1 00:00:00,320 --> 00:00:01,040 Speaker 1: Very important. 2 00:00:01,200 --> 00:00:03,560 Speaker 2: But is this going to include Liberation Day movement? And 3 00:00:03,640 --> 00:00:07,400 Speaker 2: here we go the job Job Jobs report for April. 4 00:00:07,120 --> 00:00:07,960 Speaker 3: Hitting the wires. 5 00:00:08,280 --> 00:00:13,520 Speaker 2: Non farm payrolls a greater one hundred and seventy seven thousand. 6 00:00:13,800 --> 00:00:16,240 Speaker 2: We're expecting, as Joe pointed out, one hundred and thirty 7 00:00:16,239 --> 00:00:19,200 Speaker 2: three thousand, one hundred and seventy seven thousand would be 8 00:00:19,520 --> 00:00:22,200 Speaker 2: the second best of the year outside of what's in 9 00:00:22,239 --> 00:00:25,640 Speaker 2: the rear view mirror, which was two hundred twenty eight thousand. 10 00:00:25,840 --> 00:00:29,600 Speaker 2: That becomes one hundred and eighty five thousand because the 11 00:00:29,680 --> 00:00:33,080 Speaker 2: two month adjustment is minus fifty eight thousand. 12 00:00:33,320 --> 00:00:34,599 Speaker 3: Now let's go to U three. 13 00:00:34,720 --> 00:00:39,560 Speaker 2: The unemployment rate remains at four point two percent. Let's 14 00:00:39,600 --> 00:00:42,519 Speaker 2: look at the average hourly earnings on a month over 15 00:00:42,600 --> 00:00:46,760 Speaker 2: month basis expected up three tens comes in light up 16 00:00:46,800 --> 00:00:49,960 Speaker 2: two tenths of a percent equally in February. To find 17 00:00:50,000 --> 00:00:52,840 Speaker 2: a smaller number, you have to go all the way 18 00:00:52,880 --> 00:00:56,040 Speaker 2: back to August of twenty three. Now, let's look at 19 00:00:56,040 --> 00:00:59,400 Speaker 2: earnings on a year over year basis, also one tenth 20 00:00:59,520 --> 00:01:02,720 Speaker 2: light three point eight. We're looking for three point nine. 21 00:01:03,000 --> 00:01:06,200 Speaker 2: Three point eight equals the rearview mirror. And if we 22 00:01:06,240 --> 00:01:09,920 Speaker 2: look at the work week, the hours worked all employees 23 00:01:10,200 --> 00:01:13,679 Speaker 2: thirty four point three. That's good news. We upticked it 24 00:01:13,840 --> 00:01:17,480 Speaker 2: one tick based on what we were expecting, which was 25 00:01:17,520 --> 00:01:20,880 Speaker 2: thirty four point two. But the revision, I was looking 26 00:01:20,880 --> 00:01:23,080 Speaker 2: at the rearview mirror thirty four point two, where we 27 00:01:23,120 --> 00:01:25,560 Speaker 2: gained a tenth on this reading. But last month was 28 00:01:25,600 --> 00:01:29,080 Speaker 2: revised to thirty four point three. And you know we've 29 00:01:29,080 --> 00:01:31,240 Speaker 2: had a lot of thirty four point threes and twenty 30 00:01:31,280 --> 00:01:33,840 Speaker 2: four To find a higher work week, you're going back 31 00:01:33,840 --> 00:01:36,399 Speaker 2: to January of twenty three when it jumped up to 32 00:01:36,440 --> 00:01:38,199 Speaker 2: thirty four point six. 33 00:01:38,560 --> 00:01:40,559 Speaker 3: Now let's look at the U six. 34 00:01:40,640 --> 00:01:45,080 Speaker 2: This excuse me, labor force participation right, this is very key, 35 00:01:45,319 --> 00:01:46,560 Speaker 2: and it kicked up again. 36 00:01:46,640 --> 00:01:47,880 Speaker 3: This is really good news. 37 00:01:48,080 --> 00:01:51,800 Speaker 2: Sixty two point six a tenth better than both Winshield 38 00:01:51,880 --> 00:01:55,200 Speaker 2: and Rearview Mirror. Sixty two point six would equal the 39 00:01:55,200 --> 00:01:55,960 Speaker 2: best read. 40 00:01:55,760 --> 00:01:56,080 Speaker 4: Of the year. 41 00:01:56,120 --> 00:01:57,320 Speaker 3: To find a higher read, you're. 42 00:01:57,160 --> 00:02:00,960 Speaker 2: In November of last year, and I'm sorry September. Let's 43 00:02:00,960 --> 00:02:03,960 Speaker 2: make that sep of last year. Finally, drummroll please, Joe, 44 00:02:03,960 --> 00:02:07,440 Speaker 2: and the gang U six or the under employment rate 45 00:02:07,760 --> 00:02:11,200 Speaker 2: comes in at seven point eight. That is one tenth 46 00:02:11,360 --> 00:02:13,079 Speaker 2: lighter than seven point nine in the. 47 00:02:13,040 --> 00:02:13,880 Speaker 3: Rear view mirror. 48 00:02:14,080 --> 00:02:17,079 Speaker 2: So that also is indeed good news. You can see 49 00:02:17,080 --> 00:02:20,720 Speaker 2: the markets yields are going up. Joe selling treasuries. That 50 00:02:21,200 --> 00:02:24,560 Speaker 2: is basically a verification that the report's a little stronger 51 00:02:24,600 --> 00:02:28,000 Speaker 2: than expected, and the preopening equities seem to like the 52 00:02:28,080 --> 00:02:28,840 Speaker 2: trade as. 53 00:02:28,680 --> 00:02:29,960 Speaker 3: Well, moving higher. 54 00:02:30,080 --> 00:02:33,120 Speaker 2: Just to point out, we broke some streaks of lower 55 00:02:33,160 --> 00:02:34,400 Speaker 2: closing meals. 56 00:02:34,120 --> 00:02:36,840 Speaker 3: Yesterday in both twos and tens back to. 57 00:02:36,840 --> 00:02:39,760 Speaker 5: Youths, and I think it's important to look at them 58 00:02:39,760 --> 00:02:42,080 Speaker 5: carefully because I think we're starting to sort of get 59 00:02:42,080 --> 00:02:44,000 Speaker 5: a little hyperbolics thing. We're going to have a depression, 60 00:02:44,000 --> 00:02:46,080 Speaker 5: as you guys point out, we're going to end up 61 00:02:46,120 --> 00:02:49,040 Speaker 5: probably with maybe not a recession, but certainly slower growth 62 00:02:49,080 --> 00:02:51,639 Speaker 5: than we could otherwise have, in part because the economy 63 00:02:51,680 --> 00:02:54,360 Speaker 5: is so strong going in so well it isn't good. 64 00:02:54,960 --> 00:02:57,520 Speaker 5: I think we're starting to see that this might not be, 65 00:02:57,680 --> 00:03:00,839 Speaker 5: you know, horrible, but just not all it could be. 66 00:03:01,120 --> 00:03:03,920 Speaker 6: Look, it's good news. It's impossible to say it's not 67 00:03:04,080 --> 00:03:06,799 Speaker 6: good news. The real question is what comes next and 68 00:03:07,360 --> 00:03:09,560 Speaker 6: what are we really going to see next month and 69 00:03:09,600 --> 00:03:12,640 Speaker 6: the month after. I think that's really the fundamental question. 70 00:03:12,800 --> 00:03:16,400 Speaker 6: It's not to dismiss this number. It's important to see 71 00:03:16,400 --> 00:03:19,200 Speaker 6: that actually things have held up, perhaps better than. 72 00:03:19,120 --> 00:03:20,360 Speaker 4: Some people had expected. 73 00:03:20,680 --> 00:03:23,720 Speaker 6: But the question is, now that this tariff piece is 74 00:03:24,040 --> 00:03:27,040 Speaker 6: starting to really start to move through the economy, what's 75 00:03:27,120 --> 00:03:27,600 Speaker 6: that going. 76 00:03:27,480 --> 00:03:27,960 Speaker 4: To look like. 77 00:03:28,080 --> 00:03:31,840 Speaker 6: It also, to some degree, alleviates some of the pressure 78 00:03:32,400 --> 00:03:32,679 Speaker 6: on J. 79 00:03:32,880 --> 00:03:34,120 Speaker 4: Powell and the Federal Reserve. 80 00:03:34,200 --> 00:03:38,760 Speaker 6: Despite the President saying over and over again that J. 81 00:03:38,920 --> 00:03:43,120 Speaker 6: Powell should have been lowering interest rates because the economy 82 00:03:43,200 --> 00:03:46,640 Speaker 6: needs the juice, this would suggest, actually the things are 83 00:03:46,680 --> 00:03:47,200 Speaker 6: holding up. 84 00:03:47,240 --> 00:03:48,200 Speaker 4: By the way, I should mention. 85 00:03:48,280 --> 00:03:51,440 Speaker 6: President Trump just out on truth social within the last 86 00:03:51,480 --> 00:03:54,400 Speaker 6: couple of minutes again saying look at all of these 87 00:03:54,480 --> 00:03:58,600 Speaker 6: numbers and asking the Fed for lower interest rates. 88 00:03:58,880 --> 00:04:00,360 Speaker 4: One thing that's worth noting, though. 89 00:04:00,200 --> 00:04:03,800 Speaker 6: As you look at bonds, for example, treasuries have come down, 90 00:04:04,000 --> 00:04:09,200 Speaker 6: gas has come down, those are either indicating either their 91 00:04:09,240 --> 00:04:13,200 Speaker 6: indicators that people expect a recession is coming and that 92 00:04:13,280 --> 00:04:15,280 Speaker 6: the reason why gas prices are down is because we 93 00:04:15,280 --> 00:04:19,520 Speaker 6: have a potential demand problem or something else is going on, 94 00:04:19,520 --> 00:04:20,919 Speaker 6: and so we're going to have to see all that 95 00:04:20,960 --> 00:04:22,880 Speaker 6: play out again. I think that's still a month or 96 00:04:22,920 --> 00:04:25,400 Speaker 6: two away before we can really take a true measure 97 00:04:25,400 --> 00:04:25,760 Speaker 6: of all this. 98 00:04:26,000 --> 00:04:27,880 Speaker 3: But what I missed something Joe? 99 00:04:28,279 --> 00:04:30,760 Speaker 2: I missed when there was certainty and everybody knew where 100 00:04:30,760 --> 00:04:31,919 Speaker 2: interest rates were going. 101 00:04:31,720 --> 00:04:34,680 Speaker 3: With how did I miss that chapter? Actually I find 102 00:04:34,720 --> 00:04:35,560 Speaker 3: this hysterical. 103 00:04:35,760 --> 00:04:38,600 Speaker 2: I just did a big Wells Fargo event, and all 104 00:04:38,640 --> 00:04:42,120 Speaker 2: these big institutions were, of course talking about, you know, 105 00:04:42,200 --> 00:04:45,240 Speaker 2: interest rates are different inequities. We're always a little nervous to, 106 00:04:45,400 --> 00:04:48,280 Speaker 2: you know, put our face on where interest rates are 107 00:04:48,279 --> 00:04:50,720 Speaker 2: going to be. Now, all of a sudden we inject 108 00:04:50,720 --> 00:04:54,200 Speaker 2: this terrif uncertainty and pre terrorfuncertainty. 109 00:04:54,200 --> 00:04:57,720 Speaker 3: Everybody knew everything about markets. Listen, there's risks in markets. 110 00:04:57,839 --> 00:05:01,520 Speaker 3: I find it so fascinating. Market's been up with fourteen 111 00:05:01,600 --> 00:05:02,240 Speaker 3: days in a row. 112 00:05:02,360 --> 00:05:05,080 Speaker 2: Our stock markets have been green a lot lately, and 113 00:05:05,200 --> 00:05:07,760 Speaker 2: yet that's all we do is continue to talk about 114 00:05:07,880 --> 00:05:10,640 Speaker 2: how everything green is turning brown, how we've gone from 115 00:05:10,680 --> 00:05:14,120 Speaker 2: spring to fall. The key and the conversation so far 116 00:05:14,320 --> 00:05:15,800 Speaker 2: is man made. 117 00:05:16,000 --> 00:05:19,440 Speaker 3: Man made. This is not an exogenous shock. Can't treat 118 00:05:19,440 --> 00:05:19,960 Speaker 3: it that way. 119 00:05:20,160 --> 00:05:22,520 Speaker 2: And how it all turns out no matter if it 120 00:05:22,600 --> 00:05:24,839 Speaker 2: was a good thing a bad thing, of mistake, I 121 00:05:24,880 --> 00:05:25,800 Speaker 2: don't care about that. 122 00:05:26,000 --> 00:05:28,000 Speaker 3: I'm a market guy, and the markets are. 123 00:05:27,920 --> 00:05:30,520 Speaker 2: Looking past the rhetoric and the fact that it's man 124 00:05:30,560 --> 00:05:33,120 Speaker 2: made means it's going to end differently, and it's very 125 00:05:33,120 --> 00:05:34,200 Speaker 2: difficult to model. 