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Speaker 1: Hello, everybody, Welcome to our Friday show with Ryan and Emily.

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Speaker 1: Just as a reminder for premium subscribers, this entire Friday

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Speaker 1: Just do us a favor if you can, like, subscribe

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Speaker 1: and share this video and or this podcast. And so

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Speaker 1: with that, let's kick it over to Ryan and Emily.

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Speaker 2: Good morning, Thank you so much for joining us on

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Speaker 2: another exciting Friday show.

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Speaker 3: Ryan, how you doing, I'm doing well? How about yourself?

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Speaker 2: Good? Have a good Friday to everyone. We're missing Crystal

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Speaker 2: and Sager today. They'll be with us in spirit, for sure.

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Speaker 2: They helped come up with a lot of the things

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Speaker 2: we're going to talk about today, so at least they

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Speaker 2: will be with us through the elements that they have chosen.

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Speaker 3: Yes, exactly, We're just we're at we're at their mercy

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Speaker 3: here today.

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Speaker 2: Yes, now, Ryan, I know that you have an update

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Speaker 2: on one of our favorite guests, Drop site writer Abu Baker.

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Speaker 3: Yes, if the people might have noticed this on social media.

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Speaker 3: They have, and they should go go check out Abu

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Speaker 3: Baker's feed, you know, after a long and agonizing decision

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Speaker 3: and also then process, you know, he has left Gaza. Uh,

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Speaker 3: he'll he'll have more to say about, you know, where

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Speaker 3: he's going, what he's what he's doing next. I could

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Speaker 3: say that Jeremy is with him now. Uh. This the

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Speaker 3: story of of you know, get of getting out is

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Speaker 3: one that is you know, harrowing, and that I think he'll,

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Speaker 3: you know, he'll he'll want to tell it himself, So

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Speaker 3: I don't want to take anything away from that. Uh.

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Speaker 3: People should also remember this is his first time ever

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Speaker 3: leaving Gaza, so, you know, setting aside the unbearable, unthinkable

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Speaker 3: experience that he's had over the past eighteen months, to

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Speaker 3: leave Gaza for the first time in your life, in

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Speaker 3: your twenties and to see the world with those eyes

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Speaker 3: for the first time must be just an unimaginable perspective

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Speaker 3: and it will be I think a fascinating one because

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Speaker 3: he'll he'll be seeing the world, you know, through through

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Speaker 3: that perspective, and which would I think will help us,

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Speaker 3: you know, see that world in kind of a new way.

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Speaker 3: If it was an agonizing decision that no human beings

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Speaker 3: should be forced to make to either, you know, stay

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Speaker 3: with your family, stay with your people, stay committed to

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Speaker 3: what you're doing and quite plausibly die of malnutrition, or

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Speaker 3: leave your family, leave your people, and and pursue the

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Speaker 3: fight from elsewhere. Like it's it's a choice that I

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Speaker 3: can't even imagine what it must be like to have

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Speaker 3: had to wrestle with that. I'm thankful that he's that

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Speaker 3: he's safe right now.

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Speaker 2: Yeah, we're excited, I think to be able to hear

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Speaker 2: more from him about how harrowing exactly that journey was.

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Speaker 2: Brian looks like my camera just DROs again. There it is, okay,

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Speaker 2: So we have a lot to get through because the

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Speaker 2: case of Kilmar Abreo Garcia continued to be there were

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Speaker 2: developments throughout the day yesterday in the case of Kilmar

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Speaker 2: Aberdo Garcia, but also ran. There's a drop site, a

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Speaker 2: drop site scoop that we're actually going to start with

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Speaker 2: about deportations and people having trouble with their ability to

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Speaker 2: remain in the United States. We'll get in all of that.

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Speaker 2: We're going to talk about some market updates. Elizabeth Warren

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Speaker 2: actually did battle on CNBC yesterday, So we have some

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Speaker 2: cool clips from that and more from Bernie and Aosi's

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Speaker 2: war on the Democratic Party or the Democratic Parties war

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Speaker 2: on Bernie and aoc H. And we'll be joined by

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Speaker 2: the author of the squad for that block. That's of course,

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Speaker 2: Ryan Grim. All right, Yeah, I can put this drop

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Speaker 2: side element up on the screen. This is a scoop

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Speaker 2: that you guys got yesterday.

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Speaker 3: I would I would call this a I would call

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Speaker 3: this a Huffington Post level scoop in the sense that

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Speaker 3: it wasn't ours. A terrific reporter Jackieano's for The Florida

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Speaker 3: Phoenix has been has been tracking this story. But what

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Speaker 3: we used to do it so effectively at the Huffington Post,

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Speaker 3: in which we still do at which we still do

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Speaker 3: with our social media feed, is we'll we'll try to

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Speaker 3: elevate things that that the rest of the national media

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Speaker 3: is missing and the Beadia had missed this. The story

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Speaker 3: is why and it had I guess it has a

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Speaker 3: good ending at this point. He was one Carlos Lopez Gomez,

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Speaker 3: who was at the center of it, was eventually freed

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Speaker 3: late late yesterday, But effectively, what happened. Florida passed a

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Speaker 3: law that says that if you bring an unauthorized alien

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Speaker 3: into the state of Florida, you know, that is a

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Speaker 3: state crime, on top of it being a federal crime

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Speaker 3: in a matter for ice. And so this guy, Lopez

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Speaker 3: Gomez was driving from Georgia, or he was in a

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Speaker 3: passenger seat coming from Georgia to Florida. They got pulled

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Speaker 3: over and he didn't speak English, and so they arrest

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Speaker 3: him and hold him. It turns out he was born

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Speaker 3: in Georgia. When he was one, he moved to southern

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Speaker 3: Mexico and basically grew up there, and he grew up

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Speaker 3: speaking a Mayan language. You should tell I think it's

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Speaker 3: called People can correct me on that. It's a very

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Speaker 3: common language in Guatemala and southern Mexico. And obviously it

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Speaker 3: has been spoken on this continent for I guess probably

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Speaker 3: thousands of years at this point, which is, let's underscore

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Speaker 3: the irony here of you know you're here speak English.

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Speaker 3: It's like, well, England is a is an island that's

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Speaker 3: many thousands of miles away from here. This is a

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Speaker 3: language that's been spoken here for thousands of years. Setting

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Speaker 3: that aside, the cops are like confused by this situation.

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Speaker 3: At best, they arrest him. He gets his he gets

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Speaker 3: his day in court, and his mother shows up with

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Speaker 3: his birth certificate and his Social Security card, which, Okay, Florida,

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Speaker 3: Florida cops made a mistake. Let let the guy go.

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Speaker 3: The Florida prosecutor insists on holding him and says that

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Speaker 3: there is also a an ICE order that he be

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Speaker 3: held because now you know, Florida is cooperating with ICE

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Speaker 3: on all of these matters. And the judge in the case,

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Speaker 3: you know, she holds up the birth certificate, she's holds

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Speaker 3: it in the lights. I see the watermark. This is

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Speaker 3: an authentic birth certificate. There's an authentic Sold Security card.

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Speaker 3: This is an American citizen. But I'm a state judge.

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Speaker 3: The prosecutor and ier insisting that this man continued to

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Speaker 3: be held and so I have no authority to release him.

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Speaker 3: It was only then after there was a huge outcry

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Speaker 3: and this incident kind of took on viral velocity that

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Speaker 3: that they that they announced that they were going to

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Speaker 3: be releasing him. Now, what if they had decided in

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Speaker 3: that time to ship him to El Salvador, m Like,

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Speaker 3: you know, and then they could say, well, we made

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Speaker 3: a mistake. It turns out that he is a citizen.

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Speaker 3: This was an authentic birth certificate. That's our bad. We

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Speaker 3: made a mistake. We acknowledged that we made a mistake.

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Speaker 3: But who are we to tell Boo Kelly you know,

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Speaker 3: what to do with people that are in his custody.

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Speaker 3: There is no gap in the legal life that applies

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Speaker 3: to a Brigo Garcia that they're applying to a Brigo

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Speaker 3: Garcia that would have that wouldn't apply to this, uh,

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Speaker 3: this American citizen here. So hopefully this is the end

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Speaker 3: of the the end of it for Lopez Gomez. But

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Speaker 3: you know, it's only April, and they're already, you know,

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Speaker 3: detain you know, they already had detained an American citizen,

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Speaker 3: and it'd be one thing was a mistake, and okay,

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Speaker 3: sorry about this once they saw his birth certificate and

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Speaker 3: sold security card from his mother, and and they still

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Speaker 3: insist it's one thing is that judge is powerless. The

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Speaker 3: prosecutor was not powerless. Ice was not powerless. They insisted

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Speaker 3: on pushing through the evidence in front of their face

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Speaker 3: that he was an American citizen, and insisted on continuing

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Speaker 3: to detain him. The I guess the only upside is

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Speaker 3: that public pressure still means something like that. That's that's

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Speaker 3: a hopeful sign. But I don't know what what did

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Speaker 3: you see this circulating on the right or did this

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Speaker 3: happen too quickly to No, I didn't.

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Speaker 2: See its circulating all. No, I didn't see its circulating

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Speaker 2: on the right at all. But before we get into actually,

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Speaker 2: I think this is a good segue into the clip

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Speaker 2: of Tim Burchett that we wanted to play, because before

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Speaker 2: we get into Abrigo Garcia and the dangers when you

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Speaker 2: start at treating American citizens, uh, in this way, I

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Speaker 2: want to roll this interview from Tim Burchett is a

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Speaker 2: Republican congressman. Probably have seen him on CNN and he

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Speaker 2: does that all the time, But this time he's on

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Speaker 2: News Nation, uh, talking about whether or not American citizens,

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Speaker 2: as the President has floated, should go to places like

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Speaker 2: Seacott in Al Salvador. So let me pull this up

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Speaker 2: right now.

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Speaker 1: And some are wondering, though, if it's a slippery slip,

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Speaker 1: what's your reaction to President Trump suggesting that homegrown criminals

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Speaker 1: could be sent to El Salvador next American citizens?

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Speaker 4: They're criminals. They broke our laws. They need to suffer

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Speaker 4: our punishment. But I don't want Donald Trump teaching my

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Speaker 4: daughter's Sunday school class. But Dad got my like him

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Speaker 4: in the White House because he understands the rule of law.

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Speaker 4: I feel like in America is sick of this stuff.

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Speaker 2: Okay, So, Ryan, I Burchett basically said they're criminals, they

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Speaker 2: should follow our laws. And I mean, did he listen

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Speaker 2: to the question, Like I don't. That's what I was

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Speaker 2: just going to say.

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Speaker 3: But either way, it's you know, if you think questions

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Speaker 3: that should Americans be sent to a dungeon in a

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Speaker 3: foreign country, you would listen to the question.

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Speaker 2: Well, yeah, but he I, Yeah, exactly. He did the

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Speaker 2: sort of thing that Republican congressmen often do when asked

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Speaker 2: about Donald Trump, which is just sort of deflect and

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Speaker 2: move on to your sort of general talking point. I

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Speaker 2: don't want him teaching my daughter's Sunday school class, but

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Speaker 2: you know, he's right for the American people, And I

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Speaker 2: just it's so the reason I wanted to talk about

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Speaker 2: this clip in that context. To your point, Ryan, an

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Speaker 2: American citizen gets sent to El Salvador and lawyers can't

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Speaker 2: get in touch, and it's up to the Calae to

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Speaker 2: bring people unless we want to do like a military

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Speaker 2: invasion of El Salvador. I mean, it's just the things

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Speaker 2: that they're playing with here are so they're just so disturbing.

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Speaker 2: And one of the other reasons I want to talk

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Speaker 2: about this is the the some people on the rights

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Speaker 2: bul fetish is so weird, and I think.

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Speaker 3: That Palestinian.

