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Speaker 1: Hi, I'm Molly John Fast and this is Fast Politics,

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Speaker 1: where we discussed the top political headlines with some of

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Speaker 1: today's best minds. And according to a new Yuga of Paul,

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Speaker 1: more than seven and ten Americans think the United States

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Speaker 1: is out of control under President Trump. I am one

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Speaker 1: of them. We have such a great show for you

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Speaker 1: today to the Contrary Zone, Charlie Sike stops by to

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Speaker 1: talk about Trump bringing fear to America's streets. Then we'll

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Speaker 1: talk to Market Scoreboard Report's own Ron and Sana about

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Speaker 1: Trump's erratic NATO negotiations. But first the news.

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Speaker 2: Molly so jud Lega met Popular Information has a horrifying

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Speaker 2: report that ICE has stopped paying for detainees medical treatment.

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Speaker 2: And we're seeing the statistics that three times more people

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Speaker 2: died in NIS custody last year than any previous year before.

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Speaker 3: I think we have an explanation.

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Speaker 1: Yeah, Trump has created this militia. This militia is now

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Speaker 1: jailing people during the Trump administration. The population of migrants

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Speaker 1: and by the way, and other people, there are some

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Speaker 1: American citizens held at US customs ICE facilities has exploded.

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Speaker 1: It was a year ago forty thousand. It is now

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Speaker 1: over seventy three thousand today under the law, which again

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Speaker 1: trumb World doesn't care about, but under the law, ICE

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Speaker 1: is required to provide necessary medical care for this population.

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Speaker 1: That's not happening well. Ice employs some of its own

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Speaker 1: medical staff, it often uses third party providers, and ICE's

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Speaker 1: Buffalo Federal Detention facility, for example, houses five hundred detainees

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Speaker 1: and has no doctor or dentist on staff. ICE has

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Speaker 1: not paid third party providers for medical care for detainees

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Speaker 1: since October third. Last week, ICE posted a notice on

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Speaker 1: an obscure government website that it will not begin processing

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Speaker 1: such claims until April thirtieth. And basically, the Trump administration

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Speaker 1: is running Ice the way it's running the rest of

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Speaker 1: the federal government, which is not to allow and this

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Speaker 1: is where we are. You know, this administration does not

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Speaker 1: want to have the government work. It's what we saw

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Speaker 1: with Project twenty twenty five, right. We saw that the

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Speaker 1: Trump administration did not want the government to succeed, so

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Speaker 1: it did not let the government succeed. And so we

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Speaker 1: found ourselves in situations like this where we had a

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Speaker 1: government that was unable to succeed, that was set up

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Speaker 1: to fail, and that is where we are.

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Speaker 4: Yeah, I hate to go to the comparison, but you

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Speaker 4: know the difference between a prison and a concentration campus

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Speaker 4: things like this.

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Speaker 1: Yeah, and also remember these are people who are not

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Speaker 1: necessarily being charged. They may not have done anything wrong.

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Speaker 1: You would be better off going to jail because at

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Speaker 1: least there are rules about how long you can be

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Speaker 1: held in jail. The police follow rules. I mean sometimes

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Speaker 1: they don't, but they're supposed to follow rules. Ice occupies

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Speaker 1: a completely different sort of neither legal nor illegal region

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Speaker 1: where they can do or at least according to them,

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Speaker 1: they feel they can do anything. I mean, if what

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Speaker 1: happened to Renee and Nicole Good had happened to her

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Speaker 1: with a cop, that cop would have faced a series

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Speaker 1: of legal challenges. There would have been protocol. But instead,

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Speaker 1: because this is ICE, which is its own lalla land.

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Speaker 1: You know, we don't even know what has happened with

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Speaker 1: Jonathan Ross. All I know is that Christy Nome chastised

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Speaker 1: Margaret Brennan for saying his name on television.

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Speaker 4: Now, to continue with ICE's abuses, we had the Minnesota

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Speaker 4: Chief of Police saying that ICE is targeting his cops

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Speaker 4: and trying to look for them while they're alone to

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Speaker 4: harass them. One of the things Will Stancil is reported

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Speaker 4: from being on the ground there is that Ice routinely

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Speaker 4: looks for people who are elode in their cars and

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Speaker 4: then harasses them. And the best thing you can do

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Speaker 4: if you see that happening is ask their name, because

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Speaker 4: they might get disappeared. And this is another indication of

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Speaker 4: where we're at.

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Speaker 1: Yeah, this is again exactly what I was talking about.

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Speaker 1: You have a body that does not exist, that is

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Speaker 1: not real, that has no purpose. Right, it has a purpose,

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Speaker 1: but it has no legal framework. So of course they're

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Speaker 1: harassing comps. It is interesting to see, like, these are

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Speaker 1: the people who told us to back the blue, so

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Speaker 1: it is interesting to watch them, you know, do they

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Speaker 1: back the blue or do they back Ice? Now? You know?

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Speaker 1: I mean it's funny to watch them freak out about

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Speaker 1: people of color carrying machine guns. It's like, well, are

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Speaker 1: you for the Second Amendment? Are you not for the

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Speaker 1: Second Amendment? I mean, they've really backed themselves into a

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Speaker 1: corner here. I don't know how you can be this

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Speaker 1: hypocritical for this long, but clearly you can be.

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Speaker 2: Yeah.

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Speaker 4: So the implications of all these abuses are coming home

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Speaker 4: to roost. We now see Speaker Jeffries opposes the bill

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Speaker 4: of fund DHS and ICE.

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Speaker 1: We had talked about it. We were wondering how long

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Speaker 1: it would take before this started happening. The BBB had

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Speaker 1: just a gazillion dollars for ICE, billions and billion, tens

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Speaker 1: of billions of dollars. And right now Congress is doing

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Speaker 1: appropriations and they are appropriating money for Homeland Security aka ICE,

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Speaker 1: and they want to pass a bill. And I think

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Speaker 1: it's important to see like how we got here for

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Speaker 1: a second, because Democrats were laser focused on not talking

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Speaker 1: about Ice. You know, they had been really careful to

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Speaker 1: not say anything about Ice, and they were just like affordability, affordability, affordability,

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Speaker 1: pay no attention to this secret police force that is

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Speaker 1: murdering people. But now actually they are starting to talk

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Speaker 1: about it. And Minority Leader Hakeem Jeffries told his caucus

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Speaker 1: during a closed door meeting on Wednesday that he opposes

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Speaker 1: a bill to fund the Department of Homeland Security. That's

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Speaker 1: a big deal and also quite good. They had been

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Speaker 1: like working on this bill and five Democrats spoke up

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Speaker 1: against the bill on Wednesday. I think it's important the

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Speaker 1: progressive group move On sent forty thousand letters in just

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Speaker 1: three days telling Democrats that they needed to oppose funding

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Speaker 1: for ice and border patrol. And you know, there had

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Speaker 1: been some like really lame forays into you know, you

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Speaker 1: saw one member of Congress was saying they should have

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Speaker 1: to r codes. But the reality is like, when you

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Speaker 1: have a militia that is operating outside the bounds of law,

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Speaker 1: a QR code is not going to do much. You know.

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Speaker 4: Yeah, I love getting someone's queue of r code while

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Speaker 4: they steal and break my phone.

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Speaker 1: Well or they try to show you in the face, right, Yeah.

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Speaker 4: I was kind of trying to keep it a little

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Speaker 4: PG for the audience, but thank you for being the

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Speaker 4: more edge won for once.

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Speaker 1: I mean, I just feel like you can't meet a

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Speaker 1: militia with a QR code reader.

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Speaker 4: That is the new bringing a cake to a gunfight. So,

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Speaker 4: speaking of the change of tide in the Democratic Party,

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Speaker 4: last week we were asking why are there so few

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Speaker 4: people sponsoring the impeachment of Christy, But now we're seeing

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Speaker 4: support that this is exploding in almost half of the

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Speaker 4: Democratic profice now sponsors it.

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Speaker 1: Yeah, and by the way, they should. I mean, this

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Speaker 1: woman is first of all, she's all hat and no brainstem.

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Speaker 5: Like.

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Speaker 1: Everything this woman does is just beyond moronic, also dangerous

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Speaker 1: and scary. But it's time. It's time to impeach her.

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Speaker 1: She's running an out of control agency which is killing people. Look,

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Speaker 1: this is what Donald Trump wanted, but it's not legal

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Speaker 1: and it's not okay, and fy i, none of this

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Speaker 1: is popular, you know. So if these politicians are interested

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Speaker 1: in ever being elected, and I mean Republicans too, they

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Speaker 1: need to hold Ice accountable. And by the way, the

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Speaker 1: only way any of these people are ever going to testify,

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Speaker 1: and the only way any of this is ever going

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Speaker 1: that we're ever going to see any kind of accountability

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Speaker 1: is if they impeach her. And by the way, that

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Speaker 1: would mean likely a trial in the Senate, and a

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Speaker 1: trial in the Senate would be super interesting and we

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Speaker 1: would learn a lot about what this crazy fake police

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Speaker 1: force is doing so in peater, My god, the fact

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Speaker 1: that it's taking this long. Let's just get it going

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Speaker 1: one hundred percent.

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Speaker 4: We need to bring more white to this so more

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Speaker 4: people can see these abuses and.

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Speaker 1: So they can stop. Charlie Sykes is the author of

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Speaker 1: the Newsletter to the Contrary and the book how the

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Speaker 1: right lost its mind.

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Speaker 5: Charlie Sykes, how are you speaking to you from the

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Speaker 5: frozen tundra Wisconsin.

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Speaker 1: I'm just glad that I was not in the audience

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Speaker 1: during that Davos speech.

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Speaker 5: And yet we all are, aren't we? What would you

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Speaker 5: have done? Just throw a shoe or something.

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Speaker 1: I mean, I don't want to go to jail, so

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Speaker 1: I'm not gonna throw it, but I certainly would have

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Speaker 1: made lots of you know, European eye rolls. Or what

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Speaker 1: about Gavin Newsom in the audience.

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Speaker 3: He showed up.