126 00:05:37,080 --> 00:05:42,239 Speaker 1: This is the primal scream of a dying regime. Pray 127 00:05:42,320 --> 00:05:45,640 Speaker 1: for our enemies, because we're going to medieval. 128 00:05:45,160 --> 00:05:45,760 Speaker 4: On these people. 129 00:05:47,000 --> 00:05:49,600 Speaker 2: You're not going to free shot all these networks lying 130 00:05:50,400 --> 00:05:51,240 Speaker 2: about the people. 131 00:05:51,320 --> 00:05:53,320 Speaker 1: The people have had a belly full of it. I 132 00:05:53,360 --> 00:05:55,240 Speaker 1: know you don't like hearing that. I know you're trying 133 00:05:55,240 --> 00:05:56,479 Speaker 1: to do everything in the world to stop that, but 134 00:05:56,520 --> 00:05:58,440 Speaker 1: you're not going to stop it. It's going to happen. 135 00:05:58,600 --> 00:06:00,800 Speaker 4: And where do people like that go to share the 136 00:06:00,839 --> 00:06:01,400 Speaker 4: big line? 137 00:06:02,080 --> 00:06:03,320 Speaker 7: Mega media? 138 00:06:03,440 --> 00:06:06,560 Speaker 1: I wish in my soul, I wish that any of 139 00:06:06,600 --> 00:06:08,159 Speaker 1: these people had a conscience. 140 00:06:08,880 --> 00:06:12,040 Speaker 8: Ask yourself, what is my task and what is my purpose? 141 00:06:12,680 --> 00:06:14,880 Speaker 3: If that answer is to save. 142 00:06:14,800 --> 00:06:18,799 Speaker 1: My country, this country will be saved. 143 00:06:19,960 --> 00:06:22,040 Speaker 7: Use your host, Stephen k Back. 144 00:06:27,240 --> 00:06:29,120 Speaker 1: It's Friday, two May in the ear of our Lord, 145 00:06:29,200 --> 00:06:32,320 Speaker 1: twenty twenty five. What a week. Another epic week. And 146 00:06:32,440 --> 00:06:37,440 Speaker 1: of course the engine room informs me that the business 147 00:06:37,480 --> 00:06:42,400 Speaker 1: media has an antibody that they cannot accept epic great 148 00:06:42,480 --> 00:06:45,880 Speaker 1: news on the face of it, even drilling down below it. 149 00:06:46,000 --> 00:06:49,120 Speaker 1: Rick Santelli there the great Rickan Telly laying out kind 150 00:06:49,160 --> 00:06:55,640 Speaker 1: of a blowout jobs number. Remember Liberation Day two weeks ago. 151 00:06:56,240 --> 00:07:00,320 Speaker 1: Every screaming headline, it's the worst stock market since the end, 152 00:07:00,720 --> 00:07:04,560 Speaker 1: since the Great Depression, since Black Thursday. It's the end 153 00:07:04,600 --> 00:07:07,440 Speaker 1: of the world. The world is ending. Remember all those 154 00:07:07,480 --> 00:07:09,800 Speaker 1: fund is. Remember all these are the business people, not 155 00:07:09,800 --> 00:07:12,040 Speaker 1: not the political people with hair on fire. This is 156 00:07:12,080 --> 00:07:16,920 Speaker 1: the business especially the folks have fiduciary responsibility and kind 157 00:07:16,960 --> 00:07:22,320 Speaker 1: of judicious and discernment, attack, attack, attack on everything Trump 158 00:07:22,360 --> 00:07:25,160 Speaker 1: and sound like little children run around. Oh my gosh, 159 00:07:25,240 --> 00:07:27,920 Speaker 1: we don't have enough toys. The toys is not enough toys. 160 00:07:30,120 --> 00:07:33,720 Speaker 1: The immaturity and the lack of seriousness of our elites 161 00:07:34,920 --> 00:07:38,720 Speaker 1: is is shocking. And right there that is called a 162 00:07:38,760 --> 00:07:42,680 Speaker 1: great print. Okay, even the negative print the other day 163 00:07:42,720 --> 00:07:45,520 Speaker 1: on the on GDP, when you went one level down 164 00:07:45,560 --> 00:07:50,800 Speaker 1: below the numbers, it's actually fairly strong. President Trump is 165 00:07:50,840 --> 00:07:55,880 Speaker 1: set in motion the most fundamental reorganization of the world's 166 00:07:56,000 --> 00:08:02,200 Speaker 1: commercial relationships and patterns, as codified by trade deals with 167 00:08:02,720 --> 00:08:07,600 Speaker 1: non terryf Farris, terrorists, everything, all this complexity, but at 168 00:08:07,680 --> 00:08:12,560 Speaker 1: fundamentally it's a basic reset for the reindustrialization of the 169 00:08:12,560 --> 00:08:14,640 Speaker 1: greatest country on earth, that would be the United States 170 00:08:14,640 --> 00:08:17,880 Speaker 1: of America and putting America first and putting American citizens first, 171 00:08:18,400 --> 00:08:21,040 Speaker 1: and right there of course. Andrew Ross Sorkin in the 172 00:08:21,080 --> 00:08:24,680 Speaker 1: New York Times, Hey, you know, Trump just put on 173 00:08:24,720 --> 00:08:29,080 Speaker 1: true social gasoline below two bucks, folks. You're rolling up 174 00:08:29,080 --> 00:08:31,000 Speaker 1: to Memorial Day and gasoline is going to be under 175 00:08:31,040 --> 00:08:34,120 Speaker 1: two bucks. How is that going for helping people in 176 00:08:34,160 --> 00:08:36,360 Speaker 1: there in the in their in their wallets and with 177 00:08:36,400 --> 00:08:38,199 Speaker 1: the credit card debt and all the problems they got. 178 00:08:38,800 --> 00:08:41,160 Speaker 1: How is that? How's that? How's that? How's that about 179 00:08:41,160 --> 00:08:45,440 Speaker 1: helping them across the board? Just fantastic news to night, 180 00:08:45,480 --> 00:08:47,840 Speaker 1: great news out of the United Kingdom last night. The 181 00:08:47,920 --> 00:08:52,280 Speaker 1: Reform Party is essentially replaced the Tory Party, or in 182 00:08:52,360 --> 00:08:56,480 Speaker 1: the process of now actually replacing a blowout local elections 183 00:08:56,480 --> 00:09:00,200 Speaker 1: for Niger Ferajan team and NIGERLA is traveling around the 184 00:09:00,200 --> 00:09:03,920 Speaker 1: the countryside in England in this kind of after the 185 00:09:03,960 --> 00:09:05,679 Speaker 1: aftermath that we're going to get nigerl try to get 186 00:09:05,760 --> 00:09:08,719 Speaker 1: Nigel out this afternoon on the Afternoon Show. I want 187 00:09:08,760 --> 00:09:14,239 Speaker 1: to go to one of the FCC committee, folks. Nathan Simonton, 188 00:09:14,840 --> 00:09:17,280 Speaker 1: a commissioner of the Federal Communications Commission. 189 00:09:17,480 --> 00:09:17,640 Speaker 3: Sir. 190 00:09:17,800 --> 00:09:20,080 Speaker 1: He wrote a great piece with Gavin wax Up in 191 00:09:20,120 --> 00:09:23,920 Speaker 1: The Daily Caller about the reindustrialization of America. Can you 192 00:09:24,400 --> 00:09:26,760 Speaker 1: walk us through your piece in detail? 193 00:09:28,240 --> 00:09:30,679 Speaker 9: Absolutely delighted to have a chance to talk about it. 194 00:09:30,760 --> 00:09:33,760 Speaker 9: There's probably there's probably no bigger issue in the United 195 00:09:33,800 --> 00:09:38,880 Speaker 9: States today. So so industrialization, you know, that's a step 196 00:09:38,880 --> 00:09:42,120 Speaker 9: forward economically. Countries that aren't industrialized, you know, we consider 197 00:09:42,160 --> 00:09:44,840 Speaker 9: those sort of backward countries that need to develop. The 198 00:09:44,960 --> 00:09:47,760 Speaker 9: United States is in an interesting position there because a 199 00:09:47,800 --> 00:09:50,600 Speaker 9: lot of the key technologies, in some cases, in some sectors, 200 00:09:50,640 --> 00:09:54,040 Speaker 9: all of the key technologies that create the modern world, 201 00:09:54,120 --> 00:09:57,360 Speaker 9: that really create the modern life that we live, originated 202 00:09:57,400 --> 00:10:00,600 Speaker 9: in the United States, and yet increasingly we've find ourselves 203 00:10:00,720 --> 00:10:05,160 Speaker 9: unable to manufacture them. This is I think this is 204 00:10:05,400 --> 00:10:08,000 Speaker 9: an overdetermined result. There were a lot of factors playing 205 00:10:08,000 --> 00:10:10,040 Speaker 9: into this. But at the end of the day, I 206 00:10:10,040 --> 00:10:13,079 Speaker 9: think Americans look around and say, you know, they told 207 00:10:13,120 --> 00:10:15,760 Speaker 9: us it doesn't make sense to make things here anymore, 208 00:10:15,800 --> 00:10:19,640 Speaker 9: and they're just struggling to comprehend what that means. Does 209 00:10:19,640 --> 00:10:21,640 Speaker 9: that mean that there's a problem with Americans that they 210 00:10:21,640 --> 00:10:24,559 Speaker 9: were somehow just not as good does it mean that 211 00:10:24,679 --> 00:10:28,000 Speaker 9: there's that there are just better jobs on offer all 212 00:10:28,040 --> 00:10:31,240 Speaker 9: over the place. You know, that argument was a little 213 00:10:31,240 --> 00:10:33,160 Speaker 9: bit more plausible the first time I created it around 214 00:10:33,240 --> 00:10:35,800 Speaker 9: ninety one ninety two. We've had the more than thirty 215 00:10:35,880 --> 00:10:39,760 Speaker 9: years of experience showing us that very often when the 216 00:10:39,960 --> 00:10:43,640 Speaker 9: industrial jobs went away, what replaced them were not superior 217 00:10:43,640 --> 00:10:47,120 Speaker 9: service sector jobs there. You know, they were gig economy jobs. 218 00:10:47,120 --> 00:10:49,679 Speaker 9: They were part time security guarded jobs. And I think 219 00:10:49,679 --> 00:10:51,480 Speaker 9: there are a lot of Americans who want to work 220 00:10:51,520 --> 00:10:54,120 Speaker 9: and want to produce and want to contribute to our 221 00:10:54,559 --> 00:10:58,439 Speaker 9: prosperity and are just feeling locked out. That's the social side, 222 00:10:58,440 --> 00:11:01,800 Speaker 9: on the technical side. On the technical side, it's also 223 00:11:01,840 --> 00:11:04,559 Speaker 9: important to reset on China. You can talk about manufacturing 224 00:11:04,600 --> 00:11:07,079 Speaker 9: without talking about China because China is such a huge 225 00:11:07,080 --> 00:11:10,360 Speaker 9: presence in export manufacturing. In some cases, they're the whole game. 226 00:11:11,040 --> 00:11:14,079 Speaker 9: And what we're seeing here is the image of China. 