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Speaker 1: Welcome back in to Clay and Buck. Trump right now

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Speaker 1: is in Michigan. He's going to be giving a speech

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Speaker 1: in Detroit, Motor City. That's right, right, it's MotorCity, Yeah

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Speaker 1: it is. Yeah, my wife's hometown. She's up there right now.

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Speaker 1: I wish I could speak to it with tremendous fondness.

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Speaker 1: But I have never been to Detroit, Clay, so I

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Speaker 1: should probably go check that place out. Never been in

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Speaker 1: the city of Detroit before, so I'm gonna I'm gonna

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Speaker 1: go see I might bust out my rhymes.

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Speaker 2: Maybe better to put on the target list, especially in

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Speaker 2: the summer. But I've spent a lot of time in Detroit.

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Speaker 2: It's a better city than I think it gets credit for.

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Speaker 1: This is like what I said about Chicago, Carrie and

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Speaker 1: I my first ever time in Chicago. I went in

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Speaker 1: May and it was seventy five degrees and crystal clear

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Speaker 1: skies and everything was fantastic. And I'm like, I think

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Speaker 1: I did it, Like I don't know. I don't need

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Speaker 1: to go back to Chicago in January. Now, I had

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Speaker 1: perfect Chicago in May. So maybe I'll go to Detroit

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Speaker 1: this summer. But Trump is there right now, and he's

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Speaker 1: hoping to get the American people, and obviously his administration

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Speaker 1: is very much focused on the economy, and there are

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Speaker 1: some challenges going into this. Of course, there's always going

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Speaker 1: to be economic challenge. No one's ever going to be

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Speaker 1: This is one thing I just want to say, Clay,

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Speaker 1: no one's ever gonna wake up be like, you know,

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Speaker 1: what's perfect the American economy. I mean, you can be

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Speaker 1: grateful for the fact that America does have the best

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Speaker 1: most dynamic wealth generation machinery for any nation state, for

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Speaker 1: any political entity in the history of the world, and like,

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Speaker 1: we should remember that. But there's always going to be

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Speaker 1: things that you want to change that aren't working right.

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Speaker 1: There's always going to be problems. Okay, that's why we

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Speaker 1: have a government that has to handle these things. They

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Speaker 1: don't do a good job, but at least theoretically that's

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Speaker 1: what they're supposed to be doing. I think Trump is, though,

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Speaker 1: doing on the economy a good job. I think he

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Speaker 1: knows that it's absolutely critical for the American people and

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Speaker 1: also for the upcoming mid terms because his agenda becomes, uh,

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Speaker 1: let's just say, a lot harder to implement if they

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Speaker 1: lose control of the House. Of Representatives, they will impeach

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Speaker 1: Trump a third I don't even think you and I

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Speaker 1: can have a bet on this one. Right, you agree

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Speaker 1: they're gonna peach Trump a third time if they win

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Speaker 1: the House, right you you agree with that, are gonna

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Speaker 1: one hundred percent they're going to impeach him. And uh, look,

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Speaker 1: I just wish they would just do it and not

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Speaker 1: even tell us why, Like we're just impeaching him because

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Speaker 1: he's so awful. I just feel like the.

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Speaker 2: Whole concept of impeachment if you don't have any pathway

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Speaker 2: to sixty seven votes, which I don't think by and

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Speaker 2: large there will be in any of the lives of

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Speaker 2: any of the people listening right now, then all of

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Speaker 2: it's just a big sham and a big side show.

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Speaker 2: Two were Yeah, it's just non impactful. It's like a

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Speaker 2: like a vote of censure or something. It's it's sending Trump.

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Speaker 2: It's it's the congressional majority sending Trump a strongly awarded

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Speaker 2: letter that he will not care about one bit. But anyway,

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Speaker 2: I think that on the on the EC, I mean,

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Speaker 2: we all know that affordability is a is a big challenge,

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Speaker 2: and you know there's some polling out there that says

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Speaker 2: that he's at a rough spot right now with the economy. Now,

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Speaker 2: it's interesting you look at what the things are that

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Speaker 2: he could do. You and I haven't discussed this yet,

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Speaker 2: capping credit card interest rates at ten percent. I'm I'm

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Speaker 2: of I'm of a I'm of a few minds on this,

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Speaker 2: I would say, and I want to hear what you.

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Speaker 1: Clay and I haven't pre we haven't. Sometimes we're like

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Speaker 1: texting our ideas back and forth about things. So I'm

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Speaker 1: just going in on this cold. On the one hand,

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Speaker 1: I think credit card companies have had far too much

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Speaker 1: lobbying power. They've had Joe Biden doing their bidding in Delaware,

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Speaker 1: for example, for longer than I've been alive. The fact

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Speaker 1: that they can charge a thirty percent Oh all right, Well,

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Speaker 1: we're gonna have to put a little pin in our

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Speaker 1: credit card discussion. We're going to come back to it,

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Speaker 1: all right, claik. We make a promise, we'll come back

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Speaker 1: to it. We will return I job we have, we

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Speaker 1: have esteemed esteemed caller has joined US. Senator Ted Cruz

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Speaker 1: of the Great State of Texas. Senator, it's been a while,

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Speaker 1: Happy twenty twenty six, how you doing.

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Speaker 3: I am doing fabulous and you'll appreciate it. I'm doing

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Speaker 3: particularly well because I enjoyed last night the Texans whipping

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Speaker 3: the Steelers. Ass That just brought great joy to meout

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Speaker 3: was the beat down. It vindicated as a little kid

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Speaker 3: growing up in the seventies in Houston. The seventy nine

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Speaker 3: and eighty AFC Championships are still wounds that have not healed.

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Speaker 3: As the greatest Oilers team we ever had with Earl

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Speaker 3: Kank Campbell crashed into the Pittsburgh Steelers, so I feel

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Speaker 3: like we got a modicum of justice and revenge for

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Speaker 3: a decades old wound.

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Speaker 1: Well as I know, we have a massive Houston audience

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Speaker 1: and are number one consistently in the slot Senator cruise.

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Speaker 1: Whatever the people of Houston root for, I root for.

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Speaker 1: This is my So if it's the Texans, I'm on board.

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Speaker 1: Talk to us if you would, on the serious side

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Speaker 1: of things, versa. Actually, can I get you? Can you?

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Speaker 1: It's a longer discussion. I want to ask you about it.

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Speaker 1: Ron Obviously, I know you're gonna have a lot on that,

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Speaker 1: and I'm getting people right reaching out to me saying

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Speaker 1: family members, friends of mine, whoever, either themselves, or they

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Speaker 1: have friends or family who are in Iran are desperate

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Speaker 1: for some kind of help. They full up what. We'll

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Speaker 1: get to that in one second. It's a smaller thing,

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Speaker 1: but affordability is a huge thing. The credit card ten

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Speaker 1: percent cap, what do you make of that center? Do

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Speaker 1: you take a very straightforward approach to finances in the

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Speaker 1: American people's budgets.

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Speaker 3: Look, we've tried that approach in the past. Both Nixon

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Speaker 3: and Carter tried to approach very similar and it didn't work.

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Speaker 3: When you cap prices, what you end up doing is

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Speaker 3: you exclude a whole bunch of people from the market. So,

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Speaker 3: you know what, if you're rich, if you have great credit,

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Speaker 3: a cap at ten percent does not limit your ability

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Speaker 3: to get credit because you've got good enough credit that frankly,

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Speaker 3: you're not paying ten percent anyway. The people that will

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Speaker 3: get hurt by a ten percent camp are people who

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Speaker 3: are low income, people who are struggling to get credit,

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Speaker 3: people who have bad people who have a record of defaults.

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Speaker 3: And if you cap it at ten percent, what it's

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Speaker 3: going to mean is they're not going to be able

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Speaker 3: to get any credit cards at all. Basically, you're taking

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Speaker 3: away credit cards from every person for whom the credit

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Speaker 3: risk is greater than a ten percent rate justifies. And

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Speaker 3: look it, you know, for many people, if you've got

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Speaker 3: a higher interest credit card, you're doing that because you've

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Speaker 3: got bills. Maybe you've got to pay rent, maybe you've

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Speaker 3: got to pay pay by groceries that week, maybe you've

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Speaker 3: got to pay for you know, your kid to get braces.

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Speaker 3: And if you can't get a credit card, it will

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Speaker 3: drive every one of those people to an even worse

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Speaker 3: credit option, whether it is a payday loan or or

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Speaker 3: whether it's a loan shark down the street. And so

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Speaker 3: I think the law of unintended consequences is really quite

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Speaker 3: significant here, and I think there are a lot of

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Speaker 3: downside risks.

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Speaker 2: Okay, let's go into Iran and what's going on in

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Speaker 2: the country right now. President Trump earlier today had a

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Speaker 2: very aggressive statement that he made, and I see Ambassador

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Speaker 2: Mike Waltz just tweeted in the last little bit, the

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Speaker 2: Iranian people are chanting death to Kamanee rather than death

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Speaker 2: to America. Freedom is in the air thanks to President

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Speaker 2: Trump's leadership. If President Trump called you and he may

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Speaker 2: well do it and said what should I do? What

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Speaker 2: is the appropriate tack to establish here right now? What

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Speaker 2: would you tell him?

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Speaker 3: Well, listen, I think what the president is doing right

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Speaker 3: now is exactly right. We are at a moment of history,

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Speaker 3: an incredibly consequential moment. I think there's a very real

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Speaker 3: possibility that in the next ninety days we will see

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Speaker 3: but the regime in Iran fall, and I think we

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Speaker 3: could see the regime in Cuba fall. Those two together,

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Speaker 3: if both oppressive dictatorships fell, would utterly transform the geopolitical

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Speaker 3: frame worldwide. We are seeing millions of people standing up

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Speaker 3: against the Ayatola Kameni, and I think we could see

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Speaker 3: that that regime fall within weeks and even days, or

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Speaker 3: even hours. It could fall today. It is that precarious.

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Speaker 3: And I got to tell you, Clay, the reason for that.

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Speaker 3: Let's go back a few months ago to the Twelve

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Speaker 3: Day War. One of the things I said at the

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Speaker 3: time is that I predicted that the regime I believe

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Speaker 3: would likely fall as a consequence of that, because there

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Speaker 3: are real world consequences to losing a war. Losing a

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Speaker 3: war is not just a communications problem. It's not just

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Speaker 3: a messaging problem. It is reality that in the Twelve

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Speaker 3: Day War, Iran utterly and completely lost. They were decimated.

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Speaker 3: And if you're an Islamist dictator, if there is anything

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Speaker 3: possibly worse than losing a war, it is losing a

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Speaker 3: war to Israel. And dictatorships remain in power by convincing

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Speaker 3: their people that they cannot be defeated, that they are omnipotent.

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Speaker 3: And the crushing defeat in the Twelve Day War destroyed

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Speaker 3: that false image. It showed to the people of Iran

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Speaker 3: that the dictatorship is a paper tiger. And I think

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Speaker 3: we are seeing incredible heroes and patriots standing up. There

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Speaker 3: was one young woman a couple of days ago who

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Speaker 3: was lighting her cigarette by lighting on fire a picture

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Speaker 3: of the Iahtola and using that to light her cigarette.

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Speaker 3: That is incredible courage, because understand if the Iatola remains

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Speaker 3: in power, they are likely to find her, to hunt

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Speaker 3: her down and to torture and kill her. She knows

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Speaker 3: exactly what she's doing and she is very literally risking

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Speaker 3: her life to try to seek freedom. And so you know, Clay,

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Speaker 3: you tweeted a couple of days ago that what is

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Speaker 3: happening in Iran is the most important thing in the

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Speaker 3: world right now, you are exactly right. Iri tweet. Did

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Speaker 3: you In fact, I read your tweet on my podcast

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Speaker 3: Verdict with Ted Cruz. This is a moment. There are

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Speaker 3: very few things, if anything, that could enhance American national

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Speaker 3: security more than seeing the Iyatola and the Malas removed

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Speaker 3: from power by the Iranian people. Because the Iatola, he

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Speaker 3: routinely chants death to America. He is an Islamist, theocratic, genocidal,

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Speaker 3: homicidal dictator. And seeing him remove from power. He has

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Speaker 3: killed a vast number of American servicemen and women. He

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Speaker 3: has waged war against America for years and for decades.

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Speaker 3: And I think we may well be on the precipice

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Speaker 3: of the Iranian people getting enough is.

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Speaker 1: Enough, Center Cruise. We certainly are at a place where

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Speaker 1: there could be a huge pivot point in Iran, and

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Speaker 1: I think a lot of people listening right now are

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Speaker 1: very enthusiastic about the prospects of a different regime there

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Speaker 1: led by the Iranian people. But of course we have

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Speaker 1: the concern about intervention. What would it look like, what

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Speaker 1: would it be to the point that Clay or the

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Speaker 1: question that Clay posed to you a moment ago, if

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Speaker 1: the commander in chief, we know that you and President

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Speaker 1: Trump talk. We know you guys have each other's phone numbers, etc.

