1 00:00:00,120 --> 00:00:03,280 Speaker 1: Our two of Clay and Buck starts right now, and 2 00:00:03,480 --> 00:00:07,360 Speaker 1: we said we'd get into the banking crisis and also 3 00:00:07,480 --> 00:00:15,560 Speaker 1: Biden's first veto of his presidency, and we will dive 4 00:00:15,600 --> 00:00:17,880 Speaker 1: into it right now. Janet Yellen is out there. First 5 00:00:17,920 --> 00:00:19,400 Speaker 1: of all, let's just let's just take a moment to 6 00:00:19,440 --> 00:00:22,040 Speaker 1: see where we are. We'll talk about what the Treasury 7 00:00:22,079 --> 00:00:25,520 Speaker 1: Secretary is saying, and then why Biden's first veto really 8 00:00:25,520 --> 00:00:29,319 Speaker 1: does tie in very much to the economy and the 9 00:00:29,520 --> 00:00:34,720 Speaker 1: financial woes that have befallen us. But first off, here's 10 00:00:34,760 --> 00:00:37,919 Speaker 1: the situation. Yellen has to calm everybody down, so she's 11 00:00:37,920 --> 00:00:42,599 Speaker 1: saying the situation is stabilizing. It's fine. UBS has purchased 12 00:00:42,600 --> 00:00:45,320 Speaker 1: Credit Squeeze, a Swiss bank for a bargain basement price. 13 00:00:45,680 --> 00:00:48,599 Speaker 1: Why does that matter to anybody listening? These are massive 14 00:00:48,680 --> 00:00:53,280 Speaker 1: financial institutions with account holders all over the planet, and 15 00:00:53,920 --> 00:00:56,640 Speaker 1: the reason that they're going, or rather the reason the 16 00:00:56,640 --> 00:00:58,760 Speaker 1: Credit Squeeze is in trouble. Sure, there's a lot of 17 00:00:58,760 --> 00:01:02,880 Speaker 1: things our Kagos they've they've done, They've had some bad 18 00:01:02,920 --> 00:01:05,880 Speaker 1: things go down there in the last few years, but 19 00:01:06,160 --> 00:01:09,399 Speaker 1: ultimately it's about getting on the wrong side of rates, 20 00:01:09,440 --> 00:01:11,760 Speaker 1: not being able to get the yield they need making 21 00:01:11,760 --> 00:01:15,559 Speaker 1: bad decisions. A lot of banks, including here in America, obviously, 22 00:01:15,840 --> 00:01:18,080 Speaker 1: are in a similar position, and there could be a 23 00:01:18,080 --> 00:01:21,000 Speaker 1: whole heck of a lot more. Here is yelling trying 24 00:01:21,040 --> 00:01:25,240 Speaker 1: to tell everybody, first of all, don't worry, it's not 25 00:01:25,360 --> 00:01:29,080 Speaker 1: like it was in two thousand and eight. Play five. Well, 26 00:01:29,120 --> 00:01:32,479 Speaker 1: we don't yet have all the details about the collapse 27 00:01:32,520 --> 00:01:35,600 Speaker 1: of the two banks. We do know that if the 28 00:01:35,720 --> 00:01:39,600 Speaker 1: recent developments are very different than those of the global 29 00:01:39,680 --> 00:01:46,520 Speaker 1: financial crisis. Back then, many financial institutions came under stress 30 00:01:46,920 --> 00:01:51,000 Speaker 1: due to their holdings of subprime assets. We do not 31 00:01:51,160 --> 00:01:56,280 Speaker 1: see that situation in the banking system today. Our financial 32 00:01:56,320 --> 00:02:02,840 Speaker 1: system is also significantly stronger than it was fifteen years ago. Okay, 33 00:02:02,960 --> 00:02:04,560 Speaker 1: a couple of things that jump out to me right away. 34 00:02:04,600 --> 00:02:08,440 Speaker 1: I'm talking to all my finance people, including family members 35 00:02:08,480 --> 00:02:11,120 Speaker 1: who have many, many decades between them in working on 36 00:02:11,160 --> 00:02:14,440 Speaker 1: Wall Street. And one thing is, yeah, in two thousand 37 00:02:14,440 --> 00:02:17,919 Speaker 1: and eight, the debt was ten trillion dollars. Now it's 38 00:02:18,000 --> 00:02:21,280 Speaker 1: thirty one trillion dollars, and we're going into a rising 39 00:02:21,320 --> 00:02:23,639 Speaker 1: interest rate period. We're just servicing the debt is a 40 00:02:23,720 --> 00:02:27,000 Speaker 1: huge anyway, there's genus. Imagine, we've tripled the debt since 41 00:02:27,000 --> 00:02:30,440 Speaker 1: what Yellen's talking about. And yes, the toxic subprime mortgages 42 00:02:30,480 --> 00:02:33,080 Speaker 1: are not the issue now, but what has been the 43 00:02:33,120 --> 00:02:41,440 Speaker 1: issue so far is actually the safest kinds of treasury bonds. Yeah. 44 00:02:41,480 --> 00:02:43,480 Speaker 1: So I spent a lot of time thinking about this 45 00:02:43,919 --> 00:02:48,320 Speaker 1: over last weekend, Buck, when Silicon Valley Bank collapsed on Friday, 46 00:02:49,200 --> 00:02:51,680 Speaker 1: going into the weekend, even though I was over in Italy, 47 00:02:52,240 --> 00:02:55,480 Speaker 1: I was looking at our bank accounts. I was analyzing 48 00:02:56,040 --> 00:02:59,760 Speaker 1: we have a primary bank relationship, as many of you do, 49 00:03:00,520 --> 00:03:04,480 Speaker 1: and was that bank sound. And here's what I don't 50 00:03:04,520 --> 00:03:08,680 Speaker 1: think a lot of people have thought about structurally. So 51 00:03:09,800 --> 00:03:14,680 Speaker 1: if tomorrow everyone decides they need to go to X 52 00:03:14,720 --> 00:03:18,000 Speaker 1: bank and get their money out, it isn't there. Okay, 53 00:03:18,200 --> 00:03:22,040 Speaker 1: it doesn't exist. They don't have the ability in almost 54 00:03:22,120 --> 00:03:25,720 Speaker 1: any bank to actually pay out all of the money 55 00:03:25,760 --> 00:03:28,200 Speaker 1: that is on the accounts that they say that they have, 56 00:03:28,600 --> 00:03:31,959 Speaker 1: not just in cash, but electronically as well. That's a 57 00:03:31,960 --> 00:03:35,320 Speaker 1: correct issue that people don't necessarily realize. And what a 58 00:03:35,320 --> 00:03:38,840 Speaker 1: lot of people don't think about is you're only ensured 59 00:03:38,960 --> 00:03:42,480 Speaker 1: up to two hundred and fifty thousand dollars by the FDIC. Now, 60 00:03:42,640 --> 00:03:44,120 Speaker 1: so people out there like, well, if you have more 61 00:03:44,160 --> 00:03:46,360 Speaker 1: than two hundred and fifty thousand dollars in a bank, 62 00:03:46,440 --> 00:03:50,200 Speaker 1: you're super rich, not necessarily, right. I have had over 63 00:03:50,240 --> 00:03:52,600 Speaker 1: two hundred and fifty thousand dollars in a bank running 64 00:03:52,600 --> 00:03:56,480 Speaker 1: a business that was not wildly profitable because I had 65 00:03:56,480 --> 00:03:59,200 Speaker 1: to pay all my employees at the time. Right, Because 66 00:03:59,600 --> 00:04:02,160 Speaker 1: it's ry common if you run a small business out there, 67 00:04:02,520 --> 00:04:05,760 Speaker 1: that you aren't trying to do something really complicated with 68 00:04:05,800 --> 00:04:08,280 Speaker 1: the money that you're making, you just might you might 69 00:04:08,360 --> 00:04:11,280 Speaker 1: run a high balance. Right. So what note what I 70 00:04:11,320 --> 00:04:14,360 Speaker 1: haven't seen anybody talking about, Buck, is I believe now 71 00:04:14,400 --> 00:04:20,640 Speaker 1: they are debating the FED guaranteeing every dollar of every 72 00:04:20,680 --> 00:04:24,160 Speaker 1: bank account out there, and I believe that adds up. 73 00:04:24,200 --> 00:04:26,280 Speaker 1: We've got to cut on this. I believe Buck. I 74 00:04:26,279 --> 00:04:29,600 Speaker 1: think that adds up to eighteen trillion dollars. Now, right, 75 00:04:29,640 --> 00:04:31,520 Speaker 1: she doesn't go she doesn't go all the way there, 76 00:04:32,360 --> 00:04:35,120 Speaker 1: but they won't not go all the way there. If 77 00:04:35,520 --> 00:04:38,120 Speaker 1: you catch my drift, They're leaving it open ended. But 78 00:04:38,200 --> 00:04:40,880 Speaker 1: she is telling everybody, I mean, we could have more 79 00:04:40,920 --> 00:04:45,440 Speaker 1: bank rescues under way. Play seven. First, we work with 80 00:04:45,480 --> 00:04:51,240 Speaker 1: the Federal Reserve and FDIC to protect old depositors in 81 00:04:51,320 --> 00:04:56,719 Speaker 1: the resolutions