1 00:00:00,120 --> 00:00:00,840 Speaker 1: Thirty seconds up. 2 00:00:00,880 --> 00:00:02,800 Speaker 2: But I do want to ask you about the response 3 00:00:02,840 --> 00:00:05,400 Speaker 2: you're hearing from your fellow journalists with Trump in the 4 00:00:05,400 --> 00:00:09,320 Speaker 2: White House now dictating which journalists can access Donald Trump. 5 00:00:10,680 --> 00:00:12,000 Speaker 3: Yeah, look, this is a big deal. 6 00:00:12,039 --> 00:00:13,920 Speaker 4: I understand that a lot of Americans probably don't care 7 00:00:13,960 --> 00:00:16,799 Speaker 4: too much and don't feel sorry for reporters when they should. 8 00:00:16,840 --> 00:00:19,040 Speaker 4: And it's not about us, It's about them in a way, 9 00:00:19,079 --> 00:00:21,079 Speaker 4: because what's happening now is the President United States is 10 00:00:21,120 --> 00:00:24,240 Speaker 4: saying for the first time in generations that he gets. 11 00:00:24,000 --> 00:00:26,119 Speaker 3: To decide who is inside. 12 00:00:25,800 --> 00:00:27,880 Speaker 4: The pool that gets closest to him in terms of 13 00:00:27,920 --> 00:00:31,520 Speaker 4: asking questions. That's never been in my lifetime anyway. I've 14 00:00:31,560 --> 00:00:33,680 Speaker 4: been covering this going back to nineteen ninety six, the 15 00:00:33,720 --> 00:00:37,600 Speaker 4: prerogative president Republican or Democrat. Now he's saying he chooses, 16 00:00:37,680 --> 00:00:40,040 Speaker 4: and if he doesn't like your coverage, they've made very 17 00:00:40,040 --> 00:00:43,400 Speaker 4: clear and barring the Associated Press, you could be expelled. 18 00:00:43,000 --> 00:00:43,600 Speaker 3: From that pool. 19 00:00:43,600 --> 00:00:47,120 Speaker 4: So now we have a government organized, government run, government 20 00:00:47,159 --> 00:00:50,920 Speaker 4: controlled press pool, and that's an issue of great concern, 21 00:00:51,040 --> 00:00:53,960 Speaker 4: not just to mainstream publications, but to publications on the 22 00:00:54,040 --> 00:00:56,920 Speaker 4: left and right, which have a lot of steak as well. 23 00:00:57,640 --> 00:01:00,760 Speaker 2: It is very concerning and you know, again, what more 24 00:01:00,800 --> 00:01:04,640 Speaker 2: indication of where this administration under Trump's leadership, wants to head. 25 00:01:04,760 --> 00:01:06,760 Speaker 5: He just talked about how important the work that Elon 26 00:01:06,880 --> 00:01:09,759 Speaker 5: Musk is doing is. If you pass a continuing resolution, 27 00:01:09,840 --> 00:01:12,199 Speaker 5: won't that just refund all the programs that he says 28 00:01:12,200 --> 00:01:14,760 Speaker 5: he's cutting that are full of waste, broaden abuse. 29 00:01:15,680 --> 00:01:15,760 Speaker 2: No. 30 00:01:15,920 --> 00:01:19,000 Speaker 6: Look, that's why I say you add anomalies to a CR. 31 00:01:19,160 --> 00:01:21,520 Speaker 6: You can increase some spinning, you can decrease some spinning. 32 00:01:21,600 --> 00:01:25,040 Speaker 6: You can add language that says, for example, the dramatic 33 00:01:25,120 --> 00:01:28,160 Speaker 6: changes that have been made to USAID would be reflected 34 00:01:28,280 --> 00:01:31,560 Speaker 6: in the ongoing spending. It would be a clean CR mostly, 35 00:01:31,640 --> 00:01:35,040 Speaker 6: I think, but with some of those changes to adapt 36 00:01:35,080 --> 00:01:37,400 Speaker 6: to the new realities here. And the new reality is 37 00:01:37,920 --> 00:01:41,959 Speaker 6: less government, more efficiency, a better return for the taxpayers. 38 00:01:42,000 --> 00:01:43,759 Speaker 6: And I think that's something everybody should welcome. 39 00:01:46,480 --> 00:01:50,880 Speaker 7: This is the primal screen of a dying lergy. 40 00:01:51,400 --> 00:01:54,640 Speaker 8: Pray for our enemies, because we're going to medieval on 41 00:01:54,680 --> 00:01:58,520 Speaker 8: these people. You've got a free shot, all these networks 42 00:01:58,640 --> 00:02:00,639 Speaker 8: lying of the people. 43 00:02:00,720 --> 00:02:02,760 Speaker 1: The people have had a belly full of it. I 44 00:02:02,760 --> 00:02:04,640 Speaker 1: know you don't like hearing that. I know you've tried 45 00:02:04,640 --> 00:02:05,880 Speaker 1: to do everything in the world to stop there. But 46 00:02:05,920 --> 00:02:07,880 Speaker 1: you're not going to stop it. It's going to happen. 47 00:02:08,000 --> 00:02:10,200 Speaker 9: And where do people like that go to share the 48 00:02:10,200 --> 00:02:14,640 Speaker 9: big line mega media. I wish in my soul, I 49 00:02:14,720 --> 00:02:17,560 Speaker 9: wish that any of these people had a conscience. 50 00:02:18,240 --> 00:02:21,440 Speaker 8: Ask yourself, what is my task and what is my purpose? 51 00:02:22,080 --> 00:02:26,280 Speaker 7: If that answer is to save my country, this country 52 00:02:26,520 --> 00:02:28,200 Speaker 7: will be saved. 53 00:02:28,280 --> 00:02:30,440 Speaker 10: War Room, use your host. 54 00:02:30,440 --> 00:02:31,000 Speaker 1: Stephen K. 55 00:02:31,240 --> 00:02:38,920 Speaker 8: Bat Thursday, twenty seven, February, year of Earl Er twenty 56 00:02:38,960 --> 00:02:39,520 Speaker 8: twenty five. 57 00:02:39,680 --> 00:02:41,160 Speaker 1: You were in the war room. 58 00:02:41,480 --> 00:02:43,000 Speaker 8: A lot going on in the White House, a day 59 00:02:43,040 --> 00:02:46,520 Speaker 8: on Capitol Hill, throughout the country. President Trump just put 60 00:02:46,560 --> 00:02:49,600 Speaker 8: out a true social talking about the terriffs. Are going 61 00:02:49,639 --> 00:02:53,240 Speaker 8: to come next week to Mexico and Canada, specifically, talked 62 00:02:53,520 --> 00:02:57,720 Speaker 8: in Mexico about the fentanyl, about the war with the cartels, 63 00:02:58,080 --> 00:03:00,880 Speaker 8: all of it. Big another big d the White Hose day, 64 00:03:00,919 --> 00:03:05,720 Speaker 8: Sir Kiir Starmer, the Prime Minister of the United Kingdom, 65 00:03:06,720 --> 00:03:11,079 Speaker 8: arrives and there'll be a lot of talk about the NATO, 66 00:03:11,200 --> 00:03:13,919 Speaker 8: a lot to talk about the following visit the next 67 00:03:14,000 --> 00:03:18,320 Speaker 8: day Ukraine, the Ukrainian War, particularly bringing peace to that 68 00:03:18,400 --> 00:03:21,480 Speaker 8: part of the world. Also the Rapprochman of the United 69 00:03:21,520 --> 00:03:24,760 Speaker 8: States and Russia, all of its president I think is 70 00:03:24,760 --> 00:03:29,000 Speaker 8: also going to sund some executive orders for another packed day. 71 00:03:30,240 --> 00:03:31,680 Speaker 1: Brian Glenn joins us. 72 00:03:31,960 --> 00:03:34,320 Speaker 8: Brian, you're up at the You spent the part of 73 00:03:34,320 --> 00:03:38,120 Speaker 8: the day on Capitol Hill obviously, and I'll get back. 74 00:03:38,120 --> 00:03:41,520 Speaker 8: But in a second he saw Kaitlin Collins and Speaker 75 00:03:41,600 --> 00:03:45,240 Speaker 8: Johnson finally talking about what Warroom has been talking about 76 00:03:45,280 --> 00:03:48,960 Speaker 8: for months, the fourteen March deadline. In this end of years, 77 00:03:49,000 --> 00:03:52,400 Speaker 8: cr will drill down more in a second, Brian, the 78 00:03:52,440 --> 00:03:57,120 Speaker 8: schedule of events today, Sir kir in the British come 79 00:03:57,160 --> 00:03:58,880 Speaker 8: in the afternoon, walk us through what's going on at 80 00:03:58,920 --> 00:03:59,440 Speaker 8: the White House. 81 00:04:01,320 --> 00:04:02,480 Speaker 1: Yeah, good morning, Steve. 82 00:04:02,600 --> 00:04:06,880 Speaker 7: A little bit later this morning, Starmer and in the 83 00:04:06,880 --> 00:04:09,960 Speaker 7: press from the UK will make their arrival here just 84 00:04:10,000 --> 00:04:13,440 Speaker 7: outside the West Wing. They'll meet briefly with the President, 85 00:04:13,800 --> 00:04:16,480 Speaker 7: and then at about twelve twenty they'll have a bilateral 86 00:04:17,080 --> 00:04:19,400 Speaker 7: meeting in the Oval Office, and then a little bit 87 00:04:19,480 --> 00:04:21,840 Speaker 7: later at two o'clock they'll have a much bigger press 88 00:04:21,920 --> 00:04:25,640 Speaker 7: conference in the East Room. And from what I understand, 89 00:04:25,720 --> 00:04:29,480 Speaker 7: a lot of the focus Steve is on Ukraine, and 90 00:04:29,960 --> 00:04:33,240 Speaker 7: obviously Stamer is very much for US support as far 91 00:04:33,279 --> 00:04:38,360 Speaker 7: as providing security aid after the cease fire, if you will, 92 00:04:38,839 --> 00:04:42,640 Speaker 7: the ending of this war, and of course President Trump 93 00:04:42,640 --> 00:04:45,400 Speaker 7: has not guaranteed that, and of course they'll talk about 94 00:04:45,400 --> 00:04:48,120 Speaker 7: mineral rights and all kinds of stuff, maybe even tariffs, 95 00:04:48,560 --> 00:04:51,560 Speaker 7: as that seems to be hitting the headlines this morning. 96 00:04:51,640 --> 00:04:53,039 Speaker 1: So it'll be a busy day here. 97 00:04:53,480 --> 00:04:56,800 Speaker 7: And you know what, Steve were thirty eight forty days 98 00:04:56,800 --> 00:04:59,960 Speaker 7: in this administration and we've seen just what everyone has. 99 00:05:00,000 --> 00:05:01,280 Speaker 1: It's the state come through here. 100 00:05:01,279 --> 00:05:04,000 Speaker 8: Well, Cirkire is going to be there for number one. 101 00:05:04,080 --> 00:05:08,640 Speaker 8: He's committed thirty I think thirty thousand combat troops or 102 00:05:09,000 --> 00:05:13,040 Speaker 8: to a peacekeeping force that's essentially three roughly three divisions. 103 00:05:13,040 --> 00:05:15,000 Speaker 8: The British don't have it, they don't have the finances 104 00:05:15,000 --> 00:05:17,520 Speaker 8: to underwrite it, they don't really have the troops to 105 00:05:17,600 --> 00:05:20,159 Speaker 8: do that. So he's a lot of big talk, just 106 00:05:20,200 --> 00:05:22,640 Speaker 8: like Boris Johnson was. The British have been big talkers 107 00:05:23,480 --> 00:05:25,440 Speaker 8: in this Ukraine war, and it's one of the reasons 108 00:05:25,480 --> 00:05:29,480 Speaker 8: such terrible destruction. President Trump's pretty adamant about the mineral 109 00:05:29,520 --> 00:05:32,839 Speaker 8: deal tomorrow. There's no American security guarantee. This is absolutely central. 110 00:05:32,880 --> 00:05:35,400 Speaker 1: If you look at the deal. There's no American investment. 111 00:05:36,400 --> 00:05:38,279 Speaker 8: There may be some companies come over there, but no 112 00:05:38,480 --> 00:05:42,360 Speaker 8: US government direct investment and no security guarantee. 113 00:05:42,440 --> 00:05:43,919 Speaker 1: Circure you one hundred percent correct. 114 00:05:43,920 --> 00:05:45,600 Speaker 8: Brian is going to be there to try, just like 115 00:05:45,680 --> 00:05:49,000 Speaker 8: Macron the other day, as Macrone tried to confuse the situation, 116 00:05:49,200 --> 00:05:51,400 Speaker 8: try to talk President Trump into being part of some 117 00:05:51,480 --> 00:05:57,600 Speaker 8: peacekeeping force or backup President Trump's response yesterday, Brian, as 118 00:05:57,640 --> 00:06:01,240 Speaker 8: you know, was saying, hey, if companies are over there, 119 00:06:01,760 --> 00:06:05,560 Speaker 8: that'll be a security guarantee enough, kind of implied the 120 00:06:05,640 --> 00:06:07,760 Speaker 8: US would step in there was any problem. So those 121 00:06:07,760 --> 00:06:10,279 Speaker 8: are all huge issues in the cabinet room. Yesterday he 122 00:06:10,320 --> 00:06:13,960 Speaker 8: threw down that the EU, which the British broke off 123 00:06:14,160 --> 00:06:16,719 Speaker 8: with from Brexity. He says the EU was set up 124 00:06:17,200 --> 00:06:19,600 Speaker 8: to challenge the United States, to cause problems for the 125 00:06:19,680 --> 00:06:21,640 Speaker 8: United States. And he says, listen, I'm thinking about a 126 00:06:21,640 --> 00:06:24,280 Speaker 8: twenty five percent tariff on all the goods that. 127 00:06:24,240 --> 00:06:28,599 Speaker 1: Come from the EU. That would obviously great. Britain's not 128 00:06:28,640 --> 00:06:29,080 Speaker 1: part of that. 129 00:06:29,240 --> 00:06:32,880 Speaker 8: But President Trump reiterated this morning Brian on a true 130 00:06:32,920 --> 00:06:36,120 Speaker 8: social that and I think next Tuesdays when he's going 131 00:06:36,160 --> 00:06:37,919 Speaker 8: to do the State of the Union also or the 132 00:06:37,960 --> 00:06:40,360 Speaker 8: first time is kind of the update on where the 133 00:06:40,400 --> 00:06:43,360 Speaker 8: country is not officially a state of the Union. But 134 00:06:44,480 --> 00:06:47,200 Speaker 8: President Trump said, hey, unless Mexico steps up to the plate, 135 00:06:47,279 --> 00:06:49,880 Speaker 8: that twenty five percent tariffs are going in and he's 136 00:06:49,920 --> 00:06:52,040 Speaker 8: not happy where discussions with Canada are going. 