Speaker 1: Broadcasting live from the Abraham Lincoln Radio Studio, the George
Speaker 1: Washington Broadcast Center, Jack Armstrong, Joe, Katty Armstrong and Jackie
Speaker 1: and Pee Armstrong and Yetty. Was it an old man
Speaker 1: losing his temper? Or was it three dimensional chess? We'll
Speaker 1: get to Trump storming out of meet the Press in
Speaker 1: just a little bit. All chess is three dimensional, dammit.
Speaker 1: A couple of things for you. We got to get
Speaker 1: to his pea hustle going to become a US Senator
Speaker 1: John Fetterman deciding to call him pea hustle all the
Speaker 1: time is pretty hilarious. That's a platinum up in Maine.
Speaker 1: Oh that's what he called himself on kick. I guess
Speaker 1: when he was trying to meet chicks or dudes or
Speaker 1: whatever he was doing, pea hustle, probably Nazi chicks. So
Speaker 1: in Senator Fetterman, who's a Democrat running against pea Hustle
Speaker 1: becoming a nominee. Every interview he calls him p Hustle. Well,
Speaker 1: the problem with p hustle is and then but anyway,
Speaker 1: we'll play some of that a little bit later. Yuh.
Speaker 1: Travis Kelcey and Taylor Swift have announced they're getting married
Speaker 1: at Madison Square Garden. Boy, I didn't think that was
Speaker 1: what I assumed we'd find out they got married over
Speaker 1: the weekend in some obscure Italian village and they would
Speaker 1: do a private. No, it's gonna go completely the other
Speaker 1: direction Madison Square Garden. At least, that's what the rumor is.
Speaker 1: So well, that's that's some good marital advice. Turn your
Speaker 1: wedding into a spectacle. And I don't mean just an
Speaker 1: average spectacle. I mean like a global spectacle. And then
Speaker 1: one more thing I can't wait to talk about. Have
Speaker 1: you seen that? At least in Los Angeles, Applebee's and
Speaker 1: I Hops have joined forces in a store that has
Speaker 1: both Applebee's and I Hop one location. Wow, huh? How
Speaker 1: good is that? I'm just gonna park a camper in
Speaker 1: the parking lot. I got everything I needed there, get
Speaker 1: it exactly, Get stack pancakes and an Union ring tower
Speaker 1: in one spot. Come on, plase bracfast launch and dinner snacks.
Speaker 1: That's all there. Fabulous. So Donald Trump, for some reason
Speaker 1: sat down with an interview of Kristen Welker with Pressed.
Speaker 1: The meat as I prefer to call it, some some
Speaker 1: call it meat. The press about just everything that's going on.
Speaker 1: The most transparent president in history. Wall you get two week,
Speaker 1: which I appreciate. We also need to make it clear
Speaker 1: because you probably hear it in the clips. They're like
Speaker 1: an intent outside in a pouring rainstorm. Yeah, before he
Speaker 1: and this was this was recorded on Friday, which to
Speaker 1: me shows you what a national crisis it is. It
Speaker 1: didn't air for like three days, made it finally airs,
Speaker 1: and then it's the talk of the town, right because
Speaker 1: he because he storms out but everywhere a real national alert.
Speaker 1: Do you think would have held onto it for three
Speaker 1: days anyway? Yeah, I know, I know, but it is
Speaker 1: some of the things that he said was interesting. Then
Speaker 1: it ends in combative fashion, which I've got to admit
Speaker 1: a kind of enjoyed. Let's just let's start to hit
Speaker 1: the top work our way, Welker and Trump.
Speaker 2: I don't know what's going to happen with the representation
Speaker 2: in front. I love the idea because people like you,
Speaker 2: the fake, dirty press, the crooked press, people start stupid Biben,
Speaker 2: He's not smart enough to know what's going on. But
Speaker 2: people that surrounded him, surrounded his beautiful, resolute test in
Speaker 2: the Oval office. What they did to the lives of people.
Speaker 2: They destroyed people, They sent people to jail who did
Speaker 2: nothing wrong.
Speaker 3: Just be very clear, there's no evidence of what you're saying.
Speaker 3: But there's a lot about Todd.
Speaker 1: Listen to me, let's talk. This is tremendous. Evidence is
Speaker 1: nothing but evidence.
Speaker 2: The election was ing. It was a dirty election.
Speaker 1: Okay. So that was on the topic of that. Some
Speaker 1: people called a slush fund. That's not what Trump calls it.