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Speaker 5: But the big, the big news is the Davos taco

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Speaker 5: on Greenland? Did you see that? Donald Trump is basically

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Speaker 5: I have a deal. I have a deal. I'm I'm

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Speaker 5: not We're not gonna have any tariffs because I'm going

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Speaker 5: to you know, I've cut this or what new framework

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Speaker 5: to do what I've been able to do all along.

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Speaker 5: I'm in a massive climb down with the usual Trumpean

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Speaker 5: bullshit that he's not actually you know, chickening out on

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Speaker 5: all of this. But interesting the two things apparently to

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Speaker 5: tear Donald Trump. Number one, when Europe actually put some troops,

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Speaker 5: you know, some some troops on the ground as trip

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Speaker 5: wires at number two when the Dow Jones dropped eight

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Speaker 5: hundred and seventy one points. They were speaking Donald Trump's language, apparently,

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Speaker 5: And so the you know, world bestriding leader goes to Davos,

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Speaker 5: bullshits his way through that pathetic speech and then caves in.

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Speaker 1: What do you make of that? An solve solving problems

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Speaker 1: that never there would not be problems in a normal

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Speaker 1: world if Donald Trump hadn't caused them, that is Donald

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Speaker 1: Trump's meant y.

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Speaker 5: Yeah, run into the house, set a fire, go back

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Speaker 5: outside there, run in and say that no one has

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Speaker 5: ever been a better firefighter than me. Right, m hm.

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Speaker 1: It's still jarring, Like I think about the Munich Security

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Speaker 1: Conference when JD. Vance told all of Europe that they

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Speaker 1: were cocks and you know, losers because they didn't allow

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Speaker 1: the kind of Nazi rhetoric that we that we that

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Speaker 1: our government freely engages in.

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Speaker 3: Yeah.

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Speaker 5: No, I mean the way the world is looking at

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Speaker 5: the United States. I mean, this is what's happened over

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Speaker 5: the last couple of weeks here, you know, for you know,

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Speaker 5: you and I have been talking about this for for

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Speaker 5: how long, and you know a lot of it is

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Speaker 5: same old the same but is gone.

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Speaker 1: Yeah, what it is ten years.

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Speaker 5: Years, But it did feel like it shifted over the

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Speaker 5: last week the way the world, not only the way

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Speaker 5: the world saw the United States, but their willingness to

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Speaker 5: stand up and express their thorough disgust that this behavior.

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Speaker 5: And then, of course, I think the way Americans feel

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Speaker 5: about themselves. I mean the rhetoric that we got from

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Speaker 5: you know, the Canadian Prime minister. I mean, this may

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Speaker 5: have been the moment when the West reached its breaking

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Speaker 5: point and said, We're done with your bullshit, we are

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Speaker 5: done with appeasement, we are done with bringing you bobbles

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Speaker 5: and trying to you know, you know, and trying to

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Speaker 5: you know, polish this turd and recognize that, you know,

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Speaker 5: you are no longer reliable ally. But back back to

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Speaker 5: that speech. The the string of falsehoods, the just complete

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Speaker 5: alternative reality, the fabulousm the insults. You know, nothing he

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Speaker 5: said in that speech is going to make the rest

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Speaker 5: of the world think better of the United States or

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Speaker 5: begin to think that maybe maybe Donald Trump has not

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Speaker 5: lost his bleep in mind.

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Speaker 1: You know, the Mark Karney speech to day before was

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Speaker 1: so fantastic, right, and it was like a serious speech

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Speaker 1: about what who are the what is the country you

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Speaker 1: want to be? What are the values you want to reflect?

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Speaker 1: And then Donald Trump got up there and was like,

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Speaker 1: you know, I know that was about me, libtard.

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Speaker 5: Yeah, yeah, No. I In general, political speeches these days

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Speaker 5: are disposable. They're they're not worth setting aside or going

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Speaker 5: back to. I actually think that that the Mark Karney

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Speaker 5: speech is going to be one of those that historians

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Speaker 5: is is uh that historians will look at as kind

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Speaker 5: of a pivot as that moment, when in fact, we recognize,

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Speaker 5: or at least Canada and much of the West recognize

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Speaker 5: that though that the world order that has existed since

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Speaker 5: World War Two no longer exists because it has been broken.

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Speaker 5: It has been smashed by the vanity of Donald Trump.

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Speaker 5: And what was this all about, Molly when you think

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Speaker 5: about it, And in the end, with now that he's

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Speaker 5: talking on, what did we get out of this other

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Speaker 5: than the pure, naked, insecure, narcissistic id of Donald Trump, unleashed,

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Speaker 5: untethered from reality And Moraley, I mean.

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Speaker 1: He weakened NATO a little more, which I think is

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Speaker 1: ultimately if you're gonna think of like if there's a

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Speaker 1: strategical and again It's important usually not to ascribe smarts

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Speaker 1: to Donald Trump, because usually he's just operating out of

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Speaker 1: base guttural instinct. But if you were to have something

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Speaker 1: that came out of it, it would be weakening NATO,

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Speaker 1: which he did a little bit, right.

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Speaker 5: Oh, I don't think it was a little bit. I

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Speaker 5: think that, you know, he stabbed what's left of NATO

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Speaker 5: in the back. I mean, what is NATO other than

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Speaker 5: than the trust between nations who say they will come

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Speaker 5: to each other's defense. Anyone actually believe that the United

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Speaker 5: States would honor its commitments anymore? And I think that's

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Speaker 5: why you're starting to see the realization that the Western

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Speaker 5: Alliance may have to move on without the United States.

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Speaker 5: I mean think about that as speaking, you know, unthinkable

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Speaker 5: things that we have to think about right now. And

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Speaker 5: so I mean, does it does it anyone think that

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Speaker 5: the United States under Donald Trump would come to the

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Speaker 5: defense of any of the Baltic nations if they were

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Speaker 5: attacked by Vladimir Putin or Russia. And the moment that happens, no,

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Speaker 5: and the fact that we actually had NATO troops deployed

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Speaker 5: in Greenland to deter a potential American invasion and get

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Speaker 5: your right around that. So I think that NATO is

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Speaker 5: basically a dead man walking, that Donald Trump has hollowed

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Speaker 5: it out, and I don't.

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Speaker 3: Know that it's going to be viable that much longer.

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Speaker 5: I just don't know.

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Speaker 1: So let's talk about that, because that's so scared. I mean,

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Speaker 1: in some ways, that's like pretty much the whole ballgame

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Speaker 1: is NATO. There are a couple of things I'm struck by.

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Speaker 1: One is that Canada made a deal with China. Mark

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Speaker 1: Carney is traveling around the world. He's done more travel

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Speaker 1: than any of these European leaders trying to secure our

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Speaker 1: new deals because his number one traded partner, the United

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Speaker 1: States has completely lost its mind. But we are sort

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Speaker 1: of being left in the dust.

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Speaker 5: Yeah, we are, I mean, And that's the other part

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Speaker 5: of this story is that we've already seen the tangible

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Speaker 5: results of this.

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Speaker 3: I mean, who would have guessed.

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Speaker 5: That Canada would pivot from the United States to China,

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Speaker 5: That Canada would think that China was a more reliable

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Speaker 5: trading partner of the United States. These are things that

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Speaker 5: if you and I would have said them, you know,

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Speaker 5: a year ago, people would have accused us of Trump derangement.

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Speaker 3: Syndrome.

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Speaker 5: And yet here we are, we live in that world.

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Speaker 5: And does anyone think that other European nations, other nations

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Speaker 5: around the world are not making the same kind of calculations.

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Speaker 5: Who can you rely on? Who can you count on?

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Speaker 5: So Trump has created this vast vacuum as we withdraw

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Speaker 5: the you know, the withdrawing roar of all of our

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Speaker 5: soft power. And who's stepping into that but China. And

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Speaker 5: then of course we squander any moral authority we had

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Speaker 5: in criticizing Russia for going into Ukraine or China for

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Speaker 5: going into Taiwan when we lust after seizing Greenland because

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Speaker 5: we can.

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Speaker 1: Yeah, And it's funny because it's like it took about

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Speaker 1: a year for Donald Trump to squander any kind of

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Speaker 1: you know, he was pulling better than he ever had.

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Speaker 1: He had a coronation filled with billionaires who were ready

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Speaker 1: to make deals.

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Speaker 3: Suck up da now thing.

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Speaker 1: That's interesting when you see Trump on the world stage,

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Speaker 1: and I wonder if you could talk about this. It's like,

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Speaker 1: because we cover this so much, we just assume that

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Speaker 1: everyone is craven and all Republicans will just go along

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Speaker 1: with anything, and all our billionaires are just But you

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Speaker 1: go to the rest of the country. You look outside

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Speaker 1: of the country and you realize the rest of the

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Speaker 1: world is horrified by.

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Speaker 5: Us, horrified and disgusted by us. So, yeah, he has

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Speaker 5: squandered his popularity, and I think this will have some consequence.

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Speaker 5: There are people who are you know, simply you know, transactional,

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Speaker 5: and the weaker he becomes, the more willing they might

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Speaker 5: be to stand up against him. Who knows, I mean,

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Speaker 5: Willem Bolden is a Supreme Court to actually begin drawing

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Speaker 5: red lines. There were some indications.

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Speaker 1: Of that, certainly.

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Speaker 3: The Fed right, I.

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Speaker 5: Mean, so we will see a little bit of that that,

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Speaker 5: you know, institutions in the media, in university's law firms.

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Speaker 5: Other countries that have been reluctant to stand up against

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Speaker 5: Donald Trump in the past might feel differently about standing

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Speaker 5: out to somebody who is not just clearly demented in

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Speaker 5: you know, a moral but also at a thirty five

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Speaker 5: percent approval rate. Now having said that, Molly, you know,

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Speaker 5: as you watch Donald Trumps sundown, he becomes more dangerous

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Speaker 5: even if he is unpopular because of who he is

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Speaker 5: and and his bottomless neediness and whatever is going on

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Speaker 5: with him becoming more and more disinhibited, becoming more and

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Speaker 5: more untethered from reality, law, morality, anything. We have a

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Speaker 5: long three years ahead of us, Yeah, and.

