PBD Podcast - Why Does My Milk Cost $7 a Gallon!? | PBD Podcast | EP 92

Episode Date: October 1, 2021

During the PBD Podcast, Patrick Bet-David sits down with Adam Sosnick, Tom Ellsworth, and Danielle DiMartino Booth to talk about topics such as Pelosi Insider Trading, Trump Vs. DeSantis, and much mor...e!  Watch the full podcast: https://youtu.be/Ak3sbs9-UrM --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

Transcript
Discussion (0)
Starting point is 00:00:00 So from last night, we were speaking. You were talking about how normally you come here, the lift takes a while to pick you up, but you're noticing a little bit of a difference. What is that? I'm noticing a huge difference. I'm noticing a lot more lift and Uber drivers are out on the road.
Starting point is 00:00:14 The wait time has been severely decreased. We finally got numbers from the government this morning that show the end of pandemic unemployment assistance, the end of the extended benefits, we finally got to see what that pipe, you know, pick through the Python looks like with most of Americans back at work. And lo and behold, we're seeing lower, lower spending among people who have lost their unemployment benefits. What a shock. But my point is, it's time for people to go back to work. And I think some people are going to go back to work, but there's a conundrum in this morning's data.
Starting point is 00:00:47 We've had three weeks, three consecutive weeks of rising initial US jobless claims. What's going on? Three weeks. Three weeks in a row. When's the last time you saw that? March, excuse me, April 2020. Last time we saw that was April 2020, which is COVID first month,
Starting point is 00:01:02 which makes sense. The gigantic numbers, gigantic numbers. But that was because shutdowns stay home, all that stuff. Now, tell me when you saw that pre April 2020? Oh, well, I mean, they bumped around a lot, but they were, but they were, they were at the lowest level in 50 years prior to the pandemic. And then they spiked up. But again, this is the, why are people getting fired in this environment?
Starting point is 00:01:23 And I think there's a lack of appreciation for how... I think you're radio. There's just, there's a lack of appreciation for how American companies have said, busta. I'm automating, I'm replacing you with, there's a thing called flippy at a white rock south of Chicago. And for 23 hours a day, seven days a week, down one hour per day, for downtime, for cleaning,
Starting point is 00:01:46 it makes French fries. Flippi's got a friend behind him that makes burgers. And automation in this country is really accelerating because companies are being told, you have to pay higher wages and they're like, okay, so what do we tell our shareholders? Yeah. I mean, how do we make a profit if we're paying $20 an hour for you to flip a burger? It just doesn't work. The profits don't work.
Starting point is 00:02:07 I've heard from around here that you've got small restaurants that have completely gone out of business because they can't make the math work. But in the interim, we've had companies really accelerate this move to automate. So there's a lot of redundancies. You're not going to have as many jobs as you had before. And part of it is because Americans chose to not work when they could have chose to not work when they could have so is this where
Starting point is 00:02:31 the capital is the innovator says no problem you don't want to work i'm always gonna come up with a solution my solution is i don't have a job for you anymore go figure out for yourself and change a career because the other day i was uh... talking to uh... guy i don't know if you were on that one zoom with the different entrepreneurs, one of the entrepreneur man feels, they want a pizza shop,
Starting point is 00:02:50 they want several pizza shops, they do very well for themselves. And they showed me an idea about this one guy that is building kitchens, okay? He creates all the locations for you, all the equipments in there, like $50,000 worth of equipment, you don't have to buy, they simply rent it out to you at $5,000 a month,
Starting point is 00:03:09 is what they do. You got to kitchen everything. And it's a model with Uber Eats that comes and picks it up or you know, some of those models that they're coming through. And they said there's a new machine that came out, doesn't need anybody, it just makes pizzas for itself. I said, what are you talking about? I said, let me show it to you, they show it to me this machine.
Starting point is 00:03:24 No joke, it's three things that it shows. First the dough, then it's the cheese, and then you program what to put in there, and it drops the pepper, it drops the mushroom, it drops the whatever you want. And at the end, the pizza comes out. Without needing a person to actually do that work. So, the reality of it is,
Starting point is 00:03:42 the entrepreneur will always figure out a solution for the challenge they're facing. They're not going to sit on their laurels and say, you don't want to come back to work. Oh my gosh, please come back, please come back. No problem. You don't want to. We'll find a replacement for you. You know, everybody talks about working from home.
Starting point is 00:03:57 I know what my privilege is. And I want to have a flexible lifestyle. Well, working from home peaked out at about 40 something percent, as of the most recent non-farm payroll report, it's down to 13.5, one three 0.5% Americans are working from home. So the media hypes it up a lot. What's that percentage again?
Starting point is 00:04:16 13.5. You say, currently, right now. Currently working from home. And where was the peak? It was, it was north of 40%. Holy moly. But that's the thing. It's been cut two thirds almost.%. Holy, it's the thing. It's been cut two-thirds almost.
Starting point is 00:04:26 Yes, but that's the thing. And the media makes it sound like these millennials are going to be able to make their own lifestyle choices, and they're going to be dictating all of what their work requirements are to their employer. The employers have been basically castrated. And it's simply not the case, but there are a lot of jobs that, and I'm not a time, I'm, you're talking about a machine that makes pizzas. And I just heard that some mellow mushroom in Delray went out of business. So that would have been a solution
Starting point is 00:04:55 for them 12 months ago. So then this more validates Elon Musk's UBI's eventually going to be eminent. There's nothing we can do about it. It's coming. Do you agree with him as well? Well, I hope he's wrong. And I think that, and I think we would agree on this. I think Mitch McConnell is making a last stand so that we can try and get out in front of this. And it's not so much.
Starting point is 00:05:20 You come out to three and a half trillion, all of a billion. No, no, I'm talking about raising the debt limit. And the thing is, Jenny Ellen was on the hill. She was on the hill testifying on Tuesday. And she correctly said that all we're doing by raising the debt limit is paying a bill that we've already incurred. It would be like going to a restaurant, ordering a steak, this is the example she used, eating the steak, and then refusing to pay the bill.
Starting point is 00:05:42 So these are just seven some $1 trillion of debt that we've already incurred as a country. And the debt limit has to be raised in order to cover that tab. But the reason back in 2011, Standard and Poor's downgraded the sovereign debt rating of the United States from AAA was because in the negotiations to raise the debt ceiling, Congress refused to address long-term entitlement spending. You hear about all the time, look, Social Security is gonna run out of money by 2034,
Starting point is 00:06:10 Medicare, Medicare, Medicaid. All of this entitlement spending has never been addressed. And what McConnell is saying is, we're not just gonna give you a free pass because the minute we raise that debt ceiling, you're gonna ram through three and a half trillion dollars of a social spending bill purely on party lines. Yeah.
Starting point is 00:06:28 He's looking at the midterm elections and trying to stop what you're talking about. Stop what Elon Musk is predicting will happen to this country. Tom, you're, well, the two sides to it. And for some, great to see you again. And it's great. Great to be back here. We have to come to Florida to see to realize we live in the same city. That's right.
Starting point is 00:06:44 Or the American lounge, or the Gloria by accident. Indeed, true. So what you have is two things that happen over the nine months, right? During the nine months, we kept spending money. So this nine month debate that's been going on,
Starting point is 00:06:56 we've been spending. And so Jan and Yellen is correct. We've already spent the money. Over nine months, people are retiring, everything the entitlements are going, the spending's been happening. So that's it.
Starting point is 00:07:05 But I want to set back to something, go back about two minutes here. Do you remember, I think it was two and a half years ago, three years ago, De Blasio did the thing, it was a double punch. First he said, fast food in New York need to have a living wage, and so it was like a minimum, what was it? 10, 50 or 12? Did he want it to push? I remember that. And at the same time he said, this is too much sugar and he held up, held up a big gap that you can freely go by if
Starting point is 00:07:29 you want. So at that time, do you remember what there is a McDonald franchisee that started working with Southwest previously on the kiosks so that people could have quick and accurate orders, could immediately select their language There was all these benefits not just eliminating another teenage kid that was making money. It was language. It was selection. It was accuracy It was speed in the most important two hours of the day 11 to one midday. Yep. So guess what this What we're seeing here with automation everything happening under COVID did not happen now.
Starting point is 00:08:05 The entrepreneurs were given a sign and a signal from people like the Blasio a couple years ago on minimum wage and what they were going to enforce on their business. And you gave entrepreneurs a two-year head start to start finding solutions. And now COVID comes out and guess what, the market's pretty big for those solutions and it they can sell them to a lot of them. And they've been accelerated and amplified. This whole moved automation. Let me put it to this, guys. If you're happy to have Danielle and Tom here with us,
Starting point is 00:08:33 give us a thumbs up and a subscribe to the channel. But let me kind of preface what topics we're covering today. One is the three and a half trillion dollar bill. Couple stories about Elon Musk and Jeff Bezos, he called them out again and said, you can't see or you're a su- you're a way to the moon,
Starting point is 00:08:48 which we'll probably talk about that. There's some stuff going on in the NBA, maybe we'll cover the vaccine with LeBron, and you know, he said he took it, but it's not for everyone. Kyrie's having some challenges right now. US government about to run out of money by October 18th, on my birthday,
Starting point is 00:09:00 wrong day to run out of money, but they're running out of money on that. They treasury secretary says, Daniel, we're curious to know what you're gonna say about that is today is I Forget that day. I will not forget that I get a card or a gift Nothing from saki you'll never forget this and by the way, I'm in Italy. You will be I mean, I mean That's a good day to be in Italy. I'm good for you I send you her broken calculator the moment no buttons and no screen.
Starting point is 00:09:25 But you'll never forget that your 2021 birthday also has a name. It's the X-date. That's what they call it in Washington. On February 18th is the X-date. Wow. Really? I feel special.
Starting point is 00:09:37 I've got to feel very special right now. I don't know if I've ever heard of that in a long time. No, finance today. You say, I've all these finances. Barack Obama. Barack Obama. This agreed with Biden, which i don't know if you saw that are not made some comments that uh...
Starting point is 00:09:48 media yeah so what will maybe new some has some new ideas about what to do allowing children to have uh... to hide sex operations and abortions from parents which i thought is kind of strange that this bill is about to pass also got made some comments about maxine waters and uh... a few other things something that's's going on in China's real estate sector, that's pretty intense and maybe, just maybe we will talk about the great Donald Leman.
Starting point is 00:10:12 Donald Leman, Donald Leman, whatever one you want to go with because he's had some interesting time. Donald and Chris Koma have been some interesting times together lately, but I think we start off with Sacky. Let's start off with Sacky because we were talking about this whole thing with you know jobs pop people are going to go back you be all this stuff saki said it's unfair and absurd that companies would raise costs for consumers due to higher taxes wow it is absolutely unfair somebody needs to pay attention to their economy class or math class profit and lost it yeah so let me read this to you on what she said
Starting point is 00:10:48 this is a uh... foundation for economic education article i ran famously quibbed you can avoid reality but you cannot avoid the consequences of avoiding reality let me say that one more time you can avoid reality but you cannot avoid the consequences of avoiding reality at a Monday press conference acY was confronted by journal deciding data shown that House Democrats proposed tax increases would violate President Biden's pledge not to raise taxes on anyone earning less than $400,000.
Starting point is 00:11:14 In particular, multiple studies have shown that the proposed increase in corporate tax rates from 21 to 26 and a half will lead to lower wages for workers and higher consumer prices. SACCY responded to the journalist query by downplaying the potential pass along costs and simply declaring them immoral. There are some who argue that in the past,
Starting point is 00:11:32 companies have passed on the cause to consumers, Sackie said, we feel that's unfair and absurd that the American people will not stand for that. Danielle, thoughts. Oh, I'm sorry, really? Seriously, no, she really said this is not uh... no i don't know if there's a real article there's there's nothing to be said about it i mean you you're not
Starting point is 00:11:52 businesses are not in business to be charities that that they're five oh one sees if there charities and that's not that's what china has done to its entire tutoring sector educational educational sector. It has made them all into nonprofits. And lo and behold, what happened to them overnight? They went out of business. So for her to operate under that assumption, when we have a real time example of what happens
Starting point is 00:12:17 when the government effectively says you are a not-for-profit institution, it's just it's aesonine. Sorry, that was probably not a very-profit institution. It's just, it's, it's assinine. Sorry, that was probably not a very polite word, but it is just- That was a lot better than last night, don't mean to. It is what it is. It's true, yes, last night was a bit of, and what is she saying this?
Starting point is 00:12:33 You're saying she's a family. Her job is they get up there and do a spin job and make the president look good. It's not like she's voicing her own opinion. Is she or is she speculating? Okay. This is what the president were like. Who's calling her a shot? You're correct.
Starting point is 00:12:45 It is definitely her job. Unfortunately, Biden couldn't articulate his thoughts. If he tried, I didn't say that out loud. But you're right. It is her job to sell whatever's being, whatever the administration is trying to pedal, it's her job to sell. It's just like Janet Yellen trying to say that 140 countries
Starting point is 00:13:04 are however many countries that she's talking about need to raise the minimum corporate tax. I tell you one thing though, I don't mind the idea of a minimum corporate tax of a floor because every time Congress gets involved with the tax code there's one beneficiary and only one beneficiary and that's the CPA community because all they do is make the damn tax code more complicated, which means you have to pay your CPA more to find the loopholes to get out of paying taxes. Because that's what companies do,
Starting point is 00:13:32 that's what wealthy people do. If you put a floor, if you just say, it's an alternative minimum tax for a company. If you're Amazon.com and you're making billions and billions and billions and billions of dollars and you don't pay any taxes there's something wrong with that so i'm i'm good with the flat tax for corporate what's that like a flat tax exactly exactly what the floor be fifteen percent what's the number
Starting point is 00:13:55 i mean fifteen percent is is a very reasonable number and we get a hell of a lot more tax revenue if we did something like that what wasn't that what the whole idea was that they were trying to... Globally, that's fine. Because you're always going to have... No, no, no, no. That's a terrible idea. Buddy, you don't want that to be globally.
