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Speaker 1: One, two, three, four. I want to tear for That's right,

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Speaker 1: You heard me right. You know why I want to

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Speaker 1: tear for because I'm sick and tired of industrialization being

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Speaker 1: overseas in our middle class and our young people not

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Speaker 1: being able to afford a damn house, build cars, have

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Speaker 1: steel plants. It's time we bring all that back. And

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Speaker 1: that's what these tariff wars are going to do. And

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Speaker 1: guess what We're going to tell you how by inviting

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Speaker 1: one of the top young economists out there, mister Bryce Gill,

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Speaker 1: onto the show today.

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Speaker 2: This is the David Rutherford Show. A tariff is.

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Speaker 1: A tax or duty imposed by a government on goods

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Speaker 1: and services that are imported into or exported out of

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Speaker 1: a country. It's typically used to regulate international trade, either

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Speaker 1: by raising the price of imported goods to protect domestic industries,

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Speaker 1: or by generating revenue for the government. There are two

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Speaker 1: main types. A fixed tariff, a set amount per unit,

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Speaker 1: like five dollars per barrel of oil in an advolorum tariff,

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Speaker 1: a percentage of the value, like ten percent of a

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Speaker 1: car's price. Guess what, It's time to get America back

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Speaker 1: on top and tariffs is going to be the way

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Speaker 1: we do it.

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Speaker 2: Now, what you have.

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Speaker 1: To understand before everybody loses their mind on a regular basis.

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Speaker 1: That seems to be happening all over the place, even

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Speaker 1: to the point where the crazies are out there trying

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Speaker 1: to burn vehicles of the most productive American car company

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Speaker 1: that we've ever known.

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Speaker 2: Let's just not even talk about that at all. What

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Speaker 2: we do need to.

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Speaker 1: Talk about are where are the middle class jobs? Seriously,

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Speaker 1: I want you to tell us where the middle class

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Speaker 1: jobs have gone. I want you to post it below

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Speaker 1: on this segment of the show. I want you to

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Speaker 1: post it anywhere you can. You tell me in detail

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Speaker 1: when the American might of industrialization and production, when that

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Speaker 1: went away.

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Speaker 2: Now, I have a pretty good idea.

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Speaker 1: I believe that the post World War two generation, the

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Speaker 1: greatest generation of all time. After they went over to Europe,

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Speaker 1: into the Pacific theater and kick some ass, what happened?

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Speaker 1: They came home, They went back to their factory jobs,

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Speaker 1: and what they do. They built this damned country into

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Speaker 1: being the most significantly productive country on the planet. How

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Speaker 1: we built cars, We manufactured steel, we mined, we developed oil,

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Speaker 1: We developed all different types of small businesses. Right, that's

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Speaker 1: what we do, and that's what made America great. Well,

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Speaker 1: fast forward seems somewhere around the late nineteen sixties and

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Speaker 1: early nineteen seventies, an old tricky dick decided to go

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Speaker 1: over to China and open up China's economy, probably in

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Speaker 1: the midst of one of the greatest tyrannical rules of

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Speaker 1: all town time in maose Dung. Some people say it's

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Speaker 1: forty million people. Some people say it's all hundred million

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Speaker 1: people that were annihilated because of communism.

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Speaker 2: Well, that makes sense.

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Speaker 1: Let's make them our future global industrialized country. Right again,

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Speaker 1: once more, in the American history, we seem to have

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Speaker 1: this bizarre relationship and desire to want to part with

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Speaker 1: partner with the complete and utter antithesis of capitalism and

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Speaker 1: i e.

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Speaker 2: Communism.

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Speaker 1: Many people don't even know that in the nineteen twenties

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Speaker 1: and thirty American manufacturing a giants went over to Russia

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Speaker 1: and helped them reindustrialize after the Bolshevik Revolution, even and

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Speaker 1: then even leading up to World War Two. All different

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Speaker 1: types of relationships in America. In fact, there's a beautiful

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Speaker 1: book out there called Stalin's War that describes in detail

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Speaker 1: many hidden communists operating within the United States government. Right,

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Speaker 1: So again this bizarre relationship with communist countries. Well, obviously,

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Speaker 1: in the nineteen eighties, what we decide to do. We

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Speaker 1: decided to begin to offshore our factory jobs, which under

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Speaker 1: the Clinton administration seemed to explode even more after the

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Speaker 1: fall of Russia. There's a lot of brilliant guys out

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Speaker 1: there who talk about this transition. One of them is

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Speaker 1: Jeffrey Sachs. I think he's a brilliant guy. And because

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Speaker 1: he was there, I mean, he was on the ground

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Speaker 1: in Russia when they approached him and said, hey, help

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Speaker 1: us reindustrialize this nation out of the USSR into the

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Speaker 1: modern Ushian economy and country wanting their desire to join

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Speaker 1: in in capitalism internationally. Well, around those same times, what

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Speaker 1: we became the world number one empire, and what we

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Speaker 1: do we accelerated the the de evolution of American.

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Speaker 2: Prowess and might at home. That's right.

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Speaker 1: Think of all the people in your life, in particular,

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Speaker 1: if you were from the Midwest, or from the southern

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Speaker 1: region that was responsible, or even from the Northeast where

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Speaker 1: we had these profound manufacturing capabilities, well, guess what all

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Speaker 1: those places went away?

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Speaker 2: Think of Flint, Michigan.

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Speaker 1: I ain't think of this beautiful little town that was

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Speaker 1: so integrated into the car industry has been utterly devastated,

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Speaker 1: down to the point where they're poisoning their own people

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Speaker 1: out of malfeasans and mismanagement. Right, that's what happens when

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Speaker 1: you attack the middle class. That's what happens when you

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Speaker 1: attack the very people that built this nation. And so

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Speaker 1: what do we need to do. We need to re

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Speaker 1: employ the next generation. Right, the greatest generation is pretty

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Speaker 1: much passing away their children. The baby boomers are on average,

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Speaker 1: what in their late sixties and or in mid seventies.

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Speaker 1: They are no longer working, although many of them because

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Speaker 1: of inflation, have had to go back to work because

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Speaker 1: whatever their money they're making on a broken social security

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Speaker 1: system is forcing them back into the workforce. It drives

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Speaker 1: me absolutely nuts to think about grandma and grandpa having

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Speaker 1: to be Walmart readers because their pension funds aren't paying

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Speaker 1: them enough. Now, I know what you're going to say,

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Speaker 1: You're gonna be like rut an Halt, buddy. These damn

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Speaker 1: tariffs are are whacking the hell out of the markets.

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Speaker 1: They're destroying these pension funds they're not these fixed income

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Speaker 1: accounts and all this it's destroying it. Listen, I'm going

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Speaker 1: to tell you guess what, we were almost twenty some

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Speaker 1: percent higher than the lows that we were in twenty

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Speaker 1: one twenty two in the markets. Right, twenty two is

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Speaker 1: an absolute calamity in the markets. Right, but that came back.

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Speaker 1: So are we off on the bottoms nowhere near? We're

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Speaker 1: way We're still way up. And also if you're not

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Speaker 1: familiar with the markets over the history of highs and

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Speaker 1: lows based on these different economic cycles, well then stand

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Speaker 1: by to stand by because today's guest is going to

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Speaker 1: be absolutely informative, not only about the tariff situation, but

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Speaker 1: also with what's going on with the history of the markets. Right.

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Speaker 1: My point I want you to understand, what today's episode

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Speaker 1: on The David Rutherford Show is designed to do is

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Speaker 1: to educate you in a more common sense approach. Right.

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Speaker 2: That's what we're here to do on this show.

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Speaker 1: Is my job is to be a flash bang of

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Speaker 1: truth for you to help make give you a common

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Speaker 1: sense approach toing nite critical thinking so you can better

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Speaker 1: understand what's going on in the world's issues. My mission,

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Speaker 1: I want to get the middle class back to work.

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Speaker 1: I want to reindustrialize American might and prowess, and I

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Speaker 1: believe President Trump is doing that. Now we live in

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Speaker 1: this you know, scroll through world, and so everybody wants

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Speaker 1: it to happen yesterday. We're not even at one hundred

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Speaker 1: damn days yet, So slow your role, stand by and

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Speaker 1: get ready for what who I believe is one of

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Speaker 1: the best young economists that's out there in the world,

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Speaker 1: mister Bryce Gill, So stand by to stand by because

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Speaker 1: he's coming on the show.

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Speaker 3: Who Yah, Welcome to the David Rutherford Show.

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Speaker 2: Man. Have I got a big one for you today? Man?

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Speaker 1: You want to talk about terror fors, you want to

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Speaker 1: talk about the war and the economy, you want to

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Speaker 1: talk warren elites. Well, guess what today I am bringing

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Speaker 1: on one of the best dudes I've ever met in

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Speaker 1: my wife, Bryce Gill, who's who's one of the top

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Speaker 1: economists for one of the biggest asset managed for management

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Speaker 1: firms in the country in the world. Uh. But my

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Speaker 1: favorite part about Bryce is uh is the fact that

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Speaker 1: he's a gorilla gun major and he's the man that

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Speaker 1: I go to when I'm looking at what next gun

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Speaker 1: bild I need to have what subgun's the coolest? What's

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Speaker 1: suppressor I have? And Jordan man if before we get

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Speaker 1: them on, can you just play that that that that

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Speaker 1: video for us real quick.

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Speaker 2: Brother. I can see you.

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Speaker 1: Out, ladies and gentlemen, the handlebar economists himself, Bryce Gill,

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Speaker 1: what's up?

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Speaker 2: Brother?

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Speaker 4: What's up? Dave? This is so fun man, I'm so

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Speaker 4: glad to be with you here today, and we couldn't

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Speaker 4: have picked a better time to do it. I mean,

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Speaker 4: the world is going crazy and people I think need

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Speaker 4: a little perspective on what's going on.

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Speaker 1: So well, that's why you're here. So let's not dally

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Speaker 1: dally man. Let's jump right in. So let me ask

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Speaker 1: you this is Is this Trump waging war against our

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Speaker 1: adversaries from a national security perspector of a global economy reset?

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Speaker 1: Or is this really what I believe it is, which

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Speaker 1: is Trump waging war for the for the the average dude,

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Speaker 1: the person that works hard, the guy that doesn't have

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Speaker 1: a huge market portfolio or giant, you know, real estate portfolio,

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Speaker 1: and he's waging war for that dude against the elites

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Speaker 1: in the world.

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Speaker 4: What do you think, man, it's it's I think it's

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Speaker 4: kind of both, to be honest with you. So, when

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Speaker 4: you think about tariffs and trade barriers and globalization and

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Speaker 4: everything else, a lot of this starts in World War

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Speaker 4: One and World War Two, especially post World War two.