137 00:06:52,320 --> 00:06:53,520 Speaker 1: Any thoughts on that, sir. 138 00:06:55,279 --> 00:06:58,240 Speaker 7: Yeah, No, you're right. And you know, I think's he's 139 00:06:58,400 --> 00:07:03,200 Speaker 7: playing once again leadership. He's not threatening. He's just saying, hey, look, 140 00:07:03,240 --> 00:07:05,479 Speaker 7: this is what's going to happen. And also, you could 141 00:07:05,480 --> 00:07:08,159 Speaker 7: add ten percent on top of that. Steve to China, 142 00:07:08,200 --> 00:07:12,000 Speaker 7: he's you can impose an additional ten percent of already 143 00:07:12,320 --> 00:07:14,880 Speaker 7: the ten percent on China. So I do want to 144 00:07:15,040 --> 00:07:18,240 Speaker 7: make a mention, Zelensky. We'll be here tomorrow, so that 145 00:07:18,360 --> 00:07:21,160 Speaker 7: should be interesting. We'll see as he comes at the 146 00:07:21,240 --> 00:07:23,679 Speaker 7: end of the week. Does he sign the minerals deal, 147 00:07:23,760 --> 00:07:26,200 Speaker 7: do we get that done? What the talks look like 148 00:07:26,280 --> 00:07:31,240 Speaker 7: after today when when he leaves, so much at this 149 00:07:31,280 --> 00:07:32,760 Speaker 7: White House, so much going on. 150 00:07:34,320 --> 00:07:38,320 Speaker 8: I hope, Brian, you know the President pretty well. He's 151 00:07:38,360 --> 00:07:40,320 Speaker 8: a great deal guy. He says, Hey, he lives for deals. 152 00:07:40,320 --> 00:07:42,720 Speaker 8: He's done deals all his life. I hope a conditioned 153 00:07:42,760 --> 00:07:47,040 Speaker 8: precedent for Zelensky being allowed in the United States is 154 00:07:47,080 --> 00:07:48,280 Speaker 8: that the deal is either. 155 00:07:48,080 --> 00:07:49,080 Speaker 1: Signed or going to be signed. 156 00:07:49,120 --> 00:07:50,760 Speaker 8: I hope it's no happy talk and he's going to 157 00:07:50,800 --> 00:07:52,720 Speaker 8: try to pull which he's already trying to pull a 158 00:07:52,760 --> 00:07:56,440 Speaker 8: bunch of other conditions. But I think Zelensky's here should 159 00:07:56,560 --> 00:07:58,880 Speaker 8: conserve himself, be lucky to be here, as we're no fan, 160 00:07:59,000 --> 00:08:01,680 Speaker 8: and I would considered it tomorrow he signs this deal, 161 00:08:01,720 --> 00:08:02,960 Speaker 8: it's ritual humiliation. 162 00:08:03,200 --> 00:08:07,960 Speaker 1: Let's say, Brian, you're you're so, sir. 163 00:08:08,680 --> 00:08:12,840 Speaker 8: Sircure shows up right afternoon, Real America's voice be covered alive. 164 00:08:12,880 --> 00:08:16,400 Speaker 8: As you know, we wait for the the the dignitaries 165 00:08:16,400 --> 00:08:17,920 Speaker 8: to show up on the West wing. There'll be your 166 00:08:17,960 --> 00:08:20,880 Speaker 8: color guard secure be there. It looks like twelve twenty 167 00:08:21,640 --> 00:08:24,080 Speaker 8: some sort of bilateral meeting called a bilat in the 168 00:08:24,120 --> 00:08:26,400 Speaker 8: Oval Office. I'm sure the press the President will make 169 00:08:26,440 --> 00:08:30,640 Speaker 8: time for a press avail today. Brian, if you're in there, 170 00:08:30,680 --> 00:08:33,480 Speaker 8: I know you're tossing question. Then later at two o'clock 171 00:08:34,200 --> 00:08:36,960 Speaker 8: there'll be a joint press conference. So this is a 172 00:08:37,040 --> 00:08:40,840 Speaker 8: relatively short meeting as they've got it. I think the Presidence, 173 00:08:40,880 --> 00:08:43,160 Speaker 8: I'm not saying he's doing this at a courtesy, but 174 00:08:43,200 --> 00:08:45,840 Speaker 8: he's kind of heard these pitches before. He wants to, 175 00:08:45,880 --> 00:08:48,480 Speaker 8: you know, re establish we are they are are you 176 00:08:48,480 --> 00:08:51,200 Speaker 8: know we have a special relationship and uh and next 177 00:08:51,240 --> 00:08:55,320 Speaker 8: to France or one of our oldest allies and obviously 178 00:08:55,400 --> 00:08:56,920 Speaker 8: most important I was in the twentieth century. 179 00:08:56,960 --> 00:08:59,160 Speaker 1: But it's going to be looks like a relatively quick meeting. 180 00:08:59,160 --> 00:09:02,400 Speaker 8: I think we'll get plenty of access to the president 181 00:09:02,400 --> 00:09:05,240 Speaker 8: of to Day and Brian Glenn. We hope you keep 182 00:09:05,280 --> 00:09:08,520 Speaker 8: your streak running that you're the first guy called, your 183 00:09:08,520 --> 00:09:09,719 Speaker 8: first person called. 184 00:09:09,480 --> 00:09:10,760 Speaker 1: In the in the east room. 185 00:09:11,040 --> 00:09:13,720 Speaker 8: Just hey, I'm not you know you're on Demaggio streaks 186 00:09:13,720 --> 00:09:15,559 Speaker 8: and not that we're counting, not that we're noticing. 187 00:09:15,800 --> 00:09:18,160 Speaker 1: Right, somebody get robstick on the fence. 188 00:09:18,400 --> 00:09:21,000 Speaker 7: There's no both about this press cone. And there's no 189 00:09:21,080 --> 00:09:23,720 Speaker 7: better Vegas on that. There's no there's no prop line. 190 00:09:23,720 --> 00:09:25,600 Speaker 7: There's no prop line in Vegas on that as well. 191 00:09:26,760 --> 00:09:28,960 Speaker 7: But I will say yeah, but the Oval Office that 192 00:09:28,960 --> 00:09:31,480 Speaker 7: that meeting is only scheduled for about twenty minutes before 193 00:09:31,520 --> 00:09:33,360 Speaker 7: they break. I think they're gonna have lunch and then 194 00:09:33,520 --> 00:09:35,959 Speaker 7: later meet at two o'clock. Now two o'clock out to 195 00:09:36,040 --> 00:09:38,560 Speaker 7: be pretty good. I love those press conferences. He'll go 196 00:09:38,640 --> 00:09:41,079 Speaker 7: for probably an hour in the East room, as he 197 00:09:41,160 --> 00:09:44,600 Speaker 7: normally does. But uh, you know, it's interesting to think 198 00:09:44,920 --> 00:09:46,480 Speaker 7: the world leaders, Brian, I love. 199 00:09:46,360 --> 00:09:46,760 Speaker 1: Both of them. 200 00:09:46,800 --> 00:09:48,960 Speaker 8: I love the press. I love the press of als in. 201 00:09:49,120 --> 00:09:51,000 Speaker 8: I love the press of als in the Oval. I 202 00:09:51,040 --> 00:09:52,920 Speaker 8: love the in the cabinet. And this is why I 203 00:09:52,920 --> 00:09:55,280 Speaker 8: played Peter Baker The New York Times is the start 204 00:09:56,160 --> 00:09:58,240 Speaker 8: we can't reinforce. How important is when you see the 205 00:09:58,240 --> 00:10:00,520 Speaker 8: cabinet room yesterday, the President going to a with over 206 00:10:00,559 --> 00:10:03,000 Speaker 8: an hour twenty. You see the different types of reporters there. 207 00:10:03,040 --> 00:10:05,440 Speaker 8: You see the press aveil. Hopefully it will take place 208 00:10:05,480 --> 00:10:08,439 Speaker 8: in the Oval today. That press pool is now not 209 00:10:08,520 --> 00:10:12,080 Speaker 8: just a mainstream media that's attack attack, attack, attack, attack. 210 00:10:11,800 --> 00:10:14,360 Speaker 1: Give misinformation. Now it's been opened up. 211 00:10:14,400 --> 00:10:16,959 Speaker 8: You got Newsmax, you got Real America's Voice, you got 212 00:10:16,960 --> 00:10:21,320 Speaker 8: the war Room. You've got you know Daily Signal, the Blaze, 213 00:10:21,360 --> 00:10:22,239 Speaker 8: Bright bart. 214 00:10:22,000 --> 00:10:23,200 Speaker 1: All, you know, Daily Caller. 215 00:10:23,320 --> 00:10:26,920 Speaker 8: So it's opened up many to the pod to the podcasters. Ever, 216 00:10:27,080 --> 00:10:29,880 Speaker 8: I think it's it's it's it's a breath of fresh air, 217 00:10:30,440 --> 00:10:34,200 Speaker 8: better questions, sharper questions and questions of people that are 218 00:10:34,200 --> 00:10:37,760 Speaker 8: trying to extract from President Trump information on what's happening, 219 00:10:37,800 --> 00:10:40,000 Speaker 8: not just a snarky attacks. 220 00:10:40,000 --> 00:10:41,440 Speaker 1: And I think it's just been fantastic. 221 00:10:41,480 --> 00:10:46,640 Speaker 7: Sir, Well, if I sent Cameron a video that maybe 222 00:10:46,720 --> 00:10:49,000 Speaker 7: in the break you guys can ingest and take a 223 00:10:49,040 --> 00:10:52,680 Speaker 7: look at that is the head of the w HCA 224 00:10:52,960 --> 00:10:56,360 Speaker 7: on MSNBC. Now he's a new host on that MSNBC 225 00:10:56,640 --> 00:10:59,719 Speaker 7: left Politico. You should play that, and that sets the 226 00:10:59,800 --> 00:11:01,520 Speaker 7: top of the why. 227 00:11:02,160 --> 00:11:03,000 Speaker 1: I think Karen. 228 00:11:02,880 --> 00:11:06,560 Speaker 7: Levitt made the excellent idea and the decision to remove 229 00:11:06,600 --> 00:11:07,760 Speaker 7: their authority. 230 00:11:07,280 --> 00:11:08,079 Speaker 1: In that briefing room. 231 00:11:08,120 --> 00:11:12,040 Speaker 7: It's it's it's comical what this gentleman does. 232 00:11:12,120 --> 00:11:13,720 Speaker 1: He him is sound. Let's play. 233 00:11:13,720 --> 00:11:15,040 Speaker 8: I'll let you guys look at it and the brain 234 00:11:15,280 --> 00:11:18,760 Speaker 8: hold hold it, Brian, since you've done some producing here today, 235 00:11:18,760 --> 00:11:19,080 Speaker 8: it's great. 236 00:11:19,120 --> 00:11:20,920 Speaker 1: Let's go and play the clip and have Brian comment. 237 00:11:21,640 --> 00:11:25,040 Speaker 11: It has a hard time running against Vice President Harris 238 00:11:25,280 --> 00:11:28,160 Speaker 11: because she's a black woman. You were remember actually when 239 00:11:28,760 --> 00:11:33,080 Speaker 11: he would tussle with the women that would ask him questions, 240 00:11:33,160 --> 00:11:36,240 Speaker 11: our colleagues on the White House, speed, the reporters. You know, 241 00:11:36,480 --> 00:11:40,200 Speaker 11: he held his kind of most angry self for black women, 242 00:11:40,400 --> 00:11:42,480 Speaker 11: right if they asked him a question he would have 243 00:11:42,640 --> 00:11:44,120 Speaker 11: the worst things to say about them. 244 00:11:44,400 --> 00:11:45,640 Speaker 3: So you're seeing that right when. 245 00:11:46,280 --> 00:11:50,600 Speaker 11: The time and when he talked about Joe Biden got worse, 246 00:11:51,080 --> 00:11:53,559 Speaker 11: Harris was born like that, Right, that's different. That's a 247 00:11:53,640 --> 00:11:56,120 Speaker 11: dog whistle to folks to say, you know, the white 248 00:11:56,160 --> 00:11:57,760 Speaker 11: guy just got older and it got worse, but the 249 00:11:57,800 --> 00:11:59,719 Speaker 11: black lady was born dumb. That is the kind of 250 00:11:59,800 --> 00:12:01,280 Speaker 11: thing that Donald Trump is saying. 