00:30:05,920 --> 00:30:07,880 Speaker 1: very clearly is that there are a lot of people 577 00:30:07,920 --> 00:30:12,880 Speaker 1: who will tell you, Hey, the debt's too big. Hey, uh, 578 00:30:13,160 --> 00:30:14,720 Speaker 1: we are outsourcing too many jobs. 579 00:30:14,720 --> 00:30:14,840 Speaker 2: Hey. 580 00:30:14,880 --> 00:30:16,959 Speaker 1: They go down this list and you say, okay, well 581 00:30:16,960 --> 00:30:19,080 Speaker 1: we're gonna have to do the following things to fix that. 582 00:30:19,680 --> 00:30:22,160 Speaker 1: You know, if you've got somebody who hey, I'll speak 583 00:30:22,200 --> 00:30:24,800 Speaker 1: from personal experience. If you if you gained a lot 584 00:30:24,840 --> 00:30:27,920 Speaker 1: of weight fast, it's not fun the first month when 585 00:30:27,920 --> 00:30:30,120 Speaker 1: you have to put the doughnuts down, it's. 586 00:30:29,960 --> 00:30:30,880 Speaker 2: Not fund true. 587 00:30:31,400 --> 00:30:33,360 Speaker 1: There's no and anyone who tells you that you're not 588 00:30:33,400 --> 00:30:35,680 Speaker 1: going to be I'll tell you this my Dan Anderson, 589 00:30:35,680 --> 00:30:36,320 Speaker 1: who's my trainer. 590 00:30:36,400 --> 00:30:37,800 Speaker 2: Some of you guys have been reaching out to him. 591 00:30:37,800 --> 00:30:42,440 Speaker 1: He appreciates that he's at fitness Dane on on Instagram. 592 00:30:42,600 --> 00:30:45,240 Speaker 3: By the way, fantastic. You just you just got that 593 00:30:45,320 --> 00:30:48,520 Speaker 3: guy deluged. I mean he deserves it. 594 00:30:48,520 --> 00:30:50,800 Speaker 1: He's a great The results that this guy gets, I'm 595 00:30:50,840 --> 00:30:52,120 Speaker 1: not the only one that he gets these results. You 596 00:30:52,120 --> 00:30:53,560 Speaker 1: go check him out. I'm just saying, look, he's he's 597 00:30:53,560 --> 00:30:57,360 Speaker 1: a great trainer. Yeah, he's he's gonna have some some messages, 598 00:30:57,360 --> 00:30:59,080 Speaker 1: I think, but go check him out. But you know, 599 00:30:59,240 --> 00:31:02,040 Speaker 1: you see when I tell him, I'm like, early on 600 00:31:02,120 --> 00:31:04,400 Speaker 1: I was like, oh man, I'm hungry, and he's like, yeah, 601 00:31:05,400 --> 00:31:08,680 Speaker 1: you're going to be hungry. Sit in it, own it, 602 00:31:08,880 --> 00:31:11,640 Speaker 1: get past it, like not starving. But you know you're 603 00:31:11,640 --> 00:31:14,320 Speaker 1: gonna like, you know, you're not a baby. If you're 604 00:31:14,320 --> 00:31:18,560 Speaker 1: trying to change things, change requires you to be willing 605 00:31:18,960 --> 00:31:21,600 Speaker 1: to get out of the comfort zone. And so the 606 00:31:21,680 --> 00:31:25,320 Speaker 1: American you know, the American economy is being told put 607 00:31:25,360 --> 00:31:28,000 Speaker 1: down the Krispy Kreams in the morning, let's get you, 608 00:31:28,080 --> 00:31:30,600 Speaker 1: let's get you eating a little cottage cheese, maybe a 609 00:31:30,640 --> 00:31:33,880 Speaker 1: little ninety three seven turkey for lunch, like this is what. 610 00:31:34,120 --> 00:31:36,760 Speaker 2: But it's so much better. It's so much better. 