Speaker 1: Obviously weaponization fund. But that one point seven billion, seventeen
Speaker 1: seventy six fund going to January sixth rioters who attacked cops,
Speaker 1: they they She asked him specifically about that, and he said, well,
Speaker 1: they were. They were screwed by dirty cops. That's what
Speaker 1: happened there, and they deserve to be paid. And she
Speaker 1: said there's no evidence of that. That's what he was
Speaker 1: mad about and called her what a dirty lion something
Speaker 1: or other. Yes, we got the effect right, right, and
Speaker 1: you know, the context matters, But it sounded to me
Speaker 1: like she was denying that there was lawfair or selective prosecution,
Speaker 1: when of course there was, even the New York Times
Speaker 1: has admitted that. But moving along, Trump wanted to talk
Speaker 1: about the the fraud slow moving election in California is happening.
Speaker 2: Again right now in California, right now in California, right now,
Speaker 2: it's looking look at what's happened in California.
Speaker 1: That it's in California.
Speaker 2: It's now they're not there. They're dropping fast because it's
Speaker 2: a rigged election. Let me tell you, it's four days
Speaker 2: and they aren't even close to how you know why
Speaker 2: they're doing that, because they're cheating.
Speaker 1: On the election. What do you have evidence? I have
Speaker 1: to do is look, well, I have to do it.
Speaker 2: And I listen to people, and let's see what happens.
Speaker 3: Sir, that's not evidence.
Speaker 1: You think it's appropriate.
Speaker 3: That's how they the votes.
Speaker 2: Do you think it's appropriate that they have an election?
Speaker 2: And five days later they're nowhere close to.
Speaker 3: Saying local officials acknowledge they are slow. They're urging.
Speaker 2: Oh they're crooked.
Speaker 3: They're urging the votes to be counted quickly.
Speaker 1: Oh my god. That noise, just the noise of those
Speaker 1: two is just making me unhappy. Yeah, I know. It's
Speaker 1: raising my unhappiness level in my body hearing that. Look,
Speaker 1: I don't care if you love Trump, he is a
Speaker 1: terrible spokesman for himself. Look, at it. Just look at it.
Speaker 1: I hear people talking, no, you got to bring the
Speaker 1: goods better than that, because California is you know, the
Speaker 1: slow vote counting is not proof of corruption, but it
Speaker 1: sure is a nice dear blind where a corruption could
Speaker 1: take place behind it. You'd never know, sure, But he
Speaker 1: is making the argument that it's proof that something crazy
Speaker 1: is going on, same as he did in twenty twenty.
Speaker 1: If you have somebody in the lead on election night
Speaker 1: and then the lead disappears over time, which is just
Speaker 1: trading us all like idiots. I mean that we don't understand. Yeah,
Speaker 1: the in person vote they get immediately, and then that
Speaker 1: person's in the lead, and then they start opening up
Speaker 1: the mailed invalids and those often for a different party,
Speaker 1: and then you know, the numbers change. That's not proof
Speaker 1: of anything more exciting highlights from the interview. After a
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Speaker 1: dog food better. Wolf. I hate Kristin Welker. I think,
Speaker 1: of of the Sunday morning shows, that's the one I
Speaker 1: least like tuning into at all, And if I leave
Speaker 1: one out, it's always that one, cause I just I
Speaker 1: just don't think she even gives it a chance of
Speaker 1: a decent conversation with anybody. She's wildly biased. She's the
Speaker 1: worst of all of them there. I wish Trump was
Speaker 1: better deflecting, you know, questions about the January sixthond or
Speaker 1: whatever it is, and turning it back toward you know,
Speaker 1: we're at war right now, Chris, and let's talk about
Speaker 1: oram getting a nuclear weapon or whatever as opposed to
Speaker 1: engaging in the twenty twenty election was stolen. Oh my god. Yeah,
Speaker 1: all right, next clip. When things turn even unclear, that's.
Speaker 2: How they are crooked, just like your crooked. Your press
Speaker 2: is cooked, and meet the present's crooked.
Speaker 3: To be fair, I'm not crooked.
Speaker 2: But well, you play right into the hands. You're either
Speaker 2: crooked or you're stupid. You play right into the hands
Speaker 2: with this step.
Speaker 1: You know that.
Speaker 2: These elections are rigged. Your network knows that they're rigged.
Speaker 1: That's got to be on the list of clips of
Speaker 1: the year, because that's quite a thing for a president
Speaker 1: to say. You're crooked. You're either crooked, you're stupid. Clip
Speaker 1: of the year. You say, we should probably hear it
Speaker 1: again before we judge that handsome if you would.
Speaker 2: That's how they bear crooked, just like your crooked, your
Speaker 2: press is cooked, and meet the press crooked.
Speaker 3: To be fair, I'm not crooked.
Speaker 2: But when you play right into the hands, you're either
Speaker 2: crooked or you're stupid, right clip you.
Speaker 1: Know, Oh that's a hostile I'm gonna a little uncomfortable.
Speaker 1: And that was the prelude to the end.
Speaker 3: Let's I want to talk about Tom.
Speaker 2: You have more evidence, there's more evidence than ever presented.