251 00:12:01,320 --> 00:12:02,360 Speaker 10: It's selling the folk. 252 00:12:04,160 --> 00:12:07,600 Speaker 8: Man. That hate coming right out there, Brian Glenn, they 253 00:12:07,720 --> 00:12:10,040 Speaker 8: can't control it, that hate coming out. 254 00:12:10,120 --> 00:12:13,439 Speaker 1: That's your White House. But he's a new host on MSNBC. 255 00:12:14,520 --> 00:12:16,520 Speaker 8: I'm pretty sure he's going to join the weekend crowd 256 00:12:16,600 --> 00:12:18,920 Speaker 8: and take over the kind of go ahead. 257 00:12:20,200 --> 00:12:22,839 Speaker 7: Well, I'm gonna say, maybe he's boy read now. I 258 00:12:22,920 --> 00:12:25,360 Speaker 7: don't know, maybe they've replaced him a little bit for 259 00:12:25,520 --> 00:12:29,000 Speaker 7: Joy Reid. We'll do boy read on that, and you know, 260 00:12:29,120 --> 00:12:31,960 Speaker 7: we'll see how long that show lasts. No one's watching that. 261 00:12:32,120 --> 00:12:34,040 Speaker 8: You know, he's one of the senior guys. He's one 262 00:12:34,040 --> 00:12:36,040 Speaker 8: of the senior guys from political but no but no 263 00:12:36,160 --> 00:12:40,080 Speaker 8: fan of President Trump. So that's exactly the white senior 264 00:12:40,120 --> 00:12:42,280 Speaker 8: White House. I think for political things are gonna get 265 00:12:42,280 --> 00:12:45,600 Speaker 8: a new Job new show on MSNBC. So it'll be uh, 266 00:12:46,520 --> 00:12:49,480 Speaker 8: it'll be pretty amazing. Brian Glenn anything else, So a 267 00:12:49,520 --> 00:12:52,719 Speaker 8: big packed afternoon. Brian Glenn will be there. Natalie will 268 00:12:52,720 --> 00:12:54,920 Speaker 8: be back here at five Todays. She's gonna be reporting 269 00:12:55,000 --> 00:12:57,360 Speaker 8: live from the White House. We'll get it all from her. 270 00:12:57,559 --> 00:13:00,720 Speaker 8: Brian Glenn duract throughout the day. Brian, what's social media? 271 00:13:02,480 --> 00:13:05,360 Speaker 7: Yep, hit me up at Brian on True Social at 272 00:13:05,440 --> 00:13:09,360 Speaker 7: Brian Glenn TV on Instagram and x and as always, 273 00:13:09,720 --> 00:13:10,800 Speaker 7: thanks for having me on Stable. 274 00:13:10,880 --> 00:13:15,520 Speaker 1: See you back here later probably tomorrow. Thank you, brother, 275 00:13:15,559 --> 00:13:16,079 Speaker 1: appreciate you. 276 00:13:17,559 --> 00:13:21,079 Speaker 8: And Tony the financial numbers, economic numbers came out, job 277 00:13:21,200 --> 00:13:22,000 Speaker 8: numbers came out day. 278 00:13:22,040 --> 00:13:23,200 Speaker 1: I asked EJ and Tony. 279 00:13:23,240 --> 00:13:28,240 Speaker 8: But I'm going to replay the Caitlin Collins Finally CNN. 280 00:13:28,000 --> 00:13:29,559 Speaker 1: Woke up to the fact of the CR. 281 00:13:31,640 --> 00:13:35,599 Speaker 8: Speaker of the House Johnson a very interesting response on 282 00:13:35,679 --> 00:13:37,319 Speaker 8: some of the inside baseball that's going on. 283 00:13:37,520 --> 00:13:40,960 Speaker 1: Will break all of that down next in the war room. 284 00:13:41,320 --> 00:13:44,199 Speaker 8: Like I said, active day on Capitol Hill, Active day 285 00:13:45,400 --> 00:13:46,880 Speaker 8: at the White House on Capitol Hill. 286 00:13:46,920 --> 00:13:50,600 Speaker 1: I hope they are now focused on the work at hand, 287 00:13:50,640 --> 00:13:51,640 Speaker 1: and that is a CR. 288 00:13:52,640 --> 00:13:54,679 Speaker 8: I've noticed kind of a sea change here in the 289 00:13:54,760 --> 00:13:57,440 Speaker 8: last I don't know, twenty four hours and people realize, hey, 290 00:13:57,520 --> 00:13:59,520 Speaker 8: there's a big fight right now. Is that keep the 291 00:13:59,559 --> 00:14:02,600 Speaker 8: government President Trump's government open? How are you actually going 292 00:14:02,679 --> 00:14:06,000 Speaker 8: to do that? Because people are not enamored with the 293 00:14:06,120 --> 00:14:07,480 Speaker 8: end of the year ce are, but there may be 294 00:14:07,600 --> 00:14:10,640 Speaker 8: reasons for that. The White House, I think is organizing 295 00:14:11,320 --> 00:14:12,920 Speaker 8: their strategy to focus on that. 296 00:14:13,040 --> 00:14:13,160 Speaker 12: Now. 297 00:14:13,200 --> 00:14:16,080 Speaker 1: They got this budget resolution done for the. 298 00:14:16,800 --> 00:14:20,240 Speaker 8: Budget resolution for the reconciliation, which is really about the taxes, 299 00:14:20,320 --> 00:14:23,000 Speaker 8: and we'll talk more about that. A j Antony's going 300 00:14:23,040 --> 00:14:24,440 Speaker 8: to be here, Jim Rickards is going to be here, 301 00:14:24,560 --> 00:14:27,480 Speaker 8: going to get a lot into geopolitics and capital Marcus. 302 00:14:27,240 --> 00:14:27,880 Speaker 1: President Trump. 303 00:14:28,760 --> 00:14:31,360 Speaker 8: And that's why this week you had France, you had England, 304 00:14:31,480 --> 00:14:38,280 Speaker 8: and you've got and you've got Zelensky Tomorrow birch Gold 305 00:14:38,320 --> 00:14:43,240 Speaker 8: dot com. Take your phone out birch Gold, Text Bannon eight. 306 00:14:43,760 --> 00:14:46,600 Speaker 8: Get the ultimate guide to investing in gold and precious 307 00:14:46,800 --> 00:14:49,360 Speaker 8: Metals in the Age of Trump. The Air of Trump, 308 00:14:50,120 --> 00:14:54,160 Speaker 8: totally free, available to you today from the good offices 309 00:14:54,200 --> 00:14:54,760 Speaker 8: of Birch Gold. 310 00:14:54,840 --> 00:14:56,280 Speaker 1: Short break back in a moment. 311 00:15:00,080 --> 00:15:00,800 Speaker 10: Use your host. 312 00:15:01,080 --> 00:15:07,200 Speaker 1: Stephen came back. Okay, fights on many fronts. 313 00:15:07,200 --> 00:15:09,000 Speaker 8: We're gonna get to the economics in a second, but 314 00:15:09,120 --> 00:15:11,600 Speaker 8: the legal and particularly the federal courts are huge to 315 00:15:11,680 --> 00:15:15,200 Speaker 8: bring in Josh Hammer. Josh and if denmar can put up, 316 00:15:15,480 --> 00:15:18,400 Speaker 8: you put up a tweet last night that had attached 317 00:15:19,080 --> 00:15:22,520 Speaker 8: a I guess a ruling our declaration from the Chief 318 00:15:22,760 --> 00:15:24,560 Speaker 8: Justice walk us through. 319 00:15:25,080 --> 00:15:27,800 Speaker 1: Can you read that your tweet? What do you say? 320 00:15:28,160 --> 00:15:29,680 Speaker 1: What do you mean? And why is this. 321 00:15:29,760 --> 00:15:32,200 Speaker 8: Important in this overall fight for President Trump to give 322 00:15:32,200 --> 00:15:33,720 Speaker 8: his agenda implement it. 323 00:15:35,120 --> 00:15:36,640 Speaker 10: Yeah, Steve's so great to be back with you. 324 00:15:36,720 --> 00:15:40,880 Speaker 12: First of all, so last night Chief Justice John Roberts 325 00:15:41,040 --> 00:15:44,400 Speaker 12: of the United States Supreme Court basically stepped in for 326 00:15:44,840 --> 00:15:46,840 Speaker 12: the first time, from what I can tell, to finally 327 00:15:46,960 --> 00:15:49,840 Speaker 12: swap down one of these lower court judicial insurrectionists who 328 00:15:49,920 --> 00:15:52,080 Speaker 12: was trying to bring the entirety of the Trump administration 329 00:15:52,160 --> 00:15:53,880 Speaker 12: to a halt. So what I put on X was, 330 00:15:53,920 --> 00:15:58,880 Speaker 12: I said, Chief Justice Roberts to lower court judicial insurrection faffo, 331 00:15:59,120 --> 00:16:01,000 Speaker 12: which I'm not going to say a bad word on 332 00:16:01,040 --> 00:16:03,480 Speaker 12: AIRCT but f around find out that's basically what it's 333 00:16:03,480 --> 00:16:05,480 Speaker 12: saying there. And you know, this is what many of 334 00:16:05,560 --> 00:16:07,480 Speaker 12: us have been calling for for weeks. So let me 335 00:16:07,520 --> 00:16:09,480 Speaker 12: just kind of lay this scene briefly here. You know, 336 00:16:10,520 --> 00:16:13,880 Speaker 12: what we're seeing is not just judicial activism, Steve I 337 00:16:14,040 --> 00:16:15,920 Speaker 12: used the words very carefully there. I mean, this is 338 00:16:15,960 --> 00:16:18,880 Speaker 12: a full on judicial insurrection going back to the very 339 00:16:18,960 --> 00:16:21,480 Speaker 12: first days of this administration and power. By the way, 340 00:16:21,560 --> 00:16:23,360 Speaker 12: those of us with a long enough memory to remember 341 00:16:23,400 --> 00:16:25,760 Speaker 12: the first Trump administration, this is nothing new. So the 342 00:16:25,800 --> 00:16:28,560 Speaker 12: first Trump administration from twenty seventeen to twenty twenty one, 343 00:16:29,040 --> 00:16:31,520 Speaker 12: Phase I, by my count I believe, was sixty five 344 00:16:31,680 --> 00:16:34,560 Speaker 12: so called nationwide injunctions, which by the way, is more 345 00:16:34,600 --> 00:16:36,760 Speaker 12: than the first forty four presidents of the United States 346 00:16:36,840 --> 00:16:38,800 Speaker 12: combined literally in all of American history. 347 00:16:38,840 --> 00:16:39,240 Speaker 10: Face there. 348 00:16:39,520 --> 00:16:43,200 Speaker 12: So they basically picked up in January, just last month, 349 00:16:43,360 --> 00:16:45,200 Speaker 12: as if they hadn't lost a beat over the past 350 00:16:45,240 --> 00:16:45,720 Speaker 12: four years. 351 00:16:45,840 --> 00:16:48,240 Speaker 10: So, whether it's a judge in Washington State or Ohio, 352 00:16:48,360 --> 00:16:49,280 Speaker 10: or Washington, d C. 353 00:16:49,480 --> 00:16:52,880 Speaker 12: Or Florida Hawaii, there the notion that you can issue 354 00:16:53,000 --> 00:16:56,720 Speaker 12: a tro a temporary restraining order and thereby try to 355 00:16:56,840 --> 00:17:01,720 Speaker 12: bring a federal executive branch policy and executive order. It's 356 00:17:01,720 --> 00:17:06,119 Speaker 12: a halfare. It's completely anathema. It's batcraft crazy. That's not 357 00:17:06,200 --> 00:17:09,280 Speaker 12: how the separation of powers works a very fundamental thirty 358 00:17:09,359 --> 00:17:12,840 Speaker 12: five thousand foot altitude of view. The judicial power of 359 00:17:12,920 --> 00:17:16,320 Speaker 12: which Article three, Section one Clause won the Constitution speaks steve, 360 00:17:16,600 --> 00:17:19,200 Speaker 12: is the power to render a judgment in a case 361 00:17:19,440 --> 00:17:23,159 Speaker 12: or controversy, aka, to rule on the parties before you 362 00:17:23,320 --> 00:17:25,920 Speaker 12: in court. The notion that you can then bring the 363 00:17:26,240 --> 00:17:29,639 Speaker 12: entire executive branch to heal well. Thomas Jefferson, for instance, 364 00:17:29,680 --> 00:17:31,920 Speaker 12: he famously described as in an eighteen oh four letter, 365 00:17:31,960 --> 00:17:36,040 Speaker 12: it's Abigail Adams as making the judiciary a despotic branch. 366 00:17:36,400 --> 00:17:38,919 Speaker 12: This is what Abraham Lincoln railed on and on against. 367 00:17:39,240 --> 00:17:41,960 Speaker 12: He famously, in his first inaugural address in March of 368 00:17:42,040 --> 00:17:45,200 Speaker 12: eighteen sixty one, said that the candid citizen must confess 369 00:17:45,520 --> 00:17:49,199 Speaker 12: that he who allows the final decisions and constitutional law 370 00:17:49,320 --> 00:17:52,280 Speaker 12: to be decided by that eminent tribunal. He's referring to 371 00:17:52,320 --> 00:17:54,800 Speaker 12: the Supreme Court, but the judiciary in general. He said 372 00:17:54,840 --> 00:17:57,359 Speaker 12: that that would be to basically allow us to cease 373 00:17:57,440 --> 00:17:58,680 Speaker 12: to be our own rulers. 374 00:17:58,720 --> 00:17:58,920 Speaker 1: There. 