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Speaker 4: When you think about it, we're the only ones that

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Speaker 4: didn't get bombed, right, Dave. So we're basically the monopoly

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Speaker 4: producers and exporters of everything after World War Two, and

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Speaker 4: we had a huge incentive to push an idea of

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Speaker 4: free trade. Right. We wanted everybody to lower their tariffairs.

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Speaker 4: We wanted to integrate the global community in trade, because hey,

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Speaker 4: when goods don't cross borders, soldiers will, as Friedrich Bostiat,

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Speaker 4: one of my favorite economists, always said, And so hey,

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Speaker 4: we pushed free trade. We integrated the world in commerce.

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Speaker 4: The United States was the monopoly producer and exporter of everything,

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Speaker 4: and you know, giving basically access to our consumer market

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Speaker 4: in the United States. It was a way to get

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Speaker 4: countries on our side in the Cold War as well. Right,

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Speaker 4: choose the United States, you get to sell the richest

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Speaker 4: people in the world. Choose the Soviets. We're locking you out.

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Speaker 4: And so over time, hey, trade barriers fall, we you know,

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Speaker 4: integrate the global community. But where things really started to

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Speaker 4: get crazy, I think and start affecting basically the middle

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Speaker 4: class or normal people in the United States was abster

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Speaker 4: the fall of the Soviet Union. You know, then ten

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Speaker 4: years after that China joins the WTO. When you think

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Speaker 4: about it big picture, like americot got access to all

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Speaker 4: this cheap labor and materials in a really short period

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Speaker 4: of time. We had the Internet, we had container shipping,

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Speaker 4: to the arbitrage at all. And so this is the

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Speaker 4: period like nineteen ninety to let's say twenty twenty, where

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Speaker 4: globalization goes into overdrive. We're basically outsourcing all our industrial

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Speaker 4: capacity to the rest of the world. The idea in

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Speaker 4: like maybe elite circles was, hey, let's take advantage of

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Speaker 4: all this cheap labor. We'll build up, like the middle classes,

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Speaker 4: a broad at the expense of our own middle class,

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Speaker 4: and it's great for us, it's great for our profits,

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Speaker 4: and hey, we'll give people cheap consumer goods. Kind of

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Speaker 4: on the other end, that was sort of the deal.

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Speaker 4: And at the time, remember it's like the unipolar moment, right,

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Speaker 4: there's no other major superpower to confront the United States,

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Speaker 4: So this felt like kind of a safe thing to do.

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Speaker 4: So value do we outsource a lot of our manufacturing

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Speaker 4: and things like electronics or automobiles or whatever. We also

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Speaker 4: outsourced manufacturer of like the entire defense industrial base, right wow,

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Speaker 4: And so I think now it's it's a reverse of this.

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Speaker 4: Right like thirty years the middle class has had to

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Speaker 4: compete with somebody in China making ten percent as much

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Speaker 4: an hour. Their wages really haven't grown because of this.

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Speaker 4: And on top of that, COVID exposed huge geopolitical risks

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Speaker 4: in our supply chains. And so now I think basically

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Speaker 4: both of these are playing in here. On one hand,

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Speaker 4: You've got a lot of people that are worry about

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Speaker 4: national security, that want to bring certain critical industries back

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Speaker 4: to the United States. And certainly a huge part of

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Speaker 4: Donald Trump's base was people voting for him as like

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Speaker 4: a backlash against globalization or elites essentially, you know, shipping

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Speaker 4: our industrial base overseas, profiting from it at the expense

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Speaker 4: of domestic labor. So it all sort of ties together,

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Speaker 4: to be honest, and it's a it's a really interesting

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Speaker 4: and basically long running story for the United States as

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Speaker 4: a superpower.

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Speaker 1: I love how you frame the context that this is

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Speaker 1: you know, this has been manufactured.

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Speaker 2: As a result of our own policy, right.

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Speaker 1: I mean I think, you know, really giving people, especially

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Speaker 1: younger people, young young men out there that are trying

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Speaker 1: to find, you know, where am I going to find

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Speaker 1: my next job? Because for the last fifteen years, everybody's

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Speaker 1: been like, oh, learn to code.

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Speaker 2: Well guess what, AI's going to.

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Speaker 4: Destroy it out.

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Speaker 1: But they're out, They're gone, And so it's like, all right,

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Speaker 1: well what do I do? And if you, if you,

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Speaker 1: if you pay attention to one of my favorite people

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Speaker 1: on a planet, dirty Jobs Mike row you know, with

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Speaker 1: with close to seven hundred and fifty thousand available jobs

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Speaker 1: with h FAX plumbers, the whole thing, it's like, yeah,

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Speaker 1: but we we also need that ability for these people

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Speaker 1: to to to compete, eat in all those different places, right,

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Speaker 1: to be able to you know, begin their own businesses

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Speaker 1: so that they can im creuse some wealth and get

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Speaker 1: in the markets potentially. But I also know that and

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Speaker 1: based on just listening to you for last three years,

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Speaker 1: is is COVID really reset this in a way I

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Speaker 1: think people don't quite understand and the necessity of it,

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Speaker 1: right with the exposure of the supply chain issues, but

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Speaker 1: more importantly for from from what I understand is is

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Speaker 1: you know that one point what seven trillion dollar infusion

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Speaker 1: of money flooding into our our system.

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Speaker 2: You know, how does that radical shift in.

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Speaker 1: The M two number, How does that get us to

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Speaker 1: a place where you know, maybe the markets were going

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Speaker 1: to reset anyways, you know, or or you know, and

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Speaker 1: that this whole focus on tariffs might not be as

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Speaker 1: wealth founded as a lot of you know, the pundits

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Speaker 1: are making it believe, making us beleeve.

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Speaker 4: Yeah. So, I we just went through the worst inflation

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Speaker 4: in forty years in the United States, and I just

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Speaker 4: think it's as an issue, been massively overcomplicated since the

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Speaker 4: COVID pandemic. Inflation is really pretty simple. At the end

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Speaker 4: of the day, it's just too much money chasing too

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Speaker 4: few goods. And so during COVID, we printed five trillion

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Speaker 4: dollars and then we shut down the global production system. Right,

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Speaker 4: there's just fewer goods and more dollars. So it's the

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Speaker 4: most textbook example of what would cause a surge in

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Speaker 4: inflation in the United States. Since then, inflation's improved a lot.

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Speaker 4: It's because we stopped printing money and we reopened the economy, right,

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Speaker 4: so it's pretty simple stuff. But with regards to like

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Speaker 4: the market correction we're having headed into this year, we're

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Speaker 4: at a company called First Trust. We're like the only

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Speaker 4: ones calling for a market correction on anyone on Wall Street.

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Speaker 4: I'm sure a lot of people have changed their forecasts now,

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Speaker 4: but you know, profits and interest rates are what drive

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Speaker 4: the market evaluations over time, and so we went from

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Speaker 4: being bullish on the market since like eighth nine to

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Speaker 4: change in our tune. And it's really just because interest

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Speaker 4: rates rose so much, and interest rates rose a lot

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Speaker 4: because we had the highest inflation in forty years, and

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Speaker 4: the Fed had to respond, right, and so COVID certainly

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Speaker 4: reset a lot of things. It reset not only the

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Speaker 4: economy or with all the reshoring, it changed the status

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Speaker 4: quo around globalization. It also changed, I guess a lot

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Speaker 4: of preconceived notions about the stock market. And there was

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Speaker 4: this idea Dave called the Fed put that has existed

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Speaker 4: for the past thirty years when we had a bond

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Speaker 4: bull market, which means interest rates were falling since the

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Speaker 4: early nineteen eighties, that anytime there was a problem in

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Speaker 4: the economy or in the stock market, the Federal Reserve

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Speaker 4: would come in and cut interest rates and save the day. Right,

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Speaker 4: and now the problem is, hey, they caused the worst

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Speaker 4: inflation in forty years. They basically have to sit on

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Speaker 4: the sidelines. Now they're not going to be able to

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Speaker 4: come to the rescue anymore. I think still a lot

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Speaker 4: of investors, and I travel around the country talking to

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Speaker 4: investors every day, a lot of investors had not been

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Speaker 4: able to, you know, essentially integrate this into their their

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Speaker 4: mindset that the Fed's not coming to rescue you. It's

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Speaker 4: just kind of Hey, that's why we're in the wild West.

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Speaker 4: That's why we have all this volatility happening. We got

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Speaker 4: to figure out our issues with the government budget, We

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Speaker 4: got to figure out inflation, we got to figure out

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Speaker 4: supply chains, and you know, we can't just print money

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Speaker 4: to solve our issues anymore.

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Speaker 2: That's fascinating.

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Speaker 1: Okay, So there's a market correction that you all been

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Speaker 1: predicting for a while, right, and because what tech? Those

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Speaker 1: seven tech companies they can't care continue carrying us.

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Speaker 2: But is it the idea?

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Speaker 1: Do you believe that the idea with Trump and the

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Speaker 1: administration is that if we put these tariffs out there

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Speaker 1: on the global economy, we give our producers of goods

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Speaker 1: and a much greater opportunity to get back in the game,

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Speaker 1: to get back.

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Speaker 2: In the fight.

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Speaker 1: And then also what he's he's I just read yesterday

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Speaker 1: that he's brought in seven trillion dollars of investment. I mean,

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Speaker 1: I think somebody in the Middle East brought has committed

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Speaker 1: a trillion dollars.

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Speaker 2: Now, that's all commitments. That's all like a lot of like, hey,

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Speaker 2: look at me on TV.

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Speaker 1: I'm we're behind Trump because we either don't want to

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Speaker 1: get bombed or we want to work with them, you know.

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Speaker 1: And it's like, all right, it is is this the

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Speaker 1: push that you believe is feasible that this well take

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Speaker 1: place eventually? Or could it cost some more catastrophic outcomes?

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Speaker 4: Yeah, So I'll touch you on the tariffs in a second,

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Speaker 4: but I'll just say, like, reshorting to the United States,

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Speaker 4: I think is happening regardless of if we have tariffs

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Speaker 4: or not. Okay, I think tarriffs obviously incentivized it to

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Speaker 4: happened faster. But the reality is, you know, COVID hits Okay,

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Speaker 4: it makes everybody question the status quo on globalization. It

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Speaker 4: was sort of a republican issue or like a maga

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Speaker 4: issue until COVID hit and then nobody could buy pa

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Speaker 4: you know, toilet paper and baby for formula, and now

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Speaker 4: everybody agrees, hey, this is a problem. It's very by

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Speaker 4: part is an issue. We passed the chipsacked the Inflation

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Speaker 4: Reduction Act to incentivize reshorting. Under Joe Biden. Okay, factory

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Speaker 4: construction is tripled in two years in the United States.