Speaker 2: Let's talk to your elections in this country. We're like
Speaker 2: a third world country if your elections are crooked, and
Speaker 2: your crooked, and meet the precious crooked, and so is
Speaker 2: ABC and CBS and CNN, your one sided crooked network.
Speaker 2: So let's call it quits because I've had enough.
Speaker 1: Thank you, darling, have a good time for president.
Speaker 3: Let's please, I traveled all the way to Wisconsin. I've
Speaker 3: got I know.
Speaker 2: On and off in the ring, and I've given you
Speaker 2: enough time you would to straighten.
Speaker 1: Out your press because you know what.
Speaker 2: Mister, country can never be great travel with it.
Speaker 3: Listen, we traveled all the way to Wisconsin.
Speaker 1: I thought that was a weird response from her. We've
Speaker 1: traveled all the way to Wisconsin. So you got on
Speaker 1: a private flight or first class or whatever you did,
Speaker 1: and you took an hour and a half flight from DC.
Speaker 1: And because of that, it's not like the Amazon Jungle Baby,
Speaker 1: it's Wisconsin. It's not Condistra and everything trail Wow Wow
Speaker 1: traveled all the way to Wisconsin. Wisconsin nights on their
Speaker 1: knees in gratitude. Thank you for gracing us with your
Speaker 1: New York presence, Please symbolo Wisconsins well and people who
Speaker 1: are watched these things. Who cares where the interview is
Speaker 1: or even knows ever, Yeah, some rain was falling though,
Speaker 1: that would be good for the farms. Yeah, Trump said,
Speaker 1: I sat here with you in the rain for an hour.
Speaker 1: I like that, Like they're out in the rain and
Speaker 1: they're both just sopping. Lord. That January sixth conversation made
Speaker 1: me really uncomfortable. I watched the whole bang thing. Trump
Speaker 1: is unwilling to budge at all that there were any
Speaker 1: bad actors there who did bad things at all. That's bad.
Speaker 1: It's all the FBI let them in there. It was
Speaker 1: a setup. Uh, And it's yeah, that's not good. The
Speaker 1: fact that she's let that go move on, change the topic.
Speaker 1: Something can't he can't. That's a no win except for
Speaker 1: a very small percentage of Americans. That's a no win topic.
Speaker 1: Yeah yeah. Graham Platner update coming up, plus a major
Speaker 1: many gender bending madness update. Fascinating little tidbit from the
Speaker 1: world of sports emerging from a lawsuit against a certain
Speaker 1: university that had a dude on the volleyball court whooping
Speaker 1: up on the girls. So there's an update on P Hustle.
Speaker 1: That vote is tomorrow right in Maine. So that's pretty exciting, correct, Yeah, cool,
Speaker 1: all on the way, stay here, Armstrong, Hey, geddy.
Speaker 4: Damning new report featured accounts from Platner's ex girlfriend's detailing
Speaker 4: allegations of rape fantasies, heavy drinking, and violent behavior. Platner's
Speaker 4: allies worry that these revelations will do irreparable damage to
Speaker 4: the reputation of Nazis.
Speaker 1: We'll talk more about P Hustle later. He's in the
Speaker 1: runoff tomorrow in Maine to see if he gets the
Speaker 1: shot at being the Democrats choice to run for the
Speaker 1: US Senate. US Senate is a big job. That's just horrific.
Speaker 1: More on him to come. A couple of stories from
Speaker 1: the world to college sports, whatever that is at this point,
Speaker 1: which I'll I bring on in a second. First of all,
Speaker 1: do you remember when San Jose State University was dominating
Speaker 1: their league in women's basketball because they had a dude
Speaker 1: on their team. Some people bizarrely refer to the man
Speaker 1: as a transgender woman, which is odd when he's not
Speaker 1: a woman at all. He's a man. Anyway. There's a
Speaker 1: Title nine lawsuit filed by a bunch of players against
Speaker 1: the California State University System San Jose State, that sort
Speaker 1: of thing. And part of the evidence that's been uncovered
Speaker 1: is that the coach, who's just identified as Coach one
Speaker 1: in the files, but it's got to be Trent Kurston,
Speaker 1: who is the head coach, has a bunch of quotes
Speaker 1: about how the dude is a good enough player to
Speaker 1: make us better, several comments about we need to recruit him,
Speaker 1: lure them away from where he's playing to play for
Speaker 1: San Jose State. But he used the term him, no,
Speaker 1: the player. It appears there was a little pronoun game
Speaker 1: being played direct quotes. I don't see any actual pronouns
Speaker 1: in his quotes. But here's the interesting part. Everybody, the
Speaker 1: coach and the university were fully aware that dude was
Speaker 1: a dude, and we're like, yeah, let's recruit a dude,
Speaker 1: because we'll win a lot of games. You know why,
Speaker 1: because he'll be playing against girls and men are bigger
Speaker 1: and stronger, and I bet we'll win a bunch of games.