611 00:31:36,840 --> 00:31:39,719 Speaker 1: The alternative is you keep doing what you're doing and 612 00:31:39,760 --> 00:31:43,120 Speaker 1: bad things end up happening. So we're not getting sponsored 613 00:31:43,120 --> 00:31:44,760 Speaker 1: by Krispy Cream I think anytime soon. 614 00:31:44,840 --> 00:31:45,520 Speaker 2: But that's okay. 615 00:31:45,920 --> 00:31:48,600 Speaker 1: It's unfortunate because they are really good. Oh my gosh, 616 00:31:48,720 --> 00:31:50,920 Speaker 1: they're addicted. I think they're meant to be addictive, which 617 00:31:50,920 --> 00:31:54,440 Speaker 1: is the whole thing. Gold has a star at gold talking. 618 00:31:54,600 --> 00:31:56,360 Speaker 1: There's a good time to be talking about gold right now. 619 00:31:56,440 --> 00:31:58,920 Speaker 1: Let's be honest everybody gold I've got gold. I'm gonna 620 00:31:58,920 --> 00:32:01,760 Speaker 1: be buying some more gold here coming up. For thousands 621 00:32:01,760 --> 00:32:04,239 Speaker 1: of years, gold has been the store of value for 622 00:32:04,320 --> 00:32:07,920 Speaker 1: humanity all around the globe for a reason. And today 623 00:32:07,960 --> 00:32:09,880 Speaker 1: you can buy and place gold in your four oh 624 00:32:09,960 --> 00:32:12,920 Speaker 1: one K or your IRA or your savings account. Smart 625 00:32:12,920 --> 00:32:14,560 Speaker 1: investors have already been doing it. I've been telling you 626 00:32:14,600 --> 00:32:16,640 Speaker 1: to do it for months now. I've been saying, called 627 00:32:16,640 --> 00:32:18,920 Speaker 1: Birch Gold, look at the price of gold, look at 628 00:32:18,920 --> 00:32:21,000 Speaker 1: what's going on. I'm not saying that things are going 629 00:32:21,080 --> 00:32:23,560 Speaker 1: to be easy here right I was talking about changing 630 00:32:23,600 --> 00:32:25,880 Speaker 1: things in the economy. But you can also make smart 631 00:32:25,920 --> 00:32:28,719 Speaker 1: decisions now for the long term, and gold should be 632 00:32:28,840 --> 00:32:32,360 Speaker 1: a part of that plan. I trust Birch Gold Group. 633 00:32:32,400 --> 00:32:34,640 Speaker 1: That's who I go with. I've known these guys and 634 00:32:34,720 --> 00:32:37,320 Speaker 1: work with these guys for years. They are squared away, 635 00:32:37,400 --> 00:32:40,360 Speaker 1: they have fantastic reviews online from the Better Business Bureau, 636 00:32:40,680 --> 00:32:43,400 Speaker 1: and they want long term clients. Because long term clients 637 00:32:43,400 --> 00:32:46,160 Speaker 1: it's best for you, best for them. You can call 638 00:32:46,200 --> 00:32:49,920 Speaker 1: them and get their free information on gold. They've helped 639 00:32:49,960 --> 00:32:53,240 Speaker 1: tens of thousands of people already convert an existing IRA 640 00:32:53,400 --> 00:32:56,160 Speaker 1: or four to oh one k into an IRA in 641 00:32:56,280 --> 00:33:00,000 Speaker 1: physical gold. Can't print gold. Is it time for you 642 00:33:00,160 --> 00:33:02,240 Speaker 1: to hedge against inflation and economic instability? 