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Speaker 1: If you were to call you in five minutes and

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Speaker 1: say Ted, I'm thinking about blowing up the following targets,

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Speaker 1: which I think are at the absolute heart of the

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Speaker 1: machinery of murder against these protesters right now, Ier GC headquarters, besiege,

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Speaker 1: whatever it may be. Do you think that's the move?

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Speaker 1: No US boots on the ground, But if missills have

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Speaker 1: to fly through the sky to help the Iranian people

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Speaker 1: achieve freedom, would you be in favor of it?

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Speaker 3: Possibly? It depends on the details of the specifics. I

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Speaker 3: am talking to President Trump frequently throughout this process and

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Speaker 3: encouraging I think the path he's following in Iran makes sense.

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Speaker 3: I spent the entire day yesterday with Pete Hegseth. We

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Speaker 3: flew on peace plane back from Brownsville from SpaceX to

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Speaker 3: DC late last night. I spent much of that plane

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Speaker 3: ride talking with Pete about Iran and what we should

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Speaker 3: be doing. And in my view, number one, we should

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Speaker 3: we be doing everything we can to encourage the revolution

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Speaker 3: from the American people. That includes cyber efforts. I think

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Speaker 3: if suddenly the Iranian regimes, if they're surveillance, if their radar,

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Speaker 3: if their tools of oppression cease to operate, that is

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Speaker 3: a very good thing. Covert action, I think that is

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Speaker 3: a very good thing. In terms of a kinetic strike,

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Speaker 3: at actual military strike, it might make sense to do so,

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Speaker 3: but it would depend on the specific target and it

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Speaker 3: would have to be limited. Right now, this is a

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Speaker 3: revolution from the Iranian people. We want it to be

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Speaker 3: a revolution from the Iranian people. And so if there

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Speaker 3: were a particular kinetic strike, if for example, the regime

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Speaker 3: we're murdering protesters in one specific location and we could

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Speaker 3: stop them from doing that, we could engage in a

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Speaker 3: limited matter to stop the mass murder of protesters. I

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Speaker 3: think that could well make sense, but we do need

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Speaker 3: to think about the day after that. If the revolution succeeds,

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Speaker 3: and I pray that it does, then the question is, okay,

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Speaker 3: who governs Iran going forward? And that's not an easy question.

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Speaker 3: There could be a civil war, there could be lots

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Speaker 3: of unrest, lots of bad outcomes can happen, and I

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Speaker 3: think it is a much much better situation. And in

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Speaker 3: the tomorrow world. If the ayah Toola was overthrown by

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Speaker 3: the American people who were fed up with his oppression

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Speaker 3: and tyranny and Islamic dictatorship. Then if people say, oh,

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Speaker 3: the United States just toppled the head of Iran, that's

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Speaker 3: a much harder situation to have a good stable government.

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Speaker 3: And so I think President Trump is doing this just right.

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Speaker 3: If you contrast, look in two thousand and nine the

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Speaker 3: Green Revolution, the people of Iran were standing up and

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Speaker 3: Barack Obama was president. He did everything he could to

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Speaker 3: douse water on those flames and to tell the protesters,

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Speaker 3: we will not stand with you. What the President is

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Speaker 3: saying is America's with you, the people of Iran. And

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Speaker 3: he also said today this was very important. He said,

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Speaker 3: the regime henchmen that are engaging in atrocities, that are

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Speaker 3: murdering and torturing people, keep their names because they will

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Speaker 3: be held accountable. That's a major way to protect the

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Speaker 3: protesters to have. If you're an Iranian soldier and you're

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Speaker 3: being told open fire on the crowd suddenly, if you

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Speaker 3: think I'm going to be put in front of a

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Speaker 3: court and tried in another month if I do this,

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Speaker 3: that's part of how revolutions succeeds. So I think we

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Speaker 3: should do everything we can to encourage it without taking

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Speaker 3: it over, while leaving the Iranian people as the prime movers,

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Speaker 3: that this is their country and they should be determining

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Speaker 3: their future.

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Speaker 2: Quick question here to close with you, Senator Ted Cruz,

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Speaker 2: you were with Elon yesterday SpaceX as well as Secretary

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Speaker 2: of War Pete Hegseath. How good of information do we

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Speaker 2: have on the ground. They've shut down the Internet, they've

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Speaker 2: shut down all communication. How much do you think we

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Speaker 2: know about what might be happening? There said potentially within

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Speaker 2: hours he could be overthrown. Do we have that kind

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Speaker 2: of intel?

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Speaker 3: Look, we don't know specifically. I think it could be imminent,

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Speaker 3: just based on the size of the protest, on the energy,

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Speaker 3: on the weakness of the regime. I will say one

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Speaker 3: of the most important things that happened is that Elon

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Speaker 3: has activated Starlink over Iran and has provided it for free,

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Speaker 3: which is providing communication. The regime has shut down the Internet,

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Speaker 3: the regime has tried to shut down television. Actually, ironically,

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Speaker 3: do you guys know the main thing? Do you know

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Speaker 3: what the Ayatola is broadcasting all over Iran right now?

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Speaker 1: In Persian Tucker Carlson, he's.

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Speaker 3: Playing Tucker Carlson. That's what the ayatola is playing translated

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Speaker 3: into Persian. I talked about it my podcast yesterday. Look,

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Speaker 3: you and I have both known Tucker a long long time.

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Speaker 3: In all seriousness, if an Islamist murderer who hates America

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Speaker 3: views your words as the propaganda he wants to use

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Speaker 3: to silence and oppress his people, that's got to be

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Speaker 3: a real side. Maybe you're on the wrong path. Maybe

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Speaker 3: you need to rethink what you're saying, because I'll tell you.

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Speaker 3: At the same time, my podcast Verdict with Ted Cruz

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Speaker 3: are download numbers of skyrocketed in Iran. I think people

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Speaker 3: are using starlink to download the podcast. And if my words,

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Speaker 3: if your words are encouraging the protesters, that you can

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Speaker 3: overthrow these desk butots, that's that. I am very happy

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Speaker 3: with the side of history you and I find ourselves on.

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Speaker 1: Senator Cruz, thank you so much, and tell the good

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Speaker 1: folks of Aron to listen to Clay and Buck while

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Speaker 1: you're at it. If you can't thank you for being there.

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Speaker 3: You guys do a phenomenal job.

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Speaker 2: Thank you very much. That's Senator Ted Cruz. Look, you

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Speaker 2: want to be the most popular member of your immediate

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00:16:48,760 --> 00:16:52,400
Speaker 2: and extended family. Round up your old videotapes recorded years ago,

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Speaker 2: have them digitized so everyone can enjoy seeing them again.

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Speaker 2: Few things make more sense than legacy Box. Legacy box

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Speaker 2: dot com slash Clay fifty five percent off when you

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Speaker 2: preserve your past, get it done today that website one

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Speaker 2: more time.

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Speaker 1: I love these guys.

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Speaker 2: Legacybox dot Com fifty five percent off. Preserve your family

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Speaker 2: memories today at legacybox dot Com.

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Speaker 4: Slash Clay Patriots Radio hosts a couple of regular guys,

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Speaker 4: Clay Travis and Buck Sexton. Find them on the free

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Speaker 4: iHeartRadio app or wherever you get your podcasts.

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Speaker 2: Welcome back in Play Travis Buck Sexton Show. We thank

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Speaker 2: all of you for hanging out with us. We are

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Speaker 2: talking about a lot of different stories out there that

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Speaker 2: continue to get much attention Minneapolis. The Supreme Court decision

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Speaker 2: coming now in the wake of the oral arguments that

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Speaker 2: were heard in the trans sports related issue. But Buck,

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Speaker 2: you said, as we were I think it was the

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Speaker 2: last hour right before we had someor Ted Cruz on.

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Speaker 2: We were discussing the credit card debt idea and the

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Speaker 2: in particular, President Trump tweeted that he was going to

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Speaker 2: try to cap credit card interest rates at ten percent

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Speaker 2: right now, I believe the interest rates have crept up

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Speaker 2: often north of twenty percent is the current credit card rate.

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Speaker 2: So I've got a couple of thoughts on this. To me, Basically,

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Speaker 2: what we talk about when we talk about credit card

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Speaker 2: interest rates is what is the rate that we will

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Speaker 2: allow to happen? Right Because we're basically capping them at

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Speaker 2: twenty five percent ish and saying that's as high as

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Speaker 2: we will allow them to get. I think they're capped

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Speaker 2: to thirty six percent. Thirty six percent? Is that as

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Speaker 2: high as it's allowed under traditional credit cards?

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Speaker 1: I mean, I think I have credit cards that are

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Speaker 1: at like twenty nine, so I mean it's definitely higher

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Speaker 1: than just like twenty it's upwards of thirty percent.

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Speaker 2: It may partly be state determinant too. I will be

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Speaker 2: honest with everybody out there, I am not an expert

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Speaker 2: on credit card interest rates or what the rates are

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Speaker 2: that are allowed, and I know they're different depending on

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Speaker 2: where you might live or what your overall credit rate is.

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Speaker 2: First of all, I don't know that the president has

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Speaker 2: the authority to be able to do this legally. I

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Speaker 2: know there's bills out there that would potentially cap this.

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Speaker 2: Ted Cruz said, hey, here's my concern. He was just

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Speaker 2: on with this last hour when you asked him the

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Speaker 2: next question, to what extent does that curtail the amount

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Speaker 2: of interest that is available in the market, Because I

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Speaker 2: think what the credit card companies would argue is the

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Speaker 2: reason we have to have rates that high is because

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Speaker 2: if we're going to extend credit to people that may

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Speaker 2: not pay us back, we have to have an ability

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Speaker 2: to make sure that we make the best possible profit

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Speaker 2: that we can to alleviate the risk that comes with

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Speaker 2: making a credit card credit available to everyone. Now, you

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Speaker 2: just said, Buck, your credit card interest rate you think

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Speaker 2: is twenty nine percent on your credit card. I don't

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Speaker 2: even know what my credit card interest was. I think

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Speaker 2: that's if I miss a payment. Yeah, then they jacket

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Speaker 2: they skyrocket it up if you miss one payment.

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Speaker 1: They've changed some of this stuff. I mean, look, I'll

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Speaker 1: just tell you this I have. I was in my

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Speaker 1: thirties and had a net worth in the hundreds of

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Speaker 1: dollars at once. Yes, okay, so this is not like,

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Speaker 1: oh I always paid much. I had basically a paycheck

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Speaker 1: to paycheck existence until like five years ago, maybe six

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Speaker 1: years ago, something like that. So what I'm saying is

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Speaker 1: I never carried a credit card balance that entire time.

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Speaker 1: Never once did you just pay cash or you had

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Speaker 1: a debit card. I just paid it off every month.

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Speaker 1: Every month I paid off my credit card.

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Speaker 2: Okay, yeah, not that you didn't use credit cards And

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Speaker 2: you say you didn't have a balance, You mean you

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Speaker 2: paid it off every month. You get sure that it

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Speaker 2: was not I'm saying I never. I never ran up

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Speaker 2: a debt on credit card companies. When I had no

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Speaker 2: money and when it would have been a lot of

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Speaker 2: fun to go buy like a new Jet Ski, I

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Speaker 2: did not do.

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Speaker 1: No. Yeah, I understand some people it's grocery. Some people.

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Speaker 1: I get all this, but but what I'm pointing out is, uh,

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Speaker 1: you you really don't want to run up credit card

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Speaker 1: debt and it should be something that people are far

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Speaker 1: more educated on because the rates are super high and

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Speaker 1: it is non dischargeable in bankruptcy, which is the other

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Speaker 1: part of this. So I've been on both sides. I

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Speaker 1: also think that some of the credit card stuff that

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Speaker 1: they do. I actually got hit by this once when

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Speaker 1: I was in my twenties. They would change the do dates.

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Speaker 1: Oh yeah, kind of arbitrarily. So I'm just going to

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Speaker 1: be clear. The credit card companies have engaged in predatory

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Speaker 1: behavior that has happened, that has been a real thing

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Speaker 1: in recent years. They have had to be they have

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Speaker 1: had to be told stop acting like a loan shark mobster. Okay,

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Speaker 1: moving the do date a round in the hopes that

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Speaker 1: somebody's auto payment is then late and then they can

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Speaker 1: hit you with the thirty percent APR. That's a scumbag,

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Speaker 1: honestly fraudulent move, Like it's fraud to do this, and

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Speaker 1: the credit card companies had to get hit, had to

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Speaker 1: get slapped with that, So they're not the good guys.

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Speaker 1: I'm not taking to the good guys. But what Ted

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Speaker 1: Cruz says is also true. If people need access to credit,

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Speaker 1: what are you going to do? Like you get into

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Speaker 1: this moral hazard thing, Like what do you do if

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Speaker 1: somebody needs to have an emergency thousand dollars that they

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Speaker 1: can go to on their credit card for whenever something

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Speaker 1: comes up, what are you gonna do. You're gonna force

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Speaker 1: people to give them the money. You're gonna force people,

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Speaker 1: You're gonna force credit cards to try to give a

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Speaker 1: lower rit by the way, it's just gonna be. It's

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Speaker 1: like price controls. They're gonna squeeze at one end and

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Speaker 1: then you're gonna get squeezing at the other end. This

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Speaker 1: is what ends up happening. The money has to come

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Speaker 1: from somewhere.