227 00:11:14,120 --> 00:11:17,480 Speaker 9: The old image of made in China was cheap toys, trinkets, 228 00:11:17,920 --> 00:11:20,719 Speaker 9: low quality products that didn't have a buyer on the 229 00:11:20,760 --> 00:11:22,839 Speaker 9: world market unless it was just on the basis of 230 00:11:22,920 --> 00:11:26,160 Speaker 9: cheap labor. But China is no longer a cheap labor jurisdiction, 231 00:11:26,280 --> 00:11:29,679 Speaker 9: or rather it's a complex mix. You've got people who 232 00:11:29,720 --> 00:11:32,400 Speaker 9: are definitely doing the cheap labor stuff. China still has 233 00:11:32,480 --> 00:11:34,360 Speaker 9: hundreds of millions of people that it wants to bring 234 00:11:34,400 --> 00:11:38,200 Speaker 9: into an industrial economy, and if you're a subsistence farmer, 235 00:11:38,360 --> 00:11:42,640 Speaker 9: then moving up to sewing in a sweatshop is definitely 236 00:11:42,640 --> 00:11:44,720 Speaker 9: a step up. It was when Americans chose to do 237 00:11:44,760 --> 00:11:47,120 Speaker 9: that in the early twentieth century, and it is for 238 00:11:47,240 --> 00:11:51,720 Speaker 9: poor people in China today. But China also has a 239 00:11:51,760 --> 00:11:55,319 Speaker 9: genuine middle class now a technically advanced middle class, and 240 00:11:55,400 --> 00:11:59,520 Speaker 9: a highly technically advanced manufacturing sector, not just manufacturing, but 241 00:11:59,559 --> 00:12:02,600 Speaker 9: also logistics, the inputs for R and D. The truth 242 00:12:02,720 --> 00:12:07,760 Speaker 9: is that the synthesis between robotics AI and advanced wireless networks, 243 00:12:07,800 --> 00:12:10,600 Speaker 9: particularly five G, is happening in China in a way 244 00:12:10,640 --> 00:12:13,120 Speaker 9: that it's not yet happening here in the United States. 245 00:12:13,320 --> 00:12:16,680 Speaker 9: And if we don't gain some ability to act in 246 00:12:16,720 --> 00:12:19,360 Speaker 9: this space, then every other country in the world that 247 00:12:19,400 --> 00:12:22,240 Speaker 9: wants to modernize is going to modernize on Chinese technology, 248 00:12:22,480 --> 00:12:25,520 Speaker 9: sometimes with full awareness that this means that everything is 249 00:12:25,520 --> 00:12:28,319 Speaker 9: going back to Beijing, because if they're the only game 250 00:12:28,360 --> 00:12:31,360 Speaker 9: in town and we're not on the board, then everyone 251 00:12:31,400 --> 00:12:34,439 Speaker 9: else who has responsibilities for their own economic development and 252 00:12:34,800 --> 00:12:37,720 Speaker 9: national destiny, they're going to be forced to choose with 253 00:12:37,840 --> 00:12:38,480 Speaker 9: their eyes open. 254 00:12:40,720 --> 00:12:42,640 Speaker 1: Nathan. And by the way, i'd like to hold you 255 00:12:42,640 --> 00:12:44,240 Speaker 1: through the break. I know you're packed today, one of 256 00:12:44,240 --> 00:12:48,960 Speaker 1: the commissioners over the FCC President Trump's appointees. But well, first, 257 00:12:49,040 --> 00:12:54,079 Speaker 1: before we go to break FCC communications intellectual property. I 258 00:12:54,200 --> 00:12:56,720 Speaker 1: keep talking to the folks here about it's not simply 259 00:12:56,760 --> 00:12:58,880 Speaker 1: a thirty seven trillion dollars in debt. By the way, 260 00:12:58,920 --> 00:13:02,240 Speaker 1: President Trump put at the budge for FY twenty six. 261 00:13:02,280 --> 00:13:05,959 Speaker 1: I'm gonna get to that in a little bit and 262 00:13:06,040 --> 00:13:07,679 Speaker 1: a lot of good news there. You guys are gonna 263 00:13:07,760 --> 00:13:10,320 Speaker 1: like what you hear. Not perfect, but hey, it's not 264 00:13:10,360 --> 00:13:15,160 Speaker 1: a perfect world. But directionally it's really strong intellectual property. 265 00:13:15,280 --> 00:13:17,760 Speaker 1: The stealing. I'll tell you what. Hang on, I'm gonna 266 00:13:17,760 --> 00:13:19,480 Speaker 1: ask you this and get to it after the after 267 00:13:19,520 --> 00:13:22,640 Speaker 1: the break. We have thirty seven trillion dollars in debt. 268 00:13:22,640 --> 00:13:24,680 Speaker 1: We're adding to tradeing dollars I don't know, every hundred 269 00:13:24,760 --> 00:13:27,320 Speaker 1: days or so, or at least before President Trump got here, 270 00:13:27,760 --> 00:13:31,520 Speaker 1: we have a twenty five trillion dollar trade devasit eighteen 271 00:13:31,600 --> 00:13:35,679 Speaker 1: training that's specifically tied to China since they came on 272 00:13:35,760 --> 00:13:39,680 Speaker 1: board through the World Trade Organization and Most Favored Nation, 273 00:13:40,280 --> 00:13:43,280 Speaker 1: and we have about a twenty five trillion dollar devasit. 274 00:13:43,320 --> 00:13:46,560 Speaker 1: As far as intellectual property, they've either stolen or forced 275 00:13:46,559 --> 00:13:51,040 Speaker 1: from American companies in these joint ventures. That intellectual property 276 00:13:51,160 --> 00:13:53,880 Speaker 1: is the is the backbone of how China has ripped 277 00:13:53,880 --> 00:13:57,840 Speaker 1: off the American people. Nathan Simonson's with us from the FCC. 278 00:13:58,360 --> 00:14:01,679 Speaker 1: We're gonna Jim Rickards join us at Geopolitics. Capital markets 279 00:14:01,720 --> 00:14:05,840 Speaker 1: a blowout number today in President Trump's economy. Wall Street 280 00:14:06,520 --> 00:14:09,080 Speaker 1: is at least up. Things are going good there. Chris 281 00:14:09,120 --> 00:14:13,400 Speaker 1: long Faces, Andrew Ross sorkin The New York Times, Financial 282 00:14:13,440 --> 00:14:17,800 Speaker 1: Times of London, Wall Street Journal across eyed all their predictions. 283 00:14:17,920 --> 00:14:21,400 Speaker 1: Guess what not wrong dead wrong as usual. Just stick 284 00:14:21,440 --> 00:14:22,800 Speaker 1: you in the ward room. We'll talk to you about 285 00:14:23,200 --> 00:14:26,560 Speaker 1: capital markets, the global economy, how it ties back here 286 00:14:26,600 --> 00:14:30,360 Speaker 1: the United States of America. We have a Birch Gold 287 00:14:30,480 --> 00:14:33,320 Speaker 1: dot com, the Rio Reset on July sixth and Rio 288 00:14:33,400 --> 00:14:35,720 Speaker 1: de Janeira. We're gonna have a full team there. The 289 00:14:35,760 --> 00:14:40,440 Speaker 1: bricks Nations come together to accelerate the de dollarization of 290 00:14:40,480 --> 00:14:43,800 Speaker 1: the world's economy. This is the Chinese Commiest Party's number 291 00:14:43,840 --> 00:14:47,040 Speaker 1: one tool, the Rio Reset, the seventh free installment in 292 00:14:47,120 --> 00:14:50,960 Speaker 1: the end of the Dollar Empire, now four years in 293 00:14:51,000 --> 00:14:53,120 Speaker 1: the making. Check it out birch Gold dot com, slash 294 00:14:53,200 --> 00:14:55,560 Speaker 1: Ben and talk to Philip Pacons team. Short commercial break 295 00:14:55,640 --> 00:14:57,240 Speaker 1: Nathan Simonton on the. 296 00:14:57,160 --> 00:15:03,000 Speaker 7: Other side of Excuse your host, Stephen k back. 297 00:15:06,920 --> 00:15:09,520 Speaker 1: Nathan Sommington's our guest blow out number on Wall Street 298 00:15:09,560 --> 00:15:12,280 Speaker 1: Today about the economic numbers coming out from President Trump. 299 00:15:12,320 --> 00:15:15,400 Speaker 1: President Trump's put his budget up just as a headline 300 00:15:16,240 --> 00:15:22,000 Speaker 1: for if fiscal year twenty six, it's going to go down. 301 00:15:22,040 --> 00:15:24,520 Speaker 1: They're cutting the budget one hundred and sixty billion dollars 302 00:15:24,600 --> 00:15:28,840 Speaker 1: out of UH. This is a discretionary, remember the discretionaries 303 00:15:28,960 --> 00:15:33,360 Speaker 1: essentially one five, one seven, one eight. President Trump's getting 304 00:15:33,360 --> 00:15:35,120 Speaker 1: down to I think one seven, one hundred and sixty 305 00:15:35,120 --> 00:15:38,200 Speaker 1: billion dollar cut, all coming from non defense. We'll get 306 00:15:38,240 --> 00:15:40,800 Speaker 1: into all of that. They haven't put out the revenue 307 00:15:40,840 --> 00:15:43,800 Speaker 1: number yet, but at least it's a start. It's a start. 308 00:15:44,000 --> 00:15:47,160 Speaker 1: You've seen a cut. Hey, we're gonna see you're gonna 309 00:15:47,200 --> 00:15:50,000 Speaker 1: unmask everybody about how real people are on this. Nathan, 310 00:15:50,080 --> 00:15:53,760 Speaker 1: why did President Donald John Trump select you to be 311 00:15:54,480 --> 00:15:58,960 Speaker 1: a commissioner and one of the most important regulatory apparatuses 312 00:15:59,000 --> 00:16:00,480 Speaker 1: we have the FCC Sir. 313 00:16:01,720 --> 00:16:03,720 Speaker 9: Well, you know, I know they looked at a lot 314 00:16:03,800 --> 00:16:06,400 Speaker 9: of people before me. There is a need to get 315 00:16:06,400 --> 00:16:10,160 Speaker 9: someone appointed in the fall of twenty twenty. And you know, 316 00:16:10,200 --> 00:16:13,280 Speaker 9: the press came out and said, we know everyone in telecom, 317 00:16:13,320 --> 00:16:16,120 Speaker 9: we don't know this guy. I don't think I would 318 00:16:16,160 --> 00:16:18,880 Speaker 9: have been on any insider short list of the top 319 00:16:18,920 --> 00:16:21,880 Speaker 9: thousand people. So it needs some explaining when the White 320 00:16:21,880 --> 00:16:24,640 Speaker 9: House called me in as part of the general search 321 00:16:24,680 --> 00:16:27,760 Speaker 9: for candidates. I didn't come from the telecom policy world. 322 00:16:27,760 --> 00:16:30,960 Speaker 9: I came from the finance side and futures market side 323 00:16:31,800 --> 00:16:35,000 Speaker 9: of telecom finance. And I came in with an economic thesis. 324 00:16:35,040 --> 00:16:37,600 Speaker 9: I was saying, you know, we need to understand that 325 00:16:38,800 --> 00:16:42,320 Speaker 9: there are effects on the celluophone industry and therefore second 326 00:16:42,400 --> 00:16:46,520 Speaker 9: order effects many places, including industrialization by the way, we 327 00:16:46,560 --> 00:16:48,560 Speaker 9: can get into that another time. But there are second 328 00:16:48,640 --> 00:16:50,880 Speaker 9: order effects from the way that these devices are financed 329 00:16:50,880 --> 00:16:52,520 Speaker 9: and sold to clients, and it winds up being a 330 00:16:52,520 --> 00:16:55,200 Speaker 9: subsidy to the manufacturers. And I think that was such 331 00:16:55,200 --> 00:16:58,440 Speaker 9: an unusual thing to say, and so far from typical 332 00:16:58,480 --> 00:17:00,320 Speaker 9: talking points that I got more and more in interest. 333 00:17:00,640 --> 00:17:02,760 Speaker 9: So I talked through that. I talked through some free 334 00:17:02,800 --> 00:17:05,760 Speaker 9: speech stuff. I knew very well the fellow who had 335 00:17:05,800 --> 00:17:09,200 Speaker 9: ridden the president's social media petition to the FCC because 336 00:17:09,240 --> 00:17:12,840 Speaker 9: he was my boss. And so, you know what, with 337 00:17:12,840 --> 00:17:15,000 Speaker 9: one thing and another. There were speech issues, there were 338 00:17:15,119 --> 00:17:18,119 Speaker 9: finance issues, There was a I guess, willingness to do 339 00:17:18,280 --> 00:17:21,440 Speaker 9: back office, get into details and address the tech side, 340 00:17:21,560 --> 00:17:23,800 Speaker 9: and then you know, I immediately wound up in minority. 