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Speaker 1: I mean I do think we really have a long

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Speaker 1: one more year because if Democrats, if we have a

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Speaker 1: free and fair and not messed up mid terms, Democrats

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Speaker 1: will likely certainly win the House and very possibly win

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Speaker 1: the Senate if the numbers are what they are right now.

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Speaker 5: But when you a midterm election does not shift the

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Speaker 5: presidential power, And yes, I agree with you, and I

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Speaker 5: think that, and I don't want I don't want to

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Speaker 5: rain on this parade prematurely. Yes, there will be more

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Speaker 5: checks on him. On the other hand, there's always the

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Speaker 5: possibility of misreading those results or overreading those results. And

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Speaker 5: what has to happen is that you mean the twenty

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Speaker 5: twenty eight election. Now you mentioned the Munich Security Conference

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Speaker 5: and JD Vance's feculent performance there. That's a reminder that

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Speaker 5: the MAGA is here to stay, and that the successors

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Speaker 5: to Donald Trump may I won't I won't say they

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Speaker 5: may be worse, because it's hard to imagine anyone being worse.

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Speaker 5: But they are true believers, they are ideologues, and they

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Speaker 5: are committed to this particular view of the world. So

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Speaker 5: you know, part of it is just Trump's the unripe

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Speaker 5: bananas in Trump's prefrontal cortex doing the things that he does,

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Speaker 5: and we all know that. On the other hand, there

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Speaker 5: is a infrastructure in place that is deeply committed to

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Speaker 5: his fascist project. And I you do use the word

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Speaker 5: the F word, and I use it very advisedly domestically

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Speaker 5: and internationally. If jd Vance is what's in our future,

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Speaker 5: it is it is dark. Indeed, So again, do not

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Speaker 5: you know you have to run through the tape, and

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Speaker 5: running through the tape means not assuming that you only

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Speaker 5: have one year left. It's it is, It is three,

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Speaker 5: and unless we all get our act together, it may

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Speaker 5: be more. I'm not up for another decade.

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Speaker 3: I don't know about you.

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Speaker 1: I am not up for another decade. I do not

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Speaker 1: want to be in this political environment in my fifties.

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Speaker 1: I do not have the I do not have the

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Speaker 1: stuff for it. Let me tell you. I am just.

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Speaker 1: But I also I do think that's a really good point.

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Speaker 1: I often think about how much better off we all

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Speaker 1: were during Trump one point, Oh like that the media

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Speaker 1: environment was fullsome that we had all of these newspapers

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Speaker 1: and magazines and networks, and that we had the American

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Speaker 1: people committed to the project. And this time it's like

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Speaker 1: everybody sort of checked out. And you know there's a

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Speaker 1: sense I mean it just the vibes. Yeah, well, talk

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Speaker 1: to me about that.

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Speaker 5: Well, this is an interesting point. And so in Trump

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Speaker 5: one point, Oh, I still think that America had the

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Speaker 5: muscle memory of the.

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Speaker 3: Rule of law and of democratic values.

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Speaker 5: Right, we still kind of assumed that all of that

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Speaker 5: was was in place and would remain in place this

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Speaker 5: time around, at least in the beginning. What I think

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Speaker 5: that you what was the most shocking was to see

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Speaker 5: how fragile they all were, how paper thin they were,

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Speaker 5: how many people were so exhausted, and the speed and

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Speaker 5: the depth of the destruction. But again, you know, at

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Speaker 5: some point, maybe Americans are relearning, you know, I mean,

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Speaker 5: you and I look at the same sorts of things.

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Speaker 5: Is the most recent polls are accurate. His probably his

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Speaker 5: approval rating is down to maybe thirty five percent, thirty

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Speaker 5: seven percent.

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Speaker 1: He's just the lowest it's ever been, like, right even.

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Speaker 5: And you look at the specifics, you know, the things

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Speaker 5: that he is doing, and he's making stupid political decisions.

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Speaker 5: You know, going after Greenland was a political loser. Starting

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Speaker 5: another trade war obviously destroys any credibility he has on

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Speaker 5: the affordability issue. So there is a blowback and a

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Speaker 5: backlash to what's happening. I do think that the reaction

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Speaker 5: to the way Ice is behaving, those those images are turning.

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Speaker 5: People are breaking through in a way that a lot

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Speaker 5: of the other issues that we talk about on podcasts

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Speaker 5: stay within our bubble and they don't break through. These

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Speaker 5: stories are breaking through, and the American people are really

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Speaker 5: now understand have to ask questions.

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Speaker 3: Like who are we?

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Speaker 5: What do we want to be? What are our values?

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Speaker 3: We?

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Speaker 5: Why do we care about things like due process? Why

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Speaker 5: do we why are we suspicious of a police state?

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Speaker 5: All of those things? So there might be a rebirth

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Speaker 5: of some of those some of those principles, I hope.

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Speaker 1: Yeah, that's a really good point, like why should we

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Speaker 1: care about due process? As we watch people get you know,

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Speaker 1: rounded up and sent to concentration camps. It's funny because

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Speaker 1: it's like, none of this is funny, But a lot

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Speaker 1: of the stuff that's happening right now is stuff that

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Speaker 1: we worried might happen. And Trump one point oh, and

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Speaker 1: when you would talk to voters and worry, you would

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Speaker 1: say yeah, you would say they're gonna do this, and

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Speaker 1: they'd say, no, no, he didn't do it last time.

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Speaker 5: Well that's right.

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Speaker 3: You know.

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Speaker 5: You think of all the warnings that were made, and

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Speaker 5: I look, I was deeply frustrated by the number of

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Speaker 5: voices that were coming from inside the house. I mean,

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Speaker 5: the people who had worked with Donald Trump in his cabinet,

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Speaker 5: his own vice president, his own chief of staff, who

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Speaker 5: warned how broken and bent this man was. His own

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Speaker 5: chief of staff, you know, General Kelly said that the

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Speaker 5: man was a fascist. And yet there were voters and

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Speaker 5: there were smart people out there, and the media said, oh,

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Speaker 5: you know, don't don't get too excited about it because

438
00:23:35,320 --> 00:23:38,720
Speaker 5: he hasn't actually done these things. Now, you need to

439
00:23:38,720 --> 00:23:41,560
Speaker 5: take him seriously but not literally.

440
00:23:41,600 --> 00:23:42,920
Speaker 3: In all of that stuff.

441
00:23:42,640 --> 00:23:47,080
Speaker 5: And Trump two point zero feels like it's like a demonstration,

442
00:23:47,320 --> 00:23:49,399
Speaker 5: like everything that was going on in the minds of

443
00:23:49,400 --> 00:23:53,920
Speaker 5: the never Trump movement here it is right confirmed. Yeah,

444
00:23:53,920 --> 00:23:56,760
Speaker 5: in a horrible, terrifying way.

445
00:23:57,240 --> 00:24:00,520
Speaker 1: No, exactly, I mean, that is clearly what's happening here

446
00:24:00,640 --> 00:24:05,200
Speaker 1: is that everything we worried, what was going to happen

447
00:24:05,280 --> 00:24:08,639
Speaker 1: has happened and more and one worse and more. Yeah,

448
00:24:09,240 --> 00:24:11,040
Speaker 1: I want to go back to this idea that we

449
00:24:11,040 --> 00:24:15,720
Speaker 1: were just talking about about vance. There's clearly some amount

450
00:24:15,880 --> 00:24:19,640
Speaker 1: in this White House of things being run without Trump, right,

451
00:24:20,119 --> 00:24:23,520
Speaker 1: like something clearly, So what do you think what do

452
00:24:23,520 --> 00:24:26,640
Speaker 1: you think is really because like Stephen Miller has is

453
00:24:26,680 --> 00:24:31,040
Speaker 1: the is the Minnesota stuff, right? I mean Venezuela. We

454
00:24:31,119 --> 00:24:34,240
Speaker 1: never heard Trump mentioned Venezuela once, So that's got to

455
00:24:34,320 --> 00:24:37,520
Speaker 1: be the little Marco stuff. Like what do you think

456
00:24:37,920 --> 00:24:40,280
Speaker 1: what parts of this White House are being run by who?

457
00:24:41,480 --> 00:24:43,560
Speaker 5: Well, I don't I don't know. I don't have that

458
00:24:43,640 --> 00:24:45,760
Speaker 5: kind of I don't have that kind of visit if

459
00:24:45,800 --> 00:24:47,840
Speaker 5: you had to get as well. But it's very very

460
00:24:47,880 --> 00:24:51,000
Speaker 5: clear that you do have people with a concerted plan.

461
00:24:51,080 --> 00:24:53,800
Speaker 5: You do have the Russell vote in Russell votes, who

462
00:24:54,200 --> 00:24:57,160
Speaker 5: are are following the Project twenty twenty five plan as

463
00:24:57,400 --> 00:25:00,800
Speaker 5: people were warned about now and implement his assault on

464
00:25:00,840 --> 00:25:03,680
Speaker 5: a lot of the federal agencies. It's very clear that

465
00:25:04,560 --> 00:25:07,960
Speaker 5: someone like Stephen Miller has the president's ear on issues

466
00:25:08,000 --> 00:25:11,399
Speaker 5: like immigration enforcement, on this idea of you know, the

467
00:25:11,520 --> 00:25:15,560
Speaker 5: mailed fists out there, the iron laws, of history, you know,

468
00:25:15,920 --> 00:25:20,680
Speaker 5: And I joke, I joke, but not really joking about

469
00:25:21,040 --> 00:25:23,520
Speaker 5: this feels like it's a translation from the original German

470
00:25:23,840 --> 00:25:27,040
Speaker 5: where he actually goes on television says, you know, we

471
00:25:27,040 --> 00:25:30,840
Speaker 5: we have the right to greenland because the powerful always

472
00:25:30,880 --> 00:25:33,120
Speaker 5: have the right to swallow up the week. I mean,

473
00:25:33,520 --> 00:25:36,399
Speaker 5: so he's been listening, He's been whispering to Donald Trump.

474
00:25:36,520 --> 00:25:38,200
Speaker 5: He's had a tremendous amount of influence.

475
00:25:38,760 --> 00:25:39,000
Speaker 3: Jd.

476
00:25:39,160 --> 00:25:43,240
Speaker 5: Vance obviously is pushing things like that new national security structure.