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Speaker 2: I would also point out banks will screw you at

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Speaker 2: every opportunity that they can too. So a lot of

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Speaker 2: people talk about, you know, unfair fees that are hitting

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Speaker 2: them on credit cards. Banks hit you on unfair fees

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Speaker 2: all the time too. My number one advice, to the

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Speaker 2: extent that you can you can do it is and

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Speaker 2: I think most a lot of financial advisors out there

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Speaker 2: would say this, you are way less likely to spend

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Speaker 2: money if you use cash because in your brain, this

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Speaker 2: is just the way we're all wired.

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00:23:31,200 --> 00:23:33,000
Speaker 1: Cash. You feel it.

433
00:23:33,560 --> 00:23:35,840
Speaker 2: In a way that you do not when it comes

434
00:23:35,880 --> 00:23:38,880
Speaker 2: to paying with a credit card. And the reason why

435
00:23:38,920 --> 00:23:42,879
Speaker 2: the credit card industry works is because people live beyond

436
00:23:42,920 --> 00:23:45,840
Speaker 2: their means and they take advantage of you. You ever

437
00:23:45,880 --> 00:23:49,720
Speaker 2: fly on an airplane, you ever notice how often they

438
00:23:49,760 --> 00:23:51,960
Speaker 2: walk around trying to get you to sign up for

439
00:23:52,240 --> 00:23:57,960
Speaker 2: credit cards on an airplane. It's because the airlines now

440
00:23:58,320 --> 00:24:01,600
Speaker 2: make as much money just about their credit cards as

441
00:24:01,640 --> 00:24:05,439
Speaker 2: they do actually off of the airline itself. It's one

442
00:24:05,440 --> 00:24:08,639
Speaker 2: of the craziest things out there. If you're ever on

443
00:24:08,680 --> 00:24:11,640
Speaker 2: a college campus. The reason why they're trying to give

444
00:24:11,640 --> 00:24:14,160
Speaker 2: you away a sweatshirt to get you to sign up

445
00:24:14,359 --> 00:24:17,719
Speaker 2: is because they know what the long term value of

446
00:24:17,920 --> 00:24:22,480
Speaker 2: this is going to create for them, because the numbers

447
00:24:22,560 --> 00:24:25,320
Speaker 2: are the numbers a little bit like a casino. Once

448
00:24:25,320 --> 00:24:28,439
Speaker 2: they get you signed up, they know that you're going

449
00:24:28,520 --> 00:24:30,760
Speaker 2: to be worth a decent amount to them going forward.

450
00:24:30,960 --> 00:24:33,120
Speaker 2: Now I said it, I don't know that Trump has

451
00:24:33,160 --> 00:24:34,280
Speaker 2: the ability to do it.

452
00:24:34,359 --> 00:24:34,479
Speaker 5: Well.

453
00:24:34,520 --> 00:24:37,800
Speaker 2: What I will say is this in conjunction with Trump

454
00:24:37,960 --> 00:24:40,720
Speaker 2: last week talking about trying to limit the number of

455
00:24:40,840 --> 00:24:44,520
Speaker 2: homes that people could buy, meaning big companies buying up

456
00:24:44,560 --> 00:24:48,160
Speaker 2: all the homes. This is Trump pivoting because I think

457
00:24:48,200 --> 00:24:52,000
Speaker 2: his team has recognized that the twenty twenty sixth election

458
00:24:52,119 --> 00:24:55,240
Speaker 2: is going to be decided on affordability, and people are

459
00:24:55,280 --> 00:24:57,840
Speaker 2: angry over how much prices went up during Joe Biden,

460
00:24:58,040 --> 00:25:02,480
Speaker 2: and so sometimes you put out policies that are populist

461
00:25:02,560 --> 00:25:05,920
Speaker 2: in nature, that don't necessarily have a chance of happening,

462
00:25:06,440 --> 00:25:08,639
Speaker 2: just to show people that you're listening. To them and

463
00:25:08,720 --> 00:25:09,879
Speaker 2: hearing their complaints.

464
00:25:10,040 --> 00:25:13,320
Speaker 1: That's exactly right that this is the Trump gambit. This

465
00:25:13,480 --> 00:25:16,200
Speaker 1: is Trump saying something that's going to do a few

466
00:25:16,240 --> 00:25:21,439
Speaker 1: things without getting into the details right now, because he's

467
00:25:22,400 --> 00:25:28,040
Speaker 1: moving the focus and changing the pressure here. So you

468
00:25:28,080 --> 00:25:31,600
Speaker 1: point out, Clay people feel like credit card companies, and

469
00:25:31,600 --> 00:25:33,199
Speaker 1: that's why I said what I said before. But I

470
00:25:33,200 --> 00:25:34,960
Speaker 1: will tell you guys something. This is actually a personal,

471
00:25:35,000 --> 00:25:37,879
Speaker 1: little personal anecdote. This is true when I was in

472
00:25:37,920 --> 00:25:40,480
Speaker 1: the CIA, and I think I made thirty eight thousand

473
00:25:40,520 --> 00:25:42,640
Speaker 1: dollars my first year in the CIA, something like that,

474
00:25:43,119 --> 00:25:46,199
Speaker 1: And so I had no money and my parent, I

475
00:25:46,200 --> 00:25:48,560
Speaker 1: had no money set aside for me or anything like that. Okay,

476
00:25:48,600 --> 00:25:51,679
Speaker 1: So I just started my job at the CIA. I

477
00:25:51,840 --> 00:25:54,840
Speaker 1: moved because I couldn't afford the rent increase in the

478
00:25:54,840 --> 00:25:57,480
Speaker 1: initial apartment, which was the cheapest studio apartment in this

479
00:25:57,560 --> 00:26:00,960
Speaker 1: massive building living in DC. I move and Capital one

480
00:26:01,119 --> 00:26:03,800
Speaker 1: Clay I had a zero balance, because I always had

481
00:26:03,800 --> 00:26:08,359
Speaker 1: a zero balance. Capital One sent via snail mail to

482
00:26:08,400 --> 00:26:14,520
Speaker 1: my old address a five dollars account closing charge. I

483
00:26:14,520 --> 00:26:16,520
Speaker 1: had never you know, was this in the fine print

484
00:26:16,520 --> 00:26:17,480
Speaker 1: of my contract somewhere?

485
00:26:17,560 --> 00:26:17,800
Speaker 3: Yeah?

486
00:26:17,800 --> 00:26:20,399
Speaker 1: Whatever, But I shut down the credit card when I

487
00:26:20,480 --> 00:26:22,080
Speaker 1: moved because I was like, I never used this card.

488
00:26:22,080 --> 00:26:23,919
Speaker 1: It was an emergency card that my parents set up

489
00:26:23,920 --> 00:26:25,480
Speaker 1: for me when I was in college that I actually

490
00:26:25,560 --> 00:26:27,840
Speaker 1: never used one time. It was like, use this if

491
00:26:27,880 --> 00:26:29,440
Speaker 1: you know, you break your leg, you're in the er.

492
00:26:29,520 --> 00:26:32,160
Speaker 2: It was like, that's a great glass emergency card.

493
00:26:32,440 --> 00:26:34,040
Speaker 1: You need money and you and I realized I had

494
00:26:34,040 --> 00:26:35,679
Speaker 1: a five hundred dollars limit, which isn't a hell of

495
00:26:35,680 --> 00:26:38,280
Speaker 1: an emergency, let's be honest, So I shut it down.

496
00:26:38,320 --> 00:26:40,880
Speaker 1: They sent a five dollar charge to shut it down.

497
00:26:41,400 --> 00:26:43,439
Speaker 1: I found I heard nothing about this. I got a

498
00:26:43,480 --> 00:26:47,840
Speaker 1: call eighteen months later from a collection agency saying I

499
00:26:47,880 --> 00:26:51,760
Speaker 1: owed them like three hundred dollars now and my credit

500
00:26:51,840 --> 00:26:57,720
Speaker 1: was wrecked over five dollars. That the notification they sent

501
00:26:57,840 --> 00:27:00,480
Speaker 1: was completely unsatisfactory. They could have emailed me then ever

502
00:27:00,520 --> 00:27:03,200
Speaker 1: emailed me. I mean, there were a whole credit card

503
00:27:03,200 --> 00:27:05,560
Speaker 1: companies act like scumbag sometimes. It's my point that was

504
00:27:05,560 --> 00:27:07,960
Speaker 1: a total that was a total scumbag move.

505
00:27:08,200 --> 00:27:10,400
Speaker 2: This is twenty years ago, and they will screw you

506
00:27:10,480 --> 00:27:14,679
Speaker 2: on your credit rating, which is ultimately probably the number

507
00:27:14,720 --> 00:27:18,480
Speaker 2: one most valuable financial asset that most of us have,

508
00:27:19,040 --> 00:27:21,760
Speaker 2: and a lot of times you have like parking ticket

509
00:27:21,800 --> 00:27:25,280
Speaker 2: on there, or you've got the cancelation fee on there

510
00:27:25,600 --> 00:27:26,840
Speaker 2: that they're tanking you with.

511
00:27:27,040 --> 00:27:31,520
Speaker 1: This was the only missed payment of any kind like

512
00:27:31,600 --> 00:27:35,040
Speaker 1: this I have ever had of any kind. I've always

513
00:27:35,080 --> 00:27:37,639
Speaker 1: been Look, I'm gonna be honest with you, he's a

514
00:27:37,640 --> 00:27:39,879
Speaker 1: competitor already. I love the Dave Ramsey approach on this.

515
00:27:40,080 --> 00:27:43,200
Speaker 1: I'm very you know, pay cash when you can. You're

516
00:27:43,200 --> 00:27:47,040
Speaker 1: not caring a balance. The whole point is the discipline.

517
00:27:47,440 --> 00:27:51,680
Speaker 1: It's supposed to be hard. It's supposed to be frustrating

518
00:27:52,160 --> 00:27:56,040
Speaker 1: that you can't buy the jet ski right now. Okay,

519
00:27:56,359 --> 00:27:59,199
Speaker 1: you save, you figure it out, you get there the

520
00:27:59,320 --> 00:28:03,480
Speaker 1: right way. You don't go by that you know that

521
00:28:03,600 --> 00:28:07,840
Speaker 1: firebird or that I don't know, you know Ford Mustang

522
00:28:07,880 --> 00:28:10,639
Speaker 1: that goes room room room super loud, and pay like

523
00:28:10,640 --> 00:28:13,159
Speaker 1: a twenty percent APR on the money like that's in

524
00:28:13,320 --> 00:28:17,160
Speaker 1: You can't. These are bad decisions. Okay, they're bad decisions.

525
00:28:17,200 --> 00:28:20,240
Speaker 1: So at some point or at some level, you want

526
00:28:20,280 --> 00:28:24,400
Speaker 1: people to be disincentivized from doing some of these things,

527
00:28:24,400 --> 00:28:27,960
Speaker 1: and a high APR does that. But I'm just saying

528
00:28:28,080 --> 00:28:31,119
Speaker 1: I also understand this. Why is it non dischargeable, but

529
00:28:31,200 --> 00:28:33,440
Speaker 1: they would say if it wasn't non dischargeable, that would

530
00:28:33,480 --> 00:28:35,680
Speaker 1: have to then factor into the risk profile and you'd

531
00:28:35,680 --> 00:28:37,920
Speaker 1: have the same problem of not having the higher rates.

532
00:28:37,960 --> 00:28:40,560
Speaker 1: This is a complicated issue. But here on Trump Clay

533
00:28:40,760 --> 00:28:42,600
Speaker 1: due to your point, because I think it's brilliant when sorry,

534
00:28:42,560 --> 00:28:45,000
Speaker 1: I just got fired up because I still remember opening.

535
00:28:45,120 --> 00:28:48,040
Speaker 1: I still remember that call from the collection agency and

536
00:28:48,080 --> 00:28:49,600
Speaker 1: I was just like, you scumbags.

537
00:28:49,800 --> 00:28:53,960
Speaker 2: You know, I has experience that where it is completely

538
00:28:54,160 --> 00:28:56,440
Speaker 2: unfair and then we're going to take advantage of you.

539
00:28:56,480 --> 00:28:57,840
Speaker 1: And I'm like and I'm like, my credit's a rum.