341 00:17:23,840 --> 00:17:26,399 Speaker 9: So really I turned my little team at the FCC 342 00:17:26,480 --> 00:17:28,760 Speaker 9: into a research unit on a number of these tech 343 00:17:28,760 --> 00:17:34,119 Speaker 9: integration and future developmental pathway routes. So you know, I 344 00:17:34,160 --> 00:17:37,440 Speaker 9: had to roll with the punches when the President didn't 345 00:17:37,440 --> 00:17:40,360 Speaker 9: take office for a second term in twenty twenty one. 346 00:17:40,920 --> 00:17:43,720 Speaker 9: And the whole time, I've been thinking what would it 347 00:17:43,760 --> 00:17:46,040 Speaker 9: look like to tee up for success with a return 348 00:17:46,080 --> 00:17:47,640 Speaker 9: to power in twenty twenty five, And now I think 349 00:17:47,640 --> 00:17:50,159 Speaker 9: we're finally ready to address some of those big questions 350 00:17:50,200 --> 00:17:51,480 Speaker 9: that were left hanging last time. 351 00:17:52,520 --> 00:17:54,879 Speaker 1: So and walk us through that, the big questions and 352 00:17:54,920 --> 00:17:56,520 Speaker 1: how you guys are prepared for this and what you're 353 00:17:56,520 --> 00:17:58,360 Speaker 1: going to do, because this is absolutely, and I want 354 00:17:58,359 --> 00:18:00,600 Speaker 1: everybody if Grayce and MO can push out up the 355 00:18:00,680 --> 00:18:05,280 Speaker 1: Daily Caller priests on the reindust re industrialization written co 356 00:18:05,320 --> 00:18:09,320 Speaker 1: authored by the great Gavin Wax. What are those issues 357 00:18:09,359 --> 00:18:11,679 Speaker 1: and what do you see the issues before us today? 358 00:18:12,800 --> 00:18:15,080 Speaker 9: You know, I love Gavin made a lot of waves 359 00:18:15,119 --> 00:18:17,919 Speaker 9: when I hired him at the FCC. He has just 360 00:18:17,960 --> 00:18:20,000 Speaker 9: been a firecracker. We've been getting a lot done, so 361 00:18:20,359 --> 00:18:23,520 Speaker 9: you know, I share your perspective on him as far 362 00:18:23,600 --> 00:18:26,000 Speaker 9: as as far as the reindustrialization side, like I was 363 00:18:26,000 --> 00:18:29,560 Speaker 9: saying before, in the Chinese economy, we've seen a fusion 364 00:18:29,680 --> 00:18:34,560 Speaker 9: between greater uptake of robotics a greater uptake of industrial AI. 365 00:18:34,720 --> 00:18:37,040 Speaker 9: China has thousands of college programs in that that are 366 00:18:37,119 --> 00:18:41,920 Speaker 9: distinct track from computer science and then that specifically industrial 367 00:18:41,960 --> 00:18:46,040 Speaker 9: AI that's not chatbots, that's machine learning for factory applications 368 00:18:46,080 --> 00:18:49,800 Speaker 9: in boring by essential areas like quality control and electronic components. 369 00:18:49,840 --> 00:18:52,680 Speaker 9: And we've seen a merger of that increasingly with five 370 00:18:52,760 --> 00:18:55,000 Speaker 9: G networking now in the United States, of course, we 371 00:18:55,040 --> 00:18:58,679 Speaker 9: were promised amazing new phone features with five G, but 372 00:18:58,760 --> 00:19:01,440 Speaker 9: if you read the five G spec starting with three 373 00:19:01,480 --> 00:19:04,119 Speaker 9: GPP release seventeen in particular. I think that's where it 374 00:19:04,160 --> 00:19:05,080 Speaker 9: really snapped into place. 375 00:19:05,119 --> 00:19:05,359 Speaker 3: For me. 376 00:19:05,480 --> 00:19:08,200 Speaker 9: We're on release eighteen now, Release nineteen's coming up this year, 377 00:19:08,480 --> 00:19:11,480 Speaker 9: but if you read release seventeen, it really doesn't look 378 00:19:11,480 --> 00:19:13,560 Speaker 9: like a cell phone spec to me. It looks like 379 00:19:13,560 --> 00:19:17,000 Speaker 9: an advanced industrial networking spec that has roots in cell 380 00:19:17,040 --> 00:19:20,119 Speaker 9: phone technology, but at this point has evolved far beyond them. 381 00:19:20,440 --> 00:19:22,760 Speaker 9: And that's what we're seeing in terms of Chinese actual 382 00:19:22,800 --> 00:19:25,639 Speaker 9: deployment of five G not that much consumer, lots in 383 00:19:25,680 --> 00:19:29,000 Speaker 9: the industrial sector, lots of private networking that is just 384 00:19:29,320 --> 00:19:35,680 Speaker 9: for running particular factories, medical facilities, logistics facilities, etc. People 385 00:19:35,680 --> 00:19:37,480 Speaker 9: always assumed that China was going to be late to 386 00:19:37,520 --> 00:19:41,040 Speaker 9: automate because they had such a large pool of unskilled, 387 00:19:41,080 --> 00:19:44,080 Speaker 9: low wage labor. Typically you see automation in an advanced 388 00:19:44,119 --> 00:19:47,199 Speaker 9: economy when there's a wage replacement possibility. Sort of a 389 00:19:47,200 --> 00:19:49,919 Speaker 9: little bit like how McDonald's has all these kiosks. Now 390 00:19:50,000 --> 00:19:52,200 Speaker 9: you go in, you order from those and they don't 391 00:19:52,200 --> 00:19:54,600 Speaker 9: have to pay as many counter staff. But what we're 392 00:19:54,600 --> 00:19:56,760 Speaker 9: seeing in China is that China is front running this 393 00:19:56,840 --> 00:19:59,280 Speaker 9: and their rate of robotics adoption is something like seven 394 00:19:59,320 --> 00:20:02,520 Speaker 9: times the way predicted rate. What we're seeing is that 395 00:20:02,560 --> 00:20:05,080 Speaker 9: with Chinese production lines, it's no longer the sort of 396 00:20:05,240 --> 00:20:08,680 Speaker 9: circuit two thousand and seven image In many cases, certainly 397 00:20:08,680 --> 00:20:11,800 Speaker 9: in telecommunications my field, where you've got the people on 398 00:20:11,800 --> 00:20:14,600 Speaker 9: the assembly line working with the pots of glue and 399 00:20:14,680 --> 00:20:17,640 Speaker 9: little screwdrivers to put phones together. You know, we're way, way, 400 00:20:17,680 --> 00:20:21,320 Speaker 9: way beyond that. I personally ask myself, how can the 401 00:20:21,400 --> 00:20:23,960 Speaker 9: Chinese put out a really good electric car for ten 402 00:20:23,960 --> 00:20:26,639 Speaker 9: thousand dollars. It's not low wages. There are plenty of 403 00:20:26,640 --> 00:20:29,400 Speaker 9: low wage jurisdictions. I'm not seeing ten thousand dollars world 404 00:20:29,440 --> 00:20:32,240 Speaker 9: competitive electric cars from them. And China in fact, became 405 00:20:32,280 --> 00:20:34,600 Speaker 9: the world's largest autoash border a couple of years ago. 406 00:20:34,800 --> 00:20:36,320 Speaker 9: So this is old news at this point, and it 407 00:20:36,480 --> 00:20:40,919 Speaker 9: should be a wake up call for our own industry. 408 00:20:41,720 --> 00:20:44,480 Speaker 1: You know, the warm posse, which is really the tip 409 00:20:44,520 --> 00:20:47,680 Speaker 1: of the spear of the activist branch or the activist 410 00:20:47,760 --> 00:20:52,479 Speaker 1: wing a President Trump's movement, a not insignificant part of 411 00:20:52,480 --> 00:21:00,440 Speaker 1: that cadre, is quite concerned about five G. They look 412 00:21:00,440 --> 00:21:04,360 Speaker 1: at five G as maybe having potential health effects, potential 413 00:21:04,600 --> 00:21:08,400 Speaker 1: ability to just walk through, to have type of autocratic control. 414 00:21:08,960 --> 00:21:14,560 Speaker 1: Uh if left to nefarious devices or left in thefarious actors. Right, 415 00:21:14,760 --> 00:21:17,199 Speaker 1: what's your what's your overall is the FCC? Have you 416 00:21:17,200 --> 00:21:21,919 Speaker 1: guys fully thought through five G and OUs implications and 417 00:21:22,040 --> 00:21:24,639 Speaker 1: you think that you've done a good job or a 418 00:21:24,720 --> 00:21:27,879 Speaker 1: job enough to make sure the public fully understands what 419 00:21:27,920 --> 00:21:30,160 Speaker 1: the strategy is here and the communication side. 420 00:21:31,960 --> 00:21:35,800 Speaker 9: Yeah, so let's let's unpack this. So five g's is 421 00:21:35,920 --> 00:21:38,639 Speaker 9: at its root, just a protocol for networking in the 422 00:21:38,640 --> 00:21:40,600 Speaker 9: same way that four G was the you know, the 423 00:21:40,640 --> 00:21:44,240 Speaker 9: long term evolution protocol to bring broadband to mobile devices. 424 00:21:44,480 --> 00:21:48,840 Speaker 9: Five G is a step beyond that in terms of capacities. 425 00:21:49,080 --> 00:21:51,840 Speaker 9: So with five G you get a number of things 426 00:21:51,880 --> 00:21:54,800 Speaker 9: that are that are a clear evolution from l t E. 427 00:21:54,880 --> 00:21:57,120 Speaker 9: Which is why your five G phone seems to act 428 00:21:57,160 --> 00:21:59,320 Speaker 9: like a regular four G phone, maybe a little faster 429 00:21:59,440 --> 00:22:02,680 Speaker 9: most of the time, but in terms of additional capacities 430 00:22:02,720 --> 00:22:05,200 Speaker 9: that brings to the table. It can transmit at higher 431 00:22:05,200 --> 00:22:09,400 Speaker 9: frequencies which are less penetrant of your body or of 432 00:22:10,760 --> 00:22:13,840 Speaker 9: a building or something like that, have shorter ranges, but 433 00:22:13,960 --> 00:22:18,119 Speaker 9: can transmit higher data volumes. So you've got those higher frequencies, 434 00:22:19,080 --> 00:22:22,320 Speaker 9: then you also have ability to put many, many, many 435 00:22:22,560 --> 00:22:26,119 Speaker 9: more devices on a particular radio, as well as the 436 00:22:26,119 --> 00:22:29,120 Speaker 9: ability to push more and more network organizing intelligence out 437 00:22:29,119 --> 00:22:31,240 Speaker 9: to the edge. So could five G be used to 438 00:22:31,320 --> 00:22:34,679 Speaker 9: enable tyranny, Absolutely, because it's a better networking protocol than 439 00:22:34,720 --> 00:22:37,480 Speaker 9: four G. Is there anything inherent about it that is 440 00:22:37,520 --> 00:22:41,679 Speaker 9: anti democratic? Absolutely not. It's just you could do the 441 00:22:41,720 --> 00:22:43,439 Speaker 9: same kind of you know, if you were going to 442 00:22:43,480 --> 00:22:45,840 Speaker 9: use it for intofarious purposes. You could essentially do the 443 00:22:45,840 --> 00:22:48,439 Speaker 9: same thing with any cell phone technology, including four G. 444 00:22:48,760 --> 00:22:52,280 Speaker 9: You could do anything similar with any powerful wireless networking 445 00:22:52,280 --> 00:22:55,399 Speaker 9: technology such as Wi Fi, assuming you had adequate coverage. 446 00:22:55,520 --> 00:22:58,320 Speaker 9: So I don't think that people are wrong to be 447 00:22:58,400 --> 00:23:05,040 Speaker 9: concerned about potential social implications of just increasing networking capabilities 448 00:23:05,119 --> 00:23:09,200 Speaker 9: and putting more connectivity and more ability to transmit data everywhere. 