of Silicon Valley Bank and Signature Bank, the 82 00:04:56,839 --> 00:05:02,080 Speaker 1: steps we took, we're not focused on eating specific banks 83 00:05:02,200 --> 00:05:07,720 Speaker 1: or classes of banks. Our intervention was necessary to protect 84 00:05:07,760 --> 00:05:12,760 Speaker 1: the broader US banking system. Okay, that's not Similar actions 85 00:05:12,920 --> 00:05:19,400 Speaker 1: could be warranted if smaller institutions suffered deposit runs to 86 00:05:19,680 --> 00:05:23,120 Speaker 1: pose the risk of contagion. Okay. I just want to 87 00:05:23,160 --> 00:05:26,000 Speaker 1: say when she said that it wasn't to aid specific banks, 88 00:05:26,400 --> 00:05:29,440 Speaker 1: it absolutely was to aid specific banks. They're making the 89 00:05:29,520 --> 00:05:33,600 Speaker 1: case or they made the case and continue to that 90 00:05:33,640 --> 00:05:37,200 Speaker 1: there were systemic risks, but clearly they decided to go 91 00:05:37,240 --> 00:05:39,040 Speaker 1: in in certain banks we're going to get saved who 92 00:05:39,760 --> 00:05:43,640 Speaker 1: by the by, Certainly the FDIC limits should should not 93 00:05:43,760 --> 00:05:47,600 Speaker 1: have been And this is why I think everyone right 94 00:05:47,640 --> 00:05:50,760 Speaker 1: now we're sitting around hoping that if someone kicks the 95 00:05:51,279 --> 00:05:55,200 Speaker 1: kicks the log over and we see what's underneath here, financially, 96 00:05:55,200 --> 00:05:59,080 Speaker 1: we're not all going to be terrified by the exposure 97 00:05:59,080 --> 00:06:01,039 Speaker 1: and the risk of these banks have had and it's 98 00:06:01,040 --> 00:06:03,279 Speaker 1: all caused and effect lay that they didn't want people 99 00:06:03,839 --> 00:06:05,839 Speaker 1: that they didn't want us to have a reset. Nobody 100 00:06:05,880 --> 00:06:10,080 Speaker 1: wants to allow a recession to play out. So instead 101 00:06:10,120 --> 00:06:12,360 Speaker 1: they just put all this cheap money everywhere. They throw 102 00:06:12,360 --> 00:06:14,679 Speaker 1: all the money out there. They can. They do quantitative viasing. 103 00:06:14,720 --> 00:06:17,280 Speaker 1: You can't make any money in a normal bank account, 104 00:06:17,320 --> 00:06:23,000 Speaker 1: in normal savings. They punish savers and they encourage spenders. 105 00:06:22,640 --> 00:06:25,240 Speaker 1: That has a price tag attached to it for all 106 00:06:25,279 --> 00:06:27,960 Speaker 1: of us. Yeah, and what these banks were doing is 107 00:06:28,000 --> 00:06:30,800 Speaker 1: they were actually trying to be super safe. They were 108 00:06:30,839 --> 00:06:35,400 Speaker 1: buying Treasury secretary securities. But they did it right before 109 00:06:35,440 --> 00:06:38,440 Speaker 1: interest rates got raised by five points in a year, 110 00:06:38,880 --> 00:06:42,280 Speaker 1: and so they're underwater because you're going to eventually get 111 00:06:42,320 --> 00:06:45,479 Speaker 1: your money back, but inflation has skyrocketed at such a 112 00:06:45,600 --> 00:06:49,039 Speaker 1: level that you're effectively losing money by having all of 113 00:06:49,080 --> 00:06:52,240 Speaker 1: the securitized options at one and a half percent interest 114 00:06:52,279 --> 00:06:54,520 Speaker 1: as opposed to five percent. Right, I mean this is 115 00:06:54,640 --> 00:06:58,039 Speaker 1: I've had people that have traded huge bond portfolios have 116 00:06:58,120 --> 00:06:59,760 Speaker 1: to explain this to me a few times. Just so 117 00:07:00,760 --> 00:07:05,720 Speaker 1: it's not that the treasuries were bad investments over the 118 00:07:05,800 --> 00:07:10,000 Speaker 1: actual term of the bond. It's that the banks, right, 119 00:07:10,080 --> 00:07:13,840 Speaker 1: the banks were there was a run on SVB, meaning 120 00:07:13,880 --> 00:07:15,760 Speaker 1: a lot of people wanted their money out because of 121 00:07:15,800 --> 00:07:17,560 Speaker 1: a few things that SBB did. One of them was 122 00:07:17,800 --> 00:07:21,680 Speaker 1: investing in mortgage back securities, not subprime mortgage back securities, 123 00:07:21,720 --> 00:07:23,880 Speaker 1: which was two thousand and eight, but mortgage back securities 124 00:07:23,880 --> 00:07:27,880 Speaker 1: and treasury bonds, and then because those were trading at 125 00:07:28,000 --> 00:07:31,280 Speaker 1: less because of the interest rate rise, they It's almost 126 00:07:31,280 --> 00:07:33,640 Speaker 1: like if I told you, hey, guys, this stock is 127 00:07:33,680 --> 00:07:35,360 Speaker 1: going to go up in a year, I have to 128 00:07:35,440 --> 00:07:37,880 Speaker 1: hold it. And then you say, hey, well you owe 129 00:07:37,880 --> 00:07:40,600 Speaker 1: money for you know, you owe money for this house 130 00:07:40,640 --> 00:07:42,120 Speaker 1: you want to buy, And I say, well, hold on, 131 00:07:42,240 --> 00:07:44,240 Speaker 1: I don't want to sell the stock now. In a year, 132 00:07:44,320 --> 00:07:46,680 Speaker 1: it's gonna be up twenty percent. I know it. If 133 00:07:46,720 --> 00:07:48,720 Speaker 1: you sell it now, it doesn't matter if it's up 134 00:07:48,760 --> 00:07:51,160 Speaker 1: in the year. If you have to sell your treasuries 135 00:07:51,280 --> 00:07:54,760 Speaker 1: now to cover the depositors, they're trading at less than 136 00:07:54,800 --> 00:07:57,320 Speaker 1: when you bought them. Therefore there's a massive loss, which 137 00:07:57,360 --> 00:07:59,960 Speaker 1: is what happened to these banks. But this is how 138 00:08:00,160 --> 00:08:01,840 Speaker 1: and do a lot, I mean a lot of banks 139 00:08:01,840 --> 00:08:04,960 Speaker 1: are sitting there sweating right now and hope nobody figures 140 00:08:04,960 --> 00:08:07,920 Speaker 1: it out. Because part of this was social media driven. Yeah. 141 00:08:07,960 --> 00:08:10,400 Speaker 1: Once you know, Peter Till and some others got out 142 00:08:10,440 --> 00:08:13,040 Speaker 1: there and said, guys, this bank is you gotta get 143 00:08:13,080 --> 00:08:15,440 Speaker 1: your money out. This is this is you know, looking 144 00:08:15,520 --> 00:08:18,160 Speaker 1: really really tough for the balance sheet, and people did, 145 00:08:18,960 --> 00:08:22,240 Speaker 1: and that's where you go to. Now. Basically, the FED 146 00:08:22,360 --> 00:08:26,960 Speaker 1: is talking about doing eighteen trillion dollars, which is all 147 00:08:27,040 --> 00:08:30,119 Speaker 1: deposits guaranteed, as opposed to just up to two hundred 148 00:08:30,160 --> 00:08:34,320 Speaker 1: and fifty thousand. And if that occurs, the challenge that 149 00:08:34,400 --> 00:08:36,160 Speaker 1: you're and this is what the decision the Fed's going 150 00:08:36,200 --> 00:08:39,200 Speaker 1: to have to make tomorrow, Buck. The challenge that you're 151 00:08:39,240 --> 00:08:43,080 Speaker 1: in then is every decision that the FED makes that 152 00:08:43,200 --> 00:08:49,080 Speaker 1: requires more money supply increases overall inflation. So you, on 153 00:08:49,080 --> 00:08:51,640 Speaker 1: one hand are saying, well, we want to guarantee all 154 00:08:51,679 --> 00:08:54,600 Speaker 1: of these deposits to avoid all these bank runs and 155 00:08:54,679 --> 00:08:58,520 Speaker 1: the potential calamity that could befall our economy as a result. 156 00:08:59,320 --> 00:09:03,080 Speaker 1: But cybelt peously, you're trying to bring down this massive 157 00:09:03,120 --> 00:09:06,600 Speaker 1: inflation forty year high, and in order to do that, 158 00:09:07,600 --> 00:09:12,800 Speaker 1: you likely have to print more cash, which increases in 159 00:09:12,800 --> 00:09:17,280 Speaker 1: inflationary pressure while you're simultaneously raising interest rates, which means 160 00:09:17,280 --> 00:09:20,920 Speaker 1: you have conflicting Fed goals. And I know that can 161 00:09:20,960 --> 00:09:24,120 Speaker 1: sound complicated out there to everybody, because you're like interest 162 00:09:24,240 --> 00:09:28,200 Speaker 1: rates and FED and everything else. Basically, the economy is 163 00:09:28,320 --> 00:09:31,280 Speaker 1: broken and you don't have a good option to fix 164 00:09:31,280 --> 00:09:33,600 Speaker 1: it right now based on where we are. Yeah, and 165 00:09:33,640 --> 00:09:37,360 Speaker 1: think about people that have been saving their money, living 166 00:09:37,400 --> 00:09:41,559 Speaker 1: below their means, haven't been able to get yield in 167 00:09:41,640 --> 00:09:44,040 Speaker 1: a savings account in their bank for how many years? 