540
00:28:57,880 --> 00:28:59,800
Speaker 1: The credit card company is getting like a sixty extra

541
00:28:59,840 --> 00:29:02,640
Speaker 1: twarn't on five dollars for nothing, for literally nothing for

542
00:29:02,680 --> 00:29:06,840
Speaker 1: shutting down an account as absurd anyway, And yeah, I

543
00:29:06,880 --> 00:29:10,040
Speaker 1: think I wouldn't have qualified for a Fannie May loan

544
00:29:10,160 --> 00:29:12,120
Speaker 1: based on this one thing at that time. That's how

545
00:29:12,120 --> 00:29:14,080
Speaker 1: bad it was, because it had gone on for like

546
00:29:14,080 --> 00:29:15,600
Speaker 1: a year, and once it goes on, once it goes

547
00:29:15,640 --> 00:29:19,280
Speaker 1: beyond ninety days, you're screwed. My point is Trump understands this,

548
00:29:19,960 --> 00:29:21,840
Speaker 1: and he knows that he's putting heat on the credit

549
00:29:21,880 --> 00:29:24,560
Speaker 1: card companies, and he knows whether he has the right,

550
00:29:24,960 --> 00:29:28,680
Speaker 1: or rather the legal ability or not Clay, he has

551
00:29:28,680 --> 00:29:31,880
Speaker 1: the political ability right now, can maybe get some concessions

552
00:29:31,880 --> 00:29:33,480
Speaker 1: out of them, maybe get them to not do some

553
00:29:33,560 --> 00:29:35,920
Speaker 1: of the grosser stuff they do, maybe move them in

554
00:29:35,960 --> 00:29:38,200
Speaker 1: the right direction. So that's the Trump gambit as I

555
00:29:38,240 --> 00:29:38,520
Speaker 1: see it.

556
00:29:38,800 --> 00:29:42,520
Speaker 2: I would also point out, we're basically making a policy

557
00:29:42,640 --> 00:29:48,320
Speaker 2: decision on what we're allowing the credit card companies to

558
00:29:48,360 --> 00:29:51,200
Speaker 2: set their rates at. We're saying, like, you couldn't have

559
00:29:51,280 --> 00:29:54,160
Speaker 2: a seventy five percent interest rates on a credit card, right,

560
00:29:54,200 --> 00:29:58,160
Speaker 2: we wouldn't allow it. So to some extent, it is

561
00:29:58,440 --> 00:30:01,640
Speaker 2: just a policy choice because I'm sure, look, credit card

562
00:30:01,680 --> 00:30:04,239
Speaker 2: companies would take a seventy five percent interest rate if

563
00:30:04,240 --> 00:30:07,320
Speaker 2: they could right yearly APR. They would take it as

564
00:30:07,360 --> 00:30:11,320
Speaker 2: high as they possibly can. This is to where people say, Okay,

565
00:30:11,360 --> 00:30:14,360
Speaker 2: we're going to balance this, and Trump is saying, to

566
00:30:14,400 --> 00:30:17,320
Speaker 2: his credit, this is a one year thing, which also

567
00:30:17,440 --> 00:30:18,680
Speaker 2: looks even more political.

568
00:30:18,920 --> 00:30:20,880
Speaker 1: Right to be fair, Oh, the one.

569
00:30:20,800 --> 00:30:23,880
Speaker 2: Year happens to correspond with the midterm, when you'll be

570
00:30:24,000 --> 00:30:26,560
Speaker 2: on the ballot basically for the last time of your

571
00:30:26,600 --> 00:30:30,520
Speaker 2: political career. Again, it's political in nature. I think it's

572
00:30:30,560 --> 00:30:35,320
Speaker 2: acknowledging affordability related issues. I'm not sure how impactful in

573
00:30:35,440 --> 00:30:38,000
Speaker 2: terms of getting it to actually occur. This will be

574
00:30:38,320 --> 00:30:40,000
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578
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579
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580
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581
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583
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584
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585
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597
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Speaker 6: Com news you can count on and some laughs too.

598
00:32:04,920 --> 00:32:06,960
Speaker 1: Clay Travis and Buck Sexton.

599
00:32:07,080 --> 00:32:10,360
Speaker 6: Find them on the free iHeartRadio app or wherever you

600
00:32:10,480 --> 00:32:11,600
Speaker 6: get your podcasts.

601
00:32:11,840 --> 00:32:14,280
Speaker 1: All right, third hour of Clay and Buck kicks off. Now,

602
00:32:14,320 --> 00:32:17,320
Speaker 1: everybody show flying by today. Thanks for being with us.

603
00:32:17,600 --> 00:32:20,400
Speaker 1: We're talking a lot about the Trump economy today. We're

604
00:32:20,400 --> 00:32:23,200
Speaker 1: getting deep into the credit card discussion. There, send us

605
00:32:23,200 --> 00:32:26,960
Speaker 1: your thoughts if you have also credit card horror stories.

606
00:32:28,200 --> 00:32:31,800
Speaker 1: Bruce Rally was like shock in mind that they could

607
00:32:31,800 --> 00:32:36,320
Speaker 1: be so ruthless. But yes, indeed they can be quite

608
00:32:36,520 --> 00:32:40,000
Speaker 1: quite aggressive, of those credit card companies, and they are

609
00:32:40,120 --> 00:32:43,960
Speaker 1: enabled by politicians who Joe Biden is the worst of

610
00:32:44,000 --> 00:32:45,680
Speaker 1: the worst when it comes to this, because what else,

611
00:32:45,840 --> 00:32:48,840
Speaker 1: who else do you represent the state of Delaware? Really,

612
00:32:49,240 --> 00:32:53,200
Speaker 1: you're representing credit card companies. That was Joe Biden's primary

613
00:32:53,240 --> 00:32:56,560
Speaker 1: constituency for his entire forty something years or whatever it

614
00:32:56,600 --> 00:33:01,960
Speaker 1: was in the Senate before he became the worst president

615
00:33:02,040 --> 00:33:04,080
Speaker 1: of the twenty first century, which isn't really saying much.

616
00:33:04,160 --> 00:33:07,760
Speaker 1: I think probably the worst president. I'm comfortable saying Biden

617
00:33:07,920 --> 00:33:12,360
Speaker 1: was the worst president in Well, people might say Jimmy Carter.

618
00:33:12,480 --> 00:33:14,120
Speaker 1: You go back to the Jimmy Carter thing. I think

619
00:33:14,120 --> 00:33:17,880
Speaker 1: Biden's worst. Carter had some worse than Jimmy Carter. I

620
00:33:18,320 --> 00:33:21,320
Speaker 1: think I think Carter had some. He had some dignity, yeah,

621
00:33:21,400 --> 00:33:23,720
Speaker 1: he had. He was a man who had you know,

622
00:33:23,800 --> 00:33:27,800
Speaker 1: he was honorable in his way. He just was wrong

623
00:33:27,840 --> 00:33:31,480
Speaker 1: about everything. Biden was a scumbag who was also wrong

624
00:33:31,520 --> 00:33:35,280
Speaker 1: about everything. So I think the scumbaggery takes him into

625
00:33:35,320 --> 00:33:37,320
Speaker 1: the number one slot. I think, worst president we've had

626
00:33:37,360 --> 00:33:38,160
Speaker 1: in one hundred years.

627
00:33:39,200 --> 00:33:41,960
Speaker 2: Yeah, I think historically he's going to be up there

628
00:33:42,400 --> 00:33:46,120
Speaker 2: with the James Buchanan who was president when the Civil

629
00:33:46,160 --> 00:33:49,600
Speaker 2: War was allowed to start right before Abraham Lincoln, which

630
00:33:49,640 --> 00:33:52,360
Speaker 2: is a history NERD take there for you, And.

631
00:33:52,760 --> 00:33:54,480
Speaker 1: Is it surprising that a guy who they even had

632
00:33:54,520 --> 00:33:57,800
Speaker 1: to admit essentially had a brain that was semi functional

633
00:33:57,840 --> 00:34:00,560
Speaker 1: because of dementia or whatever the diet knows this would

634
00:34:00,600 --> 00:34:03,560
Speaker 1: be was bad as president, of course he was now

635
00:34:03,640 --> 00:34:05,840
Speaker 1: he I mean it was he was dumb thirty years ago.

636
00:34:05,960 --> 00:34:08,120
Speaker 1: So now he's dumb and his brain doesn't work because

637
00:34:08,160 --> 00:34:11,040
Speaker 1: of old age. That's going to be a bad combo. Yes,

638
00:34:11,200 --> 00:34:11,560
Speaker 1: no doubt.

639
00:34:11,560 --> 00:34:13,080
Speaker 2: By the way, I wanted to mention this because we

640
00:34:13,080 --> 00:34:16,480
Speaker 2: were talking about not that we're in any way the greatest,

641
00:34:18,280 --> 00:34:22,080
Speaker 2: the greatest advocates or the greatest experts when it comes

642
00:34:22,120 --> 00:34:26,040
Speaker 2: to financial decisions. I wanted to mention something that I

643
00:34:26,160 --> 00:34:29,960
Speaker 2: didn't even know, and I bet a huge percentage of

644
00:34:29,960 --> 00:34:33,240
Speaker 2: our audience doesn't even know as we set the table.

645
00:34:33,280 --> 00:34:36,360
Speaker 2: By the way, latest on Minneapolis. President Trump is speaking

646
00:34:36,440 --> 00:34:39,319
Speaker 2: right now at the Detroit Economic Club. Will go live

647
00:34:39,400 --> 00:34:41,040
Speaker 2: to that in a few minutes and hear what he's

648
00:34:41,080 --> 00:34:46,239
Speaker 2: saying there. The credit card death discussion, Buck, I used

649
00:34:46,280 --> 00:34:48,719
Speaker 2: to wonder, I didn't they don't teach you anything about mortgages.

650
00:34:49,520 --> 00:34:52,040
Speaker 2: We were talking about the lack of financial literacy that

651
00:34:52,120 --> 00:34:55,719
Speaker 2: comes from schools, and it is incredibly unfortunate that that

652
00:34:55,880 --> 00:34:59,480
Speaker 2: is the reality that we face. Here is a crazy,

653
00:35:00,640 --> 00:35:03,239
Speaker 2: crazy take that I think a lot of people will

654
00:35:03,280 --> 00:35:07,640
Speaker 2: never actually go into. Do you know that when you

655
00:35:07,680 --> 00:35:11,480
Speaker 2: get a mortgage thirty year or fifteen year mortgage, the

656
00:35:11,520 --> 00:35:14,680
Speaker 2: first several years of your mortgage payments go look at

657
00:35:14,680 --> 00:35:17,359
Speaker 2: the amortization table. I don't even think most people even

658
00:35:17,360 --> 00:35:20,680
Speaker 2: know what an amortization table is. Almost all of your

659
00:35:20,719 --> 00:35:23,960
Speaker 2: mortgage payments is interest. So if you wonder why is

660
00:35:24,000 --> 00:35:26,719
Speaker 2: a bank always so happy to have people REFI, it

661
00:35:26,760 --> 00:35:28,759
Speaker 2: can be a very good decision because you can go

662
00:35:28,840 --> 00:35:31,560
Speaker 2: from a seven percent rate down to a four percent

663
00:35:31,640 --> 00:35:33,720
Speaker 2: rate or whatever. I'm not saying it's not a smart decision.

664
00:35:33,719 --> 00:35:37,399
Speaker 2: It often is, but they're giving up that rate because

665
00:35:37,440 --> 00:35:40,399
Speaker 2: you go back to just paying interest to them. Most

666
00:35:40,400 --> 00:35:44,160
Speaker 2: people never complete a thirty year mortgage. Some thirty year

667
00:35:44,200 --> 00:35:48,080
Speaker 2: mortgages for the first decade, almost all of it is interest.

668
00:35:48,239 --> 00:35:50,920
Speaker 2: And then when you look at the amortization table, by

669
00:35:51,000 --> 00:35:52,720
Speaker 2: the time you get to the end of a thirty

670
00:35:52,760 --> 00:35:56,799
Speaker 2: year mortgage, you're actually only then starting to pay principle.

671
00:35:57,280 --> 00:36:00,960
Speaker 2: And I don't think I bet a huge majority of

672
00:36:01,000 --> 00:36:04,800
Speaker 2: this audience pays a mortgage. I bet very few people

673
00:36:04,840 --> 00:36:08,880
Speaker 2: have ever actually looked at the amortization table to recognize,

674
00:36:09,320 --> 00:36:12,200
Speaker 2: oh my goodness, it's nearly a decade of a thirty

675
00:36:12,280 --> 00:36:15,839
Speaker 2: year mortgage, where all I'm doing is paying interest. You're

676
00:36:15,880 --> 00:36:18,360
Speaker 2: not actually getting to the principle at all. And then

677
00:36:18,360 --> 00:36:20,720
Speaker 2: people say, well, wait a minute, my value. Yeah, hopefully

678
00:36:20,760 --> 00:36:24,000
Speaker 2: your overall value of your home is going up, so

679
00:36:24,080 --> 00:36:26,640
Speaker 2: you're building equity because that home you bought for three

680
00:36:26,719 --> 00:36:30,560
Speaker 2: hundred thousand a decade later hopefully is worth four hundred

681
00:36:30,560 --> 00:36:34,239
Speaker 2: thousand or something. So you're getting equity that way, but

682
00:36:34,320 --> 00:36:38,200
Speaker 2: you're not actually paying it in a way that gets

683
00:36:38,200 --> 00:36:40,640
Speaker 2: your equity. And I just don't think most people even

684
00:36:40,719 --> 00:36:47,000
Speaker 2: understand that. Again, financial literacy probably something along with historical literacy,

685
00:36:47,360 --> 00:36:50,080
Speaker 2: that so many people are getting preyed upon because they

686
00:36:50,120 --> 00:36:53,160
Speaker 2: don't have the basic knowledge that is necessary.