Starting point is 00:14:11 No, I'm saying, but that's what she proposed. No, yeah, she did, but you do not want all countries in the world to have the same ideas. They won't all agree. You will always... There's no competition at that point. I think it was the United Arabian. I'm telling you don't want that.
Starting point is 00:14:24 It's an error, but it doesn't matter. There are going to be there are always going to be countries that look at such global moves as great opportunities to take market share and become a tax haven. Period. So you'll never get all countries to agree to it. There will there's always if it's not Dublin, it'll it'll be whoever Dublin's successor is for Americans to put their headquarters. There will always be these things. That's good. They're smart for not doing that.
Starting point is 00:14:47 They're wise for not doing that. Imagine you're forced to only be with one person, like you're chosen. There's only one person who came to you. You would be miserable. That's marriage, though. But no, no, no, your force to. Marriage is a choice. Oh, right.
Starting point is 00:14:58 You're forced. You're not forced to get married. You choose to get married. In this situation, if everybody's taxes are the same across the world, you're forced, this is it. You ain't got another march to go to, or you know, moon to go to build a business for yourself. This is it for you, right? And I mean, if you look at China,
Starting point is 00:15:15 they're giving tax breaks to industries that they want to succeed, the semiconductor industry. They're not giving tax breaks to real estate companies at all, but they are giving tax breaks to real estate companies at all, but they are giving tax breaks to industries that they want to build internally so that they're less reliant on imports. And over here in the United States, we're talking about jacket up to the corporate tax rate. We're just going about this the wrong way. We really are going about it the wrong way. And her points are just idiotic. I think Sie missed it. You go deep and you really give everyone the depth behind it.
Starting point is 00:15:48 But there is things that are just so simple that it was in front of her. Like businesses are not going to do this. I'll give you a tale of two cities. GrubHub and DoorDash. GrubHub contract did not let you price delivery different from pickup or in. So if you wanted to use GrubHub, your contract said
Starting point is 00:16:02 the price had to be the same for everybody. Whereas DoorDash says, well, wait a minute, I'm going to charge you 30 bucks. If you want to put a $3 service fee or something on that, it's going to be delivered. Great. Well, two years later, GrubHub is suffering and nobody wants to work a GrubHub. None of the restaurants want to work a GrubHub. You're killing me. You take 30% to deliver. I can't even put a service fee on it because you're controlling my pricing, which is basically what the stock is saying. The price control.
Starting point is 00:16:30 DoorDash says you want to put a service fee on there to cover 30% fine. I just want to deliver it hot for people that love your food. DoorDash is 50% market share. Three years ago they were 16% three years ago. Three years ago grub hub was 50% market share and they're 16 today. The two three years ago three years ago. Grubhub was 50% market share And they're 16 today the two numbers are complete opposite complete opposite good for them That it's it's fantastic for doordash and so it's called
Starting point is 00:16:53 That's that's great. That's so that's worth this to be competitive in a capitalistic economy So not only does Sacking out of a calculator. She obviously doesn't have internet access because this is been a story for a time this is another opportunity of dividing conquer blame ever divide pin employer against employee exactly constantly pin them against each other and tell them it's the employers fault it's the employers fault it's the employers fault you know this whole build that came out of the raised prices did you guys see that one senator from uh... west virginia it's a bar also what's his name bar also the john bar also but i don't know i want to say why only why only yet he's from why only so he he went out there he went out there and
Starting point is 00:17:31 he said uh... the whole thing about well you know who's seen this twenty five hundred page uh... uh... what he called bill who's taken a look at this et cetera so many people you think i've read it and they expect us to yet john bar also yeah and so but here's the thing what we did. I said, okay, I want to know the bill. I want to read the bill. I want to go through it. Kai, how many hours that we spend looking at the bill and did you find anything?
Starting point is 00:17:53 Could we find the bill anywhere? At least a good hour and we couldn't find it anywhere. We were looking at literally the first two or three pages on Google trying to find Congress's website, the government's website, everyone. It's probably on the dark web in China. So there is some websites that are talking about it. Let's go to page eight, guys. There's some websites that are talking about it.
Starting point is 00:18:14 And some people who are sharing some points on what's in it. This is one of them. And I'm going to cover, Kai, if you want to pull up the article that even the audience can see, this is from what? This is Fox Business, go to page 8. If you can find that article, what's in it? One of the ones that's in it is really concerning on page 168 of the bill. 168 of the bill, which we don't have access to the bill, but 168 of the bill, it covers
Starting point is 00:18:40 a fine, I don't know if you guys have seen that, $700,000 fine, but let me get right into it. So, $3.5 trillion spending package includes big money for tree equity, biased training, and more. Apparently, one of the things on page 168 of the bill is, if an employer has an employee that's unvaccinated, it's $700,000 fine per employee that's unvaccinated. Let me say that one more time. If an employee is unvaccinated, it's $700,000 fine per employee that's unvaccinated.
Starting point is 00:19:16 How many companies can handle that? I don't know how many companies can handle that. And this is all over the place, about the $700,000. So you got nearly $79 billion seventy nine billion dollar bill for the irs uh... folks added a three and a half trillion dollars eighty billion of it is purely for irs twelve billion for electric cars
Starting point is 00:19:33 three billion for tri equity one billion to turn government into a facilities into high performance green buildings and new funding for gender it identity issues and bias training amongst the most contentious provisions the bill gives a substantial funding boost to internal revenue service that stands again eighty billion dollars over the next ten years so out of the three and a half trillion dollars the biggest money's going to the iris that makes a lot of sense
Starting point is 00:19:56 i mean folks we should vote for it's this is absolutely fascinating to have more iris agents going and trying to find that six hundred dollars that they're talking about the money would help the IRS strengthen tax enforcement activities. What a friendly thing to say, the IRS strengthen tax enforcement activities, something we all love and support, expand audits
Starting point is 00:20:17 and modernize its technology. An additional $410 million would go to IRS oversight. Democrats also putting equity at the center to build the agriculture committee has him uh... earmarked three billion dollars for tree planting program with the priority for projects that increase uh... tree equity the legislation dishes at another four billion dollars for neighborhood access and equity grants meanwhile its electric vehicle charging
Starting point is 00:20:37 equity program comes with a one billion dollar price tax senator joe mention uh... from west virginia christine uh... cinema from Arizona, both Democrats have been the most vocal in their opposition and even they have been negotiating separately. Manchin told political on Thursday, what's the need? There is no timeline, I want to understand it.
Starting point is 00:20:56 While Representative for cinema told the same outlet, Kristen recognizes there's a timeline, there's gotta be a process but said she was consulting with colleagues about the key provisions, the cost of the bill. The cost of the bill originally was $3.5 trillion, but the non-partisan committee of a responsible federal budget wrote in July that the true cost would be,
Starting point is 00:21:14 and the being around $5.5 trillion. The New York Times respond a Monday morning that the current bill is likely to cost well over $3.5 trillion. Again, that's not New York Post, that's New York time saying it's gonna be be well over three and a half trillion dollars. And last but not least, figuring out the true cause could take time to build formally known as the Build Back Better Act Ways in 2465 pages, 444,000 words. That is three times the size
Starting point is 00:21:40 of Atlas Shrug's book, which is a long book, and each page is $1.4 billion. Okay? It's what you're looking at. So, that's why Manchin says, we need to take a pause. We need to pause. Tom brought up a great point. I mean, think about the worst legislation that's ever been done in this country. It's legislation that wasn't read.
Starting point is 00:22:04 And that's, I mean, right Tom? Do you remember the ACA? Yeah, of course. I see if you can find the clip from Nancy Pelosi when she got cornered, said, what's in it? Well, find out what's in it when it's passed. Yeah, I know. You just have you read it.
Starting point is 00:22:17 No, why is that even acceptable? Like, whether you're a Republican or Democrat, why is it even acceptable to say? Let's just look at this when we're already passed the bill why does that make any sense they need to change the time by the way she put it out yesterday that it's a slush fund they're passing dollars not bills they're passing dollars not how much of this three and a half trillion dollars is going to the people that that's how much it so forget about republican democrat how much of this
Starting point is 00:22:43 money is going to the people stimulus from what I have No, no, no, no, no, no, they are they are extending the child tax credit which is being paid in cash right now Yeah, that's not that's not you're talking a child tax credit with it. We did two different things on talking But that's a major part of that is controversial. That's that's not that's not okay So what percentage of three and a half trillion dollars gonna go to the people? I don't know, but here can I just give you what the top five things like I know we talked about IRS.
Starting point is 00:23:12 80 billion. 80 billion, 12 billion for electric cars, three billion for tri equity, whatever that is, one billion for genders. Okay, those are minor, you know, lines on the budget. The big five apparently of this three and a half trillion dollar Spending plan is climate change you talked about the child tax credit, which is apparently is a big deal if you got kids Universal pre-K right now that doesn't exist in the country
Starting point is 00:23:35 Fade family paid family leave and expanding Medicare to cover I guess dental vision and other things So those are the big five things within this bill. Now within each of those categories, I'm sure there's, like you said, slush funds and why won't they show what the categories are, but those are the big five categories. And it's spread out over 10 years, I mean, please. So here's the challenge.
Starting point is 00:23:57 Here's the challenge, you want. You got a center-of-the-art question. Yeah. Here's the challenge I got. My challenge is the following. If I'm correct me on this one, but I read in like, handful of different places, this is the only one that a bill like this pass
Starting point is 00:24:09 and there's no hearing. So they're not having a hearing, meaning they're not willing to have a hearing to answer what's in it. So you know how typically there's a hearing then they'll say, why this and why that and why this? They don't wanna do hearing. So there is nobody from the opposing side
Starting point is 00:24:23 or mansion or Kristen, they cannot ask ask why are we spending this much money in this that's a problem because that that's why mansion has said what happened Kai Kai found something you found the bill I think Tyler found the bill can you go to page one sixty eight of the bill go to page one sixty eight I want to I want to verify this because this doesn't make any sense to me so uh... pop up pop up up in addition to amounts of otherwise available any of the the money, the Treasury and others appropriates one of the 300 million months. Good. There it is. Line 15, Pat. Line 15. Okay. Uh, occupying the safe, help, act of 1970 occupation of the European, the European, the European. So, I'm trying
Starting point is 00:24:57 to see where it says the vaccine, the employment commission. Uh, so you got occupational safety and health act of 1970 1970 section 17 of the occupational safety health. Yeah, because Oh sure, it's going to be their cop. In subsection 1A, a striking $70,000 and inserting 700 dollars. There's the increased fine. Now we got to find just by striking. Oh, so they're increasing it from 70 to 700 by in fifty and inserting fifty thousand ten times the fine
Starting point is 00:25:26 just ten times oh my gosh by by striking seven thousand and serving seventy thousand but guys this is remember this is how bad legislation is passed because they're desperately looking and who wants to bring back the salt deduction you know for set for for right property taxes, state, I mean, the Democrats, they actually want to put, there are some Democrats who are opposing this bill if it does not
Starting point is 00:25:52 get rid of the cap on property taxes. And this is, this is Biden, remember, being told, I'm sorry, you can't, you can't do that with an executive order. You can't force vaccination to the executive order. Well, who could we do it oh we'll get osha we'll get one of our many cops and government and will throw it at osha so that osha goes out and does it but this this three and a half trillion dollar spending bill isn't the only
Starting point is 00:26:18 thing on the agenda right now you were talking about the big four things that are on the plate right now if you want to if you want to touch on that so republicans a few days ago, they said to Chuck Schumer, who's the Senate majority leader right now. Schumer kept trying to put the debt ceiling inside of the continuing resolution to keep the government open after midnight tonight. Because midnight tonight is when the United States
Starting point is 00:26:43 fiscal year ends. Yeah. That's something I learned, by the way, that the fiscal year when the United States fiscal year ends. Yeah, and that's something I learned by the way that the fiscal year of the United States ends September 30th. September 30th, not at the end of the year. No, it's not a calendar year. It's fiscal year. We learned something everybody. Go ahead. So, but after midnight and the Republicans are going to vote for what's taken to the floor, but they said you've got to take the debt ceiling out of it or you're not going to get the votes.
Starting point is 00:27:07 So Schumer had to pull back and they've removed the debt ceiling which takes us back to Patrick's birthday, October the 18th, X-Date. That's the date at which, I mean, if your family's got plans to go to Washington, D.C., you might want to take the Smithsonian off the list. That's when federal agencies start to close. When did the government just take external pictures? Well, yes, and that's
Starting point is 00:27:28 when it was the last time the government shut down oh gosh was it 2000 Was it 18 wasn't an 18 the famous Trump Pelosi's Schumer meeting? No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, thought that they were cousins, kissing cousins at that. It was so non-controversial because it lifted the cap past the election. So whoever got elected in 2020 would have unlimited spending power until July 31st. Yes. And that was the reason that there was so little controversy. I think when Clinton was in office, I seemed to remember federal workers. No, there was something like two, three years ago where the government shut down for like
Starting point is 00:28:29 two months and you had federal workers going crazy, they couldn't pay their rent. It's, but this was recent. Yes, this, this does happen from time to time. The reason it's different right now is because the Republicans are, this is a quote from Mitch McConnell. They asked a reporter asked Mitch McConnell, what did you learn from 2011, which is when the US sovereign debt rating was downgraded, he said, what I learned was even though I had pressure from within my party. So even though he was getting pressure from within the GOP to kill who been kidnapped. And that was the analogy that he used.
Starting point is 00:29:03 This was the tea party doing their thing at that point. But he said that the lesson that he learned is you don't do it, you collect the ransom. And that means that you actually force negotiations to address entitlement spending so that the debt of the United States quits running up at a crazy rate. And that was why S&P downgraded the country.