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Speaker 2: This is Trump's favorite insult. Yeah, but it's not. I mean,

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Speaker 2: it's not inexplicable, and it's not everyone, but it is

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Speaker 2: so weird. Like, we can take care we have our

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Speaker 2: own law enforcement. Do we not believe that we're, you know,

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Speaker 2: on the right. Do we not believe that we're the

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Speaker 2: greatest country in the world. Do we need to be

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Speaker 2: outsourcing our law enforcement to El Salvador? Give me a break.

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Speaker 3: Yeah. To me, it reflects a real contempt, within a

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Speaker 3: signal constrain of the right for the American values, in

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Speaker 3: American capacity to handle our own problems. I think I

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Speaker 3: think you're right, like and you even see it reflected

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Speaker 3: slightly in jd Vance's fighting with z and everybody else

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Speaker 3: on Twitter over the last few days, where he keeps

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Speaker 3: throwing his hands up and saying what do you want

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Speaker 3: us to do? You know, Biden let in millions of

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Speaker 3: people illegally, what what do you want us to do?

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Speaker 3: It's like, well, if you don't like the laws that

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Speaker 3: are on the books, then take the campaign pledges that

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Speaker 3: you made while you ran for office, take them to

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Speaker 3: Congress and write new laws like you already the Democrats

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Speaker 3: already show like and then you hear push, oh the

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Speaker 3: Democrats won't vote for it. Well, then you get rid

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Speaker 3: of the filibuster. If you want, you have, you have

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Speaker 3: the votes. Also, Democrats have shown they're they're willing to

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Speaker 3: be utterly spineless and give you whatever you want. On

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Speaker 3: the question of immigration, you know the Lake and Riley

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Speaker 3: Act I don't allows h immigration authority is to go

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Speaker 3: back and deport anybody who has been charged with a crime. Charged, accused,

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Speaker 3: that's it, just charged there there. You don't even have

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Speaker 3: need to have due process. That's just process. All you

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Speaker 3: have to do is write up a charge and Democrats

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Speaker 3: rubber stamp that for you. So you're telling me what

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Speaker 3: the this weak little opposition party that Republicans can't find

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Speaker 3: a way to use America's system of government to create

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Speaker 3: the kind of process that they believe is a just

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Speaker 3: way to respond to what they see as the injustice

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Speaker 3: of Bind's immigration policy. Like if you don't, if you

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Speaker 3: don't even think that you have the capacity to do

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Speaker 3: that as a governing majority, and you have to outsource

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Speaker 3: it to this tinpot dictator in El Salvador, don't you

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Speaker 3: have some sense of shame? Like don't you have any

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Speaker 3: self respet act? Like I find it.

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Speaker 2: A little bit emasculating, to be honest, these Republican congressman

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Speaker 2: to go to the prison and pose with like bou

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Speaker 2: Kelly's prisoners.

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Speaker 3: It's just awful, it isn't it's it's really embarrassing. Yeah,

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Speaker 3: don't you do you have no dignity that this is

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Speaker 3: like this is your king? Yeah, it's really looks he

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Speaker 3: looks good in sunglasses, Like, but is that your bar He.

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Speaker 2: Looks like he's like a theater kid when he's putting

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Speaker 2: his sunglasses on.

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Speaker 3: I was trying to be generous to him, but you're.

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Speaker 2: But in all seriousness, let's get into some of this

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Speaker 2: book Cala abrego Garcia stuff. Because also it's just like

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Speaker 2: the Trump administration is pejoratively referring to Zelenski as a dictator.

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Speaker 2: I actually I think there's some meat on those bones.

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Speaker 2: You can make that argument pretty well. But Kelly walks

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Speaker 2: around calling himself a dictator, right, it's a cool dictator.

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Speaker 3: Don't they call itself a cool dictator?

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Speaker 2: Well, it's coolest dictator. Yeah.

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Speaker 3: Nobody, by the way, who's cool has ever called themselves cool.

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Speaker 3: Just let's let's be clear about that before we go

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Speaker 3: to abrio Garcia. Let's just put it real quickly. This uh,

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Speaker 3: this like lunatic thing that's going on in uh, not

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Speaker 3: just Pennsylvania, but you've got all these American citizens who

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Speaker 3: are reporting and and you've got their immigration attorneys vouching

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Speaker 3: for the fact that these are all authentic. Get they're

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Speaker 3: just like ICE is now spamming people telling them to

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Speaker 3: get out of the country, including a bunch of American citizens.

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Speaker 3: This one here, Lisa Anderson, born in Pennsylvania, you know,

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Speaker 3: said that she's never had any interaction with immigration ever,

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Speaker 3: and she got an email telling her like this doctor

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Speaker 3: like telling her get out of the country. It would

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Speaker 3: be it would be ironic if ICE is profiling doctors,

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Speaker 3: like assuming that if you're a doctor, you weren't born

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Speaker 3: here in this country, like what what would that say

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Speaker 3: about ICE's confidence American born people here like, oh, oh

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Speaker 3: you're a doctor, you're probably an immigrant. I think if

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Speaker 3: that's the situation where ICE has found itself, I think

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Speaker 3: we have a a lot bigger problems than the number

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Speaker 3: of people that Biden led into the country.

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Speaker 2: So Chris van Holland, Maryland Democrat senator obviously had a

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Speaker 2: hell of a day yesterday. Let's get into some of that.

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Speaker 2: So first he had been denied access into Seacott. So

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Speaker 2: that's the maximum security massive prison that according to a

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Speaker 2: Wall Street Journal report, I think that just came out yesterday,

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Speaker 2: Bukellay is planning to expand basically double in size. The

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Speaker 2: sourcing was basically Christy Nome to the Wall Street Journal

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Speaker 2: story saying that bu Kelly is planning and really because

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Speaker 2: already one in fifty seven Salvadorian citizens is locked up.

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Speaker 2: It sounds like, and this is the dots that the

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Speaker 2: Wall Street Journal connected, that's going to be deportations, deportees

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Speaker 2: from the United States. That's sort of the plan.

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Speaker 3: So growth industry.

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Speaker 2: Yeah, so if we are working with El Salvador to

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Speaker 2: do that, so many more questions to be asked. We'll

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Speaker 2: see how that develops. But Chris van Holland tried to

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Speaker 2: get in yesterday because that's where Abrallo Garcia is being held,

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Speaker 2: and that did not go well for him. So then

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Speaker 2: we got we received actually this picture. Let me share

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Speaker 2: this one Kilmar Abrago Garcia. This is a tweet from

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Speaker 2: Boucel miraculously risen from the quote death camps end quote

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Speaker 2: torture now sipping Margarita's with Senator Van Holland in the

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Speaker 2: tropical paradise of Al Salvador. Ryan reaction to this.

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Speaker 3: I mean, on the one hand, I think this is

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Speaker 3: like Chris van and we live in a cynical age.

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Speaker 3: But I think Chris van Holland deserves, you know, some

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Speaker 3: serious credit, whether you agree with them or disagree with them.

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Speaker 3: Like he he saw what he believed to be an

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Speaker 3: injustice that was being carried out against his constituent. And

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Speaker 3: if you don't think that a resident counts as a constituent,

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Speaker 3: you can count his wife, who is this constituent. And

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Speaker 3: he went down to El Salvador to try to write

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Speaker 3: that injustice. Van Holland has an interesting backstory, like the

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Speaker 3: kind of what you would call deep state connected. Both

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Speaker 3: his mother and father worked in either the State Department

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Speaker 3: or the CIA. Van Holland himself was actually born in

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Speaker 3: Pakistan while while his uh while his while his parents

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Speaker 3: were like stationed over there. He was a Senate Foreign

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Speaker 3: Relations staffer before becoming a senator, and he and Peter

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Speaker 3: Galbraith kind of famously snuck into northern Iraq after Saddam

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Speaker 3: Hussein's nineteen ninety one kind of attack on the Curve.

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Speaker 3: If people know the history of this, it was this

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Speaker 3: kind of almost genocidal attack on an uprising in northern

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Speaker 3: Iraq where he used where he used weapons of mass

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Speaker 3: destruction against them, and Van Hollen snuck into northern Iraq

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Speaker 3: through Syria, through Turkey, I mean, and secreted it out

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Speaker 3: an enormous trunch of evidence to like validate the claims

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Speaker 3: that were being made that Saddam Hussein had done this

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Speaker 3: and had used these chemical weapons against the Kurds who

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Speaker 3: people kept calling his own people. He gassed his own people.

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Speaker 3: Courage did not like it if you would call call

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Speaker 3: him Saddam Hussein's people. So this is a guy who

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Speaker 3: has worked within the system, and he's part of the system,

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Speaker 3: but he's always been willing to take risks as well.

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Speaker 3: And so I think the fact that the fact that

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Speaker 3: he pressured Bukelli not just to meet him, but to

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Speaker 3: get him out of the prison certainly undermines Bukelli's Trump's

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Speaker 3: claim that you can't do that. What bo County and

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Speaker 3: Trump were leaning on was too bad. This is a

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Speaker 3: this is a prison for terrorists, and you know, you

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Speaker 3: go in and you come out in a box like

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Speaker 3: that's it, there's no way out, and you know you

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Speaker 3: still have JD Vance online saying, look, the guy deserves

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Speaker 3: to be deported, continuing to allie the issue, which is

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Speaker 3: should he be held for life in a in a

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Speaker 3: prison notorious for its like unspeakable conditions, which is a

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Speaker 3: different question than should somebody be deported from one country

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Speaker 3: to another? What did you? What did you make of?

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Speaker 3: It feels like the right is almost kind of enjoying this,

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Speaker 3: like that they think they're winning this.

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Speaker 5: Well.

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Speaker 2: I mean, so, Chris van Holland, I think there's I

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Speaker 2: think what he did was legitimately personally brave, like physically brave,

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Speaker 2: but I think he is not walking the fine line

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Speaker 2: between treating a Brigo Garcia as a victim and a martyr.

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Speaker 2: And I think a Brego Garcia is a victim of

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Speaker 2: a bad poula see by the Trump administration. I think

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Speaker 2: the right is significantly downplaying how grave of a quote

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Speaker 2: unquote mistake it was to just say, whoops, sorry, he had.

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Speaker 3: This withholding literally like whoopsie, oh he said.

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Speaker 2: That about the Venezuelan plane that was about he may

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Speaker 2: have been a break up. Garcia actually may have been

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Speaker 2: on the plane.

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Speaker 3: Probably on that plane yet because it was part of

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Speaker 3: that deportation.

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Speaker 2: Yeah, yeah, he may have been on that plane. And yeah.

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Speaker 2: The so anyway, all that is to say that is

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Speaker 2: I mean, it is not just a minor error. That

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Speaker 2: is a significant error. He had the withholding order. He

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Speaker 2: was you know, in a legal process with our country

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Speaker 2: and was just sent somewhere. Court said that he could

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Speaker 2: not be sent to The Trump administration did nothing to

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Speaker 2: rectify it and basically laughed the entire way. That was

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Speaker 2: a huge mistake. I think Van Hollens is creeping into

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Speaker 2: significantly creating creeping into martyr territory. I think politically, I'll

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Speaker 2: get to the substance in a second. I think politically

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Speaker 2: it looked pretty I think the White House got them

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Speaker 2: when they brought the mother of the woman who was

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Speaker 2: the girl who was killed in Maryland to the White

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Speaker 2: House press briefing. I think that was really a brutal

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Speaker 2: look for Chris ben Holland. Yeah, I think you disagree.

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Speaker 3: Yeah, right. And so the hit was that there was

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Speaker 3: a murder victim in Maryland and Van Holland had not,

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Speaker 3: like called the mother. I had bad news about Maryland,

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Speaker 3: that a lot of people get murdered in Maryland, and yeah,

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Speaker 3: good if every senator called every every parent of every

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Speaker 3: murder victim. The strong implication from the White House there

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Speaker 3: was that kill mar Albrigo Garcia had killed.

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Speaker 2: This No, no, no, no, I think.

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Speaker 3: What's it like, what exactly is the the.