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Speaker 1: So this is.

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Speaker 4: Concretely happening in a very fast way. And so some

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Speaker 4: people I think still look at this is like, hey,

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Speaker 4: it's government policy or it's just like a response to COVID.

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Speaker 4: And what I really like try to emphasize to people

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Speaker 4: and why I've been talking about this since twenty sixteen

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Speaker 4: is just we went abroad and globalization. Part of it,

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Speaker 4: right is you know, world peace or the American Empire

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Speaker 4: or fighting the Soviets or whatever. But a huge part

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Speaker 4: of this stage.

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Speaker 2: I love how you just I love that you just

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Speaker 2: brush over.

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Speaker 4: We can touch on all that if you want, but

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Speaker 4: not in this one.

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Speaker 1: Not I get you on in a week or two

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Speaker 1: and we'll we'll dig into that, right, But.

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Speaker 4: Like, really like the huge thing that's and like here's

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Speaker 4: the thing, Like there's always rhetoric. There's always like a

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Speaker 4: you know, like a nice story we paint as a

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Speaker 4: veneer on top of like our economic interest a lot

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Speaker 4: of times. So I think the reality is the economic

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Speaker 4: interest behind globalization for the United States was an abundance

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Speaker 4: of cheap labor right all over the world. And the

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Speaker 4: reality is if you look at demographics globally, demographics are

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Speaker 4: peaking basically everywhere. Right China's population is going to fall

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Speaker 4: by forty percent through the end of the century. Wow,

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Speaker 4: South Korea is going to be like ninety percent of

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Speaker 4: the South Koreans are going to be gone by you know,

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Speaker 4: twenty one hundred or something.

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Speaker 2: That's crazy.

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Speaker 4: Thing in Eastern Europe, same thing in Vietnam, same thing

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Speaker 4: in all these places. And so what I would just

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Speaker 4: emphasize to people, and we'll talk about tariffs in a second,

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Speaker 4: is just the cheap labor is going away no matter what, okay,

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Speaker 4: And so if the supply goes down, the price goes up,

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Speaker 4: and so it doesn't make sense to make things in

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Speaker 4: China anymore. That's that's the real issue. And in a

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Speaker 4: lot of other places. And so the United States we

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Speaker 4: consume everything for the whole world, and We're looking at

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Speaker 4: this and saying, if we don't get the cheap labor

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Speaker 4: out of it, like, what's even the point of this deal.

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Speaker 4: We can just make it ourselves. So reshooring is going

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Speaker 4: to continue to happen no matter what, in my opinion,

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Speaker 4: because the cheap labor is going away. Now, how that's cool.

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Speaker 4: The tariffs, okay, are like the government policy around this

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Speaker 4: is an effort to basically get out front of this

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Speaker 4: trend and kind of control it from the front instead

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Speaker 4: of kind of getting pulled along from behind by like

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Speaker 4: the broader macroeconomic trying to peaking demographics. Okay, So tariffs,

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Speaker 4: what they do? You just tax stuff at the border

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Speaker 4: as it gets imported, and by doing that you make

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Speaker 4: it artificially more expensive. And so say, like you know,

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Speaker 4: the US Defense Department wants to put semiconductors in it's

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Speaker 4: like drones or hellfire missiles or whatever, and they're looking

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Speaker 4: at who's an option. Maybe Intel will sell you that

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Speaker 4: chip for fifty bucks, and maybe TSMC will sell it

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Speaker 4: to you for forty bucks if you tear off the

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Speaker 4: semiconductor at the border at twenty five percent. Now they're

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Speaker 4: the exact same price domestically for the Defense Department to buy.

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Speaker 4: They're probably going to go with the American maker Intel instead,

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Speaker 4: or TSMC could say, Hey, the Defense Department's a pretty

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Speaker 4: important client for us, maybe we should just build a

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Speaker 4: factory in the United States and that way you don't

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Speaker 4: have to worry about the tariffs anyway. And so the

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Speaker 4: reality is here, guy, is like, we have the huge

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Speaker 4: domestic market. We buy everything from the entire world basically,

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Speaker 4: and so we can throw our weight around a little

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Speaker 4: bit here and say, hey, we want more stuff made

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Speaker 4: in the United States. I don't think it's the end

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Speaker 4: of the world. It's interesting you mention all these like

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Speaker 4: investment commitments, Dave, because I was just on my Bloomberg

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Speaker 4: terminal this morning and there's a bunch of economists talking about, Hey,

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Speaker 4: this tariff war is going to cause like a global recession,

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Speaker 4: and I don't I wouldn't be surprised if it hurts China, right,

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Speaker 4: or it hurts like Malaysia or something. It probably will, frankly,

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Speaker 4: But the reality is, you know, they're saying, hey, companies

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Speaker 4: are going to pull back investment because of uncertainty in

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Speaker 4: the United States, and I would just really question that

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Speaker 4: assumption because the reality is again, factory construction is tripled

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Speaker 4: in two years in the United States. You have now

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Speaker 4: six trillion dollars or whatever of committed investment from different people.

435
00:24:06,240 --> 00:24:08,159
Speaker 4: It hasn't been spent. I got it. It's You're right,

436
00:24:08,200 --> 00:24:10,920
Speaker 4: a lot of it is pr but like it looks

437
00:24:10,960 --> 00:24:12,720
Speaker 4: to me like the tariffs are causing a huge wave

438
00:24:12,760 --> 00:24:17,280
Speaker 4: of investment by basically every observable metric. So I would

439
00:24:17,320 --> 00:24:19,560
Speaker 4: be very skeptical of claims that, hey, we're about to

440
00:24:19,560 --> 00:24:22,080
Speaker 4: go into recession because of tariffs in the United States.

441
00:24:22,280 --> 00:24:24,240
Speaker 2: I love that. Thank you for saying that.

442
00:24:24,320 --> 00:24:24,520
Speaker 4: Now.

443
00:24:24,680 --> 00:24:28,360
Speaker 1: The one thing that obviously not obviously, but the thing

444
00:24:28,440 --> 00:24:34,640
Speaker 1: that kind of like the fact that we're we're we've

445
00:24:35,240 --> 00:24:37,800
Speaker 1: been at the precipice of a bear market for a while.

446
00:24:37,840 --> 00:24:40,600
Speaker 2: It's like, okay, who's going to get hurt by that? Right?

447
00:24:40,680 --> 00:24:45,280
Speaker 1: And the people that I think, for me, that I

448
00:24:45,359 --> 00:24:47,919
Speaker 1: worry most about are the people that are in all

449
00:24:47,960 --> 00:24:52,119
Speaker 1: those state pension funds, those federal pension funds. What do

450
00:24:52,160 --> 00:24:55,760
Speaker 1: you say to them with these market fluctuations, what do

451
00:24:55,800 --> 00:25:00,800
Speaker 1: you say to them in terms of, you know, whether

452
00:25:00,800 --> 00:25:02,719
Speaker 1: they're freaking out Because a lot of these people are

453
00:25:02,800 --> 00:25:06,520
Speaker 1: obviously on fixed income they're not sure. You know, these

454
00:25:06,720 --> 00:25:11,199
Speaker 1: investments are are the way with which they live. What

455
00:25:11,240 --> 00:25:14,640
Speaker 1: are you going to say to reassure these people that, hey,

456
00:25:15,160 --> 00:25:19,200
Speaker 1: this is a relatively short term thing in terms of

457
00:25:19,520 --> 00:25:22,719
Speaker 1: the over that I love. The one chart that you

458
00:25:22,760 --> 00:25:26,240
Speaker 1: guys always show is about, you know, how long recessions

459
00:25:26,280 --> 00:25:28,760
Speaker 1: actually last, the impact they have.

460
00:25:29,160 --> 00:25:32,480
Speaker 2: What advice do you give to those people.

461
00:25:32,160 --> 00:25:34,640
Speaker 1: That you know have their entire net worth in these

462
00:25:34,680 --> 00:25:35,560
Speaker 1: pension funds.

463
00:25:35,960 --> 00:25:37,920
Speaker 4: Yeah, and we can touch on recession if you want

464
00:25:37,960 --> 00:25:39,600
Speaker 4: to in a second, because personally, I don't think we're

465
00:25:39,600 --> 00:25:41,800
Speaker 4: going to have a recession, but certainly the market has

466
00:25:41,840 --> 00:25:44,439
Speaker 4: had a correction here, Okay, I think we're down, like

467
00:25:44,480 --> 00:25:46,320
Speaker 4: on the S and P five hundred 're down twelve

468
00:25:46,480 --> 00:25:51,320
Speaker 4: or thirteen percent from the peak. Okay, And so guy, honestly,

469
00:25:51,359 --> 00:25:52,760
Speaker 4: I mean, if you just look at some of the

470
00:25:52,800 --> 00:25:57,080
Speaker 4: math on corrections in the stock market, this doesn't look

471
00:25:57,119 --> 00:26:00,080
Speaker 4: that scary, just to be honest, Okay, we get a

472
00:26:00,119 --> 00:26:03,840
Speaker 4: ten percent correction in the United States, like every eight months,

473
00:26:04,160 --> 00:26:06,800
Speaker 4: we get like a fifteen percent correction in the stock

474
00:26:06,840 --> 00:26:09,840
Speaker 4: market every I think sixteen months. We got a twenty

475
00:26:09,880 --> 00:26:13,399
Speaker 4: percent correction basically every three years. If you just look

476
00:26:13,400 --> 00:26:15,399
Speaker 4: at like the last one hundred years of the stock market,

477
00:26:15,480 --> 00:26:18,120
Speaker 4: right so, I don't look at what's happening right now

478
00:26:18,240 --> 00:26:21,280
Speaker 4: is really anything outside the ordinary. Again, I think we

479
00:26:21,359 --> 00:26:25,080
Speaker 4: came into the tear overvalued on the stock market just

480
00:26:25,119 --> 00:26:27,800
Speaker 4: based on profits and interest rates, and so I was

481
00:26:27,840 --> 00:26:29,120
Speaker 4: sort of expecting a correction.

482
00:26:29,520 --> 00:26:29,680
Speaker 2: Now.

