WEBVTT - Dan Nathan & Stephen Vladeck

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<v Speaker 1>Hi, I'm Molly John Fast and this is Fast Politics,

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<v Speaker 1>where we discussed the top political headlines with some of

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<v Speaker 1>today's best minds.

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<v Speaker 2>And Donald Trump said.

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<v Speaker 1>Today, I suspect I won't be running again unless you

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<v Speaker 1>say he's so good, we have to figure something else out.

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<v Speaker 2>I don't know. I'm with that words.

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<v Speaker 1>We have such a great show for you today on

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<v Speaker 1>the tapes Dan Nathan who talked about inflation, the economy

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<v Speaker 1>that Trump is about to inherit, and all that other

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<v Speaker 1>good stuff. Then we'll talk to Georgetown Law Schools Stephen

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<v Speaker 1>Vladik about how the courts can protect Americans if we

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<v Speaker 1>use them that way.

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<v Speaker 2>But first the news.

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<v Speaker 3>So, Molly, we got a barrage, a veritable cornucopia of

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<v Speaker 3>the weirdest political appointments in presidential history. What do you

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<v Speaker 3>see here?

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<v Speaker 2>Speak for yourself, man.

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<v Speaker 3>What have you seen to the Nine blood Sjungger the

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<v Speaker 3>b are Yes?

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<v Speaker 2>That's right.

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<v Speaker 1>Center for Publicans just found out that Donald Trump is

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<v Speaker 1>planning to nominate Representative Matt Gates of Florida for Attorney general.

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<v Speaker 2>I just want to say one thing here. I don't know.

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<v Speaker 1>Perhaps Republicans will grow a spine and do real confirmation hearings,

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<v Speaker 1>and then we'll see if he can make it to

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<v Speaker 1>ag I'll just tell you, Senator Jony Ernst told The

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<v Speaker 1>New York Times He's really got his work cut out

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<v Speaker 1>for him, chuckling as she spoke. Senator John Cornyn from

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<v Speaker 1>the Great State of Texas raised his eyebrows when reporters

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<v Speaker 1>informed him of mister Trump's choice, and then said, I'm

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<v Speaker 1>still trying to absorb all this, adding I really don't

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<v Speaker 1>know him other than his public persona.

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<v Speaker 2>Now you'll remember Matt.

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<v Speaker 1>Gates, who's just been re elected to his fifth term,

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<v Speaker 1>remains under an ethics investigation. You'll remember that he went

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<v Speaker 1>to war with Kevin McCarthy because he blamed Kevin McCarthy

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<v Speaker 1>for that ethics investigation. Then he did a motion to vacate,

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<v Speaker 1>and Kevin McCarthy lost the speakership this conduct. This ethics

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<v Speaker 1>investigation included allegations of sexual misconduct, illicit drug use as

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<v Speaker 1>opposed to non illistit drug use, sharing inappropriate images or

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<v Speaker 1>videos on the House floor.

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<v Speaker 2>Imagine how bad they have to be.

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<v Speaker 1>To be deemed inappropriate on the House floor, mis Using

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<v Speaker 1>state identification records okay, converting campaign funds to personal use,

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<v Speaker 1>and accepting impermissible gifts under house rules. Mister Gates has

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<v Speaker 1>denied the allegations as political payback and says they are

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<v Speaker 1>built on lies. That is the person that Donald Trump

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<v Speaker 1>wants to be the Attorney general.

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<v Speaker 3>Fun stuff, and then what's great is it gets worse

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<v Speaker 3>with Fox News host Pete Hegsith, who's going to be

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<v Speaker 3>the Defense Secretary, which I know some people thought it

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<v Speaker 3>was going to be Mike Roda, who Matt Gates almost

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<v Speaker 3>had a fistfight with on the congressional flour So I'm

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<v Speaker 3>glad to see maybe their fistfight won't spill it into

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<v Speaker 3>the White House.

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<v Speaker 1>Pete heg Sith hosts the weekend show on Fox Fronts Okay,

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<v Speaker 1>Fox and Friends Weekend, not the first tier Fox and Friends,

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<v Speaker 1>but the weekend show. It's a good friend of Donald Trump's,

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<v Speaker 1>which is basically the main quality that's looked for in

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<v Speaker 1>these government jobs. He is basically most famous for having

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<v Speaker 1>been in the military. And also, and this is where

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<v Speaker 1>it gets really interesting, he said that he has not

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<v Speaker 1>washed his hands for ten years because quote, germs are

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<v Speaker 1>not a real thing. Speaking of Fox and Friends, heg

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<v Speaker 1>Sith said the infectious micro organisms do not exist because

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<v Speaker 1>they could not be seen with the naked eye.

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<v Speaker 2>I inoculate myself.

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<v Speaker 1>This is a person who went to both Harvard and

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<v Speaker 1>Princeton and ladies and gentlemen. He is now going theoretically

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<v Speaker 1>to lead the Department of Defense.

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<v Speaker 3>There's a lot of interesting reactions to this. I might

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<v Speaker 3>add inside the.

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<v Speaker 1>Pentagon, there is no serious experience in the business of

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<v Speaker 1>running the Pentagon or the National Security staff process. But

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<v Speaker 1>I'm trying to retain an open mind and hope that

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<v Speaker 1>fresh ideas. There is no serious experience there's I think

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<v Speaker 1>he means he has no serious experience in the business

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<v Speaker 1>of running the Pentagon or the national security process. But

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<v Speaker 1>I'm trying to retain an open mind and hope that

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<v Speaker 1>fresh ideas could improve things that get pretty stale or retired.

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<v Speaker 1>For star General told CNN that said the common denominator

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<v Speaker 1>is clearly loyalty, and while some loyalty is essential, slavish

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<v Speaker 1>fealty is dangerous.

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<v Speaker 2>I don't know.

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<v Speaker 1>We should just be happy that Judge Piro is not

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<v Speaker 1>the Attorney General.

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<v Speaker 3>The thing we talked about last episode that's so baffling

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<v Speaker 3>to me is they're going to have such a small

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<v Speaker 3>congressional majority and yet Gates is another one that they're

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<v Speaker 3>throwing away the numbers on and at least for a

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<v Speaker 3>few months.

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<v Speaker 1>Speak for yourself, man, I think they're going to have

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<v Speaker 1>I think it'll be six members of Congress that they

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<v Speaker 1>will put in the Trump admin. So either somebody can't

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<v Speaker 1>do math, or they have some plan to fill those

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<v Speaker 1>appointments very very quickly.

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<v Speaker 3>I mean not happening with the least the Phonic seat.

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<v Speaker 1>Lee Zelden is not in Congress anymore, but Stephonic.

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<v Speaker 2>There are a bunch of backbenchers and then.

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<v Speaker 3>Macate molly so also he has appointed Tulci Gabbert as

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<v Speaker 3>head of D and I.

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<v Speaker 2>Yeah, Tulsi Gabert.

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<v Speaker 1>Tolsi Gabert is most famous for I don't know, it's

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<v Speaker 1>hard to talk about this because it's so insane. And again,

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<v Speaker 1>like I know, I've said this before, but this is

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<v Speaker 1>none of this is normal, right, None of this is normal.

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<v Speaker 1>Tulci Gabert, she was a member of Congress. She's basically

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<v Speaker 1>most famous for supporting Trump.

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<v Speaker 3>What are you talking about? She was Tucker Carlson's fill

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<v Speaker 3>in for years, right.

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<v Speaker 1>And I just want to to you a little bit

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<v Speaker 1>from the New York Times The news of missus Gabbard's

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<v Speaker 1>appointment was first revealed by Roger Stone on his ex account.

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<v Speaker 1>Mister Stone, a longtime friend advisor to mister Trump who

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<v Speaker 1>was pardoned by the president in toy twenty posted this

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<v Speaker 1>statement about miss Gabbard and said mister Trump had just

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<v Speaker 1>sent it to him. None of this is normal. This

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<v Speaker 1>is not how any of this is supposed to go.

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<v Speaker 1>This is not how supposed to pick the Department of

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<v Speaker 1>National Intelligence the head of that. There are many, many,

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<v Speaker 1>many government agencies, hardworking, nonpartisan actors who are going to

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<v Speaker 1>serve at the pleasure of missus Gabbard. She would oversee

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<v Speaker 1>eighteen spy agencies and would be responsible for preparing the

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<v Speaker 1>president's daily beef. The one good part about this is

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<v Speaker 1>that there's no way.

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<v Speaker 2>That Donald Trump drops the PDB, so you can put

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<v Speaker 2>whatever you want in there and no one would care.

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<v Speaker 1>Dan Nathan is the host of the On the Tape

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<v Speaker 1>podcast and a c NBC Fast Money contributor. Welcome Back,

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<v Speaker 1>Too Fast Politics, Dan Nathan.

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<v Speaker 4>Molly John Fast. Great to be back with you.

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<v Speaker 2>You know who's wrong about the election?

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<v Speaker 4>Everyone?

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<v Speaker 1>Me?

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<v Speaker 2>Now me.

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<v Speaker 1>I can't speak for everyone. I can only speak for me.

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<v Speaker 1>And I was wrong.

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<v Speaker 4>Listen, everyone was wrong about everything. And you know who

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<v Speaker 4>else was I think wrong again? I think the Trump administrator,

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<v Speaker 4>the Trump campaign was very surprised that they won again.

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<v Speaker 4>And so if you think about your life over the

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<v Speaker 4>last eight years or so, the one thing that you're

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<v Speaker 4>routinely wrong about is Donald J. Trump. Let's just be

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<v Speaker 4>very clear about that.

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<v Speaker 2>Yeah.

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<v Speaker 1>And actually I wrote this piece about everything I got

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<v Speaker 1>wrong and the thing that I was struck because the

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<v Speaker 1>polls were much closer than we thought. But what's interesting

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<v Speaker 1>to me was that the polls were unable yet again,

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<v Speaker 1>Donald Trump was underestimated by the polls.

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<v Speaker 4>Yeah, but for one reason, And I know that's probably

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<v Speaker 4>why you had me on to talk a little bit about,

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<v Speaker 4>you know, the economy and the like. Here, I mean inflation, inflation, inflation,

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<v Speaker 4>And I think you know, I said this on Stephanie

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<v Speaker 4>Ruhl's show the other night. I mean, and I've been

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<v Speaker 4>saying this for a year. I've said it on your show.

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<v Speaker 4>The sarrogates that the Biden administration had about the economy

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<v Speaker 4>were so bad. If you just think about the progress

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<v Speaker 4>that has been made over the last couple of years

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<v Speaker 4>as it relates to inflation. The CPI was above nine

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<v Speaker 4>percent in the summer of twenty twenty two. It's now

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<v Speaker 4>below three percent. Economic growth GDP is up near three percent.

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<v Speaker 4>That's way above the pre pandemic highs. You know, unemployment

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<v Speaker 4>is down near fifty year lows. You think about that

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<v Speaker 4>combination here. They had a lot of really good things

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<v Speaker 4>to talk about. They just could not break through. They

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<v Speaker 4>did not have the right people discussing. And I'll just

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<v Speaker 4>say one last thing, you know, I heard two weeks

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<v Speaker 4>before the election, Mark Cuban was on a very widely

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<v Speaker 4>listened to podcast, Sam Harris. I don't know if you

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<v Speaker 4>listen to Making Sense, okay, And no one's brought up

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<v Speaker 4>Sam Harris, as they've been spending a lot of time

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<v Speaker 4>talking about out you know, Joe Rogan and what Trump

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<v Speaker 4>did there. He gave a master class on the economy.