Starting point is 00:29:24 They were like, what are they doing? Why are they doing this? They're still not addressing long-term entitlement spending that the country cannot afford. And as long as you continue to ignore those elephants in the room, and in this three-and-a-half trillion thing, it wants to go the opposite direction. It wants to create social spending programs that never go away. You never create a government program that gets canceled. It doesn't work that way. Yeah, they use the determined title man,
Starting point is 00:29:47 like crazy, entitlement entitlement. What's the biggest entitlement? Medicare, Medicaid, Social Security. So security. Is those three? And then welfare, is that part of it? Excuse me. Is that part of it?
Starting point is 00:29:54 Entitlement. Unfunded entitlement? Unfunded entitlement. That's exactly right. That's exactly. Liabilities. So they're talking about what's, they're, unfortunately, in 2013,
Starting point is 00:30:04 for then Federal Reserve Chair Ben Bernanke, they had a blueprint drawn up. Well, gee, the Federal Reserve owns a whole bunch of U.S. Treasuries because it's been buying up U.S. Treasuries for all this time. Now, it owns 25% of U.S. Treasuries. There is a blueprint to strategically default only on debt on the Fed's balance sheet.
Starting point is 00:30:25 And it was written up for Ben Bernacchi in 2013. I can guarantee you that the Fed hates the fact that this document is actually in the public purview, but there is a way, and Mitch McConnell knows it. There is a way for the United States to strategically default on the paper owned, on the bonds owned by the Federal Reserve. And man, Fitch and Moody's would be right behind him downgrading just like S&P did. If they did it, it's the nuclear option, but it's a nuclear option that Mitch McConnell is very aware of. You think he'll use it? You think he'll use that car?
Starting point is 00:30:56 I mean, look, the stock market's up, the economy has not fallen out of bed. Inflation's a real problem. And right now, as long as the economy doesn't fall out of bed. Inflation is a real problem. And right now, as long as the economy doesn't fall out of bed, which threatens the midterms for all incumbents across both parties, I think Mitch is going to take this thing to the wire. So, if he takes it to the wire, let's just say he takes it to the wire and he uses that cart. What happens to the economy? How ugly could it be? It could be very ugly. Ugly is 20% or 10%.
Starting point is 00:31:25 It could be. The United States defaulting on its debt. I mean, just say that. Repeat that. The United States of America, the risk-free asset for the free world, not paying its obligations, not making an interest payment. You hear about that with third world countries. Argentina. How many times has Argentina defaulted on its debt? Greece. Count the way, Greece.
Starting point is 00:31:49 Those are the kind of countries that you have conversations about debt defaults not in the United States. Across the aisle are the, the, the, the McConnell's of the world, the Pelosi's world, the Schumers of the world. Privately saying like, look, this isn't a good look for America, the default on our debt.
Starting point is 00:32:05 We got to figure this thing out. Are they having the public? They're going to talk, they're going to say one thing. This is the thing, and this is the reason that Mitch McConnell gave Chuck Schumer the bird a few days ago. And this is what Mitch McConnell has been insisting. If you want to raise the debt ceiling using reconciliation, straight on party lines go for it. They won't even need advertising agencies for the midterms
Starting point is 00:32:29 if the Republicans manage to flawlessly, easily, elegantly put $7 trillion on the Democrats. I mean, that's what Schumer is not going to do. That's what Schumer and Schumer won't do it. That's why they will not raise the debt ceiling using using reconciliation because that they'll all get voted out of office and you try to slip it in there and mcconnell said take that cheese off my hamburger you do we're buying the burger but take that cheese and that's why that's why shimmer keeps saying it's you know this is just as we cannot default on the debt
Starting point is 00:32:59 and mcconnell keeps saying then raise the debt limit along party lines own it so that's a lot of time provision chuck and there's we're all sitting here in the chamber Donald keeps saying then raise the debt limit along party lines. Own it. It's the last time. It's the only simple provision, Chuck. And there's, we're all sitting here in the chamber. Why don't you walk to the front, make a few preamble statements, and put it on the floor, baby. I mean, in 2019, we raised the debt limit by like two trillion. This is like three X that.
Starting point is 00:33:19 And don't get me wrong. This is debt that was incurred during the Trump administration. This is the CARES Act. This is the trillions and trillions and trillions of dollars that were legislated. It is money that has been spent, but the Republicans are saying to the Democrats, own it. Put your name on it. What should everyday Americans understand and or do about all this? There's a lot of high-level stuff, the debt limit, I don't know,
Starting point is 00:33:43 McConnell, like a lot of political macroeconomies of what should everyday Americans do or understand about what they can do? Just so just pull up the debt clock the national debt clock I mean just just look at it just look at it go it's not a pretty thing no your average American should be pissed off that the US government cannot seem to find its way to curtail spending but even even if they're pissed off, what does that do for them? Like they still need to do, that's not like they can do anything about that. So they need to pay attention to people like Joe Manchin. They need to pay attention to the few legislators
Starting point is 00:34:14 who are standing up and saying, this is enough. This three and a half trillion dollars is highly unidentified. You're raising all kinds of, the fine print is absolutely ridiculous because you're trying to say that you can pay for it when you can't. And that's why we're not seeing this whole thing. That's why it hasn't been read.
Starting point is 00:34:36 That's why the CBO hasn't scored the whole thing. We don't really know how it's going to increase tax revenues enough to offset what it's going to be and that's why they don't want to talk about the details. Americans should be pretty pissed off that they want to just legislate blindly because we the people are the constituents and it's our money that they're spending. The average American what they need to know is this. Adam, you could do it this way Excuse me, um
Starting point is 00:35:07 ma'am have you ever had a credit card that you got out of control on and the you couldn't afford the interest each month That was suddenly the minimum payment. Well, yeah, that really stung but I've been there. That's terrible I couldn't my minimum payment wasn't even the interest Okay, when that happens to the United States of America and things fall over and we can't pay it, milk goes to $7 a gallon because of inflation. You have to break it down very basic for the average, you know, America because there's a lot of things in there and I'm not trying to insult the man on the street. If you're talking to the men or the country as a credit card, they can't even pay the interest on and when it tips over, inflation goes up, people have to feel it. That's right, they can't even pay the interest on and when it tips over
Starting point is 00:35:48 inflation goes up people have to feel it milk that's right that you're gonna feel it they're gonna feel it and their gas tank they're gonna feel no carry or a gallon and by the way america you may already be feeling it certain places right now that you're like what are you talking about you know I don't understand inflation don't understand this work but I do know this these are things this year in my life are costing me more. They understand that. By the way, they're cornering the business. So here's what happens with the business owner.
Starting point is 00:36:10 A business owner sits and thinks about what? So imagine a small business owner that's doing gross half a million year. They're gross and half a million and they're netting 20% which is what. They're taking them 100 grand a year, right? Let's just say small business owner does a million a year, two million a year, two million a year, you're netting what? 20%, 400,000 dollars, if you're a restaurant, you're at any 10%, which is 200,000 dollars you've taken home at two million.
Starting point is 00:36:31 You're not making a lot of money. Now here's the thing, how quickly can that two million a year business owner that's making 10% to 200,000 dollars take home, how quickly is he gonna be affected if that 10% becomes 5%? So that 10% on 2 million is what? $100,000 now. Right. You can't pay. Now taxes are going to go up. So you're 5% $100,000. Now you're going to keep less. Your kids
Starting point is 00:36:55 are going to school. You're having to take care of your family. You're having to pay your bills. Now you have to sit there and say, we got to let go of a couple of our employees because I need cash. If I run out of cash, I'm going out of business. If I go out of business, I got to let go of couple of employees because I need cashman if I run out of cash I'm going out of business if I go out of business I got to let go of the story employees that we have here and I can do that so I got to get rid of three employees. Did I mention that in that unemployment claims of risen for three straight weeks as companies share a conversation. You have to think of it this way. I always tell people if somebody sells you they make 10% or 20% just flip it upside down. So if the economy moves 11%,
Starting point is 00:37:25 that business owner that had 10% at the end of the day, they're dead. Because 11% is more than the 10% do you understand what I'm saying? So you make 10% on your little business at the end of the year. The economy and inflation, everything whack, 11% decrease across everything.
Starting point is 00:37:42 You're dead. Because you just took the 10%. That's right. You're dead. And if you have loans and some of your equipment and stuff, you've got no buffer. You've got no way out the back door. You are going to feel it. Kai, pull up this Forbes article.
Starting point is 00:37:54 So you know the whole $700,000 we're talking about. This is the Forbes article. Biden's Vax mandate to be enforced by finding companies. 70 to $700,000 go a little. Yeah, so let's see if this is true. Joe Biden didn't announce just a COVID vaccine and they're on companies employing 100 or more people. He plans to enforce it on Saturday.
Starting point is 00:38:09 To speak in answer, Pelosi, I would have to go to God it. On page 168 of the House Democrats, 2465 in Roosevelt, willfully repeatedly, or even seriously violate a section of labor law that deals with hazards, deaths, or serious physical harm to employees. The increased fines, unemployees could run as high $70,000 to $700, dollars for willful or repeated violations,
Starting point is 00:38:28 almost three quarters of a million dollars for each fine, if enacted into a law of tax enforcement, could bankrupt non-compliant companies, even more quickly than $14,000 OSHA fine, anticipated under Biden announced mandate. So this is a show, we just read it. We just read it. This is legislation that will not work. Now this is exactly what we're looking at. Yeah, said we just read it we just read it was legislation that will not now this exactly what we're looking at yeah and
Starting point is 00:38:47 for purchase that verified it so for this is not a uh... spoof website this is a copy because it can't be done with an executive order so he's gonna have ocean to form there's not like he mentions not voting for this i know he's not the name is not voting for this it's not it's not going to be legislated in you know what is starting to happen? You know what is starting to happen, which is so beautiful. I love seeing this. This is what's starting to happen. You know, so think about a regular Democrats. Okay, I'm not
Starting point is 00:39:15 talking about progressive. I'm talking about a guy that's a JFK Democrat. I'm talking to a person like even a Clinton Democrat. Okay. And then you go to a Reagan Republican. So you got Reagan Republican. You got Clinton Democrat. I'm not talking mag. I'm not talking all the I'm just talking purely Clinton Reagan Republican Democrat. Do you know what neither one of them likes in a different way? So Democrats Democrats don't like to be forced to get an abortion, right? They believe in what they believe in pro choice Okay, set the faith aside if I want to do it I want to do it. So they're like don't force me to do anything. I want to have the choice to do what I want to do in my body.
Starting point is 00:39:46 Fine, no problem. Republicans don't want to be forced to do anything with their businesses. Leave me alone, let me go make my money. Don't constantly get in my way. Just leave me alone. Both don't like force in different areas of their lives. So the other day, the most random thing I've ever seen, is seeing BLM and MAGA Trump supporters protesting in the streets, a few hundred people
Starting point is 00:40:12 about don't force me to take the facts. It's the weirdest things I've ever seen. Did you ever think BLM and MAGA was gonna support the same exact thing? Here's what's starting to happen. This isn't about Republican or Democrat anywhere. This is about people are sitting on saying, what the hell is going on? I don't know if I'm a Democrat or Republican at this point. I just don't think this stuff is making sense.
Starting point is 00:40:33 What the hell are they doing? What the hell are these guys doing? And more people are starting to sit there and say, look, forget about, I have to agree with everything that a Democrat says. Forget about, I have to agree with everything that a Democrat says. Forget about, I have to agree with everything that a Republican says. This shit just doesn't make any sense. What the hell is going on? I want a job, I want to support my family. I'd like to get a promotion. I'd like to maybe have a shot at making more money.
Starting point is 00:40:54 Maybe I'd like a benefit. Maybe I'd like equity one day. Maybe I want stock options one day. Allow me to one day buy nice, 700,000 Auto House. Maybe a million Auto House 20 years later. I just want to grow and I want to have a good life. I want to watch football, I want to have a beer. I want to kick it when talk to my friends
Starting point is 00:41:08 and know we have differences. When you force people, you're indirectly getting people to get closer to each other and realize, listen man, we kind of need each other right now. This stuff is getting weird. They can only do stuff like this for too long until people start to realize, we have more in common than we thought we did. They did only do stuff like this for too long until they until people start to realize we have more in common than we thought we did. They did a great job dividing us and start
Starting point is 00:41:29 to unify us right now. That's when you start seeing the government getting scared. The government gets scared when people on opposing ideas start agreeing against you. You're in trouble when that happens. You have a big problem with that happens. What was the shirt that Rihanna was around the other day? Yeah, think while it's legal. Think for yourself while it's legal. Okay, so you still liberties from everybody you unify the mob. So to your point Joe Manchin traveled to the state of Texas my home state and He was hosted
Starting point is 00:41:59 with the fundraiser with all GOP funding Wow to your point with a fundraiser with all GOP funding. Wow. To your point. Well, they come to the conclusion. How weird is that? To your point. I love that.
Starting point is 00:42:11 Good for him, by the way. Somebody, people are saying we have to learn how to cross the aisle again. We cannot continue to legislate purely on party lines. It doesn't work this way. And that's not what our country is, but our forefathers are spinning in their graves that this is what's going on in congress and the congress is this is
Starting point is 00:42:29 dysfunctional that was a lesson joe mentioned that a long form podcast has joe done a long form podcast to even for to get the regular people to know who he is has he sat with somebody to three hours and just talk to people and explain to him not not that not that i'm aware of but remember him from his point of view. Not that I'm aware of, but remember, I mean, his day. He goes on Morning Joe quite often.
Starting point is 00:42:47 No, that's not what I'm to do. That's not a two hour podcast. No, no, no, no, no, no. That's just, she's on Barney and Friends all the time. She's on TV all the time. Daniel is always on TV, right? No, five minutes here, seven minutes here, ten minutes here. Then Daniel comes to your system with us.
Starting point is 00:43:01 The first time we sit down, it gets 18 million views all over the world, the short clips, all these other guys pick it up because now people found that, hey, this is what Daniel is all about when he talked for two hours, right? Now, it's a completely different mindset, right? I think Manchin needs to go on a podcast for a couple hours and sit down and talk.