375 00:17:59,280 --> 00:18:01,359 Speaker 12: So, this is this is all coming to a halt, 376 00:18:01,760 --> 00:18:04,520 Speaker 12: and it's about time that the Supreme Court finally, finally, 377 00:18:04,600 --> 00:18:07,600 Speaker 12: finally swat away Now this exact case that Chief Justice 378 00:18:07,680 --> 00:18:10,600 Speaker 12: Robert stepped in last night. It's from Washington, d C. 379 00:18:10,720 --> 00:18:12,399 Speaker 12: It's from a district court judge by the name of 380 00:18:12,480 --> 00:18:16,520 Speaker 12: Amir Ali, And the so called temporary restraining order in 381 00:18:16,640 --> 00:18:20,720 Speaker 12: question basically would purport to require the Trump administration to 382 00:18:20,920 --> 00:18:25,119 Speaker 12: continue the slush fund of all foreign contracts and contractors billions, 383 00:18:25,200 --> 00:18:27,640 Speaker 12: billions of dollars when it comes to the State Department 384 00:18:27,760 --> 00:18:28,720 Speaker 12: in USAID. 385 00:18:29,160 --> 00:18:31,280 Speaker 10: The problem, see you, there's a lot of problems here. 386 00:18:31,320 --> 00:18:33,359 Speaker 12: There's all what I just said, But even on these 387 00:18:33,359 --> 00:18:37,000 Speaker 12: specifics here, you can't even issue a temporary restraining order 388 00:18:37,040 --> 00:18:39,360 Speaker 12: when it comes to an executive order in the first place. 389 00:18:39,440 --> 00:18:41,920 Speaker 12: That's actually not how administrative law works. If you want 390 00:18:41,960 --> 00:18:44,480 Speaker 12: to kind of go there, you need a final agency 391 00:18:44,640 --> 00:18:47,119 Speaker 12: action from let's call it the State Department. There. That 392 00:18:47,280 --> 00:18:50,080 Speaker 12: didn't happen here. They're trying to sue just an executive order. 393 00:18:50,160 --> 00:18:53,480 Speaker 12: So it's wrong on the actual substantive underlying law as well. 394 00:18:54,000 --> 00:18:56,200 Speaker 12: But the broader point is the more important ones I think, 395 00:18:56,400 --> 00:18:59,600 Speaker 12: which is I think, I predict and I really hope 396 00:18:59,760 --> 00:19:01,720 Speaker 12: that this is going to be the beginning of a 397 00:19:01,840 --> 00:19:05,119 Speaker 12: more active Scotus, a more active nine justice on the 398 00:19:05,160 --> 00:19:07,399 Speaker 12: Supreme Court that are going to get more involved in 399 00:19:07,560 --> 00:19:11,000 Speaker 12: patrolling and policing this lower court judicial insurrection, which they 400 00:19:11,119 --> 00:19:14,159 Speaker 12: have every power in the world to do. The Supreme 401 00:19:14,160 --> 00:19:16,119 Speaker 12: Court of the United States is the only court in 402 00:19:16,200 --> 00:19:19,920 Speaker 12: the country that is literally established by the Constitution, so 403 00:19:19,960 --> 00:19:22,160 Speaker 12: it's only one that is required. All the other lower 404 00:19:22,200 --> 00:19:25,560 Speaker 12: courts basically just exist at Congress's discretion. There, and it's 405 00:19:25,640 --> 00:19:28,320 Speaker 12: kind of implicit and that understanding there, and that hierarchy 406 00:19:28,359 --> 00:19:31,240 Speaker 12: in that structure that Scotus has the power to swat 407 00:19:31,320 --> 00:19:35,280 Speaker 12: down all of these lower court administrative states, temporary restraining orders, 408 00:19:35,320 --> 00:19:37,960 Speaker 12: preliminary injunctions, whatever legally is they want to call there, 409 00:19:38,280 --> 00:19:40,960 Speaker 12: they can and they must get involved when these lower 410 00:19:41,000 --> 00:19:44,520 Speaker 12: courts exceed their legitimate jurisdiction. The big question, and I'll 411 00:19:44,600 --> 00:19:47,000 Speaker 12: end on this, the big question here is when will 412 00:19:47,040 --> 00:19:50,200 Speaker 12: scotis hear a direct challenge to the entire practice of 413 00:19:50,280 --> 00:19:53,320 Speaker 12: these so called nationwide injunctions. In the first place, these 414 00:19:53,359 --> 00:19:57,240 Speaker 12: so called nationwine junctions are completely unconstitutional. It is not 415 00:19:57,440 --> 00:19:59,720 Speaker 12: part of the judicial power of Article three. It is 416 00:19:59,760 --> 00:20:03,520 Speaker 12: an legitimate remedy there, and it hamstrung the Trump administration 417 00:20:03,640 --> 00:20:05,880 Speaker 12: the first time around. And I fear stee my fear 418 00:20:06,240 --> 00:20:08,720 Speaker 12: is that unless and until scot Is directly weighs in 419 00:20:08,840 --> 00:20:11,400 Speaker 12: on this, and the DOJ the actings listen are generally 420 00:20:11,440 --> 00:20:13,119 Speaker 12: United States, Sarah Harris. You know they can get that 421 00:20:13,240 --> 00:20:16,480 Speaker 12: surpetition nicely teed up, god willing. But unless and until 422 00:20:16,520 --> 00:20:19,720 Speaker 12: scote Is cleanly rules that the lower courts cannot do this, 423 00:20:20,080 --> 00:20:22,800 Speaker 12: they cannot bring the entirety of the executive branch to 424 00:20:22,880 --> 00:20:25,840 Speaker 12: a screeching halt with one puny, little one paragraph order 425 00:20:26,080 --> 00:20:29,120 Speaker 12: in some random judicial chambers out in Hawaii, whatever there. 426 00:20:29,280 --> 00:20:31,760 Speaker 12: Unless and until they do that, we risk letting this 427 00:20:31,880 --> 00:20:33,600 Speaker 12: whole second trumpdministration get away. 428 00:20:33,640 --> 00:20:34,160 Speaker 1: I fear. 429 00:20:37,160 --> 00:20:37,200 Speaker 2: So. 430 00:20:37,359 --> 00:20:39,480 Speaker 8: As we've been looking at this in the legal front 431 00:20:39,720 --> 00:20:43,240 Speaker 8: and particularly in federal courts ur very important. We have 432 00:20:43,320 --> 00:20:45,960 Speaker 8: said that they should go for ex because the front line, 433 00:20:46,400 --> 00:20:49,400 Speaker 8: these radical left wing judges, and you said the beyond activists, 434 00:20:49,440 --> 00:20:52,840 Speaker 8: this is a judicial insurrection. Take your number two princil out, 435 00:20:53,680 --> 00:20:57,200 Speaker 8: because Josh Hammer just gave you the the overall construct 436 00:20:57,600 --> 00:21:02,120 Speaker 8: a judicial insurrection by these frontline federal judges. We've always said, 437 00:21:02,200 --> 00:21:05,240 Speaker 8: expedite a Pellet review and then get on the emergency 438 00:21:05,280 --> 00:21:06,240 Speaker 8: docket immediately. 439 00:21:06,280 --> 00:21:08,679 Speaker 1: Because of the Pellet review, particularly if it's in Washington, 440 00:21:08,720 --> 00:21:08,920 Speaker 1: d C. 441 00:21:09,040 --> 00:21:11,800 Speaker 8: You're going to lose a lot of these appellate courts 442 00:21:11,880 --> 00:21:13,840 Speaker 8: are are just as bad as the frontline judges get 443 00:21:13,880 --> 00:21:17,760 Speaker 8: on the emergency docket for the personnel issue dealing with 444 00:21:17,880 --> 00:21:21,520 Speaker 8: this special council the Supreme Court passed. And that's why 445 00:21:21,600 --> 00:21:23,520 Speaker 8: I was starting to get concerned of Mike Davis and 446 00:21:23,560 --> 00:21:26,399 Speaker 8: your your guy's theory that the Supreme Court is going 447 00:21:26,480 --> 00:21:29,359 Speaker 8: to be the the arbiter of this and uh and 448 00:21:29,960 --> 00:21:32,159 Speaker 8: in that, in that arbitration, that they're going to come 449 00:21:32,200 --> 00:21:35,080 Speaker 8: down on the side of the constitution and the unitary 450 00:21:35,200 --> 00:21:39,280 Speaker 8: theory of the executive which is obviously the intellectual construct 451 00:21:39,320 --> 00:21:42,800 Speaker 8: that the Trump administration is doing. Why why have they 452 00:21:42,800 --> 00:21:45,400 Speaker 8: gotten involved in the slush funds or the money side 453 00:21:45,440 --> 00:21:45,560 Speaker 8: of it. 454 00:21:46,320 --> 00:21:48,120 Speaker 1: Why did why have they avoided taking. 455 00:21:47,920 --> 00:21:50,680 Speaker 8: Any action at least to day to my understanding on 456 00:21:50,800 --> 00:21:51,680 Speaker 8: the personnel side. 457 00:21:53,080 --> 00:21:54,960 Speaker 10: Good question. I don't have a great answer to that. 458 00:21:55,040 --> 00:21:59,600 Speaker 12: Unfortunately, so the Hampton Dellinger litigation, so so Hampton Dellinger, 459 00:22:00,000 --> 00:22:01,760 Speaker 12: you know, the head of the office Special Counsel. Trump 460 00:22:01,840 --> 00:22:05,040 Speaker 12: tries to fire him. On February seventh, the District Court 461 00:22:05,640 --> 00:22:09,119 Speaker 12: issues another one of these tros, these temporary restraining orders 462 00:22:09,200 --> 00:22:12,080 Speaker 12: essentially purporting to mandate that he keep his job on 463 00:22:12,240 --> 00:22:15,680 Speaker 12: February twelfth, and it had a two week expiration date. 464 00:22:15,760 --> 00:22:19,920 Speaker 12: The judge extended that that TRO yesterday because I guess 465 00:22:20,000 --> 00:22:24,200 Speaker 12: nothing matters anymore, frankly, But in those two week interim period, 466 00:22:24,520 --> 00:22:27,040 Speaker 12: both the d C Circuit and the United States Supreme 467 00:22:27,119 --> 00:22:29,480 Speaker 12: Court refused to alter the TRO, so they. 468 00:22:29,400 --> 00:22:30,480 Speaker 10: Did have that opportunity. 469 00:22:30,680 --> 00:22:33,239 Speaker 12: Now, it's worth noting that the DC Circuit ruling, when 470 00:22:33,280 --> 00:22:35,760 Speaker 12: they heard it in that procedural posture, it was over 471 00:22:36,040 --> 00:22:39,119 Speaker 12: a vociferous descent from Judge Greg Katsis, who was an 472 00:22:39,160 --> 00:22:41,520 Speaker 12: excellent Trump nominee on the d C Circuit the first time. 473 00:22:41,600 --> 00:22:44,040 Speaker 12: Rounds will probably be a Scota shortlister this time around 474 00:22:44,080 --> 00:22:47,280 Speaker 12: as well. When it reached the US Supreme Courts this 475 00:22:47,480 --> 00:22:51,880 Speaker 12: past weekend, there were two dissenting votes. Justice Gorsich wrote 476 00:22:51,880 --> 00:22:53,920 Speaker 12: what I thought was a was a compelling descent where 477 00:22:53,920 --> 00:22:56,959 Speaker 12: he basically said that this entire notion of this remedy 478 00:22:57,000 --> 00:22:58,959 Speaker 12: what I was talking about the notion that a district 479 00:22:59,000 --> 00:23:01,800 Speaker 12: court can issue a so called temporary restraining order and 480 00:23:02,000 --> 00:23:05,000 Speaker 12: commanding you, in this case, that you have to rehire 481 00:23:05,080 --> 00:23:06,800 Speaker 12: Hampton Dellinger is nuts. 482 00:23:07,000 --> 00:23:07,840 Speaker 10: It's absolutely nuts. 483 00:23:07,840 --> 00:23:09,840 Speaker 12: So Scotus should have stepped in and it made a 484 00:23:09,920 --> 00:23:12,879 Speaker 12: substantive ruling justice past weekend. But I do think that 485 00:23:13,119 --> 00:23:15,040 Speaker 12: that their hand is going to be forced here sooner 486 00:23:15,200 --> 00:23:17,520 Speaker 12: rather than later. There the good news, and I agree 487 00:23:17,600 --> 00:23:19,560 Speaker 12: with my colleague Mike Davis on this, is that I 488 00:23:19,680 --> 00:23:21,680 Speaker 12: do think that the votes are absolutely there on the 489 00:23:21,760 --> 00:23:25,760 Speaker 12: current Supreme Court to finally uphold unitary executive theory, as 490 00:23:25,800 --> 00:23:27,719 Speaker 12: the left wing media likes to call it, otherwise known 491 00:23:27,760 --> 00:23:30,359 Speaker 12: as just basic common sense. Right, I mean, the Article 492 00:23:30,400 --> 00:23:33,359 Speaker 12: two of the Constitution says the executive the executive power. 493 00:23:35,760 --> 00:23:39,400 Speaker 1: Yeah, I mean just basically the basic constitution, right. 494 00:23:40,040 --> 00:23:40,560 Speaker 10: Yeah, exactly. 