643 00:33:02,280 --> 00:33:05,920 Speaker 2: I think so. Call Birch Gold right now, or rather 644 00:33:06,000 --> 00:33:07,520 Speaker 2: just text them. That's the easiest way to do it. 645 00:33:07,560 --> 00:33:10,720 Speaker 1: Text my name Buck to Birch Gold at ninety eight 646 00:33:11,080 --> 00:33:14,760 Speaker 1: ninety eight ninety eight. So you text buc K to 647 00:33:15,280 --> 00:33:18,640 Speaker 1: ninety eight ninety eight ninety eight, Birch Gold will send 648 00:33:18,680 --> 00:33:21,720 Speaker 1: you a free no obligation info kit. Again, text my 649 00:33:21,880 --> 00:33:25,000 Speaker 1: name Buck to ninety eight ninety eight ninety eight. 650 00:33:25,040 --> 00:33:30,080 Speaker 4: Today play Travis and Buck Sexton telling it like it is. 651 00:33:30,320 --> 00:33:33,640 Speaker 4: Find them on the free iHeartRadio app or wherever you 652 00:33:33,760 --> 00:33:35,200 Speaker 4: get your podcasts. 653 00:33:36,560 --> 00:33:39,160 Speaker 2: Welcome back in. I appreciate the music there. 654 00:33:39,320 --> 00:33:42,520 Speaker 3: Yes, I'm not a big announced, but I had a 655 00:33:42,520 --> 00:33:43,400 Speaker 3: birthday yesterday. 656 00:33:43,440 --> 00:33:46,000 Speaker 2: I am Matthew Birthday. Thank you, Happy birthday. 657 00:33:46,520 --> 00:33:51,360 Speaker 3: I am now forty six years old, so appreciate everybody 658 00:33:51,360 --> 00:33:55,240 Speaker 3: who reached out and said happy birthday. You know, when 659 00:33:55,240 --> 00:33:58,600 Speaker 3: you get into your thirties, forties, fifties, probably sixties. I 660 00:33:58,600 --> 00:34:02,640 Speaker 3: would imagine the birthday is not necessarily the same huge 661 00:34:02,520 --> 00:34:06,160 Speaker 3: celebratory event. We had a good dinner, kick back watch 662 00:34:06,200 --> 00:34:10,359 Speaker 3: the White Lotus finale, and this morning when I woke up, 663 00:34:10,360 --> 00:34:12,680 Speaker 3: I said, you know, after a couple of drinks at dinner, 664 00:34:12,680 --> 00:34:14,760 Speaker 3: I think I need to go grab my Crocket Coffee 665 00:34:15,080 --> 00:34:17,440 Speaker 3: Crocketcoffee dot com. You know, buck Tonight we'll get an 666 00:34:17,520 --> 00:34:20,640 Speaker 3: update on this. We got the Florida Gators, your wife's 667 00:34:20,640 --> 00:34:25,560 Speaker 3: alma mater, going up against the Houston Cougars. I voted, 668 00:34:25,640 --> 00:34:28,279 Speaker 3: and you voted for the Florida Gators to win in 669 00:34:28,360 --> 00:34:31,600 Speaker 3: our bracket challenge, and they are about a one and 670 00:34:31,600 --> 00:34:35,040 Speaker 3: a half point favorite. So tonight I think nine to 671 00:34:35,120 --> 00:34:39,480 Speaker 3: twenty Eastern time game will tip off down in San Antonio, 672 00:34:39,880 --> 00:34:41,560 Speaker 3: and I bet some of you are going to be 673 00:34:41,600 --> 00:34:44,120 Speaker 3: staying up late, and if you are, you might want 674 00:34:44,160 --> 00:34:45,960 Speaker 3: to go ahead and have some Crockett Coffee in the 675 00:34:46,000 --> 00:34:48,400 Speaker 3: house to drink in the morning to help get you 676 00:34:48,800 --> 00:34:52,000 Speaker 3: up and spry and moving around. Maybe after a long weekend, 677 00:34:52,600 --> 00:34:55,040 Speaker 3: you need a little bit of extra caffeine in your 678 00:34:55,560 --> 00:34:57,920 Speaker 3: in your diet. And we love what we have been 679 00:34:57,920 --> 00:35:00,640 Speaker 3: able to build so far at Crockett Coffee di because 680 00:35:00,680 --> 00:35:04,360 Speaker 3: of all of you guys, Crocketcoffee dot com code book 681 00:35:04,680 --> 00:35:07,760 Speaker 3: and I will sign autograph copies of my most recent 682 00:35:07,800 --> 00:35:10,440 Speaker 3: book come right to your house when you subscribe. 