Starting point is 00:43:18 I think the American people need to know why a democratic guy from where? West Virginia thinks the way he does. I think he's such a necessary guy. He's a good guy. He's a good guy. He's a good guy. And of course, I mean, of course, this was the energy industry in this was GOP fundraiser backed by the energy industry, but, but jobs were lost in his state. He's a cold country guy. The Keystone pipeline was unnecessarily canceled. Jobs were lost unnecessarily. If anybody wants to get mentioned on the podcast,
Starting point is 00:43:51 if you know him, send a tweet, tag him, put hashtag PBD podcast, Joe, if this comes to you and if you're listening, we would love to host you here long from two, three hours for the American people to find out why you don't support the three and a half trillion dollar bill not for a five-minute speech or ten-minute speech for two three hours so we can learn more from you again if anybody knows them let us know we'd love to have Joe here on the podcast saving America with Mitch and mansion you imagine that I would be great
Starting point is 00:44:20 I'd listen every morning I actually want to hear Joe speak long. But we need a Joe mansion. We need somebody who's younger and inspiring like JFK was way back when we need, even though JFK's really shouldn't have been elected. That really was serious voter fraud, which they found out years later that Nixon should have been. Anyways, I was West Virginia, by the way. I digress. Yes. I wasn't. I wasn't. Do you know he didn't eat it. I know he had it. I know it
Starting point is 00:44:48 was West Virginia. Yeah. But, but, but, Kennedy's dad and the bootlegger. I think it's February 18th that Mitch McConnell turns 80. I mean, it's good that Mitch McConnell is making a last stand. Maybe he wants to go out his Senate majority leader. Maybe he's saying, I want those midterms. And I want to retire on my own terms but he's turning eighty years old we need young blood in congress and the age of the average senator has just been increasing for years which doesn't represent the united states of america demographically
Starting point is 00:45:18 there's this huge disconnect between our representation you need to dust some of these people you mentioned axine waters i nancy close to these people have been in congress who just longer than i've been alive to years old chuck chuck grassley how old is chuck chuck grassley is probably the oldest senator from Iowa chuck grassley that guy i mean it's actually pretty moderate to be announced he was he was in old dude he's got to be in his late eighties i'm just an answer he was he was running for eight eight eight eight years. She's running again.
Starting point is 00:45:45 There it is Pat. Next year at the election, he what are we talking about here? Yeah, he turns 89 right before the election. The millennials need to step the hell up here. This is ridiculous. Kai, we have that. Yeah, I mean, okay, I was five years old when this guy was hiding on this guy.
Starting point is 00:45:59 Kai went to I spirit. Yeah, by in spirit. Yeah. Daniel, let me ask you, we're hammering home this three and a half trillion dollar thing We're hammering at home. We're breaking it down. We want to know what's going on Meanwhile, there's a separate $1 trillion infrastructure package that apparently has been agreed upon by partisan sides. Yeah, okay Why isn't that at the forefront right now? We should Google that today because Pelosi keeps saying that she's gonna be able to bring this build at the floor today
Starting point is 00:46:23 She keeps saying that she's going to be able to bring this bill to the floor today. She keeps saying that it's coming today. It's coming today. And the progressives led by Bernie Sanders are like, hell no, it's not. I'm not. And that's the thing. They will not, the progressives in the Democratic Party will not vote for the 550-someod trillion true infrastructure. Well, you know, meanwhile, while the country crumbles and falls apart, something like that
Starting point is 00:46:45 would create real jobs by the way, PS. Nancy does not have the votes. She does not have the votes, and what the progressives have maintained this entire time is, I will not vote for the real infrastructure bill unless you parallel vote on the same day at the same time for the three and a half trillion dollars. That's blackmail. Which we won't tell you, which we can't even score. And it's a really good point.
Starting point is 00:47:07 And this is Schumertrick. And Steve Chuck Schumertrick. Pat broke this down actually quite well on the Democrat side. There's sort of like two civil wars going right there on the Democratic side of things. You've got the Bernie Wing, the AOCs, the Rashid Tullib, you know, the super progressive Elizabeth Warren, one of their, and then you have the more the JFK moderate Democrats, the mansions, the cinemas, the sozniks, you know, we're kind of hanging out there.
Starting point is 00:47:31 And then on the, on the, put yourself in a category. Wow, did you notice? And then there it is. And then, and then, are you looking for a job inside of things? Are you looking for a job in the mansion? The administration and the future.
Starting point is 00:47:42 I've been talking about Joe Manchin for like four years. He actually has. I think that guy's great. A Democrat getting elected in West Virginia, or a tweet we totally, we totally, but on the right hand side, this is actually what I want to get your opinion on, it's because I feel like you're more of a Reagan Republican
Starting point is 00:47:58 conservative, fiscal conservative. I'm totally fiscal. Okay, and then you've got the whole MAGA situation, which it seems like MAGA has taken over the Republican Party I don't even know what a conservative George will even means anymore. You know what yes and no yes and no how many of the 50 Republican senators signed a petition to not raise the debt ceiling of the fifth just take a guess how many of the 50 signed a petition
Starting point is 00:48:22 Vowing to not increase the debt limit until entitlement spending was addressed. 48. 46. Okay. Yeah, because they're old as fucking dusty 88 year old Republican, but that's not who they're constituent. No, no, no, no, no, no, no, no, no, you're missing my point.
Starting point is 00:48:38 There is unity right now in the Republican Party because I think that there is sanity returning to Patrickrick's point i think that americans have hit their pain threshold and want for politicians period whether their democrats or republicans to legislate for the people and i did i mean as part of that because the cult of personality around trump is no longer there influencing them
Starting point is 00:49:01 okay so i got two things i want to show you. One of them I'll show afterwards because Nancy Pelosi has become a psychic and it's legit psychic. Psychic? A psychic? Not a psychic, a psychic. Nancy has become a psychic.
Starting point is 00:49:15 She can predict what stock is gonna go up. Like the Simpsons? I'm gonna read that to you here in a minute. But before doing that, I want to read you, we'll go through that in a second. I like the scandal at the Fed because it is passing. It is like, wait a minute.
Starting point is 00:49:28 This is like, get that yell fired up. What else is before doing that since? Congresses are conducting insider trading. Hit that button. Since we're on this story with Trump and the Santas, you're talking about. Did you guys hear what came out with the Santas yesterday? No. Did you see the article of Bloomberg? I just sent it to you pull it up. I emailed it to you
Starting point is 00:49:47 So this article came my yesterday from Bloomberg talking about who is supporting the Santas for 2022 potentially 2024 him against Trump 2024 obviously he talked yesterday that is running again for you know 2022 governor But watch this so Wall Street for 2022 governor for watch this. So Wall Street publicly, they're finally making it obvious who they're supporting for 2024. If a Republican ran, pull up the article kind. I just send you a Bloomberg article. Take a look at this.
Starting point is 00:50:16 So this is Wall Street helps run the Santa Samas a hefty war chest for 2022 Wall Street. Okay. Florida's governor has raked in millions from donors like King Griffin and Thomas Peter, Peter Fie, who calls DeSantis his favorite man. That's pretty fair. 43 years old. When it comes to likely, probably in President Kennedy and Tony Dorn, for Wall Street,
Starting point is 00:50:39 I'm not saying that for all of you. DeSantis non-former, Donald Trump, who's been teasing another run at the White House. A fifth of the $55 million that the census has raised this year came from hedge fund billionaires, private equity bankers, investment managers, or other finance industry donors. Trump who got less than 2% of his 2020 re-election fund from Wall Street has raised a bulk of a hundred million out of watches from small donors. I go a little lower, check this out. This is the breakdown Black the santis blue
Starting point is 00:51:07 Trump donors 18.6% From securities and investment industry versus 1.9 That's that's that's not small. Okay, yeah, did you see this or no? This is not okay, no? So Republican conservatives, 12.6 versus 3.6, real estate, real estate, his industry, three times, 9.3 to 32. But retired Republican 242, the Trump 242, the Santos A2, lawyers and law firms nearly four times, 2.5%. Okay, I'm sorry, but here's a trick. So this ought to tell you a lot by the way.
Starting point is 00:51:47 What does this tell you exactly? Tells you a lot. Tells you that even, yes. Even Wall Street is okay with the sentence being a president, but they would much rather have him over Trump. And how many of his ideas are, ideas are totally different from Trump's?
Starting point is 00:52:01 Not much, but do you remember when I asked the question? Wait, wait, wait, wait, wait, wait, wait. I have a trick question. I have one more trick question for Adam. Oh, it's here. Oh, who? Sure, I won't get it right. Oh, my gosh, don't do it.
Starting point is 00:52:12 You're challenged. It's too early in the morning. Don't hurt my ego here. Who donated to both of Kamala Harris' campaigns? Who donated to both of Hillary Clinton's campaigns? And who signed paying people to not work into law? Donald J. Trump. Thank you.
Starting point is 00:52:26 So I get a right. Have you noticed that Republican conservatives and people in securities, they, he's the one who signed the damn bill. He's the one who got Americans. How much did the federal debt go up under Trump? Because he's a New York Democrat, which they get. The guys in New York who are in Palm Beach now, whatever they understand, they know who he is and remains which is a new york democrat you're talking about you're not plugged into newsmax twenty four seven like the retirees
Starting point is 00:52:51 they think for themselves i think there's a typo here i don't see the types of data florida vision of election and center for responsive politics i think that's supposed to be responsible i don't know so it's not the small part of the world but but but going back to the response i don't like the fact that he's going back to this here's here's where i go with this is interesting this is why i ask rogan i said rogan go to twenty twenty
Starting point is 00:53:14 four go to twenty twenty two when republicans start running for presidency kai who's gonna be on that stage as it is a trump gonna be on that state she said yes this and it's gonna be on that stage yes as it is a pants gonna be on that state she says i don't think so Santa's gonna be on that stage? Yes. Yes, as it is, Pence gonna be on that stage. He said, he said he didn't think so, right? No. Then we talk about what? Nikki Haley, all these things, right?
Starting point is 00:53:30 Okay. I said, Tucker, he didn't think. Tucker, right? But Tucker was fifth, one percent there. I don't see Tucker. Okay, I don't see, because he's got a good life. Why would you do it? So, you go through a lot of these guys that you look at.
Starting point is 00:53:39 Okay, a lot of people are saying a Trump the Santa's ticket, Trump the Santa's ticket, right? Trump the Santa's ticket. Trump the Santa's ticket, right? Trump the Santa's ticket. I don't think the Santa's does it. It's not that the Republicans may not like that or that may not work. That's sitting on DeSantis's mirror right now. He printed out the chart and it's sitting
Starting point is 00:54:00 on his mirror right now. When he's shaving, he's looking at it. So here's what my concern is. Here's what my concern is. Here's what my concern is Here's what my concern is you ready? Here's my biggest concern My biggest concern is that 2022 2023 remember when I said this this is a big concern of mine My concern is when these guys are on stage and Trump starts let you say the Santas takes the lead and those pulse come out and
Starting point is 00:54:24 Trump goes to try to destroy the Sanctus, the party starts going at it against each other. There could be a lot of conflict there, if that takes place. I don't see Trump saying, yes, the Sanctus is the face, you go ahead and do it. I can't see that happen. Okay, okay. That even close.
Starting point is 00:54:41 But in order for your scenario to play out, don't you think that the Democrats would have to retain the senate and and congress in twenty twenty two and if there's a blood bath in twenty twenty two in the midterm elections and which is normal and the conserve which is very normal and the cusser pissed off about the three and it's you know it's it's poised to be that but it's poised to be if you look in history it's practically it's
Starting point is 00:55:03 a place to be i mean polosies got what three three three seats in congress swing factor for her votes and you just need one in the senate what i don't know if people are tired of listening to polos yet in people want a little bit more polos it's very pleasant to help us all all i'm saying that you have to pay out your scenario does not necessarily have to play out if 2022 is a bloodbath and Republicans start to push back and Legislate for the people and work with Joe Manchin and cross the aisle and be more like Clinton and be more like What are you going with this? I'm saying that there is a shot. There's a shot in hell that if the midterms are bloody enough Yeah, that the Republicans take Congress back that there are enough moderates emerging in the Democratic Party that we
Starting point is 00:55:49 might actually be able to legislate in America again, which we haven't done for a long time. You bring up a really good point, and if you know your history and if you don't, I'll share some. But what happens with 2024, though? What does that have to do with 2024 with the Santhus and Trump? It has to do with uniting the country. And people saying, I don't want somebody who wants to divide us. Now that I've started to see what united can look like, our Congress is actually working
Starting point is 00:56:14 for we the people. Finally, for the first time in a millennial's lifetime, there might be a functional Congress. So, are you saying we won't want like the American people are not going to want to trump as a candidate is that what you're saying the american people would if if they start to really cuz the job i didn't said he was going to unite the country he's torn it further apart than it was before american's your most part if if there is a if there is a means by which to truly unite this country if there is then
Starting point is 00:56:44 then americans will not vote for somebody who they know is going to divide it. That's all I'm saying. And you're saying that that's what Trump would do. Is that what you're saying? That is and has been his strategy. I don't, I mean, does a tiger's stripe change? Not when he's 78 years old.
Starting point is 00:57:04 Oh yeah, and by the way, look again, I think we need a young, inspiring, dynamic, energetic, out of the box thinker in the White House. Not somebody that you're worried is gonna keel over or can't even do, you know, an interview with George Stephan Obelis or corrects a CNN reporter. That's not the question you were supposed to be asking me. You were supposed to ask me this question and therefore
Starting point is 00:57:28 this is my answer. I'm like, let me ask this. I'm like, the United States president really just correct a CNN reporter because his press conferences are staged events. Let me ask you this. When, remember when Hillary was going against Sanders? Remember Hillary Sanders? I'm talking 2015, right? Hillary Sanders are going back and forth Do you really think at the end? Sanders when he asked his people to support Hillary. Do you think they did like do you think they actually want to support it Hillary? Do you think they did Georgia voted for Republican senators? Or do you think that they listened to Trump who said, if you don't give me those 11,983 votes, I'm going to tell my people to vote negative. On tape, that's a quote.