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<v Speaker 4>He gave a master class on why inflation was, you know,

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<v Speaker 4>elevated the way it was post one hundred year storm,

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<v Speaker 4>which was the pandemic. You know, broken supply chains, you know,

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<v Speaker 4>super like crazy demand for certain things. And it really

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<v Speaker 4>wasn't in the administration's fault. It's happened globally, and so

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<v Speaker 4>just their inability to articulate that. Why has Mark Cuban

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<v Speaker 4>able to do it in forty five minutes on a

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<v Speaker 4>podcast in a way that nobody in the administration or

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<v Speaker 4>in the Harris campaign could do.

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<v Speaker 1>No, I know, And they didn't even contact him until

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<v Speaker 1>someone put them together with him, but I don't know who.

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<v Speaker 2>And you know, before that, no one had even reached

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<v Speaker 2>out to him.

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<v Speaker 1>I mean, I don't want to Monday Morning quarterback here,

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<v Speaker 1>but I do think if Democrats are going to ever

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<v Speaker 1>win another election, they have to go on everything all

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<v Speaker 1>the time.

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<v Speaker 2>I mean, that's what Trump did.

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<v Speaker 4>This is a good example, though, Molly, and again, you know,

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<v Speaker 4>going back and trying to figure it all out doesn't

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<v Speaker 4>make a lot of sense because folks like you and me,

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<v Speaker 4>we're super confident about what the likely outcome of this was,

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<v Speaker 4>because if you just looked at all the momentum, if

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<v Speaker 4>you looked at just the vibes, and again, I think

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<v Speaker 4>the vibes are really hurting us, you know, in many

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<v Speaker 4>many different ways here and the folks, you know, we're

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<v Speaker 4>so focused on things that had nothing to do with

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<v Speaker 4>the pocketbook of most Americans, and that's the problem. And

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<v Speaker 4>so when I go back and I look at this,

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<v Speaker 4>and you know, from an economic standpoint, I think about

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<v Speaker 4>inflationary pressures and make no mistake about it. You know,

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<v Speaker 4>the cumulative effects of inflation are really hard on working

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<v Speaker 4>class people. I get that. But they never articulated away

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<v Speaker 4>how they were going to prove that. And here's a

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<v Speaker 4>great example. This was policy over politics. Okay, the politics

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<v Speaker 4>of the Harris campaign just didn't get the message across.

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<v Speaker 4>And the policy articulated by the Trump campaign was speaking

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<v Speaker 4>to these people whether they're going to follow through on

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<v Speaker 4>any of it or not. And there's a really great

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<v Speaker 4>argument to be made that if they do follow us

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<v Speaker 4>through on the policy, then it's just going to reignite inflation,

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<v Speaker 4>and it's going to hurt the very people that migrated

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<v Speaker 4>over towards voting for Trump because they wanted help on

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<v Speaker 4>the economy.

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<v Speaker 2>That's right. We don't know how long that'll take, right Well, I.

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<v Speaker 4>Mean, listen, here's one thing that we do know. Like

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<v Speaker 4>promises made, promises kept. That's what they kept on saying.

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<v Speaker 4>All right, Well, they said they're going to hit China

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<v Speaker 4>with some very very stiff tariffs. We already have some

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<v Speaker 4>big tariffs on China right there. You put that on

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<v Speaker 4>exports from China, that just makes it for consumers, for

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<v Speaker 4>manufacturers here, it makes the cost of those goods go

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<v Speaker 4>higher for us, and therefore it's money taken out of

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<v Speaker 4>our pockets. It's not coming out of China and going

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<v Speaker 4>right into our treasury. Right. They've also talked about extending

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<v Speaker 4>the tax cuts you know, from twenty seventeen, that will

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<v Speaker 4>basically go into the rest of this four year period,

0:11:42.320 --> 0:11:45.080
<v Speaker 4>and that is also going to be inflationary, right. And

0:11:45.120 --> 0:11:47.920
<v Speaker 4>then you think about the other thing about mass deportation.

0:11:48.320 --> 0:11:50.600
<v Speaker 4>You take a lot of those workers right out of

0:11:50.600 --> 0:11:53.560
<v Speaker 4>our economy, then you're going to see wages go higher.

0:11:53.600 --> 0:11:56.320
<v Speaker 4>That's going to get embedded in the cost of things,

0:11:56.360 --> 0:11:58.880
<v Speaker 4>the cost of doing business here if you're a manufacturer

0:11:58.960 --> 0:12:01.320
<v Speaker 4>or anything like that, and therefore you're going to have

0:12:01.440 --> 0:12:03.720
<v Speaker 4>major inflationary pressures from those three things.

0:12:03.800 --> 0:12:05.040
<v Speaker 2>Yes, that's right.

0:12:05.160 --> 0:12:07.200
<v Speaker 4>Yeah, And so the knock on effect is also that

0:12:07.320 --> 0:12:10.040
<v Speaker 4>interest rates that started to go down because the economy

0:12:10.120 --> 0:12:11.760
<v Speaker 4>was doing better and the Fed was going to be

0:12:11.760 --> 0:12:14.240
<v Speaker 4>able to normalize interest rates, they're going to go back up.

0:12:14.280 --> 0:12:17.400
<v Speaker 4>The US dollar is at fifty two week highs right now,

0:12:17.440 --> 0:12:20.520
<v Speaker 4>so it's basically going higher because of the threat of

0:12:20.840 --> 0:12:23.800
<v Speaker 4>future inflation. So all the sorts of things that you know,

0:12:23.840 --> 0:12:25.920
<v Speaker 4>Trump ran on about how he was going to fix

0:12:25.960 --> 0:12:28.600
<v Speaker 4>the economy. The economy was just fine. So what's going

0:12:28.640 --> 0:12:31.040
<v Speaker 4>to happen is if he follows through on these policies,

0:12:31.280 --> 0:12:33.880
<v Speaker 4>it's basically going to reignite inflation. It's going to be

0:12:33.880 --> 0:12:35.320
<v Speaker 4>really hard on the working class people.

0:12:35.440 --> 0:12:38.120
<v Speaker 2>Right, But I was told you would fix inflation.

0:12:38.559 --> 0:12:40.360
<v Speaker 4>Well he told you that, right, and so he made

0:12:40.360 --> 0:12:43.079
<v Speaker 4>a lot of promises over the course of his campaign.

0:12:43.280 --> 0:12:46.760
<v Speaker 4>What really frustrates me, Molly, is that Republicans over the

0:12:46.840 --> 0:12:50.240
<v Speaker 4>last twenty years have convinced working class people to routinely

0:12:50.320 --> 0:12:54.160
<v Speaker 4>vote against their best interests. And it's not just economic, right. So, yeah,

0:12:54.240 --> 0:12:57.439
<v Speaker 4>you could say that those those tax custs of twenty seventeen,

0:12:57.720 --> 0:12:59.959
<v Speaker 4>you know, they basically borrowed a trillion a half dollars

0:13:00.120 --> 0:13:03.080
<v Speaker 4>from the future. They gave it to corporations, they gave

0:13:03.080 --> 0:13:05.240
<v Speaker 4>it to very wealthy people. And you know what happened

0:13:05.280 --> 0:13:08.280
<v Speaker 4>with that, corporations bought back their own stock to the

0:13:08.360 --> 0:13:10.760
<v Speaker 4>tune of one and a half trillion dollars over a

0:13:10.800 --> 0:13:13.440
<v Speaker 4>couple of years after those tax cuts went in effect,

0:13:13.480 --> 0:13:15.920
<v Speaker 4>and it's not just you know, economic stuff. I mean,

0:13:16.000 --> 0:13:17.800
<v Speaker 4>just think of the fact that one of the first

0:13:17.800 --> 0:13:19.400
<v Speaker 4>things that Trump wanted to do when he got an

0:13:19.440 --> 0:13:23.040
<v Speaker 4>office in twenty seventeen, he wanted to repeal Obamacare. It

0:13:23.120 --> 0:13:26.280
<v Speaker 4>was one of the most important legislations of the last

0:13:26.360 --> 0:13:28.719
<v Speaker 4>fifty years as it relates to working class people and

0:13:28.760 --> 0:13:31.160
<v Speaker 4>their access to healthcare. They wanted to kill that. Now

0:13:31.160 --> 0:13:33.760
<v Speaker 4>they want to kill student debt relief. Right. They want

0:13:33.760 --> 0:13:36.079
<v Speaker 4>to kill the Department of Education. How do you get

0:13:36.120 --> 0:13:38.640
<v Speaker 4>ahead in the economy if you don't have a proper

0:13:39.000 --> 0:13:42.319
<v Speaker 4>educational sort of structure, right, They want to cut Social Security.

0:13:42.480 --> 0:13:44.160
<v Speaker 4>I mean, the list goes on and on here, and

0:13:44.200 --> 0:13:46.280
<v Speaker 4>I just I don't see how if they follow through

0:13:46.280 --> 0:13:48.200
<v Speaker 4>on any of those promises, how it's going to be

0:13:48.200 --> 0:13:49.720
<v Speaker 4>better for working class people.

0:13:50.080 --> 0:13:52.679
<v Speaker 1>Now, there's no world in which it's better for working

0:13:52.679 --> 0:13:54.400
<v Speaker 1>class people at all.

0:13:54.520 --> 0:13:56.320
<v Speaker 4>Right, And so you know what's going to be a

0:13:56.400 --> 0:13:58.920
<v Speaker 4>voting machine on this is going to be the midterms. Right,

0:13:59.000 --> 0:14:02.120
<v Speaker 4>So if inflation's d high, if middle class or working

0:14:02.120 --> 0:14:04.200
<v Speaker 4>class people don't see the sort of benefits from some

0:14:04.240 --> 0:14:05.880
<v Speaker 4>of the policies that he said he was going to do,

0:14:06.240 --> 0:14:08.200
<v Speaker 4>they're going to have a tough time, especially with that

0:14:08.280 --> 0:14:12.400
<v Speaker 4>narrow lead in the House. Obviously the Senate is increasingly difficult,

0:14:12.520 --> 0:14:15.040
<v Speaker 4>you know, to take back. But again, I just think that,

0:14:15.080 --> 0:14:18.040
<v Speaker 4>you know, the headline today is that the Republicans voted

0:14:18.080 --> 0:14:21.160
<v Speaker 4>for fun to be the majority leader and against the

0:14:21.200 --> 0:14:23.640
<v Speaker 4>will I guess of the Trump folks. And so maybe

0:14:23.680 --> 0:14:26.080
<v Speaker 4>there is this kind of building sort of I don't

0:14:26.120 --> 0:14:27.600
<v Speaker 4>know if you want to call it a firewall. We

0:14:27.720 --> 0:14:30.080
<v Speaker 4>heard all about that in sixteen and seventeen, that there

0:14:30.160 --> 0:14:32.720
<v Speaker 4>was going to be this firewall between you know, Trump

0:14:32.800 --> 0:14:35.200
<v Speaker 4>and basically the means of you know, governing and the

0:14:35.360 --> 0:14:37.320
<v Speaker 4>like here. So maybe that's a good sign. But then

0:14:37.480 --> 0:14:39.160
<v Speaker 4>if you think about all these other people that are

0:14:39.160 --> 0:14:41.960
<v Speaker 4>going to be nominated for these really important cabinet positions,

0:14:42.000 --> 0:14:44.440
<v Speaker 4>it seems like these are a bunch of amateurs.

0:14:44.120 --> 0:14:46.360
<v Speaker 2>Really a bunch of amateurs.