687
00:36:53,760 --> 00:36:53,960
Speaker 5: Well.

688
00:36:54,000 --> 00:36:56,680
Speaker 1: Also, it reminds me of a very viral tweet from

689
00:36:56,719 --> 00:36:58,440
Speaker 1: a long time ago. I would give credit for it,

690
00:36:58,440 --> 00:36:59,600
Speaker 1: but I don't remember, but I think it was a

691
00:36:59,600 --> 00:37:02,920
Speaker 1: comedian and who said, I'm so glad I studied parallelograms

692
00:37:02,920 --> 00:37:06,719
Speaker 1: in high school. This was in April. Obviously it'll come

693
00:37:06,719 --> 00:37:11,000
Speaker 1: in so handy during parallelogram season, as in tax season,

694
00:37:11,480 --> 00:37:14,520
Speaker 1: as in now we're all supposed to become accountants in

695
00:37:14,560 --> 00:37:17,200
Speaker 1: our own right and know all these things, and this

696
00:37:17,320 --> 00:37:21,560
Speaker 1: incredibly complicated tax code and remember you are very the

697
00:37:21,600 --> 00:37:24,680
Speaker 1: same people that will tell you all illegals, no one's illegal.

698
00:37:24,719 --> 00:37:26,680
Speaker 1: You can come into the country and take whatever you want,

699
00:37:26,800 --> 00:37:29,040
Speaker 1: it doesn't matter, but you better pay your darn taxes.

700
00:37:29,160 --> 00:37:31,399
Speaker 1: Because if you're part of the productive class, if you're

701
00:37:31,400 --> 00:37:34,400
Speaker 1: part of the now less than half of American households

702
00:37:34,400 --> 00:37:37,359
Speaker 1: that even pay into the tax system instead of get

703
00:37:37,360 --> 00:37:41,960
Speaker 1: benefits from the tax system, then you are a cow

704
00:37:42,000 --> 00:37:44,200
Speaker 1: to be milked, and you are to shut up about

705
00:37:44,200 --> 00:37:46,319
Speaker 1: it and to just take take that and h and

706
00:37:46,360 --> 00:37:49,359
Speaker 1: deal with it. So I think that people are are

707
00:37:49,480 --> 00:37:53,600
Speaker 1: rightly very their interest is piqued, if you will, over

708
00:37:53,680 --> 00:37:59,520
Speaker 1: the I mean the credit card rate issue, because it

709
00:37:59,600 --> 00:38:03,520
Speaker 1: goes to a lot of what we see right now,

710
00:38:03,560 --> 00:38:07,680
Speaker 1: which is companies, corporations have things written in a way

711
00:38:07,760 --> 00:38:11,000
Speaker 1: that are beneficial to them. And I would say this clay, Okay,

712
00:38:11,040 --> 00:38:14,520
Speaker 1: people will point out, they'll say, well, but what about credit.

713
00:38:14,840 --> 00:38:16,560
Speaker 1: You won't get credit to por you know, to people

714
00:38:16,600 --> 00:38:19,239
Speaker 1: that need it unless you have these rates. Well, then

715
00:38:19,280 --> 00:38:20,480
Speaker 1: why do we have a cap on it at all?

716
00:38:20,560 --> 00:38:23,680
Speaker 1: Right now? We do and people are getting credit cards.

717
00:38:24,200 --> 00:38:27,600
Speaker 2: That's so we're made to this policy decision on some

718
00:38:27,880 --> 00:38:31,279
Speaker 2: level that we're okay at twenty five percent, but we're

719
00:38:31,280 --> 00:38:33,920
Speaker 2: not okay with forty five percent. That's right, there is

720
00:38:34,000 --> 00:38:36,520
Speaker 2: a level that we're willing to accept.

721
00:38:36,960 --> 00:38:38,560
Speaker 1: And this is where you see it's a bit like

722
00:38:38,600 --> 00:38:42,359
Speaker 1: the minimum wage discussion too, where people will say, well,

723
00:38:42,360 --> 00:38:44,919
Speaker 1: we shouldn't have any minimum wage, okay, but we do,

724
00:38:45,920 --> 00:38:49,160
Speaker 1: and so if we do have one, we're going to

725
00:38:49,280 --> 00:38:52,000
Speaker 1: argue over what it should be. And if we're going

726
00:38:52,040 --> 00:38:55,279
Speaker 1: to have a cap, you know, we're if you're my

727
00:38:55,840 --> 00:39:00,359
Speaker 1: very simply put, if you're drawing a line, you get

728
00:39:00,400 --> 00:39:02,520
Speaker 1: to decide, you get to argue for where the line

729
00:39:02,560 --> 00:39:04,839
Speaker 1: should be drawn. There are some people who will be

730
00:39:05,200 --> 00:39:08,040
Speaker 1: there should be no line, Okay. That's a different argument though,

731
00:39:08,160 --> 00:39:10,319
Speaker 1: because if there is a line, we're gonna argue over

732
00:39:10,320 --> 00:39:12,120
Speaker 1: where that line is. We're going to debate where that

733
00:39:12,160 --> 00:39:15,160
Speaker 1: line should be. And I think Trump raises that and

734
00:39:15,200 --> 00:39:17,280
Speaker 1: it's a very much like I said, the Trump gambit,

735
00:39:17,360 --> 00:39:20,600
Speaker 1: because maybe it's that again. I think I saw that

736
00:39:20,600 --> 00:39:23,040
Speaker 1: thirty I did a quick rock search. Thirty six percent

737
00:39:23,160 --> 00:39:26,440
Speaker 1: is the like statutory cap right now on credit cards.

738
00:39:27,560 --> 00:39:29,879
Speaker 1: It certainly is around thirty because I've seen twenty nine

739
00:39:29,920 --> 00:39:33,200
Speaker 1: percent penalty aprs on credit cards that I have, not

740
00:39:33,280 --> 00:39:35,840
Speaker 1: that I ever hit those penalties because I've refused to

741
00:39:35,840 --> 00:39:40,200
Speaker 1: carry a credit card balance. But Clay, if we could

742
00:39:40,200 --> 00:39:43,560
Speaker 1: get it down to twenty percent, would what would that mean?

743
00:39:43,560 --> 00:39:46,480
Speaker 1: Would that just mean that that credit card stocks take

744
00:39:46,480 --> 00:39:48,680
Speaker 1: a bit of a hit and have to, you know,

745
00:39:48,760 --> 00:39:51,160
Speaker 1: reassess some of their they're still going to give credit

746
00:39:51,160 --> 00:39:53,840
Speaker 1: card you know, they're still making money. I understand that

747
00:39:53,920 --> 00:39:55,759
Speaker 1: at some level there's charge offs and you're gonna say,

748
00:39:55,760 --> 00:39:58,000
Speaker 1: but that's non dischargeable in bankruptcy and you have this

749
00:39:58,160 --> 00:40:02,160
Speaker 1: huge collections in that's going to continue to function as

750
00:40:02,160 --> 00:40:05,000
Speaker 1: it does. So remember they make money off of transaction

751
00:40:05,080 --> 00:40:07,920
Speaker 1: fees every time. They're not supposed to do this. Some vendors,

752
00:40:07,920 --> 00:40:11,160
Speaker 1: every time you go and you swipe that card, they're

753
00:40:11,200 --> 00:40:12,920
Speaker 1: taking a percentage of the transaction.

754
00:40:12,719 --> 00:40:15,799
Speaker 2: Or three percent typically every single time you swipe a card.

755
00:40:16,320 --> 00:40:19,239
Speaker 1: And that's an amazing business to be in, right, But

756
00:40:19,640 --> 00:40:22,719
Speaker 1: some places won't take the higher I think AMX tends

757
00:40:22,760 --> 00:40:26,200
Speaker 1: to have the higher the higher swipe fee, and so

758
00:40:26,480 --> 00:40:28,560
Speaker 1: they'll say, we don't Tay, you've come across this, right, Clay,

759
00:40:28,560 --> 00:40:30,120
Speaker 1: we don't. I've been to restaurants they'll say, we don't

760
00:40:30,120 --> 00:40:33,000
Speaker 1: take American Express here, they're not supposed to do that,

761
00:40:33,040 --> 00:40:36,319
Speaker 1: by the way, Like there there's actually and they're not. Well,

762
00:40:36,320 --> 00:40:39,000
Speaker 1: I should say, they're not supposed to charge you more

763
00:40:39,480 --> 00:40:41,680
Speaker 1: for using a credit card if you have a credit

764
00:40:41,680 --> 00:40:43,680
Speaker 1: card contract with them. But some places will do that too.

765
00:40:43,719 --> 00:40:46,080
Speaker 1: They're like, oh, we charge a credit card fee. That's

766
00:40:46,080 --> 00:40:48,480
Speaker 1: actually a violation of their credit card agreement.

767
00:40:49,040 --> 00:40:53,360
Speaker 2: By the way, their power is only growing too, because

768
00:40:53,520 --> 00:40:56,760
Speaker 2: young people never have cash. Yes, I mean and Apple,

769
00:40:56,880 --> 00:40:59,440
Speaker 2: for instance, I am almost to the to the point

770
00:40:59,520 --> 00:41:02,279
Speaker 2: sometime where I would rather just go out with my

771
00:41:02,400 --> 00:41:06,080
Speaker 2: phone and use Apple Pay. What you know, Look, Apple

772
00:41:06,360 --> 00:41:09,719
Speaker 2: is really good at figuring out how ways to monetize

773
00:41:09,840 --> 00:41:12,799
Speaker 2: everything that you do, and so they could get you

774
00:41:12,840 --> 00:41:16,279
Speaker 2: to pay from your phone. Ten years from now, I'm

775
00:41:16,280 --> 00:41:18,959
Speaker 2: not sure that there's hardly gonna be anybody out there

776
00:41:18,960 --> 00:41:21,000
Speaker 2: paying with cash. And I'm gonna be honest with you.

777
00:41:22,719 --> 00:41:24,799
Speaker 2: I love when I get in an uber or a

778
00:41:24,840 --> 00:41:29,040
Speaker 2: way mow or a Lyft whatever it is. Have you

779
00:41:29,120 --> 00:41:31,480
Speaker 2: been in a cab where you basically start to get

780
00:41:31,520 --> 00:41:34,120
Speaker 2: out of the cab because you're so used to being

781
00:41:34,200 --> 00:41:38,200
Speaker 2: charged automatically on your phone. Everybody out there around our

782
00:41:38,280 --> 00:41:41,000
Speaker 2: age certainly younger, probably around our age, because we at

783
00:41:41,080 --> 00:41:44,759
Speaker 2: least used cash at some point in time. I can't

784
00:41:44,760 --> 00:41:46,960
Speaker 2: count the number of times when I've actually gotten in

785
00:41:47,040 --> 00:41:49,640
Speaker 2: a cab and I just start to get out of

786
00:41:49,640 --> 00:41:52,239
Speaker 2: a cab now because I'm so used to an automatic

787
00:41:52,440 --> 00:41:55,839
Speaker 2: charge going to my phone. So the powers of these

788
00:41:55,880 --> 00:41:59,759
Speaker 2: credit card companies is only going to grow in the

789
00:42:00,200 --> 00:42:05,040
Speaker 2: decades ahead because young people like my kids never have cash.

790
00:42:06,719 --> 00:42:09,680
Speaker 2: I give them cash because I'm like, hey, make sure

791
00:42:09,760 --> 00:42:12,960
Speaker 2: that everybody is taken care of, because you need to

792
00:42:12,960 --> 00:42:16,520
Speaker 2: have cash in an emergency whatever else. My kids are like, what,

793
00:42:16,960 --> 00:42:19,360
Speaker 2: why would I ever need cash? So I think the

794
00:42:19,440 --> 00:42:22,520
Speaker 2: power of credit card companies is only going to grow.

795
00:42:24,120 --> 00:42:26,720
Speaker 1: So Trump is taking a stand on that one. Also

796
00:42:26,840 --> 00:42:31,120
Speaker 1: on the institutions being able to buy up single family homes.

797
00:42:31,920 --> 00:42:34,680
Speaker 1: You know, that's a complicated argument too. I know it's

798
00:42:34,719 --> 00:42:40,560
Speaker 1: become very popular on the right generally to talk about

799
00:42:40,600 --> 00:42:44,600
Speaker 1: how the reason home prices are so high is Blackrock,

800
00:42:45,680 --> 00:42:49,520
Speaker 1: for example, the massive, massive financial institution that has a

801
00:42:49,600 --> 00:42:51,840
Speaker 1: very large balance sheet with a lot of homes on it.

802
00:42:51,920 --> 00:42:53,680
Speaker 1: You know, they just that's one name that they'll throw

803
00:42:53,719 --> 00:42:56,000
Speaker 1: out there. But you say, well, hold on a second.

804
00:42:56,040 --> 00:42:57,640
Speaker 1: First of all, if we all agree, they're twenty million

805
00:42:57,640 --> 00:43:02,160
Speaker 1: illegals in this country somewhere, and you say, oh, well

806
00:43:02,160 --> 00:43:04,759
Speaker 1: they're renting. Yeah, that's still housing stock that is off.