Starting point is 00:58:22 Yeah, so again, this is where I'm going with this, though. My question is, so go there and the Sanctus is the lead, okay? Do you see Trump going out there to ask in Maga to support the Sanctus? I don't know if I see that, but I do know that he understands numbers. Oh, no, I get he understands, of course he understands, he wouldn't be a billionaire if he didn't understand numbers. Well, I think it's questionable that he's a billionaire, but that's a different discussion for a different day. Listen, let's just say he understood. Of course he under he wouldn't be a billionaire if he didn't understand numbers. Here's one. I think it's questionable that he's a billionaire, but that's a different discussion for a different
Starting point is 00:58:47 day. Listen, let's just say he is or he's not. You fly a 757, was 767 for 30 years. He lives. The gas is 12 grand, a freaking hour. I mean, that argument has been done with. So he's rich. He's rich.
Starting point is 00:58:59 We're not going to argue in rich part. Yeah. So, but going back to that, do you foresee him getting up there and saying, hey, so well, but going back to going back to that Do you foresee him getting up there and saying hey, you know? Look, I concede it. I talk to a de Santos. He's the right candidate and I'm asking maga We got to help this man get elected because it's about taking Biden out. Do you think Trump does that? He's sincere Remember he was caught on tape saying if you give me if you break the law and fraudulently give me votes in Georgia I will make sure that my people elect those two senators and Mitch McConnell will not lose the majority position
Starting point is 00:59:33 Are you saying he won't do that? I'm saying if he's sincere about it his people will follow him. That's not the question No, no, no, no, Donald Trump. If he's giving two shits about Rhonda Santas think about it Rhonda Santas will not have the and that i don't have the answer to shit about ronda sanders other than the fact that ronda sanders become a superstarsons florida has become the new haven of america than texas because you can't understand this was a new body on the show so he didn't like he's a mini trump and he's shut up but that's my point he shot up to start him
Starting point is 01:00:03 it could be two shits about to Santa's unless... It was his VP. Let me give a different analogy. Let me give a different analogy. Okay, so Magic Johnson is the face of the league. Michael Jordan shows up. Magic's got five championships. Michael's got zero.
Starting point is 01:00:18 1992 dream team. Michael's got one. Magic's got five. Magic Larry tells Magic after he kicks the rest, he says what, let's no longer our league, magic's got five. Magic Larry tells Mike, magic after he kicks their ass, he says, what, that's no longer our league, that's his league. Okay, I felt like I saw Jesus playing basketball. And magic conceits and says, it's Michael's league, right? Michael plays, he's crushing everybody.
Starting point is 01:00:37 Kobe shows up. Michael says, I respect this guy, Kobe wins 3 championships, right? Michael says, it's not Kobe's league, right? Kobe, then LeBron, okay? Meaning, it's not easy to give it to the next guy. Michael's not a hard time giving it to LeBron, he gives him credit, but he doesn't say this guy, do you think Trump's a guy that's gonna do that?
Starting point is 01:00:56 So here's the other part I go, here's the other part I go with this. Okay, you're not thinking he does that. I don't think he does. Okay, so then let me ask the follow-up question to him. Wait, wait, wait, wait. You're describing in one word. I would hope he does, but I don't think he does that. I don't think it is. Okay, so then let me ask the follow-up question to it. Wait, wait, wait. Well, you're describing in one word, or it's... I would hope he does, but I don't think he does. What you're asking us in one word is does Trump have it in him to be humble?
Starting point is 01:01:13 Or have humility. Have humility. No, no. You're describing humility. That's what you're describing. Because you're talking about these great legends of basketball who said, with all humility, I hand over. I don't think anybody in the States might go on that humility. The difference is physical limitations start to wane when you're in your mid 30s, right? So Jordan had just beaten magic.
Starting point is 01:01:36 Jordan had just retired and now he's back with the wizard. Physically, they couldn't keep up. Trump could keep up. He could keep up physically. He can get up there and talk for hours. So let me ask the other question. Let me ask the other question for you. So here's the other question for you.
Starting point is 01:01:49 You know how sometimes you can, you know, you think you need like, for example, somebody said, well Patrick, why'd you say that to Arnold? You know that's the interview you wanna do. It's not, if Arnold wants to come on great, if he doesn't, he doesn't. Freedom is way important to me
Starting point is 01:02:03 than me interviewing Arnold. It's not like, oh my gosh, he's never going to interview. I'm totally okay with that. I support freedom. You said screw your freedom. I support freedom. That's right, right? Okay. Do you think the Santis needs Maga to win? Yes. Okay, so now that's a second problem. Yes. So, I don't disagree with you. Okay. So I think he does, but here's the other part. Take Manga. Okay. In Manga's mind, who do you think is going to win in 2024? I think Manga has, I'm not even being facetious, has pledged their loyalty to Donald J. Trump.
Starting point is 01:02:35 Fair. That's fine. I don't, I don't dispute that. They think 2020, he won, right? And now they still think he won. Exactly. So, so this is not like we're not convincing each other. So 2020, there's certain Trump's going to run and Trump's going to win is what they think. They still think you want exactly so so I'm this is not like we're not convincing each other so 2020 The there's certain trumps gonna run and Trump's gonna win is what they think I would and Magga would prefer to have Trump over the Sanctus it's not even close but here's my question and this the part where I I see slightly different than than you do and this is where I see Slightly than different than you do I think is there a dramatic difference between Sanders and Hillary? Yeah dramatic different than you do. I think is there a dramatic difference between Sanders and Hillary? Yeah. Dramatic. Yes or no?
Starting point is 01:03:07 Pretty dramatic. Is there a dramatic difference between Sanders and Biden? Well, Sanders and anyone is dramatic. Yeah. Very, very, very, very, very. Dramatic, right? Okay. Is there a dramatic difference between a McCain and a who did hooded mccain what who did mccain take out mccain took out who i thought is it ramey jabush at the time of the okay is there dramatic difference between mccain and jabbush no no okay is there dramatic difference between
Starting point is 01:03:34 uh... ramey and jabbush very very subtle but basically now is there is there a dramatic difference in policies between the santa's and trump not dramatic that's why i think mago will support i think mago will support i think mago will support if you be if what
Starting point is 01:03:55 no i think magas if the santa's becomes the nominee i think mago is in the picture the santa's is not going to be the nominee if republicans if the s seventy eight million people who voted Republican, how dare you humbly disagree with how many? The billionaires too.
Starting point is 01:04:11 Let me ask you a question. Let me ask you a question. Let me ask you a question. Do you think private equity and hedge fund people give you money before having a meeting with you? More often times know no no no You're not think the meetings already been had with the Santas that nobody knows because you know what question they're asking Do you do you nothing those guys with the money you you think they sit there and you know
Starting point is 01:04:39 We got something on vitamin investment groups somebody last time in Ireland the house like midnight one guy sends a money They want money from us. He says, hey, my idea is I'm running a mortgage company. I want $200,000 to help me in my business. Here's my routing number account number. Please send me to $200,000. And yeah, yeah, of course, send them no money right now. It's in the mail, but the 40, it was the Twitter
Starting point is 01:04:57 business plan, 104 characters. Do you think money people just sit there and say, the Santa's, they didn't say, they didn't differentiate whether he's running for governor or for president though no no he's definitely running for governor no I'm sorry no it's Trump against the Santa's money okay Trump against that that was a compare blue and black money black the Santa's blue they're not saying this without having had the conversation so the conversation go have with the Santa's no one how the
Starting point is 01:05:22 Santa's do you think he said he's running 2024? Do you think he can guarantee it anything? I think I agree with you. But do you think the Santas knows how to speak sign language? Like, you know what I'm saying? Or do you think the Santas knows how to say, like the, the, the, the, the, the, you know, what do you say when he says,
Starting point is 01:05:38 hey, the season's over, Peyton, are you gonna be retiring? What's this famous speech? Well, you know, I'm gonna go spend some time with the family and figure out what we're gonna do. And then probably within the next few weeks after the dust is settled, we're probably gonna make a decision
Starting point is 01:05:51 and see what we're gonna do with retirement, right? That whole bullshit speech that everybody is memorized, you and I can do it, we don't even play in the NFL, right? So they had the Sanctus, the Sanctus, are you running for office? Is it gonna say, well, I'm very happy right now, being a governor of Florida, we're doing a great job we still have a lot of work to do
Starting point is 01:06:07 i'm here to see the people that are out there that's our happy with what we're doing we still got some right is a great script yeah he and he knows but he says but if america needs me i would certainly consider you know i'm saying like that's so to me money guys are sitting there saying yep and i think maga
Starting point is 01:06:23 would love because did listen 40 years from now you're gonna be 80 okay I'll be running against Chuck Russell it's like the Kevin Hart when he sat against that. What's the actor? He says, I'm 56 years old. Damn, you know, he's a little don't you? He's a little don't you? He's right. He says, damn, but 40 years from now, you're 80. Okay. Well, here's what's gonna happen.
Starting point is 01:06:55 He's still in shock. Do you not, do you not think we're gonna sit there and your kids, 20 year olds are gonna ask questions. They're gonna say, man, how was this Trump guy? And you're gonna have a hundred stories per one story for Biden. Because what we're experiencing right now is gonna be written about a thousand years from now.
Starting point is 01:07:16 Appreciate the fact that we had a president, Donald J. Trump, because there's never been a person who will entertain that. I don't know why you need to say appreciate. You have to, though. That's like saying, I really like crusty the clown from other Simpson. He's got crazy stories.
Starting point is 01:07:29 Big different. But it doesn't like, I want him to be my president. There's a big difference between crusty the clown and a guy that made it in business. He won in TV, women, party, you know, a shadow of his father. He won the reality stuff. Kids are winning.
Starting point is 01:07:44 His kids are doing good and there are he is one at the highest level no matter how much shit everybody talks i'm not here supporting a guy i'm supporting the man that has one even though he had so much criticism against him for forty-fifth years and back in the eighties he told opera if american is i would run and i would win because i'm a winner anyone you read that obama said you're never going to be a president and he proved him wrong at a a dinner, $100,000 dinner table there and Obama talked shit about him. But he's not a glue guy, but.
Starting point is 01:08:09 I didn't say he's a glue guy. What I'm telling you is you're gonna appreciate the fact that you watched the last four or five years. This you will talk about. Whether you like him or not, it's gonna happen, right? It's like talking about Churchill when he was hated, but fast-forward how many years later, everybody's writing about the guy
Starting point is 01:08:23 and how many books I've been written about this guy and how many books have been written about this guy this is where i'm going with this do you think he can be the nominee trump if the santa sent him run can trumpie the nominee can republican now with the republicans get behind trump what of course you can do you think republicans can get get behind trump
Starting point is 01:08:42 no i think the moderate middle i think that moderate ten percent of the lost what where are you at yeah i i i i have to agree kai what do you think i'm from your sample as a twenty two year old going on seventy five what what do you think about this eighty eight i'm sorry time flies time flies uh... no i think that with even for dissent is even without trump's official like
Starting point is 01:09:03 endorsement that he could pull away a large chunk of the maggot crowd just because of his policies, and his personality is less kind of on the extreme at end. So I think there's a large part of people, even possibly like people like Adam, where they're disgust for him. They won't vote just because of that, but based off of policies,
Starting point is 01:09:22 they're more willing to like lean that way. So I think he could even draw more votes from the left won't vote just because of that but based off of policies they're more willing to like lean that way so i think he could even draw more votes from the left as well in terms of his reasonable is already said the centrist roncy would vote for yeah i would vote for the centrist overbiting i would vote
Starting point is 01:09:38 i wouldn't vote for donald trump again we've already seen what he's done for the four years he doesn't bring the country the kronk so i'm not even saying that i'm not crush and so off. I'm not even saying Biden is that good? I'm not even saying it's not a binary option. It is a binary option at that point. No, it's not a bar.
Starting point is 01:09:53 And you could do a Joe Rogan and vote for Joe Jorgensen and waste your vote. But the point is, the point is, Danielle hit the nail on the head. We need somebody young, vibrant, who can get this freaking country together. That's. That's not the that's not the talk. But that is. No, it's not. No, it's not. That's the point. You said that black. No, no, no,
Starting point is 01:10:15 on this and black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black. Black I asked the question for you sweetheart. I said, if, if, if, I said, if can Trump win as a nominee? You said a horse. Can you win the Republican, the camp, yes, yes. Then I said, if your choice is Republican Biden, you said what, you're still gonna go Biden?
Starting point is 01:10:37 If what? If it's Trump and Biden, you're gonna go Biden. I don't want Trump again. Okay, I just don't want. Oh, sorry, so, so. Let's move on. Let's get at the center. Let's get out. Marco Rubio and I'm here
Starting point is 01:10:47 in the question here. Let me ask the question one more time. I have the same answer. I don't want Trump around. So, who would you vote for, Biden again? Joe Jorgensen. So, you wouldn't vote for you. I don't want Trump.
Starting point is 01:10:56 And either just 60% of the country. Your answer is a good answer. Yes. So, you're saying you're not gonna do Biden or Trump, you're gonna go somebody else. Yes. Okay, fine. That's fine. That's not a problem. So, for you what you're saying is my not going to do Biden or Trump, you're going to go somebody else. Yes. Okay, fine. That's fine. That's not a problem.
Starting point is 01:11:05 So for you, what you're saying is my vote's not going to count. I don't give a shit, my vote counts. I'll be relevant. Yeah. And I'm just going to go without Biden or without Trump. You talked about this with Rogan. We're like, you know, you were kind of being facetious. You're like, you know, Rogan, they're one of the greatest presidents ever.
Starting point is 01:11:20 He got 80 million votes, and he even said, look, they were not voting for Biden. They were voting against trump and that's a problem for trump and it's someone like a descent i am i am someone like a descendant would get you about i'm logical enough to know yeah i'm logical enough to know where you can set aside the emotions and know
Starting point is 01:11:41 if there is no code anybody that was president take any president the last 45 of them. Come in. Give them COVID, do they get reelected? Give them COVID. Any president we've ever had, give them COVID, do they get reelected? Likely not.