168 00:09:44,080 --> 00:09:47,800 Speaker 1: Now you've got to do riskier stuff with it. Well, 169 00:09:47,800 --> 00:09:50,400 Speaker 1: how do you create bubbles? People are chasing higher and 170 00:09:50,480 --> 00:09:52,600 Speaker 1: higher yield and think that it's never gonna stop, and 171 00:09:52,640 --> 00:09:54,320 Speaker 1: it keeps going. You know, people will call it a 172 00:09:54,360 --> 00:09:57,080 Speaker 1: melt up phase. Right, it'll just keep getting more and 173 00:09:57,160 --> 00:10:00,520 Speaker 1: more frenzied. And when you add I mean, I'm sorry. 174 00:10:00,920 --> 00:10:03,000 Speaker 1: When you have people who are selling do you remember this, 175 00:10:03,440 --> 00:10:11,040 Speaker 1: like I selling these uh like digital to what was NFTs. Yeah, yeah, 176 00:10:11,080 --> 00:10:14,079 Speaker 1: this was insane, Okay these things that people were and 177 00:10:14,080 --> 00:10:15,680 Speaker 1: it was I'm down here in Miami. There were all 178 00:10:15,720 --> 00:10:18,560 Speaker 1: these people that were buying like, oh I I own this, 179 00:10:19,120 --> 00:10:21,200 Speaker 1: you know, digital image of a parrot, and I'm gonna 180 00:10:21,240 --> 00:10:24,160 Speaker 1: like license it out for a million dollars. People were 181 00:10:24,160 --> 00:10:28,240 Speaker 1: paying crazy anyway, there was a classic Tolmania bubble on 182 00:10:28,280 --> 00:10:31,720 Speaker 1: the digital currency side and on these um these non 183 00:10:31,800 --> 00:10:35,880 Speaker 1: fungible NFTs non fungible tokens, which still whatever you have, 184 00:10:35,920 --> 00:10:38,480 Speaker 1: someone try to explain to you what the what it is. 185 00:10:38,520 --> 00:10:40,080 Speaker 1: By the way, and I've had many people who are 186 00:10:40,080 --> 00:10:43,360 Speaker 1: big NFT people. I'm like, that's that just sounds like nonsense, 187 00:10:43,360 --> 00:10:45,559 Speaker 1: Like you're not a question I always asked bucket is 188 00:10:45,600 --> 00:10:47,360 Speaker 1: trying to just strip yourself out of it and be like, 189 00:10:47,600 --> 00:10:51,439 Speaker 1: is this a thing i'd like to own? Yeah, beachfront house, Yeah, 190 00:10:51,480 --> 00:10:55,319 Speaker 1: that sounds really nice, really nice car jet like, okay, 191 00:10:55,400 --> 00:10:57,679 Speaker 1: a yacht. I can see why people would want those things. 192 00:10:58,040 --> 00:11:02,920 Speaker 1: A digital token of an ape that's board and I 193 00:11:02,960 --> 00:11:04,560 Speaker 1: was supposed to pay a million dollars for that, Like, 194 00:11:04,600 --> 00:11:06,920 Speaker 1: I just don't understand where the market is. Right, ask 195 00:11:06,960 --> 00:11:09,600 Speaker 1: yourself sometimes and you just strip back all the questions. 196 00:11:09,600 --> 00:11:11,160 Speaker 1: I think you have to just say, wait, is this 197 00:11:11,320 --> 00:11:14,360 Speaker 1: something that people are gonna want most of the time? 198 00:11:14,400 --> 00:11:16,559 Speaker 1: If it's to me? If it again, it's a non 199 00:11:16,600 --> 00:11:20,679 Speaker 1: fungible token, that means it's not physically real, Like I 200 00:11:20,760 --> 00:11:22,360 Speaker 1: don't know necessarily that that's going to have a lot 201 00:11:22,360 --> 00:11:24,400 Speaker 1: of appeal. So we gotta we'll come back here and 202 00:11:24,400 --> 00:11:28,040 Speaker 1: get into the Biden veto, which this also affects your money, 203 00:11:28,480 --> 00:11:32,120 Speaker 1: your retirement accounts, and essentially Biden wants to make sure 204 00:11:32,160 --> 00:11:34,000 Speaker 1: he used his veto pen for the first time in 205 00:11:34,040 --> 00:11:38,920 Speaker 1: his presidency to make sure that woke considerations will go 206 00:11:39,000 --> 00:11:41,199 Speaker 1: into where your money and your four oh one k 207 00:11:41,440 --> 00:11:46,600 Speaker 1: not necessarily but very probably will go. That's there's big 208 00:11:46,640 --> 00:11:48,560 Speaker 1: implications of this. We'll talk about it. We come back, 209 00:11:49,160 --> 00:11:51,080 Speaker 1: no doubt. In the meantime. 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My 220 00:12:20,400 --> 00:12:23,040 Speaker 1: Pillow two point zero, one hundred percent made in the USA, 221 00:12:23,200 --> 00:12:26,800 Speaker 1: comes with a ten year warranty, sixty day money back guarantee. 222 00:12:26,920 --> 00:12:29,200 Speaker 1: Go to my pillow dot com click on the radio 223 00:12:29,280 --> 00:12:33,040 Speaker 1: listener special Square. To get this incredible buy one, get 224 00:12:33,040 --> 00:12:35,560 Speaker 1: one free offer, enter the promo code Clay and Buck. 225 00:12:35,600 --> 00:12:38,920 Speaker 1: You can also call eight hundred seven nine two thirty 226 00:12:38,920 --> 00:12:41,880 Speaker 1: two sixty nine Get your My Pillow two point zero. 227 00:12:42,120 --> 00:12:47,319 Speaker 1: Today from the front lines of Freedom and Truth, Clay 228 00:12:47,360 --> 00:12:58,960 Speaker 1: Travis and Buck Sexton, Welcome back in Clay Travis Buck 229 00:12:59,080 --> 00:13:04,120 Speaker 1: Sexton Show. We're talking about the ongoing fallout, although hopefully 230 00:13:04,200 --> 00:13:06,880 Speaker 1: it has been resolved on frankly both sides of the Atlantic, 231 00:13:06,880 --> 00:13:08,440 Speaker 1: because this was a big story while I was in 232 00:13:08,480 --> 00:13:13,200 Speaker 1: Italy two and it's kind of played out Buck for 233 00:13:13,480 --> 00:13:17,040 Speaker 1: a week or more, and the stock market right now 234 00:13:17,320 --> 00:13:19,400 Speaker 1: is up. The FED has to make a decision about 235 00:13:19,400 --> 00:13:22,400 Speaker 1: whether or not to raise rates tomorrow. There seems to 236 00:13:22,400 --> 00:13:24,880 Speaker 1: be some stability, but it's swung back and forth in 237 00:13:24,960 --> 00:13:30,199 Speaker 1: big directions. Here is the sort of, I think question 238 00:13:30,280 --> 00:13:34,600 Speaker 1: that it continues to linger out there is how in 239 00:13:34,640 --> 00:13:39,040 Speaker 1: the world is the FED going to fix this economy? 240 00:13:39,840 --> 00:13:45,640 Speaker 1: Because Buck going up basically five points on the interest 241 00:13:45,760 --> 00:13:49,600 Speaker 1: rates in the space of a year is unprecedented, and 242 00:13:49,640 --> 00:13:51,960 Speaker 1: they wanted to make it sound like, oh, we're going 243 00:13:52,000 --> 00:13:54,120 Speaker 1: to be able to rectify this, but I think many 244 00:13:54,120 --> 00:13:57,000 Speaker 1: of you out there listening to us right now, understand 245 00:13:57,040 --> 00:13:59,760 Speaker 1: the challenges of this. Maybe just even in the context 246 00:13:59,800 --> 00:14:03,200 Speaker 1: of your mortgage. If you have right now a fifteen 247 00:14:03,280 --> 00:14:05,160 Speaker 1: or thirty year mortgage, and I hope a bunch of 248 00:14:05,200 --> 00:14:09,200 Speaker 1: you do that is around a three percent rate, a 249 00:14:09,200 --> 00:14:11,240 Speaker 1: lot of you probably are like, I don't want to move. 250 00:14:11,800 --> 00:14:13,240 Speaker 1: I don't want to go to a new house. I 251 00:14:13,240 --> 00:14:14,880 Speaker 1: don't want to go to a new neighborhood because you're 252 00:14:14,880 --> 00:14:16,160 Speaker 1: gonna have to take out a six and a half 253 00:14:16,240 --> 