477
00:25:43,280 --> 00:25:46,000
Speaker 5: He and Marco Rubio. The fact is that they've put

478
00:25:46,000 --> 00:25:49,520
Speaker 5: this in writing. It's for people who say, oh, this

479
00:25:49,640 --> 00:25:51,840
Speaker 5: is just a social media post, or this is just

480
00:25:51,960 --> 00:25:54,840
Speaker 5: off the cuff. Trump two point zero has put in

481
00:25:54,960 --> 00:25:59,439
Speaker 5: writing its attitudes about Europe, about freedom, about race, about

482
00:25:59,480 --> 00:26:02,399
Speaker 5: civil rights. It's in a way that I guess we

483
00:26:02,440 --> 00:26:05,159
Speaker 5: ought to feel fortunate because it's right there. It is

484
00:26:05,240 --> 00:26:06,320
Speaker 5: no longer deniable.

485
00:26:06,720 --> 00:26:11,400
Speaker 1: Mm hmm. That's right, and I think very strange and important.

486
00:26:12,280 --> 00:26:14,840
Speaker 1: What are you watching now, Like there's all this stuff

487
00:26:14,840 --> 00:26:19,159
Speaker 1: happening in Congress which will increase the money for ice

488
00:26:20,040 --> 00:26:23,760
Speaker 1: and homeland. Do you think democrats, I mean, you think

489
00:26:23,800 --> 00:26:26,000
Speaker 1: there's going to be pushback there? You think well they

490
00:26:26,080 --> 00:26:27,560
Speaker 1: better being No.

491
00:26:27,600 --> 00:26:31,240
Speaker 5: I mean, there's there's no justification for at this particular

492
00:26:31,320 --> 00:26:35,480
Speaker 5: moment going along and collaborating with this and and and

493
00:26:35,640 --> 00:26:39,080
Speaker 5: funding ICE. I mean, this is if there's not a

494
00:26:39,280 --> 00:26:42,800
Speaker 5: red lights flashing, should not be business as usual moment,

495
00:26:42,920 --> 00:26:45,520
Speaker 5: This would be it. I don't know how you watch

496
00:26:45,600 --> 00:26:48,440
Speaker 5: what's been happening in Minneapolis right now, which, by the way,

497
00:26:48,440 --> 00:26:50,720
Speaker 5: I think, you know, starting to feel kind of civil

498
00:26:50,800 --> 00:26:55,280
Speaker 5: warry and say yeah, let's give these people some more money.

499
00:26:55,400 --> 00:26:57,360
Speaker 5: And I know there's a debate about should we abolish

500
00:26:57,359 --> 00:27:00,679
Speaker 5: ICE or just simply demilitarized ICE. Let that play out,

501
00:27:00,840 --> 00:27:03,359
Speaker 5: but one thing is pretty clear, you do not, you know,

502
00:27:03,600 --> 00:27:07,040
Speaker 5: fund ICE if you have an option. By the way,

503
00:27:07,080 --> 00:27:11,040
Speaker 5: can I show you something? I can I show you something? Yes,

504
00:27:11,080 --> 00:27:13,359
Speaker 5: all right, I want to show you my sweatshirt that

505
00:27:13,400 --> 00:27:15,560
Speaker 5: I'm wearing here in the frozen tundra. I hope people,

506
00:27:15,720 --> 00:27:18,160
Speaker 5: hope people to see it because I'm actually standing out.

507
00:27:18,760 --> 00:27:23,160
Speaker 1: That's fine, dude, I'm not mad at you. Renee Nicole Good,

508
00:27:23,359 --> 00:27:24,120
Speaker 1: That's fine, dude.

509
00:27:24,720 --> 00:27:27,720
Speaker 5: What she said thirty seconds before she was shot and

510
00:27:27,840 --> 00:27:30,119
Speaker 5: killed by an agent of the Federal gun So my

511
00:27:30,280 --> 00:27:32,640
Speaker 5: wife actually made these up. This is not merch. I'm

512
00:27:32,640 --> 00:27:35,280
Speaker 5: not selling it. There's no place you can buy. But

513
00:27:35,320 --> 00:27:38,240
Speaker 5: my wife was not that political, was so moved, was

514
00:27:38,280 --> 00:27:41,280
Speaker 5: so affected by that that she went online and she

515
00:27:41,359 --> 00:27:44,159
Speaker 5: made one for me, for her, for herself, and for

516
00:27:44,200 --> 00:27:46,480
Speaker 5: her friend. Now that when I say this is breaking through,

517
00:27:47,040 --> 00:27:49,399
Speaker 5: This has really touched the conscience of the nation. There

518
00:27:49,400 --> 00:27:52,200
Speaker 5: are people who are engaging on this who have not

519
00:27:52,320 --> 00:27:56,280
Speaker 5: engaged before by this. So for Democrats in Congress to

520
00:27:56,280 --> 00:28:00,320
Speaker 5: turn around and go, yeah, let's pretend like it's whatineteen

521
00:28:00,440 --> 00:28:03,439
Speaker 5: ninety seven and we're just simply going to vote for

522
00:28:03,480 --> 00:28:06,119
Speaker 5: these appropriation bills. I don't want to say the base

523
00:28:06,200 --> 00:28:08,119
Speaker 5: won't find it acceptable because I don't think it's. No,

524
00:28:08,400 --> 00:28:10,680
Speaker 5: I don't think it's any longer, just simply the base.

525
00:28:10,920 --> 00:28:11,520
Speaker 5: Am I wrong?

526
00:28:11,680 --> 00:28:12,400
Speaker 3: Yeah?

527
00:28:12,520 --> 00:28:15,679
Speaker 1: No, I think you're right. Charlie Sikes, thank you, thank you,

528
00:28:15,760 --> 00:28:18,200
Speaker 1: thank you, thank you. You're the best.

529
00:28:18,960 --> 00:28:20,000
Speaker 3: Thank you. It's always fun.

530
00:28:22,560 --> 00:28:26,760
Speaker 1: Ron In Sauna is the host of Market Scoreboard Report

531
00:28:27,000 --> 00:28:31,920
Speaker 1: and an ms NOW contributor. Welcome to Fast Politics, Ron.

532
00:28:31,960 --> 00:28:33,840
Speaker 3: Thank you for having me. This is an honor to

533
00:28:33,880 --> 00:28:34,200
Speaker 3: be here.

534
00:28:34,480 --> 00:28:36,760
Speaker 1: We watched that that chittera.

535
00:28:37,800 --> 00:28:39,480
Speaker 3: As a technical parent, I trust.

536
00:28:39,280 --> 00:28:42,040
Speaker 1: Yeah, that's right. It's the cognitive term. Can you've been

537
00:28:42,080 --> 00:28:45,360
Speaker 1: to Davos, what does the audience have felt like at

538
00:28:45,360 --> 00:28:45,800
Speaker 1: that moment?

539
00:28:45,880 --> 00:28:47,880
Speaker 2: I think I started to go to Davos in about

540
00:28:48,120 --> 00:28:51,400
Speaker 2: ninety seven or ninety eight, somewhere in that neighborhood. Francis Abusaid,

541
00:28:51,400 --> 00:28:53,160
Speaker 2: who used to work for George Soros, went to work

542
00:28:53,160 --> 00:28:55,959
Speaker 2: for the World Economic Forum and called me up one

543
00:28:56,000 --> 00:28:57,960
Speaker 2: day and said, look, we want coverage of this in

544
00:28:58,000 --> 00:28:58,680
Speaker 2: the United States.

545
00:28:58,720 --> 00:28:59,360
Speaker 3: Would you come out?

546
00:28:59,400 --> 00:29:01,160
Speaker 2: So I started going out, and I went out for

547
00:29:01,160 --> 00:29:04,040
Speaker 2: a number of years, and by and large it was

548
00:29:04,080 --> 00:29:07,720
Speaker 2: the single most collegial, high end event I've ever been to.

549
00:29:07,880 --> 00:29:10,320
Speaker 3: No one took anybody on in the hallways.

550
00:29:10,320 --> 00:29:12,160
Speaker 2: If you were American, you were talking to people from

551
00:29:12,200 --> 00:29:15,479
Speaker 2: the Middle East, you know, whatever reality was going on

552
00:29:15,520 --> 00:29:18,440
Speaker 2: in the outside world. People, In my estimation, people were

553
00:29:18,440 --> 00:29:21,600
Speaker 2: there to have honest and frank conversations about, presumably how

554
00:29:21,600 --> 00:29:24,000
Speaker 2: to make the world better, despite what everybody thinks about

555
00:29:24,080 --> 00:29:27,400
Speaker 2: elites and people flying in on private planes and all

556
00:29:27,400 --> 00:29:30,520
Speaker 2: that kind of stuff that you know, ultimately got described

557
00:29:30,560 --> 00:29:31,480
Speaker 2: as Davos man.

558
00:29:31,520 --> 00:29:33,160
Speaker 3: There were real conversations going on.

559
00:29:33,240 --> 00:29:35,040
Speaker 2: Now, whether or not they led to real outcomes was

560
00:29:35,400 --> 00:29:38,800
Speaker 2: another story, but it was a very collegial gathering of

561
00:29:38,840 --> 00:29:41,640
Speaker 2: people from all around the world, many of them very important,

562
00:29:41,680 --> 00:29:44,080
Speaker 2: some of US journalists covering it. The only time it

563
00:29:44,240 --> 00:29:46,560
Speaker 2: wasn't was in two thousand and three when we were

564
00:29:46,760 --> 00:29:49,280
Speaker 2: planning to invade Iraq and we had to wait till

565
00:29:49,360 --> 00:29:52,280
Speaker 2: Sunday for Colin Powell, then Secretary of State to come

566
00:29:52,280 --> 00:29:55,560
Speaker 2: and give a speech to justify what was the planned invasion.

567
00:29:55,760 --> 00:29:57,720
Speaker 3: And prior to that was one of.