0:14:46.800 --> 0:14:48.960
<v Speaker 4>Well let's call them hacks, right like, when you think

0:14:49.000 --> 0:14:51.200
<v Speaker 4>about it that way, I mean, they're just kind of dangerous.

0:14:51.240 --> 0:14:52.880
<v Speaker 4>When you look at some of the people that are

0:14:52.880 --> 0:14:57.640
<v Speaker 4>being suggested for Secretary of Defense, Secretary of State, Homeland Security,

0:14:57.680 --> 0:15:00.480
<v Speaker 4>I mean, these people they just appear that they want

0:15:00.520 --> 0:15:04.360
<v Speaker 4>to basically rule with grievance the way that he ran

0:15:04.480 --> 0:15:06.680
<v Speaker 4>for office, and you think about, you know, just the

0:15:06.760 --> 0:15:08.480
<v Speaker 4>level of cruelty that they want to kind of put

0:15:08.520 --> 0:15:11.080
<v Speaker 4>in place when you think about mass deportations, you think

0:15:11.080 --> 0:15:14.040
<v Speaker 4>about LGBT rights. I mean, the list goes on and on,

0:15:14.120 --> 0:15:16.240
<v Speaker 4>and you know what, there's not a better example of

0:15:16.280 --> 0:15:18.560
<v Speaker 4>this is like the hundreds of millions of dollars that

0:15:18.600 --> 0:15:21.760
<v Speaker 4>the campaigns spent on this anti trans ad right.

0:15:21.920 --> 0:15:23.560
<v Speaker 2>It worked well, it did work.

0:15:23.600 --> 0:15:25.800
<v Speaker 4>But my point is like that's how I think they're

0:15:25.840 --> 0:15:28.280
<v Speaker 4>going to rule. They're going to continue to kind of

0:15:28.400 --> 0:15:30.640
<v Speaker 4>use these wedge sort of issues and they're going to

0:15:30.720 --> 0:15:34.160
<v Speaker 4>keep dividing the voting blocks here, you know, the people

0:15:34.200 --> 0:15:36.800
<v Speaker 4>in this country. And I just kind of really frustrating me.

0:15:36.840 --> 0:15:38.280
<v Speaker 4>You can see I'm kind of fired up here. I

0:15:38.280 --> 0:15:40.760
<v Speaker 4>haven't had the opportunity to do this on my podcast

0:15:40.760 --> 0:15:42.280
<v Speaker 4>because our people don't want to hear it. They want

0:15:42.320 --> 0:15:44.040
<v Speaker 4>to hear about the economy. They want to hear about markets,

0:15:44.080 --> 0:15:46.040
<v Speaker 4>they want to hear about stocks and the like here.

0:15:46.120 --> 0:15:47.960
<v Speaker 4>But this is something that you know, to me, I

0:15:48.040 --> 0:15:49.880
<v Speaker 4>just think it's an accident waiting to happen again.

0:15:50.040 --> 0:15:51.160
<v Speaker 2>Yeah, oh, no question.

0:15:51.600 --> 0:15:56.160
<v Speaker 1>My biggest anxiety is that the FED will not stay independent.

0:15:56.360 --> 0:15:57.440
<v Speaker 2>Here's a scenario.

0:15:57.840 --> 0:16:01.520
<v Speaker 1>Trump puts in tariffs, Trump ends his tax Scott, it

0:16:01.640 --> 0:16:05.200
<v Speaker 1>is wildly inflationary, Inflation goes up, the FED says We're

0:16:05.200 --> 0:16:05.560
<v Speaker 1>not going to.

0:16:05.680 --> 0:16:09.520
<v Speaker 2>Cut any more rates, and Trump's like, okay, you're fired.

0:16:09.840 --> 0:16:12.240
<v Speaker 4>Yeah. Well, I think it's a very difficult thing for

0:16:12.440 --> 0:16:14.160
<v Speaker 4>him to do that, by the way. I mean, he

0:16:14.200 --> 0:16:16.800
<v Speaker 4>can fire a FED governor, a FED official for cause.

0:16:16.920 --> 0:16:18.960
<v Speaker 4>You know, if you think about the way that Jerome Powell,

0:16:19.040 --> 0:16:22.520
<v Speaker 4>who basically was also nominated by President Trump back in

0:16:22.520 --> 0:16:25.760
<v Speaker 4>twenty and seventeen, he was his pick. Now, obviously he

0:16:25.800 --> 0:16:28.080
<v Speaker 4>gave him a whole heck of a lot of pressure

0:16:28.560 --> 0:16:31.320
<v Speaker 4>when he started normalizing interest rates by raising them in

0:16:31.320 --> 0:16:34.920
<v Speaker 4>twenty and eighteen. But you just made the most important point,

0:16:35.000 --> 0:16:37.640
<v Speaker 4>right when you think about what is likely to happen

0:16:37.760 --> 0:16:40.520
<v Speaker 4>with tariffs and tax cuts and you know, mass deportation.

0:16:40.920 --> 0:16:45.040
<v Speaker 4>If Trump fires Powell and they start pressuring whoever comes in.

0:16:45.000 --> 0:16:46.440
<v Speaker 2>Place, I mean, can he do that?

0:16:46.760 --> 0:16:49.280
<v Speaker 4>Well he probably could. I mean, like, let's think about it, right,

0:16:49.360 --> 0:16:51.240
<v Speaker 4>Like the gloves are off here, I mean, the norms

0:16:51.240 --> 0:16:53.080
<v Speaker 4>are out the window. I mean he's showed us that

0:16:53.160 --> 0:16:56.000
<v Speaker 4>again and again and again, So he could certainly try

0:16:56.000 --> 0:16:58.160
<v Speaker 4>to do it. And then it's up to the Federal

0:16:58.160 --> 0:17:01.080
<v Speaker 4>Reserve or FED Chair Powell himself to kind of bring

0:17:01.160 --> 0:17:03.520
<v Speaker 4>a suit and think about this. You bring any suits

0:17:03.600 --> 0:17:05.920
<v Speaker 4>you want, the higher and higher they go, you get

0:17:05.920 --> 0:17:08.520
<v Speaker 4>to the Supreme Court, which is loaded by Trump anyway.

0:17:08.640 --> 0:17:11.119
<v Speaker 4>So like there's just you know, the guard rails are

0:17:11.160 --> 0:17:12.880
<v Speaker 4>off here, and so I think we have to start

0:17:12.920 --> 0:17:15.960
<v Speaker 4>thinking outside of those norms that we were, you know,

0:17:16.240 --> 0:17:19.680
<v Speaker 4>very well accustomed to leading up to twenty seventeen, and

0:17:19.760 --> 0:17:22.080
<v Speaker 4>they were just absolutely blown out. I think the other

0:17:22.160 --> 0:17:24.400
<v Speaker 4>thing that, you know, there was this sense of inertia

0:17:24.560 --> 0:17:26.800
<v Speaker 4>under the Biden administration. You know, we just didn't get

0:17:26.840 --> 0:17:29.320
<v Speaker 4>a sense for like some of the accomplishments that they

0:17:29.359 --> 0:17:31.960
<v Speaker 4>were doing, and it wasn't made you know, really clear

0:17:32.080 --> 0:17:34.159
<v Speaker 4>to I think most Americans, and we just thought that

0:17:34.240 --> 0:17:37.639
<v Speaker 4>they were just kind of governing, you know, governing in

0:17:38.000 --> 0:17:40.320
<v Speaker 4>a sort of like very quiet way. And now all

0:17:40.320 --> 0:17:42.040
<v Speaker 4>of a sudden, we have a guy back in office

0:17:42.080 --> 0:17:44.719
<v Speaker 4>who's going to make noise every single morning. He's going

0:17:44.760 --> 0:17:47.439
<v Speaker 4>to start to do the sort of chaos by tweet

0:17:47.520 --> 0:17:49.080
<v Speaker 4>or by truth or whatever you want to call it.

0:17:49.320 --> 0:17:52.320
<v Speaker 4>And that sort of uncertainty is really hard. I just

0:17:52.359 --> 0:17:54.520
<v Speaker 4>want to say for businesses as they start.

0:17:54.320 --> 0:17:57.359
<v Speaker 2>Thinking about market hate that right, Well.

0:17:57.400 --> 0:18:01.000
<v Speaker 4>Yes, uncertainty about how they're going to deploy, uncertainly about

0:18:01.040 --> 0:18:02.720
<v Speaker 4>the sort of countries that they're going to be able

0:18:02.960 --> 0:18:04.560
<v Speaker 4>to kind of sell their goods end, where they're going

0:18:04.600 --> 0:18:06.600
<v Speaker 4>to be able to manufacture their goods end, what the

0:18:06.720 --> 0:18:08.760
<v Speaker 4>terrorists are going to look like, again and again. So

0:18:08.960 --> 0:18:11.960
<v Speaker 4>the point about the independence of the central bank is

0:18:12.040 --> 0:18:14.919
<v Speaker 4>that it just has a level of credibility that's away

0:18:14.960 --> 0:18:17.920
<v Speaker 4>from politics. Right, So, the moment that you have a

0:18:18.000 --> 0:18:22.080
<v Speaker 4>political figure like the executive branch, like a president, basically

0:18:22.200 --> 0:18:25.400
<v Speaker 4>making decisions on interest rates, then you have a situation

0:18:25.560 --> 0:18:27.200
<v Speaker 4>where you know there's going to be a lot of

0:18:27.320 --> 0:18:29.280
<v Speaker 4>businesses that are not going to want to do business

0:18:29.359 --> 0:18:32.399
<v Speaker 4>here in the United States because it just seems like

0:18:32.440 --> 0:18:34.680
<v Speaker 4>it's going to be on its way to a Banana Republic.

0:18:34.720 --> 0:18:36.680
<v Speaker 4>And that's not the sort of I think confidence that

0:18:36.760 --> 0:18:38.879
<v Speaker 4>most business people want to have when they're doing business

0:18:38.920 --> 0:18:39.399
<v Speaker 4>in a country.

0:18:39.640 --> 0:18:43.040
<v Speaker 1>Yeah, but a lot of rich people did in fact

0:18:43.240 --> 0:18:45.040
<v Speaker 1>vote for and support Donald Trump.

0:18:45.320 --> 0:18:47.879
<v Speaker 2>So I mean, will they serve as a check on.

0:18:48.160 --> 0:18:50.560
<v Speaker 4>M That's a great question. Okay, I wouldn't expect it

0:18:50.640 --> 0:18:53.440
<v Speaker 4>from Silicon Valley. I wouldn't expect it from Elon Musk.

0:18:53.560 --> 0:18:55.440
<v Speaker 4>I think all those folks you know in the tech

0:18:55.440 --> 0:18:58.399
<v Speaker 4>community and the VC community, and then folks like Elon,

0:18:58.480 --> 0:19:00.200
<v Speaker 4>I think they're in it. They know what they're in for,

0:19:00.440 --> 0:19:02.399
<v Speaker 4>and they're going to let this guy do whatever he wants.