483
00:26:29,720 --> 00:26:32,000
Speaker 4: Tariffs have added uncertainty and they've kind of been a

484
00:26:32,000 --> 00:26:35,040
Speaker 4: catalyst one hundred percent. But when I look at like

485
00:26:35,119 --> 00:26:37,240
Speaker 4: the fundamentals of the US economy, I don't see like

486
00:26:37,880 --> 00:26:41,800
Speaker 4: any of the five hundred wealthiest you know, companies in

487
00:26:41,840 --> 00:26:44,600
Speaker 4: the country going out of business because of tariffs, right so,

488
00:26:45,640 --> 00:26:49,359
Speaker 4: And like the earnings picture, I think the stock market's

489
00:26:49,400 --> 00:26:52,119
Speaker 4: earnings are going to go up this year still, uh so,

490
00:26:52,720 --> 00:26:55,359
Speaker 4: there might be some margin pressure from labor or tariffs

491
00:26:55,440 --> 00:26:58,840
Speaker 4: or whatever, But big picture here, you know, I think

492
00:26:58,840 --> 00:27:00,919
Speaker 4: this is a stock market, correct. I don't think this

493
00:27:01,000 --> 00:27:02,960
Speaker 4: is the end of the world. I think the problem,

494
00:27:03,040 --> 00:27:06,960
Speaker 4: Dave is we all have smartphones in our pockets and

495
00:27:07,560 --> 00:27:10,200
Speaker 4: the media ecosystem and by the way, we're on a podcast,

496
00:27:10,240 --> 00:27:13,600
Speaker 4: it's long form. This is an effort to combat like

497
00:27:13,720 --> 00:27:17,840
Speaker 4: the disease of short form information, Okay, but to get

498
00:27:17,880 --> 00:27:22,919
Speaker 4: eyeballs you basically present negative information because it's ten times

499
00:27:23,040 --> 00:27:25,560
Speaker 4: you know, as effective at getting eyeballs as positive information.

500
00:27:26,160 --> 00:27:29,440
Speaker 4: You make things as dramatic as possible. And so hey,

501
00:27:29,480 --> 00:27:33,280
Speaker 4: stock market correction, Trump Tariff's end of the world. Like,

502
00:27:33,480 --> 00:27:35,440
Speaker 4: I don't know, I personally think we're not going to

503
00:27:35,480 --> 00:27:37,679
Speaker 4: be talking about the stock market in like six months.

504
00:27:37,720 --> 00:27:41,639
Speaker 4: I just I think Donald Trump's back in office, a

505
00:27:41,720 --> 00:27:47,240
Speaker 4: correction's happened. This is not outside like empirically normal behavior

506
00:27:47,280 --> 00:27:48,440
Speaker 4: in the stock market at all.

507
00:27:49,160 --> 00:27:49,600
Speaker 2: Awesome.

508
00:27:49,640 --> 00:27:51,880
Speaker 1: Well, I mean that answers a lot of the other

509
00:27:51,960 --> 00:27:56,800
Speaker 1: questions that I was having. Is obviously your your beliefs.

510
00:27:56,840 --> 00:27:58,720
Speaker 1: It's not going to have a dramatic effect on the

511
00:27:58,800 --> 00:28:02,080
Speaker 1: US economy. But you did mention the effect on China

512
00:28:02,280 --> 00:28:07,000
Speaker 1: some other Southeast Asian countries, could disaffect European Union. Could

513
00:28:07,040 --> 00:28:09,800
Speaker 1: it affect the bricks countries? I mean, how is it

514
00:28:09,840 --> 00:28:11,600
Speaker 1: going to impact them?

515
00:28:12,040 --> 00:28:14,639
Speaker 4: Yeah? So I guess first I'll start out by just saying, like,

516
00:28:14,760 --> 00:28:16,439
Speaker 4: let me contrast the United States is some of these

517
00:28:16,440 --> 00:28:19,679
Speaker 4: other places, quick, okay, because the reality is we have

518
00:28:19,720 --> 00:28:22,639
Speaker 4: a very self sufficient economy already in terms of like

519
00:28:22,760 --> 00:28:26,680
Speaker 4: overall economic activity back in like the eighteen hundreds, or

520
00:28:26,720 --> 00:28:29,480
Speaker 4: in World War One or whatever. We're an agricultural economy

521
00:28:29,480 --> 00:28:32,119
Speaker 4: and an industrial economy. We basically depend on exports for

522
00:28:32,160 --> 00:28:34,520
Speaker 4: a lot of our GDP, right, we make stuff and

523
00:28:34,520 --> 00:28:38,240
Speaker 4: shipping around the world. Today, Like seventy percent of the

524
00:28:38,360 --> 00:28:41,960
Speaker 4: US economy is services. It's me getting on a podcast

525
00:28:42,000 --> 00:28:45,560
Speaker 4: with you, somebody giving me accounting advice, me buying software,

526
00:28:45,840 --> 00:28:48,840
Speaker 4: you know, those types of getting a haircut. That's seventy

527
00:28:48,880 --> 00:28:52,160
Speaker 4: percent of consumer spending. So only thirty percent of consumer

528
00:28:52,200 --> 00:28:54,600
Speaker 4: spending is goods at all, and only a third of

529
00:28:54,640 --> 00:28:57,640
Speaker 4: those goods are actually imported goods. And so we're talking

530
00:28:57,680 --> 00:29:01,600
Speaker 4: about ten percent of consumer spending that's actually directly affected

531
00:29:01,600 --> 00:29:03,800
Speaker 4: by tariffs. And by the way, like I don't think

532
00:29:03,840 --> 00:29:07,440
Speaker 4: most people know thirty percent of our imports are from

533
00:29:08,000 --> 00:29:11,160
Speaker 4: Canada and Mexico, even though we talking about twenty five

534
00:29:11,160 --> 00:29:12,840
Speaker 4: percent tariffs on all of them. And there's been all

535
00:29:12,840 --> 00:29:15,960
Speaker 4: this debate around Canada Mexico, like the vast majority of

536
00:29:15,960 --> 00:29:17,800
Speaker 4: what they import to the United States comes in duty

537
00:29:17,840 --> 00:29:21,000
Speaker 4: free because of USMCA, we're not actually tariffing very much

538
00:29:21,240 --> 00:29:23,160
Speaker 4: from Canada Mexico right now, which I don't think is

539
00:29:25,640 --> 00:29:29,080
Speaker 4: renegotiated NAFTA we did it in Donald Trump's first from

540
00:29:29,120 --> 00:29:29,760
Speaker 4: the office.

541
00:29:30,000 --> 00:29:30,840
Speaker 2: Got it. Got it?

542
00:29:30,960 --> 00:29:32,959
Speaker 4: Okay. So you know, if you look at it, like

543
00:29:33,080 --> 00:29:37,200
Speaker 4: literally seven percent of like consumer spending is actually affected

544
00:29:37,200 --> 00:29:40,800
Speaker 4: by tariffs right now, So it's pretty small. The best estimates.

545
00:29:41,240 --> 00:29:43,120
Speaker 4: I like to look at the Tax Foundation. They're very

546
00:29:43,120 --> 00:29:45,320
Speaker 4: anti tax, anti tariff think tank. By the way, I'm

547
00:29:45,320 --> 00:29:48,360
Speaker 4: not cherry picking things. They say the tariffs that have

548
00:29:48,400 --> 00:29:52,560
Speaker 4: been instituted will have a negative point eight percent impact

549
00:29:52,600 --> 00:29:56,200
Speaker 4: on GDP. Wow, not even a one percent decline.

550
00:29:56,480 --> 00:29:57,240
Speaker 2: That's crazy.

551
00:29:57,440 --> 00:30:01,200
Speaker 4: COVID was minus ten percent, the oeight to nine financial

552
00:30:01,240 --> 00:30:04,040
Speaker 4: crisis was minus five percent to GDP. So we're talking

553
00:30:04,040 --> 00:30:06,480
Speaker 4: a fraction of those things. And again I think they're

554
00:30:06,480 --> 00:30:09,400
Speaker 4: modeling a worst case scenario that does not include a

555
00:30:09,480 --> 00:30:12,400
Speaker 4: huge booming investment because of the tariffs. Okay. So I'll

556
00:30:12,440 --> 00:30:14,400
Speaker 4: start out there and say the America, we're just not

557
00:30:14,520 --> 00:30:18,520
Speaker 4: really that dependent on foreign trade for the overall economy. Okay.

558
00:30:19,520 --> 00:30:22,719
Speaker 4: When you contrast that with like China for example, or

559
00:30:22,880 --> 00:30:27,000
Speaker 4: Germany for example, or say like Vietnam or Malaysia, those

560
00:30:27,040 --> 00:30:31,880
Speaker 4: economies or Japan, those economies are very export dependent. They

561
00:30:32,360 --> 00:30:35,040
Speaker 4: produce a lot and export it and then they have

562
00:30:35,080 --> 00:30:38,280
Speaker 4: a very high savings rate. They don't actually consume all

563
00:30:38,360 --> 00:30:41,160
Speaker 4: that they produce, right, Whereas we're the opposite. We have

564
00:30:41,360 --> 00:30:43,360
Speaker 4: a high consumption rate in a low savings right, and

565
00:30:43,360 --> 00:30:46,000
Speaker 4: we buy from the rest of the world. So if

566
00:30:46,000 --> 00:30:48,400
Speaker 4: we just start making more for ourselves.

567
00:30:48,120 --> 00:30:50,880
Speaker 2: That's all those late night Amazon purchases, right.

568
00:30:51,000 --> 00:30:52,920
Speaker 4: Yeah, which are about to get a lot more expensive.

569
00:30:52,960 --> 00:30:55,120
Speaker 4: By the way, Like you look at the total teub

570
00:30:55,160 --> 00:30:56,880
Speaker 4: on China is like sixty percent right.

571
00:30:56,720 --> 00:30:58,520
Speaker 2: Now, which oh my god, insane.

572
00:30:58,760 --> 00:31:02,280
Speaker 4: But you know, the big picture is, yeah, they need

573
00:31:02,320 --> 00:31:05,200
Speaker 4: to export to us because we're the ones that buy everything.

574
00:31:05,720 --> 00:31:07,640
Speaker 4: And so what is Germany going to do? What are

575
00:31:07,760 --> 00:31:10,400
Speaker 4: what's China going to do? What's Japan gonna do if

576
00:31:10,400 --> 00:31:13,440
Speaker 4: they lose their biggest export market. Basically, they got to

577
00:31:13,440 --> 00:31:15,440
Speaker 4: start making more stuff for their own people and people

578
00:31:15,480 --> 00:31:18,400
Speaker 4: actually have to go out and spend money there, and

579
00:31:18,560 --> 00:31:21,480
Speaker 4: that's you get a little bit more balanced economy. So

580
00:31:21,520 --> 00:31:23,120
Speaker 4: I think that's what China has to do here. They

581
00:31:23,120 --> 00:31:25,000
Speaker 4: just got to actually make things for their own own

582
00:31:25,040 --> 00:31:28,040
Speaker 4: people and boost their own people's like standard of living,

583
00:31:28,560 --> 00:31:30,160
Speaker 4: and that's been talked about for years and they just

584
00:31:30,160 --> 00:31:31,160
Speaker 4: haven't been able to do it.