807
00:43:05,000 --> 00:43:07,640
Speaker 1: So start with that. Start with there are millions and

808
00:43:07,680 --> 00:43:11,399
Speaker 1: millions of people who are being housed currently who are

809
00:43:11,400 --> 00:43:13,600
Speaker 1: not supposed to be in the country. There is no

810
00:43:13,719 --> 00:43:16,360
Speaker 1: way that that does not have an effect on supplying

811
00:43:16,360 --> 00:43:18,279
Speaker 1: to man It certainly does. New York City hotel room

812
00:43:18,280 --> 00:43:20,279
Speaker 1: has never been more expensive than at the end of

813
00:43:20,280 --> 00:43:23,319
Speaker 1: the Atoms administration, and it was because twenty or thirty

814
00:43:23,320 --> 00:43:25,759
Speaker 1: percent twenty or thirty I can't remember, but a big

815
00:43:25,800 --> 00:43:28,840
Speaker 1: portion of hotels were going to house illegals at the

816
00:43:28,840 --> 00:43:31,920
Speaker 1: taxpayer's expense. Correct, Well, if you take twenty percent of

817
00:43:32,320 --> 00:43:34,920
Speaker 1: something off the market, guess what it does to what remains.

818
00:43:35,120 --> 00:43:38,760
Speaker 1: It raises the price, It raises the costs. Applying demand

819
00:43:38,800 --> 00:43:42,920
Speaker 1: is still a major effect on the single family homes situation.

820
00:43:43,719 --> 00:43:45,480
Speaker 1: You know, on the one hand, you don't want institutions

821
00:43:45,480 --> 00:43:48,000
Speaker 1: buying up all these homes because you think, okay, well

822
00:43:48,040 --> 00:43:51,600
Speaker 1: they just use you know, the funny money balance sheet

823
00:43:51,640 --> 00:43:53,560
Speaker 1: they have access to that it's all just sort of

824
00:43:53,640 --> 00:43:55,640
Speaker 1: numbers to them on a spreadsheet. They're not actually living

825
00:43:55,680 --> 00:43:57,480
Speaker 1: in this and they're going to rise the price. On

826
00:43:57,480 --> 00:44:00,400
Speaker 1: the other hand, though, you want more developers, right, You

827
00:44:00,440 --> 00:44:03,759
Speaker 1: want there to be buyers ready to go so that

828
00:44:03,760 --> 00:44:05,839
Speaker 1: there are more and more developers making more and more

829
00:44:05,880 --> 00:44:09,759
Speaker 1: houses to keep up with population growth. So how much now?

830
00:44:09,920 --> 00:44:11,200
Speaker 1: And the other side of it is, I don't think

831
00:44:11,239 --> 00:44:13,640
Speaker 1: they someone tell me what the numbers are, guys. I

832
00:44:13,640 --> 00:44:15,560
Speaker 1: think it depends where in the country. I think there

833
00:44:15,560 --> 00:44:19,080
Speaker 1: are some states play where institutions own something like twenty

834
00:44:19,120 --> 00:44:21,799
Speaker 1: percent of the single family home stock, which seems other

835
00:44:21,840 --> 00:44:24,640
Speaker 1: states it's a lot lower than that, and it's dependent

836
00:44:24,719 --> 00:44:28,239
Speaker 1: upon the market factors in that state. But this is

837
00:44:28,280 --> 00:44:31,880
Speaker 1: a complicated discussion, you know, because it sometimes things that

838
00:44:32,160 --> 00:44:35,040
Speaker 1: it's just like the minimum wage thing. Minimum wage in

839
00:44:35,080 --> 00:44:37,480
Speaker 1: California is what now twenty five dollars. Guess what they're

840
00:44:37,520 --> 00:44:40,400
Speaker 1: doing in all these places. They're automating, they're cutting back hours.

841
00:44:40,400 --> 00:44:42,799
Speaker 1: All the things that we said would happen happen. No,

842
00:44:42,880 --> 00:44:43,680
Speaker 1: one hundred percent.

843
00:44:43,840 --> 00:44:48,520
Speaker 2: And look, I mean again, these go into complicated aspects.

844
00:44:48,600 --> 00:44:52,560
Speaker 2: In order to talk about them intelligently, you have to

845
00:44:52,680 --> 00:44:56,040
Speaker 2: have some measure of schooling on it. And I just

846
00:44:56,080 --> 00:44:59,040
Speaker 2: think financial literacy we do a really poor job of

847
00:44:59,120 --> 00:45:02,040
Speaker 2: explaining to kids how to balance check books, how to

848
00:45:02,120 --> 00:45:06,040
Speaker 2: understand mortgages, how to understand what credit card interest is,

849
00:45:06,080 --> 00:45:10,920
Speaker 2: to understand how quickly compound interest works against you if

850
00:45:10,960 --> 00:45:13,960
Speaker 2: you have those balances running forward, and also in a

851
00:45:14,000 --> 00:45:17,680
Speaker 2: positive way, how much compounding works in your favor. If

852
00:45:17,760 --> 00:45:22,040
Speaker 2: you start saving I mean, every ten years on average,

853
00:45:22,440 --> 00:45:25,839
Speaker 2: if you buy SMP five hundred index funds, you're going

854
00:45:25,920 --> 00:45:29,000
Speaker 2: to double your money. Well, if you're a kid and

855
00:45:29,040 --> 00:45:32,520
Speaker 2: you can start saving money when you're eighteen twenty years old,

856
00:45:32,920 --> 00:45:36,400
Speaker 2: by the time you're fifty, you've you know, doubled, double

857
00:45:36,560 --> 00:45:39,160
Speaker 2: doubled just in the last thirty years, and then if

858
00:45:39,160 --> 00:45:41,840
Speaker 2: you live fortunate enough to be eighty or ninety, you

859
00:45:41,920 --> 00:45:45,520
Speaker 2: start compounding that on such an incredible level. I don't

860
00:45:45,520 --> 00:45:48,040
Speaker 2: think most kids think about it. It's an optimistic way

861
00:45:48,080 --> 00:45:52,160
Speaker 2: to think, just to understand the larger context here, and

862
00:45:52,239 --> 00:45:56,080
Speaker 2: I wish we did a better job of setting this

863
00:45:56,160 --> 00:45:58,600
Speaker 2: all up. So we will take some of your calls

864
00:45:58,600 --> 00:46:00,960
Speaker 2: eight hundred to two to eight two. Will also go

865
00:46:01,239 --> 00:46:03,680
Speaker 2: and take a couple of minutes of President Trump. We're

866
00:46:03,719 --> 00:46:07,280
Speaker 2: scheduled to talk with Jennifer Say about the Supreme Court

867
00:46:07,320 --> 00:46:12,560
Speaker 2: decision that is coming now on trans athletes, in particular

868
00:46:12,680 --> 00:46:15,400
Speaker 2: on boys trying to pretend to be girls to compete

869
00:46:15,440 --> 00:46:18,319
Speaker 2: in girls sports. We will discuss that and more, but

870
00:46:18,360 --> 00:46:19,640
Speaker 2: I want to tell you I got to pick for

871
00:46:19,800 --> 00:46:23,160
Speaker 2: you on Prize Picks. Buck, get your pen out. This

872
00:46:23,200 --> 00:46:26,239
Speaker 2: one's gonna win. Pays out at nearly two to one.

873
00:46:27,000 --> 00:46:31,920
Speaker 2: Divisional Round Playoffs. Brock Purty more than one half touchdown,

874
00:46:32,440 --> 00:46:37,120
Speaker 2: Drake May more than one half touchdown, Josh Allen more

875
00:46:37,200 --> 00:46:40,200
Speaker 2: than one half touchdown, and bow Knicks more than one

876
00:46:40,239 --> 00:46:41,040
Speaker 2: half touchdown.

877
00:46:41,280 --> 00:46:43,400
Speaker 1: I'm picking this one super easy.

878
00:46:43,680 --> 00:46:46,640
Speaker 2: Each of these guys are gonna throw at least one

879
00:46:46,760 --> 00:46:50,399
Speaker 2: touchdown pass. That is one touchdown pass. If I'm right,

880
00:46:50,719 --> 00:46:54,319
Speaker 2: it pays out at two to one. That's Brock Perty, Drake, May,

881
00:46:54,680 --> 00:46:59,120
Speaker 2: Josh Allen, bow Knicks. Four quarterbacks playing on Saturday or

882
00:46:59,160 --> 00:47:02,040
Speaker 2: Sunday as a part of the four divisional round playoff

883
00:47:02,080 --> 00:47:05,439
Speaker 2: games in the NFL. Get hooked up two to one.

884
00:47:06,000 --> 00:47:10,480
Speaker 2: Brock Perty, Drake, May, Josh Allen, bo Nix do it today.

885
00:47:10,719 --> 00:47:13,880
Speaker 2: Pricepicks dot Com, My name Clay. You can play in

886
00:47:13,920 --> 00:47:17,000
Speaker 2: all fifty states. You can play along with US five

887
00:47:17,080 --> 00:47:21,160
Speaker 2: dollars when you play five, you get fifty dollars deposited

888
00:47:21,280 --> 00:47:25,280
Speaker 2: in your account. That is pricepicks dot Com. My name's Clay,

889
00:47:25,560 --> 00:47:28,160
Speaker 2: pricepicks dot Com slash Clay. If you want to go

890
00:47:28,239 --> 00:47:30,719
Speaker 2: in that way, download the app put in my name

891
00:47:30,840 --> 00:47:34,600
Speaker 2: cla Y. You get fifty bucks in all fifty states

892
00:47:34,680 --> 00:47:38,880
Speaker 2: when you sign up and play five dollars at price Picks.

893
00:47:40,320 --> 00:47:45,080
Speaker 6: Clay Travis and Buck Sexton Mike drops that never sounded

894
00:47:45,239 --> 00:47:49,120
Speaker 6: so good. Find them on the free iHeartRadio app or

895
00:47:49,200 --> 00:47:51,080
Speaker 6: wherever you get your podcasts.

896
00:47:51,239 --> 00:47:54,359
Speaker 1: Welcome back in to Clay and Buck. We are now

897
00:47:54,480 --> 00:47:57,880
Speaker 1: joined by Jennifer Say. She's the founder of exshack x

898
00:47:58,080 --> 00:48:03,160
Speaker 1: Y Clothing and Jennifer, appreciate you making the time for us.

899
00:48:04,040 --> 00:48:05,640
Speaker 5: Thanks for having me guys.

900
00:48:06,000 --> 00:48:10,080
Speaker 1: So you are building a brand with fantastic apparel. In

901
00:48:10,160 --> 00:48:14,960
Speaker 1: my dad, I work frequently where you take this very

902
00:48:15,040 --> 00:48:19,240
Speaker 1: controversial position that for women's sports to thrive, it should

903
00:48:19,239 --> 00:48:22,759
Speaker 1: actually be for women, and this shouldn't be controversial at all,

904
00:48:22,800 --> 00:48:26,719
Speaker 1: but it is so crazy that we actually now have

905
00:48:26,880 --> 00:48:30,000
Speaker 1: a Supreme Court situation playing out. Did you get a

906
00:48:30,080 --> 00:48:32,600
Speaker 1: chance to hear any of the arguments today or do

907
00:48:32,680 --> 00:48:35,600
Speaker 1: you just feel like you've heard it all before, because

908
00:48:35,800 --> 00:48:39,120
Speaker 1: this is where you're constantly in the fight and in

909
00:48:39,160 --> 00:48:39,560
Speaker 1: the fray.

910
00:48:42,040 --> 00:48:43,799
Speaker 5: I did not get a chance to hear any of

911
00:48:43,800 --> 00:48:46,240
Speaker 5: the arguments. I was on the steps of the Supreme

912
00:48:46,280 --> 00:48:50,240
Speaker 5: Court for the rally. There was an amazing lineup of speakers.

913
00:48:50,800 --> 00:48:54,080
Speaker 5: Riley Gaines spoke first, and gosh, there were so many

914
00:48:54,160 --> 00:48:57,680
Speaker 5: other young female athletes who've been standing up for fairness

915
00:48:58,239 --> 00:49:02,319
Speaker 5: and frankly, just reality. So I did not get a

916
00:49:02,440 --> 00:49:05,319
Speaker 5: chance to hear any of the arguments. I read some

917
00:49:05,360 --> 00:49:08,120
Speaker 5: of the recaps. I spoke maybe about a half an

918
00:49:08,120 --> 00:49:10,520
Speaker 5: hour ago at the same rally. I've heard all the

919
00:49:10,600 --> 00:49:14,080
Speaker 5: arguments before. The arguments make no sense. This isn't complicated.

920
00:49:14,640 --> 00:49:17,319
Speaker 5: There are two sexes, there's one truth. There are men

921
00:49:17,400 --> 00:49:22,040
Speaker 5: and women, and title line was created to recognize the

922
00:49:22,080 --> 00:49:25,120
Speaker 5: biological differences between men and women and to ensure that

923
00:49:25,200 --> 00:49:29,000
Speaker 5: girls and women have equal opportunity through sports. It's not complicated.