495 00:23:40,560 --> 00:23:42,840 Speaker 12: I mean Article two says the executive power shall be 496 00:23:42,960 --> 00:23:44,960 Speaker 12: vested in a president of the United States. It's not 497 00:23:45,119 --> 00:23:47,600 Speaker 12: vested in the vice president, it's not vested in the 498 00:23:47,600 --> 00:23:50,119 Speaker 12: Secretary of State, it's not vested in the dogcatcher, the 499 00:23:50,720 --> 00:23:53,240 Speaker 12: White House, coffee boy, whatever. And now he's vested in 500 00:23:53,320 --> 00:23:56,040 Speaker 12: one person, one person only there and specifically when it 501 00:23:56,080 --> 00:23:57,879 Speaker 12: comes to Hampton Dellinger. By the way, there's a very 502 00:23:57,920 --> 00:24:01,280 Speaker 12: similar parallel track litigation going on right now involving a 503 00:24:01,320 --> 00:24:03,760 Speaker 12: woman by the name of Gwyn Wilcox. Whin Wilcox is 504 00:24:03,800 --> 00:24:07,160 Speaker 12: a Democrat nominee to the NLRB, the National Labor Relations Board. 505 00:24:07,600 --> 00:24:10,640 Speaker 12: She was fired very similar thing here. So, whether we're 506 00:24:10,640 --> 00:24:12,680 Speaker 12: talking about the Office of the Special Council, which is 507 00:24:12,720 --> 00:24:15,640 Speaker 12: where Hampton Dellinger purports to work, or whether we're talking 508 00:24:15,720 --> 00:24:19,040 Speaker 12: about the National Labor Relations Board, where Win Wilcox purports 509 00:24:19,040 --> 00:24:22,520 Speaker 12: to work, we're talking about these so called independent agencies, 510 00:24:22,560 --> 00:24:26,360 Speaker 12: which is the entire creature of FDR era New Deal jurisprudence. 511 00:24:26,640 --> 00:24:28,520 Speaker 10: It's all fabricated, it's all made up. 512 00:24:28,760 --> 00:24:31,760 Speaker 12: And specifically, there's a nineteen thirty five Scotus Presidents called 513 00:24:31,840 --> 00:24:35,119 Speaker 12: Humphrey's Executor, which was the first time that the Supreme 514 00:24:35,200 --> 00:24:39,960 Speaker 12: Court upheld the legitimacy of this there. But I'm pretty confident, Steve. 515 00:24:40,119 --> 00:24:43,359 Speaker 12: I'm typically pessimistic about all things judicial branch related. I'm 516 00:24:43,400 --> 00:24:45,560 Speaker 12: actually optimistic about this one. I really do think that 517 00:24:45,600 --> 00:24:48,080 Speaker 12: there are five votes on the current Court when that 518 00:24:48,200 --> 00:24:51,359 Speaker 12: case is finally heard to directly overturn Humphrey's Executor. I 519 00:24:51,440 --> 00:24:54,440 Speaker 12: get a little a little weary, a little wary about 520 00:24:54,480 --> 00:24:55,960 Speaker 12: this court when it comes to kind of the so 521 00:24:56,119 --> 00:24:57,320 Speaker 12: called cultural war issues. 522 00:24:57,359 --> 00:24:59,520 Speaker 10: When it comes to sovereignty, when it comes to race, 523 00:24:59,600 --> 00:24:59,920 Speaker 10: things like that. 524 00:25:00,200 --> 00:25:03,560 Speaker 12: There, when it comes to bread and butter, structural constitutionalism, 525 00:25:03,680 --> 00:25:06,800 Speaker 12: separation of powers, federalism, that's when the John Roberts Court 526 00:25:06,840 --> 00:25:08,960 Speaker 12: is at its absolute best. So I actually do feel 527 00:25:08,960 --> 00:25:11,640 Speaker 12: pretty confident that this is going to end up going 528 00:25:11,720 --> 00:25:13,880 Speaker 12: the correct way and that Trunk will be vindicated when 529 00:25:13,880 --> 00:25:16,040 Speaker 12: it comes to both Hampton, Dellinger and gwyn Willcox. 530 00:25:16,080 --> 00:25:17,800 Speaker 10: But it is taking a little longer than it should. 531 00:25:17,840 --> 00:25:22,439 Speaker 1: Frankly, can I hold you? Can I hold you through 532 00:25:22,840 --> 00:25:25,119 Speaker 1: through the break? Because I want to ask you. I 533 00:25:25,160 --> 00:25:25,760 Speaker 1: want to go back. 534 00:25:26,000 --> 00:25:29,679 Speaker 8: President Trump signed an executive order the other day specifically 535 00:25:29,680 --> 00:25:32,800 Speaker 8: about these independent agencies. So we come back the two 536 00:25:32,880 --> 00:25:37,200 Speaker 8: things the reauthorizations, because none of these, all the even 537 00:25:37,240 --> 00:25:40,359 Speaker 8: the Cabinet, EPA, FBA. 538 00:25:40,160 --> 00:25:41,800 Speaker 1: All of them are socially reauthorized. 539 00:25:41,800 --> 00:25:44,400 Speaker 8: I think every five or ten years that the military 540 00:25:44,480 --> 00:25:47,200 Speaker 8: make sure that they're never out of authorization. They do 541 00:25:47,280 --> 00:25:52,399 Speaker 8: a Natural Defense Authorization Act every year. It's the reauthorizations 542 00:25:52,560 --> 00:25:55,879 Speaker 8: of these also the independent I mean, why the President 543 00:25:55,880 --> 00:25:57,720 Speaker 8: feely had to go out and actually put an executive 544 00:25:57,800 --> 00:26:02,160 Speaker 8: order out to basically say the independent agencies actually report 545 00:26:02,200 --> 00:26:02,320 Speaker 8: to me. 546 00:26:02,400 --> 00:26:04,880 Speaker 1: Hang on I want to get the I want. 547 00:26:04,680 --> 00:26:08,240 Speaker 8: To get the answer after the break because the Left, 548 00:26:08,280 --> 00:26:10,440 Speaker 8: we've watched TV every night, they're saying we're hurtling towards 549 00:26:10,480 --> 00:26:11,679 Speaker 8: a constitutional crisis. 550 00:26:11,720 --> 00:26:14,200 Speaker 1: I kind of agree with Josh. I think it's pretty straightforward. 551 00:26:14,800 --> 00:26:16,960 Speaker 8: Right, we're gonna get We're going to have to slug 552 00:26:17,040 --> 00:26:18,960 Speaker 8: this out at the Supreme Court. 553 00:26:19,080 --> 00:26:21,600 Speaker 1: But I agree with Josh Hammer. It's pretty straightforward. 554 00:26:21,600 --> 00:26:24,159 Speaker 8: It's common sense, and I think a direct reading of 555 00:26:24,280 --> 00:26:28,560 Speaker 8: the Constitution. Birch Gold dot com, end of the dollar empire, 556 00:26:28,600 --> 00:26:30,879 Speaker 8: ej is going to be here about new labor numbers 557 00:26:31,640 --> 00:26:34,320 Speaker 8: that are out. Talking about the economy, people say it 558 00:26:34,400 --> 00:26:38,440 Speaker 8: may be softening. We're going to find out the factors 559 00:26:38,480 --> 00:26:41,959 Speaker 8: that are converging about the global economy, in the economy 560 00:26:42,000 --> 00:26:45,680 Speaker 8: the United States of America, and where precious metals fits 561 00:26:45,720 --> 00:26:48,360 Speaker 8: in as a hedge in times of turbulence and turbulence. 562 00:26:48,400 --> 00:26:52,840 Speaker 8: We're going to have speaker Johnson on Caitlin Collins last 563 00:26:52,920 --> 00:26:55,000 Speaker 8: night kind of gave it up a little bit about 564 00:26:55,040 --> 00:26:58,200 Speaker 8: the cr birch Gold dot com slash Bannon. 565 00:26:58,160 --> 00:27:01,440 Speaker 1: Go check it. Use your Stephen k back. 566 00:27:04,400 --> 00:27:08,400 Speaker 8: You know, Josh Hammer, who I would say is kind 567 00:27:08,400 --> 00:27:10,680 Speaker 8: of a steady Eddy, he's not a fire breather, calls 568 00:27:10,720 --> 00:27:16,040 Speaker 8: this a judicial insurrection. Josh, haven't we had the problem 569 00:27:16,160 --> 00:27:19,080 Speaker 8: of both the legislature and the executive just for years 570 00:27:19,840 --> 00:27:22,240 Speaker 8: have not done when these built, these laws are laid out, 571 00:27:22,240 --> 00:27:27,080 Speaker 8: for instance, the reauthorization of these cabinet positions in different programs. 572 00:27:27,760 --> 00:27:29,480 Speaker 1: And then you've got the whole thing of your point. 573 00:27:29,520 --> 00:27:33,920 Speaker 8: Since the Roosevelt these independent agencies are the alphabet agencies, 574 00:27:33,960 --> 00:27:37,080 Speaker 8: the ones that really drove, at least initially the growth 575 00:27:37,200 --> 00:27:38,399 Speaker 8: of the administrative state. 576 00:27:39,480 --> 00:27:41,399 Speaker 1: People just didn't do their job and sit on them. 577 00:27:41,440 --> 00:27:44,520 Speaker 1: And now this you know, we have a financial economic. 578 00:27:44,160 --> 00:27:46,560 Speaker 8: Crisis, at geopolitical crisis you or the beginning of the 579 00:27:46,640 --> 00:27:48,000 Speaker 8: kinetic part of Third World War. 580 00:27:48,600 --> 00:27:49,680 Speaker 1: Trump is really dumped on. 581 00:27:49,800 --> 00:27:53,159 Speaker 8: Trump is essentially a constitutional I don't want to call 582 00:27:53,160 --> 00:27:55,440 Speaker 8: it a crisis, but an issue that things just haven't 583 00:27:55,480 --> 00:27:59,159 Speaker 8: been run by what the rules are set up and 584 00:28:00,119 --> 00:28:02,879 Speaker 8: saw under the jurisdiction of the Constitution. 585 00:28:03,240 --> 00:28:08,639 Speaker 12: Sir Trump is trying to recalibrate the separation of powers. 586 00:28:09,240 --> 00:28:11,600 Speaker 12: Best on what I can tell Steve towards what they 587 00:28:11,720 --> 00:28:15,480 Speaker 12: actually are. I mean, for the past century, we have 588 00:28:15,640 --> 00:28:18,240 Speaker 12: had the engorgements of the so called Fourth branch the 589 00:28:18,240 --> 00:28:21,920 Speaker 12: administrative state. We also have had the engorgement of judicial power. 590 00:28:22,000 --> 00:28:24,440 Speaker 12: I mean, we had this whole modern day myth of 591 00:28:24,680 --> 00:28:27,320 Speaker 12: what the lawyers called judicial supremacy, which is the notion 592 00:28:27,600 --> 00:28:29,040 Speaker 12: kind of what we were talking about earlier, that the 593 00:28:29,080 --> 00:28:32,280 Speaker 12: courts are the sole, exclusive, and final arbiter of all 594 00:28:32,400 --> 00:28:36,200 Speaker 12: things constitutional law. That's not how it actually works. That 595 00:28:36,240 --> 00:28:38,400 Speaker 12: actually was not until an obscure in nineteen fifty eight 596 00:28:38,480 --> 00:28:41,200 Speaker 12: case called Cooper versus Aaron that the Supreme Court first 597 00:28:41,280 --> 00:28:44,640 Speaker 12: declared that they are the final, binding arbiter of the 598 00:28:44,720 --> 00:28:48,760 Speaker 12: interpreter of the Constitution. Abraham Lincoln famously rejected at In fact, 599 00:28:48,880 --> 00:28:53,280 Speaker 12: he actually directly he literally issued passports to free blacks 600 00:28:53,320 --> 00:28:55,920 Speaker 12: in the Western territories in direct defiance of the dread 601 00:28:55,960 --> 00:28:58,720 Speaker 12: Scott ruling from a few years prior, because he viewed 602 00:28:58,760 --> 00:29:02,920 Speaker 12: it as wholly illegitimate. So the executive absolutely does have 603 00:29:03,360 --> 00:29:05,520 Speaker 12: the not just the right, but the duty and the 604 00:29:05,600 --> 00:29:09,120 Speaker 12: obligation to interpret and enforce the Constitution as it pertains 605 00:29:09,480 --> 00:29:10,920 Speaker 12: to his own prerogatives. 606 00:29:11,200 --> 00:29:12,880 Speaker 10: And again he is the executive. 607 00:29:12,960 --> 00:29:15,400 Speaker 12: He is the only person in whom the executive power 608 00:29:15,440 --> 00:29:18,960 Speaker 12: of Article two actually resides, not in any cabinet heads, 609 00:29:19,000 --> 00:29:22,040 Speaker 12: God forbid not these stupid independent agencies which are not 610 00:29:22,200 --> 00:29:24,760 Speaker 12: constitutional in the first instance, because again, if you're outside 611 00:29:24,800 --> 00:29:27,720 Speaker 12: of the hierarchy of article to your illegitimate there So, 612 00:29:27,880 --> 00:29:30,800 Speaker 12: I think that Donald Trump is in many ways trying 613 00:29:30,880 --> 00:29:33,400 Speaker 12: to make what I like to call departmentalism great again. 