585
00:31:31,280 --> 00:31:36,200
Speaker 1: So what I mean, this sounds like actually, I mean,

586
00:31:36,280 --> 00:31:39,040
Speaker 1: obviously the way I kind of view the world is

587
00:31:39,400 --> 00:31:44,600
Speaker 1: through a geostrategic mindset, right, just from my background, this

588
00:31:44,680 --> 00:31:48,920
Speaker 1: actually sounds like it could be a very positive impact

589
00:31:49,040 --> 00:31:53,800
Speaker 1: on gaining a greater leverage against China as it relates

590
00:31:53,880 --> 00:31:59,719
Speaker 1: to all the little you know, the little chirping we

591
00:31:59,800 --> 00:32:05,640
Speaker 1: hear are out there about war in Taiwan and semiconductors.

592
00:32:04,600 --> 00:32:05,360
Speaker 2: And all this stuff.

593
00:32:05,480 --> 00:32:07,640
Speaker 1: I mean, this sounds like we can gain a pretty

594
00:32:07,680 --> 00:32:12,440
Speaker 1: significant amount of leverage against China, especially with the fact

595
00:32:12,480 --> 00:32:15,640
Speaker 1: that you know, their economy, if I'm not mistaken, is

596
00:32:16,040 --> 00:32:17,240
Speaker 1: not great anyways.

597
00:32:17,320 --> 00:32:21,160
Speaker 4: Correct, Well, yeah, so China. You know, their economy grew

598
00:32:21,200 --> 00:32:24,320
Speaker 4: ten percent a year for decades, right because one, their

599
00:32:24,400 --> 00:32:27,280
Speaker 4: demographics were booming and there's a lot more people every year.

600
00:32:27,760 --> 00:32:30,080
Speaker 4: And two they just imported technology from the rest of

601
00:32:30,080 --> 00:32:32,040
Speaker 4: the world. Maybe that's like a polite way to say it, right,

602
00:32:32,040 --> 00:32:35,239
Speaker 4: They stole a lot of technology too, right, So the

603
00:32:35,280 --> 00:32:38,600
Speaker 4: combination of that makes GDP boom. You go from like

604
00:32:38,640 --> 00:32:41,400
Speaker 4: an ox Dron carriage to like a John Deere tractor

605
00:32:41,400 --> 00:32:43,120
Speaker 4: in your field. You have to invent that, you just

606
00:32:43,160 --> 00:32:45,120
Speaker 4: import it from the rest of the world, right, And

607
00:32:45,200 --> 00:32:49,320
Speaker 4: so the problem China has now is Okay, all of

608
00:32:49,360 --> 00:32:52,200
Speaker 4: a sudden, other demographics have peaked and started to decline

609
00:32:52,720 --> 00:32:54,480
Speaker 4: because of the one child policy and a bunch of

610
00:32:54,560 --> 00:32:57,480
Speaker 4: other stuff that goes into like the nitty gritty of demographics.

611
00:32:58,240 --> 00:32:59,840
Speaker 4: But on top of that, they're in a trade war

612
00:32:59,880 --> 00:33:03,760
Speaker 4: with like basically the whole world. Okay, so US tariffs,

613
00:33:03,840 --> 00:33:06,280
Speaker 4: I know this is like in the news right now, Okay,

614
00:33:06,280 --> 00:33:08,520
Speaker 4: but China's just been in a giant trade war with

615
00:33:08,560 --> 00:33:11,400
Speaker 4: Europe in the past year. Europe put one hundred percent

616
00:33:11,480 --> 00:33:15,840
Speaker 4: tariff on Chinese electric cars. Wowkay, So you know they're

617
00:33:15,880 --> 00:33:18,960
Speaker 4: losing export markets everywhere. Basically everyone's saying, hey, we don't

618
00:33:19,000 --> 00:33:21,480
Speaker 4: want to export like our high technology stuff to China

619
00:33:21,520 --> 00:33:24,840
Speaker 4: anymore because we don't trust them. And so China's getting

620
00:33:24,840 --> 00:33:27,520
Speaker 4: whacked not only on demographics, but they're getting whacked on

621
00:33:27,600 --> 00:33:31,440
Speaker 4: technology access too, And so yeah, there are economies in

622
00:33:31,520 --> 00:33:33,720
Speaker 4: huge trouble. In my opinion, people might have heard of

623
00:33:33,760 --> 00:33:38,320
Speaker 4: like the ever Grande real estate collapse. Basically, normal Chinese

624
00:33:38,320 --> 00:33:40,880
Speaker 4: people don't get access to the stock market. Okay, you

625
00:33:40,920 --> 00:33:43,080
Speaker 4: got like a bank account, or you can buy real estate.

626
00:33:43,160 --> 00:33:46,200
Speaker 4: That's how you invest, Okay, So everybody went out and

627
00:33:46,240 --> 00:33:48,480
Speaker 4: bought like these condos, or they'd like take out a

628
00:33:48,520 --> 00:33:50,760
Speaker 4: mortgage for like a building that wasn't even built yet.

629
00:33:51,040 --> 00:33:53,360
Speaker 2: The ghost cities, right, yeah, the ghost cities.

630
00:33:54,080 --> 00:33:56,240
Speaker 4: And now everybody over there is looking around and saying

631
00:33:56,280 --> 00:33:58,479
Speaker 4: there's going to be forty percent less people in like

632
00:33:58,560 --> 00:34:01,240
Speaker 4: sixty years. Who am I supposed to sell this condo to?

633
00:34:02,160 --> 00:34:02,320
Speaker 1: Right?

634
00:34:02,400 --> 00:34:05,000
Speaker 4: So what's happened is all the real estate values are crashing.

635
00:34:05,480 --> 00:34:07,240
Speaker 4: It's like two thousand and eight, two thousand and nine

636
00:34:07,240 --> 00:34:10,680
Speaker 4: one steroids over there. So China's a huge trouble. They've

637
00:34:10,680 --> 00:34:11,759
Speaker 4: got a lot of problems.

638
00:34:12,680 --> 00:34:15,560
Speaker 1: Wow, that that's now, I think, you know, that's the

639
00:34:15,680 --> 00:34:20,440
Speaker 1: context that that that most people are are as you said,

640
00:34:20,600 --> 00:34:23,399
Speaker 1: you know, whether it's your you know how fast you're

641
00:34:23,440 --> 00:34:25,080
Speaker 1: screaming through X right now.

642
00:34:25,400 --> 00:34:26,719
Speaker 2: To be able to stop.

643
00:34:26,480 --> 00:34:29,640
Speaker 1: And and and give this some some context is significant.

644
00:34:29,680 --> 00:34:32,319
Speaker 1: And that's why I love listening to you as much

645
00:34:32,360 --> 00:34:34,239
Speaker 1: as I do. Dude, you just are you have that

646
00:34:34,360 --> 00:34:38,640
Speaker 1: breadth of knowledge. So all right, the last question for

647
00:34:38,719 --> 00:34:41,719
Speaker 1: this segment. You know, and obviously we're going to have

648
00:34:41,760 --> 00:34:44,680
Speaker 1: additional segments if for those who want to, you know,

649
00:34:44,719 --> 00:34:47,440
Speaker 1: follow us on Patreon and some other places. You know,

650
00:34:47,520 --> 00:34:49,719
Speaker 1: but for this segment right now, what I what I

651
00:34:49,760 --> 00:34:53,440
Speaker 1: really want to do is kind of end with you know,

652
00:34:53,560 --> 00:34:57,239
Speaker 1: taking the opposing side for you for a second. And

653
00:34:57,239 --> 00:34:59,640
Speaker 1: and and really say, all right, all right, Bryce, your

654
00:34:59,640 --> 00:35:04,839
Speaker 1: advice European Union leaders right now, you're advising the IMF,

655
00:35:04,880 --> 00:35:08,919
Speaker 1: you're advising the bricks nations, right what do.

656
00:35:08,840 --> 00:35:10,480
Speaker 2: You tell them on.

657
00:35:12,760 --> 00:35:16,279
Speaker 1: How to evaluate this or how to combat this or

658
00:35:17,239 --> 00:35:19,959
Speaker 1: what are you saying to those groups of people right now?

659
00:35:21,280 --> 00:35:26,600
Speaker 4: Yeah, I'd say, hey, listen, the Americans have had unilaterally

660
00:35:26,640 --> 00:35:30,840
Speaker 4: low tariff barriers for a long time. They've really benefited

661
00:35:30,880 --> 00:35:34,279
Speaker 4: from globalization. We all have. And the reality is when

662
00:35:34,320 --> 00:35:36,800
Speaker 4: we look out there, a lot of the economic underpinnings

663
00:35:36,800 --> 00:35:39,920
Speaker 4: of globalization are starting to fall apart. Some of our

664
00:35:39,960 --> 00:35:42,840
Speaker 4: biggest export markets in the European Union are like Russia

665
00:35:42,880 --> 00:35:46,279
Speaker 4: and China, and we've become reliant on potentially some like

666
00:35:46,320 --> 00:35:52,400
Speaker 4: geopolitically unstable you know, sources of income. And so I

667
00:35:52,440 --> 00:35:55,920
Speaker 4: think we're basically at a point where, hey, it's like

668
00:35:56,080 --> 00:35:58,800
Speaker 4: America is telling you to choose. It's either you choose

669
00:35:58,880 --> 00:36:00,400
Speaker 4: China or you choose the West.

670
00:36:00,719 --> 00:36:01,080
Speaker 2: Wow.

671
00:36:01,160 --> 00:36:05,120
Speaker 4: And so I don't envy Europe for this decision. I mean,

672
00:36:05,120 --> 00:36:06,440
Speaker 4: they're in a tough place. By the way, they're the

673
00:36:06,440 --> 00:36:08,759
Speaker 4: Middle Continent, right, they're between east and West, and so

674
00:36:08,800 --> 00:36:12,279
Speaker 4: they've always been. But I think we need to come

675
00:36:12,320 --> 00:36:15,040
Speaker 4: to some type of agreement with Europe. Maybe it's that

676
00:36:15,160 --> 00:36:17,879
Speaker 4: they take care of more of their own defense and

677
00:36:17,920 --> 00:36:20,040
Speaker 4: we make some deals on like you know, the auto

678
00:36:20,080 --> 00:36:24,279
Speaker 4: industry tariffs or other kind of non tariff barriers. But

679
00:36:24,719 --> 00:36:26,600
Speaker 4: I would advise Europe to probably make a deal with

680
00:36:26,600 --> 00:36:28,520
Speaker 4: the United States. I think the United States has a

681
00:36:28,560 --> 00:36:31,640
Speaker 4: lot of natural advantages. I think we have a lot

682
00:36:31,680 --> 00:36:35,320
Speaker 4: more values in common than Europe does. And given the

683
00:36:35,360 --> 00:36:37,960
Speaker 4: way like the real world's reshaping, there's like a rising

684
00:36:38,040 --> 00:36:41,120
Speaker 4: eastern block. Again, which side does Europe want to be on?