00:14:19,960 Speaker 1: or seven percent mortgage. Well, in many ways, that's what 254 00:14:20,040 --> 00:14:23,800 Speaker 1: these banks are dealing with, is they have got rates 255 00:14:23,920 --> 00:14:27,760 Speaker 1: locked in much lower. But it's a bad proposition for 256 00:14:27,800 --> 00:14:31,520 Speaker 1: them because the rates of skyrocketed so quickly, and Buck, 257 00:14:31,600 --> 00:14:35,200 Speaker 1: I don't understand how this washes itself out and gets 258 00:14:35,200 --> 00:14:39,280 Speaker 1: rectified anytime soon, because the Biden administration obviously is lying 259 00:14:39,280 --> 00:14:42,880 Speaker 1: to people and they're saying, oh, we're gonna handle inflation. Well, okay, 260 00:14:43,120 --> 00:14:44,960 Speaker 1: you hold this inflation was never going to be an 261 00:14:44,960 --> 00:14:47,320 Speaker 1: issue and went over nine percent and we're still setting 262 00:14:47,320 --> 00:14:49,800 Speaker 1: at six percent now, and now we got a banking 263 00:14:49,880 --> 00:14:53,560 Speaker 1: crisis brought on by this inflation crisis. And in order 264 00:14:53,600 --> 00:14:56,520 Speaker 1: to solve the banking crisis. In many ways, you have 265 00:14:56,640 --> 00:14:59,360 Speaker 1: to give up on fighting inflation. So what I think 266 00:14:59,400 --> 00:15:01,080 Speaker 1: is going to happen, They're eventually going to come out 267 00:15:01,120 --> 00:15:04,440 Speaker 1: buck and say two percent was way, it didn't really matter, 268 00:15:04,720 --> 00:15:06,960 Speaker 1: you know, three and a half or four percent inflations 269 00:15:07,040 --> 00:15:09,000 Speaker 1: not that bad. That's where I think we're headed. This 270 00:15:09,080 --> 00:15:13,880 Speaker 1: is with my finance and e con brain trust that 271 00:15:13,920 --> 00:15:15,560 Speaker 1: I go to on these things, that there was a 272 00:15:15,560 --> 00:15:18,920 Speaker 1: bit of a consensus that there's a very you're very 273 00:15:19,000 --> 00:15:21,000 Speaker 1: likely to see the same way you did. This has 274 00:15:21,000 --> 00:15:25,760 Speaker 1: already happened, So it shouldn't be considered strange or outlandish. 275 00:15:25,800 --> 00:15:28,040 Speaker 1: If things start to feel bad in the economy, but 276 00:15:28,120 --> 00:15:29,680 Speaker 1: all of a sudden you're being told they're not as 277 00:15:29,720 --> 00:15:33,040 Speaker 1: bad as they are, and they're changing definitions, that's what 278 00:15:33,160 --> 00:15:36,560 Speaker 1: it's going It'll be, oh, no, we're not in a 279 00:15:36,600 --> 00:15:39,560 Speaker 1: period of stagflation, or we're not unable to tame the 280 00:15:40,400 --> 00:15:42,560 Speaker 1: inflation that we thought, you know, whatever it may be. 281 00:15:42,920 --> 00:15:45,480 Speaker 1: We're going to try to convince you that you shouldn't 282 00:15:45,480 --> 00:15:49,120 Speaker 1: listen to your lying ears and believe your lying eyes 283 00:15:49,240 --> 00:15:51,760 Speaker 1: about what's happening in the economy. That Biden's doing a 284 00:15:51,800 --> 00:15:53,880 Speaker 1: great job and all you have to do is look 285 00:15:53,880 --> 00:15:56,880 Speaker 1: over here. Don't pay attention to you know, your mortgage, 286 00:15:56,880 --> 00:16:00,040 Speaker 1: your bills, anything else. Look over here. Everything's great and 287 00:16:00,440 --> 00:16:04,560 Speaker 1: effectively just turn into a propaganda show. Yeah, and you 288 00:16:04,640 --> 00:16:08,240 Speaker 1: all know it, you can feel it. And no one 289 00:16:08,280 --> 00:16:09,840 Speaker 1: has explained to me how we're going to get out 290 00:16:09,840 --> 00:16:13,480 Speaker 1: of the housing mess that we're in, because there's so 291 00:16:13,480 --> 00:16:16,480 Speaker 1: many people, Buck who are just never gonna move. You 292 00:16:16,560 --> 00:16:19,520 Speaker 1: got a thirty year mortgage at three percent. How much 293 00:16:19,560 --> 00:16:22,280 Speaker 1: better does the house have to be in order for 294 00:16:22,320 --> 00:16:25,800 Speaker 1: you to take a seven percent mortgage and pay well 295 00:16:25,840 --> 00:16:29,040 Speaker 1: over twice as much money, probably in a new home. 296 00:16:31,000 --> 00:16:33,760 Speaker 1: I just I don't know how this washes itself out, 297 00:16:34,240 --> 00:16:38,280 Speaker 1: and the bank's aspect, it's almost no one even discussing 298 00:16:38,560 --> 00:16:42,920 Speaker 1: do we really want the Fed taking on? Eighteen trillion 299 00:16:43,040 --> 00:16:45,120 Speaker 1: is the number that I've seen of deposits that are 300 00:16:45,160 --> 00:16:51,000 Speaker 1: out there, eighteen trillion dollars in additional obligation because do 301 00:16:51,040 --> 00:16:53,400 Speaker 1: you know where the FED money comes from? Right? They 302 00:16:53,480 --> 00:16:57,560 Speaker 1: just print it all. And so we're already thirty trillion. 303 00:16:57,600 --> 00:16:59,800 Speaker 1: Buck you hit on in two thousand and eight, we're 304 00:16:59,800 --> 00:17:02,920 Speaker 1: only ten trillion in debt. Now we're over thirty trillion. 305 00:17:03,520 --> 00:17:06,200 Speaker 1: Do we want to add another twenty trillion in debt, 306 00:17:06,440 --> 00:17:09,520 Speaker 1: basically obligations on behalf of the FED. I don't even 307 00:17:09,560 --> 00:17:12,040 Speaker 1: hear people asking these questions. I think it's because many 308 00:17:12,040 --> 00:17:15,879 Speaker 1: people get intimidated by economics and they're nervous about not 309 00:17:15,960 --> 00:17:18,160 Speaker 1: really understanding the interest rates. Which is why I think 310 00:17:18,200 --> 00:17:20,120 Speaker 1: mortgage rates make a lot of sense to people, because 311 00:17:20,160 --> 00:17:24,000 Speaker 1: you understand, the difference between three and seven percent is seismic, 312 00:17:24,200 --> 00:17:25,679 Speaker 1: and so many of you out there are not going 313 00:17:25,720 --> 00:17:27,960 Speaker 1: to move because of it. You just don't want to 314 00:17:27,960 --> 00:17:29,880 Speaker 1: sell your homes, even if you maybe having a new kid, 315 00:17:30,160 --> 00:17:32,040 Speaker 1: even if you want to get into a new school district. 316 00:17:32,160 --> 00:17:33,800 Speaker 1: There's a lot of dad's out there running the math 317 00:17:33,840 --> 00:17:35,800 Speaker 1: the back of the envelope, saying this is gonna cost 318 00:17:35,880 --> 00:17:38,720 Speaker 1: us way too much money. Remember the old cartoon where 319 00:17:39,640 --> 00:17:41,359 Speaker 1: this is an old cartoon bit they would do a 320 00:17:41,400 --> 00:17:43,200 Speaker 1: whole bunch of different ones where you know, the dam 321 00:17:43,359 --> 00:17:46,000 Speaker 1: is breaking and the character whether it's you know, Bugs, 322 00:17:46,000 --> 00:17:48,600 Speaker 1: Bunny or whoever, is trying to put fingers in the 323 00:17:48,600 --> 00:17:50,840 Speaker 1: different holes damn, you know, and then and then you 324 00:17:51,000 --> 00:17:53,399 Speaker 1: run out and then the damn. That's kind of like 325 00:17:53,440 --> 00:17:55,800 Speaker 1: the FED, and it's kind of like the Treasury at 326 00:17:55,800 --> 00:17:57,680 Speaker 1: this you know, at some point they just try to 327 00:17:57,760 --> 00:18:01,359 Speaker 1: keep preventing the recession from happening, and the damn breaks, 328 00:18:01,400 --> 00:18:04,439 Speaker 1: the music stops, pick your metaphor, and then things get 329 00:18:04,520 --> 00:18:08,040 Speaker 1: ugly out there. So yeah, this question to win, no doubt. 