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Speaker 2: Mom point the mom was saying, you are exerting all

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Speaker 2: of this effort to bring home this man who was

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Speaker 2: in the country, who crossed through the country illegally and

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Speaker 2: was deportable, not deportable to El Salvador, but was deportable,

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Speaker 2: and you didn't devote enough attention to the problem that

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Speaker 2: led to my daughter's death. That was the contention. I

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Speaker 2: think that is. I think that hits home with a

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Speaker 2: lot of people. That's just the politics of it, the

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Speaker 2: substance of it. Yeah, I think Van Holland is treating

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Speaker 2: him more as a martyr than a victim, and I

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Speaker 2: think he is a victim. But because your victim doesn't

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Speaker 2: mean you have to be sort of treated as someone

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Speaker 2: who's like a martyr in and of itself. Now, that said,

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Speaker 2: the Trump administration's position on this is absolutely insane and

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Speaker 2: was also not good for the Trump administration. So it's

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Speaker 2: not like the everyone's a It's not like there are

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Speaker 2: any I don't think there are any real winners here

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Speaker 2: at the end of the day.

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Speaker 3: And I think it is it is. It is always

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Speaker 3: difficult in politics to stand up for a principle if

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Speaker 3: if your case is not you know, absolutely perfect.

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Speaker 2: Yeah, we have Jesse Waters talking about this. Did you

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Speaker 2: see this clip, Brian.

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Speaker 3: No, let's I did see this. You want to roll

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Speaker 3: this and then we can talk about it.

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Speaker 2: Yeah, because you were just getting into this argument that

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Speaker 2: he starts making. Here, here we go, Jesse. You have

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Speaker 2: to have a victim that is pure.

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Speaker 6: You can't have a Floyd, you can't have a Smolette,

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Speaker 6: you can't have a Garcia.

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Speaker 2: Your example, a victimhood.

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Speaker 6: Has to be a sympathetic victim, not someone who beats

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Speaker 6: his wife.

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Speaker 2: And traffics humans. And so his wife did get successfully

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Speaker 2: get a temporary abrego. Garcia's wife did successfully get a

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Speaker 2: temporary restraining order with really awful allegations of violence towards her.

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Speaker 2: But right to the point that you were making, when

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Speaker 2: our courts are violated, it's unsympathetic victims that you sort

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Speaker 2: of bring out the principles among lawmakers, elected officials and

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Speaker 2: the political class.

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Speaker 3: Right right and for for Jess by the way, on

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Speaker 3: the on the on the domestic violence. So his wife

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Speaker 3: has since come out and said that she had previously

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Speaker 3: been in a in a in a violent relationship and

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Speaker 3: that she got into a fight with Kilmar that did

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Speaker 3: not turn violent at all, and in order to and

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Speaker 3: because of the trauma that she'd been through before, she

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Speaker 3: kind of made up some of that stuff so that

433
00:25:36,800 --> 00:25:39,520
Speaker 3: she could get have a restraining order like ready to

434
00:25:39,520 --> 00:25:41,640
Speaker 3: go in case she needed it. Like that's what she's

435
00:25:41,720 --> 00:25:45,560
Speaker 3: that's what she says. Now. Uh. The irony of Jesse

436
00:25:45,680 --> 00:25:50,040
Speaker 3: Waters now being a believe all women like me too supporter,

437
00:25:50,880 --> 00:25:55,919
Speaker 3: like he has finally found he has finally found allegations

438
00:25:55,960 --> 00:25:58,879
Speaker 3: against a man that he is like immediately willing to

439
00:25:58,960 --> 00:26:02,639
Speaker 3: accept shut just Wow, how what what a coincidence that

440
00:26:02,720 --> 00:26:06,800
Speaker 3: he's become this like me too, champion. But yeah, you're right,

441
00:26:06,880 --> 00:26:09,760
Speaker 3: like when you're standing up for a principal, you have

442
00:26:09,800 --> 00:26:13,040
Speaker 3: to stand up for it, like no, no, no matter what,

443
00:26:13,240 --> 00:26:16,200
Speaker 3: and even even if even if the person isn't perfect.

444
00:26:17,000 --> 00:26:21,040
Speaker 3: But on the other hand, it doesn't you know, doesn't

445
00:26:21,080 --> 00:26:24,080
Speaker 3: does seem like he's like that bad a guy according

446
00:26:24,080 --> 00:26:28,000
Speaker 3: to his wife, like she kind of she she shouldn't

447
00:26:28,000 --> 00:26:30,480
Speaker 3: have she should not have done that, like you should

448
00:26:30,480 --> 00:26:34,240
Speaker 3: not make up allegations. Now maybe now she's saying that now.

449
00:26:34,440 --> 00:26:38,280
Speaker 3: Either way, none of it means that the Trump administration

450
00:26:39,200 --> 00:26:42,520
Speaker 3: should be allowed to ignore a court order and send

451
00:26:42,560 --> 00:26:48,000
Speaker 3: somebody illegally to a terror dungeon, a torture dungeon. And

452
00:26:48,040 --> 00:26:52,320
Speaker 3: that's what that's what somehow keeps getting missed in this conversation,

453
00:26:52,400 --> 00:26:56,960
Speaker 3: like hell, okay, look, jd Vance, nobody would there would

454
00:26:56,960 --> 00:27:00,359
Speaker 3: be some people complaining. But if you just depour him

455
00:27:00,359 --> 00:27:04,760
Speaker 3: to El Salvador and you violated the court order about

456
00:27:05,160 --> 00:27:07,359
Speaker 3: yeah that he can't go to L Salvador, but he

457
00:27:07,440 --> 00:27:13,600
Speaker 3: were living with his parents in l Salvador, and you

458
00:27:13,600 --> 00:27:15,960
Speaker 3: know he was at some risk because of the gang.

459
00:27:15,960 --> 00:27:17,720
Speaker 3: But then on the other hand, you know, bu Kelly

460
00:27:17,720 --> 00:27:20,840
Speaker 3: has probably crushed a lot of the gang that was

461
00:27:20,840 --> 00:27:24,240
Speaker 3: intimidating him in the past. If that was the situation,

462
00:27:24,440 --> 00:27:29,119
Speaker 3: it wouldn't be an international story. It would be it

463
00:27:29,160 --> 00:27:32,040
Speaker 3: would be the Trump administration ignoring a court order, which

464
00:27:32,040 --> 00:27:33,639
Speaker 3: would be bad and which should be pushed back on,

465
00:27:33,680 --> 00:27:36,000
Speaker 3: and the courts should take that up as well. But

466
00:27:36,080 --> 00:27:39,560
Speaker 3: it would not be captivating the imaginations of the world

467
00:27:39,560 --> 00:27:44,760
Speaker 3: if he weren't in a dungeon, the likes of which

468
00:27:44,800 --> 00:27:51,359
Speaker 3: are just like impossible to contemplate sleeping you know, fluorescent

469
00:27:51,400 --> 00:27:54,560
Speaker 3: lights twenty four hours a day on a metal you

470
00:27:54,640 --> 00:27:57,359
Speaker 3: sleep on a metal sheet with no mattress, you just

471
00:27:57,840 --> 00:28:02,639
Speaker 3: fed beans and rice to eat by hand. Uh, presumably

472
00:28:02,920 --> 00:28:06,479
Speaker 3: there's just you know, violence at all hours, because you know,

473
00:28:06,560 --> 00:28:08,320
Speaker 3: it's a decent number of violent people in there already

474
00:28:08,359 --> 00:28:11,840
Speaker 3: and now they're all absolutely losing their minds in this situation,

475
00:28:13,040 --> 00:28:16,320
Speaker 3: just absolutely horrifying, and in a place that nobody's expected

476
00:28:16,320 --> 00:28:20,320
Speaker 3: to leave alive. If that's where he was sent and

477
00:28:20,359 --> 00:28:21,720
Speaker 3: that keeps getting lost.

478
00:28:22,320 --> 00:28:26,439
Speaker 2: Well, and you know, again, if the Trump administration had

479
00:28:26,480 --> 00:28:32,040
Speaker 2: deported him with like actual in compliance with that withholding order,

480
00:28:32,160 --> 00:28:35,520
Speaker 2: or they had gotten the holding order removed, and Bukell

481
00:28:35,680 --> 00:28:38,280
Speaker 2: accepted his own citizen and did what he wanted to

482
00:28:38,280 --> 00:28:42,040
Speaker 2: do to his own citizen. It's totally different than us

483
00:28:42,080 --> 00:28:46,880
Speaker 2: making a mistake and then allowing him to fester in

484
00:28:46,920 --> 00:28:49,360
Speaker 2: the prison because they're like, oh, he can't get right.

485
00:28:49,360 --> 00:28:52,440
Speaker 3: But at the same time, like the Bush administration used

486
00:28:52,480 --> 00:28:55,600
Speaker 3: to rendition, you know, before it started torturing people on

487
00:28:55,640 --> 00:28:59,200
Speaker 3: its own, it would take people and send them to Egypt,

488
00:29:00,600 --> 00:29:04,560
Speaker 3: and oftentimes there's evidence that CIA officials would go along

489
00:29:04,560 --> 00:29:07,040
Speaker 3: with them and would be part of these or observing

490
00:29:07,080 --> 00:29:09,800
Speaker 3: these interrogations. So they would take people and they'd send

491
00:29:09,800 --> 00:29:14,240
Speaker 3: them to torture chambers in Egypt or Syria actually where

492
00:29:14,280 --> 00:29:16,840
Speaker 3: they would be then tortured on behalf of the United States.

493
00:29:18,200 --> 00:29:21,040
Speaker 3: Those are called extraordinary renditions. Was the term that Chaining

494
00:29:21,080 --> 00:29:24,959
Speaker 3: came up with for them. It was it was decided that, no,

495
00:29:25,000 --> 00:29:27,479
Speaker 3: you can't do that, Like that's insane, Like if if

496
00:29:27,520 --> 00:29:30,880
Speaker 3: you're doing that, that that's not a get out of

497
00:29:30,920 --> 00:29:34,240
Speaker 3: the constitution free card, like we still are against cruel

498
00:29:34,560 --> 00:29:40,240
Speaker 3: in humane punishment. Like we're like, that's that's that's unconstitutional,

499
00:29:40,480 --> 00:29:42,560
Speaker 3: and there's no work around that says, oh, well, we're

500
00:29:42,560 --> 00:29:44,520
Speaker 3: going to outsource it. So if we knew so, if

501
00:29:44,520 --> 00:29:46,080
Speaker 3: we were going to send him to El Salvador knew

502
00:29:47,000 --> 00:29:49,880
Speaker 3: that bu Kelly was going to torture him as a result,

503
00:29:50,040 --> 00:29:52,160
Speaker 3: then we could not do that. What we could do

504
00:29:52,720 --> 00:29:54,000
Speaker 3: is you could deport him to Mexico.

505
00:29:55,440 --> 00:29:57,280
Speaker 2: Yeah, oh yeah, they absolutely could have done that.

506
00:29:58,200 --> 00:29:59,840
Speaker 3: All you have to do is call Mexico and ask.

507
00:30:00,360 --> 00:30:04,040
Speaker 3: But the problem now Jadie Vass's point is that's annoying.

508
00:30:04,720 --> 00:30:05,800
Speaker 3: I don't want to have to do that.

509
00:30:06,320 --> 00:30:09,880
Speaker 2: No, I mean he has a So that then results

510
00:30:09,880 --> 00:30:13,600
Speaker 2: in US and if you're Mexico, you're not the American

511
00:30:13,640 --> 00:30:17,160
Speaker 2: court system. You don't know whether people who are being

512
00:30:17,200 --> 00:30:20,440
Speaker 2: deported actually are gang members or aren't gang members. And

513
00:30:20,480 --> 00:30:22,720
Speaker 2: so then you have the United States saying, hey, we'd

514
00:30:22,760 --> 00:30:25,920
Speaker 2: like to dump some of these suspected gang members into

515
00:30:25,920 --> 00:30:29,680
Speaker 2: Mexico because they were in our country illegally, they were deportable,

516
00:30:30,040 --> 00:30:33,240
Speaker 2: they didn't have citizenship, and we are now trying to

517
00:30:33,240 --> 00:30:36,240
Speaker 2: do quote unquote mass deportations because the Biden administration let

518
00:30:36,440 --> 00:30:38,520
Speaker 2: a net, according to New York Times, eight million people

519
00:30:38,520 --> 00:30:40,640
Speaker 2: into the country over the course of three four years.