568
00:29:57,640 --> 00:30:00,240
Speaker 2: The least collegial experiences I had where people were and

569
00:30:00,280 --> 00:30:02,959
Speaker 2: I wasn't a government official. Clearly people were coming up

570
00:30:02,960 --> 00:30:04,840
Speaker 2: to me and saying, you guys are nuts. You know,

571
00:30:04,880 --> 00:30:06,760
Speaker 2: you're all crazy, and there are people putting their finger

572
00:30:06,760 --> 00:30:09,800
Speaker 2: in my face, and it was hostile, you know. And

573
00:30:09,880 --> 00:30:12,960
Speaker 2: after Powell spoke, everybody's like, Okay, we get it, and

574
00:30:13,000 --> 00:30:15,320
Speaker 2: it went back to normal. And usually, like I say,

575
00:30:15,360 --> 00:30:19,320
Speaker 2: it's a pretty collegial, open environment. You know, people are

576
00:30:19,320 --> 00:30:21,520
Speaker 2: moving through the Congress Center talking in the hallway, there

577
00:30:21,520 --> 00:30:24,440
Speaker 2: are side meetings, there are you know, the plenary sessions

578
00:30:24,480 --> 00:30:26,680
Speaker 2: where people talk about big ideas.

579
00:30:26,960 --> 00:30:28,680
Speaker 3: This is a very different experience.

580
00:30:28,880 --> 00:30:33,120
Speaker 2: I've never seen anything remotely like this, where the president

581
00:30:33,160 --> 00:30:36,080
Speaker 2: swoops in makes some really costic comments about a wide

582
00:30:36,160 --> 00:30:39,240
Speaker 2: variety of individuals who are there not to mention, you know,

583
00:30:39,320 --> 00:30:41,800
Speaker 2: trashing alliances that we have, and then within a matter

584
00:30:41,840 --> 00:30:46,400
Speaker 2: of hours presumably cuts a framework deal over Greenland that

585
00:30:46,400 --> 00:30:49,200
Speaker 2: we've been arguing about now for several weeks without a

586
00:30:49,240 --> 00:30:51,480
Speaker 2: moment's notice. I mean, this is just in a sense,

587
00:30:52,240 --> 00:30:54,280
Speaker 2: and I'll put a point on this after a very

588
00:30:54,280 --> 00:30:56,760
Speaker 2: long winded answer, it's just somewhat incomprehensible.

589
00:30:57,200 --> 00:30:59,640
Speaker 1: Explain to us what the framework deal is.

590
00:31:00,200 --> 00:31:03,560
Speaker 3: You do that. We have no details.

591
00:31:03,640 --> 00:31:07,240
Speaker 2: So there's a framework agreement with NATO that somehow includes

592
00:31:07,400 --> 00:31:11,200
Speaker 2: protecting Iceland and the Arctic from any adverse threats coming

593
00:31:11,200 --> 00:31:14,960
Speaker 2: from outside the alliance, which would probably signal China and Russia.

594
00:31:15,000 --> 00:31:17,360
Speaker 2: The deal is going to be worked out by Steve

595
00:31:17,400 --> 00:31:19,440
Speaker 2: Witkoff and Marco Rubio.

596
00:31:19,320 --> 00:31:23,440
Speaker 1: The best Yeah, you know, the Crement crack team.

597
00:31:24,720 --> 00:31:25,880
Speaker 3: But there are no details.

598
00:31:25,920 --> 00:31:28,000
Speaker 2: There's gonna be an interview to President by Joe Kurnin

599
00:31:28,080 --> 00:31:30,480
Speaker 2: of CNBC at some juncture that will air on the network.

600
00:31:30,600 --> 00:31:32,960
Speaker 2: I don't know if there'll be any details or any

601
00:31:33,000 --> 00:31:35,760
Speaker 2: outline that's included. But you know what's interesting all is

602
00:31:36,200 --> 00:31:38,440
Speaker 2: all the deals that we've cut so far on trade,

603
00:31:38,880 --> 00:31:41,640
Speaker 2: or any other agreements that we have since the beginning

604
00:31:41,680 --> 00:31:46,040
Speaker 2: of the second Trump administration have been framework deals, no

605
00:31:46,040 --> 00:31:50,200
Speaker 2: no detail worked out, no lengthy documents, no legalies, no

606
00:31:50,360 --> 00:31:53,440
Speaker 2: technical language. So I suspect right now we're kind of

607
00:31:53,480 --> 00:31:57,320
Speaker 2: in that same situation where there's some sort of handshake

608
00:31:57,360 --> 00:32:00,000
Speaker 2: agreement that number one, the President's not going to impost

609
00:32:00,160 --> 00:32:03,680
Speaker 2: tariffs to Europe's not going to retaliate, They're not going

610
00:32:03,720 --> 00:32:05,800
Speaker 2: to sell US bonds. They're not going to do anything

611
00:32:05,920 --> 00:32:08,840
Speaker 2: that will harm at least the trade relationship between the

612
00:32:08,880 --> 00:32:10,600
Speaker 2: two players here, if you will.

613
00:32:10,840 --> 00:32:13,000
Speaker 3: But we don't have any other details at the moment.

614
00:32:13,200 --> 00:32:16,520
Speaker 1: It sounds like every other thing in Trump world, light

615
00:32:16,680 --> 00:32:22,760
Speaker 1: on details, heavy on whatever. The totally ultimately pretty meaning

616
00:32:22,920 --> 00:32:26,680
Speaker 1: US right because it was a NATO principality or it

617
00:32:26,760 --> 00:32:30,680
Speaker 1: was connected to a NATO entity anyway, So if China

618
00:32:30,880 --> 00:32:34,360
Speaker 1: or Russia had invaded it, NATO would have been activated anyway.

619
00:32:34,440 --> 00:32:37,080
Speaker 1: I mean, it's like we're basically this is a problem

620
00:32:37,480 --> 00:32:40,760
Speaker 1: that never existed that he is now solving.

621
00:32:41,160 --> 00:32:41,480
Speaker 3: Correct.

622
00:32:41,480 --> 00:32:43,240
Speaker 2: So if you go back to nineteen fifty one, in

623
00:32:43,280 --> 00:32:47,240
Speaker 2: which we had in accord with Denmark to place military

624
00:32:47,280 --> 00:32:50,600
Speaker 2: bases and troops as many as we would like as

625
00:32:50,720 --> 00:32:53,280
Speaker 2: much as we would like. I'm Greenland to protect you know,

626
00:32:53,360 --> 00:32:56,960
Speaker 2: northern Europe and Europe broadly speaking, from any attacks from

627
00:32:57,120 --> 00:33:00,920
Speaker 2: our Cold War adversaries. Nothing has changed. Now, we've drotten

628
00:33:00,920 --> 00:33:02,920
Speaker 2: down the number of troops that we put on the island,

629
00:33:03,000 --> 00:33:06,080
Speaker 2: We've we've closed some bases, but nothing's been taken away

630
00:33:06,080 --> 00:33:09,520
Speaker 2: in that are the right to be there or the opportunity,

631
00:33:09,600 --> 00:33:12,200
Speaker 2: the obligation the offer to be there has been in

632
00:33:12,240 --> 00:33:15,959
Speaker 2: place since nineteen fifty one. So it appears, you know,

633
00:33:16,200 --> 00:33:18,040
Speaker 2: and I kind of thought it would work out this way.

634
00:33:18,720 --> 00:33:20,040
Speaker 1: Then nothing has happened.

635
00:33:20,160 --> 00:33:24,200
Speaker 2: They're going to renegotiate to some small degree and extend

636
00:33:24,720 --> 00:33:27,760
Speaker 2: an agreement that's already been in place and in force

637
00:33:28,200 --> 00:33:29,960
Speaker 2: for seventy plus years.

638
00:33:30,240 --> 00:33:33,160
Speaker 1: It reminds me of when Trump did the NAFTA two

639
00:33:33,200 --> 00:33:35,280
Speaker 1: point zero and it was just like NAFTA with a

640
00:33:35,360 --> 00:33:35,760
Speaker 1: new name.

641
00:33:36,040 --> 00:33:38,360
Speaker 2: Yeah, there was like five percent difference in what from

642
00:33:38,400 --> 00:33:40,800
Speaker 2: the original you know language that was struck during the

643
00:33:40,840 --> 00:33:43,800
Speaker 2: Clinton years. And yeah, this this seems to be you know,

644
00:33:44,000 --> 00:33:46,959
Speaker 2: unless you're crazy, see this seems to be a recurring pattern, right,

645
00:33:47,000 --> 00:33:49,400
Speaker 2: I mean, there is the straight pattern recognition. It's it's

646
00:33:49,480 --> 00:33:52,720
Speaker 2: create a crisis for which there is no problem and

647
00:33:52,760 --> 00:33:57,240
Speaker 2: then offer a solution and declare victory and say great

648
00:33:57,360 --> 00:33:59,520
Speaker 2: progress was made, when in fact all he had to

649
00:33:59,560 --> 00:34:01,680
Speaker 2: do was as all along, I was just say, listen,

650
00:34:01,800 --> 00:34:03,080
Speaker 2: we increased number of bases.

651
00:34:03,120 --> 00:34:05,120
Speaker 3: Can we put more troops out for a good reason?

652
00:34:05,160 --> 00:34:06,000
Speaker 3: By the way, I mean, look, if.

653
00:34:06,160 --> 00:34:08,319
Speaker 2: You look at and again it's what's what's ironic here

654
00:34:08,400 --> 00:34:11,160
Speaker 2: is they're worried about the Arctic ice melt, which is

655
00:34:11,200 --> 00:34:14,439
Speaker 2: a climate change issue which the administration denies is taking place.

656
00:34:15,040 --> 00:34:18,800
Speaker 2: And yet you've got Russian subs, Chinese subs, ice breakers

657
00:34:18,840 --> 00:34:21,560
Speaker 2: working through the you know, Arctic Circle, and people are

658
00:34:21,560 --> 00:34:24,600
Speaker 2: worried about both maritime and military risk up there. And

659
00:34:24,640 --> 00:34:27,920
Speaker 2: so yes, from a national security perspective, and any president

660
00:34:27,960 --> 00:34:31,880
Speaker 2: prior to Donald Trump had this on his agenda, and

661
00:34:31,960 --> 00:34:36,359
Speaker 2: so it's not new the approach, it most certainly is.