Speaker 1: Just thing ridiculous, Great Scott. Anyway, more on that another time.
Speaker 1: Perhaps this story caught my ear partly because I've I know,
Speaker 1: I have a kid who's in grad school. I know
Speaker 1: a lot of my peers have kids in college. Some
Speaker 1: of them are athletes, and we talk about this stuff
Speaker 1: a fair amount, the whole name, image and likeness and yell.
Speaker 1: Compensation packages which range from you know, McDonald's money if
Speaker 1: you're on the lacrosse team maybe to just gigantic paychecks
Speaker 1: for your football and basketball stars. Some of it because
Speaker 1: you're a really good player, some of it because you're hot. Yeah,
Speaker 1: oh absolutely, But the real money, the big money, is
Speaker 1: going to the football stars. Now college athletes in your
Speaker 1: top tier sports are now professional athletes. And this story
Speaker 1: in the Fall Street Journal, it should be, says Jack, betraying,
Speaker 1: just murdering the spirit of amateur athletics. Is that what
Speaker 1: you're doing here? The coach makes twelve million dollars a year,
Speaker 1: the university gets one hundred and fifty million for their
Speaker 1: TV contract or whatever, and the player's supposed to do
Speaker 1: it for nothing when they're the draw. Yeah, well they're
Speaker 1: getting a college scholarship. Jack. I think the whole thing
Speaker 1: should go I'm a fool dance. I think the whole
Speaker 1: thing should go away. Why we've tied big time young
Speaker 1: people's sports to education makes no sense to me at
Speaker 1: this point. So here's a guy who didn't have the
Speaker 1: money to go to his high school prom, but and
Speaker 1: he's a freshman offensive lineman at the University of Colorado
Speaker 1: now where he's incoming last month flush from a six
Speaker 1: figure nil compensation package. Xavier Payne is the name returned
Speaker 1: to Florida to attend the Jones High prom with his
Speaker 1: old classmates. He arrived in one hundred and eighty thousand
Speaker 1: dollars Mercedes bring, a twenty five hundred dollars custom suit,
Speaker 1: eleven hundred dollars shoes, and a vintage Cardie watch he
Speaker 1: said was worth about forty thousand dollars. A lot of
Speaker 1: people said they didn't recognize me, he said. Welcome to
Speaker 1: the nil era. Young superstars are making prom into a
Speaker 1: cultural phenomenon all of their own part. Victory lap part
Speaker 1: personal branding opportunity, and they mentioned that elite football programs
Speaker 1: now expect recruits to graduate from high school in December.
Speaker 1: You gotta graduate early so you can be on campus
Speaker 1: in January to learn playbooks in train with teammates for
Speaker 1: the following fall. Yeah, makes sense. Freshman athletes across all
Speaker 1: sports this year, this year, next year will rake in
Speaker 1: seven hundred and eighty million dollars. Wow in compensation. Let's
Speaker 1: see ye from all these years. So essentially, yeah exploited. Sure,
Speaker 1: the University of Oregon wide receiver Decorian Moore, you got
Speaker 1: to eighty thousand dollars. There he is at prom with
Speaker 1: a sweetheart. They're looking very very sharp. God, how many
Speaker 1: great college athlete athletes through the years missed out on
Speaker 1: this bonanza? Oh yeah, I know they got to be
Speaker 1: looking back thinking, oh my god. Well, look, sometimes you know,
Speaker 1: if you go on and you make a lot of
Speaker 1: money in the NBA or whatever, the NFL, then you
Speaker 1: know you end up all right. But some people are
Speaker 1: just college stars. And then like Tim Tebow, how much
Speaker 1: money would he have made as a Heisman Trophy winner
Speaker 1: as the dominant player in college football for a couple
Speaker 1: of years flamed out in the NFL, but he would
Speaker 1: have made crazy money in college. Absolutely, yeah, yeah, high
Speaker 1: six figures in nil money. Yeah yeah. What is college
Speaker 1: sports anymore? You got dudes playing against girls, they're pros.
Speaker 1: What does even to mean? Scott Pelly embarrassed himself over
Speaker 1: the weekend. We've got some of that for you, among.
Speaker 5: Other things Armstrong and Getty.
Speaker 6: A lot of celebrities are expected to be at the
Speaker 6: Garden on Monday, including the biggest celebrity of all, a
Speaker 6: guy who draws bigger crowds than Martin, Luther, King, and
Speaker 6: Elvis without even playing the guitar combined. President Trump said
Speaker 6: he is planning to jurn New York, the first time
Speaker 6: Trump has appeared at a court in New York since
Speaker 6: being convicted of thirty four felonies.