449 00:23:09,240 --> 00:23:12,200 Speaker 9: But I think those are fundamentally social problems making sure 450 00:23:12,280 --> 00:23:15,760 Speaker 9: that our institutions aren't going to use those new capabilities 451 00:23:16,000 --> 00:23:18,040 Speaker 9: in some sort of negative way, the way that they 452 00:23:18,040 --> 00:23:22,200 Speaker 9: could use any communications capabilities, and it's not something specific 453 00:23:22,200 --> 00:23:22,639 Speaker 9: to five G. 454 00:23:24,119 --> 00:23:27,359 Speaker 1: You know this audience just the other day with Article 455 00:23:27,400 --> 00:23:30,640 Speaker 1: three project Mike Davis, the Viceroy and War and Posse 456 00:23:30,800 --> 00:23:33,880 Speaker 1: working together with Bill Blaster and other of our apps 457 00:23:33,880 --> 00:23:37,200 Speaker 1: that can get you INSIDT access to congressmen. We shut 458 00:23:37,240 --> 00:23:40,520 Speaker 1: down the judiciary committees. This one agency where they're trying 459 00:23:40,560 --> 00:23:42,400 Speaker 1: to roll in a really dual way with the FTC, 460 00:23:42,840 --> 00:23:46,120 Speaker 1: where the FTC seems to be going after the oligarchs 461 00:23:46,480 --> 00:23:50,760 Speaker 1: right with Facebook and others. Just this amazing antitrusting. Can 462 00:23:50,800 --> 00:23:53,480 Speaker 1: you walk people through how the FCC actually works? Get 463 00:23:53,480 --> 00:23:56,200 Speaker 1: our audience. So you've been selected by President Trump, you're 464 00:23:56,200 --> 00:23:58,479 Speaker 1: one of the commissioners, You've got a great new chairman. 465 00:23:58,880 --> 00:24:01,879 Speaker 1: Just take a minute or two and walk form the 466 00:24:01,880 --> 00:24:04,920 Speaker 1: audience how you guys actually work and what you guys 467 00:24:04,960 --> 00:24:05,520 Speaker 1: actually do. 468 00:24:07,320 --> 00:24:07,600 Speaker 3: Yeah. 469 00:24:07,600 --> 00:24:11,040 Speaker 9: Well, President Trump's selection of Chairman Carr four chairs, so 470 00:24:11,119 --> 00:24:13,919 Speaker 9: elevating him from the commissioner job he prior held was 471 00:24:14,400 --> 00:24:16,920 Speaker 9: one of his earliest decisions. I would say that Chairman 472 00:24:17,000 --> 00:24:19,960 Speaker 9: Carr was put up for that position during the transition, 473 00:24:20,400 --> 00:24:23,400 Speaker 9: faster than probably at least half the cabinet, and probably 474 00:24:23,400 --> 00:24:25,760 Speaker 9: the fastest in history. So this is an enormous vote 475 00:24:25,760 --> 00:24:27,960 Speaker 9: of confidence by President Trump, which has of course been 476 00:24:27,960 --> 00:24:32,440 Speaker 9: fully justified, and it's fantastic to work with him. As 477 00:24:32,440 --> 00:24:35,960 Speaker 9: far as how our structure goes, there are five commissioned seats. 478 00:24:36,119 --> 00:24:38,520 Speaker 9: You can only have up to three from a single party, 479 00:24:38,720 --> 00:24:42,280 Speaker 9: So traditionally it's been that the majority party gets three 480 00:24:42,800 --> 00:24:44,960 Speaker 9: and those are all sentate confirmed seats, so there's no 481 00:24:45,040 --> 00:24:47,280 Speaker 9: definite timeline for seating people. That's up to the Senate. 482 00:24:47,440 --> 00:24:49,840 Speaker 9: So the majority party gets three and the minority party 483 00:24:49,880 --> 00:24:53,240 Speaker 9: gets two, and typically commission votes are either going to 484 00:24:53,280 --> 00:24:56,000 Speaker 9: be on a five zero basis or on a three 485 00:24:56,040 --> 00:24:58,399 Speaker 9: to two basis, depending how part is in the issue is, 486 00:24:58,440 --> 00:25:00,159 Speaker 9: although there are no rules saying it has to be 487 00:25:00,280 --> 00:25:03,159 Speaker 9: that way. Now, what we do it's a very broad remit. 488 00:25:03,960 --> 00:25:10,680 Speaker 9: We cover transmission of signal by radio or by cable, 489 00:25:11,240 --> 00:25:14,400 Speaker 9: interstate or internationally, and when you think about the implications 490 00:25:14,400 --> 00:25:17,600 Speaker 9: of that, that's a huge amount of stuff that's broadcasting. 491 00:25:17,840 --> 00:25:20,840 Speaker 9: That's also the satellite industry because those are communications from 492 00:25:20,840 --> 00:25:25,360 Speaker 9: space to the United States. That's obviously the wireless mobility industry. 493 00:25:25,680 --> 00:25:28,200 Speaker 9: We have a lot of economic competition stuff in there. 494 00:25:28,320 --> 00:25:31,280 Speaker 9: There are some ways in which we look at cable pricing. 495 00:25:31,680 --> 00:25:35,000 Speaker 9: So you put it all together, it's a very broad 496 00:25:35,000 --> 00:25:37,040 Speaker 9: remit and we're not a very large agency. It's about 497 00:25:37,040 --> 00:25:40,800 Speaker 9: sixteen hundred people for all those responsibilities. Some offices and 498 00:25:40,840 --> 00:25:42,679 Speaker 9: bureaus are larger, some are smaller, but it's about one 499 00:25:42,720 --> 00:25:46,400 Speaker 9: hundred people per so I think we do a lot 500 00:25:46,400 --> 00:25:48,720 Speaker 9: with a little and then we fund ourselves off of 501 00:25:48,760 --> 00:25:52,760 Speaker 9: regulatory fees, so in other words, we don't require appropriations 502 00:25:52,840 --> 00:25:57,000 Speaker 9: from the public to keep going. The industry pays for 503 00:25:57,119 --> 00:25:59,000 Speaker 9: us to oversee them, so hopefully we're doing a good 504 00:25:59,080 --> 00:26:00,760 Speaker 9: job of that and they feel their ging their money's worth. 505 00:26:01,160 --> 00:26:04,360 Speaker 9: That share controls the agenda, so in terms of what 506 00:26:04,400 --> 00:26:08,760 Speaker 9: we actually vote upon at the Commission, the chair has 507 00:26:08,800 --> 00:26:11,240 Speaker 9: the job to develop items to be voted on for 508 00:26:11,320 --> 00:26:15,399 Speaker 9: regulatory change, with the politically appointed heads of the different 509 00:26:15,400 --> 00:26:19,320 Speaker 9: offices and bureaus, sometimes working you know, with multiple offices 510 00:26:19,320 --> 00:26:21,520 Speaker 9: and bureaus on a project to make sure that we 511 00:26:21,680 --> 00:26:23,760 Speaker 9: fully covered all of the aspects. We might have the 512 00:26:23,760 --> 00:26:27,720 Speaker 9: Office of Economic Analysis of Economics and Analysis, I should say, 513 00:26:27,920 --> 00:26:32,280 Speaker 9: looking at potential financial implications. We might have the Wireline 514 00:26:32,280 --> 00:26:36,119 Speaker 9: Competition Bureau looking at the effects on fiber and cable, 515 00:26:36,800 --> 00:26:39,879 Speaker 9: you know. So there's a lot of technical back office 516 00:26:39,880 --> 00:26:40,520 Speaker 9: stuff that we do. 517 00:26:42,040 --> 00:26:43,720 Speaker 1: Nathan, hang over one sid. I just want to bring 518 00:26:43,760 --> 00:26:45,680 Speaker 1: you back after short break and get you all your 519 00:26:45,680 --> 00:26:47,880 Speaker 1: social media so people and start to follow you in depth. 520 00:26:47,920 --> 00:26:52,800 Speaker 1: Short commercial break, Nathan Simonton joins us be back to 521 00:26:52,840 --> 00:26:53,879 Speaker 1: the warm in a moment. 522 00:27:01,160 --> 00:27:10,000 Speaker 7: Use your host Stephen kay. 523 00:27:08,040 --> 00:27:12,200 Speaker 1: Nathan before we go. Two issues. One is the deep 524 00:27:12,240 --> 00:27:15,560 Speaker 1: state or the intelligence apparatus on anything on five G. 525 00:27:16,240 --> 00:27:19,000 Speaker 1: And the other is about this whole thing but not 526 00:27:19,040 --> 00:27:22,080 Speaker 1: just CBS, but these broadcasters and licensing everything we're hearing 527 00:27:22,080 --> 00:27:26,720 Speaker 1: about from car about these people just you know, attacking, attacking, 528 00:27:26,760 --> 00:27:29,640 Speaker 1: attacking President Trump editing video is a new thing today 529 00:27:29,640 --> 00:27:33,000 Speaker 1: about the Kamala Harris sixty minutes and we understand sixty 530 00:27:33,040 --> 00:27:35,119 Speaker 1: minutes going to go back after President Trump again on 531 00:27:35,320 --> 00:27:38,199 Speaker 1: Sunday night. So any thoughts on this five G and 532 00:27:38,240 --> 00:27:39,800 Speaker 1: the intelligence community. 533 00:27:39,400 --> 00:27:44,120 Speaker 9: Sir, Yes, absolutely, So what we saw during the prior 534 00:27:44,200 --> 00:27:48,240 Speaker 9: administration was and at points before that, but let's focus 535 00:27:48,320 --> 00:27:51,160 Speaker 9: on the prior administration. So what we saw during during 536 00:27:51,200 --> 00:27:57,240 Speaker 9: them was a use of the apparatus to understand, map 537 00:27:57,280 --> 00:28:00,840 Speaker 9: out and influence social media and online communitations that had 538 00:28:00,840 --> 00:28:03,560 Speaker 9: been developed for other purposes, perhaps, but that were being 539 00:28:03,600 --> 00:28:07,080 Speaker 9: deployed increasingly domestically. So we had a lot of people 540 00:28:07,240 --> 00:28:10,240 Speaker 9: within the federal government who had direct plug ins to 541 00:28:10,320 --> 00:28:14,199 Speaker 9: social media companies or who had who had conventional regular 542 00:28:14,200 --> 00:28:18,359 Speaker 9: communications with them with strongly worded suggestions about the directions 543 00:28:18,359 --> 00:28:21,359 Speaker 9: in which those social media companies should take things. The 544 00:28:21,440 --> 00:28:24,000 Speaker 9: thing is, if you look at the Facebook IPO back 545 00:28:24,000 --> 00:28:26,920 Speaker 9: in twenty twelve, the killer app for Facebook more than 546 00:28:27,000 --> 00:28:29,479 Speaker 9: anything else was that it went with you in your pocket. 547 00:28:29,800 --> 00:28:33,320 Speaker 9: So it was the first form of advertising that really 548 00:28:33,359 --> 00:28:38,239 Speaker 9: had granular information about customer behavior and customer location. And 549 00:28:38,320 --> 00:28:41,920 Speaker 9: that's really what made the market salivate when Facebook went public. 550 00:28:42,720 --> 00:28:48,200 Speaker 9: Five G is obviously increasing connectivity possibilities, increasing bandwidth possibilities, 551 00:28:48,400 --> 00:28:51,040 Speaker 9: and so plugins in the federal government that are meant 552 00:28:51,160 --> 00:28:55,040 Speaker 9: to manipulate and direct social media in accordance with some 553 00:28:55,160 --> 00:28:57,880 Speaker 9: kind of a federal policy would thus find their hands 554 00:28:57,920 --> 00:29:00,520 Speaker 9: strengthened even more by five G. So I think it's 555 00:29:00,560 --> 00:29:05,280 Speaker 9: important to bring in social controls over the shaping of 556 00:29:05,280 --> 00:29:08,080 Speaker 9: public opinion. We're supposed to be a democracy. We're supposed 557 00:29:08,080 --> 00:29:10,120 Speaker 9: to tell the government what it's supposed to do. It's 558 00:29:10,160 --> 00:29:13,520 Speaker 9: not supposed to try and warp our minds in a 559 00:29:13,560 --> 00:29:17,640 Speaker 9: direction that's favorable to whatever policy they may think we 560 00:29:17,640 --> 00:29:19,239 Speaker 9: should be following, whether we like it or not. 561 00:29:21,120 --> 00:29:23,600 Speaker 1: What about this whole the battle, or at least car 562 00:29:23,640 --> 00:29:26,760 Speaker 1: it looks like it threw down immediately against the broadcasters. 