685
00:36:41,200 --> 00:36:42,759
Speaker 4: Do they want to be on the side of the

686
00:36:42,840 --> 00:36:45,600
Speaker 4: United States and the West or on the East. And

687
00:36:45,640 --> 00:36:47,880
Speaker 4: they'll probably kind of play both sides to some extent.

688
00:36:47,960 --> 00:36:51,440
Speaker 4: I don't again forgrudge them for that, given their geographical location.

689
00:36:51,600 --> 00:36:54,560
Speaker 4: But this is what this tariff announcement by Donald Trump is.

690
00:36:55,239 --> 00:36:59,400
Speaker 4: It's basically saying, hey, we have our core of North America, USMCA,

691
00:37:00,160 --> 00:37:02,799
Speaker 4: and now we're going after everybody else and saying make

692
00:37:02,840 --> 00:37:06,480
Speaker 4: a choice. It's the United States or it's China. And

693
00:37:06,680 --> 00:37:09,120
Speaker 4: you know, Peru, if you want to export all your

694
00:37:09,120 --> 00:37:12,319
Speaker 4: fruit from the Sacred Valley up to Texas in the

695
00:37:12,360 --> 00:37:15,040
Speaker 4: grocery stores, then you can't hire China to build all

696
00:37:15,080 --> 00:37:17,520
Speaker 4: your infrastructure. It's not going to work like that anymore.

697
00:37:17,520 --> 00:37:19,480
Speaker 4: You can't have your cake and eat it to pick

698
00:37:19,520 --> 00:37:21,680
Speaker 4: a side. So I think we're gonna have to pick

699
00:37:21,719 --> 00:37:22,080
Speaker 4: a side.

700
00:37:22,120 --> 00:37:26,800
Speaker 1: Basically, this is like, this is the greatest news that

701
00:37:27,280 --> 00:37:30,360
Speaker 1: I think people could hear, right is is this is

702
00:37:30,400 --> 00:37:35,279
Speaker 1: finally giving us a little bit more leverage by our

703
00:37:36,480 --> 00:37:39,880
Speaker 1: using our economy, the economic engine of America, which.

704
00:37:39,719 --> 00:37:42,560
Speaker 2: Is by far the greatest on the planet.

705
00:37:42,600 --> 00:37:45,560
Speaker 1: And don't let any of these little squawk boxers over

706
00:37:45,600 --> 00:37:48,320
Speaker 1: here and over here detract you from that. The reality

707
00:37:48,440 --> 00:37:51,520
Speaker 1: is is we have the greatest economic machine that has

708
00:37:51,640 --> 00:37:55,040
Speaker 1: ever been created in human history. And this is part

709
00:37:55,080 --> 00:37:58,680
Speaker 1: of that plan to regain that whole thing. All right, Bryce, man,

710
00:37:58,719 --> 00:38:01,320
Speaker 1: I you know before I I let you go for this,

711
00:38:01,320 --> 00:38:04,839
Speaker 1: this spart right now, is I just want I gotta

712
00:38:05,040 --> 00:38:08,279
Speaker 1: have you give your advice. All right, what's the best

713
00:38:08,520 --> 00:38:14,919
Speaker 1: sub gun that's out there? And it could just describe

714
00:38:15,040 --> 00:38:18,759
Speaker 1: what makes you happy when you're on the range and

715
00:38:18,800 --> 00:38:20,279
Speaker 1: you're going big with a subgun.

716
00:38:20,719 --> 00:38:23,279
Speaker 4: Man, the best sub gun out there right now? That's

717
00:38:23,320 --> 00:38:26,319
Speaker 4: such a good question. I mean, honestly, I've just am

718
00:38:26,400 --> 00:38:27,719
Speaker 4: a sucker for the classics.

719
00:38:27,760 --> 00:38:27,920
Speaker 1: Man.

720
00:38:27,960 --> 00:38:29,919
Speaker 4: I think I like the MP five K the best

721
00:38:29,920 --> 00:38:33,640
Speaker 4: of anything. I wish they would like remake it with

722
00:38:33,760 --> 00:38:36,319
Speaker 4: maybe a bigger magwell funnel and maybe a little bit

723
00:38:36,320 --> 00:38:40,000
Speaker 4: better ergonomics on the grip and stuff. But anybody that

724
00:38:40,080 --> 00:38:43,880
Speaker 4: needs like a bolt release on their gun, like everything

725
00:38:43,880 --> 00:38:45,680
Speaker 4: doesn't have to be an Air fifteen. That's kind of

726
00:38:45,680 --> 00:38:49,120
Speaker 4: how I feel about it. The you know, the aesthetics

727
00:38:49,160 --> 00:38:51,319
Speaker 4: of the MP five, the ergonomics of the MP five

728
00:38:51,520 --> 00:38:54,160
Speaker 4: pulling back the charging head of locking it in, charging

729
00:38:54,160 --> 00:38:57,440
Speaker 4: a new mag and doing the slap like, it's so enjoyable.

730
00:38:57,640 --> 00:38:59,920
Speaker 4: So I would vote the MP five K. Honestly, I

731
00:39:00,080 --> 00:39:01,799
Speaker 4: think it's still the best subgun there is.

732
00:39:02,200 --> 00:39:05,440
Speaker 1: There's just there's a there's a different level of h

733
00:39:06,840 --> 00:39:10,879
Speaker 1: TAC tech. What the tac tiledness of the MP five right,

734
00:39:11,160 --> 00:39:13,560
Speaker 1: as well as the accuracy that's son of a bitch, man.

735
00:39:13,600 --> 00:39:16,839
Speaker 1: It's like my favorite gun I've ever shot as well too, man,

736
00:39:16,880 --> 00:39:19,400
Speaker 1: and you just can't beat it in the house for sure,

737
00:39:19,719 --> 00:39:20,640
Speaker 1: that's right, right man?

738
00:39:20,760 --> 00:39:24,000
Speaker 2: Uh, where can people find you? Where they? Where?

739
00:39:24,160 --> 00:39:24,320
Speaker 1: You know?

740
00:39:24,360 --> 00:39:26,840
Speaker 2: Again, who do you work for? Where can people find you?

741
00:39:27,200 --> 00:39:30,560
Speaker 1: And and just uh, you know what do you have

742
00:39:30,719 --> 00:39:32,360
Speaker 1: coming up in your life right now?

743
00:39:33,040 --> 00:39:35,080
Speaker 4: Yeah? So if you want to find my work, I'm

744
00:39:35,120 --> 00:39:37,800
Speaker 4: an economist of a company called First Trust Portfolios. You

745
00:39:37,840 --> 00:39:40,880
Speaker 4: can search the first Trust Economics Blog. We post everything

746
00:39:40,920 --> 00:39:43,160
Speaker 4: we write there, which is basically any economic data that

747
00:39:43,200 --> 00:39:46,200
Speaker 4: comes out. We're writing updates on it. All that stuff

748
00:39:46,239 --> 00:39:49,440
Speaker 4: is available for free. Everything's one page, easy to read,

749
00:39:49,520 --> 00:39:53,200
Speaker 4: easy to share. So I think those a great resource.

750
00:39:53,600 --> 00:39:55,600
Speaker 4: You can just search my name in Google. I do

751
00:39:55,680 --> 00:39:57,520
Speaker 4: a lot of interviews like this. They're kind of all

752
00:39:57,560 --> 00:40:01,200
Speaker 4: over the internet. I've also got an exic as well.

753
00:40:01,280 --> 00:40:03,240
Speaker 4: It's Daddy Fat stats.

754
00:40:05,000 --> 00:40:05,200
Speaker 1: Wich.

755
00:40:05,280 --> 00:40:08,640
Speaker 4: If anybody's an outcast fan, it's a big boy, right,

756
00:40:08,719 --> 00:40:11,640
Speaker 4: Daddy fat Stacks. But because I look at data, it's

757
00:40:11,719 --> 00:40:13,200
Speaker 4: Daddy Fat Stats.

758
00:40:15,040 --> 00:40:17,480
Speaker 2: Dude. I love you so much, it's not even funny.

759
00:40:17,600 --> 00:40:18,759
Speaker 2: I'm telling you what I.

760
00:40:20,840 --> 00:40:24,840
Speaker 1: Oh my god, ladies and gentlemen, mister Bryce Gil, thank you, brother.

761
00:40:24,680 --> 00:40:39,879
Speaker 5: I appreciate it. Thanks, welcome back.

762
00:40:40,080 --> 00:40:40,480
Speaker 4: Now.

763
00:40:41,160 --> 00:40:43,919
Speaker 1: If if you were like me and you just listen

764
00:40:43,960 --> 00:40:48,239
Speaker 1: to Bryce Gil you're blown away because the data that

765
00:40:48,320 --> 00:40:51,640
Speaker 1: he shared with us is undeniable. And what it proves

766
00:40:51,719 --> 00:40:56,640
Speaker 1: is that America still is and and my estimation will

767
00:40:56,719 --> 00:41:01,440
Speaker 1: always be what the benchmark economy world is well, at

768
00:41:01,520 --> 00:41:05,400
Speaker 1: least if if we can maintain our prowess as what

769
00:41:06,120 --> 00:41:10,520
Speaker 1: as not only the most financially sound with our markets

770
00:41:10,520 --> 00:41:13,680
Speaker 1: and our whatever, but because of the companies that keep

771
00:41:13,719 --> 00:41:18,239
Speaker 1: America going, because of those companies that set the standard

772
00:41:18,360 --> 00:41:22,120
Speaker 1: for production. Uh and then also because of the initiative

773
00:41:22,160 --> 00:41:25,080
Speaker 1: that that Trump and his cabinet are going to do

774
00:41:25,160 --> 00:41:28,640
Speaker 1: with these tariffs, which is to bring back the industrialized

775
00:41:28,800 --> 00:41:31,640
Speaker 1: might of America. And if we can do that, then

776
00:41:31,680 --> 00:41:36,200
Speaker 1: guess what. Then you and your wife, you and your friends,

777
00:41:36,480 --> 00:41:39,960
Speaker 1: You're going to have a well paying job that delivers

778
00:41:40,160 --> 00:41:44,440
Speaker 1: a powerful pension, that delivers you opportunity to have the

779
00:41:44,480 --> 00:41:47,280
Speaker 1: American dream, which is to you know, have a wife,

780
00:41:47,400 --> 00:41:50,919
Speaker 1: have children, or or have a job that pays you well,

781
00:41:50,920 --> 00:41:54,319
Speaker 1: that enables you to have a house and a community

782
00:41:54,400 --> 00:41:58,439
Speaker 1: that's that's supportive and really kind of to reshape what

783
00:41:59,520 --> 00:42:03,080
Speaker 1: the Mamerican myth uh at what we should call now

784
00:42:03,160 --> 00:42:07,000
Speaker 1: the American myth back into the actualization of the American

785
00:42:07,160 --> 00:42:11,120
Speaker 1: dream and that's possible, and it's possible if you get committed.