Speaker 1: Wow, there's a lot of things to pick apart there.
Speaker 1: But the booze will be true. Jimmy Kimmel intioning Donald
Speaker 1: Trump will be it Game three of the NBA Finals
Speaker 1: tonight Madison Square Garden, and I assume it'll be announced
Speaker 1: and there'll be a rain of booze. I assume. I
Speaker 1: don't know. I could be wrong.
Speaker 5: I spoth boze. Chance hecals, cat calls, who knows, I'm
Speaker 5: more interested in the game. Knicks are up to nothing,
Speaker 5: winning the first two in San Antonio, so and Wemby
Speaker 5: had a chance to be like Cement to the beginning
Speaker 5: of his legend and threw the ball away at the
Speaker 5: very end of the game. So anyway, Uh, only Fox
Speaker 5: is reporting the Middle East the way they're reporting it.
Speaker 5: Everybody else is kind of going with, you know, like
Speaker 5: it's still tip for tat and ceasefire holds and stuff.
Speaker 5: Fox Tree Ink's particular has announced with the back and
Speaker 5: forth shooting over the weekend, the ceasefire is over.
Speaker 1: The war is on. This is a major escalation. Trump
Speaker 1: can't stop it, et cetera. There So, uh, it's interesting
Speaker 1: that the other channels are still treating it like we
Speaker 1: have treated that the last couple of weeks. Yeah, right right, Yeah,
Speaker 1: the ceasefire is holding in spite of the occasional tippy Yeah.
Speaker 1: I got this email from Tim. Then we'll move on
Speaker 1: to other fair No, really, this time, we're very very
Speaker 1: close to a deal. Yeah, yeah, I see your point, Tim,
Speaker 1: More on that later. So interesting piece in the New
Speaker 1: York Times Today opinion piece, A guest essay from a
Speaker 1: couple of economists labor economists. Why liberals what liberals get
Speaker 1: wrong about the middle class. It's basically that both parties
Speaker 1: are out there Trump to a certain extent, Burnie to
Speaker 1: a certain extent, going out there that the middle class
Speaker 1: has been screwed and you know, we're the party that's
Speaker 1: going to help you out, and everything like that, and
Speaker 1: who was it that did this a couple of weeks ago,
Speaker 1: got a lot of noise around. Look, the reason the
Speaker 1: middle class is scotten smaller is because so many people
Speaker 1: in the middle class have moved into the upper middle class,
Speaker 1: or the upper class is really the thing. Everybody's gotten
Speaker 1: richer at every level. Thinking about the middle class in
Speaker 1: this way obscures progress because it mixes inequality with people's
Speaker 1: living standards, and those are two very different things. These
Speaker 1: economists right of all places of the New York Times.
Speaker 1: In a recent report, we measured class using constant inflation
Speaker 1: adjusted thresholds. The core middle class shrank, but so did
Speaker 1: the classes below the middle the poorer, the near poor,
Speaker 1: and the lower middle class. Some statistics for you. In
Speaker 1: nineteen seventy nine, thirty six percent of families were in
Speaker 1: the middle class that would have been me and Joe
Speaker 1: and lots of people. At first, it looks ominous to
Speaker 1: say that now it's just thirty one percent in the
Speaker 1: middle class. But it's only worrisome if you overlook the
Speaker 1: fact that in the same period, the upper middle class
Speaker 1: grew from ten percent to thirty one percent. Upper middle
Speaker 1: class tripled since nineteen seventy nine, which would explain why
Speaker 1: none of us flew on a plane or anything like
Speaker 1: that back in the day, and now lots of people do.
Speaker 1: For instance, Yeah, people in pajamas and not wearing shoes
Speaker 1: for instance that hell, or eating out or lots of
Speaker 1: other different things that people didn't used to do it
Speaker 1: and now they do. Yeah. How about going from once
Speaker 1: a month to twice a day eat eating out right?