563 00:29:26,760 --> 00:29:30,560 Speaker 1: So is that you're not actually threatening or talking about 564 00:29:30,600 --> 00:29:33,840 Speaker 1: taking their licenses away, which I don't understand how they 565 00:29:33,920 --> 00:29:35,960 Speaker 1: get the license and say they're going to do public 566 00:29:36,000 --> 00:29:39,040 Speaker 1: good and their news is so slanted. But this is 567 00:29:39,040 --> 00:29:42,320 Speaker 1: more targeted to the own and operate a station groups. 568 00:29:42,360 --> 00:29:43,040 Speaker 1: Is that what it is? 569 00:29:44,160 --> 00:29:47,120 Speaker 9: Yeah, that's right. So the FCC doesn't really have jurisdiction 570 00:29:47,240 --> 00:29:51,040 Speaker 9: to reach any players in the media ecosystem unless they 571 00:29:51,080 --> 00:29:55,080 Speaker 9: are in some way using wireless communications, and that's of 572 00:29:55,120 --> 00:29:58,120 Speaker 9: course what broadcasting is. So in other words, most people 573 00:29:58,160 --> 00:30:00,280 Speaker 9: just turn on their TV and they don't necessarily have 574 00:30:00,320 --> 00:30:03,120 Speaker 9: to think too hard about whether that whether weather you're 575 00:30:03,120 --> 00:30:07,120 Speaker 9: seeing is coming from there from a local broadcaster or 576 00:30:07,280 --> 00:30:09,880 Speaker 9: as part of a network affiliation agreement that their local 577 00:30:09,880 --> 00:30:12,960 Speaker 9: broadcaster is putting out but that originated with at the 578 00:30:13,000 --> 00:30:15,960 Speaker 9: network level, or if it's something else. People are subscribing 579 00:30:16,000 --> 00:30:19,240 Speaker 9: to individual specialty TV channels on a direct to consumer 580 00:30:19,280 --> 00:30:21,280 Speaker 9: basis through the smart TVs. So there are a lot 581 00:30:21,320 --> 00:30:23,800 Speaker 9: of different things out there in the media ecosystem, but 582 00:30:23,840 --> 00:30:26,800 Speaker 9: the SEC doesn't regulate most of them. The online content 583 00:30:26,840 --> 00:30:29,040 Speaker 9: we don't regulate, you know, people ask me what are 584 00:30:29,040 --> 00:30:31,120 Speaker 9: you doing about Disney Fubo And my answer is nothing, 585 00:30:31,160 --> 00:30:33,880 Speaker 9: because I don't have jurisdiction there. So there's it says 586 00:30:33,920 --> 00:30:36,520 Speaker 9: communications on the building, but really it should say broadcast 587 00:30:36,520 --> 00:30:39,040 Speaker 9: communications on the building. That would be more accurate. So 588 00:30:39,200 --> 00:30:43,760 Speaker 9: with Chairman Carr, his focus is on the specific question 589 00:30:44,240 --> 00:30:47,920 Speaker 9: of whether broadcast news distortion, which is actionable at the 590 00:30:47,920 --> 00:30:51,560 Speaker 9: broadcaster level, and potentially whether that took place. Both he 591 00:30:51,640 --> 00:30:53,760 Speaker 9: and I put out statements on that in December and 592 00:30:53,800 --> 00:30:56,760 Speaker 9: did some interviews on it. At the time. I saw 593 00:30:56,920 --> 00:30:59,320 Speaker 9: what I think is the first well pleated broadcast news 594 00:30:59,320 --> 00:31:01,920 Speaker 9: distortion complain I've ever seen in my career across my desk, 595 00:31:03,360 --> 00:31:05,640 Speaker 9: and so that seems like that's a predicate to look 596 00:31:05,640 --> 00:31:08,880 Speaker 9: into the question. But there's no way that the FCC 597 00:31:08,920 --> 00:31:11,920 Speaker 9: can regulate CBS as a whole. On the other hand, 598 00:31:12,000 --> 00:31:16,000 Speaker 9: if there were some sort of improper behavior at the 599 00:31:16,040 --> 00:31:19,120 Speaker 9: stations that were owned and operated by the CBS network, 600 00:31:19,400 --> 00:31:22,520 Speaker 9: then the fact that those are broadcasters does give us 601 00:31:22,600 --> 00:31:27,360 Speaker 9: jurisdiction to start raising questions the public about the integrity 602 00:31:27,360 --> 00:31:29,800 Speaker 9: of what was broadcast and whether that's an appropriate use 603 00:31:29,880 --> 00:31:32,480 Speaker 9: of the airwaves, which are after all, the common property 604 00:31:32,480 --> 00:31:33,360 Speaker 9: of the American people. 605 00:31:34,720 --> 00:31:37,040 Speaker 1: Great, Nathan, I will tell you the audience loved it, 606 00:31:37,120 --> 00:31:39,840 Speaker 1: but there's still the juries out in the warm posse 607 00:31:40,040 --> 00:31:41,920 Speaker 1: on the health effects of five G. We'd probably get 608 00:31:41,960 --> 00:31:44,640 Speaker 1: to get Bobby over here for that, Nathan Simonson, where 609 00:31:44,640 --> 00:31:47,800 Speaker 1: do people go on social media to find all your 610 00:31:47,800 --> 00:31:50,960 Speaker 1: writings and to follow you as you continue to battle 611 00:31:51,720 --> 00:31:56,560 Speaker 1: for President Trump and the nation at the Federal Communications Commission. 612 00:31:56,120 --> 00:31:59,320 Speaker 9: Sir, Well, sir, you can, first of all go to 613 00:31:59,400 --> 00:32:04,520 Speaker 9: FCC gov and on my page there there's access to 614 00:32:04,800 --> 00:32:07,560 Speaker 9: all of my written statements on which are pretty technical 615 00:32:07,560 --> 00:32:10,200 Speaker 9: and didn't turn into press releases. There is also an 616 00:32:10,200 --> 00:32:14,160 Speaker 9: op ed tab under me on the FCC's web page. 617 00:32:14,320 --> 00:32:19,040 Speaker 9: In addition, I'm at Simington FCC, so you got it 618 00:32:19,120 --> 00:32:21,880 Speaker 9: right there. That's my ex account, my official X account. 619 00:32:22,360 --> 00:32:26,040 Speaker 9: It's the same handle on Instagram and on true social 620 00:32:26,360 --> 00:32:29,440 Speaker 9: So if anyone's interested in finding out more what I 621 00:32:29,520 --> 00:32:31,240 Speaker 9: think about stuff, then that's an easy counduit. 622 00:32:32,960 --> 00:32:35,280 Speaker 1: Thank you, brother, appreciate your great job. 623 00:32:36,600 --> 00:32:37,160 Speaker 9: Thank you, sir. 624 00:32:37,200 --> 00:32:41,120 Speaker 1: Always you guys want the receipts. This is the warriors 625 00:32:41,120 --> 00:32:44,040 Speaker 1: at the front line that are making massive changes. It's 626 00:32:44,080 --> 00:32:47,880 Speaker 1: just incredible. Lara Lumer and Lara's out and about today. 627 00:32:47,920 --> 00:32:50,400 Speaker 1: We're trying to anybod Lara Lumer made the front page. 628 00:32:50,480 --> 00:32:54,040 Speaker 1: Gotta love this. Lara Lumer makes the front page of 629 00:32:54,080 --> 00:32:58,760 Speaker 1: the beloved Financial Times of London. Trump ditches Waltz after 630 00:32:58,920 --> 00:33:03,240 Speaker 1: MAGA wrath builds against National Security Advisor, and the whole 631 00:33:03,280 --> 00:33:05,560 Speaker 1: story is about Laura Lumber and the exposa she did 632 00:33:05,560 --> 00:33:08,040 Speaker 1: on the people at the National Security Council and Alex 633 00:33:08,160 --> 00:33:09,840 Speaker 1: Wang and all of them. We're going to try to 634 00:33:09,880 --> 00:33:13,440 Speaker 1: get Laura. Do we have time? I got so another. 635 00:33:13,600 --> 00:33:19,080 Speaker 1: We're talking about people driving President Trump's agenda, not simply 636 00:33:19,080 --> 00:33:21,320 Speaker 1: for the MAGA movement, not simply for President Trump, but 637 00:33:21,440 --> 00:33:24,440 Speaker 1: also for the folks here in the United States of America, 638 00:33:24,520 --> 00:33:28,320 Speaker 1: all her citizens. One of the great warriors we have. 639 00:33:28,520 --> 00:33:32,239 Speaker 1: We talked about a little bit yesterday. Ed Martin just 640 00:33:32,320 --> 00:33:37,040 Speaker 1: an incredible guy. Phillis Schlaffley's right hand. Phyllis Schlaffley was 641 00:33:37,360 --> 00:33:43,440 Speaker 1: her endorsement in President Trump was an inflection point in 642 00:33:43,560 --> 00:33:47,400 Speaker 1: the twenty fifteen primary. In the twenty sixteen campaign, She's 643 00:33:47,440 --> 00:33:50,080 Speaker 1: one of the great icons of the conservative movement in 644 00:33:50,160 --> 00:33:54,400 Speaker 1: an absolutely total warrior, and so is Ed Martin, who's 645 00:33:54,440 --> 00:33:57,400 Speaker 1: her roomate. Ed Martin is now a waiting confirmation as 646 00:33:57,440 --> 00:34:00,320 Speaker 1: the US Attorney for the District Columbia. And you under stand, 647 00:34:00,440 --> 00:34:04,000 Speaker 1: besides the top people at Main Justice, this is along 648 00:34:04,040 --> 00:34:06,600 Speaker 1: with the Southern District of New York, the two most 649 00:34:06,640 --> 00:34:09,279 Speaker 1: important US attorneys in the nation. We have a and 650 00:34:09,320 --> 00:34:12,839 Speaker 1: there's a full scale war against Ed Martin right now. 651 00:34:12,880 --> 00:34:17,160 Speaker 1: And why is that? Because Ed Martin is how do 652 00:34:17,200 --> 00:34:20,160 Speaker 1: we say, setting things right, Let's go and play this 653 00:34:20,440 --> 00:34:22,719 Speaker 1: package and I'll come right back. I heard the name 654 00:34:22,960 --> 00:34:23,560 Speaker 1: Ed Martin. 655 00:34:24,160 --> 00:34:25,879 Speaker 8: I know there's a lot of people to keep track 656 00:34:25,920 --> 00:34:28,880 Speaker 8: of in Donald Trump's new administration, but this guy is, 657 00:34:29,320 --> 00:34:31,759 Speaker 8: I would say, a standout, and I don't mean that 658 00:34:31,800 --> 00:34:34,320 Speaker 8: in a good way. He is the guy that Trump 659 00:34:34,360 --> 00:34:38,560 Speaker 8: appointed to be the US Attorney for Washington, DC. So 660 00:34:38,920 --> 00:34:42,520 Speaker 8: he's not yet sid confirmed. He's an acting right now. 661 00:34:43,160 --> 00:34:46,880 Speaker 8: He is to my mind, completely unqualified and truly a 662 00:34:46,880 --> 00:34:49,960 Speaker 8: bit unhinged. One of the things he is doing a 663 00:34:49,960 --> 00:34:52,279 Speaker 8: lot of since he got into powerful office basically day 664 00:34:52,320 --> 00:34:54,800 Speaker 8: one as the acting US attorney not confirmed yet and 665 00:34:54,800 --> 00:34:58,160 Speaker 8: he's trying to be confirmed, is this habit of firing 666 00:34:58,200 --> 00:35:01,800 Speaker 8: off these menacing letters all over the place, for instance, 667 00:35:01,840 --> 00:35:06,080 Speaker 8: to medical journals from the New England Journal of Medicine 668 00:35:06,280 --> 00:35:10,600 Speaker 8: to the Journal of Strettstrix and Gynecology to Chess. That's 669 00:35:10,640 --> 00:35:13,760 Speaker 8: a scientific journal for chess doctors. If I'm being honest, 670 00:35:13,760 --> 00:35:16,200 Speaker 8: it's the first time I've ever heard of it. In 671 00:35:16,239 --> 00:35:18,640 Speaker 8: these letters, Martin accused of the journals. This is the 672 00:35:18,800 --> 00:35:22,160 Speaker 8: US attorney, acting US attorney, accusing the journals of bias 673 00:35:22,239 --> 00:35:25,480 Speaker 8: and demands that they report back to him. 674 00:35:25,680 --> 00:35:27,759 Speaker 4: This is the kind of thing that Martin does. It's 675 00:35:27,800 --> 00:35:28,439 Speaker 4: sort of his thing. 