683 00:35:10,840 --> 00:35:13,759 Speaker 2: Trump. This is I think, going to get a lot 684 00:35:13,760 --> 00:35:14,600 Speaker 2: of attention. Buck. 685 00:35:15,120 --> 00:35:17,480 Speaker 3: In addition to all the everything else that's going on, 686 00:35:17,880 --> 00:35:22,320 Speaker 3: the President has the La Dodgers, the World Series champion 687 00:35:22,360 --> 00:35:26,759 Speaker 3: Dodgers at the White House today. Mookie Betts show, Hey Otani, 688 00:35:27,120 --> 00:35:31,160 Speaker 3: all of their stars. Trump was out in front of 689 00:35:31,200 --> 00:35:34,520 Speaker 3: the team at the public press event, and he also 690 00:35:34,640 --> 00:35:38,600 Speaker 3: said even the Democrats senators from California are in attendance 691 00:35:38,640 --> 00:35:40,920 Speaker 3: at the ceremony, but he's not going to tell you 692 00:35:40,960 --> 00:35:41,560 Speaker 3: their names. 693 00:35:41,719 --> 00:35:46,600 Speaker 2: Listen, congratulations, Ran and others. We have a couple of 694 00:35:46,640 --> 00:35:47,439 Speaker 2: senators here. 695 00:35:47,520 --> 00:35:49,520 Speaker 9: I just don't particularly like them. 696 00:35:49,560 --> 00:35:50,840 Speaker 2: So I want to introduce. 697 00:35:53,160 --> 00:35:56,000 Speaker 9: Over the course of this amazing season, the members of 698 00:35:56,040 --> 00:36:03,200 Speaker 9: this team, rand of think it was that big a deal. 699 00:36:06,280 --> 00:36:09,440 Speaker 3: Very funny Trump. We'll talk a little bit more about this. 700 00:36:09,520 --> 00:36:12,640 Speaker 3: We'll continue to follow the tariff battle. I have a 701 00:36:12,680 --> 00:36:14,120 Speaker 3: small listener random question. 702 00:36:14,480 --> 00:36:17,320 Speaker 1: Do you think going forward, people are going to realize 703 00:36:17,520 --> 00:36:20,200 Speaker 1: are going to expect like they want politicians who can 704 00:36:20,239 --> 00:36:24,440 Speaker 1: be funny. We have not had funny politicians before. Before 705 00:36:24,800 --> 00:36:25,680 Speaker 1: some of them were funny. 706 00:36:26,320 --> 00:36:29,640 Speaker 3: I think that it is going to be important, more 707 00:36:29,680 --> 00:36:33,400 Speaker 3: so than ever before for politicians to be able to 708 00:36:33,440 --> 00:36:36,440 Speaker 3: cut through the noise and humor does it, and I 709 00:36:36,480 --> 00:36:39,160 Speaker 3: think it's just as part of the rhetorical communication device. 710 00:36:39,280 --> 00:36:41,799 Speaker 3: Ronald Reagan had a very good sense of humor that 711 00:36:41,840 --> 00:36:44,000 Speaker 3: he was able to deploy. It makes it harder to 712 00:36:44,080 --> 00:36:45,839 Speaker 3: land a punch on you. I think when you've got 713 00:36:45,840 --> 00:36:46,680 Speaker 3: a good sense of humor. 714 00:36:47,480 --> 00:36:49,200 Speaker 1: All true. We'll come back with more on this in 715 00:36:49,239 --> 00:36:55,120 Speaker 1: a moment. Team Stay with Us, Slade Travis and Buck 716 00:36:55,160 --> 00:36:55,560 Speaker 1: Sexton