Speaker 1: Oh yeah, no kidding, taking sack lunch to work because
Speaker 1: eating out, going out to eat for lunch would have
Speaker 1: been insane back in the day, too expensive. Yeah. Meanwhile,
Speaker 1: the number of Americans falling short of the middle class,
Speaker 1: which used to be more than half, is now thirty
Speaker 1: five percent of all families. Wow, the traditional middle class
Speaker 1: shrank because so many families became better off over time,
Speaker 1: not because more people fell short. Inequality rose, but you know,
Speaker 1: for statistical reasons, and not in a way that you
Speaker 1: know it sounds like if you're Bernie Sanders and you
Speaker 1: have to inequality is at a record high. The higher
Speaker 1: up the income ladder of family reached, the more disproportionate
Speaker 1: the improvement, Rather than the rich getting richer and the
Speaker 1: poor getting poor. Rich and poor alike grew richer, albeit
Speaker 1: at different rates. And a lot of that would have
Speaker 1: to do is as you get richer, you're more likely
Speaker 1: to be in the stock market and and so your
Speaker 1: overall wealth grows. Yeah, there's no arguing that the upper
Speaker 1: upper upper class has gotten astonishing gains in the last
Speaker 1: decade especially, but that really doesn't affect you per se
Speaker 1: unless you have that bizarre belief that you know, all
Speaker 1: incomes should be spread, you know, evenly across society, which
Speaker 1: there's a name for it. Yeah. I never look at
Speaker 1: like my my holdings, that's a good term. I never
Speaker 1: look at my poor oh and k hardly ever or
Speaker 1: anything like that. And I did on Friday for some reason,
Speaker 1: I had to fill out some sort of form. Anyway,
Speaker 1: what the stock market has done over the last six
Speaker 1: months is incredible, just incredible, do you got any money
Speaker 1: in the stock market? Back to the essayists, our conclusion
Speaker 1: may seem at odds with popular views of the economy
Speaker 1: and the politics around issues such as affordability. Consumer sentiment
Speaker 1: in April hit a seventy four year low. Wow. Wow.
Speaker 1: What three quarter of a century low for consumer sentiment.
Speaker 1: Keep in mind that this downturn and sentiment has been
Speaker 1: a recent development, reflected elevated prices as wake of the
Speaker 1: pandemic and then gas all that sort of stuff. Moreover,
Speaker 1: about fifty percent of Americans rated national economic conditions as
Speaker 1: poor in the most recent Gallup survey. I'll skip that
Speaker 1: while we might expect dissatisfaction to have declined as income
Speaker 1: and wealth rose, this is the part that I really
Speaker 1: really like, and we mentioned it earlier in the show.
Speaker 1: This is the part that you should think about all
Speaker 1: day and every day for the rest of your I'm
Speaker 1: going to try to While we might expect dissatisfaction who
Speaker 1: have declined as income and wealth rose. Galloped polling also
Speaker 1: tells us that feelings about personal finances do not change
Speaker 1: when the national mood toward the economy changes. People seem
Speaker 1: to reset their expectations as they become wealthier. So you
Speaker 1: get wealthier, and you and then you move the goal
Speaker 1: posts stuck on what psychologists call a hedonic treadmill, with
Speaker 1: the same root as hedonism. We always want more than
Speaker 1: we have, however much we have. That is that that.
Speaker 1: I got to talk to my kids about this. I
Speaker 1: gotta talk to myself about it. I should put a
Speaker 1: sticky note on my mirror for when I shaved once
Speaker 1: a week to look at that. That's just human nature.
Speaker 1: And don't fall for it. Don't move the goal posts. Wow,
Speaker 1: the hedonic treadmill, or perhaps you prefer the pleasure peloton
Speaker 1: or the elational the point is the same. You're not
Speaker 1: getting anywhere. Well, that's excellent for your cardiovascular function. Uh.
Speaker 1: Those desires are now running into supply constraints. People who
Speaker 1: have grown wealthier want to send their kids to the
Speaker 1: best schools. But the number of best schools in quotes,
Speaker 1: and it should be in quotes because it's all this
Speaker 1: a whole bunch of horse ass.
Speaker 5: Uh.
Speaker 1: The number of best schools hasn't increased, although tuitions certainly has. Similarly, Similarly,
Speaker 1: there may be the more demand for bigger, nicer homes,
Speaker 1: but the housing supply of bigger, nicer homes. Hasn't kept
Speaker 1: up with people being richer. That's kind of funny. Let
Speaker 1: there be no doubt these economics right in the New
Speaker 1: York Times, the rising tide has lifted all boats notably,
Speaker 1: even if unequally, and it is not left everyday Americans
Speaker 1: stranded on the economic shore, as so many of our
Speaker 1: politicians are telling us. Yeah, yeah, huh uh. Like I
Speaker 1: said earlier, the way to do it. I think this
Speaker 1: is a handy. Everybody should do this. If you if
Speaker 1: you told you know, it depends on your age. I'm
Speaker 1: an old man. I'm in the winter of my life.
Speaker 1: I have a spent force with one foot in the grade.
Speaker 1: But yeah, like late winter. It's not like that first snowfall.
Speaker 1: More like when's it going to be spring? And there
Speaker 1: ain't no spring coming, old boy, unless you're a Buddhist.
Speaker 1: You know, pick an age twenty years before and if
Speaker 1: you if you told that young man or woman, younger
Speaker 1: man or woman, uh, what you would what you have now?
Speaker 1: Would they think cool? Or would they be disappointed? If
Speaker 1: they would think cool, oh good, where do I sign up?