662
00:34:36,440 --> 00:34:39,799
Speaker 2: And I think any other president understanding what's transpiring and

663
00:34:39,840 --> 00:34:42,880
Speaker 2: seeing you know, Chinese subs, some of which are nuclear powered,

664
00:34:42,960 --> 00:34:45,240
Speaker 2: you know, some others may be nuclear armed.

665
00:34:45,360 --> 00:34:46,640
Speaker 3: You know, you'd want to.

666
00:34:46,560 --> 00:34:49,200
Speaker 2: Have some access and write a passage up there with

667
00:34:49,320 --> 00:34:51,920
Speaker 2: the support of not just Greenland but Denmark and then

668
00:34:51,960 --> 00:34:53,480
Speaker 2: all of NATO right, if.

669
00:34:53,360 --> 00:34:56,440
Speaker 1: We were going down like a road of things making sense,

670
00:34:56,640 --> 00:34:59,520
Speaker 1: you would probably not have spent the speech for rating

671
00:34:59,640 --> 00:35:02,480
Speaker 1: Mark Carney. You know, he gave this very sort of

672
00:35:02,600 --> 00:35:07,040
Speaker 1: elegant speech about how important it is to represent values

673
00:35:07,160 --> 00:35:10,280
Speaker 1: and how the sort of middle countries need to stand

674
00:35:10,360 --> 00:35:13,799
Speaker 1: for decency and never once said Donald Trump's name, and

675
00:35:13,840 --> 00:35:15,799
Speaker 1: he was and Donald Trump got up there and was like, yeah,

676
00:35:15,840 --> 00:35:18,360
Speaker 1: Mark Carney, Yeah, you dumb.

677
00:35:18,200 --> 00:35:21,520
Speaker 2: Lib Yeah, which, by the way, I don't think he

678
00:35:21,600 --> 00:35:23,440
Speaker 2: is really you know, Mark Carney was the head of

679
00:35:23,480 --> 00:35:24,759
Speaker 2: the Bank of England, he was the head of the

680
00:35:24,800 --> 00:35:27,960
Speaker 2: Bank of Canada. He's Oxford educated. I mean, he's the

681
00:35:28,000 --> 00:35:30,799
Speaker 2: real deal. He's not just some kind of small time, you.

682
00:35:30,719 --> 00:35:32,640
Speaker 3: Know, Canadian politician, right.

683
00:35:32,719 --> 00:35:35,600
Speaker 1: I mean we heard the speech. We know he is

684
00:35:35,600 --> 00:35:38,760
Speaker 1: the real deal. And that's why Donald Trump was so mad.

685
00:35:38,840 --> 00:35:41,040
Speaker 2: I think, yeah, look, and I think the thing that

686
00:35:41,080 --> 00:35:43,960
Speaker 2: I do fear is that no matter how this turns out,

687
00:35:44,000 --> 00:35:46,480
Speaker 2: if even if it's in you know, the US's favor,

688
00:35:46,760 --> 00:35:49,400
Speaker 2: this is going to hurt relations with all the natal countries.

689
00:35:49,400 --> 00:35:50,960
Speaker 3: It's going to hurt relations with Canada.

690
00:35:51,120 --> 00:35:54,520
Speaker 2: These are major major trading partners for the United States, Canada,

691
00:35:54,560 --> 00:35:58,040
Speaker 2: and Mexico. Combined, you know, are our biggest trading partner Europe.

692
00:35:58,080 --> 00:36:01,040
Speaker 2: As second China is slipping now because they're importing so

693
00:36:01,120 --> 00:36:03,840
Speaker 2: much less based on the tariffs that we've imposed or

694
00:36:03,880 --> 00:36:07,960
Speaker 2: that the trustrations imposed. I don't understand this alienation to

695
00:36:08,000 --> 00:36:10,040
Speaker 2: get a result that was already preordained.

696
00:36:10,200 --> 00:36:11,840
Speaker 3: I don't get what this is about.

697
00:36:12,040 --> 00:36:14,719
Speaker 2: You know, I'm sure psychological studies will be done for

698
00:36:14,800 --> 00:36:17,560
Speaker 2: decades into the future about this approach to how to

699
00:36:17,600 --> 00:36:19,960
Speaker 2: run a country, but it just none of this makes

700
00:36:19,960 --> 00:36:22,440
Speaker 2: sense to me. And every day when we have an

701
00:36:22,480 --> 00:36:26,560
Speaker 2: event like this, you get a big market reaction, market drops,

702
00:36:26,680 --> 00:36:29,440
Speaker 2: and then you get the accusation of you know, a

703
00:36:29,520 --> 00:36:32,839
Speaker 2: taco Tuesday or a Taco Wednesday, where Trump again chickens out,

704
00:36:33,000 --> 00:36:35,520
Speaker 2: backs away, takes the tariffs off the table, and now

705
00:36:35,520 --> 00:36:37,920
Speaker 2: the Dow's up as much as it was down yesterday.

706
00:36:38,080 --> 00:36:41,560
Speaker 1: Yeah, it does seem like there's so much normalcy biased.

707
00:36:41,760 --> 00:36:43,799
Speaker 1: I feel like it's the belief that Donald Trump is

708
00:36:43,840 --> 00:36:45,760
Speaker 1: just pretending to be crazy.

709
00:36:45,880 --> 00:36:48,080
Speaker 2: Yeah, and I get that, And I understand that there's

710
00:36:48,120 --> 00:36:50,080
Speaker 2: the mad man theory, right that goes back to Richard

711
00:36:50,160 --> 00:36:53,200
Speaker 2: Nixon about keep them guessing and then if you take

712
00:36:53,280 --> 00:36:56,160
Speaker 2: them to the worst possible place, you can negotiate the

713
00:36:56,160 --> 00:36:59,960
Speaker 2: best possible deal. And I understand in Nixon's era and again,

714
00:37:00,080 --> 00:37:02,200
Speaker 2: and this is not to forgive anything he did during

715
00:37:02,239 --> 00:37:05,280
Speaker 2: his presidency, but in his eraror when he was dealing

716
00:37:05,320 --> 00:37:08,440
Speaker 2: with Mao and Stalin, there might have been some rationale

717
00:37:08,760 --> 00:37:12,120
Speaker 2: for showing a little crazy because the other two guys were,

718
00:37:12,239 --> 00:37:16,160
Speaker 2: you know, mass murderers and absolutely crazy. And you could

719
00:37:16,239 --> 00:37:19,759
Speaker 2: argue that she and Putin have similar characteristics to Mao

720
00:37:20,080 --> 00:37:23,160
Speaker 2: and Stalin. And yet that's not who the president's going after.

721
00:37:23,239 --> 00:37:26,560
Speaker 2: The President's using the madman theory on our own allies,

722
00:37:26,760 --> 00:37:29,279
Speaker 2: which you know doesn't redoubt to our benefit in any way,

723
00:37:29,320 --> 00:37:29,959
Speaker 2: shape or form.

724
00:37:30,160 --> 00:37:32,120
Speaker 1: Oh yeah, I want to just go back to this

725
00:37:32,239 --> 00:37:34,759
Speaker 1: idea that the markets don't believe he's going to do

726
00:37:34,840 --> 00:37:38,280
Speaker 1: bad stuff. By the way, this speech, he was completely nuts,

727
00:37:38,280 --> 00:37:41,000
Speaker 1: but he did say he said, we're not going to

728
00:37:41,080 --> 00:37:42,799
Speaker 1: go to war with Greenland, and then he said, but

729
00:37:42,880 --> 00:37:44,800
Speaker 1: you're gonna right.

730
00:37:44,760 --> 00:37:47,840
Speaker 3: Like he did step back as soon as he said that, right.

731
00:37:48,120 --> 00:37:50,960
Speaker 1: But then the other thing that I think may influence

732
00:37:51,000 --> 00:37:54,600
Speaker 1: the markets was that Brett Kavanaugh said you can't fire

733
00:37:55,040 --> 00:37:56,600
Speaker 1: Lisa Cook, so talk about that.

734
00:37:56,760 --> 00:37:59,239
Speaker 2: Basically, he said, for all intents and purposes, there's this

735
00:37:59,360 --> 00:38:02,319
Speaker 2: ongoing case now before the Supreme Court with the Trump

736
00:38:02,360 --> 00:38:05,600
Speaker 2: administration having alleged Lisa Cook, a Federal Reserve governor prior

737
00:38:05,680 --> 00:38:08,560
Speaker 2: to being on the Federal Reserve, engaged in mortgage fraud

738
00:38:08,560 --> 00:38:10,360
Speaker 2: by claim to priory records.

739
00:38:10,640 --> 00:38:14,520
Speaker 1: Because all of Trump's enemies have done mortgage fraud, and

740
00:38:14,600 --> 00:38:19,080
Speaker 1: Bill Poulti, the genius, has found the marga traud continue.

741
00:38:19,440 --> 00:38:22,680
Speaker 2: Not only that there's some reporting that Bill Poulti's family

742
00:38:22,719 --> 00:38:23,640
Speaker 2: did the same thing.

743
00:38:23,840 --> 00:38:26,400
Speaker 3: But President Trump has done the same thing. That's got best.

744
00:38:26,480 --> 00:38:29,120
Speaker 2: Done the same thing the secretary blah blah blah, But

745
00:38:29,160 --> 00:38:31,600
Speaker 2: all happen before she was on the Fed. And a

746
00:38:31,640 --> 00:38:35,279
Speaker 2: federal Reserve governor can be fired for cause assuming they

747
00:38:35,360 --> 00:38:38,640
Speaker 2: do something wrong harmful while they're in the job.

748
00:38:38,920 --> 00:38:41,280
Speaker 1: So they have to do cause, yeah, yeah.