614 00:29:33,480 --> 00:29:36,000 Speaker 12: Departmentalism is kind of the Abraham Lincoln stance. The stands 615 00:29:36,040 --> 00:29:38,520 Speaker 12: that all three branches get to interpret the Constitution for 616 00:29:38,640 --> 00:29:41,480 Speaker 12: their own spheres. The Judiciary doesn't strictly bind the potus, 617 00:29:41,560 --> 00:29:44,080 Speaker 12: and then the President doesn't strictly bind the judiciary, and 618 00:29:44,120 --> 00:29:47,160 Speaker 12: so forth. There that's the actual constitution. That is how 619 00:29:47,200 --> 00:29:50,960 Speaker 12: it actually works in practice. After so much time here 620 00:29:51,080 --> 00:29:53,680 Speaker 12: of an engoraged ministrative state of a Congress that does 621 00:29:53,760 --> 00:29:56,480 Speaker 12: basically nothing whatsoever and just continues to give ever greater 622 00:29:56,640 --> 00:29:59,520 Speaker 12: power to the unelected bureaucrats in the Deep State, after 623 00:29:59,560 --> 00:30:02,720 Speaker 12: the Supreme Court that for the better part of sixty 624 00:30:02,800 --> 00:30:05,880 Speaker 12: seventy years now has declared itself to be the supreme branch, 625 00:30:05,960 --> 00:30:08,440 Speaker 12: even though Hamilton famously told us in Federal seventy eight 626 00:30:08,480 --> 00:30:10,280 Speaker 12: that they were supposed to be the least dangerous branch. 627 00:30:10,320 --> 00:30:12,320 Speaker 12: So the found that they are supreme would have been 628 00:30:12,400 --> 00:30:14,400 Speaker 12: anathemas certainly to the views of the founder. Is there 629 00:30:14,600 --> 00:30:17,239 Speaker 12: again on all of these various front Steve I view 630 00:30:17,280 --> 00:30:19,760 Speaker 12: what Trump is doing as quite the opposite of a 631 00:30:19,840 --> 00:30:23,680 Speaker 12: constitutional crisis, is actually really a constitutional I would say rejuvenation. 632 00:30:23,840 --> 00:30:28,400 Speaker 1: Actually, Josh, where can people Where can people get you? 633 00:30:29,720 --> 00:30:32,280 Speaker 12: Steve want I'm on ex Josh Underscore Hammer Instagram is 634 00:30:32,360 --> 00:30:34,320 Speaker 12: Josh B. Hammer and the host two shows as well, 635 00:30:34,360 --> 00:30:37,120 Speaker 12: The Josh Hammer Show and America on Trial with Josh Hammer. 636 00:30:39,480 --> 00:30:42,400 Speaker 8: Josh, thank you for coming on this morning. We will 637 00:30:42,480 --> 00:30:44,560 Speaker 8: push the show out and all your content. 638 00:30:44,680 --> 00:30:46,440 Speaker 10: Thank you, sir, you bet, Thanks so much. 639 00:30:46,480 --> 00:30:46,680 Speaker 7: Steve. 640 00:30:49,200 --> 00:30:52,040 Speaker 8: We have told you that this use in the courts 641 00:30:52,160 --> 00:30:55,120 Speaker 8: is where their natural default position is, and they are 642 00:30:55,800 --> 00:30:59,440 Speaker 8: and I love the phrase judicial insurrection because that's essentially 643 00:31:00,080 --> 00:31:03,680 Speaker 8: what they've done here. We're going to get I want 644 00:31:03,680 --> 00:31:06,320 Speaker 8: to go to the Caitlin Collins, but I want to 645 00:31:06,360 --> 00:31:08,840 Speaker 8: do in a second is to make sure that everybody 646 00:31:09,000 --> 00:31:12,120 Speaker 8: understands they're going to come looking for and they've got 647 00:31:12,160 --> 00:31:12,880 Speaker 8: to come looking for. 648 00:31:14,640 --> 00:31:16,520 Speaker 1: Tax revenue, whether it's c. 649 00:31:16,680 --> 00:31:18,640 Speaker 8: Or or not. If you've got a letter from the IRS, 650 00:31:18,680 --> 00:31:21,320 Speaker 8: if the IRS has you know, informed you that there's 651 00:31:21,360 --> 00:31:25,800 Speaker 8: some issues with your filings and or audit or whatever. 652 00:31:26,640 --> 00:31:30,840 Speaker 8: Make sure you go to tax NETWORKUSA dot com slash bannon. 653 00:31:31,440 --> 00:31:34,240 Speaker 8: You can get a free consultation or call the following 654 00:31:34,360 --> 00:31:38,440 Speaker 8: number eight hundred nine five eight one thousand. That's eight 655 00:31:38,560 --> 00:31:41,840 Speaker 8: hundred ninety five eight one thousand. Get a free consultation, 656 00:31:42,120 --> 00:31:45,560 Speaker 8: or go online. Put in promo code Bannon when you call, 657 00:31:45,960 --> 00:31:50,160 Speaker 8: say promo code Bannon. Also, you have to deal with 658 00:31:50,280 --> 00:31:51,240 Speaker 8: a letter from the IRS. 659 00:31:51,480 --> 00:31:52,080 Speaker 2: You just have to. 660 00:31:52,720 --> 00:31:55,320 Speaker 8: So if you get a missive from them, you can 661 00:31:55,360 --> 00:31:58,360 Speaker 8: take two options. Call yourself or get a free consultation 662 00:31:58,440 --> 00:32:01,560 Speaker 8: see if they can help you. The one thing you 663 00:32:01,640 --> 00:32:03,840 Speaker 8: can't do is just let it sit there. The fees, 664 00:32:03,960 --> 00:32:06,880 Speaker 8: the penalties, the interest continues to accumulate and will not 665 00:32:06,960 --> 00:32:09,000 Speaker 8: go away. Just make it harder and harder and harder. 666 00:32:09,360 --> 00:32:11,040 Speaker 8: Let's go and play the cold open. We have EJ 667 00:32:11,200 --> 00:32:13,440 Speaker 8: and Tony Forrest with a lot going on today. 668 00:32:14,040 --> 00:32:14,800 Speaker 1: Let's go and play this. 669 00:32:15,320 --> 00:32:17,480 Speaker 5: You just talked about how important the work that Elon 670 00:32:17,560 --> 00:32:20,400 Speaker 5: Musk is doing is. If you pass a continuing resolution, 671 00:32:20,520 --> 00:32:22,840 Speaker 5: won't that just refund all the programs that he says 672 00:32:22,920 --> 00:32:25,400 Speaker 5: he's cutting that are full of waste, fraud abuse. 673 00:32:26,400 --> 00:32:26,440 Speaker 4: No. 674 00:32:26,640 --> 00:32:29,680 Speaker 6: Look, that's why I say you add anomalies to a CR, 675 00:32:29,840 --> 00:32:32,240 Speaker 6: you can increase in spinning, you can decrease some spinning. 676 00:32:32,320 --> 00:32:35,720 Speaker 6: You can add language that says, for example, the dramatic 677 00:32:35,840 --> 00:32:39,400 Speaker 6: changes that have been made to USAID would be reflected. 678 00:32:38,960 --> 00:32:40,080 Speaker 1: In the ongoing spending. 679 00:32:40,560 --> 00:32:43,360 Speaker 6: It would be a clean CR mostly, I think, but 680 00:32:43,480 --> 00:32:46,320 Speaker 6: with some of those changes to adapt to the new 681 00:32:46,400 --> 00:32:50,360 Speaker 6: realities here. And the new reality is less government, more efficiency, 682 00:32:50,920 --> 00:32:53,480 Speaker 6: better return for the taxpayers, and I think that's something 683 00:32:53,520 --> 00:32:54,400 Speaker 6: everybody should welcome. 684 00:32:54,440 --> 00:32:56,800 Speaker 1: There is a long list of data points here, so 685 00:32:57,000 --> 00:32:57,640 Speaker 1: be patient. 686 00:32:58,040 --> 00:33:01,720 Speaker 13: GDP second look at four quarter two point three, our 687 00:33:01,800 --> 00:33:04,720 Speaker 13: last look, and it remains at two point three. To 688 00:33:04,800 --> 00:33:07,280 Speaker 13: put it in context, two point three was actually the 689 00:33:07,400 --> 00:33:10,480 Speaker 13: weakest since the first quarter of twenty four, when it 690 00:33:10,640 --> 00:33:15,200 Speaker 13: was one point six. If we look at personal consumption, well, 691 00:33:15,360 --> 00:33:18,120 Speaker 13: it actually remained the same. Many were looking for it 692 00:33:18,200 --> 00:33:22,240 Speaker 13: to deteriorate a bit. Four point two percent very solid reading, 693 00:33:22,480 --> 00:33:25,080 Speaker 13: the best since the first quarter of twenty three. The 694 00:33:25,240 --> 00:33:30,120 Speaker 13: pricing into cy is leap frogging, it is jumping. Price 695 00:33:30,240 --> 00:33:33,360 Speaker 13: index moves from two point two to four point two. 696 00:33:33,680 --> 00:33:35,680 Speaker 1: I mean, I have to look at that twice. That 697 00:33:35,800 --> 00:33:37,800 Speaker 1: almost seems like I read it wrong. 698 00:33:37,880 --> 00:33:40,480 Speaker 13: Across the wire, but it is four point two that 699 00:33:40,520 --> 00:33:42,760 Speaker 13: would be the hottest. We're going back all the way 700 00:33:42,840 --> 00:33:45,600 Speaker 13: to the third quarter of twenty two when it was 701 00:33:45,880 --> 00:33:48,480 Speaker 13: four point five percent. Now, if we look at the 702 00:33:48,560 --> 00:33:51,200 Speaker 13: PCE on a core basis, now this is a quarter 703 00:33:51,360 --> 00:33:55,280 Speaker 13: over quarter metric, it jumped two tens from two point 704 00:33:55,400 --> 00:33:57,080 Speaker 13: five to two point seven. 705 00:33:57,360 --> 00:33:58,800 Speaker 3: That would be the warmest. 706 00:33:58,440 --> 00:34:01,120 Speaker 13: Since two point eight and the second order of last year. 707 00:34:01,520 --> 00:34:04,280 Speaker 8: So yields of course you're going to most likely Telly 708 00:34:04,360 --> 00:34:07,000 Speaker 8: right there walking through the numbers, let me get EJ 709 00:34:07,280 --> 00:34:07,600 Speaker 8: in here. 710 00:34:07,800 --> 00:34:11,400 Speaker 1: EJ break this all down, including the jobs number. 711 00:34:12,080 --> 00:34:14,920 Speaker 8: I take it in the fourth quarter, it looks like 712 00:34:15,000 --> 00:34:20,359 Speaker 8: the indication for future inflation coming in a little hot, sir, Oh. 713 00:34:20,520 --> 00:34:21,280 Speaker 3: Very hot, Steve. 714 00:34:21,320 --> 00:34:23,960 Speaker 9: You guys, as we just heard from Rick Santelli there, 715 00:34:24,160 --> 00:34:27,280 Speaker 9: you know, the number essentially doubled from what we previously 716 00:34:27,360 --> 00:34:30,400 Speaker 9: thought it was. In other words, inflation was way worse 717 00:34:30,520 --> 00:34:33,719 Speaker 9: at the end of the Biden administration than they previously 718 00:34:33,840 --> 00:34:36,600 Speaker 9: told us. Shock of shocks. Right, this is the same 719 00:34:36,640 --> 00:34:39,360 Speaker 9: old game that we saw over and over again throughout 720 00:34:39,480 --> 00:34:42,640 Speaker 9: the four years of Biden, where we had initial data 721 00:34:42,719 --> 00:34:45,520 Speaker 9: and it was always revised worse, so that meant inflation 722 00:34:45,600 --> 00:34:49,160 Speaker 9: getting revised up, jobs numbers getting revised down, et cetera. 723 00:34:49,239 --> 00:34:51,880 Speaker 9: But another really troubling thing that we see in this 724 00:34:52,080 --> 00:34:56,840 Speaker 9: GDP report is the fact that investment, specifically a fixed 725 00:34:57,120 --> 00:35:02,080 Speaker 9: private investment was down even more than previously estimated in 726 00:35:02,200 --> 00:35:04,440 Speaker 9: the fourth quarter. In other words, at the end of 727 00:35:04,480 --> 00:35:08,960 Speaker 9: the Biden administration, this key driver of future economic growth 728 00:35:09,480 --> 00:35:12,880 Speaker 9: was going down, and going down faster than they initially 729 00:35:13,000 --> 00:35:16,319 Speaker 9: told us. So again, Trump is essentially being handed an 730 00:35:16,360 --> 00:35:19,520 Speaker 9: economy much worse than we thought it was, at least 731 00:35:19,560 --> 00:35:22,400 Speaker 9: going by the official data, and so it's going to 732 00:35:22,440 --> 00:35:25,239 Speaker 9: be even more of a herculean effort to try to 733 00:35:25,320 --> 00:35:28,120 Speaker 9: turn this thing around. In terms of those jobs numbers 734 00:35:28,160 --> 00:35:31,560 Speaker 9: that you mentioned, you know, we continue to see additional 735 00:35:31,680 --> 00:35:34,520 Speaker 9: data coming in that shows us once again the jobs 736 00:35:34,600 --> 00:35:37,440 Speaker 9: that we thought were there never really were there, and 737 00:35:37,560 --> 00:35:41,440 Speaker 9: so we anticipate many more downward revisions as we go 738 00:35:41,600 --> 00:35:45,120 Speaker 9: further and further into the future. Shockingly, the last of 739 00:35:45,200 --> 00:35:48,960 Speaker 9: those big downward revisions from the Biden years we won't 740 00:35:49,000 --> 00:35:52,640 Speaker 9: even get until the start of next year. In other words, 741 00:35:52,760 --> 00:35:55,360 Speaker 9: January of twenty twenty six. That's when we can finally 742 00:35:55,440 --> 00:35:58,840 Speaker 9: close the book with the last downward revision for Biden. 