Speaker 1: Then don't be unhappy with what you got. You're following,
Speaker 1: You're falling for the hedonic treadmill, right right, right, Uh,
Speaker 1: I agree one hundred percent. I was thinking about, all right,
Speaker 1: what explains this exactly? How do we get here as
Speaker 1: a society? But before I want to you know, okay, yeah,
Speaker 1: and then I'm gonna I it's sort of a little
Speaker 1: bit contradict the whole narrative here, just because very few
Speaker 1: things are one thing. There's often, you know, a little
Speaker 1: carrot in the stew. Joe's gonna go all Bernie Sanders
Speaker 1: on us. I am million ass and billion as h
Speaker 1: How did we get to this point where everybody has
Speaker 1: a bigger house, more cars, more travel, butter clothes, eats
Speaker 1: out all the time, blah blah blah. We're convinced for
Speaker 1: miserable number one. It's what you said the and I've
Speaker 1: been you know, in around advertising, the advertising industry since
Speaker 1: I was a teenager. It was my part time job
Speaker 1: in college working for an ad agency. And the entire
Speaker 1: purpose of advertising obviously is to get you to purchase
Speaker 1: goods and services or select one good and service or
Speaker 1: service over another. But it's it can be summarized as
Speaker 1: creating need, creating want, creating desire, and our advertising world
Speaker 1: has gotten so much more sophisticated than it was in
Speaker 1: nineteen seventy two. I mean, it's just brilliantly skillful. The
Speaker 1: visuals are amazing, computer technology, the writing, the research, the
Speaker 1: demographic knowledge of your audience, what blah blah blah, it's
Speaker 1: just amazing. So we've got those rising expectations that I
Speaker 1: think is a big part of why people now have
Speaker 1: much much higher expectations for what middle class life is.
Speaker 1: It used to be and not terribly long ago, much
Speaker 1: much simpler and more modest to be in the middle
Speaker 1: class in America. So much more about outdoor barbecues with
Speaker 1: your neighbors and little league games where there weren't little
Speaker 1: kids were in full uniforms, and team pictures and travel
Speaker 1: ball and the rest of it is much much simpler
Speaker 1: time anyway, So you got that it was funny Jack.
Speaker 1: As you were launching into this, I got an alert
Speaker 1: on my phone that National Review has a new article
Speaker 1: out the four sources of voters Economic Rage, and I thought, wow,
Speaker 1: that's amazing timing. And they go into the amazing numbers
Speaker 1: about the negativity of folks feelings about the economy that
Speaker 1: you were describing to us. Ah, gains in the job
Speaker 1: market the fight against inflation are real, not illusory. Blah
Speaker 1: blah blah. Democrats gleefully seizing on increased gas prices to
Speaker 1: explain the feelings of economic malaise. While gas prices are paidful.
Speaker 1: These parallel economic realities are a more persistent phenomenon than
Speaker 1: any individual price shock, and these reasons are more structural
Speaker 1: than immediate. At least four of the largest stressors on
Speaker 1: the aspiring middle class family are not tied to weekly
Speaker 1: or monthly economic indicators. Instead, they are found in the
Speaker 1: cost of basic middle class staples, housing, healthcare, education, and childcare.
Speaker 1: And for many these costs are unavoidable and have been
Speaker 1: rising at rates well above inflation and wage growth for decades.
Speaker 1: So that's again, I don't want to contradict the bigger
Speaker 1: point because it's but housing, healthcare, education, and childcare have
Speaker 1: skyrocketed in cost in recent decades, and they're putting a
Speaker 1: squeeze on the middle class. You know, one of the
Speaker 1: couple of paragraphs I left out that article, I should
Speaker 1: have mentioned that they bring up the term American dream
Speaker 1: a number of times and just refute the idea that
Speaker 1: the American dream is dead. I mean, if you see
Speaker 1: the American dream as moving up from where you know
Speaker 1: your your parents were lots and lots and lots, and
Speaker 1: people have well, every every segment of what class you're
Speaker 1: in has moved up. Yeah, over the last decades. Yeah,
Speaker 1: you know. I think the term American dream is thrown
Speaker 1: around loosely and everybody uses it for their own purposes.
Speaker 1: But I'd simplify it even further. Whether your parents were
Speaker 1: rich or poor, whatever, if you're smart in your work hard,
Speaker 1: you can have a pretty damn good life regardless of
Speaker 1: who your people are. See to me, the American Land
Speaker 1: of opportunity, to me, it's just belittling foreigners. So and
Speaker 1: I feel like that's always a lot that's certainly fun.