0:19:02.520 --> 0:19:04.800
<v Speaker 4>I will say this about Elon Musk, it's a very

0:19:04.920 --> 0:19:08.399
<v Speaker 4>unique situation. Like, yes, he is the most wealthy man

0:19:08.520 --> 0:19:10.840
<v Speaker 4>in the planet. He's got three hundred billion dollars. He's

0:19:10.880 --> 0:19:14.280
<v Speaker 4>got Tesla that relies on government subsidies, he's got SpaceX

0:19:14.359 --> 0:19:17.200
<v Speaker 4>that relies on government contracts. He has you know, his

0:19:17.400 --> 0:19:20.159
<v Speaker 4>ex you know Twitter sort of thing, which was obviously

0:19:20.280 --> 0:19:23.200
<v Speaker 4>very instrumental in helping Trump get elected. But all of

0:19:23.280 --> 0:19:26.200
<v Speaker 4>those they could have tremendous headwinds from any sort of

0:19:26.240 --> 0:19:28.960
<v Speaker 4>government sort of action. It could be executive action, that

0:19:29.040 --> 0:19:31.440
<v Speaker 4>sort of thing. So Musk on many levels has to

0:19:31.520 --> 0:19:33.680
<v Speaker 4>say on the right side of Trump. And if you

0:19:33.760 --> 0:19:37.200
<v Speaker 4>think about Trump's history with most people who get close

0:19:37.280 --> 0:19:40.560
<v Speaker 4>to him from a governing perspective, it usually ends very bad.

0:19:40.680 --> 0:19:43.160
<v Speaker 4>Now the same is true for Elon Musk, by the way,

0:19:43.240 --> 0:19:46.080
<v Speaker 4>and most of his companies is TEFLA in particular, there's

0:19:46.160 --> 0:19:50.320
<v Speaker 4>been massive, massive turnover. He's a notoriously difficult guy to

0:19:50.440 --> 0:19:52.800
<v Speaker 4>deal with, So I think the tech community is kind

0:19:52.840 --> 0:19:54.800
<v Speaker 4>of screwed. I mean, they know what they're in it for.

0:19:55.240 --> 0:19:57.399
<v Speaker 4>The Wall Street folks. Is kind of interesting to me

0:19:57.600 --> 0:20:00.480
<v Speaker 4>because you know, you look at like Howard Luck Okay,

0:20:00.560 --> 0:20:03.560
<v Speaker 4>he's the head of Kennavic Sderyld. He's running this transition.

0:20:04.000 --> 0:20:06.399
<v Speaker 4>He is like such a B or C player on

0:20:06.520 --> 0:20:08.760
<v Speaker 4>Wall Street. The fact that he was able to work

0:20:08.840 --> 0:20:11.840
<v Speaker 4>his way into this job is very interesting to me.

0:20:11.920 --> 0:20:15.480
<v Speaker 4>That he gets to play kingmaker among Republican politics. You know,

0:20:15.840 --> 0:20:18.520
<v Speaker 4>you won't see guys like Jamie Diamond, the CEO of

0:20:18.640 --> 0:20:21.160
<v Speaker 4>JP Morgan. Yeah, he'll be on some council here and there.

0:20:21.440 --> 0:20:24.400
<v Speaker 4>Might they have some influence on Trump as he thinks

0:20:24.440 --> 0:20:27.360
<v Speaker 4>about tariffs, as he thinks about you know, dollar policy,

0:20:27.480 --> 0:20:30.800
<v Speaker 4>as he thinks about regulation and the like. Maybe, But

0:20:30.920 --> 0:20:33.840
<v Speaker 4>we also know from the first administration that he loved

0:20:34.119 --> 0:20:37.159
<v Speaker 4>bringing those business leaders into the White House, getting the

0:20:37.680 --> 0:20:40.880
<v Speaker 4>photo you know, ops, and then just kind of dismissing them,

0:20:40.960 --> 0:20:42.879
<v Speaker 4>you know, one way or another. So to me, that

0:20:43.240 --> 0:20:46.520
<v Speaker 4>level of kind of pressure from the business community is

0:20:46.640 --> 0:20:48.120
<v Speaker 4>not something that's likely to work.

0:20:48.440 --> 0:20:51.480
<v Speaker 2>Oh, I thought you were going to say it, maybe

0:20:51.600 --> 0:20:52.080
<v Speaker 2>all we have.

0:20:52.920 --> 0:20:54.879
<v Speaker 4>No, I don't think so. Listen, you know, think about this.

0:20:55.080 --> 0:20:58.040
<v Speaker 4>If Jamie Diamond steps on the wrong side of Trump,

0:20:58.080 --> 0:21:00.800
<v Speaker 4>if you, by accident says the wrong thing, there's a

0:21:00.840 --> 0:21:03.800
<v Speaker 4>tweetstorm about the largest bank in the world. Now think

0:21:03.840 --> 0:21:06.320
<v Speaker 4>about this. If you're a CEO of a company like that,

0:21:06.640 --> 0:21:09.320
<v Speaker 4>you have lots of stakeholders that are really important. First

0:21:09.359 --> 0:21:13.880
<v Speaker 4>and foremost you're employees, then your customers, and then your investors, right,

0:21:14.040 --> 0:21:17.320
<v Speaker 4>and so you have a fiduciary responsibility to all of

0:21:17.440 --> 0:21:20.119
<v Speaker 4>those groups there. And so the idea of getting involved

0:21:20.160 --> 0:21:22.720
<v Speaker 4>in politics and being wrongside of one of the most

0:21:22.880 --> 0:21:25.600
<v Speaker 4>vengeful sort of political figures we've ever seen in our life,

0:21:25.920 --> 0:21:28.920
<v Speaker 4>besides like some of the worst authoritarian leaders we've seen

0:21:29.200 --> 0:21:31.760
<v Speaker 4>over the last hundred years and developed countries. I mean,

0:21:31.880 --> 0:21:33.480
<v Speaker 4>I think you have to be very careful. And it

0:21:33.560 --> 0:21:36.919
<v Speaker 4>also goes back to Wednesday, the day after the election.

0:21:37.320 --> 0:21:41.280
<v Speaker 4>Did you see that Satin Nadella Sundra, but Shi Tim Cook,

0:21:41.400 --> 0:21:44.600
<v Speaker 4>all these CEOs of these major tech companies, these more

0:21:45.560 --> 0:21:48.600
<v Speaker 4>co all those congratulates, they want to stay on the

0:21:48.680 --> 0:21:50.960
<v Speaker 4>right side of this thing, and so again this goes

0:21:51.040 --> 0:21:55.280
<v Speaker 4>back to norms. He can't run again. Supposedly he can

0:21:55.359 --> 0:21:57.680
<v Speaker 4>do whatever the hell he wants. He was indicted a

0:21:57.760 --> 0:22:01.200
<v Speaker 4>million times after his last administration. All of those fell

0:22:01.280 --> 0:22:02.960
<v Speaker 4>by the wayside. Do you think he's going to be

0:22:03.000 --> 0:22:04.199
<v Speaker 4>any more restrained right now?

0:22:04.560 --> 0:22:07.159
<v Speaker 1>You're not making me feel better here, Yeah, tell me

0:22:07.320 --> 0:22:09.400
<v Speaker 1>something that makes me feel a little better here.

0:22:09.640 --> 0:22:12.040
<v Speaker 4>Okay, So one thing I'll just say. So. When Trump

0:22:12.119 --> 0:22:15.440
<v Speaker 4>got elected in that big surprise back in twenty sixteen,

0:22:15.640 --> 0:22:18.359
<v Speaker 4>overnight the stock market, they have these futures that trade

0:22:18.400 --> 0:22:21.160
<v Speaker 4>on the stock market, they were down a lot. Okay,

0:22:21.200 --> 0:22:23.560
<v Speaker 4>there were lockdown limit meaning that they put limits in

0:22:23.600 --> 0:22:25.520
<v Speaker 4>place that it can only go down so much when

0:22:25.520 --> 0:22:28.280
<v Speaker 4>it's down, you know a lot, right, And then at

0:22:28.320 --> 0:22:30.560
<v Speaker 4>one point they just started rallying in the morning and

0:22:30.640 --> 0:22:32.720
<v Speaker 4>they kept on going. And then a lot of folks

0:22:32.880 --> 0:22:35.359
<v Speaker 4>just decided that all of these policies are going to

0:22:35.359 --> 0:22:37.040
<v Speaker 4>be good for the stock market, it's going to be

0:22:37.119 --> 0:22:39.280
<v Speaker 4>good for business, that sort of thing. So this time around,

0:22:39.359 --> 0:22:42.240
<v Speaker 4>the stock market was very strong headed into this election.

0:22:42.440 --> 0:22:44.080
<v Speaker 4>You could say that a bit of it had to

0:22:44.160 --> 0:22:46.720
<v Speaker 4>do with the anticipation that he might win. But the

0:22:46.800 --> 0:22:49.800
<v Speaker 4>economy how we started this conversation was also on pretty

0:22:49.840 --> 0:22:53.000
<v Speaker 4>good footing, right, and so therefore that's why the stock

0:22:53.119 --> 0:22:55.720
<v Speaker 4>market was going up. The FED did a nice job

0:22:55.840 --> 0:22:59.399
<v Speaker 4>bringing down inflation. You know, corporate profits were good. You know,

0:22:59.480 --> 0:23:01.520
<v Speaker 4>we are how I mean, the best growth of any

0:23:01.680 --> 0:23:04.879
<v Speaker 4>major developed country in the world. So this time around,

0:23:05.200 --> 0:23:08.320
<v Speaker 4>unless there's some huge geopolitical dust up, you know, something

0:23:08.359 --> 0:23:12.160
<v Speaker 4>with Taiwan and China, that would be a devastating blow

0:23:12.280 --> 0:23:13.360
<v Speaker 4>to the global economy.

0:23:13.680 --> 0:23:16.840
<v Speaker 2>Right, But you feel like the economy is pretty solid.

0:23:17.040 --> 0:23:18.960
<v Speaker 4>I think the economy is very solid. I think the

0:23:19.040 --> 0:23:22.960
<v Speaker 4>biggest risk is that if the policies lead to greater inflation,

0:23:23.080 --> 0:23:26.760
<v Speaker 4>if inflation becomes entrenched in this economy, then we're going

0:23:26.840 --> 0:23:28.520
<v Speaker 4>to have lower growth and we're going to have something

0:23:28.560 --> 0:23:30.880
<v Speaker 4>called stagflation. You and I talked about this a few

0:23:30.920 --> 0:23:33.520
<v Speaker 4>months ago on the pod. That will be very bad

0:23:33.800 --> 0:23:35.760
<v Speaker 4>for the stock market. It will be very bad for

0:23:35.880 --> 0:23:37.040
<v Speaker 4>corporate profits.

0:23:36.960 --> 0:23:37.920
<v Speaker 2>Right, stagflation.

0:23:38.200 --> 0:23:41.480
<v Speaker 1>Just remind our listeners with stagflation is because I totally know,

0:23:41.800 --> 0:23:43.080
<v Speaker 1>but I think they don't know.

0:23:43.520 --> 0:23:45.920
<v Speaker 4>Yeah, higher price for goods and services is you know,

0:23:46.160 --> 0:23:48.280
<v Speaker 4>well above let's say growth rates, and so you have

0:23:48.359 --> 0:23:50.159
<v Speaker 4>slow in growth you have high prices, and you have

0:23:50.240 --> 0:23:51.879
<v Speaker 4>economy that's kind of stuck in the mud. You have

0:23:51.920 --> 0:23:55.280
<v Speaker 4>a consumer that is basically, you know, on the sidelines

0:23:55.359 --> 0:23:58.680
<v Speaker 4>because they are basically worried about prices going higher, and

0:23:58.680 --> 0:24:01.560
<v Speaker 4>they're worried about their and the like. Because when the

0:24:01.680 --> 0:24:05.200
<v Speaker 4>economy slows down and businesses make less profits, they start

0:24:05.520 --> 0:24:08.080
<v Speaker 4>cutting people. And that's the biggest fear. Right now, we

0:24:08.160 --> 0:24:10.560
<v Speaker 4>have unemployment at like four point one four point two percent,

0:24:11.040 --> 0:24:12.920
<v Speaker 4>up from about three and a half percent, which was

0:24:13.119 --> 0:24:15.520
<v Speaker 4>a sixty year low. The worry would be that we

0:24:15.600 --> 0:24:19.240
<v Speaker 4>have unemployment going up dramatically. That will slow consumer spending.