743 00:35:58,920 --> 00:36:01,600 Speaker 9: But the initial data we have today that points to 744 00:36:01,680 --> 00:36:04,920 Speaker 9: what those future revisions will look like is pretty gloomy. 745 00:36:05,239 --> 00:36:06,040 Speaker 3: It's pretty bad. 746 00:36:06,560 --> 00:36:09,680 Speaker 9: So again, we can expect those big downward revisions to 747 00:36:09,760 --> 00:36:13,400 Speaker 9: continue in terms of job numbers right now. One of 748 00:36:13,440 --> 00:36:17,040 Speaker 9: the interesting things we're seeing with these the initial filings 749 00:36:17,080 --> 00:36:19,760 Speaker 9: for unemployment insurance that comes in on a weekly basis, 750 00:36:20,239 --> 00:36:22,359 Speaker 9: is that we're seeing a huge spike. 751 00:36:22,480 --> 00:36:24,799 Speaker 3: In Washington, d C. In the greater DC area. 752 00:36:24,880 --> 00:36:28,800 Speaker 9: In other words, all of the firings, all of the 753 00:36:28,960 --> 00:36:32,520 Speaker 9: efficiency cuts that are being made, whether it's by DOZE 754 00:36:32,640 --> 00:36:34,920 Speaker 9: or or other government agencies, whatever the case may be, 755 00:36:35,560 --> 00:36:38,440 Speaker 9: those numbers are actually large enough to show up in 756 00:36:38,560 --> 00:36:41,480 Speaker 9: the macro level data. I think this is a huge 757 00:36:41,560 --> 00:36:44,600 Speaker 9: win for the American people, the fact that the DC 758 00:36:44,760 --> 00:36:47,600 Speaker 9: bureaucrats are losing their jobs. And look, it's not that 759 00:36:47,719 --> 00:36:49,880 Speaker 9: we hate people, right, it's not that we want to 760 00:36:49,920 --> 00:36:53,160 Speaker 9: see anybody suffer, But it's simply the fact that the 761 00:36:53,360 --> 00:36:54,560 Speaker 9: work these people. 762 00:36:54,400 --> 00:36:56,520 Speaker 3: Were doing was counter productive. 763 00:36:56,640 --> 00:37:00,360 Speaker 9: The work these people were doing was costing the American 764 00:37:00,440 --> 00:37:06,680 Speaker 9: people dearly, and hangovery. 765 00:37:04,560 --> 00:37:07,320 Speaker 8: Hangover a second, what do you mean by that? What 766 00:37:07,400 --> 00:37:10,000 Speaker 8: do you mean the work was counterproductive. Give me some 767 00:37:10,560 --> 00:37:11,680 Speaker 8: be specific about that. 768 00:37:13,239 --> 00:37:16,000 Speaker 3: Great, great question, Steve. When we look at, for example, 769 00:37:16,040 --> 00:37:16,720 Speaker 3: the work being. 770 00:37:16,640 --> 00:37:20,840 Speaker 9: Done by regulators, they are adding significant costs in just 771 00:37:20,960 --> 00:37:25,440 Speaker 9: the In just the Biden years, for example, regulators managed 772 00:37:25,480 --> 00:37:29,279 Speaker 9: to add the equivalent cost of ten thousand dollars per 773 00:37:29,400 --> 00:37:30,320 Speaker 9: American family. 774 00:37:30,440 --> 00:37:32,040 Speaker 3: I mean, that's absolutely devastating. 775 00:37:32,120 --> 00:37:35,200 Speaker 9: That's a huge part of where today's cost of living 776 00:37:35,280 --> 00:37:39,600 Speaker 9: crisis has come from. It's the regulatory burden inflicted on 777 00:37:39,680 --> 00:37:44,640 Speaker 9: the American people by these by these bureaucrats. Conversely, during 778 00:37:44,680 --> 00:37:46,840 Speaker 9: the first Trump administration, and we hope they're going to 779 00:37:47,320 --> 00:37:49,919 Speaker 9: repeat that success now in the second administration. But during 780 00:37:49,960 --> 00:37:53,840 Speaker 9: the first administration they cut about twenty five hundred dollars 781 00:37:54,160 --> 00:37:57,080 Speaker 9: in terms of regulatory costs for the average American family, 782 00:37:57,360 --> 00:38:00,560 Speaker 9: So that that was a huge boon to the people, 783 00:38:00,600 --> 00:38:03,319 Speaker 9: and it was all taken away and then some by 784 00:38:03,400 --> 00:38:06,320 Speaker 9: the Biden error regulators. But on top of that, you know, 785 00:38:06,600 --> 00:38:10,040 Speaker 9: it's not just regulators, it's the people who are allocating 786 00:38:10,520 --> 00:38:15,040 Speaker 9: our tax dollars to all of these crazy ventures overseas, 787 00:38:15,120 --> 00:38:19,480 Speaker 9: all the folks that have gotten asked from USAID, for example, 788 00:38:19,840 --> 00:38:23,000 Speaker 9: they were certainly not doing the lord's work to put 789 00:38:23,040 --> 00:38:26,080 Speaker 9: it gently right, they were taking our money and spending 790 00:38:26,160 --> 00:38:30,400 Speaker 9: it in oftentimes counterproductive ways. Not only wasting it on 791 00:38:30,600 --> 00:38:32,600 Speaker 9: things we never should have been spending that money on, 792 00:38:32,960 --> 00:38:36,680 Speaker 9: but very oftentimes they were sending money to groups that 793 00:38:36,880 --> 00:38:39,600 Speaker 9: did not have America's best interest at heart, that in fact, 794 00:38:39,640 --> 00:38:43,600 Speaker 9: we're working against America's best interests. This is how, for example, 795 00:38:43,840 --> 00:38:46,760 Speaker 9: we had money landing in the hands of the Taliban 796 00:38:46,880 --> 00:38:48,040 Speaker 9: and other terrorist groups. 797 00:38:51,400 --> 00:38:53,680 Speaker 8: How did we get in a situation And I want 798 00:38:53,719 --> 00:38:56,239 Speaker 8: to go very specifically back it used to be. It 799 00:38:56,320 --> 00:38:58,840 Speaker 8: was bad enough it was jobs that they put a 800 00:38:58,960 --> 00:39:00,960 Speaker 8: number out and they go back and revise it the 801 00:39:01,000 --> 00:39:03,719 Speaker 8: next quarter or two quarters later, and we understand the 802 00:39:03,800 --> 00:39:05,920 Speaker 8: job situation is much worse then. 803 00:39:06,000 --> 00:39:07,200 Speaker 1: You were the one that went through. 804 00:39:07,120 --> 00:39:10,160 Speaker 8: And actually broke down the jobs and say, hey, look 805 00:39:10,400 --> 00:39:14,000 Speaker 8: they don't they're not delineing here for the public to 806 00:39:14,080 --> 00:39:17,560 Speaker 8: put forward that all these jobs are being generated for 807 00:39:17,680 --> 00:39:21,800 Speaker 8: foreigners or illegal aliens, that American born citizens, native born citizens, 808 00:39:22,280 --> 00:39:24,920 Speaker 8: regardless of your race, ethnicity. 809 00:39:24,880 --> 00:39:26,800 Speaker 1: Religion, are not getting these jobs. 810 00:39:27,440 --> 00:39:31,400 Speaker 8: Right now, we're to the situation of revising other aspects. 811 00:39:31,440 --> 00:39:34,320 Speaker 8: Investments the one that jumps off the page, and I 812 00:39:34,440 --> 00:39:36,680 Speaker 8: hope the Trump team this afternoon is dealing with this 813 00:39:36,880 --> 00:39:39,399 Speaker 8: right now. And this makes sense why they're Hammond Trump 814 00:39:39,480 --> 00:39:42,879 Speaker 8: with the price of eggs, their inflation forecasts two point 815 00:39:42,920 --> 00:39:47,320 Speaker 8: two percent to four point two percent. Let's do it 816 00:39:47,360 --> 00:39:48,960 Speaker 8: after the break. I need to hold you because here's 817 00:39:48,960 --> 00:39:52,759 Speaker 8: the point. I couldn't figure out why labor departments having 818 00:39:52,880 --> 00:39:55,520 Speaker 8: such misses all the time. Is there something matter with 819 00:39:55,560 --> 00:39:57,759 Speaker 8: the algorithm of using Is there something the matter with 820 00:39:57,880 --> 00:40:03,640 Speaker 8: how they're doing these surveys. But to misinflation by the 821 00:40:04,040 --> 00:40:07,200 Speaker 8: you know, almost a double I can see, oh, we 822 00:40:07,239 --> 00:40:08,560 Speaker 8: thought it was two point two and it is really 823 00:40:08,600 --> 00:40:10,600 Speaker 8: two point six, or it's two point two and it's 824 00:40:10,600 --> 00:40:13,319 Speaker 8: two point seven, or two point eight. They go from 825 00:40:13,360 --> 00:40:16,120 Speaker 8: two point two to four point two. It just it 826 00:40:16,200 --> 00:40:18,719 Speaker 8: doesn't feel that that was not done on purpose. That 827 00:40:18,920 --> 00:40:20,920 Speaker 8: number is not suppressed on purpose. And this is one 828 00:40:20,960 --> 00:40:23,640 Speaker 8: of the reasons President Trump is starting off and there's 829 00:40:23,640 --> 00:40:26,120 Speaker 8: some inflation, and inflation looks like it's going to get hot, 830 00:40:26,760 --> 00:40:29,800 Speaker 8: and of course that's exacerbated. It's tied to in the 831 00:40:29,920 --> 00:40:36,400 Speaker 8: quarter EJ and Tony doctor Antoni that we had the 832 00:40:36,520 --> 00:40:42,160 Speaker 8: biggest record ever UH in deficits for the for the 833 00:40:42,320 --> 00:40:45,040 Speaker 8: for the first quarter of the fiscal year, and I 834 00:40:45,160 --> 00:40:47,400 Speaker 8: might add I think December is the biggest number on 835 00:40:47,560 --> 00:40:52,560 Speaker 8: record on trade deficit. It's all coming together and it 836 00:40:52,680 --> 00:40:55,359 Speaker 8: ain't good, and they've kind of suppressed the math. 837 00:40:55,440 --> 00:40:59,800 Speaker 1: Here short break ej On the other side, he's your host, 838 00:41:00,120 --> 00:41:04,360 Speaker 1: Stephen k Back. We're going to try to tie it 839 00:41:04,400 --> 00:41:06,400 Speaker 1: all together the next hour with Jim Rickards. He's going 840 00:41:06,440 --> 00:41:08,719 Speaker 1: to join us. Go to Records Warroom dot com. 841 00:41:08,800 --> 00:41:12,560 Speaker 8: If you like capital markets and geopolitics, all the national 842 00:41:12,640 --> 00:41:15,879 Speaker 8: security aspect of it, go to Records Warroom dot com. 843 00:41:16,719 --> 00:41:19,919 Speaker 8: Put in ben and you get a discount. Strategic Intelligence 844 00:41:20,120 --> 00:41:22,320 Speaker 8: is the newsletter throughout the world that gym is known for. 845 00:41:23,320 --> 00:41:25,920 Speaker 8: Top you're gonna be reading with the top CEOs, chairman, 846 00:41:26,320 --> 00:41:28,440 Speaker 8: hedge fund guys, not just in the United States, but 847 00:41:28,560 --> 00:41:30,600 Speaker 8: throughout the world. Read so if you want to be 848 00:41:30,760 --> 00:41:33,759 Speaker 8: inside baseball, that's the way you get a strategic intelligence 849 00:41:34,440 --> 00:41:37,440 Speaker 8: Records Warroom dot com. You get a free book also 850 00:41:37,800 --> 00:41:42,120 Speaker 8: about artificial intelligence and capital markets that will maybe keep 851 00:41:42,160 --> 00:41:42,799 Speaker 8: you up at night. 