Speaker 1: I don't know if it's the American dream. Let's start
Speaker 1: with the Canadians. Come on, I kid, I love Canadians,
Speaker 1: do you I do. Actually, I've been watching I have
Speaker 1: not minised. Well, I almost lied. I was gonna say
Speaker 1: I have not missed a minute of the Stanley Cup
Speaker 1: Finals in hockey, but I missed one of the overtime
Speaker 1: periods because I knew it went to double lot And yeah, anyway,
Speaker 1: my beloved Carolina hurricane down two to one, So they
Speaker 1: hated Las Vegas Knights. Yes, Golden Knights, not just any knights,
Speaker 1: very trumpy Golden Knights. Speaking of that, we do need
Speaker 1: to check in on where things are with the Warren
Speaker 1: Iran because it's the Houthis have decided to shut off
Speaker 1: on other shipping lane, or at least that's what they
Speaker 1: announced about an hour ago. One of Iran's proxies jumping
Speaker 1: on well, lots on the ways stay here. Spencer Pratt
Speaker 1: is not going to make the final two in Los Angeles,
Speaker 1: and I know Trump is trying to make noises than
Speaker 1: some people are that it's about stolen elections. I think
Speaker 1: it's worse than that. That would be good news. That'd
Speaker 1: be good news if it was stolen. The bad news
Speaker 1: is no blue cities and states sometimes are willing to
Speaker 1: just wreck there where they live rather than try something different.
Speaker 1: To me, that's the bad news. Yeah, I would agree anyway.
Speaker 1: So we got a great note from Steve. I won't
Speaker 1: go into it, but he lives in another state, who
Speaker 1: says what bothers him is people flee the results of
Speaker 1: those votes and go to other states and insist on
Speaker 1: those same policies in those news states, which is weird.
Speaker 1: I don't be unable to connect policy with outcome. I
Speaker 1: don't get that at all. Babylon B with the headline
Speaker 1: Democrats push for death certificates to be accepted as voter ID.
Speaker 1: I thought that was pretty funny. That is pretty funny.
Speaker 1: Different Babylon BE headline. I found funny. This came up
Speaker 1: last week with Joe. Actually, man, I'm sure if he's
Speaker 1: becoming more virtuous with age or just too tired to sin,
Speaker 1: that would be like when your computer wasn't working and
Speaker 1: you didn't lose your temper and you you thought, maybe
Speaker 1: you know, you've reached some sort of level of calm
Speaker 1: or boodle like acceptance as opposed to just low tea. Yeah,
Speaker 1: who cares, Well, that's you told. You used that on
Speaker 1: me the first time something happened. I don't remember what
Speaker 1: it was, and I didn't get mad about it, and
Speaker 1: I was very happy about And he said, you know
Speaker 1: why that is? You just have lower testostero than you said,
Speaker 1: Oh crap, Yeah, I got neither. I was hoping for
Speaker 1: personal growth and it's just lower testosterone and started to
Speaker 1: disappoint you. I got neither. Fight nor flight in me.
Speaker 1: I'd just rather sit here. That's disappointing. Yeah. Sorry, there's
Speaker 1: got to be some personal growth in there, doesn't there?
Speaker 1: Or maybe there's not. Maybe it's just yeah, absolutely sure,
Speaker 1: they're both factors. We'll just say that, Okay. I had
Speaker 1: one more Babylon boing to get to. I kind of
Speaker 1: like this one. Dave Ramsey to host new cooking show
Speaker 1: where he yells at contestants as they try to cook
Speaker 1: meals on a budget. Me a show we're actually worth watching?
Speaker 1: Is that for real? No Babylon b show? Oh? Sorry?
Speaker 1: And uh? And one more Babylon bee Chinese restaurant owner
Speaker 1: retiring to spend less time with family. I get it, boy.
Speaker 1: And they're always so mad at each other. God, I'd
Speaker 1: forgotten remember that one restaurant I used to go to.
Speaker 1: I used to talk about all the time. His husband
Speaker 1: and wife would just scream at each other in Chinese
Speaker 1: and just but they clearly just hated each other. Wow. Wow,
Speaker 1: that'd be so funny. There's hardly anybody there in the
Speaker 1: restaurant at all. Might come in there and you know,
Speaker 1: there's three of us or whatever, and he just screaming
Speaker 1: and screaming and then shake her head and lead you
Speaker 1: to the table. Do you figure it continued at home?
Speaker 1: Or maybe when they get home they shut the door.
Speaker 1: It's like, hey, baby, I don't know what do you
Speaker 1: want to do tonight? Oh I got something for you.
Speaker 1: Big daddys festering resentment. First customers of the evening. They're
Speaker 1: screaming at each other. We should be so pissed off already.
Speaker 1: I should have gotten ying Ma or somebody I know
Speaker 1: who speaks fluent Chinese to come with me. Just ye,
Speaker 1: you gotta tell me what they're saying. I really really
Speaker 1: want to know. Scott Pelly, former host of sixty Minutes,
Speaker 1: embarrassed himself in a New York Times interview over the weekend,
Speaker 1: and he doesn't even know it. We got that and
Speaker 1: other stuff coming an hour Turn Armstrong and Geddy