520
00:30:41,400 --> 00:30:44,560
Speaker 2: If you say to Mexico, we have to you know,

521
00:30:44,600 --> 00:30:47,120
Speaker 2: maybe just you know, five hundred thousand over the course

522
00:30:47,160 --> 00:30:49,880
Speaker 2: of the next four years. We don't know for sure.

523
00:30:50,240 --> 00:30:52,960
Speaker 2: That is genuinely a really difficult thing to do. And

524
00:30:53,000 --> 00:30:56,040
Speaker 2: this is where the Trump administration is going to hit

525
00:30:56,080 --> 00:30:59,440
Speaker 2: an absolute brick wall. And I think they've already realized

526
00:30:59,480 --> 00:31:03,720
Speaker 2: that they've hit the brick wall, because now I say

527
00:31:03,720 --> 00:31:06,120
Speaker 2: this as somebody who thinks that there is a significant

528
00:31:06,120 --> 00:31:09,160
Speaker 2: problem here. And I don't know what mass deportation means

529
00:31:09,200 --> 00:31:12,120
Speaker 2: because it doesn't have a number, but there are a

530
00:31:12,160 --> 00:31:14,400
Speaker 2: lot of people in this country who I don't think

531
00:31:14,880 --> 00:31:17,200
Speaker 2: some of them are decent and hard working and don't

532
00:31:17,200 --> 00:31:19,680
Speaker 2: deserve to live in the shadows without an answer on

533
00:31:19,720 --> 00:31:22,000
Speaker 2: their citizenship for years and years. I don't think that's

534
00:31:22,000 --> 00:31:25,440
Speaker 2: good for anybody. And so now they're in this situation

535
00:31:25,680 --> 00:31:28,600
Speaker 2: where it's like, well, you have all of these people

536
00:31:28,600 --> 00:31:33,480
Speaker 2: from Venezuela, Marco Rubio, we like, like Venezuelan's fleeing communism.

537
00:31:33,520 --> 00:31:36,920
Speaker 2: That's like your whole thing, Cubans, What are you going

538
00:31:36,960 --> 00:31:41,960
Speaker 2: to do with people who are like in these situations.

539
00:31:42,200 --> 00:31:45,160
Speaker 2: You can't send them to Venezuela, you can't send them

540
00:31:45,200 --> 00:31:47,600
Speaker 2: back to Cuba. So what are you going to do?

541
00:31:47,760 --> 00:31:49,880
Speaker 3: And I think you're breaking up for a second. But

542
00:31:50,000 --> 00:31:54,160
Speaker 3: you know, I interviewed the Venezuelan Foreign minister a little

543
00:31:54,280 --> 00:31:57,280
Speaker 3: a while ago and under the Biden administration, and he

544
00:31:57,400 --> 00:32:01,240
Speaker 3: had said, he basically suggested that look, if we if

545
00:32:01,240 --> 00:32:06,200
Speaker 3: we can normalize relationship, normanize relations with the United States again,

546
00:32:06,320 --> 00:32:10,400
Speaker 3: you lift these sanctions, you know, get back to a

547
00:32:10,520 --> 00:32:12,800
Speaker 3: normal way of doing business, we can take we can

548
00:32:12,840 --> 00:32:16,240
Speaker 3: take a ton of these Venezuelans back into Venezuela. The

549
00:32:16,280 --> 00:32:18,480
Speaker 3: same would be true of Cuba, the same would be

550
00:32:18,520 --> 00:32:21,400
Speaker 3: true of Haiti. Like we've destroyed these countries, created this

551
00:32:21,480 --> 00:32:23,800
Speaker 3: mass exodus, and now we're like, oh gee, there's nothing

552
00:32:23,840 --> 00:32:24,880
Speaker 3: we can do with these people.

553
00:32:25,400 --> 00:32:29,960
Speaker 2: The Venezuela point isn't a bad argument for Trump's perspective,

554
00:32:30,080 --> 00:32:33,400
Speaker 2: because you know, he loves being the historic deal breaker

555
00:32:33,520 --> 00:32:37,360
Speaker 2: or the deal maker, not breaker deal maker, and this

556
00:32:37,480 --> 00:32:43,000
Speaker 2: idea of like a generational thaw in the relationship with

557
00:32:43,080 --> 00:32:47,800
Speaker 2: Venezuela in order to accept I mean tons of Venezuelan

558
00:32:47,880 --> 00:32:51,000
Speaker 2: migrants that he surely wants to sweep up and quote

559
00:32:51,040 --> 00:32:55,600
Speaker 2: mass deportations. I don't know, He's not boxed in like

560
00:32:55,960 --> 00:32:58,680
Speaker 2: a president Marco Rubio would be. But he certainly has

561
00:32:58,680 --> 00:33:01,200
Speaker 2: Marco Rubio as the Secretary of Date and people who

562
00:33:01,600 --> 00:33:04,200
Speaker 2: see the issue like Rubio does surrounding him. And that's

563
00:33:04,720 --> 00:33:13,040
Speaker 2: the very traditional Cold War conservative perspective on total that

564
00:33:13,120 --> 00:33:16,160
Speaker 2: Ronald Reagan actually violated, to criticism for a lot of

565
00:33:16,160 --> 00:33:21,640
Speaker 2: people of total non cooperation and like non contact basically

566
00:33:22,080 --> 00:33:26,240
Speaker 2: with these types of countries. And so if Trump breaks

567
00:33:26,280 --> 00:33:30,000
Speaker 2: that in order to get his his migrants supported, that'll

568
00:33:30,000 --> 00:33:30,560
Speaker 2: be interesting.

569
00:33:31,520 --> 00:33:33,160
Speaker 3: I don't see it happening, But I would love to

570
00:33:33,200 --> 00:33:35,320
Speaker 3: be wrong if my favorite thing is to be wrong

571
00:33:35,360 --> 00:33:38,960
Speaker 3: in a good direction. So let's let's see a last

572
00:33:39,000 --> 00:33:39,280
Speaker 3: thing I.

573
00:33:40,120 --> 00:33:42,520
Speaker 2: Was gonna say. I've told people in who I know

574
00:33:42,560 --> 00:33:46,200
Speaker 2: who work on some of these issues that it might

575
00:33:46,200 --> 00:33:48,480
Speaker 2: not be an idea, a bad idea to talk to

576
00:33:48,520 --> 00:33:49,680
Speaker 2: Trump about Cuba.

577
00:33:50,800 --> 00:33:53,600
Speaker 3: Yeah, I mean come on, yeah, Or I mean they're

578
00:33:53,640 --> 00:33:56,160
Speaker 3: just trying to create a failed state. That's the current

579
00:33:56,200 --> 00:33:58,520
Speaker 3: the current policies. Let's create a failed state and see

580
00:33:58,520 --> 00:33:59,000
Speaker 3: what happens.

581
00:33:59,240 --> 00:34:03,000
Speaker 2: He wants to do ai era in Gaza. Let me

582
00:34:03,040 --> 00:34:05,120
Speaker 2: tell you Donald Trump what you could do with Havana.

583
00:34:06,040 --> 00:34:09,120
Speaker 3: Yes, he can get his mob buddies over there. We

584
00:34:09,120 --> 00:34:13,040
Speaker 3: can get the band back together. Last thing before we

585
00:34:13,080 --> 00:34:18,080
Speaker 3: move on this, there's a new poll out that shows

586
00:34:18,080 --> 00:34:21,240
Speaker 3: that the American people, like by a very very wide margin,

587
00:34:22,040 --> 00:34:25,960
Speaker 3: are just not supportive of this idea that we should

588
00:34:26,000 --> 00:34:29,759
Speaker 3: be deporting students on behalf of Israel, on behalf of

589
00:34:29,840 --> 00:34:34,719
Speaker 3: like you know, for the before simply expressing support for

590
00:34:34,800 --> 00:34:40,040
Speaker 3: Palestine by a wide margin, fifty four to twenty three

591
00:34:40,120 --> 00:34:44,040
Speaker 3: percent opposed deporting Greeden card holders, fifty two to twenty

592
00:34:44,080 --> 00:34:47,520
Speaker 3: six opposed deporting student visa holders. That's as a two

593
00:34:47,560 --> 00:34:49,560
Speaker 3: to one margin with you know, you've got a quota

594
00:34:49,600 --> 00:34:51,840
Speaker 3: of the people in the middle saying we're not sure.

595
00:34:52,200 --> 00:34:54,960
Speaker 3: So it's you know, there aren't a lot of issues

596
00:34:55,000 --> 00:34:58,960
Speaker 3: in the US that are two to one, but this is.

597
00:34:59,360 --> 00:35:01,200
Speaker 3: But this is one him and we do.

598
00:35:01,160 --> 00:35:03,400
Speaker 2: Have one thing lastly as well, which is just that

599
00:35:03,480 --> 00:35:07,280
Speaker 2: Donald Trump was asked about compliance with the courts yesterday

600
00:35:07,800 --> 00:35:10,280
Speaker 2: and his pressor with Georgia Maloney. So let's go ahead

601
00:35:10,280 --> 00:35:11,040
Speaker 2: and take a listen.

602
00:35:12,200 --> 00:35:16,880
Speaker 7: Will you take steps to return Kilmarregio Garcia the United States.

603
00:35:16,600 --> 00:35:18,680
Speaker 5: And prettim in front of a judge. Well, I'm not

604
00:35:18,800 --> 00:35:22,000
Speaker 5: involved in it. I'm going to respond by saying he'll

605
00:35:22,320 --> 00:35:25,799
Speaker 5: have to speak to the lawyers the DOJ. I've heard

606
00:35:25,800 --> 00:35:30,480
Speaker 5: many things about him, and we'll have to find out

607
00:35:31,040 --> 00:35:31,960
Speaker 5: what the truth is.

608
00:35:33,440 --> 00:35:36,719
Speaker 2: So Ryan, the reason I thought that was useful, just

609
00:35:36,760 --> 00:35:38,720
Speaker 2: as we're closing out the segment is I was scrolling

610
00:35:38,719 --> 00:35:41,879
Speaker 2: through Bukelly's Twitter just now and he's retweeting things saying

611
00:35:41,920 --> 00:35:45,280
Speaker 2: that he confirmed that Abregio Garcia is staying in El Salvador.

612
00:35:45,360 --> 00:35:47,279
Speaker 2: People may have seen the Bukelly tweet saying he now

613
00:35:47,320 --> 00:35:50,960
Speaker 2: has the privilege of staying in Al Salvador. And on

614
00:35:51,000 --> 00:35:54,160
Speaker 2: top of that, Bukelly was tweeting things about how he's

615
00:35:54,360 --> 00:35:59,640
Speaker 2: been trolling Democrats, and so it's like, you just like

616
00:35:59,719 --> 00:36:03,399
Speaker 2: Trump is now like excusing himself from the conversation, and

617
00:36:03,640 --> 00:36:05,560
Speaker 2: just you know what is the Taylor Swift line, I'd

618
00:36:05,600 --> 00:36:07,680
Speaker 2: very much like to be excluded from this this narrative

619
00:36:07,719 --> 00:36:09,879
Speaker 2: or this conversation. That's what he's he's doing. A couple

620
00:36:09,920 --> 00:36:11,760
Speaker 2: of days ago, he was sitting in the exact same spot,

621
00:36:11,920 --> 00:36:14,640
Speaker 2: very much wanting to be included in the conversation.

622
00:36:15,680 --> 00:36:19,400
Speaker 3: Yeah, Trump famously respects the independence of the Department of Justice,

623
00:36:19,520 --> 00:36:23,640
Speaker 3: and so he's not gonna get involved in the those affairs.

624
00:36:27,280 --> 00:36:30,240
Speaker 2: Well, let's go to another significant quote from that press conference.