330 00:18:08,080 --> 00:18:10,520 Speaker 1: I mean, it's a huge mess and I don't know 331 00:18:10,520 --> 00:18:12,840 Speaker 1: how it's going to get resolved. But in the meantime, 332 00:18:13,080 --> 00:18:14,880 Speaker 1: what's something about how you can save some money, because 333 00:18:14,880 --> 00:18:16,399 Speaker 1: a lot of you are trying to save money. What 334 00:18:16,480 --> 00:18:19,000 Speaker 1: if you get maybe maybe say nine hundred dollars a year, 335 00:18:19,000 --> 00:18:21,840 Speaker 1: how much difference would that make for you and your family? Well, 336 00:18:22,160 --> 00:18:24,120 Speaker 1: that's what you can do if you switch to Pure 337 00:18:24,119 --> 00:18:27,800 Speaker 1: Talk today, brand new iPhone for just twelve bucks a 338 00:18:27,840 --> 00:18:31,159 Speaker 1: month at zero percent interest and no contract. You can 339 00:18:31,200 --> 00:18:35,040 Speaker 1: cancel or leave anytime. Again. It's a new iPhone Ultra 340 00:18:35,160 --> 00:18:38,240 Speaker 1: Fast five G service, and you can cut your cell 341 00:18:38,280 --> 00:18:41,720 Speaker 1: phone bill in half. Just by switching to pure Talk. 342 00:18:41,760 --> 00:18:44,120 Speaker 1: You can get talking text plans thirty dollars a month, 343 00:18:44,400 --> 00:18:46,760 Speaker 1: plenty of high speed data, all backs by one hundred 344 00:18:46,800 --> 00:18:49,680 Speaker 1: percent money back guarantee. Here's how you do it. Dial 345 00:18:49,760 --> 00:18:52,919 Speaker 1: pound two fifty, say Clay and buck for this special offer. 346 00:18:53,240 --> 00:18:56,639 Speaker 1: That's pound two five zero, say Clay and Buck pure 347 00:18:56,640 --> 00:19:01,439 Speaker 1: talk is simply smarter wireless restrictions, supply se site details Fleet, 348 00:19:01,480 --> 00:19:05,719 Speaker 1: Travis and Buck Sexton on the front lines of truth. 349 00:19:13,960 --> 00:19:19,600 Speaker 1: The first veto of Biden's presidency. What was it all? 350 00:19:20,080 --> 00:19:24,000 Speaker 1: You might be wondering, Well, first you can hear the 351 00:19:24,000 --> 00:19:27,239 Speaker 1: Biden version of why this had to happen and play it. 352 00:19:27,520 --> 00:19:31,639 Speaker 1: I just signed this FETO because legislation passed by the 353 00:19:31,720 --> 00:19:35,800 Speaker 1: Congress and put at risk retirement savings of individuals across 354 00:19:35,800 --> 00:19:38,920 Speaker 1: the country. They couldn't take into consideration investments said it 355 00:19:38,920 --> 00:19:44,359 Speaker 1: wouldn't be impacted by climate, impacted by overpaying executives. And 356 00:19:44,440 --> 00:19:47,120 Speaker 1: that's why I decided to veto it. It makes sense 357 00:19:47,160 --> 00:19:49,760 Speaker 1: to veto it. Can I just point out play before 358 00:19:49,800 --> 00:19:51,919 Speaker 1: we get into the substance of this, because this is 359 00:19:51,920 --> 00:19:55,440 Speaker 1: not minor. And for any of you who are who 360 00:19:55,480 --> 00:19:59,400 Speaker 1: are building for retirement or living in retirement right now, 361 00:20:00,080 --> 00:20:02,680 Speaker 1: this kind of rule makes makes a big difference, makes 362 00:20:02,680 --> 00:20:04,679 Speaker 1: a difference to you into your bottom line and your 363 00:20:04,680 --> 00:20:07,720 Speaker 1: ability to pay your bills. But just notice that was 364 00:20:07,760 --> 00:20:10,720 Speaker 1: an official That was an official thing that Biden put 365 00:20:10,760 --> 00:20:14,880 Speaker 1: out there. I mean, he really look, I've been saying 366 00:20:14,880 --> 00:20:18,640 Speaker 1: along he's gonna run again. Biden sounds like somebody who 367 00:20:18,680 --> 00:20:21,840 Speaker 1: really does need to be, you know, taken out with 368 00:20:21,960 --> 00:20:24,720 Speaker 1: a blanket over his knees to go feed the ducks, 369 00:20:24,720 --> 00:20:27,520 Speaker 1: and like needs to be treated very gently. When we 370 00:20:27,640 --> 00:20:32,359 Speaker 1: started this show, what do we say about Biden and 371 00:20:32,640 --> 00:20:36,520 Speaker 1: his age? You go look at George W. Bush, You 372 00:20:36,600 --> 00:20:40,480 Speaker 1: go look at Barack Obama. Look at how much older 373 00:20:40,560 --> 00:20:44,320 Speaker 1: those guys looked when they left the White House, and 374 00:20:44,400 --> 00:20:50,199 Speaker 1: they were relatively young, They were relatively youthful. Whatever you 375 00:20:50,320 --> 00:20:53,119 Speaker 1: think about who the president is in office, the amount 376 00:20:53,119 --> 00:20:58,760 Speaker 1: of weight that he has on his shoulders is immensely aging. 377 00:21:00,080 --> 00:21:04,000 Speaker 1: And so for Joe Biden, who was already frail and unhealthy, 378 00:21:04,240 --> 00:21:07,600 Speaker 1: let's be honest, just based on being seventy eight years old, 379 00:21:08,359 --> 00:21:10,880 Speaker 1: for him to be trying to run for president again 380 00:21:10,880 --> 00:21:14,840 Speaker 1: at eighty two, to go to eighty six is absolutely 381 00:21:15,240 --> 00:21:22,439 Speaker 1: beyond reckless. Now, John Fetterman, where is he buck? I mean, 382 00:21:22,520 --> 00:21:25,560 Speaker 1: they elected him to the Senate and then they almost 383 00:21:25,560 --> 00:21:28,159 Speaker 1: immediately put him in the hospital. And it is a 384 00:21:28,320 --> 00:21:31,200 Speaker 1: months now that he's been unable to do his job. 385 00:21:31,359 --> 00:21:34,760 Speaker 1: Literally from the moment that he was sworn in, he 386 00:21:34,880 --> 00:21:38,160 Speaker 1: basically went into George Washington Hospital and now he's at 387 00:21:38,160 --> 00:21:42,560 Speaker 1: Walter Reid. They don't have a senator from Pennsylvania. How 388 00:21:42,560 --> 00:21:45,320 Speaker 1: long could he be there? He's still there. I think 389 00:21:45,320 --> 00:21:46,760 Speaker 1: they said they hope that he's going to get out 390 00:21:46,760 --> 00:21:48,920 Speaker 1: at some point, but it's like nobody even mentions it. 391 00:21:49,440 --> 00:21:52,400 Speaker 1: That's what they're gonna do with Joe Biden. They are 392 00:21:52,480 --> 00:21:56,520 Speaker 1: going to drag him weekended Bernie's two style, even though 393 00:21:56,520 --> 00:21:58,320 Speaker 1: he doesn't have the ability to do this job. And 394 00:21:58,359 --> 00:22:02,359 Speaker 1: to your point, the signing this thing, he is just 395 00:22:02,720 --> 00:22:07,600 Speaker 1: doing the bidding a far left wing activists. He doesn't 396 00:22:07,640 --> 00:22:10,440 Speaker 1: know what's going on. Twenty years ago, Joe Biden still 397 00:22:10,480 --> 00:22:13,359 Speaker 1: had his fastball. This is the equivalent of getting to 398 00:22:13,359 --> 00:22:16,280 Speaker 1: pitch Game seven of the World Series when you're eighty 399 00:22:16,359 --> 00:22:17,960 Speaker 1: years old. I mean, he doesn't have the adult to 400 00:22:18,000 --> 00:22:20,879 Speaker 1: do it anymore. It almost sounded like we you know 401 00:22:21,000 --> 00:22:25,080 Speaker 1: that that there was really just bad audio quality or something. 402 00:22:25,119 --> 00:22:27,040 Speaker 1: But no, and I'm sorry for our people who are 403 00:22:27,080 --> 00:22:30,080 Speaker 1: listening driving around or listening at home on radios across 404 00:22:30,119 --> 00:22:33,080 Speaker 1: the country. That was just what Joe Biden sounded like. 405 00:22:33,160 --> 00:22:36,119 Speaker 1: I mean, that is your president is now giving public 406 00:22:36,119 --> 00:22:41,879 Speaker 1: pronouncements where he's going hishshure and you're just supposed to 407 00:22:41,920 --> 00:22:43,880 Speaker 1: make sense of it. But here's what has happened. Let's 408 00:22:43,920 --> 00:22:46,080 Speaker 1: let's get into the substances for a second. By the way, 409 00:22:46,119 --> 00:22:48,760 Speaker 1: Annie McCarthy with us in the next hour on the 410 00:22:48,880 --> 00:22:50,840 Speaker 1: possible Trump indictment. Also, we're going to talk to some 411 00:22:51,040 --> 00:22:54,399 Speaker 1: Trump desantists a little bit of sparring. It's open up 412 00:22:54,400 --> 00:22:56,680 Speaker 1: a little bit. The fighters are starting to take some swings. 