Starting point is 01:11:55 Okay then, this is not a Trump thing. Now, let me ask you this, take COVID out, does Trump get reelected? Likely yes. Likely yes, so this isn't about the fact that people didn't want Trump. Yeah, that's like saying pretend COVID didn't exist. No, no, no, you're not here.
Starting point is 01:12:08 No, but this is not the point. We're talking logic here. People voted against them because they wanted to see somebody else handle COVID differently. Not because they didn't want Trump. There's these are two different arguments here. It's correct. So these are two different arguments.
Starting point is 01:12:24 I also think they handled COVID poorly. I'm not different arguments. I can't. I can't. They also think I'm handled COVID poorly. I'm not going to put that in the water. I'm not trying to tell you what. I'm going to push back because he was not fiscally conservative. He wasn't. Yeah, but American people, American people
Starting point is 01:12:35 didn't want to take Cruz. You're right. I get it. But what I'm saying is, it wasn't, what I'm saying is for a lot of very conservative people, COVID did not plan to their decision as to whether they did or did not want to reelect trump that's all i'm saying there were other factors at play that's not yet you're
Starting point is 01:12:53 talking to the i mean this is the guy who created operation works your your talk and the standard for the entire world that's an accept yet but he also had the audacity to go against the number one enemy while all the president's last twenty years having shitting bricks going up against China and they allowed them to get stronger So this is not a Republican Democratic think I'm sorry. We're sitting here right now and China's you know Pushing everybody around you know, they're charging the $16,000 per container. That was $2,000 a year ago That's coming here from Shanghai and FedEx 40 it was
Starting point is 01:13:23 2000 last year 40,000 it was 2000 last year. 40,000. It was too last year now, it's 40. So FedEx, you know Nike, all of these guys are coming I've seen, we have to raise prices. Yeah, you think that's gonna happen under Trump when he faced off against him? You think Trump would say, charge 40,000 against you what I do to you.
Starting point is 01:13:38 What is Biden? Don't Biden say, nah, keep it up 40, keep it up 16. I'm sorry. So if our number one enemy is China and the president is not willing to go up against them No, no, no, so I'm not sitting here This is not a throwing a Trump under the bus situation here This is disagreeing with you on China at all. Yeah, this is you're gonna be shocked to Trump's credit Biden has upheld everything Trump has been doing with China. He's basically saying you were handling it right every
Starting point is 01:14:04 Okay, are you serious about the comment you just made? You're serious about the comment you just made. What's going on with the border right now? What's going on with the border right now? I said China. No, no, China's one, no, no, no, stop, stop, stop, stop. Let me ask you this question here.
Starting point is 01:14:18 2000 a year and a half ago, container, 16,000, she says 40, I'm gonna stick to 16,000. That's eight times. Hang on, no, hang on a second, second bro what do you think that's one thing sixteen thousand go to a rolex shop they have one rolex for sale how come we don't have rolexes
Starting point is 01:14:33 they make in them go to go to go to cars right now much prices are up right now go what's going on with cars today try finding chip shortages what the hell is going on with chip shortages what is going on with chip shortage why because we're reliant you think that you're just under shortages what the hell is going on with chip shortages what is going on with chip shortage is why because you think that you think that you have to understand the last six months relying on a country called china he would put his foot down by the
Starting point is 01:14:52 is not putting his foot down with china was by done differently on china what is he done differently i'm just told you to sixteen thousand the chip shortage pad was been going on for two years now trump would have done something about that what you have the opportunity to and he said something to the fact that trump was focusing on soybeans rather than semi-conductors did you not ice ice i i said exactly that and right now but but to patrick's point
Starting point is 01:15:18 by the is not incrementally doing this while china is conducting economic warfare against the United States. So for me, for me, here's where I'm going with this, to say American people didn't want Trump because they didn't want Trump as a bunch of crocush***, okay? 52% wanted this guy, okay? So no, he won and he bit Hillary and read was like the president when he sang in sixteen pro what are you talking about people wanted this guy and everything everything he said he did
Starting point is 01:15:52 everything he did he did he said he did everything taxes went lower economy went higher unemployment blacks Hispanics let you know when everything would but every car went our debt and up seven trillion i ciss went lower not seven trillion it went up because of his last 12 months. You keep saying some like that. But how much did it go up under Trump? It was the last 12 months under COVID when he did stimulus.
Starting point is 01:16:12 Yes, it did go up because they had no choice at that time. There was only a couple trillion at that point. No. Give me some numbers, Daniel. No, I still, and again, this is where I push back. You only get to train Americans to not want to work one time and that six hundred dollars extra a week i understand that we were in the middle of a crisis but it didn't have to be six hundred first of all then you
Starting point is 01:16:33 first of all are you kidding me with these comments you guys are making you guys are smarter than me here both of you guys now are you kidding me with these comments you guys are making what you let me let me push back a little bit right let me push back a little bit what it's talking about we're talking about somebody signing socialism in the Life in the United States. What was his choice though? Tell me what he does He could have said what he does What you think what does he do when California tells people you can't go to work?
Starting point is 01:16:54 What are we to do if I'm sitting in California? It's new. Some is a the blood all these guys are saying you can't do shit. What does he do? I know you know you're says But two months, two months, I need more hospital best the guy brings a freaking ship everything we went through he was doing this is a black swan so you can put a black swan on a guy that we've never experienced a black talking about that i'm saying prior to that nobody paid workers too much to not work on zero disappointment that would be a republican
Starting point is 01:17:22 i don't agree with you republican would have pushed back and said, that's excessive. That is a Bernie Sanders level of stimulus that we're injecting into the economy. It's excessive. You cannot do that. Yes, you cannot do that. Let me explain to why you cannot do that.
Starting point is 01:17:36 Now people don't want to go back to work. All they need is that time. Let me ask you question Daniel. Daniel, Daniel, what comes first? What comes first? The entrepreneur or what comes first What comes first the entrepreneur or the employee what comes first? Okay, so let me ask you this what came first the stimulus or The protesting or COVID or the division what came first? What came first? COVID came first. Okay, then what do you want me to do? Division and then what do you want the guy do? Devision that code. What do you want the guy to do?
Starting point is 01:18:05 And then to top everything off, since you're speaking, since you're bringing up the subject of entrepreneurs, the CARES Act slaughtered small businesses in America, slaughtered them. When? The CARES Act. When? May of 20. The 40% of small businesses that are no longer with us by the way because it was really bad legislation was signed into law the alternative he does the all what's the alternative the alternative would have been something small on a smaller scale okay okay who's gonna vote for that say he does the alternative that what happened he's he's the executive he's
Starting point is 01:18:39 got veto power and what happens then he says he says to the democrats and the republicans go legislate something that's not how this works don't have not how this works for freaking three years they said it was russia for three years they said it was russia and it was a russia but what no what no no but let me tell you what i'm going with this here's what i'm going with this if he did that no matter what this guy does do you know how much it must suck to know that if you decide A or B, no matter what you decide, they're gonna shit on you. And they did. Again, no matter what
Starting point is 01:19:09 this guy decides. We're sitting here saying that three and a half trillion dollars is excessive to do that. I'm on camera on podcasts saying I don't support free money when Andrew Yang was running talking UBI. I went on the the hill they went after me for me not supporting andriang's ubi i don't support any of that i'm not sitting here supporting any that i don't i don't i don't i'm not the one who signed it into law i'm not the one who signed paying americans for an additional twenty five hundred dollars a month excessive give me forty five president forty four
Starting point is 01:19:40 presidents before him if they were in the same situation as covid as yet do they get reelected paying people yes they could have again but you're you're asking the question about because it's really concerned the republicans because the issue was not one of them the it dot not popular not of them there's only one area where i'm going to go where i'm going to be on your side here's only one area where i'm going to go
Starting point is 01:20:02 here's what you own only said i'm going to go uh gonna go where I'm gonna be on that side. He created unnecessary enemies. He created unnecessary enemies. I don't know a president of my lifetime that created unnecessary enemies. Sun Su says when the enemy is asleep don't wake his ass up. What the hell are you doing waking people up? What is the matter with you? And he did that for four years. Why are you waking unnecessary enemies up? He did that. That's why he didn't get reelected. He didn't get reelected because his policies weren't effective. He got reelected because he saying you're a moron, you're an idiot, you're a this. You don't convert people calling them morons for four years to his defense to his defense
Starting point is 01:20:45 what channel supported what newspaper supported what magazine supported who supported what means to who supported this guy nothing was it was game game game game game and the moment they realize a rush it was a dossier from a hillary everybody was saying oh no no don't even talk about it
Starting point is 01:21:02 it's like right now when obama comes out in obama says uh... just two days ago obama two days ago comes out and says what obama says what the board what pages that on by the way page nine obama comes out and he says uh... where is it on page nine okay obama two days ago comes out and says the following uh... he says open borders unsustainable for the United States, okay? We have borders, Obama said.
Starting point is 01:21:28 The idea that we can just have open borders is something that as a practical manner is unsustainable, as big-hearted as he is, nobody understands that better than Joe Biden. And the question is now, are we gonna get serious about dealing with this problem in a systemic way as opposed to these one-offs, where we're constantly reacting to emergencies.
Starting point is 01:21:44 Of the 15,000 mostly Asian immigrants who gathered in a makeshift camp under the board bright board bridge in del Rio Texas thousands were allowed into united states under bite and administration they don't give their vaccinated and on top of that you know what the chief doctor said they said twenty percent of them are bringing some kind of a disease with them here twenty percent of them are bringing some kind of a disease to America with them look twenty percent of the board of the public and so the borders of disaster is an unmitigated disaster so so they've got come all a hair locked up in a basement
Starting point is 01:22:11 we have to do it's a debate on by the way here's a aoc if aoc loves America so much in four years ago five years ago she was at the border crying three years ago what was going on where is she at the border i'm sorry i haven't seen those pictures yet the whole bed stuff where is that it so do we have border issue two years ago do we have border issue two years ago? Do we have border issues two years ago? Were you complaining about border issues two years ago? Were we kind of getting it better? Was was ice and those guys cleaning up a place of the people that live on the board of fuel safer? Did they feel a little safer as a resident of the state of Texas? Yes, we did of course you did
Starting point is 01:22:39 This is what I'm trying to so the part that people there's there's a couple things here I'm not disagreeing with you on this at all. Yeah, so the part that people, there's a couple of things here. I'm not disagreeing with you on this at all. Yeah, so the part that, for me, if I see this with Trump coming this way, he doesn't have my boat, he doesn't, and this is what it is. Let me explain to what I mean. Do you remember the first debate that he had with Biden?
Starting point is 01:22:59 Yeah, yeah, had COVID. He was a mess. No, I get that, but how was it? Just come back to his- It was very contentious. It was a good look. Okay, do you remember the second one? Second debate was better.
Starting point is 01:23:07 He just, Biden's calling him out, just sitting there listening to him, and then he would respond back. Yeah. And he was like, wow. But he can't do that for two bates in a row. He can do that for two days in a row. And FYI?
Starting point is 01:23:17 FYI. FYI. If he doesn't learn from him losing, and he goes that way, he ain't getting real lucky. Pat, seriously, and I know that we're fired up or having a great time. Do you actually think Trump is changing even a little bit? You think he's taking this loss and being like,
Starting point is 01:23:33 you know what guys, I probably should have been a little bit nicer and maybe the name calling I can tone down in the tweets, he's not changing. So you love him for what you, you love him for what he is or you accept the fact that he is what he is, 78 years is not changing but if I have a choice yeah if I have a choice between him and Biden to go up against China it ain't even a question I actually agree with you or no you don't agree with me on China if I have okay you want to play this game do you want to play this game let's continue this game if I had a choice i'm gonna throw a kink into your argument
Starting point is 01:24:06 if germany had to decide tomorrow which country they were going to align themselves with economically would it be china or the united states tomorrow if who germany the probably gonna go china because they export more to them in because they and what's the point though? But who alienated Germany?
Starting point is 01:24:33 Trump thank you, okay, but that if there's an economic cost to making all these enemies So Danielle you're talking we have children So Danielle, you're talking to your children. I mean, we can't let our lives in the world as a child. So let me ask you a question. So what do you do? So what do you do? So you make a tough decision like that.
Starting point is 01:24:52 You're expecting everybody to just support the fact that you go in and book against China. Germany doesn't have an alternative. They don't have a choice. They don't have an alternative. So what does Germany do? What does Germany do? Does Germany sit there and say, oh, you know what? Yeah, you know what? Instead of going to China, let's go to such a... No,
Starting point is 01:25:08 no, they don't have a choice. Because the last 20-some years, two Republican presidents, whatever the thing is, and two Democratic presidents help, not even 20, 25-30 years, they helped China get stronger. Great. and they deserve everything They're getting now because they did that and now to go up against somebody that's a monstrosity You cannot have a normal person to go up against them. I'm sorry You know history when Churchill died one of the most hated guys when this guy died Churchill wasn't loved but when shit hit the fan they made one phone call when chamberlain knew he didn't have the audacity to go up against the guy He had to go and beg the one guy he hated the most
Starting point is 01:25:47 he could be easy on china but i that's not my question that's not my question the question isn't if the choice is the santa's or trump i did not ask that we know if the choices the santa's where you guys are going i got it that's not where i'm going but all i'm saying is that small percentage which is probably not as small as you think it is, that percentage of Trump becoming the nominee and they're going against Biden, and you guys going to sit there and go play another game of, I'm going to go to Joe or somebody else, I'm going to do this. I'm sorry. I just, I don't think Biden or Harris, I think both of their political careers are over. I actually agree agree with you Okay, so I don't see by the running again
Starting point is 01:26:26 There's a reason the GOP gave me a chance to Joe mansion. There's a reason the GOP is giving a Joe mansion. I think by the second debate on the Republican side we're gonna know who Trump is I think by the second debate Pat you honestly think Trump is changing even a little bit one percent one percent I don't know what are the way to put this to you, bro. Listen, if something happens to your family, you want me as your friend. I agree.