852 00:41:44,080 --> 00:41:44,520 Speaker 1: Just read it. 853 00:41:45,200 --> 00:41:50,080 Speaker 8: Very powerful from records Ejantoni back to my question, how 854 00:41:50,160 --> 00:41:52,560 Speaker 8: do they First off, how do they have such a 855 00:41:52,600 --> 00:41:55,440 Speaker 8: big miss on inflation? And then I want to ask 856 00:41:55,520 --> 00:41:59,080 Speaker 8: you what does this pretend for the economy that President 857 00:41:59,120 --> 00:42:00,440 Speaker 8: Trump is dealing with, Sir. 858 00:42:02,239 --> 00:42:05,400 Speaker 9: Well, Steve, Unfortunately, we're not able to get the price 859 00:42:05,480 --> 00:42:08,520 Speaker 9: of every single thing throughout the entire economy in a 860 00:42:08,640 --> 00:42:11,640 Speaker 9: timely manner and then also compare that with what people 861 00:42:11,920 --> 00:42:15,200 Speaker 9: are actually buying. So these GDP reports, they don't just 862 00:42:15,400 --> 00:42:18,920 Speaker 9: measure the price of everything that people are selling, but 863 00:42:19,200 --> 00:42:22,920 Speaker 9: it's also all weighted. It's a weighted average according to 864 00:42:23,320 --> 00:42:25,560 Speaker 9: what people are buying. So as people buy more of 865 00:42:25,640 --> 00:42:28,120 Speaker 9: one thing and less of another, it's going to change 866 00:42:28,160 --> 00:42:30,879 Speaker 9: how much one price counts versus another. So again it's 867 00:42:30,960 --> 00:42:33,239 Speaker 9: very difficult to collect all that data. There's a lot 868 00:42:33,320 --> 00:42:37,160 Speaker 9: of surveys involved, and so you do typically have some revisions, 869 00:42:37,280 --> 00:42:41,160 Speaker 9: occasionally even large revisions. But what stands out over the 870 00:42:41,239 --> 00:42:44,120 Speaker 9: last several years is what we were talking about earlier, 871 00:42:44,400 --> 00:42:47,719 Speaker 9: how consistently the inflation numbers have had to have been 872 00:42:48,040 --> 00:42:51,520 Speaker 9: revised worse, and so that points to something wrong in 873 00:42:51,640 --> 00:42:55,359 Speaker 9: the data itself, which does periodically happen and does need 874 00:42:55,480 --> 00:42:59,520 Speaker 9: to be corrected. Whether it's the method methodologies, maybe it's 875 00:42:59,560 --> 00:43:02,719 Speaker 9: how the day is being collected, the models that are 876 00:43:02,800 --> 00:43:05,760 Speaker 9: being used. Again, whatever the case may be clearly something 877 00:43:05,880 --> 00:43:08,480 Speaker 9: is wrong and something needs to be corrected. And you know, 878 00:43:08,560 --> 00:43:12,360 Speaker 9: the Bureau of Economic Analysis falls under the Department of Commerce, 879 00:43:12,400 --> 00:43:14,960 Speaker 9: So I think this is definitely something the new Commerce 880 00:43:15,040 --> 00:43:17,200 Speaker 9: Secretary needs to take a look at, just like the 881 00:43:17,320 --> 00:43:20,000 Speaker 9: new Labor Secretary needs to be taking a look at 882 00:43:20,040 --> 00:43:23,600 Speaker 9: the Bureau of Labor Statistics, which is in that department obviously, 883 00:43:24,000 --> 00:43:27,120 Speaker 9: because the BLS is the ones that put together the 884 00:43:27,200 --> 00:43:30,520 Speaker 9: consumer Price Index, for example, and there are clearly problems 885 00:43:30,760 --> 00:43:34,520 Speaker 9: with that price index as well. Again, something is wrong 886 00:43:34,640 --> 00:43:37,959 Speaker 9: with the numbers here when you so consistently get such 887 00:43:38,320 --> 00:43:41,200 Speaker 9: large revisions and they're all in the same direction. 888 00:43:43,239 --> 00:43:45,600 Speaker 8: What does this mean for where we stand. I'm gonna 889 00:43:45,600 --> 00:43:48,560 Speaker 8: play the Kaitlyn Collins and AJ do you have a 890 00:43:48,640 --> 00:43:50,160 Speaker 8: heart out at eleven? Or can I keep you for 891 00:43:50,200 --> 00:43:52,200 Speaker 8: a few minutes to the next block? 892 00:43:53,040 --> 00:43:53,080 Speaker 7: No? 893 00:43:53,160 --> 00:43:54,560 Speaker 3: No, I'd be happy to stay longer. 894 00:43:56,360 --> 00:43:58,360 Speaker 1: Okay, So I'm gonna deal with the Caitlin Cowins in 895 00:43:58,400 --> 00:43:58,759 Speaker 1: a second. 896 00:43:58,800 --> 00:44:02,400 Speaker 8: But let's go back in the contacts that now you 897 00:44:02,520 --> 00:44:05,799 Speaker 8: have the reconciliation, and the reconciliation people just understand that's 898 00:44:06,000 --> 00:44:08,200 Speaker 8: really dealing with the extension of the tax cuts. 899 00:44:08,239 --> 00:44:10,800 Speaker 1: It's a whole lot of smoke and mirrors in that. 900 00:44:10,880 --> 00:44:11,600 Speaker 1: But we'll deal with that. 901 00:44:11,840 --> 00:44:14,360 Speaker 8: But the CRS, we've preached the gospel of the cr 902 00:44:15,200 --> 00:44:17,120 Speaker 8: that has got to be addressed to fund the government 903 00:44:17,160 --> 00:44:20,520 Speaker 8: for the rest of the year. In your mind, as 904 00:44:20,560 --> 00:44:24,040 Speaker 8: an economist, where do we really stand with what President 905 00:44:24,080 --> 00:44:25,040 Speaker 8: Trump inherited? 906 00:44:25,160 --> 00:44:27,719 Speaker 1: As you see the economic battlefield in front of. 907 00:44:27,800 --> 00:44:32,600 Speaker 9: Us, it feels like less a battlefield than a minefield. Frankly, 908 00:44:32,680 --> 00:44:36,880 Speaker 9: what President Trump has inherited. I mean, it is difficult 909 00:44:37,000 --> 00:44:40,080 Speaker 9: Steve to, I think, to get across to people just 910 00:44:40,280 --> 00:44:44,160 Speaker 9: how bad the economy is, because what the economy actually 911 00:44:44,239 --> 00:44:47,040 Speaker 9: looks like today and what people's lived experiences is just 912 00:44:47,120 --> 00:44:50,359 Speaker 9: simply not matching up with what the data say. There's 913 00:44:50,480 --> 00:44:53,080 Speaker 9: just too many problems again with the data. Going back 914 00:44:53,120 --> 00:44:55,480 Speaker 9: to what we were just talking about, right, there are 915 00:44:55,600 --> 00:44:58,759 Speaker 9: things wrong with the data themselves. And this, I think 916 00:44:58,840 --> 00:45:03,360 Speaker 9: is why President Trump won such a renowned, such a 917 00:45:03,440 --> 00:45:06,520 Speaker 9: great victory in November right where you had him winning 918 00:45:06,640 --> 00:45:10,600 Speaker 9: the popular vote every swing state, a huge electoral majority. 919 00:45:10,880 --> 00:45:14,120 Speaker 9: It's because the media was not successful in telling people 920 00:45:14,440 --> 00:45:16,880 Speaker 9: don't believe you're lying eyes and don't believe your empty 921 00:45:16,920 --> 00:45:20,520 Speaker 9: Walllet's everything's fine. So we are staring down the barrel 922 00:45:20,640 --> 00:45:24,160 Speaker 9: of more inflation courtesy of the fed's interest rate cuts 923 00:45:24,239 --> 00:45:27,880 Speaker 9: last year and relatively loose monetary policy. Let's not forget 924 00:45:27,960 --> 00:45:31,000 Speaker 9: the monthly If we look at the monthly inflation reports, 925 00:45:31,120 --> 00:45:34,279 Speaker 9: the annual inflation rate that comes in every month, that 926 00:45:34,440 --> 00:45:37,880 Speaker 9: has gotten worse each month since the FED started cutting 927 00:45:37,920 --> 00:45:41,120 Speaker 9: interest rates. So clearly we have more inflation coming down 928 00:45:41,160 --> 00:45:43,239 Speaker 9: the pike that the President will have to deal with. 929 00:45:43,800 --> 00:45:46,960 Speaker 9: We have all of the messes internationally that the President 930 00:45:47,080 --> 00:45:50,320 Speaker 9: is already dealing with, especially in places like the Ukraine. 931 00:45:50,760 --> 00:45:54,560 Speaker 9: We have a banking crisis which still really hasn't gone away. 932 00:45:54,640 --> 00:45:57,799 Speaker 9: The FED just papered over it with things like emergency 933 00:45:57,880 --> 00:46:01,000 Speaker 9: lending programs, but that is still very We have a 934 00:46:01,080 --> 00:46:04,320 Speaker 9: commercial real estate sector that is an absolute turmoil. The 935 00:46:04,480 --> 00:46:08,040 Speaker 9: housing market is a disaster. We just got pending home 936 00:46:08,160 --> 00:46:12,200 Speaker 9: sales numbers this morning that were down to a record low. 937 00:46:12,960 --> 00:46:16,040 Speaker 9: Pending home sales today are about thirty percent below where 938 00:46:16,080 --> 00:46:19,200 Speaker 9: they were in two thousand and one, not twenty twenty one, 939 00:46:19,440 --> 00:46:22,880 Speaker 9: two thousand and one, So here we are essentially a 940 00:46:23,000 --> 00:46:26,240 Speaker 9: quarter century later and the housing market is thirty percent 941 00:46:26,360 --> 00:46:30,160 Speaker 9: less activity today than it did back then that's a disaster, 942 00:46:30,600 --> 00:46:34,440 Speaker 9: even before you factor in things like population growth for example. 943 00:46:34,719 --> 00:46:37,480 Speaker 9: So again, what this president has been handed is an 944 00:46:37,520 --> 00:46:40,880 Speaker 9: absolute dumpster fire frankly of an economy. 945 00:46:41,440 --> 00:46:43,960 Speaker 3: Things are terrible. The deficit is exploding. 946 00:46:44,040 --> 00:46:47,000 Speaker 9: It's the worst start ever to a fiscal year in 947 00:46:47,160 --> 00:46:51,040 Speaker 9: terms of that deficit started in October ran through January, 948 00:46:51,280 --> 00:46:54,879 Speaker 9: the worst four months start ever to a fiscal year. 949 00:46:55,239 --> 00:46:58,840 Speaker 9: And at the same time, you have a Treasury Secretary 950 00:46:58,880 --> 00:47:01,880 Speaker 9: in Scott Besson, who is a master of sovereign debt markets, 951 00:47:01,920 --> 00:47:04,160 Speaker 9: and he's going to need I think every ounce of 952 00:47:04,280 --> 00:47:08,360 Speaker 9: his mastery and expertise to really unwind the disaster and 953 00:47:08,440 --> 00:47:11,640 Speaker 9: the mess that he was left by Janet Yellen in 954 00:47:11,800 --> 00:47:15,839 Speaker 9: terms of rebalancing the Treasury's portfolio, in terms of trying 955 00:47:15,920 --> 00:47:18,319 Speaker 9: to get the yield down on the ten year Treasury note, 956 00:47:18,520 --> 00:47:20,680 Speaker 9: trying to get the interest payments down on the debt. 957 00:47:20,719 --> 00:47:23,720 Speaker 9: Those interest payments are already over one point two trillion 958 00:47:23,800 --> 00:47:26,279 Speaker 9: dollars a year. I mean, Steve, if you give me 959 00:47:26,320 --> 00:47:28,879 Speaker 9: an hour, I could fill it. I'm sure with all 960 00:47:28,960 --> 00:47:32,319 Speaker 9: of the negative aspects of this economy that President Trump 961 00:47:32,400 --> 00:47:34,440 Speaker 9: has inherited and that he's going to have to deal with. 962 00:47:38,560 --> 00:47:40,680 Speaker 8: And on top the only one you missed. We had 963 00:47:40,719 --> 00:47:43,680 Speaker 8: a record trade deficit in the month of December. And 964 00:47:43,719 --> 00:47:45,440 Speaker 8: they're saying, oh, that's people trying to get ahead of 965 00:47:45,600 --> 00:47:49,600 Speaker 8: President Trump's tariffs. That's absolutely correct, is that we're purchasing 966 00:47:49,640 --> 00:47:52,120 Speaker 8: too many manufactured goods from overseas. 967 00:47:52,480 --> 00:47:55,760 Speaker 1: Full stop. I'm going to keep bj and Tony. 968 00:47:57,239 --> 00:47:59,400 Speaker 8: We're going to talk about this cr We're also going 969 00:47:59,480 --> 00:48:02,120 Speaker 8: to talk about Peter and Navarro has been on CNBC 970 00:48:02,280 --> 00:48:06,440 Speaker 8: talking about the terrafs. President Trump reiterated this morning on 971 00:48:06,560 --> 00:48:09,560 Speaker 8: the fourth in the evening, he'll go up to address 972 00:48:09,640 --> 00:48:11,960 Speaker 8: the nation from the nation's capital. 973 00:48:13,040 --> 00:48:16,479 Speaker 1: Earlier in the day, he will, as he says, hit. 974 00:48:18,600 --> 00:48:22,080 Speaker 8: Mexico and Canada, two of our largest trading partners, with 975 00:48:22,200 --> 00:48:24,719 Speaker 8: twenty five percent across the board terrace and oh, by 976 00:48:24,800 --> 00:48:28,479 Speaker 8: the way, a ten percent tariff on the Chinese commanties party. 977 00:48:29,440 --> 00:48:36,719 Speaker 8: Everything coming from China, geostrategically, geoeconomically. There are decades in 978 00:48:36,800 --> 00:48:40,480 Speaker 8: which nothing happens, and there are weeks in which decades happened. 979 00:48:40,560 --> 00:48:43,760 Speaker 8: Ladies and gentlemen, you're living through one of those weeks. 980 00:48:44,480 --> 00:48:47,399 Speaker 8: The Prime Minister of the United Kingdom to the White 981 00:48:47,440 --> 00:48:51,440 Speaker 8: House right afternoon. Zelenski's there. Tomorrow, President Trump doing it all. 982 00:48:52,960 --> 00:48:56,520 Speaker 8: You'll find out how and why and what next in 983 00:48:56,600 --> 00:48:57,000 Speaker 8: the world