625
00:36:30,239 --> 00:36:33,440
Speaker 2: As we move over to the markets. This is Donald Trump.

626
00:36:33,440 --> 00:36:36,640
Speaker 2: A lot of news yesterday on the Fed front, so

627
00:36:36,800 --> 00:36:40,480
Speaker 2: much to break down. Let's start with Trump being asked

628
00:36:40,520 --> 00:36:42,959
Speaker 2: about Jerome Powell. He had a lot to say about

629
00:36:43,080 --> 00:36:47,040
Speaker 2: Jerome Powell in this press conference yesterday where he was

630
00:36:47,160 --> 00:36:51,640
Speaker 2: sitting beside Italian Prime Minister Georgia Maloney. So here's Trump on.

631
00:36:54,600 --> 00:36:55,759
Speaker 6: Not fast enough.

632
00:36:56,040 --> 00:36:58,360
Speaker 2: He says he didn't ask him to.

633
00:36:58,880 --> 00:37:01,239
Speaker 8: Oh he'll live. If I to, he'll be out of there.

634
00:37:01,280 --> 00:37:03,759
Speaker 8: But don't I don't think he's I don't think he

635
00:37:04,600 --> 00:37:07,520
Speaker 8: I don't think he's doing the job. He's too late,

636
00:37:08,040 --> 00:37:11,440
Speaker 8: always too late, a little slow, and I'm not.

637
00:37:11,440 --> 00:37:12,160
Speaker 5: Happy with him.

638
00:37:13,520 --> 00:37:14,759
Speaker 2: I let him know it.

639
00:37:15,200 --> 00:37:18,600
Speaker 8: And oh, if I want him out, he'll be out

640
00:37:18,600 --> 00:37:19,920
Speaker 8: of their real fast believe me.

641
00:37:21,719 --> 00:37:31,400
Speaker 2: You a question, yeah, question, all right, Ryan reaction.

642
00:37:32,320 --> 00:37:36,240
Speaker 3: Yeah. So the markets are, you know, sending a signal

643
00:37:36,360 --> 00:37:43,359
Speaker 3: that if if Trump, you know, forcibly removes the the

644
00:37:43,480 --> 00:37:47,839
Speaker 3: Chairman of the FED, that they would they would they

645
00:37:47,840 --> 00:37:52,000
Speaker 3: would lose that much more confidence in the American economy.

646
00:37:52,840 --> 00:37:56,719
Speaker 3: Like the U the U. S economy is the envy

647
00:37:56,719 --> 00:37:58,800
Speaker 3: of the world, and it is the kind of place

648
00:37:58,840 --> 00:38:01,960
Speaker 3: where people, you know, try to find safety and sanctuary

649
00:38:02,040 --> 00:38:08,440
Speaker 3: because it is understood to be stable and to follow

650
00:38:09,000 --> 00:38:11,319
Speaker 3: the rule of law, because it is very it is

651
00:38:11,320 --> 00:38:15,360
Speaker 3: hard around the world to find. Like the Chinese Stock Exchange,

652
00:38:15,360 --> 00:38:19,920
Speaker 3: for instance, would be doing a lot better relative to

653
00:38:21,719 --> 00:38:26,040
Speaker 3: Chinese economic capacity if there was more faith from international

654
00:38:26,040 --> 00:38:29,800
Speaker 3: investors that the investments were safe and that rule of

655
00:38:29,880 --> 00:38:33,840
Speaker 3: law was followed. So if you know, he's already you know,

656
00:38:33,960 --> 00:38:38,680
Speaker 3: taken a huge hammer to the idea of the stability

657
00:38:38,680 --> 00:38:42,840
Speaker 3: of the American economy, if he goes and you know,

658
00:38:43,000 --> 00:38:46,480
Speaker 3: throws out the FED chair in order to kind of

659
00:38:46,560 --> 00:38:51,560
Speaker 3: prop up his terriff policy, what that would do is

660
00:38:51,600 --> 00:38:54,640
Speaker 3: it would be another signal to Wall Street, which is

661
00:38:54,680 --> 00:38:57,759
Speaker 3: currently kind of somewhere in the stage of denial or

662
00:38:57,840 --> 00:39:02,800
Speaker 3: anger about the tariff policy. Like wall Street is still

663
00:39:02,880 --> 00:39:07,080
Speaker 3: desperately hoping that this guy can't be serious. He's like

664
00:39:07,120 --> 00:39:09,600
Speaker 3: in ninety days, he's please tell us he's not coming

665
00:39:09,640 --> 00:39:13,520
Speaker 3: back and trying this again. And if he pushes out

666
00:39:13,520 --> 00:39:16,200
Speaker 3: the FED chair, that would be a signal that, oh no, no,

667
00:39:16,280 --> 00:39:20,000
Speaker 3: this guy is deadly serious and he thinks that if

668
00:39:20,000 --> 00:39:23,960
Speaker 3: he can just get control of the monetary flow, he

669
00:39:23,960 --> 00:39:28,200
Speaker 3: can If he can mess with that spigot, then he's

670
00:39:28,200 --> 00:39:30,279
Speaker 3: got then then his tariff policy is going to have

671
00:39:30,320 --> 00:39:32,240
Speaker 3: some real staying power.

672
00:39:32,719 --> 00:39:35,759
Speaker 2: Right And you're echoing Treasury Secretary Scott Bessett. This is

673
00:39:35,760 --> 00:39:39,200
Speaker 2: what's on the screen right here. This was a Politico story.

674
00:39:39,520 --> 00:39:42,439
Speaker 2: Besstont has been privately underscoring that acting Powell would feed

675
00:39:42,480 --> 00:39:44,879
Speaker 2: instability in the market, sources say, and Trump is also

676
00:39:44,920 --> 00:39:47,319
Speaker 2: aware of the stakes. That means that though Trump is

677
00:39:47,320 --> 00:39:50,439
Speaker 2: mad again at Powell, his job looks safer. Now, sorry

678
00:39:50,480 --> 00:39:53,279
Speaker 2: to interrupt, I just you had Scott Bessntt sitting there

679
00:39:53,360 --> 00:39:56,360
Speaker 2: very stiffly in the press conference as Donald Trump was

680
00:39:56,360 --> 00:40:01,200
Speaker 2: making those comments, and Bessett seems to be having a

681
00:40:01,239 --> 00:40:05,520
Speaker 2: lot of his own perspectives taken very very seriously. That's

682
00:40:05,520 --> 00:40:07,759
Speaker 2: a lot of the reporting that Trump is leaning on

683
00:40:07,880 --> 00:40:11,000
Speaker 2: bess heavily right now, both Besson and Latink. Maybe it's

684
00:40:11,000 --> 00:40:13,480
Speaker 2: like a good and bad angel on the shoulder type dynamic.

685
00:40:13,560 --> 00:40:16,680
Speaker 2: But this is the argument that you were just making,

686
00:40:16,760 --> 00:40:19,760
Speaker 2: is apparently the argument his Treasury secretary is making to him.

687
00:40:20,360 --> 00:40:25,279
Speaker 3: Yeah. Uh, if if I agree with the Trump's Treasury secretary,

688
00:40:25,320 --> 00:40:27,399
Speaker 3: then it should make.

689
00:40:27,400 --> 00:40:29,160
Speaker 2: He's got a great Treasury secretary.

690
00:40:29,360 --> 00:40:33,960
Speaker 3: Yes, so let's you know, he also defended his I

691
00:40:34,360 --> 00:40:38,360
Speaker 3: can pull this up here, also defended his tariff policy

692
00:40:38,400 --> 00:40:43,120
Speaker 3: to maloney, let mean, let's get this answer you plan

693
00:40:43,280 --> 00:40:44,920
Speaker 3: to use forward.

694
00:40:46,880 --> 00:40:48,640
Speaker 8: No tariffs are making us rich.

695
00:40:48,880 --> 00:40:49,520
Speaker 2: We were.

696
00:40:50,800 --> 00:40:54,280
Speaker 8: Losing a lot of money under Biden, trillions of dollars

697
00:40:54,320 --> 00:40:59,200
Speaker 8: trillions on trade, and now that's that whole tide has

698
00:40:59,239 --> 00:41:01,640
Speaker 8: turned making a lot of money.

699
00:41:01,680 --> 00:41:02,640
Speaker 5: We're taking in a lot of money.

700
00:41:02,680 --> 00:41:05,760
Speaker 8: Don't forget. We're taking in twenty five percent on cars,

701
00:41:05,800 --> 00:41:08,239
Speaker 8: twenty five percent on steel, twenty five percent on the

702
00:41:08,239 --> 00:41:11,520
Speaker 8: aluminum ten baseline.

703
00:41:12,680 --> 00:41:17,000
Speaker 3: And so the first estimates came came in well under

704
00:41:17,520 --> 00:41:21,920
Speaker 3: what what Trump was expecting, right, Apparently five hundred million

705
00:41:21,960 --> 00:41:26,319
Speaker 3: dollars has been collected through the tariff policy so far,

706
00:41:26,440 --> 00:41:31,400
Speaker 3: which is, you know, it's just just a complete pittance. Uh,

707
00:41:31,719 --> 00:41:34,360
Speaker 3: it's just kind of like laughable in the face of

708
00:41:34,440 --> 00:41:38,800
Speaker 3: the amount of money that has moved and changed hands.

709
00:41:38,800 --> 00:41:41,839
Speaker 3: And we're talking about trillions of dollars. As he joked,

710
00:41:41,920 --> 00:41:44,879
Speaker 3: you know, Charles Schwab made two point five billion through

711
00:41:44,920 --> 00:41:50,600
Speaker 3: some shady insider trading in one day. So the entire

712
00:41:51,000 --> 00:41:54,080
Speaker 3: American people have just gotten a fifth of that sounds

713
00:41:54,120 --> 00:41:56,319
Speaker 3: like we're sounds like now we're really getting ripped off.

714
00:41:56,560 --> 00:42:00,320
Speaker 2: Well, and in this grand cost benefit analysis, we're starting

715
00:42:00,360 --> 00:42:04,560
Speaker 2: to get some examples of people posting. Actually, this is

716
00:42:05,160 --> 00:42:07,640
Speaker 2: one man who posted an example of what the tariffs

717
00:42:07,640 --> 00:42:10,640
Speaker 2: actually looked like. So he says, I got hit with

718
00:42:10,680 --> 00:42:12,759
Speaker 2: my first This is Aaron Rubin, my first twenty percent

719
00:42:12,800 --> 00:42:14,959
Speaker 2: terrifyed of China ship before that jump to one forty

720
00:42:15,000 --> 00:42:18,439
Speaker 2: five percent. I included the bill from CBP below. It's

721
00:42:18,440 --> 00:42:21,480
Speaker 2: called the cn slash HKEO twenty percent duty. The product

722
00:42:21,520 --> 00:42:23,960
Speaker 2: isn't worth selling with one hundred and forty five percent tariffs.

723
00:42:23,960 --> 00:42:26,920
Speaker 2: So despite selling over one million of this SKU and

724
00:42:27,040 --> 00:42:29,880
Speaker 2: my tiny e comm business and customers being fairly happy,

725
00:42:29,920 --> 00:42:34,719
Speaker 2: I will be discontinuing this product. And there's another example.

726
00:42:35,080 --> 00:42:37,680
Speaker 2: This is Ryan Peterson. Two of our American customers, devastated

727
00:42:37,680 --> 00:42:40,719
Speaker 2: by the tariff, gave up and sold themselves to saw

728
00:42:40,760 --> 00:42:43,480
Speaker 2: themselves to their Chinese factories in the last week, and

729
00:42:43,520 --> 00:42:47,200
Speaker 2: he posted I believe an entire thread of examples. Yeah,

730
00:42:47,280 --> 00:42:49,799
Speaker 2: thousands and the millions of American small businesses, including many

731
00:42:49,960 --> 00:42:51,960
Speaker 2: iconic brands, would go bankrupt this year if the tariff

732
00:42:52,000 --> 00:42:55,880
Speaker 2: policies on China don't change. He says. The manufacturers in

733
00:42:55,920 --> 00:42:58,280
Speaker 2: Vietnam and elsewhere can't be bothered with small batch production

734
00:42:58,360 --> 00:43:01,759
Speaker 2: jobs typical of small businesses. Why it just keeps going

735
00:43:01,800 --> 00:43:05,440
Speaker 2: down the line, basically explaining, he says, when they die,

736
00:43:05,480 --> 00:43:07,839
Speaker 2: it may actually be the final victory for the Chinese manufacturers.