413 00:22:56,680 --> 00:22:59,239 Speaker 1: We'll talk about that here in a moment. But Biden, here, 414 00:22:59,359 --> 00:23:01,959 Speaker 1: here's what has happened, and here's why it matters to you. 415 00:23:02,400 --> 00:23:08,919 Speaker 1: So Biden has vetoed a resolution employed by the Congression 416 00:23:08,960 --> 00:23:11,840 Speaker 1: Review Act that has to do with a Labor Department 417 00:23:12,040 --> 00:23:18,240 Speaker 1: rule protecting pension funds based on ESG criteria or Environmental, 418 00:23:18,320 --> 00:23:23,119 Speaker 1: Social and governance. Essentially, there is a rule that is 419 00:23:23,160 --> 00:23:27,640 Speaker 1: supposed to protect people from having their fund managers, particularly 420 00:23:27,640 --> 00:23:32,359 Speaker 1: they're retirement fund managers, think about anything other than all 421 00:23:32,400 --> 00:23:34,679 Speaker 1: they are allowed to think about. Okay, all they are 422 00:23:34,720 --> 00:23:37,639 Speaker 1: allowed to think about is what gets you the best 423 00:23:37,720 --> 00:23:41,239 Speaker 1: return with your money? Yes, and I guarantee you if 424 00:23:41,240 --> 00:23:43,560 Speaker 1: we pull this audience right now, people close to or 425 00:23:43,640 --> 00:23:48,240 Speaker 1: in retirement, one hundred percent of them would say, that's 426 00:23:48,280 --> 00:23:50,760 Speaker 1: what matters to be the most about where my retirement 427 00:23:50,760 --> 00:23:54,199 Speaker 1: funds are being allocated. The fools that should matter bluck, Like, 428 00:23:54,240 --> 00:23:57,760 Speaker 1: I don't care about anything other than can you maximize 429 00:23:57,760 --> 00:24:00,399 Speaker 1: my returns in a legal basis that's my and so 430 00:24:00,560 --> 00:24:04,160 Speaker 1: on every investment. So this was bipartisan. By the way, 431 00:24:04,240 --> 00:24:07,399 Speaker 1: this was bipartisan. The House passed the resolution two hundred 432 00:24:07,440 --> 00:24:09,480 Speaker 1: sixty to two hundred and four with am with one 433 00:24:09,560 --> 00:24:13,399 Speaker 1: Democrat in support, and it passed the Democratic run Senate 434 00:24:13,520 --> 00:24:19,680 Speaker 1: fifty forty six. Pester manon Mansion also went along with it. 435 00:24:20,119 --> 00:24:22,879 Speaker 1: So this is really it because Democrat senator is up 436 00:24:22,880 --> 00:24:24,560 Speaker 1: for re election like whoa, whoa, we don't want to 437 00:24:24,600 --> 00:24:27,919 Speaker 1: hurt your retirement because they know retirees vote yea. And 438 00:24:28,320 --> 00:24:31,600 Speaker 1: what this does for everybody is Biden wants to put 439 00:24:31,880 --> 00:24:35,600 Speaker 1: he deployed the veto so that your four oh one 440 00:24:35,760 --> 00:24:40,040 Speaker 1: K manager can say, oh, I don't want to invest 441 00:24:40,280 --> 00:24:42,239 Speaker 1: in this port you know, I don't want to move 442 00:24:42,280 --> 00:24:46,760 Speaker 1: the portfolio money into into this equity or this mutual funder, 443 00:24:46,880 --> 00:24:50,480 Speaker 1: whatever it may be, into this investment because it has 444 00:24:50,480 --> 00:24:52,800 Speaker 1: to do with oil and gas, or because it touches 445 00:24:52,800 --> 00:24:54,680 Speaker 1: on something I'll like. What I'm gonna do is I'm 446 00:24:54,680 --> 00:24:58,040 Speaker 1: going to invest in more green energy, green tech, more 447 00:24:58,359 --> 00:25:03,960 Speaker 1: social justice focused investments. And even if the returns are 448 00:25:04,040 --> 00:25:08,080 Speaker 1: demonstrably less. So instead of doing what they should have 449 00:25:08,160 --> 00:25:11,919 Speaker 1: done with your money to get you six percent, eight percent, whatever, 450 00:25:12,600 --> 00:25:15,640 Speaker 1: they get you two percent, they get you negative five percent. 451 00:25:16,359 --> 00:25:20,680 Speaker 1: You can't sue them anymore for being idiots because hey, man, 452 00:25:20,960 --> 00:25:26,800 Speaker 1: they were investing based on environment, social and governance criteria. 453 00:25:26,920 --> 00:25:31,160 Speaker 1: Environmental EESG. That's what Biden wants. You get less money 454 00:25:31,160 --> 00:25:36,959 Speaker 1: in retirement because of social justice. There you go. And 455 00:25:37,240 --> 00:25:42,919 Speaker 1: unfortunately this I really believe Biden doesn't have any clue 456 00:25:43,320 --> 00:25:46,520 Speaker 1: by and large what he's doing now. And I've thought 457 00:25:46,520 --> 00:25:51,240 Speaker 1: that for many years now. Unfortunately, but Buck last year, 458 00:25:51,800 --> 00:25:53,959 Speaker 1: right at the end of the year, when he had 459 00:25:54,080 --> 00:25:57,760 Speaker 1: all of those transgender people in the White House to 460 00:25:57,800 --> 00:26:02,159 Speaker 1: interview him, including I saw where Kamala Harris congratulated this 461 00:26:02,280 --> 00:26:05,480 Speaker 1: random TikTok influencer on being a woman for three hundred 462 00:26:05,480 --> 00:26:09,400 Speaker 1: and sixty five days or whatever it is. There's no 463 00:26:09,440 --> 00:26:12,760 Speaker 1: way that eighty year old Joe Biden. Although I did 464 00:26:12,760 --> 00:26:14,600 Speaker 1: see while I was gone, I did see this headline 465 00:26:14,600 --> 00:26:17,400 Speaker 1: Buck Biden claiming that he's been four gay marriage since 466 00:26:17,480 --> 00:26:20,320 Speaker 1: like nineteen fifty nine. I mean, that is one of 467 00:26:20,320 --> 00:26:22,280 Speaker 1: you all, Like whatever it was he saw somebody when 468 00:26:22,280 --> 00:26:24,320 Speaker 1: he's a senior in high school, two well dressed men, 469 00:26:24,359 --> 00:26:26,920 Speaker 1: and he's known since that point that he believed that 470 00:26:27,080 --> 00:26:29,240 Speaker 1: gay marriage should be permitted. I mean, the amount of 471 00:26:29,280 --> 00:26:32,879 Speaker 1: lies that this guy's tells are staggering. But also I 472 00:26:32,880 --> 00:26:37,520 Speaker 1: don't think he even conceptually and fundamentally understands enough. The 473 00:26:37,600 --> 00:26:40,280 Speaker 1: dementia is often factoring in here. I'm not sure it's 474 00:26:40,280 --> 00:26:44,000 Speaker 1: a direct lie anymore. And that's what they're gonna do. 475 00:26:44,520 --> 00:26:47,159 Speaker 1: They're gonna fetterman this guy. They're going to drag him 476 00:26:47,160 --> 00:26:49,119 Speaker 1: across the finish the line. He won't be able to 477 00:26:49,160 --> 00:26:51,760 Speaker 1: do the job, but they don't care. I don't care 478 00:26:51,760 --> 00:26:57,280 Speaker 1: at all. Remember the end of the movie, Elle sid 479 00:26:58,200 --> 00:27:02,000 Speaker 1: about the spa ish hero and I think it was 480 00:27:02,040 --> 00:27:06,000 Speaker 1: the eleventh century in the ray Kunquista against I'm gonna 481 00:27:06,080 --> 00:27:08,480 Speaker 1: I'm gonna toss it out there. Very few people remember 482 00:27:08,560 --> 00:27:11,119 Speaker 1: this movie and certainly remember the end of this movie. 483 00:27:11,200 --> 00:27:14,720 Speaker 1: Maybe one percent of one percent of our audience. I 484 00:27:14,760 --> 00:27:16,840 Speaker 1: didn't say I remember the end. Remember the end of 485 00:27:16,920 --> 00:27:20,159 Speaker 1: Star Wars remember the end of Indiana Jones. People out 486 00:27:20,200 --> 00:27:22,080 Speaker 1: there be like, yeah, I kind of remember what was 487 00:27:22,119 --> 00:27:26,080 Speaker 1: the movie you just referenced El sid Excuse me, excuse me, sir. 488 00:27:26,440 --> 00:27:30,840 Speaker 1: It is film. We had the controversy over nobody knowing 489 00:27:30,880 --> 00:27:33,879 Speaker 1: Morgan Wallen. If anybody else on our team knows the 490 00:27:34,000 --> 00:27:35,800 Speaker 1: ending of El Sid I think they got to be 491 00:27:35,800 --> 00:27:37,879 Speaker 1: fired on the spot because if they don't know Morgan 492 00:27:37,920 --> 00:27:39,960 Speaker 1: and Wallen and they know El Sid, I just I 493 00:27:40,000 --> 00:27:41,720 Speaker 1: don't know what's going on in this world. No, I 494 00:27:41,720 --> 00:27:45,520 Speaker 1: don't remember my medieval history. Nerds out there, where are 495 00:27:45,560 --> 00:27:47,200 Speaker 1: you at on this one? You know what I'm talking about. 