749
00:38:41,120 --> 00:38:43,600
Speaker 2: And so there was no predicate for this, and yet

750
00:38:43,640 --> 00:38:46,000
Speaker 2: it somehow made its way to the Supreme Court to

751
00:38:46,080 --> 00:38:50,080
Speaker 2: determine whether or not a quasi independent agency, unlike other

752
00:38:50,360 --> 00:38:53,880
Speaker 2: independent agencies within the federal government, was held to the

753
00:38:53,920 --> 00:38:57,280
Speaker 2: same standard, and that the president could then fire someone

754
00:38:57,480 --> 00:38:59,880
Speaker 2: who was picked by another president to be on the

755
00:39:00,080 --> 00:39:03,760
Speaker 2: board and confirmed by the Senate. It appeared when Cavanagh

756
00:39:03,800 --> 00:39:06,080
Speaker 2: asked the question if you do this, and it was

757
00:39:06,160 --> 00:39:08,960
Speaker 2: kind of two parter number one, will other presidents do this?

758
00:39:09,160 --> 00:39:11,800
Speaker 2: And two will this harm the independence of the Federal

759
00:39:11,800 --> 00:39:15,319
Speaker 2: Reserve and create a politicized FED that where interest rate

760
00:39:15,360 --> 00:39:18,080
Speaker 2: decisions are made for political rather than economic reasons.

761
00:39:18,120 --> 00:39:20,120
Speaker 3: And that seemed to lead everybody to believe.

762
00:39:19,840 --> 00:39:21,720
Speaker 2: That the Supreme Court was going to rule against Donald

763
00:39:21,760 --> 00:39:24,480
Speaker 2: Trump and his ability to fire someone on the FED

764
00:39:24,640 --> 00:39:29,239
Speaker 2: unless they did something truly consequential and wrong while they

765
00:39:29,280 --> 00:39:30,320
Speaker 2: were serving in their position.

766
00:39:30,480 --> 00:39:34,160
Speaker 1: Right, So that means Trump can destroy other parts of

767
00:39:34,200 --> 00:39:37,920
Speaker 1: the federal government, but the FED that's limits.

768
00:39:38,200 --> 00:39:41,200
Speaker 2: That's with good reason, by the way, I mean, if

769
00:39:41,200 --> 00:39:43,680
Speaker 2: you look at politicized central banks around the world, you

770
00:39:43,680 --> 00:39:45,759
Speaker 2: get Inflatian currency collapses and all that.

771
00:39:45,960 --> 00:39:48,239
Speaker 1: I want them to have less power up more. I

772
00:39:48,400 --> 00:39:51,279
Speaker 1: wonder when you're listening to that speech, though I made

773
00:39:51,280 --> 00:39:53,520
Speaker 1: the mistake of listening to about forty five minutes of it,

774
00:39:53,560 --> 00:39:56,000
Speaker 1: and I mean went over an hour. What I was

775
00:39:56,080 --> 00:40:00,120
Speaker 1: truck by was how little either he doesn't understand a

776
00:40:00,200 --> 00:40:03,160
Speaker 1: lot of pretty simple stuff, or when he does that

777
00:40:03,200 --> 00:40:07,080
Speaker 1: stuff where he talks about why interest rates should bellow,

778
00:40:07,320 --> 00:40:09,400
Speaker 1: doesn't that make you a little scared.

779
00:40:09,360 --> 00:40:10,320
Speaker 3: Well, it makes me scared.

780
00:40:10,520 --> 00:40:12,640
Speaker 2: So look, I've been wearing this hat for forty one years, right,

781
00:40:12,719 --> 00:40:14,600
Speaker 2: I mean, I've been covering and I started I started

782
00:40:14,600 --> 00:40:16,680
Speaker 2: going to the FED when Alan Greenspan was chair and

783
00:40:16,880 --> 00:40:18,239
Speaker 2: known every FED share except for J.

784
00:40:18,360 --> 00:40:19,680
Speaker 3: Powell since I've been in the business.

785
00:40:19,840 --> 00:40:22,680
Speaker 2: And yeah, it makes me scared because the decisions that

786
00:40:22,719 --> 00:40:26,600
Speaker 2: the Federal Reserve makes affect everybody, not just financial markets,

787
00:40:26,600 --> 00:40:29,400
Speaker 2: but your mortgage rate, your auto loane rate, not so

788
00:40:29,520 --> 00:40:32,279
Speaker 2: much credit card rates, which are set in a different way,

789
00:40:32,640 --> 00:40:34,759
Speaker 2: but it does have a major impact on how the

790
00:40:34,800 --> 00:40:37,920
Speaker 2: economy performs. And so you want people who are making

791
00:40:38,560 --> 00:40:41,360
Speaker 2: those decisions to be making those decisions based on the

792
00:40:41,400 --> 00:40:45,759
Speaker 2: best economic information, not the President saying, you know, short

793
00:40:45,840 --> 00:40:47,799
Speaker 2: term interest rate should be at one percent because that's

794
00:40:47,840 --> 00:40:51,000
Speaker 2: where I want them when inflation's almost three percent. When

795
00:40:51,080 --> 00:40:53,560
Speaker 2: when just not to get too far in the market

796
00:40:53,560 --> 00:40:56,600
Speaker 2: weeds or in the economy weeds. If you pushed the

797
00:40:56,960 --> 00:40:59,839
Speaker 2: if you pushed interest rates below the inflation rate, there's

798
00:40:59,840 --> 00:41:02,319
Speaker 2: a very good chance you're going to spike inflation, and

799
00:41:02,360 --> 00:41:04,359
Speaker 2: you're going to create a most environment than the one

800
00:41:04,480 --> 00:41:08,120
Speaker 2: you have. And so That's why people so jealously guard

801
00:41:08,520 --> 00:41:10,920
Speaker 2: in modern times the independence of the Federal Reserve. Now,

802
00:41:10,960 --> 00:41:13,560
Speaker 2: if you go back prior to nineteen fifty one, since

803
00:41:13,600 --> 00:41:16,160
Speaker 2: the creation of the Federal Reserve in nineteen thirteen, the

804
00:41:16,160 --> 00:41:18,799
Speaker 2: President and the Treasury Secretary actually did have a say

805
00:41:19,400 --> 00:41:24,000
Speaker 2: in how interest rate policy was decided. And then during

806
00:41:24,040 --> 00:41:26,640
Speaker 2: the Truman years, during the Korean War, we were fighting inflation,

807
00:41:27,040 --> 00:41:29,719
Speaker 2: the FED wanted to raise rates, Truman didn't want them to.

808
00:41:30,440 --> 00:41:31,680
Speaker 3: They came to blows over this.

809
00:41:31,840 --> 00:41:35,000
Speaker 2: Privately, they struck what was called the Treasury Fed Accord,

810
00:41:35,400 --> 00:41:38,680
Speaker 2: and that was the basis on which we have a modern,

811
00:41:39,040 --> 00:41:44,000
Speaker 2: independent Federal Reserve that sets interest rate policy based on

812
00:41:44,239 --> 00:41:47,840
Speaker 2: economic information at hand, not as a result of political pressure.

813
00:41:47,920 --> 00:41:50,960
Speaker 2: So it's critical to know the FED wasn't always like this,

814
00:41:51,360 --> 00:41:54,000
Speaker 2: But we know from history and from other examples it's

815
00:41:54,040 --> 00:41:56,879
Speaker 2: important to keep the Fed the way it is now as.

816
00:41:56,800 --> 00:41:59,320
Speaker 3: Opposed to the way it was when it was first formed.

817
00:41:59,480 --> 00:42:02,200
Speaker 1: The fact that he doesn't understand, or he's sort of

818
00:42:02,239 --> 00:42:05,279
Speaker 1: working through stuff that a president should know, is kind

819
00:42:05,320 --> 00:42:06,160
Speaker 1: of scary. Right.

820
00:42:06,280 --> 00:42:07,880
Speaker 2: I grapple with this a lot, right. I Mean, I

821
00:42:08,080 --> 00:42:10,120
Speaker 2: knew him as a businessman. I covered him as a

822
00:42:10,120 --> 00:42:12,440
Speaker 2: businessman when I was in my full time position at

823
00:42:12,480 --> 00:42:15,279
Speaker 2: CNBC back in the day. You know, you do get

824
00:42:15,280 --> 00:42:18,240
Speaker 2: this kind of different person that you confront in when

825
00:42:18,239 --> 00:42:19,960
Speaker 2: you're in a room with him, right, he can be cordial,

826
00:42:20,280 --> 00:42:22,200
Speaker 2: he'd be gracious, he can seem smart.

827
00:42:22,360 --> 00:42:23,840
Speaker 3: And then when you hear him talk about.

828
00:42:23,600 --> 00:42:26,000
Speaker 2: These things on TV, you wonder, you know, does he

829
00:42:26,120 --> 00:42:29,520
Speaker 2: so misapprehend history? Does he not understand rule of law?

830
00:42:29,560 --> 00:42:33,160
Speaker 2: Does he not understand the Constitution? When he speaks publicly,

831
00:42:33,200 --> 00:42:35,360
Speaker 2: it makes you really doubt whether he has a grasp

832
00:42:35,480 --> 00:42:39,319
Speaker 2: of any of the topics or subjects or law or

833
00:42:39,320 --> 00:42:44,359
Speaker 2: anything that he's responsible for, you know, executing and acting upon.

834
00:42:44,400 --> 00:42:46,719
Speaker 3: And so it's really hard to figure out.

835
00:42:46,760 --> 00:42:48,879
Speaker 2: You talk to some people who know him much better

836
00:42:48,920 --> 00:42:51,200
Speaker 2: than I do, and they say, look, behind the scenes,

837
00:42:51,239 --> 00:42:52,000
Speaker 2: he's a smart guy.

838
00:42:52,120 --> 00:42:55,400
Speaker 3: He's savvy. Clearly, he's a brilliant marketer in some sense

839
00:42:55,440 --> 00:42:55,839
Speaker 3: of the word.

840
00:42:55,880 --> 00:42:59,960
Speaker 2: He can tap into certain things, you know, the popular

841
00:43:00,080 --> 00:43:02,760
Speaker 2: mood or what have you. But again, when he speaks publicly,

842
00:43:03,120 --> 00:43:05,960
Speaker 2: it makes you question what he knows about history, what

843
00:43:06,000 --> 00:43:09,080
Speaker 2: he knows about the Constitution, what he knows about alliances

844
00:43:09,560 --> 00:43:10,400
Speaker 2: and world affairs.