786
00:42:11,719 --> 00:42:13,359
Speaker 2: So I just I'm blown away.

787
00:42:13,400 --> 00:42:16,439
Speaker 1: Jordi, what do you think about Bryce Man? I mean,

788
00:42:16,960 --> 00:42:18,279
Speaker 1: if did he impact you?

789
00:42:18,360 --> 00:42:19,359
Speaker 2: I mean you're a young man.

790
00:42:19,400 --> 00:42:21,399
Speaker 1: Did he get you all fired up on how bad

791
00:42:21,400 --> 00:42:22,359
Speaker 1: ass America is?

792
00:42:22,880 --> 00:42:23,960
Speaker 4: Yeah? Absolutely?

793
00:42:24,200 --> 00:42:25,440
Speaker 2: Also, I just never.

794
00:42:25,920 --> 00:42:29,040
Speaker 6: Heard some of the facts that he was talking about.

795
00:42:29,120 --> 00:42:32,200
Speaker 6: Like I thought it was interesting him saying that the

796
00:42:32,320 --> 00:42:35,840
Speaker 6: onshooring is there's a wave of onshooring in America that's happening,

797
00:42:36,560 --> 00:42:39,520
Speaker 6: you know, with the tariffs, without the tariffs, Like this

798
00:42:39,600 --> 00:42:42,200
Speaker 6: is just in the country's blood right now, and there's

799
00:42:42,200 --> 00:42:44,279
Speaker 6: a there's a big movement behind that, and it just

800
00:42:44,360 --> 00:42:45,839
Speaker 6: kind of shows how important that is.

801
00:42:46,880 --> 00:42:47,120
Speaker 2: Man.

802
00:42:47,200 --> 00:42:50,200
Speaker 1: I learned a lot and I love that that that's

803
00:42:50,239 --> 00:42:53,319
Speaker 1: the positive outlook of of what happened from COVID. If

804
00:42:53,440 --> 00:42:58,200
Speaker 1: if you know, other than you know, millions of people

805
00:42:58,200 --> 00:43:00,920
Speaker 1: out there getting red pilled for or you know, the

806
00:43:01,000 --> 00:43:04,839
Speaker 1: reality is is that we've come to the realization that

807
00:43:05,320 --> 00:43:09,319
Speaker 1: we cannot count on the supply chain from China, and

808
00:43:09,440 --> 00:43:10,960
Speaker 1: what we are going to do is we're going to

809
00:43:11,040 --> 00:43:13,640
Speaker 1: count on our own supply chain. We're going to start

810
00:43:13,680 --> 00:43:17,440
Speaker 1: to build America, right, building a made in America is

811
00:43:17,480 --> 00:43:20,520
Speaker 1: going to be a real thing instead of assembled in America,

812
00:43:20,520 --> 00:43:22,400
Speaker 1: which drives me nuts, but it is what it is,

813
00:43:22,480 --> 00:43:25,040
Speaker 1: right all right. So you know, one of the cool

814
00:43:25,080 --> 00:43:27,960
Speaker 1: aspects that we really want to do at the end,

815
00:43:28,040 --> 00:43:31,080
Speaker 1: the final kind of segment or closing segment. And and

816
00:43:31,480 --> 00:43:34,400
Speaker 1: thanks to Jeordi being the musician that you are, buddy,

817
00:43:35,040 --> 00:43:36,840
Speaker 1: we're gonna call this the coda section.

818
00:43:37,000 --> 00:43:39,279
Speaker 2: Now describe this a little bit more.

819
00:43:39,280 --> 00:43:41,080
Speaker 1: What is a code of for these folks and for

820
00:43:41,120 --> 00:43:44,640
Speaker 1: all you don't know, Jordi is a musician at heart.

821
00:43:44,719 --> 00:43:47,440
Speaker 2: He's a true artist, just like me. So, Jeordie, what's

822
00:43:47,480 --> 00:43:47,880
Speaker 2: a coda?

823
00:43:48,080 --> 00:43:50,320
Speaker 6: Well, if I can remember back to my music school education,

824
00:43:50,440 --> 00:43:53,000
Speaker 6: the coda is the ending section of a musical piece,

825
00:43:53,360 --> 00:43:56,439
Speaker 6: and it's oftentimes a little bit different than anything else

826
00:43:56,480 --> 00:43:59,000
Speaker 6: you heard in that composition.

827
00:43:59,280 --> 00:44:00,759
Speaker 4: And so there's the whole piece, it's.

828
00:44:00,680 --> 00:44:02,880
Speaker 6: Going through its peaks and valleys, and then it's like

829
00:44:02,920 --> 00:44:04,920
Speaker 6: a little bonus at the end that they hit you

830
00:44:05,000 --> 00:44:07,520
Speaker 6: with right before you go. So that's what this section is.

831
00:44:07,520 --> 00:44:10,040
Speaker 6: I thought it's a good name. Bring back some multiple

832
00:44:10,120 --> 00:44:10,720
Speaker 6: music terms.

833
00:44:10,760 --> 00:44:14,360
Speaker 1: You know, let's go led Zeppelin, all right, that's just

834
00:44:14,440 --> 00:44:16,879
Speaker 1: my gen X right there. And maybe I'll review led

835
00:44:16,960 --> 00:44:19,120
Speaker 1: Zeppelin in the future in one of the code sections

836
00:44:19,520 --> 00:44:22,239
Speaker 1: that would be apropo. But in this one, what we

837
00:44:22,280 --> 00:44:23,680
Speaker 1: want to do is we're going to call it the

838
00:44:23,760 --> 00:44:27,920
Speaker 1: Vintage hard Story, right, and what we want to we

839
00:44:28,000 --> 00:44:31,720
Speaker 1: want to highlight are the people who were those old

840
00:44:31,800 --> 00:44:34,920
Speaker 1: school people who worked in the steel mills, who built

841
00:44:34,960 --> 00:44:39,120
Speaker 1: the skyscrapers in New York and Chicago and all over

842
00:44:39,160 --> 00:44:43,920
Speaker 1: the place that really exemplified the industrial might of the

843
00:44:43,920 --> 00:44:45,120
Speaker 1: American worker.

844
00:44:45,680 --> 00:44:48,640
Speaker 2: Right. Those are the people right with their.

845
00:44:48,080 --> 00:44:51,520
Speaker 1: Dirty hands and their bad backs and the covered and

846
00:44:51,600 --> 00:44:52,960
Speaker 1: soot from the coal mines.

847
00:44:53,520 --> 00:44:55,920
Speaker 2: You know, those are the men of.

848
00:44:55,880 --> 00:45:00,400
Speaker 1: This country that we owe a profound amount of a

849
00:45:00,480 --> 00:45:05,560
Speaker 1: debt and gratitude because we would not be here without them. Jordi,

850
00:45:05,640 --> 00:45:08,800
Speaker 1: pull up, pull up that one picture of the steel

851
00:45:09,120 --> 00:45:09,719
Speaker 1: mill there.

852
00:45:09,840 --> 00:45:12,439
Speaker 2: Yeah, here you go and boom oh man.

853
00:45:12,719 --> 00:45:14,560
Speaker 1: So you look at that and you look at those

854
00:45:14,680 --> 00:45:17,120
Speaker 1: dudes right there. Man, do you know how hot that

855
00:45:17,200 --> 00:45:20,440
Speaker 1: furnace was? Do you know how heavy those those steel

856
00:45:20,480 --> 00:45:23,439
Speaker 1: pokers were? Do you know do you realize that those

857
00:45:23,560 --> 00:45:26,919
Speaker 1: long shifts twelve hours in a steel mill and what

858
00:45:27,000 --> 00:45:30,320
Speaker 1: that does to your body, what it does to your focus.

859
00:45:30,719 --> 00:45:33,440
Speaker 1: How dangerous all that was. But you know what, those

860
00:45:33,480 --> 00:45:36,759
Speaker 1: men woke up. They didn't bitch, they didn't complain, they

861
00:45:36,840 --> 00:45:39,960
Speaker 1: didn't they weren't angry because why because they were making

862
00:45:40,120 --> 00:45:43,800
Speaker 1: a good living. They were able to support their families.

863
00:45:43,840 --> 00:45:46,160
Speaker 1: They were able to send their kids to college, the

864
00:45:46,239 --> 00:45:48,080
Speaker 1: first kids to ever go to college ever.

865
00:45:48,560 --> 00:45:51,040
Speaker 2: And those jobs were real jobs.

866
00:45:50,640 --> 00:45:53,880
Speaker 1: That made an impact that changed America for what it

867
00:45:54,000 --> 00:45:57,520
Speaker 1: is today. Well not totally what is, but what built America,

868
00:45:58,120 --> 00:45:59,960
Speaker 1: what it's become is a whole nother thing that will

869
00:46:00,040 --> 00:46:02,640
Speaker 1: get into it. Another code of session. All right, Well,

870
00:46:02,680 --> 00:46:04,480
Speaker 1: how about my other favorite? What, Jordy, what was the

871
00:46:04,480 --> 00:46:05,600
Speaker 1: other one we talked about?

872
00:46:05,600 --> 00:46:08,120
Speaker 2: That other great one is the classic one right here?

873
00:46:08,280 --> 00:46:12,160
Speaker 2: The god is.

874
00:46:12,120 --> 00:46:13,440
Speaker 6: That what your lunch break looks like?

875
00:46:15,960 --> 00:46:19,839
Speaker 2: Not since military.

876
00:46:20,400 --> 00:46:22,600
Speaker 1: For sure, but now, I mean you you look at

877
00:46:22,600 --> 00:46:26,320
Speaker 1: those guys and they're having lunch. What a couple maybe

878
00:46:26,640 --> 00:46:29,800
Speaker 1: five hundred feet up in the air, uh and probably

879
00:46:29,840 --> 00:46:33,160
Speaker 1: a stage photograph, but the representation of what it is.

880
00:46:33,200 --> 00:46:35,440
Speaker 1: And you got another one for me of guys actually

881
00:46:35,480 --> 00:46:36,439
Speaker 1: doing work up there.