496 00:27:47,240 --> 00:27:48,720 Speaker 1: But at the end of El Sid, and this is 497 00:27:48,720 --> 00:27:53,560 Speaker 1: based on the legend, they put this this Spanish general 498 00:27:53,800 --> 00:27:59,760 Speaker 1: on horseback even though he was deceased, and the idea 499 00:27:59,880 --> 00:28:03,760 Speaker 1: was that he rode out and was able to and 500 00:28:03,960 --> 00:28:06,800 Speaker 1: scared the enemy away just because he was such a 501 00:28:06,840 --> 00:28:10,720 Speaker 1: fear a fear general. Right. So basically, Weekend did Bernie's 502 00:28:10,720 --> 00:28:12,920 Speaker 1: for the medieval This is what I'm saying. We get it. 503 00:28:12,960 --> 00:28:17,160 Speaker 1: Bernie's for medieval Timesakend Bernie's. I don't think El sid 504 00:28:17,280 --> 00:28:19,440 Speaker 1: Is really is really on the top of most people. 505 00:28:19,720 --> 00:28:23,000 Speaker 1: We brought it. We brought it full circle here. Okay, 506 00:28:23,040 --> 00:28:25,480 Speaker 1: we brought it full circle and now everyone knows exactly 507 00:28:25,520 --> 00:28:28,479 Speaker 1: what I'm talking about. But to bolster the morale of troops, 508 00:28:28,480 --> 00:28:30,360 Speaker 1: they put him on the back of his of his 509 00:28:30,400 --> 00:28:35,640 Speaker 1: horse and they had a big charge. Um. So yeah, anyway, 510 00:28:35,680 --> 00:28:39,000 Speaker 1: that's that's a part of Spanish ric on Quista history 511 00:28:39,600 --> 00:28:42,560 Speaker 1: and we'll leave it there on that. I gotta switch 512 00:28:42,600 --> 00:28:44,160 Speaker 1: gears for a second. Talk to you about something that 513 00:28:44,320 --> 00:28:49,280 Speaker 1: is really really important. Look, um, human life. We got 514 00:28:49,280 --> 00:28:52,880 Speaker 1: to protect it wherever we can. Preborn Network clinics have 515 00:28:53,000 --> 00:28:56,360 Speaker 1: been focusing on the lives of unborn children for seventeen 516 00:28:56,440 --> 00:28:59,400 Speaker 1: years now. They've rescued over two hundred thousand babies lives 517 00:28:59,720 --> 00:29:03,320 Speaker 1: by loving mothers with unplanned pregnancies and introducing them to 518 00:29:03,360 --> 00:29:07,320 Speaker 1: their precious life growing inside them through an ultrasound. In 519 00:29:07,360 --> 00:29:09,239 Speaker 1: a day and age when something commonly referred to as 520 00:29:09,240 --> 00:29:12,040 Speaker 1: the abortion pill is responsible for nearly half of abortions, 521 00:29:12,240 --> 00:29:14,960 Speaker 1: Preborn is working harder than ever to welcome pregnant mothers 522 00:29:15,120 --> 00:29:17,960 Speaker 1: with an alternative for their unborn child. Often, when that 523 00:29:18,000 --> 00:29:20,400 Speaker 1: mother hears the heartbeat, a majority of the time, she 524 00:29:20,600 --> 00:29:23,280 Speaker 1: will choose life for that precious baby in her womb. 525 00:29:23,680 --> 00:29:26,800 Speaker 1: Without the ultrasound, the odds are not in favor. The 526 00:29:26,960 --> 00:29:31,240 Speaker 1: ultrasound is statistically a game changer in favor of life. 527 00:29:31,640 --> 00:29:35,080 Speaker 1: But preborn is dependent on our donations. You and me 528 00:29:35,600 --> 00:29:37,840 Speaker 1: and so many of you have responded already with such 529 00:29:37,920 --> 00:29:42,120 Speaker 1: kindness and generosity. One ultrasound for those who can, is 530 00:29:42,160 --> 00:29:45,440 Speaker 1: just twenty eight dollars. That's what it would cost. Every 531 00:29:45,480 --> 00:29:49,560 Speaker 1: tax deductible donation, big or small, helps to save the unborn. 532 00:29:49,840 --> 00:29:53,040 Speaker 1: Preborn receives no government funding and is completely dependent on us, 533 00:29:53,080 --> 00:29:56,200 Speaker 1: the pro life community. For just twenty eight dollars, you 534 00:29:56,200 --> 00:29:58,920 Speaker 1: can help save a life. To donate, use your cell 535 00:29:58,920 --> 00:30:01,880 Speaker 1: phone dial POS two fifty and say the keyword baby. 536 00:30:02,240 --> 00:30:05,560 Speaker 1: That's pound two fifty. Say baby, We're going to preborn 537 00:30:05,680 --> 00:30:08,840 Speaker 1: dot com slash buck that's preborn dot com slash b 538 00:30:09,120 --> 00:30:13,480 Speaker 1: u c K sponsored by Preborn. You don't know what. 539 00:30:13,800 --> 00:30:17,440 Speaker 1: You don't know right, but you should. On the Sunday 540 00:30:17,520 --> 00:30:29,160 Speaker 1: Hang with glayon Buck podcast, Welcome back in Glay Travis 541 00:30:29,240 --> 00:30:33,480 Speaker 1: Buck Sexton show, our good friend Karine Jean Pierre. I 542 00:30:33,520 --> 00:30:35,240 Speaker 1: wanted to make sure we played this for those of 543 00:30:35,280 --> 00:30:39,040 Speaker 1: you who missed it yesterday. In the White House. They 544 00:30:39,080 --> 00:30:44,240 Speaker 1: had the cast of Oh, what's the the soccer Apple 545 00:30:44,320 --> 00:30:48,840 Speaker 1: show that everybody's watching about the American college football coach 546 00:30:48,880 --> 00:30:52,920 Speaker 1: who goes over to England and becomes a premier league coach. 547 00:30:53,960 --> 00:30:57,320 Speaker 1: They had that whole crew all visiting the White House 548 00:30:58,520 --> 00:31:02,400 Speaker 1: and they're all standing around and everybody's like kind of 549 00:31:02,440 --> 00:31:07,200 Speaker 1: losing their losing their minds over over that show. And 550 00:31:07,600 --> 00:31:11,880 Speaker 1: simultaneously we had people start to ask questions get upset 551 00:31:11,920 --> 00:31:14,800 Speaker 1: that they're not getting called on. And this was Today 552 00:31:14,920 --> 00:31:20,080 Speaker 1: News Africa. Simon Atiba. He had a heated exchange during 553 00:31:20,200 --> 00:31:24,120 Speaker 1: opening statements with the ted Lasso cast. Um, listen to this. 554 00:31:24,360 --> 00:31:26,080 Speaker 1: No no, no, no, no no, that's not we're not 555 00:31:26,120 --> 00:31:28,360 Speaker 1: doing this. We're not doing this. We're not doing this. 556 00:31:28,680 --> 00:31:40,760 Speaker 1: We're not doing this against and I'm saying we're starting 557 00:31:40,800 --> 00:31:57,360 Speaker 1: with Okay, he's been seven months, fun times, welcome guys, 558 00:31:57,480 --> 00:32:00,360 Speaker 1: let it go. Seven months he had been hold on 559 00:32:00,440 --> 00:32:07,080 Speaker 1: buck while many folks. Sorry to our guest, We agize, 560 00:32:07,320 --> 00:32:12,640 Speaker 1: I apologize, apologies, ted Lasso cast Oh okay, notice all 561 00:32:12,680 --> 00:32:15,800 Speaker 1: the journals this this this is man is a is 562 00:32:15,800 --> 00:32:17,959 Speaker 1: a journalist who's been there for seven months, hasn't been 563 00:32:18,000 --> 00:32:22,640 Speaker 1: called on once Okay, he's African and all the journals 564 00:32:22,640 --> 00:32:25,680 Speaker 1: in the room. Uh. If it wasn't the Biden administration 565 00:32:25,760 --> 00:32:28,080 Speaker 1: up there, I can assure you would not have been 566 00:32:28,080 --> 00:32:33,160 Speaker 1: basically telling him shut up, stopped talking and apologizing for 567 00:32:33,280 --> 00:32:35,720 Speaker 1: him wanting to actually be able to do his job. 568 00:32:35,840 --> 00:32:38,600 Speaker 1: I you know, I stand with Simon Atiba. This guy 569 00:32:38,680 --> 00:32:41,600 Speaker 1: is awesome. I think what he did yesterday was fantastic. Well, 570 00:32:41,640 --> 00:32:47,040 Speaker 1: also then they apologized, because these are just such bootlicking losers. 