924
00:49:29,040 --> 00:49:31,920
Speaker 5: And you know now they're arguing that title Mine's intent

925
00:49:32,120 --> 00:49:35,400
Speaker 5: was about gender identity, which it never was. It's all

926
00:49:35,480 --> 00:49:38,400
Speaker 5: so stupid. I mean, I just can't it's so dumb.

927
00:49:39,520 --> 00:49:43,560
Speaker 5: But it's also critically important that we win these cases.

928
00:49:44,040 --> 00:49:45,759
Speaker 5: And you know I would just add one thing. We're

929
00:49:45,840 --> 00:49:48,120
Speaker 5: sort of fighting for the bare minimum here. All it

930
00:49:48,160 --> 00:49:50,600
Speaker 5: means if we win these cases is that the twenty

931
00:49:50,640 --> 00:49:53,120
Speaker 5: seven states that have laws on the books protecting women's

932
00:49:53,120 --> 00:49:55,560
Speaker 5: sports can continue to do so. It doesn't solve the

933
00:49:55,640 --> 00:49:58,080
Speaker 5: problem in the other twenty three states.

934
00:49:58,480 --> 00:50:01,440
Speaker 2: What's play cut their three. I want you to be

935
00:50:01,480 --> 00:50:03,680
Speaker 2: able to hear it. Thanks for coming on with it, Jennifer,

936
00:50:03,680 --> 00:50:06,840
Speaker 2: I know how busy your day is. Here is Katanji

937
00:50:06,880 --> 00:50:11,160
Speaker 2: Brown Jackson suggesting it's not important to define what a

938
00:50:11,239 --> 00:50:14,520
Speaker 2: woman is when it comes to men and women's sports

939
00:50:14,600 --> 00:50:15,479
Speaker 2: cut thirty three.

940
00:50:15,680 --> 00:50:19,960
Speaker 7: You have the overarching classification. You know, everybody has to

941
00:50:20,000 --> 00:50:23,399
Speaker 7: be play on the team that is the same as

942
00:50:23,400 --> 00:50:27,280
Speaker 7: their sex at birth. But then you have a gender

943
00:50:27,320 --> 00:50:31,600
Speaker 7: identity definition that is operating within that meaning a distinction,

944
00:50:31,920 --> 00:50:36,760
Speaker 7: meaning that for cis ginger girls, they can play consistent

945
00:50:36,800 --> 00:50:40,799
Speaker 7: with their gender identity, for transgender girls they can't.

946
00:50:41,120 --> 00:50:44,160
Speaker 8: So I think that okay. As to the part about

947
00:50:44,239 --> 00:50:46,759
Speaker 8: your ability to pass over from boy to girl, yes

948
00:50:46,840 --> 00:50:48,359
Speaker 8: you can go from one way, but not the other.

949
00:50:48,840 --> 00:50:51,240
Speaker 8: I want to be clear that BPJ is not challenging

950
00:50:51,280 --> 00:50:54,160
Speaker 8: that specific classification. I think that's important to start with.

951
00:50:54,480 --> 00:50:56,960
Speaker 8: But I think, if anything, that's useful evidence as to

952
00:50:57,040 --> 00:51:00,960
Speaker 8: the lack of a transgender based discrimination, because if the

953
00:51:01,040 --> 00:51:03,560
Speaker 8: legislature were just sort of unsettled by the notion of

954
00:51:03,600 --> 00:51:06,279
Speaker 8: transgender athletes, I think the answer would have been to

955
00:51:06,360 --> 00:51:08,799
Speaker 8: then far them from you. I appreciate that.

956
00:51:09,160 --> 00:51:09,719
Speaker 1: I appreciate that.

957
00:51:09,760 --> 00:51:12,840
Speaker 7: I guess I was getting at the but I understood

958
00:51:12,840 --> 00:51:15,239
Speaker 7: the Chief Justice to be trying to we.

959
00:51:15,239 --> 00:51:19,800
Speaker 2: Can cut her off here, Jennifer, you worked and lived

960
00:51:19,800 --> 00:51:21,640
Speaker 2: in San Francisco for a long time.

961
00:51:22,200 --> 00:51:23,719
Speaker 1: Did you ever think.

962
00:51:23,600 --> 00:51:26,360
Speaker 2: That the left in this country would descend to the

963
00:51:26,440 --> 00:51:31,879
Speaker 2: point where arguing that men's and women's sports should be

964
00:51:31,920 --> 00:51:38,600
Speaker 2: defined by gender is an unacceptable way to characterize sports.

965
00:51:38,640 --> 00:51:40,080
Speaker 1: I mean, a part of me.

966
00:51:40,120 --> 00:51:42,680
Speaker 2: Is just in disbelief that we have a Supreme Court

967
00:51:42,800 --> 00:51:45,600
Speaker 2: case about this. Are you as blown away by that

968
00:51:45,719 --> 00:51:48,200
Speaker 2: as I am?

969
00:51:48,760 --> 00:51:52,640
Speaker 5: Mean I am if I take a step back and say,

970
00:51:52,680 --> 00:51:55,600
Speaker 5: this is so ridiculous. Obviously there are only two sexes.

971
00:51:55,800 --> 00:51:58,720
Speaker 5: Text is not assigned at birth. Gender identity is a fiction,

972
00:52:00,000 --> 00:52:02,760
Speaker 5: doesn't matter, It has no relevance in defining what women's

973
00:52:02,800 --> 00:52:07,040
Speaker 5: sports are. So yeah, but I'm not blown away when

974
00:52:07,080 --> 00:52:10,719
Speaker 5: I think about what I do every day and the

975
00:52:10,760 --> 00:52:13,400
Speaker 5: pushback I get, and what Riley's been doing for the

976
00:52:13,480 --> 00:52:19,560
Speaker 5: last four years and what many far left women, frankly

977
00:52:19,719 --> 00:52:21,680
Speaker 5: the urfs as they are known, have been doing for

978
00:52:21,719 --> 00:52:24,520
Speaker 5: over a decade. So I mean it's shocking and not

979
00:52:24,600 --> 00:52:27,359
Speaker 5: shocking at the same time. And you know, I would

980
00:52:27,400 --> 00:52:31,240
Speaker 5: I would just say, you know, being the only person

981
00:52:31,239 --> 00:52:33,600
Speaker 5: there at the rally today, you know, sort of representing

982
00:52:33,640 --> 00:52:35,920
Speaker 5: an organization that's not a non profit but a brand.

983
00:52:36,719 --> 00:52:40,160
Speaker 5: We have we ceded the culture to these crazy people

984
00:52:40,280 --> 00:52:44,280
Speaker 5: for the last twenty years, and there's no other reason.

985
00:52:44,360 --> 00:52:46,799
Speaker 5: They sort of captured the culture with this fiction that

986
00:52:46,880 --> 00:52:50,120
Speaker 5: there's you know, seventeen seventy two genders and sex isn't

987
00:52:50,200 --> 00:52:53,640
Speaker 5: real and these boys feelings and how they feel about

988
00:52:53,640 --> 00:52:56,839
Speaker 5: their quote unquote gender matter more than girls rights. I mean,

989
00:52:56,840 --> 00:53:00,000
Speaker 5: it's an absurdity, but it's infiltrated the culture and it's

990
00:53:00,320 --> 00:53:02,839
Speaker 5: hearts and minds, and we've got to rest it back

991
00:53:02,880 --> 00:53:05,439
Speaker 5: with the full force it was taken from us. That's

992
00:53:05,480 --> 00:53:07,680
Speaker 5: the only way, even if we win these cases, we're

993
00:53:07,680 --> 00:53:09,759
Speaker 5: going to get the other twenty three states, is if

994
00:53:09,840 --> 00:53:12,440
Speaker 5: every mom and dad in America and every female athlete

995
00:53:12,440 --> 00:53:15,280
Speaker 5: that's competing stands up and says this is so stupid.

996
00:53:15,920 --> 00:53:19,160
Speaker 5: I'm not doing this. We deserve our own sports and spaces.

997
00:53:19,160 --> 00:53:21,640
Speaker 5: But here so yes, I'm shocked and I'm not at

998
00:53:21,680 --> 00:53:23,200
Speaker 5: the same time. I mean, I'm sure you feel the

999
00:53:23,239 --> 00:53:23,680
Speaker 5: same way.

1000
00:53:23,960 --> 00:53:24,240
Speaker 3: Clay.

1001
00:53:25,280 --> 00:53:29,920
Speaker 1: Oh yeah. I got to say it's remarkable that Jennifer,

1002
00:53:30,120 --> 00:53:32,160
Speaker 1: this has gotten to the point, this issue on what

1003
00:53:32,200 --> 00:53:37,120
Speaker 1: I call gender communism, where they have pushed this to

1004
00:53:37,239 --> 00:53:40,640
Speaker 1: the extremes that were warned about years and decades ago,

1005
00:53:40,840 --> 00:53:43,840
Speaker 1: such that you know, you have had like a biological

1006
00:53:43,880 --> 00:53:47,480
Speaker 1: male competing against women in mixed martial arts, which is

1007
00:53:47,560 --> 00:53:51,799
Speaker 1: just insane and brutal and dangerous, where you have had

1008
00:53:52,200 --> 00:53:55,759
Speaker 1: biological by the way, I also I hate the terminology here.

1009
00:53:56,000 --> 00:53:59,400
Speaker 1: I don't like that the Supreme Court had Justice Catangi

1010
00:53:59,480 --> 00:54:03,319
Speaker 1: Brown Jackson in saying sis girls and trans girls. There's

1011
00:54:03,360 --> 00:54:06,279
Speaker 1: actually no such thing as trans girls. And really, I

1012
00:54:06,320 --> 00:54:09,760
Speaker 1: think that's the big problem here. Start from premise number one.

1013
00:54:09,880 --> 00:54:13,040
Speaker 1: There are men or boys who think they are women

1014
00:54:13,160 --> 00:54:15,560
Speaker 1: and they are not, and that's the truth. And they

1015
00:54:15,560 --> 00:54:17,080
Speaker 1: can argue about this with us all day, but it

1016
00:54:17,120 --> 00:54:18,040
Speaker 1: won't change the truth.

1017
00:54:20,040 --> 00:54:22,400
Speaker 5: Yeah, I couldn't agree more. We've got to take the

1018
00:54:22,480 --> 00:54:25,080
Speaker 5: language back. We've got to take the culture back and

1019
00:54:25,360 --> 00:54:28,399
Speaker 5: trans is a fiction. Gender identity is a fiction. These

1020
00:54:28,400 --> 00:54:30,520
Speaker 5: are boys who claim to be girls. I'm not even

1021
00:54:30,560 --> 00:54:32,440
Speaker 5: going to go along with think they are girls. They

1022
00:54:32,480 --> 00:54:35,800
Speaker 5: claim to be girls. They have no place in women's sports.

1023
00:54:35,800 --> 00:54:38,040
Speaker 5: We have all sorts of restrictions in sports. We have

1024
00:54:38,160 --> 00:54:43,160
Speaker 5: weight classes, we have age classes. You know, yes there

1025
00:54:43,200 --> 00:54:46,759
Speaker 5: are sex classes. If girls have to play against boys,

1026
00:54:47,280 --> 00:54:49,000
Speaker 5: eventually they're going to stop playing.

1027
00:54:49,360 --> 00:54:49,520
Speaker 3: You know.

1028
00:54:49,560 --> 00:54:51,400
Speaker 5: I talked about this today when I spoke on the

1029
00:54:51,400 --> 00:54:53,759
Speaker 5: steps of the Supreme Court. I was a gymnast as

1030
00:54:53,800 --> 00:54:56,239
Speaker 5: a young person, a seven time national team member, came

1031
00:54:56,239 --> 00:54:59,160
Speaker 5: back from all manner of injuries, everything from broken ankles

1032
00:54:59,160 --> 00:55:01,600
Speaker 5: and broken femurs. I came back to win. I never

1033
00:55:01,640 --> 00:55:03,400
Speaker 5: gave up. But if I knew the deck was stacked

1034
00:55:03,400 --> 00:55:05,400
Speaker 5: against me from the beginning, if I knew that I

1035
00:55:05,440 --> 00:55:07,239
Speaker 5: had to compete against boys, I think I would have

1036
00:55:07,239 --> 00:55:10,040
Speaker 5: given up. And we are telling girls every single day

1037
00:55:10,040 --> 00:55:12,160
Speaker 5: that they don't matter enough to fight for that they

1038
00:55:12,160 --> 00:55:14,359
Speaker 5: need to sit down and be quiet and just let

1039
00:55:14,400 --> 00:55:16,279
Speaker 5: that boy who claims to be a girl have what

1040
00:55:16,400 --> 00:55:18,640
Speaker 5: he wants. Why are you being so mean? That's what

1041
00:55:18,680 --> 00:55:22,040
Speaker 5: we're telling girls. That's the message we're sending them. That's

1042
00:55:22,040 --> 00:55:24,200
Speaker 5: what I can't believe. You know, I started Dymountis two

1043
00:55:24,280 --> 00:55:26,799
Speaker 5: years after Title nine passed. I thought we did this,

1044
00:55:27,239 --> 00:55:29,960
Speaker 5: I thought we were done, and yet yet here we are,

1045
00:55:30,040 --> 00:55:32,759
Speaker 5: and we're telling girls they need to be quiet and

1046
00:55:32,800 --> 00:55:35,160
Speaker 5: let boys have what they want. I mean, it really

1047
00:55:35,239 --> 00:55:38,480
Speaker 5: is misogyny and address there's no other way to describe it.