737
00:43:07,840 --> 00:43:09,880
Speaker 2: They scoop up brands that took decades to build through

738
00:43:09,880 --> 00:43:11,160
Speaker 2: the blood, sweat and tears. Are some of the most

739
00:43:11,160 --> 00:43:14,440
Speaker 2: creative and entrepreneurial people in the world. American brand builders

740
00:43:14,440 --> 00:43:16,120
Speaker 2: are second to none worldwide.

741
00:43:17,200 --> 00:43:21,319
Speaker 3: Right. Yeah, the deal that we had stitched out with

742
00:43:21,480 --> 00:43:24,520
Speaker 3: China so far is that we had the IP we

743
00:43:24,560 --> 00:43:27,399
Speaker 3: came up with these ideas. We've got the executives working

744
00:43:27,440 --> 00:43:31,160
Speaker 3: the nice, coashy jobs, and we want to reduce our

745
00:43:31,200 --> 00:43:34,520
Speaker 3: costs and you know, brust our unions, and so we're

746
00:43:34,560 --> 00:43:39,399
Speaker 3: going to ship the production over to China. And what

747
00:43:39,440 --> 00:43:41,160
Speaker 3: Trump is going to do is not going to bring

748
00:43:41,239 --> 00:43:45,719
Speaker 3: the manufacturing back to the United States. What's going to

749
00:43:45,719 --> 00:43:49,680
Speaker 3: happen is that the Chinese company that makes the thing

750
00:43:49,880 --> 00:43:54,760
Speaker 3: was always a threat. Like That's the the similarity throughout

751
00:43:54,800 --> 00:44:00,440
Speaker 3: history is the kind of guards that organize themselves around

752
00:44:00,440 --> 00:44:04,080
Speaker 3: an emperor or a president or a dictator, like those

753
00:44:04,120 --> 00:44:07,640
Speaker 3: guards are always the biggest risk of actually taking power

754
00:44:07,680 --> 00:44:09,719
Speaker 3: because they're like, wait a minute, like why are we

755
00:44:09,840 --> 00:44:14,200
Speaker 3: protecting this princeling? We could actually just we're the ones

756
00:44:14,239 --> 00:44:18,560
Speaker 3: with the weapons. Let's just take power. The parallels in China,

757
00:44:19,239 --> 00:44:22,640
Speaker 3: you had all these manufacturers who are like these executives

758
00:44:23,040 --> 00:44:26,040
Speaker 3: over in Los Angeles are not that smart, Like, okay,

759
00:44:26,040 --> 00:44:29,360
Speaker 3: they came up with the name for this, this this handbag,

760
00:44:30,120 --> 00:44:33,160
Speaker 3: but we're the ones that make it, and we all

761
00:44:33,160 --> 00:44:34,560
Speaker 3: we have to figure out how to do is just

762
00:44:34,600 --> 00:44:39,200
Speaker 3: sell it to people around the world. The deal was

763
00:44:39,200 --> 00:44:42,120
Speaker 3: always that you're not going to do that. We've got

764
00:44:42,120 --> 00:44:44,560
Speaker 3: this arrangement that works for everybody. I mean, it doesn't

765
00:44:44,600 --> 00:44:47,520
Speaker 3: work for the American workers necessarily, but this is.

766
00:44:47,480 --> 00:44:50,920
Speaker 2: The arrangement were the Chinese workers or you.

767
00:44:50,880 --> 00:44:54,200
Speaker 3: Know, gradually, you know, and because of some equitable distribution,

768
00:44:54,719 --> 00:44:58,320
Speaker 3: some more equitable distribution works better for them. You know,

769
00:44:58,360 --> 00:45:01,919
Speaker 3: they had the fastest you know, reduction and poverty in

770
00:45:02,280 --> 00:45:06,279
Speaker 3: world history as a result of some of this. But

771
00:45:06,360 --> 00:45:10,560
Speaker 3: now they're saying, you know what, okay, fine, you are

772
00:45:10,960 --> 00:45:15,640
Speaker 3: you you are putting your own companies out of business.

773
00:45:16,120 --> 00:45:19,279
Speaker 3: So therefore, we're just going to do that last leg

774
00:45:19,320 --> 00:45:22,359
Speaker 3: of it. And while this thing was making let's say

775
00:45:22,400 --> 00:45:24,719
Speaker 3: it was one hundred million dollar revenue, you were getting

776
00:45:24,760 --> 00:45:27,840
Speaker 3: eighty million, we were getting twenty million. We like the

777
00:45:27,880 --> 00:45:31,680
Speaker 3: idea of us getting you know, ninety million, and you

778
00:45:31,760 --> 00:45:36,840
Speaker 3: getting ten as our kind of distribution network at the

779
00:45:37,000 --> 00:45:39,160
Speaker 3: very end of the chain that we will own from

780
00:45:39,160 --> 00:45:42,120
Speaker 3: beginning to end. So yeah, we like this. We'll keep

781
00:45:42,120 --> 00:45:45,880
Speaker 3: all the money, and the result will be a collapse

782
00:45:45,880 --> 00:45:47,719
Speaker 3: in standard of living in the United States.

783
00:45:48,200 --> 00:45:49,719
Speaker 2: Right. I don't know if you saw these charts that

784
00:45:49,880 --> 00:45:53,080
Speaker 2: Derek Thompson put up. These are from I think these

785
00:45:53,080 --> 00:45:55,000
Speaker 2: are from the Philadelphia are This one that's on the

786
00:45:55,000 --> 00:45:56,360
Speaker 2: screen right now is from the New York FED, a

787
00:45:56,400 --> 00:45:58,640
Speaker 2: survey from the New York FED. The one that was

788
00:45:58,719 --> 00:46:01,120
Speaker 2: just on the screen is from Philly FED. But this

789
00:46:01,239 --> 00:46:04,200
Speaker 2: is current in future general activity indexes, and you see

790
00:46:04,239 --> 00:46:07,960
Speaker 2: a decline that is starting on a trajectory that almost

791
00:46:08,000 --> 00:46:10,160
Speaker 2: looks similar. It looks like it's going to a similar

792
00:46:10,360 --> 00:46:14,279
Speaker 2: trajectory to twenty twenty and COVID ERA. If we go

793
00:46:14,360 --> 00:46:17,560
Speaker 2: back to this Philly FED survey, you see differences in

794
00:46:17,600 --> 00:46:21,920
Speaker 2: general business conditions, new orders, and shipments between March and April,

795
00:46:22,040 --> 00:46:25,399
Speaker 2: and again, Ran, I think the way that I'm looking

796
00:46:25,440 --> 00:46:28,480
Speaker 2: at this is it is a long term cost benefit

797
00:46:28,600 --> 00:46:31,960
Speaker 2: analysis that is guaranteed to have short term pain. There

798
00:46:32,000 --> 00:46:35,279
Speaker 2: is a possibility that there are long term gains, but

799
00:46:35,440 --> 00:46:38,520
Speaker 2: long the biggest question is whether those long term gains,

800
00:46:38,560 --> 00:46:41,560
Speaker 2: if they come outweigh the short term and then of

801
00:46:41,560 --> 00:46:44,200
Speaker 2: course the long term losses. And so the White House

802
00:46:44,239 --> 00:46:47,360
Speaker 2: has lists of you know, deals it has with countries

803
00:46:47,600 --> 00:46:52,600
Speaker 2: or new businesses that have agreed to a new deals

804
00:46:52,600 --> 00:46:55,400
Speaker 2: with businesses that have agreed to invest more in the country.

805
00:46:56,239 --> 00:46:58,920
Speaker 2: But I mean in the last couple of weeks, those

806
00:46:58,960 --> 00:47:02,040
Speaker 2: are so far outweigh by the negatives in my estimation.

807
00:47:02,960 --> 00:47:05,160
Speaker 3: Yeah, right, The long term gains will go to the

808
00:47:05,200 --> 00:47:08,360
Speaker 3: companies and the countries that can take advantage of this moment,

809
00:47:08,840 --> 00:47:11,440
Speaker 3: and those at this point are Chinese companies and China.

810
00:47:12,440 --> 00:47:16,880
Speaker 3: Like it boggles my mind that Trump somehow thinks that

811
00:47:17,000 --> 00:47:21,719
Speaker 3: all of these companies that he is deliberately driving out

812
00:47:21,719 --> 00:47:25,960
Speaker 3: of business and into bankruptcy will somehow take advantage of

813
00:47:26,000 --> 00:47:31,600
Speaker 3: his tariff policy and rebuild the American manufacturing capacity. Like

814
00:47:31,600 --> 00:47:35,920
Speaker 3: that's like he's wiping out the people who would do

815
00:47:36,000 --> 00:47:39,440
Speaker 3: the thing he wants them to do. The ultimate irony,

816
00:47:39,480 --> 00:47:41,640
Speaker 3: of course, is that if you look at the manufacturing

817
00:47:42,360 --> 00:47:47,279
Speaker 3: like numbers under the Biden administration, they were skyrocketing and

818
00:47:47,360 --> 00:47:53,600
Speaker 3: it was through bipartisan industrial policy. Let's keep Trump's tariffs

819
00:47:53,680 --> 00:47:58,920
Speaker 3: in very targeted areas and let's subsidize domestic manufacturing in

820
00:47:58,960 --> 00:48:02,440
Speaker 3: the United States. Like that's it. Like that, That's what

821
00:48:02,480 --> 00:48:06,080
Speaker 3: you do if you wanted to do this. Trump instead

822
00:48:06,239 --> 00:48:11,120
Speaker 3: is like fighting against the subsidies, call you know, and

823
00:48:11,160 --> 00:48:15,839
Speaker 3: then driving these companies that are driving this boom out

824
00:48:15,840 --> 00:48:19,439
Speaker 3: of business. So how he thinks that they'll somehow come

825
00:48:19,480 --> 00:48:23,439
Speaker 3: around and lead a long term turnaround is at least

826
00:48:23,440 --> 00:48:25,399
Speaker 3: beyond my capacity to think.

827
00:48:26,880 --> 00:48:30,880
Speaker 2: Should we roll these clips of Elizabeth Warren doing battle

828
00:48:30,920 --> 00:48:35,040
Speaker 2: on CNBC? I knew you would be excited about these,

829
00:48:36,520 --> 00:48:41,960
Speaker 2: So here is the first one there. She seemed to

830
00:48:41,960 --> 00:48:45,160
Speaker 2: be on for quite a long time. Right, Oh, I'm sorry,

831
00:48:45,160 --> 00:48:47,200
Speaker 2: This is a CNBC poll that's actually worth looking at

832
00:48:47,200 --> 00:48:50,319
Speaker 2: before we even roll into this. I knew CNBC pool

833
00:48:50,360 --> 00:48:53,640
Speaker 2: that found Trump's job approval forty four fifty one. He's

834
00:48:53,680 --> 00:48:57,120
Speaker 2: down twelve points on the economy, done sixteen on tariffs,

835
00:48:57,120 --> 00:49:00,600
Speaker 2: and down twenty three points on inflation and cost of living.

836
00:49:01,400 --> 00:49:06,880
Speaker 2: So even by CNBC's metrics, that's where this is for Trump.

837
00:49:07,320 --> 00:49:09,000
Speaker 2: Here we go with Elizabeth Warren.

838
00:49:09,760 --> 00:49:12,680
Speaker 6: But evidence are you pointing to that this is a

839
00:49:12,719 --> 00:49:13,640
Speaker 6: corrupt policy?