882
00:46:36,640 --> 00:46:39,040
Speaker 6: Here's them just hanging out up there doing some work.

883
00:46:39,280 --> 00:46:42,840
Speaker 2: That's right. I don't I don't see many safety lines.

884
00:46:43,120 --> 00:46:46,280
Speaker 1: Right, I don't see a hard hat, I don't see anything.

885
00:46:46,320 --> 00:46:50,279
Speaker 1: What I see is just sheer, courage and determination right

886
00:46:50,320 --> 00:46:52,480
Speaker 1: to build something out of nothing.

887
00:46:53,280 --> 00:46:56,080
Speaker 2: And that's what we need. We need people.

888
00:46:55,880 --> 00:46:58,640
Speaker 1: Especially you young folks out there. We need young men

889
00:46:58,680 --> 00:47:01,439
Speaker 1: out there. We need you to stand up and say,

890
00:47:01,480 --> 00:47:05,840
Speaker 1: you know what you know. I need to get my

891
00:47:05,920 --> 00:47:08,200
Speaker 1: hands dirty, I need to strengthen my back. I need

892
00:47:08,239 --> 00:47:10,279
Speaker 1: to build something. And if you don't want to go

893
00:47:10,360 --> 00:47:13,720
Speaker 1: work for anybody out there, a big construction conglomerate managed

894
00:47:13,760 --> 00:47:17,799
Speaker 1: by some private equity firm, that's whatever, then start your

895
00:47:17,840 --> 00:47:21,040
Speaker 1: own construction company. I mean, I've got a guy who

896
00:47:21,040 --> 00:47:23,640
Speaker 1: lives cross street from me, my neighbor, who you know,

897
00:47:23,680 --> 00:47:26,879
Speaker 1: I love, dearly man. This young man is, you know,

898
00:47:27,520 --> 00:47:30,279
Speaker 1: just thirty years old, and he works seven days a week,

899
00:47:30,320 --> 00:47:33,000
Speaker 1: and he works for a local builder and he's out

900
00:47:33,000 --> 00:47:37,400
Speaker 1: there managing fourteen fifteen building projects at his age. And

901
00:47:37,440 --> 00:47:40,640
Speaker 1: a guy works his butt off, and so that gives

902
00:47:40,680 --> 00:47:44,040
Speaker 1: me hope. But that's available out there to young people,

903
00:47:44,120 --> 00:47:48,320
Speaker 1: and you just have to feel the inspiration for taking

904
00:47:48,480 --> 00:47:52,319
Speaker 1: hold of your future with your bare hands. And that's

905
00:47:52,360 --> 00:47:54,920
Speaker 1: a powerful thing to do. So what I if I

906
00:47:54,920 --> 00:47:57,919
Speaker 1: can just inspire you man, to go back and sit

907
00:47:58,000 --> 00:48:01,479
Speaker 1: with those stories of of of those men and women

908
00:48:01,520 --> 00:48:06,080
Speaker 1: who'll build America in particularly those hard men that were

909
00:48:06,080 --> 00:48:08,759
Speaker 1: on those skyscrapers, that wear those steel mills, and in

910
00:48:08,800 --> 00:48:11,600
Speaker 1: those coal mines and out on those oil platforms. And

911
00:48:11,640 --> 00:48:14,319
Speaker 1: they're still out there, but their numbers are dwindling. And

912
00:48:14,360 --> 00:48:18,920
Speaker 1: so man, if you have any aspiration of being hard

913
00:48:19,400 --> 00:48:23,160
Speaker 1: and really getting in and making the America great again,

914
00:48:23,520 --> 00:48:26,040
Speaker 1: we need you to roger up and step into the fight,

915
00:48:26,120 --> 00:48:28,319
Speaker 1: if you will, to step on on that ledge with

916
00:48:28,440 --> 00:48:31,479
Speaker 1: your toes dangling, with your safety strap and your hard

917
00:48:31,520 --> 00:48:33,960
Speaker 1: hat on, and to help us build America.

918
00:48:34,239 --> 00:48:36,600
Speaker 2: All right, that's my thing. Now.

919
00:48:36,800 --> 00:48:41,520
Speaker 1: If you've enjoyed this show, you enjoyed what we're bringing

920
00:48:41,560 --> 00:48:45,000
Speaker 1: to you, please don't forget to like the show right,

921
00:48:45,120 --> 00:48:49,239
Speaker 1: make a comment, right, subscribe to the podcast, share it

922
00:48:49,280 --> 00:48:51,479
Speaker 1: with five of your friends or two of your friends.

923
00:48:51,520 --> 00:48:53,120
Speaker 2: I don't want to be like one of those lame

924
00:48:53,280 --> 00:48:54,440
Speaker 2: like threads. Man.

925
00:48:54,680 --> 00:48:57,480
Speaker 1: If you share this thing with ten of your friends,

926
00:48:57,520 --> 00:48:59,520
Speaker 1: you're gonna make a million dollars in thirty days. I

927
00:48:59,560 --> 00:49:02,120
Speaker 1: can't pro promise you that, but what I can promise

928
00:49:02,160 --> 00:49:05,160
Speaker 1: you that if they're red blooded Americans. They're going to

929
00:49:05,200 --> 00:49:07,160
Speaker 1: listen to this, they're gonna get fired up, and they're

930
00:49:07,160 --> 00:49:09,400
Speaker 1: gonna feel good about what our future looks like.

931
00:49:09,440 --> 00:49:13,200
Speaker 2: And that's what we want to do here on this podcast.

932
00:49:13,280 --> 00:49:18,600
Speaker 1: So like subscribe, we're available on the entire place, all

933
00:49:18,680 --> 00:49:21,760
Speaker 1: social media, all the different places you can consume content.

934
00:49:23,760 --> 00:49:26,879
Speaker 1: You can follow us at David Rutherford Show and that's

935
00:49:26,920 --> 00:49:34,319
Speaker 1: on YouTube, Instagram, Patreon, rumble tic Tech, all the podcast apps, Apple, Spotify,

936
00:49:35,000 --> 00:49:36,759
Speaker 1: all of them out there, and then if you want

937
00:49:36,760 --> 00:49:43,960
Speaker 1: to follow the show on x it's at d Rutherford Show.

938
00:49:44,239 --> 00:49:47,840
Speaker 1: At d Rutherford Show. It seems some some poor sap

939
00:49:47,880 --> 00:49:49,719
Speaker 1: out there stole the rest of it from me, but

940
00:49:49,800 --> 00:49:52,400
Speaker 1: that's all right. We'll get it one of these days hopefully.

941
00:49:53,280 --> 00:49:56,320
Speaker 1: And if you want to follow me on all social media, platfs.

942
00:49:56,360 --> 00:50:00,399
Speaker 1: My personal stuff is at Team frog Logic. It's David

943
00:50:00,440 --> 00:50:04,879
Speaker 1: Rutherford at Team frog Logic all right. Also too, this

944
00:50:04,960 --> 00:50:05,680
Speaker 1: is a big one.

945
00:50:05,920 --> 00:50:06,280
Speaker 2: Listen.

946
00:50:06,680 --> 00:50:10,560
Speaker 1: We're dependent and independent media. We are dependent on you

947
00:50:10,800 --> 00:50:16,759
Speaker 1: for much of our for all of our success, but sometimes,

948
00:50:16,840 --> 00:50:20,240
Speaker 1: and more importantly, we're also dependent upon you to reach

949
00:50:20,320 --> 00:50:23,759
Speaker 1: out to us and share with us something that's got

950
00:50:23,800 --> 00:50:24,520
Speaker 1: you fired up.

951
00:50:24,719 --> 00:50:26,200
Speaker 2: If you've got a news story.

952
00:50:26,360 --> 00:50:29,359
Speaker 1: You know somebody that's got a story they can't get

953
00:50:29,400 --> 00:50:33,920
Speaker 1: it out on regular news channels or on other larger platforms.

954
00:50:34,239 --> 00:50:36,600
Speaker 1: We're not afraid to take a look at it. Please,

955
00:50:36,880 --> 00:50:41,400
Speaker 1: if you want to send any new story, idea or

956
00:50:41,440 --> 00:50:45,040
Speaker 1: someone special in interview, a hero, you know, someone who's

957
00:50:45,080 --> 00:50:48,640
Speaker 1: vintage arge, your grandpa, your uncle, your aunt, something like that,

958
00:50:49,160 --> 00:50:52,880
Speaker 1: or just some you know corruption that you've discovered in

959
00:50:52,920 --> 00:50:56,280
Speaker 1: your school system or at at your job, or wherever

960
00:50:56,320 --> 00:50:59,160
Speaker 1: it might be. Please, I want you to email Jordi

961
00:50:59,480 --> 00:51:03,800
Speaker 1: at David Rutherford dot com. That's Jordi at David Rutherford

962
00:51:04,200 --> 00:51:07,760
Speaker 1: dot com. And if your story is epic and it's great,

963
00:51:08,080 --> 00:51:09,840
Speaker 1: we're gonna bring you on the show. We're gonna interview,

964
00:51:09,840 --> 00:51:12,280
Speaker 1: You're gonna let you tell your story to our audience

965
00:51:12,640 --> 00:51:14,640
Speaker 1: and to hope that we can help you and help

966
00:51:14,680 --> 00:51:20,200
Speaker 1: your endeavors. Also, if there's anything that you'd like me

967
00:51:20,320 --> 00:51:23,399
Speaker 1: to take a look at out there, do a deep

968
00:51:23,440 --> 00:51:26,640
Speaker 1: dive in. If you've got recommendations for things you'd like

969
00:51:26,680 --> 00:51:29,280
Speaker 1: to hear, please do the same. Go ahead and email Jordie.

970
00:51:29,600 --> 00:51:34,080
Speaker 1: That's j O. R. D Y at David Rutherford dot com.

971
00:51:34,960 --> 00:51:37,640
Speaker 1: All right, my man, what do you think Jordie is

972
00:51:37,680 --> 00:51:38,440
Speaker 1: at it for today?

973
00:51:38,840 --> 00:51:43,479
Speaker 6: Good show, good show, I'm fired awesome, learned a lot,

974
00:51:43,800 --> 00:51:44,680
Speaker 6: Do it again next time.

975
00:51:45,880 --> 00:51:48,640
Speaker 2: You got it all right once again.

976
00:51:49,280 --> 00:51:52,759
Speaker 1: If you want to clear up the tsunami of information

977
00:51:52,920 --> 00:51:55,520
Speaker 1: out there, then you join me, because I'm gonna be

978
00:51:55,600 --> 00:51:56,920
Speaker 1: your flashbang of truth.

979
00:51:57,400 --> 00:52:02,439
Speaker 2: This is the David Rutherford Show. Oo yah man