0:24:19.280 --> 0:24:22.280
<v Speaker 4>Consumer spending is two thirds of our economy, and you

0:24:22.320 --> 0:24:23.960
<v Speaker 4>can see how it can just go round and around.

0:24:24.040 --> 0:24:27.040
<v Speaker 4>So if you throw inflation higher for longer, that's going

0:24:27.119 --> 0:24:28.840
<v Speaker 4>to throw a huge monkey wrench into what is a

0:24:28.920 --> 0:24:30.320
<v Speaker 4>pretty decent economy right now.

0:24:30.640 --> 0:24:33.320
<v Speaker 2>Right, Yeah, that does not sound good. But luckily Trump

0:24:33.440 --> 0:24:35.400
<v Speaker 2>is the best minds on it, so we should be fine.

0:24:35.560 --> 0:24:36.960
<v Speaker 4>Yeah. The most brilliant people.

0:24:36.920 --> 0:24:40.520
<v Speaker 1>The most brilliant people right out of Central casting. All right,

0:24:40.640 --> 0:24:42.879
<v Speaker 1>Well that made me feel much better, thank you.

0:24:43.359 --> 0:24:45.600
<v Speaker 4>Well, here's the deal, right, So we're at a position

0:24:45.760 --> 0:24:48.240
<v Speaker 4>here where we know how to deal with this in

0:24:48.359 --> 0:24:50.719
<v Speaker 4>some ways. And so if you think about the quality

0:24:50.760 --> 0:24:53.000
<v Speaker 4>of a lot of these cabinet people, it seems much less,

0:24:53.119 --> 0:24:55.480
<v Speaker 4>and maybe that ineptitude is the thing that doesn't allow

0:24:55.560 --> 0:24:58.000
<v Speaker 4>them to get things done. Maybe we also see, you know,

0:24:58.160 --> 0:24:59.960
<v Speaker 4>some sort of Maybe he's a dictator for a day.

0:25:00.320 --> 0:25:02.679
<v Speaker 4>Maybe he exacts a bunch of vengeance on people who

0:25:02.720 --> 0:25:04.760
<v Speaker 4>have podcasts that do it three times a day, and

0:25:04.840 --> 0:25:07.119
<v Speaker 4>they go on MSNBC and they talk a lot of

0:25:07.160 --> 0:25:10.000
<v Speaker 4>shit about him. But maybe after that it's kind of over,

0:25:10.240 --> 0:25:11.720
<v Speaker 4>you know, and then we kind of get back to

0:25:11.840 --> 0:25:14.920
<v Speaker 4>some sense of normalcy. Maybe he starts worrying about his legacy.

0:25:15.000 --> 0:25:17.639
<v Speaker 4>If you think about the last four years, the guy's

0:25:17.800 --> 0:25:20.639
<v Speaker 4>reputation was mud. He was in and out of courtrooms

0:25:20.680 --> 0:25:22.280
<v Speaker 4>and that sort of thing. Maybe he says to himself,

0:25:22.320 --> 0:25:24.560
<v Speaker 4>you know what, I want history to remember me truly

0:25:24.720 --> 0:25:27.159
<v Speaker 4>as the best president, as the big uniter. You know,

0:25:27.240 --> 0:25:29.760
<v Speaker 4>if you think about the demographics shifts that we saw

0:25:30.320 --> 0:25:33.400
<v Speaker 4>just in this last election, I mean, maybe he does

0:25:33.480 --> 0:25:36.120
<v Speaker 4>have the opportunity to kind of bring some stuff together.

0:25:36.200 --> 0:25:38.720
<v Speaker 4>I'm not optimistic about it, but if you think about

0:25:39.000 --> 0:25:41.880
<v Speaker 4>what he just pulled off, and he's thinking about his legacy.

0:25:42.000 --> 0:25:44.119
<v Speaker 4>I mean, it's something we know he cares about how

0:25:44.160 --> 0:25:46.159
<v Speaker 4>people think of him. Maybe this is a you know,

0:25:46.240 --> 0:25:48.240
<v Speaker 4>the opportunity for a turn for a guy who's probably

0:25:48.280 --> 0:25:50.399
<v Speaker 4>one of the most miserable people that exists on the planet.

0:25:50.520 --> 0:25:51.640
<v Speaker 2>All Right, that don't feel better?

0:25:52.000 --> 0:25:54.960
<v Speaker 4>Thank you, Dan Nathan, Thanks for having me, Mollie.

0:25:57.080 --> 0:26:01.080
<v Speaker 1>Stephen Vladik is a CNN contribute to and the author

0:26:01.240 --> 0:26:05.520
<v Speaker 1>of the Shadow Docket. Welcome back to Fast Politics, Steven.

0:26:05.320 --> 0:26:06.560
<v Speaker 5>Thanks Molly. Great to be back with you.

0:26:06.960 --> 0:26:09.920
<v Speaker 1>So I wanted to have you on as soon as

0:26:10.119 --> 0:26:14.760
<v Speaker 1>Tuesday started to unfold the way that it started to unfold,

0:26:15.400 --> 0:26:18.840
<v Speaker 1>I thought to myself, Okay, Donald Trump is going to

0:26:18.880 --> 0:26:24.040
<v Speaker 1>be president again, and Republicans are going to win the Senate.

0:26:24.160 --> 0:26:27.080
<v Speaker 1>We knew that was a fedocomplay, and I think it's

0:26:27.160 --> 0:26:29.760
<v Speaker 1>almost one hundred percent that they're going to keep the House.

0:26:29.960 --> 0:26:33.600
<v Speaker 1>So I'm wondering in my mind there is only one check.

0:26:34.000 --> 0:26:36.520
<v Speaker 1>It is a wobbly one, which will be the courts.

0:26:36.760 --> 0:26:38.840
<v Speaker 5>I mean, I agree with that, Molly, and I think

0:26:39.040 --> 0:26:41.239
<v Speaker 5>you know, there are two things about that that are

0:26:41.280 --> 0:26:43.680
<v Speaker 5>worth saying in a bit more detail. The first is

0:26:44.119 --> 0:26:47.160
<v Speaker 5>Trump had a trifecta part of his first term too,

0:26:47.720 --> 0:26:50.760
<v Speaker 5>but he never had the margin in the Senate that

0:26:50.880 --> 0:26:53.560
<v Speaker 5>he's going to have, and so he could be thwarted

0:26:53.840 --> 0:26:57.000
<v Speaker 5>right by John McKay and or Lisa Murkowski in a

0:26:57.040 --> 0:27:00.200
<v Speaker 5>way that won't be true. Started in January. And then

0:27:00.400 --> 0:27:03.080
<v Speaker 5>the second piece of that is, you know, so many

0:27:03.160 --> 0:27:05.479
<v Speaker 5>folks like us are conditioned to think that the Supreme

0:27:05.560 --> 0:27:09.240
<v Speaker 5>Court can do nothing right. But the Court actually pushed

0:27:09.320 --> 0:27:12.119
<v Speaker 5>back a lot against Trump during his first term, more

0:27:12.560 --> 0:27:15.600
<v Speaker 5>than we might have expected for Republican president. And I

0:27:15.680 --> 0:27:18.399
<v Speaker 5>think it's not you know, it's not a given that

0:27:18.600 --> 0:27:20.360
<v Speaker 5>is just going to roll over in a second term,

0:27:20.680 --> 0:27:23.280
<v Speaker 5>especially if, as you say, it looks likely it's going

0:27:23.359 --> 0:27:24.040
<v Speaker 5>to be all that's left.

0:27:24.280 --> 0:27:27.200
<v Speaker 1>Yeah, and I think that is where we are. So

0:27:27.320 --> 0:27:28.919
<v Speaker 1>one of the reasons why I wanted you to come

0:27:29.000 --> 0:27:32.200
<v Speaker 1>on is because you're so smart. But also you've written

0:27:32.480 --> 0:27:35.560
<v Speaker 1>so much about this court. I mean, you are basically

0:27:35.680 --> 0:27:38.800
<v Speaker 1>the person who got people thinking about and talking about

0:27:38.840 --> 0:27:41.600
<v Speaker 1>the shadow. I mean, first, the Supreme Court did it

0:27:41.840 --> 0:27:44.920
<v Speaker 1>by essentially using it to overturn Roe v.

0:27:45.040 --> 0:27:45.879
<v Speaker 2>Wade with SBA.

0:27:46.080 --> 0:27:47.680
<v Speaker 1>I mean, they did other stuff with it, but that

0:27:47.920 --> 0:27:52.320
<v Speaker 1>is I feel like the largest, most profound change they

0:27:52.400 --> 0:27:55.760
<v Speaker 1>made on the shadow docket, but by allowing SBA to

0:27:55.920 --> 0:27:59.479
<v Speaker 1>stay in Texas, they essentially overturned Row.

0:27:59.480 --> 0:28:01.520
<v Speaker 2>A year book for Roe was overturned.

0:28:01.960 --> 0:28:04.280
<v Speaker 5>That's right, I mean, Molly, I would say, from a

0:28:04.400 --> 0:28:08.000
<v Speaker 5>political consequences perspective, I would one up you just with

0:28:08.160 --> 0:28:11.800
<v Speaker 5>the Alabama redistrict in case in February twenty twenty two,

0:28:11.960 --> 0:28:16.080
<v Speaker 5>because what was so significant about the court's unsigned, unexplained

0:28:16.160 --> 0:28:20.080
<v Speaker 5>intervention in that case, which put back into effect Alabama's

0:28:20.320 --> 0:28:23.840
<v Speaker 5>you know, unlawful congressional district map is it basically gave

0:28:23.880 --> 0:28:26.960
<v Speaker 5>Republicans control of the House in the current Congress. You

0:28:27.040 --> 0:28:31.320
<v Speaker 5>can tie a pretty straight line from that unexplained majority

0:28:31.359 --> 0:28:35.800
<v Speaker 5>pit you know majority ruling to five Republican House seats

0:28:35.840 --> 0:28:38.960
<v Speaker 5>that would otherwise be democratic, and that's, you know, that's

0:28:38.960 --> 0:28:42.440
<v Speaker 5>the Republican margin right now. So the point, which I mean,

0:28:42.560 --> 0:28:44.360
<v Speaker 5>it doesn't matter which case you used to make it

0:28:44.760 --> 0:28:46.520
<v Speaker 5>is that, yeah, this is a court that has done

0:28:46.680 --> 0:28:49.440
<v Speaker 5>more and more big stuff affecting all of us with

0:28:49.600 --> 0:28:52.240
<v Speaker 5>less and less explanation, and that's not been great.

0:28:53.320 --> 0:28:55.840
<v Speaker 1>I don't want to be a doomer about this Trump term.

0:28:56.160 --> 0:28:58.040
<v Speaker 1>That's not to say that I want to normalize it.

0:28:58.160 --> 0:29:01.240
<v Speaker 1>I think the guys that complete a democratic autocrat, But

0:29:01.920 --> 0:29:05.920
<v Speaker 1>I do think that we still have checks and balances

0:29:06.200 --> 0:29:09.640
<v Speaker 1>and that Dumerism is actually the enemy, and that it's

0:29:09.760 --> 0:29:12.560
<v Speaker 1>much better to sort of talk through. And especially when

0:29:12.600 --> 0:29:16.920
<v Speaker 1>you think about this court, which is filled with you know,

0:29:17.800 --> 0:29:22.000
<v Speaker 1>Trump put in three Supreme Court justices, but I don't

0:29:22.040 --> 0:29:25.800
<v Speaker 1>think they think they serve at the present pleasure of

0:29:25.880 --> 0:29:26.440
<v Speaker 1>Donald Trump.