840
00:49:14,000 --> 00:49:17,920
Speaker 7: Well, he right out in front announces a terror policy,

841
00:49:17,960 --> 00:49:20,120
Speaker 7: says there's going to be no exceptions that policy, and

842
00:49:20,160 --> 00:49:22,600
Speaker 7: then he says I talked to Tim Cook.

843
00:49:23,920 --> 00:49:28,560
Speaker 2: Oh really should be talking to Well. Then he follows

844
00:49:28,560 --> 00:49:28,799
Speaker 2: it up.

845
00:49:28,800 --> 00:49:32,040
Speaker 7: I sing, and all of a sudden, great deal available

846
00:49:32,120 --> 00:49:34,399
Speaker 7: for Tim Cook. Tim Cook, who by the way, put

847
00:49:34,400 --> 00:49:35,200
Speaker 7: a million that's.

848
00:49:35,000 --> 00:49:37,440
Speaker 6: Great deal available for Americans who have to buy iPhone.

849
00:49:37,520 --> 00:49:41,040
Speaker 7: No, it is a great deal for one company. But

850
00:49:41,239 --> 00:49:44,200
Speaker 7: how many of the competitors now get hurt? In fact,

851
00:49:44,280 --> 00:49:46,239
Speaker 7: I like to know what else goes on in this deal?

852
00:49:46,800 --> 00:49:50,280
Speaker 7: Is it that Tim Cook and his interest at protection?

853
00:49:50,800 --> 00:49:53,120
Speaker 7: But any of his competitors, I don't know. They get

854
00:49:53,160 --> 00:49:55,920
Speaker 7: a higher interest rate? What happens to them?

855
00:49:56,480 --> 00:49:57,719
Speaker 2: All the corruption?

856
00:49:58,080 --> 00:50:00,839
Speaker 6: And on what evidence ares rolling?

857
00:50:00,960 --> 00:50:02,720
Speaker 2: The next clip here as.

858
00:50:02,600 --> 00:50:05,680
Speaker 6: A reminder, So Congress gives the FED the authority. Can

859
00:50:05,719 --> 00:50:08,719
Speaker 6: the president terminate not that he said he's going to

860
00:50:08,760 --> 00:50:13,640
Speaker 6: do this, but can he terminate Powell's chairmanship? Earlier than

861
00:50:13,680 --> 00:50:17,719
Speaker 6: his end in term. No, under no circumstance. No, that's

862
00:50:17,719 --> 00:50:18,640
Speaker 6: not a concern for him.

863
00:50:18,520 --> 00:50:19,200
Speaker 2: Does it. Well?

864
00:50:20,680 --> 00:50:23,319
Speaker 7: I thought we were talking about legally, Bryan, But this

865
00:50:23,480 --> 00:50:26,960
Speaker 7: is a president who has shown himself willing to violate

866
00:50:27,080 --> 00:50:30,040
Speaker 7: laws every police he goes, including willing to violate the

867
00:50:30,040 --> 00:50:34,440
Speaker 7: Constitution of the United States. So that obviously puts things

868
00:50:34,480 --> 00:50:36,880
Speaker 7: a little more in play than we ever would have guessed.

869
00:50:37,239 --> 00:50:39,040
Speaker 7: But I really want to make a pitch here for

870
00:50:39,080 --> 00:50:43,799
Speaker 7: a second about the importance of Powell staying in his job.

871
00:50:44,920 --> 00:50:47,640
Speaker 2: And it's unusual coming from him. It's very critical of him.

872
00:50:47,920 --> 00:50:51,320
Speaker 7: I have tangled with him on a regular basis about

873
00:50:51,360 --> 00:50:59,600
Speaker 7: both regulations and interest rates. But understand this, if Chairman

874
00:50:59,680 --> 00:51:03,120
Speaker 7: Pell can be fired by the President of the United States,

875
00:51:03,320 --> 00:51:06,400
Speaker 7: it will crash the markets in the United States. The

876
00:51:06,600 --> 00:51:10,759
Speaker 7: infrastructure that keeps this stock market strong and therefore a

877
00:51:10,760 --> 00:51:13,160
Speaker 7: big part of our economy strong and therefore a big

878
00:51:13,160 --> 00:51:17,279
Speaker 7: part of the world economy strong, is the idea that

879
00:51:17,360 --> 00:51:22,280
Speaker 7: the big pieces move independent of the politics, that somebody

880
00:51:22,360 --> 00:51:29,640
Speaker 7: is making his there her best decisions economically and independently.

881
00:51:30,239 --> 00:51:34,080
Speaker 7: If we understand that if the New York Stock Exchange,

882
00:51:34,120 --> 00:51:36,440
Speaker 7: if interest rates in the United states are subject to

883
00:51:36,480 --> 00:51:39,160
Speaker 7: a president who just wants to waive his magic wand

884
00:51:40,000 --> 00:51:44,120
Speaker 7: this doesn't distinguish us then from any other two bit

885
00:51:44,400 --> 00:51:47,000
Speaker 7: dictatorship around the world.

886
00:51:47,680 --> 00:51:52,600
Speaker 3: Ryan go off, Queen Well, I mean, she's right on

887
00:51:52,640 --> 00:51:56,360
Speaker 3: that point, but I also kind of understand a populist

888
00:51:56,400 --> 00:52:00,000
Speaker 3: argument for why the FED actually should be democratically controlled,

889
00:52:00,719 --> 00:52:07,160
Speaker 3: Like this is this is the people's reserve, this is

890
00:52:07,800 --> 00:52:12,680
Speaker 3: the people's monetary policy. Now, I think that there needs

891
00:52:12,719 --> 00:52:19,319
Speaker 3: to be a democratic system applied to it, so it's

892
00:52:19,360 --> 00:52:23,319
Speaker 3: not because if you just allow the president without any

893
00:52:23,320 --> 00:52:28,800
Speaker 3: input from Congress, then he's going to just play games

894
00:52:29,320 --> 00:52:32,880
Speaker 3: with the economy in the you know, leading into every election,

895
00:52:33,239 --> 00:52:38,000
Speaker 3: and that that makes a mockery of democracy because like,

896
00:52:38,560 --> 00:52:41,320
Speaker 3: if the goal is to have the feder be controlled

897
00:52:41,320 --> 00:52:43,759
Speaker 3: by the will of the public, but the will of

898
00:52:43,760 --> 00:52:47,280
Speaker 3: the public is manipulated by the president's control of monetary policy,

899
00:52:47,280 --> 00:52:49,040
Speaker 3: then then you don't actually have that right.

900
00:52:49,040 --> 00:52:51,960
Speaker 2: You're substituting Jerome Powell for Trump, who's at least democratically

901
00:52:52,040 --> 00:52:55,560
Speaker 2: elected but still has what Elizabeth Warren is saying, the

902
00:52:55,640 --> 00:52:59,719
Speaker 2: underlying principle he's using. He's invoked emergency powers for these

903
00:52:59,800 --> 00:53:03,120
Speaker 2: terror for example, which is actually again in principle, sort

904
00:53:03,120 --> 00:53:06,000
Speaker 2: of getst the argument that she's making about the whims

905
00:53:06,160 --> 00:53:09,200
Speaker 2: of a principle being able to dictate these like significant

906
00:53:09,280 --> 00:53:11,879
Speaker 2: market changes, which is historically why investments in the United

907
00:53:11,880 --> 00:53:14,640
Speaker 2: States were different than investments a lot of other places.

908
00:53:15,000 --> 00:53:18,320
Speaker 3: Right, Yeah, we do we like being a global economic

909
00:53:18,520 --> 00:53:20,279
Speaker 3: superpower or not? Like do we like?

910
00:53:21,920 --> 00:53:22,120
Speaker 2: Uh?

911
00:53:22,160 --> 00:53:24,279
Speaker 3: You know what? What what all this really shows is

912
00:53:24,280 --> 00:53:30,719
Speaker 3: that if we want to keep our position as an

913
00:53:30,760 --> 00:53:35,320
Speaker 3: economic superpower, we have to confront massive wealth and income

914
00:53:35,360 --> 00:53:39,560
Speaker 3: inequality because it is making us crazy like that, the

915
00:53:40,719 --> 00:53:44,160
Speaker 3: it is is driving us like economically insane, and we're

916
00:53:44,160 --> 00:53:47,480
Speaker 3: going to then commit economic suicide, which is what we're

917
00:53:47,480 --> 00:53:49,319
Speaker 3: doing now if we don't, if we don't turn if

918
00:53:49,360 --> 00:53:54,080
Speaker 3: we don't turn this around, and that that will put

919
00:53:54,080 --> 00:53:56,919
Speaker 3: a dent in inequality in the sense that it will

920
00:53:56,920 --> 00:53:59,319
Speaker 3: take you know, some of these billionaire's wealth from like,

921
00:53:59,680 --> 00:54:01,800
Speaker 3: you know, five hundred billion down to three hundred billion.

922
00:54:02,000 --> 00:54:04,800
Speaker 3: But that doesn't change their lives and it doesn't make anybody,

923
00:54:04,840 --> 00:54:06,320
Speaker 3: any of us, feel any better.

924
00:54:06,920 --> 00:54:10,600
Speaker 2: So, in the interest of sharing what we mentioned earlier,

925
00:54:10,600 --> 00:54:15,240
Speaker 2: the White Houses, the sort of deals that they're pointing

926
00:54:15,280 --> 00:54:17,279
Speaker 2: to here, I just pulled up a press release that

927
00:54:17,280 --> 00:54:18,880
Speaker 2: they sent. I think this was from last week, but

928
00:54:18,960 --> 00:54:20,800
Speaker 2: you could see they have all of these bullet points.

929
00:54:21,120 --> 00:54:23,360
Speaker 2: JSW Steel announced will be adding jobs that it's Ohio

930
00:54:23,440 --> 00:54:26,080
Speaker 2: Steel plant. BMW is considering adding shifts to boot production

931
00:54:26,160 --> 00:54:28,359
Speaker 2: at South Carolina plant. And I did click through some

932
00:54:28,400 --> 00:54:29,880
Speaker 2: of these last week when I got it, and some

933
00:54:29,920 --> 00:54:34,000
Speaker 2: of them predated Liberation Day, so take that for what

934
00:54:34,040 --> 00:54:37,600
Speaker 2: it is. But Mark announced it will invest eight billion

935
00:54:37,600 --> 00:54:39,439
Speaker 2: in the US for the next several years after opening

936
00:54:39,480 --> 00:54:42,680
Speaker 2: a new billion dollar in North Carolina manufacturing. There are

937
00:54:42,800 --> 00:54:45,120
Speaker 2: some of these example. There are all of these examples,

938
00:54:45,160 --> 00:54:48,600
Speaker 2: some of which are Paris Bagatt and that's the one

939
00:54:48,680 --> 00:54:51,200
Speaker 2: hundred and sixty billion dollars investment, some of which are

940
00:54:51,200 --> 00:54:55,080
Speaker 2: bigger than others. But I think, Grian, this is where

941
00:54:55,320 --> 00:54:59,160
Speaker 2: I'm coming from. In the sort of long term cost

942
00:54:59,200 --> 00:55:03,600
Speaker 2: benefit analys like thirty thousand foot vantage point, you'll look

943
00:55:03,600 --> 00:55:06,359
Speaker 2: at all of these and you can put side by

944
00:55:06,400 --> 00:55:11,080
Speaker 2: side this a list of that's just as long of

945
00:55:11,320 --> 00:55:15,319
Speaker 2: things that have like negative consequences post Liberation Day. And

946
00:55:15,520 --> 00:55:19,280
Speaker 2: so it's just to act as though this is definitively

947
00:55:20,280 --> 00:55:24,400
Speaker 2: I think definitively like good. I think the evidence points

948
00:55:24,680 --> 00:55:28,120
Speaker 2: that it's I don't want to say it's definitively like

949
00:55:28,400 --> 00:55:32,000
Speaker 2: over it's ruined, this isn't do any good. But so

950
00:55:32,120 --> 00:55:34,520
Speaker 2: far I think it seems pretty clear that the bad

951
00:55:34,840 --> 00:55:36,800
Speaker 2: through the uncertainty, is outweighing the good.