571 00:32:47,560 --> 00:32:51,880 Speaker 1: This is Zeke Miller at the ap apologizing to Karine, 572 00:32:51,920 --> 00:32:55,680 Speaker 1: Jean Pierre and America for the White House outburst you 573 00:32:55,760 --> 00:33:03,120 Speaker 1: just heardments our apologies the press corp to folks watching 574 00:33:03,120 --> 00:33:06,960 Speaker 1: at home in space earlier. Our responsibility is to them 575 00:33:07,240 --> 00:33:09,440 Speaker 1: to hear, to ask questions on there, to hold their 576 00:33:09,480 --> 00:33:13,920 Speaker 1: government accountable that they can't all be here. This isn't 577 00:33:13,920 --> 00:33:17,040 Speaker 1: about us. Oh I hate that guy. I don't even 578 00:33:17,080 --> 00:33:20,440 Speaker 1: know who he is, but I what a loser that 579 00:33:20,480 --> 00:33:23,800 Speaker 1: guy is. Oh, I'm sorry, Like no teacher, do you 580 00:33:23,800 --> 00:33:25,800 Speaker 1: know what the substitute was here? We didn't have to 581 00:33:25,840 --> 00:33:27,880 Speaker 1: do the work that you otherwise would have assigned. I 582 00:33:27,920 --> 00:33:30,560 Speaker 1: would like to apologize on behalf of the whole class 583 00:33:31,440 --> 00:33:35,560 Speaker 1: what the press corps. I remember, you know Kaylee mckinnan. 584 00:33:35,680 --> 00:33:37,440 Speaker 1: He's a friend of mine and she was a phenomenal 585 00:33:37,440 --> 00:33:40,760 Speaker 1: press secretary under Trump, and I mean I remember they were. 586 00:33:40,880 --> 00:33:45,080 Speaker 1: It was just, you know, just going attack every day, 587 00:33:45,200 --> 00:33:49,320 Speaker 1: attack attack, attack. Oh but but now somebody who has 588 00:33:49,440 --> 00:33:51,280 Speaker 1: no one by the way, denies what he says that 589 00:33:51,320 --> 00:33:53,480 Speaker 1: he hasn't been called on in seven months is a 590 00:33:53,520 --> 00:33:56,680 Speaker 1: long time press. If he had said it had been 591 00:33:56,680 --> 00:33:58,000 Speaker 1: a week and he hadn't been called on, I'd be like, 592 00:33:58,040 --> 00:33:59,280 Speaker 1: all right, Like there's a lot of people there, it's 593 00:33:59,320 --> 00:34:02,560 Speaker 1: been seven months. Clearly they're not given this gentleman his due. 594 00:34:03,160 --> 00:34:05,960 Speaker 1: And all the press were, oh, we're sorry, we have 595 00:34:06,040 --> 00:34:08,319 Speaker 1: such a we do such a better job, and here 596 00:34:08,360 --> 00:34:11,880 Speaker 1: than that a bunch of babies. Also, is there anything 597 00:34:12,000 --> 00:34:15,439 Speaker 1: more to draw attention to yourself than to say we're 598 00:34:15,480 --> 00:34:18,160 Speaker 1: not here for ourselves to draw it, Simon at Ba 599 00:34:18,280 --> 00:34:20,680 Speaker 1: or whatever the guys, and that's the maybe the conflict guy. 600 00:34:20,680 --> 00:34:22,279 Speaker 1: I want to make sure I get this guy's name right, 601 00:34:22,360 --> 00:34:24,920 Speaker 1: Zeke Miller. I'm Zeke Miller. I'm not really here to 602 00:34:25,000 --> 00:34:28,120 Speaker 1: draw attention to myself, Zeke Miller. Ap. But you know, 603 00:34:28,280 --> 00:34:30,239 Speaker 1: on behalf of Zeke Miller. AP. I just want to 604 00:34:30,239 --> 00:34:32,279 Speaker 1: apologize to the American people. We're here to do the 605 00:34:32,280 --> 00:34:34,640 Speaker 1: work for you, to ask the questions that you aren't 606 00:34:34,640 --> 00:34:37,480 Speaker 1: able to know. You're not you're not asking any questions 607 00:34:37,480 --> 00:34:40,160 Speaker 1: that I would like to have asked. I mean, just 608 00:34:40,239 --> 00:34:43,680 Speaker 1: what a loser that guy is. I don't know anything 609 00:34:43,719 --> 00:34:47,520 Speaker 1: about Zeke Miller other than he is a tremendous, massive loser, 610 00:34:48,160 --> 00:34:52,480 Speaker 1: just based on that twenty second clip. Also, when was 611 00:34:52,480 --> 00:34:56,920 Speaker 1: the last time anyone in the It's interesting actually because 612 00:34:56,920 --> 00:34:58,799 Speaker 1: while we point out, you know, a lot people will 613 00:34:58,840 --> 00:35:06,120 Speaker 1: say that Karine Jean Pierre is not excellent at the 614 00:35:06,280 --> 00:35:11,160 Speaker 1: job based on even by low standards set by Biden 615 00:35:11,160 --> 00:35:15,080 Speaker 1: administration employees. There you go, and while that's happening, it's 616 00:35:15,120 --> 00:35:19,200 Speaker 1: interesting because that's so obvious to many people outside of 617 00:35:19,239 --> 00:35:23,160 Speaker 1: the you know, the the Democrat Party. But you'll you'll 618 00:35:23,200 --> 00:35:25,640 Speaker 1: see that the strategy of putting her in that role 619 00:35:25,760 --> 00:35:30,760 Speaker 1: has worked very well because not only is it friendly, 620 00:35:30,920 --> 00:35:33,760 Speaker 1: you know, it's regime media on the audience and media 621 00:35:33,840 --> 00:35:37,359 Speaker 1: at the podium with the White House Press secretary, same thing, right, 622 00:35:37,480 --> 00:35:39,480 Speaker 1: there's not really an in difference with the two of them. 623 00:35:39,560 --> 00:35:43,799 Speaker 1: But beyond that, beyond that, I think that a lot 624 00:35:43,880 --> 00:35:47,800 Speaker 1: of the members of that press corps are legitimately fearful 625 00:35:48,040 --> 00:35:53,000 Speaker 1: of their careers. If they were to ask any tough 626 00:35:53,400 --> 00:36:01,120 Speaker 1: questions and push on the first black female LGPTQUS White 627 00:36:01,120 --> 00:36:04,719 Speaker 1: House Press secretary, they just the the optics of that 628 00:36:04,840 --> 00:36:08,799 Speaker 1: for those Democrats in the audience are such that, you know, look, 629 00:36:08,840 --> 00:36:11,000 Speaker 1: there there've been There have been CNN people during the 630 00:36:11,000 --> 00:36:15,040 Speaker 1: Obama administration, for example, who made a career for themselves 631 00:36:15,040 --> 00:36:18,439 Speaker 1: by asking one real question like every three or four, 632 00:36:18,480 --> 00:36:20,239 Speaker 1: but like they would actually kind of because it was 633 00:36:20,320 --> 00:36:22,520 Speaker 1: good for them and it wasn't going to really undermine 634 00:36:22,560 --> 00:36:25,480 Speaker 1: the regime and everyone kind of knew the game, right CNN, ABC, 635 00:36:25,719 --> 00:36:28,400 Speaker 1: some of those reporters would do that. When was the 636 00:36:28,480 --> 00:36:31,759 Speaker 1: last time you saw someone who wasn't you know, from 637 00:36:31,840 --> 00:36:35,160 Speaker 1: Fox or from a the best job by far other 638 00:36:35,200 --> 00:36:37,640 Speaker 1: than him. It's almost impossible to name someone. I can't 639 00:36:37,680 --> 00:36:40,680 Speaker 1: think of anybody who has pressed on this White House 640 00:36:40,680 --> 00:36:43,480 Speaker 1: Press Secretary in a in a real way, and I 641 00:36:43,560 --> 00:36:47,280 Speaker 1: was really pressed for on an issue from Democrat media. 642 00:36:47,440 --> 00:36:49,840 Speaker 1: I can't think of one. I mean, maybe I'm missing something, 643 00:36:49,920 --> 00:36:52,080 Speaker 1: but not really. No, you're one hundred percent right, because 644 00:36:52,120 --> 00:36:54,480 Speaker 1: that's how you lose your job. Remember the woman at 645 00:36:54,600 --> 00:36:58,200 Speaker 1: MSNBC who asked the questions of John Fetterman and veteran 646 00:36:58,480 --> 00:37:00,239 Speaker 1: she was like, he can't even speak, I mean know, 647 00:37:00,239 --> 00:37:02,680 Speaker 1: he didn't know very well. He just initially told the truth, 648 00:37:02,719 --> 00:37:06,480 Speaker 1: and they attacked her. All the journals circle the wagons 649 00:37:06,880 --> 00:37:09,440 Speaker 1: and they were basically saying about the quiet part out loud, 650 00:37:09,719 --> 00:37:11,960 Speaker 1: how dare you don't you know we have to win 651 00:37:12,040 --> 00:37:14,799 Speaker 1: this Senate Chief for the Democrats. This whole journalism thing 652 00:37:14,880 --> 00:37:18,000 Speaker 1: is a scam. We all know that. And now where's 653 00:37:18,080 --> 00:37:25,759 Speaker 1: John Fetterman. He's in treatmanish. Yeah. Slaet Travis and Buck 654 00:37:25,800 --> 00:37:29,040 Speaker 1: Sexton on the front lines of truth.