0:29:26.520 --> 0:29:28.600
<v Speaker 2>I think Donald Trump thinks that, but I don't think

0:29:28.680 --> 0:29:29.200
<v Speaker 2>they think that.

0:29:29.640 --> 0:29:31.520
<v Speaker 5>I think that's really astute, and I think that's a

0:29:31.600 --> 0:29:35.680
<v Speaker 5>really important point that just because the current you know,

0:29:35.840 --> 0:29:38.760
<v Speaker 5>conservative majority on the Supreme Court rules in ways that

0:29:38.840 --> 0:29:40.600
<v Speaker 5>a lot of us don't like in most of the

0:29:40.680 --> 0:29:42.720
<v Speaker 5>cases we care about, doesn't mean that they're in the

0:29:42.800 --> 0:29:45.520
<v Speaker 5>bag for Trump. The problem I think that we run

0:29:45.560 --> 0:29:48.280
<v Speaker 5>into is a problem of the court's own making Molly right,

0:29:48.360 --> 0:29:50.960
<v Speaker 5>which is, you know, the Court had a really good

0:29:51.000 --> 0:29:54.280
<v Speaker 5>opportunity just this summer to show us just how not

0:29:54.560 --> 0:29:56.760
<v Speaker 5>in the bag for Trump they are in the January

0:29:56.800 --> 0:30:00.520
<v Speaker 5>Sex Community case, and you know, five of the Republican

0:30:00.600 --> 0:30:04.240
<v Speaker 5>appointees flunked. Only just as Amy Cony Barrett seem to

0:30:04.760 --> 0:30:07.960
<v Speaker 5>understand the implications of the decision, that the rest of

0:30:08.000 --> 0:30:10.440
<v Speaker 5>the court signed on too, So I'm with you. I

0:30:10.600 --> 0:30:14.920
<v Speaker 5>think numerism is counterproductive, and actually I think sort of

0:30:14.960 --> 0:30:16.960
<v Speaker 5>feeds into the problem. And I also think that just

0:30:17.040 --> 0:30:19.600
<v Speaker 5>as a matter of who they are, someone like a

0:30:19.720 --> 0:30:22.160
<v Speaker 5>John Roberts or a Brett Kavanaugh or at Amy Cony Barrett,

0:30:22.600 --> 0:30:24.800
<v Speaker 5>you know, they're gonna not do what I want them

0:30:24.840 --> 0:30:27.000
<v Speaker 5>to do in almost all the cases that matter. But

0:30:27.400 --> 0:30:31.000
<v Speaker 5>are they gonna let Trump dismantle birthright citizenship? I can't

0:30:31.080 --> 0:30:33.840
<v Speaker 5>imagine they are. Are they gonna let Trump destroy the

0:30:33.960 --> 0:30:37.440
<v Speaker 5>civil service in the executive branch? I can't imagine they are.

0:30:37.640 --> 0:30:41.040
<v Speaker 5>And so the fact that they'll draw the line closer

0:30:41.120 --> 0:30:43.520
<v Speaker 5>to Trump than you or I would doesn't mean that

0:30:43.560 --> 0:30:45.880
<v Speaker 5>they're not gonna draw a line. That may be sort

0:30:45.880 --> 0:30:49.080
<v Speaker 5>of small solace to folks who are you know, rightly

0:30:49.200 --> 0:30:51.920
<v Speaker 5>concerned about a Republican trifecta for the next two or

0:30:51.960 --> 0:30:54.440
<v Speaker 5>four years. But I think we should not give up

0:30:54.480 --> 0:30:56.880
<v Speaker 5>the ghost that it's importantly more than nothing.

0:30:57.240 --> 0:31:00.440
<v Speaker 1>Yeah, I also think that it's more important to stay

0:31:00.880 --> 0:31:03.360
<v Speaker 1>in this. And I mean, I also want you to

0:31:03.440 --> 0:31:06.960
<v Speaker 1>talk because I was texting the sky Perryman yesterday. We

0:31:07.080 --> 0:31:10.560
<v Speaker 1>were we were talking about like how the left needs

0:31:10.640 --> 0:31:14.160
<v Speaker 1>to think about this next Trump term. And we were

0:31:14.160 --> 0:31:17.440
<v Speaker 1>talking about like Donald Trump has lost in court a

0:31:17.680 --> 0:31:18.920
<v Speaker 1>number of times.

0:31:19.200 --> 0:31:20.520
<v Speaker 2>Will you expand on that?

0:31:21.000 --> 0:31:21.200
<v Speaker 3>Sure?

0:31:21.280 --> 0:31:23.880
<v Speaker 5>I mean, so, you know, Trump when he was president

0:31:24.240 --> 0:31:27.200
<v Speaker 5>had about as poor a track record in the lower

0:31:27.240 --> 0:31:30.200
<v Speaker 5>federal courts and in the Supreme Court as any president

0:31:30.280 --> 0:31:33.880
<v Speaker 5>in a long time, molly, including democratic presidents right before

0:31:33.920 --> 0:31:36.240
<v Speaker 5>a not very different court, you know, just to name

0:31:36.280 --> 0:31:39.000
<v Speaker 5>a couple of cases. Right, So, with regard to the

0:31:39.080 --> 0:31:42.000
<v Speaker 5>travel band, Trump had to do three versions of that

0:31:42.240 --> 0:31:44.880
<v Speaker 5>because the first two got struck down by the courts,

0:31:45.000 --> 0:31:48.320
<v Speaker 5>including the second one partly by the Supreme Court. Trump

0:31:48.440 --> 0:31:51.320
<v Speaker 5>couldn't ask a citizenship question on the twenty twenty census

0:31:51.400 --> 0:31:55.120
<v Speaker 5>because the Supreme Court stopped him. Right, Trump couldn't rescind DHAKA,

0:31:55.280 --> 0:31:58.160
<v Speaker 5>the Deferred Action for Childhood Arrivals immigration program because the

0:31:58.200 --> 0:32:01.320
<v Speaker 5>Supreme Court stopped him. And this is a different court,

0:32:01.440 --> 0:32:04.240
<v Speaker 5>I mean, right, This is a court without Ruth Badergensberg

0:32:04.280 --> 0:32:05.960
<v Speaker 5>and with Amy Cony Barrett. It is a court that,

0:32:06.520 --> 0:32:10.400
<v Speaker 5>since Trump left office, has decided Dobbs and Bruin and

0:32:11.080 --> 0:32:14.320
<v Speaker 5>you know, the Affirmative Action cases. But I still think

0:32:14.440 --> 0:32:18.280
<v Speaker 5>that there really is daylight between where the median justices

0:32:18.320 --> 0:32:20.600
<v Speaker 5>on the court are and a lot of what Trump

0:32:20.680 --> 0:32:23.160
<v Speaker 5>is going to want to accomplish when it comes to

0:32:23.360 --> 0:32:26.280
<v Speaker 5>the legality and the constitutionality of you know, his second

0:32:26.360 --> 0:32:26.880
<v Speaker 5>term agenda.

0:32:27.280 --> 0:32:30.200
<v Speaker 1>Right, and again this is back to Donald Trump as

0:32:30.280 --> 0:32:33.920
<v Speaker 1>bad as bad at courts. It really seems so far,

0:32:34.000 --> 0:32:36.680
<v Speaker 1>and we just have seen very few appointments, but we've

0:32:36.720 --> 0:32:40.680
<v Speaker 1>seen two big appointments, two that strike me as kind

0:32:40.720 --> 0:32:43.120
<v Speaker 1>of the headlines and what he wants to do next,

0:32:43.200 --> 0:32:46.600
<v Speaker 1>and those are Tom Holman and Steven Miller. I mean,

0:32:46.800 --> 0:32:49.440
<v Speaker 1>it seems like mass deportation is going to be the

0:32:49.560 --> 0:32:52.720
<v Speaker 1>first move that seems to me like something that is

0:32:52.800 --> 0:32:55.520
<v Speaker 1>going to run a fat home the Court's very quickly.

0:32:56.000 --> 0:32:58.240
<v Speaker 5>I mean, I think that's right. And you know, Molly,

0:32:58.360 --> 0:33:00.680
<v Speaker 5>I think we're going to see a lot of you know,

0:33:00.840 --> 0:33:04.840
<v Speaker 5>blue states and more left winged groups taking pages from

0:33:05.040 --> 0:33:07.680
<v Speaker 5>like Ken Paxton's playbook in the Trump administration.

0:33:08.040 --> 0:33:09.120
<v Speaker 2>That's just what I was thinking.

0:33:09.240 --> 0:33:12.400
<v Speaker 5>Go on, yeah, and they're going to find sympathetic lower courts,

0:33:12.440 --> 0:33:16.360
<v Speaker 5>whether they're you know, in California or Maryland or Massachusetts

0:33:16.440 --> 0:33:18.520
<v Speaker 5>or what have you, the same way that you know,

0:33:18.600 --> 0:33:21.000
<v Speaker 5>the Republicans have kept going to Texas over the last

0:33:21.080 --> 0:33:23.920
<v Speaker 5>four years. Again, right, that's going to put pressure on

0:33:24.080 --> 0:33:27.280
<v Speaker 5>the Supreme Court. Right first on you know, the shadow docket,

0:33:27.400 --> 0:33:31.240
<v Speaker 5>first with regard to what will surely be emergency requests

0:33:31.400 --> 0:33:34.040
<v Speaker 5>from the Trump administration to get out from under those

0:33:34.080 --> 0:33:36.280
<v Speaker 5>lower court rule ins. And then on the merits. And

0:33:36.360 --> 0:33:38.520
<v Speaker 5>I guess I'll just say, like you know, I spend

0:33:38.560 --> 0:33:41.400
<v Speaker 5>a lot of time criticizing the Supreme Court. There's a

0:33:41.480 --> 0:33:44.800
<v Speaker 5>difference between the Supreme Court getting a particular legal issue,

0:33:45.080 --> 0:33:47.800
<v Speaker 5>in my view, wrong, and a Supreme Court sort of

0:33:47.920 --> 0:33:50.960
<v Speaker 5>giving up its institutional responsibility as a check on the

0:33:51.160 --> 0:33:53.880
<v Speaker 5>elected branches. This is where the immunity case is a

0:33:53.960 --> 0:33:56.960
<v Speaker 5>real problem. But it's not the end. And I don't

0:33:57.000 --> 0:33:59.000
<v Speaker 5>take it as a sign that John Roberts and Brett

0:33:59.040 --> 0:34:02.000
<v Speaker 5>Kavanaugh are done. I think it's just, you know why

0:34:02.200 --> 0:34:04.960
<v Speaker 5>a lot of folks who are not inclined to give

0:34:05.000 --> 0:34:07.200
<v Speaker 5>them the benefit of the doubt are not inclined to

0:34:07.200 --> 0:34:08.200
<v Speaker 5>give them the benefit of the doubt.

0:34:08.480 --> 0:34:10.080
<v Speaker 2>I do not want to wish cast here.

0:34:10.239 --> 0:34:12.560
<v Speaker 1>I got in trouble in the twenty twenty four cycle

0:34:12.719 --> 0:34:14.439
<v Speaker 1>for my sunny optimism if.