845
00:43:10,640 --> 00:43:14,239
Speaker 1: Yeah, I'll say is what's happening here. Investors believe the

846
00:43:14,280 --> 00:43:17,600
Speaker 1: AI boom is going to be so seismic that it

847
00:43:17,680 --> 00:43:20,600
Speaker 1: can eat all the other right. I mean, like, when

848
00:43:20,600 --> 00:43:23,680
Speaker 1: you look at our economy, we're not the envy of

849
00:43:23,800 --> 00:43:26,840
Speaker 1: the developed world anymore. We're sort of bringing up the rear.

850
00:43:27,120 --> 00:43:29,560
Speaker 1: But we're not in a terrible position because we have

851
00:43:29,600 --> 00:43:32,799
Speaker 1: all these tech companies running us up. But I mean,

852
00:43:32,960 --> 00:43:36,320
Speaker 1: is the thinking here that it's just it's so good?

853
00:43:36,800 --> 00:43:39,719
Speaker 1: Does the tariff stuff never come home to roost? I mean,

854
00:43:40,200 --> 00:43:42,799
Speaker 1: just talk us through what the economy looks like right now,

855
00:43:42,880 --> 00:43:43,960
Speaker 1: what you think is happening.

856
00:43:44,120 --> 00:43:46,160
Speaker 3: So back into it. I'll start with the tarra stuff first.

857
00:43:46,200 --> 00:43:48,839
Speaker 2: So the TIFFs that are in place right now, which

858
00:43:48,960 --> 00:43:51,880
Speaker 2: according to the Yello Budget lab have a roughly fifteen

859
00:43:51,920 --> 00:43:55,239
Speaker 2: percent effective rate, companies are paying about eight percent in

860
00:43:55,280 --> 00:43:59,120
Speaker 2: real terms. They're absorbing most of it because they're expecting

861
00:43:59,360 --> 00:44:02,080
Speaker 2: the Supreme Court or to overturn the legality of a

862
00:44:02,120 --> 00:44:04,680
Speaker 2: specific set of tariffs that the president put in place,

863
00:44:04,719 --> 00:44:07,399
Speaker 2: so they're not really passing on the majority of those

864
00:44:07,400 --> 00:44:10,920
Speaker 2: costs to consumers. So while inflation remains elevated and it

865
00:44:10,960 --> 00:44:12,960
Speaker 2: was pushed up a little bit by the tariffs not

866
00:44:13,080 --> 00:44:15,520
Speaker 2: nearly as much as we thought on Liberation Day back

867
00:44:15,560 --> 00:44:19,240
Speaker 2: in early April. If the President had implemented those massive

868
00:44:19,280 --> 00:44:22,000
Speaker 2: tariffs across the board and around the world, that would

869
00:44:22,000 --> 00:44:25,600
Speaker 2: have been inflationary, recessionary. All of that stuff didn't happen.

870
00:44:25,760 --> 00:44:29,160
Speaker 2: AI is real in the sense that this infrastructure build

871
00:44:29,160 --> 00:44:32,040
Speaker 2: out that's taking place is propping up a certain sector

872
00:44:32,040 --> 00:44:35,520
Speaker 2: of the economy. We're building data warehouses, we're selling software,

873
00:44:35,560 --> 00:44:38,320
Speaker 2: we're creating computer chips, and so there is a boom

874
00:44:38,360 --> 00:44:41,839
Speaker 2: going on in a certain part of the economy. And

875
00:44:41,880 --> 00:44:44,040
Speaker 2: then when you talk to other economists, you know those

876
00:44:44,080 --> 00:44:45,560
Speaker 2: who are doing really well.

877
00:44:45,320 --> 00:44:48,000
Speaker 3: And benefiting from the upside in the stock market.

878
00:44:48,000 --> 00:44:50,440
Speaker 2: The top twenty percent of all wag journers and the

879
00:44:50,480 --> 00:44:53,880
Speaker 2: top twenty percent of the wealthy are accounting for about

880
00:44:53,960 --> 00:44:57,200
Speaker 2: two thirds of all consumer spending, which by itself is

881
00:44:57,200 --> 00:44:59,280
Speaker 2: two thirds of all GDP growth.

882
00:44:59,360 --> 00:45:02,680
Speaker 3: Right, So it's a bifurcated economy. It's that case shape

883
00:45:02,800 --> 00:45:04,560
Speaker 3: property that everybody's talking about.

884
00:45:05,000 --> 00:45:07,560
Speaker 2: And if something goes wrong, we'll go into a recession

885
00:45:07,560 --> 00:45:09,680
Speaker 2: because labor market's weak relatively speaking.

886
00:45:09,760 --> 00:45:12,520
Speaker 3: So it's a boom of sorts.

887
00:45:13,040 --> 00:45:15,960
Speaker 2: Now if somebody, if somebody fails at this, somebody if

888
00:45:15,960 --> 00:45:19,440
Speaker 2: some AI company, prominent AI company does not deliver on

889
00:45:19,480 --> 00:45:22,120
Speaker 2: the promise, there's going to be a big market correction

890
00:45:22,200 --> 00:45:24,120
Speaker 2: and there's going to be you know, some hell to

891
00:45:24,120 --> 00:45:27,480
Speaker 2: pay on Wall Street, and that will hurt individual investors

892
00:45:27,560 --> 00:45:28,840
Speaker 2: and some wealthier in.

893
00:45:29,080 --> 00:45:31,000
Speaker 1: Does it seem like it's coming.

894
00:45:31,320 --> 00:45:34,279
Speaker 2: I've experiences, you know, any teacher. Yeah, I mean it's

895
00:45:34,280 --> 00:45:35,360
Speaker 2: going to happen for you.

896
00:45:35,360 --> 00:45:35,600
Speaker 3: Again.

897
00:45:35,719 --> 00:45:38,120
Speaker 2: For as long as I've been doing this, we've had

898
00:45:38,200 --> 00:45:40,480
Speaker 2: a crisis about once every ten years.

899
00:45:40,719 --> 00:45:42,840
Speaker 3: You know, We've had more different bubbles.

900
00:45:42,880 --> 00:45:45,200
Speaker 2: We're getting close to being do you know two thousand

901
00:45:45,200 --> 00:45:48,920
Speaker 2: and eight being the most recent actual financial crisis relative

902
00:45:48,920 --> 00:45:52,239
Speaker 2: to the pandemic, which was something entirely different. So yeah,

903
00:45:52,239 --> 00:45:54,480
Speaker 2: we're you know, it's been seventeen years since the last

904
00:45:54,680 --> 00:45:58,120
Speaker 2: true financial crisis, and you've got that, You've got probably

905
00:45:58,160 --> 00:46:00,920
Speaker 2: some excesses in certain as specs of the market, like

906
00:46:00,960 --> 00:46:03,600
Speaker 2: private credit, where there's a lot of lending, maybe some

907
00:46:03,719 --> 00:46:07,400
Speaker 2: bad lending going on that that could hurt financial institution.

908
00:46:07,560 --> 00:46:09,480
Speaker 3: So we're keeping an eye on that. This is but

909
00:46:09,560 --> 00:46:10,439
Speaker 3: this is not a boom time.

910
00:46:10,480 --> 00:46:12,680
Speaker 2: I mean, you know, economy is growing roughly two percent,

911
00:46:12,960 --> 00:46:15,600
Speaker 2: Inflation is a little bit higher than two percent. Labor

912
00:46:15,640 --> 00:46:18,680
Speaker 2: market growth is non existent, so we're kind of in

913
00:46:18,719 --> 00:46:22,560
Speaker 2: a muddle through economy. And so again, this is not

914
00:46:22,600 --> 00:46:24,920
Speaker 2: a This might be a gilded age, but it's not

915
00:46:24,960 --> 00:46:25,719
Speaker 2: a golden age.

916
00:46:25,960 --> 00:46:29,000
Speaker 1: Ron. Thank you, thank you, thank you for joining.

917
00:46:29,120 --> 00:46:35,800
Speaker 2: Thank you, Molli, thanks for having me as a pleasure.

918
00:46:33,239 --> 00:46:38,440
Speaker 1: No moment, Jesse Cannon Mally.

919
00:46:38,719 --> 00:46:42,200
Speaker 4: As we've been seeing under RFK, they've been making lots

920
00:46:42,239 --> 00:46:46,840
Speaker 4: of very very horrifying moves about how they measure things.

921
00:46:47,040 --> 00:46:50,480
Speaker 4: And the EPA has stopped estimating the dollar value of

922
00:46:50,560 --> 00:46:54,480
Speaker 4: live saved in a cost benefit analysis for new pollution rules.

923
00:46:54,840 --> 00:46:58,280
Speaker 1: Yeah, I know you're shocked to hear this, but Trump's EPA,

924
00:46:58,719 --> 00:47:03,080
Speaker 1: run by Liezelde, one of the dumber people in America,

925
00:47:03,200 --> 00:47:06,600
Speaker 1: has put the value of human life is zero. That's

926
00:47:06,680 --> 00:47:10,640
Speaker 1: the number. There's no value because they were never about

927
00:47:10,640 --> 00:47:15,520
Speaker 1: cutting pollution. If anything, they are about polluting. And none

928
00:47:15,600 --> 00:47:19,440
Speaker 1: of this is surprising, but it's still really as someone

929
00:47:19,440 --> 00:47:21,880
Speaker 1: who has just been covering this for so long, it

930
00:47:22,040 --> 00:47:29,360
Speaker 1: is so so so depressing and so so so unsurprising.

931
00:47:29,840 --> 00:47:33,520
Speaker 1: And here we are. This is what trump Ism is

932
00:47:33,920 --> 00:47:38,879
Speaker 1: the worst case scenario. Yet again, that's it for this

933
00:47:39,000 --> 00:47:45,400
Speaker 1: episode of Fast Politics. Tune in every Monday, Wednesday, Thursday

934
00:47:45,560 --> 00:47:49,480
Speaker 1: and Saturday to hear the best minds and politics make

935
00:47:49,640 --> 00:47:53,600
Speaker 1: sense of all this chaos. If you enjoy this podcast,

936
00:47:54,000 --> 00:47:57,400
Speaker 1: please send it to a friend and keep the conversation going.

937
00:47:57,880 --> 00:47:59,040
Speaker 1: Thanks for listening.