Starting point is 01:26:51 You're going to make that phone call. I'm going to use anything and everything in my power to back up your family. Okay. And you want somebody like me to have some... I just, I don't think it's the binary choice that you're making it out to be. It will never be Trump against Biden mark my words
Starting point is 01:27:06 Okay, fine. Who will be on the other side? That's why I'm saying Joe Manchin is oh, that's a different story No, no, I'm not I'm not even know if it'll be a mansion But there are people in the Nimmerton Democratic Party who are ready to take that word different conversation Now we're never gonna say the binaryness of the binary argument, if it came down to Trump versus Biden, it's an irrelevant question. Let me tell you something. I, to the point that you brought up in the beginning of this podcast, we're debating over 78 year old men. Can we get some new fresh blood in there? I'd love to see Ron DeSantis versus a Tulsi Gabbard. Let them have hash it out. 240 something
Starting point is 01:27:44 in a military people, Wall Street people, she's a freaking beast. Why can't we have that debate? Why does it have to be Old Man River Biden versus Crazy Man Trump? Why are those our two fucking options? Because the current system with the way it's set up, these guys need money and backing. And to get people to get behind Tulsi, like I said,
Starting point is 01:28:01 her and I are exchanging messages. We're going back in for it. She had nice words to say, obviously, had nice words to say to her. And what I told in front of Joe is she needs the powerful people to back her up. They know if we put our money behind somebody, they don't put their money behind somebody
Starting point is 01:28:15 without a good chance of this person winning. That's a different conversation to be had. So would you vote for a Tulsi Gabbard rather than a Trump? I would need to know what her tax plan would be. It would be purely on a tax plan. Let's say that you somewhat agreed with her tax plan. You're like, okay, I can get on board with that. I would absolutely consider it.
Starting point is 01:28:35 You would. I would absolutely consider it. But it would be purely on the tax plan. So how many years have we been having these types of conversations? A couple of years. When it comes on to America, what concerns me the most? Tell me what concerns you. China, Texas, would you say China's number one?
Starting point is 01:28:49 On your list, it's definitely in the top two. Okay, would you say... Well, China, should be number one. Yeah. Would you say my concern of us going to socialistic society is a concern of mine? That's in the top two as well. Top two.
Starting point is 01:28:59 What do you think is next after that? Taxes. Taxes, which is part of economy. That's the same thing to me, right? I told you, agree with you. Now, you know, you want to have the debates. The next things that come up is what? Gun regulation background show. I don't think you give two shits about that. I don't think that's out of top of your list. Believe it or not, I have very strong opinions about that. And my strong opinion is, people need to be trained more. Okay. People need to be trained way more. Like, I'm all about
Starting point is 01:29:24 training more. That's my mindset. So here, let me try and top your list. I don't think it's in the top of my head. So you go through the other stuff, right? So. But the top three that you mentioned, they determined the fate of the United States. True.
Starting point is 01:29:35 Those three, those three, and those three alone determined the fate of the United States. You know what my number three probably would be? You know my number three probably would be censorship. Yeah. Number three would probably censorship. You can just come down. You can just come down.
Starting point is 01:29:46 Well, you can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down.
Starting point is 01:29:54 You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down.
Starting point is 01:30:02 You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. You can just come down. for about 30 minutes to us this was not a podcast. For 30 minutes this was not a podcast. This is a conversation. You mean to tell me you want to take this away from the audience? Are you kidding me? So the audience can't hear this kind of discourse and they make a decision for themselves.
Starting point is 01:30:13 Screw Pat, I don't agree with you. Fine, screw you, Danny. I don't agree with you. Hell with Adam, no problem. Make up your mind. You saw this course. You want to take this away from the American people. Well, you brought up a word that's your mind.
Starting point is 01:30:23 No, I mean, and that debates that are soundbikes. That also goes hand in hand with socialism, by the way, is censorship. That censorship is... They walked down the same path. If you look at communist regimes, it's all about keeping information from the people's censorship, which should be a four-letter word. Yeah, so anyways, we're going to see what gonna be happening in the next, but the census. So should insider trading in Congress?
Starting point is 01:30:48 Well, good to know that you'd consider voting for a kind of, pull out that article for Pelosi. So Pelosi is creating a reputation of being a psychic. And she's been called a psychic by young people on TikTok. I still prefer your side. And we can go to that article for Pelosi, if you have it up uh...
Starting point is 01:31:06 here we go policy ads provision to know this is not a body this is not a body i just texted you oh my gosh here we go again you just got the email and this guy don't pull that and see look deniel while we're waiting break this down that's the first citizen 86,000 86,000 dollars debt per citizen 228,000 debt per tax pair Jesus that's why we need somebody young and dynamic to try and take this tackle
Starting point is 01:31:39 this okay so people are calling that a Pelosi a psychic especially young investors and this is why Take talkers are trading stocks by copying what members of Congress do, okay? Well alert Nancy Pelosi just bought 11 million dollars and four stocks The women of investing just spent 300,000 dollars on this stock how to join the exclusive group chat so that they're given a shout out to a Polosie's doing young investors have a new strategylosures, sitting members of Congress for stock tips, among the certain community of individual investors on TikTok, how speaker Nancy Pelosi
Starting point is 01:32:10 stock trading disclosures are a treasure trope. Shout out to Nancy Pelosi, the stock market's biggest whale says user CEO Watchlist, another said, I've come to conclusion that Nancy Pelosi is a psychic while adding that she is the queen of investing. She knew the Clare Chris Joseph's analyzing a particular trade on Pelosi's financial disclosure. And you would have known if you had followed her portfolio last year, Joseph's noticed
Starting point is 01:32:35 that the trades actually made by Pelosi's investor husband and merely disclosed by the speaker were performing well. Joseph is a co-founder of a company called Iris, which shows other people stock trades in the past year and a half. He has been taking advantage of a law called the stock act which requires lawmakers to disclose stock trading in those of their spouses within 45 days. Now on Joseph's social investing platforms, you can use a push notification every time Pelosi stock trading. These closures are released.
Starting point is 01:33:02 He is personally investing when he sees which stocks are picked.'m at a point where if you can you can't beat them join them joseph told mpr adding that if he sees trades on her disc uh... disclosures i typically do buy the next one she does i'm going to buy k a policy spokesperson said that she does not personally on any stock and uh... transactions are made by her husband uh... she has to do that protection
Starting point is 01:33:24 the speaker has no prior knowledge of subsequent involvement any stock and the transactions are made by her husband. She has to do that protection. The speaker has no prior knowledge or subsequent involvement. Any transactions that the spokesperson says Joseph's view trades by federal lawmakers as smart money would work following and plans to take large variety of politicians. We don't want this to be a left or right thing. We really don't care. We just want to make money. Okay. There you have it.
Starting point is 01:33:39 All right, Kai, can you do me a quick favor? But what? I have no knowledge in my husband. Wait, wait, wait, wait, wait. Or whether you say, Kai, can you lapel, Oc. I have no knowledge in my husband. Wait, wait, wait, wait, wait. Or whether you said job on MSNC. Hi, can you pull up, predict it? Fed chair. Predict it is, no, not predict it.
Starting point is 01:33:52 Predict it is a, it's kind of a Vegas website. It gives you, but- Predict IT. Who will, yep, yep, top one. I love this. Oh, as price is, yep, top one. I love this. Oh, as price is up to 75 cents today. His price was at 66%. He was at 66% yesterday.
Starting point is 01:34:12 Do you want to know why? Why? Because they forced Rob Kaplan, who was the president of the Dallas Fed, and they forced Eric Rosengren, who was the president of the Boston Fed to step down because they found out about the insider trading. But they didn't force them to discourage. They...
Starting point is 01:34:31 Well, do you think that's coming with hearings? They announced, they announced that they were going to be selling stock very soon and getting rid of the position, that made it even worse. But all I'm saying is... So you're saying you actually... On September... Kind of. On Septemberth, Jerome Powell's chances of being in the next Fed share were 92%.
Starting point is 01:34:50 The reason they've declined is that there is a fear that because of this insider trading scandal at the Federal Reserve, that he's not going to be confirmed. This shines a bright light on the fact that the SEC and somebody needs to change the law to make it, if it's not okay for federal reserve officials to to basically insider trade why is it okay for Nancy Pelosi to be the queen of insider trading there's a
Starting point is 01:35:14 law against that it's called the the securities and exchange commission the SEC insider trading is against the law why should Congress have a different set of rules well they're special people Daniel i mean why are you complaining about that these people are okay to make that kind of money because we want our politicians to be rich and if this is one day one way they do it what's wrong with that right you speak sarcasm then
Starting point is 01:35:39 i do i do you know i just look at all those five people all those five names go back at it go back at the five names you know the next five names that they're talking about they're all Democrats any reason why Elizabeth Warren wants Lail Brainer to be the next Fed chair because Lail Brainerd will facilitate Modern monetary theory universal basic income. She will paint the glide path I just looked it up for your worst nightmare Negative interest rates and giving money directly to the United States people through accounts at the Federal Reserve putting
Starting point is 01:36:10 the conventional banking system in the United States of America out of business. That's why Elizabeth Warren is pounding the table on Lail Brainerd and saying if the head of the Dallas Fed and the head of the Boston Fed were forced to resign damn it Jerome Powell should be as well. That's why Elizabeth Warren is saying it because she wants Lail Brainerd to put socialism in the law in America. Warren praises Brainerd, slams Powell. This is just recently. She called a few days ago.
Starting point is 01:36:37 She said that Powell was a dangerous man. A dangerous man. Does he look dangerous to you? A dangerous man. He looks wealthy. He is wealthy, but he was wealthy before he was worth a hundred million dollars before he started at the Fed. He served, he only did this to serve his country, not because he needed a pension
Starting point is 01:36:54 afterwards. But, Lail Brainer, that's a different story. Yeah, you see the Wall Street Journal, Elizabeth Warren says she will vote against second term for Fed's Jerome Powell. It's a Warren P it's going to happen, it's going to be a war in power, they're going to be congressional. So she's not fond of this guy. And she's willing to vote against him. So we're going to vote against him. We're going to vote against him.
Starting point is 01:37:11 Got it. And by the way, while you're at it, you almost pulled up something that was brilliant, Kai. Pull up, Lail Brainerd, husband. Just do it. Just do it. I mean, you want to talk about a DC power couple? Ever heard of Kurt Campbell?
Starting point is 01:37:25 One of Biden's biggest Chinese advisors? That's Mr. Brainerd. Thank you. That's her husband. That guy's Chinese. No, he has been, he's one of Biden's advisors. On Chinese. On Chinese.
Starting point is 01:37:40 Daniel, what grade? In the Biden administration. What grade would you give Jerome Powell? This is nasty DC politicking. What grade would you give Jerome Powell? This is a nasty DC politicking. What grade would you give Jerome Powell for his tenure as chairman of the Fed? Probably a C minus or a D. Okay, and when Janet Yellen was there,
Starting point is 01:37:57 it's about where I was at, he's no okay. Janet Yellen, an F. She's F. Who's the last person you'd give a decent grade to? Paul Volker. When was he? He was right before Ellen Greenspan came in and started basically that was the 90s. Back stopping investors. 90s? He's the one who tackles inflation. So you're saying we haven't we haven't had a passing grade decent Nope. Chairperson of the Fed. But I'm not that I mean, but you could stop anybody in my world
Starting point is 01:38:23 and they would say the exact same thing who was a last good Fed share their grease band Bernanke none of these guys. It is unanimous and and everybody will tell you Paul vulgar Who was the who was the best recent Fed share? I don't think there has been one You so you didn't like Paul vulgar? Well, vulgar Oh, bitch doctors jumped the hammer on Danielle right there You're right, but. Sorry, because I'm sorry.
Starting point is 01:38:47 He didn't give a shit about Wall Street and he broke the back of inflation. And he had the balls to do it. And he stood up to, he stood up to his own board. There was mutiny, mutiny on his Federal Reserve Board where they tried to oust him. And he broke the back of inflation when the country needed it. He had the balls to do it. What's your rebuttal, BizDoc? Let her know. No, I think she's correct on that. But, you know, our federal reserve board, I've got
Starting point is 01:39:15 deeper thoughts about it that align with her. No. This is the most corrupt institution. Are you guys okay if we talk about China a little bit? If that's okay with you, I know we haven't spoken a lot about them. Hey, are you guys okay if we talk about China a little bit? If that's okay with you know, we haven't spoken a lot about them So let's talk about the evergrande crisis reflects greater rod and China's real estate sector page seven China's housing bubble puts all other housing bubbles to shame. This is a morning brew story The business world has been captivated by the slow moving train wreck that is evergrande a massive Chinese Real estate developer that's buried up in the pen houses and that
Starting point is 01:39:44 Investors have feared that because of evergrande, a massive Chinese river has been developed that's buried up in the pen houses and debt. Investors have feared that because of Evergrande's size and inter-connectedness with other companies that's impending collapse could do its best COVID impression and spread contagion across markets. Evergrande was able to make an interest payment on a domestic bond yesterday, but the bigger question is whether it will be able to settle the $83.5 million dollar bill due today. If it can pay up in 30 days, it could default, which might cascade across the global economy. There's enough empty property
Starting point is 01:40:10 in China to buy more than 90 million people, more than 90 to house more than 90 million people, according to the Rodeum Group Logan Wright, the entire population of France, Germany, Italy, and UK or Canada could easily fit into these empty apartments. That's insane. Some of Brubbs' observers have compared Evergrande's woes to the epic collapse of the investment bank, Lehman Brothers, during the 2008 financial crisis. But the experts say it isn't a Lehman Brothers moment. It could be worse. If you view China's gargantuan real estate sector as rotten to the core.
Starting point is 01:40:40 So Danielle, what is really going on here? What is really... This is a tempest in a teapot. Contagion is not something that you can even write an article about. If you're able to publish it on the web, then it's not going to happen. Because contagion happens like that. It is lightning fast. If this had been a leement moment, we would have seen risk spread all across the financial system, all across the world. China's got a big problem on its hands. And that's that China does not want to be an industrial led economy anymore.