0:34:14.360 --> 0:34:18.399
<v Speaker 2>You can believe it. But Roberts does come from Reagan world.

0:34:18.760 --> 0:34:22.319
<v Speaker 1>These people had an idea they were trying to put

0:34:22.440 --> 0:34:24.759
<v Speaker 1>on the country, which they have been able to do

0:34:25.000 --> 0:34:28.440
<v Speaker 1>via Donald Trump. But it's not necessarily Donald Trump's idea

0:34:28.560 --> 0:34:29.880
<v Speaker 1>of what he wants for the country.

0:34:30.120 --> 0:34:31.480
<v Speaker 5>I think this is right, and I think this is

0:34:31.520 --> 0:34:35.480
<v Speaker 5>why it's really helpful to separate out the six Republican appointees,

0:34:35.960 --> 0:34:39.080
<v Speaker 5>not by which president appointed them, but by what their

0:34:39.120 --> 0:34:39.880
<v Speaker 5>north stars are.

0:34:40.120 --> 0:34:40.279
<v Speaker 3>Right.

0:34:40.400 --> 0:34:43.759
<v Speaker 5>So I think of a John Roberts and a Brett Kavanaugh,

0:34:44.120 --> 0:34:46.680
<v Speaker 5>and I think even Amy Coni Barrett as folks whose

0:34:46.760 --> 0:34:50.759
<v Speaker 5>north stars are legal principles molly that have long been

0:34:50.840 --> 0:34:54.120
<v Speaker 5>part of the conservative legal establishment's agenda. And I don't

0:34:54.360 --> 0:34:56.920
<v Speaker 5>like a lot of those principles. I have real problems

0:34:56.960 --> 0:35:00.800
<v Speaker 5>with many of those principles, but they are principles versus

0:35:01.280 --> 0:35:04.799
<v Speaker 5>I think you can more fairly level the charge at

0:35:04.920 --> 0:35:08.120
<v Speaker 5>someone like a Justice Samuel Alito or Justice Clarence Thomas,

0:35:08.200 --> 0:35:11.520
<v Speaker 5>or indeed Justice Neil Gorsic that increasingly their votes look

0:35:11.640 --> 0:35:14.919
<v Speaker 5>like their only principle is who's winning and who's losing.

0:35:15.200 --> 0:35:18.319
<v Speaker 5>And you know, in a second Trump term, I think

0:35:18.640 --> 0:35:21.880
<v Speaker 5>the first trio is going to be much more important

0:35:21.920 --> 0:35:24.600
<v Speaker 5>than the second trio, because that's going to be, you know,

0:35:24.719 --> 0:35:26.719
<v Speaker 5>the thing to watch. Are they going to stand up

0:35:26.800 --> 0:35:30.560
<v Speaker 5>for principles in cases in which you know, Trump runs

0:35:30.600 --> 0:35:32.440
<v Speaker 5>about of them, which you know, I mean, Molly, we

0:35:32.560 --> 0:35:34.600
<v Speaker 5>might not know exactly which cases they'll be, but they

0:35:34.680 --> 0:35:36.080
<v Speaker 5>will be cases, right.

0:35:36.400 --> 0:35:36.440
<v Speaker 4>No.

0:35:36.680 --> 0:35:40.040
<v Speaker 1>No, I think it's fair to say his first plan,

0:35:40.880 --> 0:35:44.520
<v Speaker 1>this idea of doing camps. Even if you use the

0:35:44.640 --> 0:35:48.880
<v Speaker 1>Alien Insurrection Act of seventeen ninety eight or whatever it is,

0:35:49.040 --> 0:35:51.680
<v Speaker 1>you would need to have a foreign war. I mean,

0:35:51.960 --> 0:35:54.600
<v Speaker 1>the whole theory of the case here is pretty flimsy.

0:35:55.000 --> 0:35:56.880
<v Speaker 5>I mean, folks may not remember, but you know, the

0:35:57.080 --> 0:36:00.600
<v Speaker 5>first travel ban was like the first weekend of Trump's

0:36:00.640 --> 0:36:03.120
<v Speaker 5>first term. The reason why that never got off the

0:36:03.200 --> 0:36:06.280
<v Speaker 5>ground was because of federal judges, federal judges in Brooklyn

0:36:06.520 --> 0:36:10.320
<v Speaker 5>and in California and Hawaii and Seattle. And you know,

0:36:10.440 --> 0:36:12.920
<v Speaker 5>I think that's what we're in for again. And I

0:36:13.320 --> 0:36:16.759
<v Speaker 5>totally understand why people are going to come into a

0:36:16.840 --> 0:36:19.600
<v Speaker 5>second Trump term with less faith that the courts are

0:36:19.640 --> 0:36:21.160
<v Speaker 5>going to save us. The courts are not going to

0:36:21.200 --> 0:36:23.759
<v Speaker 5>save us, but the courts might at least save themselves.

0:36:24.080 --> 0:36:27.600
<v Speaker 5>And I think that's you know that means standing up

0:36:27.760 --> 0:36:30.080
<v Speaker 5>for the role of the courts in our system. It

0:36:30.200 --> 0:36:32.640
<v Speaker 5>means pushing back when the president does thems that are

0:36:32.680 --> 0:36:36.440
<v Speaker 5>flagrantly unconstitutional. And I think, you know, ironically, Molly, the

0:36:36.640 --> 0:36:40.160
<v Speaker 5>faster Trump pushes, the more push back he will engender

0:36:40.520 --> 0:36:41.320
<v Speaker 5>from the judiciary.

0:36:41.680 --> 0:36:44.279
<v Speaker 2>Yes, I think that is for sure true.

0:36:44.560 --> 0:36:47.239
<v Speaker 1>And you know what I'm struck by just from the

0:36:47.440 --> 0:36:52.759
<v Speaker 1>early cabinet right now is just how it seems very

0:36:52.840 --> 0:36:55.920
<v Speaker 1>focused on deportation, whereas I mean, again, obviously this was

0:36:55.960 --> 0:36:59.960
<v Speaker 1>about Senate confirmation. Yes, but Marco Rubio does not see

0:37:00.200 --> 0:37:03.400
<v Speaker 1>so you know, he's aligned with the George W. Bush

0:37:03.560 --> 0:37:06.239
<v Speaker 1>or it's not like he put Tom Cotton in there.

0:37:07.440 --> 0:37:10.160
<v Speaker 5>Indeed, although you know, the line between Rubio and Cotton

0:37:10.200 --> 0:37:12.960
<v Speaker 5>may be elusive, but no, I mean, you know, I mean,

0:37:13.239 --> 0:37:15.640
<v Speaker 5>I'll just say, like, if we're looking at someone like

0:37:15.719 --> 0:37:18.759
<v Speaker 5>a Marco Rubio as Secretary of State as opposed to

0:37:19.360 --> 0:37:23.239
<v Speaker 5>you know, someone who is an absolute lunatic right when

0:37:23.280 --> 0:37:25.880
<v Speaker 5>it comes to foreign policy, right, if we're looking at

0:37:25.920 --> 0:37:27.720
<v Speaker 5>you know, I saw a story this afternoon that Matthew

0:37:27.719 --> 0:37:31.239
<v Speaker 5>Whittaker is back under consideration to be Attorney General. You know,

0:37:31.520 --> 0:37:33.200
<v Speaker 5>I don't think Whittaker is going to go down in

0:37:33.239 --> 0:37:37.160
<v Speaker 5>the pantheon of great attorneys general. But that's still not

0:37:37.280 --> 0:37:39.919
<v Speaker 5>the same thing as you know, the former gorsicch clerk

0:37:40.000 --> 0:37:42.799
<v Speaker 5>Mike Davis, who's on social media talking about how we're

0:37:42.800 --> 0:37:46.600
<v Speaker 5>going to prosecute everyone who's ever criticized President Trump. It's

0:37:46.680 --> 0:37:50.520
<v Speaker 5>going to be really important for folks to be nuanced

0:37:51.120 --> 0:37:53.960
<v Speaker 5>in how we assess the threats to the rule of

0:37:54.040 --> 0:37:54.960
<v Speaker 5>law that are coming.

0:37:55.280 --> 0:37:58.680
<v Speaker 1>So there's only so much energy. And I also think

0:37:58.760 --> 0:38:01.280
<v Speaker 1>that the really important it's going to be it cannot

0:38:01.320 --> 0:38:05.279
<v Speaker 1>be a stylistic question. It needs to be a subpintive question,

0:38:05.440 --> 0:38:09.239
<v Speaker 1>like Trump will do things that we won't like personally,

0:38:09.840 --> 0:38:12.560
<v Speaker 1>but it's a question of when it does sort of

0:38:12.760 --> 0:38:15.600
<v Speaker 1>mess up the rule of law or American democracy.

0:38:15.680 --> 0:38:17.200
<v Speaker 2>I mean to protect institutions.

0:38:17.239 --> 0:38:20.040
<v Speaker 1>Speaking of institutions, I want you to talk to us

0:38:20.280 --> 0:38:25.200
<v Speaker 1>about the Alito Thomas retirement question.

0:38:27.200 --> 0:38:29.279
<v Speaker 5>Will they go or won't they? So I mean, I

0:38:29.360 --> 0:38:33.080
<v Speaker 5>think the first thing to say is November twelfth is

0:38:33.239 --> 0:38:35.920
<v Speaker 5>not the time to have this conversation, not you and me,

0:38:36.120 --> 0:38:39.200
<v Speaker 5>but the public discourse around this, right, even if they've

0:38:39.239 --> 0:38:41.600
<v Speaker 5>both made up their minds to retire, and I suspect

0:38:41.719 --> 0:38:44.840
<v Speaker 5>neither of them have now me too, right, They're not

0:38:45.080 --> 0:38:48.640
<v Speaker 5>gonna say anything until at the earliest next summer and

0:38:48.760 --> 0:38:51.600
<v Speaker 5>even then, right, So, you know, I think folks that

0:38:51.760 --> 0:38:53.399
<v Speaker 5>just sort of take a little bit of a breath.

0:38:53.719 --> 0:38:57.359
<v Speaker 5>I do think that both Alito and Thomas are invested

0:38:58.120 --> 0:39:02.120
<v Speaker 5>in having President Trump at some point name their successors.

0:39:02.520 --> 0:39:04.480
<v Speaker 5>But I also think that they both kind of like

0:39:04.560 --> 0:39:06.840
<v Speaker 5>their jobs. You know, Thomas is just a couple of

0:39:06.920 --> 0:39:09.960
<v Speaker 5>years away from being the longest serving justice in the

0:39:10.080 --> 0:39:12.840
<v Speaker 5>Court's history. That you know, he might say publicly that

0:39:12.880 --> 0:39:14.840
<v Speaker 5>doesn't matter to him. I don't believe that.

0:39:15.080 --> 0:39:17.040
<v Speaker 2>I think he said that he wants to be the

0:39:17.120 --> 0:39:17.840
<v Speaker 2>longest serving.

0:39:18.040 --> 0:39:18.160
<v Speaker 3>Right.

0:39:18.560 --> 0:39:19.960
<v Speaker 5>One of the amazing things that if you've been on

0:39:19.960 --> 0:39:21.719
<v Speaker 5>the core for thirty three years, people will find you

0:39:21.800 --> 0:39:22.920
<v Speaker 5>saying everything.

0:39:22.680 --> 0:39:23.640
<v Speaker 3>Right but true.