676 00:35:29,200 --> 00:35:31,279 Speaker 8: You might recall that he sent a letter, apparently only 677 00:35:31,320 --> 00:35:34,200 Speaker 8: on social media, threatened to chase federal employees to the 678 00:35:34,360 --> 00:35:36,760 Speaker 8: end of the earth to hold them accountable for anyone 679 00:35:36,800 --> 00:35:40,800 Speaker 8: pushing back on Elon Musk's government efficiency. Folks were flooding 680 00:35:40,800 --> 00:35:45,480 Speaker 8: into agencies with barely any notice. This is someone, it 681 00:35:45,520 --> 00:35:48,440 Speaker 8: would seem to me, based on these letters, who is 682 00:35:48,520 --> 00:35:51,879 Speaker 8: under the impression that he lives in an authoritarian state, 683 00:35:52,040 --> 00:35:54,800 Speaker 8: not a free country, where people with the policing power 684 00:35:54,840 --> 00:35:57,600 Speaker 8: that he's been invested with get to just impose their 685 00:35:57,640 --> 00:36:02,080 Speaker 8: will at any institution whatsoever. From the CHEST Journal to 686 00:36:02,239 --> 00:36:07,280 Speaker 8: Georgetown Law School to Wikipedia. Now, the Senate Judiciary Committee 687 00:36:07,280 --> 00:36:10,320 Speaker 8: has yet to vote to start Martin's confirmation hearing, but 688 00:36:10,480 --> 00:36:13,080 Speaker 8: Republican chair Chuck Grassley said today it is not on 689 00:36:13,120 --> 00:36:16,760 Speaker 8: the agenda because Republicans still have questions, as they should, 690 00:36:18,120 --> 00:36:21,000 Speaker 8: and there is really just a really long list of 691 00:36:21,080 --> 00:36:24,640 Speaker 8: reasons not to nominate this guy. Is other people who 692 00:36:24,680 --> 00:36:26,920 Speaker 8: are nominated for the position don't already hold it, and 693 00:36:26,960 --> 00:36:29,279 Speaker 8: so at some level it's a little speculative what will 694 00:36:29,280 --> 00:36:31,480 Speaker 8: they do in the job. In this case, he was 695 00:36:31,560 --> 00:36:35,960 Speaker 8: named the acting on day one, and I have to say, 696 00:36:35,960 --> 00:36:38,640 Speaker 8: these letters he's been sending. Here's a you know, three 697 00:36:38,640 --> 00:36:42,239 Speaker 8: different medical journals, the Journal of Chess Medicine. I want 698 00:36:42,280 --> 00:36:44,759 Speaker 8: you to respond to the US attorney about whether you 699 00:36:44,840 --> 00:36:48,200 Speaker 8: have bias. Get back to me on that Georgetown Law school. 700 00:36:48,360 --> 00:36:50,319 Speaker 8: You have to tell me how you're strucking your kids. 701 00:36:50,320 --> 00:36:52,920 Speaker 8: This is Wikipedia. He sent a letter to the nonprofit 702 00:36:52,920 --> 00:36:55,880 Speaker 8: that runs Wikipedia, accusing the tax extempt organization of allowing 703 00:36:55,920 --> 00:36:59,799 Speaker 8: foreign actors to manipulate information and spread propaganda the American public. 704 00:37:00,640 --> 00:37:01,480 Speaker 3: I have to say, these. 705 00:37:01,400 --> 00:37:04,520 Speaker 8: Letters strike me as as flatly authoritarian as anything we've 706 00:37:04,560 --> 00:37:07,760 Speaker 8: seen the trum administration. And one does have to wonder 707 00:37:07,800 --> 00:37:10,239 Speaker 8: if he were actually confirmed, what he would be doing 708 00:37:10,280 --> 00:37:11,720 Speaker 8: with the prosecutorial power. 709 00:37:14,040 --> 00:37:16,520 Speaker 10: I mean, he calls the hundreds of lawyers who work 710 00:37:16,880 --> 00:37:19,719 Speaker 10: at the US Attorney's Office, which is a pretty venerated 711 00:37:20,480 --> 00:37:25,800 Speaker 10: office of prosecutors, the president's lawyers. And he has openly 712 00:37:25,840 --> 00:37:27,920 Speaker 10: said that his job is to go out there and 713 00:37:28,360 --> 00:37:31,120 Speaker 10: attack the critics of the president. I have colleagues in 714 00:37:31,160 --> 00:37:37,040 Speaker 10: Congress who receives threatening letters from mister Martin. In his 715 00:37:37,080 --> 00:37:38,880 Speaker 10: first days in office, one of the first things he 716 00:37:38,920 --> 00:37:43,360 Speaker 10: did was to dismiss cases against his own defendants, that is, 717 00:37:43,560 --> 00:37:46,960 Speaker 10: rather his own clients, people who were criminal defendants in 718 00:37:47,040 --> 00:37:50,200 Speaker 10: the January sixth case. He was there on January sixth, 719 00:37:50,520 --> 00:37:54,160 Speaker 10: and he experienced the events of the day, as Marty 720 00:37:54,280 --> 00:37:57,759 Speaker 10: Gras he said in a tweet that he sent out, 721 00:37:57,800 --> 00:38:01,600 Speaker 10: as he observed the mass vices against our police officers, 722 00:38:01,840 --> 00:38:05,440 Speaker 10: the attempt to storm the capitol, the storming of the Capitol, 723 00:38:05,480 --> 00:38:08,000 Speaker 10: and then the attempt to overthow the election. As Marty 724 00:38:08,080 --> 00:38:10,399 Speaker 10: grat it was a big day of celebration for him. 725 00:38:10,560 --> 00:38:14,360 Speaker 10: And he has partaken of every form of January sixth 726 00:38:14,560 --> 00:38:19,120 Speaker 10: denialism and conspiracy theory out there, like the FBI director 727 00:38:19,160 --> 00:38:19,600 Speaker 10: as well. 728 00:38:19,560 --> 00:38:20,759 Speaker 3: Capitojec. 729 00:38:21,840 --> 00:38:26,000 Speaker 1: Okay. So he has the endorsement of Chris Hayes and 730 00:38:26,080 --> 00:38:28,560 Speaker 1: Jamie Raskin. And what I mean by that is that 731 00:38:28,560 --> 00:38:31,480 Speaker 1: they hate him. So what does that tell you? He's 732 00:38:31,520 --> 00:38:36,080 Speaker 1: got to be great? Whatever they hate is good, and 733 00:38:36,120 --> 00:38:39,799 Speaker 1: they hate him, and it's a NonStop barrage. And this 734 00:38:39,840 --> 00:38:42,839 Speaker 1: has nothing to do with Democrats right now. This is 735 00:38:44,080 --> 00:38:48,360 Speaker 1: the acid test on are we going to get serious 736 00:38:49,200 --> 00:38:54,520 Speaker 1: about going after this apparatus, taking apart brick by brick 737 00:38:55,080 --> 00:38:58,759 Speaker 1: and getting to the bottom, getting to the bottom of 738 00:38:58,760 --> 00:39:05,480 Speaker 1: what's going on. Because Ed Martin ain't looking to co 739 00:39:05,560 --> 00:39:10,400 Speaker 1: host Fox News shows. This guy's a grinder and a 740 00:39:10,440 --> 00:39:14,160 Speaker 1: warrior and will not back down at all. This all 741 00:39:14,200 --> 00:39:19,360 Speaker 1: goes back to Grassley and to the Senate Judiciary Committee. 742 00:39:19,640 --> 00:39:22,759 Speaker 1: Number one, when you have these confirmations of US attorneys, 743 00:39:22,840 --> 00:39:26,000 Speaker 1: We've never had confirmation hearings. I think you have ninety 744 00:39:26,000 --> 00:39:29,520 Speaker 1: three ninety two to ninety three US attorneys right, and 745 00:39:29,520 --> 00:39:31,600 Speaker 1: then you have hundreds of attorneys underneath it. But if 746 00:39:31,600 --> 00:39:34,759 Speaker 1: you had to confirm in a hearing the US attorneys, 747 00:39:35,440 --> 00:39:38,719 Speaker 1: you'd never get anybody appointed. It would take forever. They 748 00:39:38,800 --> 00:39:41,680 Speaker 1: do it all in kind of paperwork. This is all 749 00:39:41,719 --> 00:39:44,680 Speaker 1: about the Senate Judiciary Committee and this gets back to 750 00:39:44,760 --> 00:39:49,520 Speaker 1: the controlled opposition of the Republican Party. There are many 751 00:39:49,560 --> 00:39:54,520 Speaker 1: many people that are just not moving with urgency and alacrity, 752 00:39:55,680 --> 00:39:58,480 Speaker 1: and hey, we got to get this done. Let's grind. 753 00:39:58,560 --> 00:40:00,759 Speaker 1: Let's grind seven days of wa week. Let's hit it, 754 00:40:00,880 --> 00:40:05,640 Speaker 1: Let's hit it, Let's hit it. Action action, action. You 755 00:40:05,680 --> 00:40:07,560 Speaker 1: have a lot of these people around here just lazy, 756 00:40:07,680 --> 00:40:09,359 Speaker 1: or they don't want to do it, or they're too 757 00:40:09,520 --> 00:40:12,600 Speaker 1: you know, they're concerned about Jamie Raskins saying something bad 758 00:40:12,600 --> 00:40:18,040 Speaker 1: about them. They're concern and worried about Chris hayes having 759 00:40:18,040 --> 00:40:21,879 Speaker 1: a segment and Chris Hayes's producers cutting together you know, 760 00:40:23,160 --> 00:40:25,960 Speaker 1: footage and having your letters up there where they're attacking you, 761 00:40:26,040 --> 00:40:29,120 Speaker 1: attacking you and attacking you. They don't like that because 762 00:40:29,160 --> 00:40:33,160 Speaker 1: they're not courageous. This game is not for the faint 763 00:40:33,160 --> 00:40:37,600 Speaker 1: of heart. Did they not put and it was it 764 00:40:37,680 --> 00:40:39,919 Speaker 1: not Matthew Graves in that crowd over as the dc 765 00:40:40,160 --> 00:40:43,320 Speaker 1: US attorney put all the January sixth people in prison? 766 00:40:43,400 --> 00:40:48,120 Speaker 1: Did they not? Did they not try to put President Trump? 767 00:40:48,239 --> 00:40:52,480 Speaker 1: Working with Jack Smith put President Trump in prison for 768 00:40:52,520 --> 00:40:57,080 Speaker 1: I don't know, three hundred years. Short commercial break, let's stick. 769 00:41:01,320 --> 00:41:03,399 Speaker 7: Use your host Stephen came back. 770 00:41:06,040 --> 00:41:08,760 Speaker 1: There are things that main justice that are happening. Okay, 771 00:41:10,120 --> 00:41:13,200 Speaker 1: there are other things happening around town. You get the 772 00:41:13,200 --> 00:41:17,319 Speaker 1: great tom fitting when you look at the convergence of 773 00:41:17,400 --> 00:41:20,600 Speaker 1: the crises we are coming to. The budget today was 774 00:41:20,680 --> 00:41:25,040 Speaker 1: kind of initial, and it's it's directionally. We're getting there. 775 00:41:25,080 --> 00:41:28,000 Speaker 1: It's not great, but it's a start, at least from 776 00:41:28,000 --> 00:41:30,480 Speaker 1: what I've seen in the you know, the little bit 777 00:41:30,520 --> 00:41:32,160 Speaker 1: I've seen. We're going to get it all to that. 778 00:41:32,200 --> 00:41:35,799 Speaker 1: It's clearly not cut enough. But this is part of this, 779 00:41:36,200 --> 00:41:40,359 Speaker 1: the crises we're coming to now, folks, So plan out 780 00:41:40,400 --> 00:41:42,040 Speaker 1: for the next hundred days. Let's go to the end 781 00:41:42,040 --> 00:41:46,239 Speaker 1: of July. Let's go to July twenty ninth basically or thirtieth. 