952
00:55:36,760 --> 00:55:40,160
Speaker 3: Right And the question is, well, two questions, like how

953
00:55:40,239 --> 00:55:42,400
Speaker 3: many of these announcements are real and how many of

954
00:55:42,400 --> 00:55:44,879
Speaker 3: them are just trying to get on Trump's good side

955
00:55:44,920 --> 00:55:49,640
Speaker 3: to get exemptions from the future tariff policy, which is

956
00:55:49,680 --> 00:55:51,680
Speaker 3: the problem with having just one guy control all the

957
00:55:51,680 --> 00:55:55,040
Speaker 3: tariff policy. And the other is how many of these

958
00:55:55,040 --> 00:56:01,040
Speaker 3: announcements that are real were impossible otherwise, Like we're We're

959
00:56:01,040 --> 00:56:04,640
Speaker 3: a very big, powerful country with a huge market and

960
00:56:04,680 --> 00:56:07,480
Speaker 3: a lot of incentives to offer people. If we wanted

961
00:56:07,760 --> 00:56:10,359
Speaker 3: those companies to do what they're doing invest in our

962
00:56:10,400 --> 00:56:14,480
Speaker 3: country like that, You know that that was happening, that

963
00:56:14,560 --> 00:56:16,239
Speaker 3: it was moving in that direction, and we could keep

964
00:56:16,280 --> 00:56:18,000
Speaker 3: doing it, and we and we and we should have

965
00:56:18,120 --> 00:56:21,960
Speaker 3: like there there is an industrial policy that uses targeted

966
00:56:22,000 --> 00:56:27,719
Speaker 3: tariffs and subsidies and and other economic incentives to move

967
00:56:28,120 --> 00:56:30,360
Speaker 3: in that direction. Just go ahead and do it. Doesn't

968
00:56:30,360 --> 00:56:33,080
Speaker 3: mean you have to bankrupt hundreds of thousands of small

969
00:56:33,080 --> 00:56:34,319
Speaker 3: businesses along the way.

970
00:56:35,640 --> 00:56:39,160
Speaker 2: Uh it's I mean, so now that we're what is

971
00:56:39,200 --> 00:56:43,080
Speaker 2: this the third week of Liberation Day, what is your

972
00:56:43,280 --> 00:56:46,279
Speaker 2: assessment right of just this last week? Right?

973
00:56:47,280 --> 00:56:52,759
Speaker 3: I mean, the he still seems committed to this like

974
00:56:53,239 --> 00:56:57,520
Speaker 3: incorrect understanding of of how he's going to like turn

975
00:56:57,560 --> 00:57:00,200
Speaker 3: this thing around. Like he he does not seem seem

976
00:57:00,239 --> 00:57:04,480
Speaker 3: to understand that China holds the cards and that the

977
00:57:04,640 --> 00:57:09,000
Speaker 3: US does have the capacity to commit economic suicide. And

978
00:57:09,040 --> 00:57:10,840
Speaker 3: he's walking us off that cliff.

979
00:57:12,520 --> 00:57:18,080
Speaker 2: He's well, he obviously maintains he's walking us off.

980
00:57:18,840 --> 00:57:19,919
Speaker 3: To the golden era.

981
00:57:20,080 --> 00:57:23,560
Speaker 2: I was gonna say what he used that what looks

982
00:57:23,600 --> 00:57:26,400
Speaker 2: like a cliff is actually a stairway to heaven.

983
00:57:27,280 --> 00:57:28,200
Speaker 3: Yeah, well it might be.

984
00:57:28,680 --> 00:57:33,480
Speaker 2: It might be that, well, well maybe it'll listen. I'm

985
00:57:33,560 --> 00:57:38,560
Speaker 2: I'm not like as convinced that nothing, nothing good at

986
00:57:38,560 --> 00:57:41,080
Speaker 2: all will come of this, But I think as time

987
00:57:41,080 --> 00:57:44,000
Speaker 2: wears on, there's no industrial policy that's being coupled with us,

988
00:57:44,040 --> 00:57:46,960
Speaker 2: no significant industrial policy that's being coupled with this. There

989
00:57:47,000 --> 00:57:51,760
Speaker 2: is no certainty on the horizon. It is just indefinite uncertainty,

990
00:57:52,800 --> 00:57:55,600
Speaker 2: not just a week of uncertainty that's used as leverage

991
00:57:55,680 --> 00:57:58,480
Speaker 2: just to cure really obviously good deals, and we still

992
00:57:58,840 --> 00:58:01,320
Speaker 2: over the course of this week not gotten evidence of

993
00:58:01,440 --> 00:58:04,640
Speaker 2: significantly good deals. If seventy seventy five countries are calling

994
00:58:04,640 --> 00:58:06,240
Speaker 2: the White House up, and I'm sure some of them

995
00:58:06,240 --> 00:58:10,120
Speaker 2: are because we do have China has cards, we obviously

996
00:58:10,200 --> 00:58:13,720
Speaker 2: have cards too, because we have a massive market of consumers,

997
00:58:13,760 --> 00:58:17,120
Speaker 2: a huge consumer market. So there's you know, there's a

998
00:58:17,120 --> 00:58:20,840
Speaker 2: lot to be negotiated. But I just I mean, obviously

999
00:58:20,880 --> 00:58:23,560
Speaker 2: Maloney was here this week. I don't know how much

1000
00:58:23,560 --> 00:58:26,200
Speaker 2: progress was made, and the EU does want to cut

1001
00:58:26,200 --> 00:58:30,240
Speaker 2: a deal with us, but I've just haven't seen a

1002
00:58:30,280 --> 00:58:33,160
Speaker 2: lot of emergent evidence in this last week that those

1003
00:58:33,160 --> 00:58:35,640
Speaker 2: deals are really significant and being cut.

1004
00:58:36,160 --> 00:58:39,120
Speaker 3: Right. That's the other thing is that these deals could

1005
00:58:39,160 --> 00:58:43,400
Speaker 3: be cut without trying to blow up the world like he.

1006
00:58:44,480 --> 00:58:46,640
Speaker 3: I see all of his defenders talking as if the

1007
00:58:46,680 --> 00:58:49,200
Speaker 3: only way for the United States to get like Maloney

1008
00:58:49,240 --> 00:58:52,400
Speaker 3: on the phone is to first blow up the world,

1009
00:58:52,640 --> 00:58:57,160
Speaker 3: like again, have some self respect. The United States of America,

1010
00:58:57,240 --> 00:59:01,840
Speaker 3: the most powerful country history of the world. You want

1011
00:59:01,840 --> 00:59:05,040
Speaker 3: to trade deal with EU, you can do a trade

1012
00:59:05,040 --> 00:59:09,400
Speaker 3: deal with the EU. You don't have to throw his

1013
00:59:09,400 --> 00:59:12,680
Speaker 3: appertantrum to get that to get those calls. Like I

1014
00:59:12,720 --> 00:59:14,960
Speaker 3: see all his defenders saying all his phone is ringing

1015
00:59:14,960 --> 00:59:17,280
Speaker 3: off the hill. He's the president of the United States.

1016
00:59:18,080 --> 00:59:20,200
Speaker 3: He can get anybody on the phone he wants. He

1017
00:59:20,280 --> 00:59:24,000
Speaker 3: didn't need to do this. He has significantly weakened his

1018
00:59:24,040 --> 00:59:25,280
Speaker 3: own negotiating position.

1019
00:59:25,560 --> 00:59:26,960
Speaker 2: I think there's an argument just to.

1020
00:59:26,920 --> 00:59:30,120
Speaker 3: Get Maloney on the phone or in the Oval office.

1021
00:59:30,440 --> 00:59:33,919
Speaker 2: I think there's an argument that if the uncertainty had

1022
00:59:33,960 --> 00:59:39,040
Speaker 2: been that dramatic for a week, that is actually significant leverage.

1023
00:59:39,080 --> 00:59:41,600
Speaker 2: That signals you are, like, this is Donald Trump not

1024
00:59:41,640 --> 00:59:45,080
Speaker 2: messing around, and he's completely serious about doing what everyone

1025
00:59:45,080 --> 00:59:48,280
Speaker 2: thinks is crazy. He doesn't think it's crazy. And if

1026
00:59:48,320 --> 00:59:50,280
Speaker 2: he maintains it for a week, maybe he maintains it

1027
00:59:50,320 --> 00:59:55,240
Speaker 2: for two weeks, then you know, you signal to people

1028
00:59:55,320 --> 00:59:57,600
Speaker 2: it's always like foreign policy, like he is not. This

1029
00:59:57,720 --> 01:00:00,800
Speaker 2: is not him just throwing out different range ideas like

1030
01:00:00,840 --> 01:00:04,720
Speaker 2: taking Canada. It's not him like joking around about the

1031
01:00:04,720 --> 01:00:07,480
Speaker 2: fifty first state. This is completely serious. But now we're

1032
01:00:07,480 --> 01:00:11,760
Speaker 2: just lingering into this ninety day pause period of uncertainty

1033
01:00:11,800 --> 01:00:14,440
Speaker 2: on the reciprocal tariffs. And it's the water is so

1034
01:00:14,520 --> 01:00:16,880
Speaker 2: completely muddy, and so if you keep this up long

1035
01:00:16,960 --> 01:00:19,840
Speaker 2: enough that uncertainty means people are going to choose to

1036
01:00:19,880 --> 01:00:24,520
Speaker 2: invest elsewhere, and it doesn't become its value as leverage

1037
01:00:24,600 --> 01:00:29,760
Speaker 2: is overtaken by the cost of people needing certainty and

1038
01:00:29,840 --> 01:00:31,280
Speaker 2: choosing where they can get certainty.

1039
01:00:31,600 --> 01:00:34,040
Speaker 3: Yeah, And I just don't I just don't think that repeatedly,

1040
01:00:34,200 --> 01:00:37,640
Speaker 3: like banging yourself over the head with a hammer, is

1041
01:00:37,680 --> 01:00:41,920
Speaker 3: a way of showing that you're serious. Yeah, that shows

1042
01:00:41,920 --> 01:00:45,040
Speaker 3: you're a crazy person that is eventually going to knock

1043
01:00:45,080 --> 01:00:45,720
Speaker 3: yourself out.

1044
01:00:46,400 --> 01:00:48,600
Speaker 2: Well, I think you could show your crazy person, yeah,

1045
01:00:48,680 --> 01:00:51,560
Speaker 2: like briefly and then you have to return from the

1046
01:00:51,640 --> 01:00:52,720
Speaker 2: events to actually.

1047
01:00:52,440 --> 01:00:54,560
Speaker 3: Get to see those just two hammer blows.

1048
01:00:54,800 --> 01:00:57,640
Speaker 2: Yes, all right, thank you guys so much for watching.

1049
01:00:57,680 --> 01:00:59,640
Speaker 1: We really appreciate you. If you're just listening to this

1050
01:00:59,680 --> 01:01:01,280
Speaker 1: on the show, if you want to be able to

1051
01:01:01,280 --> 01:01:03,680
Speaker 1: see everything that Ryan and Emily discussed today, you can

1052
01:01:03,720 --> 01:01:05,960
Speaker 1: sign up at breakingpoints dot com. All of our premium

1053
01:01:06,000 --> 01:01:09,080
Speaker 1: subscribers will have access to the full episode, as well

1054
01:01:09,080 --> 01:01:12,120
Speaker 1: as AMA's with Crystal and I more live streams, much

1055
01:01:12,240 --> 01:01:14,120
Speaker 1: much more. We have a five day a week here show,

1056
01:01:14,120 --> 01:01:16,360
Speaker 1: which we're really excited. This is how that we're able

1057
01:01:16,360 --> 01:01:18,400
Speaker 1: to enable all of the costs to go into that,

1058
01:01:18,480 --> 01:01:20,840
Speaker 1: so we really appreciate you from breakingpoints dot com.

1059
01:01:20,840 --> 01:01:22,160
Speaker 2: If you're able, we'll see you later.