1048
00:55:39,760 --> 00:55:44,360
Speaker 2: Jennifer Buck and I were discussing this what happens. What

1049
00:55:44,600 --> 00:55:50,839
Speaker 2: happens in your mind if if this case has decided six',

1050
00:55:50,960 --> 00:55:54,600
Speaker 2: three which CRAZILY i think it's likely to, be Do

1051
00:55:54,719 --> 00:55:58,480
Speaker 2: democrats step off of crazy train and, say, okay, well

1052
00:55:58,520 --> 00:56:01,120
Speaker 2: The Supreme court has now DECIDE i did. This we're

1053
00:56:01,120 --> 00:56:03,680
Speaker 2: not going to continue to fight about? It or do

1054
00:56:03,760 --> 00:56:06,880
Speaker 2: you think this battle is going to continue into the

1055
00:56:06,920 --> 00:56:13,560
Speaker 2: future as a part of the Standard democrat. ORTHODOXY i think.

1056
00:56:13,400 --> 00:56:17,160
Speaker 5: It's going to. Continue. CLAY i, mean you're a. LAWYER

1057
00:56:17,239 --> 00:56:19,480
Speaker 5: i guess this is a culture, question though just as

1058
00:56:19,600 --> 00:56:23,680
Speaker 5: MUCH i believe the twenty three states Push, WASHINGTON dc

1059
00:56:23,840 --> 00:56:26,359
Speaker 5: that currently allow boys to compete in girls' sports are

1060
00:56:26,400 --> 00:56:30,040
Speaker 5: going to double, down and they really have convinced themselves

1061
00:56:30,320 --> 00:56:32,520
Speaker 5: that this fiction is a truth and that they are

1062
00:56:32,520 --> 00:56:37,680
Speaker 5: the civil rights. Warriors they feel very morally superior in

1063
00:56:37,760 --> 00:56:41,160
Speaker 5: allowing boys to trample girls, rights AND i THINK i

1064
00:56:41,160 --> 00:56:42,960
Speaker 5: think they're going to double. DOWN i don't think this

1065
00:56:43,080 --> 00:56:47,880
Speaker 5: goes away anytime. Soon that, SAID i think this, decision

1066
00:56:48,160 --> 00:56:49,759
Speaker 5: if it goes our way AND i agree with, YOU

1067
00:56:49,800 --> 00:56:51,480
Speaker 5: i think it'll be six to. Three although some of

1068
00:56:51,520 --> 00:56:53,759
Speaker 5: the ages are claiming nine, zero that's never going to,

1069
00:56:53,840 --> 00:56:58,000
Speaker 5: happen especially as you, know play That Patanji Brown jackson

1070
00:56:58,000 --> 00:57:02,239
Speaker 5: clip for. ME i think more people will be comfortable

1071
00:57:02,280 --> 00:57:08,000
Speaker 5: and confident standing up and saying biology is. Real you,

1072
00:57:08,000 --> 00:57:11,399
Speaker 5: know this is a ninety ten. Issue i'm, right most

1073
00:57:11,400 --> 00:57:13,839
Speaker 5: people agree with, us even In, california and yet most

1074
00:57:13,880 --> 00:57:17,760
Speaker 5: people are silent on it because they're afraid. THAT i

1075
00:57:17,760 --> 00:57:20,880
Speaker 5: think a decision that leads our way is going to

1076
00:57:20,920 --> 00:57:24,040
Speaker 5: give some more people the confidence to stand up and,

1077
00:57:24,040 --> 00:57:25,800
Speaker 5: fight AND i think we're going to have To wasige

1078
00:57:25,880 --> 00:57:28,000
Speaker 5: the last part of this battle on the cultural.

1079
00:57:28,080 --> 00:57:31,520
Speaker 2: LINE i will say The Washington, POST i read some

1080
00:57:31,640 --> 00:57:35,320
Speaker 2: of the clips from their, editorial was staggering to me

1081
00:57:35,560 --> 00:57:39,520
Speaker 2: that they would acknowledge the cultural shift and represented. THERE

1082
00:57:39,880 --> 00:57:41,800
Speaker 2: i do think this is important too for people out

1083
00:57:41,800 --> 00:57:44,080
Speaker 2: there that are super fired up and furious about.

1084
00:57:44,080 --> 00:57:45,400
Speaker 1: This your.

1085
00:57:45,520 --> 00:57:48,080
Speaker 2: Brand if you're a woman right now and you are

1086
00:57:48,120 --> 00:57:52,320
Speaker 2: listening to, us and you are wearing athlete athletic leisure, wear,

1087
00:57:52,520 --> 00:57:58,600
Speaker 2: athleisure your brand is defining itself by, saying, hey women's

1088
00:57:58,600 --> 00:58:01,800
Speaker 2: sports should be played by. Women and it's the only

1089
00:58:02,000 --> 00:58:05,480
Speaker 2: athletic brand In america that's even willing to say. That

1090
00:58:05,600 --> 00:58:08,320
Speaker 2: where my wife wears this gear all the. Time buck

1091
00:58:08,360 --> 00:58:10,960
Speaker 2: has got. Some they have men's gear, Too but for

1092
00:58:11,000 --> 00:58:13,480
Speaker 2: the women out there in, particular or the men that

1093
00:58:13,560 --> 00:58:16,360
Speaker 2: maybe want to buy gear for their, wives where can

1094
00:58:16,400 --> 00:58:21,200
Speaker 2: they go to register in an economic way their disapproval

1095
00:58:21,200 --> 00:58:24,120
Speaker 2: with The nikes of the world trying to, argue, hey

1096
00:58:24,640 --> 00:58:26,640
Speaker 2: dude in a sports bras just as much of a

1097
00:58:26,640 --> 00:58:27,520
Speaker 2: woman as everybody.

1098
00:58:27,600 --> 00:58:31,880
Speaker 5: Else, Right, yeah all those other brands you're alluding, to

1099
00:58:31,960 --> 00:58:34,360
Speaker 5: whether It's, Nike, astas they're all on the wrong side of.

1100
00:58:34,360 --> 00:58:36,560
Speaker 5: This they make tons of money off of pretending to

1101
00:58:36,640 --> 00:58:39,960
Speaker 5: champion female, athletes and they're selling women. Down they're selling us.

1102
00:58:40,000 --> 00:58:42,880
Speaker 5: Out so you do need to vote with your. Dollars

1103
00:58:42,920 --> 00:58:46,080
Speaker 5: if you go to The truth fits dot, com that's our.

1104
00:58:46,120 --> 00:58:48,720
Speaker 5: Site you can also find us at xx dash X

1105
00:58:48,880 --> 00:58:51,560
Speaker 5: Y athletics dot com and we have everything you could possibly,

1106
00:58:51,640 --> 00:58:55,040
Speaker 5: want except. Shoes we don't have those. Yet work out,

1107
00:58:55,080 --> 00:58:57,600
Speaker 5: gear we do team. Uniforms if you reach out to us,

1108
00:58:57,640 --> 00:59:01,080
Speaker 5: directly anything you can, want men and, women and we.

1109
00:59:01,160 --> 00:59:01,800
Speaker 3: Do we have to.

1110
00:59:01,800 --> 00:59:04,200
Speaker 5: Vote with our dollars and it's the highest quality. Product

1111
00:59:04,200 --> 00:59:07,360
Speaker 5: you guys both wear, it your wives wear. It it

1112
00:59:07,400 --> 00:59:09,400
Speaker 5: competes with the best brands in the. World that's my.

1113
00:59:09,440 --> 00:59:11,640
Speaker 5: Goal this is not. Merch this is a. Brand we

1114
00:59:11,680 --> 00:59:16,360
Speaker 5: need to give people the opportunity to wear their. VALUES i,

1115
00:59:16,360 --> 00:59:18,800
Speaker 5: mean where the. Truth it was so heartening to. ME

1116
00:59:19,040 --> 00:59:21,080
Speaker 5: i looked out in the crowd on the steps today

1117
00:59:21,160 --> 00:59:23,480
Speaker 5: and so many people were wearing this brand and it

1118
00:59:23,520 --> 00:59:26,960
Speaker 5: really is the symbol that you believe in, reality which is.

1119
00:59:27,040 --> 00:59:30,160
Speaker 1: Cool, amen. Fantastic thank you so, Much. Jennifer keep up

1120
00:59:30,160 --> 00:59:33,200
Speaker 1: the fight and keep selling, great great clothing ON. XXXY

1121
00:59:33,200 --> 00:59:33,960
Speaker 1: i appreciate, You.

1122
00:59:35,480 --> 00:59:36,640
Speaker 5: Thank, you appreciate you.

1123
00:59:36,680 --> 00:59:38,760
Speaker 1: Guys All, Right, CLAY i GOT i got to do

1124
00:59:38,760 --> 00:59:40,480
Speaker 1: a little clean up here for a second on something

1125
00:59:41,360 --> 00:59:44,640
Speaker 1: Because i'm getting all the bankruptcy lawyers in our audience

1126
00:59:44,680 --> 00:59:47,000
Speaker 1: are reaching out to. ME i had said that credit

1127
00:59:47,000 --> 00:59:51,960
Speaker 1: card debt is non. Dischargeable that is not strictly speaking.

1128
00:59:52,000 --> 00:59:57,320
Speaker 1: Accurate but The Bankruptcy Abuse prevention And Consumer Protection act

1129
00:59:57,320 --> 01:00:01,080
Speaker 1: of two thousand and five may credit. Card it used

1130
01:00:01,120 --> 01:00:02,840
Speaker 1: to just be you could declare bankruptcy your credit card

1131
01:00:02,880 --> 01:00:06,320
Speaker 1: debt is. Gone that's not the case. Anymore now they

1132
01:00:06,400 --> 01:00:09,880
Speaker 1: can when you go to bankruptcy, court they can divert

1133
01:00:09,960 --> 01:00:14,360
Speaker 1: you from A chapter seven to A chapter thirteen. Filing and,

1134
01:00:14,440 --> 01:00:21,400
Speaker 1: so what THIS bapkupa LAW bapcpa law did is luxury

1135
01:00:21,440 --> 01:00:25,520
Speaker 1: goods will not be dischargeable in a. Bankruptcy cash advances

1136
01:00:25,640 --> 01:00:29,560
Speaker 1: in certain circumstances not dischargeable In this is all credit card, stuff,

1137
01:00:29,600 --> 01:00:32,040
Speaker 1: Right so if you put luxury goods on your credit

1138
01:00:32,080 --> 01:00:36,760
Speaker 1: card within ninety days of, filing then they say. No

1139
01:00:36,960 --> 01:00:39,480
Speaker 1: so they put all these barriers and you can get

1140
01:00:39,480 --> 01:00:43,720
Speaker 1: into mandatory credit counseling for you to be approved for.

1141
01:00:43,760 --> 01:00:46,640
Speaker 1: Bankruptcy they don't do this for other. Things it's the, Point,

1142
01:00:46,800 --> 01:00:49,520
Speaker 1: Okay so the credit card company has managed to get

1143
01:00:49,560 --> 01:00:53,520
Speaker 1: written into law a whole bunch of additional it's gonna

1144
01:00:53,520 --> 01:00:55,640
Speaker 1: be much harder for you to just walk away from this.

1145
01:00:55,880 --> 01:01:00,120
Speaker 1: Things but, technically, yes it is dischargeable if you you

1146
01:01:00,600 --> 01:01:03,360
Speaker 1: don't hit any of these, thresholds agree to the credit

1147
01:01:03,400 --> 01:01:07,840
Speaker 1: counseling and go through and increase documentation and court. Scrutiny

1148
01:01:08,320 --> 01:01:12,160
Speaker 1: SO i haven't ever done bankruptcy law at. ALL i

1149
01:01:12,160 --> 01:01:15,240
Speaker 1: don't THINK i even took the course in law. School

1150
01:01:15,320 --> 01:01:21,920
Speaker 1: so that's super. Complicated but, uh that law is like divorce.

1151
01:01:22,000 --> 01:01:24,040
Speaker 1: Law the only people get rich from it are the. Lawyers,

1152
01:01:24,600 --> 01:01:29,560
Speaker 1: no that's certainly. True there's a nutritional supplement so prevalent

1153
01:01:29,640 --> 01:01:31,640
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1154
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Speaker 6: Cheep up with the biggest political comeback in world. History

1174
01:02:35,320 --> 01:02:38,880
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1175
01:02:38,960 --> 01:02:40,320
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1176
01:02:40,120 --> 01:02:41,600
Speaker 1: The Week sundays at Noon.

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01:02:41,640 --> 01:02:44,960
Speaker 6: Eastern find it on The iHeartRadio app or wherever you

1178
01:02:45,040 --> 01:02:45,440
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1179
01:02:45,480 --> 01:02:46,200
Speaker 1: Podcasts