0:39:24.000 --> 0:39:27.520
<v Speaker 5>I think the reality is that they will both likely,

0:39:28.200 --> 0:39:30.720
<v Speaker 5>you know, sort of not worry about this until next summer,

0:39:31.000 --> 0:39:34.400
<v Speaker 5>and then it becomes a live question only because you know,

0:39:34.440 --> 0:39:36.400
<v Speaker 5>it will be interested in who the potential nominies are

0:39:36.480 --> 0:39:38.880
<v Speaker 5>to succeed them. I was struck. There's a story in

0:39:39.000 --> 0:39:41.239
<v Speaker 5>the Wall Street Journal, you know, as we're recording this

0:39:41.640 --> 0:39:45.279
<v Speaker 5>about how quote sources close to Aledo unquote say he

0:39:45.360 --> 0:39:47.960
<v Speaker 5>has no plans to retire. First of all, that's the

0:39:48.040 --> 0:39:50.320
<v Speaker 5>exact story I would want out if I did have

0:39:50.440 --> 0:39:53.759
<v Speaker 5>plans to retire. But second, it's just too early. I

0:39:53.800 --> 0:39:56.160
<v Speaker 5>think there's almost no question that Trump will get to

0:39:56.200 --> 0:39:58.600
<v Speaker 5>replace at least one of them. But whether that's next

0:39:58.680 --> 0:40:00.920
<v Speaker 5>year or two years from now, well we're three or

0:40:00.960 --> 0:40:03.160
<v Speaker 5>four years from now. I think it's going to depend

0:40:03.200 --> 0:40:05.680
<v Speaker 5>on a lot of what happens between now and then.

0:40:05.960 --> 0:40:08.960
<v Speaker 1>Yeah, but it is incredible that he will have put

0:40:09.080 --> 0:40:11.800
<v Speaker 1>in so many Supreme Court justices.

0:40:12.320 --> 0:40:15.440
<v Speaker 5>The last president who got to appoint a majority of

0:40:15.760 --> 0:40:18.120
<v Speaker 5>the Court was Eisenhower, and that was in a very

0:40:18.200 --> 0:40:23.360
<v Speaker 5>different period. And Eisenhower's appointees included Earl Warren, who was

0:40:23.719 --> 0:40:27.360
<v Speaker 5>the famous liberal Chief Justice Bill Brennan, who was like

0:40:27.480 --> 0:40:29.879
<v Speaker 5>the leader of the left wing of the Court into

0:40:29.920 --> 0:40:32.719
<v Speaker 5>the nineteen eighties. Right, So Eisenhower had the ability to

0:40:32.800 --> 0:40:36.440
<v Speaker 5>do it, but he actually had a diverse slate of appointees.

0:40:36.520 --> 0:40:38.160
<v Speaker 5>That hasn't been, of course, what we've seen from Trump.

0:40:38.280 --> 0:40:41.200
<v Speaker 1>If you had to guess a Supreme Court justice who

0:40:41.400 --> 0:40:45.400
<v Speaker 1>would not disappoint you in the profound way they tend to,

0:40:46.000 --> 0:40:46.560
<v Speaker 1>who would it be?

0:40:47.120 --> 0:40:49.120
<v Speaker 5>Who Trump might nominate because there are all people Trump

0:40:49.160 --> 0:40:49.880
<v Speaker 5>wouldn't nominate this.

0:40:49.960 --> 0:40:52.759
<v Speaker 1>No, no, I mean people on the Court right now

0:40:53.080 --> 0:40:57.279
<v Speaker 1>who might possibly be less disappointing if it comes to,

0:40:57.520 --> 0:41:00.800
<v Speaker 1>you know, sort of something you know, that might break

0:41:00.880 --> 0:41:02.080
<v Speaker 1>with the majority.

0:41:02.719 --> 0:41:04.960
<v Speaker 5>I don't think there's any question actually that of the

0:41:05.000 --> 0:41:08.600
<v Speaker 5>six Republican appointees the first vote, who would join the

0:41:08.640 --> 0:41:11.479
<v Speaker 5>three Democratic appointees in a big rule of law cases.

0:41:11.520 --> 0:41:14.439
<v Speaker 5>Amy Cody Barrett, I think that became clear last term.

0:41:14.600 --> 0:41:17.719
<v Speaker 5>I mean, I think she, you know, wrote separately in

0:41:17.840 --> 0:41:22.320
<v Speaker 5>the Colorado disqualification case. She wrote separately in the January

0:41:22.360 --> 0:41:25.160
<v Speaker 5>sixth community case. She you know, dissented in one of

0:41:25.200 --> 0:41:27.480
<v Speaker 5>the biggest environmental cases of the term. She dissented in

0:41:27.520 --> 0:41:29.919
<v Speaker 5>the January sixth obstruction case. I mean, I think Molly,

0:41:30.080 --> 0:41:32.719
<v Speaker 5>she really has, I think, come out of her shell

0:41:32.800 --> 0:41:35.640
<v Speaker 5>a bit. Not as a more moderate justice than we expected,

0:41:35.840 --> 0:41:37.640
<v Speaker 5>but again, I mean back to what we were talking

0:41:37.680 --> 0:41:40.160
<v Speaker 5>about a few minutes ago, as a justice for whom

0:41:40.239 --> 0:41:43.120
<v Speaker 5>the principles come first and the politics come second. You know,

0:41:43.400 --> 0:41:45.680
<v Speaker 5>that's who you're going to need in a big rule

0:41:45.719 --> 0:41:47.799
<v Speaker 5>of law case. What I think is so striking about

0:41:47.960 --> 0:41:51.800
<v Speaker 5>last term is that I had assumed the big cases

0:41:51.800 --> 0:41:54.120
<v Speaker 5>would be the ones where she would join Roberts and

0:41:54.320 --> 0:41:56.960
<v Speaker 5>the Demes, and it turned out the big cases were

0:41:56.960 --> 0:41:59.480
<v Speaker 5>the ones in which, you know, she joined the Dems

0:41:59.520 --> 0:42:02.200
<v Speaker 5>and descent because you couldn't get Roberts. And so, you know,

0:42:02.360 --> 0:42:04.840
<v Speaker 5>that's why I actually think John Roberts would already have

0:42:04.880 --> 0:42:08.040
<v Speaker 5>been massively important in a second Trump administration. But he really,

0:42:08.120 --> 0:42:11.200
<v Speaker 5>I think, will be the median in any cases that

0:42:11.360 --> 0:42:14.480
<v Speaker 5>have these massive rule of law implications where the justices

0:42:14.520 --> 0:42:16.200
<v Speaker 5>are in any way ideologically divided.

0:42:16.520 --> 0:42:19.279
<v Speaker 1>Thank you, thank you, thank you, thank you, thank you.

0:42:19.760 --> 0:42:22.200
<v Speaker 1>There's a little bit to feel better about in there.

0:42:22.440 --> 0:42:24.040
<v Speaker 5>I spend a lot of my time in front of

0:42:24.200 --> 0:42:26.799
<v Speaker 5>classrooms full of students who I'm trying to convince at

0:42:26.840 --> 0:42:29.239
<v Speaker 5>once both that the law matters and that we should

0:42:29.280 --> 0:42:32.439
<v Speaker 5>be realistic about it, right. And you know, to me, Molly,

0:42:32.520 --> 0:42:35.520
<v Speaker 5>the message is just that the Supreme Court might disappoint

0:42:35.640 --> 0:42:37.960
<v Speaker 5>us a lot, but I'd rather a Supreme Court that's

0:42:37.960 --> 0:42:39.839
<v Speaker 5>going to stand up for us some of the time,

0:42:40.239 --> 0:42:44.239
<v Speaker 5>right than a complete tyranny of the majority, especially given

0:42:44.280 --> 0:42:46.799
<v Speaker 5>the majority we're facing in the coming couple of years.

0:42:47.080 --> 0:42:55.160
<v Speaker 2>Yeah, thank you, Steven, Thanks Molly. No, moment, Jesse.

0:42:55.280 --> 0:42:59.120
<v Speaker 3>Cannon, Molly John Fast, I'm so happy we're already getting

0:42:59.200 --> 0:43:02.840
<v Speaker 3>new Trumps. We got the first buddy. Now, Elon Musk,

0:43:02.880 --> 0:43:03.640
<v Speaker 3>what do you see it here?

0:43:04.040 --> 0:43:08.400
<v Speaker 1>I am seeing that Elon Musk is calling himself the

0:43:08.520 --> 0:43:14.000
<v Speaker 1>first Buddy's so fucking up. I am going to let

0:43:14.080 --> 0:43:17.879
<v Speaker 1>that sink in for a minute, but I just want

0:43:17.920 --> 0:43:21.359
<v Speaker 1>to say that Donald Trump is getting kind of sick

0:43:21.400 --> 0:43:25.720
<v Speaker 1>of it already. When he was in the House talking

0:43:25.800 --> 0:43:29.239
<v Speaker 1>to Republicans today, it was reported he thanked Musk for

0:43:29.360 --> 0:43:32.919
<v Speaker 1>everything he did in the election, but added quote, now

0:43:33.120 --> 0:43:36.000
<v Speaker 1>I can't get rid of him. Okay, I want to

0:43:36.080 --> 0:43:41.319
<v Speaker 1>point out the election was eight days ago. Okay, now

0:43:41.520 --> 0:43:44.040
<v Speaker 1>I can't get rid of him. It's been eight days

0:43:44.280 --> 0:43:47.040
<v Speaker 1>of Trump having to deal with Elon and he's already saying.

0:43:46.880 --> 0:43:49.160
<v Speaker 3>That, I mean, would you last any longer?

0:43:49.440 --> 0:43:49.840
<v Speaker 2>I don't know.

0:43:50.880 --> 0:43:54.960
<v Speaker 1>And then he's behaving as if he's a co president

0:43:55.080 --> 0:43:57.480
<v Speaker 1>and making sure everyone knows it. One of the people's

0:43:57.520 --> 0:44:00.760
<v Speaker 1>said of Musk, and he's taking a lot of credit

0:44:00.880 --> 0:44:05.080
<v Speaker 1>for the President's victory, bragging about America pack and X

0:44:05.239 --> 0:44:08.160
<v Speaker 1>to anyone who will listen. He's trying to make President

0:44:08.239 --> 0:44:12.120
<v Speaker 1>Trump feel indebted to him, and the president is indebted

0:44:12.239 --> 0:44:15.239
<v Speaker 1>to no one. This person added, I'm sorry. This has

0:44:15.480 --> 0:44:17.400
<v Speaker 1>long been my theory of the case. You know, we

0:44:17.520 --> 0:44:20.480
<v Speaker 1>talk about Democrats being a big tent, but there is

0:44:20.640 --> 0:44:26.560
<v Speaker 1>no tent big enough for anti Semites, Zionists, anti vaxers,

0:44:27.040 --> 0:44:32.440
<v Speaker 1>Elon and Donald Trump's ego and Bill Ackman like I

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<v Speaker 1>think that this is going to be a very very

0:44:36.520 --> 0:44:37.719
<v Speaker 1>very short lived tent.

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<v Speaker 3>I think the polls are already wobbling.

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<v Speaker 1>That's it for this episode of Fast Politics. Tune in

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<v Speaker 1>every Monday, Wednesday, Thursday and Saturday to hear the best

0:44:52.160 --> 0:44:56.440
<v Speaker 1>minds and politics make sense of all this chaos. If

0:44:56.480 --> 0:44:59.480
<v Speaker 1>you enjoy this podcast, please send it to a friend

0:45:00.040 --> 0:45:01.560
<v Speaker 1>and keep the conversation going.

0:45:02.080 --> 0:45:03.160
<v Speaker 2>Thanks for listening.