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