782 00:41:46,880 --> 00:41:49,840 Speaker 1: So the next ninety hundred days, I guess be the 783 00:41:49,880 --> 00:41:51,480 Speaker 1: first week. Let me do some rate math, it'll be 784 00:41:51,480 --> 00:41:55,319 Speaker 1: the first week of August when they part, when they 785 00:41:55,640 --> 00:41:58,640 Speaker 1: all get ready to leave here. You're going to have 786 00:41:58,680 --> 00:42:01,520 Speaker 1: this constitutional crisis is driven by what the judge said, 787 00:42:01,600 --> 00:42:04,480 Speaker 1: your day of stepping in between President Trump being commander 788 00:42:04,480 --> 00:42:08,200 Speaker 1: in chief number one, the deportations, and they're winning because 789 00:42:08,200 --> 00:42:11,600 Speaker 1: they're jamming us up on the criminal element hoping to 790 00:42:11,640 --> 00:42:16,240 Speaker 1: break our will. Because this is all about will, political will. 791 00:42:16,440 --> 00:42:19,040 Speaker 1: They hope to break our will on the ten million 792 00:42:19,080 --> 00:42:22,480 Speaker 1: that have to leave, and you have to do it humanly, 793 00:42:23,440 --> 00:42:28,160 Speaker 1: of course, but they got to go. That's number one. 794 00:42:28,239 --> 00:42:31,200 Speaker 1: Number two is the one tonight today New York Posts 795 00:42:31,200 --> 00:42:35,480 Speaker 1: has got it. I think, you know, Secretary of State Rubing, 796 00:42:35,480 --> 00:42:37,520 Speaker 1: the guy say, hey, look, we signed the Mintals deal, 797 00:42:37,520 --> 00:42:39,440 Speaker 1: but it looks like we're not making progress. We're kind 798 00:42:39,440 --> 00:42:41,440 Speaker 1: of going to take a time out or at least 799 00:42:41,480 --> 00:42:44,680 Speaker 1: some worthy the effect that the Ukraine thing. You guys 800 00:42:44,719 --> 00:42:47,280 Speaker 1: slug it out, but we're not putting up any more money. 801 00:42:48,239 --> 00:42:50,560 Speaker 1: So this is the kinetic part of the Third World War. 802 00:42:50,560 --> 00:42:52,799 Speaker 1: And you saw President Trump came out yesterday on the 803 00:42:52,840 --> 00:42:56,240 Speaker 1: Persians and said, hey, how about this one percent stopping 804 00:42:56,280 --> 00:42:59,440 Speaker 1: the oil? All the oil. I would just say in 805 00:42:59,480 --> 00:43:01,480 Speaker 1: the two and a half billion, a million barrels a 806 00:43:01,520 --> 00:43:03,960 Speaker 1: day going to the Chinese companis party but blockaded all, 807 00:43:04,840 --> 00:43:08,440 Speaker 1: stop it all. So you got that part. Then you 808 00:43:08,520 --> 00:43:10,560 Speaker 1: had the finance and the economics and how youre going 809 00:43:10,600 --> 00:43:13,600 Speaker 1: to find So all those are converging over the next 810 00:43:13,760 --> 00:43:18,480 Speaker 1: hundred days, which is phase two of this right two 811 00:43:21,040 --> 00:43:28,440 Speaker 1: one of the most contentious, complicated inflection points in the 812 00:43:28,480 --> 00:43:32,319 Speaker 1: history of the Republic. That's the stakes that are on 813 00:43:32,360 --> 00:43:35,799 Speaker 1: the table. That's the stakes Trump's plan for. He's not 814 00:43:35,840 --> 00:43:39,080 Speaker 1: doing small things. He's doing the biggest things you could 815 00:43:39,120 --> 00:43:42,760 Speaker 1: do at the highest level with a sense of urgency. Trump. 816 00:43:44,520 --> 00:43:47,239 Speaker 1: We did that town hall the other day on News Nation. 817 00:43:47,400 --> 00:43:49,440 Speaker 1: He's calling in at it from his desk at the 818 00:43:49,480 --> 00:43:52,040 Speaker 1: Resume in the Oval office at eight o'clock a night, 819 00:43:52,239 --> 00:43:54,560 Speaker 1: and they're talking about it was just after the speech 820 00:43:54,600 --> 00:43:57,600 Speaker 1: we did live for the tech CEOs. He's saying, Hey, 821 00:43:57,600 --> 00:43:59,560 Speaker 1: I got a bunch of these guys backed up Eli. 822 00:44:00,040 --> 00:44:01,879 Speaker 1: I'm gonna meet with these guys right afterwards. He's gonna 823 00:44:01,920 --> 00:44:03,759 Speaker 1: sit down with these guys again. He's gonna work at 824 00:44:03,760 --> 00:44:08,440 Speaker 1: ten or eleven o'clock at night every night and then 825 00:44:08,480 --> 00:44:10,760 Speaker 1: be up at five in the morning. It's dropping truth 826 00:44:10,840 --> 00:44:16,640 Speaker 1: bombs on true social That's one of his superpowers. It's this, 827 00:44:17,080 --> 00:44:20,360 Speaker 1: you know, energy at a level that you've never seen before. 828 00:44:21,400 --> 00:44:23,719 Speaker 1: I consider myself a very hard worker. You guys, I 829 00:44:23,840 --> 00:44:25,839 Speaker 1: do this seven days a week. I can't keep up 830 00:44:25,880 --> 00:44:30,319 Speaker 1: with him. In fact, on this show, our specialty is 831 00:44:30,360 --> 00:44:33,120 Speaker 1: to cover this in depth. Knowing that We've worked on 832 00:44:33,160 --> 00:44:36,759 Speaker 1: her for four years, et cetera. It's so complicated just 833 00:44:36,800 --> 00:44:39,279 Speaker 1: to keep up with it because it's so much and 834 00:44:39,320 --> 00:44:42,279 Speaker 1: he's boom in the opposition. He broke Ratechel matt out. 835 00:44:42,320 --> 00:44:44,160 Speaker 1: She had a nervous breakdown. She's going back to the 836 00:44:44,760 --> 00:44:47,760 Speaker 1: She's going back to the barn in Connecticut. She's done, 837 00:44:48,160 --> 00:44:52,600 Speaker 1: done and dusted. Which gets me back to the other 838 00:44:52,680 --> 00:44:57,160 Speaker 1: element is the deconstruction the administrative state, in the destruction 839 00:44:57,360 --> 00:45:01,120 Speaker 1: of the deep state, and this is not getting the 840 00:45:01,160 --> 00:45:06,640 Speaker 1: priority it needs to get. That's where Ed Martin's a 841 00:45:06,640 --> 00:45:11,960 Speaker 1: battering ram. He's a battering ram. When President Trump picked 842 00:45:12,000 --> 00:45:14,120 Speaker 1: him in the early days, that go, oh my god, 843 00:45:14,840 --> 00:45:19,120 Speaker 1: what a brilliant pick for that billet and replace Graves, 844 00:45:19,120 --> 00:45:21,920 Speaker 1: who was so often you remember everything that came out 845 00:45:21,960 --> 00:45:24,080 Speaker 1: of Graves, everything that came out of the US Attorney. 846 00:45:24,840 --> 00:45:30,080 Speaker 1: When you have because with Rachel maddele student, with Rachel 847 00:45:30,080 --> 00:45:35,440 Speaker 1: Matto gone, Hayes is kind of her product. They've got 848 00:45:35,480 --> 00:45:38,080 Speaker 1: other people to call, but Hayes is her acolytes. She 849 00:45:38,160 --> 00:45:42,040 Speaker 1: created crusades, so he'll be the light version. He'll never 850 00:45:42,080 --> 00:45:46,759 Speaker 1: be Rachel Mattow. But he lays it out he cannot 851 00:45:47,360 --> 00:45:51,640 Speaker 1: get on this story more of Ed Martin. Now here's 852 00:45:51,800 --> 00:45:55,120 Speaker 1: the heart of the story. This is a Republican issue. 853 00:45:55,719 --> 00:45:59,240 Speaker 1: We control the Judiciary Committee and we control the Senate, 854 00:46:00,560 --> 00:46:03,520 Speaker 1: so this has nothing to do with Democrats. This has 855 00:46:03,560 --> 00:46:06,239 Speaker 1: to do and yesterday you heard Tom Tillis, and my 856 00:46:06,360 --> 00:46:12,479 Speaker 1: understanding is after you guys carpet bombed Tillis's office, upon 857 00:46:12,560 --> 00:46:17,480 Speaker 1: further review, he's open. But you've got others on the 858 00:46:17,600 --> 00:46:23,319 Speaker 1: Judiciary Committee and including the beloved Senator Grassley. So we're 859 00:46:23,360 --> 00:46:26,160 Speaker 1: going to get organized today and then tomorrow, but on 860 00:46:26,239 --> 00:46:29,000 Speaker 1: Monday we're going up. This is getting ready to go 861 00:46:29,040 --> 00:46:33,000 Speaker 1: fix banets on Ed Martin. We've already done quasi, but 862 00:46:33,000 --> 00:46:36,120 Speaker 1: they ain't seen nothing. But we're prepared to do because 863 00:46:36,480 --> 00:46:39,439 Speaker 1: this is totally within control of yourself. And this gets 864 00:46:39,480 --> 00:46:44,640 Speaker 1: to the heart of what the problem has been, and 865 00:46:44,760 --> 00:46:50,520 Speaker 1: that is that the Republican Party is controlled opposition, controlled opposition. 866 00:46:51,440 --> 00:46:53,880 Speaker 1: The number of fighters you got up there is a handful. 867 00:46:54,600 --> 00:46:56,520 Speaker 1: Don't let them come back and talk to you about 868 00:46:56,560 --> 00:47:00,920 Speaker 1: everything they're doing. The number of fighters you have in 869 00:47:00,960 --> 00:47:02,839 Speaker 1: the House, in the Senate, in this house a little 870 00:47:02,880 --> 00:47:06,640 Speaker 1: bit more. Maybe I'm a twenty five, thirty thirty five 871 00:47:07,040 --> 00:47:10,400 Speaker 1: in the Senate a handful, just a tiny handful, and 872 00:47:10,440 --> 00:47:12,640 Speaker 1: they can sit there and they can talk all the 873 00:47:12,719 --> 00:47:14,799 Speaker 1: MAGA talk they want to talk. They can talk all 874 00:47:14,800 --> 00:47:18,840 Speaker 1: the populism, they talk, all the economic nationalism. When this 875 00:47:19,000 --> 00:47:21,600 Speaker 1: beyond talk, this is action. Where are you are you 876 00:47:21,960 --> 00:47:27,880 Speaker 1: standing in the breach? Because Ed Martin is a blunt 877 00:47:27,920 --> 00:47:30,360 Speaker 1: force instrument. He's kind of a mini blunt force. If 878 00:47:30,400 --> 00:47:33,960 Speaker 1: Trump's the big blunt force instrument, this guy's a couple 879 00:47:33,920 --> 00:47:36,920 Speaker 1: of levels down. But trust me, it's blunt and it's 880 00:47:36,960 --> 00:47:40,799 Speaker 1: a force. You got. Raskin and Hayes are as two 881 00:47:40,840 --> 00:47:44,560 Speaker 1: smarter guys on the other side, as they got Chris 882 00:47:44,600 --> 00:47:47,719 Speaker 1: Hayes's show. They do not waste their time when they 883 00:47:47,840 --> 00:47:51,239 Speaker 1: get something in the gun sights. They know it's important, 884 00:47:51,480 --> 00:47:55,000 Speaker 1: and they they got they got brother Ed Martin in 885 00:47:55,040 --> 00:47:59,759 Speaker 1: the gun sights because they understand there's enough cowardice in 886 00:47:59,800 --> 00:48:06,160 Speaker 1: the Republican Party to blink. We cannot we cannot blink. 887 00:48:07,440 --> 00:48:10,719 Speaker 1: We cannot blink in the and there's still this amazing 888 00:48:11,040 --> 00:48:15,960 Speaker 1: lack of urgency with with this administrative and deep state. 889 00:48:19,960 --> 00:48:21,880 Speaker 1: I'm gonna get into the administrative state and the DOJE 890 00:48:21,880 --> 00:48:25,360 Speaker 1: efforts about how hard it is to penetrate this of 891 00:48:25,480 --> 00:48:29,960 Speaker 1: how hard it is to smash it, and the people 892 00:48:30,040 --> 00:48:32,800 Speaker 1: like Ed Martin, they're prepared to step into the breach 893 00:48:32,880 --> 00:48:36,560 Speaker 1: and say, hey, I'm all in only a handful. We 894 00:48:36,600 --> 00:48:39,880 Speaker 1: have to have their back, Okay, sure, commercial break Birch 895 00:48:39,880 --> 00:48:46,560 Speaker 1: Gold The Rio Reset right now. It's the seventh free installment. 896 00:48:46,800 --> 00:48:49,600 Speaker 1: Go to birch gold dot com. Slash Bannon get Rio 897 00:48:49,719 --> 00:48:54,160 Speaker 1: Reset Today, homework assignment, Get up and get ready be 898 00:48:54,239 --> 00:48:54,960 Speaker 1: back in a moment.