Starting point is 01:41:10 It does not want to be the country of factories and only the country of factories. It wants for its citizens to act more American and consume more and buy more. But they overfed, they gave too much leverage, they gave too much credit to the real estate sector. So now your average Chinese household cannot afford to consume anything because housing prices are so damn expensive. So this is China trying to defuse a bomb internally. If they want it to bail out Evergrande tomorrow, they could.
Starting point is 01:41:44 And that's the bottom line there's a reason that the chinese that chinese officials are not bailing out ever grand they want this to happen they want leverage to come out of the system and they want for their consume consumers what do they do last night last night the international olympic committee said we're not letting in foreign spectators but but unlike Tokyo, we're going to let Chinese citizens come to all these Olympic spectator events.
Starting point is 01:42:07 They want Chinese consumers to be more American. That's very interesting. And that's why they're doing this. And that's why it's so controlled and that's why we haven't seen contagion. That's why our stock market remains near all time highs. That's why our high yield bond market has not, this ever-grant is not bled into it. It's because China wants to be better at being American than America. Tom, what do you think?
Starting point is 01:42:30 I say this a little bit differently. I respect what you're saying, but I think China has already signaled to people because this, you know, I drew this really, really fast. Anytime you have something with a B like this in real estate, you have interconnected debt sources and interconnected leverage sources. And they're all over here and there's London and there's New York and this, it's all interconnected. And so you always end up with these things that look like an atom of plutonium and it kind of is. And I believe there will be financial losses. Yeah, I believe that China has signaled that it is going to kind of that's crazy. They eat some of this. I
Starting point is 01:43:12 believe China has signaled that they are going to eat and they're going to fix some of this. I also believe that there's these other political things about the westernization of Chinese people. But look, our banks would already be freaking out right now because of the interconnectedness of $83 billion in debt. You know, there would already be certain freakouts. The last man standing, whether it was Goldman or whether it was the same movie, this is real. Yes, this is them demolishing buildings
Starting point is 01:43:43 that were started on but weren't never finished because buildings corrode from the inside out so they actually cost that they become as a source of expense wow yep i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i think i go way too far and i think they've already signaled to the western banks look there's a three that matter golden swiss and doich so i think you think golden swiss and doich are absolutely unexposed to this eighty three billion dollars no somewhere derivative leader interconnectedly they are and i think china has signaled hey we're gonna we're gonna fix this we're gonna to down some buildings we're gonna do few few things,
Starting point is 01:44:25 but don't worry about it, it's not coming your way. They have to say that. You wanna know why? Because they want all those banks business. They want all the... Correct. They wanna keep doing business with those banks. So I think it's a huge problem, I think it's gotta take a huge injection and to fix it,
Starting point is 01:44:43 but I think they've already signaled to the Western banks. Look, I'm not going to let, I'm not going to let. This column already knows that the footprint of China's ruleist-based sector has become so large with an, with an impact of ruleist-based production and property services that on GDP of 29%. That's absorbing, that absorbing a significant housing slowdown would significantly impact overall growth,
Starting point is 01:45:01 even absent a financial crisis. How concerned do you think she is about this? Well, I think... Do you think he really cares? Do you think he's like? Oh, he needs to care. He really needs to care. Yes. Well, less eye-digress, we forget that in 2019,
Starting point is 01:45:15 Chinese economic growth, Chinese GDP was at a 30-year low prior to the pandemic. You see, he can't fake that, and he also can't fake the thing with the banks. But what will he say publicly and what face will he show? Different things. Yes, but he's under political pressure
Starting point is 01:45:30 inside of his own party right now, which most people do not understand. How does this ever-gronday real estate debacle mess affect the average American day to day? So far, it does not again. Our stock market remains here in all time high. Are the tentacles of this so long that it could have a question at them. It's yeah, I just I mean I never heard of ever ground I mean the way it's it's exactly it's exactly it's exactly it's exactly it's how much
Starting point is 01:45:58 it's it's contained in how much bank earnings are going to be impacted by the losses that they have to write off and how much bank earnings are going to be impacted by the losses that they have to write off. Okay, well, I mean, obviously in 2008, the people, you know, what was it, Nina? People can just buy houses, left and right, no credit score, no income, nothing. Ninja, all that fun stuff. I never heard of Evergrande.
Starting point is 01:46:17 I doubt, my mirror listeners have ever heard of Evergrande before last month. Is this something that has the scope of another financial mortgage meltdown or this is not something that Americans should be too concerned about? I think that if it was going to have effected the US financial markets, it would have already happened. Okay.
Starting point is 01:46:37 Well, now let's go to the Apple store. So we could sleep well at night. Here's the Apple store. No, no, no, China's still a bad country. I mean, anyways. By the way, can you imagine if Apple threatens to ban Facebook and Instagram, and they actually did it, but that's a story from the Sun.
Starting point is 01:46:50 Facebook and Instagram threatened a little ban from iPhone after Secret Slave market uncovered on apps. Apple threatened to ban Facebook from the iPhone after an investigation found that it's Apple used for human trafficking. The fracas began in 2019 after the BBC reported that human traffickers in the Middle East were using Facebook apps to arrange sales of victims. Hashtag used by the users of the cyber-abian Kuwait featured adverts of the illegal buying
Starting point is 01:47:15 and selling of domestic slaves against their will. Women were sold for a few thousand dollars each categorized by race and deprived of their basic human rights. They were unable to leave in response to the investigation Apple told Facebook that it would ban its products unless action was taken. This is not a small ban by the way. Can you imagine Facebook and Instagram
Starting point is 01:47:32 were no longer on Apple? That's a big hit if that were to take place. A church, go back exactly two months and what was Apple upset about? They were getting hit, right? Hey, your devices were listening to us. Hey, you're not doing this. Remember They were getting hit, right? Hey, your devices are listening to us. Hey, you're not doing this. Remember, Apple was getting hit.
Starting point is 01:47:49 Now, Apple was getting hit. And who was coming after Apple, right? The first people that come after privacy on Apple is not the conservatives, it's the liberals. Those are the first people that come running down the street. I think that both parties think that there is a serious issue in Silicon Valley. I think most Americans think that.
Starting point is 01:48:08 Apples taken it in the chops two months ago, big in the chops about the listening, the camera that turns on by itself, which isn't really turning on by itself, it's way designed, et cetera, et cetera. Now you've got, I believe, Apple is doing the right thing, and that by the way, I also have a problem with their own employees. Remember, their own employees were talking about salaries, they were talking about a whole bunch of stuff, they were talking about working conditions and factories.
Starting point is 01:48:33 So two months ago, Tim is like, okay, what do I got to do here? Well, I have to take an altruistic stance number one, and I also need to take a stance and lock step with the US government, specifically the Department of Commerce and the Foreigners that are running it. So I think that's what Apple did. I think Apple is taking a stance that's altruistic. They're trying to align themselves with the US government.
Starting point is 01:48:56 The US government is still got the scope down their throat looking at what's going on. And I think Apple had to move this direction. Who needs to, by the way, this is a great example of who needs to, does Apple need Facebook or Facebook need Apple? Good question. That's very... Facebook needs Apple.
Starting point is 01:49:12 You always need distribution. Right. And what's happened in just these past few days? I mean, have we all not updated our phones because for the first time in how long, Apple was like our security's been breached? Yep. And I'm like, wait a like our security has been breached. Yep. And I'm like, wait a minute, most of these iOS upgrades, whatever.
Starting point is 01:49:29 But no, Apple is announcing to people, we screwed up. Somebody got into our system. You have to download this upgrade or you're going to be infiltrated, whatever. I mean, to me, that was a big admission that nobody picked up on. But my IT person, immediately, it was like, Daniel, there's a bug in Apple, upgrade your phone immediately. There's a bug in Apple, upgrade your MacBook immediately. But the story here is about the secret slave market.
Starting point is 01:49:57 Yeah. So we're not even touching that. We're not even. No, you're saying that that is a small sliver of an issue and the privacy issues are way that like it is a huge issue, but the social media and technology in Silicon Valley have done little for 10 years to prevent the weaponization of the tools they built by really bad people.
Starting point is 01:50:18 And you can move. You're saying this is a tropical move. It's terrible, but you could sit there searching or place that with all these other things that Really bad people are doing everything from drug trafficking to human trafficking Well, remember New Zealand. This is an offshoot of this is a little case example of the bigger Big tech issues that we're facing is what you're saying. I mean terribly bad horrible people around the world are using Apple and Facebook and Instagram Wasn't it on Facebook? bad horrible people around the world are using apple and facebook and instagram there were the member in new zealine there was a mass shooting yeah and that was that they brought all the bad people together on
Starting point is 01:50:53 facebook and they're censoring americans from having open discourse and this shit's going on in the background because you said three bad words not sure vaccination. And they search those and they pull you down. Well, you just said it. So folks enjoy this podcast. It's been great having you at this space.
Starting point is 01:51:13 The thoughts of Spazdock are independently. In the last minute of the podcast, I can just ask that phone. Wait, we apologize that it's 11 a.m. and you happened to need a martini. Oh, no, here's what you're just saying. The thoughts of BizDock are biz doc or biz doc and biz docs only, we apologize in advance for anything
Starting point is 01:51:27 that we might have done with YouTube. I'm sorry I was still under the influence of the leetree, which is a drug that's in the COVID cocktail that I'm forever thankful for. Well, more importantly, we're happy to see you, biz doc. You're feeling well? Seriously, yeah, it's very good to see a ton of people. It's really good to be back.
Starting point is 01:51:43 It's really good to be back. Can I say three things about it? very good to see. It's really good to be back. It's really good to be back. Can I say three things about it? Sure, cool for you. The first thing is, you know, COVID, specifically COVID Delta is a really bad bug. The second is the healthcare workers in America are incredibly overworked. I saw it with my own eyes in the hospital where I was.
Starting point is 01:52:00 And it is worse in terms of the crowding and what's going on and what they're trying to do. Right. It is worse than the, you know, we have the great resignation, but the great reaction, which was April and May of last year. I call it the great reaction. And they're like, we really wish we could spread the word out there that it is worse right now than it was in terms of people in the hospital. So, and remember, I'm in Texas, and that's what the hospital is. So they didn't come out, you know, swinging a stick and saying,
Starting point is 01:52:28 vaccination, vaccination, vaccination. They said, listen, we would hope that you would talk to your family doctor or someone you trust in. Clarified, this is Texas, you're in Texas. In California, New York. No, it was a little bit more.
Starting point is 01:52:38 I was in Dallas, Texas. And what they said was, look, I really hope you would talk to your family physician, the same one that gives you flu flu shots and your allergy medicine, you go for your checkup. I really wish you would sit down, listen to them and talk about vaccinations. But if you don't, will you please look at the statistics
Starting point is 01:52:56 around here, will you consider doing your grocery shopping at nine o'clock at night when it's less crowded? Will you wear real N95 mask? Because if you go into a Walmart or something, rather than these joke cotton masks that have the logo from your college on it, I said, well, you just be sensible. You take hand sanitizer with you
Starting point is 01:53:14 and you touch bathroom doors. You know, we're not here to take away your freedoms. He was there. He says, look, I don't really believe in mandates. He says it all. Straight up to my face, he says, look, you know, it's not about mandating people and impacting freedoms, but it is acting people say, look, you know, if this is what you feel about vaccinations and things like this, would you please take some sensible steps because this is real?
Starting point is 01:53:36 And that was, that was the parting shot, would you take some sensible steps because this is real? And look at the crowding of the hospitals, you know, think twice before you go, you know, do some things. But live your life. He said, look, I'm a doctor. I go out to dinner with my wife, and he said the following.
Starting point is 01:53:52 I noticed that the restaurants are cleaning up differently than they were a year ago when we were all freaked out. And so I'm really glad to be back. I'm very grateful for the healthcare workers. I'm grateful for the COVID cocktail that got me through this. But I kind of agreed with the healthcare workers. I'm grateful for the COVID cocktail that got me through this. But I kind of agreed with the doctors on those points.
Starting point is 01:54:09 Right now America is not being as cautious and prudent while exercising their freedoms and getting back to work and doing things as they could be. Yeah. Well, we are thankful for your doctors. We are thankful for the people that were working with you. Your wife. I can tell you your wife loves you.
Starting point is 01:54:26 When her and I were having a conversation together and how emotional and pain she was, we were talking every single day. You got a trooper there as a woman you married, the mother of your children. It's good to have you here, brother. When you and I had the conversation together, we missed the dialogue, we missed the conversations, we missed all of that. One day in the afternoon, Adam was in a corner and Mario is crying for 45 minutes. He was just saying, Tom, Tom, Tom, it was a very emotional moment for Adam, but everybody
Starting point is 01:54:53 here, Tom, missed you, everybody. So we're just glad to have you back and glad to have you on the podcast, especially today with you, Danielle and Adam. Lots of good banter here, man, good conversations today. Wonderful. Yeah, thank you. First of all, to be here, we've missed you too. We brought the band back together. Daniel and Adam Lots of good banter here man good conversations Thank you We brought the band back together. Yes, this was fantastic. This was fantastic. So folks a lot of people are asking About the podcast with Rogan if you haven't listened to it the link is I think I put it in the Comment section of people haven't seen where to get it
Starting point is 01:55:21 You have to go download Spotify app to listen to it. There's a couple of short clips on YouTube, but you can listen to it on Spotify to see what was discussed on that sit down with Rogan. Have instead that we're gonna do this again next Tuesday or we schedule, Carolyn, are we schedule for next Tuesday or no, yes we are. We will see you guys next Tuesday, same time. Have a great weekend everybody.
Starting point is 01:55:39 Daniel, good to have you on. Good to have you on. Happy birthday Patrick. Thank you, early, 18px. Happy birthday. Thanks, take, happy birthday. Bye. Good to have your happy birthday Patrick.
Starting point is 01:55:43 Thank you early 18x. Early. X, take happy birthday. Three weeks.

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